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Countryside Properties

LSE:CSP
Snowflake Description

Very undervalued with flawless balance sheet.

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

Countryside Properties PLC operates as a home builder and urban regeneration partner in the United Kingdom. The last earnings update was 7 days ago. More info.


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CSP Share Price and Events
7 Day Returns
-6.7%
LSE:CSP
-4.2%
GB Consumer Durables
0.5%
GB Market
1 Year Returns
-19.6%
LSE:CSP
-16.1%
GB Consumer Durables
-5.4%
GB Market
CSP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Countryside Properties (CSP) -6.7% -11.2% -3.3% -19.6% 9.5% -
GB Consumer Durables -4.2% -9% -4.7% -16.1% -2.2% 57.9%
GB Market 0.5% -1.7% 2.1% -5.4% 13.8% 1.8%
1 Year Return vs Industry and Market
  • CSP underperformed the Consumer Durables industry which returned -16.1% over the past year.
  • CSP underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.4% over the past year.
Price Volatility
CSP
Industry
5yr Volatility vs Market

CSP Value

 Is Countryside Properties 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 Countryside Properties 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 Countryside Properties.

LSE:CSP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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:CSP
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 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.897 (1 + (1- 19%) (3.94%))
0.95
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.95 * 6.65%)
7.55%

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

The calculations below outline how an intrinsic value for Countryside Properties 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:CSP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.55%)
2019 54.00 Analyst x2 50.21
2020 109.00 Analyst x2 94.24
2021 134.50 Analyst x2 108.13
2022 154.73 Est @ 15.04% 115.66
2023 171.59 Est @ 10.9% 119.26
2024 185.30 Est @ 7.99% 119.76
2025 196.36 Est @ 5.96% 118.00
2026 205.28 Est @ 4.54% 114.70
2027 212.56 Est @ 3.55% 110.44
2028 218.62 Est @ 2.85% 105.62
Present value of next 10 years cash flows £1,056.03
LSE:CSP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £218.62 × (1 + 1.23%) ÷ (7.55% – 1.23%)
£3,502.12
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £3,502.12 ÷ (1 + 7.55%)10
£1,691.92
LSE:CSP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £1,056.03 + £1,691.92
£2,747.95
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £2,747.95 / 446.84
£6.15
LSE:CSP Discount to Share Price
Calculation Result
Value per share (GBP) From above. £6.15
Current discount Discount to share price of £3.01
= -1 x (£3.01 - £6.15) / £6.15
51.1%

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

Current Discount
Amount off the current price Countryside Properties is available for.
Intrinsic value
>50%
Share price is £3.01 vs Future cash flow value of £6.15
Current Discount Checks
For Countryside Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Countryside Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Countryside Properties'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 Countryside Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Countryside Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:CSP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £0.33
LSE:CSP Share Price ** LSE (2019-05-23) in GBP £3.01
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PE Ratio Median Figure of 26 Publicly-Listed Consumer Durables Companies 9.77x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.47x

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

** Primary Listing of Countryside Properties.

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

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

= 3.01 ÷ 0.33

9.21x

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

  • Countryside Properties is good value based on earnings compared to the GB Consumer Durables industry average.
  • Countryside Properties is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Countryside Properties's expected growth come at a high price?
Raw Data
LSE:CSP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
13.9%per year
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PEG Ratio Median Figure of 23 Publicly-Listed Consumer Durables Companies 1.15x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 574 Publicly-Listed Companies 1.46x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.21x ÷ 13.9%

0.66x

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

  • Countryside Properties is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Countryside Properties's assets?
Raw Data
LSE:CSP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £1.83
LSE:CSP Share Price * LSE (2019-05-23) in GBP £3.01
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry PB Ratio Median Figure of 28 Publicly-Listed Consumer Durables Companies 1.69x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,369 Publicly-Listed Companies 1.5x
LSE:CSP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3.01 ÷ 1.83

1.64x

* Primary Listing of Countryside Properties.

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

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

CSP Future Performance

 How is Countryside Properties expected to perform in the next 1 to 3 years based on estimates from 4 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
13.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Countryside Properties expected to grow at an attractive rate?
  • Countryside Properties's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Countryside Properties's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Countryside Properties's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:CSP Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:CSP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 13.9%
LSE:CSP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 14.5%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 4.4%
United Kingdom of Great Britain and Northern Ireland Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
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:CSP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:CSP Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 2,162 1
2021-09-30 1,623 151 222 2
2020-09-30 1,493 129 197 4
2019-09-30 1,351 90 177 4
LSE:CSP Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 1,127 83 145
2018-12-31 1,073 84 146
2018-09-30 1,019 86 148
2018-06-30 956 78 141
2018-03-31 894 71 128
2017-12-31 870 61 123
2017-09-30 846 52 123
2017-06-30 791 11 110
2017-03-31 736 -30 97
2016-12-31 704 -32 79
2016-09-30 671 -35 61
2016-06-30 641 -36 43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Countryside Properties's earnings are expected to grow by 13.9% yearly, however this is not considered high growth (20% yearly).
  • Countryside Properties's revenue is expected to grow by 14.5% 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:CSP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Countryside Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:CSP Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30
2021-09-30 0.49 0.54 0.47 3.00
2020-09-30 0.44 0.46 0.41 3.00
2019-09-30 0.39 0.40 0.38 3.00
LSE:CSP Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 0.33
2018-12-31 0.33
2018-09-30 0.33
2018-06-30 0.31
2018-03-31 0.29
2017-12-31 0.27
2017-09-30 0.27
2017-06-30 0.24
2017-03-31 0.22
2016-12-31 0.18
2016-09-30 0.14
2016-06-30 0.10

*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.
  • Countryside Properties is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Countryside Properties'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.
Countryside Properties has a total score of 4/6, 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.

CSP Past Performance

  How has Countryside Properties 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 Countryside Properties'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.
  • Countryside Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Countryside Properties's 1-year earnings growth is less than its 5-year average (13.4% vs 46%)
  • Countryside Properties's earnings growth has exceeded the GB Consumer Durables industry average in the past year (13.4% vs 13%).
Earnings and Revenue History
Countryside Properties'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 Countryside Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:CSP Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,126.80 145.40 84.60
2018-12-31 1,072.70 146.05 79.35
2018-09-30 1,018.60 147.90 72.70
2018-06-30 956.05 140.70 64.10
2018-03-31 893.50 128.20 54.40
2017-12-31 869.65 122.70 52.55
2017-09-30 845.80 122.50 51.80
2017-06-30 791.00 109.85 49.95
2017-03-31 736.20 97.20 48.10
2016-12-31 703.75 79.15 46.55
2016-09-30 671.30 61.10 45.00
2016-06-30 640.98 43.46 42.68
2016-03-31 610.66 25.83 40.36
2015-12-31 579.07 22.72 40.06
2015-09-30 547.49 19.62 39.76
2014-09-30 452.80 -11.83 32.80
2013-09-30 276.96 -9.11 19.13

*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.
  • Countryside Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Countryside Properties used its assets more efficiently than the GB Consumer Durables industry average last year based on Return on Assets.
  • Countryside Properties has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Countryside Properties'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.
Countryside Properties has a total score of 4/6, 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.

CSP Health

 How is Countryside Properties'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 Countryside Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Countryside Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Countryside Properties's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Countryside Properties'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 19.4x 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 Countryside Properties Company Filings, last reported 1 month ago.

LSE:CSP Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 812.70 53.00 13.20
2018-12-31 812.70 53.00 13.20
2018-09-30 793.70 2.20 47.20
2018-06-30 793.70 2.20 47.20
2018-03-31 716.70 2.10 15.80
2017-12-31 716.70 2.10 15.80
2017-09-30 690.50 0.00 77.40
2017-06-30 690.50 0.00 77.40
2017-03-31 629.50 37.80 5.10
2016-12-31 629.50 37.80 5.10
2016-09-30 592.90 26.30 38.30
2016-06-30 592.90 26.30 38.30
2016-03-31 546.16 5.33 0.10
2015-12-31 546.16 5.33 0.10
2015-09-30 13.23 423.84 80.84
2014-09-30 -8.56 366.41 0.17
2013-09-30 1.47 267.51 0.23
  • Countryside Properties's level of debt (6.5%) compared to net worth is satisfactory (less than 40%).
  • Countryside Properties had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is well covered by operating cash flow (155.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 25.6x coverage).
X
Financial health checks
We assess Countryside Properties'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. Countryside Properties 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.

CSP Dividends

 What is Countryside Properties'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
3.59%
Current annual income from Countryside Properties dividends. Estimated to be 5.05% next year.
If you bought £2,000 of Countryside Properties shares you are expected to receive £72 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?
  • Countryside Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.98%).
  • Countryside Properties's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.3%).
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:CSP 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 4 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 7.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 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 5.3%

Industry and Market average data is calculated daily.

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

LSE:CSP Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-09-30 0.20 1.00
2021-09-30 0.16 3.00
2020-09-30 0.15 5.00
2019-09-30 0.14 5.00
LSE:CSP Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-12-12 0.108 3.410
2018-11-21 0.108 3.724
2018-01-25 0.100 3.032
2017-05-17 0.068 1.974
2016-11-29 0.034 1.405

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

  • Whilst dividend payments have been stable, Countryside Properties has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Countryside Properties only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Countryside Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Countryside Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 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 Countryside Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Countryside Properties has a total score of 3/6, see the detailed checks below.


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

CSP Management

 What is the CEO of Countryside Properties'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
Ian Sutcliffe
COMPENSATION £2,265,000
AGE 58
TENURE AS CEO 4.3 years
CEO Bio

Mr. Ian Calvert Sutcliffe has been Group Chief Executive Officer of Countryside Properties PLC and Countryside Properties (Holdings) Limited since January 2015. Mr. Sutcliffe has been a Director of Countryside Properties PLC since November 19, 2015. He served as the Chief Executive Officer of Keepmoat Ltd. until October 2012. He served as Managing Director of UK Property at SEGRO plc since July 1, 2008. He served as Managing Director of George Wimpey UK Ltd since February 2006. He served as the Chief Executive Officer of UK at Taylor Wimpey plc. He held number of senior roles with Taylor Wimpey plc and Royal Dutch Shell Plc. He joined the Countryside Properties Group on October 1, 2013. He served as an Executive Chairman of Countryside Properties (Holdings) Limited from October 01, 2013 to January 2015. He was Senior Independent Non-Executive Director of Ashtead Group plc since July 1, 2014 until January 2, 2019 and was its Independent Non-Executive Director since September 7, 2010 until January 2, 2019. He has been a Director of Countryside Properties (Holdings) Limited since October 1, 2013. He served as an Executive Director of SEGRO plc from July 1, 2008 to April 28, 2011. He served as an Executive Director of George Wimpey plc from October 2006 to June 2007. He served as a Director of Taylor Wimpey plc from July 2007 to April 14, 2008.

CEO Compensation
  • Ian's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Ian'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 of the Countryside Properties management team in years:

2
Average Tenure
  • The tenure for the Countryside Properties management team is about average.
Management Team

Ian Sutcliffe

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£2M
AGE
58
TENURE
4.3 yrs

Mike Scott

TITLE
Group CFO & Director
TENURE
0.6 yrs

Victoria Prior

TITLE
Investor Relations & Strategy Director

Gary Whitaker

TITLE
General Counsel & Company Secretary
TENURE
3.5 yrs

Nick Worrall

TITLE
Group Human Resources Director
TENURE
4.7 yrs

Graham Cherry

TITLE
Chief Executive of Communities
AGE
59
TENURE
2 yrs

Ian Kelley

TITLE
Chief Executive of Partnerships North
TENURE
2 yrs

Phillip Lyons

TITLE
Chief Executive of Housebuilding
TENURE
2 yrs

Iain McPherson

TITLE
Chief Executive of Partnerships South
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the Countryside Properties board of directors in years:

3.4
Average Tenure
58.5
Average Age
  • The tenure for the Countryside Properties board of directors is about average.
Board of Directors

David Howell

TITLE
Independent Non-Executive Chairman
COMPENSATION
£175K
AGE
68
TENURE
3.4 yrs

Ian Sutcliffe

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£2M
AGE
58
TENURE
3.5 yrs

Mike Scott

TITLE
Group CFO & Director
TENURE
0.6 yrs

Amanda Burton

TITLE
Independent Non-Executive Director
COMPENSATION
£50K
AGE
59
TENURE
3.4 yrs

Douglas Hurt

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£41K
AGE
62
TENURE
1.3 yrs

Sally Morgan

TITLE
Independent Non-Executive Director
COMPENSATION
£45K
AGE
58
TENURE
3.4 yrs

William Townsend

TITLE
Non-Executive Director
AGE
56
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • Countryside Properties insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
01. Apr 19 Sell Iain McPherson Individual 01. Apr 19 01. Apr 19 -3,673 £3.22 £-11,821
31. May 18 Sell Graham Cherry Individual 31. May 18 31. May 18 -3,000,000 £3.71 £-11,130,000
X
Management checks
We assess Countryside Properties'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. Countryside Properties 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.

CSP News

Simply Wall St News

Is Countryside Properties PLC (LON:CSP) Trading At A 49% Discount?

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (£, Millions) £54.00 £109.00 £134.50 £154.73 £171.59 £185.30 £196.36 £205.28 £212.56 £218.62 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x2 Est @ 15.04% Est @ 10.9% Est @ 7.99% Est @ 5.96% Est @ 4.54% Est @ 3.55% Est @ 2.85% Present Value (£, Millions) Discounted @ 7.43% £50.26 £94.44 £108.46 £116.14 £119.88 £120.51 £118.86 £115.66 £111.48 £106.72 Present Value of 10-year Cash Flow (PVCF)= £1.06b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.4%. … LSE:CSP Intrinsic value, May 9th 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 -

What Should We Expect From Countryside Properties PLC's (LON:CSP) Earnings In The Year Ahead?

Help shape the future of investing tools and you could win a $250 gift card! … Looking at Countryside Properties PLC's (LON:CSP) earnings update in September 2018, … with earnings expected to grow by 19% in the upcoming year

Simply Wall St -

Why Fundamental Investors Might Love Countryside Properties PLC (LON:CSP)

Attractive stocks have exceptional fundamentals. … In the case of Countryside Properties PLC (LON:CSP), there's … track record

Simply Wall St -

Do Countryside Properties's (LON:CSP) Earnings Warrant Your Attention?

In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like Countryside Properties (LON:CSP). … In the last three years Countryside Properties's earnings per share took off like a rocket; fast, and from a low base. … Countryside Properties maintained stable EBIT margins over the last year, all while growing revenue 20% to UK£1.0b.

Simply Wall St -

How Did Countryside Properties PLC's (LON:CSP) 19% ROE Fare Against The Industry?

Over the last twelve months Countryside Properties has recorded a ROE of 19%. … View our latest analysis for Countryside Properties? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Countryside Properties PLC (LON:CSP): Poised For Long-Term Success?

The most recent earnings update Countryside Properties PLC's (LON:CSP) released in September 2018a

Simply Wall St -

Countryside Properties (LON:CSP) Shareholders Have Enjoyed A 41% Share Price Gain

For example, the Countryside Properties PLC (LON:CSP) share price is up 41% in the last three years, clearly besting than the market return of around 16% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … Countryside Properties was able to grow its EPS at 96% per year over three years, sending the share price higher.

Simply Wall St -

Is Countryside Properties PLC (LON:CSP) A Smart Choice For Dividend Investors?

Countryside Properties PLC (LON:CSP) has paid a dividend to shareholders in the last few years. … Let's take a look at Countryside Properties in more detail. … See our latest analysis for Countryside Properties

Simply Wall St -

Is Countryside Properties PLC's (LON:CSP) CEO Pay Justified?

In 2015 Ian Sutcliffe was appointed CEO of Countryside Properties PLC (LON:CSP). … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Ian Sutcliffe's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Countryside Properties PLC (LON:CSP) Insiders Have Been Selling

The Last 12 Months Of Insider Transactions At Countryside Properties. … In the last twelve months, the biggest single sale by an insider was when Chief Executive of Communities Graham Cherry sold UK£11m worth of shares at a price of UK£3.71 per share. … Graham Cherry was the only individual insider to sell shares in the last twelve months.

Simply Wall St -

CSP Company Info

Description

Countryside Properties PLC operates as a home builder and urban regeneration partner in the United Kingdom. It operates through two divisions, Housebuilding and Partnerships. The Housebuilding division develops large-scale sites, and provides private and affordable homes in London and the South East of England. This division operates under the Countryside and Millgate brands. The Partnerships division specializes in the urban regeneration of public sector land; and delivers private and affordable homes by partnering with local authorities and housing associations in London, the West Midlands, and the North West of England. The company also offers estate management services. It has a total land bank of 34,581 plots. The company was formerly known as Hackplimco (No. 121) plc and changed its name to Countryside Properties PLC in January 2016. Countryside Properties PLC was founded in 1958 and is headquartered in Brentwood, the United Kingdom.

Details
Name: Countryside Properties PLC
CSP
Exchange: LSE
Founded: 1958
£1,344,976,197
446,835,946
Website: http://www.countrysideproperties.com
Address: Countryside Properties PLC
Countryside House,
The Drive,
Brentwood,
Essex, CM13 3AT,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE CSP Ordinary Shares London Stock Exchange GB GBP 12. Feb 2016
DB 6CO Ordinary Shares Deutsche Boerse AG DE EUR 12. Feb 2016
BATS-CHIXE CSPL Ordinary Shares BATS 'Chi-X Europe' GB GBP 12. Feb 2016
OTCPK CUSP.Y UNSPONSRED ADS Pink Sheets LLC US USD 10. Oct 2018
Number of employees
Current staff
Staff numbers
1,800
Countryside Properties employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 22:26
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/05/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


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.