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Norish

AIM:NSH
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NSH
AIM
£18M
Market Cap
  1. Home
  2. GB
  3. Commercial Services
Company description

Norish Plc, together with its subsidiaries, provides temperature-controlled warehousing and logistics services to food manufacturers, importers, wholesalers, retailers, and distributors in the United Kingdom and Ireland. The last earnings update was 18 days ago. More info.


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NSH Share Price and Events
7 Day Returns
-6.9%
AIM:NSH
1.3%
GB Commercial Services
0.5%
GB Market
1 Year Returns
-19.3%
AIM:NSH
5.4%
GB Commercial Services
0.8%
GB Market
NSH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norish (NSH) -6.9% -6.9% -5.5% -19.3% 70.4% 53.2%
GB Commercial Services 1.3% 10.8% 12.5% 5.4% 18.4% -7.6%
GB Market 0.5% 3.6% 7.6% 0.8% 15.9% 6.2%
1 Year Return vs Industry and Market
  • NSH underperformed the Commercial Services industry which returned 5.4% over the past year.
  • NSH underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 0.8% over the past year.
Price Volatility
NSH
Industry
5yr Volatility vs Market

Value

 Is Norish 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 Norish 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 Norish.

AIM:NSH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:NSH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 19%) (35.37%))
0.962
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.962 * 6.65%)
7.62%

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

The calculations below outline how an intrinsic value for Norish 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:NSH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.62%)
2019 0.43 Est @ -15.07% 0.40
2020 0.38 Est @ -10.18% 0.33
2021 0.36 Est @ -6.76% 0.29
2022 0.34 Est @ -4.36% 0.25
2023 0.33 Est @ -2.69% 0.23
2024 0.33 Est @ -1.51% 0.21
2025 0.32 Est @ -0.69% 0.19
2026 0.32 Est @ -0.12% 0.18
2027 0.33 Est @ 0.29% 0.17
2028 0.33 Est @ 0.57% 0.16
Present value of next 10 years cash flows £2.40
AIM:NSH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £0.33 × (1 + 1.23%) ÷ (7.62% – 1.23%)
£5.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £5.17 ÷ (1 + 7.62%)10
£2.48
AIM:NSH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £2.40 + £2.48
£4.89
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £4.89 / 30.07
£0.16
AIM:NSH Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.16
Current discount Discount to share price of £0.61
= -1 x (£0.61 - £0.16) / £0.16
-272.3%

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

  • The current share price of Norish is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Norish's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norish's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:NSH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.05
AIM:NSH Share Price ** AIM (2019-04-23) in GBP £0.61
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PE Ratio Median Figure of 28 Publicly-Listed Commercial Services Companies 20.08x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

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

** Primary Listing of Norish.

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

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

= 0.61 ÷ 0.05

12.11x

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

  • Norish is good value based on earnings compared to the GB Commercial Services industry average.
  • Norish is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Norish's expected growth come at a high price?
Raw Data
AIM:NSH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PEG Ratio Median Figure of 18 Publicly-Listed Commercial Services Companies 1.39x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Norish, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Norish's assets?
Raw Data
AIM:NSH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £0.55
AIM:NSH Share Price * AIM (2019-04-23) in GBP £0.61
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PB Ratio Median Figure of 37 Publicly-Listed Commercial Services Companies 1.67x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
AIM:NSH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.61 ÷ 0.55

1.11x

* Primary Listing of Norish.

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

  • Norish is good value based on assets compared to the GB Commercial Services industry average.
X
Value checks
We assess Norish'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 Commercial 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Norish 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 Norish expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
12.7%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Norish expected to grow at an attractive rate?
  • Norish's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Norish's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Norish's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:NSH Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:NSH Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 12.7%
AIM:NSH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.2%
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 28%
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
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
Raw Data
AIM:NSH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:NSH Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 40 1
2019-12-31 39 1
AIM:NSH Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 37 2 2
2018-09-30 38 2 1
2018-06-30 40 2 1
2018-03-31 41 2 1
2017-12-31 42 3 1
2017-09-30 40 2 1
2017-06-30 37 1 1
2017-03-31 35 1 1
2016-12-31 32 0 0
2016-09-30 30 0 1
2016-06-30 29 0 1
2016-03-31 27 0 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norish's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
  • Norish's revenue is expected to grow by 4.2% 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:NSH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Norish Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:NSH Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.06 0.06 0.06 1.00
2019-12-31 0.06 0.06 0.06 1.00
AIM:NSH Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.05
2018-09-30 0.05
2018-06-30 0.04
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.03
2017-06-30 0.02
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.02
2016-06-30 0.03
2016-03-31 0.03

*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.
  • Unable to establish if Norish will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Norish'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.
Norish has a total score of 2/6, 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 Norish 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 Norish's growth in the last year to its industry (Commercial 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.
  • Norish's year on year earnings growth rate has been positive over the past 5 years.
  • Norish's 1-year earnings growth exceeds its 5-year average (23.8% vs 14.6%)
  • Norish's earnings growth has not exceeded the GB Commercial Services industry average in the past year (23.8% vs 25.1%).
Earnings and Revenue History
Norish'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 Norish Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:NSH Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 36.80 1.50 0.85
2018-09-30 38.36 1.39 0.85
2018-06-30 40.09 1.12 0.86
2018-03-31 41.14 1.10 0.87
2017-12-31 42.01 1.21 0.89
2017-09-30 39.55 0.99 0.84
2017-06-30 37.09 0.76 0.80
2017-03-31 34.59 0.61 0.75
2016-12-31 32.10 0.45 0.71
2016-09-30 30.49 0.53 0.63
2016-06-30 28.89 0.60 0.56
2016-03-31 27.02 0.56 0.50
2015-12-31 25.15 0.51 0.45
2015-09-30 24.73 0.60 0.45
2015-06-30 24.32 0.68 0.45
2015-03-31 23.98 0.64 0.46
2014-12-31 23.65 0.61 0.47
2014-09-30 23.09 0.69 0.47
2014-06-30 22.53 0.77 0.48
2014-03-31 22.67 0.82 0.47
2013-12-31 22.81 0.87 0.47
2013-06-30 19.55 -0.02 0.45
2013-03-31 16.55 -0.13 0.43
2012-12-31 13.55 -0.24 0.42
2012-09-30 13.09 0.07 0.40
2012-06-30 11.30 0.22 0.38

*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.
  • Norish has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Norish used its assets more efficiently than the GB Commercial Services industry average last year based on Return on Assets.
  • Norish has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Norish'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 Commercial 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.
Norish has a total score of 4/6, 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 Norish'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 Norish's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Norish's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Norish's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Norish'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.4x 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 Norish Company Filings, last reported 3 months ago.

AIM:NSH Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 16.73 6.43 1.54
2018-09-30 16.73 6.43 1.54
2018-06-30 16.38 6.15 1.17
2018-03-31 16.38 6.15 1.17
2017-12-31 15.95 6.95 1.56
2017-09-30 15.95 6.95 1.56
2017-06-30 15.76 6.68 1.28
2017-03-31 15.76 6.68 1.28
2016-12-31 15.26 7.30 2.04
2016-09-30 15.26 7.30 2.04
2016-06-30 15.56 6.47 3.20
2016-03-31 15.56 6.47 3.20
2015-12-31 15.33 7.60 4.38
2015-09-30 15.33 7.60 4.38
2015-06-30 10.53 7.27 0.13
2015-03-31 10.53 7.27 0.13
2014-12-31 10.37 7.40 0.39
2014-09-30 10.37 7.40 0.39
2014-06-30 10.29 7.25 0.11
2014-03-31 10.29 7.25 0.11
2013-12-31 8.28 6.43 0.05
2013-06-30 8.29 8.38 0.04
2013-03-31 8.29 8.38 0.04
2012-12-31 8.07 8.11 0.10
2012-09-30 8.07 8.25 0.10
2012-06-30 7.94 8.39 0.07
  • Norish's level of debt (38.5%) 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 (77.6% vs 38.5% today).
  • Debt is well covered by operating cash flow (33.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.5x coverage).
X
Financial health checks
We assess Norish'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. Norish has a total score of 5/6, 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 Norish'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
2.56%
Current annual income from Norish dividends. Estimated to be 3.33% next year.
If you bought £2,000 of Norish shares you are expected to receive £51 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?
  • Norish's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Norish's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Upcoming dividend payment

Purchase Norish 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:NSH 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 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 2.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 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 5.2%

Industry and Market average data is calculated daily.

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

AIM:NSH Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.02 1.00
2019-12-31 0.02 1.00
AIM:NSH Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.015 2.407
2019-03-08 0.015 2.359
2018-05-23 0.014 2.140
2017-04-18 0.013 2.572
2016-04-06 0.011 3.171
2016-03-30 0.012 3.372
2015-03-31 0.010 2.430
2015-03-06 0.011 2.437
2014-04-04 0.009 2.677
2014-03-06 0.010 2.294
2013-03-08 0.010 2.186
2012-04-02 0.010 2.977
2011-03-04 0.011 2.898
2011-03-03 0.011 2.733
2010-09-03 0.000 0.000
2010-03-01 0.000 0.000
2009-09-04 0.015 4.650
2009-04-24 0.011 3.341

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 Norish's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Norish'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 Norish afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norish has a total score of 5/6, 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 Norish'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
Kieran Mahon
COMPENSATION £151,000
AGE 52
TENURE AS CEO 3.3 years
CEO Bio

Mr. Kieran Mahon has been Group Managing Director of Norish plc since January 1, 2016 and has been its Executive Director since August 19, 2015. Mr. Mahon joined Norish from J+E Davy, where he was an equity analyst. Mr. Mahon serves as a Director of Nuhall Retail Services Limited and Ferncroft Farm Limited. Mr. Mahon holds a Masters Degree in Business Administration from Dublin City University.

CEO Compensation
  • Kieran's compensation has increased by more than 20% in the past year.
  • Kieran's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Norish management team in years:

3.3
Average Tenure
53
Average Age
  • The tenure for the Norish management team is about average.
Management Team

Ted O'Neill

TITLE
Executive Chairman
COMPENSATION
£114K
AGE
66

Kieran Mahon

TITLE
Group MD & Executive Director
COMPENSATION
£151K
AGE
52
TENURE
3.3 yrs

Aidan Hughes

TITLE
Financial Director & Executive Director
AGE
54
TENURE
12.6 yrs

David Bell

TITLE
Sales and Business Development Manager

Ger Murphy

TITLE
Company Secretary
AGE
32
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Norish board of directors in years:

13.9
Average Tenure
63.5
Average Age
  • The average tenure for the Norish board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ted O'Neill

TITLE
Executive Chairman
COMPENSATION
£114K
AGE
66
TENURE
15.9 yrs

Kieran Mahon

TITLE
Group MD & Executive Director
COMPENSATION
£151K
AGE
52
TENURE
3.7 yrs

Aidan Hughes

TITLE
Financial Director & Executive Director
AGE
54
TENURE
12.6 yrs

Willie McCarter

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£14K
AGE
70
TENURE
15.3 yrs

Torgeir Mantor

TITLE
Non-Executive Director
COMPENSATION
£14K
AGE
61
TENURE
26.3 yrs

Sean Savage

TITLE
Non-Executive Director
COMPENSATION
£14K
AGE
72
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
23. Oct 18 Buy Timothy O'Neill Individual 23. Oct 18 23. Oct 18 10,000 £0.62 £6,150
X
Management checks
We assess Norish'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. Norish 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

Here's Why I Think Norish (LON:NSH) Might Deserve Your Attention Today

So if you're like me, you might be more interested in profitable, growing companies, like Norish (LON:NSH). … Loss-making companies are always racing against time to reach financial sustainability, but time is often a friend of the profitable company, especially if it is growing. … One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing.

Simply Wall St -

Here’s What Norish Plc’s (LON:NSH) Return On Capital Can Tell Us

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

Should Norish (LON:NSH) Be Disappointed With Their 74% Profit?

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Norish was able to grow its EPS at 20% per year over three years, sending the share price higher. … Notably, the 20% average annual share price gain matches up nicely with the EPS growth rate.

Simply Wall St -

Is Norish Plc (LON:NSH) A Financially Sound Company?

Investors are always looking for growth in small-cap stocks like Norish Plc (LON:NSH), with a market cap of UK£20m. … Evaluating financial health as part of your investment thesis is. … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Is Norish Plc's (LON:NSH) 7.0% ROE Worse Than Average?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Norish has a return on equity of 7.0% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Read This Before You Buy Norish Plc (LON:NSH) Because Of Its P/E Ratio

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Norish Plc's (LON:NSH) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Here’s why Norish Plc’s (LON:NSH) Returns On Capital Matters So Much

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Was Norish Plc's (LON:NSH) Earnings Growth Better Than The Industry's?

When Norish Plc (LON:NSH) announced its most recent earnings (30 June 2018), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Did NSH's recent earnings growth beat the long-term trend and the industry. … NSH's trailing twelve-month earnings (from 30 June 2018) of UK£1.1m has.

Simply Wall St -

Is Norish Plc's (LON:NSH) CEO Pay Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Kieran Mahon's Compensation Compare With Similar Sized Companies. … A first glance this seems like a real positive for shareholders, since Kieran Mahon is paid less than the average compensation paid by similar sized companies.

Simply Wall St -

Norish Plc (LON:NSH): Time For A Financial Health Check

Investors are always looking for growth in small-cap stocks like Norish Plc (LON:NSH), with a market cap of UK£18m. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

Company Info

Description

Norish Plc, together with its subsidiaries, provides temperature-controlled warehousing and logistics services to food manufacturers, importers, wholesalers, retailers, and distributors in the United Kingdom and Ireland. The company operates through Product Sourcing Business, North West Cold Storage, South East Cold Storage, and Dairy Farming segments. It offers bonded storage, handling, blast freezing, de-vanning, picking and packing, and cross-docking and distribution services. The company also supplies raw and cooked beef, mutton, lamb, pork, chicken, fish, and poultry and dairy products to food manufacturing and wholesale companies in the United Kingdom, including Northern Ireland. In addition, it is involved in the dairy farming, investment, and property management businesses. Norish plc was founded in 1975 and is headquartered in Bury St Edmunds, the United Kingdom.

Details
Name: Norish Plc
NSH
Exchange: AIM
Founded: 1975
£18,192,578
30,070,378
Website: http://www.norish.com
Address: Norish Plc
Northern Industrial Estate,
Bury St Edmunds,
Suffolk, IP32 6NL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM NSH Ordinary Shares London Stock Exchange AIM Market GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
175
Norish employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:52
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/05
Last earnings filing: 2019/04/05
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.