LSE:QLT

Stock Analysis Report

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Executive Summary

Quilter plc provides advice-led investment solutions and investment platforms in the United Kingdom and internationally. More Details


Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: QLT has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.4%

QLT

-1.9%

GB Capital Markets

-1.9%

GB Market


1 Year Return

-10.6%

QLT

1.1%

GB Capital Markets

-14.5%

GB Market

Return vs Industry: QLT underperformed the UK Capital Markets industry which returned 1.5% over the past year.

Return vs Market: QLT exceeded the UK Market which returned -14.2% over the past year.


Shareholder returns

QLTIndustryMarket
7 Day-2.4%-1.9%-1.9%
30 Day-4.5%-1.5%-1.7%
90 Day-12.1%-0.9%-4.4%
1 Year-7.1%-10.6%4.5%1.1%-11.3%-14.5%
3 Yearn/a22.9%8.2%-9.0%-20.3%
5 Yearn/a66.3%36.0%15.3%-10.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

43.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: QLT (£1.31) is trading above our estimate of fair value (£1.21)

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


Price To Earnings Ratio

PE vs Industry: QLT is poor value based on its PE Ratio (43.4x) compared to the GB Capital Markets industry average (17x).

PE vs Market: QLT is poor value based on its PE Ratio (43.4x) compared to the UK market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: QLT is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: QLT's PB Ratio (1.2x) is in line with the GB Capital Markets industry average.


Next Steps

Future Growth

How is Quilter forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

42.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QLT's forecast earnings growth (42.5% per year) is above the savings rate (1.2%).

Earnings vs Market: QLT's earnings (42.5% per year) are forecast to grow faster than the UK market (24.2% per year).

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

Revenue vs Market: QLT's revenue (1.8% per year) is forecast to grow slower than the UK market (6% per year).

High Growth Revenue: QLT's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: QLT's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has Quilter performed over the past 5 years?

14.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QLT has a large one-off loss of £69.0M impacting its June 30 2020 financial results.

Growing Profit Margin: QLT's current net profit margins (4.6%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: QLT's earnings have grown by 14.3% per year over the past 5 years.

Accelerating Growth: QLT's earnings growth over the past year (73.4%) exceeds its 5-year average (14.3% per year).

Earnings vs Industry: QLT earnings growth over the past year (73.4%) exceeded the Capital Markets industry 0.9%.


Return on Equity

High ROE: QLT's Return on Equity (2.8%) is considered low.


Next Steps

Financial Health

How is Quilter's financial position?


Financial Position Analysis

Short Term Liabilities: QLT's short term assets (£61.0B) exceed its short term liabilities (£53.6B).

Long Term Liabilities: QLT's short term assets (£61.0B) exceed its long term liabilities (£6.9B).


Debt to Equity History and Analysis

Debt Level: QLT's debt to equity ratio (9.8%) is considered satisfactory.

Reducing Debt: QLT's debt to equity ratio has reduced from 31.6% to 9.8% over the past 5 years.

Debt Coverage: QLT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: QLT's interest payments on its debt are well covered by EBIT (7.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Quilter current dividend yield, its reliability and sustainability?

5.33%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: QLT's dividend (5.33%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).

High Dividend: QLT's dividend (5.33%) is low compared to the top 25% of dividend payers in the UK market (5.36%).


Stability and Growth of Payments

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

Growing Dividend: QLT's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (148.8%), QLT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: QLT's dividends in 3 years are forecast to be covered by earnings (60.7% payout ratio).


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Paul Feeney (56 yo)

8.17yrs

Tenure

UK£1,896,300

Compensation

Mr. Paul William Feeney, Ph.D., has been the Chief Executive Officer at Quilter plc (formerly known as Old Mutual Wealth Management Ltd.) since August 2012 and serves as its Director. Previously, Mr. Feene ...


CEO Compensation Analysis

Compensation vs Market: Paul's total compensation ($USD2.46M) is about average for companies of similar size in the UK market ($USD2.06M).

Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Paul Feeney
CEO & Director8.17yrsUK£1.90m0.037%
£ 854.3k
Mark Satchel
CFO & Director1.58yrsUK£1.15m0.038%
£ 860.9k
Karin Alexandra Cook
Chief Operating Officer1.75yrsno datano data
Leon Deist
Chief Information Officer0.083yrno datano data
John-Paul Crutchley
Head of Investor Relationsno datano datano data
Kevin Lee-Crossett
Chief Legal Officer4.5yrsno datano data
Kathleen Gallagher
Corporate Communications Managerno datano datano data
Michelle Andrews
Chief Marketing Officer0.083yrno datano data
Paul Hucknall
Human Resources Director0.083yrno datano data
Matt Burton
Chief Risk Officer4.5yrsno datano data
Paul Simpson
Chief Executive Officer of Quilter Investorsno datano datano data
Peter Kenny
CEO of Quilter International0.083yrno datano data

1.6yrs

Average Tenure

52.5yo

Average Age

Experienced Management: QLT's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Paul Feeney
CEO & Director8.17yrsUK£1.90m0.037%
£ 854.3k
Mark Satchel
CFO & Director1.58yrsUK£1.15m0.038%
£ 860.9k
Ruth Markland
Senior Independent Director2.33yrsUK£146.50k0.0012%
£ 27.1k
Timothy Breedon
Independent Non Executive Director0.33yrno datano data
Glyn Jones
Independent Non-Executive Chairman3.92yrsUK£375.00k0.046%
£ 1.1m
Rosemary Harris
Independent Non-Executive Director3.5yrsUK£161.00k0.00099%
£ 22.6k
Paul Matthews
Independent Non-Executive Director2.17yrsUK£120.90k0.0017%
£ 39.4k
Moira Kilcoyne
Independent Non-Executive Director3.83yrsUK£100.50k0.0020%
£ 45.3k
George Reid
Independent Non-Executive Director3.67yrsUK£196.80k0.0012%
£ 27.1k

2.9yrs

Average Tenure

61yo

Average Age

Experienced Board: QLT's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: QLT insiders have only sold shares 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

Quilter plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Quilter plc
  • Ticker: QLT
  • Exchange: LSE
  • Founded: 2007
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: UK£2.279b
  • Shares outstanding: 1.73b
  • Website: https://www.quilter.com

Number of Employees


Location

  • Quilter plc
  • Millennium Bridge House
  • 2 Lambeth Hill
  • London
  • Greater London
  • EC4V 4AJ
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
QLTLSE (London Stock Exchange)YesOrdinary SharesGBGBPJun 2018
QLTJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARJun 2018
QLTLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPJun 2018
2FQDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2018
QUIL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2018

Biography

Quilter plc provides advice-led investment solutions and investment platforms in the United Kingdom and internationally. The company operates in two segments, Advice and Wealth Management, and Wealth Platf ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/19 21:17
End of Day Share Price2020/10/19 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.