ScoreWhy is Bank Millennium SA ?
1
Weak Capital Buffers- the bank has a low Capital Adequacy Ratio of 14.06% signifying inadequate buffers against its risk based assets
- Weak Capital Buffers- the bank has a low Capital Adequacy Ratio of 14.06% signifying inadequate buffers against its risk based assets
- A high ratio signifies bank has weaker due diligence systems when giving out loans
2
Flat results in Mar 26
- ROCE(HY) Lowest at 0.87%
- NII(Q) Lowest at PLN 1,390.49 MM
- CREDIT DEPOSIT RATIO(HY) Lowest at 59.8%
3
With ROA of 0.47%, it has a attractive valuation with a 2.20 Price to Book Value
- The stock is trading at a discount compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of 39.27%, its profits have risen by 67% ; the PEG ratio of the company is 0.3
4
Consistent Returns over the last 3 years
- Along with generating 39.27% returns in the last 1 year, the stock has outperformed Poland WIG in each of the last 3 annual periods
Real-Time Research ReportHow much should you hold?
- Overall Portfolio exposure to Bank Millennium SA should be less than 10%
- Overall Portfolio exposure to Regional Banks should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in Regional Banks)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is Bank Millennium SA for you?
Medium Risk, High Return
Absolute
Risk Adjusted
Volatility
Bank Millennium SA
36.75%
4.02
33.59%
Poland WIG
29.57%
1.74
17.24%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
23.90%
EBIT Growth (5y)
32.49%
EBIT to Interest (avg)
0
Debt to EBITDA (avg)
0
Net Debt to Equity (avg)
0
Sales to Capital Employed (avg)
0
Tax Ratio
0
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0.20%
ROCE (avg)
0
ROE (avg)
0
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
20
Industry P/E
Price to Book Value
2.20
EV to EBIT
7.97
EV to EBITDA
7.50
EV to Capital Employed
1.83
EV to Sales
3.10
PEG Ratio
0.29
Dividend Yield
NA
ROCE (Latest)
22.96%
ROE (Latest)
11.23%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bullish
Bullish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bullish
Mildly Bullish
Moving Averages
Bullish (Daily)
KST
Bullish
Mildly Bearish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend7What is working for the Company
GROSS NPA (%)
(Q
ROCE(HY)
Highest at 0.87%
-10What is not working for the Company
ROCE(HY)
Lowest at 0.87%
NII(Q)
Lowest at PLN 1,390.49 MM
CREDIT DEPOSIT RATIO(HY)
Lowest at 59.8%
NET SALES(Q)
Lowest at PLN 2,143.98 MM
OPERATING PROFIT(Q)
Lowest at PLN 730.83 MM
OPERATING PROFIT MARGIN(Q)
Lowest at 34.09 %
PRE-TAX PROFIT(Q)
Lowest at PLN 728.06 MM
NET PROFIT(Q)
Lowest at PLN 435.9 MM
Here's what is working for Bank Millennium SA
Non Performing Loans (%)
Lowest at 3.66% and Fallen
In each half year in the last four Semi-Annual periodsMOJO Watch
Proportion of stressed loans given by the bank are falling
Non Performing Loans (%)
Depreciation
Highest at PLN 61.21 MM
in the last five periodsMOJO Watch
The expenditure on assets done by the company may have gone into operation
Depreciation (PLN MM)
Here's what is not working for Bank Millennium SA
NII
Lowest at PLN 1,390.49 MM
in the last five periodsMOJO Watch
The bank's income from core business is falling
NII (PLN MM)
Net Sales
Lowest at PLN 2,143.98 MM
in the last five periodsMOJO Watch
Near term sales trend is negative
Net Sales (PLN MM)
Operating Profit
Lowest at PLN 730.83 MM
in the last five periodsMOJO Watch
Near term Operating Profit trend is negative
Operating Profit (PLN MM)
Operating Profit Margin
Lowest at 34.09 %
in the last five periodsMOJO Watch
Company's profit margin has deteriorated
Operating Profit to Sales
Pre-Tax Profit
Lowest at PLN 728.06 MM
in the last five periodsMOJO Watch
Near term Pre-Tax Profit trend is negative
Pre-Tax Profit (PLN MM)
Net Profit
Lowest at PLN 435.9 MM
in the last five periodsMOJO Watch
Near term Net Profit trend is negative
Net Profit (PLN MM)
Credit Deposit Ratio
Lowest at 59.8%
in the last four Semi-Annual periodsMOJO Watch
Bank has been creating proportionately lower loans against its deposits, thereby creating fewer revenue generating assets
Credit Deposit Ratio (%)
InfinHub Market Technologies FZ-LLC, Building-2, Unit 112, Dubai Internet City, Dubai, United Arab Emirates
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