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Discovery

MUN:D3H
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
D3H
MUN
ZAR93B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Discovery Limited provides various insurance products. The last earnings update was 147 days ago. More info.


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D3H Share Price and Events
7 Day Returns
-2.3%
MUN:D3H
0.1%
DE Insurance
-0.6%
DE Market
1 Year Returns
-6%
MUN:D3H
18.8%
DE Insurance
-8.3%
DE Market
D3H Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Discovery (D3H) -2.3% -2.5% -0% -6% 18.6% 34.6%
DE Insurance 0.1% 3.2% 2.2% 18.8% 61.6% 61.1%
DE Market -0.6% 1.8% -3.2% -8.3% 8.9% 10.6%
1 Year Return vs Industry and Market
  • D3H underperformed the Insurance industry which returned 18.8% over the past year.
  • D3H outperformed the Market in Germany which returned -8.3% over the past year.
Price Volatility
D3H
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Discovery's competitors could be found in our database.

D3H Value

 Is Discovery 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 Discovery 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 Discovery.

MUN:D3H Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= ZAR75.39 * 13.9%
ZAR10.49
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. ZAR75.39
Discount Rate (Cost of Equity) See below 5.2%
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:D3H
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.68
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.684 (1 + (1- 28%) (15.77%))
0.84
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.84 * 5.96%)
5.24%

Discounted Cash Flow Calculation for MUN:D3H using Excess Returns Model Model

The calculations below outline how an intrinsic value for Discovery is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

MUN:D3H Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.9% – 5.24%) * ZAR75.39)
ZAR6.54
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ZAR6.54 / (5.24% - 0.23%)
ZAR130.66
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ZAR75.39 + ZAR130.66
ZAR206.05
MUN:D3H Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in MUN:D3H represents 0.06368x of JSE:DSY
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.06368x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (ZAR) x Listing Adjustment Factor
= ZAR 206.05 x 0.06368
€13.12
Value per share (EUR) From above. €13.12
Current discount Discount to share price of €9.03
= -1 x (€9.03 - €13.12) / €13.12
31.2%

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

Current Discount
Amount off the current price Discovery is available for.
Intrinsic value
31%
Share price is €9.03 vs Future cash flow value of €13.12
Current Discount Checks
For Discovery to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Discovery's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Discovery'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 Discovery's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Discovery's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MUN:D3H PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in ZAR ZAR8.17
JSE:DSY Share Price ** JSE (2019-07-18) in ZAR ZAR141.75
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.37x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.71x

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

** Primary Listing of Discovery.

MUN:D3H PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JSE:DSY Share Price ÷ EPS (both in ZAR)

= 141.75 ÷ 8.17

17.35x

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

  • Discovery is overvalued based on earnings compared to the DE Insurance industry average.
  • Discovery is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Discovery's expected growth come at a high price?
Raw Data
MUN:D3H PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
22.8%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.11x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

MUN:D3H PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.35x ÷ 22.8%

0.76x

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

  • Discovery is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Discovery's assets?
Raw Data
MUN:D3H PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in ZAR ZAR59.72
JSE:DSY Share Price * JSE (2019-07-18) in ZAR ZAR141.75
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.08x
Germany Market PB Ratio Median Figure of 569 Publicly-Listed Companies 1.75x
MUN:D3H PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JSE:DSY Share Price ÷ Book Value per Share (both in ZAR)

= 141.75 ÷ 59.72

2.37x

* Primary Listing of Discovery.

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

  • Discovery is overvalued based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Discovery'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. Discovery has a total score of 3/6, 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.

D3H Future Performance

 How is Discovery expected to perform in the next 1 to 3 years based on estimates from 3 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
22.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Discovery expected to grow at an attractive rate?
  • Discovery's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Discovery's earnings growth is expected to exceed the Germany market average.
  • Discovery's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
MUN:D3H Future Growth Rates Data Sources
Data Point Source Value (per year)
MUN:D3H Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 22.8%
MUN:D3H Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3.3%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.2%
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:D3H Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in ZAR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MUN:D3H Future Estimates Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 15,130
2022-06-30 13,051
2021-06-30 44,940 8,835 2
2020-06-30 40,032 7,365 3
2019-06-30 36,067 6,037 3
MUN:D3H Past Financials Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income *
2018-12-31 49,733 -151 5,282
2018-09-30 51,267 1,632 5,467
2018-06-30 52,800 3,414 5,652
2018-03-31 52,087 3,229 5,346
2017-12-31 51,373 3,044 5,039
2017-09-30 48,291 1,106 4,725
2017-06-30 45,209 -832 4,411
2017-03-31 44,615 -1,257 4,161
2016-12-31 44,021 -1,682 3,910
2016-09-30 43,872 -349 3,783
2016-06-30 43,723 985 3,655
2016-03-31 42,479 935 3,707

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Discovery's earnings are expected to grow significantly at over 20% yearly.
  • Discovery's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
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:D3H Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Discovery Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:D3H Future Estimates Data
Date (Data in ZAR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 11.83 12.27 11.39 2.00
2020-06-30 11.25 13.80 9.61 3.00
2019-06-30 9.26 10.68 8.12 3.00
MUN:D3H Past Financials Data
Date (Data in ZAR Millions) EPS *
2018-12-31 8.17
2018-09-30 8.47
2018-06-30 8.76
2018-03-31 8.29
2017-12-31 7.81
2017-09-30 7.33
2017-06-30 6.84
2017-03-31 6.46
2016-12-31 6.07
2016-09-30 5.90
2016-06-30 5.73
2016-03-31 5.90

*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.
  • Discovery is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Discovery'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Discovery 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.

D3H Past Performance

  How has Discovery 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 Discovery's growth in the last year to its industry (Insurance).
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.
  • Discovery's year on year earnings growth rate has been positive over the past 5 years.
  • Discovery's 1-year earnings growth is less than its 5-year average (4.8% vs 8.3%)
  • Discovery's earnings growth has not exceeded the DE Insurance industry average in the past year (4.8% vs 9.4%).
Earnings and Revenue History
Discovery'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 Discovery Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:D3H Past Revenue, Cash Flow and Net Income Data
Date (Data in ZAR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 49,733.00 5,282.00 18,255.00
2018-09-30 51,266.50 5,467.00 17,637.00
2018-06-30 52,800.00 5,652.00 17,019.00
2018-03-31 52,086.50 5,345.50 16,699.00
2017-12-31 51,373.00 5,039.00 16,379.00
2017-09-30 48,291.00 4,725.00 15,966.00
2017-06-30 45,209.00 4,411.00 15,553.00
2017-03-31 44,615.00 4,160.50 15,359.50
2016-12-31 44,021.00 3,910.00 15,166.00
2016-09-30 43,872.00 3,782.50 14,795.00
2016-06-30 43,723.00 3,655.00 14,424.00
2016-03-31 42,479.00 3,706.50 13,626.50
2015-12-31 41,235.00 3,758.00 12,829.00
2015-09-30 40,275.50 4,619.00 12,330.00
2015-06-30 39,316.00 5,480.00 11,831.00
2015-03-31 38,148.00 5,254.00 11,739.00
2014-12-31 36,980.00 5,028.00 11,227.00
2014-09-30 35,583.00 4,137.00 10,670.00
2014-06-30 34,186.00 3,246.00 10,113.00
2014-03-31 31,506.00 2,890.50 9,467.50
2013-12-31 28,826.00 2,535.00 8,822.00
2013-09-30 26,858.50 2,299.00 8,384.00
2013-06-30 24,891.00 2,063.00 7,946.00
2013-03-31 23,792.50 2,202.50 7,621.50
2012-12-31 22,695.00 2,342.00 7,356.00
2012-09-30 21,282.00 2,270.50 7,121.50

*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.
  • Discovery has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Discovery used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Discovery has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Discovery'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 Insurance 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.
Discovery has a total score of 3/6, 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.

D3H Health

 How is Discovery'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 Discovery's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Discovery is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Discovery's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Discovery'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6.2x 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 Discovery Company Filings, last reported 6 months ago.

MUN:D3H Past Debt and Equity Data
Date (Data in ZAR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 39,954.00 11,030.00 89,696.00
2018-09-30 39,954.00 11,030.00 89,696.00
2018-06-30 37,594.00 10,497.00 86,309.00
2018-03-31 37,594.00 10,497.00 86,309.00
2017-12-31 34,212.00 9,453.00 79,581.00
2017-09-30 34,212.00 9,453.00 79,581.00
2017-06-30 32,290.00 8,190.00 70,276.00
2017-03-31 32,290.00 8,190.00 70,276.00
2016-12-31 30,291.00 6,558.00 61,709.00
2016-09-30 30,291.00 6,558.00 61,709.00
2016-06-30 30,607.00 5,260.00 61,452.00
2016-03-31 30,607.00 5,260.00 61,452.00
2015-12-31 31,311.00 5,481.00 52,969.00
2015-09-30 31,311.00 5,481.00 52,969.00
2015-06-30 27,356.00 897.00 47,375.00
2015-03-31 27,356.00 954.00 47,375.00
2014-12-31 20,599.00 1,956.00 46,168.00
2014-09-30 20,599.00 1,956.00 46,168.00
2014-06-30 17,411.00 535.00 41,157.00
2014-03-31 17,411.00 535.00 41,157.00
2013-12-31 16,332.00 439.00 36,190.00
2013-09-30 16,332.00 439.00 36,190.00
2013-06-30 13,708.00 626.00 30,504.00
2013-03-31 13,708.00 626.00 30,135.00
2012-12-31 12,884.00 437.00 26,910.00
2012-09-30 12,884.00 437.00 26,910.00
  • Discovery's level of debt (36.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.7% vs 36.7% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 6.8x coverage).
X
Financial health checks
We assess Discovery'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. Discovery has a total score of 4/6, 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.

D3H Dividends

 What is Discovery'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
1.61%
Current annual income from Discovery dividends. Estimated to be 1.83% next year.
If you bought €2,000 of Discovery shares you are expected to receive €32 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?
  • Discovery's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Discovery's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
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:D3H 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 3 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
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 3.8%

Industry and Market average data is calculated daily.

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

MUN:D3H Future Dividends Estimate Data
Date (Data in ZAR) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30 2.73 5.00
2020-06-30 2.45 5.00
2019-06-30 2.14 5.00
MUN:D3H Past Annualized Dividends Data
Date (Data in ZAR) Dividend per share (annual) Avg. Yield (%)
2018-09-28 2.280 1.511
2018-09-21 2.280 1.312
2018-09-04 2.150 1.238
2017-09-18 1.860 1.147
2016-10-31 1.755 1.388
2016-09-06 1.755 1.531
2016-02-29 1.745 1.442
2016-02-25 1.710 1.473
2015-09-10 1.780 1.342
2015-02-24 1.710 1.333
2014-09-03 1.560 1.472
2014-02-20 1.460 1.619
2013-09-03 1.290 1.586
2013-02-21 1.200 1.457
2012-09-04 1.070 1.832
2012-07-16 1.070 1.917
2012-02-23 1.000 1.975
2011-09-01 0.960 2.259
2011-08-31 0.960 2.478
2011-02-22 0.840 2.195
2011-01-17 0.840 2.146
2010-09-01 0.720 1.847
2010-07-15 0.720 2.012
2010-02-24 0.660 1.903
2009-12-31 0.660 2.091
2009-09-02 0.660 2.215
2009-08-31 0.660 2.374
2009-02-19 0.510 1.967
2009-01-15 0.510 2.017

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Discovery's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess Discovery'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 Discovery afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Discovery has a total score of 5/6, see the detailed checks below.


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

D3H Management

 What is the CEO of Discovery'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
Adrian Gore
COMPENSATION ZAR19,815,136
AGE 54
TENURE AS CEO 20.5 years
CEO Bio

Mr. Adrian Gore, BSc (Hons), FFA, ASA, MAAA, FASSA, is the Founder of Discovery Health Proprietary Limited. Mr. Gore Founder of Discovery Limited and serves as the Group Chief Executive Officer of Discovery Limited, a subsidiary of FirstRand Ltd. Mr. Gore began his career at Liberty Life where he was instrumental in the development of Liberty's Medical Lifestyle product. He serves as the Chairman of Endeavor South Africa and the South African Board of Jewish Education. He serves as the Chairman of the Board at Destiny Health, Inc. and Destiny Health (USA). He serves as a Director of The Vitality Group, Inc. Mr. Gore serves as a Director of Ethics Institute of South Africa. He has been an Executive Director at Discovery Limited since 1999. He is the Chairman of SA SME Fund. He serves on the Boards of Discovery Health, Vitality Lifestyle (Pty) Ltd., the International Marketing Council of South Africa and PruHealth (UK). He served as a Director of Vitality Group Limited. In 1998, Mr. Gore was chosen as South Africa's Best Entrepreneur in the annual Ernst & Young Entrepreneur of the Year Award and voted "most admired individual in health insurance," by Professional Management Review magazine. He was also awarded the South African Jewish Business Achiever Award and in 2006, Mr. Gore won the South Africa's Leading Managers Award from the Corporate Research Foundation and Business Report. He is a Fellow of the Faculty of Actuaries (Edinburgh), an Associate of the Society of Actuaries (Chicago), and a member the American Academy of Actuaries. He graduated from the University of the Witwatersrand with a Bachelor of Science (Honors) degree in Actuarial Science.

CEO Compensation
  • Adrian's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Adrian's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Discovery management team in years:

6.3
Average Tenure
53.5
Average Age
  • The average tenure for the Discovery management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Adrian Gore

TITLE
Founder
COMPENSATION
ZAR20M
AGE
54
TENURE
20.5 yrs

Deon Viljoen

TITLE
Group CFO
COMPENSATION
ZAR10M
AGE
51
TENURE
2.2 yrs

Barry Swartzberg

TITLE
Executive Director
COMPENSATION
ZAR19M
AGE
53

Herschel Mayers

TITLE
Executive Director
COMPENSATION
ZAR2M
AGE
58

Neville Koopowitz

TITLE
Executive Director
COMPENSATION
ZAR2M
AGE
54

Alan Pollard

TITLE
Executive Director
COMPENSATION
ZAR984K
AGE
49

Hylton Kallner

TITLE
Executive Director
COMPENSATION
ZAR29M
AGE
43

Ayanda Ntsaluba

TITLE
Executive Director
COMPENSATION
ZAR13M
AGE
58

Kenny Rabson

TITLE
Chief Executive Officer of Discovery Invest & Employee Benefits
COMPENSATION
ZAR14M
AGE
50
TENURE
3.5 yrs

Jonathan Broomberg

TITLE
Chief Executive officer of Discovery Health
COMPENSATION
ZAR12M
AGE
57
TENURE
9 yrs
Board of Directors Tenure

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

12.8
Average Tenure
53.5
Average Age
  • The average tenure for the Discovery board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Mark Tucker

TITLE
Independent Non-Executive Chairperson
AGE
62
TENURE
0.3 yrs

Adrian Gore

TITLE
Founder
COMPENSATION
ZAR20M
AGE
54
TENURE
20.5 yrs

Deon Viljoen

TITLE
Group CFO
COMPENSATION
ZAR10M
AGE
51
TENURE
2.2 yrs

Barry Swartzberg

TITLE
Executive Director
COMPENSATION
ZAR19M
AGE
53
TENURE
19.9 yrs

Herschel Mayers

TITLE
Executive Director
COMPENSATION
ZAR2M
AGE
58
TENURE
19.3 yrs

Neville Koopowitz

TITLE
Executive Director
COMPENSATION
ZAR2M
AGE
54
TENURE
19.8 yrs

Alan Pollard

TITLE
Executive Director
COMPENSATION
ZAR984K
AGE
49
TENURE
11.9 yrs

Hylton Kallner

TITLE
Executive Director
COMPENSATION
ZAR29M
AGE
43
TENURE
9.1 yrs

Ayanda Ntsaluba

TITLE
Executive Director
COMPENSATION
ZAR13M
AGE
58
TENURE
8 yrs

Sen De Bruyn Sebotsa

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR1M
AGE
47
TENURE
13.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Mar 19 Buy Discovery Limited, Bee Employee Share Trust Company 12. Mar 19 12. Mar 19 40,000 €9.02 €360,355
04. Dec 18 Sell Brian Brink Individual 30. Nov 18 30. Nov 18 -5,000 €0.01 €-49
29. Nov 18 Buy Herschel Mayers Individual 29. Nov 18 29. Nov 18 150,166 €10.43 €1,566,533
29. Nov 18 Buy Barry Swartzberg Individual 29. Nov 18 29. Nov 18 454,104 €10.43 €4,737,216
29. Nov 18 Buy Adrian Gore Individual 29. Nov 18 29. Nov 18 877,991 €10.43 €9,159,208
19. Sep 18 Sell Thabane Maphai Individual 18. Sep 18 18. Sep 18 -84,000 €10.00 €-837,733
18. Sep 18 Sell Alan Pollard Individual 13. Sep 18 14. Sep 18 -230,000 €10.15 €-2,331,988
13. Sep 18 Sell Ayanda Ntsaluba Individual 11. Sep 18 11. Sep 18 -7,000 €9.79 €-68,524
07. Sep 18 Sell Jonathan Broomberg Individual 05. Sep 18 06. Sep 18 -20,000 €9.80 €-190,893
X
Management checks
We assess Discovery'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. Discovery 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.

D3H News

Simply Wall St News

D3H Company Info

Description

Discovery Limited provides various insurance products. The company offers health, life, car, and home insurance products. It also provides investment products and credit cards; and Vitality, which offers rewards for getting healthier. The company was formerly known as Discovery Holdings Limited and changed its name to Discovery Limited in December 2012. Discovery Limited was founded in 1992 and is based in Sandton, South Africa.

Details
Name: Discovery Limited
D3H
Exchange: MUN
Founded: 1992
ZAR5,969,590,565
656,503,726
Website: http://www.discovery.co.za
Address: Discovery Limited
1 Discovery Place,
Sandton,
Gauteng, 2146,
South Africa
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JSE DSY Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 21. Oct 1999
MUN D3H Ordinary Shares Boerse Muenchen DE EUR 21. Oct 1999
JSE DSBP ZAR0.001 B PREF SHS NON-CUM The Johannesburg Securities Exchange ZA ZAR 28. Dec 2011
Number of employees
Current staff
Staff numbers
0
Discovery employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 21:58
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/18
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.