New Risk • May 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$138.7m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (AU$138.7m market cap, or US$99.4m). Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to AU$1.05, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 22x in the Chemicals industry globally. Total loss to shareholders of 9.6% over the past three years. Declared Dividend • Mar 29
First half dividend increased to AU$0.01 Dividend of AU$0.01 is 33% higher than last year. Ex-date: 15th April 2026 Payment date: 30th April 2026 Dividend yield will be 2.3%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 63% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.0% EPS decline seen over the last 5 years. New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (AU$110.2m market cap, or US$71.8m). Upcoming Dividend • Oct 14
Upcoming dividend of AU$0.01 per share Eligible shareholders must have bought the stock before 20 October 2025. Payment date: 20 November 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Australian dividend payers (5.6%). Higher than average of industry peers (2.2%). Declared Dividend • Sep 25
Final dividend of AU$0.01 announced Shareholders will receive a dividend of AU$0.01. Ex-date: 20th October 2025 Payment date: 20th November 2025 Dividend yield will be 2.6%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 23
Clover Corporation Limited, Annual General Meeting, Nov 18, 2025 Clover Corporation Limited, Annual General Meeting, Nov 18, 2025. Reported Earnings • Sep 23
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: AU$0.042 (up from AU$0.009 in FY 2024). Revenue: AU$86.0m (up 38% from FY 2024). Net income: AU$7.02m (up 363% from FY 2024). Profit margin: 8.2% (up from 2.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 4.0% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 22% per year. Major Estimate Revision • Jun 13
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from AU$78.9m to AU$81.1m. EPS estimate increased from AU$0.029 to AU$0.039 per share. Net income forecast to grow 46% next year vs 15% growth forecast for Chemicals industry in Australia. Consensus price target up from AU$0.60 to AU$0.68. Share price rose 29% to AU$0.51 over the past week. Reported Earnings • Mar 22
First half 2025 earnings released: EPS: AU$0.014 (vs AU$0.004 loss in 1H 2024) First half 2025 results: EPS: AU$0.014 (up from AU$0.004 loss in 1H 2024). Revenue: AU$37.6m (up 38% from 1H 2024). Net income: AU$2.37m (up AU$3.02m from 1H 2024). Profit margin: 6.3% (up from net loss in 1H 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 35% per year whereas the company’s share price has fallen by 32% per year. Major Estimate Revision • Mar 20
Consensus EPS estimates increase by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from AU$74.5m to AU$78.8m. EPS estimate increased from AU$0.025 to AU$0.029 per share. Net income forecast to grow 219% next year vs 20% growth forecast for Chemicals industry in Australia. Consensus price target of AU$0.60 unchanged from last update. Share price rose 23% to AU$0.43 over the past week. Recent Insider Transactions • Dec 22
Independent Non-Executive Chairman recently bought AU$88k worth of stock On the 19th of December, Rupert Harrington bought around 200k shares on-market at roughly AU$0.44 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Rupert has been a buyer over the last 12 months, purchasing a net total of AU$206k worth in shares. Declared Dividend • Sep 26
Dividend of AU$0.0075 announced Shareholders will receive a dividend of AU$0.0075. Ex-date: 21st October 2024 Payment date: 18th November 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.5%. Reported Earnings • Sep 25
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: AU$0.009 (down from AU$0.037 in FY 2023). Revenue: AU$62.2m (down 22% from FY 2023). Net income: AU$1.52m (down 76% from FY 2023). Profit margin: 2.4% (down from 7.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 153%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 32% per year. New Risk • Jul 22
New major risk - Revenue and earnings growth Earnings have declined by 16% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (3.1% net profit margin). Market cap is less than US$100m (AU$81.0m market cap, or US$54.0m). Buy Or Sell Opportunity • May 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to AU$0.51. The fair value is estimated to be AU$0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Buy Or Sell Opportunity • Apr 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to AU$0.52. The fair value is estimated to be AU$0.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Buy Or Sell Opportunity • Apr 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 37% to AU$0.52. The fair value is estimated to be AU$0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Recent Insider Transactions • Apr 05
Independent Non-Executive Chairman recently bought AU$100k worth of stock On the 3rd of April, Rupert Harrington bought around 200k shares on-market at roughly AU$0.50 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Rupert's only on-market trade for the last 12 months. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 86% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from AU$70.1m to AU$64.6m. EPS estimate also fell from AU$0.0262 per share to AU$0.0036 per share. Net income forecast to grow 6.9% next year vs 22% growth forecast for Chemicals industry in Australia. Consensus price target down from AU$0.85 to AU$0.60. Share price fell 39% to AU$0.49 over the past week. Buy Or Sell Opportunity • Mar 25
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 38% to AU$0.50. The fair value is estimated to be AU$0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Reported Earnings • Mar 22
First half 2024 earnings released: AU$0.004 loss per share (vs AU$0.022 profit in 1H 2023) First half 2024 results: AU$0.004 loss per share (down from AU$0.022 profit in 1H 2023). Revenue: AU$27.3m (down 39% from 1H 2023). Net loss: AU$643.0k (down 118% from profit in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.1% Last year net profit margin: 10% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (3.1% net profit margin). Market cap is less than US$100m (AU$103.5m market cap, or US$68.2m). Major Estimate Revision • Nov 24
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from AU$81.5m to AU$70.1m. EPS estimate fell from AU$0.037 to AU$0.026 per share. Net income forecast to shrink 29% next year vs 16% growth forecast for Chemicals industry in Australia . Consensus price target down from AU$1.10 to AU$0.85. Share price fell 6.0% to AU$0.78 over the past week. Announcement • Nov 20
Clover Corporation Limited Declares Payment of Final Dividend for the Financial Year 2023 Clover Corporation Limited announced that the payment of its financial year 2023 final dividend, being 0.75 cent per share fully franked, has now been made. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Toni Brendish was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 18
Clover Corporation Limited, Annual General Meeting, Nov 23, 2023 Clover Corporation Limited, Annual General Meeting, Nov 23, 2023. New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$157.0m (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 26
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: AU$0.037 (down from AU$0.043 in FY 2022). Revenue: AU$79.9m (up 13% from FY 2022). Net income: AU$6.21m (down 13% from FY 2022). Profit margin: 7.8% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 20% per year. Announcement • Sep 26
Clover Corporation Limited Declares Fully Franked Final Dividend for the Financial Year Ended 31 July 2023, Payable on 20 November 2023 The Directors of Clover Corporation Limited declared a final dividend for the financial year ended 31 July 2023 of 0.75 cent per share (2022: final 1.0 cent per share) fully franked at 30%, payable on 20 November 2023, but not recognised as a liability at the end of the financial period. The record date for this dividend will be 31 October 2023. Ex-dividend date is 30 October 2023. Major Estimate Revision • May 26
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$85.4m to AU$78.1m. EPS estimate also fell from AU$0.039 per share to AU$0.03 per share. Net income forecast to shrink 23% next year vs 5.0% growth forecast for Chemicals industry in Australia . Consensus price target down from AU$1.35 to AU$1.30. Share price fell 12% to AU$1.20 over the past week. Price Target Changed • May 25
Price target decreased by 7.1% to AU$1.30 Down from AU$1.40, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of AU$1.28. Stock is down 3.0% over the past year. The company is forecast to post earnings per share of AU$0.03 for next year compared to AU$0.043 last year. Major Estimate Revision • Mar 21
Consensus EPS estimates fall by 23%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from AU$79.8m to AU$85.4m. EPS estimate fell from AU$0.051 to AU$0.039 per share. Net income forecast to shrink 9.1% next year vs 19% growth forecast for Chemicals industry in Australia . Consensus price target of AU$1.35 unchanged from last update. Share price fell 10% to AU$1.18 over the past week. Reported Earnings • Mar 15
First half 2023 earnings released: EPS: AU$0.022 (vs AU$0.012 in 1H 2022) First half 2023 results: EPS: AU$0.022 (up from AU$0.012 in 1H 2022). Revenue: AU$44.4m (up 49% from 1H 2022). Net income: AU$3.64m (up 81% from 1H 2022). Profit margin: 8.2% (up from 6.8% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Nov 22
Clover Corporation Limited Payment of Final Dividend for the Financial Year 2022 Clover Corporation Ltd. advised that the payment of its financial year 2022 final dividend, being 1.0 cent per share fully franked, has now been made. Announcement • Oct 28
Clover Informs Study Results by the South Australian Health and Medical Research Institute Clover has been informed of the study results by the South Australian Health and Medical Research Institute (SAHMRI), which conducted the double-blind randomised controlled clinical trial. The results of the N3RO study, one of the larger of its type conducted in the world, have been published in the New England Journal of Medicine. Clover Corporation is a science-based bioactives company developing novel nutritional applications of Docosahexaenoic Acid (DHA). It donated the DHA emulsion to the study, but was not involved in the study design, conduct or report preparation. The N3RO study involved 1273 babies from Australia, New Zealand and Singapore, born at less than 29 weeks of gestational age, half who received DHA supplementation and half who received a placebo. The potential cognitive benefits of the high DHA emulsion were assessed once participants reached five years of age in a subgroup of 656 children who were enrolled from the 5 larger recruitment centres. Announcement • Oct 19
Clover Corporation Limited Declares Fully Franked Final Dividend for the Year Ended 31 July 2022, Payable on 22 November 2022 The Directors of Clover Corporation Limited have declared a fully franked final dividend of 1.0 cent per share ($1,664,394) in respect of the year ended 31 July 2022. The record date for this dividend will be 26 October 2022 with payment due on 22 November 2022. An interim dividend of 0.5 centper share was paid for fiscal year 2022. Upcoming Dividend • Oct 18
Upcoming dividend of AU$0.01 per share Eligible shareholders must have bought the stock before 25 October 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (2.9%). Announcement • Oct 11
Clover Corporation Limited, Annual General Meeting, Nov 24, 2022 Clover Corporation Limited, Annual General Meeting, Nov 24, 2022. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 16% share price gain to AU$1.17, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 13x in the Chemicals industry globally. Total loss to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to AU$1.07, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Chemicals industry in Australia. Total loss to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$0.54 per share. Price Target Changed • Apr 27
Price target decreased to AU$1.63 Down from AU$1.88, the current price target is an average from 2 analysts. New target price is 18% above last closing price of AU$1.38. Stock is down 30% over the past year. The company is forecast to post earnings per share of AU$0.041 for next year compared to AU$0.036 last year. Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$69.3m to AU$64.2m. EPS estimate also fell from AU$0.05 per share to AU$0.04 per share. Net income forecast to grow 49% next year vs 34% growth forecast for Chemicals industry in Australia. Consensus price target down from AU$1.88 to AU$1.63. Share price rose 8.5% to AU$1.41 over the past week. Reported Earnings • Mar 18
First half 2022 earnings: EPS and revenues miss analyst expectations First half 2022 results: EPS: AU$0.012 (down from AU$0.015 in 1H 2021). Revenue: AU$29.7m (up 1.0% from 1H 2021). Net income: AU$2.01m (down 20% from 1H 2021). Profit margin: 6.8% (down from 8.5% in 1H 2021). Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 19%, compared to a 16% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Buying Opportunity • Mar 09
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be AU$1.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Price Target Changed • Sep 22
Price target decreased to AU$1.88 Down from AU$2.19, the current price target is an average from 2 analysts. New target price is 28% above last closing price of AU$1.47. Stock is down 31% over the past year. Reported Earnings • Sep 21
Full year 2021 earnings released: EPS AU$0.036 (vs AU$0.075 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$60.5m (down 32% from FY 2020). Net income: AU$6.00m (down 52% from FY 2020). Profit margin: 9.9% (down from 14% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 3% per year. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 19% share price gain to AU$1.77, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the Chemicals industry globally. Total returns to shareholders of 21% over the past three years. Executive Departure • May 14
CFO & Company Secretary has left the company On the 6th of May, Paul Sherman's tenure as CFO & Company Secretary ended after 4.4 years in the role. We don't have any record of a personal shareholding under Paul's name. A total of 3 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 17% share price decline to AU$1.53, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 16x in the Chemicals industry globally. Total returns to shareholders of 26% over the past three years. Announcement • Apr 29
Clover Corporation Ltd Announces Payment of Interim Dividend for the Half Year Ended January 31, 2021 Clover Corporation Ltd. announced that the payment of its fiscal year 2021 interim dividend, being 0.5 cents per share fully franked, has now been made. This payment represents an interim dividend of 0.5 cents per share for the half year ended 31 January 2021. This dividend is paid on the shares registered in their name and entitled to participate as at the record date of 8 April 2021. For Australian income tax purposes, this payment is 100% franked at the corporate tax rate of 30%. Major Estimate Revision • Mar 22
Consensus revenue estimates fall to AU$64.5m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from AU$78.0m to AU$64.5m. EPS estimate fell from AU$0.054 to AU$0.043 per share. Net income forecast to shrink 13% next year vs 38% growth forecast for Chemicals industry in Australia . Consensus price target down from AU$2.29 to AU$2.19. Share price rose 31% to AU$1.75 over the past week. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 31% share price gain to AU$1.75, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 18x in the Chemicals industry globally. Total returns to shareholders of 99% over the past three years. Reported Earnings • Mar 18
First half 2021 earnings released: EPS AU$0.015 (vs AU$0.028 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$29.4m (down 22% from 1H 2020). Net income: AU$2.51m (down 46% from 1H 2020). Profit margin: 8.5% (down from 12% in 1H 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 24% per year. Announcement • Mar 17
Clover Corporation Limited Provides Revenue Guidance for the Fiscal Year 2021 Clover Corporation Limited provided revenue guidance for the fiscal year 2021. For the period, the company expects revenue to be in the range of $60 million to $70 million. Announcement • Mar 16
Clover Corporation Limited Declares Dividend for the First Half of 2021, Payable on April 29, 2021 Clover Corporation Limited announced that based on the company's cash position Directors have decided to declare a fully franked final dividend for first half of fiscal 2021 of 0.5 cent per share. Ex-dividend Date is 7 April 2021, Record Date is 8 April 2021, Payment Date is 29 April 2021. Is New 90 Day High Low • Feb 12
New 90-day low: AU$1.40 The company is down 21% from its price of AU$1.77 on 13 November 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.97 per share. Is New 90 Day High Low • Jan 12
New 90-day low: AU$1.48 The company is down 27% from its price of AU$2.02 on 14 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.97 per share. Is New 90 Day High Low • Dec 14
New 90-day low: AU$1.62 The company is down 29% from its price of AU$2.26 on 15 September 2020. The Australian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.98 per share. Recent Insider Transactions • Dec 11
CEO, MD & Director recently sold AU$404k worth of stock On the 9th of December, Peter Davey sold around 227k shares on-market at roughly AU$1.78 per share. This was the largest sale by an insider in the last 3 months. Peter has been a seller over the last 12 months, reducing personal holdings by AU$796k. Valuation Update With 7 Day Price Move • Oct 27
Market pulls back on stock over the past week After last week's 19% share price decline to AU$1.66, the stock is trading at a trailing P/E ratio of 22.1x, down from the previous P/E ratio of 27.2x. This compares to an average P/E of 20x in the Chemicals industry in Australia. Total returns to shareholders over the past three years are 228%. Recent Insider Transactions • Oct 24
Independent Chairman recently bought AU$99k worth of stock On the 22nd of October, Rupert Harrington bought around 57k shares on-market at roughly AU$1.74 per share. This was the largest purchase by an insider in the last 3 months. This was Rupert's only on-market trade for the last 12 months. Major Estimate Revision • Oct 22
Analysts lower revenue estimates to AU$78.0m The 2021 consensus revenue estimate decreased from AU$91.7m. Earning per share (EPS) estimate was also lowered from AU$0.072 to AU$0.054 for the same period. Net income is expected to shrink by 28% next year compared to 27% growth forecast for the Chemicals industry in Australia . The consensus price target was lowered from AU$2.65 to AU$2.29. Share price is down by 13% to AU$1.75 over the past week. Is New 90 Day High Low • Oct 21
New 90-day low: AU$1.75 The company is down 20% from its price of AU$2.20 on 23 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.86 per share. 
