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Atlas Arteria

ASX:ALX
Snowflake Description

Moderate growth potential and slightly overvalued.

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

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
1.7%
ASX:ALX
-1.4%
Oceania Infrastructure
0.7%
AU Market
1 Year Returns
28.6%
ASX:ALX
7.6%
Oceania Infrastructure
1.6%
AU Market
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.
Price Volatility
ALX
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Atlas Arteria.

ASX:ALX Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for ASX:ALX
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.

ASX:ALX DCF 1st Stage: Next 5 year cash flow forecast
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
ASX:ALX DCF 2nd Stage: Terminal Value
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
ASX:ALX Total Equity Value
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
ASX:ALX Discount to Share Price
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
Amount off the current price Atlas Arteria is available for.
Intrinsic value
49%
Share price is A$7.02 vs Future cash flow value of A$13.68
Current Discount Checks
For Atlas Arteria to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
ASX:ALX PE (Price to Earnings) Ratio Data Sources
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.

ASX:ALX PE (Price to Earnings) Ratio Calculation
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?
Raw Data
ASX:ALX PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

ASX:ALX PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
ASX:ALX PB (Price to Book) Ratio Data Sources
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
ASX:ALX PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Atlas Arteria'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. 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

 How is Atlas Arteria expected to perform in the next 1 to 3 years based on estimates from 5 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
37.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Atlas Arteria expected to grow at an attractive rate?
  • 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
Raw Data
ASX:ALX Future Growth Rates Data Sources
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
Raw Data
ASX:ALX Analysts Growth Expectations Data Sources
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 numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:ALX Future Estimates Data
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
ASX:ALX Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Atlas Arteria's earnings are expected to grow significantly at over 20% yearly.
  • Atlas Arteria's revenue is expected to grow by 0.3% 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:ALX 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.

ASX:ALX Future Estimates Data
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
ASX:ALX Past Financials Data
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.

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.
  • Atlas Arteria is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Atlas Arteria'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 Oceania market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Oceania 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.
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
Below we compare Atlas Arteria's growth in the last year to its industry (Infrastructure).
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.
  • 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
Atlas Arteria'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 Atlas Arteria Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:ALX Past Revenue, Cash Flow and Net Income Data
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.
X
Past performance checks
We assess Atlas Arteria'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 Infrastructure 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.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Atlas Arteria'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.
  • 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.
Raw Data

All data from Atlas Arteria Company Filings, last reported 7 months ago.

ASX:ALX Past Debt and Equity Data
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.
X
Financial health checks
We assess Atlas Arteria'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. Atlas Arteria has a total score of 1/6, 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 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
Dividend payments
3.42%
Current annual income from Atlas Arteria dividends. Estimated to be 5.41% next year.
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
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?
  • 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.
Raw Data
ASX:ALX 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 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.

ASX:ALX Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.53 1.00
2022-12-31 0.50 2.00
2021-12-31 0.46 2.00
2020-12-31 0.38 8.00
2019-12-31 0.31 8.00
2018-12-31 0.24 8.00
ASX:ALX Past Annualized Dividends Data
Date (Data in A$) 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.
Current Payout to shareholders
What portion of Atlas Arteria's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Atlas Arteria's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Atlas Arteria afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

 What is the CEO of Atlas Arteria'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
James Hooke
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:

1
Average Tenure
  • The average tenure for the Atlas Arteria management team is less than 2 years, this suggests a new team.
Management Team

James Hooke

TITLE
Chief Executive Officer
AGE
47
TENURE
1 yrs

Bodie Kuile

TITLE
Chief Financial Officer
TENURE
0.3 yrs

James Cook

TITLE
COO & Division Director

Phillipa Chen

TITLE
Head of Investor Relations

Christine Williams

TITLE
General Counsel & Company Secretary

Navleen Prasad

TITLE
Public Affairs Manager

Lyndal Coates

TITLE
Company Secretary
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Atlas Arteria board of directors in years:

1.4
Average Tenure
57
Average Age
  • 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

TITLE
Independent Non-Executive Chairman
AGE
64

NL Scheinkestel

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$228K
AGE
58
TENURE
3.8 yrs

Debbie Goodin

TITLE
Independent Non-Executive Director
COMPENSATION
A$81K
AGE
51
TENURE
1.4 yrs

Chris Leslie

TITLE
Non-Executive Director of Macquarie Atlas Roads International Limited
AGE
53
TENURE
1.4 yrs

David Bartholomew

TITLE
Independent Non Executive Director
TENURE
0.3 yrs

Jean-Georges Malcor

TITLE
Independent Non-Executive Director
AGE
62
TENURE
0.3 yrs

Derek Stapley

TITLE
Independent Non-Executive Director of Macquarie Atlas Roads International Limited
AGE
57
TENURE
8.7 yrs

James Keyes

TITLE
Non-Executive Independent Director of Macquarie Atlas Roads International Limited
AGE
55
TENURE
6 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$) Value (A$)
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
X
Management checks
We assess Atlas Arteria'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. 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 -

Do 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 -

Atlas 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 -

Is 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 -

Should 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 -

Do 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 -

How 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 -

At 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 -

Should 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 -

Interested 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 -

Company 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
Staff numbers
0
Atlas Arteria employees.
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.