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Metcash

DB:MG9
Snowflake Description

Excellent balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MG9
DB
A$2B
Market Cap
  1. Home
  2. DE
  3. Consumer Retailing
Company description

Metcash Limited operates as a wholesale distribution and marketing company in Australia and New Zealand. The last earnings update was 138 days ago. More info.


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MG9 Share Price and Events
7 Day Returns
4.4%
DB:MG9
-0.5%
Europe Consumer Retailing
2.4%
DE Market
1 Year Returns
-14.6%
DB:MG9
0.9%
Europe Consumer Retailing
-6.2%
DE Market
MG9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Metcash (MG9) 4.4% 6.5% 12% -14.6% 51.1% -5.7%
Europe Consumer Retailing -0.5% -0.5% 2.2% 0.9% -4.5% -8.5%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • MG9 underperformed the Consumer Retailing industry which returned 0.9% over the past year.
  • MG9 underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
MG9
Industry
5yr Volatility vs Market

MG9 Value

 Is Metcash 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 Metcash 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 Metcash.

DB:MG9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 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.

Calculation of Discount Rate/ Cost of Equity for DB:MG9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.465 (1 + (1- 30%) (7.93%))
0.659
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)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:MG9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Metcash is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MG9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 5%)
2019 183.00 Analyst x2 174.29
2020 165.00 Analyst x3 149.67
2021 173.00 Analyst x1 149.46
2022 173.01 Analyst x1 142.36
2023 171.60 Est @ -0.82% 134.48
2024 170.73 Est @ -0.5% 127.43
2025 170.25 Est @ -0.28% 121.02
2026 170.02 Est @ -0.13% 115.11
2027 169.98 Est @ -0.02% 109.61
2028 170.07 Est @ 0.05% 104.45
Present value of next 10 years cash flows A$1,327.89
DB:MG9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$170.07 × (1 + 0.23%) ÷ (5% – 0.23%)
A$3,575.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$3,575.07 ÷ (1 + 5%)10
A$2,195.62
DB:MG9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,327.89 + A$2,195.62
A$3,523.51
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$3,523.51 / 909.26
A$3.88
DB:MG9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MG9 represents 0.62956x of ASX:MTS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.62956x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 3.88 x 0.62956
€2.44
Value per share (EUR) From above. €2.44
Current discount Discount to share price of €1.73
= -1 x (€1.73 - €2.44) / €2.44
29.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Metcash is available for.
Intrinsic value
29%
Share price is €1.73 vs Future cash flow value of €2.44
Current Discount Checks
For Metcash to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Metcash's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Metcash's share price is below the future cash flow value, but not 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 Metcash's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Metcash's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MG9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in AUD A$-0.15
ASX:MTS Share Price ** ASX (2019-04-18) in AUD A$2.74
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.38x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Metcash.

DB:MG9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:MTS Share Price ÷ EPS (both in AUD)

= 2.74 ÷ -0.15

-17.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Metcash is loss making, we can't compare its value to the Europe Consumer Retailing industry average.
  • Metcash is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Metcash's expected growth come at a high price?
Raw Data
DB:MG9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -17.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
14.7%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.71x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Metcash, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Metcash's assets?
Raw Data
DB:MG9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in AUD A$1.27
ASX:MTS Share Price * ASX (2019-04-18) in AUD A$2.74
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.58x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:MG9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:MTS Share Price ÷ Book Value per Share (both in AUD)

= 2.74 ÷ 1.27

2.16x

* Primary Listing of Metcash.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Metcash is overvalued based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess Metcash'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Metcash has a total score of 1/6, 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.

MG9 Future Performance

 How is Metcash expected to perform in the next 1 to 3 years based on estimates from 11 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
14.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Metcash expected to grow at an attractive rate?
  • Metcash's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Metcash's earnings growth is expected to exceed the Germany market average.
  • Metcash's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MG9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MG9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 14.7%
DB:MG9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts -0.9%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
DB:MG9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MG9 Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-04-30 12,865 206 1
2021-04-30 13,523 246 208 9
2020-04-30 13,590 259 204 11
2019-04-30 13,572 220 204 11
DB:MG9 Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-10-31 14,598 248 -147
2018-07-31 14,531 268 -148
2018-04-30 14,464 289 -150
2018-01-31 13,539 312 20
2017-10-31 13,617 335 190
2017-07-31 13,870 320 181
2017-04-30 14,122 305 172
2016-10-31 13,356 293 166
2016-07-31 13,379 230 172
2016-04-30 13,403 166 178

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Metcash's earnings are expected to grow by 14.7% yearly, however this is not considered high growth (20% yearly).
  • Metcash's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
DB:MG9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Metcash Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MG9 Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-04-30 0.23 0.23 0.23 1.00
2021-04-30 0.22 0.24 0.20 6.00
2020-04-30 0.22 0.23 0.20 8.00
2019-04-30 0.22 0.24 0.20 8.00
DB:MG9 Past Financials Data
Date (Data in AUD Millions) EPS *
2018-10-31 -0.15
2018-07-31 -0.15
2018-04-30 -0.15
2018-01-31 0.02
2017-10-31 0.19
2017-07-31 0.19
2017-04-30 0.18
2016-10-31 0.18
2016-07-31 0.19
2016-04-30 0.19

*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.
  • Metcash is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Metcash'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Metcash has a total score of 2/6, 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.

MG9 Past Performance

  How has Metcash 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 Metcash's growth in the last year to its industry (Consumer Retailing).
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.
  • Metcash does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Metcash's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Metcash's 1-year growth to the Europe Consumer Retailing industry average as it is not currently profitable.
Earnings and Revenue History
Metcash'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 Metcash Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MG9 Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 14,598.10 -146.70 1,053.50
2018-07-31 14,530.90 -148.10 1,053.05
2018-04-30 14,463.70 -149.50 1,052.60
2018-01-31 13,538.75 20.30 1,073.15
2017-10-31 13,617.40 190.00 1,103.90
2017-07-31 13,869.65 180.95 1,072.85
2017-04-30 14,121.90 171.90 1,041.80
2016-10-31 13,355.80 166.30 959.80
2016-07-31 13,379.15 172.30 972.40
2016-04-30 13,402.50 178.30 985.00
2015-10-31 13,460.50 -409.20 985.10
2015-07-31 13,415.15 -406.40 987.35
2015-04-30 13,369.80 -403.60 989.60
2014-10-31 13,328.60 164.90 996.20
2014-07-31 13,360.65 172.30 995.85
2014-04-30 13,392.70 179.70 995.50
2013-10-31 13,220.40 257.20 935.00
2013-07-31 13,098.50 261.55 910.95
2013-04-30 12,976.60 265.90 886.90
2012-10-31 12,824.90 135.30 846.50
2012-07-31 12,718.60 126.25 836.40
2012-04-30 12,612.30 117.20 826.30

*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.
  • It is difficult to establish if Metcash has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Metcash has efficiently used its assets last year compared to the Europe Consumer Retailing industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Metcash 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 Metcash'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 Consumer Retailing 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.
Metcash has a total score of 0/6, 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.

MG9 Health

 How is Metcash'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 Metcash's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Metcash is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Metcash's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Metcash'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 12.9x 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 Metcash Company Filings, last reported 5 months ago.

DB:MG9 Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 1,212.80 197.60 112.80
2018-07-31 1,212.80 197.60 112.80
2018-04-30 1,388.60 129.00 161.20
2018-01-31 1,388.60 129.00 161.20
2017-10-31 1,688.00 130.20 132.60
2017-07-31 1,688.00 130.20 132.60
2017-04-30 1,637.40 190.10 96.50
2016-10-31 1,538.40 261.80 46.20
2016-07-31 1,538.40 261.80 46.20
2016-04-30 1,369.10 319.70 26.40
2015-10-31 1,275.20 487.50 30.80
2015-07-31 1,275.20 487.50 30.80
2015-04-30 1,156.60 864.90 83.30
2014-10-31 1,654.70 870.90 44.90
2014-07-31 1,654.70 870.90 44.90
2014-04-30 1,594.00 840.90 24.70
2013-10-31 1,583.50 866.50 19.70
2013-07-31 1,583.50 866.50 19.70
2013-04-30 1,624.20 811.70 50.30
2012-10-31 1,613.10 757.20 42.00
2012-07-31 1,613.10 757.20 42.00
2012-04-30 1,335.10 996.70 51.50
  • Metcash's level of debt (16.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (54.7% vs 16.3% today).
  • Debt is well covered by operating cash flow (125.3%, greater than 20% of total debt).
  • Metcash is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Metcash'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. Metcash has a total score of 5/6, 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.

MG9 Dividends

 What is Metcash'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
4.93%
Current annual income from Metcash dividends. Estimated to be 5.02% next year.
If you bought €2,000 of Metcash shares you are expected to receive €99 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?
  • Metcash's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Metcash's dividend is above the markets top 25% of dividend payers in Germany (3.7%).
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
DB:MG9 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 11 Analyst Estimates (S&P Global) See Below
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MG9 Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-04-30 0.14 1.00
2021-04-30 0.14 10.00
2020-04-30 0.13 12.00
2019-04-30 0.14 12.00
DB:MG9 Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2018-12-03 0.135 5.352
2018-06-25 0.140 5.052
2017-12-04 0.060 1.906
2017-06-26 0.045 1.727
2016-06-20 0.000 0.000
2015-11-30 0.000 0.000
2015-06-15 0.000 0.000
2014-06-23 0.185 9.819
2013-06-24 0.280 8.979
2012-06-27 0.280 7.627
2011-07-29 0.270 6.647
2011-06-07 0.270 6.562
2010-11-30 0.260 6.372
2010-06-01 0.260 5.982
2009-12-01 0.250 5.965
2009-06-01 0.240 5.474
2009-04-20 0.220 5.364

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Metcash's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess Metcash's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Metcash afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Metcash has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MG9 Management

 What is the CEO of Metcash'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
Jeff Adams
COMPENSATION A$2,462,398
TENURE AS CEO 1.3 years
CEO Bio

Mr. Jeffery K. Adams, also known as Jeff, BA (Business Administration and Management) has been Group Chief Executive Officer and Executive Director of Metcash Limited since December 5, 2017. Mr. Adams has over 40 years of international retail experience across domestic and international businesses in the United States, Europe, Asia, Central America, and the Middle East. Mr. Adams joined Metcash Limited September 4, 2017. Mr. Adams served as the Chief Executive Officer of Operations for Tesco Kipa (Turkey). at Tesco PLC since May 04, 2012. Mr. Adams served as an Executive Vice President of Operations at Fresh & Easy Neighborhood Market Inc. since March 2008. He served as Chief Retail Officer at Fresh & Easy since 2008. Mr. Adams has overseen operations at Fresh & Easy since 2008. Before coming to Fresh & Easy, he served as the Chief Operating Officer of Tesco Lotus since 2004. He was instrumental in starting Lotus in 1993. He moved to the U.K. in 2002. Before moving to Fresh & Easy, he served as the Chief Executive Officer of Tesco Lotus (Thailand) since 2004.

CEO Compensation
  • Insufficient data for Jeff to compare compensation growth.
  • Jeff's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Metcash management team in years:

4
Average Tenure
  • The tenure for the Metcash management team is about average.
Management Team

Jeff Adams

TITLE
CEO & Executive Director
COMPENSATION
A$2M
TENURE
1.3 yrs

Brad Soller

TITLE
Chief Financial Officer
COMPENSATION
A$2M
TENURE
4.2 yrs

Mark Laidlaw

TITLE
Chief Executive Officer of Independent Hardware Group
COMPENSATION
A$2M
TENURE
8.9 yrs

Scott Marshall

TITLE
Chief Executive of Supermarkets & Convenience
COMPENSATION
A$2M
TENURE
5.3 yrs

Edwin Gear

TITLE
Chief Information Officer
TENURE
4 yrs

Steve Ashe

TITLE
Head of Corporate Affairs & Investor Relations

Julie Hutton

TITLE
Company Secretary & GM of Legal
TENURE
2.8 yrs

Penny Coates

TITLE
Chief People & Culture Officer
TENURE
3.6 yrs

Kerrie Holmes

TITLE
Head of Legal - Liquor & Assistant Company Secretary

Haiyun Chen

TITLE
Head of China Export Development
Board of Directors Tenure

Average tenure and age of the Metcash board of directors in years:

3.5
Average Tenure
54.5
Average Age
  • The tenure for the Metcash board of directors is about average.
Board of Directors

Rob Murray

TITLE
Non-Executive Chairman
COMPENSATION
A$410K
AGE
53
TENURE
3.7 yrs

Jeff Adams

TITLE
CEO & Executive Director
COMPENSATION
A$2M
TENURE
1.3 yrs

Fiona Balfour

TITLE
Non-Executive Director
COMPENSATION
A$172K
TENURE
8.4 yrs

Tonianne Dwyer

TITLE
Non-Executive Director
COMPENSATION
A$154K
AGE
56
TENURE
4.8 yrs

Helen Elizabeth Nash

TITLE
Non-Executive Director
COMPENSATION
A$154K
AGE
46
TENURE
3.5 yrs

Murray Jordan

TITLE
Non-Executive Director
COMPENSATION
A$169K
TENURE
3.2 yrs

Anne Brennan

TITLE
Non-Executive Director
COMPENSATION
A$16K
AGE
58
TENURE
1.1 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 (€) Value (€)
07. Mar 19 Sell Pendal Group Limited Company 30. Jan 19 05. Mar 19 -13,329,152 €1.71 €-22,520,889
07. Mar 19 Buy Pendal Group Limited Company 30. Jan 19 05. Mar 19 433,740 €1.60 €692,012
07. Mar 19 Buy Lazard Asset Management LLC Company 06. Nov 18 05. Mar 19 37,128,956 €1.61 €59,747,355
28. Feb 19 Sell The Vanguard Group, Inc. Company 24. Dec 18 07. Feb 19 -345,410 €1.63 €-554,467
28. Feb 19 Buy The Vanguard Group, Inc. Company 27. Dec 18 25. Feb 19 517,294 €1.67 €853,074
29. Jan 19 Sell Pendal Group Limited Company 26. Sep 18 24. Jan 19 -14,950,573 €1.71 €-25,594,207
29. Jan 19 Buy Pendal Group Limited Company 26. Sep 18 02. Jan 19 4,865,663 €1.79 €8,672,935
05. Feb 19 Sell UBS Asset Management Company 04. Jan 19 01. Feb 19 -12,489,183 €1.54 €-19,208,263
05. Feb 19 Buy UBS Asset Management Company 04. Jan 19 01. Feb 19 14,348,687 €1.53 €21,986,927
31. Jan 19 Sell Vinva Investment Management Company 09. Nov 18 29. Jan 19 -2,657,164 €1.56 €-4,149,274
31. Jan 19 Buy Vinva Investment Management Company 09. Nov 18 29. Jan 19 926,381 €1.54 €1,427,792
07. Jan 19 Sell UBS Asset Management Company 06. Dec 18 03. Jan 19 -15,140,315 €1.46 €-22,065,532
07. Jan 19 Buy UBS Asset Management Company 06. Dec 18 03. Jan 19 15,445,292 €1.46 €22,517,765
26. Dec 18 Sell The Vanguard Group, Inc. Company 09. Nov 18 21. Dec 18 -1,953,475 €1.81 €-3,358,474
26. Dec 18 Buy The Vanguard Group, Inc. Company 29. Oct 18 21. Dec 18 1,660,719 €1.85 €3,064,398
06. Dec 18 Sell Orbis Investment Management Limited Company 26. Jul 18 04. Dec 18 -4,001,810 €5.14 €-12,438,826
06. Dec 18 Buy Orbis Investment Management Limited Company 26. Jul 18 04. Dec 18 5,615,276 €3.23 €9,609,873
05. Dec 18 Sell UBS Asset Management Company 15. Oct 18 03. Dec 18 -33,445,575 €1.81 €-60,635,421
05. Dec 18 Buy UBS Asset Management Company 15. Oct 18 03. Dec 18 29,617,363 €1.81 €53,740,733
07. Dec 18 Sell UBS Asset Management Company 04. Dec 18 05. Dec 18 -5,808,350 €1.56 €-9,067,930
07. Dec 18 Buy UBS Asset Management Company 04. Dec 18 05. Dec 18 4,691,099 €1.56 €7,328,465
12. Nov 18 Sell Vinva Investment Management Company 08. Jul 18 08. Nov 18 -11,763,385 €1.67 €-19,673,812
12. Nov 18 Buy Vinva Investment Management Company 08. Jul 18 08. Nov 18 17,017,854 €1.83 €31,223,049
31. Oct 18 Sell The Vanguard Group, Inc. Company 28. Sep 18 23. Oct 18 -95,847 €1.85 €-177,158
31. Oct 18 Buy The Vanguard Group, Inc. Company 26. Sep 18 26. Oct 18 856,269 €1.88 €1,606,696
16. Oct 18 Sell UBS Asset Management Company 29. Jun 18 12. Oct 18 -65,911,173 €1.70 €-112,204,511
16. Oct 18 Buy UBS Asset Management Company 29. Jun 18 12. Oct 18 56,120,084 €1.70 €95,396,213
27. Sep 18 Sell Pendal Group Limited Company 28. Aug 18 25. Sep 18 -10,368,557 €1.71 €-17,687,867
27. Sep 18 Buy Pendal Group Limited Company 02. Aug 18 17. Sep 18 8,842,151 €1.76 €14,965,135
25. Sep 18 Sell The Vanguard Group, Inc. Company 24. Aug 18 21. Sep 18 -1,447,880 €1.81 €-2,619,796
25. Sep 18 Buy The Vanguard Group, Inc. Company 17. Aug 18 21. Sep 18 1,912,576 €1.83 €3,500,303
20. Sep 18 Buy Anne Brennan Individual 17. Sep 18 19. Sep 18 21,000 €1.84 €36,830
04. Sep 18 Sell Dimensional Fund Advisors L.P. Company 19. Jan 18 15. Jun 18 -2,933,691 €2.13 €-5,216,556
04. Sep 18 Buy Dimensional Fund Advisors L.P. Company 20. Dec 17 04. Sep 18 8,280,681 €1.97 €14,984,833
19. Aug 18 Sell The Vanguard Group, Inc. Company 18. Jun 18 15. Aug 18 -2,095,029 €1.79 €-3,740,786
19. Aug 18 Buy The Vanguard Group, Inc. Company 25. Jun 18 15. Aug 18 861,444 €1.82 €1,555,943
09. Aug 18 Sell Macquarie Investment Management Australia Limited Company 26. Jul 18 06. Aug 18 -306,888 €1.70 €0
09. Aug 18 Buy Macquarie Investment Management Australia Limited Company 26. Jul 18 01. Aug 18 654,976 €1.68 €0
09. Aug 18 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 01. Aug 18 03. Aug 18 -3,374 €1.68 €0
09. Aug 18 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 01. Aug 18 03. Aug 18 3,374 €1.68 €0
09. Aug 18 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 26. Jul 18 06. Aug 18 -109,475 €1.69 €0
09. Aug 18 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 26. Jul 18 06. Aug 18 326,994 €1.70 €0
09. Aug 18 Sell MQ Specialist Investment Management Ltd. Company 26. Jul 18 31. Jul 18 -20,233 €1.67 €0
09. Aug 18 Buy MQ Specialist Investment Management Ltd. Company 06. Aug 18 06. Aug 18 3,753 €1.67 €6,283
09. Aug 18 Sell Macquarie Investment Management Limited Company 26. Jul 18 06. Aug 18 -154,199 €1.68 €0
09. Aug 18 Buy Macquarie Investment Management Limited Company 06. Aug 18 06. Aug 18 840 €1.67 €1,406
03. Aug 18 Sell Pendal Group Limited Company 24. Jun 18 31. Jul 18 -1,752,077 €1.70 €-2,878,964
03. Aug 18 Buy Pendal Group Limited Company 07. Jun 18 01. Aug 18 11,494,936 €1.69 €19,336,837
30. Jul 18 Sell Macquarie Investment Management Australia Limited Company 26. Mar 18 25. Jul 18 -6,342,795 €2.35 €0
30. Jul 18 Buy Macquarie Investment Management Australia Limited Company 26. Mar 18 24. Jul 18 3,073,346 €2.33 €0
30. Jul 18 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 27. Mar 18 25. Jul 18 -3,611,668 €2.34 €0
30. Jul 18 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 27. Mar 18 25. Jul 18 3,611,668 €2.34 €0
30. Jul 18 Sell Macquarie Group, Ltd., Banking & Securities Investments Company 26. Mar 18 25. Jul 18 -19,791,871 €2.36 €0
30. Jul 18 Buy Macquarie Group, Ltd., Banking & Securities Investments Company 26. Mar 18 25. Jul 18 9,794,573 €2.36 €0
30. Jul 18 Sell MQ Specialist Investment Management Ltd. Company 03. Apr 18 25. Jul 18 -75,090 €2.29 €0
30. Jul 18 Buy MQ Specialist Investment Management Ltd. Company 26. Mar 18 12. Jun 18 31,669 €2.27 €0
30. Jul 18 Sell Macquarie Investment Management Limited Company 26. Mar 18 25. Jul 18 -1,379,246 €2.29 €0
30. Jul 18 Buy Macquarie Investment Management Limited Company 26. Mar 18 12. Jun 18 419,334 €2.27 €0
27. Jul 18 Sell Orbis Investment Management Limited Company 12. Dec 17 24. Jul 18 -368,773 €4.40 €-1,275,063
27. Jul 18 Buy Orbis Investment Management Limited Company 12. Dec 17 25. Jul 18 10,439,667 €2.05 €14,595,934
03. Jul 18 Buy Tonianne Dwyer Individual 29. Jun 18 29. Jun 18 20,000 €1.65 €33,064
02. Jul 18 Sell UBS Asset Management Company 26. Jun 18 28. Jun 18 -5,697,100 €1.69 €-9,620,066
02. Jul 18 Buy UBS Asset Management Company 26. Jun 18 28. Jun 18 6,466,764 €1.69 €10,932,604
01. Jul 18 Buy Murray Jordan Individual 29. Jun 18 29. Jun 18 19,610 €1.64 €32,074
27. Jun 18 Sell UBS Asset Management Company 10. May 18 25. Jun 18 -35,082,206 €1.90 €-66,636,090
27. Jun 18 Buy UBS Asset Management Company 10. May 18 25. Jun 18 43,974,205 €1.89 €82,984,718
19. Jun 18 Sell The Vanguard Group, Inc. Company 27. Sep 17 15. Jun 18 -5,228,627 €2.33 €-11,749,734
19. Jun 18 Buy The Vanguard Group, Inc. Company 22. Sep 17 14. Jun 18 4,775,078 €2.35 €11,170,882
08. Jun 18 Sell Pendal Group Limited Company 02. Jun 17 01. Jun 18 -32,029,228 €2.08 €-65,050,822
08. Jun 18 Buy Pendal Group Limited Company 24. May 17 06. Jun 18 48,543,575 €1.91 €91,444,080
11. May 18 Sell UBS Asset Management Company 03. May 18 09. May 18 -4,109,239 €2.21 €-9,078,241
11. May 18 Buy UBS Asset Management Company 03. May 18 09. May 18 4,387,116 €2.21 €9,685,489
01. May 18 Sell UBS Asset Management Company 26. Apr 18 26. Apr 18 -9,206,023 €2.01 €-18,461,963
01. May 18 Buy UBS Asset Management Company 26. Mar 18 27. Apr 18 11,113,100 €2.02 €22,424,000
X
Management checks
We assess Metcash'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. Metcash 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.

MG9 News

Simply Wall St News

MG9 Company Info

Description

Metcash Limited operates as a wholesale distribution and marketing company in Australia and New Zealand. It operates through Food & Grocery, Liquor, and Hardware segments. The Food & Grocery segment distributes a range of products and services to independent supermarket and convenience retail outlets. The Liquor segment engages in the distribution of liquor products to retail outlets and hotels. The Hardware segment distributes hardware products to independent retail outlets; and operates company owned retail stores. The company serves independent retailers in the food, liquor, and hardware sectors. Metcash Limited was founded in 1920 and is based in Macquarie Park, Australia.

Details
Name: Metcash Limited
MG9
Exchange: DB
Founded: 1920
A$1,583,842,435
909,256,748
Website: http://www.metcash.com
Address: Metcash Limited
1 Thomas Holt Drive,
Macquarie Park,
New South Wales, 2113,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX MTS Ordinary Shares Australian Securities Exchange AU AUD 17. Jun 1994
OTCPK MCSH.F Ordinary Shares Pink Sheets LLC US USD 17. Jun 1994
DB MG9 Ordinary Shares Deutsche Boerse AG DE EUR 17. Jun 1994
CHIA MTS Ordinary Shares Chi-X Australia AU AUD 17. Jun 1994
OTCPK MHTL.Y SPONSORED ADR Pink Sheets LLC US USD 18. Mar 2005
Number of employees
Current staff
Staff numbers
6,000
Metcash employees.
Industry
Food Distributors
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:19
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2018/12/02
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/04/30


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.