OTCPK:ASOZ.F

Stock Analysis Report

Executive Summary

Asseco Poland S.A. develops and produces software products.

Snowflake

Fundamentals

6 star dividend payer and undervalued.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

ASOZ.F

-0.9%

US Software

1.8%

US Market


1 Year Return

n/a

ASOZ.F

22.0%

US Software

7.3%

US Market


Shareholder returns

ASOZ.FIndustryMarket
7 Day0%-0.9%1.8%
30 Day0%-0.7%-0.7%
90 Dayn/a-4.2%0.06%
1 Yearn/a23.7%22.0%9.7%7.3%
3 Year-15.7%-15.7%119.6%111.0%46.3%36.9%
5 Year-11.0%-11.0%171.5%151.9%64.5%46.5%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

44.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: ASOZ.F ($12.68) is trading below our estimate of fair value ($22.81)

Significantly Undervalued: ASOZ.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ASOZ.F is good value based on its PE Ratio (13.5x) compared to the Software industry average (47.3x).

PE vs Market: ASOZ.F is good value based on its PE Ratio (13.5x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: ASOZ.F is poor value based on its PEG Ratio (31.7x)


Price to Book Ratio

PB vs Industry: ASOZ.F is good value based on its PB Ratio (0.8x) compared to the US Software industry average (5.5x).


Next Steps

Future Growth

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

0.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASOZ.F's forecast earnings growth (0.4% per year) is below the savings rate (2.7%).

Earnings vs Market: ASOZ.F's earnings (0.4% per year) are forecast to grow slower than the US market (14.6% per year).

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

Revenue vs Market: ASOZ.F's revenue (4.4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: ASOZ.F's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Information is not available.


Next Steps

Past Performance

How has Asseco Poland performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ASOZ.F's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: ASOZ.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ASOZ.F had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the Software industry average (19.1%).


Return on Equity

High ROE: ASOZ.F's Return on Equity (7.7%) is considered low.


Return on Assets

ROA vs Industry: ASOZ.F's Return on Assets is below or equal to the Software industry average last year.


Return on Capital Employed

ROCE Improving: ASOZ.F has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Asseco Poland's financial position?


Financial Position Analysis

Short Term Liabilities: ASOZ.F's short term assets (PLN5.0B) exceeds its short term liabilities (PLN3.1B)

Long Term Liabilities: ASOZ.F's short term assets (5.0B) exceeds its long term liabilities (1.9B)


Debt to Equity History and Analysis

Debt Level: ASOZ.F's debt to equity ratio (22.5%) is considered satisfactory

Reducing Debt: ASOZ.F's debt to equity ratio has increased from 9.2% to 22.5% over the past 5 years.

Debt Coverage: ASOZ.F's debt is well covered by operating cash flow (58%).

Interest Coverage: ASOZ.F's interest payments on its debt are well covered by EBIT (15.2x coverage).


Balance Sheet

Information is not available.

Information is not available.


Next Steps

Dividend

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

5.55%

Current Dividend Yield


Dividend Yield vs Market

company5.6%marketbottom25%1.5%markettop25%3.7%industryaverage1.5%forecastin3Years5.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ASOZ.F's dividend (5.55%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: ASOZ.F's dividend (5.55%) is in the top 25% of dividend payers in the US market (3.72%)

Stable Dividend: ASOZ.F's dividends per share have been stable in the past 10 years.

Growing Dividend: ASOZ.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (75%), ASOZ.F's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASOZ.F's dividends in 3 years are forecast to be covered by earnings (68.2% payout ratio).


Next Steps

Management

What is the CEO of Asseco Poland's salary, the management and board of directors tenure and is there insider trading?

9.5yrs

Average management tenure


CEO

Adam Góral 0

12.3yrs

Tenure

0

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 Memb ...


CEO Compensation Analysis

Information is not available.

Compensation vs Earnings: Adam's compensation has been consistent with company performance over the past year.


Management Age and Tenure

9.5yrs

Average Tenure

48yo

Average Age

Experienced Management: ASOZ.F's management team is seasoned and experienced (9.5 years average tenure).


Board Age and Tenure

9.4yrs

Average Tenure

53yo

Average Age

Experienced Board: ASOZ.F's board of directors are considered experienced (9.4 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Tadeusz Dyrga

    Vice President of the Management Board

    • Tenure: 11yrs
  • Adam Góral

    President of Management Board

    • Tenure: 12.3yrs
  • Zbigniew Pomianek

    Vice President of the Management Board

    • Tenure: 11.8yrs
  • Marek Panek (49yo)

    Vice President of the Management Board

    • Tenure: 11.8yrs
  • Rafal Kozlowski (44yo)

    Vice President of Management Board

    • Tenure: 6.8yrs
  • Artur Wiza (47yo)

    Vice President of Management Board

    • Tenure: 1.1yrs
  • Pawel Piwowar (55yo)

    Vice President of the Management Board

    • Tenure: 9.5yrs
  • Gabriela Zukowicz

    Vice President of Management Board

    • Tenure: 1.5yrs
  • Andrzej Dopierala

    Vice President of the Management Board

    • Tenure: 0yrs
  • Krzysztof Groyecki

    Vice President of the Management Board

    • Tenure: 2.8yrs

Board Members

  • Piotr Augustyniak (53yo)

    Member of the Supervisory Board

    • Tenure: 6.5yrs
  • Guy Bernstein (50yo)

    Chief Executive Officer of Formula & Magic and Chairman of Sapiens & Matrix

    • Tenure: 0yrs
  • Jacek Duch (71yo)

    Chairman of the Supervisory Board

    • Tenure: 11.5yrs
  • Adam Noga (63yo)

    Vice President of the Supervisory Board

    • Tenure: 12.3yrs
  • Dariusz Brzeski

    Member of the Supervisory Board

    • Tenure: 10.2yrs
  • Artur Kucharski (50yo)

    Member of Supervisory Board

    • Tenure: 8.7yrs
  • Izabela Albrycht

    Member of the Supervisory Board

    • Tenure: 2.3yrs

Company Information

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


Key Information

  • Name: Asseco Poland S.A.
  • Ticker: ASOZ.F
  • Exchange: OTCPK
  • Founded: 1989
  • Industry: Systems Software
  • Sector: Software
  • Market Cap: zł4.499b
  • Listing Market Cap: zł1.176b
  • Shares outstanding: 83.00m
  • Website: https://asseco.com

Number of Employees


Location

  • Asseco Poland S.A.
  • 14 Olchowa Street
  • Rzeszów
  • 35-322
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACPWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNJun 1998
0LQGLSE (London Stock Exchange)YesOrdinary Bearer SharesGBPLNJun 1998
ASOZ.FOTCPK (Pink Sheets LLC)YesOrdinary Bearer SharesUSUSDJun 1998
SFB1DB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURJun 1998
ASOZ.YOTCPK (Pink Sheets LLC)ADRUSUSDMar 2010

Biography

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 Europe ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/04/24 00:20
End of Day Share Price2019/01/25 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.