Reading the annual reports…
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Poland
In shortPZ Cormay Spółka Akcyjna is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -5.1% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -7.7% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -10.4% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.64× | 70/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -0.89× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -1.14 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -13.1% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 3 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 3 | 33/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 2 | 100/100 |
| Revenue growth volatility | 20.5% | 35/100 |
| Operating margin volatility | 5.6% | 59/100 |
Weight in the score: 20%
Fiscal year 2022 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
The last 3 fiscal years from the company's annual reports.
PLN millions; negative values in parentheses.
| Fiscal year | FY20 | FY21 | FY22 |
|---|---|---|---|
| Revenue | 65 | 85 | 85 |
| Cost of revenue | 39 | 50 | 50 |
| Gross profit | 27 | 35 | 35 |
| Research & development | – | 3.2 | 3.5 |
| Operating income | (7.3) | (0.1) | (4.3) |
| Interest expense | 6.7 | 2 | 4.8 |
| Pre-tax income | (13) | 1.8 | (6.2) |
| Income tax | 0.1 | 0.1 | 0.4 |
| Net income | (13) | 1.6 | (6.6) |
| Diluted EPS | −zł0.15 | zł0.02 | −zł0.08 |
−1.14 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
2/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2022 · Data updated Dec 31, 2022