Loading...

Spire Healthcare Group

LSE:SPI
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SPI
LSE
£522M
Market Cap
  1. Home
  2. GB
  3. Healthcare
Company description

Spire Healthcare Group plc, together with its subsidiaries, owns and operates private hospitals and clinics in the United Kingdom. The last earnings update was 21 days ago. More info.


Add to Portfolio Compare Print
SPI Share Price and Events
7 Day Returns
-1.8%
LSE:SPI
1.9%
GB Healthcare
1.9%
GB Market
1 Year Returns
-38.1%
LSE:SPI
-30.9%
GB Healthcare
1.2%
GB Market
SPI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spire Healthcare Group (SPI) -1.8% 6.3% 28.2% -38.1% -63% -
GB Healthcare 1.9% -0.8% -0.5% -30.9% -17.1% 162.3%
GB Market 1.9% 1.5% 9.1% 1.2% 14.5% 3.1%
1 Year Return vs Industry and Market
  • SPI underperformed the Healthcare industry which returned -30.9% over the past year.
  • SPI underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.2% over the past year.
Price Volatility
SPI
Industry
5yr Volatility vs Market

SPI Value

 Is Spire Healthcare 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 Spire Healthcare 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 Spire Healthcare Group.

LSE:SPI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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

Calculation of Discount Rate/ Cost of Equity for LSE:SPI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 19%) (95.55%))
1.201
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.201 * 6.65%)
9.21%

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

The calculations below outline how an intrinsic value for Spire Healthcare Group 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.

LSE:SPI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.21%)
2019 68.00 Analyst x1 62.26
2020 53.15 Analyst x4 44.56
2021 60.97 Analyst x3 46.80
2022 59.85 Analyst x2 42.07
2023 52.00 Analyst x1 33.47
2024 51.90 Est @ -0.2% 30.58
2025 52.02 Est @ 0.23% 28.07
2026 52.29 Est @ 0.53% 25.84
2027 52.68 Est @ 0.74% 23.83
2028 53.14 Est @ 0.88% 22.01
Present value of next 10 years cash flows £359.50
LSE:SPI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £53.14 × (1 + 1.23%) ÷ (9.21% – 1.23%)
£673.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £673.59 ÷ (1 + 9.21%)10
£279.03
LSE:SPI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £359.50 + £279.03
£638.52
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £638.52 / 401.08
£1.59
LSE:SPI Discount to Share Price
Calculation Result
Value per share (GBP) From above. £1.59
Current discount Discount to share price of £1.31
= -1 x (£1.31 - £1.59) / £1.59
17.5%

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

Current Discount
Amount off the current price Spire Healthcare Group is available for.
Intrinsic value
18%
Share price is £1.31 vs Future cash flow value of £1.59
Current Discount Checks
For Spire Healthcare Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Spire Healthcare Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Spire Healthcare 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 Spire Healthcare Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Spire Healthcare Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:SPI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.03
LSE:SPI Share Price ** LSE (2019-03-21) in GBP £1.31
United Kingdom of Great Britain and Northern Ireland Healthcare Industry PE Ratio Median Figure of 11 Publicly-Listed Healthcare Companies 23.77x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 808 Publicly-Listed Companies 15.98x

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

** Primary Listing of Spire Healthcare Group.

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

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

= 1.31 ÷ 0.03

46.57x

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

  • Spire Healthcare Group is overvalued based on earnings compared to the GB Healthcare industry average.
  • Spire Healthcare Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Spire Healthcare Group's expected growth come at a high price?
Raw Data
LSE:SPI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 46.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
28.2%per year
United Kingdom of Great Britain and Northern Ireland Healthcare Industry PEG Ratio Median Figure of 8 Publicly-Listed Healthcare Companies 1.56x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 576 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 46.57x ÷ 28.2%

1.65x

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

  • Spire Healthcare Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Spire Healthcare Group's assets?
Raw Data
LSE:SPI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £2.56
LSE:SPI Share Price * LSE (2019-03-21) in GBP £1.31
United Kingdom of Great Britain and Northern Ireland Healthcare Industry PB Ratio Median Figure of 15 Publicly-Listed Healthcare Companies 1.19x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,359 Publicly-Listed Companies 1.5x
LSE:SPI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.31 ÷ 2.56

0.51x

* Primary Listing of Spire Healthcare Group.

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

  • Spire Healthcare Group is good value based on assets compared to the GB Healthcare industry average.
X
Value checks
We assess Spire Healthcare 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 Healthcare 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 Healthcare industry average (and greater than 0)? (1 check)
  5. Spire Healthcare 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.

SPI Future Performance

 How is Spire Healthcare Group expected to perform in the next 1 to 3 years based on estimates from 8 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
28.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spire Healthcare Group expected to grow at an attractive rate?
  • Spire Healthcare Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Spire Healthcare Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Spire Healthcare 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:SPI Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:SPI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 28.2%
LSE:SPI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 3%
United Kingdom of Great Britain and Northern Ireland Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 27.1%
United Kingdom of Great Britain and Northern Ireland Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 9.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.2%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:SPI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:SPI Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,076 143 54 2
2022-12-31 1,048 133 47 3
2021-12-31 1,014 121 36 5
2020-12-31 983 119 29 8
2019-12-31 951 109 15 6
LSE:SPI Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 931 116 11
2018-09-30 929 112 14
2018-06-30 926 108 16
2018-03-31 929 116 16
2017-12-31 932 124 17
2017-09-30 935 144 22
2017-06-30 938 164 27
2017-03-31 932 171 40
2016-12-31 926 177 54
2016-09-30 915 177 59
2016-06-30 905 177 65
2016-03-31 895 166 62

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Spire Healthcare Group's earnings are expected to grow significantly at over 20% yearly.
  • Spire Healthcare Group's revenue is expected to grow by 3% 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:SPI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Spire Healthcare Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SPI Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.14 0.17 0.11 2.00
2022-12-31 0.12 0.15 0.09 3.00
2021-12-31 0.09 0.10 0.07 3.00
2020-12-31 0.07 0.09 0.06 5.00
2019-12-31 0.04 0.05 0.03 3.00
LSE:SPI Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.03
2018-09-30 0.03
2018-06-30 0.04
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.05
2017-06-30 0.07
2017-03-31 0.10
2016-12-31 0.13
2016-09-30 0.15
2016-06-30 0.16
2016-03-31 0.16

*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.
  • Spire Healthcare Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Spire Healthcare 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.
Spire Healthcare Group 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.

SPI Past Performance

  How has Spire Healthcare 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 Spire Healthcare Group's growth in the last year to its industry (Healthcare).
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.
  • Spire Healthcare Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Spire Healthcare Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Spire Healthcare Group's 1-year earnings growth is negative, it can't be compared to the GB Healthcare industry average.
Earnings and Revenue History
Spire Healthcare 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 Spire Healthcare Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SPI Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 931.10 11.30 365.00
2018-09-30 928.70 13.70 215.00
2018-06-30 926.30 16.10 65.00
2018-03-31 929.00 16.45 65.00
2017-12-31 931.70 16.80 65.00
2017-09-30 934.80 21.80 64.15
2017-06-30 937.90 26.80 63.30
2017-03-31 932.15 40.20 63.30
2016-12-31 926.40 53.60 63.30
2016-09-30 915.45 59.25 63.50
2016-06-30 904.50 64.90 63.70
2016-03-31 894.65 62.45 63.70
2015-12-31 884.80 60.00 63.70
2015-09-30 886.70 52.30 62.35
2015-06-30 888.60 44.60 61.00
2015-03-31 870.50 13.80 -2.30
2014-12-31 856.00 6.00 61.00
2014-09-30 830.10 -24.05 59.75
2014-06-30 804.20 -54.10 28.80
2014-03-31 784.30 -53.90 236.10
2013-12-31 764.50 102.20 54.90
2012-12-31 738.90 -130.00 170.80

*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.
  • Spire Healthcare Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Spire Healthcare Group used its assets less efficiently than the GB Healthcare industry average last year based on Return on Assets.
  • Spire Healthcare Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Spire Healthcare 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 Healthcare 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.
Spire Healthcare Group 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.

SPI Health

 How is Spire Healthcare 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 Spire Healthcare Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Spire Healthcare Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Spire Healthcare Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Spire Healthcare 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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x 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 Spire Healthcare Group Company Filings, last reported 2 months ago.

LSE:SPI Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,027.60 498.60 47.70
2018-09-30 1,027.60 498.60 47.70
2018-06-30 1,030.30 503.20 45.10
2018-03-31 1,030.30 503.20 45.10
2017-12-31 1,037.90 502.00 39.20
2017-09-30 1,037.90 502.00 39.20
2017-06-30 1,035.00 501.00 64.90
2017-03-31 1,035.00 501.00 64.90
2016-12-31 1,035.30 500.20 67.90
2016-09-30 1,035.30 500.20 67.90
2016-06-30 1,023.70 499.30 76.70
2016-03-31 1,023.70 499.30 76.70
2015-12-31 997.60 498.40 78.90
2015-09-30 997.60 498.40 78.90
2015-06-30 973.70 497.70 77.70
2015-03-31 973.70 497.70 77.70
2014-12-31 955.00 498.80 74.50
2014-09-30 960.00 498.80 74.50
2014-06-30 -263.90 1,775.40 148.20
2014-03-31 -248.60 1,718.70 145.20
2013-12-31 -256.20 1,703.40 111.50
2012-12-31 -441.80 2,383.90 133.80
  • Spire Healthcare Group's level of debt (48.5%) compared to net worth is high (greater than 40%).
  • Spire Healthcare Group had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is well covered by operating cash flow (23.3%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Spire Healthcare 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. Spire Healthcare Group has a total score of 3/6, 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.

SPI Dividends

 What is Spire Healthcare 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
2.89%
Current annual income from Spire Healthcare Group dividends. Estimated to be 2.39% next year.
If you bought £2,000 of Spire Healthcare Group shares you are expected to receive £58 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?
  • Spire Healthcare Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.04%).
  • Spire Healthcare Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.24%).
Upcoming dividend payment

Purchase Spire Healthcare Group on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:SPI 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 8 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.6%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 704 Stocks 4.3%
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 5.2%

Industry and Market average data is calculated daily.

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

LSE:SPI Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.04 1.00
2022-12-31 0.03 2.00
2021-12-31 0.03 4.00
2020-12-31 0.03 6.00
2019-12-31 0.03 6.00
LSE:SPI Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.038 2.857
2018-03-02 0.038 2.374
2018-03-01 0.038 1.693
2017-04-24 0.038 1.353
2016-04-14 0.048 1.404
2016-03-17 0.048 1.350
2015-08-21 0.026 0.778
2015-03-24 0.018 0.512
2015-03-23 0.018 0.477

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

  • Spire Healthcare Group has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Spire Healthcare Group only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Spire Healthcare Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess Spire Healthcare Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 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 Spire Healthcare Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Spire Healthcare 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.

SPI Management

 What is the CEO of Spire Healthcare 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
Justin Ash
COMPENSATION £637,415
TENURE AS CEO 1.4 years
CEO Bio

Mr. Justin J. Ash, BA (Hons), has been the Chief Executive Officer and Executive Director of Spire Healthcare Group Plc since October 30, 2017. Mr. Ash served as the Chief Executive Officer at Oasis Healthcare Limited since February 2008 until October 2017. Mr. Ash served as Chief Executive Officer at Oasis Dental Care Limited since 2008 until October 30, 2017. He served as Managing Director at Lloyds Pharmacy Limited. He was a senior consultant with Bain and Company in London and Paris and holds a number of senior NED and advisory roles. He held senior positions in the service and retail sector including general manager of KFC in the UK and Ireland and commercial director of Allied Domecq Spirits and Wines, Europe. He serves as Director of Oasis Healthcare Limited. He served as Director at Lloyds Pharmacy Limited. He serves as Non-executive Board Member of Al Nadhi Medical Company, Non-executive Chairman of The New World Trading Company Co and Vice Chair of NHS Partners Network.

CEO Compensation
  • Insufficient data for Justin to compare compensation growth.
  • Justin'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 Spire Healthcare Group management team in years:

0.8
Average Tenure
  • The average tenure for the Spire Healthcare Group management team is less than 2 years, this suggests a new team.
Management Team

Justin Ash

TITLE
CEO & Executive Director
COMPENSATION
£637K
TENURE
1.4 yrs

Jitesh Sodha

TITLE
CFO & Executive Director
TENURE
0.4 yrs

John Forrest

TITLE
Chief Operating Officer
TENURE
0.4 yrs

Cora McCallum

TITLE
Investor Relations Director

Dan Toner

TITLE
General Counsel & Group Company Secretary
AGE
49
TENURE
11.5 yrs

JJ de Gorter

TITLE
Chief Medical Officer
TENURE
0.3 yrs

Mat Mason

TITLE
Head of Supply Chain & Purchasing (Central)

Peter Corfield

TITLE
Chief Commercial Officer
TENURE
1.2 yrs

Philip Davies

TITLE
Deputy Company Secretary
Board of Directors Tenure

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

2.7
Average Tenure
63
Average Age
  • The average tenure for the Spire Healthcare Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Garry Watts

TITLE
Non Executive Chairman
COMPENSATION
£530K
AGE
60
TENURE
8.2 yrs

Justin Ash

TITLE
CEO & Executive Director
COMPENSATION
£637K
TENURE
1.4 yrs

Peter Bamford

TITLE
Deputy Chairman & Senior Independent Director
COMPENSATION
£95K
AGE
63
TENURE
1.8 yrs

Jitesh Sodha

TITLE
CFO & Executive Director
TENURE
0.4 yrs

Dame Janet Husband

TITLE
Independent Non-Executive Director
COMPENSATION
£79K
AGE
78
TENURE
4.8 yrs

Tony Bourne

TITLE
Independent Non-Executive Director
COMPENSATION
£65K
AGE
64
TENURE
4.8 yrs

Adèle Anderson

TITLE
Independent Non-Executive Director
COMPENSATION
£65K
AGE
53
TENURE
2.7 yrs

Simon Rowlands

TITLE
Non-Executive Director
COMPENSATION
£50K
AGE
61
TENURE
4.8 yrs

Ronnie van der Merwe

TITLE
Non-Executive Director
TENURE
0.8 yrs

Martin Angle

TITLE
Independent Non-Executive Director
AGE
68
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
05. Nov 18 Buy Simon Rowlands Individual 02. Nov 18 05. Nov 18 200,000 £1.32 £264,160
01. Oct 18 Buy Jitesh Sodha Individual 01. Oct 18 01. Oct 18 50,500 £1.47 £74,225
21. Sep 18 Buy Adèle Anderson Individual 21. Sep 18 21. Sep 18 9,582 £1.55 £14,858
09. Aug 18 Buy Justin Ash Individual 09. Aug 18 09. Aug 18 125,000 £1.60 £199,987
09. Aug 18 Buy Garry Watts Individual 09. Aug 18 09. Aug 18 100,000 £1.60 £159,996
09. Aug 18 Buy Peter Bamford Individual 09. Aug 18 09. Aug 18 10,000 £1.61 £16,092
08. Jun 18 Buy Peter Bamford Individual 07. Jun 18 07. Jun 18 4,000 £2.48 £9,920
X
Management checks
We assess Spire Healthcare 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. Spire Healthcare 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.

SPI News

Simply Wall St News

Did Spire Healthcare Group plc (LON:SPI) Create Value For Investors Over The Past Year?

Our data shows Spire Healthcare Group has a return on equity of 1.6% for the last year. … View our latest analysis for Spire Healthcare Group? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Something To Consider Before Buying Spire Healthcare Group plc (LON:SPI) For The 2.32% Dividend

Spire Healthcare Group plc (LON:SPI) has returned to shareholders over the past 3 years, an average dividend yield of 1.00% annually. … Let's take a look at Spire Healthcare Group in more detail. … Check out our latest analysis for Spire Healthcare Group

Simply Wall St -

Spire Healthcare Group plc (LON:SPI): The Return Story

and want to begin learning the link between Spire Healthcare Group plc (LON:SPI)’s return fundamentals and stock market performance. … Your return is tied to SPI’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment. … Thus, to understand how your money can grow by investing in Spire Healthcare Group, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

How Spire Healthcare Group plc's (LON:SPI) Earnings Growth Stacks Up Against The Industry

Measuring Spire Healthcare Group plc's (LON:SPI) track record of past performance is a valuable exercise for investors. … Today I will assess SPI's recent performance announced on 31 December 2017 and compare these figures to its historical trend and industry movements. … Commentary On SPI's Past Performance

Simply Wall St -

Is Spire Healthcare Group plc (LON:SPI) A Sell At Its Current PE Ratio?

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between Spire Healthcare Group plc (LON:SPI)’s fundamentals and stock market performance. … While this makes SPI appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio

Simply Wall St -

Spire Healthcare Group Plc (LON:SPI): What Does The Future Look Like?

Spire Healthcare Group Plc's (LON:SPI) announced its latest earnings update in December 2017, whicha … headwind with earnings

Simply Wall St -

With An ROE Of 1.62%, Can Spire Healthcare Group Plc (LON:SPI) Catch Up To The Industry?

See our latest analysis for Spire Healthcare Group Breaking down Return on Equity Return on Equity (ROE) is a measure of Spire Healthcare Group’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Spire Healthcare Group’s equity capital deployed. … Given a discrepancy of -3.18% between return and cost, this indicated that Spire Healthcare Group may be paying more for its capital than what it’s generating in return.

Simply Wall St -

Will Spire Healthcare Group Plc's (LON:SPI) Earnings Grow In The Years Ahead?

Below is my commentary, albeit very simple and high-level, on how market analysts view Spire Healthcare Group's earnings growth outlook over the next couple of years and whether the future looks brighter. … View our latest analysis for Spire Healthcare Group Analysts' outlook for the coming year seems positive, with earnings growth more than doubling. … This means, we can assume Spire Healthcare Group will grow its earnings by 25.25% every year for the next couple of years.

Simply Wall St -

Should You Be Tempted To Sell Spire Healthcare Group Plc (LON:SPI) Because Of Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for SPI Price per share = £2.2 Earnings per share = £0.042 ∴ Price-Earnings Ratio = £2.2 ÷ £0.042 = 52.5x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … SPI’s P/E of 52.5x is higher than its industry peers (46.6x), which implies that each dollar of SPI’s earnings is being overvalued by investors. … For example, if you are inadvertently comparing riskier firms with SPI, then SPI’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

What Should You Know About Spire Healthcare Group Plc's (LON:SPI) Future Margins?

To help investors get a top level understanding, I will try to evaluate Spire Healthcare Group's margin behaviour to assist in analysing the revenue and cost anatomy behind the earnings expectations for the future and the impact it has on shareholder returns relative to the wider industry. … View our latest analysis for Spire Healthcare Group A closer look at SPI's profit margin In general, the value that accrues to equity holders is partly reliant on the ability of a company to convert sales revenue in to earnings. … Margin Calculation for SPI Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 16.80 Million ÷ 931.70 Million = 1.80% The past five years have seen Spire Healthcare Group's margin expand, as a result of a 37.61% average growth in net income outstripping 5.22% in average revenue growth, indicating that that the previous revenue growth has been acompanied by a growing portion translated in to earnings.

Simply Wall St -

SPI Company Info

Description

Spire Healthcare Group plc, together with its subsidiaries, owns and operates private hospitals and clinics in the United Kingdom. It provides a range of integrated surgical, medical, and diagnostic services. The company offers various treatments in the areas of allergy and infectious diseases, blood tests, bones and joints, bowel treatments, breast screening and surgery, cancer investigations and treatments, cosmetic surgery, cyst removal, and dental surgery, as well as ear, nose, and throat treatments. It also provides eye surgery and treatments, family planning, foreign visa medical exams, gastroenterology, general medicine, general surgery, haematology, hand surgery, and heart and kidney treatments. In addition, the company offers treatments in the areas of men's health, neurosurgery and neurology, paediatrics, pain management, rehabilitation, sports, physiotherapy, podiatry, respiratory medicine, and rheumatology; and scans and investigations, skin treatments, spinal surgery and treatments, sports science, urology, vascular surgery, weight loss, and women's health. Further, it owns and operates Perform, a sports medicine, physiotherapy, and rehabilitation brand; and offers MRI/CT scanning, pathology, and consulting services. As of March 2, 2018, the company offered diagnostics, in-patient, daycase, and out-patient care services through 9 private hospitals, 11 clinics, and 1 Specialist Cancer Care Centre across England, Wales, and Scotland. Spire Healthcare Group plc was founded in 2007 and is headquartered in London, the United Kingdom.

Details
Name: Spire Healthcare Group plc
SPI
Exchange: LSE
Founded: 2007
£521,806,889
401,081,391
Website: http://www.spirehealthcare.com
Address: Spire Healthcare Group plc
3 Dorset Rise,
London,
Greater London, EC4Y 8EN,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SPI Ordinary Shares London Stock Exchange GB GBP 18. Jul 2014
OTCPK SRRH.F Ordinary Shares Pink Sheets LLC US USD 18. Jul 2014
DB S00 Ordinary Shares Deutsche Boerse AG DE EUR 18. Jul 2014
Number of employees
Current staff
Staff numbers
11,536
Spire Healthcare Group employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 22:40
End of day share price update: 2019/03/21 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2019/02/28
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.