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ENEA

WSE:ENA
Snowflake Description

Very undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENA
WSE
PLN4B
Market Cap
  1. Home
  2. PL
  3. Utilities
Company description

Enea S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland. The last earnings update was 60 days ago. More info.


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  • ENEA has significant price volatility in the past 3 months.
ENA Share Price and Events
7 Day Returns
-0.5%
WSE:ENA
1%
PL Electric Utilities
-0.9%
PL Market
1 Year Returns
-23%
WSE:ENA
-17.4%
PL Electric Utilities
-7.4%
PL Market
ENA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ENEA (ENA) -0.5% -0.7% -21.1% -23% -22.9% -50.3%
PL Electric Utilities 1% -6.8% -23.9% -17.4% -25.9% -59.7%
PL Market -0.9% -7.1% -6.3% -7.4% 9.6% -11.5%
1 Year Return vs Industry and Market
  • ENA underperformed the Electric Utilities industry which returned -17.4% over the past year.
  • ENA underperformed the Market in Poland which returned -7.4% over the past year.
Price Volatility
ENA
Industry
5yr Volatility vs Market

Value

 Is ENEA 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 ENEA 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 ENEA.

WSE:ENA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
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:ENA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.235 (1 + (1- 19%) (233.71%))
0.785
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.8 * 7.14%)
8.56%

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

The calculations below outline how an intrinsic value for ENEA 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:ENA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 8.56%)
2019 329.62 Analyst x6 303.62
2020 564.77 Analyst x6 479.20
2021 1,202.15 Analyst x2 939.56
2022 1,111.20 Analyst x2 799.98
2023 782.93 Analyst x3 519.20
2024 599.54 Est @ -23.42% 366.23
2025 506.36 Est @ -15.54% 284.91
2026 455.60 Est @ -10.02% 236.14
2027 427.53 Est @ -6.16% 204.11
2028 412.74 Est @ -3.46% 181.51
Present value of next 10 years cash flows PLN4,314.46
WSE:ENA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN412.74 × (1 + 2.85%) ÷ (8.56% – 2.85%)
PLN7,431.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN7,431.78 ÷ (1 + 8.56%)10
PLN3,268.24
WSE:ENA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN4,314.46 + PLN3,268.24
PLN7,582.70
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN7,582.70 / 441.44
PLN17.18
WSE:ENA Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN17.18
Current discount Discount to share price of PLN8.08
= -1 x (PLN8.08 - PLN17.18) / PLN17.18
53%

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

Current Discount
Amount off the current price ENEA is available for.
Intrinsic value
>50%
Share price is PLN8.08 vs Future cash flow value of PLN17.18
Current Discount Checks
For ENEA to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ENEA's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ENEA'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 ENEA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ENEA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ENA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN1.56
WSE:ENA Share Price ** WSE (2019-05-20) in PLN PLN8.08
Poland Electric Utilities Industry PE Ratio Median Figure of 6 Publicly-Listed Electric Utilities Companies 8.09x
Poland Market PE Ratio Median Figure of 463 Publicly-Listed Companies 10.7x

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

** Primary Listing of ENEA.

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

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

= 8.08 ÷ 1.56

5.19x

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

  • ENEA is good value based on earnings compared to the PL Electric Utilities industry average.
  • ENEA is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does ENEA's expected growth come at a high price?
Raw Data
WSE:ENA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
24%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 32 Publicly-Listed Electric Utilities Companies 1.39x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 0.93x

*Line of best fit is calculated by linear regression .

WSE:ENA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.19x ÷ 24%

0.22x

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

  • ENEA is good value based on expected growth next year.
Price based on value of assets
What value do investors place on ENEA's assets?
Raw Data
WSE:ENA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN31.93
WSE:ENA Share Price * WSE (2019-05-20) in PLN PLN8.08
Poland Electric Utilities Industry PB Ratio Median Figure of 7 Publicly-Listed Electric Utilities Companies 0.3x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:ENA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 8.08 ÷ 31.93

0.25x

* Primary Listing of ENEA.

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

  • ENEA is good value based on assets compared to the PL Electric Utilities industry average.
X
Value checks
We assess ENEA'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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. ENEA has a total score of 6/6, 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 ENEA expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

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
24%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ENEA expected to grow at an attractive rate?
  • ENEA's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • ENEA's earnings growth is expected to exceed the Poland market average.
  • ENEA's revenue growth is expected to exceed the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:ENA Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ENA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 24%
WSE:ENA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 7.1%
Poland Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 26.1%
Poland Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.5%

*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:ENA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:ENA Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 17,503 2
2022-12-31 17,661 2
2021-12-31 17,329 3,199 1,488 4
2020-12-31 16,261 2,869 1,133 8
2019-12-31 14,984 2,696 923 7
WSE:ENA Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 12,673 2,435 687
2018-09-30 12,428 3,179 869
2018-06-30 11,877 3,119 920
2018-03-31 11,685 2,741 1,016
2017-12-31 11,406 2,580 1,070
2017-09-30 11,314 2,837 894
2017-06-30 11,224 2,617 923
2017-03-31 11,029 2,601 807
2016-12-31 11,256 2,424 784
2016-09-30 11,002 2,683 -595
2016-06-30 10,836 2,586 -408
2016-03-31 10,339 2,413 -425

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ENEA's earnings are expected to grow significantly at over 20% yearly.
  • ENEA's revenue is expected to grow by 7.1% 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:ENA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from ENEA Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ENA Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.28 4.10 2.68 3.00
2020-12-31 2.61 3.45 1.66 6.00
2019-12-31 2.01 2.08 1.94 2.00
WSE:ENA Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 1.56
2018-09-30 1.97
2018-06-30 2.08
2018-03-31 2.30
2017-12-31 2.42
2017-09-30 2.03
2017-06-30 2.09
2017-03-31 1.83
2016-12-31 1.78
2016-09-30 -1.35
2016-06-30 -0.92
2016-03-31 -0.96

*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.
  • ENEA is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ENEA'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 Poland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Poland 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.
ENEA has a total score of 4/6, 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 ENEA 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 ENEA's growth in the last year to its industry (Electric Utilities).
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.
  • ENEA's year on year earnings growth rate has been positive over the past 5 years.
  • ENEA's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ENEA's 1-year earnings growth is negative, it can't be compared to the PL Electric Utilities industry average.
Earnings and Revenue History
ENEA'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 ENEA Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ENA Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 12,672.77 686.74 2,667.32
2018-09-30 12,427.69 868.75 2,527.56
2018-06-30 11,877.02 920.20 2,450.71
2018-03-31 11,684.55 1,015.69 2,416.21
2017-12-31 11,405.69 1,070.17 2,343.26
2017-09-30 11,313.93 894.04 2,359.63
2017-06-30 11,224.47 922.77 2,324.81
2017-03-31 11,028.62 806.68 2,239.19
2016-12-31 11,255.68 784.39 2,196.04
2016-09-30 11,002.02 -595.37 2,062.45
2016-06-30 10,835.58 -408.29 1,847.66
2016-03-31 10,338.73 -424.65 1,656.92
2015-12-31 9,848.39 -434.86 1,461.61
2015-09-30 9,778.54 911.54 1,354.54
2015-06-30 9,627.45 695.63 1,317.47
2015-03-31 9,928.07 960.55 1,307.34
2014-12-31 9,855.40 908.32 1,350.97
2014-09-30 9,590.45 894.07 1,342.81
2014-06-30 9,395.09 897.00 1,366.82
2014-03-31 9,143.93 637.02 1,258.96
2013-12-31 9,150.52 722.52 1,399.78
2013-09-30 9,451.50 749.81 1,434.46
2013-06-30 9,665.18 731.29 1,478.95
2013-03-31 9,825.90 792.68 1,626.87
2012-12-31 10,091.35 699.67 1,482.25
2012-09-30 9,967.65 684.86 1,482.40
2012-06-30 9,984.63 803.56 1,484.90

*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.
  • ENEA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ENEA used its assets less efficiently than the PL Electric Utilities industry average last year based on Return on Assets.
  • ENEA's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ENEA'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 Electric Utilities 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.
ENEA has a total score of 1/6, 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 ENEA'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 ENEA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ENEA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ENEA's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of ENEA'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x 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 ENEA Company Filings, last reported 4 months ago.

WSE:ENA Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 15,049.16 8,336.19 2,651.38
2018-09-30 14,957.65 7,984.84 3,481.57
2018-06-30 14,800.15 8,100.98 3,285.65
2018-03-31 14,621.68 8,139.83 2,586.49
2017-12-31 13,999.67 8,263.11 2,687.60
2017-09-30 13,686.60 6,929.68 1,679.69
2017-06-30 13,472.16 6,951.62 1,609.41
2017-03-31 13,326.13 6,831.51 1,241.50
2016-12-31 13,011.73 6,729.68 2,340.70
2016-09-30 12,829.09 6,434.96 2,204.01
2016-06-30 12,563.37 6,596.67 2,323.72
2016-03-31 12,388.87 6,107.48 1,931.46
2015-12-31 12,122.60 5,978.78 2,038.33
2015-09-30 12,698.20 4,912.62 3,270.08
2015-06-30 12,322.82 3,299.64 1,916.20
2015-03-31 12,323.61 3,230.62 1,887.24
2014-12-31 12,064.01 2,221.09 1,269.36
2014-09-30 12,079.35 2,049.88 1,645.09
2014-06-30 11,871.80 1,353.97 1,680.35
2014-03-31 11,718.04 1,026.98 1,594.34
2013-12-31 11,488.85 847.28 1,869.58
2013-09-30 11,427.71 846.13 1,898.09
2013-06-30 11,209.92 73.53 1,616.84
2013-03-31 11,240.38 83.13 1,417.06
2012-12-31 10,914.05 82.58 1,522.80
2012-09-30 10,918.63 128.66 2,136.60
2012-06-30 10,730.37 113.39 2,300.57
  • ENEA's level of debt (55.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (7.4% vs 55.4% today).
  • Debt is well covered by operating cash flow (29.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess ENEA'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. ENEA has a total score of 3/6, 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 ENEA'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
0%
Current annual income from ENEA dividends. Estimated to be 1.3% next year.
If you bought PLN2,000 of ENEA shares you are expected to receive PLN0 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?
  • Unable to evaluate ENEA's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate ENEA's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:ENA 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 8 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 4.5%
Poland Market Average Dividend Yield Market Cap Weighted Average of 200 Stocks 4.1%
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 7.9%

Industry and Market average data is calculated daily.

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

WSE:ENA Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.55 2.00
2020-12-31 0.06 6.00
2019-12-31 0.00 6.00
WSE:ENA Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-03-21 0.000 0.000
2018-11-23 0.000 0.000
2018-09-13 0.000 0.000
2018-03-23 0.000 0.000
2017-05-25 0.250 1.975
2016-11-10 0.000 0.000
2016-08-26 0.000 0.000
2016-05-16 0.000 0.000
2016-03-21 0.000 0.000
2015-05-15 0.470 3.633
2015-03-20 0.470 2.847
2014-11-12 0.570 3.444
2014-08-27 0.570 3.578
2014-05-13 0.570 3.627
2014-03-21 0.570 3.732
2013-05-15 0.360 2.526
2013-03-21 0.360 2.674
2012-11-14 0.480 3.122
2012-08-30 0.480 2.960
2012-04-27 0.480 3.050
2011-11-14 0.440 2.495
2011-08-29 0.440 2.593
2011-04-12 0.440 2.364
2010-08-27 0.380 1.701
2010-05-17 0.380 2.076
2010-03-22 0.380 2.061
2010-01-15 0.380 2.041
2009-08-31 0.460 2.244

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

  • Unable to perform a dividend volatility check as ENEA has not reported any payouts.
  • Unable to verify if ENEA's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of ENEA's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as ENEA has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of ENEA's dividends in 3 years as they are not expected to pay a notable one for Poland.
X
Income/ dividend checks
We assess ENEA'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 ENEA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ENEA has a total score of 0/6, 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 ENEA'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
Miroslaw Kowalik
COMPENSATION PLN1,121,610
TENURE AS CEO 3.4 years
CEO Bio

Mr. Miroslaw Kowalik has been the President of the Management Board at ENEA S.A. since December 30, 2015. Mr. Kowalik connected with the power sector for over 20 years, holding managerial positions on an operating and strategic level. In 2015, he managed SNC Lavalin sp. z o.o. Polska as the Vice President of the Management Board and Business Development Director. From 1999 to 2015, he served on various managerial positions for ALSTOM Power Group, served as its Marketing and Sales Director. From 1995 to 1998, he was connected with the ABB concern. He has been the Chairman of the Supervisory Board at Lubelski Wegiel Bogdanka S.A. since February 23, 2016. He also completed a postgraduate study in Corporate Finance Management in the Warsaw School of Economics. He is undergoing the Doctoral Study - Executive Doctor of Business Administration in the Polish Academy of Sciences, Institute of Economics. Mr. Kowalik is a Graduate of the Faculty of Electrical Engineering at the Gdynia Maritime University. He graduated from a managerial study - MBA form Rotterdam School of Management programme in cooperation with University of Gdansk and Gdansk Foundation for Management Development, obtained the degree of Executive Master of Business Administration.

CEO Compensation
  • Insufficient data for Miroslaw to compare compensation growth.
  • Miroslaw's remuneration is lower than average for companies of similar size in Poland.
Management Team Tenure

Average tenure of the ENEA management team in years:

3.3
Average Tenure
  • The tenure for the ENEA management team is about average.
Management Team

Miroslaw Kowalik

TITLE
President of the Management Board
COMPENSATION
PLN1M
TENURE
3.4 yrs

Piotr Adamczak

TITLE
Vice President of the Management Board for Commercial Affairs
COMPENSATION
PLN841K
TENURE
3.3 yrs

Piotr Olejniczak

TITLE
Member of the Management Board for Financial Affairs
TENURE
1.7 yrs
Board of Directors Tenure

Average tenure of the ENEA board of directors in years:

3.3
Average Tenure
  • The tenure for the ENEA board of directors is about average.
Board of Directors

Stanislaw Hebda

TITLE
Chairman of Supervisory Board
TENURE
1.4 yrs

Pawel Jablonski

TITLE
Vice Chairman of Supervisory Board
TENURE
1.1 yrs

Slawomir Brzezinski

TITLE
Member of the Supervisory Board
TENURE
4.3 yrs

Tadeusz Miklosz

TITLE
Member of Supervisory Board
COMPENSATION
PLN53K
TENURE
3.8 yrs

Wojciech Klimowicz

TITLE
Member of Supervisory Board
COMPENSATION
PLN53K
TENURE
3.8 yrs

Piotr Kossak

TITLE
Member of the Supervisory Board
COMPENSATION
PLN51K
TENURE
3.3 yrs

Rafal Bargiel

TITLE
Member of the Supervisory Board
COMPENSATION
PLN51K
TENURE
3.3 yrs

Roman Stryjski

TITLE
Member of the Supervisory Board
COMPENSATION
PLN51K
TENURE
3.3 yrs

Piotr Mirkowski

TITLE
Member of the Supervisory Board
COMPENSATION
PLN51K
TENURE
3.3 yrs

Ireneusz Kulka

TITLE
Member of the Supervisory Board
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess ENEA'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. ENEA 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

What You Should Know About ENEA S.A.'s (WSE:ENA) Financial Strength

Help shape the future of investing tools and you could win a $250 gift card! … (WSE:ENA) with its market cap of zł3.3b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Does ENEA S.A.'s (WSE:ENA) P/E Ratio Signal A Buying Opportunity?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Kind Of Shareholder Owns Most ENEA S.A. (WSE:ENA) Stock?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … We can zoom in on the different ownership groups, to learn more about ENA

Simply Wall St -

Introducing ENEA (WSE:ENA), The Stock That Dropped 38% In The Last Five Years

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the unfortunate half decade during which the share price slipped, ENEA actually saw its earnings per share (EPS) improve by 3.0% per year. … Looking to other metrics might better explain the share price change.

Simply Wall St -

Does The Hype Around ENEA S.A.'s (WSE:ENA) Growth Justify Its March Share Price?

(WSE:ENA) is considered a high growth stock. … However its last closing price of PLN9.8 left investors wondering whether this growth has already been factored into the share price. … ENEA is poised for significantly high earnings growth in the near future

Simply Wall St -

What Should Investors Know About The Future Of ENEA S.A.'s (WSE:ENA)?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … Looking at ENEA S.A.'s (WSE:ENA) earnings update in September 2018,

Simply Wall St -

ENEA S.A. (WSE:ENA): Time For A Financial Health Check

(WSE:ENA) is a small-cap stock with a market capitalization of zł4.8b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

Investors Are Undervaluing ENEA S.A. (WSE:ENA) By 23.97%

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

How Should Investors Feel About ENEA S.A.'s (WSE:ENA) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Miroslaw Kowalik's Compensation Compare With Similar Sized Companies. … has a market capitalization of zł4.4b, and pays its CEO total annual compensation worth zł1.1m.

Simply Wall St -

What Kind Of Shareholders Own ENEA S.A. (WSE:ENA)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that used to be publicly owned tend to have lower insider ownership. … It has a market capitalization of zł4.3b, which means it would generally expect to see some institutions on the share registry.

Simply Wall St -

Company Info

Description

Enea S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland. It generates electricity from wind farms, hydropower plants, and biogas plants, as well as hard coal. The company sells electricity to 2.4 million customers, including individual consumers, and small and medium-sized companies, as well as large industrial plants. It also produces and sells coal and heat; and provides transport and construction services. The company was formerly known as Energetyka Poznanska S.A. Enea S.A. is headquartered in Poznan, Poland.

Details
Name: ENEA S.A.
ENA
Exchange: WSE
Founded:
PLN3,566,856,030
441,442,578
Website: http://www.enea.pl
Address: ENEA S.A.
Górecka 1,
Poznan,
60-201,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ENA Ordinary Shares Warsaw Stock Exchange PL PLN 30. Jan 2009
LSE 0KO8 Ordinary Shares London Stock Exchange GB PLN 30. Jan 2009
Number of employees
Current staff
Staff numbers
16,498
ENEA employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 21:25
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/03/21
Last earnings reported: 2018/12/31
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.