AIM:TCN

Stock Analysis Report

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Executive Summary

Tricorn Group plc manufactures and supplies pipe and tubing assemblies for companies worldwide. More Details


Snowflake Analysis

Adequate balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TCN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

TCN

-0.004%

GB Machinery

-0.3%

GB Market


1 Year Return

-32.7%

TCN

19.1%

GB Machinery

-16.6%

GB Market

Return vs Industry: TCN underperformed the UK Machinery industry which returned 19.1% over the past year.

Return vs Market: TCN underperformed the UK Market which returned -16.6% over the past year.


Shareholder returns

TCNIndustryMarket
7 Day0%-0.004%-0.3%
30 Day0%9.8%0.7%
90 Day6.5%10.0%-3.4%
1 Year-32.7%-32.7%20.7%19.1%-13.4%-16.6%
3 Year-63.3%-63.7%15.2%7.5%-9.6%-20.8%
5 Year-47.9%-48.4%100.7%76.3%14.5%-11.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tricorn Group undervalued compared to its fair value and its price relative to the market?

4.54x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TCN (£0.08) is trading above our estimate of fair value (£0)

Significantly Below Fair Value: TCN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TCN is good value based on its PE Ratio (4.5x) compared to the GB Machinery industry average (22.2x).

PE vs Market: TCN is good value based on its PE Ratio (4.5x) compared to the UK market (18.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TCN is good value based on its PB Ratio (0.4x) compared to the GB Machinery industry average (1.7x).


Next Steps

Future Growth

How is Tricorn Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

17.5%

Forecasted Capital Goods industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tricorn Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tricorn Group performed over the past 5 years?

-30.3%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: TCN has high quality earnings.

Growing Profit Margin: TCN's current net profit margins (2.8%) are lower than last year (4%).


Past Earnings Growth Analysis

Earnings Trend: TCN has become profitable over the past 5 years.

Accelerating Growth: TCN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TCN had negative earnings growth (-30.3%) over the past year, making it difficult to compare to the Machinery industry average (-13%).


Return on Equity

High ROE: TCN's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Tricorn Group's financial position?


Financial Position Analysis

Short Term Liabilities: TCN's short term assets (£8.6M) exceed its short term liabilities (£8.3M).

Long Term Liabilities: TCN's short term assets (£8.6M) exceed its long term liabilities (£2.9M).


Debt to Equity History and Analysis

Debt Level: TCN's debt to equity ratio (51.9%) is considered high.

Reducing Debt: TCN's debt to equity ratio has reduced from 59.2% to 51.9% over the past 5 years.

Debt Coverage: TCN's debt is well covered by operating cash flow (28.2%).

Interest Coverage: TCN's interest payments on its debt are not well covered by EBIT (2.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Tricorn Group current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: TCN is not paying a notable dividend for the UK market.


Future Payout to Shareholders

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


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.3yrs

Average management tenure


CEO

Mike Welburn (58 yo)

12.92yrs

Tenure

UK£203,000

Compensation

Mr. Michael Ian Welburn, also known as Mike, serves as Sales Director of Redman Fittings Limited. Mr. Welburn has been the Chief Executive Officer of Tricorn Group plc. since November 2007. Mr. Welburn ser ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD0.00) is below average for companies of similar size in the UK market ($USD359.64K).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Welburn
CEO & Executive Director12.92yrsUK£203.00k0.20%
£ 8.2k
David Leakey
Group Sales Director & Executive Director9.33yrsUK£153.00kno data
Michael Stock
Group Finance Director0.17yrno datano data

9.3yrs

Average Tenure

58yo

Average Age

Experienced Management: TCN's management team is seasoned and experienced (9.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Welburn
CEO & Executive Director12.92yrsUK£203.00k0.20%
£ 8.2k
David Leakey
Group Sales Director & Executive Director9.33yrsUK£153.00kno data
Michael Stock
Group Finance Director0.17yrno datano data
Roger Allsop
Non-Executive Director18.75yrsUK£15.00k34.23%
£ 1.4m
Andrew Moss
Non-Executive Chairman5.83yrsUK£40.00k2%
£ 81.3k

9.3yrs

Average Tenure

60yo

Average Age

Experienced Board: TCN's board of directors are considered experienced (9.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 43.5%.


Top Shareholders

Company Information

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


Key Information

  • Name: Tricorn Group plc
  • Ticker: TCN
  • Exchange: AIM
  • Founded: 1986
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: UK£4.061m
  • Shares outstanding: 49.22m
  • Website: https://www.tricorn.uk.com

Number of Employees


Location

  • Tricorn Group plc
  • Spring Lane
  • Malvern Link
  • Malvern
  • Worcestershire
  • WR14 1DA
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TCNAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPSep 1996

Biography

Tricorn Group plc manufactures and supplies pipe and tubing assemblies for companies worldwide. It operates through two segments, Transportation and Energy. The Energy segment provides manipulated tubular ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 20:49
End of Day Share Price2020/10/23 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.