Ashtead Group
Market Cap
UK£10.0b
Last Updated
2019/10/21 20:33 UTC
Data Sources
Company Financials +
Executive Summary
Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment.
Snowflake
Fundamentals
Average dividend payer with moderate growth potential.
Similar Companies
Share Price & News
How has Ashtead Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
2.7%
AHT
1.4%
GB Trade Distributors
0.2%
GB Market
1 Year Return
16.4%
AHT
8.6%
GB Trade Distributors
1.7%
GB Market
Return vs Industry: AHT exceeded the UK Trade Distributors industry which returned 8.6% over the past year.
Return vs Market: AHT exceeded the UK Market which returned 1.7% over the past year.
Shareholder returns
| AHT | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.7% | 1.4% | 0.2% |
| 30 Day | -3.6% | 1.4% | -1.7% |
| 90 Day | -2.4% | 1.9% | -3.1% |
| 1 Year | 18.7%16.4% | 13.2%8.6% | 6.7%1.7% |
| 3 Year | 76.1%67.3% | 42.2%29.1% | 17.7%3.1% |
| 5 Year | 140.7%120.9% | 83.1%59.0% | 36.1%5.5% |
Price Volatility Vs. Market
How volatile is Ashtead Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
The Ashtead Group (LON:AHT) Share Price Has Gained 116%, So Why Not Pay It Some Attention?2 weeks ago | Simply Wall St
Is Ashtead Group plc's (LON:AHT) Capital Allocation Ability Worth Your Time?3 weeks ago | Simply Wall St
Should Ashtead Group plc (LON:AHT) Be Part Of Your Dividend Portfolio?Valuation
Is Ashtead Group undervalued compared to its fair value and its price relative to the market?
12.74x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: AHT (£21.92) is trading above our estimate of fair value (£13.62)
Significantly Below Fair Value: AHT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: AHT is good value based on its PE Ratio (12.7x) compared to the Trade Distributors industry average (15.8x).
PE vs Market: AHT is good value based on its PE Ratio (12.7x) compared to the UK market (16.6x).
Price to Earnings Growth Ratio
PEG Ratio: AHT is poor value based on its PEG Ratio (3.4x)
Price to Book Ratio
PB vs Industry: AHT is overvalued based on its PB Ratio (3.3x) compared to the GB Trade Distributors industry average (1.9x).
Next Steps
Future Growth
How is Ashtead Group forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?
3.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AHT's forecast earnings growth (3.8% per year) is above the savings rate (1.2%).
Earnings vs Market: AHT's earnings (3.8% per year) are forecast to grow slower than the UK market (12.4% per year).
High Growth Earnings: AHT's earnings are forecast to grow, but not significantly.
Revenue vs Market: AHT's revenue (5.2% per year) is forecast to grow faster than the UK market (3.9% per year).
High Growth Revenue: AHT's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: AHT's Return on Equity is forecast to be high in 3 years time (29.6%)
Next Steps
Past Performance
How has Ashtead Group performed over the past 5 years?
27.5%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: AHT's earnings have grown significantly by 27.5% per year over the past 5 years.
Accelerating Growth: AHT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AHT had negative earnings growth (-20.8%) over the past year, making it difficult to compare to the Trade Distributors industry average (3.4%).
Return on Equity
High ROE: Whilst AHT's Return on Equity (26.68%) is high, this metric is skewed due to their high level of debt.
Return on Assets
ROA vs Industry: AHT has a higher Return on Assets than the Trade Distributors industry average last year.
Return on Capital Employed
ROCE Improving: AHT's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Ashtead Group's financial position?
Financial Position Analysis
Short Term Liabilities: AHT's short term assets (£1.1B) exceeds its short term liabilities (£957.4M)
Long Term Liabilities: AHT's short term assets (1.1B) do not cover its long term liabilities (6.3B)
Debt to Equity History and Analysis
Debt Level: AHT's debt to equity ratio (137.3%) is considered high
Reducing Debt: AHT's debt to equity ratio has reduced from 148.2% to 137.3% over the past 5 years.
Debt Coverage: AHT's debt is not well covered by operating cash flow (15.9%).
Interest Coverage: AHT's interest payments on its debt are well covered by EBIT (7.2x coverage).
Balance Sheet
Inventory Level: AHT has a low level of unsold assets or inventory.
Debt Coverage by Assets: AHT's debt is not covered by short term assets (assets are 0.3x debt).
Next Steps
Dividend
What is Ashtead Group's current dividend yield, its reliability and sustainability?
1.82%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: AHT's dividend (1.82%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.99%).
High Dividend: AHT's dividend (1.82%) is low compared to the top 25% of dividend payers in the UK market (5.37%).
Stable Dividend: AHT's dividends per share have been stable in the past 10 years.
Growing Dividend: AHT's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (23.3%), AHT's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: AHT's dividends in 3 years are forecast to be well covered by earnings (21.3% payout ratio).
Next Steps
Management
What is the CEO of Ashtead Group's salary, the management and board of directors tenure and is there insider trading?
0.4yrs
Average management tenure
CEO
Brendan Horgan (45yo)
0.4yrs
Tenure
UK£4,022,000
Compensation
Mr. Brendan Horgan has been Chief Executive Officer of Ashtead Group plc since May 1, 2019. Mr. Horgan served as the Group Chief Operating Officer of Ashtead Group plc since January 1, 2018 until May 1, 20 ...
CEO Compensation Analysis
Compensation vs. Market: Brendan has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the UK market.
Compensation vs Earnings: Brendan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
0.4yrs
Average Tenure
55yo
Average Age
Experienced Management: AHT's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.
Board Age and Tenure
1.5yrs
Average Tenure
56yo
Average Age
Experienced Board: AHT's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Executive Officer CEO & Executive Director |
| Shares | 46,792 |
| Max Price | UK£23.20 |
| Entity | Individual |
| Role | Member of the Board of Directors Group Finance Director |
| Shares | 16,448 |
| Max Price | UK£23.20 |
| Entity | Individual |
| Role | Chairman of the Board Non-Executive Chairman |
| Shares | 14,000 |
| Max Price | UK£21.63 |
| Entity | Individual |
| Role | Lead Director Senior Independent Non-Executive Director |
| Shares | 1,000 |
| Max Price | UK£21.60 |
| Entity | Individual |
| Shares | 13,933 |
| Max Price | UK£17.94 |
Ownership Breakdown
Management Team
Geoff Drabble (60yo)
Executive Officer
- Tenure: 0.4yrs
- Compensation: UK£5.62m
Rob Phillips
Chief Executive of Ashtead Technology Rentals
- Tenure: 0yrs
Brendan Horgan (45yo)
CEO & Executive Director
- Tenure: 0.4yrs
- Compensation: UK£4.02m
Eric Watkins
General Counsel & Secretary
- Tenure: 0yrs
Michael Pratt (55yo)
Group Finance Director
- Tenure: 1.5yrs
- Compensation: UK£1.41m
Will Shaw
Director of Investor Relations
- Tenure: 0yrs
Board Members
Paul Walker (62yo)
Non-Executive Chairman
- Tenure: 1.1yrs
- Compensation: UK£292.00k
Tanya Fratto (58yo)
Independent Non-Executive Director
- Tenure: 3.3yrs
- Compensation: UK£83.00k
Angus Cockburn (56yo)
Senior Independent Non-Executive Director
- Tenure: 0.8yrs
- Compensation: UK£47.00k
Brendan Horgan (45yo)
CEO & Executive Director
- Tenure: 0.4yrs
- Compensation: UK£4.02m
Michael Pratt (55yo)
Group Finance Director
- Tenure: 1.5yrs
- Compensation: UK£1.41m
Lucinda Riches (57yo)
Independent Non-Executive Director
- Tenure: 3.3yrs
- Compensation: UK£75.00k
Lindsley Ruth (48yo)
Independent Non-Executive Director
- Tenure: 0.4yrs
Company Information
Ashtead Group plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Ashtead Group plc
- Ticker: AHT
- Exchange: LSE
- Founded: 1984
- Industry: Trading Companies and Distributors
- Sector: Capital Goods
- Market Cap: UK£10.015b
- Shares outstanding: 456.88m
- Website: https://www.ashtead-group.com
Number of Employees
Location
- Ashtead Group plc
- 100 Cheapside
- London
- Greater London
- EC2V 6DT
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| ASHT.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| AHT | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
| 0LC | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| AHTL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
| ASHT.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Apr 2011 |
Biography
Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It provides equipment for use in lifting, powering, generation, moving, digging, compacting, drill ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/21 20:33 |
| End of Day Share Price | 2019/10/21 00:00 |
| Earnings | 2019/07/31 |
| Annual Earnings | 2019/04/30 |
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.