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RMII

RM Infrastructure Income LSE:RMII Stock Report

Last Price

UK£0.85

Market Cap

UK£100.2m

7D

-0.9%

1Y

-4.5%

Updated

28 Sep, 2022

Data

Company Financials
RMII fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance2/6
Financial Health4/6
Dividends2/6

RMII Stock Overview

RM Secured Direct Lending plc is a publicly owned investment manager.

RM Infrastructure Income Competitors

Price History & Performance

Summary of all time highs, changes and price drops for RM Infrastructure Income
Historical stock prices
Current Share PriceUK£0.85
52 Week HighUK£0.96
52 Week LowUK£0.84
Beta0.37
1 Month Change-3.68%
3 Month Change-6.34%
1 Year Change-4.49%
3 Year Change-16.26%
5 Year Change-16.87%
Change since IPO-17.07%

Recent News & Updates

Shareholder Returns

RMIIGB Capital MarketsGB Market
7D-0.9%-4.2%-3.5%
1Y-4.5%-20.0%-14.9%

Return vs Industry: RMII exceeded the UK Capital Markets industry which returned -19.3% over the past year.

Return vs Market: RMII exceeded the UK Market which returned -14.5% over the past year.

Price Volatility

Is RMII's price volatile compared to industry and market?
RMII volatility
RMII Average Weekly Movement0.7%
Capital Markets Industry Average Movement4.0%
Market Average Movement5.3%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.7%

Stable Share Price: RMII is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: RMII's weekly volatility (1%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2016n/an/ahttps://rm-funds.co.uk

RM Secured Direct Lending plc is a publicly owned investment manager. The firm invests in markets across the globe. It invests in alternative investments which deliver income returns.

RM Infrastructure Income Fundamentals Summary

How do RM Infrastructure Income's earnings and revenue compare to its market cap?
RMII fundamental statistics
Market CapUK£100.16m
Earnings (TTM)UK£5.80m
Revenue (TTM)UK£9.32m

17.3x

P/E Ratio

10.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RMII income statement (TTM)
RevenueUK£9.32m
Cost of RevenueUK£0
Gross ProfitUK£9.32m
Other ExpensesUK£3.52m
EarningsUK£5.80m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.049
Gross Margin100.00%
Net Profit Margin62.23%
Debt/Equity Ratio16.5%

How did RMII perform over the long term?

See historical performance and comparison

Dividends

7.6%

Current Dividend Yield

132%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is RMII undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RMII?

Other financial metrics that can be useful for relative valuation.

RMII key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue12.6x
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does RMII's PE Ratio compare to its peers?

RMII PE Ratio vs Peers
The above table shows the PE ratio for RMII vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.2x
MANO Manolete Partners
24.9xn/aUK£91.5m
BPM B.P. Marsh & Partners
6.1xn/aUK£105.9m
REC Record
15.1x10.9%UK£130.3m
SBSI Schroder BSC Social Impact Trust
14.8xn/aUK£88.7m
RMII RM Infrastructure Income
17.3xn/aUK£100.2m

Price-To-Earnings vs Peers: RMII is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the peer average (15.2x).


Price to Earnings Ratio vs Industry

How does RMII's PE Ratio compare vs other companies in the GB Capital Markets Industry?

Price-To-Earnings vs Industry: RMII is expensive based on its Price-To-Earnings Ratio (17.3x) compared to the UK Capital Markets industry average (11.3x)


Price to Earnings Ratio vs Fair Ratio

What is RMII's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RMII PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate RMII's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of RMII when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RMII (£0.85) is trading below our estimate of fair value (£1.17)

Significantly Below Fair Value: RMII is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is RM Infrastructure Income forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.8%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as RM Infrastructure Income has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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  • Examine RM Infrastructure Income's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • RM Infrastructure Income competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has RM Infrastructure Income performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


21.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: RMII has high quality earnings.

Growing Profit Margin: RMII's current net profit margins (62.2%) are lower than last year (78.5%).


Past Earnings Growth Analysis

Earnings Trend: RMII's earnings have grown significantly by 21.3% per year over the past 5 years.

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

Earnings vs Industry: RMII had negative earnings growth (-52.6%) over the past year, making it difficult to compare to the Capital Markets industry average (13.9%).


Return on Equity

High ROE: RMII's Return on Equity (5.3%) is considered low.


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Financial Health

How is RM Infrastructure Income's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: RMII's short term assets (£3.9M) do not cover its short term liabilities (£19.9M).

Long Term Liabilities: RMII has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: RMII's net debt to equity ratio (15.9%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if RMII's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: RMII's debt is well covered by operating cash flow (33.1%).

Interest Coverage: RMII's interest payments on its debt are well covered by EBIT (7.8x coverage).


Balance Sheet


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Dividend

What is RM Infrastructure Income current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


7.65%

Current Dividend Yield

Dividend Yield vs Market

RM Infrastructure Income Dividend Yield vs Market
How does RM Infrastructure Income dividend yield compare to the market?
SegmentDividend Yield
Company (RM Infrastructure Income)7.6%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.1%
Industry Average (Capital Markets)3.6%
Analyst forecast in 3 Years (RM Infrastructure Income)n/a

Notable Dividend: RMII's dividend (7.65%) is higher than the bottom 25% of dividend payers in the UK market (2.1%).

High Dividend: RMII's dividend (7.65%) is in the top 25% of dividend payers in the UK market (6.06%)


Stability and Growth of Payments

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

Growing Dividend: RMII's dividend payments have increased, but the company has only paid a dividend for 5 years.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (132.1%), RMII's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (126.9%), RMII's dividend payments are not well covered by cash flows.


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Management

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


CEO

RM Infrastructure Income has no CEO, or we have no data on them.


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.


Ownership Breakdown

What is the ownership structure of RMII?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders69,9820.06%
Public Companies206,5800.2%
Private Companies1,740,2041.5%
General Public7,492,5086.4%
Institutions108,331,71491.9%

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


Top Shareholders

Top 25 shareholders own 88.5% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10.03%
Hawksmoor Investment Management Limited
11,817,638£10.0m21.34%2.84%
9.36%
CCLA Investment Management Limited
11,034,221£9.4m0%0.14%
7.68%
Momentum Global Investment Management Limited
9,052,120£7.7m-6.35%0.5%
6.42%
EFG Private Bank SA, Asset Management Arm
7,565,060£6.4m2.11%0.28%
4.95%
FS Wealth Management Ltd.
5,827,285£5.0m-0.34%34.96%
3.83%
Blankstone Sington Limited, Asset Management Arm
4,512,676£3.8m-1.72%4.4%
3.73%
EdenTree Investment Management Limited
4,400,000£3.7m0%0.29%
3.55%
Premier Fund Managers Limited
4,187,455£3.6m7.72%0.05%
3.4%
Jupiter Fund Management Plc
4,003,845£3.4m0%0.01%
3.08%
Charles Taylor Investment Management Company Limited
3,630,000£3.1m26.4%24.7%
3.06%
Brooks MacDonald Asset Management Limited
3,607,876£3.1m0%0.28%
2.97%
AXA Investment Managers S.A.
3,501,922£3.0m0%0.01%
2.97%
South Yorkshire Pensions Authority (SYPA)
3,500,000£3.0m0%1.66%
2.77%
Gravis Advisory Limited
3,267,216£2.8m0%0.23%
2.66%
CQS Investment Management Limited
3,128,884£2.7m0%0.51%
2.49%
Rm Capital Markets Ltd, Asset Management Arm
2,930,766£2.5m0%2.4%
2.28%
James Brearley & Sons Limited
2,686,605£2.3m9.87%1.23%
2.17%
Close Asset Management Limited
2,560,422£2.2m3.52%0.03%
1.96%
CG Asset Management Limited
2,308,878£2.0m-25.37%0.44%
1.86%
A J Bell Holdings Limited, Asset Management Arm
2,196,952£1.9m6.16%0.03%
1.75%
T. Bailey Asset Management Limited
2,058,608£1.7m0%2.51%
1.75%
Integrated Financial Arrangements plc, Asset Management Arm
2,057,120£1.7m5.11%0.1%
1.58%
GHC Capital Markets Ltd
1,861,848£1.6m14.13%6.18%
1.17%
Miton Capital Partners Limited
1,373,121£1.2m-15.13%0.09%
1.03%
GPIM Limited
1,213,750£1.0m6.88%no data

Company Information

RM Infrastructure Income PLC's employee growth, exchange listings and data sources


Key Information

  • Name: RM Infrastructure Income PLC
  • Ticker: RMII
  • Exchange: LSE
  • Founded: 2016
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: UK£100.165m
  • Shares outstanding: 117.84m
  • Website: https://rm-funds.co.uk

Location

  • RM Infrastructure Income PLC
  • Fourth Floor
  • Seven Castle Street
  • Edinburgh
  • EH2 3AH
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RMIILSE (London Stock Exchange)YesOrdinary SharesGBGBPDec 2016

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.