Market Cap
UK£2.9b
Last Updated
2020/10/28 21:41 UTC
Data Sources
Company Financials +
Executive Summary
Bellway p.l.c., together with its subsidiaries, engages in the house building business in the United Kingdom. More Details
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet average dividend payer.
Similar Companies
Share Price & News
How has Bellway's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BWY has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-7.1%
BWY
-4.6%
GB Consumer Durables
-3.4%
GB Market
1 Year Return
-27.0%
BWY
-20.6%
GB Consumer Durables
-19.7%
GB Market
Return vs Industry: BWY underperformed the UK Consumer Durables industry which returned -20.6% over the past year.
Return vs Market: BWY underperformed the UK Market which returned -19.7% over the past year.
Shareholder returns
| BWY | Industry | Market | |
|---|---|---|---|
| 7 Day | -7.1% | -4.6% | -3.4% |
| 30 Day | -0.7% | -0.4% | -4.5% |
| 90 Day | -9.4% | -4.3% | -5.1% |
| 1 Year | -24.8%-27.0% | -19.4%-20.6% | -16.6%-19.7% |
| 3 Year | -28.0%-36.1% | -17.1%-28.2% | -12.8%-23.6% |
| 5 Year | 16.2%-4.6% | 18.5%-7.9% | 9.9%-14.9% |
Price Volatility Vs. Market
How volatile is Bellway's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Are Investors Undervaluing Bellway p.l.c. (LON:BWY) By 29%?2 weeks ago | Simply Wall St
What Kind Of Investors Own Most Of Bellway p.l.c. (LON:BWY)?1 month ago | Simply Wall St
When Should You Buy Bellway p.l.c. (LON:BWY)?Valuation
Is Bellway undervalued compared to its fair value and its price relative to the market?
14.2%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BWY (£23.39) is trading below our estimate of fair value (£27.27)
Significantly Below Fair Value: BWY is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BWY is poor value based on its PE Ratio (14.9x) compared to the GB Consumer Durables industry average (13.7x).
PE vs Market: BWY is good value based on its PE Ratio (14.9x) compared to the UK market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: BWY is good value based on its PEG Ratio (0.7x)
Price to Book Ratio
PB vs Industry: BWY's PB Ratio (1x) is in line with the GB Consumer Durables industry average.
Next Steps
Future Growth
How is Bellway forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
22.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BWY's forecast earnings growth (22.9% per year) is above the savings rate (1.2%).
Earnings vs Market: BWY's earnings (22.9% per year) are forecast to grow slower than the UK market (23.9% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BWY's revenue (10.7% per year) is forecast to grow faster than the UK market (5.8% per year).
High Growth Revenue: BWY's revenue (10.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BWY's Return on Equity is forecast to be low in 3 years time (11.8%).
Next Steps
Past Performance
How has Bellway performed over the past 5 years?
5.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BWY has a large one-off loss of £72.6M impacting its July 31 2020 financial results.
Growing Profit Margin: BWY's current net profit margins (8.7%) are lower than last year (16.8%).
Past Earnings Growth Analysis
Earnings Trend: BWY's earnings have grown by 5.3% per year over the past 5 years.
Accelerating Growth: BWY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BWY had negative earnings growth (-64.2%) over the past year, making it difficult to compare to the Consumer Durables industry average (-41.5%).
Return on Equity
High ROE: BWY's Return on Equity (6.4%) is considered low.
Next Steps
Financial Health
How is Bellway's financial position?
Financial Position Analysis
Short Term Liabilities: BWY's short term assets (£4.0B) exceed its short term liabilities (£955.8M).
Long Term Liabilities: BWY's short term assets (£4.0B) exceed its long term liabilities (£133.8M).
Debt to Equity History and Analysis
Debt Level: BWY's debt to equity ratio (1.2%) is considered satisfactory.
Reducing Debt: BWY's debt to equity ratio has reduced from 5.1% to 1.2% over the past 5 years.
Debt Coverage: BWY's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: BWY's interest payments on its debt are well covered by EBIT (24x coverage).
Balance Sheet
Next Steps
Dividend
What is Bellway current dividend yield, its reliability and sustainability?
2.14%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: BWY's dividend (2.14%) is higher than the bottom 25% of dividend payers in the UK market (1.87%).
High Dividend: BWY's dividend (2.14%) is low compared to the top 25% of dividend payers in the UK market (5.39%).
Stability and Growth of Payments
Stable Dividend: BWY's dividend payments have been volatile in the past 10 years.
Growing Dividend: BWY's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.9%), BWY's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BWY's dividends in 3 years are forecast to be well covered by earnings (37% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.7yrs
Average management tenure
CEO
Jason Honeyman
2.17yrs
Tenure
UK£1,205,978
Compensation
Mr. Jason Honeyman is the Chief Executive Officer of Bellway p.l.c. since August 1, 2018 and its Executive Director since September 1, 2017. Mr. Honeyman was the Chief Operating Officer of Bellway p.l.c. s ...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD1.57M) is about average for companies of similar size in the UK market ($USD2.04M).
Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 2.17yrs | UK£1.21m | 0.018% £ 507.8k | |
| Group Finance Director & Executive Director | 8.67yrs | UK£1.01m | 0.057% £ 1.6m | |
| Group General Counsel & Company Secretary | 4.67yrs | no data | no data |
4.7yrs
Average Tenure
Experienced Management: BWY's management team is considered experienced (4.7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director | 2.17yrs | UK£1.21m | 0.018% £ 507.8k | |
| Group Finance Director & Executive Director | 8.67yrs | UK£1.01m | 0.057% £ 1.6m | |
| Independent Non-Executive Director | 2.67yrs | UK£64.42k | no data | |
| Independent Non-Executive Chairman | 1.83yrs | UK£162.84k | 0.013% £ 385.3k | |
| Senior Independent Non-Executive Director | 1.92yrs | UK£65.70k | 0.0020% £ 57.7k | |
| Independent Non-Executive Director | 3yrs | UK£68.20k | 0.00038% £ 11.0k |
2.8yrs
Average Tenure
60yo
Average Age
Experienced Board: BWY's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
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.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Bellway p.l.c.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Bellway p.l.c.
- Ticker: BWY
- Exchange: LSE
- Founded: 1978
- Industry: Homebuilding
- Sector: Consumer Durables
- Market Cap: UK£2.884b
- Shares outstanding: 123.29m
- Website: https://www.bellwayplc.co.uk
Number of Employees
Location
- Bellway p.l.c.
- Seaton Burn House
- Dudley Lane
- Newcastle upon Tyne
- Tyne and Wear
- NE13 6BE
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BWY | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Jan 1994 |
| 41B | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1994 |
| BLWY.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1994 |
| BWYL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Jan 1994 |
| BLWY.Y | OTCPK (Pink Sheets LLC) | ADR | US | USD | Apr 2011 |
Biography
Bellway p.l.c., together with its subsidiaries, engages in the house building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family ho ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/28 21:41 |
| End of Day Share Price | 2020/10/28 00:00 |
| Earnings | 2020/07/31 |
| Annual Earnings | 2020/07/31 |
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.