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Mitie Group plc, through its subsidiaries, provides strategic outsourcing services in the United Kingdom and internationally. The last earnings update was 91 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Mitie Group (MZ4) | -1.7% | 3.7% | -16.9% | -18.5% | -58.9% | -65.1% |
DE Commercial Services | 8.7% | 12.4% | 14.4% | -3.2% | 6.1% | -41.8% |
DE Market | 1.9% | 2.1% | 1.8% | -11% | 15.5% | 6.5% |
Is Mitie Group undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Mitie Group.
Data Point | Source | Value |
---|---|---|
Valuation Model | 2 Stage Free Cash Flow to Equity | |
Levered Free Cash Flow | Average of 8 Analyst Estimates (S&P Global) | See below |
Discount Rate (Cost of Equity) | See below | 11.5% |
Perpetual Growth Rate | 10-Year DE Government Bond Rate | 0.2% |
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 DE Govt Bond Rate | 0.2% |
Equity Risk Premium | S&P Global | 9.8% |
Commercial Services Unlevered Beta | Simply Wall St/ S&P Global | 0.78 |
Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.783 (1 + (1- 19%) (58.76%)) |
1.156 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.16 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.156 * 9.77%) |
11.52% |
Discounted Cash Flow Calculation for DB:MZ4 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Mitie Group 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 (GBP, Millions) | -7.64 | 59.72 | 68.61 | 68.32 | 68.03 |
Source | Analyst x5 | Analyst x6 | Analyst x6 | Est @ -0.42% | Est @ -0.42% |
Present Value Discounted (@ 11.52%) |
-6.85 | 48.02 | 49.46 | 44.16 | 39.43 |
Present value of next 5 years cash flows | £174.23 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= £68.03 × (1 + 0.23%) ÷ (11.52% – 0.23%) |
£603.64 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= £603.64 ÷ (1 + 11.52%)5 |
£349.90 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= £174.23 + £349.90 |
£524.13 |
Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £524.13 / 360.97 |
£1.62 |
Calculation | Result | |
---|---|---|
Non-primary Listing Adjustment Factor |
1 share in DB:MZ4
represents 1.11778x
of
LSE:MTO
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
1.11778x |
Value per Share (Listing Adjusted, EUR) |
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.45 x 1.11778 |
€1.62 |
Value per share (EUR) | From above. | €1.62 |
Current discount | Discount to share price of
€1.41
= -1 x (€1.41 - €1.62) / €1.62 |
12.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2018-09-30) in GBP | £-0.07 |
LSE:MTO Share Price ** | LSE (2019-02-21) in GBP | £1.27 |
Europe Commercial Services Industry PE Ratio | Median Figure of 107 Publicly-Listed Commercial Services Companies | 16.44x |
Germany Market PE Ratio | Median Figure of 420 Publicly-Listed Companies | 18.11x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Mitie Group.
Calculation | Outcome | |
---|---|---|
PE Ratio | = LSE:MTO Share Price ÷ EPS (both in GBP) = 1.27 ÷ -0.07 |
-17.74x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | -17.74x |
Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts |
44.7%per year |
Europe Commercial Services Industry PEG Ratio | Median Figure of 55 Publicly-Listed Commercial Services Companies | 1.24x |
Germany Market PEG Ratio | Median Figure of 268 Publicly-Listed Companies | 1.39x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2018-09-30) in GBP | £0.00 |
LSE:MTO Share Price * | LSE (2019-02-21) in GBP | £1.27 |
Germany Commercial Services Industry PB Ratio | Median Figure of 8 Publicly-Listed Commercial Services Companies | 1.69x |
Germany Market PB Ratio | Median Figure of 566 Publicly-Listed Companies | 1.79x |
Calculation | Outcome | |
---|---|---|
PB Ratio | = LSE:MTO Share Price ÷ Book Value per Share (both in GBP) = 1.27 ÷ 0.00 |
2283.39x |
* Primary Listing of Mitie Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
How is Mitie Group expected to perform in the next 1 to 3 years based on estimates from 8 analysts?
Data Point | Source | Value (per year) |
---|---|---|
DB:MZ4 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts | 44.7% |
DB:MZ4 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts | 3.7% |
Germany Commercial Services Industry Earnings Growth Rate | Market Cap Weighted Average | 52.4% |
Germany Commercial Services Industry Revenue Growth Rate | Market Cap Weighted Average | 3.9% |
Germany Market Earnings Growth Rate | Market Cap Weighted Average | 9.8% |
Germany Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*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.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (4 months ago) | See Below |
Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|---|---|---|---|
2023-03-31 | 2,514 | 1 | ||
2022-03-31 | 2,437 | 1 | ||
2021-03-31 | 2,409 | 122 | 70 | 8 |
2020-03-31 | 2,343 | 107 | 63 | 8 |
2019-03-31 | 2,186 | 47 | 50 | 8 |
Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2018-09-30 | 2,244 | -14 | -26 |
2018-06-30 | 2,224 | -12 | -26 |
2018-03-31 | 2,204 | -10 | -27 |
2017-12-31 | 2,224 | 47 | -34 |
2017-09-30 | 2,202 | 104 | -50 |
2017-06-30 | 2,163 | 113 | -51 |
2017-03-31 | 2,123 | 123 | -52 |
2016-09-30 | 1,946 | 95 | 48 |
2016-06-30 | 2,047 | 90 | 60 |
2016-03-31 | 2,147 | 85 | 72 |
2015-12-31 | 2,265 | 92 | 75 |
*GAAP earnings excluding extraordinary items.
Data Point | Source | Value |
---|---|---|
Past Financials | Company Filings (4 months ago) | See Below |
Future Estimates | Average of up to 8 Analyst Estimates (S&P Global) | See Below |
All data from Mitie Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|---|---|---|---|
2023-03-31 | ||||
2022-03-31 | ||||
2021-03-31 | 0.20 | 0.23 | 0.19 | 4.00 |
2020-03-31 | 0.18 | 0.21 | 0.15 | 4.00 |
2019-03-31 | 0.13 | 0.15 | 0.10 | 4.00 |
Date (Data in GBP Millions) | EPS * |
---|---|
2018-09-30 | -0.07 |
2018-06-30 | -0.07 |
2018-03-31 | -0.08 |
2017-12-31 | -0.09 |
2017-09-30 | -0.14 |
2017-06-30 | -0.14 |
2017-03-31 | -0.15 |
2016-09-30 | 0.14 |
2016-06-30 | 0.17 |
2016-03-31 | 0.20 |
2015-12-31 | 0.21 |
*GAAP earnings excluding extraordinary items.
How has Mitie Group performed over the past 5 years?
All data from Mitie Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2018-09-30 | 2,243.50 | -25.70 | 239.00 | |
2018-06-30 | 2,223.60 | -26.40 | 230.65 | |
2018-03-31 | 2,203.70 | -27.10 | 222.30 | |
2017-12-31 | 2,223.50 | -33.75 | 235.55 | |
2017-09-30 | 2,201.90 | -49.70 | 245.70 | |
2017-06-30 | 2,162.65 | -50.65 | 241.85 | |
2017-03-31 | 2,123.40 | -51.60 | 238.00 | |
2016-09-30 | 1,946.40 | 48.00 | 155.60 | |
2016-06-30 | 2,046.65 | 59.80 | 170.30 | |
2016-03-31 | 2,146.90 | 71.60 | 185.00 | |
2015-12-31 | 2,265.00 | 74.80 | 213.70 | |
2015-09-30 | 2,298.10 | 73.90 | 227.00 | |
2015-06-30 | 2,285.95 | 54.45 | 223.90 | |
2015-03-31 | 2,273.80 | 35.00 | 220.80 | |
2014-12-31 | 2,253.95 | 23.95 | 205.85 | |
2014-09-30 | 2,234.10 | 12.90 | 190.90 | |
2014-06-30 | 2,227.60 | 30.60 | 199.80 | |
2014-03-31 | 2,221.10 | 48.30 | 208.70 | |
2013-12-31 | 2,200.40 | 47.40 | 233.35 | |
2013-09-30 | 2,179.70 | 46.50 | 258.00 | |
2013-06-30 | 2,150.10 | 44.35 | 254.20 | |
2013-03-31 | 2,120.50 | 42.20 | 250.40 | |
2012-12-31 | 2,088.95 | 54.30 | 232.50 | |
2012-09-30 | 2,057.40 | 66.40 | 214.60 | |
2012-06-30 | 2,029.95 | 69.15 | 209.95 | |
2012-03-31 | 2,002.50 | 71.90 | 205.30 |
*GAAP earnings excluding extraordinary items.
How is Mitie Group's financial health and their level of debt?
All data from Mitie Group Company Filings, last reported 4 months ago.
Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2018-09-30 | 0.20 | 268.30 | 67.70 |
2018-06-30 | 0.20 | 268.30 | 67.70 |
2018-03-31 | -24.00 | 259.40 | 59.80 |
2017-12-31 | -24.00 | 259.40 | 59.80 |
2017-09-30 | 99.50 | 296.60 | 93.20 |
2017-06-30 | 99.50 | 296.60 | 93.20 |
2017-03-31 | 89.80 | 312.10 | 164.90 |
2016-09-30 | 225.30 | 325.10 | 62.50 |
2016-06-30 | 225.30 | 325.10 | 62.50 |
2016-03-31 | 361.50 | 285.80 | 93.10 |
2015-12-31 | 415.10 | 285.80 | 93.10 |
2015-09-30 | 390.10 | 277.70 | 53.00 |
2015-06-30 | 390.10 | 277.70 | 53.00 |
2015-03-31 | 378.30 | 281.00 | 96.40 |
2014-12-31 | 378.30 | 281.00 | 96.40 |
2014-09-30 | 376.60 | 275.40 | 41.60 |
2014-06-30 | 376.60 | 275.40 | 41.60 |
2014-03-31 | 403.90 | 275.70 | 89.10 |
2013-12-31 | 403.90 | 275.70 | 89.10 |
2013-09-30 | 409.20 | 276.20 | 53.90 |
2013-06-30 | 409.20 | 276.20 | 53.90 |
2013-03-31 | 405.30 | 287.00 | 90.80 |
2012-12-31 | 405.30 | 287.00 | 90.80 |
2012-09-30 | 413.30 | 194.10 | 60.00 |
2012-06-30 | 413.30 | 194.10 | 60.00 |
2012-03-31 | 416.30 | 168.40 | 60.80 |
What is Mitie Group's current dividend yield, its reliability and sustainability?
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 8 Analyst Estimates (S&P Global) | See Below |
Germany Commercial Services Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 2.8% |
Germany Market Average Dividend Yield | Market Cap Weighted Average of 332 Stocks | 3% |
Germany Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
Germany Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
Germany Top 25% Dividend Yield | 75th Percentile | 3.9% |
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 £) | Dividend per Share (annual) | Avg. No. Analysts |
---|---|---|
2023-03-31 | ||
2022-03-31 | ||
2021-03-31 | 0.05 | 8.00 |
2020-03-31 | 0.04 | 8.00 |
2019-03-31 | 0.04 | 8.00 |
Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2018-07-31 | 0.053 | 3.901 |
2017-11-20 | 0.027 | 1.533 |
2017-06-23 | 0.000 | 0.000 |
2017-06-12 | 0.000 | 0.000 |
2016-06-10 | 0.121 | 5.453 |
2016-05-23 | 0.121 | 4.283 |
2015-06-10 | 0.117 | 3.956 |
2015-05-18 | 0.117 | 3.798 |
2014-06-09 | 0.110 | 3.744 |
2014-05-19 | 0.110 | 3.368 |
2013-05-20 | 0.103 | 3.466 |
2012-06-06 | 0.096 | 3.437 |
2012-05-21 | 0.096 | 3.431 |
2012-01-31 | 0.093 | 3.366 |
2011-05-23 | 0.098 | 4.131 |
2010-11-22 | 0.082 | 3.846 |
2010-06-01 | 0.082 | 3.996 |
2010-05-17 | 0.082 | 3.516 |
2009-11-23 | 0.074 | 3.214 |
2009-05-18 | 0.072 | 3.059 |
2009-02-23 | 0.066 | 3.447 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Phillip Bentley, also known as Phil, has been the Chief Executive Officer of Mitie Group plc since December 12, 2016. Mr. Bentley served as the Chief Executive Officer and Executive Director of Cable & Wireless Communications Plc, parent company of Cable & Wireless Jamaica Limited from January 1, 2014 to May 16, 2016. He has Executive and non-executive experience with FTSE 100 public companies for over 15 years. He has Strategic and commercial experience, at both national and global level. He has Extensive executive and leadership experience from across industry. He has Extensive financial, audit and risk management systems experience. Mr. Bentley served as the Managing Director of British Gas Energy Services Ltd. from February 2007 to June 30, 2013. He served as the Chief Executive of British Gas Services Limited. He served as Group Finance Director of Centrica PLC from 2000 to February 2007 and its Managing Director of Europe from July 2004 to September 2006. He served as the Managing Director of Europe from July 2004 to September 2006. He served as a Finance Director of UDV-Guinness from 1999 to 2000 and also served as Group Treasurer and Director of Risk Management of Diageo plc since 1997 and Group Treasurer at Grand Metropolitan plc since 1995. He joined BP's graduate recruitment scheme in 1980, training as a Management accountant. He worked in China from 1983 to 1985, Egypt (1988-91) and the USA, before returning to the UK as Head of Capital Markets. He joined Grand Metropolitan in 1995, which became Diageo in 1997. He has been a Director of Mitie Group since November 1, 2016. He served as a Non-Executive Director of IMI plc since October 1, 2012 until December 31, 2014. He spent 15 years in finance roles at BP Plc. Mr. Bentley served as an Executive Director of Centrica plc from 2000 to 2013. He served as a Non-Executive Director of Kingfisher Plc from October 4, 2002 to March 17, 2010. He is Accountant by profession, with a Master's Degree from Oxford University and an MBA from INSEAD, Fontainebleau.
Average tenure of the Mitie Group management team in years:
Average tenure and age of the Mitie Group board of directors in years:
Mitie Group plc, through its subsidiaries, provides strategic outsourcing services in the United Kingdom and internationally. It offers engineering services, such as technical and building maintenance services, as well as offers specialist services, such as heating, cooling, lighting, water treatment, and building controls; and security services and products, including security personnel, emergency mobile response solutions, and fire and security systems. The company also provides professional services, including capital project consultancy, energy consultancy, real estate advisory, records management consultancy, security and risk strategy, sustainability strategy, technical assets strategy, and workplace and design services; and cleaning and environmental services, such as pest control and landscaping services. In addition, it offers document management services; custody services, such as immigration and prison services; and indoor and outdoor event catering services. Further, the company provides property management services primarily to clients in the social housing sector; and painting and commercial refurbishment roofing services. Mitie Group plc was founded in 1987 and is headquartered in London, the United Kingdom.
Name: | Mitie Group plc |
MZ4 | |
Exchange: | DB |
Founded: | 1987 |
£525,739,487 | |
360,972,363 | |
Website: | http://www.mitie.com |
Address: |
Mitie Group plc The Shard, Level 12, 32 London Bridge Street, London, Greater London, SE1 9SG, United Kingdom |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
LSE | MTO | Ordinary Shares | London Stock Exchange | GB | GBP | 16. Sep 1994 | |
OTCPK | MITF.F | Ordinary Shares | Pink Sheets LLC | US | USD | 16. Sep 1994 | |
DB | MZ4 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 16. Sep 1994 | |
BATS-CHIXE | MTOL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 16. Sep 1994 | |
OTCPK | MITF.Y | ADS | Pink Sheets LLC | US | USD | 27. May 2011 |
Environmental and Facilities Services | |
Commercial Services |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/02/21 21:36 |
End of day share price update: | 2019/02/21 00:00 |
Last estimates confirmation: | 2019/02/02 |
Last earnings filing: | 2018/11/22 |
Last earnings reported: | 2018/09/30 |
Last annual earnings reported: | 2018/03/31 |
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.