LSE:PLUS

Stock Analysis Report

Executive Summary

Plus500 Ltd. develops and operates an online trading platform for individual customers to trade contracts for difference (CFDs).

Snowflake

Fundamentals

Good value average dividend payer.


Similar Companies

Share Price & News

How has Plus500's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.8%

PLUS

0.2%

GB Diversified Financial

1.7%

GB Market


1 Year Return

-39.4%

PLUS

-43.0%

GB Diversified Financial

2.9%

GB Market

Return vs Industry: PLUS exceeded the UK Diversified Financial industry which returned -43% over the past year.

Return vs Market: PLUS underperformed the UK Market which returned 2.9% over the past year.


Shareholder returns

PLUSIndustryMarket
7 Day0.8%0.2%1.7%
30 Day4.5%2.0%-0.7%
90 Day19.1%6.6%-1.8%
1 Year-33.3%-39.4%-34.1%-43.0%8.0%2.9%
3 Year74.1%16.6%20.3%11.2%18.2%3.8%
5 Year173.2%51.2%69.3%48.9%35.6%6.1%

Price Volatility Vs. Market

How volatile is Plus500's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Plus500 undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PLUS (£7.77) is trading below our estimate of fair value (£25.14)

Significantly Undervalued: PLUS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PLUS is good value based on its PE Ratio (6.7x) compared to the Diversified Financial industry average (14.9x).

PE vs Market: PLUS is good value based on its PE Ratio (6.7x) compared to the UK market (16.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: PLUS is poor value based on its PEG Ratio (4.2x)


Price to Book Ratio

PB vs Industry: PLUS is overvalued based on its PB Ratio (4.4x) compared to the GB Diversified Financial industry average (1.3x).


Next Steps

Future Growth

How is Plus500 forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLUS's forecast earnings growth (1.6% per year) is above the savings rate (1.2%).

Earnings vs Market: PLUS's earnings (1.6% per year) are forecast to grow slower than the UK market (12.9% per year).

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

Revenue vs Market: PLUS's revenue (7.9% per year) is forecast to grow faster than the UK market (3.9% per year).

High Growth Revenue: PLUS's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PLUS's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Plus500 performed over the past 5 years?

30.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PLUS's earnings have grown significantly by 30.2% per year over the past 5 years.

Accelerating Growth: PLUS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PLUS had negative earnings growth (-54.4%) over the past year, making it difficult to compare to the Diversified Financial industry average (3.5%).


Return on Equity

High ROE: PLUS's Return on Equity (66%) is considered outstanding.


Return on Assets

ROA vs Industry: PLUS has a higher Return on Assets than the Diversified Financial industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate PLUS's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Plus500's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PLUS has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if PLUS's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: PLUS's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if PLUS has a sufficient allowance for bad loans.

Low Risk Liabilities: PLUS reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if PLUS has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PLUS has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if PLUS has an appropriate level of bad loans.


Next Steps

Dividend

What is Plus500's current dividend yield, its reliability and sustainability?

19.98%

Current Dividend Yield


Dividend Yield vs Market

company20.0%marketbottom25%2.0%markettop25%5.4%industryaverage3.2%forecastin3Years7.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PLUS's dividend (19.98%) is higher than the bottom 25% of dividend payers in the UK market (1.99%).

High Dividend: PLUS's dividend (19.98%) is in the top 25% of dividend payers in the UK market (5.41%)

Stable Dividend: PLUS has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PLUS's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (60.1%), PLUS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PLUS's dividends in 3 years are forecast to be well covered by earnings (40.5% payout ratio).


Next Steps

Management

What is the CEO of Plus500's salary, the management and board of directors tenure and is there insider trading?

3.5yrs

Average management tenure


CEO

Asaf Elimelech (38yo)

3.4yrs

Tenure

US$6,030,000

Compensation

Mr. Asaf Elimelech has been the Chief Executive Officer of Plus500 Ltd. since May 8, 2016 and its Executive Director of Plus500 Ltd. since February 28, 2016. Mr. Elimelech is a Director of Plus500UK Ltd.  ...


CEO Compensation Analysis

Compensation vs. Market: Asaf's total compensation ($USD6.03M) is about average for companies of similar size in the UK market ($USD1.18M).

Compensation vs Earnings: Asaf's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

3.5yrs

Average Tenure

39.5yo

Average Age

Experienced Management: PLUS's management team is considered experienced (3.5 years average tenure).


Board Age and Tenure

3.7yrs

Average Tenure

50yo

Average Age

Experienced Board: PLUS's board of directors are considered experienced (3.7 years average tenure).


Insider Trading

Insider Buying: PLUS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$1,719,24420 Aug 19
Alon Gonen
EntityIndividual
Role
Other Professional
Senior Strategy Advisor
Shares234,549
Max PriceUS$7.33
BuyUS$3,433,87819 Aug 19
Alon Gonen
EntityIndividual
Role
Other Professional
Senior Strategy Advisor
Shares468,469
Max PriceUS$7.33
BuyUS$98,52015 Aug 19
Michael Fairbairn
EntityIndividual
Role
Lead Director
Senior Independent Non-Executive Director
Shares15,000
Max PriceUS$6.59
BuyUS$015 Aug 19
Alon Gonen
EntityIndividual
Role
Other Professional
Senior Strategy Advisor
Shares987,553
Max PriceUS$7.13

Ownership Breakdown


Management Team

  • Alon Gonen (42yo)

    Senior Strategy Advisor

    • Tenure: 3.6yrs
    • Compensation: US$377.55k
  • Inbal Marom (39yo)

    Vice President of Finance

    • Tenure: 3.6yrs
    • Compensation: US$426.12k
  • Elad Ben-Izhak (45yo)

    Vice President of Marketing

    • Tenure: 0yrs
    • Compensation: US$2.50m
  • Gal Haber (45yo)

    MD & Executive Director

    • Tenure: 6.3yrs
    • Compensation: US$347.00k
  • Omer Elazari (40yo)

    Vice President Research and Development of Server

    • Tenure: 0yrs
    • Compensation: US$377.55k
  • Elad Even-Chen (33yo)

    Group CFO

    • Tenure: 3.3yrs
    • Compensation: US$6.03m
  • Asaf Elimelech (38yo)

    CEO & Executive Director

    • Tenure: 3.4yrs
    • Compensation: US$6.03m
  • Dana Comber (32yo)

    Legal & Company Secretary

    • Tenure: 0yrs
  • Ari Shotland

    Chief Technology Officer

    • Tenure: 1.2yrs

Board Members

  • Michael Fairbairn (57yo)

    Senior Independent Non-Executive Director

    • Tenure: 6.3yrs
    • Compensation: US$121.00k
  • Daniel King (53yo)

    Independent Non Executive Director

    • Tenure: 6.3yrs
    • Compensation: US$73.00k
  • Gal Haber (45yo)

    MD & Executive Director

    • Tenure: 6.3yrs
    • Compensation: US$347.00k
  • Elad Even-Chen (33yo)

    Group CFO

    • Tenure: 3.3yrs
    • Compensation: US$6.03m
  • Steve Baldwin (50yo)

    Independent Non-Executive Director

    • Tenure: 2.3yrs
    • Compensation: US$73.00k
  • Asaf Elimelech (38yo)

    CEO & Executive Director

    • Tenure: 3.4yrs
    • Compensation: US$6.03m
  • Penny Judd (56yo)

    Non-Executive Chairman

    • Tenure: 2.3yrs

Company Information

Plus500 Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Plus500 Ltd.
  • Ticker: PLUS
  • Exchange: LSE
  • Founded: 2008
  • Industry: Specialized Finance
  • Sector: Diversified Financials
  • Market Cap: UK£863.782m
  • Shares outstanding: 111.11m
  • Website: https://www.plus500.com

Number of Employees


Location

  • Plus500 Ltd.
  • Building 25
  • Matam
  • Haifa
  • 3190500
  • Israel

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLUSLSE (London Stock Exchange)YesOrdinary SharesGBGBPJul 2013
PLSQ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2013
P55DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2013
PLUSLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJul 2013

Biography

Plus500 Ltd. develops and operates an online trading platform for individual customers to trade contracts for difference (CFDs). Its online trading platform allows its customers to trade CFDs on approximat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 21:40
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.