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Bovis Homes Group

LSE:BVS
Snowflake Description

Flawless balance sheet average dividend payer.

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

Bovis Homes Group PLC, together with its subsidiaries, operates as a builder of homes in the United Kingdom. The last earnings update was 69 days ago. More info.


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BVS Share Price and Events
7 Day Returns
0.4%
LSE:BVS
-1.8%
GB Consumer Durables
0.4%
GB Market
1 Year Returns
-17.8%
LSE:BVS
-15.9%
GB Consumer Durables
-3.7%
GB Market
BVS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bovis Homes Group (BVS) 0.4% -2.7% -12.1% -17.8% 9.6% 34%
GB Consumer Durables -1.8% -7.4% -11% -15.9% 4.3% 57.3%
GB Market 0.4% 0.3% 1.6% -3.7% 19% 3.4%
1 Year Return vs Industry and Market
  • BVS underperformed the Consumer Durables industry which returned -15.9% over the past year.
  • BVS underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -3.7% over the past year.
Price Volatility
BVS
Industry
5yr Volatility vs Market

BVS Value

 Is Bovis Homes Group 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 Bovis Homes Group 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 Bovis Homes Group.

LSE:BVS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.4%
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 LSE:BVS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.875 (1 + (1- 19%) (2.66%))
0.929
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.929 * 6.65%)
7.4%

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

The calculations below outline how an intrinsic value for Bovis Homes Group 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.

LSE:BVS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.4%)
2019 116.00 Analyst x1 108.00
2020 127.74 Analyst x3 110.74
2021 123.14 Analyst x2 99.39
2022 123.19 Est @ 0.04% 92.57
2023 123.68 Est @ 0.4% 86.54
2024 124.48 Est @ 0.65% 81.09
2025 125.50 Est @ 0.82% 76.12
2026 126.68 Est @ 0.94% 71.54
2027 127.98 Est @ 1.03% 67.29
2028 129.38 Est @ 1.09% 63.34
Present value of next 10 years cash flows £856.62
LSE:BVS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £129.38 × (1 + 1.23%) ÷ (7.4% – 1.23%)
£2,120.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £2,120.26 ÷ (1 + 7.4%)10
£1,037.99
LSE:BVS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £856.62 + £1,037.99
£1,894.61
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,894.61 / 134.41
£14.1
LSE:BVS Discount to Share Price
Calculation Result
Value per share (GBP) From above. £14.10
Current discount Discount to share price of £10.18
= -1 x (£10.18 - £14.10) / £14.10
27.8%

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

Current Discount
Amount off the current price Bovis Homes Group is available for.
Intrinsic value
28%
Share price is £10.18 vs Future cash flow value of £14.1
Current Discount Checks
For Bovis Homes Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bovis Homes Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bovis Homes Group's share price is below the future cash flow value, but not 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 Bovis Homes Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bovis Homes Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:BVS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £1.02
LSE:BVS Share Price ** LSE (2019-06-14) in GBP £10.18
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PE Ratio Median Figure of 26 Publicly-Listed Consumer Durables Companies 9.85x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.17x

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

** Primary Listing of Bovis Homes Group.

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

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

= 10.18 ÷ 1.02

10.01x

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

  • Bovis Homes Group is overvalued based on earnings compared to the GB Consumer Durables industry average.
  • Bovis Homes Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Bovis Homes Group's expected growth come at a high price?
Raw Data
LSE:BVS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
8.1%per year
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PEG Ratio Median Figure of 23 Publicly-Listed Consumer Durables Companies 1.68x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 576 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.01x ÷ 8.1%

1.24x

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

  • Bovis Homes Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bovis Homes Group's assets?
Raw Data
LSE:BVS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £7.89
LSE:BVS Share Price * LSE (2019-06-14) in GBP £10.18
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PB Ratio Median Figure of 28 Publicly-Listed Consumer Durables Companies 1.58x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,371 Publicly-Listed Companies 1.48x
LSE:BVS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10.18 ÷ 7.89

1.29x

* Primary Listing of Bovis Homes Group.

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

  • Bovis Homes Group is good value based on assets compared to the GB Consumer Durables industry average.
X
Value checks
We assess Bovis Homes Group'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. Bovis Homes Group 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.

BVS Future Performance

 How is Bovis Homes Group expected to perform in the next 1 to 3 years based on estimates from 11 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
8.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bovis Homes Group expected to grow at an attractive rate?
  • Bovis Homes Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Bovis Homes Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Bovis Homes Group'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:BVS Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:BVS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 8.1%
LSE:BVS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 3%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.7%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:BVS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:BVS Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,161 206 173 10
2020-12-31 1,128 251 168 11
2019-12-31 1,095 167 152 11
LSE:BVS Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 1,061 131 137
2018-09-30 1,047 129 121
2018-06-30 1,033 127 105
2018-03-31 1,030 141 98
2017-12-31 1,028 156 91
2017-09-30 1,049 95 99
2017-06-30 1,070 34 106
2017-03-31 1,062 48 114
2016-12-31 1,055 62 121
2016-09-30 1,032 85 127
2016-06-30 1,009 108 134
2016-03-31 978 92 131

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bovis Homes Group's earnings are expected to grow by 8.1% yearly, however this is not considered high growth (20% yearly).
  • Bovis Homes Group's revenue is expected to grow by 3% 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:BVS 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 11 Analyst Estimates (S&P Global) See Below

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

LSE:BVS Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.27 1.31 1.13 6.00
2020-12-31 1.20 1.27 0.96 7.00
2019-12-31 1.07 1.14 0.95 7.00
LSE:BVS Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 1.02
2018-09-30 0.90
2018-06-30 0.78
2018-03-31 0.73
2017-12-31 0.68
2017-09-30 0.74
2017-06-30 0.79
2017-03-31 0.85
2016-12-31 0.90
2016-09-30 0.95
2016-06-30 1.00
2016-03-31 0.98

*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.
  • Bovis Homes Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bovis Homes Group'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.
Bovis Homes Group 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.

BVS Past Performance

  How has Bovis Homes Group 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 Bovis Homes Group'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.
  • Bovis Homes Group's year on year earnings growth rate has been positive over the past 5 years.
  • Bovis Homes Group's 1-year earnings growth exceeds its 5-year average (49.6% vs 5.9%)
  • Bovis Homes Group's earnings growth has exceeded the GB Consumer Durables industry average in the past year (49.6% vs 11.4%).
Earnings and Revenue History
Bovis Homes Group'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 Bovis Homes Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BVS 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 1,061.40 136.57 56.61
2018-09-30 1,047.03 121.02 55.92
2018-06-30 1,032.66 105.46 55.22
2018-03-31 1,030.44 98.38 56.01
2017-12-31 1,028.22 91.30 56.80
2017-09-30 1,049.01 98.87 55.33
2017-06-30 1,069.80 106.45 53.86
2017-03-31 1,062.30 113.65 51.32
2016-12-31 1,054.80 120.85 48.79
2016-09-30 1,031.70 127.37 53.72
2016-06-30 1,008.60 133.90 58.65
2016-03-31 977.55 130.95 63.66
2015-12-31 946.50 128.01 68.67
2015-09-30 892.26 118.81 66.68
2015-06-30 838.01 109.61 64.69
2015-03-31 823.69 107.41 62.11
2014-12-31 809.37 105.21 59.52
2014-09-30 751.51 94.74 56.94
2014-06-30 693.65 84.28 54.36
2014-03-31 624.82 72.17 50.99
2013-12-31 556.00 60.07 47.62
2013-09-30 497.84 51.58 45.22
2013-06-30 439.67 43.09 42.83
2013-03-31 432.60 41.64 41.53
2012-12-31 425.53 40.19 40.24
2012-09-30 413.51 34.54 39.13
2012-06-30 401.49 28.89 38.03

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

BVS Health

 How is Bovis Homes Group'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 Bovis Homes Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bovis Homes Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bovis Homes Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bovis Homes Group'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 42.5x 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 Bovis Homes Group Company Filings, last reported 5 months ago.

LSE:BVS Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,061.07 36.40 163.22
2018-09-30 1,061.07 36.40 163.22
2018-06-30 1,061.27 35.81 78.60
2018-03-31 1,061.27 35.81 78.60
2017-12-31 1,056.58 25.21 170.06
2017-09-30 1,056.58 25.21 170.06
2017-06-30 1,014.11 84.95 76.39
2017-03-31 1,014.11 84.95 76.39
2016-12-31 1,015.93 0.00 38.55
2016-09-30 1,015.93 0.00 38.55
2016-06-30 965.05 25.00 17.42
2016-03-31 965.05 25.00 17.42
2015-12-31 957.76 2.00 31.99
2015-09-30 957.76 2.00 31.99
2015-06-30 894.61 86.98 28.18
2015-03-31 894.61 86.98 28.18
2014-12-31 879.12 47.01 52.26
2014-09-30 879.12 47.01 52.26
2014-06-30 835.40 102.03 56.71
2014-03-31 835.40 102.03 56.71
2013-12-31 810.26 30.06 12.03
2013-09-30 810.26 30.06 12.03
2013-06-30 770.22 60.10 11.71
2013-03-31 770.22 60.10 11.71
2012-12-31 758.85 5.61 31.52
2012-09-30 758.85 5.61 31.52
2012-06-30 731.81 6.09 27.79
  • Bovis Homes Group's level of debt (3.4%) 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 (3.8% vs 3.4% today).
  • Debt is well covered by operating cash flow (359%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 28.1x coverage).
X
Financial health checks
We assess Bovis Homes Group'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. Bovis Homes Group 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.

BVS Dividends

 What is Bovis Homes Group'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
5.6%
Current annual income from Bovis Homes Group dividends. Estimated to be 9.74% next year.
If you bought £2,000 of Bovis Homes Group shares you are expected to receive £112 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?
  • Bovis Homes Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • Bovis Homes Group's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.43%).
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:BVS 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 11 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 7.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.3%
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%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

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

LSE:BVS Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.92 11.00
2020-12-31 1.02 13.00
2019-12-31 1.02 13.00
LSE:BVS Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-08 0.570 5.416
2019-02-28 0.570 5.108
2018-03-01 0.475 4.440
2017-09-07 0.475 4.230
2017-05-02 0.450 4.696
2016-08-15 0.413 4.916
2016-03-22 0.400 4.681
2016-02-22 0.400 4.361
2015-03-23 0.460 4.547
2015-02-23 0.460 4.806
2014-02-24 0.135 1.645
2013-08-19 0.100 1.274
2013-03-22 0.090 1.174
2013-02-25 0.090 1.353
2012-08-20 0.065 1.196
2012-03-27 0.050 1.091
2012-02-27 0.050 0.988
2011-04-05 0.030 0.697
2011-03-14 0.030 0.675
2010-03-08 0.000 0.000
2010-03-01 0.000 0.000
2009-08-24 0.000 0.000

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

  • Whilst dividend payments have been stable, Bovis Homes Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Bovis Homes Group only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Bovis Homes Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Bovis Homes Group'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 Bovis Homes Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bovis Homes Group has a total score of 4/6, see the detailed checks below.


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

BVS Management

 What is the CEO of Bovis Homes Group'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
Greg Fitzgerald
COMPENSATION £2,180,000
AGE 54
TENURE AS CEO 2.2 years
CEO Bio

Mr. Gerald Fitzgerald, also known as Greg, has been the Chief Executive Officer and Director of Bovis Homes Group PLC since April 18, 2017. Mr. Fitzgerald serves as Vice Chairman of the Board at Bovis Homes Group PLC. He served as the Chairman of the Executive Board and Member of Executive Board of Galliford Try plc until December 31, 2015. Mr. Fitzgerald served as the Chief Executive Officer of Galliford Try plc from July 1, 2005 to October 1, 2015. Mr. Fitzgerald served as Managing Director for House building division since 2003 and Chairman - housebuilding business - south west of Galliford Try PLC. He co-founded Linden South West Limited in 1992 and served as its Managing Director since 1997. He serves as Non-executive Chairman of Ardent Hire Solutions Limited and Baker Estates Limited. He served as Non Executive Chairman of Galliford Try plc from December 31, 2015 to November 11, 2016 and also served as its Executive Chairman since October 21, 2014 until December 31, 2015. Mr. Fitzgerald served as a Non-Executive Director of Galliford Try Plc since December 31, 2015 November 11, 2016 and served as its Executive Director since July 1, 2003 until December 31, 2015. Mr. Fitzgerald served as a Non Executive Director at National House Building Council (NHBC) since June 2010 until July 2016. He was a founder and later Managing Director of Midas Homes, which was acquired by Galliford Try Plc in 1997. As Chief Executive, he transformed Galliford Try Plc from a building contractor into a well-respected house building and construction business, which included the acquisition of Linden Homes in 2007. His Skills: Leadership and strategic focus in house building and construction industry, business growth and value creation.

CEO Compensation
  • Greg's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Greg's remuneration is higher 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 Bovis Homes Group management team in years:

8.7
Average Tenure
54
Average Age
  • The average tenure for the Bovis Homes Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Greg Fitzgerald

TITLE
Vice Chairman of the Board & CEO
COMPENSATION
£2M
AGE
54
TENURE
2.2 yrs

Earl Sibley

TITLE
Group Finance Director & Executive Director
COMPENSATION
£682K
AGE
46
TENURE
4.2 yrs

Susie Bell

TITLE
Head of Investor Relations

Kevin Wilkins

TITLE
Group Marketing Director
AGE
52
TENURE
13.9 yrs

Andrew Apps

TITLE
Managing Director of Retirement Living
AGE
63

Brian Johnson

TITLE
Managing Director of South Midlands Region
AGE
70
TENURE
13.4 yrs

Terence Hyldon

TITLE
Managing Director of Northern Region
AGE
64
TENURE
13.3 yrs

Darrell White

TITLE
Divisional Chairman of West Division
AGE
46
TENURE
1.4 yrs

James Watson

TITLE
Divisional Chairman of East Division
AGE
45
TENURE
1.4 yrs

Martin Trevor Palmer

TITLE
Group Company Secretary
AGE
59
TENURE
17.5 yrs
Board of Directors Tenure

Average tenure and age of the Bovis Homes Group board of directors in years:

2.6
Average Tenure
57
Average Age
  • The average tenure for the Bovis Homes Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ian Tyler

TITLE
Non-Executive Chairman
COMPENSATION
£170K
AGE
58
TENURE
5.6 yrs

Greg Fitzgerald

TITLE
Vice Chairman of the Board & CEO
COMPENSATION
£2M
AGE
54

Earl Sibley

TITLE
Group Finance Director & Executive Director
COMPENSATION
£682K
AGE
46
TENURE
4.2 yrs

Ralph Findlay

TITLE
Senior Independent Director
COMPENSATION
£64K
AGE
57
TENURE
1.1 yrs

Nigel Keen

TITLE
Independent Non-Executive Director
COMPENSATION
£54K
AGE
56
TENURE
2.6 yrs

Chris Browne

TITLE
Independent Non-Executive Director
COMPENSATION
£49K
AGE
58
TENURE
4.8 yrs

Mike Stansfield

TITLE
Independent Non-Executive Director
COMPENSATION
£49K
AGE
62
TENURE
1.6 yrs

Katherine Innes Ker

TITLE
Independent Non-Executive Director
COMPENSATION
£11K
AGE
57
TENURE
0.7 yrs

John Altham

TITLE
Director of Bovis Homes
AGE
54
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 (£)
30. Nov 18 Buy Gerald Fitzgerald Individual 29. Nov 18 29. Nov 18 15,616 £8.92 £139,228
19. Jun 18 Buy Earl Sibley Individual 18. Jun 18 18. Jun 18 12 £12.40 £149
19. Jun 18 Buy Martin Trevor Palmer Individual 18. Jun 18 18. Jun 18 12 £12.40 £149
X
Management checks
We assess Bovis Homes Group'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. Bovis Homes Group 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.

BVS News

Simply Wall St News

Are Investors Undervaluing Bovis Homes Group PLC (LON:BVS) By 28%?

We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (£, Millions) £116.00 £127.74 £123.14 £123.19 £123.68 £124.48 £125.50 £126.68 £127.98 £129.38 Growth Rate Estimate Source Analyst x1 Analyst x3 Analyst x2 Est @ 0.04% Est @ 0.4% Est @ 0.65% Est @ 0.82% Est @ 0.94% Est @ 1.03% Est @ 1.09% Present Value (£, Millions) Discounted @ 7.39% £108.02 £110.76 £99.42 £92.62 £86.59 £81.15 £76.19 £71.61 £67.37 £63.41 Present Value of 10-year Cash Flow (PVCF)= £857.14m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … LSE:BVS Intrinsic value, June 13th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Bovis Homes Group PLC (LON:BVS): Commentary On Fundamentals

For those interested in understanding where the figures come from and want to see the analysis, take a look at the report on Bovis Homes Group here. … LSE:BVS Historical Dividend Yield, June 5th 2019 Next Steps: For Bovis Homes Group, I've put together three pertinent aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for BVS’s future growth? … Take a look at our free research report of analyst consensus for BVS’s outlook.

Simply Wall St -

Why Bovis Homes Group PLC's (LON:BVS) High P/E Ratio Isn't Necessarily A Bad Thing

We'll look at Bovis Homes Group PLC's (LON:BVS) P/E ratio and reflect on what it tells us about the company's share price. … Bovis Homes Group has a price to earnings ratio of 10.41, based on the last twelve months. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Bovis Homes Group: P/E of 10.41 = £10.58 ÷ £1.02 (Based on the year to December 2018.) Is A High P/E Ratio Good?

Simply Wall St -

Want To Invest In Bovis Homes Group PLC (LON:BVS)? Here's How It Performed Lately

Below, I will examine Bovis Homes Group PLC's (LON:BVS) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Check out our latest analysis for Bovis Homes Group. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 5.9%, indicating the rate at which BVS is growing has accelerated

Simply Wall St -

What Does Bovis Homes Group PLC's (LON:BVS) P/E Ratio Tell You?

We'll apply a basic P/E ratio analysis to Bovis Homes Group PLC's (LON:BVS), to help you decide if the stock is worth further research. … Bovis Homes Group has a price to earnings ratio of 11.27, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Bovis Homes Group PLC (LON:BVS): What We Can Expect From This Growth Stock

Looking at Bovis Homes Group PLC's (LON:BVS) earnings update on 31 December 2018, … it seems that analyst forecasts are fairly optimistic, … the past 5-year average growth rate of 5.9%.

Simply Wall St -

Based On Its ROE, Is Bovis Homes Group PLC (LON:BVS) A High Quality Stock?

Bovis Homes Group has a ROE of 13%, based on the last twelve months. … That means that for every £1 worth of shareholders' equity, it generated £0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Bovis Homes Group PLC (LON:BVS) A Great Dividend Stock?

Historically, Bovis Homes Group PLC (LON:BVS) has paid a dividend to shareholders. … Does Bovis Homes Group tick all the boxes of a great dividend stock? … View our latest analysis for Bovis Homes Group

Simply Wall St -

What Does Bovis Homes Group PLC's (LON:BVS) Share Price Indicate?

Bovis Homes Group PLC (LON:BVS), which is in the consumer durables business, and is based in United Kingdom,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine Bovis Homes Group’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

If You Had Bought Bovis Homes Group (LON:BVS) Stock Five Years Ago, You Could Pocket A 25% Gain Today

For example, long term Bovis Homes Group PLC (LON:BVS) shareholders have enjoyed a 25% share price rise over the last half decade, well in excess of the market return of around 0.6% (not including dividends). … Over half a decade, Bovis Homes Group managed to grow its earnings per share at 18% a year. … Dive deeper into the earnings by checking this interactive graph of Bovis Homes Group's earnings, revenue and cash flow.

Simply Wall St -

BVS Company Info

Description

Bovis Homes Group PLC, together with its subsidiaries, operates as a builder of homes in the United Kingdom. The company offers two-bed to six-bed family homes. As of December 31, 2017, it had a consented land bank of 17,096 plots. The company was founded in 1885 and is headquartered in West Malling, the United Kingdom.

Details
Name: Bovis Homes Group PLC
BVS
Exchange: LSE
Founded: 1885
£1,368,321,601
134,412,731
Website: http://www.bovishomesgroup.co.uk
Address: Bovis Homes Group PLC
11 Tower View,
Kings Hill,
West Malling,
Kent, ME19 4UY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BVS Ordinary Shares London Stock Exchange GB GBP 09. Dec 1997
OTCPK BVHM.F Ordinary Shares Pink Sheets LLC US USD 09. Dec 1997
DB 44B Ordinary Shares Deutsche Boerse AG DE EUR 09. Dec 1997
BATS-CHIXE BVSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 09. Dec 1997
Number of employees
Current staff
Staff numbers
1,227
Bovis Homes Group employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 20:39
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/01
Last earnings filing: 2019/04/08
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.