Loading...

Asseco Poland

OTCPK:ASOZ.F
Snowflake Description

6 star dividend payer with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASOZ.F
OTCPK
PLN4B
Market Cap
  1. Home
  2. US
  3. Software
Company description

Asseco Poland S.A. develops and produces software products. The last earnings update was 121 days ago. More info.


Add to Portfolio Compare Print
ASOZ.F Share Price and Events
7 Day Returns
0%
OTCPK:ASOZ.F
2.4%
US Software
1.2%
US Market
1 Year Returns
-
OTCPK:ASOZ.F
25.6%
US Software
3%
US Market
ASOZ.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Asseco Poland (ASOZ.F) 0% 0% - - -15.1% -18.2%
US Software 2.4% 5.5% 19.8% 25.6% 110.4% 139.4%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • No trading data on ASOZ.F.
  • No trading data on ASOZ.F.
Price Volatility
ASOZ.F
Industry
5yr Volatility vs Market

ASOZ.F Value

 Is Asseco Poland 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 Asseco Poland 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 Asseco Poland.

OTCPK:ASOZ.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 OTCPK:ASOZ.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.1%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.141 (1 + (1- 19%) (39.89%))
1.341
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.341 * 7.14%)
12.31%

Discounted Cash Flow Calculation for OTCPK:ASOZ.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Asseco Poland 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.

OTCPK:ASOZ.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 12.31%)
2019 689.67 Analyst x3 614.09
2020 673.00 Analyst x2 533.59
2021 701.50 Analyst x2 495.24
2022 715.00 Analyst x1 449.46
2023 728.00 Analyst x1 407.48
2024 743.15 Est @ 2.08% 370.38
2025 760.06 Est @ 2.28% 337.30
2026 778.40 Est @ 2.41% 307.59
2027 797.91 Est @ 2.51% 280.75
2028 818.45 Est @ 2.57% 256.42
Present value of next 10 years cash flows PLN4,052.30
OTCPK:ASOZ.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN818.45 × (1 + 2.73%) ÷ (12.31% – 2.73%)
PLN8,779.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN8,779.95 ÷ (1 + 12.31%)10
PLN2,750.74
OTCPK:ASOZ.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN4,052.30 + PLN2,750.74
PLN6,803.05
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN6,803.05 / 83.00
PLN81.96
OTCPK:ASOZ.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:ASOZ.F represents 0.2384x of WSE:ACP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.2384x
Value per Share
(Listing Adjusted, USD)
= Value per Share (PLN) x Listing Adjustment Factor
= PLN 81.96 x 0.2384
$19.54
Value per share (USD) From above. $19.54
Current discount Discount to share price of $12.68
= -1 x ($12.68 - $19.54) / $19.54
35.1%

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

Current Discount
Amount off the current price Asseco Poland is available for.
Intrinsic value
35%
Share price is $12.68 vs Future cash flow value of $19.54
Current Discount Checks
For Asseco Poland to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Asseco Poland's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Asseco Poland's share price is below the future cash flow value, but not 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 Asseco Poland's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Asseco Poland's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:ASOZ.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN3.65
WSE:ACP Share Price ** WSE (2019-01-25) in PLN PLN53.2
United States of America Software Industry PE Ratio Median Figure of 84 Publicly-Listed Software Companies 53.03x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

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

** Primary Listing of Asseco Poland.

OTCPK:ASOZ.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 53.2 ÷ 3.65

14.56x

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

  • Asseco Poland is good value based on earnings compared to the US Software industry average.
  • Asseco Poland is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Asseco Poland's expected growth come at a high price?
Raw Data
OTCPK:ASOZ.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
-2.5%per year
United States of America Software Industry PEG Ratio Median Figure of 66 Publicly-Listed Software Companies 3.6x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

OTCPK:ASOZ.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.56x ÷ -2.5%

-5.87x

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

  • Asseco Poland 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 Asseco Poland's assets?
Raw Data
OTCPK:ASOZ.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN67.53
WSE:ACP Share Price * WSE (2019-01-25) in PLN PLN53.2
United States of America Software Industry PB Ratio Median Figure of 220 Publicly-Listed Software Companies 5.84x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
OTCPK:ASOZ.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 53.2 ÷ 67.53

0.79x

* Primary Listing of Asseco Poland.

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

  • Asseco Poland is good value based on assets compared to the US Software industry average.
X
Value checks
We assess Asseco Poland'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Asseco Poland 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.

ASOZ.F Future Performance

 How is Asseco Poland expected to perform in the next 1 to 3 years based on estimates from 6 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
-2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Asseco Poland expected to grow at an attractive rate?
  • Asseco Poland's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Asseco Poland's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Asseco Poland's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:ASOZ.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:ASOZ.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts -2.5%
OTCPK:ASOZ.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.1%
United States of America Software Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
United States of America Software Industry Revenue Growth Rate Market Cap Weighted Average 10.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
OTCPK:ASOZ.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:ASOZ.F Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 10,092 1
2022-12-31 9,943 1
2021-12-31 10,015 986 328 2
2020-12-31 9,765 937 289 6
2019-12-31 9,449 928 290 6
2018-12-31 9,235 786 320 5
OTCPK:ASOZ.F Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 9,105 908 303
2018-06-30 8,128 761 511
2018-03-31 7,911 733 475
2017-12-31 7,831 691 467
2017-09-30 7,663 609 475
2017-06-30 8,323 862 272
2017-03-31 8,156 774 297
2016-12-31 7,932 883 301
2016-09-30 7,869 889 350
2016-06-30 7,722 828 370
2016-03-31 7,509 851 353
2015-12-31 7,256 846 365

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Asseco Poland's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Asseco Poland's revenue is expected to grow by 2.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:ASOZ.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Asseco Poland Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ASOZ.F 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 4.00 4.00 4.00 1.00
2020-12-31 3.61 3.70 3.51 2.00
2019-12-31 3.73 4.22 3.47 3.00
2018-12-31 3.92 4.20 3.64 2.00
OTCPK:ASOZ.F Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30 3.65
2018-06-30 6.15
2018-03-31 5.72
2017-12-31 5.62
2017-09-30 5.74
2017-06-30 3.28
2017-03-31 3.57
2016-12-31 3.63
2016-09-30 4.21
2016-06-30 4.46
2016-03-31 4.25
2015-12-31 4.40

*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.
  • Asseco Poland is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Asseco Poland'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Asseco Poland 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.

ASOZ.F Past Performance

  How has Asseco Poland 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 Asseco Poland's growth in the last year to its industry (Software).
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.
  • Asseco Poland's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Asseco Poland's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Asseco Poland's 1-year earnings growth is negative, it can't be compared to the US Software industry average.
Earnings and Revenue History
Asseco Poland'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 Asseco Poland Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:ASOZ.F Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 9,105.30 303.30 1,200.90
2018-06-30 8,128.40 510.60 1,086.20
2018-03-31 7,911.20 474.60 1,059.10
2017-12-31 7,830.50 466.60 1,071.70
2017-09-30 7,662.60 475.40 1,043.00
2017-06-30 8,323.40 272.20 1,135.30
2017-03-31 8,155.90 296.70 1,126.60
2016-12-31 7,932.00 301.30 1,101.70
2016-09-30 7,868.90 350.00 1,084.10
2016-06-30 7,721.70 370.00 1,060.00
2016-03-31 7,508.60 353.10 1,028.20
2015-12-31 7,256.20 365.00 995.20
2015-09-30 6,892.80 329.30 948.40
2015-06-30 6,624.00 312.50 921.40
2015-03-31 6,410.00 330.20 886.40
2014-12-31 6,231.90 348.70 870.90
2014-09-30 6,100.00 302.50 847.10
2014-06-30 5,982.60 298.20 833.80
2014-03-31 5,886.40 307.70 831.30
2013-12-31 5,780.00 302.90 810.50
2013-09-30 5,613.50 351.80 825.70
2013-06-30 5,572.70 353.70 826.40
2013-03-31 5,562.80 357.20 833.00
2012-12-31 5,529.10 370.60 833.60
2012-09-30 5,431.50 384.70 812.70
2012-06-30 5,286.60 409.60 779.60
2012-03-31 5,036.90 404.40 756.20

*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.
  • Asseco Poland has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Asseco Poland used its assets less efficiently than the US Software industry average last year based on Return on Assets.
  • Asseco Poland has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Asseco Poland'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 Software 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.
Asseco Poland has a total score of 2/6, 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.

ASOZ.F Health

 How is Asseco Poland'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 Asseco Poland's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Asseco Poland is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Asseco Poland's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Asseco Poland'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.6x 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 Asseco Poland Company Filings, last reported 5 months ago.

OTCPK:ASOZ.F Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 7,472.40 1,761.30 1,652.60
2018-06-30 7,359.60 1,708.60 1,495.20
2018-03-31 10,789.20 1,568.80 1,598.00
2017-12-31 10,846.60 1,517.60 1,597.10
2017-09-30 6,126.80 325.10 489.10
2017-06-30 8,311.20 1,612.90 1,136.90
2017-03-31 8,625.30 1,416.10 1,263.50
2016-12-31 8,670.60 1,377.10 1,663.30
2016-09-30 8,460.30 1,144.30 1,297.20
2016-06-30 8,366.50 1,293.90 1,504.70
2016-03-31 8,324.60 1,181.70 1,769.50
2015-12-31 8,327.90 1,258.20 1,726.90
2015-09-30 8,084.70 1,175.00 1,346.80
2015-06-30 8,052.40 982.00 1,200.10
2015-03-31 8,169.80 889.00 1,427.20
2014-12-31 7,973.40 858.00 1,322.10
2014-09-30 7,776.00 811.10 1,094.30
2014-06-30 7,553.70 862.40 1,139.90
2014-03-31 7,736.10 892.70 1,300.20
2013-12-31 7,424.60 680.60 1,022.90
2013-09-30 7,371.20 736.80 766.20
2013-06-30 7,445.00 729.90 868.60
2013-03-31 7,481.80 736.80 1,047.60
2012-12-31 7,224.20 763.70 1,009.10
2012-09-30 7,152.10 743.00 943.40
2012-06-30 7,218.50 909.50 828.80
2012-03-31 7,205.20 727.60 858.60
  • Asseco Poland's level of debt (23.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (10% vs 23.6% today).
  • Debt is well covered by operating cash flow (51.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.5x coverage).
X
Financial health checks
We assess Asseco Poland'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. Asseco Poland has a total score of 5/6, 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.

ASOZ.F Dividends

 What is Asseco Poland'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
5.66%
Current annual income from Asseco Poland dividends. Estimated to be 4.99% next year.
If you bought $2,000 of Asseco Poland shares you are expected to receive $113 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?
  • Asseco Poland's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Asseco Poland's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
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
OTCPK:ASOZ.F 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 6 Analyst Estimates (S&P Global) See Below
United States of America Software Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:ASOZ.F Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 3.00 1.00
2020-12-31 2.55 5.00
2019-12-31 2.69 5.00
2018-12-31 2.81 5.00
OTCPK:ASOZ.F Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-03-19 3.010 6.530
2017-04-25 3.010 6.450
2016-03-16 3.010 5.483
2015-05-13 2.900 5.119
2015-03-13 2.900 4.882
2014-11-14 2.600 4.844
2014-08-28 2.600 5.683
2014-05-15 2.600 6.268
2014-03-24 2.600 5.746
2013-08-27 2.410 5.057
2013-05-13 2.410 5.457
2013-03-18 2.410 5.678
2012-05-11 2.190 4.901
2012-03-16 2.190 4.521
2011-05-13 1.800 3.868
2011-03-18 1.800 3.399
2011-01-17 1.800 3.483
2010-05-17 1.470 2.684
2010-03-19 1.470 2.596
2009-05-13 1.030 1.761
2009-04-24 1.030 1.971
2009-03-23 1.030 2.196

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Asseco Poland's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Asseco Poland's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Asseco Poland afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Asseco Poland has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ASOZ.F Management

 What is the CEO of Asseco Poland'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
Adam Góral
COMPENSATION PLN0
TENURE AS CEO 12.2 years
CEO Bio

Mr. Adam Tadeusz Góral has been the Chief Executive Officer and President of the Management Board at Asseco Poland Spólka Akcyjna (Alternatively, COMP Rzeszów S.A.) since January 2007 and has been its Member of the Management Board since 2004 and serves as its President. Mr. Góral served as the President and Member of the Executive Board at ABG S.A. He served as the President of Prokom Software SA since October 2007. He co-founded Asseco Poland SA (prior to acquisition by Softbank SA ) in 1991 and served as its President, Chief Executive Officer and General Director and was responsible for the strategy and development of the Asseco capital group. He co-founded Jazcoop Sp. z o.o. company in 1988. He served as an Assistant at branch of Maria-Skodowska University from 1979 to 1990 and also served as its Senior Assistant from 1981 to 1984 and Research Assistant from 1984 to 1990. He served as an Office Director of COMP Ltd. Sp. z o.o. from 1993 to 1995. He has been the Chairman of the Supervisory Board at Asseco Central Europe, a.s. since 2004. He serves as the Chairman of the Supervisory Board of Asseco Systems SA, Asseco Romania, ADH-Soft and Asseco Germany. He served as Chairman of the Supervisory Board at Asseco South Eastern Europe S.A. until May 24, 2017 and has been its Vice Chairman of the Supervisory Board since May 24, 2017. He serves as the Vice Chairman of Supervisory Board at Asseco Business Solutions SA. Mr. Góral served as the President of the Supervisory Board of ABAS SA from 1999 to 2005. He served as the President of the Supervisory Board at Studio Komputerowe GALKOM Sp. z o.o. from 2000 to 2004. He served as the Chairman of Supervisory Board at Asseco Business Solutions SA until 30, 2012. He served as the President of the Supervisory Board, COMP Soft Sp. z o.o. from 2002 to 2006. He served as the President at the Supervisory Board of Epsilio S.A. since 2005. He serves as a Vice-President of the Supervisory Board of the International School of Finance and Banking in Sandomierz. He serves as the Deputy Chairman of Asseco DACH SA. He serves as a Member of Supervisory Board at Asseco South Eastern Europe SA and Vistula&Wólczanka. He served as a Member of the Board at Jazcoop Sp. z o.o. from 1991 to 1993. From 1991 to 1993, he was involved in the Polish-American Entrepreneurship Institute Building Project in Poland. Mr. Góral is a Graduate of the Cracow University of Economics (Economic Cybernetics and Information Technology) and also holds a Doctor in Economic Science.

CEO Compensation
  • Adam's compensation has been consistent with company performance over the past year.
  • Adam's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Asseco Poland management team in years:

9.4
Average Tenure
48
Average Age
  • The average tenure for the Asseco Poland management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Adam Góral

TITLE
President of Management Board
TENURE
12.2 yrs

Rafal Kozlowski

TITLE
Vice President of Management Board
AGE
44
TENURE
6.8 yrs

Marek Panek

TITLE
Vice President of the Management Board
AGE
49
TENURE
11.8 yrs

Zbigniew Pomianek

TITLE
Vice President of the Management Board
TENURE
11.8 yrs

Tadeusz Dyrga

TITLE
Vice President of the Management Board
TENURE
10.9 yrs

Pawel Piwowar

TITLE
Vice President of the Management Board
AGE
55
TENURE
9.4 yrs

Andrzej Dopierala

TITLE
Vice President of the Management Board

Krzysztof Groyecki

TITLE
Vice President of the Management Board
TENURE
2.8 yrs

Gabriela Zukowicz

TITLE
Vice President of Management Board
TENURE
1.4 yrs

Artur Wiza

TITLE
Vice President of Management Board
AGE
47
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Asseco Poland board of directors in years:

9.3
Average Tenure
53
Average Age
  • The tenure for the Asseco Poland board of directors is about average.
Board of Directors

Jacek Duch

TITLE
Chairman of the Supervisory Board
AGE
71
TENURE
11.4 yrs

Adam Noga

TITLE
Vice President of the Supervisory Board
AGE
63
TENURE
12.2 yrs

Guy Bernstein

TITLE
Chief Executive Officer of Formula & Magic and Chairman of Sapiens & Matrix
AGE
50

Dariusz Brzeski

TITLE
Member of the Supervisory Board
TENURE
10.1 yrs

Artur Kucharski

TITLE
Member of Supervisory Board
AGE
50
TENURE
8.6 yrs

Piotr Augustyniak

TITLE
Member of the Supervisory Board
AGE
53
TENURE
6.4 yrs

Izabela Albrycht

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

ASOZ.F News

Simply Wall St News

ASOZ.F Company Info

Description

Asseco Poland S.A. develops and produces software products. It operates in Polish Market, Central European Market, South Eastern European Market, Israeli Market, Western European Market, and Eastern European Market segments. The company offers IT solutions for banking, healthcare, insurance, telecommunications, and utilities sector; and public institutions. It also provides enterprise resource planning software for small, medium, and large enterprises; end-to-end infrastructure services, including computing and communication solutions; and solutions for consumer goods enterprises employing mobile sales force. The company was formerly known as Softbank S.A. and changed its name to Asseco Poland S.A. in January 2007. Asseco Poland S.A. was founded in 1989 and is based in Rzeszów, Poland.

Details
Name: Asseco Poland S.A.
ASOZ.F
Exchange: OTCPK
Founded: 1989
PLN1,170,071,577
83,000,303
Website: http://www.pl.asseco.com
Address: Asseco Poland S.A.
14 Olchowa Street,
Rzeszów,
35-322,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ACP Ordinary Bearer Shares Warsaw Stock Exchange PL PLN 05. Jun 1998
OTCPK ASOZ.F Ordinary Bearer Shares Pink Sheets LLC US USD 05. Jun 1998
DB SFB1 Ordinary Bearer Shares Deutsche Boerse AG DE EUR 05. Jun 1998
LSE 0LQG Ordinary Bearer Shares London Stock Exchange GB PLN 05. Jun 1998
OTCPK ASOZ.Y ADR Pink Sheets LLC US USD 02. Mar 2010
Number of employees
Current staff
Staff numbers
24,234
Asseco Poland employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 00:23
End of day share price update: 2019/01/25 00:00
Last estimates confirmation: 2019/03/08
Last earnings filing: 2018/11/20
Last earnings reported: 2018/09/30
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.