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Impax Asset Management Group

AIM:IPX
Snowflake Description

Outstanding track record with excellent balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPX
AIM
£233M
Market Cap
  1. Home
  2. GB
  3. Diversified Financials
Company description

Impax Asset Management Group plc, through its subsidiaries, 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. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Impax Asset Management Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Impax Asset Management Group has significant price volatility in the past 3 months.
IPX Share Price and Events
7 Day Returns
-5%
AIM:IPX
0.3%
GB Capital Markets
-1.2%
GB Market
1 Year Returns
0.5%
AIM:IPX
1.7%
GB Capital Markets
-11%
GB Market
IPX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Impax Asset Management Group (IPX) -5% -9.3% -25.1% 0.5% 340.5% 245.8%
GB Capital Markets 0.3% 6.4% 1.2% 1.7% 47.6% 52.9%
GB Market -1.2% 2% -2.5% -11% 13.8% -8.3%
1 Year Return vs Industry and Market
  • IPX underperformed the Capital Markets industry which returned 1.7% over the past year.
  • IPX outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -11% over the past year.
Price Volatility
IPX
Industry
5yr Volatility vs Market

IPX Value

 Is Impax Asset Management Group 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 Impax Asset Management Group 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 Impax Asset Management Group.

AIM:IPX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= £0.26 * 19.6%
£0.05
Book Value of Equity per Share Median Book Value from the past 5 years. £0.26
Discount Rate (Cost of Equity) See below 8.2%
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 AIM:IPX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 8.8%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.702 (1 + (1- 19%) (4.27%))
0.727
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.8 * 8.77%)
8.25%

Discounted Cash Flow Calculation for AIM:IPX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Impax Asset Management Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AIM:IPX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (19.6% – 8.25%) * £0.26)
£0.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.03 / (8.25% - 1.23%)
£0.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £0.26 + £0.42
£0.68
AIM:IPX Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.68
Current discount Discount to share price of £1.85
= -1 x (£1.85 - £0.68) / £0.68
-171.1%

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

  • The current share price of Impax Asset Management Group 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 Impax Asset Management Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Impax Asset Management Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:IPX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in GBP £0.09
AIM:IPX Share Price ** AIM (2019-01-18) in GBP £1.85
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PE Ratio Median Figure of 50 Publicly-Listed Capital Markets Companies 19.71x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 815 Publicly-Listed Companies 15.73x

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

** Primary Listing of Impax Asset Management Group.

AIM:IPX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:IPX Share Price ÷ EPS (both in GBP)

= 1.85 ÷ 0.09

20.6x

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

  • Impax Asset Management Group is overvalued based on earnings compared to the GB Capital Markets industry average.
  • Impax Asset Management Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Impax Asset Management Group's expected growth come at a high price?
Raw Data
AIM:IPX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
21.7%per year
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PEG Ratio Median Figure of 24 Publicly-Listed Capital Markets Companies 1.24x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

AIM:IPX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.6x ÷ 21.7%

0.95x

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

  • Impax Asset Management Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Impax Asset Management Group's assets?
Raw Data
AIM:IPX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in GBP £0.44
AIM:IPX Share Price * AIM (2019-01-18) in GBP £1.85
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PB Ratio Median Figure of 82 Publicly-Listed Capital Markets Companies 1.62x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,360 Publicly-Listed Companies 1.49x
AIM:IPX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:IPX Share Price ÷ Book Value per Share (both in GBP)

= 1.85 ÷ 0.44

4.24x

* Primary Listing of Impax Asset Management Group.

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

  • Impax Asset Management Group is overvalued based on assets compared to the GB Capital Markets industry average.
X
Value checks
We assess Impax Asset Management Group'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Impax Asset Management Group 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.

IPX Future Performance

 How is Impax Asset Management Group expected to perform in the next 1 to 3 years based on estimates from 3 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
21.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Impax Asset Management Group expected to grow at an attractive rate?
  • Impax Asset Management Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Impax Asset Management Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Impax Asset Management Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:IPX Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:IPX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 21.7%
AIM:IPX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 11.1%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 11.3%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 7.4%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
AIM:IPX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:IPX Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 93 21 2
2020-09-30 84 17 3
2019-09-30 76 14 2
AIM:IPX Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-09-30 66 25 11
2018-06-30 55 16 10
2018-03-31 44 7 9
2017-12-31 39 6 8
2017-09-30 33 5 7
2017-06-30 29 4 6
2017-03-31 26 3 5
2016-12-31 23 3 4
2016-09-30 21 2 4
2016-06-30 20 2 4
2016-03-31 19 2 3
2015-12-31 19 1 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Impax Asset Management Group's earnings are expected to grow significantly at over 20% yearly.
  • Impax Asset Management Group's revenue is expected to grow by 11.1% 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
AIM:IPX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Impax Asset Management Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:IPX Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30
2020-09-30
2019-09-30
AIM:IPX Past Financials Data
Date (Data in GBP Millions) EPS *
2018-09-30 0.09
2018-06-30 0.08
2018-03-31 0.08
2017-12-31 0.07
2017-09-30 0.06
2017-06-30 0.05
2017-03-31 0.04
2016-12-31 0.04
2016-09-30 0.04
2016-06-30 0.03
2016-03-31 0.03
2015-12-31 0.03

*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.
  • Unable to establish if Impax Asset Management Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Impax Asset Management Group'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.
Impax Asset Management Group has a total score of 4/6, 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.

IPX Past Performance

  How has Impax Asset Management Group 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 Impax Asset Management Group's growth in the last year to its industry (Capital Markets).
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.
  • Impax Asset Management Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Impax Asset Management Group's 1-year earnings growth exceeds its 5-year average (48% vs 28%)
  • Impax Asset Management Group's earnings growth has exceeded the GB Capital Markets industry average in the past year (48% vs 5.6%).
Earnings and Revenue History
Impax Asset Management Group'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 Impax Asset Management Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:IPX Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 65.68 10.66 5.94 1.08
2018-06-30 55.05 9.82 4.85 0.54
2018-03-31 44.43 8.97 1.82
2017-12-31 38.56 8.09 1.82
2017-09-30 32.69 7.21 3.76
2017-06-30 29.14 6.06 2.44
2017-03-31 25.58 4.91 1.12
2016-12-31 23.32 4.47 1.08
2016-09-30 21.07 4.04 1.03
2016-06-30 19.90 3.66 0.30
2016-03-31 18.74 3.28 -0.43
2015-12-31 19.23 3.45 -0.30
2015-09-30 19.73 3.63 -0.18
2015-06-30 20.30 3.68 0.19
2015-03-31 20.87 3.72 0.55
2014-12-31 20.61 3.49 0.82
2014-09-30 20.36 3.26 1.10
2014-06-30 20.03 3.08 1.37
2014-03-31 19.70 2.90 1.64
2013-12-31 19.08 2.93 1.33
2013-09-30 18.46 2.96 1.02
2013-06-30 18.28 0.97 5.41
2013-03-31 18.10 -1.02 9.79
2012-12-31 18.36 -2.84 9.75
2012-09-30 18.62 -4.65 9.71
2012-06-30 19.44 -3.67 7.25
2012-03-31 20.27 -2.69 4.79

*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.
  • Impax Asset Management Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Impax Asset Management Group used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
  • Impax Asset Management Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Impax Asset Management Group'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 Capital Markets 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.
Impax Asset Management Group has a total score of 6/6, 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.

IPX Health

 How is Impax Asset Management Group'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 Impax Asset Management Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Impax Asset Management Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Impax Asset Management Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Impax Asset Management Group'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.8x 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 Impax Asset Management Group Company Filings, last reported 3 months ago.

AIM:IPX Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 53.52 9.98 31.09
2018-06-30 53.52 9.98 31.09
2018-03-31 47.81 11.16 17.96
2017-12-31 47.81 11.16 17.96
2017-09-30 35.64 0.00 33.73
2017-06-30 35.64 0.00 33.73
2017-03-31 28.37 0.00 28.84
2016-12-31 28.37 0.00 28.84
2016-09-30 26.75 0.00 28.51
2016-06-30 26.75 0.00 28.51
2016-03-31 24.54 0.00 24.08
2015-12-31 24.54 0.00 24.08
2015-09-30 25.93 0.00 26.94
2015-06-30 25.93 0.00 26.94
2015-03-31 25.17 0.00 24.22
2014-12-31 25.17 0.00 24.22
2014-09-30 24.86 0.00 28.89
2014-06-30 24.86 0.00 28.89
2014-03-31 23.53 0.00 24.43
2013-12-31 23.53 0.00 24.43
2013-09-30 22.94 0.00 25.89
2013-06-30 22.94 0.00 25.89
2013-03-31 22.76 0.00 24.47
2012-12-31 22.76 0.00 24.47
2012-09-30 22.57 0.00 28.38
2012-06-30 22.57 0.00 28.38
2012-03-31 22.20 0.00 25.65
  • Impax Asset Management Group's level of debt (18.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 18.6% today).
  • Debt is well covered by operating cash flow (250.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 40.9x coverage).
X
Financial health checks
We assess Impax Asset Management Group'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. Impax Asset Management Group has a total score of 5/6, 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.

IPX Dividends

 What is Impax Asset Management Group'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
2.22%
Current annual income from Impax Asset Management Group dividends. Estimated to be 3.05% next year.
If you bought £2,000 of Impax Asset Management Group shares you are expected to receive £44 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?
  • Impax Asset Management Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Impax Asset Management Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.36%).
Upcoming dividend payment

Purchase Impax Asset Management Group on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
AIM:IPX 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 3 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 39 Stocks 2.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 708 Stocks 4.4%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.1%
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 5.4%

Industry and Market average data is calculated daily.

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

AIM:IPX Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.07 2.00
2020-09-30 0.06 3.00
2019-09-30 0.05 2.00
AIM:IPX Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-12-07 0.041 2.043
2018-12-06 0.041 2.005
2017-12-01 0.029 1.513
2017-11-29 0.029 1.819
2017-05-11 0.023 2.041
2016-12-01 0.021 2.920
2016-11-29 0.021 4.173
2015-12-03 0.016 3.457
2014-11-27 0.022 4.420
2014-05-15 0.006 1.222
2013-11-28 0.009 1.743
2013-11-27 0.009 2.169
2012-11-29 0.008 2.038
2012-11-28 0.008 2.335
2011-11-29 0.007 1.600
2011-11-28 0.007 1.657
2011-01-21 0.006 1.035
2009-12-09 0.004 0.824
2009-11-30 0.004 1.096
2009-01-19 0.004 1.415

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Impax Asset Management Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x 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 Impax Asset Management Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Impax Asset Management Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Impax Asset Management Group has a total score of 4/6, see the detailed checks below.


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

IPX Management

 What is the CEO of Impax Asset Management Group'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
Ian Simm
COMPENSATION £953,604
AGE 51
TENURE AS CEO 13.4 years
CEO Bio

Mr. Ian Richard Simm is the Founder and Chief Executive since August 19, 2005 at Impax Asset Management Group plc and has been its Managing Director, Portfolio Manager and Executive Director. Mr. Simm has been responsible for building the firm since 1998, particularly its listed equity and infrastructure teams and investment products. He is also responsible for substantial day-to-day exposure to the process of investment in and management of companies in the environmental infrastructure and technologies sector. Mr. Simm served as Joint Managing Director at the firm. Previously, he served as a Portfolio Manager at PAX World Management Corporation. Prior to this, Mr. Simm was an Engagement Manager at McKinsey & Co., where he advised clients on strategies in environmentally sensitive industries, including energy, waste management and the automotive sector. Mr. Simm serves as Executive Director of Impax Asset Management Limited. He served as Member of Advisory Board for Europe of Cleantech Network, LLC. Mr. Simm received a Masters in Public Administration from Harvard University and graduated with a first class Honors degree in Physics from the University of Cambridge.

CEO Compensation
  • Ian's compensation has been consistent with company performance over the past year.
  • Ian'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 Impax Asset Management Group management team in years:

4.3
Average Tenure
52
Average Age
  • The tenure for the Impax Asset Management Group management team is about average.
Management Team

Ian Simm

TITLE
Founder
COMPENSATION
£954K
AGE
51
TENURE
13.4 yrs

Charlie Ridge

TITLE
Chief Financial Officer
AGE
54

Zack Wilson

TITLE
Group General Counsel & Company Secretary
TENURE
8 yrs

Anne Gilding

TITLE
Head of Brand & Communications and Director

Roz Reid

TITLE
Head of Human Resources
TENURE
4.3 yrs

Bruce Jenkyn-Jones

TITLE
Co-head of the Listed Equity business
AGE
52
TENURE
1.6 yrs

Peter Van Rossbach

TITLE
Managing Director of Private Equity Infrastructure
AGE
59

Hu Aarts

TITLE
Co-Head of the Listed Equity business
AGE
47
TENURE
1.6 yrs

Jon Forster

TITLE
MD & Senior Portfolio Manager
AGE
47
TENURE
1.6 yrs

Daniel von Preyss

TITLE
Head of Private Equity Infrastructure (Europe)
AGE
55
TENURE
9.6 yrs
Board of Directors Tenure

Average tenure and age of the Impax Asset Management Group board of directors in years:

3.5
Average Tenure
53.5
Average Age
  • The tenure for the Impax Asset Management Group board of directors is about average.
Board of Directors

James Keith Falconer

TITLE
Chairman
COMPENSATION
£70K
AGE
63
TENURE
15 yrs

Ian Simm

TITLE
Founder
COMPENSATION
£954K
AGE
51
TENURE
18 yrs

Vince O'Brien

TITLE
Senior Independent Director
COMPENSATION
£40K
AGE
59

Sally Bridgeland

TITLE
Independent Non-Executive Director
COMPENSATION
£40K
AGE
53
TENURE
3.5 yrs

Lindsey Martinez

TITLE
Independent Non-Executive Director
COMPENSATION
£37K
AGE
50
TENURE
3.5 yrs

Arnaud Jacques Gilbert de Beauchef de Servigny

TITLE
Non-Executive Director
COMPENSATION
£10K
AGE
54
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
27. Mar 18 Buy Ian Simm Individual 27. Mar 18 27. Mar 18 8,928 £1.53 £13,687
27. Mar 18 Sell Ian Simm Individual 27. Mar 18 27. Mar 18 -8,955 £1.53 £-13,701
X
Management checks
We assess Impax Asset Management Group'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. Impax Asset Management Group 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.

IPX News

External News
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Simply Wall St News

Is Impax Asset Management Group plc (LON:IPX) Still A Cheap Financial Stock?

is a capital market firm operating in an industry, … which now face the choice of either being disintermediated or proactively disrupting their own business models to thrive in the future … Many banks and capital markets firms, particularly the large, complex institutions, have been simplifying their business and operating models over the last few years, both for economic reasons and to reduce organizational complexity

Simply Wall St -

Only 2 Days Left Before Impax Asset Management Group plc (LON:IPX) Will Start Trading Ex-Dividend, Should Investors Buy?

Have you been keeping an eye on Impax Asset Management Group plc's (LON:IPX) upcoming dividend of £0.037 per share payable on the 20 July 2018? … Below, I will explain how holding Impax Asset Management Group can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … View out our latest analysis for Impax Asset Management Group?

Simply Wall St -

Impax Asset Management Group plc (LON:IPX): How Does It Impact Your Portfolio?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … IPX's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … How IPX's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive.

Simply Wall St -

Why Impax Asset Management Group plc's (LON:IPX) Investor Composition Impacts Your Returns

In this article, I will take a quick look at Impax Asset Management Group plc’s (AIM:IPX) recent ownership structure – an unconventional investing subject, but an important one. … Check out our latest analysis for Impax Asset Management Group AIM:IPX Ownership_summary May 8th 18 Institutional Ownership Institutions account for 86.28% of IPX's outstanding shares, a significant enough holding to move stock prices if they start buying and selling in large quantities, especially when there are relatively small amounts of shares available on the market to trade. … Insider ownership has been linked to better alignment between management and shareholders.

Simply Wall St -

Is It Time To Sell Impax Asset Management Group plc (LON:IPX) Based Off Its PE Ratio?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for IPX Price per share = £1.61 Earnings per share = £0.065 ∴ Price-Earnings Ratio = £1.61 ÷ £0.065 = 24.8x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Ultimately, our goal is to compare the stock’s P/E ratio to the average of companies that have similar attributes to IPX, such as company lifetime and products sold.

Simply Wall St -

At £1.555, Is It Time To Buy Impax Asset Management Group plc (LON:IPX)?

Let’s take a look at Impax Asset Management Group’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Furthermore, Impax Asset Management Group’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … What does the future of Impax Asset Management Group look like?

Simply Wall St -

Should Impax Asset Management Group plc (LON:IPX) Be Part Of Your Dividend Portfolio?

Over the past 9 years, Impax Asset Management Group plc (AIM:IPX) has returned an average of 2.00% per year to shareholders in terms of dividend yield. … See our latest analysis for Impax Asset Management Group 5 questions I ask before picking a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is it the top 25% annual dividend yield payer? … AIM:IPX Historical Dividend Yield Mar 16th 18 Does Impax Asset Management Group pass our checks?

Simply Wall St -

Does Impax Asset Management Group plc's (LON:IPX) 78.23% Earnings Growth Reflect The Long-Term Trend?

View our latest analysis for Impax Asset Management Group Commentary On IPX's Past Performance To account for any quarterly or half-yearly updates, I use the ‘latest twelve-month’ data, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … For Impax Asset Management Group, its latest earnings (trailing twelve month) is UK£7.21M, which, against the previous year's figure, has climbed up by a non-trivial 78.23%. … Since these values may be fairly myopic, I’ve determined an annualized five-year figure for IPX's net income, which stands at UK£2.22M This suggests that, generally, Impax Asset Management Group has been able to gradually grow its net income over the last couple of years as well.

Simply Wall St -

Is Buying Impax Asset Management Group plc (LON:IPX) For Its Upcoming £0.02 Dividend A Good Choice?

View our latest analysis for Impax Asset Management Group 5 checks you should do on a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is its annual yield among the top 25% of dividend-paying companies? … AIM:IPX Historical Dividend Yield Feb 4th 18 How does Impax Asset Management Group fare? … Unfortunately, it is really too early to view Impax Asset Management Group as a dividend investment.

Simply Wall St -

Interested In Impax Asset Management Group plc (LON:IPX)’s Upcoming £0.02 Dividend? You Have 7 Days Left

See our latest analysis for Impax Asset Management Group 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … AIM:IPX Historical Dividend Yield Jan 31st 18 Does Impax Asset Management Group pass our checks? … Next Steps: After digging a little deeper into Impax Asset Management Group's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

IPX Company Info

Map
Description

Impax Asset Management Group plc, through its subsidiaries, 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. The company was formerly known as Impax Group plc and changed its name to Impax Asset Management Group plc in October 2009. Impax Asset Management Group plc was founded in 1998 and is based in London, the United Kingdom.

Details
Name: Impax Asset Management Group plc
IPX
Exchange: AIM
Founded: 1998
£233,428,325
120,790,854
Website: http://www.impax.co.uk
Address: Impax Asset Management Group plc
30 Panton Street,
7th floor,
London,
Greater London, SW1Y 4AJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM IPX Ordinary Shares London Stock Exchange AIM Market GB GBP 04. Dec 1996
Number of employees
Current staff
Staff numbers
137
Impax Asset Management Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/18 20:41
End of day share price update: 2019/01/18 00:00
Last estimates confirmation: 2019/01/07
Last earnings filing: 2018/12/07
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/09/30


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.