Aspen Group
Market Cap
AU$85.7m
Last Updated
2020/03/28 10:37 UTC
Data Sources
Company Financials +
Executive Summary
Formed in 2001, Aspen Group is an ASX listed property group strategically focused on providing “value for money” accommodation.
Rewards
Risk Analysis
Snowflake Analysis
Fair value with moderate growth potential.
Share Price & News
How has Aspen Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: APZ's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-1.1%
APZ
-2.9%
AU REITs
0.3%
AU Market
1 Year Return
-6.3%
APZ
-36.8%
AU REITs
-22.9%
AU Market
Return vs Industry: APZ exceeded the Australian REITs industry which returned -37% over the past year.
Return vs Market: APZ exceeded the Australian Market which returned -22.8% over the past year.
Shareholder returns
| APZ | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.1% | -2.9% | 0.3% |
| 30 Day | -19.1% | -40.3% | -27.8% |
| 90 Day | -25.8% | -39.4% | -30.0% |
| 1 Year | -1.6%-6.3% | -33.9%-36.8% | -19.4%-22.9% |
| 3 Year | 7.2%-11.0% | -14.1%-26.2% | -8.3%-20.8% |
| 5 Year | -3.4%-29.6% | 9.4%-14.9% | 2.9%-20.3% |
Price Volatility Vs. Market
How volatile is Aspen Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 months ago | Simply Wall St
Should Aspen Group (ASX:APZ) Be Part Of Your Income Portfolio?7 months ago | Simply Wall St
The Aspen Group (ASX:APZ) Share Price Has Gained 14% And Shareholders Are Hoping For More7 months ago | Simply Wall St
Could The Aspen Group (ASX:APZ) Ownership Structure Tell Us Something Useful?Valuation
Is Aspen Group undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: APZ (A$0.89) is trading below our estimate of fair value (A$3.52)
Significantly Below Fair Value: APZ is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: APZ is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: APZ is unprofitable, so we can't compare its PE Ratio to the Australian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate APZ's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: APZ is good value based on its PB Ratio (0.7x) compared to the AU REITs industry average (0.8x).
Next Steps
Future Growth
How is Aspen Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
69.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: APZ is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).
Earnings vs Market: APZ is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: APZ's is expected to become profitable in the next 3 years.
Revenue vs Market: APZ's revenue is expected to decline over the next 3 years (-23.2% per year).
High Growth Revenue: APZ's revenue is forecast to decline over the next 3 years (-23.2% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: APZ's Return on Equity is forecast to be low in 3 years time (3.7%).
Next Steps
Past Performance
How has Aspen Group performed over the past 5 years?
48.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: APZ is currently unprofitable.
Growing Profit Margin: APZ is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: APZ is unprofitable, but has reduced losses over the past 5 years at a rate of 48.2% per year.
Accelerating Growth: Unable to compare APZ's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: APZ is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (1.7%).
Return on Equity
High ROE: APZ has a negative Return on Equity (-5.64%), as it is currently unprofitable.
Next Steps
Financial Health
How is Aspen Group's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: APZ has a high level of physical assets or inventory.
Debt Coverage by Assets: APZ's debt is not covered by short term assets (assets are 0.2x debt).
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable APZ has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: APZ is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -27.2% per year.
Financial Institutions Analysis
Asset Level: APZ's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if APZ has a sufficient allowance for bad loans.
Low Risk Liabilities: APZ reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if APZ has an acceptable proportion of non-loan assets held.
Low Risk Deposits: APZ has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if APZ has an appropriate level of bad loans.
Next Steps
Dividend
What is Aspen Group's current dividend yield, its reliability and sustainability?
6.18%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: APZ's dividend (6.18%) is higher than the bottom 25% of dividend payers in the Australian market (3.37%).
High Dividend: APZ's dividend (6.18%) is low compared to the top 25% of dividend payers in the Australian market (8.57%).
Stability and Growth of Payments
Stable Dividend: APZ's dividend payments have been volatile in the past 10 years.
Growing Dividend: APZ's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (57.9%), APZ's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: APZ's dividends in 3 years are forecast to be covered by earnings (80.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.5yrs
Average management tenure
CEO
John Carter (55yo)
1
Tenure
AU$199,347
Compensation
Mr. John Carter, MBA (Syd), BAppSc (Property Resource Mgmt) (UniSA), AAPI, GAICD, serves as Executive Director & Joint Chief Executive Officer at Aspen Group since March 14, 2019. Mr. Carter is a Managing ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Director & Joint CEO | 1yr | AU$199.35k | 0.022% A$18.5k | |
| Joint CEO | 1yr | no data | no data | |
| Group Financial Controller | no data | no data | no data | |
| Joint Company Secretary | 3.5yrs | no data | no data | |
| Joint Company Secretary | 3.5yrs | no data | no data | |
| Financial Accountant of Aspen Living Villages Business | 13.42yrs | no data | no data |
3.5yrs
Average Tenure
Experienced Management: APZ's management team is considered experienced (3.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Director & Joint CEO | 1yr | AU$199.35k | 0.022% A$18.5k | |
| Joint CEO | 1yr | no data | no data | |
| Independent Non-Executive Director | 7.33yrs | AU$93.62k | 0.16% A$133.9k | |
| Independent Non-Executive Chairman | 3.75yrs | AU$168.52k | 0.21% A$176.8k | |
| Alternate Director | 1.17yrs | no data | no data |
3.8yrs
Average Tenure
56yo
Average Age
Experienced Board: APZ's board of directors are considered experienced (3.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: APZ insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Aspen Group's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Aspen Group
- Ticker: APZ
- Exchange: ASX
- Founded: 2001
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: AU$85.726m
- Shares outstanding: 96.32m
- Website: https://www.aspengroup.com.au
Location
- Aspen Group
- 21 Oxford Street
- Bondi Junction
- New South Wales
- 2022
- Australia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| APZ | ASX (Australian Securities Exchange) | Yes | Stapled Securities | AU | AUD | Jun 1993 |
| AYV1 | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Jun 1993 |
| APZ | CHIA (Chi-X Australia) | Yes | Stapled Securities | AU | AUD | Jun 1993 |
Biography
Formed in 2001, Aspen Group is an ASX listed property group strategically focused on providing “value for money” accommodation. The accommodation sector is considered to have positive long term structural characteristics, with an enduring customer need and effective capital utilisation. Aspen has been a leading owner and manager of holiday and accommodation parks since 2004. Aspen currently owns 9 holiday and accommodation parks across Australia. An active acquisition programme is underway to expand the portfolio within the “value for money” accommodation sector.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/28 10:37 |
| End of Day Share Price | 2020/03/27 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/06/30 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.