Brambles
Brambles Limited provides supply-chain logistics solutions based on the provision of reusable pallets, crates, and containers for shared use by various participants in the supply chain. The last earnings update was 95 days ago. More info.
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BXB Share Price and Events
7 Day Returns
1 Year Returns
BXB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Brambles (BXB) | -0.9% | 4.1% | 6.9% | 36.1% | -4.6% | 29% |
| AU Commercial Services | 0.9% | 3.8% | 8.1% | 19.6% | 17.8% | 38.5% |
| AU Market | 3.5% | 3.6% | 5.5% | 5.6% | 20.1% | 9.4% |
1 Year Return vs Industry and Market
- BXB outperformed the Commercial Services industry which returned 19.6% over the past year.
- BXB outperformed the Market in Australia which returned 5.6% over the past year.
BXB Value
Is Brambles 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
Brambles
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Brambles.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 8 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year AU Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| Commercial Services Unlevered Beta | Simply Wall St/ S&P Global | 0.72 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.719 (1 + (1- 30%) (19.18%)) |
0.877 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.88 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.877 * 5.96%) |
7.54% |
Discounted Cash Flow Calculation for ASX:BXB using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Brambles 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 7.54%) |
|
|---|---|---|---|
| 2019 | 348.30 | Analyst x2 | 323.89 |
| 2020 | 291.50 | Analyst x2 | 252.07 |
| 2021 | 490.50 | Analyst x2 | 394.43 |
| 2022 | 600.03 | Est @ 22.33% | 448.70 |
| 2023 | 697.99 | Est @ 16.33% | 485.37 |
| 2024 | 782.59 | Est @ 12.12% | 506.06 |
| 2025 | 854.42 | Est @ 9.18% | 513.79 |
| 2026 | 915.24 | Est @ 7.12% | 511.79 |
| 2027 | 967.20 | Est @ 5.68% | 502.94 |
| 2028 | 1,012.34 | Est @ 4.67% | 489.52 |
| Present value of next 10 years cash flows | $4,428.54 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $1,012.34 × (1 + 2.31%) ÷ (7.54% – 2.31%) |
$19,824.88 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $19,824.88 ÷ (1 + 7.54%)10 |
$9,586.34 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $4,428.54 + $9,586.34 |
$14,014.89 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $14,014.89 / 1,594.72 |
$8.79 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/AUD
(Reporting currency to currency of ASX:BXB) |
1.454 |
| Value per Share (AUD) |
= Value per Share in USD x Exchange Rate (USD/AUD)
= $8.79 x 1.454 |
A$12.78 |
| Value per share (AUD) | From above. | A$12.78 |
| Current discount | Discount to share price of
A$12.40
= -1 x (A$12.40 - A$12.78) / A$12.78 |
3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Brambles's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Brambles's share price is below the future cash flow value, but not 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 Brambles's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Brambles's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.41 |
| ASX:BXB Share Price ** | ASX (2019-05-23) in AUD | A$12.4 |
| ASX:BXB Share Price converted to USD reporting currency | Exchange rate (AUD/ USD) 0.688 | $8.53 |
| Australia Commercial Services Industry PE Ratio | Median Figure of 13 Publicly-Listed Commercial Services Companies | 22.49x |
| Australia Market PE Ratio | Median Figure of 542 Publicly-Listed Companies | 16.13x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Brambles.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ASX:BXB Share Price ÷ EPS (both in USD) = 8.53 ÷ 0.41 |
20.73x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Brambles is good value based on earnings compared to the AU Commercial Services industry average.
- Brambles is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does
Brambles's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.73x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts |
6%per year |
| Australia Commercial Services Industry PEG Ratio | Median Figure of 10 Publicly-Listed Commercial Services Companies | 1.83x |
| Australia Market PEG Ratio | Median Figure of 359 Publicly-Listed Companies | 1.45x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 20.73x ÷ 6% |
3.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Brambles is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Brambles's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $1.80 |
| ASX:BXB Share Price * | ASX (2019-05-23) in AUD | A$12.4 |
| ASX:BXB Share Price converted to USD reporting currency | Exchange rate (AUD/ USD) 0.688 | $8.53 |
| Australia Commercial Services Industry PB Ratio | Median Figure of 26 Publicly-Listed Commercial Services Companies | 3.28x |
| Australia Market PB Ratio | Median Figure of 1,680 Publicly-Listed Companies | 1.65x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ASX:BXB Share Price ÷ Book Value per Share (both in USD) = 8.53 ÷ 1.80 |
4.75x |
* Primary Listing of Brambles.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Brambles is overvalued based on assets compared to the AU Commercial Services industry average.
Value checks
We assess Brambles's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check) Brambles has a total score of 1/6, 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.
BXB Future Performance
How is Brambles expected to perform in the next 1 to 3 years based on estimates from 8 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!
Earnings growth vs Low Risk Savings
- Brambles's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Brambles's earnings growth is positive but not above the Australia market average.
- Brambles's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ASX:BXB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts | 6% |
| ASX:BXB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts | -2.5% |
| Australia Commercial Services Industry Earnings Growth Rate | Market Cap Weighted Average | 8.6% |
| Australia Commercial Services Industry Revenue Growth Rate | Market Cap Weighted Average | 2.7% |
| Australia Market Earnings Growth Rate | Market Cap Weighted Average | 7% |
| Australia Market Revenue Growth Rate | Market Cap Weighted Average | 3.2% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | 5,636 | 1,632 | 831 | 1 |
| 2022-06-30 | 5,431 | 1,559 | 786 | 1 |
| 2021-06-30 | 5,196 | 1,410 | 682 | 5 |
| 2020-06-30 | 4,907 | 1,234 | 621 | 6 |
| 2019-06-30 | 5,760 | 1,308 | 629 | 8 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 5,862 | 1,410 | 655 |
| 2018-09-30 | 5,810 | 1,417 | 714 |
| 2018-06-30 | 5,758 | 1,423 | 774 |
| 2017-12-31 | 5,465 | 1,282 | 721 |
| 2017-09-30 | 5,336 | 1,247 | 583 |
| 2017-06-30 | 5,206 | 1,211 | 445 |
| 2016-12-31 | 4,864 | 1,114 | 466 |
| 2016-09-30 | 4,927 | 1,140 | 529 |
| 2016-06-30 | 4,990 | 1,167 | 592 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
All data from Brambles Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | 0.59 | 0.59 | 0.59 | 1.00 |
| 2022-06-30 | 0.56 | 0.56 | 0.56 | 1.00 |
| 2021-06-30 | 0.48 | 0.52 | 0.44 | 4.00 |
| 2020-06-30 | 0.41 | 0.44 | 0.39 | 5.00 |
| 2019-06-30 | 0.39 | 0.42 | 0.38 | 6.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.41 |
| 2018-09-30 | 0.45 |
| 2018-06-30 | 0.49 |
| 2017-12-31 | 0.45 |
| 2017-09-30 | 0.37 |
| 2017-06-30 | 0.28 |
| 2016-12-31 | 0.29 |
| 2016-09-30 | 0.33 |
| 2016-06-30 | 0.38 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Brambles's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Brambles 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.
BXB Past Performance
How has Brambles 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
Past Earnings growth analysis
- Brambles's year on year earnings growth rate has been positive over the past 5 years.
- Brambles's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Brambles's 1-year earnings growth is negative, it can't be compared to the AU Commercial Services industry average.
Earnings and Revenue History
All data from Brambles Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 5,862.40 | 655.10 | 149.30 | |
| 2018-09-30 | 5,810.20 | 714.30 | 149.85 | |
| 2018-06-30 | 5,758.00 | 773.50 | 150.40 | |
| 2017-12-31 | 5,465.20 | 720.60 | 152.90 | |
| 2017-09-30 | 5,335.55 | 582.75 | 151.45 | |
| 2017-06-30 | 5,205.90 | 444.90 | 150.00 | |
| 2016-12-31 | 4,863.90 | 466.40 | 145.20 | |
| 2016-09-30 | 4,927.15 | 529.35 | 154.60 | |
| 2016-06-30 | 4,990.40 | 592.30 | 164.00 | |
| 2015-12-31 | 5,400.50 | 591.50 | 191.90 | |
| 2015-09-30 | 5,480.85 | 589.55 | 200.05 | |
| 2015-06-30 | 5,561.20 | 587.60 | 208.20 | |
| 2014-12-31 | 5,655.70 | 590.20 | 221.20 | |
| 2014-09-30 | 5,594.45 | 587.35 | 218.60 | |
| 2014-06-30 | 5,533.20 | 584.50 | 216.00 | |
| 2013-12-31 | 5,331.30 | 583.80 | 205.80 | |
| 2013-09-30 | 5,207.10 | 570.05 | 203.15 | |
| 2013-06-30 | 5,082.90 | 556.30 | 200.50 | |
| 2013-03-31 | 5,407.20 | 587.75 | 270.70 | |
| 2012-12-31 | 5,328.10 | 586.00 | 271.00 | |
| 2012-09-30 | 5,476.55 | 580.45 | 303.20 | |
| 2012-06-30 | 5,625.00 | 574.90 | 335.40 |
*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.
- Brambles has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Brambles used its assets more efficiently than the AU Commercial Services industry average last year based on Return on Assets.
- Brambles has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Brambles's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Brambles has a total score of 4/6, 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.
BXB Health
How is Brambles'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 Brambles's finances.
The net worth of a company is the difference between its assets and liabilities.
- Brambles's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Brambles's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.6x 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.
All data from Brambles Company Filings, last reported 4 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 2,860.70 | 2,606.80 | 199.60 |
| 2018-09-30 | 2,860.70 | 2,606.80 | 199.60 |
| 2018-06-30 | 3,162.00 | 2,488.30 | 180.20 |
| 2017-12-31 | 3,161.10 | 2,980.70 | 273.30 |
| 2017-09-30 | 3,161.10 | 2,980.70 | 273.30 |
| 2017-06-30 | 2,846.70 | 2,732.40 | 159.70 |
| 2016-12-31 | 2,838.50 | 2,679.00 | 203.40 |
| 2016-09-30 | 2,838.50 | 2,679.00 | 203.40 |
| 2016-06-30 | 2,955.10 | 2,777.90 | 156.10 |
| 2015-12-31 | 2,726.70 | 2,895.60 | 237.70 |
| 2015-09-30 | 2,726.70 | 2,895.60 | 237.70 |
| 2015-06-30 | 2,641.10 | 2,856.90 | 166.20 |
| 2014-12-31 | 2,617.00 | 3,062.20 | 216.10 |
| 2014-09-30 | 2,617.00 | 3,062.20 | 216.10 |
| 2014-06-30 | 2,751.00 | 2,592.00 | 236.90 |
| 2013-12-31 | 2,595.50 | 2,907.70 | 515.90 |
| 2013-09-30 | 2,595.50 | 2,907.70 | 515.90 |
| 2013-06-30 | 3,025.40 | 2,843.80 | 139.00 |
| 2013-03-31 | 3,025.40 | 2,843.80 | 139.00 |
| 2012-12-31 | 3,044.10 | 2,821.90 | 145.00 |
| 2012-09-30 | 3,044.10 | 2,821.90 | 145.00 |
| 2012-06-30 | 2,740.40 | 2,867.90 | 182.60 |
- Brambles's level of debt (91.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (111.9% vs 91.1% today).
- Debt is well covered by operating cash flow (54.1%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 10.6x coverage).
Financial health checks
We assess Brambles's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Brambles has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
BXB Dividends
What is Brambles'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
If you bought
A$2,000 of
Brambles
shares you are expected to receive
A$47
in your first year as a dividend.
Dividend Amount
- Brambles's pays a lower dividend yield than the bottom 25% of dividend payers in Australia (2.56%).
- Brambles's dividend is below the markets top 25% of dividend payers in Australia (5.69%).
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.
| 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 8 Analyst Estimates (S&P Global) | See Below |
| Australia Commercial Services Industry Average Dividend Yield | Market Cap Weighted Average of 11 Stocks | 2.6% |
| Australia Market Average Dividend Yield | Market Cap Weighted Average of 414 Stocks | 4.1% |
| Australia Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Australia Bottom 25% Dividend Yield | 25th Percentile | 2.6% |
| Australia Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-06-30 | 0.27 | 2.00 |
| 2022-06-30 | 0.26 | 2.00 |
| 2021-06-30 | 0.24 | 9.00 |
| 2020-06-30 | 0.24 | 11.00 |
| 2019-06-30 | 0.32 | 11.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-18 | 0.199 | 2.427 |
| 2018-09-28 | 0.203 | 2.760 |
| 2018-02-19 | 0.206 | 2.979 |
| 2017-08-21 | 0.218 | 3.020 |
| 2017-02-20 | 0.213 | 2.969 |
| 2016-08-17 | 0.208 | 2.462 |
| 2016-02-22 | 0.207 | 2.302 |
| 2015-09-29 | 0.192 | 2.631 |
| 2015-02-23 | 0.194 | 2.598 |
| 2014-08-19 | 0.208 | 2.730 |
| 2014-02-19 | 0.241 | 2.882 |
| 2013-09-09 | 0.235 | 2.965 |
| 2013-08-21 | 0.240 | 3.065 |
| 2013-02-20 | 0.240 | 3.043 |
| 2012-08-16 | 0.265 | 3.577 |
| 2012-02-16 | 0.251 | 3.882 |
| 2011-08-17 | 0.245 | 3.789 |
| 2011-02-14 | 0.255 | 3.717 |
| 2010-09-15 | 0.234 | 3.694 |
| 2010-08-19 | 0.220 | 4.247 |
| 2010-02-17 | 0.184 | 3.531 |
| 2009-08-20 | 0.248 | 4.275 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess Brambles's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Brambles afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Brambles has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
BXB Management
CEO
| COMPENSATION | $2,460,000 |
| AGE | 55 |
| TENURE AS CEO | 2.3 years |
CEO Bio
Mr. Graham Andrew Chipchase has been the Chief Executive Officer and Executive Director at Brambles Limited since February 20, 2017, joined in Brambles at the beginning of January 2017. Mr. Chipchase served as an Executive Director of Rexam Ltd. since February 10, 2003. He served as the Chief Executive Officer of Rexam Ltd. from January 1, 2010 to June 2016 and served as its Group Director of Plastic Packaging since July 15, 2005. He was responsible for Rexam Ltd.'s global plastic packaging business which includes healthcare, closures, personal care and other markets. In that role, he has led acquisition and integration of Precise Technology (USA), Delta (USA), Airpsray (NL), FangXin (China), TruePack (India) with the objective to reach global leadership in selected markets. He has leveraged organic growth through lean enterprise, innovation and global customer management programs across the Sector's 45 sites worldwide. He served as Finance Director of Rexam Ltd. from March 10, 2003 to July 15, 2005. He served as Finance Director of GKN plc's Aerospace Services business from 2001 to 2003. He started his career with Coopers & Lybrand. Later he joined The BOC Group PLC and served as Corporate Finance Manager since 1990. He served in various positions within Financial Planning and Analysis in both BOC's US and European subsidiaries including Group Controller since 1999 and then as Director of Planning and Financial Control. He has been a Non-Executive Director of AstraZeneca Plc since April 26, 2012 and its Senior Independent Non-Executive Director since January 1, 2019. Mr. Chipchase holds MA in Chemistry from Oriel College, Oxford and is a fellow of the Institute of Chartered Accountants in England and Wales.
CEO Compensation
- Graham's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
- Graham's remuneration is lower than average for companies of similar size in Australia.
Management Team Tenure
Average tenure and age of the Brambles management team in years:
- The tenure for the Brambles management team is about average.
Management Team
Graham Chipchase
CEO, Chairman of Executive Leadership Team & Executive Director
$2M
55
2.3 yrs
Nessa O'Sullivan
CFO & Executive Director
$2M
53
2.5 yrs
Wolfgang Orgeldinger
Group President of RPCs
$2M
60
5.8 yrs
Laura Nador
President of CHEP North America
$318K
46
2.2 yrs
Mike Pooley
President of CHEP Europe
$790K
50
2.3 yrs
Rod Hefford
Chief Information Officer
54
1.9 yrs
Raluca Chiriacescu
Director of Investor Relations
Robert Gerrard
Group VP of Legal & Secretariat and Company Secretary
56
2.2 yrs
Patrick Bradley
Group Senior Vice President of Human Resources
0.7 yrs
Prasad Srinivasamurthy
President of BXB Digital
47
3.2 yrs
Board of Directors Tenure
Average tenure and age of the Brambles board of directors in years:
- The tenure for the Brambles board of directors is about average.
Board of Directors
Stephen Johns
Independent Non-Executive Chairman
$525K
71
4.7 yrs
Graham Chipchase
CEO, Chairman of Executive Leadership Team & Executive Director
$2M
55
2.3 yrs
Nessa O'Sullivan
CFO & Executive Director
$2M
53
2.1 yrs
Tony Froggatt
Independent Non-Executive Director
$216K
70
12.9 yrs
Brian Long
Independent Non-Executive Director
$223K
72
4.8 yrs
David Gosnell
Independent Non-Executive Director
$184K
61
7.4 yrs
John Claringbould
Member of the USA Advisory Board
8.7 yrs
Rodney Slater
Member of the USA Advisory Board
63
8.7 yrs
Tahira Hassan
Independent Non-Executive Director
$177K
65
7.4 yrs
Scott Perkins
Independent Non-Executive Director
$181K
53
3.9 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Brambles insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (A$) | Value (A$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 01. May 19 | Buy | Nessa O'Sullivan | Individual | 30. Apr 19 | 30. Apr 19 | 34 | A$12.06 | A$410 | ||
| 01. May 19 | Buy | Graham Chipchase | Individual | 30. Apr 19 | 30. Apr 19 | 34 | A$12.06 | A$410 | ||
| 01. Apr 19 | Buy | Graham Chipchase | Individual | 29. Mar 19 | 29. Mar 19 | 35 | A$11.96 | A$419 | ||
| 25. Mar 19 | Sell | Realindex Investments Pty Limited | Company | 11. Jul 18 | 11. Mar 19 | -1,632,518 | A$10.61 | A$-17,313,433 | ||
| 25. Mar 19 | Buy | Realindex Investments Pty Limited | Company | 16. Jul 18 | 22. Mar 19 | 2,605,714 | A$10.39 | A$27,083,058 | ||
| 25. Mar 19 | Sell | First State Investment Management (UK) Limited | Company | 28. Nov 18 | 25. Feb 19 | -1,596,170 | A$10.64 | A$-16,987,604 | ||
| 25. Mar 19 | Sell | ASB Group Investments Ltd. | Company | 07. Aug 18 | 28. Feb 19 | -448,034 | A$11.03 | A$-4,941,173 | ||
| 25. Mar 19 | Sell | Colonial First State Asset Management (Australia) Limited | Company | 10. Jul 18 | 22. Mar 19 | -15,393,163 | A$11.03 | A$-165,994,301 | ||
| 25. Mar 19 | Buy | Colonial First State Asset Management (Australia) Limited | Company | 10. Jul 18 | 22. Mar 19 | 33,093,088 | A$11.00 | A$362,297,132 | ||
| 13. Mar 19 | Sell | Schroder Investment Management (Singapore) Ltd | Company | 12. Oct 16 | 13. Mar 19 | -5,429,967 | A$10.16 | A$-55,148,551 | ||
| 13. Mar 19 | Buy | Schroder Investment Management (Singapore) Ltd | Company | 12. Oct 16 | 13. Mar 19 | 2,578,009 | A$9.99 | A$25,754,327 | ||
| 13. Mar 19 | Sell | Schroder Investment Management (Hong Kong) Limited | Company | 12. Oct 16 | 13. Mar 19 | -2,529,878 | A$9.94 | A$-25,157,214 | ||
| 13. Mar 19 | Buy | Schroder Investment Management (Hong Kong) Limited | Company | 12. Oct 16 | 13. Mar 19 | 1,136,597 | A$9.67 | A$10,989,543 | ||
| 13. Mar 19 | Sell | Schroder Investment Management Limited | Company | 12. Oct 16 | 13. Mar 19 | -26,135,587 | A$10.71 | A$-258,209,017 | ||
| 13. Mar 19 | Buy | Schroder Investment Management Limited | Company | 12. Oct 16 | 13. Mar 19 | 22,694,377 | A$10.18 | A$228,923,512 | ||
| 13. Mar 19 | Sell | Schroder Investment Management North America Inc. | Company | 12. Oct 16 | 13. Mar 19 | -7,944,537 | A$10.93 | A$-86,864,154 | ||
| 13. Mar 19 | Buy | Schroder Investment Management North America Inc. | Company | 12. Oct 16 | 13. Mar 19 | 13,113,116 | A$9.81 | A$128,586,403 | ||
| 04. Mar 19 | Buy | Nessa O'Sullivan | Individual | 28. Feb 19 | 28. Feb 19 | 38 | A$11.77 | A$447 | ||
| 04. Mar 19 | Buy | Graham Chipchase | Individual | 28. Feb 19 | 28. Feb 19 | 38 | A$11.77 | A$447 | ||
| 31. Jan 19 | Buy | Nessa O'Sullivan | Individual | 31. Jan 19 | 31. Jan 19 | 41 | A$10.70 | A$439 | ||
| 31. Jan 19 | Buy | Graham Chipchase | Individual | 31. Jan 19 | 31. Jan 19 | 42 | A$10.70 | A$449 | ||
| 02. Jan 19 | Buy | Nessa O'Sullivan | Individual | 31. Dec 18 | 31. Dec 18 | 43 | A$10.25 | A$441 | ||
| 02. Jan 19 | Buy | Graham Chipchase | Individual | 31. Dec 18 | 31. Dec 18 | 43 | A$10.25 | A$441 | ||
| 03. Dec 18 | Buy | Nessa O'Sullivan | Individual | 30. Nov 18 | 30. Nov 18 | 41 | A$10.50 | A$431 | ||
| 03. Dec 18 | Buy | Graham Chipchase | Individual | 30. Nov 18 | 30. Nov 18 | 41 | A$10.50 | A$431 | ||
| 25. Nov 18 | Buy | The Vanguard Group, Inc. | Company | 21. Nov 18 | 21. Nov 18 | 22,540 | A$10.50 | A$236,670 | ||
| 21. Nov 18 | Sell | The Vanguard Group, Inc. | Company | 19. Nov 18 | 19. Nov 18 | -60,125 | A$10.26 | A$-616,883 | ||
| 21. Nov 18 | Buy | The Vanguard Group, Inc. | Company | 19. Nov 18 | 19. Nov 18 | 25,531 | A$10.27 | A$262,203 | ||
| 20. Nov 18 | Sell | The Vanguard Group, Inc. | Company | 23. Jul 18 | 15. Nov 18 | -704,512 | A$11.79 | A$-8,260,504 | ||
| 20. Nov 18 | Buy | The Vanguard Group, Inc. | Company | 19. Jul 18 | 16. Nov 18 | 3,451,481 | A$11.50 | A$39,272,214 | ||
| 31. Oct 18 | Buy | Nessa O'Sullivan | Individual | 31. Oct 18 | 31. Oct 18 | 42 | A$10.64 | A$447 | ||
| 31. Oct 18 | Buy | Graham Chipchase | Individual | 31. Oct 18 | 31. Oct 18 | 42 | A$10.64 | A$447 | ||
| 20. Sep 18 | Sell | Massachusetts Financial Services Company | Company | 15. Mar 18 | 19. Sep 18 | -7,422,274 | A$14.82 | A$-90,886,223 | ||
| 20. Sep 18 | Buy | Massachusetts Financial Services Company | Company | 15. Mar 18 | 19. Sep 18 | 3,149,328 | A$9.78 | A$30,484,373 | ||
| 02. Oct 18 | Buy | Nessa O'Sullivan | Individual | 28. Sep 18 | 28. Sep 18 | 40 | A$10.99 | A$440 | ||
| 02. Oct 18 | Buy | Graham Chipchase | Individual | 28. Sep 18 | 28. Sep 18 | 41 | A$10.99 | A$451 | ||
| 06. Sep 18 | Buy | Elizabeth Fagan | Individual | 30. Aug 18 | 30. Aug 18 | 20,000 | A$10.92 | A$218,400 | ||
| 03. Sep 18 | Buy | Nessa O'Sullivan | Individual | 31. Aug 18 | 31. Aug 18 | 40 | A$10.96 | A$438 | ||
| 03. Sep 18 | Buy | Graham Chipchase | Individual | 31. Aug 18 | 31. Aug 18 | 39 | A$10.96 | A$427 | ||
| 02. Aug 18 | Buy | Nessa O'Sullivan | Individual | 31. Jul 18 | 31. Jul 18 | 44 | A$9.86 | A$434 | ||
| 02. Aug 18 | Buy | Graham Chipchase | Individual | 31. Jul 18 | 31. Jul 18 | 44 | A$9.86 | A$434 | ||
| 02. Jul 18 | Buy | Nessa O'Sullivan | Individual | 29. Jun 18 | 29. Jun 18 | 49 | A$8.92 | A$437 | ||
| 02. Jul 18 | Buy | Graham Chipchase | Individual | 29. Jun 18 | 29. Jun 18 | 49 | A$8.92 | A$437 | ||
| 01. Jun 18 | Buy | Nessa O'Sullivan | Individual | 31. May 18 | 31. May 18 | 47 | A$9.09 | A$427 | ||
| 01. Jun 18 | Buy | Graham Chipchase | Individual | 31. May 18 | 31. May 18 | 48 | A$9.09 | A$436 | ||
Management checks
We assess Brambles's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Brambles 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.
BXB News
Simply Wall St News
Should You Take Comfort From Insider Transactions At Brambles Limited (ASX:BXB)?
Check out our latest analysis for Brambles The Last 12 Months Of Insider Transactions At Brambles Over the last year, we can see that the biggest insider purchase was by Elizabeth Fagan for AU$218k worth of shares, at about AU$10.92 per share. … In the last twelve months Brambles insiders were buying shares, but not selling. … ASX:BXB Recent Insider Trading, May 21st 2019 Brambles is not the only stock that insiders are buying.
Simply Wall St - – Full articleWhere Brambles Limited's (ASX:BXB) Earnings Growth Stands Against Its Industry
After looking at Brambles Limited's (ASX:BXB) latest earnings announcement (31 December 2018), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … View our latest analysis for Brambles How Did BXB's Recent Performance Stack Up Against Its Past? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 3.5%, indicating the rate at which BXB is growing has slowed down.
Simply Wall St - – Full articleAre Brambles Limited's (ASX:BXB) Interest Costs Too High?
the key to extending previous success is in the health of the company’s financials. … I will provide an overview of Brambles’s financial liquidity and leverage to give you an idea of Brambles’s position to take advantage of potential acquisitions or comfortably endure future downturns. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis
Simply Wall St - – Full articleCalculating The Intrinsic Value Of Brambles Limited (ASX:BXB)
by projecting its future cash flows and then discounting them to today's value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.
Simply Wall St - – Full articleWhy Brambles Limited’s (ASX:BXB) Return On Capital Employed Is Impressive
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleAre Brambles Limited (ASX:BXB) Shareholders Getting A Good Deal?
What is left after investment, determines the value of the stock since this cash flow technically belongs to investors of the company. … Today we will examine Brambles’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Brambles’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure.
Simply Wall St - – Full articleDo You Know What Brambles Limited's (ASX:BXB) P/E Ratio Means?
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 20.6 = $8.47 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $0.41
Simply Wall St - – Full articleShould Brambles (ASX:BXB) Be Disappointed With Their 27% Profit?
For example, long term Brambles Limited (ASX:BXB) shareholders have enjoyed a 27% share price rise over the last half decade, well in excess of the market return of around 7.6% (not including dividends). … During five years of share price growth, Brambles achieved compound earnings per share (EPS) growth of 1.9% per year. … This EPS growth is slower than the share price growth of 4.9% per year, over the same period.
Simply Wall St - – Full articleIs Brambles Limited (ASX:BXB) An Attractive Dividend Stock?
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Historically, Brambles Limited (ASX:BXB) has paid a dividend to shareholders. … Let's take a look at Brambles in more detail.
Simply Wall St - – Full articleCan Brambles Limited (ASX:BXB) Maintain Its Strong Returns?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.24 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleBXB Company Info
Description
Brambles Limited provides supply-chain logistics solutions based on the provision of reusable pallets, crates, and containers for shared use by various participants in the supply chain. The company operates through CHEP North America and Latin America; CHEP Europe, Middle East, Africa and India; CHEP Australia, New Zealand and Asia, excluding India; and IFCO segments. It offers pallet and container pooling, and reusable plastic crates pooling services. As of June 30, 2018, it owned approximately 610 million pallets, crates, and containers through a network of approximately 850 service centers. The company provides its services under the CHEP and IFCO brands to the customers in the fast-moving consumer goods, fresh produce, beverage, retail, and general manufacturing industries in the Americas, Europe, Australia, and internationally. Brambles Limited was founded in 1875 and is based in Sydney, Australia.
Details
| Name: | Brambles Limited |
| BXB | |
| Exchange: | ASX |
| Founded: | 1875 |
| A$19,758,621,761 | |
| 1,594,723,306 | |
| Website: | http://www.brambles.com |
| Address: |
Brambles Limited Angel Place, Level 10, Sydney, New South Wales, 2000, Australia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ASX | BXB | Ordinary Shares | Australian Securities Exchange | AU | AUD | 01. Jan 1992 | |
| OTCPK | BMBL.F | Ordinary Shares | Pink Sheets LLC | US | USD | 01. Jan 1992 | |
| DB | R1H | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 01. Jan 1992 | |
| CHIA | BXB | Ordinary Shares | Chi-X Australia | AU | AUD | 01. Jan 1992 | |
| OTCPK | BXBL.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 16. Oct 2008 |
Number of employees
Current staff
Industry
| Diversified Support Services | |
| Commercial Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/23 10:33 |
| End of day share price update: | 2019/05/23 00:00 |
| Last estimates confirmation: | 2019/05/22 |
| Last earnings filing: | 2019/02/17 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/06/30 |
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.
