Loading...

TAURON Polska Energia

WSE:TPE
Snowflake Description

Good value with moderate growth potential.

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

TAURON Polska Energia S.A., through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity and heat in Poland. The last earnings update was 19 days ago. More info.


Add to Portfolio Compare Print
  • TAURON Polska Energia has significant price volatility in the past 3 months.
TPE Share Price and Events
7 Day Returns
1%
WSE:TPE
2.3%
PL Electric Utilities
-0.1%
PL Market
1 Year Returns
-22.4%
WSE:TPE
-14.7%
PL Electric Utilities
-2.4%
PL Market
TPE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TAURON Polska Energia (TPE) 1% -12.8% -16% -22.4% -36.2% -64.8%
PL Electric Utilities 2.3% -6.7% -9.6% -14.7% -30% -54.4%
PL Market -0.1% 0.5% 1.1% -2.4% 11.9% -3.4%
1 Year Return vs Industry and Market
  • TPE underperformed the Electric Utilities industry which returned -14.7% over the past year.
  • TPE underperformed the Market in Poland which returned -2.4% over the past year.
Price Volatility
TPE
Industry
5yr Volatility vs Market

TPE Value

 Is TAURON Polska Energia 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 TAURON Polska Energia 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 TAURON Polska Energia.

WSE:TPE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
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:TPE
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))
= 0.242 (1 + (1- 19%) (341.47%))
0.939
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.939 * 7.14%)
9.56%

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

The calculations below outline how an intrinsic value for TAURON Polska Energia 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:TPE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.56%)
2019 -1,444.63 Analyst x3 -1,318.62
2020 451.55 Analyst x4 376.21
2021 1,311.00 Analyst x2 996.97
2022 1,287.75 Analyst x2 893.87
2023 1,222.85 Analyst x2 774.77
2024 1,189.02 Est @ -2.77% 687.62
2025 1,176.16 Est @ -1.08% 620.85
2026 1,177.31 Est @ 0.1% 567.25
2027 1,188.19 Est @ 0.92% 522.55
2028 1,206.03 Est @ 1.5% 484.13
Present value of next 10 years cash flows PLN4,605.62
WSE:TPE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN1,206.03 × (1 + 2.85%) ÷ (9.56% – 2.85%)
PLN18,494.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN18,494.45 ÷ (1 + 9.56%)10
PLN7,424.12
WSE:TPE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN4,605.62 + PLN7,424.12
PLN12,029.74
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN12,029.74 / 1,752.55
PLN6.86
WSE:TPE Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN6.86
Current discount Discount to share price of PLN1.83
= -1 x (PLN1.83 - PLN6.86) / PLN6.86
73.3%

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

Current Discount
Amount off the current price TAURON Polska Energia is available for.
Intrinsic value
>50%
Share price is PLN1.83 vs Future cash flow value of PLN6.86
Current Discount Checks
For TAURON Polska Energia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TAURON Polska Energia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TAURON Polska Energia'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 TAURON Polska Energia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TAURON Polska Energia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:TPE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.12
WSE:TPE Share Price ** WSE (2019-04-18) in PLN PLN1.83
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 11.06x

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

** Primary Listing of TAURON Polska Energia.

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

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

= 1.83 ÷ 0.12

15.67x

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

  • TAURON Polska Energia is overvalued based on earnings compared to the PL Electric Utilities industry average.
  • TAURON Polska Energia is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does TAURON Polska Energia's expected growth come at a high price?
Raw Data
WSE:TPE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
38.6%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:TPE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.67x ÷ 38.6%

0.41x

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

  • TAURON Polska Energia is good value based on expected growth next year.
Price based on value of assets
What value do investors place on TAURON Polska Energia's assets?
Raw Data
WSE:TPE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN10.44
WSE:TPE Share Price * WSE (2019-04-18) in PLN PLN1.83
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:TPE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.83 ÷ 10.44

0.18x

* Primary Listing of TAURON Polska Energia.

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

  • TAURON Polska Energia is good value based on assets compared to the PL Electric Utilities industry average.
X
Value checks
We assess TAURON Polska Energia'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. TAURON Polska Energia has a total score of 4/6, 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.

TPE Future Performance

 How is TAURON Polska Energia expected to perform in the next 1 to 3 years based on estimates from 9 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
38.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TAURON Polska Energia expected to grow at an attractive rate?
  • TAURON Polska Energia's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • TAURON Polska Energia's earnings growth is expected to exceed the Poland market average.
  • TAURON Polska Energia's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:TPE Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:TPE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 38.6%
WSE:TPE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4%
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:TPE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:TPE Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 22,863 2
2022-12-31 23,135 2
2021-12-31 22,377 3,747 1,447 5
2020-12-31 21,045 3,290 1,038 9
2019-12-31 22,717 3,465 1,057 2
WSE:TPE Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 18,122 2,057 205
2018-09-30 17,844 2,963 1,041
2018-06-30 17,484 2,828 944
2018-03-31 17,650 3,346 1,377
2017-12-31 17,425 3,559 1,381
2017-09-30 17,529 3,580 1,285
2017-06-30 17,563 3,555 1,368
2017-03-31 17,673 3,474 684
2016-12-31 17,646 3,064 367
2016-09-30 17,622 3,010 -2,609
2016-06-30 17,849 3,184 -2,522
2016-03-31 18,039 3,171 -1,986

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TAURON Polska Energia's earnings are expected to grow significantly at over 20% yearly.
  • TAURON Polska Energia's revenue is expected to grow by 4% 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:TPE 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 9 Analyst Estimates (S&P Global) See Below

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

WSE:TPE 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 0.83 0.90 0.73 3.00
2020-12-31 0.61 0.74 0.53 6.00
2019-12-31 0.62 0.64 0.60 2.00
WSE:TPE Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.12
2018-09-30 0.59
2018-06-30 0.54
2018-03-31 0.79
2017-12-31 0.79
2017-09-30 0.73
2017-06-30 0.78
2017-03-31 0.39
2016-12-31 0.21
2016-09-30 -1.49
2016-06-30 -1.44
2016-03-31 -1.13

*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.
  • TAURON Polska Energia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess TAURON Polska Energia'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.
TAURON Polska Energia 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.

TPE Past Performance

  How has TAURON Polska Energia 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 TAURON Polska Energia'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.
  • TAURON Polska Energia's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • TAURON Polska Energia's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • TAURON Polska Energia's 1-year earnings growth is negative, it can't be compared to the PL Electric Utilities industry average.
Earnings and Revenue History
TAURON Polska Energia'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 TAURON Polska Energia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:TPE 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 18,121.75 204.88 1,102.72
2018-09-30 17,843.84 1,041.33 1,177.73
2018-06-30 17,483.54 943.53 1,130.40
2018-03-31 17,650.48 1,376.99 1,114.26
2017-12-31 17,424.55 1,380.66 1,143.55
2017-09-30 17,528.89 1,285.19 1,117.89
2017-06-30 17,563.49 1,368.20 1,118.57
2017-03-31 17,673.07 684.05 1,115.34
2016-12-31 17,646.49 367.47 1,128.66
2016-09-30 17,621.79 -2,609.48 1,131.46
2016-06-30 17,848.85 -2,522.41 1,138.28
2016-03-31 18,039.16 -1,986.12 1,163.12
2015-12-31 18,264.44 -1,807.32 1,151.16
2015-09-30 18,494.04 1,208.83 1,243.10
2015-06-30 18,528.64 1,169.13 1,260.11
2015-03-31 18,480.00 1,287.01 1,260.92
2014-12-31 18,577.48 1,180.89 1,276.05
2014-09-30 18,635.10 1,140.73 1,252.35
2014-06-30 18,762.97 1,189.38 1,241.19
2014-03-31 18,854.28 1,145.09 1,248.97
2013-12-31 19,131.12 1,308.32 1,264.03
2013-09-30 20,752.45 1,423.49 1,422.59
2013-06-30 22,112.60 1,468.62 1,413.11
2013-03-31 23,462.23 1,654.39 1,381.44
2012-12-31 24,752.99 1,476.39 1,371.74
2012-09-30 23,802.62 1,519.81 1,183.88
2012-06-30 22,738.06 1,398.08 1,127.84

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

TPE Health

 How is TAURON Polska Energia'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 TAURON Polska Energia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TAURON Polska Energia's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • TAURON Polska Energia's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TAURON Polska Energia'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 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from TAURON Polska Energia Company Filings, last reported 3 months ago.

WSE:TPE Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 18,428.48 10,963.38 1,090.26
2018-09-30 19,000.29 9,752.85 1,087.43
2018-06-30 18,719.24 9,866.84 771.59
2018-03-31 18,776.99 9,786.26 643.84
2017-12-31 18,067.81 9,852.80 1,074.19
2017-09-30 17,876.14 10,971.26 2,342.68
2017-06-30 17,668.76 9,237.71 371.20
2017-03-31 17,304.29 9,498.83 335.01
2016-12-31 16,679.32 8,979.53 443.92
2016-09-30 16,377.52 8,530.61 454.23
2016-06-30 16,084.12 8,825.05 675.50
2016-03-31 16,380.08 8,857.01 535.41
2015-12-31 16,048.16 8,138.65 393.58
2015-09-30 18,866.70 8,417.49 1,122.28
2015-06-30 18,491.79 8,125.64 921.49
2015-03-31 18,513.34 8,063.55 1,151.73
2014-12-31 17,996.56 8,113.77 1,500.56
2014-09-30 18,137.09 6,630.52 322.04
2014-06-30 17,822.63 6,413.88 262.65
2014-03-31 17,869.14 6,514.81 363.80
2013-12-31 17,793.50 5,864.14 652.79
2013-09-30 17,675.34 5,897.10 1,352.79
2013-06-30 17,293.17 5,942.93 923.89
2013-03-31 17,316.06 6,314.28 1,016.31
2012-12-31 16,800.02 5,566.15 1,036.35
2012-09-30 16,839.41 5,638.71 1,162.12
2012-06-30 16,439.21 5,144.19 714.09
  • TAURON Polska Energia's level of debt (59.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (33% vs 59.5% today).
  • Debt is not well covered by operating cash flow (18.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.7x coverage).
X
Financial health checks
We assess TAURON Polska Energia'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. TAURON Polska Energia has a total score of 1/6, 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.

TPE Dividends

 What is TAURON Polska Energia'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 TAURON Polska Energia dividends. Estimated to be 0.55% next year.
If you bought PLN2,000 of TAURON Polska Energia 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 TAURON Polska Energia's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate TAURON Polska Energia'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:TPE 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 9 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:TPE Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.05 3.00
2020-12-31 0.00 6.00
2019-12-31 0.00 6.00
WSE:TPE Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-03-13 0.000 0.000
2017-11-08 0.000 0.000
2017-08-17 0.000 0.000
2017-05-11 0.000 0.000
2017-03-15 0.000 0.000
2016-05-12 0.100 3.612
2016-03-09 0.100 3.441
2015-08-20 0.150 5.093
2015-05-14 0.150 3.640
2015-03-12 0.150 3.181
2014-11-13 0.190 3.793
2014-08-20 0.190 3.639
2014-05-14 0.150 2.871
2014-03-18 0.190 3.674
2013-11-14 0.200 4.299
2013-08-22 0.200 4.243
2013-05-09 0.150 3.465
2013-04-15 0.150 3.683
2013-03-15 0.200 4.627
2012-08-23 0.310 6.686
2012-05-10 0.310 6.871
2012-03-19 0.310 6.327
2011-05-11 0.150 2.694
2011-03-15 0.150 2.398

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

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

TPE Management

 What is the CEO of TAURON Polska Energia'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
Filip Grzegorczyk
COMPENSATION PLN817,000
AGE 40
TENURE AS CEO 2.4 years
CEO Bio

Mr. Filip Grzegorczyk has been the President of the Management Board at Tauron Polska Energia Spolka Akcyjna since November 15, 2016. Mr. Grzegorczyk served as Chairman of the Supervisory Board of TAURON Wytwarzanie S.A (formerly Poludniowy Koncern Energetyczny S.A).

CEO Compensation
  • Filip's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Filip's remuneration is higher than average for companies of similar size in Poland.
Management Team Tenure

Average tenure and age of the TAURON Polska Energia management team in years:

2.8
Average Tenure
40
Average Age
  • The tenure for the TAURON Polska Energia management team is about average.
Management Team

Filip Grzegorczyk

TITLE
President of the Management Board
COMPENSATION
PLN817K
AGE
40
TENURE
2.4 yrs

Jaroslaw Broda

TITLE
Vice-President of the Management Board for Asset Management & Development
COMPENSATION
PLN1M
AGE
38
TENURE
3.3 yrs

Kamil Kamiñski

TITLE
Vice President of the Management Board for Customer & Corporate Affairs
COMPENSATION
PLN1M
AGE
39
TENURE
2 yrs

Marek Wadowski

TITLE
Vice-President of the Management Board for Finance
COMPENSATION
PLN1M
AGE
43
TENURE
3.3 yrs

Jacek Szyke

TITLE
Secretary & Member of the Supervisory Board
AGE
79

Oliwia Tokarczyk

TITLE
Executive Director for Taxes & Accounting
Board of Directors Tenure

Average tenure and age of the TAURON Polska Energia board of directors in years:

1.8
Average Tenure
50.5
Average Age
  • The average tenure for the TAURON Polska Energia board of directors is less than 3 years, this suggests a new board.
Board of Directors

Beata Chlodzinska

TITLE
Chair of the Supervisory Board
AGE
46
TENURE
3.7 yrs

Teresa Famulska

TITLE
Vice Chair of the Supervisory Board
AGE
60
TENURE
1.8 yrs

Jacek Szyke

TITLE
Secretary & Member of the Supervisory Board
AGE
79
TENURE
8.6 yrs

Agnieszka Wozniak

TITLE
Member of the Supervisory Board
AGE
43
TENURE
2.3 yrs

Jan Pludowski

TITLE
Member of the Supervisory Board
AGE
67
TENURE
2.3 yrs

Pawel Pampuszko

TITLE
Member of the Supervisory Board
AGE
37
TENURE
1.8 yrs

Radoslaw Domagalski-Labedzki

TITLE
Member of the Supervisory Board
AGE
40
TENURE
1.8 yrs

Barbara Lasak-Jarszak

TITLE
Member of the Supervisory Board
AGE
55
TENURE
1.8 yrs

Marcin Szlenk

TITLE
Member of the Supervisory Board
TENURE
1 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 TAURON Polska Energia'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. TAURON Polska Energia 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.

TPE News

Simply Wall St News

Investors Who Bought TAURON Polska Energia (WSE:TPE) Shares Five Years Ago Are Now Down 60%

(WSE:TPE) share price managed to fall 60% over five long years. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … Looking back five years, both TAURON Polska Energia's share price and EPS declined; the latter at a rate of 6.1% per year.

Simply Wall St -

Here's What TAURON Polska Energia S.A.'s (WSE:TPE) P/E Ratio Is Telling Us

We'll show how you can use TAURON Polska Energia S.A.'s (WSE:TPE) P/E ratio to inform your assessment of the investment opportunity. … TAURON Polska Energia has a P/E ratio of 3.61, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Here’s What TAURON Polska Energia S.A.’s (WSE:TPE) Return On Capital Can Tell Us

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed

Simply Wall St -

Is TAURON Polska Energia S.A.'s (WSE:TPE) Future Growth Already Accounted For In Today's Price?

See our latest analysis for TAURON Polska Energia? … What can we expect from TAURON Polska Energia in the future. … Analysts are predicting good growth prospects for TAURON Polska Energia over the next couple of years

Simply Wall St -

How Financially Strong Is TAURON Polska Energia S.A. (WSE:TPE)?

(WSE:TPE) is a small-cap stock with a market capitalization of zł4.2b. … 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 -

Is TAURON Polska Energia S.A. (WSE:TPE) Potentially Undervalued?

saw a significant share price rise of over 20% in the past couple of months on the WSE. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s take a look at TAURON Polska Energia’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

TAURON Polska Energia S.A. (WSE:TPE): Poised For Long Term Success?

In September 2018, TAURON Polska Energia S.A. … as a 1.3% increase in profits is expected in the upcoming year, … the past 5-year average growth rate of -5.9%

Simply Wall St -

Is TAURON Polska Energia SA (WSE:TPE) A Cash Cow?

Two important questions to ask before you buy TAURON Polska Energia SA (WSE:TPE) is, how it makes money and how it spends its cash. … I’ve analysed below, the health and outlook of TAURON Polska Energia’s cash flow, which will help you understand the stock from a cash standpoint. … What is TAURON Polska Energia's cash yield.

Simply Wall St -

Does TAURON Polska Energia SA's (WSE:TPE) Past Performance Indicate A Weaker Future?

When TAURON Polska Energia SA (WSE:TPE) released its most recent earnings update (30 September 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well TAURON Polska Energia has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of -5.9%, indicating the rate at which TPE is growing has slowed down

Simply Wall St -

TAURON Polska Energia SA (WSE:TPE): What Are Investors Earning On Their Capital?

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand TAURON Polska Energia’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

TPE Company Info

Description

TAURON Polska Energia S.A., through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity and heat in Poland. The company generates electricity from renewable energy sources, including biomass burning and cofiring, and hydroelectric power plants, as well as wind farms. It is also involved in the mining of hard coal; extraction of stone, including limestone, for the needs of power generation, steel, construction, and road building industries. In addition, the company supplies electricity and natural gas supply to the consumers; and engages in the wholesale trade of electricity, natural gas, and derivative products, as well as trading and management of CO2 emission allowances, property rights arising from certificates of origin that confirm electricity generation from renewable sources, and cogeneration and property rights arising from energy efficiency certificates and fuels. Further, it produces sorbents for wet desulphurization installations and fluidized bed boilers. The company was formerly known as Energetyka Poludnie S.A. and changed its name to TAURON Polska Energia S.A. in November 2007. TAURON Polska Energia S.A. was founded in 2006 and is based in Katowice, Poland.

Details
Name: TAURON Polska Energia S.A.
TPE
Exchange: WSE
Founded: 2006
PLN3,210,670,489
1,752,549,394
Website: http://www.tauron.pl
Address: TAURON Polska Energia S.A.
Katowice Business Point,
ul. ks. Piotra Sciegiennego 3,
Katowice,
40-114,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE TPE Class AA Bearer Shares Warsaw Stock Exchange PL PLN 30. Jun 2010
DB 1T5 Class AA Bearer Shares Deutsche Boerse AG DE EUR 30. Jun 2010
LSE 0N2X Class AA Bearer Shares London Stock Exchange GB PLN 30. Jun 2010
Number of employees
Current staff
Staff numbers
25,365
TAURON Polska Energia employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 21:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/10
Last earnings filing: 2019/04/03
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.