Record
Record plc, through its subsidiaries, provides currency management services. The last earnings update was 153 days ago. More info.
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REC Share Price and Events
7 Day Returns
1 Year Returns
REC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Record (REC) | 5.7% | 8% | 0.8% | -28.6% | 15.1% | -15.6% |
| 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
- REC underperformed the Capital Markets industry which returned 8.8% over the past year.
- REC underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
REC Value
Is Record undervalued based on future cash flows and its price relative to the stock market?
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
Record
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 Record.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity = £0.15 * 16.7% |
£0.03 |
| Book Value of Equity per Share | Median Book Value from the past 5 years. | £0.15 |
| 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:REC using Excess Returns Model Model
The calculations below outline how an intrinsic value for Record 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)
= (16.7% – 6.69%) * £0.15) |
£0.02 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= £0.02 / (6.69% - 1.23%) |
£0.28 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= £0.15 + £0.28 |
£0.43 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £0.43 |
| Current discount | Discount to share price of
£0.31
= -1 x (£0.31 - £0.43) / £0.43 |
29.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Record's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Record's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Record's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Record'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 (2018-09-30) in GBP | £0.03 |
| LSE:REC Share Price ** | LSE (2019-04-25) in GBP | £0.31 |
| 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 Record.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:REC Share Price ÷ EPS (both in GBP) = 0.31 ÷ 0.03 |
9.8x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Record is good value based on earnings compared to the GB Capital Markets industry average.
- Record is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Record's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 9.8x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
-25.7%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 = 9.8x ÷ -25.7% |
-0.38x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Record earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Record's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in GBP | £0.13 |
| LSE:REC Share Price * | LSE (2019-04-25) in GBP | £0.31 |
| 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:REC Share Price ÷ Book Value per Share (both in GBP) = 0.31 ÷ 0.13 |
2.27x |
* Primary Listing of Record.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Record is overvalued based on assets compared to the GB Capital Markets industry average.
Value checks
We assess Record'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) Record has a total score of 3/6, 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.
REC Future Performance
How is Record expected to perform in the next 1 to 3 years based on estimates from 2 analysts?
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
- Record's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
- Record's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
- Record's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:REC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | -25.7% |
| LSE:REC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | -3.9% |
| 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 (6 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-03-31 | 23 | 1 | ||
| 2020-03-31 | 22 | 4 | 2 | |
| 2019-03-31 | 25 | 6 | 2 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 24 | 2 | 6 |
| 2018-06-30 | 24 | 3 | 6 |
| 2018-03-31 | 24 | 3 | 6 |
| 2017-12-31 | 24 | 5 | 6 |
| 2017-09-30 | 24 | 8 | 7 |
| 2017-06-30 | 24 | 7 | 6 |
| 2017-03-31 | 23 | 7 | 6 |
| 2016-12-31 | 22 | 7 | 6 |
| 2016-09-30 | 21 | 6 | 5 |
| 2016-06-30 | 21 | 6 | 5 |
| 2016-03-31 | 21 | 6 | 6 |
| 2015-12-31 | 21 | 6 | 6 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (6 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Record Company Filings, last reported 6 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 |
|---|---|---|---|---|
| 2021-03-31 | ||||
| 2020-03-31 | 0.02 | 0.02 | 0.02 | 1.00 |
| 2019-03-31 | 0.03 | 0.03 | 0.03 | 1.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.03 |
| 2018-06-30 | 0.03 |
| 2018-03-31 | 0.03 |
| 2017-12-31 | 0.03 |
| 2017-09-30 | 0.03 |
| 2017-06-30 | 0.03 |
| 2017-03-31 | 0.03 |
| 2016-12-31 | 0.03 |
| 2016-09-30 | 0.03 |
| 2016-06-30 | 0.03 |
| 2016-03-31 | 0.03 |
| 2015-12-31 | 0.03 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Record'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)
Record has a total score of 0/6, 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.
REC Past Performance
How has Record 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
- Record's year on year earnings growth rate has been positive over the past 5 years.
- Record's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Record's 1-year earnings growth is negative, it can't be compared to the GB Capital Markets industry average.
Earnings and Revenue History
All data from Record Company Filings, last reported 6 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 |
|---|---|---|---|---|
| 2018-09-30 | 24.26 | 6.12 | 16.49 | |
| 2018-06-30 | 24.04 | 6.13 | 16.41 | |
| 2018-03-31 | 23.83 | 6.15 | 16.33 | |
| 2017-12-31 | 24.13 | 6.41 | 16.05 | |
| 2017-09-30 | 24.42 | 6.68 | 15.98 | |
| 2017-06-30 | 23.69 | 6.50 | 15.40 | |
| 2017-03-31 | 22.95 | 6.32 | 14.82 | |
| 2016-12-31 | 22.22 | 5.89 | 14.30 | |
| 2016-09-30 | 21.49 | 5.45 | 13.79 | |
| 2016-06-30 | 21.31 | 5.50 | 13.83 | |
| 2016-03-31 | 21.13 | 5.54 | 13.88 | |
| 2015-12-31 | 21.26 | 5.80 | 13.80 | |
| 2015-09-30 | 21.38 | 6.06 | 13.72 | |
| 2015-06-30 | 21.22 | 5.92 | 13.43 | |
| 2015-03-31 | 21.06 | 5.78 | 13.14 | |
| 2014-12-31 | 20.58 | 5.64 | 13.03 | |
| 2014-09-30 | 20.11 | 5.49 | 12.91 | |
| 2014-06-30 | 20.02 | 5.45 | 13.05 | |
| 2014-03-31 | 19.92 | 5.41 | 13.18 | |
| 2013-12-31 | 19.82 | 5.14 | 13.13 | |
| 2013-09-30 | 19.71 | 4.87 | 13.07 | |
| 2013-06-30 | 19.13 | 4.60 | 12.62 | |
| 2013-03-31 | 18.55 | 4.33 | 12.17 | |
| 2012-12-31 | 18.32 | 4.27 | 12.13 | |
| 2012-09-30 | 18.08 | 4.20 | 12.10 | |
| 2012-06-30 | 19.31 | 4.56 | 12.76 |
*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.
- Record has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Record used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
- Record has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Record'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)
Record 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.
REC Health
How is Record'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 Record's finances.
The net worth of a company is the difference between its assets and liabilities.
- Record is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Record has no long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Record 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 Record Company Filings, last reported 6 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 26.40 | 0.00 | 22.77 |
| 2018-06-30 | 26.40 | 0.00 | 22.77 |
| 2018-03-31 | 26.55 | 0.00 | 22.76 |
| 2017-12-31 | 26.55 | 0.00 | 22.76 |
| 2017-09-30 | 25.81 | 0.00 | 26.33 |
| 2017-06-30 | 25.81 | 0.00 | 26.33 |
| 2017-03-31 | 36.83 | 0.00 | 37.26 |
| 2016-12-31 | 36.83 | 0.00 | 37.26 |
| 2016-09-30 | 39.28 | 0.00 | 36.18 |
| 2016-06-30 | 39.28 | 0.00 | 36.18 |
| 2016-03-31 | 37.71 | 0.00 | 34.85 |
| 2015-12-31 | 37.71 | 0.00 | 34.85 |
| 2015-09-30 | 36.64 | 0.00 | 33.42 |
| 2015-06-30 | 36.64 | 0.00 | 33.42 |
| 2015-03-31 | 35.80 | 0.00 | 30.72 |
| 2014-12-31 | 35.80 | 0.00 | 30.72 |
| 2014-09-30 | 34.35 | 0.00 | 27.78 |
| 2014-06-30 | 34.35 | 0.00 | 27.78 |
| 2014-03-31 | 32.91 | 0.00 | 27.18 |
| 2013-12-31 | 32.91 | 0.00 | 27.18 |
| 2013-09-30 | 32.77 | 0.00 | 27.69 |
| 2013-06-30 | 32.77 | 0.00 | 27.69 |
| 2013-03-31 | 32.29 | 0.00 | 29.07 |
| 2012-12-31 | 32.29 | 0.00 | 29.07 |
| 2012-09-30 | 29.29 | 0.00 | 25.62 |
| 2012-06-30 | 29.29 | 0.00 | 25.62 |
- Record has no debt.
- Record has not taken on any debt in the past 5 years.
- Record has no debt, it does not need to be covered by operating cash flow.
- Record has no debt, therefore coverage of interest payments is not a concern.
Financial health checks
We assess Record'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) Record 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.
REC Dividends
What is Record'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
Record
shares you are expected to receive
£184
in your first year as a dividend.
Dividend Amount
- Record's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
- Record's dividend is above 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 2 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 |
|---|---|---|
| 2021-03-31 | 0.03 | 1.00 |
| 2020-03-31 | 0.02 | 2.00 |
| 2019-03-31 | 0.03 | 2.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-11-23 | 0.028 | 9.310 |
| 2018-07-26 | 0.028 | 7.565 |
| 2017-06-29 | 0.024 | 5.125 |
| 2017-06-16 | 0.024 | 5.052 |
| 2016-11-18 | 0.017 | 4.237 |
| 2016-06-29 | 0.017 | 6.270 |
| 2016-06-17 | 0.017 | 6.444 |
| 2015-06-29 | 0.018 | 6.201 |
| 2015-06-16 | 0.018 | 4.710 |
| 2014-11-14 | 0.015 | 4.350 |
| 2014-07-24 | 0.015 | 4.565 |
| 2013-11-15 | 0.015 | 4.154 |
| 2013-06-11 | 0.015 | 4.321 |
| 2012-11-16 | 0.000 | 0.000 |
| 2012-06-12 | 0.015 | 8.203 |
| 2012-06-11 | 0.015 | 9.023 |
| 2011-06-14 | 0.046 | 27.080 |
| 2011-06-13 | 0.046 | 16.124 |
| 2010-06-15 | 0.046 | 13.047 |
| 2009-11-17 | 0.046 | 6.804 |
| 2009-06-24 | 0.046 | 5.891 |
| 2009-06-16 | 0.046 | 7.633 |
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 fallen over the past 10 years.
Income/ dividend checks
We assess Record'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 Record afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Record 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.
REC Management
CEO
| COMPENSATION | £695,595 |
| AGE | 46 |
| TENURE AS CEO | 8.5 years |
CEO Bio
Mr. James Wood-Collins has been the Chief Executive Officer of Record Plc since October 1, 2010 and served as its Head of Client. Mr. Wood-collins is also Chief Executive Officer since 2010 and Executive Director at Record Currency Management Limited. Prior to that, he worked at JPMorgan and JPMorgan Cazenove, in London and New York since 1994, advising financial institutions on M&A, IPOs and related corporate finance transactions. Mr. Wood-Collins has been an Executive Director of Record Plc since joining it in 2008. He holds a BA (Hons) in Chemistry from Oxford University.
CEO Compensation
- James's compensation has been consistent with company performance over the past year.
- James's remuneration is higher 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 Record management team in years:
- The average tenure for the Record management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
James Wood-Collins
CEO & Executive Director
£696K
46
8.5 yrs
Steve Cullen
CFO & Executive Director
£235K
50
6.1 yrs
Bob F. A. Noyen
Chief Investment Officer & Executive Director
£656K
56
19.3 yrs
Leslie Meier
Head of Client Team & Executive Director
£723K
63
Joel Sleigh
Chief Operating Officer and Director
48
6.1 yrs
Alex Prisaca
CTO & Director
0.3 yrs
Grady Laurie
Head of Compliance & Risk and Director
49
Kevin Ayles
Head of Human Resources & Director
47
Jim Rockall
Head of Trading & Director
39
Dmitri Tikhonov
Head of Portfolio Management and Director
45
Board of Directors Tenure
Average tenure and age of the Record board of directors in years:
- The tenure for the Record board of directors is about average.
Board of Directors
Neil Record
Chairman
£94K
65
36.3 yrs
James Wood-Collins
CEO & Executive Director
£696K
46
11.3 yrs
Steve Cullen
CFO & Executive Director
£235K
50
6.1 yrs
Bob F. A. Noyen
Chief Investment Officer & Executive Director
£656K
56
Leslie Meier
Head of Client Team & Executive Director
£723K
63
Jane Tufnell
Senior Independent Director
£42K
54
0.5 yrs
Rosemary Hilary
Non-Executive Director
£48K
63
2.8 yrs
Tim Edwards
Independent Non-executive Director
£7K
1.1 yrs
Who owns this company?
Recent Insider Trading
- Record insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14. Mar 19 | Sell | James Wood-Collins | Individual | 13. Mar 19 | 13. Mar 19 | -146,716 | £0.29 | £-42,108 | ||
| 24. Jul 18 | Sell | James Wood-Collins | Individual | 24. Jul 18 | 24. Jul 18 | -250,000 | £0.41 | £-101,750 | ||
Management checks
We assess Record'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) Record 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.
REC News
Simply Wall St News
Read This Before You Buy Record plc (LON:REC) Because Of Its P/E Ratio
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … To keep it practical, we'll show how Record plc's (LON:REC) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleDid You Manage To Avoid Record's (LON:REC) 40% Share Price Drop?
For example, the Record plc (LON:REC) share price is down 40% in the last year. … Longer term investors have fared much better, since the share price is up 12% in three years. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
Simply Wall St - – Full articleIs Record plc (LON:REC) An Attractive Dividend Stock?
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Record plc (LON:REC) has been paying a dividend to shareholders. … Does Record tick all the boxes of a great dividend stock?
Simply Wall St - – Full articleRecord plc (LON:REC) Is Trading At A 4.2% Discount
Capital market firms such as REC are hard to value. … This is because the rules they face are different to other companies, which can impact the way we forecast their cash flow. … Maintaining a certain level of cash capital ratio is common for these financial firms to abide by, in order to minimize risks to their shareholders.
Simply Wall St - – Full articleRecord plc (LON:REC): Does The -8.3% Earnings Drop Reflect A Longer Term Trend?
For investors with a long-term horizon, examining earnings trend over time and against industry peers is more insightful than looking at an earnings announcement in one point in time. … Was REC's recent earnings decline indicative of a tough track record. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 4.1%, indicating the rate at which REC is growing has slowed down
Simply Wall St - – Full articleHave Insiders Been Selling Record plc (LON:REC) Shares This Year?
So before you buy or sell Record plc (LON:REC), you may well want to know whether insiders have been buying or selling. … Record Insider Transactions Over The Last Year. … Although we don't gain confidence from insider selling, we note that this large sale was at well above current price of UK£0.31
Simply Wall St - – Full articleHere's What We Think About Record plc's (LON:REC) CEO Pay
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does James Wood-Collins's Compensation Compare With Similar Sized Companies. … We looked at a group of companies with market capitalizations under UK£159m, and the median CEO compensation was UK£246k.
Simply Wall St - – Full articleRecord plc (LON:REC): 4 Days To Buy Before The Ex-Dividend Date
To qualify for the dividend check of UK£0.011 per share, investors must have owned the shares prior to 06 December 2018, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Record's latest financial data to analyse its dividend characteristics. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?
Simply Wall St - – Full articleDoes Record plc's (LON:REC) P/E Ratio Signal A Buying Opportunity?
We'll show how you can use Record plc's (LON:REC) P/E ratio to inform your assessment of the investment opportunity. … Record has a price to earnings ratio of 9.96, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleDoes Record plc (LON:REC) Have A Place In Your Portfolio?
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Does Record tick all the boxes of a great dividend stock? … 5 checks you should do on a dividend stock
Simply Wall St - – Full articleREC Company Info
Description
Record plc, through its subsidiaries, provides currency management services. The company offers currency hedging, currency for return, and other currency solutions and consulting services. Its clients include pension funds, charities, foundations, endowments, and family offices, as well as other fund managers and corporate clients. The company distributes its products through direct sales, as well as through investment consultants. It has operations in the United Kingdom, the United States, Switzerland, Australia, Canada, Germany, Singapore, the Cayman Islands, Luxembourg, Portugal, the Netherlands, Sweden, Finland, the Channel Islands, and Ireland. Record plc was founded in 1983 and is headquartered in Windsor, the United Kingdom.
Details
| Name: | Record plc |
| REC | |
| Exchange: | LSE |
| Founded: | 1983 |
| £59,864,865 | |
| 196,278,248 | |
| Website: | http://www.recordcm.com |
| Address: |
Record plc Morgan House, Madeira Walk, Windsor, Berkshire, SL4 1EP, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | REC | Ordinary Shares | London Stock Exchange | GB | GBP | 28. Nov 2007 |
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 21:25 |
| End of day share price update: | 2019/04/25 00:00 |
| Last estimates confirmation: | 2019/03/12 |
| Last earnings filing: | 2018/11/23 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2018/03/31 |
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.
