Loading...

We've got a brand new version of Simply Wall St! Try it out

Inapa - Investimentos Participações e Gestão

DB:IPB
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPB
DB
€26M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Inapa - Investimentos, Participações e Gestão, S.A., through its subsidiaries, distributes and sells paper products in Portugal and internationally. The last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
IPB Share Price and Events
7 Day Returns
-0.4%
DB:IPB
7%
DE Trade Distributors
0.8%
DE Market
1 Year Returns
-47.3%
DB:IPB
6.9%
DE Trade Distributors
9%
DE Market
IPB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Inapa - Investimentos Participações e Gestão (IPB) -0.4% 20.4% 25.8% -47.3% - -
DE Trade Distributors 7% 8.4% 16.8% 6.9% -1.2% 8.4%
DE Market 0.8% 6.3% 14.4% 9% 14.5% 21.8%
1 Year Return vs Industry and Market
  • IPB underperformed the Trade Distributors industry which returned 6.9% over the past year.
  • IPB underperformed the Market in Germany which returned 9% over the past year.
Price Volatility
IPB
Industry
5yr Volatility vs Market

IPB Value

 Is Inapa - Investimentos Participações e Gestão 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 Inapa - Investimentos Participações e Gestão 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 Inapa - Investimentos Participações e Gestão.

DB:IPB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 18.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:IPB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.951 (1 + (1- 21%) (1265.02%))
7.333
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 9.02%)
18.27%

Discounted Cash Flow Calculation for DB:IPB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Inapa - Investimentos Participações e Gestão 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:IPB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 18.27%)
2020 14.68 Est @ -28.08% 12.41
2021 11.80 Est @ -19.59% 8.44
2022 10.19 Est @ -13.64% 6.16
2023 9.23 Est @ -9.48% 4.72
2024 8.62 Est @ -6.57% 3.72
2025 8.23 Est @ -4.53% 3.01
2026 7.97 Est @ -3.1% 2.46
2027 7.81 Est @ -2.1% 2.04
2028 7.70 Est @ -1.4% 1.70
2029 7.63 Est @ -0.91% 1.42
Present value of next 10 years cash flows €46.00
DB:IPB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €7.63 × (1 + 0.23%) ÷ (18.27% – 0.23%)
€42.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €42.37 ÷ (1 + 18.27%)10
€7.91
DB:IPB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €46.00 + €7.91
€53.91
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €53.91 / 526.23
€0.1
DB:IPB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:IPB represents 0.91057x of ENXTLS:INA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.91057x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 0.10 x 0.91057
€0.09
Value per share (EUR) From above. €0.09
Current discount Discount to share price of €0.04
= -1 x (€0.04 - €0.09) / €0.09
52%

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

Current Discount
Amount off the current price Inapa - Investimentos Participações e Gestão is available for.
Intrinsic value
>50%
Share price is €0.0448 vs Future cash flow value of €0.09329
Current Discount Checks
For Inapa - Investimentos Participações e Gestão to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Inapa - Investimentos Participações e Gestão's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Inapa - Investimentos Participações e Gestão'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 Inapa - Investimentos Participações e Gestão's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Inapa - Investimentos Participações e Gestão's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:IPB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €-0.01
ENXTLS:INA Share Price ** ENXTLS (2019-11-13) in EUR €0.05
Germany Trade Distributors Industry PE Ratio Median Figure of 7 Publicly-Listed Trade Distributors Companies 16.14x
Germany Market PE Ratio Median Figure of 403 Publicly-Listed Companies 19.89x

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

** Primary Listing of Inapa - Investimentos Participações e Gestão.

DB:IPB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTLS:INA Share Price ÷ EPS (both in EUR)

= 0.05 ÷ -0.01

-6.19x

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

  • Inapa - Investimentos Participações e Gestão is loss making, we can't compare its value to the DE Trade Distributors industry average.
  • Inapa - Investimentos Participações e Gestão is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Inapa - Investimentos Participações e Gestão's expected growth come at a high price?
Raw Data
DB:IPB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Trade Distributors Industry PEG Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 1.82x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Inapa - Investimentos Participações e Gestão, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Inapa - Investimentos Participações e Gestão's assets?
Raw Data
DB:IPB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €1.19
ENXTLS:INA Share Price * ENXTLS (2019-11-13) in EUR €0.05
Germany Trade Distributors Industry PB Ratio Median Figure of 10 Publicly-Listed Trade Distributors Companies 1.19x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.83x
DB:IPB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTLS:INA Share Price ÷ Book Value per Share (both in EUR)

= 0.05 ÷ 1.19

0.04x

* Primary Listing of Inapa - Investimentos Participações e Gestão.

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

  • Inapa - Investimentos Participações e Gestão is good value based on assets compared to the DE Trade Distributors industry average.
X
Value checks
We assess Inapa - Investimentos Participações e Gestão'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Inapa - Investimentos Participações e Gestão 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.

IPB Future Performance

 How is Inapa - Investimentos Participações e Gestão expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Inapa - Investimentos Participações e Gestão has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
13.6%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Inapa - Investimentos Participações e Gestão expected to grow at an attractive rate?
  • Unable to compare Inapa - Investimentos Participações e Gestão's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Inapa - Investimentos Participações e Gestão's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Inapa - Investimentos Participações e Gestão's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:IPB Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 13.6%
Europe Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:IPB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:IPB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 867 24 -1
2019-03-31 874 26 -1
2018-12-31 881 27 -1
2018-09-30 882 2 -1
2018-06-30 883 -23 0
2018-03-31 893 -9 0
2017-12-31 904 5 0
2017-09-30 899 27 1
2017-06-30 895 49 2
2017-03-31 873 57 1
2016-12-31 859 55 1
2016-09-30 874 67 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Inapa - Investimentos Participações e Gestão is high growth as no earnings estimate data is available.
  • Unable to determine if Inapa - Investimentos Participações e Gestão is high growth as no revenue estimate data is available.
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
DB:IPB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Inapa - Investimentos Participações e Gestão Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IPB Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 -0.01
2019-03-31 -0.01
2018-12-31 -0.01
2018-09-30 -0.01
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.01
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01

*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.
  • Unable to establish if Inapa - Investimentos Participações e Gestão will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Inapa - Investimentos Participações e Gestão is trading at Inapa - Investimentos Participações e Gestão'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Inapa - Investimentos Participações e Gestão's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Inapa - Investimentos Participações e Gestão's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Inapa - Investimentos Participações e Gestão'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 Germany 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.
Inapa - Investimentos Participações e Gestão 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.

IPB Past Performance

  How has Inapa - Investimentos Participações e Gestão 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 Inapa - Investimentos Participações e Gestão's growth in the last year to its industry (Trade Distributors).
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.
  • Inapa - Investimentos Participações e Gestão does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Inapa - Investimentos Participações e Gestão's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Inapa - Investimentos Participações e Gestão's 1-year growth to the DE Trade Distributors industry average as it is not currently profitable.
Earnings and Revenue History
Inapa - Investimentos Participações e Gestão'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 Inapa - Investimentos Participações e Gestão Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:IPB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 866.87 -1.19 76.94
2019-03-31 873.85 -1.19 77.16
2018-12-31 880.83 -1.19 77.37
2018-09-30 881.87 -0.79 77.56
2018-06-30 882.90 -0.39 77.76
2018-03-31 893.29 -0.16 78.30
2017-12-31 903.68 0.07 78.85
2017-09-30 899.16 0.89 79.94
2017-06-30 894.64 1.70 81.04
2017-03-31 872.75 1.29 80.09
2016-12-31 858.73 1.45 79.54
2016-09-30 874.37 1.63 77.28
2016-06-30 872.50 -0.82 75.62
2016-03-31 879.32 -1.30 76.95
2015-12-31 896.48 -0.13 77.37
2015-09-30 897.57 -1.00 79.29
2015-06-30 903.38 0.11 79.37
2015-03-31 905.99 0.80 79.21
2014-12-31 920.10 0.69 79.48
2014-09-30 932.60 0.87 79.25
2014-06-30 930.39 1.26 78.08
2014-03-31 923.56 0.54 77.33
2013-12-31 911.79 0.24 76.90
2013-09-30 912.97 0.65 75.50
2013-06-30 921.83 -1.74 76.49
2013-03-31 938.58 -1.78 77.28
2012-12-31 952.52 -1.98 78.14

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Inapa - Investimentos Participações e Gestão has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Inapa - Investimentos Participações e Gestão used its assets less efficiently than the DE Trade Distributors industry average last year based on Return on Assets.
  • It is difficult to establish if Inapa - Investimentos Participações e Gestão improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Inapa - Investimentos Participações e Gestão'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 Trade Distributors 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.
Inapa - Investimentos Participações e Gestão 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.

IPB Health

 How is Inapa - Investimentos Participações e Gestão'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 Inapa - Investimentos Participações e Gestão's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Inapa - Investimentos Participações e Gestão is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Inapa - Investimentos Participações e Gestão's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Inapa - Investimentos Participações e Gestão'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 0.9x 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 Inapa - Investimentos Participações e Gestão Company Filings, last reported 4 months ago.

DB:IPB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 178.01 284.64 21.18
2019-03-31 178.01 284.64 21.18
2018-12-31 179.79 275.18 17.94
2018-09-30 179.79 275.18 17.94
2018-06-30 184.05 292.28 14.49
2018-03-31 184.05 292.28 14.49
2017-12-31 185.30 299.39 19.30
2017-09-30 185.30 299.39 19.30
2017-06-30 186.96 298.79 19.54
2017-03-31 186.96 298.79 19.54
2016-12-31 187.20 298.22 22.26
2016-09-30 187.20 298.22 22.26
2016-06-30 190.03 307.21 17.59
2016-03-31 191.88 319.36 17.72
2015-12-31 190.65 327.23 25.51
2015-09-30 190.05 324.53 19.90
2015-06-30 193.59 322.66 16.65
2015-03-31 194.77 320.33 19.11
2014-12-31 191.45 339.60 31.83
2014-09-30 194.18 324.18 10.01
2014-06-30 194.85 342.61 17.67
2014-03-31 195.21 346.63 13.90
2013-12-31 193.86 358.43 24.84
2013-09-30 196.76 331.51 12.85
2013-06-30 196.86 335.30 11.57
2013-03-31 198.31 333.73 11.95
2012-12-31 196.37 358.05 20.61
  • Inapa - Investimentos Participações e Gestão's level of debt (159.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (175.7% vs 159.9% 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.

  • Whilst loss making Inapa - Investimentos Participações e Gestão has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Inapa - Investimentos Participações e Gestão has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 68.8% per year.
X
Financial health checks
We assess Inapa - Investimentos Participações e Gestão'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. Inapa - Investimentos Participações e Gestão has a total score of 4/6, 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.

IPB Dividends

 What is Inapa - Investimentos Participações e Gestão'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 Inapa - Investimentos Participações e Gestão dividends.
If you bought €2,000 of Inapa - Investimentos Participações e Gestão shares you are expected to receive €0 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 Inapa - Investimentos Participações e Gestão's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Inapa - Investimentos Participações e Gestão'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
DB:IPB 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 0 Analyst Estimates (S&P Global) See Below
Germany Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany 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.

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

  • Unable to perform a dividend volatility check as Inapa - Investimentos Participações e Gestão has not reported any payouts.
  • Unable to verify if Inapa - Investimentos Participações e Gestão's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Inapa - Investimentos Participações e Gestão's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Inapa - Investimentos Participações e Gestão has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Inapa - Investimentos Participações e Gestão'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 Inapa - Investimentos Participações e Gestão afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Inapa - Investimentos Participações e Gestão 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.

IPB Management

 What is the CEO of Inapa - Investimentos Participações e Gestão'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
Diogo Francisco Bastos Rezende
COMPENSATION €354,387
AGE 51
CEO Bio

Mr. Diogo Francisco Bastos Mendes Rezende is Chairman At Investimentos Participacoes E Gestao Sa (Inapa) since May 4, 2018 and serves as its Chief Executive Officer. Mr. Rezende served as Vice-Chairman at Investimentos Participacoes E Gestao Sa (Inapa)Since 2015 and has been Its Director Since July 29, 2015. He served As Marketing and Sales Director of Ford Lusitana From 1992 To 1998). He Served As Marketing Professor At Economics School of Nova University From 1996 To 1998. He Served As Ceo of Chrysler Jeep In Portugal From 1998 To 2003. He served As Ceo of Ford Lusitana From 2004 To 2014. He serves as a Director At Inapa Portugal Distribuição De Papel Sa, Inapa Deutschland Gmbh, Inapa Deutschland Gmbh, Papier Union, Gmbh, Inapa France, Sas, Inapa España Distribución De Papel Sa, Inapa Suisse Sa, Inapa Belgium Sa, Inapa Luxemburg Sa, Inapa Packaging Sas, Inapa Merchants Holding Ltd, Europackaging – Sgps, Lda, Inapa Embalagem, Lda, Da Hora – Artigos De Embalagem, Lda. He holds Degree In Economics By Nova University of Lisbon and MBA From Insead.

CEO Compensation
  • Diogo Francisco Bastos's compensation has increased whilst company is loss making.
  • Diogo Francisco Bastos's remuneration is higher than average for companies of similar size in Germany.
Management Team

Diogo Francisco Bastos Rezende

TITLE
Chairman & CEO
COMPENSATION
€354K
AGE
51

António José da Silva Albuquerque

TITLE
Chief Financial Officer
COMPENSATION
€262K
AGE
66

Arndt Jost Klippgen

TITLE
CEO of Germany
COMPENSATION
€11K
AGE
69

Carlos Jorge

TITLE
Chief Information Officer

António José Nogueira Domingues

TITLE
Investor Relations Officer

Ana Callet

TITLE
Head of Internal Audit Department - Inapa Group
TENURE
8.6 yrs

James Sibert

TITLE
Chief Executive Officer of U.K Operations

Casimiro Silva Santos

TITLE
Portugal Chief Executive Officer

Patrice Bourgeois

TITLE
Chief Executive Officer of France

Sofia Barata

TITLE
Secretary
Board of Directors Tenure

Average tenure and age of the Inapa - Investimentos Participações e Gestão board of directors in years:

0.8
Average Tenure
54
Average Age
  • The average tenure for the Inapa - Investimentos Participações e Gestão board of directors is less than 3 years, this suggests a new board.
Board of Directors

João Miguel de Sales Luís

TITLE
Independent Non-Executive Director
COMPENSATION
€17K
AGE
59
TENURE
6.5 yrs

Diogo Francisco Bastos Rezende

TITLE
Chairman & CEO
COMPENSATION
€354K
AGE
51
TENURE
1.5 yrs

Frederico João De Lupi

TITLE
Executive Director
COMPENSATION
€262K
AGE
54
TENURE
4.1 yrs

Inês Patrícia Arede Louro

TITLE
Director
TENURE
0.8 yrs

Emília de Noronha Galvão Frazão

TITLE
Director
TENURE
0.1 yrs

Victor Silva Barros

TITLE
Director
TENURE
0.8 yrs

Patrícia Sousa Caldinha

TITLE
Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Inapa - Investimentos Participações e Gestão'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. Inapa - Investimentos Participações e Gestão 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.

IPB News

Simply Wall St News

IPB Company Info

Description

Inapa - Investimentos, Participações e Gestão, S.A., through its subsidiaries, distributes and sells paper products in Portugal and internationally. It operates through three segments: Paper Supply, Packaging, and Visual Communication. The company offers coated, uncoated, carbonless, self-adhesive, board, envelope, and fine papers; graphics consumables, such as inks, cleaning products, additives, printing blankets, plates and varnishes, and packaging articles; office papers under the Inapa Tecno brand name; and office supplies. It also provides boxes, films, tapes, fillers, bags, labels, fillings, and equipment under the Inapa Packaging brand, as well as personalized packaging solutions; and a range of printing products and services for large format digital printing, including printers, inks/toners, media, software, and technical assistance, as well as offers logistic services. Inapa - Investimentos, Participações e Gestão, S.A. was founded in 1965 and is headquartered in Lisbon, Portugal.

Details
Name: Inapa - Investimentos, Participações e Gestão, S.A.
IPB
Exchange: DB
Founded: 1965
€25,890,294
526,225,508
Website: http://www.inapa.pt
Address: Inapa - Investimentos, Participações e Gestão, S.A.
Rua Braamcamp, 40–9ºD,
Lisbon,
Lisbon, 1250-050,
Portugal
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTLS INA Ordinary Shares Euronext Lisbon PT EUR 14. Jan 1992
DB IPB Ordinary Shares Deutsche Boerse AG DE EUR 14. Jan 1992
BATS-CHIXE INAU Ordinary Shares BATS 'Chi-X Europe' GB EUR 14. Jan 1992
Number of employees
Current staff
Staff numbers
1,336
Inapa - Investimentos Participações e Gestão employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/13 21:33
End of day share price update: 2019/11/13 00:00
Last earnings filing: 2019/09/20
Last earnings reported: 2019/06/30
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.