Ashtead Group
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Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. The last earnings update was 50 days ago. More info.
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AHT Share Price and Events
7 Day Returns
1 Year Returns
AHT Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Ashtead Group (AHT) | 1.2% | 18.6% | 14.2% | 7.9% | 134.4% | 147.9% |
| GB Trade Distributors | -0.5% | 5.2% | 8.2% | 2.6% | 33.6% | 52.4% |
| GB Market | 1.5% | 5.2% | 9.7% | 2.1% | 17.8% | 6.8% |
1 Year Return vs Industry and Market
- AHT outperformed the Trade Distributors industry which returned 2.6% over the past year.
- AHT outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Value
Is Ashtead Group 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
Ashtead Group
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Ashtead Group.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 15 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.9% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year GB Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 6.7% |
| Trade Distributors Unlevered Beta | Simply Wall St/ S&P Global | 0.95 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.946 (1 + (1- 19%) (36.89%)) |
1.153 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.15 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.153 * 6.65%) |
8.9% |
Discounted Cash Flow Calculation for LSE:AHT using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Ashtead Group 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.
| Levered FCF (GBP, Millions) | Source |
Present Value Discounted (@ 8.9%) |
|
|---|---|---|---|
| 2019 | 347.57 | Analyst x6 | 319.17 |
| 2020 | 639.17 | Analyst x7 | 539.00 |
| 2021 | 1,029.90 | Analyst x9 | 797.53 |
| 2022 | 1,371.45 | Est @ 33.16% | 975.24 |
| 2023 | 1,694.87 | Est @ 23.58% | 1,106.76 |
| 2024 | 1,980.89 | Est @ 16.88% | 1,187.85 |
| 2025 | 2,222.19 | Est @ 12.18% | 1,223.68 |
| 2026 | 2,419.85 | Est @ 8.89% | 1,223.65 |
| 2027 | 2,579.43 | Est @ 6.59% | 1,197.78 |
| 2028 | 2,707.99 | Est @ 4.98% | 1,154.74 |
| Present value of next 10 years cash flows | £9,725.40 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £2,707.99 × (1 + 1.23%) ÷ (8.9% – 1.23%) |
£35,739.13 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £35,739.13 ÷ (1 + 8.9%)10 |
£15,239.87 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £9,725.40 + £15,239.87 |
£24,965.27 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £24,965.27 / 467.82 |
£53.37 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £53.37 |
| Current discount | Discount to share price of
£21.68
= -1 x (£21.68 - £53.37) / £53.37 |
59.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Ashtead Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Ashtead Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Ashtead Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Ashtead Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-01-31) in GBP | £1.53 |
| LSE:AHT Share Price ** | LSE (2019-04-24) in GBP | £21.68 |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry PE Ratio | Median Figure of 16 Publicly-Listed Trade Distributors Companies | 16.21x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 797 Publicly-Listed Companies | 16.16x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Ashtead Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:AHT Share Price ÷ EPS (both in GBP) = 21.68 ÷ 1.53 |
14.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ashtead Group is good value based on earnings compared to the GB Trade Distributors industry average.
- Ashtead Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Ashtead Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.17x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts |
6%per year |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry PEG Ratio | Median Figure of 8 Publicly-Listed Trade Distributors Companies | 2.21x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 564 Publicly-Listed Companies | 1.49x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 14.17x ÷ 6% |
2.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ashtead Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Ashtead Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-01-31) in GBP | £5.88 |
| LSE:AHT Share Price * | LSE (2019-04-24) in GBP | £21.68 |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry PB Ratio | Median Figure of 20 Publicly-Listed Trade Distributors Companies | 1.76x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,367 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:AHT Share Price ÷ Book Value per Share (both in GBP) = 21.68 ÷ 5.88 |
3.69x |
* Primary Listing of Ashtead Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Ashtead Group is overvalued based on assets compared to the GB Trade Distributors industry average.
Value checks
We assess Ashtead Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check) Ashtead Group has a total score of 4/6, 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
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!
Earnings growth vs Low Risk Savings
- Ashtead Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Ashtead Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
- Ashtead Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:AHT Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts | 6% |
| LSE:AHT Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts | 7% |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry Earnings Growth Rate | Market Cap Weighted Average | 10.3% |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry Revenue Growth Rate | Market Cap Weighted Average | 5% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-04-30 | 4,881 | 1,008 | 1 | |
| 2021-04-30 | 5,156 | 2,321 | 856 | 11 |
| 2020-04-30 | 4,896 | 2,218 | 882 | 15 |
| 2019-04-30 | 4,421 | 1,987 | 795 | 14 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-01-31 | 4,285 | 445 | 742 |
| 2018-10-31 | 4,057 | 522 | 1,109 |
| 2018-07-31 | 3,873 | 512 | 1,029 |
| 2018-04-30 | 3,706 | 519 | 969 |
| 2018-01-31 | 3,646 | 560 | 989 |
| 2017-10-31 | 3,534 | 496 | 550 |
| 2017-07-31 | 3,360 | 531 | 534 |
| 2017-04-30 | 3,187 | 425 | 501 |
| 2017-01-31 | 3,022 | 289 | 483 |
| 2016-10-31 | 2,830 | 214 | 460 |
| 2016-07-31 | 2,634 | 124 | 423 |
| 2016-04-30 | 2,546 | 33 | 408 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
All data from Ashtead Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-04-30 | ||||
| 2021-04-30 | 1.91 | 2.21 | 1.58 | 4.00 |
| 2020-04-30 | 1.91 | 2.03 | 1.77 | 5.00 |
| 2019-04-30 | 1.64 | 1.70 | 1.60 | 5.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2019-01-31 | 1.53 |
| 2018-10-31 | 2.26 |
| 2018-07-31 | 2.08 |
| 2018-04-30 | 1.95 |
| 2018-01-31 | 1.99 |
| 2017-10-31 | 1.11 |
| 2017-07-31 | 1.07 |
| 2017-04-30 | 1.00 |
| 2017-01-31 | 0.97 |
| 2016-10-31 | 0.92 |
| 2016-07-31 | 0.84 |
| 2016-04-30 | 0.81 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Ashtead Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- 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)
- 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)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Ashtead Group has a total score of 3/6, 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 Ashtead Group 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
Past Earnings growth analysis
- Ashtead Group has delivered over 20% year on year earnings growth in the past 5 years.
- Ashtead Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Ashtead Group's 1-year earnings growth is negative, it can't be compared to the GB Trade Distributors industry average.
Earnings and Revenue History
All data from Ashtead Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-01-31 | 4,284.60 | 742.30 | 1,090.10 | |
| 2018-10-31 | 4,057.30 | 1,109.40 | 1,038.50 | |
| 2018-07-31 | 3,873.30 | 1,028.70 | 1,002.80 | |
| 2018-04-30 | 3,706.00 | 968.80 | 971.80 | |
| 2018-01-31 | 3,645.80 | 989.10 | 949.80 | |
| 2017-10-31 | 3,534.20 | 550.40 | 917.90 | |
| 2017-07-31 | 3,359.80 | 533.80 | 874.10 | |
| 2017-04-30 | 3,186.80 | 501.00 | 831.00 | |
| 2017-01-31 | 3,022.20 | 483.00 | 791.70 | |
| 2016-10-31 | 2,829.90 | 460.20 | 742.30 | |
| 2016-07-31 | 2,634.20 | 423.00 | 697.70 | |
| 2016-04-30 | 2,545.70 | 407.60 | 667.40 | |
| 2016-01-31 | 2,418.40 | 372.90 | 638.00 | |
| 2015-10-31 | 2,319.10 | 356.70 | 612.10 | |
| 2015-07-31 | 2,199.60 | 330.50 | 580.90 | |
| 2015-04-30 | 2,038.90 | 303.40 | 545.00 | |
| 2015-01-31 | 1,885.10 | 287.60 | 505.50 | |
| 2014-10-31 | 1,772.30 | 266.10 | 482.70 | |
| 2014-07-31 | 1,682.10 | 245.20 | 472.00 | |
| 2014-04-30 | 1,634.70 | 231.20 | 467.70 | |
| 2014-01-31 | 1,597.40 | 213.30 | 464.30 | |
| 2013-10-31 | 1,531.20 | 197.90 | 451.20 | |
| 2013-07-31 | 1,447.40 | 176.20 | 431.30 | |
| 2013-04-30 | 1,361.90 | 137.80 | 412.90 | |
| 2013-01-31 | 1,302.10 | 127.50 | 399.60 | |
| 2012-10-31 | 1,239.50 | 106.90 | 392.70 | |
| 2012-07-31 | 1,191.00 | 90.10 | 387.40 | |
| 2012-04-30 | 1,134.60 | 88.50 | 379.80 |
*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.
- Whilst Ashtead Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Ashtead Group used its assets more efficiently than the GB Trade Distributors industry average last year based on Return on Assets.
- Ashtead Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Ashtead Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Ashtead Group has a total score of 3/6, 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 Ashtead Group'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 Ashtead Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Ashtead Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Ashtead Group's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.3x 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.
All data from Ashtead Group Company Filings, last reported 2 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-01-31 | 2,786.70 | 3,741.50 | 16.70 |
| 2018-10-31 | 2,797.60 | 3,635.00 | 23.30 |
| 2018-07-31 | 2,735.40 | 3,043.50 | 10.10 |
| 2018-04-30 | 2,526.90 | 2,731.10 | 19.10 |
| 2018-01-31 | 2,493.10 | 2,637.20 | 8.70 |
| 2017-10-31 | 2,131.30 | 2,862.60 | 11.70 |
| 2017-07-31 | 2,085.10 | 2,576.20 | 7.40 |
| 2017-04-30 | 1,970.10 | 2,534.00 | 6.30 |
| 2017-01-31 | 1,920.80 | 2,596.40 | 8.00 |
| 2016-10-31 | 1,855.60 | 2,704.70 | 10.20 |
| 2016-07-31 | 1,698.90 | 2,358.30 | 10.60 |
| 2016-04-30 | 1,480.40 | 2,014.70 | 13.00 |
| 2016-01-31 | 1,428.40 | 2,178.80 | 10.00 |
| 2015-10-31 | 1,255.30 | 1,986.90 | 5.30 |
| 2015-07-31 | 1,201.60 | 1,806.60 | 2.30 |
| 2015-04-30 | 1,111.50 | 1,697.60 | 10.50 |
| 2015-01-31 | 1,075.30 | 1,772.60 | 3.80 |
| 2014-10-31 | 960.90 | 1,578.10 | 6.90 |
| 2014-07-31 | 877.90 | 1,304.00 | 4.50 |
| 2014-04-30 | 824.40 | 1,151.40 | 2.80 |
| 2014-01-31 | 789.30 | 1,268.30 | 2.60 |
| 2013-10-31 | 742.50 | 1,231.30 | 1.50 |
| 2013-07-31 | 728.60 | 1,190.90 | 3.90 |
| 2013-04-30 | 682.50 | 1,034.40 | 20.30 |
| 2013-01-31 | 649.40 | 1,077.70 | 1.10 |
| 2012-10-31 | 607.10 | 1,070.00 | 1.30 |
| 2012-07-31 | 577.80 | 994.90 | 7.00 |
| 2012-04-30 | 554.70 | 877.70 | 23.40 |
- Ashtead Group's level of debt (134.3%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (160.4% vs 134.3% today).
- Debt is not well covered by operating cash flow (11.9%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
Financial health checks
We assess Ashtead Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Ashtead Group has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Ashtead Group'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
If you bought
£2,000 of
Ashtead Group
shares you are expected to receive
£30
in your first year as a dividend.
Dividend Amount
- Ashtead Group's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
- Ashtead Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
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.
| 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 15 Analyst Estimates (S&P Global) | See Below |
| United Kingdom of Great Britain and Northern Ireland Trade Distributors Industry Average Dividend Yield | Market Cap Weighted Average of 17 Stocks | 2.3% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 Stocks | 4.1% |
| 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 | 5.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in £) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-04-30 | ||
| 2021-04-30 | 0.46 | 13.00 |
| 2020-04-30 | 0.42 | 15.00 |
| 2019-04-30 | 0.38 | 14.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-07-20 | 0.330 | 1.651 |
| 2017-07-19 | 0.275 | 1.400 |
| 2016-07-19 | 0.225 | 1.534 |
| 2016-06-14 | 0.225 | 2.138 |
| 2015-06-16 | 0.153 | 1.591 |
| 2014-08-04 | 0.115 | 1.077 |
| 2013-06-20 | 0.075 | 0.983 |
| 2012-12-11 | 0.040 | 0.756 |
| 2012-06-21 | 0.035 | 1.130 |
| 2012-06-20 | 0.035 | 1.386 |
| 2011-12-08 | 0.031 | 1.295 |
| 2011-06-16 | 0.030 | 2.055 |
| 2011-06-15 | 0.030 | 1.733 |
| 2010-07-12 | 0.029 | 2.118 |
| 2010-06-17 | 0.029 | 2.934 |
| 2009-06-18 | 0.026 | 3.166 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Ashtead Group's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (4.5x coverage).
- Dividends after 3 years are expected to be well covered by earnings (4.9x coverage).
Income/ dividend checks
We assess Ashtead Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Ashtead Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Ashtead Group has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | £4,061,000 |
| AGE | 59 |
| TENURE AS CEO | 12.3 years |
CEO Bio
Mr. Geoffrey Drabble, also known as Geoff, B.Sc., FCA, has been the Chief Executive Officer of Ashtead Group PLC since January 1, 2007. Mr. Drabble serves as the Managing Director of Amesbury Group Inc. He joined Laird in 1997 as Managing Director of Laird Security Systems. He held senior management positions with Black & Decker. He has been Independent Non-Executive Director of Howden Joinery Group Plc since July 03, 2015. He has been a Non-Executive Director of Ashtead Group PLC. since April 2005. He served as an Executive Director of Laird PLC (known as Laird Group PLC.) since 2001.
CEO Compensation
- Geoff's compensation has been consistent with company performance over the past year.
- Geoff's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the Ashtead Group management team in years:
- The average tenure for the Ashtead Group management team is less than 2 years, this suggests a new team.
Management Team
Geoff Drabble
CEO & Director
£4M
59
12.3 yrs
Michael Pratt
Group Finance Director
£501K
54
1 yrs
Brendan Horgan
Group COO & Executive Director
£2M
45
1.3 yrs
Suzanne Wood
Executive Officer
£2M
57
1.1 yrs
Will Shaw
Director of Investor Relations
Eric Watkins
General Counsel & Secretary
Rob Phillips
Chief Executive of Ashtead Technology Rentals
Board of Directors Tenure
Average tenure and age of the Ashtead Group board of directors in years:
- The average tenure for the Ashtead Group board of directors is less than 3 years, this suggests a new board.
Board of Directors
Paul Walker
Chairman
61
0.6 yrs
Geoff Drabble
CEO & Director
£4M
59
14 yrs
Michael Pratt
Group Finance Director
£501K
54
1 yrs
Brendan Horgan
Group COO & Executive Director
£2M
45
8.3 yrs
Lucinda Riches
Independent Non-Executive Director
£65K
56
2.8 yrs
Angus Cockburn
Senior Independent Non-Executive Director
55
0.3 yrs
Tanya Fratto
Independent Non-Executive Director
£98K
57
2.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 26. Oct 18 | Buy | Ian Sutcliffe | Individual | 26. Oct 18 | 26. Oct 18 | 13,933 | £17.94 | £249,958 | ||
| 13. Aug 18 | Sell | Ian Sutcliffe | Individual | 10. Aug 18 | 10. Aug 18 | -24,500 | £23.89 | £-585,305 | ||
| 28. Jun 18 | Buy | Tanya Fratto | Individual | 27. Jun 18 | 27. Jun 18 | 1,000 | £22.54 | £22,540 | ||
| 04. May 18 | Sell | Wayne Edmunds | Individual | 04. May 18 | 04. May 18 | -7,000 | £20.90 | £-146,300 | ||
| 04. May 18 | Buy | Wayne Edmunds | Individual | 03. May 18 | 03. May 18 | 14,260 | £20.59 | £293,613 | ||
| 27. Apr 18 | Sell | Christopher Cole | Individual | 26. Apr 18 | 26. Apr 18 | -40,000 | £20.40 | £-816,000 | ||
Management checks
We assess Ashtead Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Ashtead Group 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
Have Insiders Been Selling Ashtead Group plc (LON:AHT) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Ashtead Group plc (LON:AHT). … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. … Over the last year we saw more insider selling of Ashtead Group shares, than buying
Simply Wall St - – Full articleA Look At Ashtead Group plc's (LON:AHT) Exceptional Fundamentals
I've been keeping an eye on Ashtead Group plc (LON:AHT) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe AHT has a lot to offer. … that has been a rockstar for income investors, currently trading at an attractive share price
Simply Wall St - – Full articleWhy Ashtead Group plc's (LON:AHT) CEO Pay Matters To You
At the time of writing our data says that Ashtead Group plc has a market cap of UK£8.5b, and is paying total annual CEO compensation of UK£4.1m. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at UK£789k. … When we examined a group of companies with market caps over UK£6.1b, we found that their median CEO total compensation was UK£3.8m
Simply Wall St - – Full articleIs Ashtead Group plc (LON:AHT) A Great Dividend Stock?
Historically, Ashtead Group plc (LON:AHT) has paid dividends to shareholders, and these days it yields 1.7%. … Does Ashtead Group tick all the boxes of a great dividend stock? … Check out our latest analysis for Ashtead Group
Simply Wall St - – Full articleWhat does Ashtead Group plc's (LON:AHT) Balance Sheet Tell Us About Its Future?
Investors pursuing a solid, dependable stock investment can often be led to Ashtead Group plc (LON:AHT), a large-cap worth UK£9.4b. … This article will examine Ashtead Group’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … View our latest analysis for Ashtead Group
Simply Wall St - – Full articleAt UK£20.33, Is It Time To Put Ashtead Group plc (LON:AHT) On Your Watch List?
Help shape the future of investing tools and you could win a $250 gift card! … led the LSE gainers with a relatively large price hike in the past couple of weeks … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock.
Simply Wall St - – Full articleShould We Be Delighted With Ashtead Group plc's (LON:AHT) ROE Of 40%?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.40 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleEstimating The Fair Value Of Ashtead Group plc (LON:AHT)
by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleIncome Investors Should Know The Ashtead Group plc (LON:AHT) Ex-Dividend Date
Important news for shareholders and potential investors in Ashtead Group plc (LON:AHT): The dividend payment of UK£0.065 per share will be distributed to shareholders on 06 February 2019, and the stock will begin trading ex-dividend at an earlier date, 17 January 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Ashtead Group's latest financial data to analyse its dividend characteristics. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?
Simply Wall St - – Full articleIs Ashtead Group plc's (LON:AHT) P/E Ratio Really That Good?
We'll look at Ashtead Group plc's (LON:AHT) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Ashtead Group's P/E ratio is 7.32. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleCompany Info
Description
Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities. It also offers disaster relief equipment, such as pumps and power generation equipment for various applications, such as assisting at times of flooding due to weather and burst water supply; power generation, lighting, and other equipment for super bowl events, sporting events, music concerts, and festivals; and climate control equipment, including cooling, heating, and dehumidification equipment to the construction, commercial, industrial, and events markets. In addition, the company rents and installs scaffolding solutions for access to new or existing structures; and offers portable traffic systems to facilitate engineering projects or clean-up after an accident. It serves construction, industrial, and homeowner customers, as well as government entities and specialist contractors. The company offers its equipment under the Sunbelt Rentals and A-Plant brands through 658 stores in 47 states in the United States; 54 stores in Canada; and 187 stores in the United Kingdom. Ashtead Group plc was founded in 1984 and is headquartered in London, the United Kingdom.
Details
| Name: | Ashtead Group plc |
| AHT | |
| Exchange: | LSE |
| Founded: | 1984 |
| £10,142,350,673 | |
| 467,820,603 | |
| Website: | http://www.ashtead-group.com |
| Address: |
Ashtead Group plc 100 Cheapside, London, Greater London, EC2V 6DT, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | AHT | Ordinary Shares | London Stock Exchange | GB | GBP | 01. Jan 1992 | |
| OTCPK | ASHT.F | Ordinary Shares | Pink Sheets LLC | US | USD | 01. Jan 1992 | |
| DB | 0LC | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 01. Jan 1992 | |
| BATS-CHIXE | AHTL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 01. Jan 1992 | |
| OTCPK | ASHT.Y | UNSPONSORED ADR | Pink Sheets LLC | US | USD | 25. Apr 2011 |
Number of employees
Current staff
Industry
| Trading Companies and Distributors | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/24 20:34 |
| End of day share price update: | 2019/04/24 00:00 |
| Last estimates confirmation: | 2019/04/18 |
| Last earnings filing: | 2019/03/05 |
| Last earnings reported: | 2019/01/31 |
| Last annual earnings reported: | 2018/04/30 |
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.
