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Surface Transforms

AIM:SCE
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SCE
AIM
£27M
Market Cap
  1. Home
  2. GB
  3. Automobiles
Company description

Surface Transforms Plc, together with its subsidiaries, designs, develops, manufactures, and sells carbon ceramic products for the brakes market in the United Kingdom and rest of Europe; the United States; and internationally. The last earnings update was 139 days ago. More info.


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  • Surface Transforms has significant price volatility in the past 3 months.
SCE Share Price and Events
7 Day Returns
-7.1%
AIM:SCE
-1.8%
GB Auto Components
-0.6%
GB Market
1 Year Returns
-4.9%
AIM:SCE
-1.1%
GB Auto Components
-2.2%
GB Market
SCE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Surface Transforms (SCE) -7.1% 23.8% 41.8% -4.9% -12.4% 129.4%
GB Auto Components -1.8% 3.7% 2.4% -1.1% -16.2% -6.7%
GB Market -0.6% 1.4% 0.4% -2.2% 11.5% 6.7%
1 Year Return vs Industry and Market
  • SCE underperformed the Auto Components industry which returned -1.1% over the past year.
  • SCE underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -2.2% over the past year.
Price Volatility
SCE
Industry
5yr Volatility vs Market

Value

 Is Surface Transforms 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 Surface Transforms 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 Surface Transforms.

AIM:SCE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 AIM:SCE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.27 (1 + (1- 19%) (1.59%))
1.192
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.192 * 6.65%)
9.15%

Discounted Cash Flow Calculation for AIM:SCE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Surface Transforms 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.

AIM:SCE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.15%)
2020 0.70 Analyst x1 0.64
2021 0.80 Analyst x1 0.67
2022 0.88 Est @ 9.71% 0.67
2023 0.94 Est @ 7.16% 0.66
2024 0.99 Est @ 5.38% 0.64
2025 1.03 Est @ 4.14% 0.61
2026 1.07 Est @ 3.26% 0.58
2027 1.09 Est @ 2.65% 0.54
2028 1.12 Est @ 2.22% 0.51
2029 1.14 Est @ 1.93% 0.47
Present value of next 10 years cash flows £6.00
AIM:SCE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £1.14 × (1 + 1.23%) ÷ (9.15% – 1.23%)
£14.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £14.56 ÷ (1 + 9.15%)10
£6.06
AIM:SCE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £6.00 + £6.06
£12.07
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £12.07 / 136.01
£0.09
AIM:SCE Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.09
Current discount Discount to share price of £0.20
= -1 x (£0.20 - £0.09) / £0.09
-119.8%

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

  • The current share price of Surface Transforms 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 Surface Transforms's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Surface Transforms's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:SCE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-11-30) in GBP £-0.02
AIM:SCE Share Price ** AIM (2019-07-15) in GBP £0.2
Europe Auto Components Industry PE Ratio Median Figure of 42 Publicly-Listed Auto Components Companies 11.62x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 790 Publicly-Listed Companies 16.48x

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

** Primary Listing of Surface Transforms.

AIM:SCE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:SCE Share Price ÷ EPS (both in GBP)

= 0.2 ÷ -0.02

-11.19x

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

  • Surface Transforms is loss making, we can't compare its value to the Europe Auto Components industry average.
  • Surface Transforms is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Surface Transforms's expected growth come at a high price?
Raw Data
AIM:SCE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -11.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-1%per year
Europe Auto Components Industry PEG Ratio Median Figure of 32 Publicly-Listed Auto Components Companies 0.74x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 572 Publicly-Listed Companies 1.45x

*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 Surface Transforms, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Surface Transforms's assets?
Raw Data
AIM:SCE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-11-30) in GBP £0.05
AIM:SCE Share Price * AIM (2019-07-15) in GBP £0.2
United Kingdom of Great Britain and Northern Ireland Auto Components Industry PB Ratio Median Figure of 5 Publicly-Listed Auto Components Companies 2.61x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,377 Publicly-Listed Companies 1.5x
AIM:SCE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:SCE Share Price ÷ Book Value per Share (both in GBP)

= 0.2 ÷ 0.05

4.22x

* Primary Listing of Surface Transforms.

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

  • Surface Transforms is overvalued based on assets compared to the GB Auto Components industry average.
X
Value checks
We assess Surface Transforms'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. Surface Transforms 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 Surface Transforms expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
-1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Surface Transforms expected to grow at an attractive rate?
  • Unable to compare Surface Transforms's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Surface Transforms's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as it is expected to be loss making during the next 1-3 years.
  • Surface Transforms's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:SCE Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:SCE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -1%
AIM:SCE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 31.7%
United Kingdom of Great Britain and Northern Ireland Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 14.9%
United Kingdom of Great Britain and Northern Ireland Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 11.4%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland 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
AIM:SCE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:SCE Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-05-31
2020-05-31 2 -1 -2 1
2019-05-31 1 -2 -2 2
AIM:SCE Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-11-30 1 -3 -2
2018-08-31 1 -2 -2
2018-05-31 1 -2 -2
2018-02-28 1 -2 -2
2017-11-30 1 -1 -2
2017-08-31 1 -1 -2
2017-05-31 1 -1 -2
2017-02-28 1 -2 -2
2016-11-30 1 -2 -2
2016-08-31 1 -1 -1
2016-05-31 1 -1 -1
2016-02-29 1 -1 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Surface Transforms is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Surface Transforms's revenue is expected to grow significantly at over 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
AIM:SCE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Surface Transforms Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:SCE Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-05-31
2020-05-31 -0.02 -0.02 -0.02 1.00
2019-05-31 -0.02 -0.02 -0.02 1.00
AIM:SCE Past Financials Data
Date (Data in GBP Millions) EPS *
2018-11-30 -0.02
2018-08-31 -0.02
2018-05-31 -0.02
2018-02-28 -0.02
2017-11-30 -0.02
2017-08-31 -0.02
2017-05-31 -0.02
2017-02-28 -0.02
2016-11-30 -0.02
2016-08-31 -0.02
2016-05-31 -0.01
2016-02-29 -0.01

*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 Surface Transforms will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Surface Transforms'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Surface Transforms 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.

Past Performance

  How has Surface Transforms 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 Surface Transforms's growth in the last year to its industry (Auto Components).
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.
  • Surface Transforms does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Surface Transforms's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Surface Transforms's 1-year growth to the Europe Auto Components industry average as it is not currently profitable.
Earnings and Revenue History
Surface Transforms'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 Surface Transforms Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:SCE Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-11-30 1.35 -2.02 1.27 2.04
2018-08-31 1.36 -1.93 1.17 2.02
2018-05-31 1.36 -1.83 1.08 2.00
2018-02-28 1.13 -2.16 1.12 2.10
2017-11-30 0.90 -2.49 1.16 2.20
2017-08-31 0.80 -2.33 1.10 2.06
2017-05-31 0.70 -2.17 1.05 1.92
2017-02-28 0.80 -1.94 0.90 1.67
2016-11-30 0.91 -1.70 0.76 1.41
2016-08-31 1.13 -1.27 0.71 1.33
2016-05-31 1.36 -0.85 0.65 1.25
2016-02-29 1.29 -0.74 0.66 1.18
2015-11-30 1.23 -0.64 0.67 1.10
2015-08-31 1.15 -0.70 0.67 1.01
2015-05-31 1.07 -0.77 0.67 0.93
2015-02-28 1.20 -0.74 0.60 0.96
2014-11-30 1.34 -0.72 0.54 0.99
2014-08-31 1.31 -0.70 0.58 0.97
2014-05-31 1.27 -0.67 0.61 0.96
2014-02-28 1.24 -0.58 0.63 0.93
2013-11-30 1.21 -0.49 0.65 0.91
2013-08-31 1.14 -0.53 0.62 0.90
2013-05-31 1.06 -0.58 0.60 0.90
2013-02-28 1.06 -0.54 0.64 0.84
2012-11-30 1.07 -0.50 0.67 0.78
2012-08-31 1.03 -0.49 0.66 0.79

*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 Surface Transforms has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Surface Transforms has efficiently used its assets last year compared to the Europe Auto Components industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Surface Transforms 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 Surface Transforms'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 Auto Components 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.
Surface Transforms 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 Surface Transforms'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 Surface Transforms's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Surface Transforms is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Surface Transforms's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Surface Transforms'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 5.7x 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 Surface Transforms Company Filings, last reported 7 months ago.

AIM:SCE Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-11-30 5.61 0.42 0.75
2018-08-31 5.61 0.42 0.75
2018-05-31 5.55 0.30 0.92
2018-02-28 5.55 0.30 0.92
2017-11-30 6.10 0.29 3.28
2017-08-31 6.10 0.29 3.28
2017-05-31 3.91 0.00 1.53
2017-02-28 3.91 0.00 1.53
2016-11-30 5.03 0.00 2.70
2016-08-31 5.03 0.00 2.70
2016-05-31 5.96 0.02 4.78
2016-02-29 5.96 0.02 4.78
2015-11-30 1.10 0.40 0.53
2015-08-31 1.10 0.40 0.53
2015-05-31 1.20 0.40 0.83
2015-02-28 1.20 0.40 0.83
2014-11-30 0.40 0.42 0.13
2014-08-31 0.40 0.42 0.13
2014-05-31 0.64 0.40 0.15
2014-02-28 0.64 0.40 0.15
2013-11-30 1.10 0.44 0.38
2013-08-31 1.10 0.44 0.38
2013-05-31 0.97 0.50 0.46
2013-02-28 0.97 0.50 0.46
2012-11-30 0.76 0.63 0.39
2012-08-31 0.76 0.63 0.39
  • Surface Transforms's level of debt (7.5%) 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 (40.3% vs 7.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Surface Transforms has less than a year of cash runway based on current free cash flow.
  • Surface Transforms has less than a year of cash runway if free cash flow continues to grow at historical rates of 40.3% each year.
X
Financial health checks
We assess Surface Transforms'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. Surface Transforms 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.

Dividends

 What is Surface Transforms'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 Surface Transforms dividends.
If you bought £2,000 of Surface Transforms 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 Surface Transforms's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Surface Transforms'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
AIM:SCE 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 1 Analyst Estimates (S&P Global) See Below
Europe Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

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

AIM:SCE Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-05-31
2020-05-31
2019-05-31

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

  • Unable to perform a dividend volatility check as Surface Transforms has not reported any payouts.
  • Unable to verify if Surface Transforms's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Surface Transforms's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Surface Transforms 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 Surface Transforms's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Surface Transforms afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Surface Transforms 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 Surface Transforms'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
Kevin Johnson
COMPENSATION £152,226
CEO Bio

Dr. Kevin Johnson, BSc, PhD, MBA serves as the Chief Executive Officer at Surface Transforms PLC and serveda s its Co- Head of Technical Development Team since December 2007. Dr. Johnson served as Operations Director of Surface since joining Surface. He has been an Executive Director at Surface Transforms plc since January 12, 2005. He is a Chemist. He has a doctorate in Chemistry from the University of Liverpool and an MBA from Manchester Business School.

CEO Compensation
  • Kevin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kevin's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Kevin Johnson

TITLE
CEO & Executive Director
COMPENSATION
£152K

Michael Cunningham

TITLE
CFO, Secretary & Director
AGE
48
TENURE
1.5 yrs

Steve Harvey

TITLE
Senior Operations Manager
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the Surface Transforms board of directors in years:

9.8
Average Tenure
67.5
Average Age
  • The tenure for the Surface Transforms board of directors is about average.
Board of Directors

David Bundred

TITLE
Non-Executive Chairman
COMPENSATION
£29K
AGE
71
TENURE
7.9 yrs

Kevin Johnson

TITLE
CEO & Executive Director
COMPENSATION
£152K
TENURE
14.5 yrs

Michael Cunningham

TITLE
CFO, Secretary & Director
AGE
48
TENURE
0.8 yrs

Kevin D’Silva

TITLE
Non-Executive Director
COMPENSATION
£18K
AGE
69
TENURE
16.3 yrs

Richard Gledhill

TITLE
Non-Executive Director
COMPENSATION
£18K
AGE
66
TENURE
9.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Surface Transforms individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
16. May 19 Buy Steve Harvey Individual 15. May 19 15. May 19 50,000 £0.12 £5,950
X
Management checks
We assess Surface Transforms'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. Surface Transforms 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

Is Surface Transforms Plc (LON:SCE) Excessively Paying Its CEO?

View our latest analysis for Surface Transforms How Does Kevin Johnson's Compensation Compare With Similar Sized Companies? … A first glance this seems like a real positive for shareholders, since Kevin Johnson is paid less than the average total compensation paid by similar sized companies. … Kevin Johnson is paid less than CEOs of similar size companies, but growth hasn't been particularly impressive and the total shareholder return over three years would leave many disappointed.

Simply Wall St -

What Kind Of Shareholders Own Surface Transforms Plc (LON:SCE)?

The big shareholder groups in Surface Transforms Plc (LON:SCE) have power over the company. … Surface Transforms is not a large company by global standards. … View our latest analysis for Surface Transforms

Simply Wall St -

Surface Transforms (LON:SCE) Shareholders Booked A 44% Gain In The Last Five Years

Surface Transforms Plc (LON:SCE) shareholders have seen the share price descend 10% over the month. … Surface Transforms isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … Over the last half decade Surface Transforms's revenue has actually been trending down at about 2.7% per year.

Simply Wall St -

Surface Transforms Plc (LON:SCE) Is Expected To Breakeven

Surface Transforms Plc's (LON:SCE):. … Surface Transforms Plc, together with its subsidiaries, designs, develops, manufactures, and sells carbon ceramic products for the brakes market in the United Kingdom and rest of Europe; the United States; and internationally. … Check out our latest analysis for Surface Transforms

Simply Wall St -

When Will Surface Transforms Plc (LON:SCE) Breakeven?

Surface Transforms Plc's (LON:SCE):. … Surface Transforms Plc, together with its subsidiaries, designs, develops, manufactures, and sells carbon ceramic products for the brakes market in the United Kingdom and rest of Europe; the United States; and internationally. … See our latest analysis for Surface Transforms

Simply Wall St -

What Does Surface Transforms Plc's (LON:SCE) Ownership Structure Look Like?

I am going to take a deep dive into Surface Transforms Plc’s (LON:SCE) most recent ownership structure, not a frequent subject of discussion among individual investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.

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Is Surface Transforms Plc's (LON:SCE) Balance Sheet Strong Enough To Weather A Storm?

How does SCE’s operating cash flow stack up against its debt? … With this rise in debt, the current cash and short-term investment levels stands at UK£1.53M for investing into the business. … SCE's risk around capital structure is almost non-existent, and the company has the headroom and ability to raise debt should it need to in the future.Next Steps: SCE’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Should You Be Concerned With Surface Transforms Plc's (LON:SCE) -46.47% Earnings Drop?

When Surface Transforms Plc (AIM:SCE) released its most recent earnings update (30 November 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … I use data from the most recent 12 months, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … Each year, for the past five years Surface Transforms's revenue growth has been somewhat muted, with an annual growth rate of -0.15%, on average.

Simply Wall St -

Is Surface Transforms Plc's (LON:SCE) Balance Sheet Strong Enough To Weather A Storm?

How does SCE’s operating cash flow stack up against its debt? … With this increase in debt, SCE's cash and short-term investments stands at UK£1.53M for investing into the business. … SCE's risk around capital structure is almost non-existent, and the company has the headroom and ability to raise debt should it need to in the future.Next Steps: SCE’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Is Surface Transforms Plc’s (LON:SCE) Cash Outlook Optimistic?

Surface Transforms’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … I will be analysing Surface Transforms’s FCF by looking at its FCF yield and its operating cash flow growth. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt Although Surface Transforms generates positive cash flow from its operational activities, the business reinvests all its cash profits as well as borrows more money, to maintain and grow the company.

Simply Wall St -

Company Info

Description

Surface Transforms Plc, together with its subsidiaries, designs, develops, manufactures, and sells carbon ceramic products for the brakes market in the United Kingdom and rest of Europe; the United States; and internationally. It offers carbon-ceramic brake kits and brake disc assemblies for automotive OEMs. The company also provides carbon-ceramic materials for various types of aircraft brake applications, as well as for motorsports, military, and other special vehicles. In addition, it manufactures and supplies carbon-fibre pre-forms that are used as base materials for producing carbon-carbon brake discs and other carbon-carbon components. The company was founded in 1992 and is based in Liverpool, the United Kingdom.

Details
Name: Surface Transforms Plc
SCE
Exchange: AIM
Founded: 1992
£26,522,733
136,014,016
Website: http://www.surfacetransforms.com
Address: Surface Transforms Plc
Image Business Park,
Acornfield Road,
Liverpool,
Merseyside, L33 7UF,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM SCE Ordinary Shares London Stock Exchange AIM Market GB GBP 05. Dec 2000
Number of employees
Current staff
Staff numbers
45
Surface Transforms employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 20:39
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/06/28
Last earnings filing: 2019/02/26
Last earnings reported: 2018/11/30
Last annual earnings reported: 2018/05/31


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.