Devro
Devro plc, together with its subsidiaries, manufactures and supplies collagen casings in the Americas, Europe, and the Asia-Pacific. The last earnings update was 122 days ago. More info.
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DVO Share Price and Events
7 Day Returns
1 Year Returns
DVO Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Devro (DVO) | 0.5% | -2.8% | 9.3% | 3.7% | -25.9% | -15.6% |
| GB Food | 0.3% | -2.1% | -4.3% | -4.4% | -8.5% | -11% |
| GB Market | -0% | 1.4% | -0.4% | -1.7% | 11.3% | 6.7% |
1 Year Return vs Industry and Market
- DVO outperformed the Food industry which returned -4.4% over the past year.
- DVO outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -1.7% over the past year.
Value
Is Devro 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
Devro
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 Devro.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.8% |
| 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% |
| Food Unlevered Beta | Simply Wall St/ S&P Global | 0.56 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.564 (1 + (1- 19%) (44.28%)) |
0.844 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.84 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.844 * 6.65%) |
6.84% |
Discounted Cash Flow Calculation for LSE:DVO using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Devro is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (GBP, Millions) | Source |
Present Value Discounted (@ 6.84%) |
|
|---|---|---|---|
| 2020 | 38.75 | Analyst x2 | 36.27 |
| 2021 | 42.00 | Analyst x2 | 36.80 |
| 2022 | 44.52 | Est @ 6.01% | 36.51 |
| 2023 | 46.56 | Est @ 4.57% | 35.73 |
| 2024 | 48.22 | Est @ 3.57% | 34.64 |
| 2025 | 49.60 | Est @ 2.87% | 33.35 |
| 2026 | 50.78 | Est @ 2.37% | 31.96 |
| 2027 | 51.81 | Est @ 2.03% | 30.52 |
| 2028 | 52.74 | Est @ 1.79% | 29.08 |
| 2029 | 53.59 | Est @ 1.62% | 27.66 |
| Present value of next 10 years cash flows | £332.52 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= £53.59 × (1 + 1.23%) ÷ (6.84% – 1.23%) |
£966.76 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £966.76 ÷ (1 + 6.84%)10 |
£498.93 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £332.52 + £498.93 |
£831.45 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £831.45 / 166.89 |
£4.98 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £4.98 |
| Current discount | Discount to share price of
£2.05
= -1 x (£2.05 - £4.98) / £4.98 |
58.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Devro's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Devro's share price is below the future cash flow value, and 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 Devro's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Devro'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 (2018-12-31) in GBP | £0.07 |
| LSE:DVO Share Price ** | LSE (2019-07-23) in GBP | £2.05 |
| United Kingdom of Great Britain and Northern Ireland Food Industry PE Ratio | Median Figure of 19 Publicly-Listed Food Companies | 18.46x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 792 Publicly-Listed Companies | 16.27x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Devro.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:DVO Share Price ÷ EPS (both in GBP) = 2.05 ÷ 0.07 |
27.38x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Devro is overvalued based on earnings compared to the GB Food industry average.
- Devro is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Devro's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 27.38x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
23.5%per year |
| United Kingdom of Great Britain and Northern Ireland Food Industry PEG Ratio | Median Figure of 16 Publicly-Listed Food Companies | 1.73x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 571 Publicly-Listed Companies | 1.47x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 27.38x ÷ 23.5% |
1.17x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Devro is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Devro's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in GBP | £0.88 |
| LSE:DVO Share Price * | LSE (2019-07-23) in GBP | £2.05 |
| United Kingdom of Great Britain and Northern Ireland Food Industry PB Ratio | Median Figure of 30 Publicly-Listed Food Companies | 1.15x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,377 Publicly-Listed Companies | 1.51x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:DVO Share Price ÷ Book Value per Share (both in GBP) = 2.05 ÷ 0.88 |
2.34x |
* Primary Listing of Devro.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Devro is overvalued based on assets compared to the GB Food industry average.
Value checks
We assess Devro'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 Food 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 Food industry average (and greater than 0)? (1 check) Devro has a total score of 2/6, 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 Devro expected to perform in the next 1 to 3 years based on estimates from 6 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
- Devro's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Devro's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
- Devro'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:DVO Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 23.5% |
| LSE:DVO Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 2.8% |
| United Kingdom of Great Britain and Northern Ireland Food Industry Earnings Growth Rate | Market Cap Weighted Average | 13.3% |
| United Kingdom of Great Britain and Northern Ireland Food Industry Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 10.9% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 4.7% |
*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 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 275 | 63 | 29 | 5 |
| 2020-12-31 | 269 | 61 | 27 | 6 |
| 2019-12-31 | 260 | 54 | 24 | 5 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 253 | 26 | 13 |
| 2018-09-30 | 253 | 29 | 13 |
| 2018-06-30 | 252 | 32 | 14 |
| 2018-03-31 | 254 | 35 | 15 |
| 2017-12-31 | 257 | 38 | 16 |
| 2017-09-30 | 255 | 35 | 14 |
| 2017-06-30 | 253 | 31 | 13 |
| 2017-03-31 | 247 | 28 | 7 |
| 2016-12-31 | 241 | 26 | 2 |
| 2016-09-30 | 236 | 26 | 4 |
| 2016-06-30 | 230 | 27 | 6 |
| 2016-03-31 | 230 | 27 | 10 |
*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 6 Analyst Estimates (S&P Global) | See Below |
All data from Devro 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 |
|---|---|---|---|---|
| 2021-12-31 | 0.17 | 0.18 | 0.16 | 2.00 |
| 2020-12-31 | 0.16 | 0.17 | 0.15 | 2.00 |
| 2019-12-31 | 0.14 | 0.15 | 0.14 | 2.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.07 |
| 2018-09-30 | 0.08 |
| 2018-06-30 | 0.09 |
| 2018-03-31 | 0.09 |
| 2017-12-31 | 0.09 |
| 2017-09-30 | 0.08 |
| 2017-06-30 | 0.08 |
| 2017-03-31 | 0.04 |
| 2016-12-31 | 0.01 |
| 2016-09-30 | 0.02 |
| 2016-06-30 | 0.04 |
| 2016-03-31 | 0.06 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Devro'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)
Devro 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 Devro 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
- Devro's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Devro's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Devro's 1-year earnings growth is negative, it can't be compared to the GB Food industry average.
Earnings and Revenue History
All data from Devro 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 |
|---|---|---|---|---|
| 2018-12-31 | 253.40 | 12.50 | 44.30 | 6.40 |
| 2018-09-30 | 252.65 | 13.35 | 45.05 | 6.85 |
| 2018-06-30 | 251.90 | 14.20 | 45.80 | 7.30 |
| 2018-03-31 | 254.40 | 14.90 | 45.90 | 7.30 |
| 2017-12-31 | 256.90 | 15.60 | 46.00 | 7.30 |
| 2017-09-30 | 255.15 | 14.15 | 43.60 | 7.25 |
| 2017-06-30 | 253.40 | 12.70 | 41.20 | 7.20 |
| 2017-03-31 | 247.25 | 7.45 | 41.05 | 7.20 |
| 2016-12-31 | 241.10 | 2.20 | 40.90 | 7.20 |
| 2016-09-30 | 235.75 | 4.15 | 39.25 | 6.25 |
| 2016-06-30 | 230.40 | 6.10 | 37.60 | 5.30 |
| 2016-03-31 | 230.30 | 10.35 | 37.60 | 5.30 |
| 2015-12-31 | 230.20 | 14.60 | 37.60 | 5.30 |
| 2015-09-30 | 232.75 | 12.00 | 36.05 | 5.65 |
| 2015-06-30 | 235.30 | 9.40 | 34.50 | 6.00 |
| 2015-03-31 | 233.80 | 6.90 | 34.45 | 6.00 |
| 2014-12-31 | 232.30 | 4.40 | 34.40 | 6.00 |
| 2014-09-30 | 232.90 | 13.35 | 36.80 | 6.30 |
| 2014-06-30 | 233.50 | 22.30 | 39.20 | 6.60 |
| 2014-03-31 | 238.10 | 27.95 | 39.25 | 6.60 |
| 2013-12-31 | 242.70 | 33.60 | 39.30 | 6.60 |
| 2013-09-30 | 243.65 | 31.98 | 37.68 | 6.90 |
| 2013-06-30 | 244.60 | 30.36 | 36.06 | 7.20 |
| 2013-03-31 | 242.85 | 31.18 | 36.03 | 7.20 |
| 2012-12-31 | 241.10 | 32.00 | 36.00 | 7.20 |
| 2012-09-30 | 238.56 | 32.92 | 34.70 | 7.43 |
*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.
- Devro has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Devro used its assets less efficiently than the GB Food industry average last year based on Return on Assets.
- Devro has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Devro'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 Food 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)
Devro 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 Devro'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 Devro's finances.
The net worth of a company is the difference between its assets and liabilities.
- Devro is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Devro'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 0.6x 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 Devro Company Filings, last reported 6 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 146.50 | 151.50 | 9.90 |
| 2018-09-30 | 146.50 | 151.50 | 9.90 |
| 2018-06-30 | 143.60 | 161.60 | 14.30 |
| 2018-03-31 | 143.60 | 161.60 | 14.30 |
| 2017-12-31 | 127.20 | 145.70 | 10.80 |
| 2017-09-30 | 127.20 | 145.70 | 10.80 |
| 2017-06-30 | 119.80 | 163.80 | 11.90 |
| 2017-03-31 | 119.80 | 163.80 | 11.90 |
| 2016-12-31 | 109.00 | 163.50 | 9.90 |
| 2016-09-30 | 109.00 | 163.50 | 9.90 |
| 2016-06-30 | 118.00 | 164.40 | 17.40 |
| 2016-03-31 | 118.00 | 164.40 | 17.40 |
| 2015-12-31 | 131.10 | 135.10 | 12.60 |
| 2015-09-30 | 131.10 | 135.10 | 12.60 |
| 2015-06-30 | 131.20 | 125.20 | 20.50 |
| 2015-03-31 | 131.20 | 125.20 | 20.50 |
| 2014-12-31 | 133.20 | 80.30 | 11.50 |
| 2014-09-30 | 133.20 | 80.30 | 11.50 |
| 2014-06-30 | 141.90 | 74.70 | 20.70 |
| 2014-03-31 | 141.90 | 74.70 | 20.70 |
| 2013-12-31 | 158.00 | 41.80 | 6.00 |
| 2013-09-30 | 158.00 | 41.80 | 6.00 |
| 2013-06-30 | 157.22 | 45.76 | 4.89 |
| 2013-03-31 | 157.22 | 45.76 | 4.89 |
| 2012-12-31 | 146.90 | 31.70 | 5.60 |
| 2012-09-30 | 146.90 | 31.70 | 5.60 |
- Devro's level of debt (103.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (26.7% vs 103.4% today).
- Debt is not well covered by operating cash flow (17.2%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
Financial health checks
We assess Devro'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) Devro has a total score of 2/6, 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 Devro'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
Devro
shares you are expected to receive
£88
in your first year as a dividend.
Dividend Amount
- Devro's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
- Devro's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.43%).
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 6 Analyst Estimates (S&P Global) | See Below |
| United Kingdom of Great Britain and Northern Ireland Food Industry Average Dividend Yield | Market Cap Weighted Average of 19 Stocks | 2.6% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 706 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 | 5.4% |
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 |
|---|---|---|
| 2021-12-31 | 0.11 | 4.00 |
| 2020-12-31 | 0.10 | 6.00 |
| 2019-12-31 | 0.09 | 6.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-25 | 0.090 | 4.434 |
| 2019-02-26 | 0.090 | 4.756 |
| 2018-03-26 | 0.088 | 4.690 |
| 2018-02-27 | 0.088 | 4.385 |
| 2017-03-24 | 0.088 | 4.046 |
| 2017-03-06 | 0.088 | 4.566 |
| 2016-03-30 | 0.088 | 4.016 |
| 2016-03-01 | 0.088 | 2.899 |
| 2015-03-27 | 0.088 | 2.972 |
| 2015-03-03 | 0.088 | 3.084 |
| 2014-07-30 | 0.088 | 3.311 |
| 2014-03-04 | 0.088 | 3.616 |
| 2013-07-31 | 0.086 | 2.755 |
| 2013-02-26 | 0.085 | 2.610 |
| 2012-02-29 | 0.080 | 2.516 |
| 2012-02-21 | 0.080 | 2.603 |
| 2011-03-24 | 0.070 | 2.657 |
| 2011-02-21 | 0.070 | 2.561 |
| 2010-04-01 | 0.050 | 2.313 |
| 2010-02-16 | 0.050 | 2.991 |
| 2009-02-17 | 0.045 | 4.066 |
| 2008-08-28 | 0.045 | 5.641 |
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
Devro's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are not well covered by earnings (0.8x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
Income/ dividend checks
We assess Devro'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 Devro afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Devro has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | £504,000 |
| TENURE AS CEO | 1.4 years |
CEO Bio
Mr. Rutger A. Helbing has been the Chief Executive Officer of Devro plc since February 28, 2018 and as its Executive Director since April 4, 2016. Mr. Helbing served as Group Finance Director of Devro plc from April 4, 2016 to February 28, 2018. Previously, he was Group Chief Financial Officer of Element Six, the global leader in manufacturing synthetic diamond supermaterials. He held senior positions in finance and general management with ICI/Akzo Nobel and Unilever. He is a postgraduate degree in finance from the Free University, Amsterdam, and a degree in economics from Erasmus University.
CEO Compensation
- Rutger's compensation has been consistent with company performance over the past year, both up more than 20%.
- Rutger'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 Devro management team in years:
- The tenure for the Devro management team is about average.
Management Team
Rutger Helbing
CEO & Executive Director
£504K
1.4 yrs
Andrew Money
Group Company Secretary & Group General Counsel
Sarah Voaden
Group Human Resources Director
4.6 yrs
Michael Lauesgaard
Global Business Development Director
3.4 yrs
Beverley Munro
Group Business Excellence Director
Kevin Shoemaker
Group Supply Chain Director
2.8 yrs
G. Stephenson
External & Regulatory Affairs Director
Peter Whitmore
Global Commercial Director
0.7 yrs
Board of Directors Tenure
Average tenure and age of the Devro board of directors in years:
- The average tenure for the Devro board of directors is less than 3 years, this suggests a new board.
Board of Directors
Steve Good
Non-Executive Chairman
58
0.1 yrs
Rutger Helbing
CEO & Executive Director
£504K
3.3 yrs
Paul Withers
Senior Independent Director
£50K
62
2.3 yrs
Jane Lodge
Non-Executive Director
£50K
64
7.3 yrs
Malcolm Swift
Non-Executive Director
£53K
59
2.3 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Devro individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 02. May 19 | Buy | Malcolm Swift | Individual | 01. May 19 | 01. May 19 | 5,000 | £1.99 | £9,950 | ||
| 06. Mar 19 | Buy | Rutger Helbing | Individual | 06. Mar 19 | 06. Mar 19 | 7,500 | £1.85 | £13,875 | ||
| 06. Mar 19 | Buy | Jacqueline Callaway | Individual | 06. Mar 19 | 06. Mar 19 | 5,000 | £1.85 | £9,250 | ||
| 19. Nov 18 | Buy | Jacqueline Callaway | Individual | 19. Nov 18 | 19. Nov 18 | 5,000 | £1.77 | £8,830 | ||
| 19. Nov 18 | Buy | Rutger Helbing | Individual | 19. Nov 18 | 19. Nov 18 | 10,000 | £1.77 | £17,660 | ||
| 16. Nov 18 | Buy | Paul Withers | Individual | 16. Nov 18 | 16. Nov 18 | 30,000 | £1.76 | £52,887 | ||
| 09. Aug 18 | Buy | Rutger Helbing | Individual | 09. Aug 18 | 09. Aug 18 | 15,000 | £1.98 | £29,655 | ||
Management checks
We assess Devro'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) Devro 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
Despite Its High P/E Ratio, Is Devro plc (LON:DVO) Still Undervalued?
Devro has a price to earnings ratio of 28.31, based on the last twelve months. … Check out our latest analysis for Devro How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Devro: P/E of 28.31 = £2.12 ÷ £0.075 (Based on the year to December 2018.) Is A High Price-to-Earnings Ratio Good?
Simply Wall St - – Full articleEvaluating Devro plc’s (LON:DVO) Investments In Its Business
Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Devro: 0.10 = UK£38m ÷ (UK£413m - UK£41m) (Based on the trailing twelve months to December 2018.) Therefore, Devro has an ROCE of 10%. … Devro's Current Liabilities And Their Impact On Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.
Simply Wall St - – Full articleThose Who Purchased Devro (LON:DVO) Shares Five Years Ago Have A 21% Loss To Show For It
During the five years over which the share price declined, Devro's earnings per share (EPS) dropped by 18% each year. … As well as measuring the share price return, investors should also consider the total shareholder return (TSR). … We note that for Devro the TSR over the last 5 years was -3.5%, which is better than the share price return mentioned above.
Simply Wall St - – Full articleDevro plc (LON:DVO): Will The Growth Last?
After Devro plc's (LON:DVO) earnings announcement in December 2018, analysts seem extremely confident, with earnings expected to grow by a high double-digit of 95% in the upcoming year, relative to the past 5-year average growth rate of -13%. … To understand the overall trajectory of DVO's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … LSE:DVO Past and Future Earnings, May 20th 2019 By 2022, DVO's earnings should reach UK£30m, from current levels of UK£13m, resulting in an annual growth rate of 26%.
Simply Wall St - – Full articleHow Does Devro plc (LON:DVO) Fare As A Dividend Stock?
Could Devro plc (LON:DVO) be an attractive dividend share to own for the long haul? … LSE:DVO Historical Dividend Yield, May 10th 2019 Payout ratios Dividends are usually paid out of company earnings. … Devro paid out 107% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow.
Simply Wall St - – Full articleDoes Devro plc (LON:DVO) Have A Particularly Volatile Share Price?
Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.
Simply Wall St - – Full articleHave Insiders Been Buying Devro plc (LON:DVO) Shares?
So we'll take a look at whether insiders have been buying or selling shares in Devro plc (LON:DVO). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Devro Insider Transactions Over The Last Year.
Simply Wall St - – Full articleA Closer Look At Devro plc's (LON:DVO) Uninspiring ROE
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every £1 worth of equity in the company, it was able to earn £0.085. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleAt UK£2.00, Is Devro plc (LON:DVO) Worth Looking At Closely?
As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Today I will analyse the most recent data on Devro’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleWhat Are Analysts Saying About The Future Of Devro plc's (LON:DVO)?
In December 2018, Devro plc (LON:DVO) announced its latest earnings update, whicha … indicated … company
Simply Wall St - – Full articleCompany Info
Description
Devro plc, together with its subsidiaries, manufactures and supplies collagen casings in the Americas, Europe, and the Asia-Pacific. It offers edible and non-edible collagen casings, tubular films, and plastic casings for use in the production of a range of sausages and other meat products. The company sells its products to food manufacturers through agents and distributors. Devro plc was incorporated in 1991 and is based in Chryston, the United Kingdom.
Details
| Name: | Devro plc |
| DVO | |
| Exchange: | LSE |
| Founded: | 1991 |
| £342,132,384 | |
| 166,893,846 | |
| Website: | http://www.devro.com |
| Address: |
Devro plc Moodiesburn, Chryston, Lanarkshire, G69 0JE, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | DVO | Ordinary Shares | London Stock Exchange | GB | GBP | 30. Jun 1993 | |
| OTCPK | DEIT.F | Ordinary Shares | Pink Sheets LLC | US | USD | 30. Jun 1993 | |
| BATS-CHIXE | DVOL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 30. Jun 1993 |
Number of employees
Current staff
Industry
| Packaged Foods and Meats | |
| Food, Beverage & Tobacco |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/23 23:29 |
| End of day share price update: | 2019/07/23 00:00 |
| Last estimates confirmation: | 2019/07/12 |
| Last earnings filing: | 2019/03/23 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
