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Capital Partners

WSE:CPA
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CPA
WSE
PLN20M
Market Cap
  1. Home
  2. PL
  3. Diversified Financials
Company description

Capital Partners S.A. operates as an investment company in Poland. The last earnings update was 42 days ago. More info.


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CPA Share Price and Events
7 Day Returns
-5.5%
WSE:CPA
2%
PL Capital Markets
-2.7%
PL Market
1 Year Returns
-47.8%
WSE:CPA
-4%
PL Capital Markets
-9.3%
PL Market
CPA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Capital Partners (CPA) -5.5% -1.6% 0% -47.8% -54% -50.4%
PL Capital Markets 2% 3% 1.2% -4% -23.9% -37.5%
PL Market -2.7% -5.3% -0.6% -9.3% -1.6% -12.6%
1 Year Return vs Industry and Market
  • CPA underperformed the Capital Markets industry which returned -4% over the past year.
  • CPA underperformed the Market in Poland which returned -9.3% over the past year.
Price Volatility
CPA
Industry
5yr Volatility vs Market

Value

 Is Capital Partners 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 Capital Partners 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 Capital Partners.

WSE:CPA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= PLN4.20 * 4.3%
PLN0.18
Book Value of Equity per Share Median Book Value from the past 5 years. PLN4.20
Discount Rate (Cost of Equity) See below 7.6%
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:CPA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.5%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.763 (1 + (1- 19%) (4.23%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.99% + (0.859 * 6.51%)
7.58%

Discounted Cash Flow Calculation for WSE:CPA using Excess Returns Model Model

The calculations below outline how an intrinsic value for Capital Partners is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

WSE:CPA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.3% – 7.58%) * PLN4.20)
PLN-0.14
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= PLN-0.14 / (7.58% - 1.99%)
PLN-2.45
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= PLN4.20 + PLN-2.45
PLN1.75
WSE:CPA Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN1.75
Current discount Discount to share price of PLN1.20
= -1 x (PLN1.20 - PLN1.75) / PLN1.75
31.4%

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

Current Discount
Amount off the current price Capital Partners is available for.
Intrinsic value
31%
Share price is PLN1.2 vs Future cash flow value of PLN1.75
Current Discount Checks
For Capital Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Capital Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Capital Partners'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 Capital Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Capital Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:CPA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in PLN PLN-0.81
WSE:CPA Share Price ** WSE (2019-12-05) in PLN PLN1.2
Poland Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 14.38x
Poland Market PE Ratio Median Figure of 413 Publicly-Listed Companies 10.86x

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

** Primary Listing of Capital Partners.

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

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

= 1.2 ÷ -0.81

-1.48x

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

  • Capital Partners is loss making, we can't compare its value to the PL Capital Markets industry average.
  • Capital Partners is loss making, we can't compare the value of its earnings to the Poland market.
Price based on expected Growth
Does Capital Partners's expected growth come at a high price?
Raw Data
WSE:CPA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Capital Markets Industry PEG Ratio Median Figure of 58 Publicly-Listed Capital Markets Companies 1.57x
Poland Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 0.93x

*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 Capital Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Capital Partners's assets?
Raw Data
WSE:CPA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in PLN PLN1.91
WSE:CPA Share Price * WSE (2019-12-05) in PLN PLN1.2
Poland Capital Markets Industry PB Ratio Median Figure of 35 Publicly-Listed Capital Markets Companies 1.03x
Poland Market PB Ratio Median Figure of 636 Publicly-Listed Companies 1x
WSE:CPA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.2 ÷ 1.91

0.63x

* Primary Listing of Capital Partners.

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

  • Capital Partners is good value based on assets compared to the PL Capital Markets industry average.
X
Value checks
We assess Capital Partners'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Capital Partners has a total score of 2/6, 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.

Future Performance

 How is Capital Partners 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 Capital Partners 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
15.9%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Capital Partners expected to grow at an attractive rate?
  • Unable to compare Capital Partners's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Capital Partners's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare Capital Partners's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:CPA Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 15.9%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.7%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*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:CPA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:CPA Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-09-30 3 2 -15
2019-06-30 3 2 -15
2019-03-31 3 48 -16
2018-12-31 12 -4 -13
2018-09-30 9 -8 -11
2018-06-30 21 -7 -1
2018-03-31 28 -54 7
2017-12-31 26 -2 16
2017-09-30 23 -1 13
2017-06-30 17 -1 9
2017-03-31 15 0 4
2016-12-31 14 -4 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Capital Partners is high growth as no earnings estimate data is available.
  • Unable to determine if Capital Partners 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:CPA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Capital Partners Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:CPA Past Financials Data
Date (Data in PLN Millions) EPS *
2019-09-30 -0.81
2019-06-30 -0.81
2019-03-31 -0.87
2018-12-31 -0.64
2018-09-30 -0.56
2018-06-30 -0.03
2018-03-31 0.32
2017-12-31 0.69
2017-09-30 0.57
2017-06-30 0.38
2017-03-31 0.18
2016-12-31 0.18

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

Next steps:

  1. Examine Capital Partners's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Capital Partners'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 Diversified Financials companies here
  3. Capital Partners'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 Capital Partners'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.
Capital Partners 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.

Past Performance

  How has Capital Partners 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 Capital Partners's growth in the last year to its industry (Capital Markets).
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.
  • Capital Partners does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Capital Partners's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Capital Partners's 1-year growth to the PL Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Capital Partners'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 Capital Partners Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:CPA 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 2.91 -14.70 3.88
2019-06-30 3.16 -14.71 4.27
2019-03-31 3.47 -16.13 4.65
2018-12-31 11.84 -12.70 12.40
2018-09-30 9.13 -11.34 12.59
2018-06-30 21.25 -0.75 13.10
2018-03-31 27.66 7.18 14.45
2017-12-31 26.10 15.77 7.47
2017-09-30 22.74 13.17 7.50
2017-06-30 17.34 8.63 7.71
2017-03-31 15.48 4.22 10.03
2016-12-31 13.79 4.17 9.70
2016-09-30 30.40 17.45 9.76
2016-06-30 24.33 8.53 9.19
2016-03-31 23.97 15.82 5.52
2015-12-31 30.05 19.86 5.17
2015-09-30 11.55 5.18 4.86
2015-06-30 17.94 14.63 4.90
2015-03-31 20.77 12.91 4.64
2014-12-31 15.50 7.96 4.66
2014-09-30 39.82 23.59 4.67
2014-06-30 41.25 26.37 4.52
2014-03-31 38.21 26.26 4.34
2013-12-31 38.79 28.82 4.04
2013-09-30 22.17 19.56 4.08
2013-06-30 13.19 11.74 3.84
2013-03-31 8.71 0.78 3.85
2012-12-31 2.00 -5.38 4.01

*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 Capital Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Capital Partners has efficiently used its assets last year compared to the PL Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Capital Partners 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 Capital Partners'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 Capital Markets 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.
Capital Partners 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.

Health

 How is Capital Partners'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 Capital Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Capital Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Capital Partners's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Capital Partners'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.
  • Capital Partners has no debt, it does not need to be covered by short term assets.
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 Capital Partners Company Filings, last reported 2 months ago.

WSE:CPA Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 32.43 0.00 5.83
2019-06-30 33.91 0.00 5.46
2019-03-31 35.73 0.00 6.26
2018-12-31 43.17 0.00 5.73
2018-09-30 47.04 0.00 6.74
2018-06-30 48.53 0.00 4.08
2018-03-31 97.61 0.00 3.00
2017-12-31 101.82 0.00 2.15
2017-09-30 104.59 0.00 2.29
2017-06-30 105.70 0.00 2.96
2017-03-31 101.15 0.00 4.44
2016-12-31 96.57 0.00 4.39
2016-09-30 101.79 0.00 4.59
2016-06-30 97.32 0.00 5.30
2016-03-31 107.82 0.00 15.36
2015-12-31 103.28 0.00 17.98
2015-09-30 95.19 0.00 14.03
2015-06-30 99.56 0.00 14.12
2015-03-31 92.00 0.00 12.20
2014-12-31 83.42 0.00 13.25
2014-09-30 90.02 6.58 22.55
2014-06-30 84.93 7.28 24.95
2014-03-31 79.09 6.07 19.94
2013-12-31 75.46 6.12 21.28
2013-09-30 66.43 4.77 25.39
2013-06-30 58.56 4.96 23.28
2013-03-31 52.84 3.36 23.61
2012-12-31 46.64 2.64 18.78
  • Capital Partners has no debt.
  • Capital Partners has no debt compared to 5 years ago when it was 7.2%.
  • Capital Partners has no debt, it does not need to be covered by operating cash flow.
  • Capital Partners has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Capital Partners'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. Capital Partners has a total score of 6/6, 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.

Dividends

 What is Capital Partners'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 Capital Partners dividends.
If you bought PLN2,000 of Capital Partners 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 Capital Partners's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Capital Partners'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:CPA 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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 109 Stocks 3.4%
Poland Market Average Dividend Yield Market Cap Weighted Average of 198 Stocks 4.5%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Poland Bottom 25% Dividend Yield 25th Percentile 2.6%
Poland Top 25% Dividend Yield 75th Percentile 7.2%

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 Capital Partners has not reported any payouts.
  • Unable to verify if Capital Partners's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Capital Partners's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Capital Partners 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 Capital Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Capital Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Capital Partners 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.

Management

 What is the CEO of Capital Partners'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
Pawel Bala
COMPENSATION PLN226,560
TENURE AS CEO 16.9 years
CEO Bio

Mr. Pawel Bala founded Capital Partners S.A. in 2003 and has been its Chief Executive Officer and President of the Management Board since 2003. Mr. Bala is also an Investment Professional and Chairman of the Supervisory Board at TFI Capital Partners S.A. He has been Vice President of the Management Board at Dom Maklerski Capital Partners SA since 2005. He served as President of the Management Board and Chief Executive Officer at Tauro Invest Sp. z o.o (Tauro Invest SA) from 2002 to 2005. He served as a Secretary of the Supervisory Board at BIPROMET SA since 2005. From 1995 to 2001, Mr. Bala served as Member of the Management Board at ProCapital SA. From 1993 to 1995, he served as Deputy Director of the Warsaw branch at Biuro Maklerskie Arabski i Gawor sc. He served as the Chairman of Supervisory Board of Liberty Group Sp. z o.o. He served as Chairman of the Supervisory Board at Grupa DUON Spolka Akcyjna nad CP Energia S.A. Mr. Bala served as the Chairman of the Supervisory Board at AERO Sp. z o.o. from 2006 to 2008 and PTV Production Sp. z o.o. from 2007 to 2007. He served as a Vice Chairman of Supervisory Board at GEKOPLAST S.A since 2018. He has been Deputy Chairman of the Supervisory Board at eCARD SA since 2005 and Xtrade SA since 2006. He serves as a Member of the Supervisory Board at Symbio Polska spólka akcyjna. He has been a Member of the Board of Directors at ZAO KRIOGAZ (Russia) since 2007. He served as a Member of the Supervisory Board at Grupa DUON Spolka Akcyjna. Mr. Bala served as a Member of the Supervisory Board at TRAS INTUR SA from 2004 to 2006. He served as a Member of the Supervisory Board at Bipromet S.A. He has worked as a member or associate of the administrative, management and supervisory bodies for the last five years. He has broker's certificate in securities No 590. Mr. Bala has a degree in Economics and graduated with an M.A. degree from the Warsaw School of Economics.

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

Pawel Bala

TITLE
Founder
COMPENSATION
PLN227K
TENURE
16.9 yrs

Beata Cymer-Zabielska

TITLE
Chief Accountant
TENURE
13.9 yrs
Board of Directors Tenure

Average tenure of the Capital Partners board of directors in years:

4.7
Average Tenure
  • The tenure for the Capital Partners board of directors is about average.
Board of Directors

Jacek Jaszczolt

TITLE
Chairman of Supervisory Board
COMPENSATION
PLN19K

Slawomir Gajewski

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
PLN13K
TENURE
4.7 yrs

Katarzyna Perzak-Shultz

TITLE
Independent Member of Supervisory Board
COMPENSATION
PLN13K
TENURE
4.7 yrs

Zbigniew Kulinski

TITLE
Member of Supervisory Board
COMPENSATION
PLN13K

Marcin Rulnicki

TITLE
Independent Member of Supervisory Board
COMPENSATION
PLN14K
TENURE
4.7 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 Capital Partners'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. Capital Partners 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.

News

Simply Wall St News

Some Capital Partners (WSE:CPA) Shareholders Have Copped A Big 62% Share Price Drop

View our latest analysis for Capital Partners While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … WSE:CPA Past and Future Earnings, July 24th 2019 Dive deeper into Capital Partners's key metrics by checking this interactive graph of Capital Partners's earnings, revenue and cash flow. … You could get a better understanding of Capital Partners's growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Simply Wall St -

What Kind Of Investor Owns Most Of Capital Partners S.A. (WSE:CPA)?

Every investor in Capital Partners S.A. … Capital Partners is not a large company by global standards. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

Is Capital Partners S.A.'s (WSE:CPA) CEO Pay Fair?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Pawel Bala's Compensation Compare With Similar Sized Companies. … is worth zł30m, and total annual CEO compensation is zł227k.

Simply Wall St -

Could Capital Partners S.A.'s (WSE:CPA) Investor Composition Influence The Stock Price?

A look at the shareholders of Capital Partners S.A. … With a market capitalization of zł37m, Capital Partners is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Capital Partners

Simply Wall St -

Is Capital Partners SA's (WSE:CPA) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Pawel Bala's Compensation Compare With Similar Sized Companies. … Most shareholders would consider it a positive that Pawel Bala takes less compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

Who Are The Major Shareholders In Capital Partners SA (WSE:CPA)?

I am going to take a deep dive into Capital Partners SA’s (WSE:CPA) most recent ownership structure, not a frequent subject of discussion among individual investors. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … WSE:CPA Ownership Summary August 10th 18

Simply Wall St -

Does Capital Partners SA's (WSE:CPA) PE Ratio Warrant A Buy?

and want to begin learning the link between Capital Partners SA (WSE:CPA)’s fundamentals and stock market performance. … Capital Partners SA (WSE:CPA) is trading with a trailing P/E of 13.3x, which is lower than the industry average of 13.7x. … While CPA might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

Capital Partners SA. (WSE:CPA): Has Recent Earnings Growth Beaten Long-Term Trend?

See our latest analysis for Capital Partners Did CPA's recent earnings growth beat the long-term trend and the industry? … Given that these values are fairly short-term thinking, I have computed an annualized five-year figure for Capital Partners's earnings, which stands at ZŁ10.41M This means while earnings growth from last year was positive, over the long run, Capital Partners's earnings have been waning on average. … Revenue growth over the past few years, has been positive, however, earnings growth has fallen behind meaning Capital Partners has been growing its expenses by a lot more.

Simply Wall St -

Is Capital Partners SA.'s (WSE:CPA) PE Ratio A Signal To Buy For Investors?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for CPA Price per share = PLN4.1 Earnings per share = PLN0.576 ∴ Price-Earnings Ratio = PLN4.1 ÷ PLN0.576 = 7.1x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … At 7.1x, CPA’s P/E is lower than its industry peers (14.3x).

Simply Wall St -

Company Info

Description

Capital Partners S.A. operates as an investment company in Poland. It primarily invests in small and mid-sized enterprises. The company was founded in 2002 and is based in Warsaw, Poland.

Details
Name: Capital Partners S.A.
CPA
Exchange: WSE
Founded: 2002
PLN19,550,000
17,000,000
Website: http://www.c-p.pl
Address: Capital Partners S.A.
ul.Królewska 16 St.,
Warsaw,
00-103,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE CPA Common Bearer Shares Warsaw Stock Exchange PL PLN 20. Aug 2004
LSE 0LSM Common Bearer Shares London Stock Exchange GB PLN 20. Aug 2004
Number of employees
Current staff
Staff numbers
0
Capital Partners employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 20:31
End of day share price update: 2019/12/05 00:00
Last earnings filing: 2019/10/24
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.