Loading...

Fuller Smith & Turner

LSE:FSTA
Snowflake Description

Average dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FSTA
LSE
£606M
Market Cap
  1. Home
  2. GB
  3. Consumer Services
Company description

Fuller, Smith & Turner P.L.C. operates managed pubs and hotels in the United Kingdom and internationally. The last earnings update was 118 days ago. More info.


Add to Portfolio Compare Print
FSTA Share Price and Events
7 Day Returns
1.4%
LSE:FSTA
1.4%
GB Hospitality
1.9%
GB Market
1 Year Returns
16.1%
LSE:FSTA
-3%
GB Hospitality
1.2%
GB Market
FSTA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fuller Smith & Turner (FSTA) 1.4% 2.5% 25.8% 16.1% 7.2% 20.4%
GB Hospitality 1.4% -0.6% 7.1% -3% 13.2% 27.8%
GB Market 1.9% 1.5% 9.1% 1.2% 14.5% 3.1%
1 Year Return vs Industry and Market
  • FSTA outperformed the Hospitality industry which returned -3% over the past year.
  • FSTA outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.2% over the past year.
Price Volatility
FSTA
Industry
5yr Volatility vs Market

FSTA Value

 Is Fuller Smith & Turner 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 Fuller Smith & Turner 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 Fuller Smith & Turner.

LSE:FSTA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
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:FSTA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.964 (1 + (1- 19%) (40.62%))
1.189
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.189 * 6.65%)
9.13%

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

The calculations below outline how an intrinsic value for Fuller Smith & Turner 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:FSTA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.13%)
2019 -0.35 Analyst x2 -0.32
2020 21.73 Analyst x2 18.25
2021 24.82 Analyst x2 19.10
2022 27.22 Est @ 9.67% 19.19
2023 29.16 Est @ 7.14% 18.84
2024 30.73 Est @ 5.37% 18.19
2025 32.00 Est @ 4.12% 17.36
2026 33.04 Est @ 3.25% 16.42
2027 33.91 Est @ 2.65% 15.45
2028 34.67 Est @ 2.22% 14.47
Present value of next 10 years cash flows £156.94
LSE:FSTA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £34.67 × (1 + 1.23%) ÷ (9.13% – 1.23%)
£443.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £443.96 ÷ (1 + 9.13%)10
£185.29
LSE:FSTA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £156.94 + £185.29
£342.23
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £342.23 / 54.38
£6.29
LSE:FSTA Discount to Share Price
Calculation Result
Value per share (GBP) From above. £6.29
Current discount Discount to share price of £11.15
= -1 x (£11.15 - £6.29) / £6.29
-77.2%

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

  • The current share price of Fuller Smith & Turner is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Fuller Smith & Turner's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fuller Smith & Turner's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:FSTA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-29) in GBP £0.59
LSE:FSTA Share Price ** LSE (2019-03-21) in GBP £11.15
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 36 Publicly-Listed Hospitality Companies 18x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 808 Publicly-Listed Companies 15.98x

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

** Primary Listing of Fuller Smith & Turner.

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

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

= 11.15 ÷ 0.59

18.77x

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

  • Fuller Smith & Turner is overvalued based on earnings compared to the GB Hospitality industry average.
  • Fuller Smith & Turner is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Fuller Smith & Turner's expected growth come at a high price?
Raw Data
LSE:FSTA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 27 Publicly-Listed Hospitality Companies 1.76x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 576 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Fuller Smith & Turner, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fuller Smith & Turner's assets?
Raw Data
LSE:FSTA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-29) in GBP £6.40
LSE:FSTA Share Price * LSE (2019-03-21) in GBP £11.15
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 56 Publicly-Listed Hospitality Companies 1.42x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,359 Publicly-Listed Companies 1.5x
LSE:FSTA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 11.15 ÷ 6.40

1.74x

* Primary Listing of Fuller Smith & Turner.

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

  • Fuller Smith & Turner is overvalued based on assets compared to the GB Hospitality industry average.
X
Value checks
We assess Fuller Smith & Turner'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Fuller Smith & Turner has a total score of 0/6, 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.

FSTA Future Performance

 How is Fuller Smith & Turner expected to perform in the next 1 to 3 years based on estimates from 5 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
4.8%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Fuller Smith & Turner expected to grow at an attractive rate?
  • Fuller Smith & Turner's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Fuller Smith & Turner's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Fuller Smith & Turner'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:FSTA Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:FSTA Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.8%
LSE:FSTA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.6%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.2%
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:FSTA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:FSTA Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 460 1
2021-03-31 430 70 4
2020-03-31 423 69 5
2019-03-31 425 65 5
LSE:FSTA Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-09-29 416 58 33
2018-06-29 410 55 34
2018-03-31 404 52 36
2017-12-31 404 52 35
2017-09-30 404 52 34
2017-06-30 398 58 34
2017-04-01 392 63 33
2017-01-01 381 62 33
2016-09-24 370 61 34
2016-06-24 360 60 33
2016-03-26 351 60 33
2015-12-26 344 58 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fuller Smith & Turner's earnings are expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
  • Fuller Smith & Turner's revenue is expected to grow by 1.6% 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:FSTA 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 5 Analyst Estimates (S&P Global) See Below

All data from Fuller Smith & Turner Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:FSTA Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31
2021-03-31 0.68 0.68 0.68 1.00
2020-03-31 0.65 0.65 0.65 1.00
2019-03-31 0.62 0.62 0.62 1.00
LSE:FSTA Past Financials Data
Date (Data in GBP Millions) EPS *
2018-09-29 0.59
2018-06-29 0.62
2018-03-31 0.65
2017-12-31 0.64
2017-09-30 0.62
2017-06-30 0.61
2017-04-01 0.59
2017-01-01 0.60
2016-09-24 0.61
2016-06-24 0.60
2016-03-26 0.59
2015-12-26 0.57

*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.
  • Unable to establish if Fuller Smith & Turner will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Fuller Smith & Turner'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.
Fuller Smith & Turner 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.

FSTA Past Performance

  How has Fuller Smith & Turner 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 Fuller Smith & Turner's growth in the last year to its industry (Hospitality).
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.
  • Fuller Smith & Turner's year on year earnings growth rate has been positive over the past 5 years.
  • Fuller Smith & Turner's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Fuller Smith & Turner's 1-year earnings growth is negative, it can't be compared to the GB Hospitality industry average.
Earnings and Revenue History
Fuller Smith & Turner'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 Fuller Smith & Turner Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:FSTA Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-29 416.40 32.70 13.30
2018-06-29 410.00 34.25 13.30
2018-03-31 403.60 35.80 13.30
2017-12-31 403.65 35.10 12.85
2017-09-30 403.70 34.40 12.40
2017-06-30 397.85 33.55 12.40
2017-04-01 392.00 32.70 12.40
2017-01-01 381.20 33.35 10.10
2016-09-24 370.40 34.00 7.80
2016-06-24 360.45 33.40 7.80
2016-03-26 350.50 32.80 7.80
2015-12-26 344.05 31.80 9.15
2015-09-26 337.60 30.80 10.50
2015-06-26 329.55 29.60 10.50
2015-03-28 321.50 28.40 10.50
2014-12-28 312.40 27.75 9.90
2014-09-27 303.30 27.10 9.30
2014-06-27 295.65 28.10 9.30
2014-03-29 288.00 29.10 9.30
2013-12-29 283.95 29.00 8.75
2013-09-28 279.90 28.90 8.20
2013-06-28 275.70 28.50 8.45
2013-03-30 271.50 28.10 8.70
2012-12-30 267.10 27.05 8.40
2012-09-29 262.70 26.00 8.10
2012-06-29 257.85 24.85 7.80
2012-03-31 253.00 23.70 7.50

*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.
  • Fuller Smith & Turner has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fuller Smith & Turner used its assets less efficiently than the GB Hospitality industry average last year based on Return on Assets.
  • Fuller Smith & Turner's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Fuller Smith & Turner'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 Hospitality 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.
Fuller Smith & Turner has a total score of 1/6, 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.

FSTA Health

 How is Fuller Smith & Turner'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 Fuller Smith & Turner's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fuller Smith & Turner's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Fuller Smith & Turner's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Fuller Smith & Turner'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 not covered by short term assets, assets are 0.3x 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 Fuller Smith & Turner Company Filings, last reported 5 months ago.

LSE:FSTA Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-29 351.80 246.30 22.00
2018-06-29 351.80 246.30 22.00
2018-03-31 334.90 215.40 11.70
2017-12-31 334.90 215.40 11.70
2017-09-30 325.00 210.50 9.00
2017-06-30 325.00 210.50 9.00
2017-04-01 309.70 224.60 15.30
2017-01-01 309.70 224.60 15.30
2016-09-24 295.50 211.30 8.50
2016-06-24 295.50 211.30 8.50
2016-03-26 300.90 207.90 6.20
2015-12-26 300.90 207.90 6.20
2015-09-26 291.40 198.30 7.10
2015-06-26 291.40 198.30 7.10
2015-03-28 281.70 170.60 5.10
2014-12-28 281.70 170.60 5.10
2014-09-27 277.70 165.90 6.20
2014-06-27 277.70 165.90 6.20
2014-03-29 277.20 144.70 4.10
2013-12-29 277.20 144.70 4.10
2013-09-28 273.80 140.50 7.90
2013-06-28 273.80 140.50 7.90
2013-03-30 259.40 142.30 4.30
2012-12-30 259.40 142.30 4.30
2012-09-29 250.80 142.00 2.40
2012-06-29 250.80 142.00 2.40
2012-03-31 235.30 143.50 3.90
  • Fuller Smith & Turner's level of debt (70%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (51.3% vs 70% today).
  • Debt is well covered by operating cash flow (23.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.8x coverage).
X
Financial health checks
We assess Fuller Smith & Turner'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. Fuller Smith & Turner has a total score of 2/6, 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.

FSTA Dividends

 What is Fuller Smith & Turner'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
1.75%
Current annual income from Fuller Smith & Turner dividends. Estimated to be 1.92% next year.
If you bought £2,000 of Fuller Smith & Turner shares you are expected to receive £35 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?
  • Fuller Smith & Turner's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.04%).
  • Fuller Smith & Turner's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.24%).
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:FSTA 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 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.1%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 704 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 5.2%

Industry and Market average data is calculated daily.

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

LSE:FSTA Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.22 1.00
2021-03-31 0.22 4.00
2020-03-31 0.21 4.00
2019-03-31 0.20 5.00
LSE:FSTA Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-06-27 0.196 2.031
2018-06-08 0.196 2.031
2017-06-26 0.188 1.933
2017-06-09 0.188 1.786
2016-06-24 0.179 1.774
2016-06-10 0.179 1.722
2015-06-25 0.166 1.496
2015-06-05 0.166 1.514
2014-06-06 0.151 1.565
2014-06-05 0.151 1.583
2013-06-07 0.137 1.471
2012-05-31 0.127 1.672
2011-06-10 0.118 1.701
2010-06-11 0.110 1.850
2009-06-05 0.099 1.918
2009-03-30 0.099 2.091
2009-03-23 0.098 2.533

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fuller Smith & Turner'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 (3.1x coverage).
X
Income/ dividend checks
We assess Fuller Smith & Turner'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 Fuller Smith & Turner afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fuller Smith & Turner 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.

FSTA Management

 What is the CEO of Fuller Smith & Turner'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
J. Emeny
COMPENSATION £1,089,000
AGE 52
TENURE AS CEO 5.7 years
CEO Bio

Mr. J. Simon Emeny has been the Chief Executive Officer of Fuller Smith & Turner Plc since July 1, 2013 and served as its Group Managing Director since November 1, 2010. Mr. Emeny served as the Managing Director of Fuller's Inns for Fuller Smith & Turner Plc since July 25, 2006 and also served as its Retail Director. He joined Fuller Smith & Turner in 1996 from Bass Plc where he held a variety of senior operational and strategic planning roles. He has been an Executive Director of Fuller Smith & Turner Plc since May 1998. He serves as a Non Executive Director of Dunelm Plc. He served as Non-Executive Senior Independent Director and Independent Director at Dunelm Group plc since September 12, 2014 and June 25, 2007 respectively until November 21, 2017. He is an economics graduate, with responsibility for the Managed and Tenanted Inns and Hotels. Mr. Emeny is a Council Member of the Association of Licensed Multiple Retailers. Mr. Emeny is an Economics graduate and alumni of Harvard Business School.

CEO Compensation
  • J.'s compensation has been consistent with company performance over the past year.
  • J.'s remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Fuller Smith & Turner management team in years:

3.9
Average Tenure
50
Average Age
  • The tenure for the Fuller Smith & Turner management team is about average.
Management Team

J. Emeny

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
52
TENURE
5.7 yrs

Jonathon Swaine

TITLE
Executive Director
COMPENSATION
£562K
AGE
47

Simon Dodd

TITLE
Executive Director
COMPENSATION
£340K
AGE
44
TENURE
2.6 yrs

Richard Fuller

TITLE
Corporate Affairs Director & Executive Director
COMPENSATION
£442K
AGE
58

Anthony Fuller

TITLE
President
COMPENSATION
£30K
AGE
78

Deborah Stevenson

TITLE
Interim Finance Director
TENURE
0.3 yrs

Jane Jones

TITLE
Director of Marketing

Séverine Béquin

TITLE
Company Secretary
AGE
48
TENURE
5.2 yrs
Board of Directors Tenure

Average tenure and age of the Fuller Smith & Turner board of directors in years:

8.8
Average Tenure
55
Average Age
  • The tenure for the Fuller Smith & Turner board of directors is about average.
Board of Directors

Michael Turner

TITLE
Non-Executive Chairman
COMPENSATION
£275K
AGE
66
TENURE
12.2 yrs

J. Emeny

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
52
TENURE
20.8 yrs

Jonathon Swaine

TITLE
Executive Director
COMPENSATION
£562K
AGE
47
TENURE
7.1 yrs

Simon Dodd

TITLE
Executive Director
COMPENSATION
£340K
AGE
44
TENURE
2.6 yrs

Richard Fuller

TITLE
Corporate Affairs Director & Executive Director
COMPENSATION
£442K
AGE
58
TENURE
9.3 yrs

John Dunsmore

TITLE
Independent Non-Executive Director
COMPENSATION
£63K
AGE
59
TENURE
10.2 yrs

Juliette Stacey

TITLE
Independent Non-Executive Director
COMPENSATION
£2K
AGE
48
TENURE
1 yrs

James Fuller

TITLE
Non-Executive Director
COMPENSATION
£48K
AGE
47
TENURE
8.8 yrs

Peter Swinburn

TITLE
Senior Independent Non-Executive Director
AGE
65
TENURE
1 yrs

Helen Jones

TITLE
Independent Non-Executive Director
AGE
60
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Fuller Smith & Turner insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
28. Jan 19 Buy J. Emeny Individual 28. Jan 19 28. Jan 19 1,000 £10.82 £10,820
02. Jul 18 Sell Simon Dodd Individual 29. Jun 18 29. Jun 18 -1,463 £9.54 £-13,957
02. Jul 18 Sell Jonathon Swaine Individual 29. Jun 18 29. Jun 18 -1,325 £9.54 £-12,641
02. Jul 18 Sell Richard Fuller Individual 29. Jun 18 29. Jun 18 -6,018 £9.54 £-57,412
02. Jul 18 Sell J. Emeny Individual 29. Jun 18 29. Jun 18 -3,288 £9.54 £-31,368
02. Jul 18 Sell James C. Douglas Individual 29. Jun 18 29. Jun 18 -2,295 £9.54 £-21,894
X
Management checks
We assess Fuller Smith & Turner'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. Fuller Smith & Turner 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.

FSTA News

Simply Wall St News

Is Fuller, Smith & Turner P.L.C.’s (LON:FSTA) Cash Outlook Optimistic?

I will take you through Fuller Smith & Turner’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Fuller Smith & Turner’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … There are two methods I will use to evaluate the quality of Fuller Smith & Turner’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

Should You Buy Fuller, Smith & Turner P.L.C. (LON:FSTA) For Its Dividend?

Historically, Fuller, Smith & Turner P.L.C. … Let's take a look at Fuller Smith & Turner in more detail. … View our latest analysis for Fuller Smith & Turner

Simply Wall St -

Should You Care About Fuller, Smith & Turner P.L.C.’s (LON:FSTA) Investment Potential?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Here's What We Think About Fuller, Smith & Turner P.L.C.'s (LON:FSTA) CEO Pay

Emeny has been the CEO of Fuller, Smith & Turner P.L.CJ … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Emeny's Compensation Compare With Similar Sized Companies?.

Simply Wall St -

Does Fuller, Smith & Turner P.L.C. (LON:FSTA) Have A Good P/E Ratio?

We'll show how you can use Fuller, Smith & Turner P.L.C.'s (LON:FSTA) P/E ratio to inform your assessment of the investment opportunity. … Fuller Smith & Turner has a price to earnings ratio of 15.54, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Fuller, Smith & Turner P.L.C. (LON:FSTA): Should The Recent Earnings Drop Worry You?

Measuring Fuller, Smith & Turner P.L.C.'s (LON:FSTA) track record of past performance is a valuable exercise for investors. … Today I will assess FSTA's recent performance announced on 29 September 2018 and compare these figures to its historical trend and industry movements. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 4.9%, indicating the rate at which FSTA is growing has slowed down

Simply Wall St -

Should You Be Worried About Fuller, Smith & Turner P.L.C.'s (LON:FSTA) 9.3% Return On Equity?

Our data shows Fuller Smith & Turner has a return on equity of 9.3% for the last year. … That means that for every £1 worth of shareholders' equity, it generated £0.093 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Fuller Smith & Turner PLC (LON:FSTA): Ex-Dividend Is In 4 Days

On the 02 January 2019, Fuller Smith & Turner PLC (LON:FSTA) will be paying shareholders an upcoming dividend amount of UK£0.078 per share. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Fuller Smith & Turner's latest financial data to analyse its dividend attributes. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:?

Simply Wall St -

Fuller Smith & Turner PLC (LON:FSTA): How Much Money Comes Back To Investors?

Fuller Smith & Turner PLC (LON:FSTA) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Fuller Smith & Turner generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating. … The two ways to assess whether Fuller Smith & Turner’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow

Simply Wall St -

Fuller Smith & Turner PLC (LON:FSTA): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

FSTA Company Info

Description

Fuller, Smith & Turner P.L.C. operates managed pubs and hotels in the United Kingdom and internationally. It operates in three segments: Managed Pubs and Hotels, Tenanted Inns, and The Fuller’s Beer Company. The company also manages pubs operated by third parties under tenancy or lease agreements. In addition, the company is involved in the brewing and distribution of beer, cider, wines, spirits, and soft drinks. Further, it engages in the restaurant ownership and management, and operates as a managed houses service company. The company offers its beers under the London Pride, Oliver’s Island, ESB, Organic Honey Dew, and Frontier Craft Lager brand names. Fuller, Smith & Turner P.L.C. was founded in 1845 and is headquartered in London, the United Kingdom.

Details
Name: Fuller, Smith & Turner P.L.C.
FSTA
Exchange: LSE
Founded: 1845
£606,358,147
54,381,896
Website: http://www.fullers.co.uk
Address: Fuller, Smith & Turner P.L.C.
The Griffin Brewery,
Chiswick Lane South,
London,
Greater London, W4 2QB,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE FSTA A Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
BATS-CHIXE FSTAl A Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
LSE 53GW 6% 1ST CUM PRF GBP1 London Stock Exchange GB GBP 27. Aug 1996
Number of employees
Current staff
Staff numbers
4,905
Fuller Smith & Turner employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 21:25
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/02/13
Last earnings filing: 2018/11/23
Last earnings reported: 2018/09/29
Last annual earnings reported: 2018/03/31


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.