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Metro Performance Glass

ASX:MPP
Snowflake Description

Undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MPP
ASX
NZ$72M
Market Cap
  1. Home
  2. AU
  3. Capital Goods
Company description

Metro Performance Glass Limited, together with its subsidiaries, supplies processed flat glass and related products for the residential and commercial building sectors in New Zealand and Australia. The last earnings update was 58 days ago. More info.


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MPP Share Price and Events
7 Day Returns
0%
ASX:MPP
0.2%
Oceania Building
0%
AU Market
1 Year Returns
-52.3%
ASX:MPP
-32.2%
Oceania Building
4.8%
AU Market
MPP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Metro Performance Glass (MPP) 0% 2.8% -5.1% -52.3% -78.2% -
Oceania Building 0.2% -0.2% 2.3% -32.2% 8.6% 34.6%
AU Market 0% 0.9% 6.8% 4.8% 20.1% 12.2%
1 Year Return vs Industry and Market
  • MPP underperformed the Building industry which returned -32.2% over the past year.
  • MPP underperformed the Market in Australia which returned 4.8% over the past year.
Price Volatility
MPP
Industry
5yr Volatility vs Market
Related Companies

MPP Value

 Is Metro Performance Glass undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Metro Performance Glass to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Metro Performance Glass.

ASX:MPP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.8%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:MPP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Building Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.131 (1 + (1- 28%) (124.57%))
1.767
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.77
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.767 * 5.96%)
12.84%

Discounted Cash Flow Calculation for ASX:MPP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Metro Performance Glass is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:MPP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 12.84%)
2020 20.00 Analyst x1 17.72
2021 21.00 Analyst x1 16.49
2022 20.00 Analyst x1 13.92
2023 19.46 Est @ -2.72% 12.00
2024 19.22 Est @ -1.21% 10.50
2025 19.19 Est @ -0.16% 9.29
2026 19.30 Est @ 0.58% 8.28
2027 19.51 Est @ 1.1% 7.42
2028 19.80 Est @ 1.47% 6.67
2029 20.14 Est @ 1.72% 6.02
Present value of next 10 years cash flows NZ$108.33
ASX:MPP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NZ$20.14 × (1 + 2.31%) ÷ (12.84% – 2.31%)
NZ$195.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$195.66 ÷ (1 + 12.84%)10
NZ$58.44
ASX:MPP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$108.33 + NZ$58.44
NZ$166.77
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$166.77 / 185.38
NZ$0.9
ASX:MPP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in ASX:MPP represents 0.94872x of NZSE:MPG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.94872x
Value per Share
(Listing Adjusted, AUD)
= Value per Share (NZD) x Listing Adjustment Factor
= NZ$ 0.90 x 0.94872
A$0.85
Value per share (AUD) From above. A$0.85
Current discount Discount to share price of A$0.37
= -1 x (A$0.37 - A$0.85) / A$0.85
56.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Metro Performance Glass is available for.
Intrinsic value
>50%
Share price is A$0.37 vs Future cash flow value of A$0.85347
Current Discount Checks
For Metro Performance Glass to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Metro Performance Glass's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Metro Performance Glass's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Metro Performance Glass's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Metro Performance Glass's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:MPP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in NZD NZ$0.03
NZSE:MPG Share Price ** NZSE (2019-07-11) in NZD NZ$0.39
Oceania Building Industry PE Ratio Median Figure of 5 Publicly-Listed Building Companies 18.6x
Australia Market PE Ratio Median Figure of 546 Publicly-Listed Companies 16.1x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Metro Performance Glass.

ASX:MPP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NZSE:MPG Share Price ÷ EPS (both in NZD)

= 0.39 ÷ 0.03

14.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Metro Performance Glass is good value based on earnings compared to the Oceania Building industry average.
  • Metro Performance Glass is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Metro Performance Glass's expected growth come at a high price?
Raw Data
ASX:MPP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
12.5%per year
Global Building Industry PEG Ratio Median Figure of 78 Publicly-Listed Building Companies 1.21x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

ASX:MPP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.34x ÷ 12.5%

1.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Metro Performance Glass is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Metro Performance Glass's assets?
Raw Data
ASX:MPP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in NZD NZ$0.85
NZSE:MPG Share Price * NZSE (2019-07-11) in NZD NZ$0.39
Oceania Building Industry PB Ratio Median Figure of 5 Publicly-Listed Building Companies 2.06x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.7x
ASX:MPP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:MPG Share Price ÷ Book Value per Share (both in NZD)

= 0.39 ÷ 0.85

0.46x

* Primary Listing of Metro Performance Glass.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Metro Performance Glass is good value based on assets compared to the Oceania Building industry average.
X
Value checks
We assess Metro Performance Glass's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Building industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Building industry average (and greater than 0)? (1 check)
  5. Metro Performance Glass has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MPP Future Performance

 How is Metro Performance Glass expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Metro Performance Glass expected to grow at an attractive rate?
  • Metro Performance Glass's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Metro Performance Glass's earnings growth is expected to exceed the Australia market average.
  • Metro Performance Glass's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:MPP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:MPP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 12.5%
ASX:MPP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts -1.5%
Oceania Building Industry Earnings Growth Rate Market Cap Weighted Average 10%
Global Building Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.4%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:MPP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:MPP Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 257 30 11 5
2021-03-31 263 32 14 5
2020-03-31 270 30 15 5
ASX:MPP Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2019-03-31 268 24 5
2018-12-31 267 9
2018-09-30 267 25 14
2018-06-30 268 30 15
2018-03-31 268 34 16
2017-12-31 269 18
2017-09-30 270 30 20
2017-06-30 257 24 19
2017-03-31 244 18 19
2016-12-31 227 21 20
2016-09-30 209 24 21
2016-06-30 199 26 21

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Metro Performance Glass's earnings are expected to grow by 12.5% yearly, however this is not considered high growth (20% yearly).
  • Metro Performance Glass's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:MPP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Metro Performance Glass Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MPP Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 0.06 0.08 0.05 4.00
2021-03-31 0.07 0.10 0.05 5.00
2020-03-31 0.08 0.09 0.07 5.00
ASX:MPP Past Financials Data
Date (Data in NZD Millions) EPS *
2019-03-31 0.03
2018-12-31 0.05
2018-09-30 0.07
2018-06-30 0.08
2018-03-31 0.09
2017-12-31 0.10
2017-09-30 0.11
2017-06-30 0.11
2017-03-31 0.10
2016-12-31 0.11
2016-09-30 0.11
2016-06-30 0.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Metro Performance Glass is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Metro Performance Glass's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Oceania market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Metro Performance Glass has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MPP Past Performance

  How has Metro Performance Glass performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Metro Performance Glass's growth in the last year to its industry (Building).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Metro Performance Glass's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Metro Performance Glass's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Metro Performance Glass's 1-year earnings growth is negative, it can't be compared to the Oceania Building industry average.
Earnings and Revenue History
Metro Performance Glass's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Metro Performance Glass Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MPP Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 267.84 5.04 96.08
2018-12-31 267.47 9.34 95.08
2018-09-30 267.11 13.64 88.80
2018-06-30 267.70 14.96 87.52
2018-03-31 268.29 16.28 91.53
2017-12-31 269.02 17.93 88.51
2017-09-30 269.74 19.59 85.48
2017-06-30 257.03 19.48 83.39
2017-03-31 244.32 19.37 81.30
2016-12-31 226.89 20.23 78.39
2016-09-30 209.46 21.09 75.48
2016-06-30 198.75 20.79 71.33
2016-03-31 188.04 20.50 67.19
2015-03-31 172.50 14.34 61.08
2014-03-31 155.37 11.95 54.17
2013-03-31 135.61 8.26 48.79

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Metro Performance Glass has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Metro Performance Glass used its assets less efficiently than the Oceania Building industry average last year based on Return on Assets.
  • Metro Performance Glass's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Metro Performance Glass's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Building industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Metro Performance Glass has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MPP Health

 How is Metro Performance Glass's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Metro Performance Glass's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Metro Performance Glass is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Metro Performance Glass's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Metro Performance Glass's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Metro Performance Glass Company Filings, last reported 3 months ago.

ASX:MPP Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 156.96 90.06 5.49
2018-12-31 156.96 90.06 5.49
2018-09-30 162.84 97.94 2.71
2018-06-30 162.84 97.94 2.71
2018-03-31 160.34 95.61 0.36
2017-12-31 160.34 95.61 0.36
2017-09-30 161.66 94.78
2017-06-30 161.66 94.78
2017-03-31 156.50 97.01 1.62
2016-12-31 156.50 97.01 1.62
2016-09-30 152.39 98.95 3.50
2016-06-30 152.39 98.95 3.50
2016-03-31 148.63 51.30 6.40
2015-03-31 142.68 55.72 7.61
2014-03-31 119.03 64.00 9.95
2013-03-31 107.55 70.00 7.97
  • Metro Performance Glass's level of debt (57.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (53.7% vs 57.4% today).
  • Debt is well covered by operating cash flow (26.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess Metro Performance Glass's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Metro Performance Glass has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MPP Dividends

 What is Metro Performance Glass's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Metro Performance Glass dividends. Estimated to be 5.22% next year.
If you bought A$2,000 of Metro Performance Glass shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Metro Performance Glass's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Metro Performance Glass's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:MPP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Global Building Industry Average Dividend Yield Market Cap Weighted Average of 100 Stocks 2.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.4%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:MPP Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.03 5.00
2021-03-31 0.02 5.00
2020-03-31 0.01 5.00
ASX:MPP Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.000 0.000
2018-11-26 0.000 0.000
2018-05-23 0.074 8.796
2017-05-25 0.076 7.590
2016-11-21 0.076 4.844
2016-05-25 0.080 4.038
2015-11-23 0.072 4.339

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Metro Performance Glass has not reported any payouts.
  • Unable to verify if Metro Performance Glass's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Metro Performance Glass's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Metro Performance Glass has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Metro Performance Glass's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Metro Performance Glass afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Metro Performance Glass has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MPP Management

 What is the CEO of Metro Performance Glass's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Simon Mander
TENURE AS CEO 0.7 years
CEO Bio

Mr. Simon J. Mander has been the Chief Executive Officer at Metro Performance Glass Limited since November 19, 2018. Mr. Mander served as Planning Director at Lion Breweries New Zealand for 2 years as and Strategy Management Consultant at McKinsey & Company for 4 years. Mr. Mander has broad leadership experience at senior levels across industries ranging from ag-tech, building products, flexible and fibre based packaging. During his career he has specialised in performance improvement, strategy development and execution. He has worked internationally in a number of industries and has recent experience in the New Zealand and Australian building products market. He served as the Chief Executive Officer of Tru-Test Corporation Ltd. He worked with companies such as Fletcher Building, DS Smith, Carter Holt Harvey, Partnersin Performance, Lion Nathan and McKinsey. He served as an Independent Director at Wellington Drive Technologies Ltd. from June 2004 to December 31, 2014. Mr. Mander is a professionally qualified Mechanical Engineer. He has a trade background in aircraft engineering and holds a Bachelor of Engineering (Mech) from Auckland University. He also represented New Zealand in yachting on a number of occasions including in the International 470 class at the 1988 Olympic Games.

CEO Compensation
  • Insufficient data for Simon to compare compensation growth.
  • Insufficient data for Simon to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure

Average tenure of the Metro Performance Glass management team in years:

4.2
Average Tenure
  • The tenure for the Metro Performance Glass management team is about average.
Management Team

Simon Mander

TITLE
Chief Executive Officer
TENURE
0.7 yrs

John Fraser-Mackenzie

TITLE
Chief Financial Officer
TENURE
4.2 yrs

Andrew Paterson

TITLE
Investor Relations Manager & Company Secretary

Dayna Saunders

TITLE
Human Resources Director
TENURE
4.7 yrs
Board of Directors Tenure

Average tenure of the Metro Performance Glass board of directors in years:

3
Average Tenure
  • The average tenure for the Metro Performance Glass board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Griffiths

TITLE
Independent Non-Executive Chair
COMPENSATION
NZ$106K
TENURE
1.7 yrs

Bill Roest

TITLE
Independent Non-Executive Director
COMPENSATION
NZ$92K
AGE
71
TENURE
5 yrs

Angela Bull

TITLE
Independent Non Executive Director
COMPENSATION
NZ$76K
TENURE
2.2 yrs

Russell Chenu

TITLE
Independent Non-Executive Director
COMPENSATION
NZ$100K
AGE
67
TENURE
5 yrs

Gordon Buswell

TITLE
Independent Non-Executive Director
COMPENSATION
NZ$85K
TENURE
3.8 yrs

Rhys Jones

TITLE
Independent Non-Executive Director
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
09. Apr 19 Buy MLC Investment Management Limited Company 02. Apr 19 02. Apr 19 43,993 A$0.43 A$18,773
26. Mar 19 Buy MLC Investment Management Limited Company 11. Feb 19 21. Mar 19 965,001 A$0.49 A$470,207
05. Feb 19 Sell JB Were Company 30. Jan 19 30. Jan 19 -1,017,450 A$0.47 A$-473,880
05. Feb 19 Sell MLC Investment Management Limited Company 21. Dec 18 21. Dec 18 -19,358 A$0.54 A$-10,410
05. Feb 19 Buy MLC Investment Management Limited Company 06. Dec 18 06. Dec 18 16,538 A$0.51 A$8,419
31. Jan 19 Buy Accident Compensation Corporation, Asset Management Arm Company 17. Dec 18 30. Jan 19 400,000 A$0.47 A$186,301
X
Management checks
We assess Metro Performance Glass's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Metro Performance Glass has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MPP News

Simply Wall St News

MPP Company Info

Description

Metro Performance Glass Limited, together with its subsidiaries, supplies processed flat glass and related products for the residential and commercial building sectors in New Zealand and Australia. Its glass products include splash backs, benchtops, and kitchen doors and mirrors; and mirrors, inline showers, two and three sided showers, bath end showers, bath screens, and shower and screen hardware. The company also offers balustrades, stairs, room dividers, doors, mirrors, furniture, and balustrade and door hardware; and exterior balustrades, pool fences, wind breaks, glass canopies, glass features, outdoor furniture, and balustrade and pool fence hardware. In addition, it provides installation services. Metro Performance Glass Limited was founded in 1987 and is headquartered in Auckland, New Zealand.

Details
Name: Metro Performance Glass Limited
MPP
Exchange: ASX
Founded: 1987
NZ$69,463,315
185,378,086
Website: http://www.metroglass.co.nz
Address: Metro Performance Glass Limited
5 Lady Fisher Place,
Highbrook,
Auckland,
2013,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE MPG Ordinary Shares New Zealand Stock Exchange NZ NZD 30. Jul 2014
ASX MPP Ordinary Shares Australian Securities Exchange AU AUD 30. Jul 2014
CHIA MPP Ordinary Shares Chi-X Australia AU AUD 30. Jul 2014
Number of employees
Current staff
Staff numbers
0
Metro Performance Glass employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 10:38
End of day share price update: 2019/07/11 00:00
Last estimates confirmation: 2019/05/27
Last earnings filing: 2019/05/23
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.