Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£154, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 26x in the Machinery industry in the United Kingdom. Total returns to shareholders of 280% over the past three years. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to UK£113, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 23x in the Machinery industry in the United Kingdom. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 44% After last week's 44% share price decline to UK£140, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 22x in the Machinery industry in the United Kingdom. Total returns to shareholders of 310% over the past three years. New Risk • Mar 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 12
Upcoming dividend of UK£1.40 per share Eligible shareholders must have bought the stock before 19 March 2026. Payment date: 10 April 2026. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (2.0%). Buy Or Sell Opportunity • Feb 20
Now 21% undervalued Over the last 90 days, the stock has risen 29% to UK£251. The fair value is estimated to be UK£318, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 31%. Buy Or Sell Opportunity • Jan 29
Now 21% undervalued Over the last 90 days, the stock has risen 15% to UK£250. The fair value is estimated to be UK£314, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 31%. Reported Earnings • Dec 17
First half 2026 earnings released: EPS: UK£3.52 (vs UK£1.51 in 1H 2025) First half 2026 results: EPS: UK£3.52 (up from UK£1.51 in 1H 2025). Revenue: UK£135.6m (up 28% from 1H 2025). Net income: UK£26.4m (up 133% from 1H 2025). Profit margin: 20% (up from 11% in 1H 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 16
Goodwin PLC to Report First Half, 2026 Results on Dec 16, 2025 Goodwin PLC announced that they will report first half, 2026 results on Dec 16, 2025 Declared Dividend • Nov 22
Dividend of UK£1.40 announced Shareholders will receive a dividend of UK£1.40. Ex-date: 19th March 2026 Payment date: 10th April 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Nov 20
Board Member recently sold UK£4.4m worth of stock On the 14th of November, Matthew Goodwin sold around 23k shares on-market at roughly UK£190 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£19m more than they bought in the last 12 months. Buy Or Sell Opportunity • Nov 04
Now 21% undervalued Over the last 90 days, the stock has risen 139% to UK£227. The fair value is estimated to be UK£287, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 17%. Upcoming Dividend • Oct 30
Upcoming dividend of UK£5.32 per share Eligible shareholders must have bought the stock before 06 November 2025. Payment date: 21 November 2025. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to UK£208, the stock trades at a trailing P/E ratio of 63.6x. Average trailing P/E is 24x in the Machinery industry in the United Kingdom. Total returns to shareholders of 617% over the past three years. Declared Dividend • Oct 05
Dividend of UK£1.40 announced Shareholders will receive a dividend of UK£1.40. Ex-date: 19th March 2026 Payment date: 10th April 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Sep 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to UK£134, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 23x in the Machinery industry in the United Kingdom. Total returns to shareholders of 413% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£111, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 23x in the Machinery industry in the United Kingdom. Total returns to shareholders of 334% over the past three years. Upcoming Dividend • Sep 04
Upcoming dividend of UK£1.40 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 03 October 2025. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.3%). Declared Dividend • Aug 01
Final dividend of UK£1.40 announced Shareholders will receive a dividend of UK£1.40. Ex-date: 11th September 2025 Payment date: 3rd October 2025 Dividend yield will be 2.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 31
Full year 2025 earnings released: EPS: UK£3.27 (vs UK£2.25 in FY 2024) Full year 2025 results: EPS: UK£3.27 (up from UK£2.25 in FY 2024). Revenue: UK£219.7m (up 15% from FY 2024). Net income: UK£24.6m (up 45% from FY 2024). Profit margin: 11% (up from 8.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 31
Goodwin PLC Proposes Dividend for the Year Ended April 30, 2025, Payable on or Around 10th April, 2026 and on or Around 20th March 2026 Goodwin PLC proposes a dividend of 280 pence (2024: 133 pence) per share, an 111% increase subject to shareholder approval of the proposed dividend at the forthcoming Annual General Meeting on 1st October,2025. A final dividend of 280 pence per share, (2024: 133 pence)will be paid in equal instalments of 140 pence per share on 3rd October, 2025 and on or around 10th April, 2026 to shareholders on the register on 12th September, 2025 and on or around 20th March, 2026 respectively. New Risk • Jul 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company. Announcement • Mar 19
Goodwin PLC Announces Second and Final Dividend for the Year Ending April 30, 2024, Payable on April 11, 2025 Goodwin PLC announced with respect to dividend payments, re-confirmed that the second and final instalment of 66.5 pence per share for the year ending 30th April 2024, approved at last Annual General Meeting on 2nd October 2024, will be paid on 11th April 2025 to shareholders registered on 21st March 2025. Upcoming Dividend • Mar 13
Upcoming dividend of UK£0.67 per share Eligible shareholders must have bought the stock before 20 March 2025. Payment date: 11 April 2025. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Feb 21
Insider recently bought UK£283k worth of stock On the 17th of February, John Goodwin bought around 4k shares on-market at roughly UK£70.30 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£1.3m more in shares than they have sold in the last 12 months. Reported Earnings • Dec 19
First half 2025 earnings released: EPS: UK£1.51 (vs UK£1.16 in 1H 2024) First half 2025 results: EPS: UK£1.51 (up from UK£1.16 in 1H 2024). Revenue: UK£106.4m (up 9.0% from 1H 2024). Net income: UK£11.3m (up 30% from 1H 2024). Profit margin: 11% (up from 8.9% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 25
Goodwin PLC Appoints Christine Mcnamara as Non-Executive Director with Effect from the October 2, 2024 To further support the growth of Goodwin PLC, it is a pleasure to announced the appointment of Christine McNamara as a Non-Executive Director with effect from the 2nd October 2024 following the Annual General Meeting. Christine comes with an extensive and varied career within the energy and power sector. As a qualified accountant she has held multiple FD/CFO roles within large corporates, including Powergen, National Grid PLC and BG Group plc (purchased by Shell plc in 2016). In addition to sitting on multiple boards and committees, Christine's executive career has been hands on with her having spent over 17 years overseas growing regional businesses in Asia and the Middle East. Christine's responsibilities during her 25 years' experience have included financial strategy, business performance, governance, audit and risk management. Declared Dividend • Sep 13
Dividend of UK£0.67 announced Shareholders will receive a dividend of UK£0.67. Ex-date: 20th March 2025 Payment date: 11th April 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (103% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 05
Upcoming dividend of UK£0.67 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 04 October 2024. Payout ratio is a comfortable 59% and the cash payout ratio is 89%. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (2.3%). Reported Earnings • Aug 26
Full year 2024 earnings released: EPS: UK£2.25 (vs UK£2.07 in FY 2023) Full year 2024 results: EPS: UK£2.25 (up from UK£2.07 in FY 2023). Revenue: UK£191.3m (up 3.0% from FY 2023). Net income: UK£16.9m (up 6.3% from FY 2023). Profit margin: 8.8% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 09
Final dividend of UK£0.67 announced Shareholders will receive a dividend of UK£0.67. Ex-date: 12th September 2024 Payment date: 4th October 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but not covered by cash flows (103% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
Full year 2024 earnings released: EPS: UK£2.25 (vs UK£2.07 in FY 2023) Full year 2024 results: EPS: UK£2.25 (up from UK£2.07 in FY 2023). Revenue: UK£191.3m (up 3.0% from FY 2023). Net income: UK£16.9m (up 6.3% from FY 2023). Profit margin: 8.8% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 08
Goodwin PLC, Annual General Meeting, Oct 02, 2024 Goodwin PLC, Annual General Meeting, Oct 02, 2024. Location: crewe hall, weston road, crewe, cheshire, cw1 6uz, United Kingdom New Risk • Jul 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported October 2023 fiscal period end). Share price has been volatile over the past 3 months (7.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£83.40, the stock trades at a trailing P/E ratio of 39.5x. Average trailing P/E is 20x in the Machinery industry in the United Kingdom. Total returns to shareholders of 214% over the past three years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£73.60, the stock trades at a trailing P/E ratio of 34.8x. Average trailing P/E is 20x in the Machinery industry in the United Kingdom. Total returns to shareholders of 169% over the past three years. Buy Or Sell Opportunity • Jun 14
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to UK£71.00. The fair value is estimated to be UK£56.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 17%. New Risk • May 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Apr 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to UK£66.80. The fair value is estimated to be UK£55.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 17%. Buy Or Sell Opportunity • Apr 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to UK£66.80. The fair value is estimated to be UK£55.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 17%. Recent Insider Transactions • Mar 31
Insider recently bought UK£290k worth of stock On the 28th of March, Richard Goodwin bought around 5k shares on-market at roughly UK£54.35 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£2.3m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£55.80, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 19x in the Machinery industry in the United Kingdom. Total returns to shareholders of 106% over the past three years. Upcoming Dividend • Mar 14
Upcoming dividend of UK£0.57 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 12 April 2024. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.1%). In line with average of industry peers (2.1%). Reported Earnings • Dec 21
First half 2024 earnings released: EPS: UK£1.16 (vs UK£1.14 in 1H 2023) First half 2024 results: EPS: UK£1.16. Revenue: UK£97.6m (up 9.2% from 1H 2023). Net income: UK£8.73m (flat on 1H 2023). Profit margin: 8.9% (in line with 1H 2023). Announcement • Dec 14
Goodwin PLC to Report First Half, 2024 Results on Dec 20, 2023 Goodwin PLC announced that they will report first half, 2024 results on Dec 20, 2023 Recent Insider Transactions • Oct 12
Executive Director recently sold UK£244k worth of stock On the 9th of October, Bernard Rafe Goodwin sold around 5k shares on-market at roughly UK£52.21 per share. This transaction amounted to 8.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought UK£1.4m more than they sold in the last 12 months. Upcoming Dividend • Sep 07
Upcoming dividend of UK£0.57 per share at 2.4% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 06 October 2023. Payout ratio is a comfortable 56% and the cash payout ratio is 99%. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (2.7%). Announcement • Aug 10
Goodwin plc Proposes Dividend for 2023, Payable on 6 October, 2023 and on or Around 12 April, 2024 Goodwin PLC proposed to pay a dividend of 115 pence per share, up 7% on the previous year (2022:107.80 p). The proposed dividend has been calculated using the Group's profit after taxation figure, plus depreciation and amortisation for the year ending 30th April, 2023, after having excluded the non-cash £3.2 million mark to market unrealised gain relating to the 10 year interest rate swap. The Board proposes to continue to smooth the Group's cash flow by splitting the payment of the proposed ordinary dividends of 115 pence per share into equal instalments of 57.5 pence per share on 6th October, 2023 and on or around 12th April, 2024 to shareholders on the register on 15th September, 2023 and on or around 22nd March, 2024 respectively. Reported Earnings • Aug 09
Full year 2023 earnings released: EPS: UK£2.07 (vs UK£1.69 in FY 2022) Full year 2023 results: EPS: UK£2.07 (up from UK£1.69 in FY 2022). Revenue: UK£185.7m (up 29% from FY 2022). Net income: UK£15.9m (up 23% from FY 2022). Profit margin: 8.6% (down from 9.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
Goodwin PLC to Report Fiscal Year 2024 Results on Apr 30, 2024 Goodwin PLC announced that they will report fiscal year 2024 results on Apr 30, 2024 New Risk • Jun 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended October 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported October 2022 fiscal period end). Paying a dividend despite having no free cash flows. Recent Insider Transactions • Jun 06
Insider recently bought UK£633k worth of stock On the 31st of May, Richard Goodwin bought around 14k shares on-market at roughly UK£46.15 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£207k more in shares than they have sold in the last 12 months. Announcement • May 06
Goodwin PLC (LSE:GDWN) announces an Equity Buyback for 180,000 shares, representing 2.34% for £8.64 million. Goodwin PLC (LSE:GDWN) announces a share repurchase program. Under the offer, the company will repurchase up to 180,000 shares, representing 2.34% of its share capital. The shares will be repurchased at a purchase price of £48 per share. The shares repurchased will be cancelled. The company has fixed May 30, 2023, as the record date for the offer. The offer is subject to shareholder approval at the General Meeting to be held on May 30, 2023. The offer will expire on May 31, 2023. As of May 4, 2023, the company had 7,689,600 shares in issue. Upcoming Dividend • Mar 16
Upcoming dividend of UK£0.54 per share at 3.0% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 12 April 2023. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (2.7%). Recent Insider Transactions • Jan 12
Board Member recently bought UK£119k worth of stock On the 6th of January, Simon Goodwin bought around 3k shares on-market at roughly UK£37.50 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£1.5m more in shares than they bought in the last 12 months. Announcement • Dec 22
Goodwin PLC, Annual General Meeting, Oct 05, 2023 Goodwin PLC, Annual General Meeting, Oct 05, 2023. Reported Earnings • Dec 21
First half 2023 earnings released: EPS: UK£1.14 (vs UK£0.72 in 1H 2022) First half 2023 results: EPS: UK£1.14 (up from UK£0.72 in 1H 2022). Revenue: UK£89.3m (up 30% from 1H 2022). Net income: UK£8.76m (up 58% from 1H 2022). Profit margin: 9.8% (up from 8.1% in 1H 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non Executive Director Jennifer Kelly was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 08
Upcoming dividend of UK£0.54 per share Eligible shareholders must have bought the stock before 15 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.3%). Reported Earnings • Aug 04
Full year 2022 earnings released: EPS: UK£1.69 (vs UK£1.68 in FY 2021) Full year 2022 results: EPS: UK£1.69 (up from UK£1.68 in FY 2021). Revenue: UK£144.1m (up 9.8% from FY 2021). Net income: UK£13.0m (up 3.9% from FY 2021). Profit margin: 9.0% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 18% share price decline to UK£25.20, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 17x in the Machinery industry in the United Kingdom. Total loss to shareholders of 20% over the past three years. Buying Opportunity • May 20
Now 23% undervalued Over the last 90 days, the stock is up 4.0%. The fair value is estimated to be UK£42.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.2%. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 1 independent director (6 non-independent directors). Independent Non Executive Director Jennifer Kelly was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Apr 09
Executive Director recently bought UK£99k worth of stock On the 4th of April, Bernard Rafe Goodwin bought around 3k shares on-market at roughly UK£33.67 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold UK£1.1m more in shares than they bought in the last 12 months. Buying Opportunity • Feb 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be UK£40.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.2% per annum over the last 3 years. 
