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BWY

BellwayLSE:BWY Stock Report

Market Cap

UK£3.8b

7D

-3.6%

1Y

3.6%

Updated

30 Nov, 2021

Data

Company Financials +
BWY fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance4/6
Financial Health5/6
Dividends4/6

BWY Stock Overview

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom.

Bellway Competitors

Persimmon

LSE:PSN

UK£8.7b

Barratt Developments

LSE:BDEV

UK£7.1b

Taylor Wimpey

LSE:TW.

UK£5.7b

Berkeley Group Holdings

LSE:BKG

UK£4.8b

Price History & Performance

Summary of all time highs, changes and price drops for Bellway
Historical stock prices
Current Share PriceUK£31.18
52 Week HighUK£37.56
52 Week LowUK£26.51
Beta1.45
1 Month Change-5.89%
3 Month Change-11.29%
1 Year Change3.59%
3 Year Change24.62%
5 Year Change29.49%
Change since IPO1,063.43%

Recent News & Updates

Nov 20
Calculating The Fair Value Of Bellway p.l.c. (LON:BWY)

Calculating The Fair Value Of Bellway p.l.c. (LON:BWY)

Today we will run through one way of estimating the intrinsic value of Bellway p.l.c. ( LON:BWY ) by taking the...

Oct 22
Should You Investigate Bellway p.l.c. (LON:BWY) At UK£32.18?

Should You Investigate Bellway p.l.c. (LON:BWY) At UK£32.18?

While Bellway p.l.c. ( LON:BWY ) might not be the most widely known stock at the moment, it received a lot of attention...

Oct 22
Bellway's (LON:BWY) Upcoming Dividend Will Be Larger Than Last Year's

Bellway's (LON:BWY) Upcoming Dividend Will Be Larger Than Last Year's

Bellway p.l.c. ( LON:BWY ) has announced that it will be increasing its dividend on the 12th of January to UK£0.82...

Shareholder Returns

BWYGB Consumer DurablesGB Market
7D-3.6%-1.9%-2.6%
1Y3.6%0.6%10.9%

Return vs Industry: BWY underperformed the UK Consumer Durables industry which returned 7.1% over the past year.

Return vs Market: BWY underperformed the UK Market which returned 13.8% over the past year.

Price Volatility

Is BWY's price volatile compared to industry and market?
BWY volatility
BWY Average Weekly Movement3.6%
Consumer Durables Industry Average Movement3.6%
Market Average Movement4.9%
10% most volatile stocks in GB Market9.8%
10% least volatile stocks in GB Market2.5%

Stable Share Price: BWY is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: BWY's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19782,908Jason Honeymanhttps://www.bellwayplc.co.uk

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway and Ashberry brands.

Bellway Fundamentals Summary

How do Bellway's earnings and revenue compare to its market cap?
BWY fundamental statistics
Market CapUK£3.85b
Earnings (TTM)UK£390.70m
Revenue (TTM)UK£3.12b

9.8x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BWY income statement (TTM)
RevenueUK£3.12b
Cost of RevenueUK£2.47b
Gross ProfitUK£652.30m
ExpensesUK£261.60m
EarningsUK£390.70m

Last Reported Earnings

Jul 31, 2021

Next Earnings Date

Mar 29, 2022

Earnings per share (EPS)3.17
Gross Margin20.89%
Net Profit Margin12.51%
Debt/Equity Ratio4.0%

How did BWY perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

37%

Payout Ratio

Does BWY pay a reliable dividends?

See BWY dividend history and benchmarks
When do you need to buy BWY by to receive an upcoming dividend?
Bellway dividend dates
Ex Dividend DateDec 02 2021
Dividend Pay DateJan 12 2022
Days until Ex dividend1 day
Days until Dividend pay date42 days

Does BWY pay a reliable dividends?

See BWY dividend history and benchmarks

Valuation

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

8.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BWY (£31.18) is trading below our estimate of fair value (£34.08)

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 good value based on its PE Ratio (9.8x) compared to the UK Consumer Durables industry average (12.3x).

PE vs Market: BWY is good value based on its PE Ratio (9.8x) compared to the UK market (19x).


Price to Earnings Growth Ratio

PEG Ratio: BWY is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: BWY is good value based on its PB Ratio (1.2x) compared to the GB Consumer Durables industry average (1.4x).


Future Growth

How is Bellway forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

8.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BWY's forecast earnings growth (8.4% per year) is above the savings rate (0.9%).

Earnings vs Market: BWY's earnings (8.4% per year) are forecast to grow slower than the UK market (12.6% per year).

High Growth Earnings: BWY's earnings are forecast to grow, but not significantly.

Revenue vs Market: BWY's revenue (6.1% per year) is forecast to grow faster than the UK market (4.9% per year).

High Growth Revenue: BWY's revenue (6.1% 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 (12.5%).


Past Performance

How has Bellway performed over the past 5 years?

-8.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BWY has high quality earnings.

Growing Profit Margin: BWY's current net profit margins (12.5%) are higher than last year (8.7%).


Past Earnings Growth Analysis

Earnings Trend: BWY's earnings have declined by 8.3% per year over the past 5 years.

Accelerating Growth: BWY's earnings growth over the past year (102.5%) exceeds its 5-year average (-8.3% per year).

Earnings vs Industry: BWY earnings growth over the past year (102.5%) exceeded the Consumer Durables industry 57.9%.


Return on Equity

High ROE: BWY's Return on Equity (11.9%) is considered low.


Financial Health

How is Bellway's financial position?


Financial Position Analysis

Short Term Liabilities: BWY's short term assets (£4.6B) exceed its short term liabilities (£1.1B).

Long Term Liabilities: BWY's short term assets (£4.6B) exceed its long term liabilities (£316.9M).


Debt to Equity History and Analysis

Debt Level: BWY has more cash than its total debt.

Reducing Debt: BWY's debt to equity ratio has increased from 1.8% to 4% over the past 5 years.

Debt Coverage: BWY's debt is well covered by operating cash flow (332.7%).

Interest Coverage: BWY's interest payments on its debt are well covered by EBIT (47.9x coverage).


Balance Sheet


Dividend

What is Bellway current dividend yield, its reliability and sustainability?

3.77%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BWY's dividend (3.77%) is higher than the bottom 25% of dividend payers in the UK market (1.37%).

High Dividend: BWY's dividend (3.77%) is low compared to the top 25% of dividend payers in the UK market (4.17%).


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 (37.1%), 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 (34.6% payout ratio).


Next Steps

Management

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

5.7yrs

Average management tenure


CEO

Jason Honeyman

3.25yrs

Tenure

UK£2,021,062

Compensation

Mr. Jason M. Honeyman has been Group 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 Bellw...


CEO Compensation Analysis

Compensation vs Market: Jason's total compensation ($USD2.68M) is about average for companies of similar size in the UK market ($USD2.16M).

Compensation vs Earnings: Jason's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: BWY's management team is seasoned and experienced (5.7 years average tenure).


Board Members

Experienced Board: BWY's board of directors are considered experienced (3.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BWY insiders have only sold shares 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 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£3.847b
  • Shares outstanding: 123.39m
  • Website: https://www.bellwayplc.co.uk

Number of Employees


Location

  • Bellway p.l.c.
  • Woolsington House
  • Woolsington
  • Newcastle upon Tyne
  • Tyne and Wear
  • NE13 8BF
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/30 21:38
End of Day Share Price2021/11/30 00:00
Earnings2021/07/31
Annual Earnings2021/07/31


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.