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Spring FG

ASX:SFL
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SFL
ASX
A$6M
Market Cap
  1. Home
  2. AU
  3. Diversified Financials
Company description

Spring FG Limited provides a range of financial services. The last earnings update was 110 days ago. More info.


Add to Portfolio Compare Print
  • Spring FG has significant price volatility in the past 3 months.
SFL Share Price and Events
7 Day Returns
-2.3%
ASX:SFL
-1.3%
AU Diversified Financial
1.7%
AU Market
1 Year Returns
-54.3%
ASX:SFL
-36.8%
AU Diversified Financial
5.4%
AU Market
SFL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spring FG (SFL) -2.3% 0% 40% -54.3% -73.8% -
AU Diversified Financial -1.3% -3.6% -7.6% -36.8% -54.4% -55.2%
AU Market 1.7% 2.8% 5.5% 5.4% 23% 12.3%
1 Year Return vs Industry and Market
  • SFL underperformed the Diversified Financial industry which returned -36.8% over the past year.
  • SFL underperformed the Market in Australia which returned 5.4% over the past year.
Price Volatility
SFL
Industry
5yr Volatility vs Market

Value

 Is Spring FG 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 Spring FG 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 Spring FG.

ASX:SFL 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$0.10 * 7.5%
A$0.01
Book Value of Equity per Share Median Book Value from the past 5 years. A$0.10
Discount Rate (Cost of Equity) See below 7.9%
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:SFL
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 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.738 (1 + (1- 30%) (33.96%))
0.942
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.942 * 5.96%)
7.93%

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

The calculations below outline how an intrinsic value for Spring FG 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:SFL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.5% – 7.93%) * A$0.10)
A$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.00 / (7.93% - 2.31%)
A$-0.01
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$0.10 + A$-0.01
A$0.09
ASX:SFL Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.09
Current discount Discount to share price of A$0.04
= -1 x (A$0.04 - A$0.09) / A$0.09
52%

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

Current Discount
Amount off the current price Spring FG is available for.
Intrinsic value
>50%
Share price is A$0.042 vs Future cash flow value of A$0.0875
Current Discount Checks
For Spring FG to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Spring FG's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Spring FG's share price is below the future cash flow value, and 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 Spring FG's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Spring FG's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:SFL 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:SFL Share Price ** ASX (2019-06-17) in AUD A$0.04
Australia Diversified Financial Industry PE Ratio Median Figure of 7 Publicly-Listed Diversified Financial Companies 14.64x
Australia Market PE Ratio Median Figure of 545 Publicly-Listed Companies 16.2x

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

** Primary Listing of Spring FG.

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

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

= 0.04 ÷ -0.01

-3.54x

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

  • Spring FG is loss making, we can't compare its value to the AU Diversified Financial industry average.
  • Spring FG is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Spring FG's expected growth come at a high price?
Raw Data
ASX:SFL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
40.8%per year
Global Diversified Financial Industry PEG Ratio Median Figure of 39 Publicly-Listed Diversified Financial Companies 0.71x
Australia Market PEG Ratio Median Figure of 358 Publicly-Listed Companies 1.4x

*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 Spring FG, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Spring FG's assets?
Raw Data
ASX:SFL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.06
ASX:SFL Share Price * ASX (2019-06-17) in AUD A$0.04
Australia Diversified Financial Industry PB Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.53x
Australia Market PB Ratio Median Figure of 1,687 Publicly-Listed Companies 1.65x
ASX:SFL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.04 ÷ 0.06

0.69x

* Primary Listing of Spring FG.

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

  • Spring FG is good value based on assets compared to the AU Diversified Financial industry average.
X
Value checks
We assess Spring FG'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. Spring FG has a total score of 3/6, 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 Spring FG expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Spring FG, 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
40.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spring FG expected to grow at an attractive rate?
  • Spring FG's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Spring FG's earnings growth is expected to exceed the Australia market average.
  • Unable to compare Spring FG's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:SFL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:SFL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 40.8%
Australia Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 45.6%
Australia Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average -85.1%
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:SFL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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:SFL Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:SFL Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 10 0 -2
2018-09-30 9 -1 -3
2018-06-30 7 -2 -4
2018-03-31 7 -3 -4
2017-12-31 7 -3 -3
2017-09-30 9 -2 -1
2017-06-30 11 -1 1
2017-03-31 11 1 1
2016-12-31 12 2 1
2016-09-30 12 2 2
2016-06-30 12 1 2
2016-03-31 11 0 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Spring FG's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Spring FG 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:SFL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Spring FG Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SFL Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:SFL Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 -0.01
2018-09-30 -0.02
2018-06-30 -0.03
2018-03-31 -0.03
2017-12-31 -0.02
2017-09-30 -0.01
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 Spring FG will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Spring FG'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.
Spring FG 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 Spring FG 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 Spring FG'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.
  • Spring FG does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Spring FG's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Spring FG's 1-year growth to the AU Diversified Financial industry average as it is not currently profitable.
Earnings and Revenue History
Spring FG'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 Spring FG Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:SFL 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 10.34 -1.69 2.22
2018-09-30 8.87 -3.01 2.35
2018-06-30 7.39 -4.33 2.48
2018-03-31 7.20 -3.78 2.60
2017-12-31 7.02 -3.23 2.72
2017-09-30 9.08 -1.13 2.71
2017-06-30 11.14 0.97 2.70
2017-03-31 11.49 1.10 2.51
2016-12-31 12.23 1.50 2.25
2016-09-30 11.89 1.55 2.20
2016-06-30 11.55 1.60 2.14
2016-03-31 11.13 1.58 2.07
2015-12-31 10.70 1.56 2.07
2015-09-30 10.28 1.55 2.03
2015-06-30 9.85 1.55 1.98
2015-03-31 9.31 1.71 1.83
2014-12-31 8.78 1.87 1.67
2014-09-30 8.44 2.07 1.50
2014-06-30 8.11 2.26 1.33
2013-06-30 4.09 0.50 0.76
2012-06-30 1.70 0.00 0.49

*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 Spring FG has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Spring FG 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 Spring FG 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 Spring FG'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.
Spring FG 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 Spring FG'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 Spring FG's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Spring FG's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Spring FG's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Spring FG'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.
  • Debt is covered by short term assets, assets are 1.7x 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.
Raw Data

All data from Spring FG Company Filings, last reported 5 months ago.

ASX:SFL Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 8.66 2.03 1.21
2018-09-30 8.66 2.03 1.21
2018-06-30 9.52 2.45 1.24
2018-03-31 9.52 2.45 1.24
2017-12-31 12.94 2.33 2.76
2017-09-30 12.94 2.33 2.76
2017-06-30 12.89 1.95 2.60
2017-03-31 16.44 1.95 2.60
2016-12-31 16.26 0.03 0.91
2016-09-30 16.26 0.03 0.91
2016-06-30 15.06 0.00 1.38
2016-03-31 16.00 0.00 1.38
2015-12-31 17.35 0.00 1.00
2015-09-30 17.35 0.00 1.00
2015-06-30 14.81 0.00 1.63
2015-03-31 14.81 0.00 1.63
2014-12-31 10.50 0.00 0.57
2014-09-30 10.50 0.00 0.57
2014-06-30 7.84 0.00 0.76
2013-06-30 0.65 1.10 0.13
2012-06-30 0.12 1.10 0.06
  • Spring FG's level of debt (23.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.6% vs 23.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Spring FG's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Spring FG'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. Spring FG has a total score of 2/6, 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 Spring FG'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 Spring FG dividends.
If you bought A$2,000 of Spring FG 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 Spring FG's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Spring FG'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:SFL 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 6 Stocks 4%
Australia Market Average Dividend Yield Market Cap Weighted Average of 415 Stocks 4.1%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.7%
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:SFL Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
ASX:SFL Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.000 0.000
2018-10-18 0.000 0.000
2018-09-03 0.000 0.000
2017-10-05 0.005 5.095
2017-09-01 0.005 2.500
2017-03-01 0.005 2.312
2016-10-03 0.010 4.646
2015-10-01 0.026 10.633

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

  • Unable to perform a dividend volatility check as Spring FG has not reported any payouts.
  • Unable to verify if Spring FG's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Spring FG's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Spring FG 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 Spring FG'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 Spring FG afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Spring FG 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 Spring FG'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
Keith Cullen
COMPENSATION A$308,810
AGE 51
CEO Bio

Mr. Keith Robert Cullen is the Founder of Spring FG Limited and serves as its Chief Executive Officer and Group Managing Director. Mr. Cullen served as a Consultant to federal government departments and national industry associations. He was Managing Director of eBet Limited from 1994 to 2004. From 2004 to 2006, he was Group Chief Executive Officer of WPS Financial Group. Mr. Cullen has over 15 years experience in sales, marketing and management in media and technology, having worked in several key positions with leading Australian media companies including Australian Radio Network and Wesgo Communications. Mr. Cullen serves as an Executive Director of Wright Patton Shakespeare Financial Group. He serves as an Executive Director of Spring FG Limited. He served as a Non-Executive Director of Intecq Limited (eBet Ltd)., from October 10, 1999 to December 18, 2006. Mr. Cullen served as a Member of the Internet Industry Association's task force on interactive gaming and is a regular speaker at gaming seminars and conventions.

CEO Compensation
  • Keith's compensation has increased whilst company is loss making.
  • Keith's remuneration is about average for companies of similar size in Australia.
Management Team

Keith Cullen

TITLE
Founder
COMPENSATION
A$309K
AGE
51

Chris Kelesis

TITLE
Executive Director
COMPENSATION
A$201K

Cara Edwards

TITLE
Group Head of Compliance & Education

Tony Pelosi

TITLE
Head of Workplace Education Services

Jack Standing

TITLE
National Head of Client Acquisition
TENURE
1.4 yrs

Michael Pelosi

TITLE
National Head of Client Strategy Management

Ian Morgan

TITLE
Company Secretary
TENURE
4.6 yrs
Board of Directors

Guy De Courcy Hedley

TITLE
Non-Executive Chairman
COMPENSATION
A$48K

Keith Cullen

TITLE
Founder
COMPENSATION
A$309K
AGE
51

Chris Kelesis

TITLE
Executive Director
COMPENSATION
A$201K
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Spring FG insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
29. Apr 19 Buy Christos Kelesis Individual 23. Apr 19 29. Apr 19 600,000 A$0.04 A$22,231
X
Management checks
We assess Spring FG'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. Spring FG 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

If You Had Bought Spring FG (ASX:SFL) Stock Three Years Ago, You'd Be Sitting On A 75% Loss, Today

See our latest analysis for Spring FG Spring FG isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … Having said that the 37% annualized share price decline highlights the risk of investing in unprofitable companies. … If you would like to research Spring FG in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company.

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Could The Spring FG Limited (ASX:SFL) Ownership Structure Tell Us Something Useful?

Taking a look at our data on the ownership groups (below), it's seems that institutions own shares in the company. … Insider Ownership Of Spring FG The definition of company insiders can be subjective, and does vary between jurisdictions. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

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Need To Know: Spring FG Limited (ASX:SFL) Insiders Have Been Buying Shares

So we'll take a look at whether insiders have been buying or selling shares in Spring FG Limited (ASX:SFL). … Spring FG Insider Transactions Over The Last Year. … Over the last year, we can see that the biggest insider purchase was by Gary Weiss for AU$939k worth of shares, at about AU$0.15 per share.

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What Type Of Shareholder Owns Spring FG Limited's (ASX:SFL)?

A look at the shareholders of Spring FG Limited (ASX:SFL) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that.

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Who Are The Major Shareholders Of Spring FG Limited (ASX:SFL)?

In this analysis, my focus will be on developing a perspective on Spring FG Limited’s (ASX:SFL) latest ownership structure, a less discussed, but important factor. … Ownership structure of a company has been found to affect share performance over time. … Therefore, it is beneficial for us to examine SFL's ownership structure in more detail.

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Is Spring FG Limited's (ASX:SFL) CEO Salary Justified?

This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … Usually I would look at market cap and earnings as a proxy for performance, however, SFL's negative earnings lower the usefulness of my formula. … Next Steps: Hopefully this article has given you insight on how shareholders should think about SFL's governance policies such as CEO pay.

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Company Info

Description

Spring FG Limited provides a range of financial services. It operates through two segments, Financial Planning, Investment Advice and Product Sales; and Accounting and Taxation Services. It offers financial advice solutions, such as financial planning, retirement planning, superannuation, taxation management, and debt structuring and management; and investment advice solutions, including managed funds, direct equities, direct property investments, superannuation investments, and other investments. The company also provides risk management services comprising risk assessment, personal insurance, business insurance, and estate planning; and tax and accounting services financial reporting, taxation management, tax return preparation and lodgement, SMSF specialist, and corporate compliance, as well as offers e-books and education services. Spring FG Limited was incorporated in 2014 and is headquartered in Sydney, Australia.

Details
Name: Spring FG Limited
SFL
Exchange: ASX
Founded: 2014
A$5,988,816
142,590,868
Website: http://www.springfg.com
Address: Spring FG Limited
95 Pitt Street,
Level 11,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SFL Ordinary Shares Australian Securities Exchange AU AUD 09. Mar 2015
Number of employees
Current staff
Staff numbers
0
Spring FG employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 10:41
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2017/08/31
Last earnings filing: 2019/02/28
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.