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Managed Accounts Holdings

ASX:MGP
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MGP
ASX
A$40M
Market Cap
  1. Home
  2. AU
  3. Diversified Financials
Company description

Managed Accounts Holdings Limited, through its subsidiaries, provides non-unitized investment administration services and investment administration technology solutions in Australia. The last earnings update was 26 days ago. More info.


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  • Managed Accounts Holdings has significant price volatility in the past 3 months.
MGP Share Price and Events
7 Day Returns
0%
ASX:MGP
-4.1%
AU Diversified Financial
0.4%
AU Market
1 Year Returns
-38.6%
ASX:MGP
-51.9%
AU Diversified Financial
4.5%
AU Market
MGP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Managed Accounts Holdings (MGP) 0% 3.8% -12.9% -38.6% -60.9% -
AU Diversified Financial -4.1% -6.7% -5.4% -51.9% -55.3% -50.9%
AU Market 0.4% 0.4% 12.2% 4.5% 20.7% 5.7%
1 Year Return vs Industry and Market
  • MGP outperformed the Diversified Financial industry which returned -51.9% over the past year.
  • MGP underperformed the Market in Australia which returned 4.5% over the past year.
Price Volatility
MGP
Industry
5yr Volatility vs Market

Value

 Is Managed Accounts Holdings 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 Managed Accounts Holdings 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 Managed Accounts Holdings.

ASX:MGP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= A$0.05 * 9.1%
A$0.00
Book Value of Equity per Share Median Book Value from the past 5 years. A$0.05
Discount Rate (Cost of Equity) See below 7.1%
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:MGP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.677 (1 + (1- 30%) (0%))
0.783
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:MGP using Excess Returns Model Model

The calculations below outline how an intrinsic value for Managed Accounts Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ASX:MGP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.1% – 7.08%) * A$0.05)
A$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.00 / (7.08% - 2.31%)
A$0.02
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$0.05 + A$0.02
A$0.08
ASX:MGP Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.08
Current discount Discount to share price of A$0.14
= -1 x (A$0.14 - A$0.08) / A$0.08
-73.5%

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

  • The current share price of Managed Accounts Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Managed Accounts Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Managed Accounts Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:MGP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$-0.01
ASX:MGP Share Price ** ASX (2019-03-25) in AUD A$0.14
Australia Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 14.95x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.29x

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

** Primary Listing of Managed Accounts Holdings.

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

= ASX:MGP Share Price ÷ EPS (both in AUD)

= 0.14 ÷ -0.01

-17.01x

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

  • Managed Accounts Holdings is loss making, we can't compare its value to the AU Diversified Financial industry average.
  • Managed Accounts Holdings is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Managed Accounts Holdings's expected growth come at a high price?
Raw Data
ASX:MGP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -17.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
29.2%per year
Global Diversified Financial Industry PEG Ratio Median Figure of 43 Publicly-Listed Diversified Financial Companies 0.96x
Australia Market PEG Ratio Median Figure of 362 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Managed Accounts Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Managed Accounts Holdings's assets?
Raw Data
ASX:MGP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.16
ASX:MGP Share Price * ASX (2019-03-25) in AUD A$0.14
Australia Diversified Financial Industry PB Ratio Median Figure of 12 Publicly-Listed Diversified Financial Companies 1.32x
Australia Market PB Ratio Median Figure of 1,669 Publicly-Listed Companies 1.69x
ASX:MGP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:MGP Share Price ÷ Book Value per Share (both in AUD)

= 0.14 ÷ 0.16

0.84x

* Primary Listing of Managed Accounts Holdings.

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

  • Managed Accounts Holdings is good value based on assets compared to the AU Diversified Financial industry average.
X
Value checks
We assess Managed Accounts Holdings'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. Managed Accounts Holdings 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.

Future Performance

 How is Managed Accounts Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Managed Accounts Holdings, future earnings growth has been estimated based on fundamentals.
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
29.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Managed Accounts Holdings expected to grow at an attractive rate?
  • Managed Accounts Holdings's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Managed Accounts Holdings's earnings growth is expected to exceed the Australia market average.
  • Unable to compare Managed Accounts Holdings's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:MGP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:MGP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 29.2%
Australia Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 43.4%
Australia Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average -86.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.4%
Australia Market Revenue Growth Rate Market Cap Weighted Average 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:MGP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:MGP Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:MGP Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 20 1 -2
2018-09-30 17 1 -2
2018-06-30 15 0 -3
2018-03-31 12 0 -2
2017-12-31 8 -1 -1
2017-09-30 8 0 0
2017-06-30 7 2 1
2017-03-31 7 2 1
2016-12-31 6 2 1
2016-09-30 6 1 1
2016-06-30 5 1 1
2016-03-31 5 1 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Managed Accounts Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Managed Accounts Holdings is high growth as no revenue estimate data is available.
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:MGP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Managed Accounts Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MGP Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:MGP Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 -0.01
2018-09-30 -0.01
2018-06-30 -0.01
2018-03-31 -0.01
2017-12-31 -0.01
2017-09-30 0.00
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01
2016-06-30 0.01
2016-03-31 0.01

*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.
  • Unable to establish if Managed Accounts Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Managed Accounts Holdings'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 Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia 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.
Managed Accounts Holdings has a total score of 3/6, 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.

Past Performance

  How has Managed Accounts Holdings 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 Managed Accounts Holdings's growth in the last year to its industry (Diversified Financial).
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.
  • Managed Accounts Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Managed Accounts Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Managed Accounts Holdings's 1-year growth to the AU Diversified Financial industry average as it is not currently profitable.
Earnings and Revenue History
Managed Accounts Holdings'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 Managed Accounts Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MGP Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 19.71 -2.38 10.40
2018-09-30 17.43 -2.44 8.97
2018-06-30 15.15 -2.50 7.54
2018-03-31 11.75 -1.69 5.81
2017-12-31 8.34 -0.89 4.08
2017-09-30 7.62 -0.11 3.57
2017-06-30 6.90 0.67 3.06
2017-03-31 6.54 0.78 2.66
2016-12-31 6.18 0.89 2.27
2016-09-30 5.84 0.82 2.29
2016-06-30 5.50 0.74 2.31
2016-03-31 5.29 0.76 2.25
2015-12-31 5.08 0.78 2.19
2015-09-30 4.72 0.67 2.09
2015-06-30 4.35 0.56 1.99
2015-03-31 3.94 0.23 2.05
2014-12-31 3.52 -0.10 2.10
2014-09-30 3.30 -0.13 1.84
2014-06-30 3.09 -0.17 1.57
2013-06-30 2.61 -0.19 1.88
2012-06-30 -0.12 0.01

*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.
  • It is difficult to establish if Managed Accounts Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Managed Accounts Holdings has efficiently used its assets last year compared to the AU Diversified Financial industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Managed Accounts Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Managed Accounts Holdings'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 Diversified Financial 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.
Managed Accounts Holdings 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.

Health

 How is Managed Accounts Holdings'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 Managed Accounts Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Managed Accounts Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Managed Accounts Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Managed Accounts Holdings'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.
  • Low level of unsold assets.
  • Managed Accounts Holdings has no debt, it does not need to be covered by short term assets.
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 Managed Accounts Holdings Company Filings, last reported 2 months ago.

ASX:MGP Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 47.71 0.00 2.33
2018-09-30 47.71 0.00 2.33
2018-06-30 49.73 0.00 4.93
2018-03-31 49.73 0.00 4.93
2017-12-31 49.88 0.00 3.24
2017-09-30 49.88 0.00 3.24
2017-06-30 6.67 0.00 1.62
2017-03-31 6.67 0.00 1.62
2016-12-31 7.29 0.00 3.90
2016-09-30 7.29 0.00 3.90
2016-06-30 7.25 0.00 4.96
2016-03-31 7.25 0.00 4.96
2015-12-31 7.37 0.00 5.48
2015-09-30 7.37 0.00 5.48
2015-06-30 7.72 0.00 5.90
2015-03-31 7.72 0.00 5.90
2014-12-31 7.72 0.00 6.24
2014-09-30 7.72 0.00 6.24
2014-06-30 7.97 0.00 6.43
2013-06-30 -0.90 2.31 0.25
2012-06-30 5.27 1.27
  • Managed Accounts Holdings has no debt.
  • Managed Accounts Holdings has no debt compared to 5 years ago when it was 31.7%.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Managed Accounts Holdings has sufficient cash runway for 2.5 years based on current free cash flow.
  • Managed Accounts Holdings has sufficient cash runway for 1.8 years if free cash flow continues to grow at historical rates of 94.2% each year.
X
Financial health checks
We assess Managed Accounts Holdings'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. Managed Accounts Holdings has a total score of 6/6, 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.

Dividends

 What is Managed Accounts Holdings'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 Managed Accounts Holdings dividends.
If you bought A$2,000 of Managed Accounts Holdings 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 Managed Accounts Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Managed Accounts Holdings'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:MGP 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 0 Analyst Estimates (S&P Global) See Below
Australia Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.8%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.4%
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.

ASX:MGP Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
ASX:MGP Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.000 0.000
2018-08-30 0.000 0.000
2018-02-28 0.000 0.000
2017-07-31 0.008 2.817
2017-04-21 0.008 2.521
2017-01-30 0.008 2.656
2016-10-17 0.008 2.474
2016-07-28 0.008 2.368
2016-04-22 0.008 2.074
2016-01-28 0.008 2.489
2015-10-23 0.008 2.331
2015-08-28 0.008 4.005
2015-04-30 0.008 4.327
2015-02-19 0.008 4.497
2014-10-15 0.008 4.077

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

  • Unable to perform a dividend volatility check as Managed Accounts Holdings has not reported any payouts.
  • Unable to verify if Managed Accounts Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Managed Accounts Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Managed Accounts Holdings has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Managed Accounts Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Managed Accounts Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Managed Accounts Holdings has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Managed Accounts Holdings'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
David Heather
COMPENSATION A$289,128
TENURE AS CEO 5.1 years
CEO Bio

Mr. David Heather has been the Chief Executive Officer of Managed Accounts Holdings Limited since February 2014.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is lower than average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Managed Accounts Holdings management team in years:

0.3
Average Tenure
  • The average tenure for the Managed Accounts Holdings management team is less than 2 years, this suggests a new team.
Management Team

David Heather

TITLE
Chief Executive Officer
COMPENSATION
A$289K
TENURE
5.1 yrs

Don Sharp

TITLE
Acting CFO & Executive Director
COMPENSATION
A$85K
AGE
69
TENURE
0.2 yrs

Pamella Wilson

TITLE
Group Chief Operating Officer
COMPENSATION
A$166K
TENURE
0.2 yrs

Sanja Jovicic

TITLE
Head of Information Technology
COMPENSATION
A$111K

Tony Nejasmic

TITLE
Head of Distribution & Marketing
COMPENSATION
A$25K
TENURE
1.8 yrs

Craig Giffin

TITLE
Head of Risk Management

Lisa Ng

TITLE
Business Development Manager

Gloria Saliba

TITLE
Head of People & Culture
TENURE
0.2 yrs

Kobie Turner

TITLE
Head of Product
TENURE
1.1 yrs

Brian Stieg

TITLE
Head of Trustee Office
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure of the Managed Accounts Holdings board of directors in years:

0.9
Average Tenure
  • The average tenure for the Managed Accounts Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Peter Brook

TITLE
Non-Executive Chairman of the Board
COMPENSATION
A$14K
TENURE
0.1 yrs

Don Sharp

TITLE
Acting CFO & Executive Director
COMPENSATION
A$85K
AGE
69
TENURE
5.8 yrs

Pamela McAlister

TITLE
Director
TENURE
0.5 yrs

Stephen Reed

TITLE
Non-Executive Director
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Managed Accounts Holdings 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$) Value (A$)
06. Mar 19 Buy Starmay Superannuation Pty Ltd. Company 04. Mar 19 04. Mar 19 754,492 A$0.11 A$82,994
04. Mar 19 Buy Peter Brook Individual 04. Mar 19 04. Mar 19 103,333 A$0.11 A$11,367
X
Management checks
We assess Managed Accounts Holdings'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. Managed Accounts Holdings 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.

News

Simply Wall St News

Did You Manage To Avoid Managed Accounts Holdings's Painful 62% Share Price Drop?

Sadly for them, the share price is down 62% in that time. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … Managed Accounts Holdings saw its share price decline over the three years in which its EPS also dropped, falling to a loss.

Simply Wall St -

What Kind Of Investor Owns Most Of Managed Accounts Holdings Limited (ASX:MGP)?

Every investor in Managed Accounts Holdings Limited (ASX:MGP) should be aware of the most powerful shareholder groups. … With a market capitalization of AU$47m, Managed Accounts Holdings is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Managed Accounts Holdings

Simply Wall St -

Does Managed Accounts Holdings Limited's (ASX:MGP) CEO Salary Compare Well With Others?

In 2014 David Heather was appointed CEO of Managed Accounts Holdings Limited (ASX:MGP). … How Does David Heather's Compensation Compare With Similar Sized Companies. … Our data indicates that Managed Accounts Holdings Limited is worth AU$54m, and total annual CEO compensation is AU$289k.

Simply Wall St -

Who Are Managed Accounts Holdings Limited's (ASX:MGP) Major Shareholders?

In this article, I will take a quick look at Managed Accounts Holdings Limited’s (ASX:MGP) recent ownership structure – an unconventional investing subject, but an important one. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … ASX:MGP Ownership Summary August 8th 18

Simply Wall St -

Does Managed Accounts Holdings Limited's (ASX:MGP) CEO Pay Compare Well With Peers?

View our latest analysis for Managed Accounts Holdings What has MGP's performance been like? … Therefore I will use earnings as a proxy of Heather's performance in the past year. … Typically I would look at market cap and earnings as a proxy for performance, however, MGP's negative earnings reduces the effectiveness of this method.

Simply Wall St -

Is It Time To Buy Managed Accounts Holdings Limited (ASX:MGP)?

The stock’s ratio of 1.39x is currently trading slightly below its industry peers’ ratio of 1.65x, which means if you buy Managed Accounts Holdings today, you’d be paying a relatively fair price for it. … Furthermore, Managed Accounts Holdings’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … MGP’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

What Are The Drivers Of Managed Accounts Holdings Limited's (ASX:MGP) Risks?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … MGP's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … How MGP's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive.

Simply Wall St -

Should You Be Tempted To Sell Managed Accounts Holdings Limited (ASX:MGP) Because Of Its PE Ratio?

Managed Accounts Holdings Limited (ASX:MGP) is trading with a trailing P/E of 52.8x, which is higher than the industry average of 18.5x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for MGP Price per share = A$0.27 Earnings per share = A$0.005 ∴ Price-Earnings Ratio = A$0.27 ÷ A$0.005 = 52.8x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … Since MGP's P/E of 52.8x is higher than its industry peers (18.5x), it means that investors are paying more than they should for each dollar of MGP's earnings.

Simply Wall St -

Bullish Managed Accounts Holdings Limited (ASX:MGP) Insiders Ramp Up Investment In Stock

See our latest analysis for Managed Accounts Holdings Which Insiders Are Buying? … ASX:MGP Insider_trading Feb 19th 18 There were more Managed Accounts Holdings insiders that have bought shares than those that have sold. … Next Steps: Managed Accounts Holdings’s insider meaningful buying activity tells us the shares are currently in favour, although the expected earnings growth challenges this conclusion, and the share price movement may be too trivial to cash in on any mispricing.

Simply Wall St -

At $0.255, Is Managed Accounts Holdings Limited (ASX:MGP) A Buy?

Let’s take a look at Managed Accounts Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Furthermore, Managed Accounts Holdings’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

Company Info

Description

Managed Accounts Holdings Limited, through its subsidiaries, provides non-unitized investment administration services and investment administration technology solutions in Australia. It offers portfolio administration services, such as administration and reporting for client portfolios where the assets are held in the name of the client; managed discretionary account services; separately managed accounts; and superannuation services. The company serves financial advisory firms, wealth managers, and stockbrokers. Managed Accounts Holdings Limited was founded in 2004 and is based in Sydney, Australia.

Details
Name: Managed Accounts Holdings Limited
MGP
Exchange: ASX
Founded: 2004
A$40,066,142
296,786,240
Website: http://www.managedaccounts.com.au
Address: Managed Accounts Holdings Limited
28 Margaret Street,
Suite 1,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX MGP Ordinary Shares Australian Securities Exchange AU AUD 25. Jun 2014
CHIA MGP Ordinary Shares Chi-X Australia AU AUD 25. Jun 2014
Number of employees
Current staff
Staff numbers
0
Managed Accounts Holdings employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/25 10:34
End of day share price update: 2019/03/25 00:00
Last estimates confirmation: 2018/08/30
Last earnings filing: 2019/02/27
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.