Cordiant Digital Infrastructure (LSE:CORD) - Share price, News & Analysis

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

CORD (£1.07) is trading above our estimate of [[fair value]] (£0.85)

CORD fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	1/6
Financial Health	6/6
Dividends	2/6

CORD Stock Overview

Risk Analysis

Dividend of 2.8% is not well covered by earnings

Less than 3 years of financial data is available

Shareholders have been diluted in the past year

Cordiant Digital Infrastructure Competitors

IP Group

LSE:IPO

UK£846.7m

Oakley Capital Investments

LSE:OCI

UK£739.2m

Impax Asset Management Group

AIM:IPX

UK£980.8m

Molten Ventures

LSE:GROW

UK£682.3m

Price History & Performance

Summary of all time highs, changes and price drops for Cordiant Digital Infrastructure
Historical stock prices
Current Share Price	UK£1.07
52 Week High	UK£1.16
52 Week Low	UK£1.02
Beta	0
1 Month Change	2.89%
3 Month Change	0.47%
1 Year Change	-4.46%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	8.08%

Shareholder Returns

	CORD	GB Capital Markets	GB Market
7D	0%	1.5%	0.4%
1Y	-4.5%	-13.5%	-9.0%

Return vs Industry: CORD exceeded the UK Capital Markets industry which returned -13.5% over the past year.

Return vs Market: CORD exceeded the UK Market which returned -7.8% over the past year.

Price Volatility

Is CORD's price volatile compared to industry and market?
CORD volatility
CORD Average Weekly Movement	1.9%
Capital Markets Industry Average Movement	4.5%
Market Average Movement	5.4%
10% most volatile stocks in GB Market	10.8%
10% least volatile stocks in GB Market	2.7%

Stable Share Price: CORD is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: CORD's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2021	342	Benn Mikula	https://www.cordiantdigitaltrust.com

Cordiant Digital Infrastructure Limited is an investment firm specializes in investments in buy & build, capital expenditure and bolt-on acquisitions and digital infrastructure assets in the middle-market. It focuses on investing in companies operating in data and cloud centers, mobile telecommunications/ broadcast towers, distributed sensor networks and fibre-optic network assets businesses. The firm seeks to invest in digital assets in the United Kingdom, Europe, Canada and North America.

Cordiant Digital Infrastructure Fundamentals Summary

How do Cordiant Digital Infrastructure's earnings and revenue compare to its market cap?
CORD fundamental statistics
Market Cap	UK£827.71m
Earnings (TTM)	UK£41.10m
Revenue (TTM)	UK£34.62m

20.1x

P/E Ratio

23.9x

P/S Ratio

Is CORD overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CORD income statement (TTM)
Revenue	UK£34.62m
Cost of Revenue	UK£0
Gross Profit	UK£34.62m
Other Expenses	-UK£6.47m
Earnings	UK£41.10m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.053
Gross Margin	100.00%
Net Profit Margin	118.70%
Debt/Equity Ratio	0.0%

How did CORD perform over the long term?

See historical performance and comparison

Dividends

2.8%

Current Dividend Yield

24%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is CORD 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 CORD?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for CORD. This is calculated by dividing CORD's market cap by their current preferred multiple.
What is CORD's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	UK£827.71m

CORD 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/Revenue	13.7x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

CORD PE Ratio vs Peers

The above table shows the PE ratio for CORD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	13.4x
IPO IP Group	29.8x	n/a	UK£846.7m
OCI Oakley Capital Investments	3x	n/a	UK£739.2m
IPX Impax Asset Management Group	18.6x	1.5%	UK£980.8m
GROW Molten Ventures	2.3x	2.1%	UK£682.3m
CORD Cordiant Digital Infrastructure	20.1x	n/a	UK£827.7m

Price-To-Earnings vs Peers: CORD is expensive based on its Price-To-Earnings Ratio (20.1x) compared to the peer average (13.4x).

Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: CORD is expensive based on its Price-To-Earnings Ratio (20.1x) compared to the UK Capital Markets industry average (10.5x)

Price to Earnings Ratio vs Fair Ratio

What is CORD'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.

CORD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	20.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CORD's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

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

Below Fair Value: CORD (£1.07) is trading above our estimate of fair value (£0.85)

Significantly Below Fair Value: CORD 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: Insufficient data to show price forecast.

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Future Growth

How is Cordiant Digital Infrastructure forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

12.3%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cordiant Digital Infrastructure has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

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Examine Cordiant Digital Infrastructure's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
Cordiant Digital Infrastructure competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Cordiant Digital Infrastructure performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

21.2%

Historical Diversified Financials annual earnings growth

Earnings and Revenue History

Quality Earnings: CORD has high quality earnings.

Growing Profit Margin: Insufficient data to determine if CORD's profit margins have improved over the past year.

Past Earnings Growth Analysis

Earnings Trend: Unable to establish if CORD's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare CORD's past year earnings growth to its 5-year average as it has been trading publicly for less than 3 years.

Earnings vs Industry: Insufficient data to determine if CORD's earnings growth over the past year exceeded the Capital Markets industry average.

Return on Equity

High ROE: CORD's Return on Equity (5%) is considered low.

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Financial Health

How is Cordiant Digital Infrastructure'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: CORD's short term assets (£413.5M) exceed its short term liabilities (£1.0M).

Long Term Liabilities: CORD has no long term liabilities.

Debt to Equity History and Analysis

Debt Level: CORD is debt free.

Reducing Debt: CORD has not had any debt for past 5 years.

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

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

Balance Sheet

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Dividend

What is Cordiant Digital Infrastructure current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

2.80%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: CORD's dividend (2.8%) is higher than the bottom 25% of dividend payers in the UK market (1.8%).

High Dividend: CORD's dividend (2.8%) is low compared to the top 25% of dividend payers in the UK market (5.11%).

Stability and Growth of Payments

Stable Dividend: Too early to tell whether CORD's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if CORD's dividend payments are increasing as they only just started paying a dividend.

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (24%), CORD's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: CORD is paying a dividend but the company has no free cash flows.

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Management

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

CEO

Benn Mikula

no data

Tenure

Mr. Benn Ashelm Mikula is a Managing Partner, Co-CEO and Head of Investments at Cordiant Digital Infrastructure Limited. He serves as a Board Member, Partner and Co-Chief Executive Officer at Cordiant Capi...

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.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 34.9%.

Data	Last Updated (UTC time)
Company Analysis	2022/08/13 00:00
End of Day Share Price	2022/08/12 00:00
Earnings	2022/03/31
Annual Earnings	2022/03/31