AIM:SPR

Stock Analysis Report

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Executive Summary

Springfield Properties Plc, together with its subsidiary, engages in the house building business in the United Kingdom. More Details


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: SPR is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SPR's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-7.6%

SPR

8.6%

GB Consumer Durables

1.2%

GB Market


1 Year Return

17.3%

SPR

-3.7%

GB Consumer Durables

4.6%

GB Market

Return vs Industry: SPR exceeded the UK Consumer Durables industry which returned -3.7% over the past year.

Return vs Market: SPR exceeded the UK Market which returned 4.6% over the past year.


Shareholder returns

SPRIndustryMarket
7 Day-7.6%8.6%1.2%
30 Day11.3%4.5%0.9%
90 Day31.5%3.6%2.4%
1 Year20.6%17.3%-2.1%-3.7%10.6%4.6%
3 Year38.3%26.6%20.6%5.6%8.6%-4.5%
5 Yearn/a58.0%24.9%39.5%12.5%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.7x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SPR (£1.53) is trading above our estimate of fair value (£1.14)

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


Price To Earnings Ratio

PE vs Industry: SPR is good value based on its PE Ratio (15.7x) compared to the GB Consumer Durables industry average (19.5x).

PE vs Market: SPR is good value based on its PE Ratio (15.7x) compared to the UK market (24.1x).


Price to Earnings Growth Ratio

PEG Ratio: SPR is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: SPR is overvalued based on its PB Ratio (1.5x) compared to the GB Consumer Durables industry average (1.3x).


Next Steps

Future Growth

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

27.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPR's forecast earnings growth (27.2% per year) is above the savings rate (1%).

Earnings vs Market: SPR's earnings (27.2% per year) are forecast to grow faster than the UK market (22.8% per year).

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

Revenue vs Market: SPR's revenue (18.1% per year) is forecast to grow faster than the UK market (6.7% per year).

High Growth Revenue: SPR's revenue (18.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPR's Return on Equity is forecast to be low in 3 years time (15.1%).


Next Steps

Past Performance

How has Springfield Properties performed over the past 5 years?

17.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SPR has a large one-off gain of £2.2M impacting its November 30 2020 financial results.

Growing Profit Margin: SPR's current net profit margins (6%) are lower than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: SPR's earnings have grown by 17.9% per year over the past 5 years.

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

Earnings vs Industry: SPR had negative earnings growth (-26.9%) over the past year, making it difficult to compare to the Consumer Durables industry average (-44.5%).


Return on Equity

High ROE: SPR's Return on Equity (9.4%) is considered low.


Next Steps

Financial Health

How is Springfield Properties's financial position?


Financial Position Analysis

Short Term Liabilities: SPR's short term assets (£174.4M) exceed its short term liabilities (£56.7M).

Long Term Liabilities: SPR's short term assets (£174.4M) exceed its long term liabilities (£24.3M).


Debt to Equity History and Analysis

Debt Level: SPR's debt to equity ratio (33.6%) is considered satisfactory.

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

Debt Coverage: SPR's debt is well covered by operating cash flow (79.3%).

Interest Coverage: SPR's interest payments on its debt are well covered by EBIT (6.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Springfield Properties's current dividend yield, its reliability and sustainability?

1.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SPR's dividend (1.7%) is higher than the bottom 25% of dividend payers in the UK market (1.49%).

High Dividend: SPR's dividend (1.7%) is low compared to the top 25% of dividend payers in the UK market (4.51%).


Stability and Growth of Payments

Stable Dividend: SPR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: SPR's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (34%), SPR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SPR's dividends in 3 years are forecast to be well covered by earnings (32.4% payout ratio).


Next Steps

Management

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

2.8yrs

Average management tenure


CEO

Innes Smith (50 yo)

8.42yrs

Tenure

UK£247,000

Compensation

Mr. Innes Smith, CA, has been Chief Executive Officer of Springfield Properties PLC since October 2012 and served as its Managing Director until September 15, 2017. Mr. Smith joined Springfield Properties ...


CEO Compensation Analysis

Compensation vs Market: Innes's total compensation ($USD344.52K) is below average for companies of similar size in the UK market ($USD570.00K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Alexander Adam
Part Time Executive Chairman17.17yrsUK£107.00k40.72%
£ 62.5m
Innes Smith
CEO & Executive Director8.42yrsUK£247.00k0.97%
£ 1.5m
Michelle Motion
CFO & Executive Director5.42yrsUK£199.00k0.074%
£ 113.2k
Martin Egan
COO & Managing Director of Dawn Homes1.17yrsno datano data
Andrew Todd
Group Director3.42yrsno datano data
Karen Campbell
Group Corporate Communications Director1.17yrsno datano data
Tricia Malek
Sales Directorno datano datano data
Heather Henderson
Group HR Director4.17yrsno datano data
Tom Leggeat
Managing Director of Springfield Partnerships2.25yrsno datano data
Dave Main
Managing Director of North of Scotland Projects2.25yrsno datano data
Peter Matthews
Managing Director of Central Belt Scotland Projects2.25yrsno datano data

2.8yrs

Average Tenure

50yo

Average Age

Experienced Management: SPR's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alexander Adam
Part Time Executive Chairman17.17yrsUK£107.00k40.72%
£ 62.5m
Innes Smith
CEO & Executive Director8.42yrsUK£247.00k0.97%
£ 1.5m
Michelle Motion
CFO & Executive Director5.42yrsUK£199.00k0.074%
£ 113.2k
Nicholas Cooper
Independent Non-Executive Director2.75yrsUK£39.00k0.015%
£ 22.7k
Roger Eddie
Independent Non-Executive Director12.33yrsUK£39.00k0.047%
£ 71.9k
Matthew Benson
Independent Non Executive Director10.17yrsUK£39.00k0.028%
£ 43.2k
Colin Rae
Independent Non-Executive Director1.5yrsUK£27.00k0.020%
£ 30.5k

10.2yrs

Average Tenure

55yo

Average Age

Experienced Board: SPR's board of directors are seasoned and experienced ( 10.2 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 been diluted in the past year, with total shares outstanding growing by 4.5%.


Top Shareholders

Company Information

Springfield Properties Plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Springfield Properties Plc
  • Ticker: SPR
  • Exchange: AIM
  • Founded: 1956
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: UK£153.493m
  • Shares outstanding: 100.65m
  • Website: https://www.springfield.co.uk

Number of Employees


Location

  • Springfield Properties Plc
  • Alexander Fleming House
  • 8 Southfield Drive
  • Elgin
  • Morayshire
  • IV30 6GR
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SPRAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPOct 2017

Biography

Springfield Properties Plc, together with its subsidiary, engages in the house building business in the United Kingdom. The company operates through two markets, Private Housing and Affordable. It is also ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/06 20:25
End of Day Share Price2021/03/05 00:00
Earnings2020/11/30
Annual Earnings2020/05/31


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.