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Beazley

LSE:BEZ
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BEZ
LSE
£3B
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

Beazley plc provides risk insurance and reinsurance solutions worldwide. The last earnings update was 74 days ago. More info.


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BEZ Share Price and Events
7 Day Returns
2.8%
LSE:BEZ
3.5%
GB Insurance
0.6%
GB Market
1 Year Returns
-5.1%
LSE:BEZ
-5%
GB Insurance
1.1%
GB Market
BEZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Beazley (BEZ) 2.8% 10.6% 5.5% -5.1% 71.9% 130.5%
GB Insurance 3.5% 7.8% 9.9% -5% 14.9% 23.7%
GB Market 0.6% 3.6% 6.9% 1.1% 15.6% 6.2%
1 Year Return vs Industry and Market
  • BEZ underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
Price Volatility
BEZ
Industry
5yr Volatility vs Market

Value

 Is Beazley 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 Beazley 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 Beazley.

LSE:BEZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 7 analysts.
= Stable Book Value * Return on Equity
= $3.59 * 18.1%
$0.65
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. $3.59
Discount Rate (Cost of Equity) See below 6.9%
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:BEZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 19%) (9.29%))
0.852
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.852 * 6.65%)
6.89%

Discounted Cash Flow Calculation for LSE:BEZ using Excess Returns Model Model

The calculations below outline how an intrinsic value for Beazley is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:BEZ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.1% – 6.89%) * $3.59)
$0.40
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.40 / (6.89% - 1.23%)
$7.14
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $3.59 + $7.14
$10.73
LSE:BEZ Discount to Share Price
Calculation Result
Exchange Rate USD/GBP
(Reporting currency to currency of LSE:BEZ)
0.77
Value per Share
(GBP)
= Value per Share in USD x Exchange Rate (USD/GBP)
= $10.73 x 0.77
£8.26
Value per share (GBP) From above. £8.26
Current discount Discount to share price of £5.63
= -1 x (£5.63 - £8.26) / £8.26
31.9%

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

Current Discount
Amount off the current price Beazley is available for.
Intrinsic value
32%
Share price is £5.63 vs Future cash flow value of £8.26
Current Discount Checks
For Beazley to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Beazley's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Beazley'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 Beazley's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Beazley's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:BEZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.13
LSE:BEZ Share Price ** LSE (2019-04-18) in GBP £5.63
LSE:BEZ Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.298 $7.31
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 16.26x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

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

** Primary Listing of Beazley.

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

= LSE:BEZ Share Price ÷ EPS (both in USD)

= 7.31 ÷ 0.13

56.07x

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

  • Beazley is overvalued based on earnings compared to the GB Insurance industry average.
  • Beazley is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Beazley's expected growth come at a high price?
Raw Data
LSE:BEZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 56.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
35.9%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 16 Publicly-Listed Insurance Companies 1.54x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 56.07x ÷ 35.9%

1.56x

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

  • Beazley is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Beazley's assets?
Raw Data
LSE:BEZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.80
LSE:BEZ Share Price * LSE (2019-04-18) in GBP £5.63
LSE:BEZ Share Price converted to USD reporting currency Exchange rate (GBP/ USD) 1.298 $7.31
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.12x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
LSE:BEZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:BEZ Share Price ÷ Book Value per Share (both in USD)

= 7.31 ÷ 2.80

2.61x

* Primary Listing of Beazley.

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

  • Beazley is overvalued based on assets compared to the GB Insurance industry average.
X
Value checks
We assess Beazley'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. Beazley has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Beazley expected to perform in the next 1 to 3 years based on estimates from 7 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
35.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Beazley expected to grow at an attractive rate?
  • Beazley's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Beazley's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Beazley's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:BEZ Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:BEZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 35.9%
LSE:BEZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 13.5%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
LSE:BEZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:BEZ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,305 335 5
2020-12-31 3,059 314 6
2019-12-31 2,836 274 6
LSE:BEZ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,152 279 68
2018-09-30 2,112 274 56
2018-06-30 2,070 265 44
2018-03-31 2,057 260 87
2017-12-31 2,043 259 130
2017-09-30 1,990 227 193
2017-06-30 1,937 194 255
2017-03-31 1,916 194 253
2016-12-31 1,894 194 251
2016-09-30 1,853 198 248
2016-06-30 1,812 203 245
2016-03-31 1,799 199 247

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Beazley's earnings are expected to grow significantly at over 20% yearly.
  • Beazley's revenue is expected to grow by 13.5% 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:BEZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Beazley Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BEZ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.65 0.79 0.53 7.00
2020-12-31 0.60 0.74 0.48 7.00
2019-12-31 0.52 0.62 0.42 7.00
LSE:BEZ Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.13
2018-09-30 0.11
2018-06-30 0.09
2018-03-31
2017-12-31 0.25
2017-09-30 0.37
2017-06-30 0.49
2017-03-31
2016-12-31 0.49
2016-09-30 0.48
2016-06-30 0.48
2016-03-31 0.48

*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.
  • Beazley is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Beazley'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.
Beazley has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Beazley 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 Beazley's growth in the last year to its industry (Insurance).
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.
  • Beazley's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Beazley's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Beazley's 1-year earnings growth is negative, it can't be compared to the GB Insurance industry average.
Earnings and Revenue History
Beazley'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 Beazley Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:BEZ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,152.40 68.20 250.70
2018-09-30 2,111.55 56.30 257.45
2018-06-30 2,070.30 44.40 264.20
2018-03-31 2,056.55 87.20 259.45
2017-12-31 2,043.20 130.00 254.70
2017-09-30 1,990.20 192.65 253.45
2017-06-30 1,937.20 255.30 252.20
2017-03-31 1,915.60 253.15 250.00
2016-12-31 1,894.00 251.00 247.80
2016-09-30 1,852.85 247.90 239.55
2016-06-30 1,811.70 244.80 231.30
2016-03-31 1,799.45 246.90 223.25
2015-12-31 1,787.20 249.00 215.20
2015-09-30 1,804.60 242.85 220.65
2015-06-30 1,822.00 236.70 226.10
2015-03-31 1,795.25 227.25 221.90
2014-12-31 1,768.50 217.80 217.70
2014-09-30 1,763.55 261.90 213.25
2014-06-30 1,758.60 306.00 208.80
2014-03-31 1,714.40 285.00 198.30
2013-12-31 1,670.20 264.00 187.80
2013-09-30 1,639.50 225.30 170.00
2013-06-30 1,608.80 186.60 152.20
2013-03-31 1,597.30 200.60 153.60
2012-12-31 1,585.80 214.60 155.00
2012-09-30 1,540.85 197.30 147.75
2012-06-30 1,495.90 180.00 140.50

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Beazley has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Beazley used its assets less efficiently than the GB Insurance industry average last year based on Return on Assets.
  • Beazley's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Beazley'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 Insurance 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.
Beazley has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is Beazley'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 Beazley's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Beazley is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Beazley's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Beazley's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 20.4x 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 Beazley Company Filings, last reported 3 months ago.

LSE:BEZ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,466.90 356.70 5,035.30
2018-09-30 1,466.90 356.70 5,035.30
2018-06-30 1,474.00 387.30 4,837.80
2018-03-31 1,474.00 387.30 4,837.80
2017-12-31 1,498.90 367.30 4,872.30
2017-09-30 1,498.90 367.30 4,872.30
2017-06-30 1,506.10 380.20 4,577.50
2017-03-31 1,506.10 380.20 4,577.50
2016-12-31 1,483.70 363.80 4,645.90
2016-09-30 1,483.70 363.80 4,645.90
2016-06-30 1,379.20 232.40 4,337.70
2016-03-31 1,379.20 232.40 4,337.70
2015-12-31 1,441.40 247.30 4,458.30
2015-09-30 1,441.40 247.30 4,458.30
2015-06-30 1,347.00 259.30 4,299.40
2015-03-31 1,347.00 259.30 4,299.40
2014-12-31 1,342.70 256.80 4,398.10
2014-09-30 1,342.70 256.80 4,398.10
2014-06-30 1,262.00 279.80 4,377.30
2014-03-31 1,262.00 279.80 4,377.30
2013-12-31 1,338.70 274.90 4,421.90
2013-09-30 1,338.70 274.90 4,421.90
2013-06-30 1,157.60 252.30 617.90
2013-03-31 1,157.60 252.30 617.90
2012-12-31 1,204.50 315.00 4,320.00
2012-09-30 1,204.50 315.00 4,320.00
2012-06-30 1,129.20 217.60 596.50
  • Beazley's level of debt (24.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (20.6% vs 24.3% today).
  • Debt is well covered by operating cash flow (78.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5x coverage).
X
Financial health checks
We assess Beazley'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. Beazley has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Beazley'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
2.05%
Current annual income from Beazley dividends. Estimated to be 2.93% next year.
If you bought £2,000 of Beazley shares you are expected to receive £41 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?
  • Beazley's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Beazley's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
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:BEZ 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 7 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

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

LSE:BEZ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.25 8.00
2020-12-31 0.22 10.00
2019-12-31 0.17 8.00
LSE:BEZ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-07 0.150 2.201
2018-02-09 0.139 1.997
2018-02-08 0.153 1.999
2017-02-03 0.249 4.290
2016-03-24 0.341 7.556
2015-02-09 0.293 6.386
2015-02-05 0.321 7.135
2014-07-22 0.377 9.450
2014-03-26 0.413 9.915
2013-07-23 0.129 3.582
2013-02-07 0.123 3.761
2012-02-08 0.121 5.024
2012-02-07 0.125 5.392
2011-02-08 0.117 5.795
2010-07-23 0.036 1.973
2010-02-17 0.100 6.128
2010-02-09 0.109 6.490
2009-04-23 0.096 6.318

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Beazley's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Beazley'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 Beazley afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Beazley has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Beazley'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
David Horton
COMPENSATION $1,559,070
AGE 55
TENURE AS CEO 10.6 years
CEO Bio

Mr. David Andrew Horton serves as Director of Lloyd's Syndicate - 6107. He joined Beazley in June 2003 as finance director. Mr. Horton serves as Chief Executive Officer and Director at Lloyd's Syndicate - 2623 (Beazley Furlonge Limited). Prior to that he held various financial positions within ING, NatWest and Lloyds Bank and was the chief financial officer for the UK wholesale banking division of ING immediately prior to joining Beazley. He qualified as a chartered accountant with Coopers and Lybrand in 1987. He joined the board of Man Group plc in 2013 as a non-executive director.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Beazley management team in years:

8
Average Tenure
54
Average Age
  • The average tenure for the Beazley management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Horton

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
55
TENURE
10.6 yrs

Martin Bride

TITLE
Group Finance Director & Executive Director
COMPENSATION
$932K
AGE
54
TENURE
10 yrs

Adrian Cox

TITLE
Chief Underwriting Officer & Director
COMPENSATION
$1M
AGE
46
TENURE
0.3 yrs

Ian Fantozzi

TITLE
Chief Operating Officer
TENURE
7.8 yrs

Stuart Simpson

TITLE
Chief Investment Officer

Lou Layton

TITLE
Group Head Broker Relations & Marketing
TENURE
0.3 yrs

Pippa Vowles

TITLE
Head of Talent Management
TENURE
0.8 yrs

King Flynn

TITLE
Head of Broker Relations - US

Andrew Pryde

TITLE
Chief Risk Officer
TENURE
8.3 yrs

Orville Lewis

TITLE
Head of Underwriting Practice
TENURE
13.5 yrs
Board of Directors Tenure

Average tenure and age of the Beazley board of directors in years:

3.3
Average Tenure
55
Average Age
  • The tenure for the Beazley board of directors is about average.
Board of Directors

David Roberts

TITLE
Non-Executive Chairman
COMPENSATION
$211K
AGE
56
TENURE
1.1 yrs

David Horton

TITLE
CEO & Executive Director
COMPENSATION
$2M
AGE
55
TENURE
15.8 yrs

Martin Bride

TITLE
Group Finance Director & Executive Director
COMPENSATION
$932K
AGE
54
TENURE
9.9 yrs

Adrian Cox

TITLE
Chief Underwriting Officer & Director
COMPENSATION
$1M
AGE
46
TENURE
8.3 yrs

John Likierman

TITLE
Non-Executive Director
COMPENSATION
$76K
AGE
75
TENURE
4.1 yrs

Chris LaSala

TITLE
Senior Independent Director
COMPENSATION
$67K
TENURE
0.1 yrs

Catherine Woods

TITLE
Non-Executive Director
COMPENSATION
$77K
AGE
55
TENURE
3.3 yrs

John Sauerland

TITLE
Non-Executive Director
COMPENSATION
$67K
AGE
54
TENURE
2.9 yrs

Bob Stuchbery

TITLE
Non-Executive Director
COMPENSATION
$86K
AGE
61
TENURE
2.7 yrs

Nicola Hodson

TITLE
Non-Executive Director
Who owns this company?
Recent Insider Trading
  • Beazley insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
27. Mar 19 Sell Adrian Cox Individual 25. Mar 19 25. Mar 19 -5,600 £5.06 £-28,327
14. Feb 19 Sell Adrian Cox Individual 13. Feb 19 13. Feb 19 -70,874 £5.05 £-358,091
14. Feb 19 Sell David Horton Individual 13. Feb 19 13. Feb 19 -108,136 £5.05 £-546,357
14. Feb 19 Sell Martin Bride Individual 13. Feb 19 13. Feb 19 -131,107 £5.05 £-662,418
14. Sep 18 Buy Christine LaSala Individual 12. Sep 18 12. Sep 18 20,700 £5.69 £117,742
21. Aug 18 Sell George Blunden Individual 21. Aug 18 21. Aug 18 -5,000 £5.87 £-29,337
23. Jul 18 Buy Robert Stuchbery Individual 20. Jul 18 20. Jul 18 9,500 £5.28 £50,169
X
Management checks
We assess Beazley'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. Beazley has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Need To Know: Beazley plc (LON:BEZ) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in Beazley plc (LON:BEZ). … Beazley Insider Transactions Over The Last Year. … In total, Beazley insiders sold more than they bought over the last year

Simply Wall St -

A Holistic Look At Beazley plc (LON:BEZ)

Help shape the future of investing tools and receive a $20 prize! … Beazley plc (LON:BEZ) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.

Simply Wall St -

Is Beazley plc's (LON:BEZ) CEO Paid At A Competitive Rate?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Beazley … How Does David Horton's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What's The Value Of Beazley plc (LON:BEZ)?

One of the most difficult industry to value is insurance, given that they adhere to different rules compared to other companies. … For example, insurance firms don’t have gross profits as such, but gross written premiums play a huge part in forecasting cash flows.

Simply Wall St -

Should You Be Concerned About Beazley plc's (LON:BEZ) ROE?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Beazley plc (LON:BEZ). … That means that for every £1 worth of shareholders' equity, it generated £0.030 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is There An Opportunity With Beazley plc's (LON:BEZ) Mispricing?

Valuing BEZ, an insurance stock, can be daunting since these financial firms generally have cash flows that are impacted by regulations that are not imposed upon other industries. … Industry-specific factors, such as gross written premiums are crucial in understanding how insurance companies make money.

Simply Wall St -

Is Beazley plc's (LON:BEZ) PE Ratio A Signal To Sell For Investors?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While BEZ might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions.

Simply Wall St -

Should You Buy Beazley plc (LON:BEZ) For Its Dividend?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Over the past 10 years, Beazley plc (LON:BEZ) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … Does Beazley tick all the boxes of a great dividend stock?

Simply Wall St -

Will Beazley plc (LON:BEZ) Continue To Underperform Its Industry?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want a simplistic look at the return on Beazley plc (LON:BEZ) stock. … Beazley plc (LON:BEZ) generated a below-average return on equity of 8.67% in the past 12 months, while its industry returned 12.19%.

Simply Wall St -

How Beazley plc (LON:BEZ) Can Add Value To Your Portfolio

Today I've chosen to put the spotlight on Beazley plc (LON:BEZ) due to its excellent fundamentals in more than one area. … that has been able to sustain great financial health over the past … If you're interested in understanding beyond my high-level commentary,

Simply Wall St -

Company Info

Description

Beazley plc provides risk insurance and reinsurance solutions worldwide. The company's Marine segment underwrites various marine classes, including hull, energy, cargo and specie, piracy, satellite, aviation, kidnap and ransom, and war risks. Its Political, Accident & Contingency segment underwrites terrorism, political violence, expropriation, and credit risks, as well as contingency and risks associated with contract frustration. This segment also underwrites life, health, personal accident, sports, and income protection risks. The company's Property segment provides commercial, homeowners’, and construction and engineering property insurance. Its Reinsurance segment specializes in writing property catastrophe, property per risk, casualty clash, aggregate excess of loss, and pro-rata businesses. The company's Specialty Lines segment underwrites professional, management, and environmental liability, including architects and engineers, healthcare, cyber, lawyers, technology, media, and business services, as well as directors and officers, and employment risk practices risks. The company was founded in 1986 and is based in London, the United Kingdom.

Details
Name: Beazley plc
BEZ
Exchange: LSE
Founded: 1986
£2,956,620,110
525,154,549
Website: http://www.beazley.com
Address: Beazley plc
Plantation Place South,
60 Great Tower Street,
London,
Greater London, EC3R 5AD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BEZ New Ordinary Shares London Stock Exchange GB GBP 11. Dec 2002
OTCPK BZLY.F New Ordinary Shares Pink Sheets LLC US USD 11. Dec 2002
DB A2AF7G New Ordinary Shares Deutsche Boerse AG DE EUR 11. Dec 2002
BATS-CHIXE BEZL New Ordinary Shares BATS 'Chi-X Europe' GB GBP 11. Dec 2002
Number of employees
Current staff
Staff numbers
1,384
Beazley employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 22:26
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/20
Last earnings filing: 2019/02/07
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.