AIM:HVN

Stock Analysis Report

Executive Summary

Harvey Nash Group plc, together with its subsidiaries, provides recruitment and outsourcing solutions primarily in the United Kingdom and Ireland, Mainland Europe, and internationally.

Snowflake

Fundamentals

Established dividend payer and good value.

Risks

  • Harvey Nash Group is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Harvey Nash Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

AIM:HVN

-1.1%

GB Professional Services

-1.1%

GB Market


1 Year Return

42.0%

AIM:HVN

11.4%

GB Professional Services

-5.7%

GB Market

HVN outperformed the Professional Services industry which returned -4% over the past year.

HVN outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -13.7% over the past year.


Share holder returns

HVNIndustryMarket
7 Day0.8%-1.1%-1.1%
30 Day-1.3%0.2%-4.4%
90 Day-1.2%3.1%-2.7%
1 Year47.4%42.0%13.9%11.4%-1.3%-5.7%
3 Year71.7%48.3%50.5%40.0%17.6%3.9%
5 Year57.1%26.6%115.1%89.9%26.8%0.1%

Price Volatility Vs. Market

How volatile is Harvey Nash Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Harvey Nash Group undervalued based on future cash flows and its price relative to the stock market?

41%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Harvey Nash Group's share price is below the future cash flow value, and at a moderate discount (> 20%).

Harvey Nash Group's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Harvey Nash Group is overvalued based on earnings compared to the GB Professional Services industry average.

Harvey Nash Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.


Price Based on Expected Growth

Harvey Nash Group is good value based on expected growth next year.


Price Based on Value of Assets

Harvey Nash Group is good value based on assets compared to the GB Professional Services industry average.


Next Steps

Future Growth

How is Harvey Nash Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

25.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Harvey Nash Group's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).

Harvey Nash Group's earnings are expected to grow significantly at over 20% yearly.

Harvey Nash Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.

Harvey Nash Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.

Harvey Nash Group's earnings growth is expected to exceed the low risk savings rate of 1.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Harvey Nash Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Harvey Nash Group performed over the past 5 years?

1.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Harvey Nash Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.

Harvey Nash Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Harvey Nash Group's 1-year earnings growth is negative, it can't be compared to the GB Professional Services industry average.


Return on Equity

Harvey Nash Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Harvey Nash Group used its assets less efficiently than the GB Professional Services industry average last year based on Return on Assets.


Return on Capital Employed

Harvey Nash Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Harvey Nash Group's financial position?


Financial Position Analysis

Harvey Nash Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Harvey Nash Group's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Harvey Nash Group's level of debt (83.2%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (0.2% vs 83.2% today).

Debt is not well covered by operating cash flow (6.2%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 14.1x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 4.2x debt.


Next Steps

Dividend

What is Harvey Nash Group's current dividend yield, its reliability and sustainability?

3.68%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Harvey Nash Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.1%).

Harvey Nash Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.61%).

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

Dividends paid are covered by earnings (1.3x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).


Next Steps

Management

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

13.2yrs

Average management tenure


CEO

Albert George Ellis (54yo)

13.5yrs

Tenure

UK£915,731

Compensation

Mr. Albert George Hector Ellis, BACC, CA has been the Chief Executive Officer of Harvey Nash Group Plc since June 2005 and as its Executive Director since February 2000. He also serves as Chief Executive O ...


CEO Compensation Analysis

Albert George's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.

Albert George's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

13.2yrs

Average Tenure

54yo

Average Age

The average tenure for the Harvey Nash Group management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

7.4yrs

Average Tenure

53.5yo

Average Age

The tenure for the Harvey Nash Group board of directors is about average.


Insider Trading

No 3 month insider trading information.


Recent Insider Transactions

BuyUK£20,08226 Oct 18
DBAY Advisors Limited
EntityCompany
Shares15,448
Max PriceUK£1.30
BuyUK£291,73025 Oct 18
DBAY Advisors Limited
EntityCompany
Shares224,408
Max PriceUK£1.30
BuyUK£127,08824 Oct 18
DBAY Advisors Limited
EntityCompany
Shares97,760
Max PriceUK£1.30
BuyUK£10,89723 Oct 18
DBAY Advisors Limited
EntityCompany
Shares8,382
Max PriceUK£1.30
SellUK£6,245,09415 Oct 18
Herald Investment Management Limited
EntityCompany
Shares4,803,920
Max PriceUK£1.30
BuyUK£6,245,09415 Oct 18
DBAY Advisors Limited
EntityCompany
Shares4,803,920
Max PriceUK£1.30
SellUK£1,006,17311 Oct 18
Oddo Bhf Asset Management SAS
EntityCompany
Shares773,979
Max PriceUK£1.30
BuyUK£1,441,39110 Oct 18
DBAY Advisors Limited
EntityCompany
Shares1,108,762
Max PriceUK£1.30
BuyUK£8,64510 Oct 18
Arden Partners plc, Asset Management Arm
EntityCompany
Shares7,000
Max PriceUK£1.24
SellUK£8,65910 Oct 18
Arden Partners plc, Asset Management Arm
EntityCompany
Shares7,000
Max PriceUK£1.24
SellUK£102,02710 Oct 18
Arden Partners plc, Asset Management Arm
EntityCompany
Shares79,553
Max PriceUK£1.28
BuyUK£102,02710 Oct 18
Arden Partners plc, Asset Management Arm
EntityCompany
Shares79,553
Max PriceUK£1.28
BuyUK£1,796,75010 Oct 18
DBAY Advisors Limited
EntityCompany
Shares1,382,115
Max PriceUK£1.30
SellUK£1,406,75010 Oct 18
Otus Capital Management Limited
EntityCompany
Shares1,082,115
Max PriceUK£1.30
SellUK£1,399,95702 Oct 18
Otus Capital Management Limited
EntityCompany
Shares1,076,890
Max PriceUK£1.30
BuyUK£1,640,45701 Oct 18
DBAY Advisors Limited
EntityCompany
Shares1,261,890
Max PriceUK£1.30
BuyUK£145,14727 Sep 18
DBAY Advisors Limited
EntityCompany
Shares112,552
Max PriceUK£1.29
BuyUK£1,498,27226 Sep 18
DBAY Advisors Limited
EntityCompany
Shares1,175,115
Max PriceUK£1.28
SellUK£87,06220 Sep 18
Oddo Bhf Asset Management SAS
EntityCompany
Shares66,971
Max PriceUK£1.30
BuyUK£686,40019 Sep 18
Oddo Bhf Asset Management SAS
EntityCompany
Shares528,000
Max PriceUK£1.30
SellUK£831 Aug 18
FMR LLC
EntityCompany
Shares6
Max PriceUK£1.30

Ownership Breakdown


Management Team

  • Albert George Ellis (54yo)

    CEO & Executive Director

    • Tenure: 13.5yrs
    • Compensation: UK£915.73k
  • Mark Garratt (52yo)

    Group Finance Director

    • Tenure: 1.7yrs
    • Compensation: UK£401.86k
  • M.D. Tegborg (54yo)

    Managing Director of Harvey Nash Nordics

    • Tenure: 0.0yrs
  • Anna Frazzetto

    MD & Senior VP of International Technology Solutions

    • Tenure: 13.5yrs
  • Simon Wassall (55yo)

    European MD & Executive Director

    • Tenure: 13.2yrs
    • Compensation: UK£620.00k
  • Frank McKenna

    Head of NHS & Health Services Practice - Executive Search Division and Director of Health & NHS

    • Tenure: 0.0yrs
  • Jan Leen 't Jong

    Managing Director of Harvey Nash Netherlands

    • Tenure: 0.0yrs
  • Spencer Young

    Sales Director

    • Tenure: 0.0yrs
  • Rob Grimsey

    Group Marketing Director

    • Tenure: 0.0yrs
  • Bridget Gray

    Managing Director of Australia Operations

    • Tenure: 6.8yrs

Board Members

  • Albert George Ellis (54yo)

    CEO & Executive Director

    • Tenure: 13.5yrs
    • Compensation: UK£915.73k
  • Mark Garratt (52yo)

    Group Finance Director

    • Tenure: 1.7yrs
    • Compensation: UK£401.86k
  • Simon Wassall (55yo)

    European MD & Executive Director

    • Tenure: 13.2yrs
    • Compensation: UK£620.00k
  • Adrian Gunn (53yo)

    Non-Executive Director

    • Tenure: 1.2yrs
    • Compensation: UK£10.80k

Company Information

Harvey Nash Group plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Harvey Nash Group plc
  • Ticker: HVN
  • Exchange: AIM
  • Founded: 1988
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: UK£96.575m
  • Shares outstanding: 75.16m
  • Website: https://www.harveynash.com

Number of Employees


Location

  • Harvey Nash Group plc
  • 110 Bishopsgate
  • London
  • Greater London
  • EC2N 4AY
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HVNAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPApr 1997

Biography

Harvey Nash Group plc, together with its subsidiaries, provides recruitment and outsourcing solutions primarily in the United Kingdom and Ireland, Mainland Europe, and internationally. It offers various le ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2018/12/28 20:43
End of Day Share Price2018/12/27 00:00
Earnings2018/07/31
Annual Earnings2018/01/31


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.