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Barratt Developments

LSE:BDEV
Snowflake Description

Very undervalued with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BDEV
LSE
£4B
Market Cap
  1. Home
  2. GB
  3. Consumer Durables
Company description

Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. The last earnings update was 92 days ago. More info.


Add to Portfolio Compare Print
  • Barratt Developments has significant price volatility in the past 3 months.
BDEV Share Price and Events
7 Day Returns
-1.8%
LSE:BDEV
0.3%
GB Consumer Durables
0.5%
GB Market
1 Year Returns
-32%
LSE:BDEV
-29.1%
GB Consumer Durables
-10.2%
GB Market
BDEV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Barratt Developments (BDEV) -1.8% -12.7% -23% -32% -28.4% 29.1%
GB Consumer Durables 0.3% -10.2% -19.4% -29.1% -15.8% 37.3%
GB Market 0.5% -3.8% -8% -10.2% 6% -7.8%
1 Year Return vs Industry and Market
  • BDEV underperformed the Consumer Durables industry which returned -29.1% over the past year.
  • BDEV underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -10.2% over the past year.
Price Volatility
BDEV
Industry
5yr Volatility vs Market

BDEV Value

 Is Barratt Developments 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 Barratt Developments 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 Barratt Developments.

LSE:BDEV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.4%

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 LSE:BDEV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 8.6%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 19%) (4.35%))
0.619
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.4% + (0.8 * 8.6%)
8.28%

Discounted Cash Flow Calculation for LSE:BDEV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Barratt Developments is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

LSE:BDEV DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (GBP, Millions) 523.00 578.24 669.97 749.39 838.23
Source Analyst x3 Analyst x4 Analyst x4 Est @ 11.85% Est @ 11.85%
Present Value
Discounted (@ 8.28%)
483.01 493.19 527.74 545.16 563.16
Present value of next 5 years cash flows £2,612.26
LSE:BDEV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= £838.23 × (1 + 1.4%) ÷ (8.28% – 1.4%)
£12,349.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= £12,349.48 ÷ (1 + 8.28%)5
£8,296.97
LSE:BDEV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= £2,612.26 + £8,296.97
£10,909.23
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £10,909.23 / 1,013.29
£10.77
LSE:BDEV Discount to Share Price
Calculation Result
Value per share (GBP) From above. £10.77
Current discount Discount to share price of £4.39
= -1 x (£4.39 - £10.77) / £10.77
59.2%

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

Current Discount
Amount off the current price Barratt Developments is available for.
Intrinsic value
>50%
Share price is £4.39 vs Future cash flow value of £10.77
Current Discount Checks
For Barratt Developments to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Barratt Developments's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Barratt Developments's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Barratt Developments's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Barratt Developments's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:BDEV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in GBP £0.66
LSE:BDEV Share Price ** LSE (2018-12-18) in GBP £4.39
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PE Ratio Median Figure of 25 Publicly-Listed Consumer Durables Companies 10.48x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 814 Publicly-Listed Companies 14.67x

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

** Primary Listing of Barratt Developments.

LSE:BDEV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:BDEV Share Price ÷ EPS (both in GBP)

= 4.39 ÷ 0.66

6.61x

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

  • Barratt Developments is good value based on earnings compared to the GB Consumer Durables industry average.
  • Barratt Developments is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Barratt Developments's expected growth come at a high price?
Raw Data
LSE:BDEV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
6.7%per year
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PEG Ratio Median Figure of 22 Publicly-Listed Consumer Durables Companies 1.28x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 580 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

LSE:BDEV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.61x ÷ 6.7%

0.98x

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

  • Barratt Developments is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Barratt Developments's assets?
Raw Data
LSE:BDEV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in GBP £4.54
LSE:BDEV Share Price * LSE (2018-12-18) in GBP £4.39
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PB Ratio Median Figure of 28 Publicly-Listed Consumer Durables Companies 1.5x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,357 Publicly-Listed Companies 1.44x
LSE:BDEV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:BDEV Share Price ÷ Book Value per Share (both in GBP)

= 4.39 ÷ 4.54

0.97x

* Primary Listing of Barratt Developments.

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

  • Barratt Developments is good value based on assets compared to the GB Consumer Durables industry average.
X
Value checks
We assess Barratt Developments'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Barratt Developments has a total score of 6/6, 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.

BDEV Future Performance

 How is Barratt Developments expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

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
6.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Barratt Developments expected to grow at an attractive rate?
  • Barratt Developments's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Barratt Developments's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Barratt Developments'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
LSE:BDEV Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:BDEV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 6.7%
LSE:BDEV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 2%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
LSE:BDEV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:BDEV Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 5,187 698 826 12
2020-06-30 5,011 603 751 12
2019-06-30 4,934 513 711 14
LSE:BDEV Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-06-30 4,875 514 672
2018-03-31 4,848 438 651
2017-12-31 4,822 361 629
2017-09-30 4,736 375 623
2017-06-30 4,650 389 616
2017-03-31 4,413 413 594
2016-12-31 4,176 438 571
2016-09-30 4,206 545 561
2016-06-30 4,235 653 550
2016-03-31 4,147 509 536
2015-12-31 4,059 366 521
2015-09-30 3,909 275 485

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Barratt Developments's earnings are expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
  • Barratt Developments's revenue is expected to grow by 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
LSE:BDEV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Barratt Developments Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BDEV Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.81 0.90 0.75 8.00
2020-06-30 0.74 0.82 0.67 9.00
2019-06-30 0.70 0.75 0.66 9.00
LSE:BDEV Past Financials Data
Date (Data in GBP Millions) EPS *
2018-06-30 0.66
2018-03-31 0.65
2017-12-31 0.63
2017-09-30 0.62
2017-06-30 0.61
2017-03-31 0.59
2016-12-31 0.57
2016-09-30 0.56
2016-06-30 0.55
2016-03-31 0.54
2015-12-31 0.52
2015-09-30 0.49

*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.
  • Barratt Developments is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Barratt Developments'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.
Barratt Developments has a total score of 1/6, 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.

BDEV Past Performance

  How has Barratt Developments 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 Barratt Developments's growth in the last year to its industry (Consumer Durables).
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.
  • Barratt Developments has delivered over 20% year on year earnings growth in the past 5 years.
  • Barratt Developments's 1-year earnings growth is less than its 5-year average (9.1% vs 25.7%)
  • Barratt Developments's earnings growth has not exceeded the GB Consumer Durables industry average in the past year (9.1% vs 16.2%).
Earnings and Revenue History
Barratt Developments'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 Barratt Developments Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BDEV Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 4,874.80 671.70 145.70
2018-03-31 4,848.40 650.55 140.90
2017-12-31 4,822.00 629.40 136.10
2017-09-30 4,736.10 622.60 134.25
2017-06-30 4,650.20 615.80 132.40
2017-03-31 4,413.05 593.60 134.30
2016-12-31 4,175.90 571.40 136.20
2016-09-30 4,205.55 560.85 133.90
2016-06-30 4,235.20 550.30 131.60
2016-03-31 4,146.95 535.65 132.35
2015-12-31 4,058.70 521.00 133.10
2015-09-30 3,909.10 485.20 135.10
2015-06-30 3,759.50 449.40 137.10
2015-03-31 3,613.95 414.60 134.95
2014-12-31 3,468.40 379.80 132.80
2014-09-30 3,312.70 342.60 126.35
2014-06-30 3,157.00 305.40 119.90
2014-03-31 3,038.50 219.95 116.95
2013-12-31 2,920.00 134.50 114.00
2013-09-30 2,763.10 104.60 110.65
2013-06-30 2,606.20 74.70 107.30
2013-03-31 2,463.95 81.40 101.05
2012-12-31 2,321.70 88.10 94.80
2012-09-30 2,322.55 77.75 99.35
2012-06-30 2,323.40 67.40 103.90
2012-03-31 2,217.00 37.35 99.70
2011-12-31 2,110.60 7.30 95.50

*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.
  • Barratt Developments has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Barratt Developments used its assets less efficiently than the GB Consumer Durables industry average last year based on Return on Assets.
  • Barratt Developments has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Barratt Developments'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 Consumer Durables 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.
Barratt Developments has a total score of 2/6, 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.

BDEV Health

 How is Barratt Developments'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 Barratt Developments's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Barratt Developments is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Barratt Developments's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Barratt Developments'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 30x 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 Barratt Developments Company Filings, last reported 5 months ago.

LSE:BDEV Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 4,597.70 191.10 982.40
2018-03-31 4,597.70 191.10 982.40
2017-12-31 4,267.70 212.10 378.00
2017-09-30 4,267.70 212.10 378.00
2017-06-30 4,322.20 79.70 784.40
2017-03-31 4,322.20 79.70 784.40
2016-12-31 4,010.30 190.40 362.20
2016-09-30 4,010.30 190.40 362.20
2016-06-30 4,010.20 190.60 758.00
2016-03-31 4,010.20 190.60 758.00
2015-12-31 3,763.70 191.70 195.60
2015-09-30 3,763.70 191.70 195.60
2015-06-30 3,711.30 193.50 360.40
2015-03-31 3,711.30 193.50 360.40
2014-12-31 3,459.40 199.10 41.60
2014-09-30 3,459.40 199.10 41.60
2014-06-30 3,354.00 221.30 274.70
2014-03-31 3,354.00 221.30 274.70
2013-12-31 3,152.10 337.70 160.50
2013-09-30 3,152.10 337.70 160.50
2013-06-30 3,073.20 375.90 295.70
2013-03-31 3,073.20 375.90 295.70
2012-12-31 3,006.20 415.30 15.10
2012-09-30 3,006.20 415.30 15.10
2012-06-30 2,973.80 396.60 150.30
2012-03-31 2,973.80 396.60 150.30
2011-12-31 2,911.90 624.50 2.80
  • Barratt Developments's level of debt (4.2%) 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 (12.2% vs 4.2% today).
  • Debt is well covered by operating cash flow (269.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19x coverage).
X
Financial health checks
We assess Barratt Developments'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. Barratt Developments has a total score of 6/6, 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.

BDEV Dividends

 What is Barratt Developments'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
9.97%
Current annual income from Barratt Developments dividends. Estimated to be 10.7% next year.
If you bought £2,000 of Barratt Developments shares you are expected to receive £199 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?
  • Barratt Developments's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.07%).
  • Barratt Developments's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.5%).
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
LSE:BDEV 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 14 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 7.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 710 Stocks 4.4%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.1%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

LSE:BDEV Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.49 11.00
2020-06-30 0.47 12.00
2019-06-30 0.45 13.00
LSE:BDEV Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-09-17 0.438 8.574
2018-09-05 0.438 7.897
2018-02-21 0.430 7.961
2017-11-16 0.417 6.858
2017-02-22 0.320 5.395
2016-10-05 0.307 6.377
2016-09-07 0.307 6.296
2015-09-09 0.151 2.791
2014-10-06 0.103 2.014
2014-09-10 0.103 2.628
2014-02-27 0.064 1.713
2013-10-11 0.025 0.704
2009-09-23 0.000 0.000
2009-09-01 0.000 0.000
2009-01-15 0.000 0.000
2008-12-19 0.000 0.000

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 Barratt Developments's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Barratt Developments's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Barratt Developments afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Barratt Developments has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BDEV Management

 What is the CEO of Barratt Developments'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
David Thomas
COMPENSATION £2,811,000
AGE 55
TENURE AS CEO 3.4 years
CEO Bio

Mr. David Fraser Thomas has been Group Chief Executive Officer of Barratt Developments plc since July 1, 2015. Mr. Thomas served as a Group Finance Director at Barratt Developments plc from July 21, 2009 to June 30, 2015. He served as an Interim Chief Financial Officer of Barratt Developments plc since January 24, 2017 until June 22, 2017. Mr. Thomas served as Group Finance Director and Deputy Chief Executive of GAME Group plc from 2004 to 2009. Before joining GAME in March 2004, he served as Group Finance Director at Millennium and Copthorne Hotels plc from 1998 to 2004. Prior to this, he held senior financial roles with House of Fraser plc and Forte plc. He is a Non-Executive Director of the HBF and an Associate of the Institute of Chartered Accountants in England and Wales. He serves as Executive Director since July 21, 2009 for Barratt Developments plc. He serves as Director for Ward Homes Ltd.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Barratt Developments management team in years:

6.4
Average Tenure
55
Average Age
  • The average tenure for the Barratt Developments management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Thomas

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£3M
AGE
55
TENURE
3.4 yrs

Jessica White

TITLE
CFO & Executive Director
COMPENSATION
£1M
TENURE
1.5 yrs

Steven Boyes

TITLE
COO, Deputy CEO & Executive Director
COMPENSATION
£2M
AGE
58
TENURE
6.4 yrs

Michael Finn

TITLE
Group Design & Technical Director

Chloé Barnes

TITLE
Head of Investor Relations

Tim Collins

TITLE
Head of Corporate Communications

Jeremy Hipkiss

TITLE
Group Sales & Marketing Director

Rob Tansey

TITLE
Group Human Resources Director
TENURE
6.3 yrs

Gary Ennis

TITLE
Regional Managing Director of London & Southern
AGE
49
TENURE
12.9 yrs

Mike Roberts

TITLE
Regional Managing Director of Northern
TENURE
8.9 yrs
Board of Directors Tenure

Average tenure and age of the Barratt Developments board of directors in years:

3.3
Average Tenure
58
Average Age
  • The tenure for the Barratt Developments board of directors is about average.
Board of Directors

John Allan

TITLE
Non-Executive Chairman
COMPENSATION
£315K
AGE
69
TENURE
4.1 yrs

David Thomas

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£3M
AGE
55
TENURE
9.4 yrs

Jessica White

TITLE
CFO & Executive Director
COMPENSATION
£1M
TENURE
1.5 yrs

Steven Boyes

TITLE
COO, Deputy CEO & Executive Director
COMPENSATION
£2M
AGE
58
TENURE
17.4 yrs

Richard Akers

TITLE
Senior Independent Director
COMPENSATION
£81K
AGE
57
TENURE
2.1 yrs

Jock Lennox

TITLE
Non-Executive Director
COMPENSATION
£70K
AGE
62
TENURE
2.4 yrs

Nina Bibby

TITLE
Non-Executive Director
COMPENSATION
£60K
TENURE
6 yrs

Sharon White

TITLE
Independent Non-Executive Director
COMPENSATION
£35K
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Barratt Developments insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
17. Dec 18 Buy Jessica White Individual 17. Dec 18 17. Dec 18 10,000 £4.37 £43,690
20. Nov 18 Buy John Allan Individual 20. Nov 18 20. Nov 18 10,000 £4.80 £47,988
19. Jul 18 Buy Richard Akers Individual 19. Jul 18 19. Jul 18 10,000 £5.25 £52,512
11. Jul 18 Buy John Allan Individual 11. Jul 18 11. Jul 18 10,000 £4.92 £49,150
10. May 18 Buy John Allan Individual 10. May 18 10. May 18 5,000 £5.62 £28,076
22. Feb 18 Buy John Allan Individual 21. Feb 18 21. Feb 18 8,500 £5.68 £48,292
06. Mar 18 Buy John Allan Individual 05. Mar 18 05. Mar 18 9,000 £5.38 £48,383
X
Management checks
We assess Barratt Developments'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. Barratt Developments 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.

BDEV News

External News
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Simply Wall St News

Why Barratt Developments PLC’s (LON:BDEV) Return On Capital Employed Is Impressive

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Have Insiders Been Buying Barratt Developments PLC (LON:BDEV) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So before you buy or sell Barratt Developments PLC (LON:BDEV), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Barratt Developments.

Simply Wall St -

How To Take Advantage Of Barratt Developments PLC (LON:BDEV) In A Bear Market

High quality stocks such as Barratt Developments PLC has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … View our latest analysis for Barratt Developments. … Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain

Simply Wall St -

Why Barratt Developments PLC’s (LON:BDEV) Cash Is A Factor You Need To Consider

I will take you through Barratt Developments’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Barratt Developments’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … There are two methods I will use to evaluate the quality of Barratt Developments’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

Barratt Developments PLC (LON:BDEV) Is Trading At A 49.65% Discount

How far off is Barratt Developments PLC (LON:BDEV) from its intrinsic value? … by taking the foreast future cash flows of the company and discounting them back to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Where Barratt Developments PLC (LON:BDEV) Stands In Terms Of Earnings Growth Against Its Industry

After reading Barratt Developments PLC's (LON:BDEV) most recent earnings announcement (30 June 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … BDEV's trailing twelve-month earnings (from 30 June 2018) of UK£672m has. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 26%, indicating the rate at which BDEV is growing has slowed down

Simply Wall St -

Should You Be Holding Barratt Developments PLC (LON:BDEV)?

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Barratt Developments PLC (LON:BDEV) due to its excellent fundamentals in more than one area.

Simply Wall St -

What Should You Know About Barratt Developments plc's (LON:BDEV) Capital Returns?

and want to begin learning the link between Barratt Developments plc (LON:BDEV)’s return fundamentals and stock market performance. … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … To understand Barratt Developments’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Who Are The Largest Shareholders In Barratt Developments plc (LON:BDEV)?

In this analysis, my focus will be on developing a perspective on Barratt Developments plc’s (LON:BDEV) latest ownership structure, a less discussed, but important factor. … Ownership structure of a company has been found to affect share performance over time. … Check out our latest analysis for Barratt Developments

Simply Wall St -

Stocks Take A Hit: How Will Barratt Developments plc (LON:BDEV) Fare?

This is the best time to buy stocks like Barratt Developments plc at a discount. … See our latest analysis for Barratt Developments. … Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain

Simply Wall St -

BDEV Company Info

Map
Description

Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs residential properties, including apartments, penthouses, and communities; and develops and sells homes. The company offers homes under the Barratt Homes, David Wilson Homes, and Barratt London brands. It is also involved in the commercial development activities under the Wilson Bowden Developments brand. The company was founded in 1958 and is headquartered in Coalville, the United Kingdom.

Details
Name: Barratt Developments PLC
BDEV
Exchange: LSE
Founded: 1958
£4,397,658,974
1,013,285,478
Website: http://www.barrattdevelopments.co.uk
Address: Barratt Developments PLC
Barratt House,
Cartwright Way,
Coalville,
Leicestershire, LE67 1UF,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BDEV Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK BTDP.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 3BA Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE BDEVL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK BTDP.Y ADR Pink Sheets LLC US USD 06. Apr 2011
Number of employees
Current staff
Staff numbers
6,330
Barratt Developments employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/18 20:42
End of day share price update: 2018/12/18 00:00
Last estimates confirmation: 2018/12/17
Last earnings filing: 2018/09/17
Last earnings reported: 2018/06/30
Last annual earnings reported: 2018/06/30


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.