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IVE Group

ASX:IGL
Snowflake Description

Undervalued with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IGL
ASX
A$308M
Market Cap
  1. Home
  2. AU
  3. Media
Company description

IVE Group Limited provides marketing and print communication services in Australia. The last earnings update was 144 days ago. More info.


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IGL Share Price and Events
7 Day Returns
-0.5%
ASX:IGL
-0.8%
AU Media
-0.1%
AU Market
1 Year Returns
-8.4%
ASX:IGL
-18.1%
AU Media
5.2%
AU Market
IGL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
IVE Group (IGL) -0.5% -0.5% -7.6% -8.4% -6.4% -
AU Media -0.8% 0.2% -0.6% -18.1% -13.5% -38.2%
AU Market -0.1% 2.4% 6.5% 5.2% 19.8% 11.8%
1 Year Return vs Industry and Market
  • IGL outperformed the Media industry which returned -18.1% over the past year.
  • IGL underperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
IGL
Industry
5yr Volatility vs Market

Value

 Is IVE Group 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 IVE Group 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 IVE Group.

ASX:IGL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:IGL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.764 (1 + (1- 30%) (55.17%))
1.039
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.039 * 5.96%)
8.51%

Discounted Cash Flow Calculation for ASX:IGL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for IVE Group 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.

ASX:IGL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.51%)
2020 51.40 Analyst x1 47.37
2021 52.70 Analyst x1 44.76
2022 53.99 Est @ 2.44% 42.26
2023 55.29 Est @ 2.4% 39.88
2024 56.60 Est @ 2.38% 37.63
2025 57.93 Est @ 2.36% 35.50
2026 59.29 Est @ 2.34% 33.48
2027 60.67 Est @ 2.33% 31.58
2028 62.09 Est @ 2.33% 29.78
2029 63.53 Est @ 2.32% 28.08
Present value of next 10 years cash flows A$370.33
ASX:IGL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$63.53 × (1 + 2.31%) ÷ (8.51% – 2.31%)
A$1,049.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,049.38 ÷ (1 + 8.51%)10
A$463.88
ASX:IGL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$370.33 + A$463.88
A$834.20
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$834.20 / 148.18
A$5.63
ASX:IGL Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$5.63
Current discount Discount to share price of A$2.06
= -1 x (A$2.06 - A$5.63) / A$5.63
63.4%

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

Current Discount
Amount off the current price IVE Group is available for.
Intrinsic value
>50%
Share price is A$2.06 vs Future cash flow value of A$5.63
Current Discount Checks
For IVE Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • IVE Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • IVE Group'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 IVE Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are IVE Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:IGL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.19
ASX:IGL Share Price ** ASX (2019-07-18) in AUD A$2.06
Australia Media Industry PE Ratio Median Figure of 12 Publicly-Listed Media Companies 13.28x
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 IVE Group.

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

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

= 2.06 ÷ 0.19

10.87x

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

  • IVE Group is good value based on earnings compared to the AU Media industry average.
  • IVE Group is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does IVE Group's expected growth come at a high price?
Raw Data
ASX:IGL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
11.9%per year
Australia Media Industry PEG Ratio Median Figure of 10 Publicly-Listed Media Companies 1.19x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

ASX:IGL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.87x ÷ 11.9%

0.91x

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

  • IVE Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on IVE Group's assets?
Raw Data
ASX:IGL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$1.39
ASX:IGL Share Price * ASX (2019-07-18) in AUD A$2.06
Australia Media Industry PB Ratio Median Figure of 25 Publicly-Listed Media Companies 1.37x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.68x
ASX:IGL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.06 ÷ 1.39

1.48x

* Primary Listing of IVE Group.

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

  • IVE Group is overvalued based on assets compared to the AU Media industry average.
X
Value checks
We assess IVE Group'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. IVE Group 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.

Future Performance

 How is IVE Group expected to perform in the next 1 to 3 years based on estimates from 2 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!
Annual Growth Rate
11.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is IVE Group expected to grow at an attractive rate?
  • IVE Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • IVE Group's earnings growth is expected to exceed the Australia market average.
  • IVE Group's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:IGL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:IGL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 11.9%
ASX:IGL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.7%
Australia Media Industry Earnings Growth Rate Market Cap Weighted Average 26.2%
Australia Media Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
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
Raw Data
ASX:IGL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:IGL Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 765 63 40 2
2020-06-30 751 63 37 2
2019-06-30 729 55 34 2
ASX:IGL Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 712 47 28
2018-09-30 704 42 27
2018-06-30 695 37 26
2018-03-31 672 44 25
2017-12-31 648 51 25
2017-09-30 573 42 18
2017-06-30 497 34 12
2017-03-31 445 22 16
2016-12-31 392 9 19
2016-09-30 381 15 17
2016-06-30 369 21 15
2016-03-31 352 21 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • IVE Group's earnings are expected to grow by 11.9% yearly, however this is not considered high growth (20% yearly).
  • IVE Group's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
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:IGL 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 2 Analyst Estimates (S&P Global) See Below

All data from IVE Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:IGL Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.29 0.29 0.28 2.00
2020-06-30 0.25 0.25 0.25 1.00
2019-06-30 0.23 0.23 0.23 1.00
ASX:IGL Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.19
2018-09-30 0.19
2018-06-30 0.18
2018-03-31 0.19
2017-12-31 0.19
2017-09-30 0.16
2017-06-30 0.11
2017-03-31 0.16
2016-12-31 0.21
2016-09-30 0.20
2016-06-30 0.18
2016-03-31 0.09

*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.
  • IVE Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess IVE Group'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.
IVE Group 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.

Past Performance

  How has IVE Group 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 IVE Group's growth in the last year to its industry (Media).
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.
  • IVE Group has delivered over 20% year on year earnings growth in the past 5 years.
  • IVE Group's 1-year earnings growth is less than its 5-year average (14.4% vs 43.9%)
  • IVE Group's earnings growth has exceeded the AU Media industry average in the past year (14.4% vs -2.6%).
Earnings and Revenue History
IVE Group'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 IVE Group Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:IGL Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 711.66 28.13 113.77
2018-09-30 703.51 26.92 113.15
2018-06-30 695.36 25.72 112.52
2018-03-31 671.90 25.15 110.84
2017-12-31 648.43 24.58 109.16
2017-09-30 572.65 18.34 101.53
2017-06-30 496.87 12.11 93.91
2017-03-31 444.62 15.72 87.23
2016-12-31 392.37 19.34 80.55
2016-09-30 380.80 17.19 79.14
2016-06-30 369.23 15.05 77.74
2016-03-31 351.66 7.92 72.31
2015-12-31 334.09 0.80 66.89
2015-09-30 320.89 1.13 61.74
2015-06-30 307.70 1.46 56.58
2014-06-30 278.38 5.84 50.27
2013-06-30 262.48 41.00 51.58

*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.
  • IVE Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • IVE Group used its assets more efficiently than the AU Media industry average last year based on Return on Assets.
  • IVE Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess IVE Group'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 Media 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.
IVE Group 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.

Health

 How is IVE Group'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 IVE Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • IVE Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • IVE Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of IVE Group'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x 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 IVE Group Company Filings, last reported 6 months ago.

ASX:IGL Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 206.01 151.20 27.15
2018-09-30 206.01 151.20 27.15
2018-06-30 199.34 138.29 22.33
2018-03-31 199.34 138.29 22.33
2017-12-31 201.52 129.01 22.43
2017-09-30 201.52 129.01 22.43
2017-06-30 137.62 134.58 23.85
2017-03-31 137.62 134.58 23.85
2016-12-31 136.46 125.43 23.75
2016-09-30 136.46 125.43 23.75
2016-06-30 81.53 36.75 14.48
2016-03-31 81.53 36.75 14.48
2015-12-31 65.04 33.00 17.27
2015-09-30 65.04 33.00 17.27
2015-06-30 41.88 22.00 6.67
2014-06-30 48.42 12.00 3.74
2013-06-30 42.58 16.43 4.30
  • IVE Group's level of debt (82.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54.3% vs 82.5% today).
  • Debt is well covered by operating cash flow (27.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.6x coverage).
X
Financial health checks
We assess IVE Group'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. IVE Group has a total score of 4/6, 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 IVE Group'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
7.82%
Current annual income from IVE Group dividends. Estimated to be 8.92% next year.
If you bought A$2,000 of IVE Group shares you are expected to receive A$156 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?
  • IVE Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.51%).
  • IVE Group's dividend is above 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.
Raw Data
ASX:IGL 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 2 Analyst Estimates (S&P Global) See Below
Australia Media Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.8%
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.

ASX:IGL Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.19 2.00
2020-06-30 0.18 2.00
2019-06-30 0.16 2.00
ASX:IGL Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-25 0.161 7.500
2018-08-27 0.155 7.227
2018-02-26 0.160 7.180
2017-08-30 0.160 7.615
2017-02-27 0.126 5.575
2016-08-29 0.086 3.935

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

  • Whilst dividend payments have been stable, IVE Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but IVE Group only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of IVE Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess IVE Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 IVE Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. IVE Group has a total score of 4/6, 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 IVE Group'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
Warwick Hay
COMPENSATION A$594,700
TENURE AS CEO 5.5 years
CEO Bio

Mr. Warwick Leslie Hay has been a Managing Director of IVE Group Limited since 2014. Mr. Hay joined IVE in 2009 as Chief Executive Officer of Blue Star WEB. He has been an Executive Director of IVE Group Limited since November 25, 2015. He worked in senior leadership roles within the business since 2009, he is been a key influence in the growth and strategic re-positioning of IVE. He has 20 years of management experience across all business operations in complex business-to-business environments. Prior to joining IVE, between 2004 and 2009 he was General Manager of Huhtamaki Flexibles Packaging Oceania. His prior work history includes 15 years within Carter Holt Harvey’s packaging division across a broad range of senior roles. He completed his tertiary education in New Zealand, a Graduate Diploma in Packaging Technology from Massey University and a Post Graduate Diploma in Business from Auckland University.

CEO Compensation
  • Warwick's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Warwick's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the IVE Group management team in years:

4.1
Average Tenure
  • The tenure for the IVE Group management team is about average.
Management Team

Geoff Selig

TITLE
Executive Chairman
COMPENSATION
A$1M
TENURE
4.1 yrs

Warwick Hay

TITLE
MD & Executive Director
COMPENSATION
A$595K
TENURE
5.5 yrs

Darren Dunkley

TITLE
CFO & Company Secretary
COMPENSATION
A$480K
TENURE
7.5 yrs

Matt Aitken

TITLE
Chief Operating Officer
COMPENSATION
A$573K

Paul Selig

TITLE
Executive Director
COMPENSATION
A$554K

Rob Draper

TITLE
Chief Marketing Officer
TENURE
0.1 yrs

Glen Draper

TITLE
Chief Executive Officer of IVEO
TENURE
6.5 yrs

Cliff Brigstocke

TITLE
Chief Executive Officer of Blue Star Group

Keith Elliott

TITLE
Chief Executive Officer of Pareto Phone
TENURE
0.9 yrs

Naomi Dolmatoff

TITLE
Company Secretary
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure of the IVE Group board of directors in years:

3.7
Average Tenure
  • The tenure for the IVE Group board of directors is about average.
Board of Directors

Geoff Selig

TITLE
Executive Chairman
COMPENSATION
A$1M
TENURE
4.1 yrs

Warwick Hay

TITLE
MD & Executive Director
COMPENSATION
A$595K
TENURE
3.7 yrs

Paul Selig

TITLE
Executive Director
COMPENSATION
A$554K
TENURE
4.1 yrs

Gavin Bell

TITLE
Independent Non-Executive Director
COMPENSATION
A$90K
TENURE
3.7 yrs

Carole Campbell

TITLE
Independent Non-Executive Director
AGE
56
TENURE
0.7 yrs

James Scott Todd

TITLE
Independent Non-Executive Director
COMPENSATION
A$90K
TENURE
4.1 yrs

Sandra Hook

TITLE
Independent Non-Executive Director
COMPENSATION
A$90K
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
27. Jun 19 Buy Regal Funds Management Pty Limited Company 07. Mar 19 25. Jun 19 7,095,406 A$2.08 A$14,758,103
28. Jun 19 Buy Regal Funds Management Pty Limited Company 26. Jun 19 26. Jun 19 2,344,918 A$2.00 A$4,689,834
23. Jun 19 Sell FIL Limited Company 07. Jun 19 19. Jun 19 -1,749,607 A$2.10 A$-3,674,175
07. Jun 19 Sell FIL Limited Company 06. Mar 19 05. Jun 19 -1,543,060 A$2.26 A$-3,485,772
05. Mar 19 Buy Realindex Investments Pty Limited Company 08. Nov 18 04. Mar 19 692,781 A$2.14 A$1,480,071
05. Mar 19 Buy IFM Investors Pty Ltd Company 26. Feb 19 27. Feb 19 15,800 A$2.29 A$36,211
05. Mar 19 Buy Colonial First State Asset Management (Australia) Limited Company 07. Nov 18 27. Feb 19 523,908 A$2.10 A$1,100,054
28. Feb 19 Sell FIL Limited Company 28. Sep 18 18. Feb 19 -505,702 A$2.27 A$-1,094,411
28. Feb 19 Buy FIL Limited Company 06. Sep 18 26. Feb 19 1,917,286 A$2.27 A$4,179,535
27. Feb 19 Sell Skye Burney Individual 21. Feb 19 26. Feb 19 -64,958 A$2.31 A$-147,814
27. Feb 19 Sell Taverners J Pty Ltd Company 26. Feb 19 26. Feb 19 -86,170 A$2.27 A$-195,606
27. Feb 19 Sell Taverners Group Limited Company 31. Aug 18 26. Sep 18 -1,490,908 A$2.28 A$-3,324,376
27. Feb 19 Sell Ross Burney Individual 06. Feb 19 26. Feb 19 -100,000 A$2.27 A$-223,604
19. Feb 19 Buy IFM Investors Pty Ltd Company 08. Feb 19 08. Feb 19 8,928 A$2.24 A$19,999
22. Jan 19 Buy IFM Investors Pty Ltd Company 21. Dec 18 24. Dec 18 39,865 A$2.10 A$83,717
05. Dec 18 Buy Exldata Pty. Ltd. Company 08. Aug 18 16. Nov 18 853,063 A$2.25 A$0
05. Dec 18 Buy Togo Jost Pty Ltd Company 17. Aug 18 17. Aug 18 44,850 A$2.23 A$100,015
05. Dec 18 Buy TimeBase Pty Limited Company 02. Aug 18 17. Aug 18 44,850 A$2.23 A$99,812
05. Dec 18 Sell Anthony Kieran Young Individual 28. Nov 18 28. Nov 18 -500,000 A$2.05 A$-1,025,000
05. Dec 18 Buy Anthony Kieran Young Individual 28. Nov 18 28. Nov 18 500,000 A$2.05 A$1,025,000
05. Dec 18 Buy Anthony Kieran Young Individual 06. Aug 18 05. Dec 18 447,120 A$2.24 A$0
05. Sep 18 Buy FIL Limited Company 05. Jul 18 03. Sep 18 2,456,092 A$2.30 A$5,649,013
31. Aug 18 Sell Stoneyville Pty Ltd Company 26. Jul 18 03. Aug 18 -35,000 A$2.25 A$-78,578
05. Sep 18 Sell Regal Funds Management Pty Limited Company 30. Aug 18 03. Sep 18 -1,646,381 A$2.30 A$-3,748,130
31. Aug 18 Sell Taverners J Pty Ltd Company 29. May 18 27. Aug 18 -450,830 A$2.37 A$-1,016,090
31. Aug 18 Sell Taverners Group Limited Company 23. Aug 18 23. Aug 18 -145,929 A$2.28 A$-332,903
31. Aug 18 Sell Regal Funds Management Pty Limited Company 25. Jun 18 29. Aug 18 -1,569,016 A$2.27 A$-3,555,762
X
Management checks
We assess IVE Group'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. IVE Group 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

Does IVE Group Limited (ASX:IGL) Have A Place In Your Dividend Portfolio?

Dividend paying companies with growing earnings can be highly rewarding in the long term. … IVE Group paid out 155% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow. … 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 -

Is IVE Group Limited's (ASX:IGL) Stock Available For A Good Price After Accounting For Growth?

Stocks like IVE Group, with a price-to-earnings (P/E) ratio of 10.71x, always catch the eye of investors on the hunt for a bargain. … However, seeing as IVE Group is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … A PE ratio of 10.71x and expected year-on-year earnings growth of 12% give IVE Group a low PEG ratio of 0.90x.

Simply Wall St -

An Examination Of IVE Group Limited (ASX:IGL)

Upon building up an investment case for a stock, we should look at various aspects. … Investors have the opportunity to buy into the stock to reap capital gains, if IGL's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. … Dividend Income vs Capital Gains: Does IGL return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?

Simply Wall St -

Do You Like IVE Group Limited (ASX:IGL) At This P/E Ratio?

The formula for price to earnings is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for IVE Group: P/E of 10.82 = A$2.05 ÷ A$0.19 (Based on the year to December 2018.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each A$1 of company earnings. … The P/E ratio indicates whether the market has higher or lower expectations of a company.

Simply Wall St -

How Much Are IVE Group Limited (ASX:IGL) Insiders Taking Off The Table?

So before you buy or sell IVE Group Limited (ASX:IGL), you may well want to know whether insiders have been buying or selling. … All up, insiders sold more shares in IVE Group than they bought, over the last year. … Insider Ownership of IVE Group I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders.

Simply Wall St -

Why We Like IVE Group Limited’s (ASX:IGL) 15% Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Why IVE Group Limited (ASX:IGL) Looks Like A Quality Company

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every A$1 worth of shareholders' equity, it generated A$0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is IVE Group Limited (ASX:IGL) A Smart Choice For Dividend Investors?

IVE Group Limited (ASX:IGL) has paid a dividend to shareholders in the last few years. … Let's dig deeper into whether IVE Group should have a place in your portfolio. … Check out our latest analysis for IVE Group

Simply Wall St -

Are IVE Group Limited's (ASX:IGL) Interest Costs Too High?

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Brief Commentary On IVE Group Limited's (ASX:IGL) Fundamentals

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on IVE Group Limited (ASX:IGL) due to its excellent fundamentals in more than one area.

Simply Wall St -

Company Info

Description

IVE Group Limited provides marketing and print communication services in Australia. The company offers conceptual and creative design services through print, mobile, and interactive media; and personalized communications, such as marketing mail, publication mail, e-communications, and multi-channel solutions. It also prints catalogues, magazines, and marketing and corporate communications materials and stationery; and point of sale display materials and large format banners for retail applications. In addition, the company provides outsourced communications solutions for large organizations, including development of customized multi-channel management models covering creative and digital services, supply chain optimization, inventory management, and warehousing and logistics. It serves various industry sectors comprising financial services, publishing, retail, communications, property, clubs and associations, not-for-profit, utilities, manufacturing, education, and government. The company was founded in 1921 and is based in Homebush, Australia.

Details
Name: IVE Group Limited
IGL
Exchange: ASX
Founded: 1921
A$308,212,646
148,179,157
Website: http://www.ivegroup.com.au
Address: IVE Group Limited
Building B,
350 Parramatta Road,
Homebush,
New South Wales, 2140,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX IGL New Ordinary Shares Australian Securities Exchange AU AUD 16. Dec 2015
Number of employees
Current staff
Staff numbers
0
IVE Group employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 10:37
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/05/15
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.