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Begbies Traynor Group

AIM:BEG
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BEG
AIM
£92M
Market Cap
  1. Home
  2. GB
  3. Commercial Services
Company description

Begbies Traynor Group plc provides various professional services to businesses, professional advisors, other stakeholders, and investors and financial institutions in the United Kingdom. The last earnings update was 14 days ago. More info.


Add to Portfolio Compare Print
  • Begbies Traynor Group has significant price volatility in the past 3 months.
BEG Share Price and Events
7 Day Returns
-4.2%
AIM:BEG
0.2%
GB Professional Services
-0%
GB Market
1 Year Returns
14.3%
AIM:BEG
9.1%
GB Professional Services
-1.7%
GB Market
BEG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Begbies Traynor Group (BEG) -4.2% 6.6% 32% 14.3% 73.1% 49.8%
GB Professional Services 0.2% -0.2% 8.9% 9.1% 44.5% 95.4%
GB Market -0% 1.4% -0.4% -1.7% 11.3% 6.7%
1 Year Return vs Industry and Market
  • BEG outperformed the Professional Services industry which returned 9.1% over the past year.
  • BEG outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -1.7% over the past year.
Price Volatility
BEG
Industry
5yr Volatility vs Market

Value

 Is Begbies Traynor 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 Begbies Traynor 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Begbies Traynor Group.

AIM:BEG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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.

Calculation of Discount Rate/ Cost of Equity for AIM:BEG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 19%) (10.91%))
0.95
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.95 * 6.65%)
7.55%

Discounted Cash Flow Calculation for AIM:BEG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Begbies Traynor 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.

AIM:BEG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.55%)
2020 4.43 Analyst x1 4.12
2021 7.38 Analyst x1 6.38
2022 8.41 Analyst x1 6.76
2023 9.15 Est @ 8.85% 6.84
2024 9.75 Est @ 6.56% 6.78
2025 10.24 Est @ 4.96% 6.62
2026 10.63 Est @ 3.84% 6.39
2027 10.95 Est @ 3.06% 6.12
2028 11.23 Est @ 2.51% 5.83
2029 11.47 Est @ 2.12% 5.54
Present value of next 10 years cash flows £61.37
AIM:BEG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £11.47 × (1 + 1.23%) ÷ (7.55% – 1.23%)
£183.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £183.68 ÷ (1 + 7.55%)10
£88.74
AIM:BEG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £61.37 + £88.74
£150.11
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £150.11 / 114.52
£1.31
AIM:BEG Discount to Share Price
Calculation Result
Value per share (GBP) From above. £1.31
Current discount Discount to share price of £0.81
= -1 x (£0.81 - £1.31) / £1.31
38.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Begbies Traynor Group is available for.
Intrinsic value
39%
Share price is £0.81 vs Future cash flow value of £1.31
Current Discount Checks
For Begbies Traynor Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Begbies Traynor Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Begbies Traynor Group's share price is below the future cash flow value, but not 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 Begbies Traynor Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Begbies Traynor Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:BEG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-04-30) in GBP £0.02
AIM:BEG Share Price ** AIM (2019-07-23) in GBP £0.81
United Kingdom of Great Britain and Northern Ireland Professional Services Industry PE Ratio Median Figure of 32 Publicly-Listed Professional Services Companies 19.54x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 792 Publicly-Listed Companies 16.27x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Begbies Traynor Group.

AIM:BEG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:BEG Share Price ÷ EPS (both in GBP)

= 0.81 ÷ 0.02

37.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Begbies Traynor Group is overvalued based on earnings compared to the GB Professional Services industry average.
  • Begbies Traynor Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Begbies Traynor Group's expected growth come at a high price?
Raw Data
AIM:BEG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 37.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
41.8%per year
United Kingdom of Great Britain and Northern Ireland Professional Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Professional Services Companies 1.51x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 571 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

AIM:BEG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 37.22x ÷ 41.8%

0.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Begbies Traynor Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Begbies Traynor Group's assets?
Raw Data
AIM:BEG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-04-30) in GBP £0.53
AIM:BEG Share Price * AIM (2019-07-23) in GBP £0.81
United Kingdom of Great Britain and Northern Ireland Professional Services Industry PB Ratio Median Figure of 44 Publicly-Listed Professional Services Companies 2.42x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,377 Publicly-Listed Companies 1.51x
AIM:BEG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:BEG Share Price ÷ Book Value per Share (both in GBP)

= 0.81 ÷ 0.53

1.52x

* Primary Listing of Begbies Traynor Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Begbies Traynor Group is good value based on assets compared to the GB Professional Services industry average.
X
Value checks
We assess Begbies Traynor Group's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check)
  5. Begbies Traynor Group has a total score of 3/6, 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

 How is Begbies Traynor Group expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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!
Annual Growth Rate
41.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Begbies Traynor Group expected to grow at an attractive rate?
  • Begbies Traynor Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Begbies Traynor Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Begbies Traynor Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:BEG Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:BEG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 41.8%
AIM:BEG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.8%
United Kingdom of Great Britain and Northern Ireland Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 10.2%
United Kingdom of Great Britain and Northern Ireland Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
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 4.7%

*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
Raw Data
AIM:BEG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:BEG Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-04-30 70 6 5 2
2021-04-30 68 6 4 2
2020-04-30 66 5 0 2
AIM:BEG Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-04-30 60 7 2
2019-01-31 57 6 2
2018-10-31 54 6 1
2018-07-31 53 7 1
2018-04-30 52 8 1
2017-10-31 51 9 0
2017-07-31 50 7 0
2017-04-30 50 6 0
2016-10-31 49 6 1
2016-07-31 50 6 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Begbies Traynor Group's earnings are expected to grow significantly at over 20% yearly.
  • Begbies Traynor Group's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:BEG 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 2 Analyst Estimates (S&P Global) See Below

All data from Begbies Traynor Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:BEG Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-04-30 0.06 0.06 0.06 1.00
2021-04-30 0.05 0.05 0.05 1.00
2020-04-30 0.00 0.00 0.00 1.00
AIM:BEG Past Financials Data
Date (Data in GBP Millions) EPS *
2019-04-30 0.02
2019-01-31 0.02
2018-10-31 0.01
2018-07-31 0.01
2018-04-30 0.01
2017-10-31 0.00
2017-07-31 0.00
2017-04-30 0.00
2016-10-31 0.01
2016-07-31 0.00

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Begbies Traynor Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Begbies Traynor Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. 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)
  3. 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)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Begbies Traynor Group has a total score of 4/6, 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 Begbies Traynor 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
Below we compare Begbies Traynor Group's growth in the last year to its industry (Professional Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Begbies Traynor Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Begbies Traynor Group's 1-year earnings growth exceeds its 5-year average (70.9% vs -0.8%)
  • Begbies Traynor Group's earnings growth has exceeded the GB Professional Services industry average in the past year (70.9% vs 12.2%).
Earnings and Revenue History
Begbies Traynor Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Begbies Traynor Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:BEG Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-04-30 60.06 2.43 22.16
2019-01-31 57.23 1.78 19.99
2018-10-31 54.41 1.13 17.82
2018-07-31 53.42 1.27 17.23
2018-04-30 52.44 1.42 16.64
2017-10-31 51.25 0.07 17.05
2017-07-31 50.47 0.14 16.69
2017-04-30 49.69 0.21 16.33
2016-10-31 49.11 0.57 17.66
2016-07-31 49.62 0.51 17.25
2016-04-30 50.14 0.45 16.84
2016-01-31 50.08 -0.42 17.05
2015-10-31 50.03 -1.30 17.25
2015-07-31 47.69 -0.95 16.54
2015-04-30 45.36 -0.60 15.83
2015-01-31 45.68 0.78 15.66
2014-10-31 43.47 2.71 14.07
2014-07-31 43.78 3.05 14.01
2014-04-30 44.09 3.38 13.95
2014-01-31 45.63 2.53 14.54
2013-10-31 46.39 1.84 14.72
2013-07-31 48.74 1.63 15.27
2013-04-30 51.09 1.42 15.82
2013-01-31 52.79 2.26 16.57
2012-10-31 54.48 3.10 17.33
2012-07-31 56.11 3.53 17.99

*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.
  • Begbies Traynor Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Begbies Traynor Group used its assets less efficiently than the GB Professional Services industry average last year based on Return on Assets.
  • Begbies Traynor Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Begbies Traynor Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Begbies Traynor 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 Begbies Traynor 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 Begbies Traynor Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Begbies Traynor Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Begbies Traynor Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Begbies Traynor Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.7x 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.
Raw Data

All data from Begbies Traynor Group Company Filings, last reported 2 months ago.

AIM:BEG Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-04-30 59.70 10.00 4.01
2019-01-31 59.70 10.00 4.01
2018-10-31 55.35 10.00 3.74
2018-07-31 55.35 10.00 3.74
2018-04-30 59.15 11.00 3.52
2017-10-31 56.45 15.00 8.07
2017-07-31 56.45 15.00 8.07
2017-04-30 58.10 17.00 6.72
2016-10-31 57.71 17.00 4.82
2016-07-31 57.71 17.00 4.82
2016-04-30 60.23 18.00 7.63
2016-01-31 60.23 18.00 7.63
2015-10-31 59.13 18.00 6.12
2015-07-31 59.13 18.00 6.12
2015-04-30 60.98 22.00 9.21
2015-01-31 60.98 22.00 9.21
2014-10-31 58.35 22.00 5.80
2014-07-31 58.35 22.00 5.80
2014-04-30 59.40 22.03 7.54
2014-01-31 59.40 22.03 7.54
2013-10-31 57.74 22.08 4.29
2013-07-31 57.74 22.08 4.29
2013-04-30 57.70 22.13 4.96
2013-01-31 57.70 22.13 4.96
2012-10-31 57.64 23.23 4.91
2012-07-31 57.64 23.23 4.91
  • Begbies Traynor Group's level of debt (16.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (37.1% vs 16.8% today).
  • Debt is well covered by operating cash flow (73.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.3x coverage).
X
Financial health checks
We assess Begbies Traynor Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Begbies Traynor Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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 Begbies Traynor 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
Dividend payments
3.23%
Current annual income from Begbies Traynor Group dividends. Estimated to be 3.73% next year.
If you bought £2,000 of Begbies Traynor Group shares you are expected to receive £65 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Begbies Traynor Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • Begbies Traynor Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.43%).
Upcoming dividend payment

Purchase Begbies Traynor Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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.
Raw Data
AIM:BEG Annualized Past and Future Dividends
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 2 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.1%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 Stocks 4.2%
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 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:BEG Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-04-30 0.03 2.00
2021-04-30 0.03 2.00
2020-04-30 0.03 2.00
AIM:BEG Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-07-09 0.026 3.220
2018-08-23 0.024 3.603
2018-07-10 0.024 3.449
2017-12-12 0.023 3.288
2017-08-29 0.022 3.338
2017-07-11 0.022 3.775
2016-08-26 0.022 4.491
2015-08-21 0.022 4.912
2015-07-14 0.022 5.055
2014-08-28 0.022 4.844
2014-07-09 0.022 4.273
2013-07-03 0.022 5.502
2012-12-12 0.022 6.469
2012-08-21 0.022 6.299
2012-07-05 0.022 6.498
2011-12-15 0.012 3.862
2011-07-07 0.022 7.474
2010-07-08 0.031 5.391
2009-07-09 0.028 3.224
2009-01-21 0.026 2.283

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Begbies Traynor Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Begbies Traynor Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Begbies Traynor Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Begbies Traynor Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Begbies Traynor Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Randall Homel
TENURE AS CEO 6.3 years
CEO Bio

Randall Homel has been the Chief Executive Officer of Begbies Traynor Group plc since March 29, 2013.

CEO Compensation
  • Insufficient data for Randall to compare compensation growth.
  • Insufficient data for Randall to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Begbies Traynor Group management team in years:

8.8
Average Tenure
51
Average Age
  • The average tenure for the Begbies Traynor Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ric Traynor

TITLE
Executive Chairman
COMPENSATION
£574K
AGE
59

Nick Taylor

TITLE
Group Finance Director & Executive Director
COMPENSATION
£296K
AGE
48
TENURE
8.6 yrs

Mark Fry

TITLE
Head of Insolvency & Restructuring
COMPENSATION
£685K
AGE
51

Randall Homel

TITLE
Chief Executive Officer
TENURE
6.3 yrs

Graeme Lipman

TITLE
Director of Business Rescue & Recovery and Corporate Finance
TENURE
1 yrs

Andrew Dunn

TITLE
Group Marketing & Business Development Partner
TENURE
11.3 yrs

Mike Saville

TITLE
Head of Caymen Islands Operations
TENURE
9.1 yrs

Ken Pattullo

TITLE
Regional Managing Partner

Julie Palmer

TITLE
Regional Managing Partner
TENURE
13.2 yrs

Julian Pitts

TITLE
Regional Managing Partner of North-East Region
Board of Directors Tenure

Average tenure and age of the Begbies Traynor Group board of directors in years:

8.6
Average Tenure
58
Average Age
  • The tenure for the Begbies Traynor Group board of directors is about average.
Board of Directors

Ric Traynor

TITLE
Executive Chairman
COMPENSATION
£574K
AGE
59
TENURE
15.2 yrs

Nick Taylor

TITLE
Group Finance Director & Executive Director
COMPENSATION
£296K
AGE
48
TENURE
8.6 yrs

Mark Fry

TITLE
Head of Insolvency & Restructuring
COMPENSATION
£685K
AGE
51
TENURE
8 yrs

Randolph McInnes

TITLE
Senior Independent Director
COMPENSATION
£40K
AGE
67

John May

TITLE
Non-Executive Director
COMPENSATION
£40K
AGE
64
TENURE
11.8 yrs

Mark Stupples

TITLE
Non-Executive Director
COMPENSATION
£32K
AGE
57
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Begbies Traynor Group individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
10. Jul 19 Buy John May Individual 09. Jul 19 09. Jul 19 32,462 £0.77 £24,993
X
Management checks
We assess Begbies Traynor Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Begbies Traynor 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

These 4 Measures Indicate That Begbies Traynor Group (LON:BEG) Is Using Debt Reasonably Well

We note that Begbies Traynor Group plc (LON:BEG) does have debt on its balance sheet. … Either way, since Begbies Traynor Group does have more debt than cash, it's worth keeping an eye on its balance sheet. … Our View Happily, Begbies Traynor Group's impressive conversion of EBIT to free cash flow implies it has the upper hand on its debt.

Simply Wall St -

Is Begbies Traynor Group plc (LON:BEG) A Good Dividend Stock?

Is Begbies Traynor Group plc (LON:BEG) a good dividend stock? How would you know? Dividend paying companies with growing earnings can be highly rewarding in the long term. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With Begbies Traynor Group yielding 3.2% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. It would not be a surprise to discover that many investors buy it for the dividends. Some simple analysis can reduce the risk of holding Begbies Traynor Group for its dividend, and we'll focus on the most important aspects below. Explore this interactive chart for our latest analysis on Begbies Traynor Group! AIM:BEG Historical Dividend Yield, June 26th 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, Begbies Traynor Group paid out 246% of its profit as dividends. A payout ratio above 100% is definitely an item of concern, unless there are some other circumstances that would justify it. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Begbies Traynor Group paid out a conservative 49% of its free cash flow as dividends last year. It's good to see that while Begbies Traynor Group's dividends were not covered by profits, at least they are affordable from a cash perspective. If executives were to continue paying more in dividends than the company reported in profits, we'd view this as a warning sign. Very few companies are able to sustainably pay dividends larger than their reported earnings. Is Begbies Traynor Group's Balance Sheet Risky? As Begbies Traynor Group's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … Begbies Traynor Group has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … We're not keen on the fact that Begbies Traynor Group paid out such a high percentage of its income, although its cashflow is in better shape.

Simply Wall St -

Is There An Opportunity With Begbies Traynor Group plc's (LON:BEG) 24% Undervaluation?

In this article we are going to estimate the intrinsic value of Begbies Traynor Group plc (LON:BEG) by taking the expected future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (£, Millions) £7.75 £5.02 £6.90 £7.08 £7.24 £7.38 £7.51 £7.62 £7.73 £7.84 Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x1 Est @ 2.63% Est @ 2.21% Est @ 1.92% Est @ 1.71% Est @ 1.56% Est @ 1.46% Est @ 1.39% Present Value (£, Millions) Discounted @ 7.57% £7.20 £4.34 £5.54 £5.29 £5.03 £4.76 £4.50 £4.25 £4.01 £3.78 Present Value of 10-year Cash Flow (PVCF)= £48.70m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … AIM:BEG Intrinsic value, June 10th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Should Begbies Traynor Group (LON:BEG) Be Disappointed With Their 56% Profit?

To wit, the Begbies Traynor Group share price has climbed 56% in five years, easily topping the market return of 1.3% (ignoring dividends). … During the five years of share price growth, Begbies Traynor Group moved from a loss to profitability. … A Different Perspective It's good to see that Begbies Traynor Group has rewarded shareholders with a total shareholder return of 1.5% in the last twelve months.

Simply Wall St -

Why Begbies Traynor Group plc’s (LON:BEG) Return On Capital Employed Looks Uninspiring

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Begbies Traynor Group: 0.053 = UK£3.8m ÷ (UK£93m - UK£22m) (Based on the trailing twelve months to October 2018.) Therefore, Begbies Traynor Group has an ROCE of 5.3%. … Do Begbies Traynor Group's Current Liabilities Skew Its ROCE? … Our Take On Begbies Traynor Group's ROCE If Begbies Traynor Group continues to earn an uninspiring ROCE, there may be better places to invest.

Simply Wall St -

What Kind Of Shareholder Owns Most Begbies Traynor Group plc (LON:BEG) Stock?

A look at the shareholders of Begbies Traynor Group plc (LON:BEG) can tell us which group is most powerful. … With a market capitalization of UK£70m, Begbies Traynor Group is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Begbies Traynor Group

Simply Wall St -

Why Begbies Traynor Group plc (LON:BEG) Could Have A Place In Your Portfolio

Begbies Traynor Group plc (LON:BEG) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of BEG, it

Simply Wall St -

Read This Before Buying Begbies Traynor Group plc (LON:BEG) For Its Dividend

Historically, Begbies Traynor Group plc (LON:BEG) has paid dividends to shareholders, and these days it yields 4.0%. … Does Begbies Traynor Group tick all the boxes of a great dividend stock? … View our latest analysis for Begbies Traynor Group

Simply Wall St -

If You Had Bought Begbies Traynor Group Stock Five Years Ago, You Could Pocket A 49% Gain Today

It hasn't been the best quarter for Begbies Traynor Group plc (LON:BEG) shareholders, since the share price has fallen 11% in that time. … In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. … During the five years of share price growth, Begbies Traynor Group moved from a loss to profitability.

Simply Wall St -

Can Begbies Traynor Group plc (LON:BEG) Improve Its Returns?

We'll use ROE to examine Begbies Traynor Group plc (LON:BEG), by way of a worked example. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.020 in profit. … View our latest analysis for Begbies Traynor Group?

Simply Wall St -

Company Info

Description

Begbies Traynor Group plc provides various professional services to businesses, professional advisors, other stakeholders, and investors and financial institutions in the United Kingdom. The company operates in two segments, Business Recovery and Advisory Services; and Property Services. It offers business rescue options, advisory options, closure options, forensic accounting and technology, investigations, corporate and commercial finance, and personal insolvency solutions to accountants, asset based lenders, banks, creditors, and solicitors, as well as directors and business owners. The company also provides financial and risk consultancy, network organization, property consultancy, insurance brokerage, employee trust, investigation agency, auctioneer, and facilities management services. In addition, it offers financial consulting services, including debt advisory, due diligence and valuations, litigation support, and restructuring and turnaround services. Begbies Traynor Group plc was founded in 1989 and is headquartered in Manchester, the United Kingdom.

Details
Name: Begbies Traynor Group plc
BEG
Exchange: AIM
Founded: 1989
£91,617,986
114,522,483
Website: http://www.begbies-traynorgroup.com
Address: Begbies Traynor Group plc
340 Deansgate,
Manchester,
Greater Manchester, M3 4LY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM BEG Ordinary Shares London Stock Exchange AIM Market GB GBP 01. Oct 2004
Number of employees
Current staff
Staff numbers
650
Begbies Traynor Group employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/23 23:18
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/07/11
Last earnings filing: 2019/07/09
Last earnings reported: 2019/04/30
Last annual earnings reported: 2019/04/30


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.