LSE:PAGE

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

PageGroup plc, together with its subsidiaries, provides recruitment consultancy and support services. More Details


Snowflake Analysis

Flawless balance sheet with high growth potential.


Similar Companies

Share Price & News

How has PageGroup's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PAGE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.2%

PAGE

-4.6%

GB Professional Services

-3.1%

GB Market


1 Year Return

-16.5%

PAGE

-0.9%

GB Professional Services

-17.0%

GB Market

Return vs Industry: PAGE underperformed the UK Professional Services industry which returned 1.5% over the past year.

Return vs Market: PAGE matched the UK Market which returned -16% over the past year.


Shareholder returns

PAGEIndustryMarket
7 Day-2.2%-4.6%-3.1%
30 Day-6.0%1.6%-3.3%
90 Day-7.2%-1.4%-4.0%
1 Year-16.5%-16.5%1.2%-0.9%-13.7%-17.0%
3 Year-19.5%-27.3%32.3%23.4%-8.3%-19.3%
5 Year-7.6%-24.5%106.6%83.3%18.5%-7.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is PageGroup undervalued compared to its fair value and its price relative to the market?

24.27x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PAGE (£3.61) is trading above our estimate of fair value (£1.59)

Significantly Below Fair Value: PAGE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PAGE is good value based on its PE Ratio (24.2x) compared to the GB Professional Services industry average (24.9x).

PE vs Market: PAGE is poor value based on its PE Ratio (24.2x) compared to the UK market (17.5x).


Price to Earnings Growth Ratio

PEG Ratio: PAGE is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: PAGE is overvalued based on its PB Ratio (3.4x) compared to the GB Professional Services industry average (2.1x).


Next Steps

Future Growth

How is PageGroup forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

47.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAGE's forecast earnings growth (47.6% per year) is above the savings rate (1.2%).

Earnings vs Market: PAGE's earnings (47.6% per year) are forecast to grow faster than the UK market (23.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PAGE's revenue (6.7% per year) is forecast to grow faster than the UK market (6.3% per year).

High Growth Revenue: PAGE's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PAGE's Return on Equity is forecast to be high in 3 years time (21%)


Next Steps

Past Performance

How has PageGroup performed over the past 5 years?

7.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAGE has high quality earnings.

Growing Profit Margin: PAGE's current net profit margins (3.2%) are lower than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: PAGE's earnings have grown by 7% per year over the past 5 years.

Accelerating Growth: PAGE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PAGE had negative earnings growth (-55.9%) over the past year, making it difficult to compare to the Professional Services industry average (-16.3%).


Return on Equity

High ROE: PAGE's Return on Equity (14.2%) is considered low.


Next Steps

Financial Health

How is PageGroup's financial position?


Financial Position Analysis

Short Term Liabilities: PAGE's short term assets (£455.2M) exceed its short term liabilities (£242.6M).

Long Term Liabilities: PAGE's short term assets (£455.2M) exceed its long term liabilities (£98.3M).


Debt to Equity History and Analysis

Debt Level: PAGE is debt free.

Reducing Debt: PAGE had no debt 5 years ago.

Debt Coverage: PAGE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PAGE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is PageGroup current dividend yield, its reliability and sustainability?

2.91%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PAGE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PAGE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PAGE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PAGE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PAGE is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PAGE's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

Steve Ingham (57 yo)

14.42yrs

Tenure

UK£4,105,000

Compensation

Mr. Stephen J. Ingham, also known as Steve, has been the Chief Executive officer of Michael Page International plc since April 6, 2006 and serves as its Member of Executive Board. He has been Chief Executi ...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD5.25M) is above average for companies of similar size in the UK market ($USD1.67M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Stephen Ingham
CEO, Member of Executive Board & Executive Director14.42yrsUK£4.11m0.29%
£ 3.4m
Kelvin Stagg
CFO, Member of Executive Board & Executive Director6.25yrsUK£2.00m0.056%
£ 646.7k
Gary James
COO & Executive Board Director of Australasiano datano datano data
Oliver Watson
COO & Executive Board Directorno datano datano data
Patrick Hollard
Executive Director of Latin Americano datano datano data
Anthony Thompson
Executive Board Director of Asia & Member of Executive Board2.67yrsno datano data
Roger Hanson
Director of Credit & Accounting Services34yrsno datano data
Jeremy Tatham
Group Financial Controllerno datano datano data
Kaye Maguire
General Counsel & Company Secretary1.92yrsno datano data
Eamon Collins
Group Marketing Directorno datano datano data
Richard Vickers
Regional Managing Director of North America Operations8.33yrsno datano data
Steve White
Senior Managing Director - Canada5.83yrsno datano data

6.3yrs

Average Tenure

54.5yo

Average Age

Experienced Management: PAGE's management team is seasoned and experienced (6.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Stephen Ingham
CEO, Member of Executive Board & Executive Director14.42yrsUK£4.11m0.29%
£ 3.4m
Kelvin Stagg
CFO, Member of Executive Board & Executive Director6.25yrsUK£2.00m0.056%
£ 646.7k
David Lowden
Chairman4.75yrsUK£213.80k0.0031%
£ 36.2k
Sylvia Metayer
Independent Non-Executive Director3yrsUK£55.50kno data
Simon Boddie
Independent Non-Executive Director8yrsUK£69.50kno data
Patrick De Smedt
Senior Independent Director4.25yrsUK£64.50kno data
Angela Seymour-Jackson
Independent Non-Executive Director2.92yrsUK£69.50k0.00029%
£ 3.3k
Michelle Healy
Independent Non-Executive Director3.92yrsUK£55.50kno data

4.5yrs

Average Tenure

60yo

Average Age

Experienced Board: PAGE's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PageGroup plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PageGroup plc
  • Ticker: PAGE
  • Exchange: LSE
  • Founded: 1976
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: UK£1.154b
  • Shares outstanding: 318.79m
  • Website: https://www.page.com

Number of Employees


Location

  • PageGroup plc
  • Page House
  • The Bourne Business Park
  • Addlestone
  • Surrey
  • KT15 2QW
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PAGELSE (London Stock Exchange)YesOrdinary SharesGBGBPMar 2001
3MIDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2001
MPGP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2001
PAGELBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMar 2001
MPGP.YOTCPK (Pink Sheets LLC)SPONSORED ADS REUSUSDNov 2010

Biography

PageGroup plc, together with its subsidiaries, provides recruitment consultancy and support services. The company offers executive search services; recruitment services for qualified professional on perman ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/27 03:51
End of Day Share Price2020/09/25 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.