Loading...

PZ Cussons

LSE:PZC
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PZC
LSE
£827M
Market Cap
  1. Home
  2. GB
  3. Household
Company description

PZ Cussons Plc manufactures and distributes personal care, home care, food and nutrition, and electrical products worldwide. The last earnings update was 109 days ago. More info.


Add to Portfolio Compare Print
PZC Share Price and Events
7 Day Returns
1.9%
LSE:PZC
1.8%
GB Household Products
1.3%
GB Market
1 Year Returns
-18.6%
LSE:PZC
4.4%
GB Household Products
-5%
GB Market
PZC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PZ Cussons (PZC) 1.9% -0.6% 3% -18.6% -39.4% -43.9%
GB Household Products 1.8% 6.4% 3% 4.4% -12.6% 12.9%
GB Market 1.3% -1.6% 1.9% -5% 15.8% 2.5%
1 Year Return vs Industry and Market
  • PZC underperformed the Household Products industry which returned 4.4% over the past year.
  • PZC underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Price Volatility
PZC
Industry
5yr Volatility vs Market

PZC Value

 Is PZ Cussons 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 PZ Cussons 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 PZ Cussons.

LSE:PZC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 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.

Calculation of Discount Rate/ Cost of Equity for LSE:PZC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Household Products Unlevered Beta Simply Wall St/ S&P Global 0.33
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.333 (1 + (1- 19%) (28.32%))
0.605
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:PZC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PZ Cussons 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:PZC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.55%)
2019 56.10 Analyst x2 52.65
2020 62.20 Analyst x2 54.79
2021 63.75 Analyst x2 52.71
2022 65.08 Est @ 2.09% 50.50
2023 66.28 Est @ 1.83% 48.27
2024 67.37 Est @ 1.65% 46.05
2025 68.40 Est @ 1.52% 43.88
2026 69.38 Est @ 1.43% 41.77
2027 70.33 Est @ 1.37% 39.74
2028 71.27 Est @ 1.33% 37.80
Present value of next 10 years cash flows £468.16
LSE:PZC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £71.27 × (1 + 1.23%) ÷ (6.55% – 1.23%)
£1,356.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,356.01 ÷ (1 + 6.55%)10
£719.20
LSE:PZC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £468.16 + £719.20
£1,187.36
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,187.36 / 418.31
£2.84
LSE:PZC Discount to Share Price
Calculation Result
Value per share (GBP) From above. £2.84
Current discount Discount to share price of £1.98
= -1 x (£1.98 - £2.84) / £2.84
30.4%

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

Current Discount
Amount off the current price PZ Cussons is available for.
Intrinsic value
30%
Share price is £1.98 vs Future cash flow value of £2.84
Current Discount Checks
For PZ Cussons to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PZ Cussons's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PZ Cussons'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 PZ Cussons's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PZ Cussons's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:PZC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-11-30) in GBP £0.11
LSE:PZC Share Price ** LSE (2019-05-17) in GBP £1.98
Europe Household Products Industry PE Ratio Median Figure of 5 Publicly-Listed Household Products Companies 17.85x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 790 Publicly-Listed Companies 16.24x

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

** Primary Listing of PZ Cussons.

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

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

= 1.98 ÷ 0.11

17.85x

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

  • PZ Cussons is good value based on earnings compared to the Europe Household Products industry average.
  • PZ Cussons is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does PZ Cussons's expected growth come at a high price?
Raw Data
LSE:PZC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
9.6%per year
Europe Household Products Industry PEG Ratio Median Figure of 5 Publicly-Listed Household Products Companies 2.06x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.85x ÷ 9.6%

1.86x

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

  • PZ Cussons is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PZ Cussons's assets?
Raw Data
LSE:PZC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-11-30) in GBP £1.08
LSE:PZC Share Price * LSE (2019-05-17) in GBP £1.98
Europe Household Products Industry PB Ratio Median Figure of 8 Publicly-Listed Household Products Companies 2.2x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.51x
LSE:PZC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.98 ÷ 1.08

1.84x

* Primary Listing of PZ Cussons.

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

  • PZ Cussons is good value based on assets compared to the Europe Household Products industry average.
X
Value checks
We assess PZ Cussons'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 Household Products 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 Household Products industry average (and greater than 0)? (1 check)
  5. PZ Cussons 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.

PZC Future Performance

 How is PZ Cussons expected to perform in the next 1 to 3 years based on estimates from 3 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
9.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PZ Cussons expected to grow at an attractive rate?
  • PZ Cussons's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • PZ Cussons's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • PZ Cussons'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:PZC Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:PZC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 9.6%
LSE:PZC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 1.4%
Europe Household Products Industry Earnings Growth Rate Market Cap Weighted Average 7.6%
Europe Household Products Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.8%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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:PZC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:PZC Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-05-31 747 79 58 2
2020-05-31 724 76 51 3
2019-05-31 722 71 47 3
LSE:PZC Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-11-30 724 74 46
2018-08-31 743 54 47
2018-05-31 763 35 48
2018-02-28 778 43 55
2017-11-30 805 51 64
2017-08-31 807 71 63
2017-05-31 809 91 62
2017-02-28 811 94 61
2016-11-30 814 97 58
2016-08-31 817 90 63
2016-05-31 821 82 68
2016-02-29 820 74 61

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PZ Cussons's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • PZ Cussons's revenue is expected to grow by 1.4% 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:PZC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from PZ Cussons Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:PZC Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-05-31 0.14 0.14 0.13 2.00
2020-05-31 0.12 0.12 0.12 2.00
2019-05-31 0.11 0.12 0.11 2.00
LSE:PZC Past Financials Data
Date (Data in GBP Millions) EPS *
2018-11-30 0.11
2018-08-31 0.11
2018-05-31 0.11
2018-02-28 0.13
2017-11-30 0.15
2017-08-31 0.15
2017-05-31 0.15
2017-02-28 0.15
2016-11-30 0.14
2016-08-31 0.15
2016-05-31 0.16
2016-02-29 0.14

*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.
  • PZ Cussons is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PZ Cussons'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
PZ Cussons 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.

PZC Past Performance

  How has PZ Cussons 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 PZ Cussons's growth in the last year to its industry (Household Products).
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.
  • PZ Cussons's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • PZ Cussons's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PZ Cussons's 1-year earnings growth is negative, it can't be compared to the Europe Household Products industry average.
Earnings and Revenue History
PZ Cussons'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 PZ Cussons Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:PZC Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-11-30 723.80 46.30 202.70
2018-08-31 743.20 47.00 201.75
2018-05-31 762.60 47.70 200.80
2018-02-28 778.00 55.40 189.30
2017-11-30 804.90 63.70 188.60
2017-08-31 807.05 63.05 199.25
2017-05-31 809.20 62.40 209.90
2017-02-28 811.35 61.10 209.45
2016-11-30 813.50 58.00 210.50
2016-08-31 817.35 62.85 208.15
2016-05-31 821.20 67.70 205.80
2016-02-29 819.75 60.75 212.05
2015-11-30 818.30 53.80 218.30
2015-08-31 818.70 53.10 220.20
2015-05-31 819.10 52.40 222.10
2015-02-28 817.70 71.50 203.10
2014-11-30 816.30 90.60 184.10
2014-08-31 838.85 91.00 187.80
2014-05-31 861.40 91.40 191.50
2014-02-28 880.80 77.65 208.55
2013-11-30 900.20 63.90 225.60
2013-08-31 891.70 63.50 224.70
2013-05-31 883.20 63.10 223.80
2013-02-28 871.45 48.95 222.70
2012-11-30 859.70 34.80 221.60
2012-08-31 859.30 34.60 218.60
2012-05-31 858.90 34.40 215.60

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

PZC Health

 How is PZ Cussons'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 PZ Cussons's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PZ Cussons is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PZ Cussons's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PZ Cussons'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 covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PZ Cussons Company Filings, last reported 5 months ago.

LSE:PZC Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-11-30 478.50 234.10 56.90
2018-08-31 478.50 234.10 56.90
2018-05-31 491.20 268.40 103.00
2018-02-28 491.20 268.40 103.00
2017-11-30 516.30 316.50 125.30
2017-08-31 516.30 316.50 125.30
2017-05-31 483.90 294.70 150.90
2017-02-28 526.50 294.70 150.90
2016-11-30 507.70 363.80 172.50
2016-08-31 507.70 363.80 172.50
2016-05-31 549.90 322.50 175.40
2016-02-29 549.90 322.50 175.40
2015-11-30 504.90 245.00 54.00
2015-08-31 504.90 245.00 54.00
2015-05-31 497.00 268.40 111.00
2015-02-28 497.00 268.40 111.00
2014-11-30 541.30 194.00 59.90
2014-08-31 541.30 194.00 59.90
2014-05-31 536.40 118.50 89.10
2014-02-28 536.40 118.50 89.10
2013-11-30 514.40 168.00 79.70
2013-08-31 514.40 168.00 79.70
2013-05-31 546.30 100.00 103.40
2013-02-28 546.30 100.00 103.40
2012-11-30 514.40 132.00 76.80
2012-08-31 514.40 132.00 76.80
2012-05-31 519.50 90.80 72.90
  • PZ Cussons's level of debt (48.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (32.5% vs 48.9% today).
  • Debt is well covered by operating cash flow (31.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.1x coverage).
X
Financial health checks
We assess PZ Cussons'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. PZ Cussons has a total score of 4/6, 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.

PZC Dividends

 What is PZ Cussons'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
4.19%
Current annual income from PZ Cussons dividends. Estimated to be 4.27% next year.
If you bought £2,000 of PZ Cussons shares you are expected to receive £84 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?
  • PZ Cussons's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.99%).
  • PZ Cussons's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.21%).
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:PZC 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 3 Analyst Estimates (S&P Global) See Below
Europe Household Products Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 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:PZC Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-05-31 0.08 2.00
2020-05-31 0.09 3.00
2019-05-31 0.08 3.00
LSE:PZC Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-08-30 0.083 3.937
2018-07-24 0.083 3.546
2017-09-13 0.083 3.019
2017-07-25 0.083 2.367
2016-09-07 0.081 2.437
2016-07-26 0.081 2.378
2015-08-25 0.080 2.665
2015-07-21 0.080 2.385
2014-08-18 0.078 2.252
2014-07-29 0.078 2.140
2013-07-23 0.074 1.977
2013-01-29 0.068 1.753
2012-08-21 0.067 1.979
2012-07-24 0.067 2.165
2011-08-17 0.066 2.004
2011-07-26 0.066 1.824
2010-07-27 0.059 1.643
2010-01-26 0.060 2.085
2009-07-30 0.053 2.158
2009-07-28 0.053 2.285

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 PZ Cussons's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess PZ Cussons'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 PZ Cussons afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PZ Cussons 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.

PZC Management

 What is the CEO of PZ Cussons'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
G. Kanellis
COMPENSATION £1,586,330
AGE 53
TENURE AS CEO 12.9 years
CEO Bio

Mr. G. Alex Kanellis has been Group Chief Executive Officer of PZ Cussons plc at PZ Cussons Nigeria Plc since June 1, 2006. Mr. Kanellis served as Regional Director for Asia at PZ Cussons PLC since 2003 and also served as its Managing Director of Indonesia since 2001. He joined in PZ Cussons Nigeria Plc in 1993 and served as its Managing Director of Thailand since 1998. He served as the Deputy Chief Executive at PZ Cussons PLC since May 2006. Mr. Kanellis has been an Executive Director of PZ Cussons PLC since June 1, 2003 and PZ Cussons Nigeria Plc since 2003. He has a Phd in Mechanical Engineering.

CEO Compensation
  • G.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • G.'s remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

G. Kanellis

TITLE
Group CEO & Executive Director
COMPENSATION
£2M
AGE
53
TENURE
12.9 yrs

Brandon Leigh

TITLE
CFO & Executive Director
COMPENSATION
£890K
AGE
47
TENURE
13.3 yrs

Jola Gillespie

TITLE
Chief Information Officer

Cathy Doyle-Heffernan

TITLE
Group Human Resources Director

Christos Giannopoulos

TITLE
Chief Executive Officer of PZ Cussons Africa
AGE
51

Sam. Plant

TITLE
Corporate Services Director & Company Secretary

C. Nicoloulias

TITLE
Regional Director of Pacific
COMPENSATION
£487K
AGE
71
Board of Directors Tenure

Average tenure and age of the PZ Cussons board of directors in years:

2.5
Average Tenure
55.5
Average Age
  • The average tenure for the PZ Cussons board of directors is less than 3 years, this suggests a new board.
Board of Directors

Caroline Silver

TITLE
Non-Executive Chair
COMPENSATION
£149K
TENURE
2.3 yrs

G. Kanellis

TITLE
Group CEO & Executive Director
COMPENSATION
£2M
AGE
53
TENURE
15.9 yrs

Brandon Leigh

TITLE
CFO & Executive Director
COMPENSATION
£890K
AGE
47
TENURE
13.3 yrs

Helen Owers

TITLE
Non-Executive Director
COMPENSATION
£68K
AGE
55
TENURE
7.3 yrs

Jez Maiden

TITLE
Non-Executive Director
COMPENSATION
£37K
AGE
56
TENURE
2.5 yrs

John Ross Nicolson

TITLE
Senior Independent Director
COMPENSATION
£60K
AGE
65

Tamara Minick-Scokalo

TITLE
Non-Executive Director
AGE
59
TENURE
1 yrs

Dariusz Kucz

TITLE
Non-executive Director
TENURE
1 yrs
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 (£)
30. Jul 18 Buy Brandon Leigh Individual 30. Jul 18 30. Jul 18 11,000 £2.32 £25,531
26. Jul 18 Buy Caroline Silver Individual 26. Jul 18 26. Jul 18 10,000 £2.20 £22,000
X
Management checks
We assess PZ Cussons'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. PZ Cussons 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.

PZC News

Simply Wall St News

Here's What You Should Know About PZ Cussons Plc's (LON:PZC) 4.2% Dividend Yield

We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. … PZ Cussons has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Conclusion To summarise, shareholders should always check that PZ Cussons's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

An Intrinsic Calculation For PZ Cussons Plc (LON:PZC) Suggests It's 29% Undervalued

Today we will run through one way of estimating the intrinsic value of PZ Cussons Plc (LON:PZC). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model? … The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period.

Simply Wall St -

Why PZ Cussons Plc's (LON:PZC) High P/E Ratio Isn't Necessarily A Bad Thing

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Looking at earnings over the last twelve months, PZ Cussons has a P/E ratio of 17.27. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Imagine Owning PZ Cussons (LON:PZC) And Wondering If The 46% Share Price Slide Is Justified

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Looking back five years, both PZ Cussons's share price and EPS declined; the latter at a rate of 5.9% per year. … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

PZ Cussons Plc (LON:PZC) Delivered A Weaker ROE Than Its Industry

This article is for those who would like to learn about Return On Equity (ROE). … Our data shows PZ Cussons has a return on equity of 9.8% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

An Examination Of PZ Cussons Plc (LON:PZC)

PZ Cussons Plc (LON:PZC) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St -

What does PZ Cussons Plc's (LON:PZC) Balance Sheet Tell Us About Its Future?

While small-cap stocks, such as PZ Cussons Plc (LON:PZC) with its market cap of UK£788m, 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

Simply Wall St -

Is Now The Time To Look At Buying PZ Cussons Plc (LON:PZC)?

saw significant share price movement during recent months on the LSE, rising to highs of £2.44 and falling to the lows of £2.09. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at PZ Cussons’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is PZ Cussons Plc's (LON:PZC) CEO Pay Fair?

Kanellis was appointed CEO of PZ Cussons Plc (LON:PZC). … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Kanellis's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Should Investors Know About PZ Cussons Plc's (LON:PZC) Earnings Trajectory?

PZ Cussons Plc's (LON:PZC) released its most recent earnings update in May 2018, whicha … suggested … business

Simply Wall St -

PZC Company Info

Description

PZ Cussons Plc manufactures and distributes personal care, home care, food and nutrition, and electrical products worldwide. It offers personal care products, including bar soaps, liquid hand washes, shower gels, and skincare and haircare products under the St.Tropez, Sanctuary Spa, and Being by Sanctuary Spa brands; dish care products under the Morning Fresh brand name, as well as beauty care products; and laundry soaps, and bulk and packaged washing powders under the Canoe, Zip, and Tempo brands, as well as fragrances. The company also provides dairy products, such as organic yoghurts, and granolas and smoothies under the Nunu and Olympic brands; cooking oils under the brands of Mamador and Devon King’s; edible oils, spreads, vinegars, and cheeses under the Minerva brand name; and baby foods comprising snacks under the Rafferty’s Garden brand name. In addition, it offers computing and mobile products, televisions, DVD players, home entertainment systems, refrigerators, freezers, air conditioners, generators, inverters, stabilizers, automatic voltage regulators, fans, air coolers, washing machines, water dispensers, water heaters, gas cookers, and microwaves under the Haier Thermocool brand, as well as pharmaceuticals and fats. The company was formerly known as Paterson Zochonis Plc and changed its name to PZ Cussons Plc in 2002. PZ Cussons Plc was founded in 1879 and is headquartered in Manchester, the United Kingdom.

Details
Name: PZ Cussons Plc
PZC
Exchange: LSE
Founded: 1879
£826,579,690
418,309,560
Website: http://www.pzcussons.com
Address: PZ Cussons Plc
Manchester Business Park,
3500 Aviator Way,
Manchester,
Greater Manchester, M22 5TG,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE PZC Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK PZCU.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 1ZQ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE PZCL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK PZCU.Y ADS Pink Sheets LLC US USD 24. Mar 2011
Number of employees
Current staff
Staff numbers
4,186
PZ Cussons employees.
Industry
Household Products
Household
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 21:06
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/01/29
Last earnings reported: 2018/11/30
Last annual earnings reported: 2018/05/31


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.