Britvic
Britvic plc, together with its subsidiaries, manufactures, markets, and distributes soft drinks primarily in the United Kingdom, the Republic of Ireland, France, and Brazil. The last earnings update was 72 days ago. More info.
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BVIC Share Price and Events
7 Day Returns
1 Year Returns
BVIC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Britvic (BVIC) | 3.1% | 5.6% | 15.1% | 33.8% | 33.3% | 19% |
| GB Beverage | -0.8% | 8.9% | 9.1% | 19.5% | 67.3% | 59.2% |
| GB Market | -0.3% | 4% | 3.1% | -2.8% | 17.9% | -1.9% |
1 Year Return vs Industry and Market
- BVIC outperformed the Beverage industry which returned 19.5% over the past year.
- BVIC outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -2.8% over the past year.
Value
Is Britvic 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
Britvic
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 Britvic.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 11 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.2% |
| 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 | 8.8% |
| Beverage Unlevered Beta | Simply Wall St/ S&P Global | 0.3 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.297 (1 + (1- 19%) (31.59%)) |
0.373 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.8 * 8.77%) |
8.25% |
Discounted Cash Flow Calculation for LSE:BVIC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Britvic is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (GBP, Millions) | 123.38 | 161.13 | 164.53 | 196.00 | 209.00 |
| Source | Analyst x5 | Analyst x6 | Analyst x4 | Analyst x1 | Analyst x1 |
|
Present Value Discounted (@ 8.25%) |
113.98 | 137.52 | 129.72 | 142.76 | 140.64 |
| Present value of next 5 years cash flows | £664.62 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= £209.00 × (1 + 1.23%) ÷ (8.25% – 1.23%) |
£3,014.43 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= £3,014.43 ÷ (1 + 8.25%)5 |
£2,028.42 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= £664.62 + £2,028.42 |
£2,693.04 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £2,693.04 / 264.44 |
£10.18 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £10.18 |
| Current discount | Discount to share price of
£9.26
= -1 x (£9.26 - £10.18) / £10.18 |
9.1% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Britvic's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Britvic'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 Britvic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Britvic'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 | £0.44 |
| LSE:BVIC Share Price ** | LSE (2019-02-22) in GBP | £9.26 |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry PE Ratio | Median Figure of 8 Publicly-Listed Beverage Companies | 24.48x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 815 Publicly-Listed Companies | 16.03x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Britvic.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:BVIC Share Price ÷ EPS (both in GBP) = 9.26 ÷ 0.44 |
20.84x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Britvic is good value based on earnings compared to the GB Beverage industry average.
- Britvic is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Britvic's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.84x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
10.8%per year |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry PEG Ratio | Median Figure of 7 Publicly-Listed Beverage Companies | 3.93x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 577 Publicly-Listed Companies | 1.3x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 20.84x ÷ 10.8% |
1.93x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Britvic is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Britvic's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in GBP | £1.43 |
| LSE:BVIC Share Price * | LSE (2019-02-22) in GBP | £9.26 |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry PB Ratio | Median Figure of 9 Publicly-Listed Beverage Companies | 4.25x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,361 Publicly-Listed Companies | 1.54x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:BVIC Share Price ÷ Book Value per Share (both in GBP) = 9.26 ÷ 1.43 |
6.47x |
* Primary Listing of Britvic.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Britvic is overvalued based on assets compared to the GB Beverage industry average.
Value checks
We assess Britvic'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 Beverage 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 Beverage industry average (and greater than 0)? (1 check) Britvic has a total score of 1/6, 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.
Future Performance
How is Britvic expected to perform in the next 1 to 3 years based on estimates from 11 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
- Britvic's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Britvic's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
- Britvic's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:BVIC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | 10.8% |
| LSE:BVIC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 2.8% |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry Earnings Growth Rate | Market Cap Weighted Average | 6.3% |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 10.4% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 3.8% |
*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 (4 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-09-30 | 1,738 | 277 | 192 | 1 |
| 2022-09-30 | 1,681 | 263 | 2 | |
| 2021-09-30 | 1,639 | 239 | 169 | 8 |
| 2020-09-30 | 1,608 | 232 | 159 | 10 |
| 2019-09-30 | 1,568 | 189 | 141 | 11 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 1,504 | 207 | 117 |
| 2018-06-30 | 1,483 | 112 | |
| 2018-04-15 | 1,573 | 180 | 106 |
| 2018-01-15 | 1,557 | 189 | 109 |
| 2017-10-01 | 1,431 | 198 | 112 |
| 2017-07-01 | 1,443 | 112 | |
| 2017-04-16 | 1,455 | 179 | 113 |
| 2017-01-16 | 1,443 | 156 | 114 |
| 2016-10-02 | 1,431 | 133 | 115 |
| 2016-07-02 | 1,380 | 145 | 111 |
| 2016-04-10 | 1,328 | 157 | 107 |
| 2016-01-10 | 1,314 | 162 | 105 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
All data from Britvic Company Filings, last reported 4 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 |
|---|---|---|---|---|
| 2023-09-30 | ||||
| 2022-09-30 | ||||
| 2021-09-30 | 0.64 | 0.65 | 0.63 | 4.00 |
| 2020-09-30 | 0.60 | 0.62 | 0.59 | 5.00 |
| 2019-09-30 | 0.51 | 0.53 | 0.46 | 6.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.44 |
| 2018-06-30 | 0.42 |
| 2018-04-15 | 0.40 |
| 2018-01-15 | 0.41 |
| 2017-10-01 | 0.42 |
| 2017-07-01 | 0.43 |
| 2017-04-16 | 0.43 |
| 2017-01-16 | 0.43 |
| 2016-10-02 | 0.44 |
| 2016-07-02 | 0.43 |
| 2016-04-10 | 0.42 |
| 2016-01-10 | 0.42 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Britvic'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)
Britvic has a total score of 3/6, 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.
Past Performance
How has Britvic 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
- Britvic's year on year earnings growth rate has been positive over the past 5 years.
- Britvic's 1-year earnings growth is less than its 5-year average (4.9% vs 9.8%)
- Britvic's earnings growth has not exceeded the GB Beverage industry average in the past year (4.9% vs 5%).
Earnings and Revenue History
All data from Britvic Company Filings, last reported 4 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 | 1,503.60 | 117.10 | 647.00 | |
| 2018-06-30 | 1,483.00 | 111.70 | 645.10 | |
| 2018-04-15 | 1,572.70 | 106.30 | 687.20 | |
| 2018-01-15 | 1,556.75 | 108.95 | 670.35 | |
| 2017-10-01 | 1,430.50 | 111.60 | 609.50 | |
| 2017-07-01 | 1,442.55 | 112.05 | 607.75 | |
| 2017-04-16 | 1,454.60 | 112.50 | 606.00 | |
| 2017-01-16 | 1,442.95 | 113.50 | 600.80 | |
| 2016-10-02 | 1,431.30 | 114.50 | 595.60 | |
| 2016-07-02 | 1,379.55 | 110.50 | 574.45 | |
| 2016-04-10 | 1,327.80 | 106.50 | 553.30 | |
| 2016-01-10 | 1,313.95 | 105.15 | 551.95 | |
| 2015-09-27 | 1,300.10 | 103.80 | 550.60 | |
| 2015-06-27 | 1,312.05 | 101.95 | 559.75 | |
| 2015-04-12 | 1,324.00 | 100.10 | 568.90 | |
| 2015-01-12 | 1,334.20 | 94.90 | 567.85 | |
| 2014-09-28 | 1,344.40 | 89.70 | 566.80 | |
| 2014-06-28 | 1,348.90 | 77.20 | 556.80 | |
| 2014-04-13 | 1,353.40 | 64.70 | 546.80 | |
| 2014-01-13 | 1,337.65 | 63.30 | 539.95 | |
| 2013-09-29 | 1,321.90 | 61.90 | 533.10 | |
| 2013-06-29 | 1,288.20 | 62.65 | 524.95 | |
| 2013-04-14 | 1,254.50 | 63.40 | 516.80 | |
| 2013-01-14 | 1,255.45 | 60.40 | 516.90 | |
| 2012-09-30 | 1,256.40 | 57.40 | 517.00 | |
| 2012-06-30 | 1,277.40 | 59.35 | 521.45 | |
| 2012-04-15 | 1,298.40 | 61.30 | 525.90 |
*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.
- Whilst Britvic has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Britvic used its assets less efficiently than the GB Beverage industry average last year based on Return on Assets.
- Britvic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Britvic'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 Beverage 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)
Britvic has a total score of 1/6, 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.
Health
How is Britvic'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 Britvic's finances.
The net worth of a company is the difference between its assets and liabilities.
- Britvic's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Britvic's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.8x debt.
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 Britvic Company Filings, last reported 4 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 377.30 | 773.20 | 145.80 |
| 2018-06-30 | 377.30 | 773.20 | 145.80 |
| 2018-04-15 | 317.60 | 738.80 | 71.60 |
| 2018-01-15 | 317.60 | 738.80 | 71.60 |
| 2017-10-01 | 339.30 | 677.30 | 96.90 |
| 2017-07-01 | 339.30 | 677.30 | 96.90 |
| 2017-04-16 | 275.30 | 733.00 | 60.20 |
| 2017-01-16 | 275.30 | 733.00 | 60.20 |
| 2016-10-02 | 281.00 | 783.40 | 266.00 |
| 2016-07-02 | 281.00 | 783.40 | 266.00 |
| 2016-04-10 | 220.00 | 616.90 | 117.80 |
| 2016-01-10 | 220.00 | 616.90 | 117.80 |
| 2015-09-27 | 211.80 | 575.90 | 248.70 |
| 2015-06-27 | 211.80 | 575.90 | 248.70 |
| 2015-04-12 | 72.20 | 599.60 | 56.70 |
| 2015-01-12 | 72.20 | 599.60 | 56.70 |
| 2014-09-28 | 83.10 | 572.90 | 144.70 |
| 2014-06-28 | 83.10 | 572.90 | 144.70 |
| 2014-04-13 | 45.30 | 566.30 | 44.80 |
| 2014-01-13 | 45.30 | 566.30 | 44.80 |
| 2013-09-29 | 40.90 | 562.50 | 105.40 |
| 2013-06-29 | 40.90 | 562.50 | 105.40 |
| 2013-04-14 | 0.60 | 607.90 | 22.20 |
| 2013-01-14 | 0.60 | 607.90 | 22.20 |
| 2012-09-30 | 37.10 | 569.70 | 49.50 |
| 2012-06-30 | 37.10 | 569.70 | 49.50 |
| 2012-04-15 | -0.90 | 614.60 | 2.90 |
- Britvic's level of debt (204.9%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (1372.7% vs 204.9% today).
- Debt is well covered by operating cash flow (26.7%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 7.6x coverage).
Financial health checks
We assess Britvic'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) Britvic has a total score of 3/6, 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.
Dividends
What is Britvic'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
Britvic
shares you are expected to receive
£61
in your first year as a dividend.
Dividend Amount
- Britvic's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
- Britvic's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
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 11 Analyst Estimates (S&P Global) | See Below |
| United Kingdom of Great Britain and Northern Ireland Beverage Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 2.1% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 708 Stocks | 4.2% |
| United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| 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 |
|---|---|---|
| 2023-09-30 | 0.37 | 1.00 |
| 2022-09-30 | 0.35 | 2.00 |
| 2021-09-30 | 0.33 | 9.00 |
| 2020-09-30 | 0.31 | 11.00 |
| 2019-09-30 | 0.30 | 11.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-11-29 | 0.282 | 3.299 |
| 2017-12-22 | 0.265 | 3.479 |
| 2017-11-29 | 0.265 | 3.300 |
| 2016-12-23 | 0.245 | 3.561 |
| 2016-01-27 | 0.230 | 3.627 |
| 2014-11-26 | 0.209 | 2.960 |
| 2013-12-23 | 0.184 | 2.611 |
| 2013-11-26 | 0.184 | 2.747 |
| 2013-05-22 | 0.178 | 3.221 |
| 2012-11-27 | 0.177 | 4.137 |
| 2012-11-26 | 0.177 | 4.447 |
| 2011-12-28 | 0.177 | 5.091 |
| 2011-11-30 | 0.177 | 5.621 |
| 2011-01-04 | 0.167 | 4.528 |
| 2010-12-02 | 0.167 | 3.500 |
| 2009-11-25 | 0.150 | 3.303 |
| 2009-02-24 | 0.126 | 4.272 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Britvic's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.6x coverage).
- Dividends after 3 years are expected to be covered by earnings (2x coverage).
Income/ dividend checks
We assess Britvic's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Britvic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Britvic has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | £2,147,400 |
| AGE | 53 |
| TENURE AS CEO | 6 years |
CEO Bio
Mr. Simon Litherland has been the Chief Executive Officer of Britvic Plc since February 13, 2013. Mr. Litherland served as Managing Director of GB at Britvic Soft Drinks Limited since October 4, 2011. He has over 25 years’ experience in finance and leadership roles within the drinks manufacturing and distribution sector. Prior to joining Britvic in 2011, he worked for global drinks manufacturer Diageo plc, spending 20 years running several of its international business units. He served as Managing Director of Great Britain at Diageo plc since July 1, 2009. At Diageo, he held a series of domestic and international roles over 20 years and was responsible for an extensive portfolio of brands including Guinness, Smirnoff, Johnnie Walker, IDV, Grand Metropolitan and Baileys. He served as Managing Director of Brandhouse South Africa, a joint venture between Diageo, Heineken and Namibia Breweries. He served as Managing Director of Great Britain of Diageo Plc since July 1, 2009. He served at Diageo as Finance Director in European operations, before rising to management positions in Eastern Europe, Dublin and South Africa. Mr. Litherland has been a Director of Britvic Plc since February 13, 2013. He has been an Independent Non-Executive Director of Persimmon plc since April 3, 2017. He served as a Director of Namibia Breweries and Rowing BC. Mr. Litherland qualified as a Chartered Accountant with Deloitte in South Africa and holds a business degree from the University of Cape Town.
CEO Compensation
- Simon's compensation has been consistent with company performance over the past year.
- Simon's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure of the Britvic management team in years:
- The tenure for the Britvic management team is about average.
Management Team
Simon Litherland
CEO & Director
£2M
53
6 yrs
Mathew Dunn
CFO & Director
£1M
43
3.3 yrs
Steve Potts
Chief Information
1.1 yrs
Steve Nightingale
Director of Investor Relations
Jonathan Adelman
Acting General Counsel & Company Secretary
1.4 yrs
Matt Barwell
Chief Marketing Officer
Zareena Brown
Chief Human Resources Officer
0.7 yrs
Michael Mountford
Head of Compensation & Benefits
Paul Graham
Managing Director of Great Britain
3.8 yrs
Kevin Donnelly
Managing Director of Ireland
2.8 yrs
Board of Directors Tenure
Average tenure and age of the Britvic board of directors in years:
- The average tenure for the Britvic board of directors is less than 3 years, this suggests a new board.
Board of Directors
John Daly
Non-Executive Chairman
£240K
61
1.4 yrs
Simon Litherland
CEO & Director
£2M
53
6 yrs
Mathew Dunn
CFO & Director
£1M
43
3.3 yrs
Ian McHoul
Senior Independent Director
£74K
58
1.4 yrs
Sue Clark
Independent Non-Executive Director
£65K
54
3 yrs
Euan Sutherland
Independent Non-Executive Director
£56K
49
3 yrs
Suniti Chauhan
Independent Non-Executive Director
£47K
1.3 yrs
William Eccleshare
Independent Non-Executive Director
£47K
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Britvic'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) Britvic 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.
News
Simply Wall St News
Is Britvic plc’s (LON:BVIC) 15% Return On Capital Employed Good News?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.
Simply Wall St - – Full articleHow Do Analysts See Britvic plc (LON:BVIC) Performing In The Next Couple Of Years?
Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … Britvic plc's (LON:BVIC) announced its latest earnings update in September 2018, whicha
Simply Wall St - – Full articleWhy Britvic plc (LON:BVIC) Looks Like A Quality Company
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Britvic has a return on equity of 31% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleEstimating The Intrinsic Value Of Britvic plc (LON:BVIC)
Today, I will calculate the stock's intrinsic value. … by projecting its future cash flows and then discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleWhat Are Analysts Saying About Britvic plc's (LON:BVIC) Growth?
On 30 September 2018, Britvic plc (LON:BVIC) announced its earnings update. … with earnings expected to grow by 20% in the upcoming year … the past 5-year average growth rate of 9.8%.
Simply Wall St - – Full articleBritvic plc (LON:BVIC) Is An Attractive Dividend Stock, Here's Why
There is a lot to be liked about Britvic plc (LON:BVIC) as an income stock. … The company currently pays out a dividend yield of 3.4% to shareholders, making it a relatively attractive dividend stock. … Here's how I find good dividend stocks
Simply Wall St - – Full articleBritvic plc (LON:BVIC) Insiders Increased Their Holdings
So shareholders might well want to know whether insiders have been buying or selling shares in Britvic plc (LON:BVIC). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In total, Britvic insiders bought more than they sold over the last year
Simply Wall St - – Full articleBritvic plc (LON:BVIC): Ex-Dividend Is In 3 Days
Britvic plc (LON:BVIC) will be distributing its dividend of UK£0.20 per share on the 04 February 2019, and will start trading ex-dividend in 3 days time on the 06 December 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Britvic's latest financial data to analyse its dividend characteristics. … 5 questions to ask before buying a dividend stock?
Simply Wall St - – Full articleDoes Britvic plc's (LON:BVIC) CEO Salary Reflect Performance?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Simon Litherland's Compensation Compare With Similar Sized Companies. … According to our data, Britvic plc has a market capitalization of UK£2.2b, and pays its CEO total annual compensation worth UK£2m.
Simply Wall St - – Full articleUnderstanding Your Return On Investment In Britvic plc (LON:BVIC)
and want to better understand how you can grow your money by investing in Britvic plc (LON:BVIC). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Thus, to understand how your money can grow by investing in Britvic, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleCompany Info
Map
Description
Britvic plc, together with its subsidiaries, manufactures, markets, and distributes soft drinks primarily in the United Kingdom, the Republic of Ireland, France, and Brazil. It also provides fruit juices, syrups, liquid concentrates, ready-to-drink nectar drinks, sodas, mixers, energy drinks, and flavored water. The company’s brand portfolio includes 7Up, Aqua Libra, Ballygowan, C&C, Club Mixers, Club Orange, DaFruta, Drench, Energise Sport, Fruit Shoot, Gatorade, J2O, Lipton, Maguary, MiWadi, Mountain Dew, Pepsi Max, Purdey's, R White's, Robinsons, Tango, Teisseire, TK, Fruité, Moulin de Valdonne, and Pressade. In addition, the company supplies water-coolers and bottled water; wholesales soft drinks to the licensed trade; and offers pension funding and financing services. It exports its products to approximately 50 countries. The company was incorporated in 2005 and is headquartered in Hemel Hempstead, the United Kingdom.
Details
| Name: | Britvic plc |
| BVIC | |
| Exchange: | LSE |
| Founded: | 2005 |
| £2,447,419,465 | |
| 264,442,946 | |
| Website: | http://www.britvic.com |
| Address: |
Britvic plc Breakspear Park, Breakspear Way, Hemel Hempstead, Hertfordshire, HP2 4TZ, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | BVIC | Ordinary Shares | London Stock Exchange | GB | GBP | 09. Dec 2005 | |
| OTCPK | BTVC.F | Ordinary Shares | Pink Sheets LLC | US | USD | 09. Dec 2005 | |
| BST | B6S | Ordinary Shares | Boerse-Stuttgart | DE | EUR | 09. Dec 2005 | |
| BATS-CHIXE | BVICL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 09. Dec 2005 | |
| OTCPK | BTVC.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 25. Feb 2010 |
Number of employees
Current staff
Industry
| Soft Drinks | |
| Food, Beverage & Tobacco |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/23 21:04 |
| End of day share price update: | 2019/02/22 00:00 |
| Last estimates confirmation: | 2019/02/12 |
| Last earnings filing: | 2018/12/13 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2018/09/30 |
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.
