View Financial HealthPrim 배당 및 자사주 매입배당 기준 점검 3/6Prim 수익으로 충분히 충당되는 현재 수익률 3.61% 보유한 배당금 지급 회사입니다.핵심 정보3.6%배당 수익률0.2%자사주 매입 수익률총 주주 수익률3.8%미래 배당 수익률6.0%배당 성장률-1.6%다음 배당 지급일n/a배당락일n/a주당 배당금n/a배당 성향33%최근 배당 및 자사주 매입 업데이트Declared Dividend • Feb 26Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 10th March 2026 Payment date: 12th March 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Dec 19Prim (BME:PRM) Has Announced A Dividend Of €0.1053The board of Prim, S.A. ( BME:PRM ) has announced that it will pay a dividend on the 23rd of December, with investors...Declared Dividend • Dec 18Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Jul 07Prim's (BME:PRM) Dividend Will Be Increased To €0.1855Prim, S.A. ( BME:PRM ) has announced that it will be increasing its dividend from last year's comparable payment on the...Declared Dividend • Jul 07Dividend of €0.19 announcedShareholders will receive a dividend of €0.19. Ex-date: 16th July 2025 Payment date: 18th July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Declared Dividend • Mar 03Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 11th March 2025 Payment date: 13th March 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.3% 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 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years.모든 업데이트 보기Recent updates공시 • May 25Prim, S.A., Annual General Meeting, Jun 25, 2026Prim, S.A., Annual General Meeting, Jun 25, 2026. Location: avenida del llano castellano 43, planta 3, fuencarral, madrid., SpainReported Earnings • Mar 30Full year 2025 earnings released: EPS: €0.98 (vs €0.64 in FY 2024)Full year 2025 results: EPS: €0.98 (up from €0.64 in FY 2024). Revenue: €253.6m (up 8.7% from FY 2024). Net income: €16.7m (up 53% from FY 2024). Profit margin: 6.6% (up from 4.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Medical Equipment industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Declared Dividend • Feb 26Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 10th March 2026 Payment date: 12th March 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Board Change • Jan 30Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director María Rodríguez was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.분석 기사 • Dec 19Prim (BME:PRM) Has Announced A Dividend Of €0.1053The board of Prim, S.A. ( BME:PRM ) has announced that it will pay a dividend on the 23rd of December, with investors...Declared Dividend • Dec 18Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Sep 17Prim's (BME:PRM) Solid Profits Have Weak FundamentalsDespite posting some strong earnings, the market for Prim, S.A.'s ( BME:PRM ) stock hasn't moved much. Our analysis...분석 기사 • Jul 07Prim's (BME:PRM) Dividend Will Be Increased To €0.1855Prim, S.A. ( BME:PRM ) has announced that it will be increasing its dividend from last year's comparable payment on the...Declared Dividend • Jul 07Dividend of €0.19 announcedShareholders will receive a dividend of €0.19. Ex-date: 16th July 2025 Payment date: 18th July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • May 28Prim, S.A., Annual General Meeting, Jun 29, 2025Prim, S.A., Annual General Meeting, Jun 29, 2025. Location: avenida del llano castellano 43, planta 3, fuencarral., madrid SpainNew Risk • Apr 13New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue 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 Revenue is less than US$1m. Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • Apr 04Full year 2024 earnings releasedFull year 2024 results: Revenue: €235.0m (up 8.5% from FY 2023). Net income: €10.9m (down 14% from FY 2023). Profit margin: 4.6% (down from 5.9% in FY 2023). The decrease in margin was driven by higher expenses.Declared Dividend • Mar 03Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 11th March 2025 Payment date: 13th March 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.3% 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 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years.Reported Earnings • Sep 30First half 2024 earnings released: EPS: €0.40 (vs €0.47 in 1H 2023)First half 2024 results: EPS: €0.40 (down from €0.47 in 1H 2023). Revenue: €119.7m (up 10% from 1H 2023). Net income: €6.77m (down 16% from 1H 2023). Profit margin: 5.7% (down from 7.4% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year.분석 기사 • Jul 11Prim (BME:PRM) Is Increasing Its Dividend To €0.1838Prim, S.A. ( BME:PRM ) will increase its dividend from last year's comparable payment on the 19th of July to €0.1838...Declared Dividend • Jul 08Dividend of €0.18 announcedShareholders will receive a dividend of €0.18. Ex-date: 17th July 2024 Payment date: 19th July 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.Buy Or Sell Opportunity • Jul 08Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 6.5% to €10.50. The fair value is estimated to be €8.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years, while earnings per share has been flat.Buy Or Sell Opportunity • Jun 04Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.0% to €10.35. The fair value is estimated to be €8.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years, while earnings per share has been flat.분석 기사 • Apr 16Investors Shouldn't Be Too Comfortable With Prim's (BME:PRM) EarningsPrim, S.A.'s ( BME:PRM ) robust earnings report didn't manage to move the market for its stock. Our analysis suggests...Declared Dividend • Mar 08Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 13th March 2024 Payment date: 15th March 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next year, which should provide support to the dividend and adequate earnings cover.New Risk • Feb 11New major risk - Revenue and earnings growthEarnings have declined by 4.0% 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 4.0% 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin).New Risk • Oct 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.0% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (98% cash payout ratio). Share price has been volatile over the past 3 months (4.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin).New Risk • Jun 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 29% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin).Upcoming Dividend • Mar 06Upcoming dividend of €0.089 per share at 4.6% yieldEligible shareholders must have bought the stock before 13 March 2023. Payment date: 16 March 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Spanish dividend payers (6.1%). Higher than average of industry peers (1.8%).Reported Earnings • Mar 02Full year 2022 earnings released: EPS: €0.50 (vs €1.01 in FY 2021)Full year 2022 results: EPS: €0.50 (down from €1.01 in FY 2021). Revenue: €197.2m (up 17% from FY 2021). Net income: €8.45m (down 52% from FY 2021). Profit margin: 4.3% (down from 10% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Upcoming Dividend • Dec 20Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 27 December 2022. Payment date: 29 December 2022. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Spanish dividend payers (6.1%). Higher than average of industry peers (1.7%).Board Change • Nov 16Less than half of directors are independentThere are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Maria Belen Amatriain Corbi is the most experienced director on the board, commencing their role in 2015. Independent Director Mar Mateo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Board Change • Apr 27Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Maria Belen Amatriain Corbi was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.분석 기사 • Apr 02Here's What To Make Of Prim's (BME:PRM) Decelerating Rates Of ReturnIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Upcoming Dividend • Mar 02Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 09 March 2022. Payment date: 11 March 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Spanish dividend payers (5.6%). Higher than average of industry peers (1.2%).Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.01 (up from €0.40 in FY 2020). Revenue: €168.5m (up 14% from FY 2020). Net income: €17.4m (up 152% from FY 2020). Profit margin: 10% (up from 4.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 17% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year.Upcoming Dividend • Dec 08Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 14 December 2021. Payment date: 16 December 2021. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Spanish dividend payers (5.4%). Higher than average of industry peers (1.0%).Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS €0.27 (vs €0.059 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €44.5m (up 51% from 2Q 2020). Net income: €4.54m (up 338% from 2Q 2020). Profit margin: 10% (up from 3.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.분석 기사 • May 25Does Prim (BME:PRM) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • May 07Returns On Capital At Prim (BME:PRM) Have StalledIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Reported Earnings • Apr 28Full year 2020 earnings released: EPS €0.40 (vs €0.65 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €147.3m (down 2.4% from FY 2019). Net income: €6.92m (down 38% from FY 2019). Profit margin: 4.7% (down from 7.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.분석 기사 • Mar 06Did You Participate In Any Of Prim's (BME:PRM) Respectable 40% Return?Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...Reported Earnings • Mar 02Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €147.3m (down 2.4% from FY 2019). Net income: €6.92m (down 38% from FY 2019). Profit margin: 4.7% (down from 7.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Feb 25New 90-day high: €10.60The company is up 15% from its price of €9.20 on 27 November 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 11% over the same period.분석 기사 • Feb 19Is Prim (BME:PRM) A Risky Investment?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Is New 90 Day High Low • Feb 06New 90-day high: €9.94The company is up 10.0% from its price of €9.04 on 06 November 2020. The Spanish market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 13% over the same period.분석 기사 • Feb 01Should You Buy Prim, S.A. (BME:PRM) For Its Dividend?Is Prim, S.A. ( BME:PRM ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...분석 기사 • Jan 16What Do The Returns On Capital At Prim (BME:PRM) Tell Us?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...분석 기사 • Jan 01Is Prim, S.A.'s (BME:PRM) Recent Stock Performance Influenced By Its Financials In Any Way?Most readers would already know that Prim's (BME:PRM) stock increased by 6.6% over the past three months. Given that...Is New 90 Day High Low • Dec 31New 90-day high: €9.70The company is up 7.0% from its price of €9.10 on 02 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Medical Equipment industry, which is also up 7.0% over the same period.분석 기사 • Dec 16What Percentage Of Prim, S.A. (BME:PRM) Shares Do Insiders Own?A look at the shareholders of Prim, S.A. ( BME:PRM ) can tell us which group is most powerful. Institutions will often...분석 기사 • Nov 25Prim's(BME:PRM) Share Price Is Down 19% Over The Past Year.Investors can approximate the average market return by buying an index fund. While individual stocks can be big...Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS €0.15The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €37.0m (up 11% from 3Q 2019). Net income: €2.58m (up 87% from 3Q 2019). Profit margin: 7.0% (up from 4.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Nov 12New 90-day high: €9.68The company is up 5.0% from its price of €9.18 on 14 August 2020. The Spanish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Medical Equipment industry, which is up 2.0% over the same period.Is New 90 Day High Low • Oct 19New 90-day low: €8.86The company is down 11% from its price of €9.90 on 21 July 2020. The Spanish market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is flat over the same period.분석 기사 • Jun 17Prim, S.A.'s (BME:PRM) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?Prim (BME:PRM) has had a great run on the share market with its stock up by a significant 11% over the last three...지급의 안정성과 성장배당 데이터 가져오는 중안정적인 배당: PRM 의 배당금 지급은 지난 10 년 동안 휘발성이었습니다.배당금 증가: PRM 의 배당금 지급액은 지난 10 년 동안 감소했습니다.배당 수익률 vs 시장Prim 배당 수익률 vs 시장PRM의 배당 수익률은 시장과 어떻게 비교되나요?구분배당 수익률회사 (PRM)3.6%시장 하위 25% (ES)1.8%시장 상위 25% (ES)5.5%업계 평균 (Medical Equipment)2.3%분석가 예측 (PRM) (최대 3년)6.0%주목할만한 배당금: PRM 의 배당금( 3.61% )은 Spanish 시장에서 배당금 지급자의 하위 25%( 1.78% )보다 높습니다.고배당: PRM 의 배당금( 3.61% )은 Spanish 시장에서 배당금 지급자의 상위 25%( 5.48% )와 비교해 낮습니다.주주 대상 이익 배당수익 보장: 합리적으로 낮은 지불 비율 ( 32.6% )로 PRM 의 배당금 지급은 수익으로 충분히 충당됩니다.주주 현금 배당현금 흐름 범위: 합리적으로 낮은 현금 지급 비율 ( 44% )로 PRM 의 배당금 지급은 현금 흐름으로 잘 충당됩니다.높은 배당을 제공하는 우량 기업 찾기7D1Y7D1Y7D1YES 시장에서 배당이 강한 기업.View Management기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/26 18:26종가2026/05/26 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Prim, S.A.는 1명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Marisa Luisa Mazo FajardoGVC Gaesco Valores
Declared Dividend • Feb 26Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 10th March 2026 Payment date: 12th March 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Dec 19Prim (BME:PRM) Has Announced A Dividend Of €0.1053The board of Prim, S.A. ( BME:PRM ) has announced that it will pay a dividend on the 23rd of December, with investors...
Declared Dividend • Dec 18Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Jul 07Prim's (BME:PRM) Dividend Will Be Increased To €0.1855Prim, S.A. ( BME:PRM ) has announced that it will be increasing its dividend from last year's comparable payment on the...
Declared Dividend • Jul 07Dividend of €0.19 announcedShareholders will receive a dividend of €0.19. Ex-date: 16th July 2025 Payment date: 18th July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Declared Dividend • Mar 03Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 11th March 2025 Payment date: 13th March 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.3% 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 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years.
공시 • May 25Prim, S.A., Annual General Meeting, Jun 25, 2026Prim, S.A., Annual General Meeting, Jun 25, 2026. Location: avenida del llano castellano 43, planta 3, fuencarral, madrid., Spain
Reported Earnings • Mar 30Full year 2025 earnings released: EPS: €0.98 (vs €0.64 in FY 2024)Full year 2025 results: EPS: €0.98 (up from €0.64 in FY 2024). Revenue: €253.6m (up 8.7% from FY 2024). Net income: €16.7m (up 53% from FY 2024). Profit margin: 6.6% (up from 4.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Medical Equipment industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Feb 26Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 10th March 2026 Payment date: 12th March 2026 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Board Change • Jan 30Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director María Rodríguez was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
분석 기사 • Dec 19Prim (BME:PRM) Has Announced A Dividend Of €0.1053The board of Prim, S.A. ( BME:PRM ) has announced that it will pay a dividend on the 23rd of December, with investors...
Declared Dividend • Dec 18Dividend of €0.11 announcedShareholders will receive a dividend of €0.11. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 2.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Sep 17Prim's (BME:PRM) Solid Profits Have Weak FundamentalsDespite posting some strong earnings, the market for Prim, S.A.'s ( BME:PRM ) stock hasn't moved much. Our analysis...
분석 기사 • Jul 07Prim's (BME:PRM) Dividend Will Be Increased To €0.1855Prim, S.A. ( BME:PRM ) has announced that it will be increasing its dividend from last year's comparable payment on the...
Declared Dividend • Jul 07Dividend of €0.19 announcedShareholders will receive a dividend of €0.19. Ex-date: 16th July 2025 Payment date: 18th July 2025 Dividend yield will be 3.1%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (42% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 8.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • May 28Prim, S.A., Annual General Meeting, Jun 29, 2025Prim, S.A., Annual General Meeting, Jun 29, 2025. Location: avenida del llano castellano 43, planta 3, fuencarral., madrid Spain
New Risk • Apr 13New major risk - Revenue sizeThe company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue 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 Revenue is less than US$1m. Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • Apr 04Full year 2024 earnings releasedFull year 2024 results: Revenue: €235.0m (up 8.5% from FY 2023). Net income: €10.9m (down 14% from FY 2023). Profit margin: 4.6% (down from 5.9% in FY 2023). The decrease in margin was driven by higher expenses.
Declared Dividend • Mar 03Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 11th March 2025 Payment date: 13th March 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.3% 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 26% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years.
Reported Earnings • Sep 30First half 2024 earnings released: EPS: €0.40 (vs €0.47 in 1H 2023)First half 2024 results: EPS: €0.40 (down from €0.47 in 1H 2023). Revenue: €119.7m (up 10% from 1H 2023). Net income: €6.77m (down 16% from 1H 2023). Profit margin: 5.7% (down from 7.4% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year.
분석 기사 • Jul 11Prim (BME:PRM) Is Increasing Its Dividend To €0.1838Prim, S.A. ( BME:PRM ) will increase its dividend from last year's comparable payment on the 19th of July to €0.1838...
Declared Dividend • Jul 08Dividend of €0.18 announcedShareholders will receive a dividend of €0.18. Ex-date: 17th July 2024 Payment date: 19th July 2024 Dividend yield will be 3.4%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend.
Buy Or Sell Opportunity • Jul 08Now 23% overvalued after recent price riseOver the last 90 days, the stock has risen 6.5% to €10.50. The fair value is estimated to be €8.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years, while earnings per share has been flat.
Buy Or Sell Opportunity • Jun 04Now 20% overvalued after recent price riseOver the last 90 days, the stock has risen 2.0% to €10.35. The fair value is estimated to be €8.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years, while earnings per share has been flat.
분석 기사 • Apr 16Investors Shouldn't Be Too Comfortable With Prim's (BME:PRM) EarningsPrim, S.A.'s ( BME:PRM ) robust earnings report didn't manage to move the market for its stock. Our analysis suggests...
Declared Dividend • Mar 08Dividend of €0.089 announcedShareholders will receive a dividend of €0.089. Ex-date: 13th March 2024 Payment date: 15th March 2024 Dividend yield will be 2.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next year, which should provide support to the dividend and adequate earnings cover.
New Risk • Feb 11New major risk - Revenue and earnings growthEarnings have declined by 4.0% 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 4.0% 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin).
New Risk • Oct 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.0% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (98% cash payout ratio). Share price has been volatile over the past 3 months (4.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.7% net profit margin).
New Risk • Jun 30New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 29% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin).
Upcoming Dividend • Mar 06Upcoming dividend of €0.089 per share at 4.6% yieldEligible shareholders must have bought the stock before 13 March 2023. Payment date: 16 March 2023. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Spanish dividend payers (6.1%). Higher than average of industry peers (1.8%).
Reported Earnings • Mar 02Full year 2022 earnings released: EPS: €0.50 (vs €1.01 in FY 2021)Full year 2022 results: EPS: €0.50 (down from €1.01 in FY 2021). Revenue: €197.2m (up 17% from FY 2021). Net income: €8.45m (down 52% from FY 2021). Profit margin: 4.3% (down from 10% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Upcoming Dividend • Dec 20Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 27 December 2022. Payment date: 29 December 2022. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Spanish dividend payers (6.1%). Higher than average of industry peers (1.7%).
Board Change • Nov 16Less than half of directors are independentThere are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Maria Belen Amatriain Corbi is the most experienced director on the board, commencing their role in 2015. Independent Director Mar Mateo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Board Change • Apr 27Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Maria Belen Amatriain Corbi was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.
분석 기사 • Apr 02Here's What To Make Of Prim's (BME:PRM) Decelerating Rates Of ReturnIf we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Upcoming Dividend • Mar 02Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 09 March 2022. Payment date: 11 March 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Spanish dividend payers (5.6%). Higher than average of industry peers (1.2%).
Reported Earnings • Feb 27Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.01 (up from €0.40 in FY 2020). Revenue: €168.5m (up 14% from FY 2020). Net income: €17.4m (up 152% from FY 2020). Profit margin: 10% (up from 4.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 17% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 8% per year.
Upcoming Dividend • Dec 08Upcoming dividend of €0.089 per shareEligible shareholders must have bought the stock before 14 December 2021. Payment date: 16 December 2021. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of Spanish dividend payers (5.4%). Higher than average of industry peers (1.0%).
Reported Earnings • Aug 04Second quarter 2021 earnings released: EPS €0.27 (vs €0.059 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €44.5m (up 51% from 2Q 2020). Net income: €4.54m (up 338% from 2Q 2020). Profit margin: 10% (up from 3.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
분석 기사 • May 25Does Prim (BME:PRM) Have A Healthy Balance Sheet?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • May 07Returns On Capital At Prim (BME:PRM) Have StalledIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Reported Earnings • Apr 28Full year 2020 earnings released: EPS €0.40 (vs €0.65 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €147.3m (down 2.4% from FY 2019). Net income: €6.92m (down 38% from FY 2019). Profit margin: 4.7% (down from 7.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
분석 기사 • Mar 06Did You Participate In Any Of Prim's (BME:PRM) Respectable 40% Return?Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...
Reported Earnings • Mar 02Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €147.3m (down 2.4% from FY 2019). Net income: €6.92m (down 38% from FY 2019). Profit margin: 4.7% (down from 7.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Feb 25New 90-day high: €10.60The company is up 15% from its price of €9.20 on 27 November 2020. The Spanish market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 11% over the same period.
분석 기사 • Feb 19Is Prim (BME:PRM) A Risky Investment?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Is New 90 Day High Low • Feb 06New 90-day high: €9.94The company is up 10.0% from its price of €9.04 on 06 November 2020. The Spanish market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 13% over the same period.
분석 기사 • Feb 01Should You Buy Prim, S.A. (BME:PRM) For Its Dividend?Is Prim, S.A. ( BME:PRM ) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can...
분석 기사 • Jan 16What Do The Returns On Capital At Prim (BME:PRM) Tell Us?If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...
분석 기사 • Jan 01Is Prim, S.A.'s (BME:PRM) Recent Stock Performance Influenced By Its Financials In Any Way?Most readers would already know that Prim's (BME:PRM) stock increased by 6.6% over the past three months. Given that...
Is New 90 Day High Low • Dec 31New 90-day high: €9.70The company is up 7.0% from its price of €9.10 on 02 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Medical Equipment industry, which is also up 7.0% over the same period.
분석 기사 • Dec 16What Percentage Of Prim, S.A. (BME:PRM) Shares Do Insiders Own?A look at the shareholders of Prim, S.A. ( BME:PRM ) can tell us which group is most powerful. Institutions will often...
분석 기사 • Nov 25Prim's(BME:PRM) Share Price Is Down 19% Over The Past Year.Investors can approximate the average market return by buying an index fund. While individual stocks can be big...
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS €0.15The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €37.0m (up 11% from 3Q 2019). Net income: €2.58m (up 87% from 3Q 2019). Profit margin: 7.0% (up from 4.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Nov 12New 90-day high: €9.68The company is up 5.0% from its price of €9.18 on 14 August 2020. The Spanish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Medical Equipment industry, which is up 2.0% over the same period.
Is New 90 Day High Low • Oct 19New 90-day low: €8.86The company is down 11% from its price of €9.90 on 21 July 2020. The Spanish market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is flat over the same period.
분석 기사 • Jun 17Prim, S.A.'s (BME:PRM) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?Prim (BME:PRM) has had a great run on the share market with its stock up by a significant 11% over the last three...