Atlas Arteria
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Atlas Arteria Limited develops and operates toll roads and tunnels. The last earnings update was 174 days ago. More info.
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ALX Share Price and Events
7 Day Returns
1 Year Returns
ALX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Atlas Arteria (ALX) | 1.7% | 12.1% | 4.2% | 28.6% | 67.5% | 137.2% |
| Oceania Infrastructure | -1.4% | 3.3% | 5.5% | 7.6% | 18% | 74.8% |
| AU Market | 0.7% | 4.7% | 6.7% | 1.6% | 24.9% | 4.2% |
1 Year Return vs Industry and Market
- ALX outperformed the Infrastructure industry which returned 7.6% over the past year.
- ALX outperformed the Market in Australia which returned 1.6% over the past year.
Value
Is Atlas Arteria 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
Atlas Arteria
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Atlas Arteria.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 5 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.5% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year AU Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 7.7% |
| Infrastructure Unlevered Beta | Simply Wall St/ S&P Global | 0.45 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.447 (1 + (1- 30%) (40.07%)) |
0.573 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 7.69%) |
8.46% |
Discounted Cash Flow Calculation for ASX:ALX using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Atlas Arteria is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (AUD, Millions) | 313.53 | 326.65 | 518.87 | 570.43 | 661.70 |
| Source | Analyst x2 | Analyst x2 | Analyst x1 | Analyst x1 | Est @ 16%, capped from 83.48% |
|
Present Value Discounted (@ 8.46%) |
289.07 | 277.66 | 406.65 | 412.18 | 440.82 |
| Present value of next 5 years cash flows | A$1,826.39 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= A$661.70 × (1 + 2.31%) ÷ (8.46% – 2.31%) |
A$11,007.41 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= A$11,007.41 ÷ (1 + 8.46%)5 |
A$7,333.12 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= A$1,826.39 + A$7,333.12 |
A$9,159.51 |
| Equity Value per Share (AUD) |
= Total value / Shares Outstanding
= A$9,159.51 / 669.79 |
A$13.68 |
| Calculation | Result | |
|---|---|---|
| Value per share (AUD) | From above. | A$13.68 |
| Current discount | Discount to share price of
A$7.02
= -1 x (A$7.02 - A$13.68) / A$13.68 |
48.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Atlas Arteria's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Atlas Arteria'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 Atlas Arteria's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Atlas Arteria's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-06-30) in AUD | A$0.10 |
| ASX:ALX Share Price ** | ASX (2019-02-19) in AUD | A$7.02 |
| Oceania Infrastructure Industry PE Ratio | Median Figure of 8 Publicly-Listed Infrastructure Companies | 22.88x |
| Australia Market PE Ratio | Median Figure of 559 Publicly-Listed Companies | 15.9x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Atlas Arteria.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ASX:ALX Share Price ÷ EPS (both in AUD) = 7.02 ÷ 0.10 |
68.64x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Atlas Arteria is overvalued based on earnings compared to the Oceania Infrastructure industry average.
- Atlas Arteria is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does
Atlas Arteria's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 68.64x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
37.4%per year |
| Oceania Infrastructure Industry PEG Ratio | Median Figure of 5 Publicly-Listed Infrastructure Companies | 1.83x |
| Australia Market PEG Ratio | Median Figure of 361 Publicly-Listed Companies | 1.43x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 68.64x ÷ 37.4% |
1.84x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Atlas Arteria is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Atlas Arteria's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-06-30) in AUD | A$3.21 |
| ASX:ALX Share Price * | ASX (2019-02-19) in AUD | A$7.02 |
| Oceania Infrastructure Industry PB Ratio | Median Figure of 8 Publicly-Listed Infrastructure Companies | 1.91x |
| Australia Market PB Ratio | Median Figure of 1,664 Publicly-Listed Companies | 1.64x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ASX:ALX Share Price ÷ Book Value per Share (both in AUD) = 7.02 ÷ 3.21 |
2.18x |
* Primary Listing of Atlas Arteria.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Atlas Arteria is overvalued based on assets compared to the Oceania Infrastructure industry average.
Value checks
We assess Atlas Arteria's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Infrastructure industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Infrastructure industry average (and greater than 0)? (1 check) Atlas Arteria 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
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!
Earnings growth vs Low Risk Savings
- Atlas Arteria's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Atlas Arteria's earnings growth is expected to exceed the Australia market average.
- Atlas Arteria's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ASX:ALX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 37.4% |
| ASX:ALX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 0.3% |
| Oceania Infrastructure Industry Earnings Growth Rate | Market Cap Weighted Average | 11.8% |
| Oceania Infrastructure Industry Revenue Growth Rate | Market Cap Weighted Average | 2.5% |
| Australia Market Earnings Growth Rate | Market Cap Weighted Average | 5.9% |
| Australia Market Revenue Growth Rate | Market Cap Weighted Average | 2.4% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (7 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 363 | |||
| 2021-12-31 | 346 | |||
| 2020-12-31 | 111 | 329 | 270 | 2 |
| 2019-12-31 | 106 | 362 | 223 | 2 |
| 2018-12-31 | 101 | 113 | 44 | 2 |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-06-30 | 120 | 46 | 67 |
| 2018-03-31 | 101 | 32 | 293 |
| 2017-12-31 | 83 | 18 | 520 |
| 2017-09-30 | 54 | -4 | 564 |
| 2017-06-30 | 25 | -25 | 608 |
| 2017-03-31 | 14 | -20 | 417 |
| 2016-12-31 | 3 | -16 | 225 |
| 2016-09-30 | 2 | -14 | 162 |
| 2016-06-30 | 2 | -13 | 99 |
| 2016-03-31 | 2 | -27 | 92 |
| 2015-12-31 | 2 | -42 | 85 |
| 2015-09-30 | 3 | -41 | 71 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (7 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from Atlas Arteria Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | 0.53 | 0.53 | 0.53 | 1.00 |
| 2021-12-31 | 0.50 | 0.50 | 0.50 | 1.00 |
| 2020-12-31 | 0.40 | 0.51 | 0.28 | 4.00 |
| 2019-12-31 | 0.33 | 0.44 | 0.20 | 4.00 |
| 2018-12-31 | 0.07 | 0.10 | 0.04 | 3.00 |
| Date (Data in AUD Millions) | EPS * |
|---|---|
| 2018-06-30 | 0.10 |
| 2018-03-31 | 0.47 |
| 2017-12-31 | 0.88 |
| 2017-09-30 | 0.99 |
| 2017-06-30 | 1.12 |
| 2017-03-31 | 0.78 |
| 2016-12-31 | 0.43 |
| 2016-09-30 | 0.31 |
| 2016-06-30 | 0.19 |
| 2016-03-31 | 0.18 |
| 2015-12-31 | 0.17 |
| 2015-09-30 | 0.14 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Atlas Arteria's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Oceania market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Oceania market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Atlas Arteria 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 Atlas Arteria 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
Past Earnings growth analysis
- Atlas Arteria has delivered over 20% year on year earnings growth in the past 5 years.
- Atlas Arteria's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Atlas Arteria's 1-year earnings growth is negative, it can't be compared to the Oceania Infrastructure industry average.
Earnings and Revenue History
All data from Atlas Arteria Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-06-30 | 119.66 | 66.53 | 115.70 | |
| 2018-03-31 | 101.44 | 293.06 | 82.05 | |
| 2017-12-31 | 83.23 | 519.58 | 48.41 | |
| 2017-09-30 | 53.81 | 564.04 | 13.26 | |
| 2017-06-30 | 24.51 | 608.49 | -21.89 | |
| 2017-03-31 | 13.60 | 416.80 | 39.76 | |
| 2016-12-31 | 2.69 | 225.11 | 101.40 | |
| 2016-09-30 | 2.27 | 162.04 | 134.31 | |
| 2016-06-30 | 1.84 | 98.97 | 167.22 | |
| 2016-03-31 | 2.03 | 92.03 | 98.28 | |
| 2015-12-31 | 2.21 | 85.08 | 29.34 | |
| 2015-09-30 | 2.52 | 71.35 | 27.42 | |
| 2015-06-30 | 2.83 | 57.62 | 25.50 | |
| 2015-03-31 | 2.48 | 3.53 | 54.21 | |
| 2014-12-31 | 2.12 | -50.56 | 82.92 | |
| 2014-06-30 | 1.71 | -47.41 | 83.27 | |
| 2014-03-31 | 1.30 | -2.74 | 52.73 | |
| 2013-12-31 | 0.89 | 41.93 | 22.20 | |
| 2013-06-30 | 0.25 | 5.08 | 17.78 | |
| 2013-03-31 | 0.32 | -26.50 | 16.98 | |
| 2012-12-31 | 0.38 | -58.08 | 16.17 | |
| 2012-09-30 | 48.87 | -157.91 | 16.32 | |
| 2012-06-30 | 47.04 | -224.85 | 14.88 | |
| 2012-03-31 | 69.44 | -257.17 | 40.45 |
*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.
- Atlas Arteria has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Atlas Arteria used its assets less efficiently than the Oceania Infrastructure industry average last year based on Return on Assets.
- It is difficult to establish if Atlas Arteria improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Atlas Arteria's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Infrastructure industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Atlas Arteria has a total score of 1/6, 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 Atlas Arteria'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 Atlas Arteria's finances.
The net worth of a company is the difference between its assets and liabilities.
- Atlas Arteria's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Atlas Arteria's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.1x 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.
All data from Atlas Arteria Company Filings, last reported 7 months ago.
| Date (Data in AUD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-06-30 | 2,152.60 | 1,873.54 | 155.96 |
| 2018-03-31 | 2,152.60 | 1,873.54 | 155.96 |
| 2017-12-31 | 2,162.08 | 1,734.64 | 122.69 |
| 2017-09-30 | 2,162.08 | 1,734.64 | 122.69 |
| 2017-06-30 | 1,621.17 | 1,498.60 | 122.55 |
| 2017-03-31 | 1,621.17 | 1,498.60 | 122.55 |
| 2016-12-31 | 1,073.00 | 0.00 | 223.37 |
| 2016-09-30 | 1,073.00 | 0.00 | 223.37 |
| 2016-06-30 | 859.67 | 0.00 | 221.04 |
| 2016-03-31 | 859.67 | 0.00 | 221.04 |
| 2015-12-31 | 864.96 | 0.00 | 65.38 |
| 2015-09-30 | 864.96 | 0.00 | 65.38 |
| 2015-06-30 | 816.50 | 0.00 | 43.74 |
| 2015-03-31 | 816.50 | 0.00 | 43.74 |
| 2014-12-31 | 822.89 | 0.00 | 30.12 |
| 2014-06-30 | 734.86 | 0.00 | 21.99 |
| 2014-03-31 | 734.86 | 0.00 | 21.99 |
| 2013-12-31 | 875.56 | 0.00 | 17.66 |
| 2013-06-30 | 798.15 | 0.00 | 16.90 |
| 2013-03-31 | 798.15 | 0.00 | 16.90 |
| 2012-12-31 | -980.59 | 2,514.15 | 56.00 |
| 2012-09-30 | -980.59 | 2,514.15 | 56.00 |
| 2012-06-30 | -919.42 | 2,428.08 | 58.96 |
| 2012-03-31 | -919.42 | 2,428.08 | 58.96 |
- Atlas Arteria's level of debt (87%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (0% vs 87% today).
- Debt is not well covered by operating cash flow (2.4%, less than 20% of total debt).
- Atlas Arteria earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Atlas Arteria's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Atlas Arteria has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Atlas Arteria'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
If you bought
A$2,000 of
Atlas Arteria
shares you are expected to receive
A$68
in your first year as a dividend.
Dividend Amount
- Atlas Arteria's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.74%).
- Atlas Arteria's dividend is below the markets top 25% of dividend payers in Australia (6.08%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Oceania Infrastructure Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 4% |
| Australia Market Average Dividend Yield | Market Cap Weighted Average of 420 Stocks | 4.4% |
| Australia Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Australia Bottom 25% Dividend Yield | 25th Percentile | 2.7% |
| Australia Top 25% Dividend Yield | 75th Percentile | 6.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in A$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.53 | 1.00 |
| 2022-12-31 | 0.50 | 2.00 |
| 2021-12-31 | 0.46 | 2.00 |
| 2020-12-31 | 0.38 | 8.00 |
| 2019-12-31 | 0.31 | 8.00 |
| 2018-12-31 | 0.24 | 8.00 |
| Date (Data in A$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-09-17 | 0.240 | 3.613 |
| 2018-03-28 | 0.240 | 3.725 |
| 2017-09-13 | 0.200 | 3.463 |
| 2017-03-23 | 0.190 | 3.386 |
| 2016-09-15 | 0.180 | 3.755 |
| 2016-03-10 | 0.190 | 3.662 |
| 2015-09-14 | 0.160 | 3.939 |
| 2015-02-25 | 0.164 | 4.936 |
| 2014-03-11 | 0.100 | 3.196 |
| 2013-09-11 | 0.066 | 2.483 |
| 2013-03-20 | 0.048 | 2.480 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Atlas Arteria has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Atlas Arteria only paid a dividend in the past 6 years.
Income/ dividend checks
We assess Atlas Arteria's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Atlas Arteria afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Atlas Arteria has a total score of 1/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| AGE | 47 |
| TENURE AS CEO | 1 years |
CEO Bio
Mr. James Hooke has been Chief Executive Officer at Atlas Arteria Limited(also known as Macquarie Atlas Roads Group) since February 1, 2018. Mr. Hooke had served as Director at Macquarie Infrastructure Corporation from September 2017 to September 5, 2018 and served as its chief executive officer from May 2009 to December 31, 2017. He served as the Chief Executive Officer of International-Matex Tank Terminals, Inc. since July 2014. Mr. Hooke has been a Managing Director in the Macquarie Capital Funds division of the Macquarie Group since 2007. Prior to joining Macquarie and since 2001, Mr. Hooke served in various senior management positions with Fairfax Media Limited, the largest newspaper publisher in Australia and New Zealand. He served as Managing Director of New South Wales of Fairfax Media Limited (Formerly known as John Fairfax Holdings Limited) until June 22, 2007 and also served as its General Manager of Regional and Community Newspapers since April 16, 2003. He serves as Chairman of The Gas Company, LLC. He serves as Director of International-Matex Tank Terminals, Inc. Mr. Hooke received a Bachelor of Arts and a Bachelor of Laws degree, both from the University of New South Wales.
CEO Compensation
- Insufficient data for James to compare compensation growth.
- Insufficient data for James to establish whether their remuneration is reasonable compared to companies of similar size in Australia.
Management Team Tenure
Average tenure of the Atlas Arteria management team in years:
- The average tenure for the Atlas Arteria management team is less than 2 years, this suggests a new team.
Management Team
James Hooke
Chief Executive Officer
47
1 yrs
Bodie Kuile
Chief Financial Officer
0.3 yrs
James Cook
COO & Division Director
Phillipa Chen
Head of Investor Relations
Christine Williams
General Counsel & Company Secretary
Navleen Prasad
Public Affairs Manager
Lyndal Coates
Company Secretary
2.3 yrs
Board of Directors Tenure
Average tenure and age of the Atlas Arteria board of directors in years:
- The average tenure for the Atlas Arteria board of directors is less than 3 years, this suggests a new board.
Board of Directors
Jeffrey Conyers
Independent Non-Executive Chairman
64
NL Scheinkestel
Independent Non-Executive Chairman
A$228K
58
3.8 yrs
Debbie Goodin
Independent Non-Executive Director
A$81K
51
1.4 yrs
Chris Leslie
Non-Executive Director of Macquarie Atlas Roads International Limited
53
1.4 yrs
David Bartholomew
Independent Non Executive Director
0.3 yrs
Jean-Georges Malcor
Independent Non-Executive Director
62
0.3 yrs
Derek Stapley
Independent Non-Executive Director of Macquarie Atlas Roads International Limited
57
8.7 yrs
James Keyes
Non-Executive Independent Director of Macquarie Atlas Roads International Limited
55
6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (A$) | Value (A$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20. Sep 18 | Buy | Deutsche Investment Management Americas Inc. | Company | 22. May 18 | 05. Sep 18 | 20,227 | A$6.81 | A$0 | ||
| 22. May 18 | Buy | Deutsche Investment Management Americas Inc. | Company | 15. May 18 | 16. May 18 | 74,461 | A$6.23 | A$0 | ||
| 20. Sep 18 | Sell | Deutsche Investment Management Americas Inc. | Company | 01. Jun 18 | 15. Jun 18 | -10,298 | A$6.39 | A$0 | ||
| 16. Dec 18 | Sell | The Vanguard Group, Inc. | Company | 31. Aug 18 | 12. Dec 18 | -113,960 | A$6.98 | A$-795,441 | ||
| 16. Dec 18 | Buy | The Vanguard Group, Inc. | Company | 13. Aug 18 | 11. Dec 18 | 1,209,849 | A$7.26 | A$8,784,614 | ||
| 22. May 18 | Buy | Wilsons Holding Company Pty Ltd., Asset Management Arm | Company | 17. May 18 | 18. May 18 | 10,400 | A$6.04 | A$0 | ||
| 05. Oct 18 | Sell | Magellan Asset Management Limited | Company | 12. Jun 18 | 21. Sep 18 | -777,457 | A$6.69 | A$-5,202,590 | ||
| 05. Oct 18 | Buy | Magellan Asset Management Limited | Company | 07. Jun 18 | 03. Oct 18 | 1,415,253 | A$7.23 | A$10,237,232 | ||
| 25. Sep 18 | Sell | FIL Limited | Company | 04. Jul 18 | 17. Sep 18 | -1,294,278 | A$7.22 | A$0 | ||
| 25. Sep 18 | Buy | FIL Limited | Company | 03. Jul 18 | 21. Sep 18 | 10,286,013 | A$7.02 | A$0 | ||
| 20. Sep 18 | Sell | DBX Advisors LLC | Company | 31. May 18 | 31. May 18 | -1,230 | A$6.65 | A$-8,180 | ||
| 20. Sep 18 | Sell | Deutsche Asset & Wealth Management | Company | 06. Jun 18 | 18. Sep 18 | -299,275 | A$7.24 | A$0 | ||
| 20. Sep 18 | Buy | Deutsche Asset & Wealth Management | Company | 12. Jun 18 | 06. Sep 18 | 121,281 | A$6.71 | A$0 | ||
| 20. Sep 18 | Sell | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 22. May 18 | 06. Sep 18 | -693,771 | A$7.18 | A$0 | ||
| 20. Sep 18 | Buy | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 21. May 18 | 06. Sep 18 | 799,074 | A$7.14 | A$0 | ||
| 20. Sep 18 | Sell | RREEF America L.L.C. | Company | 22. May 18 | 11. Sep 18 | -2,764,910 | A$7.18 | A$0 | ||
| 20. Sep 18 | Buy | RREEF America L.L.C. | Company | 04. Jun 18 | 18. Sep 18 | 10,002,400 | A$7.24 | A$0 | ||
| 21. Jun 18 | Sell | Macquarie Investment Management Australia Limited | Company | 20. Feb 18 | 18. Jun 18 | -1,678,353 | A$6.66 | A$0 | ||
| 21. Jun 18 | Buy | Macquarie Investment Management Australia Limited | Company | 19. Feb 18 | 18. Jun 18 | 2,704,349 | A$6.67 | A$0 | ||
| 21. Jun 18 | Sell | Macquarie Capital Investment Management LLC | Company | 05. Jun 18 | 05. Jun 18 | -12,203 | A$6.42 | A$-78,343 | ||
| 21. Jun 18 | Buy | Macquarie Capital Investment Management LLC | Company | 21. Mar 18 | 18. Jun 18 | 7,740,415 | A$6.65 | A$0 | ||
| 21. Jun 18 | Sell | Macquarie Group, Ltd., Banking & Securities Investments | Company | 19. Feb 18 | 18. Jun 18 | -2,879,385 | A$6.67 | A$0 | ||
| 21. Jun 18 | Buy | Macquarie Group, Ltd., Banking & Securities Investments | Company | 21. Feb 18 | 18. Jun 18 | 2,680,232 | A$6.66 | A$0 | ||
| 21. Jun 18 | Sell | Macquarie Investment Management Limited | Company | 20. Feb 18 | 15. Jun 18 | -123,987 | A$6.58 | A$0 | ||
| 21. Jun 18 | Buy | Macquarie Investment Management Limited | Company | 20. Feb 18 | 15. Jun 18 | 123,987 | A$6.58 | A$0 | ||
| 21. Jun 18 | Sell | Macquarie Investment Management Limited | Company | 19. Feb 18 | 18. Jun 18 | -2,303,411 | A$6.64 | A$0 | ||
| 21. Jun 18 | Buy | Macquarie Investment Management Limited | Company | 19. Feb 18 | 18. Jun 18 | 2,147,240 | A$6.67 | A$0 | ||
| 08. Jun 18 | Sell | Magellan Asset Management Limited | Company | 20. Mar 18 | 11. May 18 | -456,709 | A$6.36 | A$-2,905,353 | ||
| 08. Jun 18 | Buy | Magellan Asset Management Limited | Company | 09. Feb 18 | 06. Jun 18 | 823,430 | A$6.57 | A$5,406,888 | ||
| 30. Apr 18 | Sell | Wilsons Holding Company Pty Ltd., Asset Management Arm | Company | 27. Dec 17 | 26. Apr 18 | -32,763,182 | A$6.35 | A$0 | ||
| 22. May 18 | Sell | Deutsche Asset & Wealth Management | Company | 15. May 18 | 15. May 18 | -3,100 | A$6.18 | A$-19,158 | ||
| 22. May 18 | Buy | Deutsche Asset & Wealth Management | Company | 10. May 18 | 14. May 18 | 39,438 | A$6.32 | A$249,321 | ||
| 22. May 18 | Sell | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 07. May 18 | 15. May 18 | -39,856 | A$6.41 | A$0 | ||
| 22. May 18 | Buy | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 04. May 18 | 08. May 18 | 28,058 | A$6.47 | A$0 | ||
| 22. May 18 | Sell | RREEF America L.L.C. | Company | 04. May 18 | 17. May 18 | -291,720 | A$6.40 | A$0 | ||
| 22. May 18 | Buy | RREEF America L.L.C. | Company | 16. May 18 | 16. May 18 | 16,200 | A$6.09 | A$98,658 | ||
| 07. May 18 | Buy | DBX Advisors LLC | Company | 30. Apr 18 | 30. Apr 18 | 945 | A$6.43 | A$6,076 | ||
| 07. May 18 | Sell | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 30. Apr 18 | 30. Apr 18 | -2,307 | A$6.39 | A$-14,742 | ||
| 07. May 18 | Buy | Deutsche Bank, Private Banking and Investment Banking Investments | Company | 01. May 18 | 01. May 18 | 5,271 | A$6.45 | A$33,998 | ||
| 07. May 18 | Buy | RREEF America L.L.C. | Company | 02. May 18 | 03. May 18 | 29,000 | A$6.47 | A$187,121 | ||
| 07. May 18 | Buy | Deutsche Investment Management Americas Inc. | Company | 26. Apr 18 | 03. May 18 | 48,116 | A$6.44 | A$309,838 | ||
| 30. Apr 18 | Buy | DBX Advisors LLC | Company | 09. Feb 18 | 26. Apr 18 | 2,830 | A$6.02 | A$0 | ||
| 30. Apr 18 | Sell | Deutsche Asset & Wealth Management | Company | 17. Jan 18 | 20. Apr 18 | -195,570 | A$5.96 | A$0 | ||
| 30. Apr 18 | Buy | Deutsche Asset & Wealth Management | Company | 26. Feb 18 | 26. Apr 18 | 110,849 | A$6.18 | A$0 | ||
| 30. Apr 18 | Buy | RREEF America L.L.C. | Company | 27. Dec 17 | 26. Apr 18 | 8,315,661 | A$6.30 | A$0 | ||
| 30. Apr 18 | Sell | Deutsche Investment Management Americas Inc. | Company | 22. Jan 18 | 24. Apr 18 | -688,217 | A$6.02 | A$0 | ||
| 30. Apr 18 | Buy | Deutsche Investment Management Americas Inc. | Company | 27. Dec 17 | 26. Apr 18 | 4,833,715 | A$6.30 | A$0 | ||
Management checks
We assess Atlas Arteria's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Atlas Arteria 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
Should Atlas Arteria Limited (ASX:ALX) Focus On Improving This Fundamental Metric?
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Atlas Arteria Limited (ASX:ALX). … One way to conceptualize this, is that for each A$1 of shareholders' equity it has, the company made A$0.031 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDo Institutions Own Atlas Arteria Limited (ASX:ALX) Shares?
The big shareholder groups in Atlas Arteria Limited (ASX:ALX) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Taking a look at the our data on the ownership groups (below), it's seems that.
Simply Wall St - – Full articleAtlas Arteria Limited (ASX:ALX) Is Trading At A 23.54% Discount
by estimating the company's future cash flows and discounting them to their present 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 - – Full articleIs Atlas Arteria Limited (ASX:ALX) A Financially Sound Company?
Stocks with market capitalization between $2B and $10B, such as Atlas Arteria Limited (ASX:ALX) with a size of AU$4.5b, do not attract as much attention from the investing community as do the small-caps and large-caps. … Don’t forget that this is a general and concentrated examination of Atlas Arteria’s financial health, so you should conduct further analysis. … View our latest analysis for Atlas Arteria
Simply Wall St - – Full articleShould You Buy Atlas Arteria Limited (ASX:ALX) For Its Dividend?
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, Atlas Arteria Limited (ASX:ALX) has been paying a dividend to shareholders. … Let's take a look at Atlas Arteria in more detail.
Simply Wall St - – Full articleDo You Know Who Else Invests In Atlas Arteria Limited (ASX:ALX)?
Today, I will be analyzing Atlas Arteria Limited’s (ASX:ALX) recent ownership structure, an important but not-so-popular subject among individual investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … ASX:ALX Ownership Summary August 30th 18
Simply Wall St - – Full articleHow Financially Strong Is Atlas Arteria Limited (ASX:ALX)?
Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Atlas Arteria Limited (ASX:ALX), with a market capitalization of AU$4.39b, rarely draw their attention from the investing community. … Don’t forget that this is a general and concentrated examination of Atlas Arteria’s financial health, so you should conduct further analysis. … View our latest analysis for Atlas Arteria
Simply Wall St - – Full articleAt AU$6.43, Is It Time To Buy Atlas Arteria Limited (ASX:ALX)?
As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, what if the stock is still a bargain. … Let’s examine Atlas Arteria’s valuation and outlook in more detail to determine if there’s still a bargain opportunity
Simply Wall St - – Full articleShould You Be Tempted To Buy Atlas Arteria Limited (ASX:ALX) Because Of Its PE Ratio?
and want to begin learning the link between Atlas Arteria Limited (ASX:ALX)’s fundamentals and stock market performance. … Atlas Arteria Limited (ASX:ALX) is trading with a trailing P/E of 7.1x, which is lower than the industry average of 22.9x. … While ALX might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.
Simply Wall St - – Full articleInterested In Atlas Arteria Limited (ASX:ALX)? Here's What Its Recent Performance Looks Like
After looking at Atlas Arteria Limited's (ASX:ALX) latest earnings announcement (31 December 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … Check out our latest analysis for Atlas Arteria Did ALX beat its long-term earnings growth trend and its industry? … Given that these figures are relatively short-term thinking, I’ve determined an annualized five-year figure for Atlas Arteria's earnings, which stands at AU$72.50M This means on average, Atlas Arteria has been able to increasingly improve its profits over the past couple of years as well.
Simply Wall St - – Full articleCompany Info
Map
Description
Atlas Arteria Limited develops and operates toll roads and tunnels. It has interests in Autoroutes Paris-Rhin-Rhône, a 2,323 kilometer motorway network located in the east of France; ADELAC, a motorway road between Annecy in France and Geneva in Switzerland; Dulles Greenway, a 22 kilometer toll road located in northern Virginia, the United States; and Warnow Tunnel, a 2.1 kilometer toll road located in Rostock, Germany. The company was formerly known as Macquarie Atlas Roads Limited and changed its name to Atlas Arteria Limited in May 2018. Atlas Arteria Limited is based in Sydney, Australia.
Details
| Name: | Atlas Arteria Limited |
| ALX | |
| Exchange: | ASX |
| Founded: | |
| A$4,675,127,220 | |
| 669,789,000 | |
| Website: | http://www.atlasarteria.com |
| Address: |
Atlas Arteria Limited 50 Martin Place, Level 7, Sydney, New South Wales, 2000, Australia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ASX | ALX | Stapled Securities | Australian Securities Exchange | AU | AUD | 25. Jan 2010 | |
| OTCPK | MAQA.F | Stapled Securities | Pink Sheets LLC | US | USD | 25. Jan 2010 | |
| DB | M82 | Stapled Securities | Deutsche Boerse AG | DE | EUR | 25. Jan 2010 | |
| CHIA | ALX | Stapled Securities | Chi-X Australia | AU | AUD | 25. Jan 2010 |
Number of employees
Current staff
Industry
| Highways and Railtracks | |
| Transportation |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/19 10:37 |
| End of day share price update: | 2019/02/19 00:00 |
| Last estimates confirmation: | 2019/01/31 |
| Last earnings filing: | 2018/08/29 |
| Last earnings reported: | 2018/06/30 |
| Last annual earnings reported: | 2017/12/31 |
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.
