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Polenergia

WSE:PEP
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PEP
WSE
PLN963M
Market Cap
  1. Home
  2. PL
  3. Utilities
Company description

Polenergia SA, together with its subsidiaries, generates, distributes, and transmits electricity in Poland. The last earnings update was 45 days ago. More info.


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PEP Share Price and Events
Price Volatility
PEP
Industry
5yr Volatility vs Market

PEP Value

 Is Polenergia 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 Polenergia 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 Polenergia.

WSE:PEP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year PL Government Bond Rate 3.3%

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:PEP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6.7%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.43
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.435 (1 + (1- 19%) (101.09%))
0.791
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)
= 3.33% + (0.8 * 6.67%)
8.67%

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

The calculations below outline how an intrinsic value for Polenergia is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:PEP DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (PLN, Millions) 143.55 139.59 164.72 192.72 223.55
Source Analyst x1 Analyst x1 Est @ 18%, capped from 37.06% Est @ 17%, capped from 37.06% Est @ 16%, capped from 37.06%
Present Value
Discounted (@ 8.67%)
132.10 118.21 128.37 138.22 147.54
Present value of next 5 years cash flows PLN664.45
WSE:PEP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= PLN223.55 × (1 + 3.33%) ÷ (8.67% – 3.33%)
PLN4,326.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= PLN4,326.96 ÷ (1 + 8.67%)5
PLN2,855.79
WSE:PEP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= PLN664.45 + PLN2,855.79
PLN3,520.24
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN3,520.24 / 45.44
PLN77.46
WSE:PEP Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN77.46
Current discount Discount to share price of PLN21.20
= -1 x (PLN21.20 - PLN77.46) / PLN77.46
72.6%

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

Current Discount
Amount off the current price Polenergia is available for.
Intrinsic value
>50%
Share price is PLN21.2 vs Future cash flow value of PLN77.46
Current Discount Checks
For Polenergia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Polenergia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Polenergia'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 Polenergia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polenergia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PEP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in PLN PLN-2.78
WSE:PEP Share Price ** WSE (2018-09-21) in PLN PLN21.2
Europe Renewable Energy Industry PE Ratio Median Figure of 42 Publicly-Listed Renewable Energy Companies 23x
Poland Market PE Ratio Median Figure of 468 Publicly-Listed Companies 10.77x

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

** Primary Listing of Polenergia.

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

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

= 21.2 ÷ -2.78

-7.63x

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

  • Polenergia is loss making, we can't compare its value to the Europe Renewable Energy industry average.
  • Polenergia is loss making, we can't compare the value of its earnings to the Poland market.
Price based on expected Growth
Does Polenergia's expected growth come at a high price?
Raw Data
WSE:PEP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -7.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
113.2%per year
Europe Renewable Energy Industry PEG Ratio Median Figure of 20 Publicly-Listed Renewable Energy Companies 0.7x
Poland Market PEG Ratio Median Figure of 89 Publicly-Listed Companies 1.01x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= -7.63x ÷ 113.2%

-0.07x

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

  • Polenergia is loss making, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polenergia's assets?
Raw Data
WSE:PEP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in PLN PLN25.17
WSE:PEP Share Price * WSE (2018-09-21) in PLN PLN21.2
Poland Renewable Energy Industry PB Ratio Median Figure of 6 Publicly-Listed Renewable Energy Companies 1x
Poland Market PB Ratio Median Figure of 708 Publicly-Listed Companies 1.03x
WSE:PEP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 21.2 ÷ 25.17

0.84x

* Primary Listing of Polenergia.

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

  • Polenergia is good value based on assets compared to the PL Renewable Energy industry average.
X
Value checks
We assess Polenergia'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 Renewable Energy 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 Renewable Energy industry average (and greater than 0)? (1 check)
  5. Polenergia has a total score of 3/6, 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.

PEP Future Performance

 How is Polenergia expected to perform in the next 1 to 3 years based on estimates from 2 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
113.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polenergia expected to grow at an attractive rate?
  • Polenergia's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Polenergia's earnings growth is expected to exceed the Poland market average.
  • Polenergia's revenues are expected to decrease over the next 1-3 years, this is below the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:PEP Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:PEP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 113.2%
WSE:PEP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -0.3%
Europe Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 19.1%
Europe Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.2%

*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:PEP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:PEP Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 2,956 54 1
2019-12-31 2,786 44 2
2018-12-31 2,788 -18 1
WSE:PEP Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-06-30 2,994 101 -126
2018-03-31 2,799 146 -89
2017-12-31 2,762 112 -88
2017-09-30 2,851 158 -122
2017-06-30 2,973 163 -85
2017-03-31 2,984 176 -146
2016-12-31 2,997 208 -112
2016-09-30 2,896 160 -59
2016-06-30 2,784 258 6
2016-03-31 2,817 207 77
2015-12-31 2,772 226 67
2015-09-30 2,677 241 69

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polenergia's earnings are expected to grow significantly at over 20% yearly.
  • Polenergia's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:PEP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Polenergia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PEP Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.20 1.20 1.20 1.00
2019-12-31 1.28 1.28 1.28 1.00
2018-12-31 -0.39 -0.39 -0.39 1.00
WSE:PEP Past Financials Data
Date (Data in PLN Millions) EPS *
2018-06-30 -2.78
2018-03-31 -1.96
2017-12-31 -1.93
2017-09-30 -2.68
2017-06-30 -1.88
2017-03-31 -3.22
2016-12-31 -2.45
2016-09-30 -1.31
2016-06-30 0.14
2016-03-31 1.70
2015-12-31 1.48
2015-09-30 1.52

*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.
  • Polenergia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Polenergia'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.
Polenergia has a total score of 3/6, 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.

PEP Past Performance

  How has Polenergia 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 Polenergia's growth in the last year to its industry (Renewable Energy).
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.
  • Polenergia does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Polenergia's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Polenergia's 1-year growth to the Europe Renewable Energy industry average as it is not currently profitable.
Earnings and Revenue History
Polenergia'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 Polenergia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PEP Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 2,993.62 -126.23 40.99
2018-03-31 2,799.25 -89.21 37.33
2017-12-31 2,762.38 -87.73 36.41
2017-09-30 2,851.44 -121.63 29.55
2017-06-30 2,972.79 -85.28 30.34
2017-03-31 2,984.21 -146.39 32.97
2016-12-31 2,996.77 -111.53 33.70
2016-09-30 2,896.37 -59.50 36.56
2016-06-30 2,783.58 6.38 39.74
2016-03-31 2,817.15 77.19 35.85
2015-12-31 2,772.44 67.37 35.28
2015-09-30 2,677.30 68.94 33.27
2015-06-30 2,215.39 61.24 30.00
2015-03-31 1,570.10 52.26 25.15
2014-12-31 934.51 31.35 19.86
2014-09-30 330.70 16.78 13.99
2014-06-30 144.36 8.51 11.17
2014-03-31 143.18 6.65 12.31
2013-12-31 139.47 5.96 12.03
2013-09-30 141.07 14.78 13.64
2013-06-30 140.81 8.43 19.45
2013-03-31 133.58 11.49 20.65
2012-12-31 131.77 17.11 21.58
2012-09-30 187.41 39.43 22.67
2012-06-30 175.78 38.62 19.44
2012-03-31 166.38 40.92 18.98
2011-12-31 147.46 27.72 18.72
2011-09-30 120.83 21.66 17.90

*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.
  • It is difficult to establish if Polenergia has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Polenergia has efficiently used its assets last year compared to the Europe Renewable Energy industry average (Return on Assets) as it is loss-making.
  • Polenergia's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Polenergia'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 Renewable Energy 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.
Polenergia has a total score of 0/6, 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.

PEP Health

 How is Polenergia'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 Polenergia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polenergia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polenergia's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Polenergia'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 covered by short term assets, assets are 1x 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 Polenergia Company Filings, last reported 2 months ago.

WSE:PEP Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 1,144.64 973.93 348.34
2018-03-31 1,181.81 952.05 271.53
2017-12-31 1,181.99 1,003.52 417.20
2017-09-30 1,184.34 1,036.83 399.46
2017-06-30 1,269.36 1,055.64 380.17
2017-03-31 1,269.77 1,083.96 412.94
2016-12-31 1,267.43 1,116.65 477.49
2016-09-30 1,302.42 1,128.61 404.93
2016-06-30 1,350.77 1,149.88 476.89
2016-03-31 1,411.02 1,137.07 440.28
2015-12-31 1,397.25 1,147.89 463.84
2015-09-30 1,390.03 975.33 484.27
2015-06-30 1,371.38 911.29 316.12
2015-03-31 1,355.33 784.46 425.66
2014-12-31 1,333.98 787.16 531.02
2014-09-30 1,315.51 854.31 486.86
2014-06-30 521.28 311.67 161.08
2014-03-31 521.10 313.79 195.13
2013-12-31 515.26 322.25 208.14
2013-09-30 515.86 325.08 206.78
2013-06-30 515.12 337.44 251.39
2013-03-31 516.58 343.74 213.02
2012-12-31 511.63 352.70 263.24
2012-09-30 501.26 357.93 292.38
2012-06-30 512.10 360.45 310.63
2012-03-31 448.48 347.03 93.04
2011-12-31 423.14 610.57 131.79
2011-09-30 382.45 632.13 132.26
  • Polenergia's level of debt (85.1%) 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 85.1% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Polenergia has sufficient cash runway for more than 3 years based on current financial obligations.
  • Polenergia has sufficient cash runway for more than 3 years if financial obligations continue to reduce at historical rates of -68.1% each year.
X
Financial health checks
We assess Polenergia'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. Polenergia 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.

PEP Dividends

 What is Polenergia'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 Polenergia dividends.
If you bought PLN2,000 of Polenergia 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 Polenergia's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Polenergia'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:PEP 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 2 Analyst Estimates (S&P Global) See Below
Europe Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 3%
Poland Market Average Dividend Yield Market Cap Weighted Average of 214 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Poland Bottom 25% Dividend Yield 25th Percentile 2.5%
Poland Top 25% Dividend Yield 75th Percentile 7.8%

Industry and Market average data is calculated daily.

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

WSE:PEP Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2018-12-31 0.00 1.00
WSE:PEP Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2017-11-08 0.000 0.000
2017-08-10 0.000 0.000
2017-05-11 0.000 0.000
2017-02-17 0.000 0.000
2017-02-16 0.000 0.000
2016-05-12 0.500 4.036
2016-02-17 0.500 2.444

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

  • Unable to perform a dividend volatility check as Polenergia has not reported any payouts.
  • Unable to verify if Polenergia's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Polenergia's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Polenergia has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Polenergia's dividends in 3 years as they are not expected to pay a notable one for Poland.
X
Income/ dividend checks
We assess Polenergia's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Polenergia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polenergia 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.

PEP Management

 What is the CEO of Polenergia'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.
  • Polenergia has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Polenergia management team in years:

0.7
Average Tenure
  • The average tenure for the Polenergia management team is less than 2 years, this suggests a new team.
Management Team

Jacek Glowacki

TITLE
President of the Management Board & CFO
COMPENSATION
PLN2M
AGE
63
TENURE
0.4 yrs

Michal Michalski

TITLE
Member of Management Board
TENURE
1.8 yrs

Robert Nowak

TITLE
Member of the Management Board
TENURE
0.7 yrs

Jacek Suchenek

TITLE
Member of the Management Board
TENURE
0.7 yrs

Bogdan Warchol

TITLE
Director of Investment Department

Agnieszka Grzeszczak

TITLE
Head of Accounting
Board of Directors Tenure

Average tenure of the Polenergia board of directors in years:

2.8
Average Tenure
  • The average tenure for the Polenergia board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tomasz Mikolajczak

TITLE
Chairman of the Supervisory Board
COMPENSATION
PLN54K

Lukasz Redziniak

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
PLN36K
AGE
49

Arkadiusz Jastrzebski

TITLE
Member of Supervisory Board
COMPENSATION
PLN36K
TENURE
5.8 yrs

Mariusz Nowak

TITLE
Member of Supervisory Board
COMPENSATION
PLN36K
TENURE
5.8 yrs

Dawid Jakubowicz

TITLE
Member of Supervisory Board
COMPENSATION
PLN2K
TENURE
2.8 yrs

Orest Nazaruk

TITLE
Member of Supervisory Board
COMPENSATION
PLN2K
TENURE
2.8 yrs

Brian Bode

TITLE
Member of Supervisory Board
TENURE
2.6 yrs

Dominik Libicki

TITLE
Member of Supervisory Board
TENURE
2.5 yrs

Dagmara Gorzelana-Królikowska

TITLE
Member of Supervisory Board
TENURE
2.5 yrs
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Polenergia's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of 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. Polenergia 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.

PEP News

External News
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Simply Wall St News

Should You Buy Polenergia SA (WSE:PEP) At zł018.45?

saw a decent share price growth in the teens level on the WSE over the last few months. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.

Simply Wall St -

Negative Sentiment Around Polenergia SA (WSE:PEP) Is Justified

Whether a company has a good future, in terms of its business operation and financial health, is an important question to address. … PEP has high near term liquidity, with short term assets (cash and other liquid assets) amply covering upcoming one-year liabilities, as well as long-term commitments. … A good company is reflected in its financials, and for PEP, the financials don't look good.

Simply Wall St -

Polenergia SA's (WSE:PEP) Most Important Factor To Consider

Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt Along with a positive operating cash flow, Polenergia also generates a positive free cash flow. … Below is a table of Polenergia’s operating cash flow in the past year, as well as the anticipated level going forward. … Current +1 year +2 year +3 year Operating Cash Flow (OCF) ZŁ111.59M ZŁ81.10M ZŁ105.60M ZŁ158.36M OCF Growth Year-On-Year -27.32% 30.21% 49.96% OCF Growth From Current Year -5.37% 41.91% Next Steps: Although its positive operating cash flow, and high future growth, is appealing, the low free cash flow yield is unattractive.

Simply Wall St -

Has Polenergia SA (WSE:PEP) Improved Earnings Growth In Recent Times?

I look at data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … WSE:PEP Income Statement Apr 4th 18 We can further examine Polenergia's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past five years Polenergia's top-line has grown by 44.82% on average, implying that the company is in a high-growth phase with expenses shooting ahead of revenues, leading to annual losses.

Simply Wall St -

Is It The Right Time To Buy Polenergia SA (WSE:PEP)?

Polenergia SA (WSE:PEP), a renewable energy company based in Poland, saw a significant share price rise of over 20% in the past couple of months on the WSE. … Polenergia’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … Though in the case of Polenergia, it is expected to deliver a relatively unexciting top-line growth of 3.68% in the next few years, which doesn’t help build up its investment thesis.

Simply Wall St -

What You Must Know About Polenergia SA's (WSE:PEP) Financial Strength

How does PEP’s operating cash flow stack up against its debt? … On top of this, PEP has generated ZŁ111.59M in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 11.12%, meaning that PEP’s operating cash is not sufficient to cover its debt. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: PEP’s debt and cash flow levels indicate room for improvement.

Simply Wall St -

PEP Company Info

Map
Description

Polenergia SA, together with its subsidiaries, generates, distributes, and transmits electricity in Poland. It produces energy from conventional and renewable sources, such as wind, gas, coal, and biomass. The company distributes electricity to industrial plants, shopping centers, and housing developments in various regions of Poland through its distribution utilities; distributes and transmits gaseous fuels to industrial plants through its distribution infrastructure; and sells and trades in electric energy and green certificates. It also produces pellets. The company was formerly known as Polish Energy Partners Spolka Akcyjna. The company was founded in 1997 and is based in Warsaw, Poland.

Details
Name: Polenergia SA
PEP
Exchange: WSE
Founded: 1997
PLN963,403,196
45,443,547
Website: http://www.polenergia.pl
Address: Polenergia SA
ul. Krucza 24/26,
Warsaw,
00-526,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PEP Bearer Shares Warsaw Stock Exchange PL PLN 13. May 2005
LSE 0O5P Bearer Shares London Stock Exchange GB PLN 13. May 2005
Number of employees
Current staff
Staff numbers
0
Polenergia employees.
Industry
Renewable Electricity
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/09/22 18:14
End of day share price update: 2018/09/21 00:00
Last estimates confirmation: 2018/08/28
Last earnings filing: 2018/08/08
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.