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J D Wetherspoon

LSE:JDW
Snowflake Description

Acceptable track record with limited growth.

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

J D Wetherspoon plc owns and operates pubs and hotels in the United Kingdom and the Republic of Ireland. The last earnings update was 69 days ago. More info.


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JDW Share Price and Events
7 Day Returns
0.4%
LSE:JDW
0.3%
GB Hospitality
0.5%
GB Market
1 Year Returns
7.3%
LSE:JDW
-8.7%
GB Hospitality
-5.4%
GB Market
JDW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
J D Wetherspoon (JDW) 0.4% -2.2% 1% 7.3% 78% 65%
GB Hospitality 0.3% -0.1% -2.9% -8.7% 9.7% 28.7%
GB Market 0.5% -1.7% 2.1% -5.4% 13.8% 1.8%
1 Year Return vs Industry and Market
  • JDW outperformed the Hospitality industry which returned -8.7% over the past year.
  • JDW outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.4% over the past year.
Price Volatility
JDW
Industry
5yr Volatility vs Market

JDW Value

 Is J D Wetherspoon 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 J D Wetherspoon 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 J D Wetherspoon.

LSE:JDW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
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:JDW
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 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.927 (1 + (1- 19%) (58.46%))
1.245
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.245 * 6.65%)
9.51%

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

The calculations below outline how an intrinsic value for J D Wetherspoon 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:JDW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.51%)
2019 100.17 Analyst x7 91.48
2020 84.50 Analyst x10 70.46
2021 89.37 Analyst x8 68.05
2022 89.42 Est @ 0.06% 62.18
2023 89.79 Est @ 0.41% 57.02
2024 90.38 Est @ 0.65% 52.41
2025 91.12 Est @ 0.83% 48.25
2026 91.99 Est @ 0.95% 44.48
2027 92.93 Est @ 1.03% 41.04
2028 93.95 Est @ 1.09% 37.88
Present value of next 10 years cash flows £573.24
LSE:JDW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £93.95 × (1 + 1.23%) ÷ (9.51% – 1.23%)
£1,148.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,148.40 ÷ (1 + 9.51%)10
£463.05
LSE:JDW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £573.24 + £463.05
£1,036.30
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,036.30 / 103.10
£10.05
LSE:JDW Discount to Share Price
Calculation Result
Value per share (GBP) From above. £10.05
Current discount Discount to share price of £13.22
= -1 x (£13.22 - £10.05) / £10.05
-31.5%

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

  • The current share price of J D Wetherspoon 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 J D Wetherspoon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are J D Wetherspoon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:JDW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-27) in GBP £0.61
LSE:JDW Share Price ** LSE (2019-05-23) in GBP £13.22
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 34 Publicly-Listed Hospitality Companies 18.11x
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 J D Wetherspoon.

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

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

= 13.22 ÷ 0.61

21.58x

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

  • J D Wetherspoon is overvalued based on earnings compared to the GB Hospitality industry average.
  • J D Wetherspoon is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does J D Wetherspoon's expected growth come at a high price?
Raw Data
LSE:JDW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
6.2%per year
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 28 Publicly-Listed Hospitality Companies 2.05x
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:JDW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.58x ÷ 6.2%

3.5x

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

  • J D Wetherspoon is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on J D Wetherspoon's assets?
Raw Data
LSE:JDW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-27) in GBP £3.02
LSE:JDW Share Price * LSE (2019-05-23) in GBP £13.22
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 54 Publicly-Listed Hospitality Companies 1.38x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,369 Publicly-Listed Companies 1.5x
LSE:JDW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 13.22 ÷ 3.02

4.37x

* Primary Listing of J D Wetherspoon.

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

  • J D Wetherspoon is overvalued based on assets compared to the GB Hospitality industry average.
X
Value checks
We assess J D Wetherspoon'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. J D Wetherspoon 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.

JDW Future Performance

 How is J D Wetherspoon expected to perform in the next 1 to 3 years based on estimates from 13 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
6.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is J D Wetherspoon expected to grow at an attractive rate?
  • J D Wetherspoon's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • J D Wetherspoon's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • J D Wetherspoon'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:JDW Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:JDW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 6.2%
LSE:JDW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3.9%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 12%
United Kingdom of Great Britain and Northern Ireland Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
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:JDW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:JDW Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-07-31
2022-07-31 2,022 202 89 2
2021-07-31 1,942 181 87 13
2020-07-31 1,867 175 82 13
2019-07-31 1,798 173 80 13
LSE:JDW Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-01-27 1,753 204 63
2018-10-27 1,723 190 65
2018-07-29 1,694 176 67
2018-04-29 1,692 175 67
2018-01-28 1,690 173 68
2017-10-28 1,675 175 62
2017-07-30 1,661 177 57
2017-04-29 1,634 159 53
2017-01-22 1,606 141 51
2016-10-22 1,601 136 51
2016-07-24 1,595 131 51
2016-04-24 1,578 150 50

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • J D Wetherspoon's earnings are expected to grow by 6.2% yearly, however this is not considered high growth (20% yearly).
  • J D Wetherspoon's revenue is expected to grow by 3.9% 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:JDW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from J D Wetherspoon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:JDW Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-07-31
2022-07-31 0.85 0.85 0.85 1.00
2021-07-31 0.80 0.81 0.79 5.00
2020-07-31 0.78 0.82 0.76 6.00
2019-07-31 0.76 0.79 0.72 6.00
LSE:JDW Past Financials Data
Date (Data in GBP Millions) EPS *
2019-01-27 0.61
2018-10-27 0.63
2018-07-29 0.65
2018-04-29 0.64
2018-01-28 0.64
2017-10-28 0.58
2017-07-30 0.52
2017-04-29 0.48
2017-01-22 0.45
2016-10-22 0.45
2016-07-24 0.45
2016-04-24 0.43

*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.
  • J D Wetherspoon is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess J D Wetherspoon'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.
J D Wetherspoon has a total score of 2/6, 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.

JDW Past Performance

  How has J D Wetherspoon 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 J D Wetherspoon'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.
  • J D Wetherspoon's year on year earnings growth rate has been positive over the past 5 years.
  • J D Wetherspoon's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • J D Wetherspoon's 1-year earnings growth is negative, it can't be compared to the GB Hospitality industry average.
Earnings and Revenue History
J D Wetherspoon'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 J D Wetherspoon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:JDW Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-27 1,753.03 63.22 42.99
2018-10-27 1,723.43 64.96 42.99
2018-07-29 1,693.82 66.71 42.99
2018-04-29 1,691.76 67.21 44.02
2018-01-28 1,689.71 67.71 45.06
2017-10-28 1,675.23 62.15 45.06
2017-07-30 1,660.75 56.58 45.06
2017-04-29 1,633.57 53.39 48.27
2017-01-22 1,606.38 50.72 51.48
2016-10-22 1,600.79 50.96 51.48
2016-07-24 1,595.20 51.21 51.48
2016-04-24 1,577.50 49.50 52.07
2016-01-24 1,559.81 47.80 52.66
2015-10-24 1,536.86 46.31 52.66
2015-07-26 1,513.92 44.82 52.66
2015-04-26 1,492.20 43.86 52.60
2015-01-25 1,470.47 42.90 52.54
2014-10-25 1,439.90 42.01 52.54
2014-07-27 1,409.33 41.12 52.54
2014-04-27 1,373.55 44.08 52.45
2014-01-26 1,337.76 47.03 52.37
2013-10-26 1,309.35 46.61 52.37
2013-07-28 1,280.93 46.19 52.37
2013-04-28 1,267.54 46.34 48.39
2013-01-27 1,254.15 46.48 44.41
2012-10-27 1,225.64 45.53 44.41
2012-07-29 1,197.13 44.57 44.41

*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.
  • Whilst J D Wetherspoon has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • J D Wetherspoon used its assets more efficiently than the GB Hospitality industry average last year based on Return on Assets.
  • J D Wetherspoon has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess J D Wetherspoon'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.
J D Wetherspoon has a total score of 3/6, 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.

JDW Health

 How is J D Wetherspoon'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 J D Wetherspoon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • J D Wetherspoon's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • J D Wetherspoon's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of J D Wetherspoon'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 0.1x 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 J D Wetherspoon Company Filings, last reported 3 months ago.

LSE:JDW Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-27 312.10 796.78 37.35
2018-10-27 312.10 796.78 37.35
2018-07-29 286.56 828.37 63.09
2018-04-29 286.56 828.37 63.09
2018-01-28 232.97 863.10 63.74
2017-10-28 232.97 863.10 63.74
2017-07-30 258.43 797.22 50.64
2017-04-29 228.82 797.22 50.64
2017-01-22 224.98 775.47 28.73
2016-10-22 224.98 775.47 28.73
2016-07-24 207.45 760.37 46.14
2016-04-24 207.45 760.37 46.14
2016-01-24 236.85 703.98 29.35
2015-10-24 236.85 703.98 29.35
2015-07-26 222.89 673.26 32.18
2015-04-26 222.89 673.26 32.18
2015-01-25 219.62 682.65 28.69
2014-10-25 219.62 682.65 28.69
2014-07-27 227.17 620.76 32.32
2014-04-27 227.17 620.76 32.32
2014-01-26 234.47 562.21 27.03
2013-10-26 234.47 562.21 27.03
2013-07-28 214.92 548.10 29.84
2013-04-28 214.92 548.10 29.84
2013-01-27 193.87 552.82 26.14
2012-10-27 193.87 552.82 26.14
2012-07-29 169.64 556.68 28.04
  • J D Wetherspoon's level of debt (255.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (240.5% vs 255.3% today).
  • Debt is well covered by operating cash flow (25.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.9x coverage).
X
Financial health checks
We assess J D Wetherspoon'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. J D Wetherspoon 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.

JDW Dividends

 What is J D Wetherspoon'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
0.91%
Current annual income from J D Wetherspoon dividends. Estimated to be 0.91% next year.
If you bought £2,000 of J D Wetherspoon shares you are expected to receive £18 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?
  • J D Wetherspoon's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.98%).
  • J D Wetherspoon'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:JDW 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 13 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 3.2%
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:JDW Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-07-31 0.12 1.00
2022-07-31 0.12 2.00
2021-07-31 0.12 14.00
2020-07-31 0.12 15.00
2019-07-31 0.12 15.00
LSE:JDW Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-09-14 0.120 0.968
2017-09-14 0.120 0.978
2016-09-12 0.120 1.264
2016-09-09 0.120 1.268
2015-10-14 0.120 1.631
2015-09-11 0.120 1.648
2014-10-14 0.120 1.539
2014-09-12 0.120 1.517
2013-09-13 0.120 1.551
2012-10-16 0.120 2.079
2012-09-14 0.120 2.481
2011-10-05 0.120 2.862
2011-09-09 0.120 3.040
2011-03-10 0.080 1.859
2010-10-13 0.120 2.788
2010-09-10 0.120 2.745
2010-03-11 0.120 2.668
2009-09-11 0.000 0.000
2009-07-27 0.000 0.000

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

  • J D Wetherspoon is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are stable.
  • J D Wetherspoon is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of J D Wetherspoon's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of J D Wetherspoon's dividends as it is not paying a notable one for United Kingdom of Great Britain and Northern Ireland.
Future Payout to shareholders
  • No need to calculate the sustainability of J D Wetherspoon's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess J D Wetherspoon'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 J D Wetherspoon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. J D Wetherspoon has a total score of 0/6, see the detailed checks below.


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

JDW Management

 What is the CEO of J D Wetherspoon'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
John Hutson
COMPENSATION £1,490,000
AGE 53
CEO Bio

Mr. John Hutson serves as the Chief Executive Officer of JD Wetherspoon PLC. Mr. Hutson served as Managing Director of JD Wetherspoon plc and also served as its Chief Operating Officer since October 2010. Mr. Hutson joined J D Wetherspoon PLC in 1991 and previously served with Allied Domeq. He has been a Director of JD Wetherspoon Plc since 1996. He serves as Member of Management Board at JD Wetherspoon PLC. Mr. Hutson is a graduate of Exeter University.

CEO Compensation
  • John's compensation has been consistent with company performance over the past year, both up more than 20%.
  • John'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 J D Wetherspoon management team in years:

15.3
Average Tenure
49
Average Age
  • The average tenure for the J D Wetherspoon management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

John Hutson

TITLE
CEO, Director & Member of Management Board
COMPENSATION
£1M
AGE
53

Ben Whitley

TITLE
Finance Director
COMPENSATION
£469K
AGE
40

Martin Geoghegan

TITLE
Operations Director & Member of Management Board
COMPENSATION
£342K
AGE
49
TENURE
15.3 yrs

Su Cacioppo

TITLE
Executive Director
COMPENSATION
£841K
AGE
51

David Capstick

TITLE
IT & Property Director and Member of Management Board
AGE
57
TENURE
16.3 yrs

Miles Slade

TITLE
Retail Director & Member of Management Board
AGE
38

James Ullman

TITLE
Audit Director & Member of Management Board
AGE
47
TENURE
2.3 yrs

Nigel Connor

TITLE
Company Secretary & Head of Legal
AGE
49
Board of Directors Tenure

Average tenure and age of the J D Wetherspoon board of directors in years:

10.6
Average Tenure
54.5
Average Age
  • The average tenure for the J D Wetherspoon board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Tim Martin

TITLE
Non-Executive Chairman
COMPENSATION
£341K
AGE
63
TENURE
36.3 yrs

John Hutson

TITLE
CEO, Director & Member of Management Board
COMPENSATION
£1M
AGE
53
TENURE
23.3 yrs

Ben Whitley

TITLE
Finance Director
COMPENSATION
£469K
AGE
40
TENURE
3.5 yrs

Su Cacioppo

TITLE
Executive Director
COMPENSATION
£841K
AGE
51
TENURE
11.2 yrs

Debra van Gene

TITLE
Non-Executive Director
COMPENSATION
£51K
AGE
63
TENURE
13.2 yrs

Richard Beckett

TITLE
Non-Executive Director
COMPENSATION
£51K
AGE
74
TENURE
10.1 yrs

Harry Michael Morley

TITLE
Non-Executive Director
COMPENSATION
£51K
AGE
53
TENURE
2.6 yrs

Liz McMeikan

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£51K
AGE
56
TENURE
6.5 yrs
Who owns this company?
Recent Insider Trading
  • J D Wetherspoon insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
15. May 19 Sell James Ullman Individual 15. May 19 15. May 19 -1,000 £13.36 £-13,360
24. Apr 19 Sell Martin Geoghegan Individual 24. Apr 19 24. Apr 19 -2,500 £0.14 £-340
08. Apr 19 Sell John Hutson Individual 08. Apr 19 08. Apr 19 -5,000 £13.33 £-66,628
01. Apr 19 Sell John Hutson Individual 01. Apr 19 01. Apr 19 -5,000 £13.05 £-65,250
18. Mar 19 Sell Nigel Connor Individual 18. Mar 19 18. Mar 19 -1,613 £13.10 £-21,130
04. Oct 18 Sell Nigel Connor Individual 02. Oct 18 02. Oct 18 -3,448 £12.91 £-44,503
X
Management checks
We assess J D Wetherspoon'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. J D Wetherspoon 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.

JDW News

Simply Wall St News

Why J D Wetherspoon plc (LON:JDW) Looks Like A Quality Company

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for J D Wetherspoon: 20% = UK£63m ÷ UK£312m (Based on the trailing twelve months to January 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Combining J D Wetherspoon's Debt And Its 20% Return On Equity J D Wetherspoon does use a significant amount of debt to increase returns. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Estimating The Intrinsic Value Of J D Wetherspoon plc (LON:JDW)

In this article we are going to estimate the intrinsic value of J D Wetherspoon plc (LON:JDW). … I will use the Discounted Cash Flow (DCF) model! … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Read This Before Buying J D Wetherspoon plc (LON:JDW) Shares

So shareholders might well want to know whether insiders have been buying or selling shares in J D Wetherspoon plc (LON:JDW). … So we know that an insider sold shares at around the present share price of UK£13.27. … While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price.

Simply Wall St -

Is J D Wetherspoon plc's (LON:JDW) CEO Being Overpaid?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does John Hutson's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that J D Wetherspoon plc has a market cap of UK£1.3b, and is paying total annual CEO compensation of UK£1.5m.

Simply Wall St -

Don't Sell J D Wetherspoon plc (LON:JDW) Before You Read This

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

J D Wetherspoon plc (LON:JDW): What Does The Future Look Like?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … In July 2018, J D Wetherspoon plc (LON:JDW) released its latest earnings announcement, whicha

Simply Wall St -

A Closer Look At J D Wetherspoon plc's (LON:JDW) Impressive ROE

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows J D Wetherspoon has a return on equity of 23% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should You Know About J D Wetherspoon plc's (LON:JDW) Future?

Based on J D Wetherspoon plc's (LON:JDW) earnings update in July 2018,. … with profits predicted to increase by 17% next year … the past 5-year average growth rate of 9.1%

Simply Wall St -

An Intrinsic Calculation For J D Wetherspoon plc (LON:JDW) Shows It's 32.62% Undervalued

In this article I am going to calculate the intrinsic value of J D Wetherspoon plc (LON:JDW). … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Should You Buy J D Wetherspoon plc (LON:JDW) For Its Dividend?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, J D Wetherspoon plc (LON:JDW) has paid dividends to shareholders, and these days it yields 1.1%. … Let's dig deeper into whether J D Wetherspoon should have a place in your portfolio.

Simply Wall St -

JDW Company Info

Description

J D Wetherspoon plc owns and operates pubs and hotels in the United Kingdom and the Republic of Ireland. As of July 24, 2017, it operated 895 pubs. The company was founded in 1979 and is headquartered in Watford, the United Kingdom.

Details
Name: J D Wetherspoon plc
JDW
Exchange: LSE
Founded: 1979
£1,362,999,106
103,101,294
Website: http://www.jdwetherspoon.com
Address: J D Wetherspoon plc
Wetherspoon House,
Central Park,
Watford,
Hertfordshire, WD24 4QL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE JDW Ordinary Shares London Stock Exchange GB GBP 02. Nov 1992
OTCPK JDWP.F Ordinary Shares Pink Sheets LLC US USD 02. Nov 1992
DB 0QW Ordinary Shares Deutsche Boerse AG DE EUR 02. Nov 1992
BATS-CHIXE JDWL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Nov 1992
OTCPK JDWP.Y SPONSORED ADR Pink Sheets LLC US USD 02. Jul 1997
Number of employees
Current staff
Staff numbers
40,667
J D Wetherspoon employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 20:37
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/03/15
Last earnings reported: 2019/01/27
Last annual earnings reported: 2018/07/29


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.