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ADM

Admiral Group LSE:ADM Stock Report

Last Price

UK£19.74

Market Cap

UK£5.8b

7D

2.2%

1Y

-35.8%

Updated

06 Oct, 2022

Data

Company Financials +
ADM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth3/6
Past Performance3/6
Financial Health4/6
Dividends5/6

ADM Stock Overview

Admiral Group plc provides financial services in the United Kingdom, Spain, Italy, France, Canada, India, and the United States.

Admiral Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Admiral Group
Historical stock prices
Current Share PriceUK£19.74
52 Week HighUK£33.01
52 Week LowUK£16.92
Beta0.22
1 Month Change-9.01%
3 Month Change-15.48%
1 Year Change-35.76%
3 Year Change-3.12%
5 Year Change4.58%
Change since IPO587.63%

Recent News & Updates

Aug 27
Admiral Group's (LON:ADM) Dividend Will Be Reduced To £1.05

Admiral Group's (LON:ADM) Dividend Will Be Reduced To £1.05

Admiral Group plc ( LON:ADM ) has announced that on 30th of September, it will be paying a dividend of£1.05, which a...

Aug 13
Admiral Group's (LON:ADM) Dividend Is Being Reduced To £1.05

Admiral Group's (LON:ADM) Dividend Is Being Reduced To £1.05

Admiral Group plc ( LON:ADM ) has announced that on 30th of September, it will be paying a dividend of£1.05, which a...

Shareholder Returns

ADMGB InsuranceGB Market
7D2.2%6.1%2.1%
1Y-35.8%-27.4%-13.5%

Return vs Industry: ADM underperformed the UK Insurance industry which returned -26.7% over the past year.

Return vs Market: ADM underperformed the UK Market which returned -12.6% over the past year.

Price Volatility

Is ADM's price volatile compared to industry and market?
ADM volatility
ADM Average Weekly Movement8.1%
Insurance Industry Average Movement4.8%
Market Average Movement5.6%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.9%

Stable Share Price: ADM is more volatile than 75% of UK stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: ADM's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of UK stocks.

About the Company

FoundedEmployeesCEOWebsite
199311,317Milena Mondini-de-Focatiishttps://admiralgroup.co.uk

Admiral Group plc provides financial services in the United Kingdom, Spain, Italy, France, Canada, India, and the United States. It offers insurance products, including motor, household, travel, and pet insurance, as well as personal lending products through Admiral loans. The company operates through UK Insurance, International Insurance, Admiral Loans, and Other segments.

Admiral Group Fundamentals Summary

How do Admiral Group's earnings and revenue compare to its market cap?
ADM fundamental statistics
Market CapUK£5.82b
Earnings (TTM)UK£391.20m
Revenue (TTM)UK£1.48b

14.9x

P/E Ratio

3.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ADM income statement (TTM)
RevenueUK£1.48b
Cost of RevenueUK£469.70m
Gross ProfitUK£1.01b
Other ExpensesUK£619.80m
EarningsUK£391.20m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.33
Gross Margin68.28%
Net Profit Margin26.42%
Debt/Equity Ratio78.0%

How did ADM perform over the long term?

See historical performance and comparison

Dividends

6.7%

Current Dividend Yield

66%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ADM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ADM?

Other financial metrics that can be useful for relative valuation.

ADM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.3x
Enterprise Value/EBITDA12.3x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

How does ADM's PE Ratio compare to its peers?

ADM PE Ratio vs Peers
The above table shows the PE ratio for ADM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.5x
BEZ Beazley
21.7x25.0%UK£3.6b
DLG Direct Line Insurance Group
9.5x16.8%UK£2.5b
SBRE Sabre Insurance Group
15.8x41.0%UK£246.4m
PGH Personal Group Holdings
39.1x63.7%UK£58.3m
ADM Admiral Group
14.9x9.9%UK£5.8b

Price-To-Earnings vs Peers: ADM is good value based on its Price-To-Earnings Ratio (14.9x) compared to the peer average (21.5x).


Price to Earnings Ratio vs Industry

How does ADM's PE Ratio compare vs other companies in the European Insurance Industry?

Price-To-Earnings vs Industry: ADM is expensive based on its Price-To-Earnings Ratio (14.9x) compared to the European Insurance industry average (10.3x)


Price to Earnings Ratio vs Fair Ratio

What is ADM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ADM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.9x
Fair PE Ratio18x

Price-To-Earnings vs Fair Ratio: ADM is good value based on its Price-To-Earnings Ratio (14.9x) compared to the estimated Fair Price-To-Earnings Ratio (18x).


Share Price vs Fair Value

What is the Fair Price of ADM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ADM (£19.74) is trading below our estimate of fair value (£31.97)

Significantly Below Fair Value: ADM is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


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Future Growth

How is Admiral Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


9.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ADM's forecast earnings growth (9.9% per year) is above the savings rate (0.9%).

Earnings vs Market: ADM's earnings (9.9% per year) are forecast to grow faster than the UK market (8.7% per year).

High Growth Earnings: ADM's earnings are forecast to grow, but not significantly.

Revenue vs Market: ADM's revenue is expected to decline over the next 3 years (-7.7% per year).

High Growth Revenue: ADM's revenue is forecast to decline over the next 3 years (-7.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ADM's Return on Equity is forecast to be high in 3 years time (36.9%)


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Past Performance

How has Admiral Group performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


13.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ADM has high quality earnings.

Growing Profit Margin: ADM's current net profit margins (26.4%) are lower than last year (44.6%).


Past Earnings Growth Analysis

Earnings Trend: ADM's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: ADM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ADM had negative earnings growth (-40.9%) over the past year, making it difficult to compare to the Insurance industry average (-33.7%).


Return on Equity

High ROE: ADM's Return on Equity (34.2%) is considered high.


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Financial Health

How is Admiral Group's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ADM's short term assets (£5.0B) do not cover its short term liabilities (£6.4B).

Long Term Liabilities: ADM's short term assets (£5.0B) exceed its long term liabilities (£1.1B).


Debt to Equity History and Analysis

Debt Level: ADM has more cash than its total debt.

Reducing Debt: ADM's debt to equity ratio has increased from 35.5% to 78% over the past 5 years.

Debt Coverage: ADM's debt is well covered by operating cash flow (80.8%).

Interest Coverage: ADM's interest payments on its debt are well covered by EBIT (23.2x coverage).


Balance Sheet


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Dividend

What is Admiral Group current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


6.69%

Current Dividend Yield

Dividend Yield vs Market

Admiral Group Dividend Yield vs Market
How does Admiral Group dividend yield compare to the market?
SegmentDividend Yield
Company (Admiral Group)6.7%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.0%
Industry Average (Insurance)5.1%
Analyst forecast in 3 Years (Admiral Group)7.7%

Notable Dividend: ADM's dividend (6.69%) is higher than the bottom 25% of dividend payers in the UK market (2.07%).

High Dividend: ADM's dividend (6.69%) is in the top 25% of dividend payers in the UK market (5.99%)


Stability and Growth of Payments

Stable Dividend: ADM's dividend payments have been volatile in the past 10 years.

Growing Dividend: ADM's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (66%), ADM's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (61.7%), ADM's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.4yrs

Average management tenure


CEO

Milena Mondini-de-Focatiis

2.17yrs

Tenure

UK£2,436,706

Compensation

Ms. Milena Mondini-de-Focatiis has been Executive Director at Admiral Group plc since August 11, 2020 and its Chief Executive Officer since January 1, 2021. She is deeply embedded in the Admiral culture wi...


CEO Compensation Analysis

Milena Mondini-de-Focatiis's Compensation vs Admiral Group Earnings
How has Milena Mondini-de-Focatiis's remuneration changed compared to Admiral Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

UK£391m

Mar 31 2022n/an/a

UK£488m

Dec 31 2021UK£2mUK£695k

UK£585m

Sep 30 2021n/an/a

UK£623m

Jun 30 2021n/an/a

UK£662m

Mar 31 2021n/an/a

UK£583m

Dec 31 2020UK£2mUK£234k

UK£503m

Compensation vs Market: Milena's total compensation ($USD2.73M) is about average for companies of similar size in the UK market ($USD3.04M).

Compensation vs Earnings: Milena's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: ADM's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: ADM's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

LSE:ADM Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
10 Mar 22BuyUK£76,682William RobertsIndividual3,000UK£25.56
08 Mar 22BuyUK£94,938Andrew CrossleyIndividual3,905UK£24.39
07 Mar 22BuyUK£293,299Milena Mondini-de-FocatiisIndividual11,593UK£26.26
07 Mar 22BuyUK£403,133Cristina NestaresIndividual16,974UK£23.75
04 Mar 22BuyUK£100,232Geraint JonesIndividual3,894UK£25.74
04 Mar 22BuyUK£27,253Annette CourtIndividual1,060UK£25.71

Ownership Breakdown

What is the ownership structure of ADM?
Owner TypeNumber of SharesOwnership Percentage
Public Companies121,8050.04%
State or Government156,7970.05%
Private Companies425,2250.1%
Employee Share Scheme4,153,9991.4%
General Public17,929,8706.1%
Individual Insiders25,862,5738.8%
Institutions246,243,59883.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 67.97% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
8.68%
Henry Engelhardt
25,605,472£505.3m7.69%no data
6.59%
Mawer Investment Management Ltd.
19,435,611£383.6m7.2%1.13%
5.87%
BlackRock, Inc.
17,301,037£341.4m14.23%0.01%
5.54%
FMR LLC
16,343,251£322.5m10.08%0.03%
5.04%
MEAG MUNICH ERGO Asset Management GmbH
14,857,781£293.2m-0.6%55.92%
4.04%
The Moondance Foundation, Endowment Arm
11,900,000£234.8m0%no data
3.81%
Bank Julius Bär & Co Ltd., Asset Management Arm
11,223,790£221.5m-14.34%1.22%
3.4%
Fidelity International Ltd
10,028,676£197.9m8.96%0.11%
3.21%
The Vanguard Group, Inc.
9,457,368£186.6m2.93%no data
2.03%
Rothschild Fund Management AG
5,984,608£118.1m2.98%18.29%
1.82%
Mackenzie Financial Corporation
5,380,865£106.2m-3.39%0.15%
1.66%
Admiral Group Plc, Employee Benefit Trust
4,887,898£96.5m-1.78%no data
1.62%
Legal & General Investment Management Limited
4,779,266£94.3m0.3%0.03%
1.49%
Close Asset Management Limited
4,384,360£86.5m-7.77%1.12%
1.41%
Admiral Group Employee Share Ownership Trust
4,153,999£82.0m-0.87%no data
1.37%
Rothschild Wealth Management (UK) Limited
4,046,892£79.9m0.79%2%
1.37%
Marathon Asset Management Limited
4,035,859£79.6m-3.57%0.52%
1.36%
Schroder Investment Management Limited
4,001,180£79.0m-4.63%0.07%
1.35%
1832 Asset Management L.P.
3,975,221£78.5m0%0.14%
1.24%
Manulife Asset Management
3,667,000£72.4m1529.89%0.07%
1.1%
State Street Global Advisors, Inc.
3,242,983£64.0m-1.75%no data
1.05%
Whitley Asset Management Ltd
3,089,947£61.0m-2.99%43.79%
1.01%
Employees Provident Fund of Malaysia
2,964,079£58.5m0%0.2%
0.99%
UBS Asset Management
2,911,685£57.5m35.21%0.01%
0.94%
Nielsen Capital Management FondsmÆGlerselskab A/S
2,769,212£54.7m0%44.42%

Company Information

Admiral Group plc's employee growth, exchange listings and data sources


Key Information

  • Name: Admiral Group plc
  • Ticker: ADM
  • Exchange: LSE
  • Founded: 1993
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Implied Market Cap: UK£5.820b
  • Shares outstanding: 294.89m
  • Website: https://admiralgroup.co.uk

Number of Employees


Location

  • Admiral Group plc
  • Ty Admiral
  • David Street
  • Cardiff
  • South Glamorgan
  • CF10 2EH
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ADMLSE (London Stock Exchange)YesOrdinary SharesGBGBPSep 2004
AMIG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDSep 2004
FLNDB (Deutsche Boerse AG)YesOrdinary SharesDEEURSep 2004
ADMLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPSep 2004
AMIG.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/06 00:00
End of Day Share Price2022/10/06 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.