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Chesnara

LSE:CSN
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CSN
LSE
£530M
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

Chesnara plc, together with its subsidiaries, engages in life assurance and pension businesses primarily in the United Kingdom, the Netherlands, and Sweden. The last earnings update was 50 days ago. More info.


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CSN Share Price and Events
Price Volatility
CSN
Industry
5yr Volatility vs Market

CSN Value

 Is Chesnara 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 Chesnara 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 Chesnara.

LSE:CSN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= £2.63 * 10.1%
£0.27
Book Value of Equity per Share Median Book Value from the past 5 years. £2.63
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.4%

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:CSN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 8.6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.567 (1 + (1- 19%) (22.02%))
0.668
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)
= 1.4% + (0.8 * 8.6%)
8.28%

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

The calculations below outline how an intrinsic value for Chesnara 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:CSN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.1% – 8.28%) * £2.63)
£0.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.05 / (8.28% - 1.4%)
£0.70
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £2.63 + £0.70
£3.33
LSE:CSN Discount to Share Price
Calculation Result
Value per share (GBP) From above. £3.33
Current discount Discount to share price of £3.52
= -1 x (£3.52 - £3.33) / £3.33
-5.8%

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

  • The current share price of Chesnara is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Chesnara's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chesnara's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:CSN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in GBP £0.36
LSE:CSN Share Price ** LSE (2018-10-19) in GBP £3.52
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 21 Publicly-Listed Insurance Companies 16.5x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 812 Publicly-Listed Companies 16.45x

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

** Primary Listing of Chesnara.

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

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

= 3.52 ÷ 0.36

9.86x

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

  • Chesnara is good value based on earnings compared to the GB Insurance industry average.
  • Chesnara is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Chesnara's expected growth come at a high price?
Raw Data
LSE:CSN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-11.8%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 20 Publicly-Listed Insurance Companies 1.56x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 577 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.86x ÷ -11.8%

-0.83x

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

  • Chesnara earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chesnara's assets?
Raw Data
LSE:CSN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in GBP £2.99
LSE:CSN Share Price * LSE (2018-10-19) in GBP £3.52
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.21x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,336 Publicly-Listed Companies 1.64x
LSE:CSN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 3.52 ÷ 2.99

1.18x

* Primary Listing of Chesnara.

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

  • Chesnara is good value based on assets compared to the GB Insurance industry average.
X
Value checks
We assess Chesnara'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. Chesnara 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.

CSN Future Performance

 How is Chesnara expected to perform in the next 1 to 3 years based on estimates from 0 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
-11.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chesnara expected to grow at an attractive rate?
  • Chesnara's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Chesnara's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Unable to compare Chesnara's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
LSE:CSN Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:CSN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -11.8%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 14.1%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.3%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*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:CSN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:CSN Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 35
2019-12-31 36
2018-12-31 29
LSE:CSN Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-06-30 791 15 53
2018-03-31 814 37 66
2017-12-31 837 60 78
2017-09-30 846 38 80
2017-06-30 854 16 82
2017-03-31 761 -22 58
2016-12-31 667 -60 35
2016-09-30 442 -32 24
2016-06-30 217 -5 12
2016-03-31 254 -2 26
2015-12-31 292 2 40
2015-09-30 426 4 35

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Chesnara's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Chesnara is high growth as no revenue estimate data is available.
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:CSN 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 0 Analyst Estimates (S&P Global) See Below

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

LSE:CSN Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.23 0.23 0.23 1.00
2019-12-31 0.24 0.24 0.24 1.00
2018-12-31 0.24 0.24 0.24 1.00
LSE:CSN Past Financials Data
Date (Data in GBP Millions) EPS *
2018-06-30 0.36
2018-03-31 0.44
2017-12-31 0.52
2017-09-30 0.55
2017-06-30 0.59
2017-03-31 0.44
2016-12-31 0.28
2016-09-30 0.19
2016-06-30 0.09
2016-03-31 0.20
2015-12-31 0.31
2015-09-30 0.29

*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.
  • Unable to establish if Chesnara will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Chesnara'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.
Chesnara has a total score of 0/6, 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.

CSN Past Performance

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

LSE:CSN Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 790.78 53.48 70.32
2018-03-31 813.88 65.96 70.15
2017-12-31 836.98 78.43 69.97
2017-09-30 845.72 79.99 63.03
2017-06-30 854.46 81.56 55.79
2017-03-31 760.69 58.42 49.30
2016-12-31 666.91 35.28 42.82
2016-09-30 441.78 23.64 42.62
2016-06-30 216.65 12.01 42.43
2016-03-31 254.46 25.90 41.87
2015-12-31 292.26 39.79 41.30
2015-09-30 426.43 35.40 40.52
2015-06-30 560.60 31.02 39.74
2015-03-31 573.24 28.30 40.17
2014-12-31 585.89 25.58 40.59
2014-09-30 642.72 40.26 40.31
2014-06-30 699.55 54.94 40.02
2014-03-31 717.67 52.15 39.39
2013-12-31 735.79 49.36 38.76
2013-09-30 677.52 43.72 38.15
2013-06-30 619.26 38.08 37.54
2013-03-31 558.72 33.01 37.28
2012-12-31 498.18 27.94 37.03
2012-09-30 288.63 28.75 38.16
2012-06-30 79.08 29.56 39.29
2012-03-31 29.07 27.61 39.04
2011-12-31 -20.94 25.67 38.80

*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.
  • Chesnara has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chesnara used its assets less efficiently than the GB Insurance industry average last year based on Return on Assets.
  • Chesnara has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chesnara'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.
Chesnara has a total score of 2/6, see the detailed checks below.

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

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

CSN Health

 How is Chesnara'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 Chesnara's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chesnara is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chesnara's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chesnara'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 66.3x 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 Chesnara Company Filings, last reported 3 months ago.

LSE:CSN Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 447.37 116.68 7,397.51
2018-03-31 447.37 116.68 7,397.51
2017-12-31 451.66 152.46 7,554.96
2017-09-30 451.66 152.46 7,554.96
2017-06-30 428.68 141.09 7,397.04
2017-03-31 428.68 141.09 7,397.04
2016-12-31 393.56 88.47 5,324.21
2016-09-30 393.56 88.47 5,324.21
2016-06-30 295.41 85.25 4,909.96
2016-03-31 295.41 85.25 4,909.96
2015-12-31 295.16 79.98 4,670.22
2015-09-30 295.16 79.98 4,670.22
2015-06-30 286.68 90.73 4,694.75
2015-03-31 286.68 90.73 4,694.75
2014-12-31 278.83 88.49 4,611.30
2014-09-30 278.83 88.49 4,611.30
2014-06-30 251.92 96.92 4,502.16
2014-03-31 251.92 96.92 4,502.16
2013-12-31 247.10 95.50 4,475.54
2013-09-30 247.10 95.50 4,475.54
2013-06-30 224.31 51.74 4,207.31
2013-03-31 224.31 51.74 4,207.31
2012-12-31 218.35 48.93 4,029.16
2012-09-30 218.35 48.93 4,029.16
2012-06-30 202.90 55.94 3,853.18
2012-03-31 202.90 55.94 3,853.18
2011-12-31 209.19 55.59 3,848.90
  • Chesnara's level of debt (26.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.3% vs 26.1% today).
  • Debt is not well covered by operating cash flow (13%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.8x coverage).
X
Financial health checks
We assess Chesnara'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. Chesnara 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.

CSN Dividends

 What is Chesnara'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
5.7%
Current annual income from Chesnara dividends. Estimated to be 6.05% next year.
If you bought £2,000 of Chesnara shares you are expected to receive £114 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?
  • Chesnara's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.9%).
  • Chesnara's dividend is above 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:CSN 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 0 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 23 Stocks 4.7%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 700 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 1.9%
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:CSN Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.22 1.00
2019-12-31 0.21 1.00
2018-12-31 0.21 1.00
LSE:CSN Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-04-17 0.201 5.252
2018-03-29 0.201 4.961
2017-04-18 0.195 5.036
2017-03-31 0.195 5.174
2016-04-20 0.189 5.847
2016-03-31 0.189 5.890
2015-03-31 0.184 5.590
2014-09-01 0.181 5.308
2014-03-28 0.179 5.609
2013-09-02 0.175 5.684
2013-03-28 0.174 6.943
2012-04-02 0.169 8.946
2012-03-30 0.169 9.011
2011-08-31 0.166 8.964
2011-03-31 0.164 6.906
2011-03-30 0.164 6.530
2010-03-31 0.160 7.069
2010-03-01 0.160 7.248
2009-03-31 0.156 9.325
2008-10-20 0.154 12.514

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 Chesnara's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Chesnara'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 Chesnara afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chesnara 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.

CSN Management

 What is the CEO of Chesnara'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
John Deane, image provided by Google.
John Deane
COMPENSATION £1,135,000
AGE 60
TENURE AS CEO 3.8 years
CEO Bio

Mr. John Deane, FIA, has been the Chief Executive Officer of Chesnara plc since January 1, 2015. Mr. Deane served as the Chief Executive of Intermediary Business at The Royal London Mutual Insurance Society Limited until June 2012. Mr. Deane has over 27 years of experience in the life assurance industry. His roles have involved leading acquisitions in the public and private arena and establishing an outsourcing company, including 17 years of senior executive and board experience. He is responsible for the intermediary businesses of Royal London. He served as Director of Group Corporate Development and Member of Management Board at Old Mutual Plc. He has been an Executive Director at Chesnara plc since December 03, 2014. He served as an Executive Director of The Royal London Mutual Insurance Society Limited from April 1, 2007 to June 29, 2012.

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

Average tenure of the Chesnara management team in years:

3.8
Average Tenure
  • The tenure for the Chesnara management team is about average.
Management Team

John Deane

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
60
TENURE
3.8 yrs

David Rimmington

TITLE
Group Finance Director & Executive Director
COMPENSATION
£685K
TENURE
5.4 yrs

Al Lonie

TITLE
Company Secretary
TENURE
0.5 yrs
Board of Directors Tenure

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

5.8
Average Tenure
60
Average Age
  • The tenure for the Chesnara board of directors is about average.
Board of Directors

Peter Mason

TITLE
Non-Executive Chairman
COMPENSATION
£112K
AGE
66
TENURE
9.8 yrs

John Deane

TITLE
CEO & Executive Director
COMPENSATION
£1M
AGE
60
TENURE
3.8 yrs

David Rimmington

TITLE
Group Finance Director & Executive Director
COMPENSATION
£685K
TENURE
5.4 yrs

nee France Oak

TITLE
Non Executive Director
COMPENSATION
£59K
TENURE
5.8 yrs

Jane Dale

TITLE
Senior Independent Director
COMPENSATION
£64K
AGE
58

David Brand

TITLE
Non Executive Director
COMPENSATION
£59K
TENURE
5.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Value (USD)
24. Nov 17 Buy John Deane Individual 24. Nov 17 24. Nov 17 10,000 $46,676.34
X
Management checks
We assess Chesnara'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. Chesnara 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.

CSN News

External News
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Simply Wall St News

Should You Consider Chesnara plc (LON:CSN) Because Of These Reasons

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Chesnara plc (LON:CSN) due to its excellent fundamentals in more than one area.

Simply Wall St -

Chesnara plc (LON:CSN): Has Recent Earnings Growth Beaten Long-Term Trend?

When Chesnara plc (LON:CSN) announced its most recent earnings (31 December 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well Chesnara has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time. … CSN's trailing twelve-month earnings (from 31 December 2017) of UK£78.43m has

Simply Wall St -

Why Chesnara plc (LON:CSN) Is A Dividend Rockstar

Over the past 10 years Chesnara plc (LON:CSN) has returned an average of 7.00% per year from dividend payouts. … The company currently pays out a dividend yield of 5.25% to shareholders, making it a relatively attractive dividend stock. … Does it pay an annual yield higher than 75% of dividend payers?

Simply Wall St -

Is Chesnara plc (LON:CSN) Undervalued?

Great news for investors – Chesnara is still trading at a fairly cheap price. … What’s more interesting is that, Chesnara’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Should You Buy Chesnara plc (LON:CSN) At This PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each pound of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for CSN Price per share = £4.1 Earnings per share = £0.524 ∴ Price-Earnings Ratio = £4.1 ÷ £0.524 = 7.8x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … At 7.8x, CSN’s P/E is lower than its industry peers (17.5x).

Simply Wall St -

Hedge Your Bet With These Dividend Payers

LSE:CSN Historical Dividend Yield Mar 6th 18 Keller Group plc (LSE:KLR) Keller Group plc provides geotechnical solutions in North America, Europe, the Middle East, Africa, and the Asia-Pacific. … LSE:KLR Historical Dividend Yield Mar 6th 18 The Go-Ahead Group plc (LSE:GOG) The Go-Ahead Group plc provides bus and rail passenger transportation services in the United Kingdom and Singapore. … LSE:GOG Historical Dividend Yield Mar 6th 18 For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.

Simply Wall St -

Grab Chesnara plc (LON:CSN) Today With A Solid 5.06% Dividend Yield

More specifically: It is paying an annual yield above 75% of dividend payers It has paid dividend every year without dramatically reducing payout in the past Its has increased its dividend per share amount over the past It is able to pay the current rate of dividends from its earnings It is able to continue to payout at the current rate in the future High Yield And Dependable Chesnara's yield sits at 5.06%, which is high for Insurance stocks. … LSE:CSN Historical Dividend Yield Feb 9th 18 If dividend is a key criteria in your investment consideration, then you need to make sure the dividend stock you're eyeing out is reliable in its payments. … Therefore, although payout is expected to increase, the fall in earnings may not equate to higher dividend income.Next Steps: Chesnara's strong dividend attributes make it, without a doubt, a stock dividend investors should be considering for their portfolios.

Simply Wall St -

Chesnara plc (LSE:CSN) Delivered A Better ROE Than The Industry, Here’s Why

See our latest analysis for CSN What you must know about ROE Return on Equity (ROE) weighs CSN’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity LSE:CSN Last Perf Nov 27th 17 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Is Chesnara plc (LSE:CSN) An Industry Laggard Or Leader?

However, analysts are not expecting this industry-beating trend to continue, with future growth expected to be -45.03% compared to the wider insurance sector growth hovering in the teens next year. … As a future industry laggard in growth, CSN may be a cheaper stock relative to its peers. … CSN is a insurance industry laggard in terms of its future growth outlook.

Simply Wall St -

CSN Company Info

Map
Description

Chesnara plc, together with its subsidiaries, engages in life assurance and pension businesses primarily in the United Kingdom, the Netherlands, and Sweden. The company operates through CA, Movestic, Waard Group, and Scildon segments. It underwrites life risks, such as death, disability, health, and accident; and provides a portfolio of investment contracts for the savings and retirement needs of customers through asset management. The company distributes its products principally through independent financial advisers. Chesnara plc was incorporated in 2003 and is headquartered in Preston, the United Kingdom.

Details
Name: Chesnara plc
CSN
Exchange: LSE
Founded: 2003
£529,757,860
149,860,781
Website: http://www.chesnara.co.uk
Address: Chesnara plc
Building 4,
2nd Floor,
Preston,
Lancashire, PR1 8UY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE CSN Ordinary Shares London Stock Exchange GB GBP 20. May 2004
BATS-CHIXE CSNl Ordinary Shares BATS 'Chi-X Europe' GB GBP 20. May 2004
Number of employees
Current staff
Staff numbers
329
Chesnara employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/10/19 18:04
End of day share price update: 2018/10/19 00:00
Last estimates confirmation: 2018/09/19
Last earnings filing: 2018/08/30
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.