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BAP

BapcorASX:BAP Stock Report

Market Cap

AU$2.7b

7D

-1.1%

1Y

-0.1%

Updated

27 Oct, 2021

Data

Company Financials +
BAP fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance5/6
Financial Health6/6
Dividends3/6

BAP Overview

Bapcor Limited sells and distributes automotive aftermarket parts, accessories, equipment, and services and solutions in Australia, New Zealand, and Thailand.

Bapcor Competitors

ARB

ASX:ARB

AU$4.1b

Eagers Automotive

ASX:APE

AU$4.0b

Super Retail Group

ASX:SUL

AU$3.0b

GUD Holdings

ASX:GUD

AU$1.1b

Price History & Performance

Summary of all time highs, changes and price drops for Bapcor
Historical stock prices
Current Share PriceAU$7.98
52 Week HighAU$6.69
52 Week LowAU$8.60
Beta0.67
1 Month Change5.14%
3 Month Change-2.33%
1 Year Change-0.13%
3 Year Change16.84%
5 Year Change59.28%
Change since IPO289.27%

Recent News & Updates

Oct 12
It's Unlikely That Bapcor Limited's (ASX:BAP) CEO Will See A Huge Pay Rise This Year

It's Unlikely That Bapcor Limited's (ASX:BAP) CEO Will See A Huge Pay Rise This Year

CEO Darryl Abotomey has done a decent job of delivering relatively good performance at Bapcor Limited ( ASX:BAP...

Oct 06
We Think Bapcor (ASX:BAP) Can Stay On Top Of Its Debt

We Think Bapcor (ASX:BAP) Can Stay On Top Of Its Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Sep 06
Calculating The Fair Value Of Bapcor Limited (ASX:BAP)

Calculating The Fair Value Of Bapcor Limited (ASX:BAP)

Today we will run through one way of estimating the intrinsic value of Bapcor Limited ( ASX:BAP ) by estimating the...

Aug 20
Here's Why I Think Bapcor (ASX:BAP) Might Deserve Your Attention Today

Here's Why I Think Bapcor (ASX:BAP) Might Deserve Your Attention Today

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Shareholder Returns

BAPAU Retail DistributorsAU Market
7D-1.1%0.7%0.4%
1Y-0.1%6.4%24.3%

Return vs Industry: BAP underperformed the Australian Retail Distributors industry which returned 6.4% over the past year.

Return vs Market: BAP underperformed the Australian Market which returned 24.3% over the past year.

Price Volatility

Is BAP's price volatile compared to industry and market?
BAP volatility
BAP Beta0.67
Industry Beta0.99
Market Beta1

Stable Share Price: BAP is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BAP's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1971n/aDarryl Abotomeyhttps://www.bapcor.com.au

Bapcor Limited sells and distributes automotive aftermarket parts, accessories, equipment, and services and solutions in Australia, New Zealand, and Thailand. The company operates through four segments: Bapcor Trade, Bapcor Specialist Wholesale, Bapcor Retail, and Bapcor NZ. The Bapcor Trade segment offers automotive aftermarket parts and consumables to trade workshops for the service and repair of passenger and commercial vehicles; automotive workshop equipment, such as vehicle hoists and scanning equipment, including the servicing of the equipment; and automotive accessories and maintenance products to do-it-yourself vehicle owners.

Bapcor Fundamentals Summary

How do Bapcor's earnings and revenue compare to its market cap?
BAP fundamental statistics
Market CapAU$2.75b
Earnings (TTM)AU$118.77m
Revenue (TTM)AU$1.76b

22.8x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BAP income statement (TTM)
RevenueAU$1.76b
Cost of RevenueAU$949.28m
Gross ProfitAU$812.39m
ExpensesAU$693.63m
EarningsAU$118.77m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.35
Gross Margin46.11%
Net Profit Margin6.74%
Debt/Equity Ratio19.6%

How did BAP perform over the long term?

See historical performance and comparison

Dividends

2.5%

Current Dividend Yield

57%

Payout Ratio

Valuation

Is Bapcor undervalued compared to its fair value and its price relative to the market?

18.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BAP (A$7.98) is trading below our estimate of fair value (A$9.8)

Significantly Below Fair Value: BAP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BAP is poor value based on its PE Ratio (22.8x) compared to the Australian Retail Distributors industry average (10.6x).

PE vs Market: BAP is poor value based on its PE Ratio (22.8x) compared to the Australian market (19.8x).


Price to Earnings Growth Ratio

PEG Ratio: BAP is poor value based on its PEG Ratio (2.6x)


Price to Book Ratio

PB vs Industry: BAP's PB Ratio (2.6x) is in line with the AU Retail Distributors industry average.


Future Growth

How is Bapcor forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

8.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BAP's forecast earnings growth (8.8% per year) is above the savings rate (1.9%).

Earnings vs Market: BAP's earnings (8.8% per year) are forecast to grow slower than the Australian market (11.8% per year).

High Growth Earnings: BAP's earnings are forecast to grow, but not significantly.

Revenue vs Market: BAP's revenue (5.2% per year) is forecast to grow slower than the Australian market (5.4% per year).

High Growth Revenue: BAP's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BAP's Return on Equity is forecast to be low in 3 years time (12.9%).


Past Performance

How has Bapcor performed over the past 5 years?

15.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BAP has high quality earnings.

Growing Profit Margin: BAP's current net profit margins (6.7%) are higher than last year (5.4%).


Past Earnings Growth Analysis

Earnings Trend: BAP's earnings have grown by 15.7% per year over the past 5 years.

Accelerating Growth: BAP's earnings growth over the past year (50%) exceeds its 5-year average (15.7% per year).

Earnings vs Industry: BAP earnings growth over the past year (50%) exceeded the Retail Distributors industry 28.8%.


Return on Equity

High ROE: BAP's Return on Equity (11.4%) is considered low.


Financial Health

How is Bapcor's financial position?


Financial Position Analysis

Short Term Liabilities: BAP's short term assets (A$682.8M) exceed its short term liabilities (A$363.7M).

Long Term Liabilities: BAP's short term assets (A$682.8M) exceed its long term liabilities (A$382.3M).


Debt to Equity History and Analysis

Debt Level: BAP's debt to equity ratio (19.6%) is considered satisfactory.

Reducing Debt: BAP's debt to equity ratio has reduced from 40.2% to 19.6% over the past 5 years.

Debt Coverage: BAP's debt is well covered by operating cash flow (66.5%).

Interest Coverage: BAP's interest payments on its debt are well covered by EBIT (13.1x coverage).


Balance Sheet


Dividend

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

2.51%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BAP's dividend (2.51%) is higher than the bottom 25% of dividend payers in the Australian market (2.21%).

High Dividend: BAP's dividend (2.51%) is low compared to the top 25% of dividend payers in the Australian market (5.33%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BAP has been paying a dividend for less than 10 years.

Growing Dividend: BAP's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57.2%), BAP's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BAP's dividends in 3 years are forecast to be covered by earnings (54.9% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

Darryl Abotomey (65 yo)

10yrs

Tenure

AU$3,815,362

Compensation

Mr. Darryl Gregor Abotomey, BCom, FCPA, MAICD, serves as Non-Executive Non Independent Director at Tye Soon Limited since April 26, 2021. He has been the Chief Executive Officer and Managing Director of Ba...


CEO Compensation Analysis

Compensation vs Market: Darryl's total compensation ($USD2.86M) is above average for companies of similar size in the Australian market ($USD1.38M).

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


Leadership Team

Experienced Management: BAP's management team is considered experienced (2.6 years average tenure).


Board Members

Experienced Board: BAP's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: BAP 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

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


Key Information

  • Name: Bapcor Limited
  • Ticker: BAP
  • Exchange: ASX
  • Founded: 1971
  • Industry: Distributors
  • Sector: Retail
  • Market Cap: AU$2.746b
  • Shares outstanding: 339.41m
  • Website: https://www.bapcor.com.au

Number of Employees


Location

  • Bapcor Limited
  • 61 Gower Street
  • Preston
  • Victoria
  • 3072
  • Australia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/27 07:02
End of Day Share Price2021/10/27 00:00
Earnings2021/06/30
Annual Earnings2021/06/30


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.