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JUST

Just Group LSE:JUST Stock Report

Last Price

UK£0.56

Market Cap

UK£586.3m

7D

-23.9%

1Y

-37.6%

Updated

29 Sep, 2022

Data

Company Financials +
JUST fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance0/6
Financial Health3/6
Dividends0/6

JUST Stock Overview

Just Group plc provides various financial services in the retirement income market in the United Kingdom.

Rewards

Earnings are forecast to grow 57.36% per year

Risk Analysis

No risks detected for JUST from our risk checks.

Just Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Just Group
Historical stock prices
Current Share PriceUK£0.56
52 Week HighUK£0.99
52 Week LowUK£0.53
Beta1.51
1 Month Change-20.94%
3 Month Change-19.24%
1 Year Change-37.59%
3 Year Change6.51%
5 Year Change-60.96%
Change since IPO-73.50%

Recent News & Updates

Shareholder Returns

JUSTGB InsuranceGB Market
7D-23.9%-11.0%-4.1%
1Y-37.6%-30.7%-16.2%

Return vs Industry: JUST underperformed the UK Insurance industry which returned -28.9% over the past year.

Return vs Market: JUST underperformed the UK Market which returned -14.9% over the past year.

Price Volatility

Is JUST's price volatile compared to industry and market?
JUST volatility
JUST Average Weekly Movement5.8%
Insurance Industry Average Movement4.5%
Market Average Movement5.3%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.8%

Stable Share Price: JUST is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: JUST's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20041,037David Richardsonhttps://www.justgroupplc.co.uk

Just Group plc provides various financial services in the retirement income market in the United Kingdom. It offers de-risking solutions, guaranteed income for life, secure lifetime income, care plans, lifetime mortgages, and protection products. The company also provides professional services, including regulated financial advice and guidance services; and a range of business services, such as consultancy and software development, and outsourced customer service delivery and marketing services.

Just Group Fundamentals Summary

How do Just Group's earnings and revenue compare to its market cap?
JUST fundamental statistics
Market CapUK£586.26m
Earnings (TTM)-UK£187.50m
Revenue (TTM)UK£26.10m

22.5x

P/S Ratio

-3.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
JUST income statement (TTM)
RevenueUK£26.10m
Cost of Revenue-UK£72.10m
Gross ProfitUK£98.20m
Other ExpensesUK£285.70m
Earnings-UK£187.50m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Mar 09, 2023

Earnings per share (EPS)-0.18
Gross Margin376.25%
Net Profit Margin-718.39%
Debt/Equity Ratio80.9%

How did JUST perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

-8%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book 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 JUST?

Other financial metrics that can be useful for relative valuation.

JUST 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/Revenue33x
Enterprise Value/EBITDA-9.1x
PEG Ration/a

Price to Book Ratio vs Peers

How does JUST's PB Ratio compare to its peers?

JUST PB Ratio vs Peers
The above table shows the PB ratio for JUST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average1.3x
CSN Chesnara
1.1x59.4%UK£418.2m
PHNX Phoenix Group Holdings
0.9x90.6%UK£5.1b
HSD Hansard Global
2.2x5.5%UK£49.2m
LGEN Legal & General Group
1.1x3.5%UK£12.6b
JUST Just Group
0.3x57.4%UK£586.3m

Price-To-Book vs Peers: JUST is good value based on its Price-To-Book Ratio (0.3x) compared to the peer average (1.3x).


Price to Earnings Ratio vs Industry

How does JUST's PE Ratio compare vs other companies in the GB Insurance Industry?

Price-To-Book vs Industry: JUST is good value based on its Price-To-Book Ratio (0.3x) compared to the European Insurance industry average (1.1x)


Price to Book Ratio vs Fair Ratio

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

JUST PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.3x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate JUST's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

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

Below Fair Value: JUST (£0.56) is trading above our estimate of fair value (£0.27)

Significantly Below Fair Value: JUST is trading above our estimate of fair value.


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 more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

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

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


57.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JUST is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.9%).

Earnings vs Market: JUST is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: JUST is expected to become profitable in the next 3 years.

Revenue vs Market: JUST's revenue (35.4% per year) is forecast to grow faster than the UK market (4.5% per year).

High Growth Revenue: JUST's revenue (35.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: JUST's Return on Equity is forecast to be low in 3 years time (8.5%).


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Past Performance

How has Just Group performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-24.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: JUST is currently unprofitable.

Growing Profit Margin: JUST is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: JUST is unprofitable, and losses have increased over the past 5 years at a rate of 24.6% per year.

Accelerating Growth: Unable to compare JUST's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: JUST is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (-33.7%).


Return on Equity

High ROE: JUST has a negative Return on Equity (-7.83%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Just Group's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: JUST's short term assets (£26.1B) exceed its short term liabilities (£4.7B).

Long Term Liabilities: JUST's short term assets (£26.1B) exceed its long term liabilities (£19.5B).


Debt to Equity History and Analysis

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

Reducing Debt: JUST's debt to equity ratio has increased from 24% to 80.9% over the past 5 years.

Debt Coverage: JUST's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if JUST's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.77%

Current Dividend Yield

Dividend Yield vs Market

Just Group Dividend Yield vs Market
How does Just Group dividend yield compare to the market?
SegmentDividend Yield
Company (Just Group)1.8%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.3%
Industry Average (Insurance)5.4%
Analyst forecast in 3 Years (Just Group)2.8%

Notable Dividend: JUST's dividend (1.77%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (2.12%).

High Dividend: JUST's dividend (1.77%) is low compared to the top 25% of dividend payers in the UK market (6.08%).


Stability and Growth of Payments

Stable Dividend: JUST has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: JUST has only been paying a dividend for 8 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: JUST is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: JUST is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

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

3.3yrs

Average management tenure


CEO

David Richardson (50 yo)

6.42yrs

Tenure

UK£1,587,000

Compensation

Mr. David Louis Richardson, FIA, CFA, serves as Group Chief Executive Officer at Just Group Plc and at Group's insurance subsidiaries, Just Retirement Limited and Partnership Life Assurance Company Limited...


CEO Compensation Analysis

David Richardson's Compensation vs Just Group Earnings
How has David Richardson's remuneration changed compared to Just Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-UK£187m

Mar 31 2022n/an/a

-UK£111m

Dec 31 2021UK£2mUK£597k

-UK£35m

Sep 30 2021n/an/a

-UK£92m

Jun 30 2021n/an/a

-UK£148m

Mar 31 2021n/an/a

UK£9m

Dec 31 2020UK£2mUK£594k

UK£166m

Sep 30 2020n/an/a

UK£292m

Jun 30 2020n/an/a

UK£419m

Mar 31 2020n/an/a

UK£352m

Dec 31 2019UK£1mUK£545k

UK£286m

Sep 30 2019n/an/a

UK£137m

Jun 30 2019n/an/a

-UK£12m

Mar 31 2019n/an/a

-UK£38m

Dec 31 2018UK£1mUK£462k

-UK£64m

Sep 30 2018n/an/a

UK£40m

Jun 30 2018n/an/a

UK£145m

Mar 31 2018n/an/a

UK£150m

Dec 31 2017UK£1mUK£451k

UK£155m

Jun 30 2017n/an/a

UK£37m

Mar 31 2017n/an/a

UK£68m

Dec 31 2016UK£872kUK£332k

UK£98m

Compensation vs Market: David's total compensation ($USD1.75M) is about average for companies of similar size in the UK market ($USD1.39M).

Compensation vs Earnings: David's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: JUST's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: JUST's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


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:JUST Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
18 May 22BuyUK£4,736Andrew ParsonsIndividual5,785UK£0.82
16 May 22BuyUK£76,557Andrew ParsonsIndividual95,161UK£0.80

Ownership Breakdown

What is the ownership structure of JUST?
Owner TypeNumber of SharesOwnership Percentage
Public Companies334,0890.03%
Individual Insiders2,499,5100.2%
Private Companies2,546,0600.2%
Employee Share Scheme2,828,5460.3%
General Public30,644,9773.0%
Institutions999,700,45196.3%

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


Top Shareholders

Top 25 shareholders own 82.96% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11.16%
Baillie Gifford & Co.
115,860,479£65.4m0.46%0.04%
7.4%
Fidelity International Ltd
76,875,022£43.4m-3.26%0.03%
6%
Columbia Management Investment Advisers, LLC
62,274,644£35.2m6.03%0.01%
5.77%
Schroder Investment Management Limited
59,949,404£33.8m-3.14%0.03%
5.26%
BlackRock, Inc.
54,603,127£30.8m20.6%no data
5.05%
Aegon Asset Management UK Plc
52,456,892£29.6m0%0.19%
4.95%
Aberforth Partners LLP
51,415,833£29.0m-0.3%1.93%
4.78%
AXA Investment Managers S.A.
49,615,299£28.0m-7.77%0.07%
4.73%
Ignis Investment Services Limited
49,114,791£27.7m3.5%0.14%
4.33%
The Vanguard Group, Inc.
44,986,893£25.4m0.36%no data
3.24%
Janus Henderson Group plc
33,668,495£19.0m-3%0.01%
3.2%
Premier Fund Managers Limited
33,209,839£18.7m5.78%0.28%
2.56%
abrdn plc
26,609,645£15.0m-11.71%0.02%
2.27%
Dimensional Fund Advisors LP
23,593,563£13.3m-0.47%no data
1.99%
Norges Bank Investment Management
20,635,166£11.6m0%no data
1.8%
Legal & General Investment Management Limited
18,718,477£10.6m0.75%no data
1.13%
Bank Julius Bär & Co Ltd., Asset Management Arm
11,766,633£6.6m-0.42%0.04%
1.12%
N.F.U. Mutual Unit Managers Limited
11,657,991£6.6m0%0.22%
1%
ING Groep NV, Insurance and Banking Investments
10,424,611£5.9m0%0.07%
0.95%
Lombard Odier Asset Management (Europe) Limited
9,874,860£5.6m3.62%0.11%
0.93%
UBS Asset Management
9,688,884£5.5m-12.72%no data
0.9%
J O Hambro Capital Management Limited
9,361,993£5.3m-12.85%0.04%
0.87%
State Street Global Advisors, Inc.
9,035,805£5.1m11.54%no data
0.82%
Brunel Pension Partnership
8,521,050£4.8m0%0.07%
0.74%
Acadian Asset Management LLC
7,633,658£4.3m-0.67%0.02%

Company Information

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


Key Information

  • Name: Just Group plc
  • Ticker: JUST
  • Exchange: LSE
  • Founded: 2004
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Implied Market Cap: UK£586.264m
  • Shares outstanding: 1.04b
  • Website: https://www.justgroupplc.co.uk

Number of Employees


Location

  • Just Group plc
  • Enterprise House
  • Bancroft Road
  • Reigate
  • Surrey
  • RH2 7RP
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JUSTLSE (London Stock Exchange)YesOrdinary SharesGBGBPNov 2013
JUSTLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPNov 2013
JR0DB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2013

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 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.