Bank Pekao Sa Net Income decreased slightly on 0.58% in 2016
09 Feb 2017 • About Bank Pekao Sa (
$BPKD) • By InTwits
Bank Pekao Sa reported 2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- The company has business model with low profitability: ROIC is at 7.3%
- It operates with high leverage: Net Debt/EBITDA is 0.6x while industry average is
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
Bank Pekao Sa ($BPKD) key annual financial indicators
| mln. PLN | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 11,716 | 10,181 | 9,542 | 8,683 | 8,671 | -0.1% |
| Net Income | 2,943 | 2,785 | 2,715 | 2,292 | 2,279 | -0.6% |
Balance Sheet
|
|---|
| Cash | 9,207 | 4,191 | 9,226 | 7,882 | 5,873 | -25.5% |
| Short Term Debt | 7,007 | 5,823 | 5,811 | 5,607 | 5,163 | -7.9% |
| Long Term Debt | 3,173 | 3,064 | 3,857 | 2,903 | 1,523 | -47.5% |
Cash flow
|
|---|
Ratios
|
|---|
| Revenue growth | 8.5% | -13.1% | -6.3% | -9.0% | -0.1% | |
| Net Income Margin | 25.1% | 27.4% | 28.4% | 26.4% | 26.3% | -0.1% |
| ROIC | 8.5% | 7.8% | 7.8% | 6.3% | 7.3% | 1.0% |
| ROE | 13.2% | 12.0% | 11.4% | 9.7% | 9.8% | 0.2% |
Revenue and profitability
Bank Pekao Sa's Revenue showed almost no change in 2016.
Net Income marign showed almost no change in 2016.
Return on investment
The company operates at low ROIC (7.28%) and ROE (9.84%). ROIC increased slightly on 0.99 pp from 6.3% to 7.3% in 2016. ROE showed almost no change in 2016.
Leverage (Debt)
Debt dropped on 21.4% in 2016 while cash dropped on 25.5% in 2016.
Appendix 1: Peers in Banks
Below we provide Bank Pekao Sa benchmarking against other companies in Banks industry for the last 5 years. We show data for the top-5 companies by key financial metric together with the median value for all the companies in the industry.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kazkommertsbank JSC ($KKB) | | 6.0% | 16.3% | 41.4% | |
| Sberbank Of Russia ($SBER) | 37.2% | 25.1% | 23.4% | 27.4% | |
| Commercial Intl Bank(Egypt)S.A.E ($CBKD) | | 23.7% | 18.9% | 26.8% | 27.0% |
| Yapi Ve Kredi Bankasi As ($YKBD) | | 4.8% | 19.7% | 25.3% | 17.8% |
| Mcb Bank Ltd ($MCBS) | | -1.7% | 19.4% | 22.4% | -10.7% |
| |
|---|
| Median (43 companies) | 13.9% | 4.8% | 12.1% | 5.5% | 5.0% |
|---|
| Bank Pekao Sa ($BPKD) | | -13.1% | -6.3% | -9.0% | -0.1% |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Banque Marocaine Du Comm Exterieur ($69IR) | 3.7% | 9.7% | 4.3% | 26.8% | |
| Lloyds Banking Group ($LLPC) | 8.0% | 8.9% | 13.1% | 13.6% | 14.5% |
| Banco Santander Sa ($BNC) | 2.7% | 2.6% | 8.9% | 10.2% | 9.1% |
| Guaranty Trust Bank ($GRTB) | 6.7% | 6.1% | 6.8% | 7.7% | |
| Diamond Bank ($DBPA) | 8.2% | 7.9% | 6.0% | 6.7% | |
| |
|---|
| Median (42 companies) | 2.3% | 2.7% | 2.1% | 2.5% | 1.9% |
|---|
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Commercial Intl Bank(Egypt)S.A.E ($CBKD) | 21.7% | 26.9% | 30.1% | 30.3% | 28.5% |
| Guaranty Trust Bank ($GRTB) | 19.8% | 18.9% | 17.8% | 16.0% | |
| Mcb Bank Ltd ($MCBS) | 15.0% | 14.4% | 15.8% | 14.9% | 12.5% |
| United Bank Ltd ($UBLS) | 11.7% | 11.8% | 13.8% | 12.6% | |
| Zenith Bank ($ZENB) | 19.0% | 17.6% | 15.0% | 11.2% | |
| |
|---|
| Median (43 companies) | 6.0% | 5.3% | 4.4% | 3.4% | 4.5% |
|---|
| Bank Pekao Sa ($BPKD) | 8.5% | 7.8% | 7.8% | 6.3% | 7.3% |
