LSE:PSHD

Stock Analysis Report

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Executive Summary

Pershing Square Holdings, Ltd. is a closed-ended balanced hedge fund launched and managed by Pershing Square Capital Management, L.P. More Details

Rewards


Snowflake Analysis

Share Price & News

How has Pershing Square Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PSHD is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PSHD's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-3.8%

PSHD

-0.9%

GB Capital Markets

-0.8%

GB Market


1 Year Return

92.5%

PSHD

9.6%

GB Capital Markets

-3.7%

GB Market

Return vs Industry: PSHD exceeded the UK Capital Markets industry which returned 8.7% over the past year.

Return vs Market: PSHD exceeded the UK Market which returned -2% over the past year.


Shareholder returns

PSHDIndustryMarket
7 Day-3.8%-0.9%-0.8%
30 Day2.3%3.6%0.9%
90 Day15.8%14.3%6.6%
1 Year95.3%92.5%13.1%9.6%2.1%-3.7%
3 Yearn/a48.7%31.9%9.6%-3.5%
5 Yearn/a117.0%80.6%41.7%14.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Pershing Square Holdings undervalued compared to its fair value and its price relative to the market?

3.87x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PSHD ($36.38) is trading above our estimate of fair value ($22.19)

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


Price To Earnings Ratio

PE vs Industry: PSHD is good value based on its PE Ratio (3.9x) compared to the GB Capital Markets industry average (21.2x).

PE vs Market: PSHD is good value based on its PE Ratio (3.9x) compared to the UK market (23.6x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PSHD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PSHD is good value based on its PB Ratio (1x) compared to the GB Capital Markets industry average (1.6x).

Future Growth

How is Pershing Square Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

23.8%

Forecasted Diversified Financials industry annual growth in earnings


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PSHD's forecast earnings growth is above the savings rate (1%).

Earnings vs Market: Insufficient data to determine if PSHD's earnings are forecast to grow faster than the UK market

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

Revenue vs Market: Insufficient data to determine if PSHD's revenue is forecast to grow faster than the UK market.

High Growth Revenue: Insufficient data to determine if PSHD's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PSHD's Return on Equity is forecast to be low in 3 years time (4.6%).

Past Performance

How has Pershing Square Holdings performed over the past 5 years?

67.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PSHD has high quality earnings.

Growing Profit Margin: PSHD's current net profit margins (78.8%) are lower than last year (91.3%).


Past Earnings Growth Analysis

Earnings Trend: PSHD's earnings have grown significantly by 67.5% per year over the past 5 years.

Accelerating Growth: PSHD's earnings growth over the past year (31.5%) is below its 5-year average (67.5% per year).

Earnings vs Industry: PSHD earnings growth over the past year (31.5%) exceeded the Capital Markets industry -0.9%.


Return on Equity

High ROE: PSHD's Return on Equity (28.3%) is considered high.

Financial Health

How is Pershing Square Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PSHD's short term assets ($8.9B) exceed its short term liabilities ($524.9M).

Long Term Liabilities: PSHD's short term assets ($8.9B) exceed its long term liabilities ($1.6B).


Debt to Equity History and Analysis

Debt Level: PSHD's debt to equity ratio (21.1%) is considered satisfactory.

Reducing Debt: PSHD's debt to equity ratio has increased from 15.2% to 21.1% over the past 5 years.

Debt Coverage: PSHD's debt is well covered by operating cash flow (60.7%).

Interest Coverage: PSHD's interest payments on its debt are well covered by EBIT (26.2x coverage).


Balance Sheet

Dividend

What is Pershing Square Holdings's current dividend yield, its reliability and sustainability?

1.12%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: PSHD's dividend (1.12%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.49%).

High Dividend: PSHD's dividend (1.12%) is low compared to the top 25% of dividend payers in the UK market (4.52%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PSHD has been paying a dividend for less than 10 years.

Growing Dividend: PSHD has only been paying a dividend for 2 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (4.3%), PSHD's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PSHD's dividends in 3 years are forecast to be well covered by earnings (19% payout ratio).

Management

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

8.9yrs

Average board tenure


CEO

Pershing Square Holdings has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Margaret Farlow
Chairpersonno datano data0.0078%
$ 543.0k
Richard Battey
Director8.92yrsno data0.0021%
$ 143.2k
Nicholas Botta
Director8.92yrsno datano data
William Scott
Director8.92yrsno data0.010%
$ 717.3k

8.9yrs

Average Tenure

57.5yo

Average Age

Experienced Board: PSHD's board of directors are considered experienced (8.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pershing Square Holdings, Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pershing Square Holdings, Ltd.
  • Ticker: PSHD
  • Exchange: LSE
  • Founded: 2012
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$6.917b
  • Shares outstanding: 192.95m
  • Website: https://www.pershingsquareholdings.com

Location

  • Pershing Square Holdings, Ltd.
  • 787 Eleventh Avenue
  • 9th Floor
  • New York
  • New York
  • 10019
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PSHENXTAM (Euronext Amsterdam)YesPublic SharesNLUSDOct 2014
7P2DB (Deutsche Boerse AG)YesPublic SharesDEEUROct 2014
PSHLSE (London Stock Exchange)YesPublic SharesGBGBPOct 2014
PSHZ.FOTCPK (Pink Sheets LLC)YesPublic SharesUSUSDOct 2014
PSHABATS-CHIXE (BATS 'Chi-X Europe')YesPublic SharesGBUSDOct 2014
PSHLBATS-CHIXE (BATS 'Chi-X Europe')YesPublic SharesGBGBPOct 2014
PSHDLSE (London Stock Exchange)YesPublic SharesGBUSDOct 2014
7P2BST (Boerse-Stuttgart)YesPublic SharesDEEUROct 2014

Biography

Pershing Square Holdings, Ltd. is a closed-ended balanced hedge fund launched and managed by Pershing Square Capital Management, L.P. It invests in public equity and fixed income markets across the globe. ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/24 19:04
End of Day Share Price2021/02/24 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.