ASX:PNC

Stock Analysis Report

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Executive Summary

Pioneer Credit Limited, together with its subsidiaries, provides financial services in Australia. More Details


Snowflake Analysis

Fair value with imperfect balance sheet.

Share Price & News

How has Pioneer Credit's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PNC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-10.8%

PNC

3.9%

AU Diversified Financial

0.5%

AU Market


1 Year Return

n/a

PNC

-25.3%

AU Diversified Financial

-5.6%

AU Market

Return vs Industry: Insufficient data to determine how PNC performed against the Australian Diversified Financial industry.

Return vs Market: Insufficient data to determine how PNC performed against the Australian Market.


Shareholder returns

PNCIndustryMarket
7 Day-10.8%3.9%0.5%
30 Dayn/a8.7%5.0%
90 Dayn/a-10.8%2.9%
1 Yearn/a-22.2%-25.3%-2.3%-5.6%
3 Year-84.4%-85.4%-61.5%-65.8%12.4%-1.2%
5 Year-72.2%-76.4%-56.2%-64.8%41.5%12.9%

Price Volatility Vs. Market

How volatile is Pioneer Credit's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pioneer Credit 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: PNC (A$0.42) is trading below our estimate of fair value (A$1.17)

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


Price To Earnings Ratio

PE vs Industry: PNC is unprofitable, so we can't compare its PE Ratio to the AU Diversified Financial industry average.

PE vs Market: PNC is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PNC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PNC is good value based on its PB Ratio (0.4x) compared to the AU Diversified Financial industry average (1.2x).


Next Steps

Future Growth

How is Pioneer Credit forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

24.3%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Pioneer Credit has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Pioneer Credit performed over the past 5 years?

-39.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PNC is currently unprofitable.

Growing Profit Margin: PNC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PNC is unprofitable, and losses have increased over the past 5 years at a rate of 39.4% per year.

Accelerating Growth: Unable to compare PNC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PNC is unprofitable, making it difficult to compare its past year earnings growth to the Diversified Financial industry (-3.5%).


Return on Equity

High ROE: PNC has a negative Return on Equity (-62.67%), as it is currently unprofitable.


Next Steps

Financial Health

How is Pioneer Credit's financial position?


Financial Position Analysis

Short Term Liabilities: PNC's short term assets (A$14.7M) do not cover its short term liabilities (A$216.3M).

Long Term Liabilities: PNC's short term assets (A$14.7M) exceed its long term liabilities (A$6.6M).


Debt to Equity History and Analysis

Debt Level: PNC's debt to equity ratio (322.5%) is considered high.

Reducing Debt: PNC's debt to equity ratio has increased from 62.8% to 322.5% over the past 5 years.

Debt Coverage: PNC's debt is well covered by operating cash flow (28.1%).

Interest Coverage: Insufficient data to determine if PNC's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Pioneer Credit current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PNC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PNC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PNC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PNC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PNC is not paying a notable dividend for the Australian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PNC's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

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

2.7yrs

Average management tenure


CEO

Keith John

no data

Tenure

AU$1,479,668

Compensation

Mr. Keith Roy John is the Founder of Pioneer Credit Limited and serves as its Managing Director. Mr. John has many years experience in the receivables management industry. He has a long and distinguished c ...


CEO Compensation Analysis

Compensation vs Market: Keith's total compensation ($USD1.05M) is above average for companies of similar size in the Australian market ($USD277.02K).

Compensation vs Earnings: Keith's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Keith John
Founderno dataAU$1.48mno data
Jason Musca
Chief Financial Officer0.42yrAU$199.31kno data
Andrea Hoskins
Chief Operating Officer0.33yrAU$363.26kno data
Susan Symmons
General Counsel & Company Secretary5yrsAU$387.77k0.54%
A$ 142.3k
Barry Hartnett
Chief Development Officer0.33yrAU$263.04k0.22%
A$ 57.5k
Richard Brown
Senior Manager of Compliance11.33yrsno datano data
Jonty Gibbs
Group Financial Controller7.08yrsno datano data

2.7yrs

Average Tenure

Experienced Management: PNC's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Keith John
Founderno dataAU$1.48mno data
Michael Smith
Independent Non-Executive Chairman6.67yrsAU$175.20k1.33%
A$ 351.1k
Andrea Hall
Independent Non-Executive Director3.92yrsAU$130.98k0.15%
A$ 40.6k
Ann Robinson
Independent Non-Executive Director2.67yrsAU$109.50k0.024%
A$ 6.2k

3.9yrs

Average Tenure

Experienced Board: PNC's board of directors are considered experienced (3.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: PNC 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

Pioneer Credit Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pioneer Credit Limited
  • Ticker: PNC
  • Exchange: ASX
  • Founded: 2002
  • Industry: Specialized Finance
  • Sector: Diversified Financials
  • Market Cap: AU$26.310m
  • Shares outstanding: 63.40m
  • Website: https://www.pioneercredit.com.au

Number of Employees


Location

  • Pioneer Credit Limited
  • 108 St Georges Terrace
  • Level 6
  • Perth
  • Western Australia
  • 6000
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PNCASX (Australian Securities Exchange)YesOrdinary SharesAUAUDMay 2014
PNCCHIA (Chi-X Australia)YesOrdinary SharesAUAUDMay 2014

Biography

Pioneer Credit Limited, together with its subsidiaries, provides financial services in Australia. It acquires and services unsecured retail debt portfolios. Pioneer Credit Limited was incorporated in 2002 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 10:32
End of Day Share Price2020/10/20 00:00
Earnings2020/06/30
Annual Earnings2020/06/30


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.