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Stalexport Autostrady

WSE:STX
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
STX
WSE
PLN883M
Market Cap
  1. Home
  2. PL
  3. Transportation
Company description

Stalexport Autostrady S.A. constructs and operates motorways in Poland. The last earnings update was 68 days ago. More info.


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STX Share Price and Events
7 Day Returns
8.2%
WSE:STX
1.4%
Europe Infrastructure
-0.3%
PL Market
1 Year Returns
6.3%
WSE:STX
0.8%
Europe Infrastructure
3.9%
PL Market
STX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Stalexport Autostrady (STX) 8.2% 2.3% -2.9% 6.3% 5.3% 35.7%
Europe Infrastructure 1.4% 2.5% 3.2% 0.8% 37.6% 44.3%
PL Market -0.3% 1.8% -2.4% 3.9% 15.6% -3.5%
1 Year Return vs Industry and Market
  • STX outperformed the Infrastructure industry which returned 0.8% over the past year.
  • STX outperformed the Market in Poland which returned 3.9% over the past year.
Price Volatility
STX
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Stalexport Autostrady undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Stalexport Autostrady to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Stalexport Autostrady.

WSE:STX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year PL Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WSE:STX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.839 (1 + (1- 19%) (6.91%))
0.924
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.924 * 7.14%)
9.44%

Discounted Cash Flow Calculation for WSE:STX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Stalexport Autostrady is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:STX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.44%)
2020 237.28 Est @ 9.45% 216.80
2021 255.00 Est @ 7.47% 212.89
2022 270.51 Est @ 6.08% 206.35
2023 284.34 Est @ 5.11% 198.18
2024 296.95 Est @ 4.43% 189.11
2025 308.70 Est @ 3.96% 179.63
2026 319.90 Est @ 3.63% 170.08
2027 330.75 Est @ 3.39% 160.67
2028 341.44 Est @ 3.23% 151.55
2029 352.08 Est @ 3.12% 142.79
Present value of next 10 years cash flows PLN1,828.04
WSE:STX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN352.08 × (1 + 2.85%) ÷ (9.44% – 2.85%)
PLN5,490.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN5,490.91 ÷ (1 + 9.44%)10
PLN2,226.87
WSE:STX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN1,828.04 + PLN2,226.87
PLN4,054.91
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN4,054.91 / 247.26
PLN16.4
WSE:STX Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN16.40
Current discount Discount to share price of PLN3.57
= -1 x (PLN3.57 - PLN16.40) / PLN16.40
78.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Stalexport Autostrady is available for.
Intrinsic value
>50%
Share price is PLN3.57 vs Future cash flow value of PLN16.4
Current Discount Checks
For Stalexport Autostrady to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Stalexport Autostrady's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Stalexport Autostrady's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Stalexport Autostrady's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Stalexport Autostrady's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:STX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN0.61
WSE:STX Share Price ** WSE (2019-07-16) in PLN PLN3.57
Europe Infrastructure Industry PE Ratio Median Figure of 33 Publicly-Listed Infrastructure Companies 21.38x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Stalexport Autostrady.

WSE:STX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:STX Share Price ÷ EPS (both in PLN)

= 3.57 ÷ 0.61

5.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stalexport Autostrady is good value based on earnings compared to the Europe Infrastructure industry average.
  • Stalexport Autostrady is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Stalexport Autostrady's expected growth come at a high price?
Raw Data
WSE:STX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-2.3%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 21 Publicly-Listed Infrastructure Companies 2.66x
Poland Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Stalexport Autostrady, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Stalexport Autostrady's assets?
Raw Data
WSE:STX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN3.25
WSE:STX Share Price * WSE (2019-07-16) in PLN PLN3.57
Europe Infrastructure Industry PB Ratio Median Figure of 38 Publicly-Listed Infrastructure Companies 2.33x
Poland Market PB Ratio Median Figure of 684 Publicly-Listed Companies 0.97x
WSE:STX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:STX Share Price ÷ Book Value per Share (both in PLN)

= 3.57 ÷ 3.25

1.1x

* Primary Listing of Stalexport Autostrady.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stalexport Autostrady is good value based on assets compared to the Europe Infrastructure industry average.
X
Value checks
We assess Stalexport Autostrady's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Infrastructure industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Infrastructure industry average (and greater than 0)? (1 check)
  5. Stalexport Autostrady has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Stalexport Autostrady expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Stalexport Autostrady, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Stalexport Autostrady expected to grow at an attractive rate?
  • Stalexport Autostrady's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Stalexport Autostrady's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Stalexport Autostrady's revenue growth is expected to exceed the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:STX Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:STX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -2.3%
WSE:STX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 7.5%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WSE:STX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:STX Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 420 1
2020-12-31 388 1
2019-12-31 364 1
WSE:STX Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 340 255 151
2018-12-31 337 231 181
2018-09-30 333 228 176
2018-06-30 329 200 171
2018-03-31 324 206 149
2017-12-31 319 200 153
2017-09-30 313 210 169
2017-06-30 306 209 163
2017-03-31 298 205 157
2016-12-31 293 201 160
2016-09-30 288 201 135
2016-06-30 281 199 142

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Stalexport Autostrady's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Stalexport Autostrady's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:STX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Stalexport Autostrady Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:STX Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
WSE:STX Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 0.61
2018-12-31 0.73
2018-09-30 0.71
2018-06-30 0.69
2018-03-31 0.60
2017-12-31 0.62
2017-09-30 0.68
2017-06-30 0.66
2017-03-31 0.64
2016-12-31 0.65
2016-09-30 0.55
2016-06-30 0.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Stalexport Autostrady will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Stalexport Autostrady's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Stalexport Autostrady has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Stalexport Autostrady performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Stalexport Autostrady's growth in the last year to its industry (Infrastructure).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Stalexport Autostrady has delivered over 20% year on year earnings growth in the past 5 years.
  • Stalexport Autostrady's 1-year earnings growth is less than its 5-year average (1.3% vs 20.5%)
  • Stalexport Autostrady's earnings growth has not exceeded the Europe Infrastructure industry average in the past year (1.3% vs 8.7%).
Earnings and Revenue History
Stalexport Autostrady's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Stalexport Autostrady Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:STX Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 339.92 151.30 84.29
2018-12-31 336.53 181.14 48.74
2018-09-30 333.27 175.78 37.35
2018-06-30 328.61 170.60 37.46
2018-03-31 324.39 149.35 35.71
2017-12-31 318.83 153.38 35.79
2017-09-30 313.23 168.60 34.03
2017-06-30 305.68 163.21 34.65
2017-03-31 298.18 157.17 34.03
2016-12-31 292.85 159.56 33.84
2016-09-30 287.83 135.06 34.93
2016-06-30 280.91 142.05 33.51
2016-03-31 273.28 136.15 35.40
2015-12-31 262.51 113.60 34.18
2015-09-30 250.75 103.41 33.94
2015-06-30 237.23 76.76 32.40
2015-03-31 227.47 64.71 29.66
2014-12-31 222.54 60.50 29.75
2014-09-30 219.51 56.30 30.35
2014-06-30 216.98 65.32 30.09
2014-03-31 212.21 65.70 30.30
2013-12-31 206.50 58.57 30.40
2013-09-30 199.75 45.98 30.75
2013-06-30 192.93 29.00 31.11
2013-03-31 189.32 20.69 30.89
2012-12-31 185.51 8.60 32.00
2012-09-30 184.86 12.35 31.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Stalexport Autostrady has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Stalexport Autostrady used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Stalexport Autostrady has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Stalexport Autostrady's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Infrastructure industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Stalexport Autostrady has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Stalexport Autostrady's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Stalexport Autostrady's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Stalexport Autostrady is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Stalexport Autostrady's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Stalexport Autostrady's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 7.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Stalexport Autostrady Company Filings, last reported 3 months ago.

WSE:STX Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 810.14 57.80 385.87
2018-12-31 809.91 81.15 335.56
2018-09-30 770.34 80.03 420.60
2018-06-30 717.93 102.83 330.06
2018-03-31 729.71 101.61 405.97
2017-12-31 698.17 123.69 398.30
2017-09-30 663.79 122.19 419.34
2017-06-30 616.24 143.98 385.60
2017-03-31 622.04 142.19 367.81
2016-12-31 586.83 163.38 368.45
2016-09-30 536.22 161.90 314.68
2016-06-30 493.56 185.03 267.34
2016-03-31 460.67 183.07 220.03
2015-12-31 423.10 203.24 189.59
2015-09-30 397.75 200.82 150.41
2015-06-30 350.13 219.06 192.06
2015-03-31 320.90 219.09 144.20
2014-12-31 304.92 238.52 168.99
2014-09-30 291.81 233.78 136.04
2014-06-30 271.99 250.14 172.36
2014-03-31 260.13 242.95 137.72
2013-12-31 248.51 261.66 171.32
2013-09-30 238.20 256.28 221.07
2013-06-30 207.22 275.10 168.04
2013-03-31 190.14 273.95 137.56
2012-12-31 186.49 292.33 167.59
2012-09-30 187.56 281.05 143.39
  • Stalexport Autostrady's level of debt (7.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (93.4% vs 7.1% today).
  • Debt is well covered by operating cash flow (441.4%, greater than 20% of total debt).
  • Stalexport Autostrady earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Stalexport Autostrady's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Stalexport Autostrady has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Stalexport Autostrady's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.36%
Current annual income from Stalexport Autostrady dividends.
If you bought PLN2,000 of Stalexport Autostrady shares you are expected to receive PLN207 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Stalexport Autostrady's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.81%).
  • Stalexport Autostrady's dividend is above the markets top 25% of dividend payers in Poland (7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WSE:STX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 3.3%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WSE:STX Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
WSE:STX Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.370 10.967
2019-02-27 0.370 9.587
2018-03-02 0.290 8.209
2017-03-03 0.180 4.399

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Stalexport Autostrady has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Stalexport Autostrady only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Stalexport Autostrady's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Stalexport Autostrady's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Stalexport Autostrady afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Stalexport Autostrady has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Stalexport Autostrady's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Emil Wasacz
COMPENSATION PLN1,244,330
CEO Bio

Mr. Emil Wasacz serves as the President of Management Board, Chief Executive Officer and General Director of Stalexport Autostrady S.A. (AKA: Stalexport Sa).

CEO Compensation
  • Emil's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Emil's remuneration is higher than average for companies of similar size in Poland.
Management Team

Emil Wasacz

TITLE
President of the Management Board
COMPENSATION
PLN1M

Mariusz Serwa

TITLE
Vice-President of the Management Board & CFO
COMPENSATION
PLN675K
AGE
48
TENURE
13.3 yrs

Stefano Rossi

TITLE
Secretary of the Supervisory Board & Member of the Supervisory Board

Andrzej Kluba

TITLE
Director of the Strategy & Development Office

Ireneusz Sakowski

TITLE
Chief Tender Specialist
Board of Directors Tenure

Average tenure and age of the Stalexport Autostrady board of directors in years:

1.5
Average Tenure
57
Average Age
  • The average tenure for the Stalexport Autostrady board of directors is less than 3 years, this suggests a new board.
Board of Directors

Roberto Mengucci

TITLE
Chairman of Supervisory Board
AGE
58
TENURE
10 yrs

Aleksander Galos

TITLE
Vice Chairman of Supervisory Board
AGE
57
TENURE
11.3 yrs

Stefano Rossi

TITLE
Secretary of the Supervisory Board & Member of the Supervisory Board

Marco Pace

TITLE
Member of Supervisory Board
AGE
51

Tomasz Dobrowolski

TITLE
Supervisory Board Member
TENURE
1.5 yrs

Flavio Ferrari

TITLE
Supervisory Board Member
TENURE
1.5 yrs

Nicola Bruno

TITLE
Member of the Supervisory Board
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess Stalexport Autostrady's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Stalexport Autostrady has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Stalexport Autostrady S.A. (WSE:STX) Delivered A Better ROE Than Its Industry

Check out our latest analysis for Stalexport Autostrady How Do You Calculate Return On Equity? … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Stalexport Autostrady: 19% = zł151m ÷ zł810m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … The Importance Of Debt To Return On Equity Companies usually need to invest money to grow their profits.

Simply Wall St -

Do Institutions Own Shares In Stalexport Autostrady S.A. (WSE:STX)?

Check out our latest analysis for Stalexport Autostrady WSE:STX Ownership Summary, June 3rd 2019 What Does The Institutional Ownership Tell Us About Stalexport Autostrady? … As you can see, institutional investors own 11% of Stalexport Autostrady. … Insider Ownership Of Stalexport Autostrady The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Stalexport Autostrady S.A. (WSE:STX) Earns Among The Best Returns In Its Industry

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Stalexport Autostrady: 0.21 = zł243m ÷ (zł1.3b - zł165m) (Based on the trailing twelve months to December 2018.) So, Stalexport Autostrady has an ROCE of 21%. … Do Stalexport Autostrady's Current Liabilities Skew Its ROCE? … The Bottom Line On Stalexport Autostrady's ROCE With low current liabilities and a high ROCE, Stalexport Autostrady could be worthy of further investigation.

Simply Wall St -

Is Stalexport Autostrady S.A. (WSE:STX) Potentially Underrated?

(WSE:STX) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of STX, it

Simply Wall St -

Read This Before Considering Stalexport Autostrady S.A. (WSE:STX) For Its Upcoming zł0.37 Dividend

(WSE:STX) will be paying shareholders an upcoming dividend amount of zł0.37 per share. … Is its earnings sufficient to payout dividend at the current rate … Based on future earnings growth, will it be able to continue to payout dividend at the current rate

Simply Wall St -

What Does Stalexport Autostrady S.A.'s (WSE:STX) Balance Sheet Tell Us About It?

However, an important fact which most ignore is: how financially healthy is the business? … Understanding the company's financial health becomes. … The following basic checks can help you get a picture of the company's balance sheet strength.

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Here's What Stalexport Autostrady S.A.'s (WSE:STX) ROCE Can Tell Us

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

Do Institutions Own Stalexport Autostrady S.A. (WSE:STX) Shares?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Companies that used to be publicly owned tend to have lower insider ownership. … With a market capitalization of zł940m, Stalexport Autostrady is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Boasting A 24% Return On Equity, Is Stalexport Autostrady S.A. (WSE:STX) A Top Quality Stock?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every PLN1 worth of equity in the company, it was able to earn PLN0.24. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Stalexport Autostrady S.A.'s (WSE:STX) P/E Ratio Really That Good?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Stalexport Autostrady S.A.'s (WSE:STX) P/E ratio and reflect on what it tells us about the company's share price. … Stalexport Autostrady has a price to earnings ratio of 4.57, based on the last twelve months.

Simply Wall St -

Company Info

Description

Stalexport Autostrady S.A. constructs and operates motorways in Poland. The company operates a Katowice-Kraków section of the A4 motorway. It also engages in construction of roads and railroads; leases office and parking spaces; and provides management and business advisory services. The company was formerly known as STALEXPORT S.A. and changed its name to Stalexport Autostrady S.A. in September 2007. The company was founded in 1963 and is based in Myslowice, Poland.

Details
Name: Stalexport Autostrady S.A.
STX
Exchange: WSE
Founded: 1963
PLN882,725,422
247,262,023
Website: http://www.stalexport-autostrady.pl
Address: Stalexport Autostrady S.A.
ul. Piaskowa 20,
Myslowice,
41-404,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE STX Common Bearer Shares Warsaw Stock Exchange PL PLN 26. Oct 1994
Number of employees
Current staff
Staff numbers
317
Stalexport Autostrady employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 20:40
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/03/01
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.