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Perpetual Equity Investment

ASX:PIC
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PIC
ASX
A$346M
Market Cap
  1. Home
  2. AU
  3. Diversified Financials
Company description

Perpetual Equity Investment Company Limited invests in listed securities. The last earnings update was 98 days ago. More info.


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PIC Share Price and Events
7 Day Returns
2%
ASX:PIC
0.5%
AU Capital Markets
1.2%
AU Market
1 Year Returns
-11.5%
ASX:PIC
6.8%
AU Capital Markets
4.7%
AU Market
PIC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Perpetual Equity Investment (PIC) 2% -1% -5.7% -11.5% 7.5% -
AU Capital Markets 0.5% -6.8% -1.5% 6.8% 66.2% 103.9%
AU Market 1.2% 1.1% 4.3% 4.7% 18.3% 9%
1 Year Return vs Industry and Market
  • PIC underperformed the Capital Markets industry which returned 6.8% over the past year.
  • PIC underperformed the Market in Australia which returned 4.7% over the past year.
Price Volatility
PIC
Industry
5yr Volatility vs Market

PIC Value

 Is Perpetual Equity Investment 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 Perpetual Equity Investment 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 Perpetual Equity Investment.

ASX:PIC 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$1.09 * 7.4%
A$0.08
Book Value of Equity per Share Median Book Value from the past 5 years. A$1.09
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:PIC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.701 (1 + (1- 30%) (0%))
0.8
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:PIC using Excess Returns Model Model

The calculations below outline how an intrinsic value for Perpetual Equity Investment 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:PIC Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.4% – 7.08%) * A$1.09)
A$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.00 / (7.08% - 2.31%)
A$0.07
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$1.09 + A$0.07
A$1.16
ASX:PIC Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$1.16
Current discount Discount to share price of A$1.00
= -1 x (A$1.00 - A$1.16) / A$1.16
14.1%

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

Current Discount
Amount off the current price Perpetual Equity Investment is available for.
Intrinsic value
14%
Share price is A$1 vs Future cash flow value of A$1.16
Current Discount Checks
For Perpetual Equity Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Perpetual Equity Investment's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Perpetual Equity Investment'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 Perpetual Equity Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Perpetual Equity Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:PIC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$-0.04
ASX:PIC Share Price ** ASX (2019-05-24) in AUD A$1
Australia Capital Markets Industry PE Ratio Median Figure of 20 Publicly-Listed Capital Markets Companies 18.45x
Australia Market PE Ratio Median Figure of 543 Publicly-Listed Companies 16.23x

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

** Primary Listing of Perpetual Equity Investment.

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

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

= 1 ÷ -0.04

-22.88x

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

  • Perpetual Equity Investment is loss making, we can't compare its value to the AU Capital Markets industry average.
  • Perpetual Equity Investment is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Perpetual Equity Investment's expected growth come at a high price?
Raw Data
ASX:PIC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -22.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
28.9%per year
Australia Capital Markets Industry PEG Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 2.55x
Australia Market PEG Ratio Median Figure of 358 Publicly-Listed Companies 1.41x

*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 Perpetual Equity Investment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Perpetual Equity Investment's assets?
Raw Data
ASX:PIC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$1.05
ASX:PIC Share Price * ASX (2019-05-24) in AUD A$1
Australia Capital Markets Industry PB Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 1.58x
Australia Market PB Ratio Median Figure of 1,682 Publicly-Listed Companies 1.66x
ASX:PIC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1 ÷ 1.05

0.95x

* Primary Listing of Perpetual Equity Investment.

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

  • Perpetual Equity Investment is good value based on assets compared to the AU Capital Markets industry average.
X
Value checks
We assess Perpetual Equity Investment'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Perpetual Equity Investment 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.

PIC Future Performance

 How is Perpetual Equity Investment expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Perpetual Equity Investment, 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
28.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Perpetual Equity Investment expected to grow at an attractive rate?
  • Perpetual Equity Investment's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Perpetual Equity Investment's earnings growth is expected to exceed the Australia market average.
  • Unable to compare Perpetual Equity Investment's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:PIC Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:PIC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 28.9%
Australia Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.8%
Australia Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
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
Raw Data
ASX:PIC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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:PIC Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 -16 0 -12
2018-09-30 10 -4 6
2018-06-30 37 -8 25
2018-03-31 41 -6 27
2017-12-31 45 -4 30
2017-09-30 46 -2 31
2017-06-30 48 0 32
2017-03-31 37 1 25
2016-12-31 27 2 17
2016-09-30 20 3 13
2016-06-30 13 5 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Perpetual Equity Investment's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Perpetual Equity Investment 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:PIC 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 0 Analyst Estimates (S&P Global) See Below

All data from Perpetual Equity Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:PIC Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 -0.04
2018-09-30 0.02
2018-06-30 0.10
2018-03-31 0.11
2017-12-31 0.12
2017-09-30 0.12
2017-06-30 0.13
2017-03-31 0.10
2016-12-31 0.07
2016-09-30 0.05
2016-06-30 0.03

*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 Perpetual Equity Investment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Perpetual Equity Investment'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.
Perpetual Equity Investment 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.

PIC Past Performance

  How has Perpetual Equity Investment 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 Perpetual Equity Investment's growth in the last year to its industry (Capital Markets).
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.
  • Perpetual Equity Investment does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Perpetual Equity Investment's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Perpetual Equity Investment's 1-year growth to the AU Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Perpetual Equity Investment'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 Perpetual Equity Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:PIC 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 -15.97 -12.02 3.21
2018-09-30 10.33 6.41 3.09
2018-06-30 36.63 24.83 2.97
2018-03-31 40.80 27.29 2.95
2017-12-31 44.96 29.74 2.93
2017-09-30 46.44 30.78 2.88
2017-06-30 47.92 31.81 2.83
2017-03-31 37.42 24.61 2.76
2016-12-31 26.93 17.40 2.68
2016-09-30 19.91 12.51 2.66
2016-06-30 12.89 7.61 2.63
2015-12-31 28.38 17.44 2.87
2015-06-30 9.18 4.43 1.63

*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 Perpetual Equity Investment has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Perpetual Equity Investment has efficiently used its assets last year compared to the AU Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Perpetual Equity Investment 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 Perpetual Equity Investment'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 Capital Markets 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.
Perpetual Equity Investment 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.

PIC Health

 How is Perpetual Equity Investment'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 Perpetual Equity Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Perpetual Equity Investment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Perpetual Equity Investment has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Perpetual Equity Investment'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.
  • Perpetual Equity Investment 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 Perpetual Equity Investment Company Filings, last reported 4 months ago.

ASX:PIC Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 363.67 0.00 360.72
2018-09-30 363.67 0.00 360.72
2018-06-30 289.99 0.00 293.48
2018-03-31 289.99 0.00 293.48
2017-12-31 292.79 0.00 303.46
2017-09-30 292.79 0.00 303.46
2017-06-30 277.96 0.00 288.57
2017-03-31 277.96 0.00 288.57
2016-12-31 273.83 0.00 280.56
2016-09-30 273.83 0.00 280.56
2016-06-30 255.76 0.00 258.15
2015-12-31 261.91 0.00 265.44
2015-06-30 249.85 0.00 251.28
  • Perpetual Equity Investment has no debt.
  • Perpetual Equity Investment has not taken on any debt in the past 5 years.
  • Perpetual Equity Investment has no debt, it does not need to be covered by operating cash flow.
  • Perpetual Equity Investment has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Perpetual Equity Investment'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. Perpetual Equity Investment 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.

PIC Dividends

 What is Perpetual Equity Investment'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
6.4%
Current annual income from Perpetual Equity Investment dividends.
If you bought A$2,000 of Perpetual Equity Investment shares you are expected to receive A$128 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?
  • Perpetual Equity Investment's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.59%).
  • Perpetual Equity Investment's dividend is above the markets top 25% of dividend payers in Australia (5.64%).
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:PIC 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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 414 Stocks 4.2%
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 5.6%

Industry and Market average data is calculated daily.

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

ASX:PIC Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-18 0.064 6.220
2018-08-20 0.066 6.023
2018-02-19 0.060 5.217
2017-08-21 0.050 4.487
2017-02-20 0.044 4.265
2016-08-18 0.040 4.116
2016-02-18 0.016 1.708
2015-08-18 0.005 0.517

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

  • Whilst dividend payments have been stable, Perpetual Equity Investment has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Perpetual Equity Investment only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Perpetual Equity Investment's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 Perpetual Equity Investment'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 Perpetual Equity Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Perpetual Equity Investment 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.

PIC Management

 What is the CEO of Perpetual Equity Investment'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.
  • Perpetual Equity Investment has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Perpetual Equity Investment management team in years:

3.5
Average Tenure
  • The tenure for the Perpetual Equity Investment management team is about average.
Management Team

David Lane

TITLE
Executive Director

Paul Skamvougeras

TITLE
Head of Australian Equities & Portfolio Manager - Perpetual Investment Mgmt Ltd
TENURE
9.3 yrs

Sylvie DiMarco

TITLE
Company Secretary
TENURE
4.8 yrs

Eleanor Padman

TITLE
Company Secretary
TENURE
1.5 yrs

Vince Pezzullo

TITLE
Deputy Head of Equities & Portfolio Manager of Perpetual Invest Management Ltd
TENURE
2.3 yrs

Anthony Aboud

TITLE
Portfolio Manager of Perpetual Investment Management Limited

Anthony Cay

TITLE
Portfolio Manager of Perpetual Investment Management Limited

Jack Collopy

TITLE
Portfolio Manager of the Ethical Shares

Garry Laurence

TITLE
Portfolio Manager of Perpetual Investment Management Limited
Board of Directors Tenure

Average tenure and age of the Perpetual Equity Investment board of directors in years:

4.7
Average Tenure
58.5
Average Age
  • The tenure for the Perpetual Equity Investment board of directors is about average.
Board of Directors

Nancy Fox

TITLE
Chairman
COMPENSATION
A$50K
AGE
61
TENURE
1.8 yrs

David Lane

TITLE
Executive Director
TENURE
1.5 yrs

Christine Feldmanis

TITLE
Non-Executive Director
COMPENSATION
A$40K
AGE
55
TENURE
4.7 yrs

John Edstein

TITLE
Non-Executive Director
COMPENSATION
A$40K
AGE
61
TENURE
4.7 yrs

Virginia Malley

TITLE
Non-Executive Director
COMPENSATION
A$40K
AGE
56
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
10. Oct 18 Buy Nancy Fox Individual 09. Oct 18 09. Oct 18 10,000 A$1.12 A$11,200
10. Oct 18 Buy David Lane Individual 09. Oct 18 09. Oct 18 18,497 A$1.12 A$20,717
04. Oct 18 Buy Virginia Malley Individual 03. Oct 18 03. Oct 18 24,847 A$1.12 A$27,829
04. Oct 18 Buy John Edstein Individual 03. Oct 18 03. Oct 18 24,567 A$1.12 A$27,515
X
Management checks
We assess Perpetual Equity Investment'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. Perpetual Equity Investment 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.

PIC News

Simply Wall St News

Did Changing Sentiment Drive Perpetual Equity Investment's (ASX:PIC) Share Price Down By 13%?

For example, the Perpetual Equity Investment Company Limited (ASX:PIC) share price is down 13% in the last year. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the last year Perpetual Equity Investment saw its earnings per share drop below zero.

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Spotlight On Perpetual Equity Investment Company Limited's (ASX:PIC) Fundamentals

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Perpetual Equity Investment Company Limited (ASX:PIC) due to its excellent fundamentals in more than one area. … report on Perpetual Equity Investment here

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Cheap ASX Stocks For The Day

Companies with shares trading at a market price below what they are actually worth, such as Perpetual Equity Investment and Regional Express Holdings, are deemed undervalued. … Perpetual Equity Investment Company Limited (ASX:PIC) Perpetual Equity Investment Company Limited invests in listed securities. … ASX:PIC PE PEG Gauge Jun 5th 18 Regional Express Holdings Limited (ASX:REX) Regional Express Holdings Limited, together with its subsidiaries, engages in the air transportation of passengers and freight in Australia.

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Who Owns Most Of Perpetual Equity Investment Company Limited (ASX:PIC)?

See our latest analysis for Perpetual Equity Investment ASX:PIC Ownership_summary May 8th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions.

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Flavor Of The Month: Perpetual Equity Investment And More

Undervalued companies, such as Perpetual Equity Investment and HiTech Group Australia, trade at a price less than their true values. … ASX:PIC PE PEG Gauge May 5th 18 HiTech Group Australia Limited (ASX:HIT) HiTech Group Australia Limited provides recruitment services for permanent and contract staff to the information and communications technology (ICT) industry in government and private sectors in Australia. … CTE's shares are currently hovering at around -55% beneath its intrinsic level of $0.22, at a price tag of AU$0.10, based on its expected future cash flows.

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How Does Perpetual Equity Investment Company Limited (ASX:PIC) Affect Your Portfolio Returns?

Every stock in the market is exposed to this risk, which arises from macroeconomic factors such as economic growth and geo-political tussles just to name a few. … PIC'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. … A market capitalisation of AU$290.06M puts PIC in the category of small-cap stocks, which tends to possess higher beta than larger companies.

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Is It Time To Buy Perpetual Equity Investment Company Limited (ASX:PIC) Based Off Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PIC Price per share = A$1.13 Earnings per share = A$0.117 ∴ Price-Earnings Ratio = A$1.13 ÷ A$0.117 = 9.6x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you are inadvertently comparing lower risk firms with PIC, then PIC’s P/E would naturally be lower than its peers, since investors would value those with lower risk with a higher price. … In this case, PIC’s P/E would be lower since investors would also reward its peers’ higher growth with a higher price.

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Discounted Financial Stock Picks

Currently, Perpetual Equity Investment and Money3 are financial companies I've identified as potentially undervalued, meaning their share price is below what these companies are actually worth. … Perpetual Equity Investment Company Limited (ASX:PIC) Perpetual Equity Investment Company Limited invests in listed securities. … Perpetual Equity Investment was established in 2014 and with the company's market cap sitting at AUD A$281.77M, it falls under the small-cap category.

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Does Perpetual Equity Investment Company Limited's (ASX:PIC) Past Performance Indicate A Stronger Future?

Today I will examine Perpetual Equity Investment Company Limited's (ASX:PIC) latest earnings update (31 December 2017) and compare these figures against its performance over the past couple of years, in addition to how the rest of PIC's industry performed. … Check out our latest analysis for Perpetual Equity Investment How Did PIC's Recent Performance Stack Up Against Its Past? … Given that these values may be somewhat myopic, I have calculated an annualized five-year value for Perpetual Equity Investment's earnings, which stands at AU$19.59M This means on average, Perpetual Equity Investment has been able to consistently improve its bottom line over the past couple of years as well.

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Perpetual Equity Investment Company Limited (ASX:PIC): Ex-Dividend Is In 3 Days, Should You Buy?

See our latest analysis for Perpetual Equity Investment 5 checks you should do on a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … ASX:PIC Historical Dividend Yield Mar 16th 18 How does Perpetual Equity Investment fare? … Next Steps: Taking all the above into account, Perpetual Equity Investment is a complicated pick for dividend investors given that there are a couple of positive things about it as well as negative.

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PIC Company Info

Description

Perpetual Equity Investment Company Limited invests in listed securities. The company was incorporated in 2014 and is based in Sydney, Australia.

Details
Name: Perpetual Equity Investment Company Limited
PIC
Exchange: ASX
Founded: 2014
A$345,693,045
345,693,045
Website: http://www.perpetualequity.com.au
Address: Perpetual Equity Investment Company Limited
123 Pitt Street,
Level 18,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX PIC Ordinary Shares Australian Securities Exchange AU AUD 18. Dec 2014
DB P82 Ordinary Shares Deutsche Boerse AG DE EUR 18. Dec 2014
CHIA PIC Ordinary Shares Chi-X Australia AU AUD 18. Dec 2014
Number of employees
Current staff
Staff numbers
0
Perpetual Equity Investment employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 10:35
End of day share price update: 2019/05/24 00:00
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.