Whitbread
- Home ›
- GB ›
- Consumer Services
Whitbread PLC operates hotels and restaurants in the United Kingdom. The last earnings update was 7 days ago. More info.
Add to Portfolio Compare Print
WTB Share Price and Events
7 Day Returns
1 Year Returns
WTB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Whitbread (WTB) | 0.2% | -5.5% | -6.8% | 7.2% | 7.3% | 9% |
| GB Hospitality | -0.5% | -0.9% | -3% | -8.6% | 10.8% | 28.3% |
| GB Market | -1.3% | -3.3% | 0.8% | -5.9% | 12.6% | 0.4% |
1 Year Return vs Industry and Market
- WTB outperformed the Hospitality industry which returned -8.6% over the past year.
- WTB outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.9% over the past year.
WTB Value
Is Whitbread 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
Whitbread
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Whitbread.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 19 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.9% |
| 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.
| 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 | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 19%) (10.44%)) |
0.997 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.997 * 6.65%) |
7.85% |
Discounted Cash Flow Calculation for LSE:WTB using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Whitbread 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.
| Levered FCF (GBP, Millions) | Source |
Present Value Discounted (@ 7.85%) |
|
|---|---|---|---|
| 2019 | -64.06 | Analyst x7 | -59.39 |
| 2020 | -50.58 | Analyst x4 | -43.48 |
| 2021 | 41.96 | Analyst x7 | 33.44 |
| 2022 | -26.00 | Analyst x1 | -19.21 |
| 2023 | 44.00 | Analyst x1 | 30.15 |
| 2024 | 81.00 | Analyst x1 | 51.46 |
| 2025 | 114.80 | Est @ 41.72% | 67.62 |
| 2026 | 148.74 | Est @ 29.57% | 81.24 |
| 2027 | 180.08 | Est @ 21.07% | 91.19 |
| 2028 | 207.31 | Est @ 15.12% | 97.33 |
| Present value of next 10 years cash flows | £330.34 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £207.31 × (1 + 1.23%) ÷ (7.85% – 1.23%) |
£3,166.53 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £3,166.53 ÷ (1 + 7.85%)10 |
£1,486.67 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £330.34 + £1,486.67 |
£1,817.01 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £1,817.01 / 173.36 |
£10.48 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £10.48 |
| Current discount | Discount to share price of
£45.61
= -1 x (£45.61 - £10.48) / £10.48 |
-335.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Whitbread is above its future cash flow value.
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 Whitbread's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Whitbread's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-02-28) in GBP | £1.15 |
| LSE:WTB Share Price ** | LSE (2019-05-24) in GBP | £45.61 |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio | Median Figure of 34 Publicly-Listed Hospitality Companies | 18.43x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 789 Publicly-Listed Companies | 16.18x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Whitbread.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:WTB Share Price ÷ EPS (both in GBP) = 45.61 ÷ 1.15 |
39.59x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whitbread is overvalued based on earnings compared to the GB Hospitality industry average.
- Whitbread is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Whitbread's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 39.59x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts |
-1.4%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 | 1.45x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 39.59x ÷ -1.4% |
-29.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whitbread earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Whitbread's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-02-28) in GBP | £34.51 |
| LSE:WTB Share Price * | LSE (2019-05-24) in GBP | £45.61 |
| United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio | Median Figure of 54 Publicly-Listed Hospitality Companies | 1.33x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,369 Publicly-Listed Companies | 1.48x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:WTB Share Price ÷ Book Value per Share (both in GBP) = 45.61 ÷ 34.51 |
1.32x |
* Primary Listing of Whitbread.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whitbread is good value based on assets compared to the GB Hospitality industry average.
Value checks
We assess Whitbread's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check) Whitbread has a total score of 1/6, 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.
WTB Future Performance
How is Whitbread expected to perform in the next 1 to 3 years based on estimates from 19 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!
Earnings growth vs Low Risk Savings
- Whitbread's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
- Whitbread's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
- Whitbread's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:WTB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts | -1.4% |
| LSE:WTB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts | 5.2% |
| 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 | 10.8% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-02-29 | 2,645 | 406 | 3 | |
| 2023-02-28 | 2,551 | 687 | 418 | 6 |
| 2022-02-28 | 2,382 | 655 | 397 | 10 |
| 2021-02-28 | 2,283 | 592 | 391 | 19 |
| 2020-02-29 | 2,143 | 527 | 1,232 | 19 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-02-28 | 2,049 | 486 | 211 |
| 2018-08-30 | 3,322 | 650 | 436 |
| 2018-05-30 | 3,309 | 636 | 437 |
| 2018-03-01 | 2,007 | 621 | 345 |
| 2017-12-01 | 2,639 | 619 | 409 |
| 2017-08-31 | 2,602 | 617 | 425 |
| 2017-05-31 | 2,854 | 622 | 423 |
| 2017-03-02 | 3,106 | 626 | 422 |
| 2016-12-02 | 3,072 | 637 | 409 |
| 2016-09-01 | 3,038 | 648 | 397 |
| 2016-06-01 | 2,980 | 611 | 394 |
| 2016-03-03 | 2,922 | 573 | 391 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
All data from Whitbread Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-02-29 | ||||
| 2023-02-28 | 3.57 | 3.77 | 3.38 | 2.00 |
| 2022-02-28 | 3.03 | 3.64 | 2.54 | 5.00 |
| 2021-02-28 | 2.63 | 3.29 | 2.03 | 9.00 |
| 2020-02-29 | 2.37 | 2.96 | 2.10 | 7.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2019-02-28 | 1.15 |
| 2018-08-30 | 2.38 |
| 2018-05-30 | 2.39 |
| 2018-03-01 | 1.89 |
| 2017-12-01 | 2.24 |
| 2017-08-31 | 2.33 |
| 2017-05-31 | 2.32 |
| 2017-03-02 | 2.31 |
| 2016-12-02 | 2.25 |
| 2016-09-01 | 2.18 |
| 2016-06-01 | 2.17 |
| 2016-03-03 | 2.16 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Whitbread's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- 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)
- 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)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Whitbread 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.
WTB Past Performance
How has Whitbread 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
Past Earnings growth analysis
- Whitbread's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
- Whitbread's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Whitbread's 1-year earnings growth is negative, it can't be compared to the GB Hospitality industry average.
Earnings and Revenue History
All data from Whitbread Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-02-28 | 2,049.10 | 210.60 | ||
| 2018-08-30 | 3,322.30 | 435.90 | -1.80 | |
| 2018-05-30 | 3,308.70 | 436.95 | -0.90 | |
| 2018-03-01 | 2,007.40 | 345.10 | ||
| 2017-12-01 | 2,638.60 | 408.75 | 0.10 | |
| 2017-08-31 | 2,601.80 | 424.90 | 0.20 | |
| 2017-05-31 | 2,853.90 | 423.25 | 0.10 | |
| 2017-03-02 | 3,106.00 | 421.60 | ||
| 2016-12-02 | 3,071.95 | 409.05 | -2.05 | |
| 2016-09-01 | 3,037.90 | 396.50 | -4.10 | |
| 2016-06-01 | 2,979.85 | 393.85 | -2.05 | |
| 2016-03-03 | 2,921.80 | 391.20 | ||
| 2015-12-03 | 2,838.25 | 384.25 | -1.20 | |
| 2015-08-27 | 2,754.70 | 377.30 | -2.40 | |
| 2015-05-27 | 2,681.40 | 373.70 | -1.20 | |
| 2015-02-26 | 2,608.10 | 370.10 | ||
| 2014-11-26 | 2,525.45 | 355.45 | -0.40 | |
| 2014-08-28 | 2,442.80 | 340.80 | -0.80 | |
| 2014-05-28 | 2,368.55 | 334.35 | -0.40 | |
| 2014-02-27 | 2,294.30 | 327.90 | ||
| 2013-11-27 | 2,225.45 | 315.35 | -94.25 | |
| 2013-08-29 | 2,156.60 | 302.80 | -188.50 | |
| 2013-05-29 | 2,093.30 | 298.55 | 137.05 | |
| 2013-02-28 | 2,030.00 | 294.30 | 462.60 | |
| 2012-11-30 | 1,967.40 | 285.45 | 867.00 | |
| 2012-08-30 | 1,904.80 | 276.60 | 1,271.40 | |
| 2012-05-30 | 1,841.40 | 271.95 | 1,214.65 |
*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.
- Whitbread has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Whitbread used its assets less efficiently than the GB Hospitality industry average last year based on Return on Assets.
- Whitbread's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Whitbread's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Whitbread 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.
WTB Health
How is Whitbread'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 Whitbread's finances.
The net worth of a company is the difference between its assets and liabilities.
- Whitbread is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Whitbread's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 4.3x 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.
All data from Whitbread Company Filings, last reported 2 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-02-28 | 6,202.40 | 825.70 | 3,403.20 |
| 2018-08-30 | 3,015.40 | 967.90 | |
| 2018-05-30 | 3,015.40 | 967.90 | |
| 2018-03-01 | 2,802.50 | 931.30 | 90.60 |
| 2017-12-01 | 2,802.50 | 931.30 | 90.60 |
| 2017-08-31 | 2,681.70 | 992.10 | 129.70 |
| 2017-05-31 | 2,681.70 | 992.10 | 129.70 |
| 2017-03-02 | 2,524.80 | 963.60 | 63.00 |
| 2016-12-02 | 2,524.80 | 963.60 | 63.00 |
| 2016-09-01 | 2,391.80 | 1,075.00 | 73.20 |
| 2016-06-01 | 2,391.80 | 1,075.00 | 73.20 |
| 2016-03-03 | 2,404.70 | 980.90 | 57.10 |
| 2015-12-03 | 2,404.70 | 980.90 | 57.10 |
| 2015-08-27 | 2,131.00 | 904.50 | 163.90 |
| 2015-05-27 | 2,131.00 | 904.50 | 163.90 |
| 2015-02-26 | 1,977.90 | 603.90 | 2.10 |
| 2014-11-26 | 1,977.90 | 603.90 | 2.10 |
| 2014-08-28 | 1,883.40 | 547.80 | 52.70 |
| 2014-05-28 | 1,883.40 | 547.80 | 52.70 |
| 2014-02-27 | 1,783.00 | 462.00 | 41.40 |
| 2013-11-27 | 1,783.00 | 462.00 | 41.40 |
| 2013-08-29 | 1,662.20 | 499.40 | 49.80 |
| 2013-05-29 | 1,662.20 | 499.40 | 49.80 |
| 2013-02-28 | 1,545.30 | 535.20 | 40.80 |
| 2012-11-30 | 1,545.30 | 535.20 | 40.80 |
| 2012-08-30 | 1,348.70 | 603.80 | 49.60 |
| 2012-05-30 | 1,348.70 | 603.80 | 49.60 |
- Whitbread's level of debt (13.3%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (26% vs 13.3% today).
- Debt is well covered by operating cash flow (58.8%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 14.9x coverage).
Financial health checks
We assess Whitbread's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Whitbread has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
WTB Dividends
What is Whitbread'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
If you bought
£2,000 of
Whitbread
shares you are expected to receive
£44
in your first year as a dividend.
Dividend Amount
- Whitbread's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.03%).
- Whitbread's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.33%).
Upcoming dividend payment
Purchase Whitbread before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 19 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.
| Date (Data in £) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2024-02-29 | 1.12 | 1.00 |
| 2023-02-28 | 1.29 | 4.00 |
| 2022-02-28 | 1.14 | 9.00 |
| 2021-02-28 | 1.03 | 22.00 |
| 2020-02-29 | 0.98 | 22.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-17 | 0.997 | 2.192 |
| 2019-04-30 | 0.997 | 2.198 |
| 2018-05-18 | 1.012 | 2.252 |
| 2018-04-25 | 1.012 | 2.394 |
| 2017-05-15 | 0.958 | 2.488 |
| 2017-04-25 | 0.958 | 2.363 |
| 2016-05-11 | 0.904 | 2.342 |
| 2016-04-26 | 0.904 | 2.312 |
| 2015-06-17 | 0.822 | 1.860 |
| 2014-05-09 | 0.688 | 1.493 |
| 2014-04-29 | 0.688 | 1.686 |
| 2013-04-30 | 0.574 | 1.693 |
| 2012-05-01 | 0.513 | 2.254 |
| 2012-04-26 | 0.513 | 2.662 |
| 2010-04-29 | 0.380 | 2.389 |
| 2010-04-28 | 0.380 | 2.430 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Whitbread has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Whitbread only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Whitbread's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Whitbread afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Whitbread has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
WTB Management
CEO
| COMPENSATION | £5,588,000 |
| AGE | 54 |
| TENURE AS CEO | 3.3 years |
CEO Bio
Ms. Alison Brittain, CBE, has been Chief Executive Officer of Whitbread PLC since January 4, 2016. Ms. Brittain serves as an Executive Director of Abbey National plc (ENG). She has significant financial and commercial experience. She has considerable knowledge of running large-scale consumer businesses. Ms. Brittain served as Chair of Practitioner Panel at The Financial Conduct Authority from April 1, 2015 to August 1, 2015. Ms. Brittain served as Group Director of Retail Division at Lloyds Banking Group plc since September 2011. At Lloyds Banking Group, she led the UK’s largest retail banking business and was responsible for the largest part of it, overseeing five divisions including the Bank of Scotland, Lloyds, Halifax, Lloyds Share Dealing and Scottish Widows. She served as the Executive Director of Retail Distribution at Santander UK Group Holdings plc from January 2, 2008 to March 22, 2011. Ms. Brittain served as a Managing Director of Barclays Retail and Woolwich Retail Networks. She served an Executive Director of Alliance & Leicester plc since October 12, 2008. Ms. Brittain served as an Executive Director at Santander UK plc until March 22, 2011. She served senior management roles at Santander UK Group Holdings plc and Barclays Bank. She served as the Director of Retail Distribution at Alliance & Leicester plc since January 2009. She had responsibility for Branch Distribution, Telephone Distribution, e-commerce, Business Banking, Premium Banking and Commercial Mortgages. She has been Director of Whitbread Group Plc since October 13, 2015. She has been an Independent Non-Executive Director of Marks and Spencer Group plc since January 1, 2014. She has been a Director at Whitbread PLC since September 2015. She attended university in Scotland and the USA and has an MBA from Cambridge University’s Judge Institute.
CEO Compensation
- Alison's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
- Alison's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the Whitbread management team in years:
- The tenure for the Whitbread management team is about average.
Management Team
Alison Brittain
Chief Executive & Director
£6M
54
3.3 yrs
Nick Cadbury
Group Finance Director & Executive Director
£3M
52
6.5 yrs
Louise Smalley
Group Human Resource Director & Executive Director
£2M
50
12 yrs
Nigel Jones
Group Operations & Transformation Director
1.8 yrs
Chris Vaughan
General Counsel & Company Secretary
76
3.6 yrs
Simon Jones
Managing Director of Premier Inn & Restaurants UK
42
2.5 yrs
Dominic Paul
Managing Director of Costa
2.9 yrs
Simon Ewins
Managing Director of Premier Inn
0.6 yrs
Mark Anderson
Managing Director Property & International
Phil Birbeck
Managing Director of Restaurants
0.6 yrs
Board of Directors Tenure
Average tenure and age of the Whitbread board of directors in years:
- The average tenure for the Whitbread board of directors is less than 3 years, this suggests a new board.
Board of Directors
Adam Crozier
Chairman
£400K
54
1.2 yrs
Alison Brittain
Chief Executive & Director
£6M
54
3.7 yrs
Nick Cadbury
Group Finance Director & Executive Director
£3M
52
6.5 yrs
Louise Smalley
Group Human Resource Director & Executive Director
£2M
50
6.5 yrs
Chris Kennedy
Independent Non–Executive Director
£80K
54
3.2 yrs
Deanna Oppenheimer
Independent Non–Executive Director
£80K
60
2.3 yrs
Richard Gillingwater
Senior Independent Director
£51K
61
0.9 yrs
Susan Martin
Independent Non–Executive Director
£65K
54
7.3 yrs
David Atkins
Independent Non–Executive Director
£70K
52
2.3 yrs
Frank Fiskers
Independent Non Executive Director
£5K
57
0.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25. Feb 19 | Sell | Louise Smalley | Individual | 25. Feb 19 | 25. Feb 19 | -7,923 | £48.92 | £-387,593 | ||
| 25. Feb 19 | Sell | Louise Smalley | Individual | 25. Feb 19 | 25. Feb 19 | -3,313 | £48.91 | £-162,039 | ||
| 14. Nov 18 | Buy | Adam Crozier | Individual | 13. Nov 18 | 13. Nov 18 | 2,000 | £45.61 | £91,220 | ||
Management checks
We assess Whitbread's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Whitbread 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.
WTB News
Simply Wall St News
A Close Look At Whitbread PLC’s (LON:WTB) 15% ROCE
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleDoes Whitbread PLC's (LON:WTB) Recent Track Record Look Strong?
Investors with a long-term horizong may find it valuable to assess Whitbread PLC's (LON:WTB) earnings trend over time and against its industry benchmark as opposed to simply looking at a sincle earnings announcement at one point in time. … WTB's trailing twelve-month earnings (from 30 August 2018) of UK£436m has. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 6.8%, indicating the rate at which WTB is growing has slowed down
Simply Wall St - – Full articleUnderstanding Your Return On Investment In Whitbread PLC (LON:WTB)
Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … Thus, to understand how your money can grow by investing in Whitbread, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleHow Good Is Whitbread PLC (LON:WTB), When It Comes To ROE?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleAt UK£39.79, Is Whitbread PLC (LON:WTB) A Buy?
maintained its current share price over the past couple of month on the LSE, with a relatively tight range of £38.83 to £42.56? … However, does this price actually reflect the true value of the? … Let’s take a look at Whitbread’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleWhat Should You Know About Whitbread PLC's (LON:WTB) Capital Returns?
Owing to this, it is important that the underlying business is producing a sufficient amount of income from the capital invested by stockholders. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Whitbread’s capital returns we will look at a useful metric called return on capital employed.
Simply Wall St - – Full articleWhy You Should Care About Whitbread PLC’s (LON:WTB) Cash Levels
Two important questions to ask before you buy Whitbread PLC (LON:WTB) is, how it makes money and how it spends its cash. … Free cash flow (FCF) is the amount of cash Whitbread has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations … There are two methods I will use to evaluate the quality of Whitbread’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 - – Full articleWhitbread PLC (LON:WTB): What Is Driving Margins?
Whitbread PLC's (LON:WTB) … stable earnings sentiment … has analysts projecting
Simply Wall St - – Full articleWhitbread PLC (LON:WTB): What We Can Expect From This Growth Stock
Since Whitbread PLC (LON:WTB) released its earnings in March 2018,. … conservative, with earnings growth rate expected to be 8.49% next year, which is within range of the past five-year average earnings growth of 8.99% … Currently with earnings of UK£438.00m, we can expect this to reach UK£475.18m by 2019
Simply Wall St - – Full articleWhat is Behind Whitbread PLC's (LON:WTB) Superior ROE?
and want to better understand how you can grow your money by investing in Whitbread PLC (LON:WTB). … With an ROE of 15.57%, Whitbread PLC (LON:WTB) outpaced its own industry which delivered a less exciting 10.39% over the past year. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden
Simply Wall St - – Full articleWTB Company Info
Description
Whitbread PLC operates hotels and restaurants in the United Kingdom. It operates approximately 800 hotels with 76,171 rooms under the Premier Inn and the hub by Premier Inn brand names; and restaurants under the Brewers Fayre, Beefeater Grill, coockhouse & Pub, Bar+Block, thyme, and Table Table brands. The company was founded in 1742 and is based in Dunstable, the United Kingdom.
Details
| Name: | Whitbread PLC |
| WTB | |
| Exchange: | LSE |
| Founded: | 1742 |
| £7,906,874,525 | |
| 173,358,354 | |
| Website: | http://www.whitbread.co.uk |
| Address: |
Whitbread PLC Whitbread Court, Houghton Hall Business Park, Dunstable, Bedfordshire, LU5 5XE, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | WTB | Ordinary Shares | London Stock Exchange | GB | GBP | 02. Jan 1992 | |
| OTCPK | WTBC.F | Ordinary Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| DB | WHF4 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| BMV | WTB N | Ordinary Shares | Bolsa Mexicana de Valores | MX | MXN | 02. Jan 1992 | |
| BATS-CHIXE | WTBL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 02. Jan 1992 | |
| OTCPK | WTBD.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 17. Oct 2008 |
Number of employees
Current staff
Industry
| Restaurants | |
| Consumer Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/24 21:01 |
| End of day share price update: | 2019/05/24 00:00 |
| Last estimates confirmation: | 2019/05/23 |
| Last earnings filing: | 2019/05/17 |
| Last earnings reported: | 2019/02/28 |
| Last annual earnings reported: | 2019/02/28 |
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.
