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FSTA

Fuller Smith & Turner LSE:FSTA Stock Report

Last Price

UK£4.91

Market Cap

UK£303.0m

7D

-5.2%

1Y

-31.4%

Updated

22 Sep, 2022

Data

Company Financials +
FSTA fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance1/6
Financial Health3/6
Dividends3/6

FSTA Stock Overview

Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom.

Fuller Smith & Turner Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fuller Smith & Turner
Historical stock prices
Current Share PriceUK£4.91
52 Week HighUK£7.84
52 Week LowUK£4.80
Beta0.64
1 Month Change-21.06%
3 Month Change-18.17%
1 Year Change-31.42%
3 Year Change-58.74%
5 Year Change-52.10%
Change since IPO189.51%

Recent News & Updates

Sep 06
Estimating The Intrinsic Value Of Fuller, Smith & Turner P.L.C. (LON:FSTA)

Estimating The Intrinsic Value Of Fuller, Smith & Turner P.L.C. (LON:FSTA)

Today we will run through one way of estimating the intrinsic value of Fuller, Smith & Turner P.L.C. ( LON:FSTA ) by...

Shareholder Returns

FSTAGB HospitalityGB Market
7D-5.2%-5.7%-1.8%
1Y-31.4%-21.5%-12.9%

Return vs Industry: FSTA underperformed the UK Hospitality industry which returned -20.3% over the past year.

Return vs Market: FSTA underperformed the UK Market which returned -12% over the past year.

Price Volatility

Is FSTA's price volatile compared to industry and market?
FSTA volatility
FSTA Average Weekly Movement5.9%
Hospitality Industry Average Movement5.3%
Market Average Movement5.3%
10% most volatile stocks in GB Market10.8%
10% least volatile stocks in GB Market2.6%

Stable Share Price: FSTA is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: FSTA's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18454,724J. Emenyhttps://www.fullers.co.uk

Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom. It operates through Managed Pubs and Hotels, and Tenanted Inns segments. The company also manages pubs operated by third parties under tenancy or lease agreements.

Fuller Smith & Turner Fundamentals Summary

How do Fuller Smith & Turner's earnings and revenue compare to its market cap?
FSTA fundamental statistics
Market CapUK£303.05m
Earnings (TTM)UK£7.10m
Revenue (TTM)UK£253.80m

42.7x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FSTA income statement (TTM)
RevenueUK£253.80m
Cost of RevenueUK£177.00m
Gross ProfitUK£76.80m
Other ExpensesUK£69.70m
EarningsUK£7.10m

Last Reported Earnings

Mar 26, 2022

Next Earnings Date

Nov 17, 2022

Earnings per share (EPS)0.12
Gross Margin30.26%
Net Profit Margin2.80%
Debt/Equity Ratio32.9%

How did FSTA perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

98%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is FSTA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FSTA?

Other financial metrics that can be useful for relative valuation.

FSTA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2x
Enterprise Value/EBITDA16.5x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

How does FSTA's PE Ratio compare to its peers?

FSTA PE Ratio vs Peers
The above table shows the PE ratio for FSTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.1x
YNGA Young's Brewery
25.8x11.0%UK£519.5m
LGRS Loungers
11.8x4.0%UK£213.0m
MAB Mitchells & Butlers
6.5x16.6%UK£943.2m
THW Daniel Thwaites
4.9xn/aUK£59.4m
FSTA Fuller Smith & Turner
42.7x31.1%UK£303.0m

Price-To-Earnings vs Peers: FSTA is expensive based on its Price-To-Earnings Ratio (42.7x) compared to the peer average (12.1x).


Price to Earnings Ratio vs Industry

How does FSTA's PE Ratio compare vs other companies in the GB Hospitality Industry?

Price-To-Earnings vs Industry: FSTA is expensive based on its Price-To-Earnings Ratio (42.7x) compared to the UK Hospitality industry average (12.9x)


Price to Earnings Ratio vs Fair Ratio

What is FSTA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FSTA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42.7x
Fair PE Ratio22x

Price-To-Earnings vs Fair Ratio: FSTA is expensive based on its Price-To-Earnings Ratio (42.7x) compared to the estimated Fair Price-To-Earnings Ratio (22x).


Share Price vs Fair Value

What is the Fair Price of FSTA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FSTA (£4.91) is trading below our estimate of fair value (£5.8)

Significantly Below Fair Value: FSTA is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Fuller Smith & Turner forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


31.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FSTA's forecast earnings growth (31.1% per year) is above the savings rate (0.9%).

Earnings vs Market: FSTA's earnings (31.1% per year) are forecast to grow faster than the UK market (8.7% per year).

High Growth Earnings: FSTA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FSTA's revenue (10.4% per year) is forecast to grow faster than the UK market (4.4% per year).

High Growth Revenue: FSTA's revenue (10.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FSTA's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Fuller Smith & Turner performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-58.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FSTA has a large one-off gain of £9.7M impacting its March 26 2022 financial results.

Growing Profit Margin: FSTA became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FSTA's earnings have declined by 58.8% per year over the past 5 years.

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

Earnings vs Industry: FSTA has become profitable in the last year, making it difficult to compare its past year earnings growth to the Hospitality industry (37.7%).


Return on Equity

High ROE: FSTA's Return on Equity (1.6%) is considered low.


Discover strong past performing companies

Financial Health

How is Fuller Smith & Turner's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FSTA's short term assets (£35.9M) do not cover its short term liabilities (£184.5M).

Long Term Liabilities: FSTA's short term assets (£35.9M) do not cover its long term liabilities (£116.0M).


Debt to Equity History and Analysis

Debt Level: FSTA's net debt to equity ratio (29.4%) is considered satisfactory.

Reducing Debt: FSTA's debt to equity ratio has reduced from 72.5% to 32.9% over the past 5 years.

Debt Coverage: FSTA's debt is well covered by operating cash flow (48.2%).

Interest Coverage: FSTA's interest payments on its debt are not well covered by EBIT (1.2x coverage).


Balance Sheet


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Dividend

What is Fuller Smith & Turner current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.02%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FSTA's dividend (3.02%) is higher than the bottom 25% of dividend payers in the UK market (2%).

High Dividend: FSTA's dividend (3.02%) is low compared to the top 25% of dividend payers in the UK market (5.56%).


Stability and Growth of Payments

Stable Dividend: FSTA's dividend payments have been volatile in the past 10 years.

Growing Dividend: FSTA's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (97.6%), FSTA's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (20.1%), FSTA's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

2.3yrs

Average management tenure


CEO

J. Emeny (56 yo)

9.17yrs

Tenure

UK£935,000

Compensation

Mr. J. Simon Emeny has been the Chief Executive Officer of Fuller, Smith & Turner P.L.C. since July 1, 2013 and served as its Group Managing Director since November 1, 2010. Mr. Emeny served as the Managin...


CEO Compensation Analysis

Compensation vs Market: J.'s total compensation ($USD1.05M) is about average for companies of similar size in the UK market ($USD1.07M).

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


Leadership Team

Experienced Management: FSTA's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: FSTA's board of directors are considered experienced (4.5 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 44.21% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
7.26%
BlackRock, Inc.
4,478,550£22.0m3.58%no data
6.22%
Lansdowne Partners Limited
3,840,184£18.9m-0.9%0.71%
2.91%
Columbia Management Investment Advisers, LLC
1,795,463£8.8m0.03%no data
2.78%
Fidelity International Ltd
1,718,643£8.4m31.03%no data
2.41%
James Sharp & Co., Asset Management Arm
1,484,919£7.3m-0.71%1.05%
2.25%
Highclere International Investors LLP
1,387,978£6.8m0%1.32%
1.98%
Aegon Asset Management UK Plc
1,221,908£6.0m-0.24%0.03%
1.81%
Artemis Investment Management LLP
1,118,583£5.5m-6.26%0.03%
1.66%
Allianz Asset Management AG
1,023,000£5.0m0%no data
1.59%
Dunarden Ltd.
979,165£4.8m0%no data
1.44%
Richard H. Fuller
886,204£4.4m0%no data
1.28%
abrdn plc
788,998£3.9m-13.91%no data
1.19%
Lindsell Train Limited
737,400£3.6m0%0.02%
1.07%
Brewin Dolphin Limited
661,891£3.2m4.14%0.03%
1.06%
Royal London Asset Management Limited
654,208£3.2m0.88%0.01%
1.05%
Legal & General Investment Management Limited
648,844£3.2m0.85%no data
0.91%
Hargreaves Lansdown plc
560,515£2.8m0%no data
0.91%
Hargreaves Lansdown Fund Managers Ltd., Asset Management Arm
560,515£2.8m0%0.29%
0.78%
Schroder Investment Management Limited
482,235£2.4m-1.28%no data
0.7%
Dimensional Fund Advisors LP
434,239£2.1m8.35%no data
0.68%
HSBC Global Asset Management (UK) Limited
421,057£2.1m1.98%no data
0.62%
Premier Fund Managers Limited
383,316£1.9m0%0.02%
0.6%
Smith & Williamson Investment Management LLP
371,933£1.8m-25.23%0.02%
0.53%
Numis Asset Management Limited
328,192£1.6m-9.39%0.33%
0.51%
Charles Stanley & Co. Ltd, Asset Management Arm
315,599£1.5m-0.14%0.02%

Company Information

Fuller, Smith & Turner P.L.C.'s employee growth, exchange listings and data sources


Key Information

  • Name: Fuller, Smith & Turner P.L.C.
  • Ticker: FSTA
  • Exchange: LSE
  • Founded: 1845
  • Industry: Restaurants
  • Sector: Consumer Services
  • Implied Market Cap: UK£303.046m
  • Shares outstanding: 61.72m
  • Website: https://www.fullers.co.uk

Number of Employees


Location

  • Fuller, Smith & Turner P.L.C.
  • Pier House
  • 86-93 Strand-on-the-Green
  • London
  • Greater London
  • W4 3NN
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSTALSE (London Stock Exchange)YesA Ordinary SharesGBGBPJan 1992
FSTAlBATS-CHIXE (BATS 'Chi-X Europe')YesA Ordinary SharesGBGBPJan 1992
1ZJBST (Boerse-Stuttgart)YesA Ordinary SharesDEEURJan 1992
53GWLSE (London Stock Exchange)6% 1ST CUM PRF GBP1GBGBPAug 1996

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/22 00:00
End of Day Share Price2022/09/22 00:00
Earnings2022/03/26
Annual Earnings2022/03/26


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.