D2O Stock Overview

Engages in acquiring and managing a portfolio of water entitlements. More details

D2O fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	5/6
Financial Health	2/6
Dividends	1/6

Rewards

Trading at 29.2% below our estimate of its fair value

Earnings grew by 39.7% over the past year

Risk Analysis

Debt is not well covered by operating cash flow

Dividend of 5.52% is not well covered by earnings or free cash flows

Earnings are forecast to decline by an average of 4.1% per year for the next 3 years

Shareholders have been diluted in the past year

My Notes

Capture your thoughts, links and company narrative

Duxton Water Limited Competitors

TPC Consolidated

ASX:TPC

AU$96.5m

LGI

ASX:LGI

AU$264.7m

Thessaloniki Water Supply & Sewerage Co

ATSE:EYAPS

€118.0m

Jilin Province Chuncheng Heating

SEHK:1853

HK$746.7m

Price History & Performance

Summary of share price highs, lows and changes for Duxton Water
Historical stock prices
Current Share Price	AU$1.34
52 Week High	AU$1.59
52 Week Low	AU$1.27
Beta	-0.0086
1 Month Change	-3.96%
3 Month Change	-3.26%
1 Year Change	-13.03%
3 Year Change	-12.75%
5 Year Change	-6.64%
Change since IPO	26.54%

Recent updates

Shareholder Returns

	D2O	AU Water Utilities	AU Market
7D	1.9%	-0.2%	-0.6%
1Y	-13.0%	1.6%	7.4%

Return vs Industry: D2O underperformed the Australian Water Utilities industry which returned 1.6% over the past year.

Return vs Market: D2O underperformed the Australian Market which returned 7.4% over the past year.

Price Volatility

Is D2O's price volatile compared to industry and market?
D2O volatility
D2O Average Weekly Movement	2.9%
Water Utilities Industry Average Movement	4.3%
Market Average Movement	8.0%
10% most volatile stocks in AU Market	16.8%
10% least volatile stocks in AU Market	3.0%

Stable Share Price: D2O has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: D2O's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2016	n/a	n/a	www.duxtonwater.com.au

Duxton Water Limited engages in acquiring and managing a portfolio of water entitlements. It provides irrigation community with a range of water supply solutions. The company was incorporated in 2016 and is based in Stirling, Australia.

Duxton Water Limited Fundamentals Summary

How do Duxton Water's earnings and revenue compare to its market cap?
D2O fundamental statistics
Market cap	AU$209.73m
Earnings (TTM)	AU$11.76m
Revenue (TTM)	AU$31.14m

17.8x

P/E Ratio

6.7x

P/S Ratio

Is D2O overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
D2O income statement (TTM)
Revenue	AU$31.14m
Cost of Revenue	AU$462.00k
Gross Profit	AU$30.68m
Other Expenses	AU$18.92m
Earnings	AU$11.76m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.075
Gross Margin	98.52%
Net Profit Margin	37.75%
Debt/Equity Ratio	52.6%

How did D2O perform over the long term?

See historical performance and comparison

Dividends

5.5%

Current Dividend Yield

94%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/02 02:45
End of Day Share Price	2025/01/02 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Duxton Water Limited is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jonathan Snape	Bell Potter
David Fraser	MST Financial Services Pty Limited
Jason Palmer	Taylor Collison Limited

D2O Stock Overview

Rewards

Risk Analysis

Duxton Water Limited Competitors

ASX:TPC

AU$96.5m

ASX:LGI

AU$264.7m

ATSE:EYAPS

€118.0m

SEHK:1853

HK$746.7m

Price History & Performance

Recent News & Updates

Upcoming dividend of AU$0.037 per share

First half dividend increased to AU$0.037

Duxton Water Limited to Report First Half, 2024 Results on Aug 30, 2024

Duxton Water Limited Declares Fully Franked Dividend, Payable on October 25, 2024

Upcoming dividend of AU$0.036 per share

Duxton Water Limited, Annual General Meeting, May 29, 2024

Recent updates

Upcoming dividend of AU$0.037 per share

First half dividend increased to AU$0.037

Duxton Water Limited to Report First Half, 2024 Results on Aug 30, 2024

Duxton Water Limited Declares Fully Franked Dividend, Payable on October 25, 2024

Upcoming dividend of AU$0.036 per share

Duxton Water Limited, Annual General Meeting, May 29, 2024

Final dividend increased to AU$0.036

Full year 2023 earnings released: EPS: AU$0.048 (vs AU$0.084 in FY 2022)

Duxton Water Limited Announces Dividend for the Six Months Ended June 30, 2023, Payable on October 27, 2023

Upcoming dividend of AU$0.035 per share at 4.1% yield

First half 2023 earnings released: EPS: AU$0.024 (vs AU$0.037 in 1H 2022)

Duxton Water Limited Announces Interim Dividend for Year 2023, Payable on 27 October 2023; Reaffirms Dividend Guidance for the Final 2023 and Interim 2024

New major risk - Shareholder dilution

Duxton Water Limited has completed a Follow-on Equity Offering in the amount of AUD 44.230806 million.

New minor risk - Shareholder dilution

Duxton Water Limited (ASX:D2O) entered into an agreement to acquire 4,770 megalitres of water entitlement from Treasury Wine Estates Limited (ASX:TWE) for AUD 39.1 million.

Upcoming dividend of AU$0.034 per share at 3.8% yield

Full year 2022 earnings released: EPS: AU$0.084 (vs AU$0.071 in FY 2021)

Upcoming dividend of AU$0.033 per share

First half 2022 earnings released: EPS: AU$0.037 (vs AU$0.017 in 1H 2021)

Duxton Water Limited Declares Interim Dividend for 2022, Payable on 28 October 2022 and Provides Dividend Guidance for the Final 2022, Interim 2023, Final 2023 and Interim 2024

Duxton Water Limited, Annual General Meeting, May 30, 2022

Upcoming dividend of AU$0.032 per share

Duxton Water Limited Appoints Brendan Rinaldi as an Independent Non-Executive Director

Now 20% undervalued

Duxton Water Limited Provides Ordinary Fully Paid Dividend for the Six Months Ended December 31, 2021, Payable on April 29, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Duxton Water Limited Provides Final Fully Franked Dividend Guidance for the Year 2021

Upcoming dividend of AU$0.031 per share

First half 2021 earnings released: EPS AU$0.017 (vs AU$0.036 loss in 1H 2020)

Duxton Water Limited Provides Interim and Final Fully Franked Dividend Guidance for the Year 2021 and 2022

Upcoming dividend of AU$0.03 per share

Full year 2020 earnings released: EPS AU$0.073 (vs AU$0.064 in FY 2019)

Full year 2020 earnings released: EPS AU$0.001 (vs AU$0.064 in FY 2019)

New 90-day low: AU$1.36

Duxton Water Limited Announces Board Changes

New 90-day high: AU$1.41

New 90-day low - AU$1.30

First half earnings released

New 90-day high - AU$1.40