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LendLease Group

ASX:LLC
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LLC
ASX
A$7B
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

LendLease Group provides property and infrastructure solutions in Australia, Asia, Europe, and the Americas. The last earnings update was 53 days ago. More info.


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LLC Share Price and Events
7 Day Returns
3%
ASX:LLC
0.5%
AU Real Estate
0.3%
AU Market
1 Year Returns
-28.8%
ASX:LLC
-23.4%
AU Real Estate
5.2%
AU Market
LLC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
LendLease Group (LLC) 3% 3.5% 4.3% -28.8% 2.3% -1.6%
AU Real Estate 0.5% 0.2% 5.7% -23.4% -8.7% -2.7%
AU Market 0.3% 1% 7.2% 5.2% 19.2% 4.9%
1 Year Return vs Industry and Market
  • LLC underperformed the Real Estate industry which returned -23.4% over the past year.
  • LLC underperformed the Market in Australia which returned 5.2% over the past year.
Price Volatility
LLC
Industry
5yr Volatility vs Market

LLC Value

 Is LendLease 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 LendLease 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 LendLease Group.

ASX:LLC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.1%
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:LLC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.096 (1 + (1- 30%) (47.23%))
1.307
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.307 * 5.96%)
10.1%

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

The calculations below outline how an intrinsic value for LendLease 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:LLC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 10.1%)
2019 -311.33 Analyst x3 -282.77
2020 373.50 Analyst x2 308.11
2021 667.00 Analyst x2 499.74
2022 935.20 Est @ 40.21% 636.40
2023 1,204.92 Est @ 28.84% 744.71
2024 1,456.54 Est @ 20.88% 817.62
2025 1,679.55 Est @ 15.31% 856.31
2026 1,871.21 Est @ 11.41% 866.49
2027 2,033.66 Est @ 8.68% 855.32
2028 2,171.36 Est @ 6.77% 829.44
Present value of next 10 years cash flows A$6,131.36
ASX:LLC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$2,171.36 × (1 + 2.31%) ÷ (10.1% – 2.31%)
A$28,518.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$28,518.56 ÷ (1 + 10.1%)10
A$10,893.82
ASX:LLC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$6,131.36 + A$10,893.82
A$17,025.19
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$17,025.19 / 560.43
A$30.38
ASX:LLC Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$30.38
Current discount Discount to share price of A$12.80
= -1 x (A$12.80 - A$30.38) / A$30.38
57.9%

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

Current Discount
Amount off the current price LendLease Group is available for.
Intrinsic value
>50%
Share price is A$12.8 vs Future cash flow value of A$30.38
Current Discount Checks
For LendLease Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • LendLease Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • LendLease 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 LendLease Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are LendLease Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:LLC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.67
ASX:LLC Share Price ** ASX (2019-04-18) in AUD A$12.8
Australia Real Estate Industry PE Ratio Median Figure of 23 Publicly-Listed Real Estate Companies 9.97x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.05x

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

** Primary Listing of LendLease Group.

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

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

= 12.8 ÷ 0.67

19.13x

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

  • LendLease Group is overvalued based on earnings compared to the AU Real Estate industry average.
  • LendLease Group is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does LendLease Group's expected growth come at a high price?
Raw Data
ASX:LLC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
27.7%per year
Australia Real Estate Industry PEG Ratio Median Figure of 10 Publicly-Listed Real Estate Companies 0.63x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.13x ÷ 27.7%

0.69x

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

  • LendLease Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on LendLease Group's assets?
Raw Data
ASX:LLC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$10.77
ASX:LLC Share Price * ASX (2019-04-18) in AUD A$12.8
Australia Real Estate Industry PB Ratio Median Figure of 37 Publicly-Listed Real Estate Companies 0.95x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.69x
ASX:LLC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 12.8 ÷ 10.77

1.19x

* Primary Listing of LendLease Group.

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

  • LendLease Group is overvalued based on assets compared to the AU Real Estate industry average.
X
Value checks
We assess LendLease 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. LendLease Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LLC Future Performance

 How is LendLease Group expected to perform in the next 1 to 3 years based on estimates from 9 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
27.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is LendLease Group expected to grow at an attractive rate?
  • LendLease Group's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • LendLease Group's earnings growth is expected to exceed the Australia market average.
  • LendLease Group's revenues are expected to decrease over the next 1-3 years, this is below the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:LLC Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:LLC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 27.7%
ASX:LLC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts -0.4%
Australia Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 14.6%
Australia Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 0.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.6%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
ASX:LLC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:LLC Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 17,462 613 1
2022-06-30 15,103 458 1
2021-06-30 16,913 710 768 7
2020-06-30 16,704 635 652 7
2019-06-30 17,194 461 460 7
ASX:LLC Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 15,627 -1,092 383
2018-09-30 16,091 -510 588
2018-06-30 16,556 73 793
2018-03-31 16,981 315 791
2017-12-31 17,405 557 789
2017-09-30 17,032 351 774
2017-06-30 16,659 146 759
2017-03-31 16,176 364 749
2016-12-31 15,694 582 739
2016-09-30 15,391 717 719
2016-06-30 15,089 853 698
2016-03-31 14,906 692 678

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • LendLease Group's earnings are expected to grow significantly at over 20% yearly.
  • LendLease Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:LLC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from LendLease Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:LLC Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 1.36 1.61 1.07 5.00
2020-06-30 1.16 1.36 0.87 7.00
2019-06-30 0.82 0.84 0.80 6.00
ASX:LLC Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.67
2018-09-30 1.02
2018-06-30 1.37
2018-03-31 1.37
2017-12-31 1.38
2017-09-30 1.37
2017-06-30 1.35
2017-03-31 1.34
2016-12-31 1.33
2016-09-30 1.30
2016-06-30 1.26
2016-03-31 1.23

*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.
  • LendLease Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess LendLease 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.
LendLease Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LLC Past Performance

  How has LendLease 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 LendLease Group's growth in the last year to its industry (Real Estate).
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.
  • LendLease Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • LendLease Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • LendLease Group's 1-year earnings growth is negative, it can't be compared to the AU Real Estate industry average.
Earnings and Revenue History
LendLease 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 LendLease Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:LLC 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 15,626.60 382.90 91.00
2018-09-30 16,091.35 587.85 91.85
2018-06-30 16,556.10 792.80 92.70
2018-03-31 16,980.50 791.10 94.35
2017-12-31 17,404.90 789.40 96.00
2017-09-30 17,031.95 774.00 97.65
2017-06-30 16,659.00 758.60 99.30
2017-03-31 16,176.40 748.90 93.30
2016-12-31 15,693.80 739.20 87.30
2016-09-30 15,391.15 718.70 86.10
2016-06-30 15,088.50 698.20 84.90
2016-03-31 14,905.80 677.50 86.30
2015-12-31 14,723.10 656.80 87.70
2015-09-30 14,002.00 637.70 86.00
2015-06-30 13,280.90 618.60 84.30
2015-03-31 13,303.95 752.75 84.90
2014-12-31 13,327.00 886.90 85.50
2014-09-30 13,631.45 854.90 83.40
2014-06-30 13,935.90 822.90 81.30
2014-03-31 13,425.80 661.30 102.90
2013-12-31 12,915.70 499.70 124.50
2013-09-30 13,039.15 524.35 103.80
2013-06-30 13,162.60 549.00 83.10
2013-03-31 12,612.60 567.35
2012-12-31 12,512.70 584.50
2012-09-30 12,030.10 542.95
2012-06-30 11,547.50 501.40

*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.
  • LendLease Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • LendLease Group used its assets less efficiently than the AU Real Estate industry average last year based on Return on Assets.
  • It is difficult to establish if LendLease Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess LendLease 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 Real Estate 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.
LendLease Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LLC Health

 How is LendLease 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 LendLease Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • LendLease Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • LendLease Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of LendLease 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.9x 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 LendLease Group Company Filings, last reported 3 months ago.

ASX:LLC Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,106.80 3,364.10 1,088.10
2018-09-30 6,106.80 3,364.10 1,088.10
2018-06-30 6,414.20 2,358.90 1,177.10
2018-03-31 6,414.20 2,358.90 1,177.10
2017-12-31 6,429.10 1,792.50 1,545.20
2017-09-30 6,429.10 1,792.50 1,545.20
2017-06-30 6,166.50 2,162.00 1,280.60
2017-03-31 6,166.50 2,162.00 1,280.60
2016-12-31 5,947.20 1,846.60 1,055.40
2016-09-30 5,947.20 1,846.60 1,055.40
2016-06-30 5,614.70 2,060.80 1,044.50
2016-03-31 5,614.70 2,060.80 1,044.50
2015-12-31 5,374.20 2,643.70 607.40
2015-09-30 5,374.20 2,643.70 607.40
2015-06-30 5,168.20 2,508.60 788.00
2015-03-31 5,168.20 2,508.60 788.00
2014-12-31 4,954.40 2,603.00 813.30
2014-09-30 4,954.40 2,603.00 813.30
2014-06-30 4,868.80 2,438.40 1,753.90
2014-03-31 4,868.80 2,438.40 1,753.90
2013-12-31 4,468.90 2,717.50 1,105.10
2013-09-30 4,468.90 2,717.50 1,105.10
2013-06-30 4,266.80 2,246.20 1,683.00
2013-03-31 4,329.30 2,246.20 1,611.90
2012-12-31 4,099.00 1,722.00 1,060.20
2012-09-30 4,099.00 1,722.00 1,060.20
2012-06-30 3,911.20 1,632.00 1,029.00
  • LendLease Group's level of debt (55.1%) 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 (60.7% vs 55.1% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on LendLease Group's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess LendLease 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. LendLease Group has a total score of 3/6, 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.

LLC Dividends

 What is LendLease 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
3.67%
Current annual income from LendLease Group dividends. Estimated to be 4.37% next year.
If you bought A$2,000 of LendLease Group shares you are expected to receive A$73 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?
  • LendLease Group's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.57%).
  • LendLease Group's dividend is below the markets top 25% of dividend payers in Australia (5.72%).
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:LLC 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 9 Analyst Estimates (S&P Global) See Below
Australia Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 4.3%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.6%
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:LLC Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.62 1.00
2022-06-30 0.48 1.00
2021-06-30 0.69 8.00
2020-06-30 0.60 10.00
2019-06-30 0.42 10.00
ASX:LLC Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-25 0.470 3.741
2018-08-21 0.700 4.794
2018-02-20 0.680 3.625
2017-08-28 0.660 4.001
2017-02-27 0.660 4.068
2016-08-18 0.600 4.300
2016-02-16 0.570 4.322
2015-08-24 0.540 4.172
2014-08-26 0.710 4.509
2013-08-22 0.420 3.613
2013-02-18 0.440 4.559
2012-08-30 0.380 4.324
2011-08-26 0.350 4.671
2011-02-17 0.320 3.664
2010-08-16 0.320 4.095
2010-03-01 0.360 4.559
2009-08-20 0.320 3.298
2009-04-20 0.590 8.018

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.
Current Payout to shareholders
What portion of LendLease Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess LendLease Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can LendLease Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. LendLease Group 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.

LLC Management

 What is the CEO of LendLease 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
Steve McCann
COMPENSATION A$6,370,000
AGE 53
TENURE AS CEO 10.3 years
CEO Bio

Mr. Stephen B. McCann, also known as Steve, has been Group Chief Executive Officer of LendLease Group (alternate name: Lend Lease Corporation Limited) since December 16, 2008 and has been its Group Managing Director and Executive Director since March 4, 2009. Mr. McCann is a highly regarded and experienced business leader with more than 25 years’ executive experience. Mr. McCann had 15 years’ experience in property, funds management, investment banking and capital markets transactions gained through senior leadership roles at ABN AMRO and as Head of Property at Bankers Trust. He served as Group Finance Director of Lend Lease from March 2007 to December 2007 and served as its Chief Executive Officer of Investment Management since September 2005 to December 2007. He joined Lend ease in 2005. He served as Group Finance Director of Lend Lease Investment Management. Prior to joining Lend Lease, he spent six years at ABN AMRO, where his roles included Head of Property, Head of Industrial Mergers & Acquisitions and for the last three years, Head of Equity Capital Markets for Australia and New Zealand. His previous roles include Head of Property at Bankers’ Trust and a role in property corporate finance at Ord Minnett (now JP Morgan). Prior to that, he practised as a mergers & acquisitions lawyer at Freehills, Melbourne for four years. He spent four years in a Chartered Accounting firm (now Deloittes) in taxation accounting. He is a member of the Business Council of Australia and the Property Council of Australia’s Property Male Champions of Change. In 2013 he was announced as the Property Person of the Year by the Urban Taskforce Australia. He holds a Bachelor of Economics degree in Finance and a Bachelor of Laws degree from Monash University in Melbourne, Australia.

CEO Compensation
  • Steve's compensation has been consistent with company performance over the past year.
  • Steve's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the LendLease Group management team in years:

3.1
Average Tenure
53
Average Age
  • The tenure for the LendLease Group management team is about average.
Management Team

Steve McCann

TITLE
Group CEO
COMPENSATION
A$6M
AGE
53
TENURE
10.3 yrs

Tarun Gupta

TITLE
Group Chief Financial Officer
COMPENSATION
A$3M
TENURE
2.9 yrs

Dan Labbad

TITLE
Chief Executive Officer of Europe
COMPENSATION
A$3M
TENURE
4.7 yrs

David Wilson

TITLE
Group Chief Commercial and Risk Officer
COMPENSATION
A$2M
AGE
57
TENURE
1.3 yrs

Hans Dekker

TITLE
Group Head of Engineering & Building
COMPENSATION
A$2M
TENURE
0.9 yrs

Tony Lombardo

TITLE
Chief Executive Officer of Asia
COMPENSATION
A$3M
TENURE
2.9 yrs

Denis Hickey

TITLE
Chief Executive Officer of Americas
COMPENSATION
A$3M
AGE
53

Kylie Rampa

TITLE
Chief Executive Officer of Property Australia
COMPENSATION
A$2M
AGE
52

Justin McCarthy

TITLE
Head of Investor Relations
TENURE
3.3 yrs

Karen Pedersen

TITLE
Group General Counsel
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure and age of the LendLease Group board of directors in years:

4.3
Average Tenure
63
Average Age
  • The tenure for the LendLease Group board of directors is about average.
Board of Directors

Michael Ullmer

TITLE
Chairman of the Board
COMPENSATION
A$299K
AGE
67
TENURE
0.4 yrs

Steve McCann

TITLE
Group CEO
COMPENSATION
A$6M
AGE
53
TENURE
10.1 yrs

Jane Hemstritch

TITLE
Independent Non-Executive Director
COMPENSATION
A$281K
AGE
64
TENURE
7.6 yrs

David Craig

TITLE
Non-Executive Director
COMPENSATION
A$281K
AGE
63
TENURE
3.1 yrs

Colin Carter

TITLE
Independent Non-Executive Director
COMPENSATION
A$323K
AGE
75
TENURE
7 yrs

Nicola M. Evans

TITLE
Non-Executive Director
COMPENSATION
A$287K
AGE
57
TENURE
5.6 yrs

Steve Dobbs

TITLE
Independent Non-Executive Director
COMPENSATION
A$327K
AGE
61
TENURE
4.3 yrs

Phil Coffey

TITLE
Independent Non-Executive Director
COMPENSATION
A$251K
AGE
61
TENURE
2.3 yrs

Elizabeth Proust

TITLE
Independent Non-Executive Director
COMPENSATION
A$86K
AGE
67
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
22. Nov 18 Buy Nicola M. Evans Individual 19. Nov 18 19. Nov 18 13,000 A$13.55 A$173,475
22. Nov 18 Buy Stephen McCann Individual 19. Nov 18 19. Nov 18 70,000 A$13.30 A$931,280
22. Nov 18 Buy David Craig Individual 19. Nov 18 19. Nov 18 25,130 A$13.30 A$334,204
22. Nov 18 Buy Michael Ullmer Individual 19. Nov 18 19. Nov 18 50,000 A$13.36 A$667,800
22. Nov 18 Buy Elizabeth Proust Individual 19. Nov 18 19. Nov 18 10,000 A$13.52 A$135,200
06. Sep 18 Sell Stephen McCann Individual 03. Sep 18 05. Sep 18 -299,504 A$20.42 A$-5,985,904
28. Aug 18 Buy Elizabeth Proust Individual 24. Aug 18 24. Aug 18 5,000 A$20.25 A$101,250
X
Management checks
We assess LendLease 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. LendLease 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.

LLC News

Simply Wall St News

Is LendLease Group's (ASX:LLC) CEO Being Overpaid?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Steve McCann's Compensation Compare With Similar Sized Companies. … Our data indicates that LendLease Group is worth AU$6.9b, and total annual CEO compensation is AU$6.4m.

Simply Wall St -

Is LendLease Group's (ASX:LLC) High P/E Ratio A Problem For Investors?

To keep it practical, we'll show how LendLease Group's (ASX:LLC) P/E ratio could help you assess the value on offer. … Based on the last twelve months, LendLease Group's P/E ratio is 18.16. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

If You Had Bought LendLease Group (ASX:LLC) Stock A Year Ago, You'd Be Sitting On A 28% Loss, Today

While not a mind-blowing move, it is good to see that the LendLease Group (ASX:LLC) share price has gained 11% in the last three months. … But in truth the last year hasn't been good for the share price. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

Simply Wall St -

What You Must Know About LendLease Group's (ASX:LLC) Financial Health

Mid-caps stocks, like LendLease Group (ASX:LLC) with a market capitalization of AU$7.9b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … This article will examine LLC’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Check out our latest analysis for LendLease Group

Simply Wall St -

LendLease Group (ASX:LLC): Poised For Long-Term Success?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … The latest earnings announcement LendLease Group (ASX:LLC) released in June 2018a

Simply Wall St -

Why LendLease Group (ASX:LLC) Looks Like A Quality Company

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

LendLease Group (ASX:LLC) Is Trading At A 44.1% Discount

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Could The LendLease Group (ASX:LLC) Ownership Structure Tell Us Something Useful?

Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that. … Check out our latest analysis for LendLease Group

Simply Wall St -

LendLease Group (ASX:LLC) Insiders Have Been Selling

So we'll take a look at whether insiders have been buying or selling shares in LendLease Group (ASX:LLC). … LendLease Group Insider Transactions Over The Last Year. … Group CEO Stephen McCann made the biggest insider sale in the last 12 months.

Simply Wall St -

How Does LendLease Group's (ASX:LLC) Earnings Growth Stack Up Against Industry Performance?

Today I will examine LendLease Group's (ASX:LLC) latest earnings update (30 June 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of LLC's industry performed. … LLC's trailing twelve-month earnings (from 30 June 2018) of AU$793m has. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 4.8%, indicating the rate at which LLC is growing has slowed down

Simply Wall St -

LLC Company Info

Description

LendLease Group provides property and infrastructure solutions in Australia, Asia, Europe, and the Americas. The company operates through three segments: Development, Construction, and Investments. The Development segment develops communities, inner city mixed use developments, apartments, retirement, retail, commercial assets, and social and economic infrastructure. The Construction segment provides project management, design, and construction services primarily in the infrastructure, defense, mixed use, commercial, and residential sectors. The Investments segment owns and/or manages investments, including property and infrastructure co-investments, retirement livings, and the U.S. military housings. LendLease Group was founded in 1958 and is headquartered in Sydney, Australia.

Details
Name: LendLease Group
LLC
Exchange: ASX
Founded: 1958
A$7,123,078,925
560,431,072
Website: http://www.lendlease.com
Address: LendLease Group
Tower Three, International Towers Sydney,
Level 14,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX LLC Stapled Securities Australian Securities Exchange AU AUD 02. Jan 1989
OTCPK LLES.F Stapled Securities Pink Sheets LLC US USD 02. Jan 1989
DB LLC Stapled Securities Deutsche Boerse AG DE EUR 02. Jan 1989
CHIA LLC Stapled Securities Chi-X Australia AU AUD 02. Jan 1989
OTCPK LLES.Y SPONSORED ADR Pink Sheets LLC US USD 24. Feb 2003
Number of employees
Current staff
Staff numbers
13,000
LendLease Group employees.
Industry
Diversified Real Estate Activities
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 10:31
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
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.