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FWD

FleetwoodASX:FWD Stock Report

Market Cap

AU$237.4m

7D

-0.8%

1Y

36.2%

Updated

21 Oct, 2021

Data

Company Financials +
FWD fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance3/6
Financial Health6/6
Dividends2/6

FWD Overview

Fleetwood Limited engages in the design, manufacture, and sale of modular accommodation units in Australia and New Zealand.

Fleetwood Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fleetwood
Historical stock prices
Current Share PriceAU$2.52
52 Week HighAU$1.70
52 Week LowAU$2.89
Beta1.16
1 Month Change5.00%
3 Month Change-1.18%
1 Year Change36.22%
3 Year Change10.53%
5 Year Change24.14%
Change since IPO3,776.92%

Recent News & Updates

Mar 30
Read This Before Buying Fleetwood Limited (ASX:FWD) For Its Dividend

Read This Before Buying Fleetwood Limited (ASX:FWD) For Its Dividend

Today we'll take a closer look at Fleetwood Limited ( ASX:FWD ) from a dividend investor's perspective. Owning a strong...

Mar 04
Chair of Board John Klepec Just Bought A Handful Of Shares In Fleetwood Limited (ASX:FWD)

Chair of Board John Klepec Just Bought A Handful Of Shares In Fleetwood Limited (ASX:FWD)

Whilst it may not be a huge deal, we thought it was good to see that the Fleetwood Limited ( ASX:FWD ) Chair of Board...

Shareholder Returns

FWDAU Consumer DurablesAU Market
7D-0.8%1.6%0.7%
1Y36.2%6.6%21.4%

Return vs Industry: FWD exceeded the Australian Consumer Durables industry which returned 4.8% over the past year.

Return vs Market: FWD exceeded the Australian Market which returned 21.1% over the past year.

Price Volatility

Is FWD's price volatile compared to industry and market?
FWD volatility
FWD Beta1.16
Industry Beta0.56
Market Beta1

Stable Share Price: FWD is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FWD's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1964600Bruce Nicholsonhttps://www.fleetwoodlimited.com.au

Fleetwood Limited engages in the design, manufacture, and sale of modular accommodation units in Australia and New Zealand. It operates through three segments: RV Solutions, Building Solutions, and Accommodation Solutions. The company also engages in the operation of accommodation villages; and import, manufacture, and distribution of recreational vehicle parts and accessories, as well as the provision of associated services.

Fleetwood Fundamentals Summary

How do Fleetwood's earnings and revenue compare to its market cap?
FWD fundamental statistics
Market CapAU$237.38m
Earnings (TTM)AU$14.61m
Revenue (TTM)AU$355.49m

16.3x

P/E Ratio

0.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FWD income statement (TTM)
RevenueAU$355.49m
Cost of RevenueAU$227.67m
Gross ProfitAU$127.82m
ExpensesAU$113.22m
EarningsAU$14.61m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.16
Gross Margin35.96%
Net Profit Margin4.11%
Debt/Equity Ratio0%

How did FWD perform over the long term?

See historical performance and comparison

Dividends

8.3%

Current Dividend Yield

107%

Payout Ratio

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FWD (A$2.52) is trading below our estimate of fair value (A$7.19)

Significantly Below Fair Value: FWD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FWD is poor value based on its PE Ratio (16.3x) compared to the Australian Consumer Durables industry average (16.1x).

PE vs Market: FWD is good value based on its PE Ratio (16.3x) compared to the Australian market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: FWD is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: FWD is good value based on its PB Ratio (1.1x) compared to the AU Consumer Durables industry average (2.9x).


Future Growth

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

27.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FWD's forecast earnings growth (27% per year) is above the savings rate (1.9%).

Earnings vs Market: FWD's earnings (27% per year) are forecast to grow faster than the Australian market (11.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FWD's revenue (8% per year) is forecast to grow faster than the Australian market (5.4% per year).

High Growth Revenue: FWD's revenue (8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FWD's Return on Equity is forecast to be low in 3 years time (13%).


Past Performance

How has Fleetwood performed over the past 5 years?

12.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FWD has high quality earnings.

Growing Profit Margin: FWD became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FWD has become profitable over the past 5 years, growing earnings by 12.5% per year.

Accelerating Growth: FWD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FWD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Consumer Durables industry (44.2%).


Return on Equity

High ROE: FWD's Return on Equity (6.6%) is considered low.


Financial Health

How is Fleetwood's financial position?


Financial Position Analysis

Short Term Liabilities: FWD's short term assets (A$172.5M) exceed its short term liabilities (A$88.1M).

Long Term Liabilities: FWD's short term assets (A$172.5M) exceed its long term liabilities (A$25.0M).


Debt to Equity History and Analysis

Debt Level: FWD is debt free.

Reducing Debt: FWD has no debt compared to 5 years ago when its debt to equity ratio was 1.7%.

Debt Coverage: FWD has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: FWD has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

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

8.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FWD's dividend (8.33%) is higher than the bottom 25% of dividend payers in the Australian market (2.29%).

High Dividend: FWD's dividend (8.33%) is in the top 25% of dividend payers in the Australian market (5.31%)


Stability and Growth of Payments

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

Growing Dividend: FWD's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (106.8%), FWD's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FWD's dividends in 3 years are not forecast to be well covered by earnings (100% payout ratio).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Bruce Nicholson

0.25

Tenure

Mr. Bruce Nicholson serves as Chief Executive Officer at Fleetwood Limited since July 01, 2021. Mr Nicholson was CEO and Managing Director of Waco Kwikform Group. He was previously Managing Director of Fle...


Leadership Team

Experienced Management: FWD's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: FWD's board of directors are considered experienced (3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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

Fleetwood Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Fleetwood Limited
  • Ticker: FWD
  • Exchange: ASX
  • Founded: 1964
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: AU$237.381m
  • Shares outstanding: 94.20m
  • Website: https://www.fleetwoodlimited.com.au

Number of Employees


Location

  • Fleetwood Limited
  • 21 Regal Place
  • East Perth
  • Western Australia
  • 6004
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/21 18:08
End of Day Share Price2021/10/21 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.