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Market Cap

AU$447.1m

Last Updated

2021/05/13 08:10 UTC

Data Sources

Company Financials +

Executive Summary

MyState Limited, through its subsidiaries, provides a range of financial products and services in Australia. More Details


Snowflake Analysis

Excellent balance sheet average dividend payer.


Similar Companies

Share Price & News

How has MyState's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MYS is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MYS's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

1.9%

MYS

-2.7%

AU Mortgage

-0.7%

AU Market


1 Year Return

30.9%

MYS

42.1%

AU Mortgage

35.4%

AU Market

Return vs Industry: MYS underperformed the Australian Mortgage industry which returned 42.1% over the past year.

Return vs Market: MYS underperformed the Australian Market which returned 35.4% over the past year.


Shareholder returns

MYSIndustryMarket
7 Day1.9%-2.7%-0.7%
30 Day7.2%3.8%0.8%
90 Day-5.3%-3.1%2.5%
1 Year34.2%30.9%44.4%42.1%39.6%35.4%
3 Year15.7%0.4%28.7%4.3%30.2%14.8%
5 Year56.7%20.4%51.3%-4.7%61.7%31.7%

Long-Term Price Volatility Vs. Market

How volatile is MyState's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MyState undervalued compared to its fair value and its price relative to the market?

3.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MYS (A$4.79) is trading below our estimate of fair value (A$4.98)

Significantly Below Fair Value: MYS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MYS is poor value based on its PE Ratio (13.8x) compared to the Australian Mortgage industry average (13.6x).

PE vs Market: MYS is good value based on its PE Ratio (13.8x) compared to the Australian market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: MYS is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: MYS is overvalued based on its PB Ratio (1.3x) compared to the AU Mortgage industry average (1x).


Future Growth

How is MyState forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

7.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MYS's forecast earnings growth (7.8% per year) is above the savings rate (1.9%).

Earnings vs Market: MYS's earnings (7.8% per year) are forecast to grow slower than the Australian market (13.3% per year).

High Growth Earnings: MYS's earnings are forecast to grow, but not significantly.

Revenue vs Market: MYS's revenue (4.2% per year) is forecast to grow slower than the Australian market (4.9% per year).

High Growth Revenue: MYS's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MYS's Return on Equity is forecast to be low in 3 years time (11.3%).


Past Performance

How has MyState performed over the past 5 years?

0.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MYS has a high level of non-cash earnings.

Growing Profit Margin: MYS's current net profit margins (24.5%) are lower than last year (24.7%).


Past Earnings Growth Analysis

Earnings Trend: MYS's earnings have grown by 0.7% per year over the past 5 years.

Accelerating Growth: MYS's earnings growth over the past year (4.6%) exceeds its 5-year average (0.7% per year).

Earnings vs Industry: MYS earnings growth over the past year (4.6%) underperformed the Mortgage industry 15.2%.


Return on Equity

High ROE: MYS's Return on Equity (9.1%) is considered low.


Financial Health

How is MyState's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: MYS's Assets to Equity ratio (17.7x) is moderate.

Allowance for Bad Loans: MYS has a low allowance for bad loans (22%).

Low Risk Liabilities: 78% of MYS's liabilities are made up of primarily low risk sources of funding.

Loan Level: MYS has an appropriate level of Loans to Assets ratio (86%).

Low Risk Deposits: MYS's Loans to Deposits ratio (118%) is appropriate.

Level of Bad Loans: MYS has an appropriate level of bad loans (0.6%).


Dividend

What is MyState current dividend yield, its reliability and sustainability?

5.22%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MYS's dividend (5.22%) is higher than the bottom 25% of dividend payers in the Australian market (2.11%).

High Dividend: MYS's dividend (5.22%) is in the top 25% of dividend payers in the Australian market (5.19%)


Stability and Growth of Payments

Stable Dividend: MYS's dividend payments have been volatile in the past 10 years.

Growing Dividend: MYS's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.9%), MYS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MYS's dividends in 3 years are forecast to be covered by earnings (71.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.4yrs

Average management tenure


CEO

Melos Sulicich

6.83yrs

Tenure

AU$707,744

Compensation

Mr. Melos Anthony Sulicich, BBus(Mktg), GAICD, SA FIN serves as Chief Executive Officer, Managing Director and Executive Director at MyState Bank Limited. Mr. Sulicich serves as the Chief Executive Officer...


CEO Compensation Analysis

Compensation vs Market: Melos's total compensation ($USD547.83K) is about average for companies of similar size in the Australian market ($USD713.55K).

Compensation vs Earnings: Melos's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MYS's management team is seasoned and experienced (5.4 years average tenure).


Board Members

Experienced Board: MYS's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MYS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MyState Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MyState Limited
  • Ticker: MYS
  • Exchange: ASX
  • Founded: 2009
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: AU$447.081m
  • Shares outstanding: 92.37m
  • Website: https://www.mystatelimited.com.au

Location

  • MyState Limited
  • 137 Harrington Street
  • Level 2
  • Hobart
  • Tasmania
  • 7000
  • Australia

Listings


Biography

MyState Limited, through its subsidiaries, provides a range of financial products and services in Australia. It operates in two segments, Banking and Wealth Management. The company offers banking products ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/13 08:10
End of Day Share Price2021/05/13 00:00
Earnings2020/12/31
Annual Earnings2020/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.