AIM:IPX

Stock Analysis Report

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Market Cap

UK£1.4b

Last Updated

2021/07/25 19:20 UTC

Data Sources

Company Financials +

Executive Summary

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

Rewards

Earnings are forecast to grow 38.23% per year

Earnings grew by 58.2% over the past year

Risk Analysis

No risks detected for IPX from our risk checks.


Snowflake Analysis

Flawless balance sheet with outstanding track record.


Similar Companies

Share Price & News

How has Impax Asset Management Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: IPX is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: IPX's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-2.8%

IPX

1.9%

GB Capital Markets

0.6%

GB Market


1 Year Return

189.5%

IPX

12.8%

GB Capital Markets

18.9%

GB Market

Return vs Industry: IPX exceeded the UK Capital Markets industry which returned 12.8% over the past year.

Return vs Market: IPX exceeded the UK Market which returned 18.9% over the past year.


Shareholder returns

IPXIndustryMarket
7 Day-2.8%1.9%0.6%
30 Day-5.4%-0.04%-0.4%
90 Day16.3%1.9%1.4%
1 Year192.8%189.5%16.0%12.8%24.3%18.9%
3 Year363.6%343.3%40.2%25.4%12.1%-0.7%
5 Year2,321.0%2,081.1%104.0%70.2%40.9%13.7%

Long-Term Price Volatility Vs. Market

How volatile is Impax Asset Management Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Impax Asset Management Group undervalued compared to its fair value and its price relative to the market?

66.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: IPX (£11.26) is trading above our estimate of fair value (£2.28)

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


Price To Earnings Ratio

PE vs Industry: IPX is poor value based on its PE Ratio (66.7x) compared to the UK Capital Markets industry average (15x).

PE vs Market: IPX is poor value based on its PE Ratio (66.7x) compared to the UK market (23.7x).


Price to Earnings Growth Ratio

PEG Ratio: IPX is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: IPX is overvalued based on its PB Ratio (17.8x) compared to the GB Capital Markets industry average (1.9x).


Future Growth

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

38.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IPX's forecast earnings growth (38.2% per year) is above the savings rate (0.9%).

Earnings vs Market: IPX's earnings (38.2% per year) are forecast to grow faster than the UK market (16.8% per year).

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

Revenue vs Market: IPX's revenue (16.6% per year) is forecast to grow faster than the UK market (5.3% per year).

High Growth Revenue: IPX's revenue (16.6% 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 very high in 3 years time (59.3%).


Past Performance

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

29.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: IPX has high quality earnings.

Growing Profit Margin: IPX's current net profit margins (19.9%) are higher than last year (16.6%).


Past Earnings Growth Analysis

Earnings Trend: IPX's earnings have grown significantly by 29.4% per year over the past 5 years.

Accelerating Growth: IPX's earnings growth over the past year (58.2%) exceeds its 5-year average (29.4% per year).

Earnings vs Industry: IPX earnings growth over the past year (58.2%) exceeded the Capital Markets industry 21.8%.


Return on Equity

High ROE: IPX's Return on Equity (26.8%) is considered high.


Financial Health

How is Impax Asset Management Group's financial position?


Financial Position Analysis

Short Term Liabilities: IPX's short term assets (£73.1M) exceed its short term liabilities (£29.1M).

Long Term Liabilities: IPX's short term assets (£73.1M) exceed its long term liabilities (£8.8M).


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


Dividend

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

0.92%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: IPX's dividend (0.92%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.31%).

High Dividend: IPX's dividend (0.92%) is low compared to the top 25% of dividend payers in the UK market (4.03%).


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.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.6%), IPX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: IPX's dividends in 3 years are forecast to be covered by earnings (65.4% payout ratio).


Next Steps

Management

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

7.3yrs

Average management tenure


CEO

Ian Simm (54 yo)

15.92yrs

Tenure

UK£1,405,561

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 ($USD1.93M) is above average for companies of similar size in the UK market ($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 (7.3 years average tenure).


Board Members

Experienced Board: IPX's board of directors are considered experienced (3.1 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 company bio, 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
  • Market Cap: UK£1.388b
  • Shares outstanding: 123.24m
  • 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


Biography

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...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/07/25 19:20
End of Day Share Price2021/07/23 00:00
Earnings2021/03/31
Annual Earnings2020/09/30


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.