AIM:MUL

Stock Analysis Report

Executive Summary

Mulberry Group plc, through its subsidiaries, designs, develops, manufactures, markets, and sells fashion accessories, clothing, and footwear in the United Kingdom, rest of Europe, Asia, North America, and internationally.

Snowflake

Fundamentals

Adequate balance sheet unattractive dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

3.7%

MUL

-1.6%

GB Luxury

0.08%

GB Market


1 Year Return

-10.2%

MUL

5.0%

GB Luxury

3.5%

GB Market

Return vs Industry: MUL underperformed the UK Luxury industry which returned 5% over the past year.

Return vs Market: MUL underperformed the UK Market which returned 3.5% over the past year.


Shareholder returns

MULIndustryMarket
7 Day3.7%-1.6%0.08%
30 Day-1.7%-12.7%-1.3%
90 Day5.4%-14.2%-2.2%
1 Year-8.8%-10.2%7.6%5.0%9.0%3.5%
3 Year-74.0%-74.6%19.9%12.3%18.1%3.1%
5 Year-56.9%-58.1%33.9%19.5%36.2%5.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

2.04x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: MUL (£2.83) is trading above our estimate of fair value (£0.81)

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


Price To Earnings Ratio

PE vs Industry: MUL is unprofitable, so we can't compare its PE Ratio to the Luxury industry average.

PE vs Market: MUL is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MUL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MUL is good value based on its PB Ratio (2x) compared to the GB Luxury industry average (2x).


Next Steps

Future Growth

How is Mulberry Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

35.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MUL is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MUL is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MUL is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: Insufficient data to determine if MUL's revenue is forecast to grow faster than the UK market.

High Growth Revenue: Insufficient data to determine if MUL's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MUL's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Mulberry Group performed over the past 5 years?

-2.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MUL is unprofitable, and losses have increased over the past 5 years at a rate of -2.6% per year.

Accelerating Growth: Unable to compare MUL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MUL is unprofitable, making it difficult to compare its past year earnings growth to the Luxury industry (-2.3%).


Return on Equity

High ROE: MUL has a negative Return on Equity (-6.01%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: MUL is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MUL is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Mulberry Group's financial position?


Financial Position Analysis

Short Term Liabilities: MUL's short term assets (£67.6M) exceeds its short term liabilities (£26.7M)

Long Term Liabilities: MUL's short term assets (67.6M) exceeds its long term liabilities (1.8M)


Debt to Equity History and Analysis

Debt Level: MUL's debt to equity ratio (5.5%) is considered satisfactory

Reducing Debt: Insufficient data to determine if MUL's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: MUL's debt is well covered by operating cash flow (88%).

Interest Coverage: Insufficient data to determine if MUL's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: MUL has a high level of physical assets or inventory.

Debt Coverage by Assets: MUL's debt is covered by short term assets (assets are 15.090420x debt).


Next Steps

Dividend

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

1.77%

Current Dividend Yield


Dividend Yield vs Market

company1.8%marketbottom25%2.0%markettop25%5.4%industryaverage2.3%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MUL's dividend (1.77%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.98%).

High Dividend: MUL's dividend (1.77%) is low compared to the top 25% of dividend payers in the UK market (5.37%).

Stable Dividend: MUL's dividends per share have been stable in the past 10 years.

Growing Dividend: MUL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: MUL is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

7.3yrs

Average board tenure


CEO

Thierry Andretta (62yo)

4.5yrs

Tenure

UK£983,000

Compensation

Mr. Thierry Patrick Andretta has been the Chief Executive Officer of Mulberry Group plc since April 7, 2015 and has been its Executive Director since February 25, 2016. Mr. Andretta serves as Vice Presiden ...


CEO Compensation Analysis

Compensation vs. Market: Thierry's total compensation ($USD1.27M) is above average for companies of similar size in the UK market ($USD659.56K).

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


Board Age and Tenure

7.3yrs

Average Tenure

61yo

Average Age

Experienced Board: MUL's board of directors are considered experienced (7.3 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Thierry Andretta (62yo)

    CEO & Executive Director

    • Tenure: 4.5yrs
    • Compensation: UK£983.00k
  • Kate Wilkinson

    Company Secretary

    • Tenure: 8.2yrs

Board Members

  • Steve Grapstein (61yo)

    Non-Executive Director

    • Tenure: 15.9yrs
    • Compensation: UK£45.00k
  • Thierry Andretta (62yo)

    CEO & Executive Director

    • Tenure: 4.5yrs
    • Compensation: UK£983.00k
  • Chris Roberts (55yo)

    Non-Executive Director

    • Tenure: 17.3yrs
    • Compensation: UK£50.00k
  • Godfrey Davis (70yo)

    Non-Executive Chairman

    • Tenure: 7.3yrs
    • Compensation: UK£200.00k
  • Julie Gilhart (61yo)

    Independent Non-Executive Director

    • Tenure: 4.8yrs
    • Compensation: UK£45.00k
  • Melissa Ong (45yo)

    Non-Executive Director

    • Tenure: 9.1yrs
    • Compensation: UK£45.00k
  • Christophe Cornu (55yo)

    Independent Non-Executive Director

    • Tenure: 6.4yrs
    • Compensation: UK£46.00k

Company Information

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


Key Information

  • Name: Mulberry Group plc
  • Ticker: MUL
  • Exchange: AIM
  • Founded: 1971
  • Industry: Apparel, Accessories and Luxury Goods
  • Sector: Consumer Durables
  • Market Cap: UK£164.096m
  • Shares outstanding: 59.46m
  • Website: https://www.mulberry.com

Number of Employees


Location

  • Mulberry Group plc
  • The Rookery
  • Chilcompton
  • Bath
  • Somerset
  • BA3 4EH
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MULAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPMay 1996

Biography

Mulberry Group plc, through its subsidiaries, designs, develops, manufactures, markets, and sells fashion accessories, clothing, and footwear in the United Kingdom, rest of Europe, Asia, North America, and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 20:38
End of Day Share Price2019/10/22 00:00
Earnings2019/03/30
Annual Earnings2019/03/30


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.