Luka Ploce d.d (ZGSE:LKPC) Strong Profits May Be Masking Some Underlying Issues
May 08
Croatian (CROBEX) Market Analysis & Valuation
UpdatedMay 08, 2024
DataAggregated Company Financials
Companies64
- 7D0.2%
- 3M1.4%
- 1Y28.0%
- YTD8.2%
Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. As for the longer term, the market has risen 28% in the past 12 months. Earnings are forecast to be flat in the coming years.
Market Valuation and Performance
Has the Croatian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 08 May 2024 | Kn24.3b | Kn16.1b | Kn1.7b | 14.7x | 14.3x | 1.5x |
| Fri, 05 Apr 2024 | Kn24.9b | Kn16.0b | Kn1.6b | 15x | 15.3x | 1.6x |
| Sun, 03 Mar 2024 | Kn24.2b | Kn15.8b | Kn1.6b | 14.8x | 14.7x | 1.5x |
| Tue, 30 Jan 2024 | Kn25.5b | Kn17.9b | Kn1.4b | 16.1x | 18.3x | 1.4x |
| Thu, 28 Dec 2023 | Kn24.5b | Kn18.0b | Kn1.4b | 15.4x | 17.6x | 1.4x |
| Sat, 25 Nov 2023 | Kn23.2b | Kn17.9b | Kn1.4b | 16x | 16.6x | 1.3x |
| Mon, 23 Oct 2023 | Kn22.2b | Kn17.3b | Kn1.3b | 15.8x | 16.5x | 1.3x |
| Wed, 20 Sep 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 15.4x | 16.8x | 1.3x |
| Fri, 18 Aug 2023 | Kn22.6b | Kn17.3b | Kn1.3b | 16.1x | 16.8x | 1.3x |
| Sun, 16 Jul 2023 | Kn21.6b | Kn17.0b | Kn1.4b | 18.6x | 16x | 1.3x |
| Tue, 13 Jun 2023 | Kn21.7b | Kn17.2b | Kn1.3b | 17.6x | 16.2x | 1.3x |
| Thu, 11 May 2023 | Kn20.5b | Kn16.3b | Kn1.2b | 18.7x | 16.8x | 1.3x |
| Sat, 08 Apr 2023 | Kn20.8b | Kn16.1b | Kn1.2b | 17.5x | 16.7x | 1.3x |
| Mon, 06 Mar 2023 | Kn20.6b | Kn15.5b | Kn1.3b | 16.1x | 15.8x | 1.3x |
| Wed, 01 Feb 2023 | Kn19.6b | Kn15.6b | Kn1.5b | 14.8x | 13x | 1.3x |
| Fri, 30 Dec 2022 | Kn135.3b | Kn107.0b | Kn11.5b | 14.1x | 11.8x | 1.3x |
| Sun, 27 Nov 2022 | Kn133.6b | Kn107.0b | Kn11.5b | 13.5x | 11.6x | 1.2x |
| Tue, 25 Oct 2022 | Kn131.5b | Kn97.4b | Kn9.9b | 14.7x | 13.3x | 1.4x |
| Thu, 22 Sep 2022 | Kn134.1b | Kn97.1b | Kn9.8b | 14.7x | 13.7x | 1.4x |
| Sat, 20 Aug 2022 | Kn135.4b | Kn97.1b | Kn9.8b | 14.8x | 13.8x | 1.4x |
| Mon, 18 Jul 2022 | Kn133.8b | Kn90.1b | Kn8.0b | 14.2x | 16.8x | 1.5x |
| Wed, 15 Jun 2022 | Kn136.6b | Kn90.8b | Kn8.0b | 15.2x | 17x | 1.5x |
| Fri, 13 May 2022 | Kn137.4b | Kn90.7b | Kn8.0b | 15.6x | 17.2x | 1.5x |
| Sun, 10 Apr 2022 | Kn139.9b | Kn89.8b | Kn7.1b | 18.4x | 19.6x | 1.6x |
| Tue, 08 Mar 2022 | Kn133.8b | Kn89.4b | Kn7.3b | 17.5x | 18.4x | 1.5x |
| Thu, 03 Feb 2022 | Kn139.2b | Kn84.6b | Kn6.6b | 14x | 21.2x | 1.6x |
| Sat, 01 Jan 2022 | Kn138.4b | Kn84.6b | Kn6.6b | 13.3x | 21.1x | 1.6x |
| Mon, 29 Nov 2021 | Kn134.9b | Kn84.2b | Kn6.6b | 12.4x | 20.5x | 1.6x |
| Wed, 27 Oct 2021 | Kn135.5b | Kn77.7b | Kn3.7b | 17.2x | 36.9x | 1.7x |
| Fri, 24 Sep 2021 | Kn132.3b | Kn77.1b | Kn3.7b | 16.7x | 36.1x | 1.7x |
| Sun, 22 Aug 2021 | Kn131.9b | Kn77.8b | Kn3.3b | 14.4x | 39.8x | 1.7x |
| Fri, 09 Jul 2021 | Kn131.4b | Kn77.8b | Kn3.3b | 14.4x | 39.6x | 1.7x |
Price to Earnings Ratio
59.4x
Current Market PE
- Investors are pessimistic on the Croatian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 14.3x which is lower than its 3-year average PE of 20.3x.
Past Earnings Growth
- The earnings for companies in the Croatian industry have declined 8.1% per year over the last three years.
- Revenues have also declined 40% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Sector Trends
Which sectors have driven the changes within the Croatian Market?
| HR Market | 0.15% | |
| Financials | 1.52% | |
| Tech | 1.24% | |
| Telecom | 0.33% | |
| Consumer Staples | 0.15% | |
| Real Estate | 0% | |
| Materials | 0% | |
| Utilities | 0% | |
| Energy | -0.087% | |
| Consumer Discretionary | -1.02% | |
| Industrials | -1.03% | |
| Healthcare | -2.70% | |
Sector PE
- Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 18.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 78.7% which is higher than its past year's earnings decline of 2.1% per year.
- The Financials sector is the least preferred by investors for future growth, which is trading below its 3-year average of 11.3x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 79% over the next 5 years.
- This is better than its past earnings decline of 2.1% per year.
- In contrast, the Industrials sector is expected to see its earnings decline by 6.9% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| ZABA Zagrebacka banka d.d | €17.05 | 1.8% +€96.1m | 56.4% | PB1.9x | Financials | |
| CROS Croatia osiguranje d.d | €1.30k | 3.2% +€16.8m | n/a | PE9.4x | Financials | |
| ATPL Atlantska Plovidba d.d | €52.40 | 15.2% +€14.4m | -11.8% | PS2.3x | Industrials | |
| KODT Koncar - distributivni i specijalni transformatori d.d | €1.56k | 1.3% +€10.2m | 236.2% | PE11.5x | Industrials | |
| HT Hrvatski Telekom d.d | €30.70 | 0.3% +€7.7m | 21.3% | PE18x | Telecom |
