AIM:FUL

Stock Analysis Report

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Executive Summary

The Fulham Shore PLC owns, operates, and manages restaurants in the United Kingdom.


Snowflake Analysis

Imperfect balance sheet with questionable track record.

Share Price & News

How has Fulham Shore's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FUL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.4%

FUL

3.6%

GB Hospitality

5.5%

GB Market


1 Year Return

-50.2%

FUL

-25.9%

GB Hospitality

-9.2%

GB Market

Return vs Industry: FUL underperformed the UK Hospitality industry which returned -26.9% over the past year.

Return vs Market: FUL underperformed the UK Market which returned -10% over the past year.


Shareholder returns

FULIndustryMarket
7 Day0.4%3.6%5.5%
30 Day17.0%6.8%10.8%
90 Day-38.2%-14.8%-0.4%
1 Year-50.2%-50.2%-23.4%-25.9%-4.8%-9.2%
3 Year-67.4%-67.4%-16.3%-25.4%-0.8%-12.9%
5 Year-65.1%-65.1%4.2%-14.4%18.1%-8.2%

Price Volatility Vs. Market

How volatile is Fulham Shore's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

236.27x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FUL (£0.06) is trading above our estimate of fair value (£0.02)

Significantly Below Fair Value: FUL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FUL is poor value based on its PE Ratio (236.3x) compared to the Hospitality industry average (18.2x).

PE vs Market: FUL is poor value based on its PE Ratio (236.3x) compared to the UK market (15x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FUL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FUL is good value based on its PB Ratio (0.8x) compared to the GB Hospitality industry average (1x).


Next Steps

Future Growth

How is Fulham Shore forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

36.5%

Forecasted Consumer Services industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fulham Shore has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Fulham Shore performed over the past 5 years?

4.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FUL has a large one-off loss of £274.0K impacting its September 29 2019 financial results.

Growing Profit Margin: FUL became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FUL's earnings have grown by 4.1% per year over the past 5 years.

Accelerating Growth: FUL has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FUL has become profitable in the last year, making it difficult to compare its past year earnings growth to the Hospitality industry (-10.9%).


Return on Equity

High ROE: FUL's Return on Equity (0.4%) is considered low.


Next Steps

Financial Health

How is Fulham Shore's financial position?


Financial Position Analysis

Short Term Liabilities: FUL's short term assets (£8.7M) do not cover its short term liabilities (£21.3M).

Long Term Liabilities: FUL's short term assets (£8.7M) do not cover its long term liabilities (£76.6M).


Debt to Equity History and Analysis

Debt Level: FUL's debt to equity ratio (25.9%) is considered satisfactory.

Reducing Debt: FUL's debt to equity ratio has increased from 21% to 25.9% over the past 5 years.

Debt Coverage: FUL's debt is well covered by operating cash flow (100.6%).

Interest Coverage: FUL's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Fulham Shore's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FUL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FUL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FUL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FUL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FUL's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

6.4yrs

Average board tenure


CEO

Nabil Ayad Mankarious (52yo)

no data

Tenure

UK£291,000

Compensation

Mr. Nabil Ayad Gerges Mankarious serves as the Managing Director of The Real Greek Food Company Limited and The Fulham Shore PLC. Mr. Mankarious is part Owner of The Real Greek, bought it in summer 2011. H ...


CEO Compensation Analysis

Compensation vs Market: Nabil Ayad's total compensation ($USD370.11K) is about average for companies of similar size in the UK market ($USD339.72K).

Compensation vs Earnings: Nabil Ayad's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
David Page
Executive Chairmanno dataUK£181.00k14.17% £4.9m
Nabil Ayad Mankarious
MD & Directorno dataUK£291.00k19.86% £6.9m
Nicholas Chi Wong
Finance Director & Non-Executive Non-Independent Director6.42yrsUK£260.00k1.57% £542.0k
Nicholas Donaldson
Director of Corporate Finance8.25yrsUK£85.00k2.27% £785.9k
Desmond Anthony Gunewardena
Independent Non-Executive Director3.75yrsUK£36.00k0.079% £27.4k
Martin Chapman
Independent Non-Executive Director5.92yrsUK£46.00k0.13% £46.2k

6.4yrs

Average Tenure

62yo

Average Age

Experienced Board: FUL's board of directors are considered experienced (6.4 years average tenure).


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

The Fulham Shore PLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: The Fulham Shore PLC
  • Ticker: FUL
  • Exchange: AIM
  • Founded: 2012
  • Industry: Restaurants
  • Sector: Consumer Services
  • Market Cap: UK£34.560m
  • Shares outstanding: 573.62m
  • Website: https://www.fulhamshore.com

Number of Employees


Location

  • The Fulham Shore PLC
  • 50-51 Berwick Street
  • 1st Floor
  • London
  • Greater London
  • W1F 8SJ
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FULAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPFeb 2013

Biography

The Fulham Shore PLC owns, operates, and manages restaurants in the United Kingdom. It operates 63 restaurants, including 16 restaurants under The Real Greek name and 47 restaurants under the Franco Manca name. The company was incorporated in 2012 and is based in London, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 00:09
End of Day Share Price2020/06/05 00:00
Earnings2019/09/29
Annual Earnings2019/03/31


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.