ASX:BGP

Stock Analysis Report

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Executive Summary

Briscoe Group Limited, through its subsidiaries, engages in the retail of homeware and sporting goods in New Zealand. More Details


Snowflake Analysis

Excellent balance sheet, good value and pays a dividend.

Share Price & News

How has Briscoe Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: Insufficient data to determine BGP's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine BGP's volatility change over the past year.


Market Performance


7 Day Return

0%

BGP

2.6%

AU Specialty Retail

2.4%

AU Market


1 Year Return

n/a

BGP

16.9%

AU Specialty Retail

-0.6%

AU Market

Return vs Industry: Insufficient data to determine how BGP performed against the Australian Specialty Retail industry.

Return vs Market: Insufficient data to determine how BGP performed against the Australian Market.


Shareholder returns

BGPIndustryMarket
7 Day0%2.6%2.4%
30 Day5.7%0.6%8.0%
90 Day13.8%6.2%8.8%
1 Yearn/a20.9%16.9%2.7%-0.6%
3 Yearn/a77.1%55.4%24.3%9.0%
5 Yearn/a83.3%45.9%56.9%25.7%

Long-Term Price Volatility Vs. Market

How volatile is Briscoe Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

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

49.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BGP (A$3.7) is trading below our estimate of fair value (A$7.25)

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


Price To Earnings Ratio

PE vs Industry: BGP is good value based on its PE Ratio (15.2x) compared to the AU Specialty Retail industry average (17.8x).

PE vs Market: BGP is good value based on its PE Ratio (15.2x) compared to the Australian market (22.8x).


Price to Earnings Growth Ratio

PEG Ratio: BGP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: BGP is overvalued based on its PB Ratio (3.9x) compared to the AU Specialty Retail industry average (2.7x).


Next Steps

Future Growth

How is Briscoe Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-1.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BGP's earnings are forecast to decline over the next 3 years (-1.7% per year).

Earnings vs Market: BGP's earnings are forecast to decline over the next 3 years (-1.7% per year).

High Growth Earnings: BGP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: BGP's revenue (5.9% per year) is forecast to grow faster than the Australian market (5.1% per year).

High Growth Revenue: BGP's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BGP's Return on Equity is forecast to be high in 3 years time (22.3%)


Next Steps

Past Performance

How has Briscoe Group performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BGP has high quality earnings.

Growing Profit Margin: BGP's current net profit margins (9.7%) are lower than last year (9.7%).


Past Earnings Growth Analysis

Earnings Trend: BGP's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: BGP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BGP had negative earnings growth (-0.3%) over the past year, making it difficult to compare to the Specialty Retail industry average (-0.04%).


Return on Equity

High ROE: BGP's Return on Equity (25.8%) is considered high.


Next Steps

Financial Health

How is Briscoe Group's financial position?


Financial Position Analysis

Short Term Liabilities: BGP's short term assets (NZ$188.0M) exceed its short term liabilities (NZ$111.6M).

Long Term Liabilities: BGP's short term assets (NZ$188.0M) do not cover its long term liabilities (NZ$277.8M).


Debt to Equity History and Analysis

Debt Level: BGP is debt free.

Reducing Debt: BGP has not had any debt for past 5 years.

Debt Coverage: BGP has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: BGP has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

4.23%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BGP's dividend (4.24%) is higher than the bottom 25% of dividend payers in the Australian market (2.08%).

High Dividend: BGP's dividend (4.24%) is low compared to the top 25% of dividend payers in the Australian market (5.05%).


Stability and Growth of Payments

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

Growing Dividend: BGP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.1%), BGP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BGP's dividends in 3 years are forecast to be covered by earnings (79.2% payout ratio).


Next Steps

Management

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

11.3yrs

Average management tenure


CEO

Rod Duke

29.83yrs

Tenure

NZ$912,038

Compensation

Mr. Rodney Adrian Duke, also known as Rod, has been Group Managing Director of Briscoe Group Limited since 1991. From 1981 to 1988, Mr. Duke served in the positions of New South Wales Manager of Homecraft/...


CEO Compensation Analysis

Compensation vs Market: Rod's total compensation ($USD638.73K) is below average for companies of similar size in the Australian market ($USD936.18K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Rodney Duke
Deputy Chairman & Group MD29.83yrsNZ$912.04k77.12%
NZ$ 694.2m
Geoffrey Scowcroft
Chief Financial Officer18.08yrsno data0.42%
NZ$ 3.7m
Andrew Scott
Chief Operating Officer1.33yrsno datano data
Fiona Stewart
General Manager of Marketing & Strategyno datano datano data
Aston Moss
Group General Manager of Human Resources4.5yrsno data0.013%
NZ$ 117.4k

11.3yrs

Average Tenure

Experienced Management: BGP's management team is seasoned and experienced (11.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Rodney Duke
Deputy Chairman & Group MD29.83yrsNZ$912.04k77.12%
NZ$ 694.2m
Anthony Batterton
Independent Non-Executive Director4.42yrsNZ$74.50k0.0090%
NZ$ 80.9k
Rosanne O'Loghlen Meo
Independent Non-Executive Chairman19.5yrsNZ$132.00k0.045%
NZ$ 404.6k
Richard Andrew Coupe
Independent Non-Executive Director4.08yrsNZ$77.00k0.0045%
NZ$ 40.5k

12.0yrs

Average Tenure

Experienced Board: BGP's board of directors are seasoned and experienced ( 12 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: BGP 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

Briscoe Group Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Briscoe Group Limited
  • Ticker: BGP
  • Exchange: ASX
  • Founded: 1781
  • Industry: Homefurnishing Retail
  • Sector: Retail
  • Market Cap: NZ$945.481m
  • Listing Market Cap: NZ$900.190m
  • Shares outstanding: 222.47m
  • Website: https://www.briscoegroup.co.nz

Location

  • Briscoe Group Limited
  • 1 Taylors Road
  • Morningside
  • Auckland
  • 1025
  • New Zealand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BGPNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDDec 2001
BGPASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2001
BGPCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2001

Biography

Briscoe Group Limited, through its subsidiaries, engages in the retail of homeware and sporting goods in New Zealand. The company operates in two segments, Homeware and Sporting Goods. It operates retail s...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 07:03
End of Day Share Price2020/11/24 00:00
Earnings2020/07/26
Annual Earnings2020/01/26


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.