AIM:CWR

Stock Analysis Report

Executive Summary

Ceres Power Holdings plc, a fuel cell technology and engineering company, engages in the development and commercialization of fuel cell technology in North America, Asia, and Europe.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has Ceres Power Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.4%

CWR

6.1%

GB Electrical

1.7%

GB Market


1 Year Return

21.5%

CWR

23.5%

GB Electrical

2.9%

GB Market

Return vs Industry: CWR matched the UK Electrical industry which returned 23.5% over the past year.

Return vs Market: CWR exceeded the UK Market which returned 2.9% over the past year.


Shareholder returns

CWRIndustryMarket
7 Day-1.4%6.1%1.7%
30 Day7.6%1.9%-0.7%
90 Day6.0%12.2%-1.8%
1 Year21.5%21.5%26.3%23.5%8.0%2.9%
3 Year101.9%101.9%21.1%14.9%18.2%3.8%
5 Year153.1%153.1%229.4%-87.2%35.6%6.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Ceres Power Holdings undervalued compared to its fair value and its price relative to the market?

3.84x

Price to Book (PB) ratio


Share Price vs. Fair Value

Undervalued: CWR (£2.12) is trading above our estimate of fair value (£1.21)

Significantly Undervalued: CWR is trading above our estimate of fair value.


Price To Earnings Ratio

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

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


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CWR is overvalued based on its PB Ratio (3.8x) compared to the GB Electrical industry average (1.7x).


Next Steps

Future Growth

How is Ceres Power Holdings forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

64.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CWR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.2%).

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

High Growth Earnings: CWR's loss is forecast to worsen by 0% next year.

Revenue vs Market: CWR's revenue (13.2% per year) is forecast to grow faster than the UK market (3.9% per year).

High Growth Revenue: CWR's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CWR is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Ceres Power Holdings performed over the past 5 years?

5.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CWR is unprofitable, but has reduced losses over the past 5 years at a rate of 5.1% per year.

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

Earnings vs Industry: CWR is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (0.2%).


Return on Equity

High ROE: CWR has a negative Return on Equity (-5.72%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: CWR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: CWR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Ceres Power Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: CWR's short term assets (£81.4M) exceeds its short term liabilities (£7.5M)

Long Term Liabilities: CWR's short term assets (81.4M) exceeds its long term liabilities (1.3M)


Debt to Equity History and Analysis

Debt Level: CWR is debt free.

Reducing Debt: CWR has not had any debt for past 5 years.


Balance Sheet

Inventory Level: CWR has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if CWR's debt is covered by short term assets.


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.

Stable Cash Runway: CWR has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CWR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Ceres Power Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.0%markettop25%5.4%industryaverage2.2%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate CWR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CWR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if CWR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CWR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CWR's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

What is the CEO of Ceres Power Holdings's salary, the management and board of directors tenure and is there insider trading?

4.6yrs

Average management tenure


CEO

Phil Caldwell (49yo)

6.1yrs

Tenure

UK£320,619

Compensation

Mr. Philip Joseph Caldwell, also known as Phil, has been the Chief Executive Officer of Ceres Power Holdings PLC since September 2, 2013. Mr. Caldwell serves as Corporate Development Director of Intelligen ...


CEO Compensation Analysis

Compensation vs. Market: Phil's total compensation ($USD412.46K) is below average for companies of similar size in the UK market ($USD875.32K).

Compensation vs Earnings: Phil's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

4.6yrs

Average Tenure

49yo

Average Age

Experienced Management: CWR's management team is considered experienced (4.6 years average tenure).


Board Age and Tenure

5.8yrs

Average Tenure

57yo

Average Age

Experienced Board: CWR's board of directors are considered experienced (5.8 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Richard Preston (49yo)

    CFO, Finance Director & Executive Director

    • Tenure: 6.7yrs
    • Compensation: UK£198.52k
  • Tony Cochrane

    Chief Commercial Officer

    • Tenure: 4.2yrs
  • Mark Selby (42yo)

    Chief Technology Officer

    • Tenure: 5yrs
    • Compensation: UK£180.73k
  • Phil Caldwell (49yo)

    CEO & Executive Director

    • Tenure: 6.1yrs
    • Compensation: UK£320.62k
  • James Falla

    Chief Operating Officer

    • Tenure: 4.6yrs
  • Caroline Buchan

    Company Secretary

    • Tenure: 3yrs

Board Members

  • AJ Aubrey (57yo)

    Non-Executive Chairman

    • Tenure: 6.8yrs
    • Compensation: UK£45.00k
  • Aidan Hughes (58yo)

    Non-Executive Director

    • Tenure: 4.7yrs
    • Compensation: UK£40.00k
  • Steve Callaghan (58yo)

    Senior Independent Director

    • Tenure: 5.6yrs
    • Compensation: UK£40.00k
  • Richard Preston (49yo)

    CFO, Finance Director & Executive Director

    • Tenure: 6.7yrs
    • Compensation: UK£198.52k
  • Robert Trezona

    Non-Executive Director

    • Tenure: 6.8yrs
    • Compensation: UK£40.00k
  • Phil Caldwell (49yo)

    CEO & Executive Director

    • Tenure: 6.1yrs
    • Compensation: UK£320.62k
  • Caroline Hargrove (51yo)

    Non Executive Director

    • Tenure: 1yrs
  • Haoran Hu (63yo)

    Non-Executive Director

    • Tenure: 0.8yrs

Company Information

Ceres Power Holdings plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ceres Power Holdings plc
  • Ticker: CWR
  • Exchange: AIM
  • Founded: 2001
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: UK£324.631m
  • Shares outstanding: 153.13m
  • Website: https://www.cerespower.com

Number of Employees


Location

  • Ceres Power Holdings plc
  • Viking House
  • Foundry Lane
  • Horsham
  • West Sussex
  • RH13 5PX
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CWRAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPNov 2004
CFJADB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2004
CPWH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2004

Biography

Ceres Power Holdings plc, a fuel cell technology and engineering company, engages in the development and commercialization of fuel cell technology in North America, Asia, and Europe. The company offers Ste ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 20:32
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.