Loading...

Whitbread

LSE:WTB
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WTB
LSE
£8B
Market Cap
  1. Home
  2. GB
  3. Consumer Services
Company description

Whitbread PLC operates hotels and restaurants in the United Kingdom. The last earnings update was 60 days ago. More info.


Add to Portfolio Compare Print
WTB Share Price and Events
7 Day Returns
1.7%
LSE:WTB
0.7%
GB Hospitality
-0.2%
GB Market
1 Year Returns
21.8%
LSE:WTB
-1.8%
GB Hospitality
-1.4%
GB Market
WTB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Whitbread (WTB) 1.7% 3.4% 0.8% 21.8% 32.7% 13%
GB Hospitality 0.7% -1% 2.8% -1.8% 12.7% 43%
GB Market -0.2% 1.7% 0.2% -1.4% 11.7% 7.5%
1 Year Return vs Industry and Market
  • WTB outperformed the Hospitality industry which returned -1.8% over the past year.
  • WTB outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -1.4% over the past year.
Price Volatility
WTB
Industry
5yr Volatility vs Market

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Whitbread.

LSE:WTB Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for LSE:WTB
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))
= 0.926 (1 + (1- 19%) (9.76%))
0.999
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% + (0.999 * 6.65%)
7.87%

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.

LSE:WTB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.87%)
2020 -74.85 Analyst x2 -69.39
2021 126.27 Analyst x3 108.51
2022 -33.60 Analyst x2 -26.77
2023 34.00 Analyst x1 25.11
2024 69.00 Analyst x1 47.24
2025 102.01 Est @ 47.84% 64.74
2026 136.55 Est @ 33.86% 80.33
2027 169.42 Est @ 24.07% 92.39
2028 198.58 Est @ 17.22% 100.40
2029 223.25 Est @ 12.42% 104.63
Present value of next 10 years cash flows £527.19
LSE:WTB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £223.25 × (1 + 1.23%) ÷ (7.87% – 1.23%)
£3,400.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £3,400.22 ÷ (1 + 7.87%)10
£1,593.58
LSE:WTB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £527.19 + £1,593.58
£2,120.77
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £2,120.77 / 173.38
£12.23
LSE:WTB Discount to Share Price
Calculation Result
Value per share (GBP) From above. £12.23
Current discount Discount to share price of £48.77
= -1 x (£48.77 - £12.23) / £12.23
-298.7%

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.
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 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?
Raw Data
LSE:WTB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in GBP £1.15
LSE:WTB Share Price ** LSE (2019-07-16) in GBP £48.77
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PE Ratio Median Figure of 33 Publicly-Listed Hospitality Companies 19.88x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 790 Publicly-Listed Companies 16.56x

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

** Primary Listing of Whitbread.

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

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

= 48.77 ÷ 1.15

42.33x

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?
Raw Data
LSE:WTB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 42.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
18.3%per year
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PEG Ratio Median Figure of 28 Publicly-Listed Hospitality Companies 2.27x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:WTB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 42.33x ÷ 18.3%

2.32x

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

  • Whitbread is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Whitbread's assets?
Raw Data
LSE:WTB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in GBP £34.51
LSE:WTB Share Price * LSE (2019-07-16) in GBP £48.77
United Kingdom of Great Britain and Northern Ireland Hospitality Industry PB Ratio Median Figure of 55 Publicly-Listed Hospitality Companies 1.33x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,377 Publicly-Listed Companies 1.5x
LSE:WTB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 48.77 ÷ 34.51

1.41x

* Primary Listing of Whitbread.

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

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

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!
Annual Growth Rate
18.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Whitbread expected to grow at an attractive rate?
  • Whitbread's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Whitbread's earnings growth is expected to exceed 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
Raw Data
LSE:WTB Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:WTB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 18.3%
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 12.2%
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 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:WTB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:WTB Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-02-29 2,662 716 4
2023-02-28 2,572 694 431 6
2022-02-28 2,346 700 412 16
2021-02-28 2,227 640 379 19
2020-02-29 2,098 541 345 18
LSE:WTB Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Whitbread's earnings are expected to grow by 18.3% yearly, however this is not considered high growth (20% yearly).
  • Whitbread's revenue is expected to grow by 5.2% 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:WTB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 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 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:WTB Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-02-29
2023-02-28 3.77 3.77 3.77 1.00
2022-02-28 2.93 3.64 2.39 5.00
2021-02-28 2.70 3.29 2.03 8.00
2020-02-29 2.36 2.96 2.04 7.00
LSE:WTB Past Financials Data
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.

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.
  • Whitbread is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Whitbread'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.
Whitbread has a total score of 3/6, 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
Below we compare Whitbread'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.
  • 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
Whitbread'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 Whitbread Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:WTB Past Revenue, Cash Flow and Net Income Data
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

*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).
X
Past performance checks
We assess Whitbread'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.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Whitbread'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 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.
Raw Data

All data from Whitbread Company Filings, last reported 4 months ago.

LSE:WTB Past Debt and Equity Data
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
  • 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).
X
Financial health checks
We assess Whitbread'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. Whitbread has a total score of 6/6, 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.

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
Dividend payments
2.04%
Current annual income from Whitbread dividends. Estimated to be 2.12% next year.
If you bought £2,000 of Whitbread shares you are expected to receive £41 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?
  • Whitbread's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.94%).
  • Whitbread's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.43%).
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:WTB 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 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 30 Stocks 3.1%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 Stocks 4.2%
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 1.9%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

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

LSE:WTB Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-02-29 1.23 2.00
2023-02-28 1.14 4.00
2022-02-28 1.11 15.00
2021-02-28 1.03 20.00
2020-02-29 0.95 20.00
LSE:WTB Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-06-20 0.997 2.125
2018-05-18 1.012 2.245
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
2009-04-28 0.366 3.206
2009-04-27 0.366 4.059
2008-10-14 0.366 4.436

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 Whitbread's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Whitbread'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 Whitbread afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Whitbread has a total score of 5/6, see the detailed checks below.


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

WTB Management

 What is the CEO of Whitbread'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
Alison Brittain
COMPENSATION £5,588,000
AGE 55
TENURE AS CEO 3.5 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:

3.1
Average Tenure
53
Average Age
  • The tenure for the Whitbread management team is about average.
Management Team

Alison Brittain

TITLE
Chief Executive & Director
COMPENSATION
£6M
AGE
55
TENURE
3.5 yrs

Nick Cadbury

TITLE
Group Finance Director & Executive Director
COMPENSATION
£3M
AGE
53
TENURE
6.7 yrs

Louise Smalley

TITLE
Group Human Resource Director & Executive Director
COMPENSATION
£2M
AGE
51
TENURE
12.2 yrs

Nigel Jones

TITLE
Group Operations & Transformation Director
TENURE
1.9 yrs

Chris Vaughan

TITLE
General Counsel & Company Secretary
AGE
77
TENURE
3.8 yrs

Simon Jones

TITLE
Managing Director of Premier Inn & Restaurants UK
AGE
43
TENURE
2.7 yrs

Dominic Paul

TITLE
Managing Director of Costa
TENURE
3.1 yrs

Simon Ewins

TITLE
Managing Director of Premier Inn
TENURE
0.8 yrs

Mark Anderson

TITLE
Managing Director Property & International

Phil Birbeck

TITLE
Managing Director of Restaurants
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Whitbread board of directors in years:

2.9
Average Tenure
55
Average Age
  • The average tenure for the Whitbread board of directors is less than 3 years, this suggests a new board.
Board of Directors

Adam Crozier

TITLE
Chairman
COMPENSATION
£400K
AGE
55
TENURE
1.3 yrs

Alison Brittain

TITLE
Chief Executive & Director
COMPENSATION
£6M
AGE
55
TENURE
3.8 yrs

Nick Cadbury

TITLE
Group Finance Director & Executive Director
COMPENSATION
£3M
AGE
53
TENURE
6.7 yrs

Louise Smalley

TITLE
Group Human Resource Director & Executive Director
COMPENSATION
£2M
AGE
51
TENURE
6.7 yrs

Chris Kennedy

TITLE
Independent Non–Executive Director
COMPENSATION
£80K
AGE
55
TENURE
3.3 yrs

Deanna Oppenheimer

TITLE
Independent Non–Executive Director
COMPENSATION
£80K
AGE
61
TENURE
2.5 yrs

Richard Gillingwater

TITLE
Senior Independent Director
COMPENSATION
£51K
AGE
62
TENURE
1.1 yrs

Susan Martin

TITLE
Independent Non–Executive Director
COMPENSATION
£65K
AGE
55
TENURE
7.5 yrs

David Atkins

TITLE
Independent Non–Executive Director
COMPENSATION
£70K
AGE
53
TENURE
2.5 yrs

Frank Fiskers

TITLE
Independent Non Executive Director
COMPENSATION
£5K
AGE
58
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • Whitbread individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
01. Jul 19 Sell Nicholas Cadbury Individual 28. Jun 19 28. Jun 19 -295 £46.20 £-13,628
01. Jul 19 Sell Nicholas Cadbury Individual 28. Jun 19 28. Jun 19 -12,665 £46.20 £-585,072
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
X
Management checks
We assess Whitbread'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. 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 -

Does 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 -

Understanding 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 -

How 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 -

At 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 -

What 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 -

Why 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 -

Whitbread PLC (LON:WTB): What Is Driving Margins?

Whitbread PLC's (LON:WTB) … stable earnings sentiment … has analysts projecting

Simply Wall St -

Whitbread 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 -

What 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 -

WTB 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
£8,455,773,178
173,380,627
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
Staff numbers
35,634
Whitbread employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 21:03
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/07/12
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.