WSE:ENA

Stock Analysis Report

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Executive Summary

Enea S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland.


Snowflake Analysis

Undervalued with proven track record.


Similar Companies

Share Price & News

How has ENEA's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ENA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.6%

ENA

5.0%

PL Electric Utilities

4.4%

PL Market


1 Year Return

-30.4%

ENA

-36.5%

PL Electric Utilities

-18.9%

PL Market

Return vs Industry: ENA exceeded the Polish Electric Utilities industry which returned -36.5% over the past year.

Return vs Market: ENA underperformed the Polish Market which returned -18.9% over the past year.


Shareholder returns

ENAIndustryMarket
7 Day8.6%5.0%4.4%
30 Day9.0%8.7%7.2%
90 Day4.6%4.9%-3.1%
1 Year-30.4%-30.4%-36.4%-36.5%-17.0%-18.9%
3 Year-50.1%-50.9%-53.1%-53.6%-22.1%-27.5%
5 Year-62.0%-63.8%-69.8%-72.1%-19.6%-29.4%

Price Volatility Vs. Market

How volatile is ENEA's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ENEA undervalued compared to its fair value and its price relative to the market?

3.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ENA (PLN5.86) is trading below our estimate of fair value (PLN6.08)

Significantly Below Fair Value: ENA is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ENA is good value based on its PE Ratio (2.6x) compared to the Electric Utilities industry average (11.2x).

PE vs Market: ENA is good value based on its PE Ratio (2.6x) compared to the Polish market (10.4x).


Price to Earnings Growth Ratio

PEG Ratio: ENA is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: ENA is good value based on its PB Ratio (0.2x) compared to the PL Electric Utilities industry average (0.2x).


Next Steps

Future Growth

How is ENEA forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ENA's forecast earnings growth (3% per year) is above the savings rate (2.9%).

Earnings vs Market: ENA's earnings (3% per year) are forecast to grow slower than the Polish market (12.2% per year).

High Growth Earnings: ENA's earnings are forecast to grow, but not significantly.

Revenue vs Market: ENA's revenue is expected to decline over the next 3 years (-1.8% per year).

High Growth Revenue: ENA's revenue is forecast to decline over the next 3 years (-1.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ENA's Return on Equity is forecast to be low in 3 years time (6.2%).


Next Steps

Past Performance

How has ENEA performed over the past 5 years?

11.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ENA has high quality earnings.

Growing Profit Margin: ENA's current net profit margins (6.6%) are lower than last year (7%).


Past Earnings Growth Analysis

Earnings Trend: ENA's earnings have grown by 11.3% per year over the past 5 years.

Accelerating Growth: ENA's earnings growth over the past year (14.4%) exceeds its 5-year average (11.3% per year).

Earnings vs Industry: ENA earnings growth over the past year (14.4%) exceeded the Electric Utilities industry 12%.


Return on Equity

High ROE: ENA's Return on Equity (6.8%) is considered low.


Next Steps

Financial Health

How is ENEA's financial position?


Financial Position Analysis

Short Term Liabilities: ENA's short term assets (PLN8.4B) exceed its short term liabilities (PLN6.2B).

Long Term Liabilities: ENA's short term assets (PLN8.4B) do not cover its long term liabilities (PLN10.0B).


Debt to Equity History and Analysis

Debt Level: ENA's debt to equity ratio (57%) is considered high.

Reducing Debt: ENA's debt to equity ratio has increased from 17% to 57% over the past 5 years.

Debt Coverage: ENA's debt is well covered by operating cash flow (28.2%).

Interest Coverage: ENA's interest payments on its debt are well covered by EBIT (8.3x coverage).


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ENA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ENA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ENA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ENA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ENA is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ENA's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Miroslaw Kowalik

4.42yrs

Tenure

zł1,121,610

Compensation

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 o ...


CEO Compensation Analysis

Compensation vs Market: Miroslaw's total compensation ($USD0.00) is below average for companies of similar size in the Polish market ($USD586.33K).

Compensation vs Earnings: Insufficient data to compare Miroslaw's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Miroslaw Kowalik
President of the Management Board4.42yrszł1.12mno data
Piotr Adamczak
Vice President of the Management Board for Commercial Affairs4.25yrszł841.38kno data
Jaroslaw Olowski
Vice-President of the Management Board for Financial Affairs1yrno datano data

4.3yrs

Average Tenure

Experienced Management: ENA's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Izabela Felczak-Poturnicka
Chairwoman of Supervisory Board0.17yrno datano data
Piotr Kossak
Member of the Supervisory Board4.33yrszł50.61kno data
Rafal Bargiel
Member of the Supervisory Board4.33yrszł50.61kno data
Roman Stryjski
Member of the Supervisory Board4.33yrszł50.61kno data
Piotr Mirkowski
Member of the Supervisory Board4.33yrszł50.61kno data
Ireneusz Kulka
Member of the Supervisory Board2.17yrsno datano data
Pawel Koroblowski
Member of Supervisory Board1.67yrsno datano data
Michal Jaciubek
Member of Supervisory Board1yrno data0.0011% PLN29.5k
Maciej Mazur
Member of Supervisory Board1yrno datano data
Mariusz Pliszka
Member of Supervisory Board1yrno data0.00088% PLN22.7k

1.9yrs

Average Tenure

Experienced Board: ENA's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ENEA S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ENEA S.A.
  • Ticker: ENA
  • Exchange: WSE
  • Founded:
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: zł2.585b
  • Shares outstanding: 441.44m
  • Website: https://www.enea.pl

Number of Employees


Location

  • ENEA S.A.
  • ul. GOrecka 1
  • Poznan
  • 60-201
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ENAWSE (Warsaw Stock Exchange)YesOrdinary SharesPLPLNJan 2009
0KO8LSE (London Stock Exchange)YesOrdinary SharesGBPLNJan 2009
ENEA.YOTCPK (Pink Sheets LLC)ADRUSUSDAug 2012

Biography

Enea S.A., together with its subsidiaries, generates, transmits, distributes, and trades in electricity in Poland. It generates electricity from wind farms, and hydropower 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; maintains and modernizes road lighting equipment; and provides transport, repair, and construction services. The company was formerly known as Energetyka Poznanska S.A. Enea S.A. is headquartered in Poznan, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/29 22:43
End of Day Share Price2020/05/29 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.