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Greencore Group

LSE:GNC
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GNC
LSE
£865M
Market Cap
  1. Home
  2. GB
  3. Food, Beverage & Tobacco
Company description

Greencore Group plc manufactures and sells various convenience food products primarily in the United Kingdom. The last earnings update was 72 days ago. More info.


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GNC Share Price and Events
7 Day Returns
-1%
LSE:GNC
-1.8%
GB Food
-0.4%
GB Market
1 Year Returns
4.8%
LSE:GNC
-8.5%
GB Food
-2.3%
GB Market
GNC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Greencore Group (GNC) -1% 2.1% 1.8% 4.8% -47.8% -19.7%
GB Food -1.8% 3.6% -3.3% -8.5% -19.8% -15.9%
GB Market -0.4% 3.9% 1.5% -2.3% 19% -4%
1 Year Return vs Industry and Market
  • GNC outperformed the Food industry which returned -8.5% over the past year.
  • GNC outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -2.3% over the past year.
Price Volatility
GNC
Industry
5yr Volatility vs Market

Value

 Is Greencore Group 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 Greencore Group 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Greencore Group.

LSE:GNC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:GNC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 8.8%
Food Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.549 (1 + (1- 12.5%) (63.75%))
0.855
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.855 * 8.77%)
8.73%

Discounted Cash Flow Calculation for LSE:GNC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Greencore Group 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.

LSE:GNC DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (GBP, Millions) 53.54 71.04 80.20 90.53 102.20
Source Analyst x3 Analyst x3 Est @ 12.89% Est @ 12.89% Est @ 12.89%
Present Value
Discounted (@ 8.73%)
49.24 60.10 62.40 64.78 67.26
Present value of next 5 years cash flows £303.79
LSE:GNC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= £102.20 × (1 + 1.23%) ÷ (8.73% – 1.23%)
£1,379.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= £1,379.58 ÷ (1 + 8.73%)5
£908.00
LSE:GNC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= £303.79 + £908.00
£1,211.79
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,211.79 / 445.96
£2.72
LSE:GNC Discount to Share Price
Calculation Result
Value per share (GBP) From above. £2.72
Current discount Discount to share price of £1.94
= -1 x (£1.94 - £2.72) / £2.72
28.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Greencore Group is available for.
Intrinsic value
29%
Share price is £1.94 vs Future cash flow value of £2.72
Current Discount Checks
For Greencore Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Greencore Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Greencore Group'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 Greencore Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Greencore Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:GNC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-28) in GBP £0.01
LSE:GNC Share Price ** LSE (2019-02-14) in GBP £1.94
United Kingdom of Great Britain and Northern Ireland Food Industry PE Ratio Median Figure of 20 Publicly-Listed Food Companies 19.08x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 814 Publicly-Listed Companies 15.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Greencore Group.

LSE:GNC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:GNC Share Price ÷ EPS (both in GBP)

= 1.94 ÷ 0.01

137.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Greencore Group is overvalued based on earnings compared to the GB Food industry average.
  • Greencore Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Greencore Group's expected growth come at a high price?
Raw Data
LSE:GNC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 137.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
32.4%per year
United Kingdom of Great Britain and Northern Ireland Food Industry PEG Ratio Median Figure of 18 Publicly-Listed Food Companies 2.05x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 579 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

LSE:GNC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 137.82x ÷ 32.4%

4.25x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Greencore Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Greencore Group's assets?
Raw Data
LSE:GNC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-28) in GBP £1.05
LSE:GNC Share Price * LSE (2019-02-14) in GBP £1.94
United Kingdom of Great Britain and Northern Ireland Food Industry PB Ratio Median Figure of 30 Publicly-Listed Food Companies 1.21x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,361 Publicly-Listed Companies 1.52x
LSE:GNC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:GNC Share Price ÷ Book Value per Share (both in GBP)

= 1.94 ÷ 1.05

1.85x

* Primary Listing of Greencore Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Greencore Group is overvalued based on assets compared to the GB Food industry average.
X
Value checks
We assess Greencore Group's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Greencore Group 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 Greencore Group expected to perform in the next 1 to 3 years based on estimates from 9 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!
Annual Growth Rate
32.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Greencore Group expected to grow at an attractive rate?
  • Greencore Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Greencore Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Greencore Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:GNC Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:GNC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 32.4%
LSE:GNC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 2.8%
United Kingdom of Great Britain and Northern Ireland Food Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
United Kingdom of Great Britain and Northern Ireland Food Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
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 3.7%

*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
Raw Data
LSE:GNC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:GNC Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 1,621 133 86 8
2020-09-30 1,552 124 81 9
2019-09-30 1,499 112 100 9
2018-09-30 2,381 148 56 7
LSE:GNC Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-09-28 1,499 130 10
2018-03-30 2,548 119 4
2017-12-30 2,434 119 8
2017-09-29 1,438 118 16
2017-06-29 2,060 116 25
2017-03-31 1,801 114 38
2016-12-31 1,641 114 43
2016-09-30 1,482 115 47
2016-06-30 1,437 115 50
2016-03-25 1,392 114 53
2015-12-25 1,366 96 55

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Greencore Group's earnings are expected to grow significantly at over 20% yearly.
  • Greencore Group's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:GNC 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 9 Analyst Estimates (S&P Global) See Below

All data from Greencore Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:GNC Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 0.20 0.20 0.19 3.00
2020-09-30 0.18 0.19 0.17 5.00
2019-09-30 0.22 0.28 0.14 3.00
2018-09-30 0.08 0.09 0.07 3.00
LSE:GNC Past Financials Data
Date (Data in GBP Millions) EPS *
2018-09-28 0.01
2018-03-30 0.01
2017-12-30 0.01
2017-09-29 0.02
2017-06-29 0.04
2017-03-31 0.07
2016-12-31 0.07
2016-09-30 0.12
2016-06-30 0.12
2016-03-25 0.13
2015-12-25

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Greencore Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Greencore Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. 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)
  3. 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)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Greencore Group has a total score of 4/6, 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 Greencore Group 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
Below we compare Greencore Group's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Greencore Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Greencore Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Greencore Group's 1-year earnings growth is negative, it can't be compared to the GB Food industry average.
Earnings and Revenue History
Greencore Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Greencore Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:GNC Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-28 1,498.50 9.90 374.30
2018-03-30 2,547.90 3.60 538.90
2017-12-30 2,433.80 7.90 514.05
2017-09-29 1,438.40 15.60 369.20
2017-06-29 2,060.15 25.05 464.50
2017-03-31 1,800.60 37.90 439.80
2016-12-31 1,641.25 42.65 407.15
2016-09-30 1,481.90 47.40 374.50
2016-06-30 1,437.00 49.95 360.90
2016-03-25 1,392.10 52.50 347.30
2015-12-25 1,366.20 55.25 341.70
2015-09-25 1,340.30 58.00 336.10
2015-06-25 1,316.90 59.70 333.60
2015-03-27 1,293.50 61.40 331.10
2014-12-27 1,283.50 54.45 326.00
2014-09-26 1,273.50 47.50 320.90
2014-06-26 1,258.76 53.20 310.52
2014-03-28 1,244.01 58.90 300.13
2013-12-28 1,220.56 63.20 295.12
2013-09-27 1,197.10 67.50 290.10
2013-06-27 1,182.12 53.43 287.53
2013-03-29 1,167.14 39.36 284.95
2012-12-29 1,164.53 37.02 284.06
2012-09-28 1,161.93 34.68 283.18
2012-06-28 1,077.60 34.90 260.34
2012-03-30 993.26 35.13 237.50

*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.
  • Greencore Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Greencore Group used its assets less efficiently than the GB Food industry average last year based on Return on Assets.
  • Greencore Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Greencore Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Greencore Group has a total score of 0/6, 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 Greencore Group'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 Greencore Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Greencore Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Greencore Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Greencore Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.2x 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.
Raw Data

All data from Greencore Group Company Filings, last reported 4 months ago.

LSE:GNC Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-28 743.60 551.50 37.00
2018-03-30 686.10 551.00 20.20
2017-12-30 686.10 551.00 20.20
2017-09-29 710.80 553.20 19.80
2017-06-29 710.80 553.30 19.80
2017-03-31 729.00 592.90 12.70
2016-12-31 729.00 592.90 12.70
2016-09-30 285.60 380.60 25.50
2016-06-30 285.60 380.60 25.50
2016-03-25 310.20 340.50 4.60
2015-12-25 310.20 340.50 4.60
2015-09-25 323.00 295.90 13.50
2015-06-25 323.00 295.90 13.50
2015-03-27 271.00 324.80 13.40
2014-12-27 271.00 324.80 13.40
2014-09-26 283.60 235.90 12.20
2014-06-26 283.60 235.90 12.20
2014-03-28 262.67 281.38 18.79
2013-12-28 262.67 281.38 18.79
2013-09-27 252.00 250.80 7.30
2013-06-27 252.00 250.80 7.30
2013-03-29 196.28 307.77 13.10
2012-12-29 196.28 307.77 13.10
2012-09-28 200.52 297.66 18.76
2012-06-28 200.52 297.66 18.76
2012-03-30 208.11 291.60 16.53
  • Greencore Group's level of debt (74.2%) 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 (99.7% vs 74.2% today).
  • Debt is well covered by operating cash flow (23.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Greencore Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Greencore Group has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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 Greencore Group'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
Dividend payments
2.87%
Current annual income from Greencore Group dividends. Estimated to be 3.39% next year.
If you bought £2,000 of Greencore Group shares you are expected to receive £57 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Greencore Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • Greencore Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.27%).
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.
Raw Data
LSE:GNC Annualized Past and Future Dividends
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 9 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 20 Stocks 2.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 709 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 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:GNC Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.07 8.00
2020-09-30 0.07 10.00
2019-09-30 0.06 9.00
2018-09-30 0.06 8.00
LSE:GNC Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-12-04 0.056 3.020
2018-05-22 0.056 3.022
2017-11-28 0.055 3.112
2016-12-05 0.067 2.946
2016-11-14 0.067 2.243
2015-11-24 0.062 1.801
2014-11-25 0.055 1.754
2013-11-26 0.048 1.896
2013-11-25 0.048 2.632
2013-05-21 0.044 2.938
2012-11-27 0.043 4.087
2012-11-26 0.043 4.690
2012-05-22 0.035 4.341
2011-12-06 0.043 6.938
2011-12-05 0.046 8.565
2010-12-09 0.050 7.557
2010-11-17 0.050 5.505
2009-11-25 0.048 5.877
2009-02-16 0.091 12.441

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Greencore Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Greencore Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Greencore Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Greencore Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Greencore Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Patrick Coveney
COMPENSATION £1,252,000
AGE 48
TENURE AS CEO 10.9 years
CEO Bio

Mr. Patrick F. Coveney, B.Comm, M.Phil, D.Phil, has been the Chief Executive Officer of Greencore Group Plc since March 2008 and serves as its Chairman of the Group Executive Board. Mr. Coveney serves as a Partner of McKinsey and Company. He serves as Location Manager of McKinsey in Dublin. He served as Chief Financial Officer at Greencore Group Plc until March 2008. He is Director of Irish Sailing Foundation Company Limited By Guarantee. He is also Non-Executive Chairman of Core Media Group. He played a central role in the development of Greencore's strategy and business over two years across all business segments and functions and was responsible for the financial planning and management of the business and presided over the significant recent strengthening of its balance sheet and financial position. Prior to Greencore, he served as Managing Partner of McKinsey Ireland. He joined McKinsey in 1996. He served as President of the Dublin Chamber of Commerce in 2012, having been a Council member since 2003. He gained extensive knowledge and experience in Irish, UK and EU consumer food, food service and retail markets and has played a central role in the development and delivery of successful strategies for a number of major clients in these sectors. He has also led significant strategic projects in the financial services sector. He has been a Non-Executive Director of Glanbia plc since May 30, 2014. Mr. Coveney has been an Executive Director of Greencore Group plc since September 5, 2005. Mr. Coveney is a former Rhodes Scholar and holds a D.Phil and M.Phil from Oxford University. He also has a B.Comm (First Class) from University College Cork, where he was overall graduate of the Year in 1992.

CEO Compensation
  • Patrick's compensation has been consistent with company performance over the past year.
  • Patrick'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 Greencore Group management team in years:

1.1
Average Tenure
  • The average tenure for the Greencore Group management team is less than 2 years, this suggests a new team.
Management Team

Patrick Coveney

TITLE
Chairman of the Group Executive Board
COMPENSATION
£1M
AGE
48
TENURE
10.9 yrs

Eoin Tonge

TITLE
CFO, Member of the Group Executive Board & Executive Director
COMPENSATION
£653K
AGE
46
TENURE
2.3 yrs

Kevin Moore

TITLE
Chief Operating Officer

Peter Haden

TITLE
MD, Member of the Group Executive Board & CEO of Greencore UK

Nigel Blakey

TITLE
Finance Director & Member of the Group Executive Board
TENURE
2.3 yrs

Tracy Costello

TITLE
CIO & Member of the Group Executive Board
TENURE
1.1 yrs

Alwen Hill

TITLE
Group Purchasing Director & Member of the Group Executive Board
TENURE
1.1 yrs

Emma Hynes

TITLE
Group Finance Director & Member of the Group Executive Board
TENURE
1.1 yrs

Martin Ford

TITLE
Technical Director
TENURE
0.3 yrs

Jack Gorman

TITLE
Head of Investor Relations
Board of Directors Tenure

Average tenure and age of the Greencore Group board of directors in years:

6
Average Tenure
56
Average Age
  • The tenure for the Greencore Group board of directors is about average.
Board of Directors

Paul Kennedy

TITLE
Chairman
COMPENSATION
£288K
AGE
59
TENURE
6.1 yrs

Patrick Coveney

TITLE
Chairman of the Group Executive Board
COMPENSATION
£1M
AGE
48
TENURE
13.4 yrs

Eoin Tonge

TITLE
CFO, Member of the Group Executive Board & Executive Director
COMPENSATION
£653K
AGE
46
TENURE
2.3 yrs

Heather McSharry

TITLE
Non-Executive Director
COMPENSATION
£80K
AGE
56
TENURE
6.1 yrs

John Warren

TITLE
Non-Executive Director
COMPENSATION
£84K
AGE
65
TENURE
6.1 yrs

John Moloney

TITLE
Non-Executive Director
COMPENSATION
£78K
AGE
64
TENURE
6 yrs

Sly Bailey

TITLE
Senior Independent Director
COMPENSATION
£81K
AGE
56
TENURE
1.2 yrs

Helen Rose

TITLE
Non-Executive Director
COMPENSATION
£33K
AGE
52
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Greencore Group 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 (£)
16. Jan 19 Buy Helen Rose Individual 15. Jan 19 15. Jan 19 25,000 £1.88 £47,038
14. Mar 18 Buy Thomas Sampson Individual 14. Mar 18 14. Mar 18 50,000 £1.29 £64,415
14. Mar 18 Buy Eoin Tonge Individual 14. Mar 18 14. Mar 18 20,383 £1.29 £26,325
14. Mar 18 Buy Patrick Coveney Individual 14. Mar 18 14. Mar 18 68,000 £1.28 £86,700
14. Mar 18 Buy Paul Kennedy Individual 14. Mar 18 14. Mar 18 30,000 £1.21 £36,330
14. Mar 18 Buy Heather McSharry Individual 14. Mar 18 14. Mar 18 20,000 £1.28 £25,500
14. Mar 18 Buy Kevin O'Malley Individual 14. Mar 18 14. Mar 18 10,000 £1.27 £12,667
X
Management checks
We assess Greencore Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Greencore Group 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 Greencore Group plc (LON:GNC) A Financially Sound Company?

Participate in a short research study and receive a 6-month subscription to the award winning Simply Wall St research tool (valued at $60)! … While small-cap stocks, such as Greencore Group plc (LON:GNC) with its market cap of UK£1.4b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Calculating The Intrinsic Value Of Greencore Group plc (LON:GNC)

by estimating the company's future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Is Greencore Group plc's (LON:GNC) 1.7% ROE Worse Than Average?

To keep the lesson grounded in practicality, we'll use ROE to better understand Greencore Group plc (LON:GNC). … That means that for every £1 worth of shareholders' equity, it generated £0.017 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Have Insiders Been Buying Greencore Group plc (LON:GNC) Shares This Year?

So we'll take a look at whether insiders have been buying or selling shares in Greencore Group plc (LON:GNC). … In the last twelve months, the biggest single purchase by an insider was when Chairman of the Group Executive Board Patrick Coveney bought UK£87k worth of shares at a price of UK£1.28 per share. … In total, Greencore Group insiders bought more than they sold over the last year

Simply Wall St -

Is Greencore Group plc (LON:GNC) A Smart Choice For Dividend Investors?

Historically, Greencore Group plc (LON:GNC) has paid dividends to shareholders, and these days it yields 3.0%. … Does Greencore Group tick all the boxes of a great dividend stock? … See our latest analysis for Greencore Group

Simply Wall St -

Our Take On Greencore Group plc's (LON:GNC) CEO Salary

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Patrick Coveney's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Greencore Group plc has a market cap of UK£1.4b, and is paying total annual CEO compensation of UK£1.4m.

Simply Wall St -

What Do You Get For Owning Greencore Group plc (LON:GNC)?

You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Greencore Group’s capital returns we will look at a useful metric called return on capital employed. … This will tell us if the company is growing your capital and placing you in good stead to sell your shares at a profit

Simply Wall St -

With An ROE Of 0.8%, Can Greencore Group plc (LON:GNC) Catch Up To The Industry?

Greencore Group plc (LON:GNC) generated a below-average return on equity of 0.8% in the past 12 months, while its industry returned 9.7%. … Knowing these components can change your views on GNC's below-average returns. … I will take you through how metrics such as financial leverage impact ROE which may affect the overall sustainability of GNC's returns

Simply Wall St -

Should You Be Concerned About Greencore Group plc's (LON:GNC) Investors?

In this article, I'm going to take a look at Greencore Group plc’s (LON:GNC) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Therefore, it is beneficial for us to examine GNC's ownership structure in more detail.

Simply Wall St -

Greencore Group plc (LON:GNC): What Is Driving Margins?

As analysts forecast … Greencore Group plc (LON:GNC) to … earnings growth of 32.22% annualised

Simply Wall St -

Company Info

Map
Description

Greencore Group plc manufactures and sells various convenience food products primarily in the United Kingdom. The company provides sandwiches, sushi, salads, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, frozen Yorkshire puddings, cakes, and desserts. It also trades in Irish ingredients; and invests in properties. The company sells its products through grocery and other retailers, including supermarkets, as well as convenience stores. Greencore Group plc was founded in 1991 and is headquartered in Dublin, Ireland.

Details
Name: Greencore Group plc
GNC
Exchange: LSE
Founded: 1991
£865,154,607
445,955,983
Website: http://www.greencore.com
Address: Greencore Group plc
No. 2 Northwood Avenue,
Northwood Business Park,
Dublin,
Co. Dublin, D09 X5N9,
Ireland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE GNC Ordinary Shares London Stock Exchange GB GBP 22. May 1991
OTCPK GNCG.F Ordinary Shares Pink Sheets LLC US USD 22. May 1991
DB GCG Ordinary Shares Deutsche Boerse AG DE EUR 22. May 1991
BMV GNCG N Ordinary Shares Bolsa Mexicana de Valores MX MXN 22. May 1991
BATS-CHIXE GNCL Ordinary Shares BATS 'Chi-X Europe' GB GBP 22. May 1991
OTCPK GNCG.Y SPONSORED ADR Pink Sheets LLC US USD 17. May 1999
Number of employees
Current staff
Staff numbers
11,300
Greencore Group employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/14 20:36
End of day share price update: 2019/02/14 00:00
Last estimates confirmation: 2019/02/08
Last earnings filing: 2018/12/04
Last earnings reported: 2018/09/28
Last annual earnings reported: 2018/09/28


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.