Tate & Lyle
Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. The last earnings update was 161 days ago. More info.
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TATE Share Price and Events
7 Day Returns
1 Year Returns
TATE Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Tate & Lyle (TATE) | 0.9% | 3.7% | 5.9% | 31.3% | 22.7% | 9.6% |
| GB Food | 0.2% | 6.2% | 6.7% | -3% | -17% | -8.3% |
| GB Market | 1% | 2.3% | 8.6% | 1.6% | 14% | 5.9% |
1 Year Return vs Industry and Market
- TATE outperformed the Food industry which returned -3% over the past year.
- TATE outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
TATE Value
Is Tate & Lyle 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
Tate & Lyle
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 Tate & Lyle.
| 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 | 6.5% |
| 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 | 0.55 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.549 (1 + (1- 19%) (17.69%)) |
0.751 |
| 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 * 6.65%) |
6.55% |
Discounted Cash Flow Calculation for LSE:TATE using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Tate & Lyle 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 (@ 6.55%) |
|
|---|---|---|---|
| 2019 | 190.34 | Analyst x7 | 178.65 |
| 2020 | 206.14 | Analyst x7 | 181.59 |
| 2021 | 210.05 | Analyst x7 | 173.66 |
| 2022 | 250.20 | Analyst x1 | 194.14 |
| 2023 | 266.12 | Est @ 6.36% | 193.81 |
| 2024 | 278.95 | Est @ 4.82% | 190.67 |
| 2025 | 289.40 | Est @ 3.74% | 185.65 |
| 2026 | 298.05 | Est @ 2.99% | 179.45 |
| 2027 | 305.38 | Est @ 2.46% | 172.57 |
| 2028 | 311.76 | Est @ 2.09% | 165.35 |
| Present value of next 10 years cash flows | £1,815.55 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £311.76 × (1 + 1.23%) ÷ (6.55% – 1.23%) |
£5,932.09 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £5,932.09 ÷ (1 + 6.55%)10 |
£3,146.27 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £1,815.55 + £3,146.27 |
£4,961.81 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £4,961.81 / 462.75 |
£10.72 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £10.72 |
| Current discount | Discount to share price of
£7.34
= -1 x (£7.34 - £10.72) / £10.72 |
31.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Tate & Lyle's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Tate & Lyle'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 Tate & Lyle's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Tate & Lyle'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 | £0.48 |
| LSE:TATE Share Price ** | LSE (2019-04-18) in GBP | £7.34 |
| United Kingdom of Great Britain and Northern Ireland Food Industry PE Ratio | Median Figure of 19 Publicly-Listed Food Companies | 19.63x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 795 Publicly-Listed Companies | 16.28x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Tate & Lyle.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:TATE Share Price ÷ EPS (both in GBP) = 7.34 ÷ 0.48 |
15.38x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tate & Lyle is good value based on earnings compared to the GB Food industry average.
- Tate & Lyle is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Tate & Lyle's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 15.38x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
4.2%per year |
| United Kingdom of Great Britain and Northern Ireland Food Industry PEG Ratio | Median Figure of 17 Publicly-Listed Food Companies | 1.91x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 563 Publicly-Listed Companies | 1.49x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 15.38x ÷ 4.2% |
3.68x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tate & Lyle is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Tate & Lyle's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in GBP | £3.07 |
| LSE:TATE Share Price * | LSE (2019-04-18) in GBP | £7.34 |
| 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 1,365 Publicly-Listed Companies | 1.52x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:TATE Share Price ÷ Book Value per Share (both in GBP) = 7.34 ÷ 3.07 |
2.39x |
* Primary Listing of Tate & Lyle.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tate & Lyle is overvalued based on assets compared to the GB Food industry average.
Value checks
We assess Tate & Lyle'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) Tate & Lyle has a total score of 3/6, 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.
TATE Future Performance
How is Tate & Lyle 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!
Earnings growth vs Low Risk Savings
- Tate & Lyle's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Tate & Lyle's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
- Tate & Lyle'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:TATE Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 4.2% |
| LSE:TATE Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 1.3% |
| United Kingdom of Great Britain and Northern Ireland Food Industry Earnings Growth Rate | Market Cap Weighted Average | 9.5% |
| United Kingdom of Great Britain and Northern Ireland Food Industry Revenue Growth Rate | Market Cap Weighted Average | 4.4% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 11.1% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
*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 (6 months ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-03-31 | 2,859 | 1 | ||
| 2022-03-31 | 2,810 | 250 | 2 | |
| 2021-03-31 | 2,879 | 353 | 245 | 9 |
| 2020-03-31 | 2,831 | 349 | 242 | 9 |
| 2019-03-31 | 2,767 | 332 | 222 | 9 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 2,695 | 288 | 220 |
| 2018-06-30 | 2,703 | 287 | 242 |
| 2018-03-31 | 2,710 | 286 | 263 |
| 2017-09-30 | 2,830 | 308 | 250 |
| 2017-06-30 | 2,792 | 303 | 253 |
| 2017-03-31 | 2,753 | 298 | 255 |
| 2016-12-31 | 2,630 | 256 | 219 |
| 2016-09-30 | 2,506 | 214 | 183 |
| 2016-06-30 | 2,431 | 201 | 152 |
| 2016-03-31 | 2,355 | 188 | 121 |
| 2015-12-31 | 2,333 | 208 | 70 |
*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 9 Analyst Estimates (S&P Global) | See Below |
All data from Tate & Lyle 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 |
|---|---|---|---|---|
| 2023-03-31 | ||||
| 2022-03-31 | 0.53 | 0.53 | 0.53 | 1.00 |
| 2021-03-31 | 0.52 | 0.53 | 0.50 | 5.00 |
| 2020-03-31 | 0.51 | 0.54 | 0.50 | 5.00 |
| 2019-03-31 | 0.46 | 0.55 | 0.39 | 5.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.48 |
| 2018-06-30 | 0.52 |
| 2018-03-31 | 0.57 |
| 2017-09-30 | 0.54 |
| 2017-06-30 | 0.54 |
| 2017-03-31 | 0.55 |
| 2016-12-31 | 0.47 |
| 2016-09-30 | 0.39 |
| 2016-06-30 | 0.33 |
| 2016-03-31 | 0.26 |
| 2015-12-31 | 0.15 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Tate & Lyle'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)
Tate & Lyle has a total score of 1/6, 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.
TATE Past Performance
How has Tate & Lyle 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
- Tate & Lyle's year on year earnings growth rate has been positive over the past 5 years.
- Tate & Lyle's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Tate & Lyle'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 Tate & Lyle 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 |
|---|---|---|---|---|
| 2018-09-30 | 2,695.00 | 220.00 | 226.00 | 35.00 |
| 2018-06-30 | 2,702.50 | 241.50 | 226.00 | 35.00 |
| 2018-03-31 | 2,710.00 | 263.00 | 226.00 | 35.00 |
| 2017-09-30 | 2,830.00 | 250.00 | 219.00 | 37.00 |
| 2017-06-30 | 2,791.50 | 252.50 | 219.00 | 37.00 |
| 2017-03-31 | 2,753.00 | 255.00 | 219.00 | 37.00 |
| 2016-12-31 | 2,629.50 | 219.00 | 190.00 | 33.00 |
| 2016-09-30 | 2,506.00 | 183.00 | 161.00 | 29.00 |
| 2016-06-30 | 2,430.50 | 152.00 | 161.00 | 29.00 |
| 2016-03-31 | 2,355.00 | 121.00 | 161.00 | 29.00 |
| 2015-12-31 | 2,333.00 | 70.00 | 140.00 | 30.50 |
| 2015-09-30 | 2,311.00 | 19.00 | 119.00 | 32.00 |
| 2015-06-30 | 2,326.00 | 11.50 | 121.00 | 32.00 |
| 2015-03-31 | 2,341.00 | 4.00 | 123.00 | 32.00 |
| 2014-09-30 | 2,438.00 | 167.00 | 135.00 | 33.00 |
| 2014-06-30 | 2,596.00 | 206.00 | 135.00 | 33.00 |
| 2014-03-31 | 2,754.00 | 245.00 | 135.00 | 33.00 |
| 2013-09-30 | 3,141.00 | 245.00 | 157.00 | 32.00 |
| 2013-06-30 | 3,198.50 | 249.50 | 156.00 | 32.00 |
| 2013-03-31 | 3,256.00 | 254.00 | 155.00 | 32.00 |
| 2012-12-31 | 3,217.50 | 257.00 | 350.00 | 30.50 |
| 2012-09-30 | 3,179.00 | 260.00 | 545.00 | 29.00 |
| 2012-06-30 | 3,133.50 | 281.50 | 542.50 | 29.00 |
*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.
- Tate & Lyle has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Tate & Lyle used its assets more efficiently than the GB Food industry average last year based on Return on Assets.
- Tate & Lyle's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Tate & Lyle'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)
Tate & Lyle has a total score of 2/6, 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.
TATE Health
How is Tate & Lyle'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 Tate & Lyle's finances.
The net worth of a company is the difference between its assets and liabilities.
- Tate & Lyle is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Tate & Lyle's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.8x 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 Tate & Lyle Company Filings, last reported 6 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 1,412.00 | 601.00 | 284.00 |
| 2018-06-30 | 1,412.00 | 601.00 | 284.00 |
| 2018-03-31 | 1,367.00 | 570.00 | 214.00 |
| 2017-09-30 | 1,294.00 | 602.00 | 243.00 |
| 2017-06-30 | 1,294.00 | 602.00 | 243.00 |
| 2017-03-31 | 1,332.00 | 692.00 | 289.00 |
| 2016-12-31 | 1,332.00 | 692.00 | 289.00 |
| 2016-09-30 | 1,119.00 | 699.00 | 293.00 |
| 2016-06-30 | 1,119.00 | 699.00 | 293.00 |
| 2016-03-31 | 1,029.00 | 756.00 | 364.00 |
| 2015-12-31 | 1,029.00 | 756.00 | 364.00 |
| 2015-09-30 | 903.00 | 779.00 | 240.00 |
| 2015-06-30 | 903.00 | 779.00 | 240.00 |
| 2015-03-31 | 936.00 | 768.00 | 272.00 |
| 2014-09-30 | 1,045.00 | 796.00 | 325.00 |
| 2014-06-30 | 1,045.00 | 796.00 | 325.00 |
| 2014-03-31 | 1,050.00 | 765.00 | 412.00 |
| 2013-09-30 | 987.00 | 821.00 | 449.00 |
| 2013-06-30 | 987.00 | 821.00 | 449.00 |
| 2013-03-31 | 1,036.00 | 906.00 | 456.00 |
| 2012-12-31 | 1,036.00 | 906.00 | 456.00 |
| 2012-09-30 | 977.00 | 860.00 | 419.00 |
| 2012-06-30 | 977.00 | 860.00 | 419.00 |
- Tate & Lyle's level of debt (42.6%) 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 (83.1% vs 42.6% today).
- Debt is well covered by operating cash flow (47.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 12.7x coverage).
Financial health checks
We assess Tate & Lyle'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) Tate & Lyle has a total score of 5/6, 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.
TATE Dividends
What is Tate & Lyle'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
Tate & Lyle
shares you are expected to receive
£79
in your first year as a dividend.
Dividend Amount
- Tate & Lyle's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
- Tate & Lyle's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.12%).
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 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 | 2.4% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 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 | 5.1% |
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 |
|---|---|---|
| 2023-03-31 | 0.35 | 1.00 |
| 2022-03-31 | 0.33 | 2.00 |
| 2021-03-31 | 0.32 | 11.00 |
| 2020-03-31 | 0.31 | 11.00 |
| 2019-03-31 | 0.30 | 11.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-11-08 | 0.289 | 4.144 |
| 2018-06-21 | 0.287 | 4.408 |
| 2018-05-24 | 0.287 | 4.327 |
| 2017-11-02 | 0.282 | 4.577 |
| 2017-05-25 | 0.280 | 4.137 |
| 2016-11-03 | 0.280 | 3.867 |
| 2016-06-20 | 0.280 | 3.863 |
| 2016-05-26 | 0.280 | 4.463 |
| 2015-07-30 | 0.280 | 4.839 |
| 2014-11-06 | 0.280 | 4.747 |
| 2014-05-29 | 0.276 | 4.245 |
| 2014-05-28 | 0.276 | 4.013 |
| 2013-06-21 | 0.262 | 3.494 |
| 2013-05-30 | 0.262 | 3.210 |
| 2012-11-08 | 0.252 | 3.118 |
| 2012-07-09 | 0.249 | 3.696 |
| 2012-05-31 | 0.249 | 3.852 |
| 2011-05-27 | 0.237 | 3.623 |
| 2010-05-27 | 0.229 | 4.479 |
| 2010-03-31 | 0.229 | 5.141 |
| 2009-05-28 | 0.229 | 5.817 |
| 2009-04-20 | 0.226 | 8.098 |
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
Tate & Lyle's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.7x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
Income/ dividend checks
We assess Tate & Lyle'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 Tate & Lyle afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Tate & Lyle 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.
TATE Management
CEO
| COMPENSATION | £2,776,000 |
| AGE | 51 |
| TENURE AS CEO | 1 years |
CEO Bio
Mr. Nick Hampton, MA (Hons) has been the Chief Executive of Tate & Lyle plc since April 1, 2018 and has been its Director since September 2014. He joined Tate & Lyle plc group in September 2014. Mr. Hampton joined Tate & Lyle from PepsiCo where he served as President of West Europe Region and Senior Vice President Commercial Europe since 2013. He was the Chief Financial Officer of Tate & Lyle plc since September 2014 until April 1, 2018. Prior to that, during a twenty year career at PepsiCo, he held a number of financial, commercial and operational roles. He has a wealth of experience in the food and beverage industry. His skills include: Global Corporate and Finance. Mr. Hampton has been a Non-Executive Director at Great Portland Estates plc since October 17, 2016. He served as PepsiCo’s CFO of Europe. He holds a Master’s Degree in Chemistry from York St John University. Skills and expertise: His general management, financial and operational experience in senior management roles in a major multinational food and beverage business combined with his experience in leading transformational projects provides him with the skillset required to inspire and lead the Group. Previous roles: Held a number of senior roles over a 20-year career at PepsiCo, included Senior Vice President.
CEO Compensation
- Nick's compensation has been consistent with company performance over the past year.
- Nick's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure of the Tate & Lyle management team in years:
- The average tenure for the Tate & Lyle management team is less than 2 years, this suggests a new team.
Management Team
Nick Hampton
Chief Executive & Executive Director
£3M
51
1 yrs
Imran Nawaz
CFO & Director
0.7 yrs
Melissa Law
President of Global Operations
Chris Marsh
Group Vice President of Investor & Media Relations
Mathew Wootton
Vice President of Corporate & Business Development
Laura Hagan
Chief Human Resource Officer
0.6 yrs
Rowan Adams
Executive Vice President of Corporate Affairs
4.4 yrs
Joan Braca
President of Food & Beverage Solutions
46
4.4 yrs
Jim Stutelberg
President of Primary Products
0.9 yrs
Andrew Taylor
President of Innovation & Commercial Development
Board of Directors Tenure
Average tenure and age of the Tate & Lyle board of directors in years:
- The tenure for the Tate & Lyle board of directors is about average.
Board of Directors
Gerry Murphy
Chairman
£350K
63
2 yrs
Nick Hampton
Chief Executive & Executive Director
£3M
51
4.6 yrs
Imran Nawaz
CFO & Director
0.7 yrs
Douglas Hurt
Senior Independent Director
£95K
62
2.3 yrs
Ajai Puri
Independent Non-Executive Director & Chairman of Research Advisory Group
£91K
65
7 yrs
Anne Minto
Independent Non Executive Director
£80K
65
6.3 yrs
Paul Forman
Independent Non-Executive Director
£66K
53
4.3 yrs
Lars Frederiksen
Independent Non-Executive Director
£66K
60
3 yrs
Sybella Stanley
Independent Non-Executive Director
£66K
56
3 yrs
Warren Tucker
Independent Non-Executive Director
56
0.4 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28. Jun 18 | Sell | Joan Braca | Individual | 28. Jun 18 | 28. Jun 18 | -15,829 | £6.41 | £-101,401 | ||
Management checks
We assess Tate & Lyle'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) Tate & Lyle 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.
TATE News
Simply Wall St News
What You Should Know About Tate & Lyle plc's (LON:TATE) Financial Strength
While small-cap stocks, such as Tate & Lyle plc (LON:TATE) with its market cap of UK£3.4b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … The following basic checks can help you get a picture of the company's balance sheet strength.
Simply Wall St - – Full articleWhy We Think Tate & Lyle plc (LON:TATE) Could Be Worth Looking At
Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Tate & Lyle plc (LON:TATE) due to its excellent fundamentals in more than one area. … that has been able to sustain great financial health over the past
Simply Wall St - – Full articleDid Tate & Lyle's (LON:TATE) Share Price Deserve to Gain 35%?
For example, the Tate & Lyle plc (LON:TATE) share price is up 35% in the last year, clearly besting than the market return of around 3.1% (not including dividends). … This means it's unlikely the market is judging the company based on earnings growth. … Indeed, when EPS is declining but the share price is up, it often means the market is considering other factors.
Simply Wall St - – Full articleWhy Tate & Lyle plc (LON:TATE) Is A Buy When Markets Go Down
Longstanding stocks such as Tate & Lyle plc has fared well over time in a volatile stock market, which is why it’s my top pick to invest in. … See our latest analysis for Tate & Lyle. … Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally
Simply Wall St - – Full articleTate & Lyle plc (LON:TATE): Time For A Financial Health Check
This article will examine TATE’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself. … Check out our latest analysis for Tate & Lyle
Simply Wall St - – Full articleWhy Tate & Lyle plc (LON:TATE) 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. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWant To Invest In Tate & Lyle plc (LON:TATE)? Here's How It Performed Lately
In this article, I will take a look at Tate & Lyle plc's (LON:TATE) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … View our latest analysis for Tate & Lyle? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 12%, indicating the rate at which TATE is growing has slowed down
Simply Wall St - – Full articleWhy Tate & Lyle plc (LON:TATE) Is A Top Dividend Stock
Tate & Lyle plc (LON:TATE) has pleased shareholders over the past 10 years, by paying out dividends. … The company currently pays out a dividend yield of 4.1% to shareholders, making it a relatively attractive dividend stock. … Let's take a look at Tate & Lyle in more detail.
Simply Wall St - – Full articleDoes Tate & Lyle plc's (LON:TATE) P/E Ratio Signal A Buying Opportunity?
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Tate & Lyle plc's (LON:TATE) P/E ratio and reflect on what it tells us about the company's share price. … Tate & Lyle has a price to earnings ratio of 14.26, based on the last twelve months.
Simply Wall St - – Full articleTate & Lyle plc (LON:TATE): What We Can Expect From This Growth Stock
Looking at Tate & Lyle plc's (LON:TATE) earnings update in September 2018,. … with profits predicted to rise by 3.0% next year … the higher past 5-year average growth rate of 12%
Simply Wall St - – Full articleTATE Company Info
Description
Tate & Lyle PLC, together with its subsidiaries, provides ingredients and solutions to the food, beverage, and other industries in the United States, the United Kingdom, other European countries, and internationally. It operates through three segments: Food & Beverage Solutions, Sucralose, and Primary Products. The company offers texturants, including corn-based starches and clean-label starches; sweeteners, such as high intensity sweeteners and specialty sweeteners; health and wellness ingredients comprising dietary fibers and oat proteins; and stabilizers. It also provides industrial starches and acidulants; commodities, such as corn gluten meal and corn gluten feed; and ethanol. In addition, the company is involved in in-house treasury, pension, and reinsurance businesses; citric acid and sucralose production; and research and development businesses, as well as the provision of Internet services. Tate & Lyle PLC was incorporated in 1903 and is headquartered in London, the United Kingdom.
Details
| Name: | Tate & Lyle plc |
| TATE | |
| Exchange: | LSE |
| Founded: | 1903 |
| £3,396,597,433 | |
| 462,751,694 | |
| Website: | http://www.tateandlyle.com |
| Address: |
Tate & Lyle plc 1 Kingsway, London, Greater London, WC2B 6AT, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | TATE | Ordinary Shares | London Stock Exchange | GB | GBP | 02. Jan 1992 | |
| OTCPK | TATY.F | Ordinary Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| DB | TLY | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| BATS-CHIXE | TATEL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 02. Jan 1992 | |
| OTCPK | TATY.Y | SPONSORED ADR | Pink Sheets LLC | US | USD | 16. Mar 1990 | |
| LSE | BD15 | 6 .5% CUM PRF GBP1 | London Stock Exchange | GB | GBP | 27. Aug 1996 |
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: | 2019/04/18 20:37 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/17 |
| Last earnings filing: | 2018/11/08 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2018/03/31 |
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.
