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Cyfrowy Polsat

WSE:CPS
Snowflake Description

Average dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CPS
WSE
PLN17B
Market Cap
  1. Home
  2. PL
  3. Media
Company description

Cyfrowy Polsat S.A. provides digital satellite platform, digital terrestrial television (TV), and telecommunication services in Poland. The last earnings update was 82 days ago. More info.


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CPS Share Price and Events
7 Day Returns
-5.3%
WSE:CPS
-6.7%
PL Media
-3.6%
PL Market
1 Year Returns
15.4%
WSE:CPS
10.1%
PL Media
-9%
PL Market
CPS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cyfrowy Polsat (CPS) -5.3% -3.3% -3.8% 15.4% 12.5% 13.2%
PL Media -6.7% -4.6% -4.9% 10.1% 6.3% 13.5%
PL Market -3.6% -1.3% -2.3% -9% -8% -10%
1 Year Return vs Industry and Market
  • CPS outperformed the Media industry which returned 10.1% over the past year.
  • CPS outperformed the Market in Poland which returned -9% over the past year.
Price Volatility
CPS
Industry
5yr Volatility vs Market
Related Companies

CPS Value

 Is Cyfrowy Polsat 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 Cyfrowy Polsat 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 Cyfrowy Polsat.

WSE:CPS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
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:CPS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.5%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.773 (1 + (1- 19%) (69.36%))
1.138
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.99% + (1.138 * 6.51%)
9.4%

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

The calculations below outline how an intrinsic value for Cyfrowy Polsat 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:CPS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.4%)
2020 1,291.30 Analyst x4 1,180.34
2021 2,131.75 Analyst x4 1,781.13
2022 1,738.67 Analyst x3 1,327.87
2023 1,665.73 Analyst x3 1,162.85
2024 2,216.55 Analyst x2 1,414.41
2025 2,244.42 Est @ 1.26% 1,309.12
2026 2,277.57 Est @ 1.48% 1,214.31
2027 2,314.72 Est @ 1.63% 1,128.06
2028 2,354.96 Est @ 1.74% 1,049.06
2029 2,397.68 Est @ 1.81% 976.31
Present value of next 10 years cash flows PLN12,543.00
WSE:CPS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN2,397.68 × (1 + 1.99%) ÷ (9.4% – 1.99%)
PLN32,997.73
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN32,997.73 ÷ (1 + 9.4%)10
PLN13,436.28
WSE:CPS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN12,543.00 + PLN13,436.28
PLN25,979.28
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN25,979.28 / 639.55
PLN40.62
WSE:CPS Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN40.62
Current discount Discount to share price of PLN27.22
= -1 x (PLN27.22 - PLN40.62) / PLN40.62
33%

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

Current Discount
Amount off the current price Cyfrowy Polsat is available for.
Intrinsic value
33%
Share price is PLN27.22 vs Future cash flow value of PLN40.62
Current Discount Checks
For Cyfrowy Polsat to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cyfrowy Polsat's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cyfrowy Polsat'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 Cyfrowy Polsat's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cyfrowy Polsat's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:CPS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in PLN PLN1.34
WSE:CPS Share Price ** WSE (2020-01-28) in PLN PLN27.22
Poland Media Industry PE Ratio Median Figure of 9 Publicly-Listed Media Companies 19.85x
Poland Market PE Ratio Median Figure of 411 Publicly-Listed Companies 11.47x

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

** Primary Listing of Cyfrowy Polsat.

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

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

= 27.22 ÷ 1.34

20.3x

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

  • Cyfrowy Polsat is overvalued based on earnings compared to the PL Media industry average.
  • Cyfrowy Polsat is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Cyfrowy Polsat's expected growth come at a high price?
Raw Data
WSE:CPS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
11.6%per year
Europe Media Industry PEG Ratio Median Figure of 66 Publicly-Listed Media Companies 1.64x
Poland Market PEG Ratio Median Figure of 103 Publicly-Listed Companies 0.98x

*Line of best fit is calculated by linear regression .

WSE:CPS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.3x ÷ 11.6%

1.76x

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

  • Cyfrowy Polsat is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cyfrowy Polsat's assets?
Raw Data
WSE:CPS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in PLN PLN21.11
WSE:CPS Share Price * WSE (2020-01-28) in PLN PLN27.22
Poland Media Industry PB Ratio Median Figure of 21 Publicly-Listed Media Companies 0.82x
Poland Market PB Ratio Median Figure of 639 Publicly-Listed Companies 1.03x
WSE:CPS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 27.22 ÷ 21.11

1.29x

* Primary Listing of Cyfrowy Polsat.

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

  • Cyfrowy Polsat is overvalued based on assets compared to the PL Media industry average.
X
Value checks
We assess Cyfrowy Polsat'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Cyfrowy Polsat has a total score of 1/6, 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.

CPS Future Performance

 How is Cyfrowy Polsat expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cyfrowy Polsat expected to grow at an attractive rate?
  • Cyfrowy Polsat's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Cyfrowy Polsat's earnings growth is expected to exceed the Poland market average.
  • Cyfrowy Polsat's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:CPS Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:CPS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 11.6%
WSE:CPS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 1.1%
Europe Media Industry Earnings Growth Rate Market Cap Weighted Average 10%
Europe Media Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Poland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.3%

*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:CPS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:CPS Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 12,391 3
2023-12-31 12,250 3,549 1,722 3
2022-12-31 12,112 3,571 1,500 3
2021-12-31 12,160 3,636 1,515 9
2020-12-31 11,918 3,502 1,367 10
2020-01-28
2019-12-31 11,727 3,402 1,156 7
WSE:CPS Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-09-30 11,609 3,365 858
2019-06-30 11,452 3,253 853
2019-03-31 11,132 3,046 825
2018-12-31 10,686 2,915 834
2018-09-30 10,263 2,830 930
2018-06-30 9,919 2,642 947
2018-03-31 9,786 2,760 1,002
2017-12-31 9,829 2,941 981
2017-09-30 9,785 2,832 1,163
2017-06-30 9,781 3,028 1,199
2017-03-31 9,754 3,190 1,145
2016-12-31 9,730 2,885 1,041

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cyfrowy Polsat's earnings are expected to grow by 11.6% yearly, however this is not considered high growth (20% yearly).
  • Cyfrowy Polsat's revenue is expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:CPS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Cyfrowy Polsat Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:CPS Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 2.69 2.69 2.69 1.00
2022-12-31 2.32 2.54 2.10 2.00
2021-12-31 2.35 2.59 2.18 9.00
2020-12-31 2.14 2.30 1.97 9.00
2020-01-28
2019-12-31 1.74 1.80 1.69 7.00
WSE:CPS Past Financials Data
Date (Data in PLN Millions) EPS *
2019-09-30 1.34
2019-06-30 1.33
2019-03-31 1.29
2018-12-31 1.30
2018-09-30 1.45
2018-06-30 1.48
2018-03-31 1.57
2017-12-31 1.53
2017-09-30 1.82
2017-06-30 1.87
2017-03-31 1.79
2016-12-31 1.63

*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.
  • Cyfrowy Polsat is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cyfrowy Polsat'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.
Cyfrowy Polsat has a total score of 2/6, 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.

CPS Past Performance

  How has Cyfrowy Polsat 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 Cyfrowy Polsat's growth in the last year to its industry (Media).
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.
  • Cyfrowy Polsat's year on year earnings growth rate has been positive over the past 5 years.
  • Cyfrowy Polsat's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cyfrowy Polsat's 1-year earnings growth is negative, it can't be compared to the PL Media industry average.
Earnings and Revenue History
Cyfrowy Polsat'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 Cyfrowy Polsat Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:CPS 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 11,609.00 857.70 856.20
2019-06-30 11,451.60 852.50 844.00
2019-03-31 11,131.80 824.70 807.70
2018-12-31 10,686.10 833.60 738.90
2018-09-30 10,263.30 929.80 664.40
2018-06-30 9,919.20 946.60 866.20
2018-03-31 9,785.90 1,002.00 569.10
2017-12-31 9,828.60 980.60 553.10
2017-09-30 9,784.50 1,163.40 959.40
2017-06-30 9,781.40 1,198.70 294.40
2017-03-31 9,754.40 1,145.20 560.40
2016-12-31 9,729.80 1,041.30 570.50
2016-09-30 9,804.60 877.00 158.00
2016-06-30 9,831.70 1,101.30 556.40
2016-03-31 9,858.00 1,168.10 559.00
2015-12-31 9,823.00 1,163.40 550.20
2015-09-30 9,734.20 991.80 543.10
2015-06-30 9,738.90 537.50 538.80
2015-03-31 9,015.60 365.10 506.10
2014-12-31 7,409.90 292.50 421.70
2014-09-30 5,689.30 451.70 324.00
2014-06-30 3,947.00 579.90 246.40
2014-03-31 2,937.02 528.60 180.21
2013-12-31 2,910.80 525.50 178.60
2013-09-30 2,860.92 473.92 4.91
2013-06-30 2,828.16 469.59 70.61
2013-03-31 2,806.08 488.29 125.64

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

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

CPS Health

 How is Cyfrowy Polsat'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 Cyfrowy Polsat's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cyfrowy Polsat's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cyfrowy Polsat's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cyfrowy Polsat'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 0.5x 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 Cyfrowy Polsat Company Filings, last reported 3 months ago.

WSE:CPS Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 14,155.10 10,636.60 878.20
2019-06-30 13,918.50 10,382.90 774.90
2019-03-31 14,172.60 10,659.80 745.70
2018-12-31 13,875.20 11,247.00 1,167.00
2018-09-30 13,681.30 11,420.10 1,151.50
2018-06-30 13,454.00 11,236.70 876.10
2018-03-31 12,905.00 11,039.70 788.60
2017-12-31 12,116.80 11,653.60 1,166.60
2017-09-30 11,959.90 11,395.80 1,086.60
2017-06-30 11,725.10 11,632.30 1,354.60
2017-03-31 11,648.30 12,289.10 1,572.60
2016-12-31 11,377.60 12,450.80 1,332.70
2016-09-30 11,033.50 12,648.30 1,099.40
2016-06-30 10,761.60 12,845.10 946.30
2016-03-31 10,405.20 13,869.20 1,551.00
2015-12-31 10,250.10 12,402.30 1,512.00
2015-09-30 10,060.00 12,180.50 1,059.60
2015-06-30 9,557.80 13,266.40 1,426.90
2015-03-31 9,311.90 13,834.30 1,521.60
2014-12-31 9,078.20 14,147.80 1,735.30
2014-09-30 9,130.70 14,184.60 1,661.00
2014-06-30 9,091.70 14,372.30 2,164.30
2014-03-31 3,108.35 1,974.34 428.19
2013-12-31 3,001.20 1,936.70 342.20
2013-09-30 2,825.58 2,031.96 215.40
2013-06-30 2,647.30 2,185.18 265.80
2013-03-31 2,562.17 2,294.49 324.34
  • Cyfrowy Polsat's level of debt (75.1%) 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 (155.4% vs 75.1% today).
  • Debt is well covered by operating cash flow (31.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.9x coverage).
X
Financial health checks
We assess Cyfrowy Polsat'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. Cyfrowy Polsat has a total score of 3/6, 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.

CPS Dividends

 What is Cyfrowy Polsat'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
3.42%
Current annual income from Cyfrowy Polsat dividends. Estimated to be 3.76% next year.
If you bought PLN2,000 of Cyfrowy Polsat shares you are expected to receive PLN68 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?
  • Cyfrowy Polsat's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.26%).
  • Cyfrowy Polsat's dividend is below the markets top 25% of dividend payers in Poland (6.94%).
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:CPS 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 10 Analyst Estimates (S&P Global) See Below
Poland Media Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 3.5%
Poland Market Average Dividend Yield Market Cap Weighted Average of 198 Stocks 4.4%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Poland Bottom 25% Dividend Yield 25th Percentile 2.3%
Poland Top 25% Dividend Yield 75th Percentile 6.9%

Industry and Market average data is calculated daily.

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

WSE:CPS Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 1.42 1.00
2022-12-31 1.08 2.00
2021-12-31 1.07 10.00
2020-12-31 0.93 10.00
2020-01-28
2019-12-31 0.93 9.00
WSE:CPS Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-08-29 0.930 3.351
2019-03-21 0.930 3.366
2018-11-08 0.000 0.000
2018-08-23 0.000 0.000
2018-05-10 0.000 0.000
2018-03-22 0.000 0.000
2018-01-15 0.000 0.000
2017-05-11 0.320 1.257
2012-11-14 0.000 0.000
2012-08-30 0.000 0.000
2012-05-15 0.000 0.000
2012-03-12 0.000 0.000
2010-08-26 0.570 3.820
2010-05-17 0.570 3.902
2010-03-18 0.570 3.788
2009-03-26 0.750 5.083

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Cyfrowy Polsat's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Cyfrowy Polsat's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Cyfrowy Polsat afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cyfrowy Polsat has a total score of 4/6, see the detailed checks below.


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

CPS Management

 What is the CEO of Cyfrowy Polsat'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
Miroslaw Blaszczyk
TENURE AS CEO 0.8 years
CEO Bio

Mr. Miroslaw Blaszczyk has been Chairman of the Management Board at Cyfrowy Polsat SA. since April 01, 2019. He is also President of the Management Board of Polkomtel (since April 2019), Supervisory Board Member of Telewizja Polsat Sp. z o.o. and Muzo FM Sp. z o.o. and holds a position of Member of the Council of the Polsat Foundation. From 2007 to 2019, he served as President of the Management Board of Telewizja Polsat Sp. z o.o., and, until March 2019, as President of the Management Board of Lemon Records sp. o.o. and Eska TV S.A. From 1984 to 1988 he worked as director at Wroclaw University of Technology, later he worked for a year as Assistant to President and Sales Representative of the company "Intersoft", next, from 1990 to 1991, as Sales Representative in Munich-based company "Ampol". From 1992 he worked for Przedsiebiorstwo Zagraniczne "Solpol"; until 1993 as Deputy Director, and later as Director of Legal Office. In 1994 he joined Telewizja Polsat, where, until 2007, he held the position of Director of Management Board Office and served as Proxy. At the same time, from March 2005 to September 2006, he was Deputy General Director of Polska Telefonia Cyfrowa Sp. z o.o. Mr. Blaszczyk also served in the past as Member of the Supervisory Boards in, among others, Plus Bank S.A. and Elektrim S.A. Mr. Blaszczyk graduated from the German Faculty at the Wroclaw University.

CEO Compensation
  • Insufficient data for Miroslaw to compare compensation growth.
  • Insufficient data for Miroslaw to establish whether their remuneration is reasonable compared to companies of similar size in Poland.
Management Team Tenure

Average tenure of the Cyfrowy Polsat management team in years:

2
Average Tenure
  • The tenure for the Cyfrowy Polsat management team is about average.
Management Team

Maciej Stec

TITLE
Vice Chairman of the Management Board
COMPENSATION
PLN3M
TENURE
0.8 yrs

Katarzyna Ostap-Tomann

TITLE
CFO & Member of the Management Board
COMPENSATION
PLN3M
TENURE
3.3 yrs

Aneta Jaskólska

TITLE
Member of the Management Board
COMPENSATION
PLN2M
TENURE
9.5 yrs

Agnieszka Odorowicz

TITLE
Member of the Management Board
COMPENSATION
PLN1M
TENURE
3.8 yrs

Miroslaw Blaszczyk

TITLE
Chairman of the Management Board
TENURE
0.8 yrs

Jacek Felczykowski

TITLE
Member of Management Board
TENURE
0.8 yrs

Agnieszka Szatan

TITLE
Chief Accountant
Board of Directors Tenure

Average tenure of the Cyfrowy Polsat board of directors in years:

4.8
Average Tenure
  • The tenure for the Cyfrowy Polsat board of directors is about average.
Board of Directors

Marek Kapuscinski

TITLE
Chairman of the Supervisory Board
TENURE
3.3 yrs

Robert Gwiazdowski

TITLE
Independent Member of the Supervisory Board
TENURE
11.5 yrs

Tomasz Szelag

TITLE
Member of the Supervisory Board
TENURE
3.3 yrs

Leszek Reksa

TITLE
Independent Member of the Supervisory Board
TENURE
11.5 yrs

Józef Birka

TITLE
Member of the Supervisory Board
TENURE
4.8 yrs

Aleksander Myszka

TITLE
Member of the Supervisory Board
TENURE
4.8 yrs

Piotr Zak

TITLE
Member of the Supervisory Board
TENURE
1.6 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 Cyfrowy Polsat'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. Cyfrowy Polsat 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.

CPS News

Simply Wall St News

Should You Worry About Cyfrowy Polsat S.A.'s (WSE:CPS) CEO Salary Level?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Tobias Solorz's Compensation Compare With Similar Sized Companies. … is worth zł17b, and total annual CEO compensation is zł1.7m.

Simply Wall St -

A Closer Look At Cyfrowy Polsat S.A.'s (WSE:CPS) Uninspiring ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Cyfrowy Polsat S.A. … That means that for every PLN1 worth of shareholders' equity, it generated PLN0.066 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Cyfrowy Polsat SA (WSE:CPS): A Look At Return On Capital

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Cyfrowy Polsat’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Is Cyfrowy Polsat SA (WSE:CPS) A Financially Sound Company?

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Cyfrowy Polsat SA (WSE:CPS), with a market cap of zł14.19b, are often out of the spotlight. … Today we will look at CPS’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Check out our latest analysis for Cyfrowy Polsat

Simply Wall St -

Is Cyfrowy Polsat SA's (WSE:CPS) PE Ratio A Signal To Sell For Investors?

While CPS might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … View our latest analysis for Cyfrowy Polsat

Simply Wall St -

Cyfrowy Polsat SA (WSE:CPS): Immense Growth Potential?

In March 2018, Cyfrowy Polsat SA (WSE:CPS) released its earnings update. … as upcoming earnings growth is expected to be 20.31% next year, similar to the range of average earnings growth for the past five years of 22.12% per year … Presently, with latest-twelve-month earnings at zł1.00b, we should see this growing to zł1.21b by 2019

Simply Wall St -

Have You Considered This Before Investing In Cyfrowy Polsat SA (WSE:CPS)?

Cyfrowy Polsat SA (WSE:CPS) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Cyfrowy Polsat generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … There are two methods I will use to evaluate the quality of Cyfrowy Polsat’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability.

Simply Wall St -

Should Cyfrowy Polsat SA's (WSE:CPS) Recent Earnings Worry You?

After looking at Cyfrowy Polsat SA's (WSE:CPS) latest earnings announcement (31 March 2018), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … View out our latest analysis for Cyfrowy Polsat? … CPS's trailing twelve-month earnings (from 31 March 2018) of zł1.00b has

Simply Wall St -

At zł022.4, Is Cyfrowy Polsat SA (WSE:CPS) A Buy?

received a lot of attention from a substantial price movement on the WSE over the last few months, increasing to PLN26.44 at one point, and dropping to the lows of PLN22.4. … A question to answer is whether Cyfrowy Polsat's current trading price of PLN22.4 reflective of the actual value of the? … Let’s take a look at Cyfrowy Polsat’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Why Fundamental Investors Love Cyfrowy Polsat SA (WSE:CPS)

In the case of Cyfrowy Polsat SA (WSE:CPS), there's. … is a company that has been able to sustain great financial health, trading at an attractive share price. … report on Cyfrowy Polsat here

Simply Wall St -

CPS Company Info

Description

Cyfrowy Polsat S.A. provides digital satellite platform, digital terrestrial television (TV), and telecommunication services in Poland. The company operates through two segments, Services to Individual and Business Customers and Broadcasting and Television Production. The Services to Individual and Business Customers segment offers digital pay TV, video online, mobile telephony, and broadband Internet access services; bundled services and end-user devices; and smartDOM and smartFIRMA programs. It also provides services to other telecommunication operators, such as network interconnection, roaming, shared access to network assets, and lease of network infrastructure; and services to mobile virtual network operators, as well as produces set-top boxes; and sells telecommunication equipment. It offers approximately 170 TV channels, including terrestrial, general entertainment, sports, music, lifestyle, news/information, children’s, education, and movie channels; approximately 80 high definition (HD) channels; and over the top services, such as Cyfrowy Polsat Go, VOD/PPV, online video, catch-up TV, and multiroom HD services. The Broadcasting and Television Production segment produces, acquires, and broadcasts information and entertainment programs, as well as TV series and feature films broadcasted on television and radio channels; and sells TV channel advertising airtime and sponsoring, and channel broadcasting rights. It is also involved in trading programming licenses and gaseous fuels; and Web portal, technical, and financial transaction activities. The company was formerly known as Polsat Cyfrowy S.A. and changed its name to Cyfrowy Polsat S.A. in 2004. Cyfrowy Polsat S.A. was founded in 1996 and is based in Warsaw, Poland.

Details
Name: Cyfrowy Polsat S.A.
CPS
Exchange: WSE
Founded: 1996
PLN17,293,324,272
639,546,016
Website: http://www.cyfrowypolsat.pl
Address: Cyfrowy Polsat S.A.
Lubinowa 4a,
Warsaw,
03-878,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE CPS Ordinary Bearer Shares Warsaw Stock Exchange PL PLN 06. May 2008
DB CP9 Ordinary Bearer Shares Deutsche Boerse AG DE EUR 06. May 2008
LSE 0MNQ Ordinary Bearer Shares London Stock Exchange GB PLN 06. May 2008
OTCPK CYFW.Y UNSPONSORD ADR Pink Sheets LLC US USD 26. Jul 2012
Number of employees
Current staff
Staff numbers
7,270
Cyfrowy Polsat employees.
Industry
Cable and Satellite
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/28 21:26
End of day share price update: 2020/01/28 00:00
Last estimates confirmation: 2020/01/24
Last earnings filing: 2019/11/07
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.