Boral
Boral Limited manufactures and supplies building and construction materials in Australia, the United States, and Asia. The last earnings update was 144 days ago. More info.
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BLD Share Price and Events
7 Day Returns
1 Year Returns
BLD Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Boral (BLD) | 0.6% | 3.4% | 11.3% | -17.1% | -19.8% | 0.9% |
| AU Basic Materials | 0.3% | 1.3% | 3.7% | -18.2% | -13.7% | 17.4% |
| AU Market | -0.1% | 2.4% | 6.5% | 5.2% | 19.8% | 11.8% |
1 Year Return vs Industry and Market
- BLD outperformed the Basic Materials industry which returned -18.2% over the past year.
- BLD underperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
Related Companies
BLD Value
Is Boral 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
Boral
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Boral.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 10 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.8% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year AU Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| Basic Materials Unlevered Beta | Simply Wall St/ S&P Global | 0.9 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.9 (1 + (1- 30%) (37.48%)) |
1.092 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.09 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.092 * 5.96%) |
8.82% |
Discounted Cash Flow Calculation for ASX:BLD using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Boral is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (AUD, Millions) | Source |
Present Value Discounted (@ 8.82%) |
|
|---|---|---|---|
| 2020 | 560.50 | Analyst x2 | 515.08 |
| 2021 | 633.00 | Analyst x2 | 534.57 |
| 2022 | 691.26 | Est @ 9.2% | 536.47 |
| 2023 | 740.59 | Est @ 7.14% | 528.18 |
| 2024 | 782.72 | Est @ 5.69% | 512.99 |
| 2025 | 819.32 | Est @ 4.68% | 493.46 |
| 2026 | 851.82 | Est @ 3.97% | 471.47 |
| 2027 | 881.38 | Est @ 3.47% | 448.30 |
| 2028 | 908.90 | Est @ 3.12% | 424.84 |
| 2029 | 935.07 | Est @ 2.88% | 401.65 |
| Present value of next 10 years cash flows | A$4,867.01 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= A$935.07 × (1 + 2.31%) ÷ (8.82% – 2.31%) |
A$14,705.53 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= A$14,705.53 ÷ (1 + 8.82%)10 |
A$6,316.64 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= A$4,867.01 + A$6,316.64 |
A$11,183.65 |
| Equity Value per Share (AUD) |
= Total value / Shares Outstanding
= A$11,183.65 / 1,172.33 |
A$9.54 |
| Calculation | Result | |
|---|---|---|
| Value per share (AUD) | From above. | A$9.54 |
| Current discount | Discount to share price of
A$5.42
= -1 x (A$5.42 - A$9.54) / A$9.54 |
43.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Boral's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Boral'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 Boral's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Boral's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in AUD | A$0.39 |
| ASX:BLD Share Price ** | ASX (2019-07-18) in AUD | A$5.42 |
| Australia Basic Materials Industry PE Ratio | Median Figure of 7 Publicly-Listed Basic Materials Companies | 14.71x |
| Australia Market PE Ratio | Median Figure of 546 Publicly-Listed Companies | 16.19x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Boral.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ASX:BLD Share Price ÷ EPS (both in AUD) = 5.42 ÷ 0.39 |
13.98x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boral is good value based on earnings compared to the AU Basic Materials industry average.
- Boral is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does
Boral's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 13.98x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts |
8%per year |
| Australia Basic Materials Industry PEG Ratio | Median Figure of 6 Publicly-Listed Basic Materials Companies | 1.26x |
| Australia Market PEG Ratio | Median Figure of 361 Publicly-Listed Companies | 1.34x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 13.98x ÷ 8% |
1.75x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boral is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Boral's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in AUD | A$5.07 |
| ASX:BLD Share Price * | ASX (2019-07-18) in AUD | A$5.42 |
| Australia Basic Materials Industry PB Ratio | Median Figure of 7 Publicly-Listed Basic Materials Companies | 1.77x |
| Australia Market PB Ratio | Median Figure of 1,693 Publicly-Listed Companies | 1.68x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ASX:BLD Share Price ÷ Book Value per Share (both in AUD) = 5.42 ÷ 5.07 |
1.07x |
* Primary Listing of Boral.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Boral is good value based on assets compared to the AU Basic Materials industry average.
Value checks
We assess Boral's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Basic Materials industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Basic Materials industry average (and greater than 0)? (1 check) Boral has a total score of 5/6, 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.
BLD Future Performance
How is Boral expected to perform in the next 1 to 3 years based on estimates from 10 analysts?
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!
Earnings growth vs Low Risk Savings
- Boral's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Boral's earnings growth is expected to exceed the Australia market average.
- Boral's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ASX:BLD Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts | 8% |
| ASX:BLD Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts | 2.7% |
| Australia Basic Materials Industry Earnings Growth Rate | Market Cap Weighted Average | 5% |
| Australia Basic Materials Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| Australia Market Earnings Growth Rate | Market Cap Weighted Average | 7.3% |
| Australia Market Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (6 months ago) | See Below |
| Future Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-06-30 | 6,467 | 956 | 547 | 1 |
| 2021-06-30 | 6,226 | 950 | 548 | 8 |
| 2020-06-30 | 6,038 | 877 | 493 | 10 |
| 2019-06-30 | 5,912 | 832 | 449 | 10 |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 5,861 | 615 | 455 |
| 2018-09-30 | 5,796 | 596 | 443 |
| 2018-06-30 | 5,731 | 578 | 431 |
| 2017-12-31 | 4,965 | 471 | 279 |
| 2017-09-30 | 4,547 | 442 | 262 |
| 2017-06-30 | 4,128 | 413 | 246 |
| 2017-03-31 | 4,138 | 468 | 251 |
| 2016-12-31 | 3,951 | 522 | 249 |
| 2016-09-30 | 3,948 | 500 | 247 |
| 2016-06-30 | 3,945 | 478 | 246 |
| 2016-03-31 | 3,993 | 447 | 259 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (6 months ago) | See Below |
| Future Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
All data from Boral Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-06-30 | ||||
| 2021-06-30 | 0.46 | 0.53 | 0.41 | 5.00 |
| 2020-06-30 | 0.41 | 0.49 | 0.34 | 7.00 |
| 2019-06-30 | 0.38 | 0.41 | 0.36 | 7.00 |
| Date (Data in AUD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.39 |
| 2018-09-30 | 0.38 |
| 2018-06-30 | 0.37 |
| 2017-12-31 | 0.24 |
| 2017-09-30 | 0.24 |
| 2017-06-30 | 0.24 |
| 2017-03-31 | 0.27 |
| 2016-12-31 | 0.30 |
| 2016-09-30 | 0.30 |
| 2016-06-30 | 0.31 |
| 2016-03-31 | 0.32 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Boral's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Boral has a total score of 2/6, 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.
BLD Past Performance
How has Boral 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
Past Earnings growth analysis
- Boral has delivered over 20% year on year earnings growth in the past 5 years.
- Boral's 1-year earnings growth exceeds its 5-year average (63% vs 33.4%)
- Boral's earnings growth has exceeded the AU Basic Materials industry average in the past year (63% vs 13%).
Earnings and Revenue History
All data from Boral Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 5,861.20 | 454.50 | 1,403.80 | |
| 2018-09-30 | 5,796.15 | 442.50 | 1,394.15 | |
| 2018-06-30 | 5,731.10 | 430.50 | 1,384.50 | |
| 2017-12-31 | 4,965.10 | 278.90 | 1,190.30 | |
| 2017-09-30 | 4,546.55 | 262.30 | 1,115.30 | |
| 2017-06-30 | 4,128.00 | 245.70 | 1,040.30 | |
| 2017-03-31 | 4,138.35 | 250.85 | 1,051.85 | |
| 2016-12-31 | 3,951.20 | 249.00 | 1,026.20 | |
| 2016-09-30 | 3,948.20 | 247.25 | 1,014.15 | |
| 2016-06-30 | 3,945.20 | 245.50 | 1,002.10 | |
| 2016-03-31 | 3,992.90 | 258.85 | 1,003.95 | |
| 2015-12-31 | 4,040.60 | 272.20 | 1,005.80 | |
| 2015-09-30 | 4,169.10 | 257.80 | 1,021.75 | |
| 2015-06-30 | 4,297.60 | 243.40 | 1,037.70 | |
| 2015-03-31 | 4,310.20 | 196.40 | 1,028.70 | |
| 2014-12-31 | 4,322.80 | 149.40 | 1,019.70 | |
| 2014-09-30 | 4,324.25 | 126.30 | 1,020.50 | |
| 2014-06-30 | 4,325.70 | 103.20 | 1,021.30 | |
| 2014-03-31 | 4,265.40 | -26.10 | 1,015.45 | |
| 2013-12-31 | 4,205.10 | -155.40 | 1,009.60 | |
| 2013-09-30 | 4,184.25 | -215.55 | 1,012.35 | |
| 2013-06-30 | 4,163.40 | -275.70 | 1,015.10 | |
| 2013-03-31 | 5,212.80 | -94.40 | 1,228.85 | |
| 2012-12-31 | 4,639.40 | -7.80 | 1,115.30 | |
| 2012-09-30 | 4,677.80 | 100.80 | 1,129.45 |
*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.
- Boral has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Boral used its assets less efficiently than the AU Basic Materials industry average last year based on Return on Assets.
- Boral has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Boral's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Basic Materials industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Boral has a total score of 4/6, 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.
BLD Health
How is Boral'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 Boral's finances.
The net worth of a company is the difference between its assets and liabilities.
- Boral is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Boral's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.7x 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.
All data from Boral Company Filings, last reported 6 months ago.
| Date (Data in AUD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 5,943.30 | 2,374.00 | 93.40 |
| 2018-09-30 | 5,943.30 | 2,374.00 | 93.40 |
| 2018-06-30 | 5,730.80 | 2,510.00 | 85.50 |
| 2017-12-31 | 5,438.40 | 2,500.90 | 155.60 |
| 2017-09-30 | 5,438.40 | 2,500.90 | 155.60 |
| 2017-06-30 | 5,440.50 | 2,555.50 | 241.60 |
| 2017-03-31 | 5,440.50 | 2,555.50 | 241.60 |
| 2016-12-31 | 5,603.60 | 1,356.90 | 2,588.60 |
| 2016-09-30 | 5,603.60 | 1,356.90 | 2,588.60 |
| 2016-06-30 | 3,506.30 | 1,341.10 | 471.00 |
| 2016-03-31 | 3,506.30 | 1,341.10 | 471.00 |
| 2015-12-31 | 3,476.10 | 1,365.10 | 351.50 |
| 2015-09-30 | 3,476.10 | 1,365.10 | 351.50 |
| 2015-06-30 | 3,524.10 | 1,317.50 | 515.40 |
| 2015-03-31 | 3,524.10 | 1,317.50 | 515.40 |
| 2014-12-31 | 3,491.50 | 1,238.20 | 356.80 |
| 2014-09-30 | 3,491.50 | 1,238.20 | 356.80 |
| 2014-06-30 | 3,348.10 | 1,096.30 | 391.50 |
| 2014-03-31 | 3,348.10 | 1,096.30 | 391.50 |
| 2013-12-31 | 3,402.90 | 1,644.50 | 262.90 |
| 2013-09-30 | 3,402.90 | 1,644.50 | 262.90 |
| 2013-06-30 | 3,393.50 | 1,660.80 | 243.70 |
| 2013-03-31 | 3,393.50 | 1,658.70 | 232.10 |
| 2012-12-31 | 3,398.90 | 1,643.40 | 186.40 |
| 2012-09-30 | 3,398.90 | 1,643.40 | 186.40 |
- Boral's level of debt (40.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (48.4% vs 40.1% today).
- Debt is well covered by operating cash flow (25.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.5x coverage).
Financial health checks
We assess Boral's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Boral has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
BLD Dividends
What is Boral'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
If you bought
A$2,000 of
Boral
shares you are expected to receive
A$100
in your first year as a dividend.
Dividend Amount
- Boral's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.51%).
- Boral's dividend is below the markets top 25% of dividend payers in Australia (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
| Australia Basic Materials Industry Average Dividend Yield | Market Cap Weighted Average of 6 Stocks | 4.3% |
| Australia Market Average Dividend Yield | Market Cap Weighted Average of 415 Stocks | 4% |
| Australia Minimum Threshold Dividend Yield | 10th Percentile | 1.5% |
| Australia Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Australia Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in A$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-06-30 | 0.32 | 1.00 |
| 2021-06-30 | 0.30 | 9.00 |
| 2020-06-30 | 0.28 | 11.00 |
| 2019-06-30 | 0.26 | 11.00 |
| Date (Data in A$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-25 | 0.270 | 5.414 |
| 2018-09-17 | 0.280 | 5.196 |
| 2018-08-28 | 0.280 | 4.037 |
| 2018-02-12 | 0.250 | 3.655 |
| 2017-08-29 | 0.240 | 3.291 |
| 2017-02-14 | 0.240 | 3.714 |
| 2016-09-16 | 0.230 | 3.928 |
| 2016-08-23 | 0.230 | 3.520 |
| 2016-02-09 | 0.220 | 3.451 |
| 2015-08-26 | 0.190 | 3.455 |
| 2015-02-10 | 0.170 | 2.726 |
| 2014-09-17 | 0.160 | 3.113 |
| 2014-08-26 | 0.160 | 2.989 |
| 2014-02-11 | 0.140 | 2.568 |
| 2013-08-20 | 0.110 | 2.318 |
| 2013-02-12 | 0.085 | 1.863 |
| 2012-09-20 | 0.110 | 2.684 |
| 2012-08-21 | 0.110 | 3.130 |
| 2011-09-21 | 0.145 | 3.985 |
| 2011-08-17 | 0.145 | 4.106 |
| 2010-08-18 | 0.135 | 2.913 |
| 2009-08-19 | 0.110 | 2.019 |
| 2009-02-11 | 0.150 | 3.928 |
| 2008-08-19 | 0.340 | 7.334 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess Boral's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Boral afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Boral has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
BLD Management
CEO
| COMPENSATION | A$4,913,000 |
| AGE | 68 |
| TENURE AS CEO | 6.8 years |
CEO Bio
Mr. Michael Kane, also known as Mike, has been the Chief Executive Officer and Managing Director of Boral Limited since October 1, 2012. Mr. Kane served as the President of Boral Industries, Inc (Boral USA ) at Boral Ltd. from February 2010 to September 2012. Mr. Kane served as the President of United States Operations at Boral Ltd. since March 1, 2010. He has a deep knowledge of the US building and construction materials industry. His experience spans a broad range of geographies across America, Europe and the Asia Pacific, and his portfolio of responsibilities has included cement, aggregate, concrete, plasterboard, bricks and roof tile businesses. Mr Kane has extensive experience in the building and construction industry. He has also worked for US Gypsum, Hanson Building Materials and Holcim. Mr. Kane served as the Chief Executive Officer of CalStar Products, Inc. since 2009. Mr. Kane joined CalStar Products, Inc. in 2009. At Berkshire Hathaway's Johns Manville Corporation, Mr. Kane introduced the first formaldehyde-free fiberglass wall insulation-by removing phenol formaldehyde from the resin binder. He served as Senior Vice President of Southeast Region of Holcim (US) Inc. Prior, Mr. Kane served as the President and Chief Executive Officer of Pioneer USA. An attorney by training, Mr. Kane started his career in product and environmental safety at USG. He has been a Director of Boral Limited since October 1, 2012. He served as a Director of CalStar Products, Inc. He was Director of the Harvard Joint Center for Housing Studies Advisory Board, the National Ready Mix Concrete Association and the Alliance to Save Energy. Mr. Kane is credited with helping to revolutionize the insulation business. He serves as Independent Non-Executive Director since March 20, 2019 at Sims Metal Management Limited. He holds a Masters in Science from Creighton University, School of Law in Nebraska. He holds a BA in Sociology from Southern Illinois University and a JD from DePaul University's School of Law in Illinois.
CEO Compensation
- Mike's compensation has been consistent with company performance over the past year, both up more than 20%.
- Mike's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure
Average tenure and age of the Boral management team in years:
- The average tenure for the Boral management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Mike Kane
CEO, MD & Director
A$5M
68
6.8 yrs
Rosaline Ng
Group President Ventures & CFO
A$2M
Ross Harper
Group President of Operations
A$1M
0.4 yrs
Joe Goss
Senior Advisor
A$3M
63
0.4 yrs
David Mariner
President & CEO of Boral Industries Inc
A$1M
3 yrs
Kylie FitzGerald
Group Communications & Investor Relations Director
Damien Sullivan
Group General Counsel
6 yrs
Linda Coates
Group Human Resources Director
5.7 yrs
Dominic Millgate
Company Secretary
44
6.1 yrs
Frederic Rougemont
Chief Executive Officer of USG Boral
Board of Directors Tenure
Average tenure and age of the Boral board of directors in years:
- The tenure for the Boral board of directors is about average.
Board of Directors
Kathryn Fagg
Non-Executive Chairman
A$198K
58
1 yrs
Mike Kane
CEO, MD & Director
A$5M
68
6.8 yrs
Paul Rayner
Non-Executive Director
A$193K
65
10.8 yrs
Eileen Doyle
Non-Executive Director
A$203K
64
9.3 yrs
John Marlay
Non-Executive Director
A$182K
70
9.6 yrs
Karen Moses
Non-Executive Director
A$188K
61
3.3 yrs
Peter Alexander
Non-Executive Director
62
0.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (A$) | Value (A$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19. May 19 | Sell | BlackRock, Inc. | Company | 06. Sep 18 | 16. May 19 | -8,728,291 | A$7.05 | A$-4,532,983 | ||
| 19. May 19 | Buy | BlackRock, Inc. | Company | 06. Sep 18 | 16. May 19 | 19,551,183 | A$7.05 | A$78,312 | ||
| 05. Mar 19 | Buy | Peter Alexander | Individual | 28. Feb 19 | 28. Feb 19 | 8,571 | A$4.93 | A$42,255 | ||
| 20. Feb 19 | Buy | Sumitomo Mitsui Trust Asset Management Co., Ltd. | Company | 20. Dec 18 | 15. Feb 19 | 654,258 | A$4.95 | A$3,240,711 | ||
| 20. Feb 19 | Sell | Nikko Asset Management Co., Ltd. | Company | 20. Dec 18 | 15. Feb 19 | -1,215,896 | A$4.87 | A$-5,567,863 | ||
| 20. Feb 19 | Buy | Nikko Asset Management Co., Ltd. | Company | 20. Dec 18 | 15. Feb 19 | 175,726 | A$5.07 | A$890,106 | ||
| 23. Dec 18 | Buy | Sumitomo Mitsui Trust Asset Management Co., Ltd. | Company | 19. Aug 18 | 19. Dec 18 | 97,916 | A$5.04 | A$493,834 | ||
| 23. Dec 18 | Buy | Nikko Asset Management Co., Ltd. | Company | 19. Aug 18 | 19. Dec 18 | 11,305,337 | A$6.99 | A$64,965,257 | ||
| 06. Sep 18 | Sell | BlackRock, Inc. | Company | 21. Apr 17 | 05. Sep 18 | -19,433,731 | A$8.13 | A$-270,525 | ||
| 06. Sep 18 | Buy | BlackRock, Inc. | Company | 20. Apr 17 | 05. Sep 18 | 29,864,502 | A$8.13 | A$132,057 | ||
| 06. Sep 18 | Sell | Kathryn Fagg | Individual | 05. Sep 18 | 05. Sep 18 | -37,000 | A$6.98 | A$-258,260 | ||
| 06. Sep 18 | Buy | Kathryn Fagg | Individual | 05. Sep 18 | 05. Sep 18 | 82,000 | A$6.99 | A$573,180 | ||
| 06. Aug 18 | Sell | The Vanguard Group, Inc. | Company | 05. Apr 18 | 30. Jul 18 | -260,306 | A$7.49 | A$-1,833,203 | ||
| 06. Aug 18 | Buy | The Vanguard Group, Inc. | Company | 29. Mar 18 | 01. Aug 18 | 2,194,828 | A$7.63 | A$16,746,536 | ||
Management checks
We assess Boral's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Boral 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.
BLD News
Simply Wall St News
Here's How We Evaluate Boral Limited's (ASX:BLD) Dividend
Could Boral Limited (ASX:BLD) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. In this case, Boral likely looks attractive to investors, given its 4.9% dividend yield and a payment history of over ten years. It would not be a surprise to discover that many investors buy it for the dividends. Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. Explore this interactive chart for our latest analysis on Boral! ASX:BLD Historical Dividend Yield, July 5th 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Boral paid out 70% of its profit as dividends, over the trailing twelve month period. A payout ratio above 50% generally implies a business is reaching maturity, although it is still possible to reinvest in the business or increase the dividend over time. We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. Boral paid out 182% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow. Paying out more than 100% of your free cash flow in dividends is generally not a long-term, sustainable state of affairs, so we think shareholders should watch this metric closely. Boral paid out less in dividends than it reported in profits, but unfortunately it didn't generate enough free cash flow to cover the dividend. Were it to repeatedly pay dividends that were not well covered by cash flow, this could be a risk to Boral's ability to maintain its dividend. Is Boral's Balance Sheet Risky? As Boral has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Boral has grown its earnings per share at 24% per annum over the past five years. … First, the company has a payout ratio that was within an average range for most dividend stocks, but it paid out virtually all of its generated cash flow.
Simply Wall St - – Full articleDo Institutions Own Boral Limited (ASX:BLD) Shares?
If you want to know who really controls Boral Limited (ASX:BLD), then you'll have to look at the makeup of its share registry. … Check out our latest analysis for Boral ASX:BLD Ownership Summary, June 28th 2019 What Does The Institutional Ownership Tell Us About Boral? … Insider Ownership Of Boral The definition of an insider can differ slightly between different countries, but members of the board of directors always count.
Simply Wall St - – Full articleHow Much Did Boral Limited's (ASX:BLD) CEO Pocket Last Year?
Thus we can conclude that Mike Kane receives more in total compensation than the median of a group of companies in the same market, and of similar size to Boral Limited. … Given the total loss of 2.1% over three years, many shareholders in Boral Limited are probably rather dissatisfied, to say the least. … We compared total CEO remuneration at Boral Limited with the amount paid at companies with a similar market capitalization.
Simply Wall St - – Full articleShould You Investigate Boral Limited (ASX:BLD) At AU$5.28?
Boral Limited (ASX:BLD), which is in the basic materials business, and is based in Australia, saw a decent share price growth in the teens level on the ASX over the last few months. … What’s more interesting is that, Boral’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. … Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy BLD.
Simply Wall St - – Full articleWill Boral Limited's (ASX:BLD) Earnings Grow In The Next 12 Months?
After Boral Limited's (ASX:BLD) earnings announcement in December 2018, analyst forecasts seem fairly subdued, with profits predicted to rise by 4.0% next year compared with the higher past 5-year average growth rate of 33%. … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of BLD's earnings growth over these next few years. … ASX:BLD Past and Future Earnings, June 4th 2019 By 2022, BLD's earnings should reach AU$512m, from current levels of AU$431m, resulting in an annual growth rate of 6.8%.
Simply Wall St - – Full articleIs Boral Limited (ASX:BLD) Struggling With Its 6.6% Return On Capital Employed?
Finally, we'll look at how its current liabilities affect its ROCE. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Boral: 0.066 = AU$563m ÷ (AU$9.5b - AU$892m) (Based on the trailing twelve months to December 2018.) Therefore, Boral has an ROCE of 6.6%. … Boral reports few current liabilities, which have a negligible impact on its unremarkable ROCE.
Simply Wall St - – Full articleDoes Boral Limited (ASX:BLD) Have A Volatile Share Price?
If you're interested in Boral Limited (ASX:BLD), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market.
Simply Wall St - – Full articleAn Intrinsic Calculation For Boral Limited (ASX:BLD) Suggests It's 49% Undervalued
In this article we are going to estimate the intrinsic value of Boral Limited (ASX:BLD). … by taking the foreast future cash flows of the company and discounting them back to today's value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future.
Simply Wall St - – Full articleBoral Limited (ASX:BLD): Commentary On Fundamentals
Boral Limited (ASX:BLD) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of BLD, it
Simply Wall St - – Full articleBoral Limited (ASX:BLD) Delivered A Weaker ROE Than Its Industry
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Boral has a return on equity of 7.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleBLD Company Info
Description
Boral Limited manufactures and supplies building and construction materials in Australia, the United States, and Asia. It offers asphalt, blocks, bricks, cementitious materials, concrete, pavers and retaining walls, plasterboards, quarry materials, roof tiles, fly ash, light building products and windows, and stones, as well as roofing and masonry, and timber products. The company also provides asphalt laying/spray sealing, concrete placing, roof tile installation, material technical, and empty pallet collection services. In addition, it engages in the transport, landfill, and property activities. The company serves residential and non-residential construction, and the engineering and infrastructure markets. Boral Limited was founded in 1946 and is based in North Sydney, Australia.
Details
| Name: | Boral Limited |
| BLD | |
| Exchange: | ASX |
| Founded: | 1946 |
| A$6,354,039,028 | |
| 1,172,331,924 | |
| Website: | http://www.boral.com.au |
| Address: |
Boral Limited 15 Blue Street, Level 18, North Sydney, New South Wales, 2060, Australia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ASX | BLD | Ordinary Shares | Australian Securities Exchange | AU | AUD | 22. Feb 2000 | |
| OTCPK | BOAL.F | Ordinary Shares | Pink Sheets LLC | US | USD | 22. Feb 2000 | |
| DB | HQK | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 22. Feb 2000 | |
| CHIA | BLD | Ordinary Shares | Chi-X Australia | AU | AUD | 22. Feb 2000 | |
| OTCPK | BOAL.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 04. Aug 2000 |
Number of employees
Current staff
Industry
| Construction Materials | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/18 10:32 |
| End of day share price update: | 2019/07/18 00:00 |
| Last estimates confirmation: | 2019/07/15 |
| Last earnings filing: | 2019/02/24 |
| 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.
