DB:JR0

Stock Analysis Report

Executive Summary

Just Group Plc provides various financial services in the retirement income market in the United Kingdom.

Snowflake

Fundamentals

Fair value with moderate growth potential.

Risks

  • Just Group has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.7%

DB:JR0

0.5%

DE Insurance

-0.7%

DE Market


1 Year Return

n/a

DB:JR0

21.2%

DE Insurance

-7.6%

DE Market

No trading data on JR0.

No trading data on JR0.


Share holder returns

JR0IndustryMarket
7 Day-0.7%0.5%-0.7%
30 Day-1.6%2.0%-0.5%
90 Day-22.5%2.1%-3.8%
1 Yearn/a26.5%21.2%-4.6%-7.6%
3 Yearn/a85.4%63.0%18.5%8.3%
5 Yearn/a101.2%61.1%28.9%11.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Just Group undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Just Group's share price is below the future cash flow value, and at a moderate discount (> 20%).

Just Group's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Just Group is loss making, we can't compare its value to the DE Insurance industry average.

Just Group is loss making, we can't compare the value of its earnings to the Germany market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Just Group, we can't assess if its growth is good value.


Price Based on Value of Assets

Just Group is good value based on assets compared to the DE Insurance industry average.


Next Steps

Future Growth

How is Just Group expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

45.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Just Group's revenue is expected to grow by 1.5% yearly, however this is not considered high growth (20% yearly).

Just Group's earnings are expected to grow significantly at over 20% yearly.

Just Group's revenue growth is positive but not above the Germany market average.

Just Group's earnings growth is expected to exceed the Germany market average.

Just Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Just Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Just Group performed over the past 5 years?

12.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Just Group does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.

Unable to compare Just Group's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Just Group's 1-year growth to the DE Insurance industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Just Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

Just Group used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.


Return on Capital Employed

It is difficult to establish if Just Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Just Group's financial position?


Financial Position Analysis

Just Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Just Group's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Just Group's level of debt (35%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (14.9% vs 35% today).

Operating cash flow is negative therefore debt is not well covered.

Just Group is making a loss, therefore interest payments are not well covered by earnings.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 40.7x debt.


Next Steps

Dividend

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

2.48%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate Just Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Just Group's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Just Group has not reported any payouts.

Unable to verify if Just Group's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Just Group has not reported any payouts.


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (13.1x coverage).


Next Steps

Management

What is the CEO of Just Group's salary, the management and board of directors tenure and is there insider trading?

3.3yrs

Average management tenure


CEO

David Richardson (47yo)

0.3yrs

Tenure

UK£1,564,000

Compensation

Mr. David Louis Richardson, FIA, CFA, has been Interim Group Chief Executive Officer at Just Group Plc since April 30, 2019 and serves as its Interim Group Chief Financial Officer since October 31, 2018. M ...


CEO Compensation Analysis

David's remuneration is higher than average for companies of similar size in Germany.

David's compensation has increased whilst company is loss making.


Management Age and Tenure

3.3yrs

Average Tenure

The tenure for the Just Group management team is about average.


Board Age and Tenure

3.3yrs

Average Tenure

69yo

Average Age

The tenure for the Just Group board of directors is about average.


Insider Trading

More shares have been bought than sold by Just Group individual insiders in the past 3 months.


Recent Insider Transactions

Buy€14,08213 Jun 19
Michael Deakin
EntityIndividual
Shares25,000
Max Price€0.56
Buy€113,19612 Jun 19
Christopher Gibson-Smith
EntityIndividual
Role
Chairman of the Board
Shares200,000
Max Price€0.57
Buy€17,31712 Jun 19
Keith Nicholson
EntityIndividual
Role
Lead Director
Shares30,000
Max Price€0.58
Buy€11,64612 Jun 19
Clare Mary Spottiswoode
EntityIndividual
Role
Member of the Board of Directors
Shares20,000
Max Price€0.58
Buy€42,37412 Jun 19
Steve Melcher
EntityIndividual
Role
Member of the Board of Directors
Shares75,000
Max Price€0.56
Buy€52,05910 Jun 19
Ian Cormack
EntityIndividual
Role
Member of the Board of Directors
Shares100,000
Max Price€0.52
Buy€10,17810 Jun 19
Ian Cormack
EntityIndividual
Role
Member of the Board of Directors
Shares19,169
Max Price€0.53

Ownership Breakdown


Management Team

  • Paul Turner

    Managing Director of Retail

    • Tenure: 3.3yrs
  • David Cooper

    Group Marketing & Distribution Director

    • Tenure: 3.3yrs
  • David Richardson (47yo)

    Interim Group CEO

    • Tenure: 0.3yrs
    • Compensation: £1.56m
  • Jo Varley

    Interim Group Chief Operating Officer

  • Giles Offen

    Group Chief Digital Information Officer

    • Tenure: 3.3yrs
  • Hugh McKee

    Managing Director of UK Retail Business

    • Tenure: 3.3yrs
  • Steve Lowe

    Group Communications Director

  • Kathryn Gray

    Group Human Resources Director

    • Tenure: 1.9yrs
  • Alistair Smith

    Manager of Investor Relations

  • Alex Duncan

    Group Chief Risk Officer

    • Tenure: 3.3yrs

Board Members

  • Chris Gibson-Smith (73yo)

    Chairman of the Board

    • Tenure: 3.3yrs
    • Compensation: £250.00k
  • Clare Mary Spottiswoode (66yo)

    Non-Executive Director

    • Tenure: 3.3yrs
    • Compensation: £60.00k
  • Ian Cormack (72yo)

    Independent Non-Executive Director

    • Tenure: 3.3yrs
    • Compensation: £74.00k
  • Keith Nicholson (70yo)

    Senior Independent Director

    • Tenure: 3.3yrs
    • Compensation: £85.00k
  • David Richardson (47yo)

    Interim Group CEO

    • Tenure: 3.3yrs
    • Compensation: £1.56m
  • Paul Bishop (65yo)

    Non-Executive Director

    • Tenure: 3.3yrs
    • Compensation: £75.00k
  • Steve Melcher (69yo)

    Independent Non-Executive Director

    • Tenure: 4.2yrs
    • Compensation: £75.00k
  • David Davison

    Director at Spence & Partners

Company Information

Just Group plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Just Group plc
  • Ticker: JR0
  • Exchange: DB
  • Founded: 2004
  • Industry: life and health insurance
  • Sector: insurance
  • Market Cap: UK£577.576m
  • Listing Market Cap: UK£643.540m
  • Shares outstanding: 1.04b
  • Website: Click here

Number of Employees


Location

  • Just Group plc
  • Vale House
  • Roebuck Close
  • Reigate
  • Surrey
  • RH2 7RU
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JUSTLSE (London Stock Exchange)YesOrdinary SharesGBGBPNov 2013
JR0DB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2013

Biography

Just Group Plc provides various financial services in the retirement income market in the United Kingdom. The company offers de-risking solutions, individually underwritten retirement income products, long ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/20 22:48
End of Day Share Price2019/07/19 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.