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IPX

Impax Asset Management Group AIM:IPX Stock Report

Last Price

UK£7.28

Market Cap

UK£945.7m

7D

-0.1%

1Y

-42.9%

Updated

11 Aug, 2022

Data

Company Financials +
IPX fundamental analysis
Snowflake Score
Valuation0/6
Future Growth3/6
Past Performance6/6
Financial Health6/6
Dividends4/6

IPX Stock Overview

Impax Asset Management Group plc is a publicly owned investment manager.

Impax Asset Management Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Impax Asset Management Group
Historical stock prices
Current Share PriceUK£7.28
52 Week HighUK£15.08
52 Week LowUK£5.39
Beta1.48
1 Month Change26.83%
3 Month Change-0.68%
1 Year Change-42.86%
3 Year Change217.21%
5 Year Change578.79%
Change since IPO1,341.58%

Recent News & Updates

Shareholder Returns

IPXGB Capital MarketsGB Market
7D-0.1%1.9%-0.3%
1Y-42.9%-13.4%-9.1%

Return vs Industry: IPX underperformed the UK Capital Markets industry which returned -14% over the past year.

Return vs Market: IPX underperformed the UK Market which returned -8.9% over the past year.

Price Volatility

Is IPX's price volatile compared to industry and market?
IPX volatility
IPX Average Weekly Movement8.2%
Capital Markets Industry Average Movement4.6%
Market Average Movement5.4%
10% most volatile stocks in GB Market10.8%
10% least volatile stocks in GB Market2.7%

Stable Share Price: IPX is more volatile than 75% of UK stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: IPX's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of UK stocks.

About the Company

FoundedEmployeesCEOWebsite
1998230Ian Simmhttps://www.impax.co.uk

Impax Asset Management Group plc is a publicly owned investment manager. Through its subsidiaries, it provides investment services to funds specializing in the environmental markets sector, with a focus on alternative energy, water, and waste sectors, primarily in the United Kingdom. It manages a range of funds and segregated accounts on behalf of institutional and private investors.

Impax Asset Management Group Fundamentals Summary

How do Impax Asset Management Group's earnings and revenue compare to its market cap?
IPX fundamental statistics
Market CapUK£945.70m
Earnings (TTM)UK£52.86m
Revenue (TTM)UK£171.11m

17.9x

P/E Ratio

5.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
IPX income statement (TTM)
RevenueUK£171.11m
Cost of RevenueUK£88.46m
Gross ProfitUK£82.64m
Other ExpensesUK£29.79m
EarningsUK£52.86m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.41
Gross Margin48.30%
Net Profit Margin30.89%
Debt/Equity Ratio0%

How did IPX perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

53%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

IPX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5.1x
Enterprise Value/EBITDA13.4x
PEG Ratio12x

Price to Earnings Ratio vs Peers

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

IPX PE Ratio vs Peers
The above table shows the PE ratio for IPX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.1x
OCI Oakley Capital Investments
3xn/aUK£745.4m
JTC JTC
41x18.8%UK£1.1b
LIO Liontrust Asset Management
10.9xn/aUK£644.7m
JUP Jupiter Fund Management
5.4x3.6%UK£634.8m
IPX Impax Asset Management Group
17.9x1.5%UK£945.7m

Price-To-Earnings vs Peers: IPX is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the peer average (15.1x).


Price to Earnings Ratio vs Industry

How does IPX's PE Ratio compare vs other companies in the GB Capital Markets Industry?

Price-To-Earnings vs Industry: IPX is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the UK Capital Markets industry average (10.5x)


Price to Earnings Ratio vs Fair Ratio

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

IPX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.9x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: IPX is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).


Share Price vs Fair Value

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

Below Fair Value: IPX (£7.28) is trading above our estimate of fair value (£6.01)

Significantly Below Fair Value: IPX is trading above our estimate of fair value.


Analyst Price Targets

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

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


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Future Growth

How is Impax Asset Management Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


1.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IPX's forecast earnings growth (1.5% per year) is above the savings rate (0.9%).

Earnings vs Market: IPX's earnings (1.5% per year) are forecast to grow slower than the UK market (9.4% per year).

High Growth Earnings: IPX's earnings are forecast to grow, but not significantly.

Revenue vs Market: IPX's revenue (6.5% per year) is forecast to grow faster than the UK market (3.9% per year).

High Growth Revenue: IPX's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: IPX's Return on Equity is forecast to be high in 3 years time (36%)


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Past Performance

How has Impax Asset Management Group performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


40.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: IPX has high quality earnings.

Growing Profit Margin: IPX's current net profit margins (30.9%) are higher than last year (19.9%).


Past Earnings Growth Analysis

Earnings Trend: IPX's earnings have grown significantly by 40.4% per year over the past 5 years.

Accelerating Growth: IPX's earnings growth over the past year (148.7%) exceeds its 5-year average (40.4% per year).

Earnings vs Industry: IPX earnings growth over the past year (148.7%) exceeded the Capital Markets industry 23.2%.


Return on Equity

High ROE: IPX's Return on Equity (46.8%) is considered outstanding.


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Financial Health

How is Impax Asset Management Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: IPX's short term assets (£118.3M) exceed its short term liabilities (£43.1M).

Long Term Liabilities: IPX's short term assets (£118.3M) exceed its long term liabilities (£8.0M).


Debt to Equity History and Analysis

Debt Level: IPX is debt free.

Reducing Debt: IPX had no debt 5 years ago.

Debt Coverage: IPX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: IPX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Impax Asset Management Group current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.83%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: IPX's dividend (2.83%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).

High Dividend: IPX's dividend (2.83%) is low compared to the top 25% of dividend payers in the UK market (5.11%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (52.9%), IPX's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (40.2%), IPX's dividend payments are well covered by cash flows.


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Management

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

8.4yrs

Average management tenure


CEO

Ian Simm (55 yo)

24.58yrs

Tenure

UK£2,296,521

Compensation

Mr. Ian Richard Simm is the Founder and Chief Executive at Impax Asset Management Group plc since August 19, 2005 and has been its Managing Director, Portfolio Manager and Executive Director. Mr. Simm has...


CEO Compensation Analysis

Compensation vs Market: Ian's total compensation ($USD2.80M) is above average for companies of similar size in the UK market ($USD1.37M).

Compensation vs Earnings: Ian's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: IPX's management team is seasoned and experienced (8.4 years average tenure).


Board Members

Experienced Board: IPX's board of directors are considered experienced (7.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Impax Asset Management Group plc's employee growth, exchange listings and data sources


Key Information

  • Name: Impax Asset Management Group plc
  • Ticker: IPX
  • Exchange: AIM
  • Founded: 1998
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: UK£945.702m
  • Shares outstanding: 129.90m
  • Website: https://www.impax.co.uk

Number of Employees


Location

  • Impax Asset Management Group plc
  • 30 Panton Street
  • 7th floor
  • London
  • Greater London
  • SW1Y 4AJ
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/11 00:00
End of Day Share Price2022/08/11 00:00
Earnings2022/03/31
Annual Earnings2021/09/30


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.