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Energa

WSE:ENG
Snowflake Description

Undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENG
WSE
PLN3B
Market Cap
  1. Home
  2. PL
  3. Utilities
Company description

Energa SA, together with its subsidiaries, generates, distributes, and sells electricity and heat in Poland. The last earnings update was 40 days ago. More info.


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  • Energa has significant price volatility in the past 3 months.
ENG Share Price and Events
7 Day Returns
-2.4%
WSE:ENG
2%
PL Electric Utilities
0.2%
PL Market
1 Year Returns
-23%
WSE:ENG
-13%
PL Electric Utilities
-2.1%
PL Market
ENG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Energa (ENG) -2.4% -10.8% -15.6% -23% -35% -56.2%
PL Electric Utilities 2% -6.7% -10.6% -13% -29.6% -54.4%
PL Market 0.2% 0.5% 1.3% -2.1% 12.5% -3.5%
1 Year Return vs Industry and Market
  • ENG underperformed the Electric Utilities industry which returned -13% over the past year.
  • ENG underperformed the Market in Poland which returned -2.1% over the past year.
Price Volatility
ENG
Industry
5yr Volatility vs Market

Value

 Is Energa 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 Energa 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 Energa.

WSE:ENG 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:ENG
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 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.241 (1 + (1- 19%) (219.39%))
0.779
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:ENG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Energa 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:ENG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 8.56%)
2019 93.00 Analyst x2 85.67
2020 178.63 Analyst x3 151.57
2021 162.50 Analyst x2 127.00
2022 33.23 Analyst x3 23.93
2023 518.63 Analyst x3 343.93
2024 668.01 Est @ 28.8% 408.05
2025 808.41 Est @ 21.02% 454.87
2026 934.25 Est @ 15.57% 484.22
2027 1,044.04 Est @ 11.75% 498.44
2028 1,138.85 Est @ 9.08% 500.83
Present value of next 10 years cash flows PLN3,078.50
WSE:ENG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN1,138.85 × (1 + 2.85%) ÷ (8.56% – 2.85%)
PLN20,506.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN20,506.09 ÷ (1 + 8.56%)10
PLN9,017.88
WSE:ENG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN3,078.50 + PLN9,017.88
PLN12,096.38
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN12,096.38 / 414.07
PLN29.21
WSE:ENG Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN29.21
Current discount Discount to share price of PLN7.91
= -1 x (PLN7.91 - PLN29.21) / PLN29.21
72.9%

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

Current Discount
Amount off the current price Energa is available for.
Intrinsic value
>50%
Share price is PLN7.91 vs Future cash flow value of PLN29.21
Current Discount Checks
For Energa to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Energa's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Energa'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 Energa's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Energa's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ENG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN1.79
WSE:ENG Share Price ** WSE (2019-04-23) in PLN PLN7.91
Poland Electric Utilities Industry PE Ratio Median Figure of 6 Publicly-Listed Electric Utilities Companies 8.6x
Poland Market PE Ratio Median Figure of 459 Publicly-Listed Companies 11.13x

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

** Primary Listing of Energa.

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

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

= 7.91 ÷ 1.79

4.43x

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

  • Energa is good value based on earnings compared to the PL Electric Utilities industry average.
  • Energa is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Energa's expected growth come at a high price?
Raw Data
WSE:ENG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
-2.1%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 31 Publicly-Listed Electric Utilities Companies 0.71x
Poland Market PEG Ratio Median Figure of 114 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.43x ÷ -2.1%

-2.07x

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

  • Energa earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Energa's assets?
Raw Data
WSE:ENG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN24.86
WSE:ENG Share Price * WSE (2019-04-23) in PLN PLN7.91
Poland Electric Utilities Industry PB Ratio Median Figure of 7 Publicly-Listed Electric Utilities Companies 0.32x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 0.99x
WSE:ENG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.91 ÷ 24.86

0.32x

* Primary Listing of Energa.

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

  • Energa is good value based on assets compared to the PL Electric Utilities industry average.
X
Value checks
We assess Energa'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. Energa 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 Energa 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
-2.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Energa expected to grow at an attractive rate?
  • Energa'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
  • Energa's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Energa's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:ENG Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ENG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts -2.1%
WSE:ENG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 4.3%
Poland Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 23.9%
Poland Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.3%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.5%

*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:ENG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:ENG Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 13,015 3
2022-12-31 12,838 3
2021-12-31 13,490 1,894 691 5
2020-12-31 13,041 1,733 684 8
2019-12-31 12,377 1,615 676 7
WSE:ENG Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 10,337 1,859 739
2018-09-30 10,418 2,009 899
2018-06-30 10,371 2,156 845
2018-03-31 10,466 2,434 738
2017-12-31 10,534 2,182 773
2017-09-30 10,525 2,214 632
2017-06-30 10,441 2,090 754
2017-03-31 10,270 2,054 453
2016-12-31 10,181 1,782 151
2016-09-30 10,220 1,603 207
2016-06-30 10,316 1,401 183
2016-03-31 10,512 1,280 488

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Energa's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Energa's revenue is expected to grow by 4.3% 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:ENG 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 8 Analyst Estimates (S&P Global) See Below

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

WSE:ENG 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 1.66 2.12 1.40 4.00
2020-12-31 1.45 1.57 1.30 4.00
2019-12-31 1.46 1.58 1.36 4.00
WSE:ENG Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 1.79
2018-09-30 2.17
2018-06-30 2.04
2018-03-31 1.78
2017-12-31 1.87
2017-09-30 1.53
2017-06-30 1.82
2017-03-31 1.09
2016-12-31 0.36
2016-09-30 0.50
2016-06-30 0.44
2016-03-31 1.18

*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.
  • Energa is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Energa'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.
Energa has a total score of 0/6, 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 Energa 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 Energa'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.
  • Energa's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Energa's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Energa's 1-year earnings growth is negative, it can't be compared to the PL Electric Utilities industry average.
Earnings and Revenue History
Energa'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 Energa Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ENG 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 10,337.00 739.00 732.00
2018-09-30 10,418.00 899.00 716.00
2018-06-30 10,371.00 845.00 701.00
2018-03-31 10,466.00 738.00 694.00
2017-12-31 10,534.00 773.00 689.00
2017-09-30 10,525.00 632.00 688.00
2017-06-30 10,441.00 754.00 685.00
2017-03-31 10,270.00 453.00 688.00
2016-12-31 10,181.00 151.00 677.00
2016-09-30 10,220.00 207.00 699.00
2016-06-30 10,316.00 183.00 704.00
2016-03-31 10,512.00 488.00 699.00
2015-12-31 10,804.00 832.00 699.00
2015-09-30 10,754.72 870.12 713.14
2015-06-30 10,728.49 916.45 706.21
2015-03-31 10,755.02 1,024.18 705.51
2014-12-31 10,590.00 985.00 684.00
2014-09-30 10,684.05 979.28 697.56
2014-06-30 10,926.21 829.68 715.25
2014-03-31 11,243.41 893.87 715.76
2013-12-31 11,429.25 769.61 737.19
2013-09-30 11,473.12 547.24 739.54
2013-06-30 11,351.11 504.61 727.91
2013-03-31 11,205.11 379.89 735.29
2012-12-31 11,176.80 460.40 730.14

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Energa is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Energa's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Energa'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 Energa Company Filings, last reported 3 months ago.

WSE:ENG Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 10,356.00 7,181.00 2,746.00
2018-09-30 10,321.00 7,340.00 2,975.00
2018-06-30 10,215.00 7,532.00 3,215.00
2018-03-31 9,916.00 7,426.00 3,347.00
2017-12-31 9,465.00 7,707.00 3,724.00
2017-09-30 9,241.00 7,940.00 3,642.00
2017-06-30 9,173.00 6,959.00 2,462.00
2017-03-31 9,120.00 7,143.00 2,444.00
2016-12-31 8,817.00 6,137.00 1,488.00
2016-09-30 8,732.00 5,178.00 457.00
2016-06-30 8,534.00 5,613.00 905.00
2016-03-31 8,846.00 5,774.00 1,354.00
2015-12-31 8,814.00 5,878.00 2,029.00
2015-09-30 8,700.10 5,940.38 2,143.93
2015-06-30 8,533.44 5,916.95 2,230.99
2015-03-31 8,895.27 5,843.16 2,723.46
2014-12-31 8,553.00 5,773.00 2,718.00
2014-09-30 8,384.22 5,955.36 2,726.24
2014-06-30 8,198.19 6,016.34 2,697.11
2014-03-31 8,390.12 5,193.61 2,103.77
2013-12-31 8,048.30 5,275.76 2,365.32
2013-09-30 7,865.57 5,304.40 2,347.49
2013-06-30 7,805.66 5,401.21 3,355.76
2013-03-31 7,895.94 5,379.59 4,263.86
2012-12-31 7,718.52 3,495.00 2,114.60
  • Energa's level of debt (69.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (65.5% vs 69.3% today).
  • Debt is well covered by operating cash flow (25.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
X
Financial health checks
We assess Energa'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. Energa 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 Energa'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 Energa dividends. Estimated to be 0.28% next year.
If you bought PLN2,000 of Energa 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 Energa's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Energa'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:ENG 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 43 Stocks 4.6%
Poland Market Average Dividend Yield Market Cap Weighted Average of 205 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.7%
Poland Top 25% Dividend Yield 75th Percentile 7.5%

Industry and Market average data is calculated daily.

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

WSE:ENG Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.08 4.00
2020-12-31 0.00 5.00
2019-12-31 0.00 5.00
WSE:ENG Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-03-14 0.000 0.000
2018-11-08 0.000 0.000
2018-08-09 0.000 0.000
2018-05-10 0.000 0.000
2018-03-15 0.000 0.000
2017-08-09 0.190 1.531
2016-08-11 0.490 5.268
2016-03-14 0.490 4.634
2015-05-12 1.440 8.829
2015-03-12 1.440 5.745
2014-03-07 1.000 4.737
2013-12-11 1.200 7.241

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

  • Unable to perform a dividend volatility check as Energa has not reported any payouts.
  • Unable to verify if Energa's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Energa's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Energa has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Energa's dividends in 3 years as they are not expected to pay a notable one for Poland.
X
Income/ dividend checks
We assess Energa's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Energa afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Energa 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 Energa'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
Alicja Klimiuk
COMPENSATION PLN741,200
TENURE AS CEO 0.7 years
CEO Bio

Ms. Alicja Barbara Klimiuk has been an Acting Chief Executive Officer of Energa SA since August, 2018 and serves as its Chief Operating Officer. Ms. Klimiuk serves as an Acting President of the Management Board at Energa SA and served as its Acting CEO until July 2, 2018. She served as Vice-President of Operations at Energa SA. Ms. Klimiuk serves as President at ENERGA-OPERATOR SA. She graduated from the Management Department of the University of Gdansk. She completed the Post-Graduate Course in Management at the Warsaw School of Economics and the Post-Graduate Course in Controlling in Corporate Management at the University of Gdansk.

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

Average tenure of the Energa management team in years:

2.2
Average Tenure
  • The tenure for the Energa management team is about average.
Management Team

Alicja Klimiuk

TITLE
Acting President of Management Board
COMPENSATION
PLN741K
TENURE
0.7 yrs

Jacek Koscielniak

TITLE
VP of Financial Matters & Member of Management Board
COMPENSATION
PLN797K
TENURE
2.2 yrs

Grzegorz Ksepko

TITLE
VP of Corporate Matters & Member of Management Board
COMPENSATION
PLN729K
TENURE
3.2 yrs

Agnieszka Terlikowska-Kulesza

TITLE
Secretary of Supervisory Board
COMPENSATION
PLN79K

Malgorzata Guzinska-Blonska

TITLE
Manager of the Financial Reporting Unit & Chief Accountant

Aleksander Korsak

TITLE
Head of Investor Relations

Roman Staskiewicz

TITLE
President of Energa Obrót
Board of Directors Tenure

Average tenure of the Energa board of directors in years:

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

Paula Ziemiecka-Ksiezak

TITLE
Chairwoman of Supervisory Board
COMPENSATION
PLN90K
TENURE
3.4 yrs

Zbigniew Wtulich

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
PLN79K
TENURE
3.8 yrs

Agnieszka Terlikowska-Kulesza

TITLE
Secretary of Supervisory Board
COMPENSATION
PLN79K
TENURE
1.8 yrs

Marek Szczepaniec

TITLE
Member of Supervisory Board
COMPENSATION
PLN79K
TENURE
3.3 yrs

Maciej Zóltkiewicz

TITLE
Member of Supervisory Board
COMPENSATION
PLN79K
TENURE
3.3 yrs

Andrzej Powalowski

TITLE
Member of Supervisory Board
COMPENSATION
PLN79K
TENURE
3.3 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 Energa'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. Energa 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

Those Who Purchased Energa (WSE:ENG) Shares Five Years Ago Have A 55% Loss To Show For It

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. … Looking back five years, both Energa's share price and EPS declined; the latter at a rate of 0.8% per year. … Readers should note that the share price has fallen faster than the EPS, at a rate of 15% per year, over the period.

Simply Wall St -

What Can We Expect From Energa SA's (WSE:ENG) Earnings In Next 12 Months?

On 31 December 2018, Energa SA (WSE:ENG) released its most recent earnings update. … with profits predicted to drop by -1.6% next year.

Simply Wall St -

Does Energa SA (WSE:ENG) Have A Good P/E Ratio?

We'll show how you can use Energa SA's (WSE:ENG) P/E ratio to inform your assessment of the investment opportunity. … Energa has a price to earnings ratio of 4.24, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Energa SA (WSE:ENG): Time For A Financial Health Check

While small-cap stocks, such as Energa SA (WSE:ENG) with its market cap of zł4.1b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

Calculating The Fair Value Of Energa SA (WSE:ENG)

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Do You Know Energa SA’s (WSE:ENG) Cash Situation?

I will take you through Energa’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … What is free cash flow. … Energa’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure

Simply Wall St -

Do Directors Own Energa SA (WSE:ENG) Shares?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Energa has a market capitalization of zł3.7b, so we would expect some institutional investors to have noticed the stock. … institutional investors have bought into the company.

Simply Wall St -

Examining Energa SA’s (WSE:ENG) Weak Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Does Energa SA's (WSE:ENG) 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). … To keep it practical, we'll show how Energa SA's (WSE:ENG) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Where Energa SA (WSE:ENG) Stands In Terms Of Earnings Growth Against Its Industry

Assessing Energa SA's (WSE:ENG) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how Energa is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its electric utilities industry peers. … Did ENG's recent earnings growth beat the long-term trend and the industry.

Simply Wall St -

Company Info

Description

Energa SA, together with its subsidiaries, generates, distributes, and sells electricity and heat in Poland. The company operates through Distribution, Generation, and Sales segments. It operates coal, hydropower, wind, biomass, and photovoltaic power plants with a total installed generation capacity of approximately 1.3 gigawatt of electrical power; and supplies electricity to approximately 3 million customers. It also sells electricity and gas to approximately 3 million customers. As of December 31, 2017, the company had 185 thousand kilometers of the power lines. The company was founded in 2006 and is based in Gdansk, Poland.

Details
Name: Energa SA
ENG
Exchange: WSE
Founded: 2006
PLN3,273,200,536
414,067,114
Website: http://www.energa.pl
Address: Energa SA
al. Grunwaldzka 472,
Gdansk,
80-309,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ENG Bearer Shares Warsaw Stock Exchange PL PLN 11. Dec 2013
DB EN2 Bearer Shares Deutsche Boerse AG DE EUR 11. Dec 2013
LSE 0QX7 Bearer Shares London Stock Exchange GB PLN 11. Dec 2013
Number of employees
Current staff
Staff numbers
9,686
Energa employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:52
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/14
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.