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PPC

Peet ASX:PPC Stock Report

Last Price

AU$1.08

Market Cap

AU$546.8m

7D

1.4%

1Y

4.9%

Updated

29 Sep, 2022

Data

Company Financials
PPC fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health2/6
Dividends3/6

PPC Stock Overview

Peet Limited acquires, develops, and markets residential land in Australia.

Peet Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Peet
Historical stock prices
Current Share PriceAU$1.08
52 Week HighAU$1.21
52 Week LowAU$0.86
Beta0.59
1 Month Change-1.82%
3 Month Change12.50%
1 Year Change4.85%
3 Year Change-5.68%
5 Year Change-11.48%
Change since IPO-19.40%

Recent News & Updates

Shareholder Returns

PPCAU Real EstateAU Market
7D1.4%-4.6%-3.8%
1Y4.9%-19.7%-12.6%

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

Return vs Market: PPC exceeded the Australian Market which returned -12.6% over the past year.

Price Volatility

Is PPC's price volatile compared to industry and market?
PPC volatility
PPC Average Weekly Movement6.5%
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: PPC is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: PPC's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1895185Brendan Gorehttps://www.peet.com.au

Peet Limited acquires, develops, and markets residential land in Australia. It operates through Funds Management, Company-Owned Projects, and Joint Arrangements segments. The Funds Management segment provides underwriting, capital raising, and asset identification services.

Peet Fundamentals Summary

How do Peet's earnings and revenue compare to its market cap?
PPC fundamental statistics
Market CapAU$546.85m
Earnings (TTM)AU$52.32m
Revenue (TTM)AU$266.61m

9.8x

P/E Ratio

1.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PPC income statement (TTM)
RevenueAU$266.61m
Cost of RevenueAU$170.33m
Gross ProfitAU$96.28m
Other ExpensesAU$43.96m
EarningsAU$52.32m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.11
Gross Margin36.11%
Net Profit Margin19.62%
Debt/Equity Ratio59.3%

How did PPC perform over the long term?

See historical performance and comparison

Dividends

5.8%

Current Dividend Yield

58%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 PPC?

Other financial metrics that can be useful for relative valuation.

PPC 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/Revenue3.1x
Enterprise Value/EBITDA16x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

PPC PE Ratio vs Peers
The above table shows the PE ratio for PPC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.7x
CWP Cedar Woods Properties
8.8x2.2%AU$322.3m
SDG Sunland Group
3.4xn/aAU$326.5m
LIC Lifestyle Communities
18x19.1%AU$1.6b
FRI Finbar Group
16.5xn/aAU$182.3m
PPC Peet
9.8xn/aAU$546.8m

Price-To-Earnings vs Peers: PPC is good value based on its Price-To-Earnings Ratio (9.8x) compared to the peer average (11.7x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: PPC is good value based on its Price-To-Earnings Ratio (9.8x) compared to the Oceanic Real Estate industry average (10.4x)


Price to Earnings Ratio vs Fair Ratio

What is PPC'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.

PPC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.8x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: PPC (A$1.08) is trading below our estimate of fair value (A$9.83)

Significantly Below Fair Value: PPC is trading below fair value by more than 20%.


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.


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Future Growth

How is Peet 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 Peet 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 whether Peet is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Peet competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Peet performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-16.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PPC has high quality earnings.

Growing Profit Margin: PPC's current net profit margins (19.6%) are higher than last year (12.9%).


Past Earnings Growth Analysis

Earnings Trend: PPC's earnings have declined by 16.4% per year over the past 5 years.

Accelerating Growth: PPC's earnings growth over the past year (83.6%) exceeds its 5-year average (-16.4% per year).

Earnings vs Industry: PPC earnings growth over the past year (83.6%) exceeded the Real Estate industry 26.7%.


Return on Equity

High ROE: PPC's Return on Equity (9.2%) is considered low.


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Financial Health

How is Peet's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PPC's short term assets (A$303.7M) exceed its short term liabilities (A$121.8M).

Long Term Liabilities: PPC's short term assets (A$303.7M) do not cover its long term liabilities (A$305.8M).


Debt to Equity History and Analysis

Debt Level: PPC's net debt to equity ratio (49.5%) is considered high.

Reducing Debt: PPC's debt to equity ratio has increased from 54.8% to 59.3% over the past 5 years.

Debt Coverage: PPC's debt is not well covered by operating cash flow (13.8%).

Interest Coverage: PPC's interest payments on its debt are well covered by EBIT (16.5x coverage).


Balance Sheet


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Dividend

What is Peet current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


5.79%

Current Dividend Yield

Dividend Yield vs Market

Peet Dividend Yield vs Market
How does Peet dividend yield compare to the market?
SegmentDividend Yield
Company (Peet)5.8%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Real Estate)3.0%
Analyst forecast in 3 Years (Peet)n/a

Notable Dividend: PPC's dividend (5.79%) is higher than the bottom 25% of dividend payers in the Australian market (2.8%).

High Dividend: PPC's dividend (5.79%) is low compared to the top 25% of dividend payers in the Australian market (7.19%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (57.7%), PPC's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (66%), PPC's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

15.1yrs

Average management tenure


CEO

Brendan Gore

15.67yrs

Tenure

AU$3,161,123

Compensation

Mr. Brendan David Gore, B.Comm, FCPA, FCIS, FGIA, FAICD, has been the Managing Director and Chief Executive Officer of Peet Limited, the holding company of Peet Caboolture Syndicate Limited and Peet & Co C...


CEO Compensation Analysis

Brendan Gore's Compensation vs Peet Earnings
How has Brendan Gore's remuneration changed compared to Peet's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022AU$3mAU$914k

AU$52m

Mar 31 2022n/an/a

AU$46m

Dec 31 2021n/an/a

AU$39m

Sep 30 2021n/an/a

AU$34m

Jun 30 2021AU$2mAU$900k

AU$29m

Mar 31 2021n/an/a

AU$2m

Dec 31 2020n/an/a

-AU$25m

Sep 30 2020n/an/a

-AU$28m

Jun 30 2020AU$1mAU$885k

-AU$30m

Mar 31 2020n/an/a

-AU$278k

Dec 31 2019n/an/a

AU$29m

Sep 30 2019n/an/a

AU$39m

Jun 30 2019AU$2mAU$917k

AU$48m

Mar 31 2019n/an/a

AU$49m

Dec 31 2018n/an/a

AU$50m

Sep 30 2018n/an/a

AU$50m

Jun 30 2018AU$3mAU$917k

AU$49m

Mar 31 2018n/an/a

AU$48m

Dec 31 2017n/an/a

AU$47m

Sep 30 2017n/an/a

AU$46m

Jun 30 2017AU$3mAU$918k

AU$45m

Mar 31 2017n/an/a

AU$44m

Dec 31 2016n/an/a

AU$44m

Sep 30 2016n/an/a

AU$43m

Jun 30 2016AU$3mAU$918k

AU$43m

Compensation vs Market: Brendan's total compensation ($USD2.05M) is above average for companies of similar size in the Australian market ($USD897.98K).

Compensation vs Earnings: Brendan's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: PPC's management team is seasoned and experienced (15.1 years average tenure).


Board Members

Experienced Board: PPC's board of directors are seasoned and experienced ( 13 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:PPC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
04 Jul 22SellAU$7,204,222The Retail Employees Superannuation TrustCompany6,821,689AU$1.16
24 Jun 22BuyAU$43,950Anthony LennonIndividual50,000AU$0.88
08 Jun 22BuyAU$420,526Anthony LennonIndividual400,000AU$1.05
02 Jun 22BuyAU$5,642,567Regal Partners LimitedCompany1,321,178AU$4.27
01 Jun 22BuyAU$52,495Trevor AllenIndividual50,000AU$1.05
25 May 22SellAU$3,225,918Regal Partners LimitedCompany2,875,180AU$1.12
22 Mar 22BuyAU$2,680,932The Retail Employees Superannuation TrustCompany2,527,076AU$1.14
15 Oct 21BuyAU$9,028,176Regal Partners LimitedCompany8,762,754AU$1.03
06 Oct 21BuyAU$8,981,860The Retail Employees Superannuation TrustCompany8,424,758AU$1.23

Ownership Breakdown

What is the ownership structure of PPC?
Owner TypeNumber of SharesOwnership Percentage
Hedge Funds28,624,7606.0%
Private Companies28,671,2306.0%
General Public45,612,7879.6%
Individual Insiders139,585,95729.4%
Institutions233,037,09849.0%

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


Top Shareholders

Top 23 shareholders own 86.18% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
20.55%
Anthony Lennon
97,764,685A$105.6m0.46%no data
18.65%
Orbis Investment Management Limited
88,722,096A$95.8m0%0.29%
11.78%
L1 Capital Pty. Limited
56,044,349A$60.5m-24.43%2.42%
6.02%
Regal Partners Limited
28,624,760A$30.9m0%2.2%
4.83%
The Retail Employees Superannuation Trust
22,980,837A$24.8m-15.75%7.52%
4.29%
Eley Griffiths Group Pty Limited
20,406,898A$22.0m0%12.32%
3.82%
Argo Investments Limited
18,152,705A$19.6m0%0.38%
3.67%
Warwick Hemsley
17,459,881A$18.9m0%no data
1.82%
Golden Years Holdings Pty Ltd
8,656,230A$9.3m0%no data
1.73%
First Sentier Investors (Australia) IM Ltd
8,237,971A$8.9m0%0.01%
1.65%
Mirrabooka Investments Limited
7,850,000A$8.5m28.69%1.95%
1.53%
Dimensional Fund Advisors LP
7,259,460A$7.8m1.88%no data
1.52%
Brendan Gore
7,240,842A$7.8m36.45%no data
1.34%
Ian Palmer
6,353,676A$6.9m0%no data
1.34%
H. C. Palmer
6,353,676A$6.9m0%no data
0.7%
Netwealth Investments Ltd.
3,346,974A$3.6m-34.84%0.05%
0.28%
Anthony Lennon
1,331,344A$1.4m0%no data
0.27%
Peter Dumas
1,265,949A$1.4m16.37%no data
0.21%
Dom Scafetta
1,020,000A$1.1m0%no data
0.13%
Brett Fullarton
603,850A$652.2k0%no data
0.03%
Trevor Allen
142,054A$153.4k54.32%no data
0.011%
Robert McKinnon
50,000A$54.0k0%no data
0.0075%
American Century Investment Management Inc
35,808A$38.7k0%no data

Company Information

Peet Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Peet Limited
  • Ticker: PPC
  • Exchange: ASX
  • Founded: 1895
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Implied Market Cap: AU$546.849m
  • Shares outstanding: 475.52m
  • Website: https://www.peet.com.au

Number of Employees


Location

  • Peet Limited
  • 200 St Georges Terrace
  • Level 7
  • Perth
  • Western Australia
  • 6000
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PPCASX (Australian Securities Exchange)YesOrdinary SharesAUAUDAug 2004
PPCCHIA (Chi-X Australia)YesOrdinary SharesAUAUDAug 2004

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.