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FRI

Finbar Group ASX:FRI Stock Report

Last Price

AU$0.66

Market Cap

AU$182.3m

7D

3.1%

1Y

-18.5%

Updated

29 Sep, 2022

Data

Company Financials
FRI fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance3/6
Financial Health5/6
Dividends1/6

FRI Stock Overview

Finbar Group Limited, through its subsidiaries, develops and invests in properties in Australia.

Rewards

Earnings have grown 0.4% per year over the past 5 years

Risk Analysis

Dividend of 6.06% is not well covered by earnings or cash flows

Large one-off items impacting financial results


Finbar Group Competitors

Cedar Woods Properties

ASX:CWP

AU$322.3m

Peet

ASX:PPC

AU$546.8m

Sunland Group

ASX:SDG

AU$326.5m

Lifestyle Communities

ASX:LIC

AU$1.6b

Price History & Performance

Summary of all time highs, changes and price drops for Finbar Group
Historical stock prices
Current Share PriceAU$0.66
52 Week HighAU$0.87
52 Week LowAU$0.64
Beta0.66
1 Month Change-1.49%
3 Month Change-2.58%
1 Year Change-18.52%
3 Year Change-20.48%
5 Year Change-19.51%
Change since IPO120.00%

Recent News & Updates

Jul 08
Finbar Group (ASX:FRI) Has Affirmed Its Dividend Of AU$0.02

Finbar Group (ASX:FRI) Has Affirmed Its Dividend Of AU$0.02

Finbar Group Limited ( ASX:FRI ) has announced that it will pay a dividend of AU$0.02 per share on the 9th of...

Shareholder Returns

FRIAU Real EstateAU Market
7D3.1%-4.6%-3.8%
1Y-18.5%-19.7%-12.6%

Return vs Industry: FRI exceeded the Australian Real Estate industry which returned -19.7% over the past year.

Return vs Market: FRI underperformed the Australian Market which returned -12.6% over the past year.

Price Volatility

Is FRI's price volatile compared to industry and market?
FRI volatility
FRI Average Weekly Movement4.8%
Real Estate Industry Average Movement5.9%
Market Average Movement9.6%
10% most volatile stocks in AU Market16.8%
10% least volatile stocks in AU Market4.2%

Stable Share Price: FRI is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FRI's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1984n/aDarren Patemanhttps://www.finbar.com.au

Finbar Group Limited, through its subsidiaries, develops and invests in properties in Australia. It engages in the development of medium to high density residential buildings and commercial properties, as well as rents its properties. The company was incorporated in 1984 and is based in East Perth, Australia.

Finbar Group Fundamentals Summary

How do Finbar Group's earnings and revenue compare to its market cap?
FRI fundamental statistics
Market CapAU$182.32m
Earnings (TTM)AU$10.91m
Revenue (TTM)AU$90.29m

16.5x

P/E Ratio

2.0x

P/S Ratio

Is FRI overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
FRI income statement (TTM)
RevenueAU$90.29m
Cost of RevenueAU$70.05m
Gross ProfitAU$20.24m
Other ExpensesAU$9.34m
EarningsAU$10.91m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.04
Gross Margin22.42%
Net Profit Margin12.08%
Debt/Equity Ratio35.1%

How did FRI perform over the long term?

See historical performance and comparison

Dividends

6.1%

Current Dividend Yield

100%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FRI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FRI?

Other financial metrics that can be useful for relative valuation.

FRI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.6x
Enterprise Value/EBITDA28.9x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does FRI's PE Ratio compare to its peers?

FRI PE Ratio vs Peers
The above table shows the PE ratio for FRI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.1x
CWP Cedar Woods Properties
8.8x2.2%AU$322.3m
PPC Peet
9.8xn/aAU$546.8m
SDG Sunland Group
3.4xn/aAU$326.5m
LIC Lifestyle Communities
18x19.1%AU$1.6b
FRI Finbar Group
16.5xn/aAU$182.3m

Price-To-Earnings vs Peers: FRI is expensive based on its Price-To-Earnings Ratio (16.5x) compared to the peer average (10.1x).

Price to Earnings Ratio vs Industry

How does FRI's PE Ratio compare vs other companies in the Oceanian Real Estate Industry?

Price-To-Earnings vs Industry: FRI is expensive based on its Price-To-Earnings Ratio (16.5x) compared to the Oceanic Real Estate industry average (10.4x)

Price to Earnings Ratio vs Fair Ratio

What is FRI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FRI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FRI's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of FRI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FRI (A$0.66) is trading above our estimate of fair value (A$0.48)

Significantly Below Fair Value: FRI is trading above our estimate of fair value.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE

27.0%

Forecasted Real Estate industry annual growth in earnings

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

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

Discover growth companies

  • Examine Finbar Group's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • Finbar Group competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Finbar Group performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE

0.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FRI has a large one-off gain of A$7.5M impacting its June 30 2022 financial results.

Growing Profit Margin: FRI's current net profit margins (12.1%) are higher than last year (8.7%).

Past Earnings Growth Analysis

Earnings Trend: FRI's earnings have grown by 0.4% per year over the past 5 years.

Accelerating Growth: FRI's earnings growth over the past year (23.3%) exceeds its 5-year average (0.4% per year).

Earnings vs Industry: FRI earnings growth over the past year (23.3%) underperformed the Real Estate industry 26.7%.

Return on Equity

High ROE: FRI's Return on Equity (4.5%) is considered low.

Discover strong past performing companies

Financial Health

How is Finbar Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FRI's short term assets (A$73.2M) exceed its short term liabilities (A$36.9M).

Long Term Liabilities: FRI's short term assets (A$73.2M) exceed its long term liabilities (A$66.7M).

Debt to Equity History and Analysis

Debt Level: FRI's net debt to equity ratio (21.2%) is considered satisfactory.

Reducing Debt: FRI's debt to equity ratio has reduced from 69.9% to 35.1% over the past 5 years.

Debt Coverage: FRI's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: FRI earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Finbar Group current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

6.06%

Current Dividend Yield

Dividend Yield vs Market

Finbar Group Dividend Yield vs Market
How does Finbar Group dividend yield compare to the market?
SegmentDividend Yield
Company (Finbar Group)6.1%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Real Estate)3.0%
Analyst forecast in 3 Years (Finbar Group)n/a

Notable Dividend: FRI's dividend (6.06%) is higher than the bottom 25% of dividend payers in the Australian market (2.8%).

High Dividend: FRI's dividend (6.06%) is low compared to the top 25% of dividend payers in the Australian market (7.19%).

Stability and Growth of Payments

Stable Dividend: FRI's dividend payments have been volatile in the past 10 years.

Growing Dividend: FRI's dividend payments have fallen over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (99.8%), FRI's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: FRI is paying a dividend but the company has no free cash flows.

Discover strong dividend paying companies

Management

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

12.2yrs

Average management tenure

CEO

Darren Pateman (53 yo)

13.83yrs

Tenure

AU$1,001,826

Compensation

Mr. Darren John Pateman, EMBA, GradDipACG, ACSA, AGIA, MAICD, AFAIM, has been Managing Director of Finbar Group Limited since July 15, 2010. Mr. Pateman has been the Managing Director of 406 & 407 Newcastl...

CEO Compensation Analysis

Darren Pateman's Compensation vs Finbar Group Earnings
How has Darren Pateman's remuneration changed compared to Finbar Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$1mAU$738k

AU$11m

Mar 31 2022n/an/a

AU$13m

Dec 31 2021n/an/a

AU$14m

Sep 30 2021n/an/a

AU$12m

Jun 30 2021AU$876kAU$664k

AU$9m

Mar 31 2021n/an/a

AU$7m

Dec 31 2020n/an/a

AU$4m

Sep 30 2020n/an/a

AU$6m

Jun 30 2020AU$926kAU$669k

AU$7m

Mar 31 2020n/an/a

AU$11m

Dec 31 2019n/an/a

AU$16m

Sep 30 2019n/an/a

AU$14m

Jun 30 2019AU$980kAU$670k

AU$11m

Mar 31 2019n/an/a

AU$14m

Dec 31 2018n/an/a

AU$16m

Sep 30 2018n/an/a

AU$15m

Jun 30 2018AU$1mAU$670k

AU$14m

Mar 31 2018n/an/a

AU$11m

Dec 31 2017n/an/a

AU$8m

Sep 30 2017n/an/a

AU$7m

Jun 30 2017AU$801kAU$529k

AU$5m

Mar 31 2017n/an/a

AU$2m

Dec 31 2016n/an/a

-AU$933k

Sep 30 2016n/an/a

AU$4m

Jun 30 2016AU$826kAU$539k

AU$9m

Compensation vs Market: Darren's total compensation ($USD649.44K) is above average for companies of similar size in the Australian market ($USD272.76K).

Compensation vs Earnings: Darren's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: FRI's management team is seasoned and experienced (12.2 years average tenure).

Board Members

Experienced Board: FRI's board of directors are seasoned and experienced ( 12.3 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: FRI insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

ASX:FRI Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
02 Sep 22BuyAU$1,019,264Forward International Pty LtdCompany1,788,187AU$0.57
01 Sep 22BuyAU$6,737,758Calogero RubinoIndividual11,807,642AU$0.57
01 Sep 22SellAU$13,719,579Wilson Asset Management (International) Pty LimitedCompany23,615,000AU$0.82
24 Jun 22BuyAU$32,000Ronald ChanIndividual50,000AU$0.64
24 Jun 22BuyAU$32,000John ChanIndividual50,000AU$0.64
22 Jun 22BuyAU$431,002Ronald ChanIndividual653,035AU$0.66
15 Jun 22BuyAU$34,000Forward International Pty LtdCompany50,000AU$0.68
07 Jun 22BuyAU$35,503Forward International Pty LtdCompany50,000AU$0.71
23 May 22BuyAU$36,000Forward International Pty LtdCompany50,000AU$0.72
19 May 22BuyAU$36,500Forward International Pty LtdCompany50,000AU$0.73
17 May 22SellAU$531,136Thorney International Pty LtdCompany280,158AU$0.75
16 May 22BuyAU$37,000Forward International Pty LtdCompany50,000AU$0.74
12 May 22BuyAU$32,291Forward International Pty LtdCompany43,055AU$0.75
11 May 22BuyAU$5,209Ronald ChanIndividual6,945AU$0.75
09 May 22BuyAU$37,500Forward International Pty LtdCompany50,000AU$0.75
06 May 22BuyAU$15,921Forward International Pty LtdCompany20,677AU$0.77
20 Apr 22BuyAU$9,006Forward International Pty LtdCompany11,696AU$0.77
13 Apr 22BuyAU$5,049Forward International Pty LtdCompany6,557AU$0.77
13 Apr 22BuyAU$5,049Forward International Pty LtdCompany6,557AU$0.77
11 Apr 22BuyAU$821Forward International Pty LtdCompany1,066AU$0.77
08 Apr 22BuyAU$7,703Forward International Pty LtdCompany10,004AU$0.77
01 Dec 21BuyAU$14,184Ronald ChanIndividual18,185AU$0.78
01 Dec 21BuyAU$14,184John ChanIndividual18,185AU$0.78
30 Nov 21BuyAU$24,816Ronald ChanIndividual31,815AU$0.78
30 Nov 21BuyAU$24,816John ChanIndividual31,815AU$0.78
10 Nov 21BuyAU$27,516Ronald ChanIndividual33,971AU$0.81
10 Nov 21BuyAU$27,516Forward International Pty LtdCompany33,971AU$0.81
09 Nov 21BuyAU$12,858Forward International Pty LtdCompany15,681AU$0.82
09 Nov 21BuyAU$12,858Forward International Pty LtdCompany15,681AU$0.82
08 Nov 21BuyAU$285Forward International Pty LtdCompany348AU$0.82
03 Nov 21BuyAU$38,871Forward International Pty LtdCompany46,275AU$0.84
01 Nov 21BuyAU$3,092Forward International Pty LtdCompany3,725AU$0.83
29 Oct 21BuyAU$124,756Forward International Pty LtdCompany150,000AU$0.83
27 Oct 21BuyAU$42,104Ronald ChanIndividual50,000AU$0.84
27 Oct 21BuyAU$42,104John ChanIndividual50,000AU$0.84
26 Oct 21BuyAU$126,233John ChanIndividual150,000AU$0.84
26 Oct 21BuyAU$126,233Ronald ChanIndividual150,000AU$0.84
25 Oct 21BuyAU$30,871Ronald ChanIndividual35,920AU$0.86
25 Oct 21BuyAU$30,871John ChanIndividual35,920AU$0.86
21 Oct 21BuyAU$62,413John ChanIndividual73,028AU$0.85
21 Oct 21BuyAU$62,413Ronald ChanIndividual73,028AU$0.85
20 Oct 21BuyAU$14,428John ChanIndividual16,915AU$0.85
19 Oct 21BuyAU$62,711John ChanIndividual74,137AU$0.85
19 Oct 21BuyAU$62,711Ronald ChanIndividual74,137AU$0.85

Ownership Breakdown

What is the ownership structure of FRI?
Owner TypeNumber of SharesOwnership Percentage
Institutions25,031,5829.2%
Individual Insiders50,103,15718.4%
General Public84,531,31931.1%
Private Companies112,457,08441.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 68.82% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
23.47%
Kai Xin Guo Pte Ltd.
63,871,363A$42.2m14.32%no data
7.25%
Calogero Rubino
19,720,000A$13.0m149.23%no data
5.98%
Thorney International Pty Ltd
16,261,217A$10.7m0%no data
4.69%
Forward International Pty Ltd
12,754,010A$8.4m16.31%no data
4.26%
Thorney Investment Group Australia Pty. Ltd.
11,604,319A$7.7m-59.09%2.74%
2.82%
Blair Park Pty. Ltd.
7,685,726A$5.1m0%no data
2.44%
3rd Wave Investors Ltd
6,650,000A$4.4m2.31%6.86%
2.3%
John Chan
6,271,270A$4.1m-63.87%no data
1.84%
Hanssen Pty Ltd
5,000,000A$3.3m0%no data
1.77%
Eng Mah Siew
4,820,000A$3.2m0%no data
1.68%
Siong Woon Peh
4,560,480A$3.0m0%no data
1.34%
Apex Investments Pty. Ltd.
3,645,446A$2.4m0%no data
1.33%
Darren Pateman
3,632,493A$2.4m0%no data
1.16%
Milton Corporation Limited
3,163,226A$2.1m-13.16%0.13%
1.16%
Hwa Ah
3,155,770A$2.1m0%no data
1.06%
Xian Yi
2,892,126A$1.9m0%no data
1.01%
Denshir Pty Ltd
2,739,322A$1.8m0%no data
0.89%
Soon Wan
2,435,137A$1.6m0%no data
0.74%
Kee Kong Loh
2,000,904A$1.3m0%no data
0.57%
Renaissance Property Securities Pty Ltd.
1,543,533A$1.0m0%0.39%
0.42%
Zurich Investment Management Limited
1,136,774A$750.3k0%0.1%
0.22%
Dimensional Fund Advisors LP
611,150A$403.4k0.01%no data
0.18%
Alex Waislitz Retirement plan
500,000A$330.0k0%no data
0.12%
Waislitz Family Foundation, Endowment Arm
322,580A$212.9k0%17.81%
0.11%
Edward Bank
300,000A$198.0k0%no data

Company Information

Finbar Group Limited's employee growth, exchange listings and data sources

Key Information

  • Name: Finbar Group Limited
  • Ticker: FRI
  • Exchange: ASX
  • Founded: 1984
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: AU$182.323m
  • Shares outstanding: 272.12m
  • Website: https://www.finbar.com.au

Location

  • Finbar Group Limited
  • 181 Adelaide Terrace
  • Level 6
  • East Perth
  • Western Australia
  • 6004
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRIASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJan 1992
FRICHIA (Chi-X Australia)YesOrdinary SharesAUAUDJan 1992

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


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.