DB:WVDA

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Executive Summary

Marston's PLC operates managed, franchised, tenanted, and leased pubs, bars, restaurants, and accommodations in the United Kingdom and internationally.


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has Marston's's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: WVDA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

49.3%

WVDA

8.1%

DE Hospitality

2.2%

DE Market


1 Year Return

-53.3%

WVDA

-43.8%

DE Hospitality

-3.9%

DE Market

Return vs Industry: WVDA underperformed the German Hospitality industry which returned -44.1% over the past year.

Return vs Market: WVDA underperformed the German Market which returned -4.6% over the past year.


Shareholder returns

WVDAIndustryMarket
7 Day49.3%8.1%2.2%
30 Day57.2%7.6%8.0%
90 Day-53.0%-46.7%-9.6%
1 Year-51.5%-53.3%-41.8%-43.8%-2.3%-3.9%
3 Year-56.7%-63.9%-58.1%-63.7%-7.6%-14.8%
5 Year-67.9%-75.8%-58.3%-67.0%-0.3%-12.9%

Price Volatility Vs. Market

How volatile is Marston's's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Marston's undervalued compared to its fair value and its price relative to the market?

31.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: WVDA (€0.56) is trading below our estimate of fair value (€0.82)

Significantly Below Fair Value: WVDA is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: WVDA is unprofitable, so we can't compare its PE Ratio to the Hospitality industry average.

PE vs Market: WVDA is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate WVDA's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: WVDA is good value based on its PB Ratio (0.5x) compared to the DE Hospitality industry average (1.7x).


Next Steps

Future Growth

How is Marston's forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

55.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: WVDA is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.2%).

Earnings vs Market: WVDA is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: WVDA's is expected to become profitable in the next 3 years.

Revenue vs Market: WVDA's revenue is expected to decline over the next 3 years (-0.8% per year).

High Growth Revenue: WVDA's revenue is forecast to decline over the next 3 years (-0.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: WVDA's Return on Equity is forecast to be low in 3 years time (9.9%).


Next Steps

Past Performance

How has Marston's performed over the past 5 years?

21.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WVDA is currently unprofitable.

Growing Profit Margin: WVDA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: WVDA is unprofitable, but has reduced losses over the past 5 years at a rate of 21.6% per year.

Accelerating Growth: Unable to compare WVDA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: WVDA is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (-36.2%).


Return on Equity

High ROE: WVDA has a negative Return on Equity (-2.22%), as it is currently unprofitable.


Next Steps

Financial Health

How is Marston's's financial position?


Financial Position Analysis

Short Term Liabilities: WVDA's short term assets (£175.8M) do not cover its short term liabilities (£491.7M).

Long Term Liabilities: WVDA's short term assets (£175.8M) do not cover its long term liabilities (£1.6B).


Debt to Equity History and Analysis

Debt Level: WVDA's debt to equity ratio (162.2%) is considered high.

Reducing Debt: WVDA's debt to equity ratio has reduced from 197.4% to 162.2% over the past 5 years.

Debt Coverage: WVDA's debt is not well covered by operating cash flow (14.9%).

Interest Coverage: WVDA is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Marston's's current dividend yield, its reliability and sustainability?

11.36%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: WVDA's dividend (11.36%) is higher than the bottom 25% of dividend payers in the German market (1.36%).

High Dividend: WVDA's dividend (11.36%) is in the top 25% of dividend payers in the German market (4.18%)


Stability and Growth of Payments

Stable Dividend: WVDA's dividends per share have been stable in the past 10 years.

Growing Dividend: WVDA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: WVDA is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: WVDA's dividends in 3 years are forecast to be well covered by earnings (37.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.1yrs

Average management tenure


CEO

Ralph Findlay (58yo)

19.33yrs

Tenure

UK£722,432

Compensation

Mr. Ralph Graham Findlay, FCA, serves as Chief Executive Officer at Marston's Plc since 2001. Mr. Findlay serves as the Managing Director at Marston's Pub Company. He served as a Finance Director at Marsto ...


CEO Compensation Analysis

Compensation vs Market: Ralph's total compensation ($USD880.09K) is about average for companies of similar size in the German market ($USD1.08M).

Compensation vs Earnings: Ralph's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ralph Findlay
CEO & Executive Director19.33yrsUK£722.43k0.20% £952.5k
Andrew Andrea
Chief Financial & Corporate Development Officer and Executive Director11.17yrsUK£468.06k0.053% £245.6k
Anne-Marie Brennan
Group Secretary5.58yrsno datano data
Richard Westwood
Managing Director of Beer & Pub Company6.67yrsno datano data
Andrew Carlill
Operations Director - Taverns & Leased Partnersno datano datano data

6.1yrs

Average Tenure

57yo

Average Age

Experienced Management: WVDA's management team is seasoned and experienced (6.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ralph Findlay
CEO & Executive Director19.33yrsUK£722.43k0.20% £952.5k
Andrew Andrea
Chief Financial & Corporate Development Officer and Executive Director11.17yrsUK£468.06k0.053% £245.6k
E. Matthew Roberts
Independent Non-Executive Director3.17yrsUK£61.50k0.0040% £18.4k
William Rucker
Independent Chairman1.58yrsUK£200.00k0.016% £73.8k
Octavia Morley
Independent Non-Executive Director0.33yrno datano data
Carolyn Bradley
Senior Independent Director3.33yrsUK£61.50k0.0040% £18.4k
Bridget Lea
Independent Non-Executive Director0.67yrUK£4.50kno data

3.2yrs

Average Tenure

55yo

Average Age

Experienced Board: WVDA's board of directors are considered experienced (3.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.


Top Shareholders

Company Information

Marston's PLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Marston's PLC
  • Ticker: WVDA
  • Exchange: DB
  • Founded: 1834
  • Industry: Restaurants
  • Sector: Consumer Services
  • Market Cap: UK£417.549m
  • Listing Market Cap: UK£466.961m
  • Shares outstanding: 632.65m
  • Website: https://www.marstons.co.uk

Number of Employees


Location

  • Marston's PLC
  • Marston's House
  • Brewery Road
  • Wolverhampton
  • West Midlands
  • WV1 4JT
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MARZ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
MARSLSE (London Stock Exchange)YesOrdinary SharesGBGBPJan 1992
WVDADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
MARSLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJan 1992
MRTP.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDDec 2008

Biography

Marston's PLC operates managed, franchised, tenanted, and leased pubs, bars, restaurants, and accommodations in the United Kingdom and internationally. The company operates through three segments: Destination and Premium, Taverns, and Brewing. It provides premium cask, kegs, and bottled and canned beers through its six breweries under the Pedigree, Hobgoblin, Wainwright, and Shipyard brands, as well as under the licensed brands, including Estrella Damm. The company distributes its beers through 12 depots and distribution centers to estates, supermarkets, other pubs, and leisure businesses. It operates through approximately 1,400 bars, pubs and lodges, breweries, depots, and offices; approximately 1,700 rooms; and 30 stand-alone lodges. The company also exports its beers to approximately 61 countries. It is also involved in the property management; telecommunications; and insurance businesses. The company was formerly known as The Wolverhampton & Dudley Breweries PLC and changed its name to Marston's PLC in January 2007. Marston's PLC was founded in 1834 and is headquartered in Wolverhampton, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/25 21:33
End of Day Share Price2020/05/25 00:00
Earnings2019/09/28
Annual Earnings2019/09/28


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.