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REC

RecordLSE:REC Stock Report

Last Price

UK£0.80

Market Cap

UK£152.5m

7D

3.2%

1Y

70.2%

Updated

19 Jan, 2022

Data

Company Financials +
REC fundamental analysis
Snowflake Score
Valuation0/6
Future Growth4/6
Past Performance5/6
Financial Health6/6
Dividends3/6

REC Stock Overview

Record plc, through its subsidiaries, provides currency management services in the United Kingdom, North America, Continental Europe, Australia, and internationally.

Price History & Performance

Summary of all time highs, changes and price drops for Record
Historical stock prices
Current Share PriceUK£0.80
52 Week HighUK£1.08
52 Week LowUK£0.45
Beta1.15
1 Month Change11.36%
3 Month Change2.29%
1 Year Change70.16%
3 Year Change163.61%
5 Year Change111.58%
Change since IPO-51.71%

Recent News & Updates

Dec 23
Do Record's (LON:REC) Earnings Warrant Your Attention?

Do Record's (LON:REC) Earnings Warrant Your Attention?

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Nov 25
Record (LON:REC) Is Paying Out A Larger Dividend Than Last Year

Record (LON:REC) Is Paying Out A Larger Dividend Than Last Year

Record plc's ( LON:REC ) dividend will be increasing on the 30th of December to UK£0.018, with investors receiving 57...

Shareholder Returns

RECGB Capital MarketsGB Market
7D3.2%-1.4%-1.0%
1Y70.2%-3.0%8.3%

Return vs Industry: REC exceeded the UK Capital Markets industry which returned -1.9% over the past year.

Return vs Market: REC exceeded the UK Market which returned 8.3% over the past year.

Price Volatility

Is REC's price volatile compared to industry and market?
REC volatility
REC Average Weekly Movement9.4%
Capital Markets Industry Average Movement4.1%
Market Average Movement5.0%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.5%

Stable Share Price: REC is more volatile than 75% of UK stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: REC's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of UK stocks.

About the Company

FoundedEmployeesCEOWebsite
198390Leslie Meierhttps://www.recordcm.com

Record plc, through its subsidiaries, provides currency management services in the United Kingdom, North America, Continental Europe, Australia, and internationally. It offers advisory and execution services, including FX trade execution, multi-asset implementation, cash management, cash equitisation/bondisation, collateral management, research and advisory, FX transaction cost analysis, ESG framework, regulatory reporting, and concierge services. The company also provides currency solutions, such as active currency risk management, passive currency risk management, tenor management, EM risk management, real rates hedging, volatility neutral hedging, and research and advisory services; and investment solutions comprising currency risk premia/multi-strategy, EM debt, EM growth investment strategy, FX impact, frontier markets, trade finance, research and advisory, and multi-asset implementation services.

Record Fundamentals Summary

How do Record's earnings and revenue compare to its market cap?
REC fundamental statistics
Market CapUK£152.48m
Earnings (TTM)UK£7.20m
Revenue (TTM)UK£29.91m

Earnings & Revenue

Key profitability statistics from the latest earnings report
REC income statement (TTM)
RevenueUK£29.91m
Cost of RevenueUK£392.00k
Gross ProfitUK£29.52m
ExpensesUK£22.32m
EarningsUK£7.20m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Jun 21, 2022

Earnings per share (EPS)0.038
Gross Margin98.69%
Net Profit Margin24.07%
Debt/Equity Ratio0%

How did REC perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

79%

Payout Ratio

Valuation

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

21.19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: REC (£0.8) is trading above our estimate of fair value (£0.67)

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


Price To Earnings Ratio

PE vs Industry: REC is poor value based on its PE Ratio (21.2x) compared to the UK Capital Markets industry average (10.9x).

PE vs Market: REC is poor value based on its PE Ratio (21.2x) compared to the UK market (19.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: REC is overvalued based on its PB Ratio (6x) compared to the GB Capital Markets industry average (1.7x).


Future Growth

How is Record forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

21.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: REC's forecast earnings growth (21.1% per year) is above the savings rate (0.9%).

Earnings vs Market: REC's earnings (21.1% per year) are forecast to grow faster than the UK market (12.1% per year).

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

Revenue vs Market: REC's revenue (12.3% per year) is forecast to grow faster than the UK market (4.8% per year).

High Growth Revenue: REC's revenue (12.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Past Performance

How has Record performed over the past 5 years?

0.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: REC has high quality earnings.

Growing Profit Margin: REC's current net profit margins (24.1%) are higher than last year (23.2%).


Past Earnings Growth Analysis

Earnings Trend: REC's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: REC's earnings growth over the past year (19.4%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: REC earnings growth over the past year (19.4%) underperformed the Capital Markets industry 66.7%.


Return on Equity

High ROE: REC's Return on Equity (28.6%) is considered high.


Financial Health

How is Record's financial position?


Financial Position Analysis

Short Term Liabilities: REC's short term assets (£26.1M) exceed its short term liabilities (£5.7M).

Long Term Liabilities: REC's short term assets (£26.1M) exceed its long term liabilities (£77.0K).


Debt to Equity History and Analysis

Debt Level: REC is debt free.

Reducing Debt: REC has not had any debt for past 5 years.

Debt Coverage: REC has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: REC has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Dividend

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

5.04%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: REC's dividend (5.04%) is higher than the bottom 25% of dividend payers in the UK market (1.41%).

High Dividend: REC's dividend (5.04%) is in the top 25% of dividend payers in the UK market (4.06%)


Stability and Growth of Payments

Stable Dividend: REC's dividend payments have been volatile in the past 10 years.

Growing Dividend: REC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (79%), REC's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: REC's dividends in 3 years are not forecast to be well covered by earnings (99.5% payout ratio).


Next Steps

Management

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

8.8yrs

Average management tenure


CEO

Leslie Meier (66 yo)

1.92yrs

Tenure

UK£1,270,178

Compensation

Ms. Leslie Hill Meier serves as Chief Executive Director at Record plc since February 13, 2020 and served as its Head of Client Team until February 13, 2020. She serves as an Executive Director of Record P...


CEO Compensation Analysis

Compensation vs Market: Leslie's total compensation ($USD1.73M) is above average for companies of similar size in the UK market ($USD570.90K).

Compensation vs Earnings: Leslie's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: REC's management team is seasoned and experienced (8.8 years average tenure).


Board Members

Experienced Board: REC's board of directors are considered experienced (3.8 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

Record plc's employee growth, exchange listings and data sources


Key Information

  • Name: Record plc
  • Ticker: REC
  • Exchange: LSE
  • Founded: 1983
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: UK£152.480m
  • Shares outstanding: 189.65m
  • Website: https://www.recordcm.com

Number of Employees


Location

  • Record plc
  • Morgan House
  • Madeira Walk
  • Windsor
  • Berkshire
  • SL4 1EP
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 21:18
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2021/03/31


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.