Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Work Service

WSE:WSE
Snowflake Description

Undervalued with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WSE
WSE
PLN27M
Market Cap
  1. Home
  2. PL
  3. Commercial Services
Company description

Work Service S.A. provides employment services in Central and Eastern Europe. The last earnings update was 127 days ago. More info.


Add to Portfolio Compare Print
  • Work Service has significant price volatility in the past 3 months.
WSE Share Price and Events
7 Day Returns
2.5%
WSE:WSE
-14.9%
PL Professional Services
-0.4%
PL Market
1 Year Returns
-79%
WSE:WSE
-35.4%
PL Professional Services
-34.4%
PL Market
WSE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Work Service (WSE) 2.5% -25.2% -21% -79% -95.7% -98%
PL Professional Services -14.9% -33.6% -33.3% -35.4% -41.1% 73.5%
PL Market -0.4% -20.3% -28.7% -34.4% -38.3% -39.1%
1 Year Return vs Industry and Market
  • WSE underperformed the Professional Services industry which returned -35.4% over the past year.
  • WSE underperformed the Market in Poland which returned -34.4% over the past year.
Price Volatility
WSE
Industry
5yr Volatility vs Market

WSE Value

 Is Work Service 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 Work Service 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 Work Service.

WSE:WSE 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 15%
Perpetual Growth Rate 10-Year PL Government Bond Rate 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 WSE:WSE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.5%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.777 (1 + (1- 19%) (732.5%))
3.939
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)
= 1.99% + (2 * 6.51%)
15.01%

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

The calculations below outline how an intrinsic value for Work Service 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.

WSE:WSE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 15.01%)
2020 20.03 Est @ 33.1% 17.42
2021 24.79 Est @ 23.77% 18.74
2022 29.07 Est @ 17.23% 19.11
2023 32.75 Est @ 12.66% 18.72
2024 35.84 Est @ 9.46% 17.81
2025 38.43 Est @ 7.22% 16.61
2026 40.60 Est @ 5.65% 15.26
2027 42.45 Est @ 4.55% 13.87
2028 44.06 Est @ 3.78% 12.51
2029 45.49 Est @ 3.25% 11.23
Present value of next 10 years cash flows PLN161.00
WSE:WSE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN45.49 × (1 + 1.99%) ÷ (15.01% – 1.99%)
PLN356.32
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN356.32 ÷ (1 + 15.01%)10
PLN88.00
WSE:WSE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN161.00 + PLN88.00
PLN249.00
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN249.00 / 65.59
PLN3.8
WSE:WSE Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN3.80
Current discount Discount to share price of PLN0.41
= -1 x (PLN0.41 - PLN3.80) / PLN3.80
89.2%

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

Current Discount
Amount off the current price Work Service is available for.
Intrinsic value
>50%
Share price is PLN0.41 vs Future cash flow value of PLN3.8
Current Discount Checks
For Work Service to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Work Service's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Work Service'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 Work Service's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Work Service's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:WSE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in PLN PLN1.01
WSE:WSE Share Price ** WSE (2020-04-03) in PLN PLN0.41
Poland Professional Services Industry PE Ratio Median Figure of 10 Publicly-Listed Professional Services Companies 12.79x
Poland Market PE Ratio Median Figure of 421 Publicly-Listed Companies 9.17x

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

** Primary Listing of Work Service.

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

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

= 0.41 ÷ 1.01

0.4x

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

  • Work Service is good value based on earnings compared to the PL Professional Services industry average.
  • Work Service is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Work Service's expected growth come at a high price?
Raw Data
WSE:WSE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0.4x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Professional Services Industry PEG Ratio Median Figure of 54 Publicly-Listed Professional Services Companies 0.93x
Poland Market PEG Ratio Median Figure of 102 Publicly-Listed Companies 0.73x

*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 Work Service, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Work Service's assets?
Raw Data
WSE:WSE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in PLN PLN2.07
WSE:WSE Share Price * WSE (2020-04-03) in PLN PLN0.41
Poland Professional Services Industry PB Ratio Median Figure of 17 Publicly-Listed Professional Services Companies 1.42x
Poland Market PB Ratio Median Figure of 638 Publicly-Listed Companies 0.83x
WSE:WSE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.41 ÷ 2.07

0.2x

* Primary Listing of Work Service.

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

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

WSE Future Performance

 How is Work Service 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 Work Service 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
6.9%
Expected Professional Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Work Service expected to grow at an attractive rate?
  • Unable to compare Work Service's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Work Service's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare Work Service's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:WSE Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
Europe Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
Poland Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Poland Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*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:WSE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:WSE Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
WSE:WSE Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-09-30 1,722 20 66
2019-06-30 1,844 13 60
2019-03-31 1,995 14 26
2018-12-31 2,088 51 5
2018-09-30 1,582 14 -92
2018-06-30 1,789 -12 -83
2018-03-31 2,157 -26 -42
2017-12-31 2,138 -20 -43
2017-09-30 1,857 -2 -62
2017-06-30 1,881 41 -54
2017-03-31 1,848 84 -48
2016-12-31 1,942 84 -37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Work Service is high growth as no earnings estimate data is available.
  • Unable to determine if Work Service 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
WSE:WSE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Work Service Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:WSE Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
WSE:WSE Past Financials Data
Date (Data in PLN Millions) EPS *
2019-09-30 1.01
2019-06-30 0.92
2019-03-31 0.40
2018-12-31 0.08
2018-09-30 -1.42
2018-06-30 -1.27
2018-03-31 -0.64
2017-12-31 -0.67
2017-09-30 -0.95
2017-06-30 -0.84
2017-03-31 -0.74
2016-12-31 -0.57

*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 Work Service will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Work Service is trading at Work Service'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. Work Service'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 Commercial Services companies here
  3. Work Service'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 Work Service's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Work Service 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.

WSE Past Performance

  How has Work Service 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 Work Service's growth in the last year to its industry (Professional Services).
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.
  • Work Service's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Work Service has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Work Service has become profitable in the last year making it difficult to compare the PL Professional Services industry average.
Earnings and Revenue History
Work Service'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 Work Service Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:WSE Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,721.80 66.35 188.54
2019-06-30 1,844.11 60.25 207.56
2019-03-31 1,995.18 25.74 237.85
2018-12-31 2,088.26 5.39 258.65
2018-09-30 1,582.33 -92.23 188.26
2018-06-30 1,789.20 -82.73 219.75
2018-03-31 2,156.74 -41.60 248.44
2017-12-31 2,137.86 -43.34 238.49
2017-09-30 1,856.68 -61.82 180.02
2017-06-30 1,880.87 -54.41 171.76
2017-03-31 1,847.84 -48.34 136.48
2016-12-31 1,941.60 -37.42 156.04
2016-09-30 2,253.29 2.65 200.12
2016-06-30 2,246.15 9.68 180.60
2016-03-31 2,254.16 19.35 199.86
2015-12-31 2,136.72 27.62 160.07
2015-09-30 2,041.48 34.46 137.67
2015-06-30 1,981.02 31.60 130.93
2015-03-31 1,868.43 34.73 121.13
2014-12-31 1,739.76 36.25 111.99
2014-09-30 1,493.58 33.72 108.23
2014-06-30 1,244.14 32.89 88.28
2014-03-31 1,075.58 32.22 74.14
2013-12-31 918.39 26.46 63.55
2013-09-30 836.26 23.70 49.37
2013-06-30 784.10 21.27 47.49

*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.
  • Whilst Work Service made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • It is difficult to establish if Work Service has efficiently used its assets last year compared to the PL Professional Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Work Service 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 Work Service'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 Professional Services 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.
Work Service 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.

WSE Health

 How is Work Service'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 Work Service's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Work Service is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Work Service's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Work Service'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 3.7x 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 Work Service Company Filings, last reported 6 months ago.

WSE:WSE Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 165.66 168.29 33.66
2019-06-30 178.65 159.99 32.65
2019-03-31 128.35 197.77 79.86
2018-12-31 90.89 97.31 97.28
2018-09-30 92.73 270.18 55.34
2018-06-30 93.40 272.87 69.45
2018-03-31 154.55 274.56 81.38
2017-12-31 144.97 317.18 81.64
2017-09-30 269.51 279.93 105.04
2017-06-30 265.84 280.29 131.25
2017-03-31 360.22 278.86 144.31
2016-12-31 357.30 333.22 133.85
2016-09-30 368.38 207.57 84.81
2016-06-30 344.05 209.09 80.51
2016-03-31 333.41 218.61 65.87
2015-12-31 329.16 344.24 73.95
2015-09-30 351.06 311.77 63.30
2015-06-30 340.53 266.11 73.92
2015-03-31 335.63 207.11 89.10
2014-12-31 342.78 159.86 97.40
2014-09-30 265.03 262.88 85.83
2014-06-30 256.25 124.04 70.91
2014-03-31 253.19 248.74 53.34
2013-12-31 235.48 110.85 38.36
2013-09-30 227.46 103.93 21.41
2013-06-30 224.64 70.32 24.53
  • Work Service's level of debt (101.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (97.5% vs 101.6% today).
  • Debt is not well covered by operating cash flow (12.1%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Work Service's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Work Service'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. Work Service has a total score of 2/6, 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.

WSE Dividends

 What is Work Service'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 Work Service dividends.
If you bought PLN2,000 of Work Service 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 Work Service's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Work Service'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:WSE 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
Europe Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 3.3%
Poland Market Average Dividend Yield Market Cap Weighted Average of 195 Stocks 5.9%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 3.2%
Poland Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

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

WSE:WSE Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
WSE:WSE Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2015-03-20 0.000 0.000
2014-11-14 0.000 0.000
2014-08-29 0.000 0.000
2014-05-15 0.000 0.000
2014-03-17 0.000 0.000
2014-01-15 0.000 0.000
2013-11-14 0.000 0.000
2013-09-02 0.000 0.000
2012-11-14 0.100 1.329

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

  • Unable to perform a dividend volatility check as Work Service has not reported any payouts.
  • Unable to verify if Work Service's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Work Service's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Work Service 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 Work Service's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Work Service afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Work Service 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.

WSE Management

 What is the CEO of Work Service'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
Iwona Szmitkowska
COMPENSATION PLN0
TENURE AS CEO 1.2 years
CEO Bio

Ms. Iwona Szmitkowska has been President of the Management Board at Work Service Spólka Akcyjna since February 22, 2019 and served as its Vice-President of the Management Board since October 10, 2014 until February 22, 2019 .

CEO Compensation
  • Iwona's compensation has increased in line with Work Service recently becoming profitable.
  • Iwona's remuneration is lower than average for companies of similar size in Poland.
Management Team

Iwona Szmitkowska

TITLE
President of the Management Board
TENURE
1.2 yrs

Tomasz Hanczarek

TITLE
Co-Founder & VP of the Supervisory Board
TENURE
21.3 yrs

Paul Christodoulou

TITLE
Vice President of the Management Board

Jaroslaw Dymitruk

TITLE
Vice President of the Management Board

Krzysztof Inglot

TITLE
Head of Market Development Department
Board of Directors Tenure

Average tenure and age of the Work Service board of directors in years:

4.1
Average Tenure
46
Average Age
  • The tenure for the Work Service board of directors is about average.
Board of Directors

Tomasz Misiak

TITLE
President of the Supervisory Board
AGE
44

Paul Sofianos

TITLE
Chairman of Supervisory Board

Tomasz Hanczarek

TITLE
Co-Founder & VP of the Supervisory Board
TENURE
4.3 yrs

Piotr Kaminski

TITLE
Member of Supervisory Board
TENURE
6.8 yrs

Everett Kamin

TITLE
Member of Supervisory Board

Pierre Francois Mellinger

TITLE
Member of Supervisory Board
AGE
64
TENURE
7.1 yrs

Krzysztof Kaczmarczyk

TITLE
Member of the Supervisory Board
TENURE
3.9 yrs

Robert Lugowski

TITLE
Member of the Supervisory Board
TENURE
3.9 yrs

John Leone

TITLE
Member of the Supervisory Board
AGE
46
TENURE
3.3 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 (PLN) Value (PLN)
X
Management checks
We assess Work Service'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. Work Service 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.

WSE News

Simply Wall St News

If You Had Bought Work Service (WSE:WSE) Stock Five Years Ago, You'd Be Sitting On A 87% Loss, Today

(WSE:WSE) during the five years that saw its share price drop a whopping 87%. … 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. … During five years of share price growth, Work Service moved from a loss to profitability.

Simply Wall St -

Is Work Service SA's (WSE:WSE) Balance Sheet A Threat To Its Future?

While small-cap stocks, such as Work Service SA (WSE:WSE) with its market cap of zł100.25m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Should You Be Concerned About Work Service SA.'s (WSE:WSE) Investors?

View our latest analysis for Work Service WSE:WSE Ownership_summary May 24th 18 Institutional Ownership WSE's 19.40% institutional ownership seems enough to cause large share price movements in the case of significant share sell-off or acquisitions by institutions, particularly when there is a low level of public shares available on the market to trade. … An ownership of this size indicates a strong financial backing and has the potential to influence WSE's business strategy. … Thus, investors should dig deeper into WSE's business relations with these companies and how it can affect shareholder returns in the long-term.Next Steps: WSE's considerably high level of institutional ownership calls for further analysis into its margin of safety.

Simply Wall St -

Are Work Service SA.'s (WSE:WSE) Interest Costs Too High?

WSE's debt level has been constant at around ZŁ320.81M over the previous year made up of current and long term debt. … At this constant level of debt, WSE currently has ZŁ81.64M remaining in cash and short-term investments for investing into the business. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: WSE’s high debt level indicates room for improvement.

Simply Wall St -

Does Work Service SA.'s (WSE:WSE) PE Ratio Warrant A Sell?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for WSE Price per share = PLN3.71 Earnings per share = PLN0.039 ∴ Price-Earnings Ratio = PLN3.71 ÷ PLN0.039 = 94.4x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … At 94.4x, WSE’s P/E is higher than its industry peers (14.9x).

Simply Wall St -

Work Service SA.'s (WSE:WSE) Earnings Dropped -3.52%, Did Its Industry Show Weakness Too?

In this commentary, I will examine Work Service SA.'s (WSE:WSE) latest earnings update (30 September 2017) and compare these figures against its performance over the past couple of years, as well as how the rest of the professional services industry performed. … For Work Service, its most recent trailing-twelve-month earnings is ZŁ2.56M, which, against the prior year's figure, has plunged by -3.52%. … Since these values are fairly short-term thinking, I’ve estimated an annualized five-year value for Work Service's earnings, which stands at ZŁ21.06M This doesn’t seem to paint a better picture, since earnings seem to have gradually been deteriorating over the longer term.

Simply Wall St -

WSE Company Info

Description

Work Service S.A. provides employment services in Central and Eastern Europe. It offers services, including temporary employment, HR consulting, recruitment, competency assessment, outplacement, personnel and payroll, professional, and outsourcing services. The company also provides jobs for students, graduates, retirees, and physically challenged; international jobs; career transition; temporary worker’s guide; and loyalty programs, as well as database of workers, disabled workers, and employer support services. The company was founded in 1999 and is headquartered in Wroclaw, Poland.

Details
Name: Work Service S.A.
WSE
Exchange: WSE
Founded: 1999
PLN27,285,705
65,590,638
Website: http://www.workservice.pl
Address: Work Service S.A.
Sky Tower,
ul. Gwiazdzista 66,
Wroclaw,
53-413,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE WSE Common Bearer Shares Warsaw Stock Exchange PL PLN 24. May 2012
LSE WSE Common Bearer Shares London Stock Exchange GB GBP 24. May 2012
Number of employees
Current staff
Staff numbers
225
Work Service employees.
Industry
Human Resource and Employment Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 01:25
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2018/04/27
Last earnings filing: 2019/11/29
Last earnings reported: 2019/09/30
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.