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Standard Diversified

MUN:SD61
Snowflake Description

Moderate growth potential with worrying balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SD61
MUN
$318M
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

Standard Diversified Inc., through its subsidiaries, engages in the insurance, other tobacco products, and outdoor advertising activities in the United States. The last earnings update was 75 days ago. More info.


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SD61 Share Price and Events
7 Day Returns
0.4%
MUN:SD61
2.9%
Global Tobacco
-0.7%
DE Market
1 Year Returns
30.2%
MUN:SD61
-15.5%
Global Tobacco
-7.6%
DE Market
SD61 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Standard Diversified (SD61) 0.4% 2.3% 16.3% 30.2% - -
Global Tobacco 2.9% 4.2% -5.9% -15.5% -28% 1.7%
DE Market -0.7% -0.9% -3.8% -7.6% 8.2% 11.1%
1 Year Return vs Industry and Market
  • SD61 outperformed the Tobacco industry which returned -15.5% over the past year.
  • SD61 outperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
SD61
Industry
5yr Volatility vs Market

Value

 Is Standard Diversified 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 Standard Diversified 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 Standard Diversified.

MUN:SD61 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. 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 MUN:SD61
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Tobacco Unlevered Beta Simply Wall St/ S&P Global 0.35
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.345 (1 + (1- 21%) (76.94%))
0.702
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 MUN:SD61 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Standard Diversified 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.

MUN:SD61 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5%)
2020 2.68 Est @ -15.52% 2.56
2021 2.39 Est @ -10.79% 2.17
2022 2.21 Est @ -7.49% 1.91
2023 2.10 Est @ -5.17% 1.73
2024 2.02 Est @ -3.55% 1.59
2025 1.98 Est @ -2.42% 1.47
2026 1.94 Est @ -1.62% 1.38
2027 1.92 Est @ -1.07% 1.30
2028 1.91 Est @ -0.68% 1.23
2029 1.90 Est @ -0.41% 1.17
Present value of next 10 years cash flows $16.51
MUN:SD61 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1.90 × (1 + 0.23%) ÷ (5% – 0.23%)
$39.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $39.98 ÷ (1 + 5%)10
$24.56
MUN:SD61 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $16.51 + $24.56
$41.07
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $41.07 / 16.81
$2.44
MUN:SD61 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in MUN:SD61 represents 0.8811x of AMEX:SDI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.8811x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 2.44 x 0.8811
€2.15
Value per share (EUR) From above. €2.15
Current discount Discount to share price of €18.04
= -1 x (€18.04 - €2.15) / €2.15
-738.1%

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

  • The current share price of Standard Diversified is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Standard Diversified's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Standard Diversified's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MUN:SD61 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.10
AMEX:SDI Share Price ** AMEX (2019-07-19) in USD $20.47
Global Tobacco Industry PE Ratio Median Figure of 12 Publicly-Listed Tobacco Companies 13.88x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.75x

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

** Primary Listing of Standard Diversified.

MUN:SD61 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:SDI Share Price ÷ EPS (both in USD)

= 20.47 ÷ -0.10

-204.01x

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

  • Standard Diversified is loss making, we can't compare its value to the Global Tobacco industry average.
  • Standard Diversified is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Standard Diversified's expected growth come at a high price?
Raw Data
MUN:SD61 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -204.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
24.2%per year
Global Tobacco Industry PEG Ratio Median Figure of 7 Publicly-Listed Tobacco Companies 1.61x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*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 Standard Diversified, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Standard Diversified's assets?
Raw Data
MUN:SD61 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.01
AMEX:SDI Share Price * AMEX (2019-07-19) in USD $20.47
Global Tobacco Industry PB Ratio Median Figure of 18 Publicly-Listed Tobacco Companies 1.85x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.71x
MUN:SD61 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:SDI Share Price ÷ Book Value per Share (both in USD)

= 20.47 ÷ 3.01

6.81x

* Primary Listing of Standard Diversified.

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

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

Future Performance

 How is Standard Diversified expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Standard Diversified, future earnings growth has been estimated based on fundamentals.
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
24.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Standard Diversified expected to grow at an attractive rate?
  • Standard Diversified's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Standard Diversified's earnings growth is expected to exceed the Germany market average.
  • Unable to compare Standard Diversified's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MUN:SD61 Future Growth Rates Data Sources
Data Point Source Value (per year)
MUN:SD61 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 24.2%
Global Tobacco Industry Earnings Growth Rate Market Cap Weighted Average 8.4%
Global Tobacco Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*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
MUN:SD61 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MUN:SD61 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 384 7 -2
2018-12-31 366 0 2
2018-09-30 337 -1 6
2018-06-30 318 19 8
2018-03-31 301 32 9
2017-12-31 286 25 10
2017-09-30 266 26 27
2017-06-30 244 23 31
2017-03-31 222 11 27
2016-12-31 206 9 27

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Standard Diversified's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Standard Diversified is high growth as no revenue estimate data is available.
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
MUN:SD61 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Standard Diversified Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:SD61 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.10
2018-12-31 0.14
2018-09-30 0.38
2018-06-30 0.46
2018-03-31 0.49
2017-12-31 0.49
2017-09-30 1.09
2017-06-30 1.08
2017-03-31 1.01
2016-12-31 1.10

*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.
  • Unable to establish if Standard Diversified will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Standard Diversified'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 Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global 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.
Standard Diversified has a total score of 3/6, 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.

Past Performance

  How has Standard Diversified 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 Standard Diversified's growth in the last year to its industry (Tobacco).
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.
  • Standard Diversified does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Standard Diversified's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Standard Diversified's 1-year growth to the Global Tobacco industry average as it is not currently profitable.
Earnings and Revenue History
Standard Diversified'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 Standard Diversified Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:SD61 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 383.73 -1.68 90.20
2018-12-31 365.79 2.38 84.61
2018-09-30 336.51 6.26 90.03 1.90
2018-06-30 318.26 7.65 85.25 1.90
2018-03-31 301.08 9.02 82.46
2017-12-31 285.80 10.38 75.95
2017-09-30 266.05 26.62 69.94 1.80
2017-06-30 243.66 30.66 63.00 1.80
2017-03-31 222.29 27.27 57.97 1.80
2016-12-31 206.23 26.91 54.46
2015-12-31 197.26 9.15 50.39 1.40

*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.
  • Standard Diversified has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Standard Diversified used its assets less efficiently than the Global Tobacco industry average last year based on Return on Assets.
  • It is difficult to establish if Standard Diversified 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 Standard Diversified'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 Tobacco 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.
Standard Diversified 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.

Health

 How is Standard Diversified'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 Standard Diversified's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Standard Diversified is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Standard Diversified's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Standard Diversified'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 not covered by short term assets, assets are 0.7x 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 Standard Diversified Company Filings, last reported 3 months ago.

MUN:SD61 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 94.72 230.90 48.03
2018-12-31 94.73 244.05 54.03
2018-09-30 93.64 250.13 53.23
2018-06-30 80.82 228.59 50.12
2018-03-31 71.55 216.17 54.31
2017-12-31 68.44 202.04 18.22
2017-09-30 65.27 210.85 20.49
2017-06-30 59.50 221.59 20.50
2017-03-31 34.06 218.23 2.87
2016-12-31 34.06 218.23 2.87
2015-12-31
  • Standard Diversified's level of debt (243.8%) compared to net worth is high (greater than 40%).
  • Unable to establish if Standard Diversified's debt level has increased without past 5-year debt data.
  • Debt is not well covered by operating cash flow (2.9%, less than 20% of total debt).
  • Standard Diversified is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Standard Diversified'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. Standard Diversified has a total score of 1/6, 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.

Dividends

 What is Standard Diversified'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
0%
Current annual income from Standard Diversified dividends.
If you bought €2,000 of Standard Diversified shares you are expected to receive €0 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?
  • Unable to evaluate Standard Diversified's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Standard Diversified's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
MUN:SD61 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 0 Analyst Estimates (S&P Global) See Below
Global Tobacco Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 5.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
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.

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

  • Unable to perform a dividend volatility check as Standard Diversified has not reported any payouts.
  • Unable to verify if Standard Diversified's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Standard Diversified's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Standard Diversified has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Standard Diversified'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 Standard Diversified afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Standard Diversified has a total score of 0/6, see the detailed checks below.


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

Management

 What is the CEO of Standard Diversified'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
Greg Baxter
COMPENSATION $96,405
AGE 66
TENURE AS CEO 0.3 years
CEO Bio

Mr. Gregory H. A. Baxter, also known as Greg, serves as Executive Chairman of the Board at Standard Diversified Inc. since June 2017 and has been its Interim Chief Executive Officer since March 29, 2019. He served as Executive Chairman of the Board at Standard Diversified Opportunities Inc. and served as its Secretary. Mr. Baxter served as a Managing Director and Head of Hedge Fund Sales & Marketing at Diaz & Altshul Capital Management, LLC from September 2003 to May 2005, where his primary focus was bringing its investment products to prospective corporate and institutional clients. He has been an independent corporate finance consultant primarily for middle-market corporations and closely held businesses since 2005. He served as Executive Chairman of the Board and Secretary at Standard Diversified Opportunities Inc. (also known as Special Diversified Opportunities Inc.) from June 09, 2017. Mr. Baxter served as a Managing Director and Head of Generalist / Cross-Border Mergers & Acquisitions, at SG Cowen Securities Corporation, from June 2000 to May 2002. He re-established the cross-border effort and worked globally in industries such as food, retail, consumer products, transportation and oil and gas. Prior to SG Cowen, he worked at Rothschild Inc. from 1994 to 2000, where he specialized in advising on industrial/engineering companies, including automotive, domestic and cross border mergers, acquisitions and divestitures. He was also a founding member of SW Capital, an M&A boutique that specialized in middle-market transactions for Fortune 500 companies. He served as a Vice President of Irving Trust Company’s Corporate Financial Counseling Department, providing M&A and other corporate finance advice to the bank’s clients. He served as the Chairman at Standard Diversified Opportunities Inc. He has been a Director at Standard Diversified Inc. since October 2015. He has been an Independent Director of North Atlantic Trading Company, Inc., a subsidiary of North Atlantic Holding Co. Inc. since April 18, 2006 and Turning Point Brands, Inc (formerly North Atlantic Holding Co. Inc.) since April 18, 2006. He served as Non-Employee Director at Standard Diversified Opportunities Inc. from October 19, 2015. Mr. Baxter holds a Bachelor of Arts from the University of Victoria in Canada and a Master of Business Administration from the Ivey Business School in London.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Greg's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Standard Diversified management team in years:

1.5
Average Tenure
49
Average Age
  • The average tenure for the Standard Diversified management team is less than 2 years, this suggests a new team.
Management Team

Greg Baxter

TITLE
Executive Chairman of the Board & Interim CEO
COMPENSATION
$96K
AGE
66
TENURE
0.3 yrs

Edward Sweeney

TITLE
Interim Chief Financial Officer
AGE
49
TENURE
2.2 yrs

Brad Tobin

TITLE
General Counsel & Secretary
COMPENSATION
$548K
AGE
36
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the Standard Diversified board of directors in years:

1.9
Average Tenure
66
Average Age
  • The average tenure for the Standard Diversified board of directors is less than 3 years, this suggests a new board.
Board of Directors

Greg Baxter

TITLE
Executive Chairman of the Board & Interim CEO
COMPENSATION
$96K
AGE
66
TENURE
2.1 yrs

Dave Wurzer

TITLE
Director
COMPENSATION
$81K
AGE
61
TENURE
9.4 yrs

Thomas Helms

TITLE
Director
COMPENSATION
$76K
AGE
79
TENURE
1.9 yrs

David Glazek

TITLE
Director
AGE
41
TENURE
1.9 yrs

Arne Zimmerman

TITLE
Director
COMPENSATION
$59K
AGE
81
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • Standard Diversified individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. May 19 Sell Standard General L.P. Company 09. May 19 09. May 19 -64,282 €18.26 €-1,173,925
09. May 19 Sell Thomas Helms Individual 11. Mar 19 06. May 19 -43,500 €18.31 €-707,033
08. May 19 Buy Standard General L.P. Company 06. May 19 06. May 19 23,500 €18.31 €430,203
13. Mar 19 Buy Standard General L.P. Company 11. Mar 19 11. Mar 19 20,000 €13.80 €276,024
18. Dec 18 Buy Gregory H. Baxter Individual 14. Dec 18 14. Dec 18 100 €11.62 €1,162
07. Sep 18 Sell Standard General L.P. Company 05. Sep 18 05. Sep 18 -345,543 €13.42 €-4,635,783
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Management checks
We assess Standard Diversified'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. Standard Diversified 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.

News

Simply Wall St News

Company Info

Description

Standard Diversified Inc., through its subsidiaries, engages in the insurance, other tobacco products, and outdoor advertising activities in the United States. It operates through five segments: Smokeless Products, Smoking Products, NewGen Products, Insurance, and Other. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products. The Smoking Products segment imports and markets cigarette papers, tubes, and related products; imports and markets finished cigars, make-your-own cigar tobaccos, and cigar wraps; and processes, packages, and markets pipe tobaccos. The NewGen products segment markets e-cigarettes, e-liquids, vaporizers, and other related products; distributes a range of vaping products to non-traditional retail outlets through VaporBeast, Vapor Shark, Vapor Supply, and IVG; and distributes a range of vaping related products to individual consumers through Vapor Shark, Vapor World, and VaporFi branded retail outlets, as well as online platforms. The Insurance segment offers auto and homeowners property and casualty insurance. The Other segment provides out-of-home advertising services, including advertising space to customers on its physical billboards or other outdoor structures. As of December 31, 2018, it owned and operated 394 billboard faces located across Alabama, Florida, Georgia, and Texas; and leased and operated 3 billboard faces in South Carolina. The company distributes its smokeless and smoking products primarily through wholesale distributors; and NewGen products primarily through e-commerce. The company was formerly known as Standard Diversified Opportunities Inc. and changed its name to Standard Diversified Inc. in April 2018. Standard Diversified Inc. was founded in 1990 and is headquartered in Mineola, New York.

Details
Name: Standard Diversified Inc.
SD61
Exchange: MUN
Founded: 1990
$283,470,662
16,814,696
Website: http://www.standarddiversified.com
Address: Standard Diversified Inc.
155 Mineola Boulevard,
Mineola,
New York, 11501,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX SDI Class A Common Stock (To Be Deleted) NYSE MKT LLC US USD 08. Jun 2017
MUN SD61 Class A Common Stock (To Be Deleted) Boerse Muenchen DE EUR 08. Jun 2017
OTCPK SDOI.B Class B Common Stock (To Be Deleted) Pink Sheets LLC US USD 21. Jul 2017
Number of employees
Current staff
Staff numbers
585
Standard Diversified employees.
Industry
Tobacco
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 00:23
End of day share price update: 2019/07/19 00:00
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.