AIM:TON

Stock Analysis Report

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Executive Summary

Titon Holdings Plc designs, manufactures, and markets ventilation products, and door and window fittings in the United Kingdom, South Korea, North America, and internationally. More Details


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TON is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TON's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

-1.8%

TON

1.1%

GB Building

0.3%

GB Market


1 Year Return

42.0%

TON

11.6%

GB Building

0.8%

GB Market

Return vs Industry: TON exceeded the UK Building industry which returned 8.2% over the past year.

Return vs Market: TON exceeded the UK Market which returned 1.1% over the past year.


Shareholder returns

TONIndustryMarket
7 Day-1.8%1.1%0.3%
30 Day-3.2%4.6%3.2%
90 Day16.4%9.5%4.5%
1 Year44.6%42.0%12.5%11.6%6.7%0.8%
3 Year-43.9%-48.0%32.9%23.5%11.5%-1.9%
5 Year25.8%10.4%43.1%24.7%41.8%14.5%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TON (£1.07) is trading below our estimate of fair value (£2.36)

Significantly Below Fair Value: TON is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TON is poor value based on its PE Ratio (203.6x) compared to the GB Building industry average (44.8x).

PE vs Market: TON is poor value based on its PE Ratio (203.6x) compared to the UK market (24.3x).


Price to Earnings Growth Ratio

PEG Ratio: TON is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: TON is good value based on its PB Ratio (0.7x) compared to the GB Building industry average (1.8x).


Next Steps

Future Growth

How is Titon Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

91.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TON's forecast earnings growth (91.8% per year) is above the savings rate (1%).

Earnings vs Market: TON's earnings (91.8% per year) are forecast to grow faster than the UK market (22.9% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TON's revenue (6.7% per year) is forecast to grow slower than the UK market (7.3% per year).

High Growth Revenue: TON's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TON's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Titon Holdings performed over the past 5 years?

-12.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TON has a large one-off gain of £528.0K impacting its September 30 2020 financial results.

Growing Profit Margin: TON's current net profit margins (0.3%) are lower than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: TON's earnings have declined by 12.4% per year over the past 5 years.

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

Earnings vs Industry: TON had negative earnings growth (-95.9%) over the past year, making it difficult to compare to the Building industry average (-47%).


Return on Equity

High ROE: TON's Return on Equity (0.7%) is considered low.


Next Steps

Financial Health

How is Titon Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: TON's short term assets (£13.7M) exceed its short term liabilities (£4.6M).

Long Term Liabilities: TON's short term assets (£13.7M) exceed its long term liabilities (£531.0K).


Debt to Equity History and Analysis

Debt Level: TON is debt free.

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

Debt Coverage: TON has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TON has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

3.76%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TON's dividend (3.76%) is higher than the bottom 25% of dividend payers in the UK market (1.47%).

High Dividend: TON's dividend (3.76%) is low compared to the top 25% of dividend payers in the UK market (4.48%).


Stability and Growth of Payments

Stable Dividend: TON's dividend payments have been volatile in the past 10 years.

Growing Dividend: TON's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (382.3%), TON's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TON's dividends in 3 years are forecast to be well covered by earnings (38% payout ratio).


Next Steps

Management

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

18.2yrs

Average management tenure


CEO

David Ruffell (62 yo)

19.17yrs

Tenure

UK£155,000

Compensation

Mr. David Alan Ruffell, ACMA serves as Group Chief Executive at Titon Holdings PLC since 2002 and also serves as its Executive Director and served as its Secretary. Mr. Ruffell joined Titon Holdings plc in...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD216.81K) is below average for companies of similar size in the UK market ($USD335.50K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Keith Ritchie
Executive Chairman8.67yrsUK£148.00k8.81%
£ 1.0m
David Ruffell
Chief Executive & Executive Director19.17yrsUK£155.00k1.6%
£ 190.1k
John Anderson
Founder & Deputy Chairman8.67yrsUK£35.00k15.59%
£ 1.9m
Tyson Anderson
Sales & Marketing Director and Executive Director17.17yrsUK£104.00k6.23%
£ 738.8k
Tony Gearey
Group IT Director & Director4.33yrsUK£92.00k0.18%
£ 21.8k
C. Isom
Company Secretaryno datano datano data

18.2yrs

Average Tenure

61yo

Average Age

Experienced Management: TON's management team is seasoned and experienced (18.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Keith Ritchie
Executive Chairman8.67yrsUK£148.00k8.81%
£ 1.0m
David Ruffell
Chief Executive & Executive Director19.17yrsUK£155.00k1.6%
£ 190.1k
John Anderson
Founder & Deputy Chairman8.67yrsUK£35.00k15.59%
£ 1.9m
Tyson Anderson
Sales & Marketing Director and Executive Director17.17yrsUK£104.00k6.23%
£ 738.8k
Tony Gearey
Group IT Director & Director4.33yrsUK£92.00k0.18%
£ 21.8k
Kevin Sargeant
Independent Non-Executive Director4.5yrsUK£36.00k0.090%
£ 10.7k
Nicholas Howlett
Independent Non-Executive Director19.17yrsUK£56.00k0.35%
£ 41.0k
Bernd Ratzke
Independent Non-Executive Director2yrsUK£36.00k0.13%
£ 15.9k

8.7yrs

Average Tenure

61yo

Average Age

Experienced Board: TON's board of directors are considered experienced (8.7 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Titon Holdings Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Titon Holdings Plc
  • Ticker: TON
  • Exchange: AIM
  • Founded: 1972
  • Industry: Building Products
  • Sector: Capital Goods
  • Market Cap: UK£11.868m
  • Shares outstanding: 11.14m
  • Website: https://www.titon.com/uk

Number of Employees


Location

  • Titon Holdings Plc
  • Colchester Business Park
  • 894 The Crescent
  • Colchester
  • Essex
  • CO4 9YQ
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TONAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPMar 1988
96EBST (Boerse-Stuttgart)YesOrdinary SharesDEEURMar 1988

Biography

Titon Holdings Plc designs, manufactures, and markets ventilation products, and door and window fittings in the United Kingdom, South Korea, North America, and internationally. It offers a range of passive...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/03 20:03
End of Day Share Price2021/03/03 00:00
Earnings2020/09/30
Annual Earnings2020/09/30


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.