Hargreaves Lansdown
Hargreaves Lansdown plc provides direct-to-investor investment services for individuals and corporates in the United Kingdom and Poland. The last earnings update was 86 days ago. More info.
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- Hargreaves Lansdown has significant price volatility in the past 3 months.
HL. Share Price and Events
7 Day Returns
1 Year Returns
HL. Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Hargreaves Lansdown (HL.) | 2.1% | 24% | 22.6% | 26.9% | 72.1% | 83.1% |
| GB Capital Markets | 0.5% | 11.3% | 9.2% | 8.8% | 46% | 74.3% |
| GB Market | 1.2% | 5.3% | 9.8% | 2.5% | 16.9% | 6.7% |
1 Year Return vs Industry and Market
- HL. outperformed the Capital Markets industry which returned 8.8% over the past year.
- HL. outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
HL. Value
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
Hargreaves Lansdown
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Hargreaves Lansdown.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity = £1.26 * 54.4% |
£0.68 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 4 analysts. | £1.26 |
| Discount Rate (Cost of Equity) | See below | 6.7% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year GB Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 6.7% |
| Capital Markets Unlevered Beta | Simply Wall St/ S&P Global | 0.73 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 19%) (0%)) |
0.822 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.82 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.822 * 6.65%) |
6.69% |
Discounted Cash Flow Calculation for LSE:HL. using Excess Returns Model Model
The calculations below outline how an intrinsic value for Hargreaves Lansdown 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.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (54.4% – 6.69%) * £1.26) |
£0.60 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= £0.60 / (6.69% - 1.23%) |
£10.94 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= £1.26 + £10.94 |
£12.2 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £12.20 |
| Current discount | Discount to share price of
£22.25
= -1 x (£22.25 - £12.20) / £12.20 |
-82.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Hargreaves Lansdown is above its future cash flow value.
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 Hargreaves Lansdown's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Hargreaves Lansdown's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in GBP | £0.51 |
| LSE:HL. Share Price ** | LSE (2019-04-25) in GBP | £22.25 |
| United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PE Ratio | Median Figure of 45 Publicly-Listed Capital Markets Companies | 19.33x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 797 Publicly-Listed Companies | 16.3x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Hargreaves Lansdown.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:HL. Share Price ÷ EPS (both in GBP) = 22.25 ÷ 0.51 |
43.71x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hargreaves Lansdown is overvalued based on earnings compared to the GB Capital Markets industry average.
- Hargreaves Lansdown is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Hargreaves Lansdown's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 43.71x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
11.2%per year |
| United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PEG Ratio | Median Figure of 22 Publicly-Listed Capital Markets Companies | 1.44x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 566 Publicly-Listed Companies | 1.5x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 43.71x ÷ 11.2% |
3.9x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hargreaves Lansdown is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Hargreaves Lansdown's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in GBP | £0.81 |
| LSE:HL. Share Price * | LSE (2019-04-25) in GBP | £22.25 |
| United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PB Ratio | Median Figure of 80 Publicly-Listed Capital Markets Companies | 1.45x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,367 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:HL. Share Price ÷ Book Value per Share (both in GBP) = 22.25 ÷ 0.81 |
27.44x |
* Primary Listing of Hargreaves Lansdown.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Hargreaves Lansdown is overvalued based on assets compared to the GB Capital Markets industry average.
Value checks
We assess Hargreaves Lansdown's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check) Hargreaves Lansdown 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.
HL. Future Performance
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!
Earnings growth vs Low Risk Savings
- Hargreaves Lansdown's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Hargreaves Lansdown's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
- Hargreaves Lansdown's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:HL. Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | 11.2% |
| LSE:HL. Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 10.1% |
| United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Revenue Growth Rate | Market Cap Weighted Average | 8.7% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | 736 | 496 | 398 | 1 |
| 2022-06-30 | 670 | 453 | 363 | 1 |
| 2021-06-30 | 590 | 351 | 306 | 10 |
| 2020-06-30 | 531 | 313 | 274 | 11 |
| 2019-06-30 | 481 | 277 | 246 | 11 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 468 | 253 | 242 |
| 2018-09-30 | 458 | 249 | 239 |
| 2018-06-30 | 448 | 245 | 236 |
| 2018-03-31 | 432 | 240 | 230 |
| 2017-12-31 | 417 | 234 | 225 |
| 2017-09-30 | 401 | 230 | 218 |
| 2017-06-30 | 386 | 227 | 212 |
| 2017-03-31 | 348 | 211 | 204 |
| 2016-12-31 | 311 | 195 | 196 |
| 2016-09-30 | 319 | 180 | 187 |
| 2016-06-30 | 327 | 165 | 177 |
| 2016-03-31 | 312 | 172 | 170 |
*GAAP earnings excluding extraordinary items.
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 11 Analyst Estimates (S&P Global) | See Below |
All data from Hargreaves Lansdown Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-06-30 | 0.83 | 0.83 | 0.83 | 1.00 |
| 2022-06-30 | 0.76 | 0.76 | 0.76 | 1.00 |
| 2021-06-30 | 0.65 | 0.70 | 0.60 | 9.00 |
| 2020-06-30 | 0.58 | 0.64 | 0.54 | 10.00 |
| 2019-06-30 | 0.52 | 0.53 | 0.50 | 10.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.51 |
| 2018-09-30 | 0.50 |
| 2018-06-30 | 0.50 |
| 2018-03-31 | 0.49 |
| 2017-12-31 | 0.47 |
| 2017-09-30 | 0.46 |
| 2017-06-30 | 0.45 |
| 2017-03-31 | 0.43 |
| 2016-12-31 | 0.41 |
| 2016-09-30 | 0.39 |
| 2016-06-30 | 0.37 |
| 2016-03-31 | 0.36 |
*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.
- Hargreaves Lansdown is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
Future performance checks
We assess Hargreaves Lansdown's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- 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)
- 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)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Hargreaves Lansdown 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.
HL. Past Performance
How has Hargreaves Lansdown 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
Past Earnings growth analysis
- Hargreaves Lansdown's year on year earnings growth rate has been positive over the past 5 years.
- Hargreaves Lansdown's 1-year earnings growth is less than its 5-year average (7.6% vs 10.2%)
- Hargreaves Lansdown's earnings growth has exceeded the GB Capital Markets industry average in the past year (7.6% vs -1.4%).
Earnings and Revenue History
All data from Hargreaves Lansdown Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 467.90 | 241.50 | 18.30 | |
| 2018-09-30 | 457.70 | 238.90 | 18.75 | |
| 2018-06-30 | 447.50 | 236.30 | 19.20 | |
| 2018-03-31 | 432.15 | 230.40 | 18.55 | |
| 2017-12-31 | 416.80 | 224.50 | 17.90 | |
| 2017-09-30 | 401.20 | 218.10 | 17.35 | |
| 2017-06-30 | 385.60 | 211.70 | 16.80 | |
| 2017-03-31 | 348.08 | 203.94 | 18.10 | |
| 2016-12-31 | 310.56 | 196.19 | 19.40 | |
| 2016-09-30 | 318.53 | 186.54 | 16.50 | |
| 2016-06-30 | 326.50 | 176.90 | 13.60 | |
| 2016-03-31 | 312.09 | 170.25 | 6.80 | |
| 2015-12-31 | 297.68 | 163.59 | ||
| 2015-09-30 | 295.94 | 160.13 | ||
| 2015-06-30 | 294.19 | 156.66 | ||
| 2015-03-31 | 345.71 | 159.12 | ||
| 2014-12-31 | 397.23 | 161.58 | ||
| 2014-09-30 | 377.81 | 161.83 | ||
| 2014-06-30 | 358.39 | 162.09 | ||
| 2014-03-31 | 334.45 | 159.97 | -23.49 | |
| 2013-12-31 | 310.50 | 157.85 | -46.99 | |
| 2013-09-30 | 301.45 | 153.12 | -23.49 | |
| 2013-06-30 | 292.40 | 148.39 | ||
| 2013-03-31 | 279.29 | 139.71 | 45.63 | |
| 2012-12-31 | 266.18 | 131.02 | 91.26 | |
| 2012-09-30 | 252.46 | 121.99 | 88.41 | |
| 2012-06-30 | 238.74 | 112.96 | 85.56 |
*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.
- Hargreaves Lansdown made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
- Hargreaves Lansdown used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
- Hargreaves Lansdown's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Hargreaves Lansdown's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Hargreaves Lansdown has a total score of 4/6, 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.
HL. Health
How is Hargreaves Lansdown'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 Hargreaves Lansdown's finances.
The net worth of a company is the difference between its assets and liabilities.
- Hargreaves Lansdown is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Hargreaves Lansdown's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Hargreaves Lansdown has no debt, it does not need to be covered by short term assets.
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.
All data from Hargreaves Lansdown Company Filings, last reported 3 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 385.50 | 0.00 | 322.90 |
| 2018-09-30 | 385.50 | 0.00 | 322.90 |
| 2018-06-30 | 405.20 | 0.00 | 348.80 |
| 2018-03-31 | 405.20 | 0.00 | 348.80 |
| 2017-12-31 | 333.10 | 0.00 | 280.10 |
| 2017-09-30 | 333.10 | 0.00 | 280.10 |
| 2017-06-30 | 307.70 | 0.00 | 265.50 |
| 2017-03-31 | 307.70 | 0.00 | 265.50 |
| 2016-12-31 | 236.44 | 0.00 | 194.56 |
| 2016-09-30 | 236.44 | 0.00 | 194.56 |
| 2016-06-30 | 254.20 | 0.00 | 212.40 |
| 2016-03-31 | 254.20 | 0.00 | 212.40 |
| 2015-12-31 | 214.71 | 0.00 | 182.44 |
| 2015-09-30 | 214.71 | 0.00 | 182.44 |
| 2015-06-30 | 237.07 | 0.00 | 217.66 |
| 2015-03-31 | 237.07 | 0.00 | 217.66 |
| 2014-12-31 | 189.17 | 0.00 | 154.50 |
| 2014-09-30 | 189.17 | 0.00 | 154.50 |
| 2014-06-30 | 228.34 | 0.00 | 202.11 |
| 2014-03-31 | 228.34 | 0.00 | 202.11 |
| 2013-12-31 | 180.35 | 0.00 | 169.72 |
| 2013-09-30 | 180.35 | 0.00 | 169.72 |
| 2013-06-30 | 197.15 | 0.00 | 178.37 |
| 2013-03-31 | 197.15 | 0.00 | 178.37 |
| 2012-12-31 | 146.85 | 0.00 | 149.57 |
| 2012-09-30 | 146.85 | 0.00 | 149.57 |
| 2012-06-30 | 157.42 | 0.00 | 159.95 |
- Hargreaves Lansdown has no debt.
- Hargreaves Lansdown has not taken on any debt in the past 5 years.
- Hargreaves Lansdown has no debt, it does not need to be covered by operating cash flow.
- Hargreaves Lansdown has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess Hargreaves Lansdown's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Hargreaves Lansdown has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
HL. Dividends
What is Hargreaves Lansdown'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
If you bought
£2,000 of
Hargreaves Lansdown
shares you are expected to receive
£29
in your first year as a dividend.
Dividend Amount
- Hargreaves Lansdown's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
- Hargreaves Lansdown's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.1%).
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.
| 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 11 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 38 Stocks | 2.8% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 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 | 2% |
| United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield | 75th Percentile | 5.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in £) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-06-30 | 0.67 | 1.00 |
| 2022-06-30 | 0.61 | 1.00 |
| 2021-06-30 | 0.51 | 11.00 |
| 2020-06-30 | 0.46 | 12.00 |
| 2019-06-30 | 0.41 | 12.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-08-30 | 0.322 | 1.706 |
| 2018-08-07 | 0.322 | 1.502 |
| 2017-08-30 | 0.290 | 1.684 |
| 2017-08-15 | 0.290 | 2.148 |
| 2017-02-08 | 0.348 | 2.586 |
| 2016-09-07 | 0.340 | 2.725 |
| 2016-02-03 | 0.335 | 2.626 |
| 2015-09-09 | 0.330 | 2.422 |
| 2014-09-03 | 0.320 | 2.975 |
| 2014-02-05 | 0.303 | 2.469 |
| 2013-09-04 | 0.296 | 2.483 |
| 2013-02-07 | 0.238 | 2.552 |
| 2012-10-24 | 0.226 | 3.090 |
| 2012-09-05 | 0.226 | 3.384 |
| 2011-09-13 | 0.189 | 3.885 |
| 2011-09-01 | 0.189 | 3.898 |
| 2010-10-27 | 0.119 | 2.131 |
| 2010-09-01 | 0.119 | 2.726 |
| 2009-09-02 | 0.101 | 3.186 |
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.
Income/ dividend checks
We assess Hargreaves Lansdown's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Hargreaves Lansdown afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Hargreaves Lansdown has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
HL. Management
CEO
| COMPENSATION | £2,498,000 |
| AGE | 47 |
| TENURE AS CEO | 2.3 years |
CEO Bio
Mr. Christopher F. Hill, also known as Chris, ACA, has been the Chief Executive of Hargreaves Lansdown plc since April 13, 2017 and served as its Deputy Chief Executive from October 1, 2016 to April 13, 2017 and Chief Financial Officer from February 01, 2016 to September, 2016. Mr. Hill is responsible for driving forward the cultural and risk management aspects of the business. Mr. Hill served as the Chief Financial Officer of IG Group PLC, the listed financial derivatives business. He has considerable strategic, leadership and operational skills and experience from a number of business sectors. He also has extensive finance and accounting experience. Mr. Hill served as the Chief Financial Officer of Access Prepaid Worldwide Limited since 2008. Mr. Hill served as the Chief Financial Officer of IG Group Holdings Plc since April 26, 2011 until October 30, 2015. Mr. Hill served as Chief Financial Officer of Travelex Card Services Limited since 2008. He served as Chief Financial Officer of Travelex Canada Limited and Travelex Group Limited since January 2009. Mr. Hill served as an Acting Chief Financial Officer of Travelex Group Limited from September 2008 to January 2009. Mr. Hill joined Travelex in January 2007 as Group Financial Controller. He joined VWR International in 2005 as Finance Director (UK and Ireland). He served as Head of the Finance Function for VWR Group subsidiary, where Mr. Hill had been responsible for substantially improving working capital and EBITDA performance over his tenure. He served at General Electric from 2000 to 2005, leading a number of financial planning, reporting and treasury functions. He served for Arthur Andersen from 1993 to 2000 in audit and treasury consulting. He has been an Executive Director of Hargreaves Lansdown plc since February 2016. He served as an Executive Director of IG Group Holdings Plc since January 8, 2011 until February 2016. He serves as a Director of IG Securities Limited (IG Markets Securities Limited). He served as a Director of Travelex Canada Limited and Travelex Group. Limited. He is qualified as a chartered accountant at Arthur Andersen and is an associate member of the Association of Corporate Treasurers. He is a member of the 30% Club. He has an MA in Modern History from Oxford University.
CEO Compensation
- Chris's compensation has been consistent with company performance over the past year.
- Chris's remuneration is lower 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 Hargreaves Lansdown management team in years:
- The tenure for the Hargreaves Lansdown management team is about average.
Management Team
Chris Hill
CEO & Executive Director
£2M
47
2.3 yrs
Philip Johnson
CFO & Executive Director
£1M
2.2 yrs
Stephen Lansdown
Co-Founder
66
Lee Gardhouse
Chief Investment Officer
45
3.3 yrs
Mark Dampier
Head of Research
62
David Davies
Chief Information Officer
2.8 yrs
James Found
Head of Investor Relations & Group Financial Controller
Rob Byett
Risk and Compliance Director
44
4.3 yrs
Danny Cox
Head of Communications
4.3 yrs
David James
Marketing Director
0.3 yrs
Board of Directors Tenure
Average tenure and age of the Hargreaves Lansdown board of directors in years:
- The average tenure for the Hargreaves Lansdown board of directors is less than 3 years, this suggests a new board.
Board of Directors
Deanna Oppenheimer
Non-Executive Chairman
£132K
60
1.2 yrs
Chris Hill
CEO & Executive Director
£2M
47
3.2 yrs
Philip Johnson
CFO & Executive Director
£1M
2 yrs
Shirley Garrood
Senior Independent Director
£83K
1.2 yrs
Jayne Styles
Independent Non-Executive Director
£70K
3.5 yrs
Fiona Clutterbuck
Independent Non-Executive Director
£57K
60
1.6 yrs
Roger Perkin
Independent Non-Executive Director
£61K
70
1.6 yrs
Stephen Robertson
Independent Non-Executive Director
£65K
64
7.5 yrs
Who owns this company?
Recent Insider Trading
- Hargreaves Lansdown insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 04. Apr 19 | Sell | David Davies | Individual | 02. Apr 19 | 02. Apr 19 | -1,044 | £19.19 | £-20,026 | ||
| 04. Apr 19 | Buy | David Davies | Individual | 02. Apr 19 | 02. Apr 19 | 1,036 | £19.19 | £19,874 | ||
| 04. Mar 19 | Sell | Mark Dampier | Individual | 04. Mar 19 | 04. Mar 19 | -5,515 | £18.14 | £-100,021 | ||
| 15. Nov 18 | Buy | Lee Gardhouse | Individual | 14. Nov 18 | 14. Nov 18 | 4,895 | £19.20 | £93,984 | ||
| 18. May 18 | Sell | Ian Hunter | Individual | 17. May 18 | 17. May 18 | -410,262 | £19.52 | £-8,008,930 | ||
| 18. May 18 | Sell | Lee Gardhouse | Individual | 17. May 18 | 17. May 18 | -128,066 | £19.52 | £-2,500,040 | ||
| 18. May 18 | Sell | Mark Dampier | Individual | 17. May 18 | 17. May 18 | -102,452 | £19.52 | £-2,000,017 | ||
Management checks
We assess Hargreaves Lansdown's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Hargreaves Lansdown 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.
HL. News
Simply Wall St News
Does Hargreaves Lansdown plc's (LON:HL.) 12% Earnings Growth Make It An Outperformer?
When Hargreaves Lansdown plc's (LON:HL.) announced its latest earnings (30 June 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Hargreaves Lansdown's average earnings over the past couple of years, and its industry performance. … View our latest analysis for Hargreaves Lansdown.
Simply Wall St - – Full articleHargreaves Lansdown plc (LON:HL.): Is It A Smart Long Term Opportunity?
In June 2018, Hargreaves Lansdown plc (LON:HL.) announced its earnings update. … with profits predicted to increase by 16.00% next year … the past 5-year average growth rate of 10.91%
Simply Wall St - – Full articleHow Hargreaves Lansdown plc's (LON:HL.) Earnings Growth Stacks Up Against The Industry
Below, I assess HL.'s latest performance announced on 31 December 2017 and evaluate these figures to its historical trend and industry movements. … View our latest analysis for Hargreaves Lansdown? … HL.'s trailing twelve-month earnings (from 31 December 2017) of UK£224.50m has
Simply Wall St - – Full articleWhy Did Hargreaves Lansdown plc's (LON:HL.) Insiders Sell Their Own Shares?
some insider selling over the past three months, with insiders divesting from. … Generally, insiders selling shares in their own firm sends a bearish signal. … A research published in The MIT Press (1998) concluded that stocks following insider selling fell 2.7% compared to the market
Simply Wall St - – Full articleDoes Hargreaves Lansdown plc's (LON:HL.) Stock Price Account For Its Growth?
Looking at Hargreaves Lansdown plc’s (LON:HL.) fundamentals some investors are wondering if its last closing price of £20.11 represents a good value for money for this high growth stock. … See our latest analysis for Hargreaves Lansdown? … Analysts are predicting good growth prospects for Hargreaves Lansdown over the next couple of years
Simply Wall St - – Full articleWhy Hargreaves Lansdown plc (LON:HL.) Is A Buy When Markets Go Down
High quality companies, such as Hargreaves Lansdown plc, are impacted by general market panic and sell-off, but the fundamentals of these companies stay the same. … View out our latest analysis for Hargreaves Lansdown. … Hargreaves Lansdown plc provides advisory and third party investment services for individuals and corporates in the United Kingdom
Simply Wall St - – Full articleBest-In-Class Growth Stocks
HL.’s projected future profit growth is a robust 13.45%, with an underlying 27.64% growth from its revenues expected over the upcoming years. … GKP’s projected future profit growth is a robust 37.70%, with an underlying 30.64% growth from its revenues expected over the upcoming years. … AIM:FLO Future Profit Jun 2nd 18 For more financially robust companies with high growth potential to enhance your portfolio, explore this interactive list of fast growing companies.
Simply Wall St - – Full articleDoes Hargreaves Lansdown plc's (LON:HL.) PE Ratio Signal A Selling Opportunity?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for HL. … Price per share = £17.23 Earnings per share = £0.473 ∴ Price-Earnings Ratio = £17.23 ÷ £0.473 = 36.4x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … HL.’s P/E of 36.4x is higher than its industry peers (15.3x), which implies that each dollar of HL.’s earnings is being overvalued by investors.
Simply Wall St - – Full articleDid Hargreaves Lansdown plc's (LON:HL.) Recent Earnings Growth Beat The Trend?
For Hargreaves Lansdown, its most recent trailing-twelve-month earnings is UK£224.50M, which, in comparison to the prior year's level, has risen by 14.43%. … Since these figures are relatively short-term, I have determined an annualized five-year value for HL.'s net income, which stands at UK£157.05M This means on average, Hargreaves Lansdown has been able to increasingly raise its net income over the past few years as well. … This shows that any uplift the industry is enjoying, Hargreaves Lansdown has not been able to leverage it as much as its industry peers.What does this mean?
Simply Wall St - – Full articleHargreaves Lansdown plc (LON:HL.): Can Growth Justify Its April Share Price?
Hargreaves Lansdown plc (LSE:HL.) is considered a high-growth stock, but its last closing price of £16.365 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … As Warren Buffett’s right-hand man Charlie Munger said, “No matter how wonderful a business is, it’s not worth an infinite price.” Hargreaves Lansdown is available at price-to-earnings ratio of 34.62x, showing us it is overvalued compared to the GB market average ratio of 16.58x , and overvalued based on current earnings compared to the capital markets industry average of 15.41x. … A PE ratio of 34.62x and expected year-on-year earnings growth of 13.59% give Hargreaves Lansdown a quite high PEG ratio of 2.55x.
Simply Wall St - – Full articleHL. Company Info
Description
Hargreaves Lansdown plc provides direct-to-investor investment services for individuals and corporates in the United Kingdom and Poland. Its flagship service is Vantage, a direct-to-investor platform. The company offers stocks and shares individual savings accounts (ISAs), fund and share accounts, self-invested personal pensions (SIPPs), and lifetime ISAs. It also provides pension services, including SIPPs, annuities, drawdown, and mix and match pensions; share dealing services, such as overseas share dealing, initial public offerings and share offers, certificated share dealing, and exchange traded funds and exchange traded commodities/currencies; and fund dealing services. In addition, the company offers personal and business currency services; Junior ISA, SIPP, and investment accounts; and financial advisory services comprising investment management, lump sum investment, pension consolidation, portfolio restructuring, retirement planning, and estate planning services. Hargreaves Lansdown plc was founded in 1981 and is headquartered in Bristol, the United Kingdom.
Details
| Name: | Hargreaves Lansdown plc |
| HL. | |
| Exchange: | LSE |
| Founded: | 1981 |
| £10,544,496,832 | |
| 473,909,970 | |
| Website: | http://www.hl.co.uk |
| Address: |
Hargreaves Lansdown plc One College Square South, Anchor Road, Bristol, BS1 5HL, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | HL. | Ordinary Shares | London Stock Exchange | GB | GBP | 15. May 2007 | |
| OTCPK | HRGL.F | Ordinary Shares | Pink Sheets LLC | US | USD | 15. May 2007 | |
| DB | DMB | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 15. May 2007 | |
| BATS-CHIXE | HLL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 15. May 2007 | |
| OTCPK | HRGL.Y | ADR | Pink Sheets LLC | US | USD | 06. Sep 2011 |
Number of employees
Current staff
Industry
| Asset Management and Custody Banks | |
| Diversified Financials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/25 21:17 |
| End of day share price update: | 2019/04/25 00:00 |
| Last estimates confirmation: | 2019/04/23 |
| Last earnings filing: | 2019/01/29 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/06/30 |
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.
