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Bapcor

ASX:BAP
Snowflake Description

Proven track record with adequate balance sheet.

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

Bapcor Limited sells and distributes automotive aftermarket parts, accessories, equipment, and services in Australasia. The last earnings update was 37 days ago. More info.


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BAP Share Price and Events
7 Day Returns
-3.8%
ASX:BAP
-1.8%
AU Retail Distributors
0.1%
AU Market
1 Year Returns
0.2%
ASX:BAP
0.5%
AU Retail Distributors
1.6%
AU Market
BAP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bapcor (BAP) -3.8% 1.6% 1.2% 0.2% 25% -
AU Retail Distributors -1.8% 8.8% 7.2% 0.5% 34.2% 39.2%
AU Market 0.1% 0.7% 11.2% 1.6% 18.7% 5.1%
1 Year Return vs Industry and Market
  • BAP underperformed the Market in Australia which returned 1.6% over the past year.
Price Volatility
BAP
Industry
5yr Volatility vs Market

Value

 Is Bapcor 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 Bapcor 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 Bapcor.

ASX:BAP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
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:BAP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Retail Distributors Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.887 (1 + (1- 30%) (23.67%))
1.023
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.023 * 5.96%)
8.41%

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

The calculations below outline how an intrinsic value for Bapcor 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:BAP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.41%)
2019 51.45 Analyst x2 47.46
2020 76.00 Analyst x3 64.67
2021 97.55 Analyst x2 76.57
2022 115.20 Est @ 18.09% 83.40
2023 130.58 Est @ 13.36% 87.21
2024 143.70 Est @ 10.04% 88.52
2025 154.79 Est @ 7.72% 87.96
2026 164.24 Est @ 6.1% 86.09
2027 172.39 Est @ 4.96% 83.35
2028 179.57 Est @ 4.17% 80.09
Present value of next 10 years cash flows A$785.33
ASX:BAP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$179.57 × (1 + 2.31%) ÷ (8.41% – 2.31%)
A$3,013.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$3,013.51 ÷ (1 + 8.41%)10
A$1,344.09
ASX:BAP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$785.33 + A$1,344.09
A$2,129.42
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$2,129.42 / 282.47
A$7.54
ASX:BAP Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$7.54
Current discount Discount to share price of A$5.80
= -1 x (A$5.80 - A$7.54) / A$7.54
23.1%

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

Current Discount
Amount off the current price Bapcor is available for.
Intrinsic value
23%
Share price is A$5.8 vs Future cash flow value of A$7.54
Current Discount Checks
For Bapcor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bapcor's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bapcor's share price is below the future cash flow value, but not 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 Bapcor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bapcor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:BAP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.32
ASX:BAP Share Price ** ASX (2019-03-21) in AUD A$5.8
Global Retail Distributors Industry PE Ratio Median Figure of 114 Publicly-Listed Retail Distributors Companies 17.63x
Australia Market PE Ratio Median Figure of 543 Publicly-Listed Companies 16.2x

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

** Primary Listing of Bapcor.

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

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

= 5.8 ÷ 0.32

18.13x

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

  • Bapcor is overvalued based on earnings compared to the Global Retail Distributors industry average.
  • Bapcor is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Bapcor's expected growth come at a high price?
Raw Data
ASX:BAP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
10.5%per year
Global Retail Distributors Industry PEG Ratio Median Figure of 20 Publicly-Listed Retail Distributors Companies 1.36x
Australia Market PEG Ratio Median Figure of 362 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.13x ÷ 10.5%

1.72x

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

  • Bapcor is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bapcor's assets?
Raw Data
ASX:BAP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.42
ASX:BAP Share Price * ASX (2019-03-21) in AUD A$5.8
Australia Retail Distributors Industry PB Ratio Median Figure of 9 Publicly-Listed Retail Distributors Companies 2.49x
Australia Market PB Ratio Median Figure of 1,668 Publicly-Listed Companies 1.67x
ASX:BAP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.8 ÷ 2.42

2.4x

* Primary Listing of Bapcor.

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

  • Bapcor is good value based on assets compared to the AU Retail Distributors industry average.
X
Value checks
We assess Bapcor'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 Retail Distributors 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 Retail Distributors industry average (and greater than 0)? (1 check)
  5. Bapcor has a total score of 2/6, 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.

Future Performance

 How is Bapcor expected to perform in the next 1 to 3 years based on estimates from 6 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
10.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bapcor expected to grow at an attractive rate?
  • Bapcor's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Bapcor's earnings growth is expected to exceed the Australia market average.
  • Bapcor's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:BAP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:BAP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 10.5%
ASX:BAP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 6.7%
Global Retail Distributors Industry Earnings Growth Rate Market Cap Weighted Average 15.2%
Global Retail Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.4%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*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:BAP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:BAP Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 1,497 139 117 5
2020-06-30 1,419 112 106 6
2019-06-30 1,318 101 95 6
ASX:BAP Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,257 58 90
2018-09-30 1,247 72 87
2018-06-30 1,237 85 85
2017-12-31 1,195 81 69
2017-09-30 1,104 71 62
2017-06-30 1,014 61 54
2016-12-31 796 44 50
2016-09-30 741 42 47
2016-06-30 686 39 44
2016-03-31 600 38 36

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bapcor's earnings are expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
  • Bapcor's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
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:BAP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Bapcor Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:BAP Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.41 0.43 0.41 4.00
2020-06-30 0.37 0.38 0.37 5.00
2019-06-30 0.34 0.35 0.33 5.00
ASX:BAP Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.32
2018-09-30 0.31
2018-06-30 0.30
2017-12-31 0.25
2017-09-30 0.22
2017-06-30 0.20
2016-12-31 0.20
2016-09-30 0.19
2016-06-30 0.18
2016-03-31 0.16

*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.
  • Bapcor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bapcor'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 Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global 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.
Bapcor 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.

Past Performance

  How has Bapcor 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 Bapcor's growth in the last year to its industry (Retail Distributors).
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.
  • Bapcor has delivered over 20% year on year earnings growth in the past 5 years.
  • Bapcor's 1-year earnings growth is less than its 5-year average (29.3% vs 47.9%)
  • Bapcor's earnings growth has exceeded the Global Retail Distributors industry average in the past year (29.3% vs 17.5%).
Earnings and Revenue History
Bapcor'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 Bapcor Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:BAP 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 1,256.68 89.59 434.38
2018-09-30 1,246.68 87.15 428.00
2018-06-30 1,236.68 84.72 421.62
2017-12-31 1,194.57 69.31 413.76
2017-09-30 1,104.06 61.63 381.57
2017-06-30 1,013.55 53.95 349.38
2016-12-31 796.37 49.52 282.18
2016-09-30 741.00 46.55 253.48
2016-06-30 685.63 43.58 224.77
2016-03-31 600.16 35.77 180.41
2015-12-31 514.68 27.96 136.05
2015-09-30 445.00 23.74 114.83
2015-06-30 375.32 19.51 93.61
2015-03-31 366.65 14.80 92.04
2014-12-31 357.99 10.10 90.47
2014-09-30 349.82 5.63 87.90
2014-06-30 341.65 1.16 85.32
2014-03-31 332.60 4.56 80.48
2013-12-31 323.56 7.97 75.63
2013-09-30 314.92 9.16 74.84
2013-06-30 306.29 10.35 74.05

*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.
  • Bapcor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bapcor used its assets more efficiently than the Global Retail Distributors industry average last year based on Return on Assets.
  • Bapcor has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bapcor'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 Retail Distributors 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.
Bapcor has a total score of 4/6, 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.

Health

 How is Bapcor'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 Bapcor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bapcor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bapcor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bapcor'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x 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 Bapcor Company Filings, last reported 2 months ago.

ASX:BAP Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 685.12 402.53 53.50
2018-09-30 685.12 402.53 53.50
2018-06-30 642.35 326.83 40.15
2017-12-31 598.41 396.35 60.14
2017-09-30 598.41 396.35 60.14
2017-06-30 589.97 430.38 39.76
2016-12-31 559.00 14.22 35.46
2016-09-30 559.00 14.22 35.46
2016-06-30 366.22 149.56 22.39
2016-03-31 366.22 149.56 22.39
2015-12-31 348.36 133.26 27.93
2015-09-30 348.36 133.26 27.93
2015-06-30 266.93 0.00 107.90
2015-03-31 266.93 0.00 107.90
2014-12-31 108.03 64.46 8.93
2014-09-30 108.03 64.46 8.93
2014-06-30 96.96 73.34 10.86
2014-03-31 96.96 73.34 10.86
2013-12-31 89.10 74.70 2.00
2013-09-30 89.10 74.70 2.00
2013-06-30 48.27 160.57 60.99
  • Bapcor's level of debt (58.8%) 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 (83.7% vs 58.8% today).
  • Debt is not well covered by operating cash flow (14.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.5x coverage).
X
Financial health checks
We assess Bapcor'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. Bapcor has a total score of 4/6, 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.

Dividends

 What is Bapcor'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
2.76%
Current annual income from Bapcor dividends. Estimated to be 3.42% next year.
If you bought A$2,000 of Bapcor shares you are expected to receive A$55 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?
  • Bapcor's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.63%).
  • Bapcor'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:BAP 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 6 Analyst Estimates (S&P Global) See Below
Global Retail Distributors Industry Average Dividend Yield Market Cap Weighted Average of 46 Stocks 3.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 418 Stocks 4.4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.7%
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:BAP Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.23 5.00
2020-06-30 0.20 6.00
2019-06-30 0.18 6.00
ASX:BAP Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-12 0.160 2.648
2018-08-21 0.155 2.355
2018-02-19 0.145 2.291
2017-08-23 0.130 2.330
2017-02-15 0.115 2.120
2016-08-17 0.120 2.130
2016-02-17 0.100 1.985
2015-08-19 0.094 2.455
2015-02-11 0.080 2.504
2014-08-26 0.000 0.000
2014-04-24 0.880 41.942

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

  • Whilst dividend payments have been stable, Bapcor has been paying a dividend for less than 10 years.
  • Bapcor has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Bapcor's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Bapcor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Bapcor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bapcor 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.

Management

 What is the CEO of Bapcor'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
Darryl Abotomey
COMPENSATION A$3,055,588
AGE 62
TENURE AS CEO 7.4 years
CEO Bio

Mr. Darryl G. Abotomey, BCom, FCPA, MAICD, has been the Chief Executive Officer and Managing Director of Bapcor Limited since October 2011. Mr. Abotomey has been the Chief Executive Officer and Managing Director of Burson Automotive Pty Ltd. since October 2011. He joined Burson in October 2011 after leading the Private Equity backed buyout of the business. He served as the Chief Financial Officer of GPC Asia Pacific Group Pty Ltd. since January 2007. Mr. Abotomey has more than ten years’ experience in the automotive aftermarket industry. He has over 27 years experience in the paper industry, predominantly, business acquisitions, strategy, finance and information technology. He has significant experience with businesses in Australia, North America and Europe. He served as the Chief Financial Officer or Finance Director of Paperlinx Limited (now Spicers Limited) from April 2000 to February 2006. He served as the Chief Financial Officer of Exego Group (Repco). He joined Amcor Group in 1979 and held various senior management positions in Australia and the United States including Group General Manager, Commercial and Trading from 1997 to 2000, Regional General Manager of Amcor Fibre Packaging from 1996 to 1997 and Chief Financial Officer of Sunclipse Inc. USA from 1989 to 1994. He has been Executive Chairman at Hellaby Holdings Limited since March 2, 2017. He served as Non-Executive Chairman at Hellaby Holdings Limited since January 23, 2017 until March 2, 2017. He served as an Executive Director of Spicers from 2000 to December 31, 2005. Mr. Abotomey has been Non Executive Director of Repco Group Holdings Pty Ltd. since 2007. He has been a Director at Bapcor Ltd. (Burson Group Limited) since October 17, 2011. He serves as a Director at Burson Automotive Pty Ltd. He served as a Director of Spicers Limited since December 31, 2005. He served as a Non Executive Director of CPI Group Ltd. since February 14, 2007. He served as a Director of Exego Group (Repco). He held directorships with The Signcraft Group and Pinegro Products Pty Ltd. He is a Fellow of the Australian Society of CPA's and is a member of the Australian Institute of Company Directors. Mr. Abotomey holds a Bachelor of Commerce (Hons) majoring in Accounting and Economics from the University of Melbourne.

CEO Compensation
  • Darryl's compensation has increased by more than 20% in the past year.
  • Darryl's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the Bapcor management team in years:

3.6
Average Tenure
  • The tenure for the Bapcor management team is about average.
Management Team

Darryl Abotomey

TITLE
MD, CEO & Director
COMPENSATION
A$3M
AGE
62
TENURE
7.4 yrs

Greg Fox

TITLE
CFO & Company Secretary
COMPENSATION
A$1M
TENURE
7 yrs

Alison Laing

TITLE
Executive General Manager of Human Resources
COMPENSATION
A$476K
TENURE
1.8 yrs

Paul Dumbrell

TITLE
Chief Operating Officer of Specialist Wholesale
COMPENSATION
A$883K
TENURE
3.6 yrs

Craig Magill

TITLE
Executive General Manager of Burson Trade
COMPENSATION
A$869K
TENURE
2.8 yrs

Grant Jarrett

TITLE
Executive General Manager of Logistics
COMPENSATION
A$721K
TENURE
1.3 yrs

Mat Cooper

TITLE
Executive General Manager of Strategic Development
COMPENSATION
A$743K
TENURE
3.6 yrs

Peter Tilley

TITLE
Executive General Manager of Retail & Service
COMPENSATION
A$753K

Colin Daly

TITLE
Chief Operating Officer of Strategic Marketing & Bapcor New Zealand
COMPENSATION
A$783K
Board of Directors Tenure

Average tenure of the Bapcor board of directors in years:

2.8
Average Tenure
  • The average tenure for the Bapcor board of directors is less than 3 years, this suggests a new board.
Board of Directors

Andrew Harrison

TITLE
Chairman
COMPENSATION
A$170K
TENURE
0.9 yrs

Darryl Abotomey

TITLE
MD, CEO & Director
COMPENSATION
A$3M
AGE
62
TENURE
7.4 yrs

Therese Ryan

TITLE
Independent Non-Executive Director
COMPENSATION
A$140K
TENURE
5 yrs

Jenny MacDonald

TITLE
Non–Executive Director
TENURE
0.5 yrs

Margaret Haseltine

TITLE
Independent Non-Executive Director
COMPENSATION
A$130K
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
11. Dec 18 Sell Paradice Investment Management Pty Ltd. Company 28. May 18 07. Dec 18 -3,446,260 A$6.59 A$-22,693,923
11. Dec 18 Buy Paradice Investment Management Pty Ltd. Company 15. May 18 04. Dec 18 2,303,075 A$6.72 A$15,474,010
17. Oct 18 Sell Pendal Group Limited Company 03. Sep 18 15. Oct 18 -262,477 A$7.34 A$-1,927,715
06. Sep 18 Sell Credit Suisse, Investment Banking and Securities Investments Company 01. May 18 31. Aug 18 -2,007,854 A$6.60 A$-13,260,735
06. Sep 18 Buy Credit Suisse, Investment Banking and Securities Investments Company 01. May 18 31. Aug 18 2,669,649 A$6.73 A$17,974,341
06. Sep 18 Buy Credit Suisse Asset Management (Switzerland) Company 31. Aug 18 31. Aug 18 1,156 A$7.44 A$8,601
07. Sep 18 Buy Credit Suisse, Investment Banking and Securities Investments Company 03. Sep 18 03. Sep 18 7,891 A$7.58 A$59,819
04. Sep 18 Sell Pendal Group Limited Company 31. Jan 18 31. Aug 18 -4,938,180 A$6.69 A$-32,957,155
04. Sep 18 Buy Pendal Group Limited Company 25. Jan 18 31. Aug 18 2,164,555 A$6.16 A$13,050,766
28. Aug 18 Buy Andrew Harrison Individual 23. Aug 18 23. Aug 18 10,000 A$6.88 A$68,839
16. May 18 Buy Paradice Investment Management Pty Ltd. Company 29. Jan 18 14. May 18 8,738,658 A$6.16 A$53,824,324
X
Management checks
We assess Bapcor'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. Bapcor 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.

News

Simply Wall St News

Have Insiders Been Buying Bapcor Limited (ASX:BAP) Shares?

Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … So we'll take a look at whether insiders have been buying or selling shares in Bapcor Limited (ASX:BAP). … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

Are Bapcor Limited's (ASX:BAP) Interest Costs Too High?

Bapcor Limited (ASX:BAP) is a small-cap stock with a market capitalization of AU$1.8b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is.

Simply Wall St -

The Bapcor Share Price Is Up 27% And Shareholders Are Holding On

For example, the Bapcor Limited (ASX:BAP) share price is up 27% in the last three years, slightly above the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Bapcor achieved compound earnings per share growth of 33% per year.

Simply Wall St -

Is Bapcor Limited's (ASX:BAP) CEO Being Overpaid?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Next, we'll consider growth that the business demonstrates. … How Does Darryl Abotomey's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Are Analysts Saying About Bapcor Limited's (ASX:BAP) Growth?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … Bapcor Limited's (ASX:BAP) most recent earnings announcement in June 2018a

Simply Wall St -

Is Bapcor Limited's (ASX:BAP) Future Growth Already Accounted For In Today's Price?

Bapcor Limited (ASX:BAP) closed yesterday at A$6.12, which left some investors asking whether the high earnings potential can still be justified at this price. … Let’s look into this by assessing BAP's expected growth over the next few years. … Analysts are predicting good growth prospects for Bapcor over the next couple of years

Simply Wall St -

Can Bapcor Limited (ASX:BAP) Maintain Its Strong Returns?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every A$1 worth of shareholders' equity, it generated A$0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Examining Bapcor Limited’s (ASX:BAP) Weak Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … How Do You Calculate Return On Capital Employed

Simply Wall St -

These Factors Make Bapcor Limited (ASX:BAP) An Interesting Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Bapcor Limited (ASX:BAP) due to its excellent fundamentals in more than one area. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

How Many Insiders Bought Bapcor Limited (ASX:BAP) Shares?

So before you buy or sell Bapcor Limited (ASX:BAP), you may well want to know whether insiders have been buying or selling. … What Is Insider Buying? … Bapcor Insider Transactions Over The Last Year

Simply Wall St -

Company Info

Description

Bapcor Limited sells and distributes automotive aftermarket parts, accessories, equipment, and services in Australasia. The company operates in four segments: Trade, Bapcor NZ, Specialist Wholesale, and Retail & Service. The Trade segment offers automotive aftermarket parts and consumables to trade workshops; automotive workshop equipment, such as vehicle hoists and scanning equipment; and automotive accessories and maintenance products to do-it-yourself vehicle owners. As of June 30, 2018, it operated 170 stores. The Bapcor NZ segment is involved in the wholesale of batteries, steering and suspension specialists, and auto electrical parts. The Specialist Wholesale segment engages in the automotive aftermarket wholesale. The Retail & Service segment operates 378 company owned and franchise stores under the Autobarn, Autopro, Sprint Auto Parts, and Car Parts retail store brands, as well as the Midas and ABS workshop service brands. The company was formerly known as Burson Group Limited and changed its name to Bapcor Limited in July 2016. Bapcor Limited was founded in 1971 and is based in Preston, Australia.

Details
Name: Bapcor Limited
BAP
Exchange: ASX
Founded: 1971
A$1,700,482,150
282,472,118
Website: http://www.bapcor.com.au
Address: Bapcor Limited
61 Gower Street,
Preston,
Victoria, 3072,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX BAP Ordinary Shares Australian Securities Exchange AU AUD 24. Apr 2014
DB 0BS Ordinary Shares Deutsche Boerse AG DE EUR 24. Apr 2014
CHIA BAP Ordinary Shares Chi-X Australia AU AUD 24. Apr 2014
Number of employees
Current staff
Staff numbers
0
Bapcor employees.
Industry
Distributors
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 10:35
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/02/17
Last earnings filing: 2019/02/12
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.