Keg Royalties Income Fund
Market Cap
CA$89.4m
Last Updated
2020/09/19 06:03 UTC
Data Sources
Company Financials
Executive Summary
The Keg Royalties Income Fund operates as an unincorporated open-ended limited purpose trust. More Details
Rewards
Risk Analysis
Snowflake Analysis
Outstanding track record and undervalued.
Similar Companies
Share Price & News
How has Keg Royalties Income Fund's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: KEG.UN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-3.3%
KEG.UN
1.9%
CA Hospitality
0.6%
CA Market
1 Year Return
-52.6%
KEG.UN
-28.5%
CA Hospitality
-7.5%
CA Market
Return vs Industry: KEG.UN underperformed the Canadian Hospitality industry which returned -28.5% over the past year.
Return vs Market: KEG.UN underperformed the Canadian Market which returned -7.5% over the past year.
Shareholder returns
| KEG.UN | Industry | Market | |
|---|---|---|---|
| 7 Day | -3.3% | 1.9% | 0.6% |
| 30 Day | -8.7% | 1.6% | -1.1% |
| 90 Day | -18.7% | -0.3% | 6.6% |
| 1 Year | -49.3%-52.6% | -26.0%-28.5% | -4.2%-7.5% |
| 3 Year | -52.5%-60.9% | -6.2%-14.2% | 10.0%-0.6% |
| 5 Year | -39.7%-55.8% | 48.7%31.8% | 42.3%20.3% |
Price Volatility Vs. Market
How volatile is Keg Royalties Income Fund's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Should You Review Recent Insider Transactions At The Keg Royalties Income Fund (TSE:KEG.UN)?2 years ago | Simply Wall St
Does The Keg Royalties Income Fund's (TSE:KEG.UN) PE Ratio Warrant A Buy?2 years ago | Simply Wall St
How The Keg Royalties Income Fund (TSE:KEG.UN) Delivered A Better ROE Than Its IndustryValuation
Is Keg Royalties Income Fund undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: KEG.UN (CA$7.87) is trading below our estimate of fair value (CA$15.82)
Significantly Below Fair Value: KEG.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: KEG.UN is good value based on its PE Ratio (1.9x) compared to the CA Hospitality industry average (17.2x).
PE vs Market: KEG.UN is good value based on its PE Ratio (1.9x) compared to the Canadian market (16.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate KEG.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: KEG.UN is good value based on its PB Ratio (0.7x) compared to the CA Hospitality industry average (1x).
Next Steps
Future Growth
How is Keg Royalties Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
64.4%
Forecasted Consumer Services industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Keg Royalties Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether Keg Royalties Income Fund is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Keg Royalties Income Fund competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Consumer Services industry.
Past Performance
How has Keg Royalties Income Fund performed over the past 5 years?
36.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: KEG.UN has high quality earnings.
Growing Profit Margin: KEG.UN's current net profit margins are higher than last year (51.1%).
Past Earnings Growth Analysis
Earnings Trend: KEG.UN's earnings have grown significantly by 36% per year over the past 5 years.
Accelerating Growth: KEG.UN's earnings growth over the past year (200.2%) exceeds its 5-year average (36% per year).
Earnings vs Industry: KEG.UN earnings growth over the past year (200.2%) exceeded the Hospitality industry -6.7%.
Return on Equity
High ROE: KEG.UN's Return on Equity (35.5%) is considered high.
Next Steps
Financial Health
How is Keg Royalties Income Fund's financial position?
Financial Position Analysis
Short Term Liabilities: KEG.UN's short term assets (CA$3.6M) exceed its short term liabilities (CA$1.1M).
Long Term Liabilities: KEG.UN's short term assets (CA$3.6M) do not cover its long term liabilities (CA$118.5M).
Debt to Equity History and Analysis
Debt Level: KEG.UN's debt to equity ratio (89.6%) is considered high.
Reducing Debt: KEG.UN's debt to equity ratio has reduced from 158.2% to 89.6% over the past 5 years.
Debt Coverage: KEG.UN's debt is not well covered by operating cash flow (18.4%).
Interest Coverage: KEG.UN's interest payments on its debt are not well covered by EBIT (2.3x coverage).
Balance Sheet
Next Steps
Dividend
What is Keg Royalties Income Fund current dividend yield, its reliability and sustainability?
5.34%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: KEG.UN's dividend (5.34%) is higher than the bottom 25% of dividend payers in the Canadian market (1.77%).
High Dividend: KEG.UN's dividend (5.34%) is low compared to the top 25% of dividend payers in the Canadian market (5.72%).
Stability and Growth of Payments
Stable Dividend: KEG.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: KEG.UN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (23.6%), KEG.UN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
18.3yrs
Average board tenure
CEO
Keg Royalties Income Fund has no CEO, or we have no data on them.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Chairman of the Board of Trustees & Corporate Secretary | no data | CA$30.50k | 0.040% CA$ 35.4k | |
| President & Director of Keg GP Ltd and Chairman & CEO of KEG Restaurants Ltd. | no data | no data | no data | |
| Exec. VP | 18.33yrs | no data | no data | |
| Director of Keg Restaurants Ltd | no data | no data | no data | |
| Independent Trustee | 18.42yrs | CA$30.50k | 0.53% CA$ 472.2k | |
| Independent Trustee | 7.25yrs | CA$30.50k | 0.088% CA$ 78.7k |
18.3yrs
Average Tenure
Experienced Board: KEG.UN's board of directors are seasoned and experienced ( 18.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: KEG.UN insiders have only sold shares 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
The Keg Royalties Income Fund's company bio, employee growth, exchange listings and data sources
Key Information
- Name: The Keg Royalties Income Fund
- Ticker: KEG.UN
- Exchange: TSX
- Founded: 2002
- Industry: Restaurants
- Sector: Consumer Services
- Market Cap: CA$89.352m
- Shares outstanding: 11.35m
- Website: https://www.kegincomefund.com
Location
- The Keg Royalties Income Fund
- 10100 Shellbridge Way
- Richmond
- British Columbia
- V6X 2W7
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| KEG.UN | TSX (The Toronto Stock Exchange) | Yes | Fund Units | CA | CAD | May 2002 |
| KRIU.F | OTCPK (Pink Sheets LLC) | Yes | Fund Units | US | USD | May 2002 |
Biography
The Keg Royalties Income Fund operates as an unincorporated open-ended limited purpose trust. The company, through the Keg Rights Limited Partnership and The Keg Holdings Trust, holds trademarks, trade nam ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/19 06:03 |
| End of Day Share Price | 2020/09/18 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
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.