Big Yellow Group
Market Cap
UK£1.8b
Last Updated
2020/05/29 21:00 UTC
Data Sources
Company Financials +
Executive Summary
Big Yellow is the UK's brand leader in self storage.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -10.2% per year for the next 3 years
Snowflake Analysis
Established dividend payer with proven track record.
Similar Companies
Share Price & News
How has Big Yellow Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BYG's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
6.0%
BYG
6.8%
GB REITs
2.5%
GB Market
1 Year Return
-1.8%
BYG
-15.6%
GB REITs
-12.4%
GB Market
Return vs Industry: BYG exceeded the UK REITs industry which returned -15.5% over the past year.
Return vs Market: BYG exceeded the UK Market which returned -11.7% over the past year.
Shareholder returns
| BYG | Industry | Market | |
|---|---|---|---|
| 7 Day | 6.0% | 6.8% | 2.5% |
| 30 Day | -6.9% | -1.9% | 2.8% |
| 90 Day | -6.2% | -17.5% | -7.2% |
| 1 Year | 1.4%-1.8% | -12.6%-15.6% | -8.2%-12.4% |
| 3 Year | 40.5%26.8% | -12.4%-17.7% | -5.9%-17.5% |
| 5 Year | 87.4%58.0% | -3.6%-21.3% | 12.5%-12.9% |
Price Volatility Vs. Market
How volatile is Big Yellow Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Nicholas Vetch Is The Executive Chairman of the Board of Big Yellow Group Plc (LON:BYG) And Just Spent UK£100k On Shares3 months ago | Simply Wall St
Have Insiders Been Selling Big Yellow Group Plc (LON:BYG) Shares This Year?6 months ago | Simply Wall St
Have Insiders Been Selling Big Yellow Group Plc (LON:BYG) Shares This Year?Valuation
Is Big Yellow Group undervalued compared to its fair value and its price relative to the market?
10.3x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BYG (£10) is trading above our estimate of fair value (£8.03)
Significantly Below Fair Value: BYG is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: BYG is good value based on its PE Ratio (10.3x) compared to the REITs industry average (14.5x).
PE vs Market: BYG is good value based on its PE Ratio (10.3x) compared to the UK market (14.7x).
Price to Earnings Growth Ratio
PEG Ratio: BYG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: BYG is overvalued based on its PB Ratio (1.4x) compared to the GB REITs industry average (0.7x).
Next Steps
Future Growth
How is Big Yellow Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
-10.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BYG's earnings are forecast to decline over the next 3 years (-10.2% per year).
Earnings vs Market: BYG's earnings are forecast to decline over the next 3 years (-10.2% per year).
High Growth Earnings: BYG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: BYG's revenue (3.9% per year) is forecast to grow faster than the UK market (3.6% per year).
High Growth Revenue: BYG's revenue (3.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BYG's Return on Equity is forecast to be low in 3 years time (5.8%).
Next Steps
Past Performance
How has Big Yellow Group performed over the past 5 years?
8.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BYG has a large one-off gain of £93.5M impacting its September 30 2019 financial results.
Growing Profit Margin: BYG's current net profit margins are higher than last year (95.8%).
Past Earnings Growth Analysis
Earnings Trend: BYG's earnings have grown by 8.3% per year over the past 5 years.
Accelerating Growth: BYG's earnings growth over the past year (38.3%) exceeds its 5-year average (8.3% per year).
Earnings vs Industry: BYG earnings growth over the past year (38.3%) exceeded the REITs industry -22.4%.
Return on Equity
High ROE: BYG's Return on Equity (13.5%) is considered low.
Next Steps
Financial Health
How is Big Yellow Group's financial position?
Financial Position Analysis
Short Term Liabilities: BYG's short term assets (£19.5M) do not cover its short term liabilities (£40.8M).
Long Term Liabilities: BYG's short term assets (£19.5M) do not cover its long term liabilities (£363.7M).
Debt to Equity History and Analysis
Debt Level: BYG's debt to equity ratio (29.2%) is considered satisfactory.
Reducing Debt: BYG's debt to equity ratio has reduced from 38.2% to 29.2% over the past 5 years.
Debt Coverage: BYG's debt is well covered by operating cash flow (21%).
Interest Coverage: BYG's interest payments on its debt are well covered by EBIT (6.8x coverage).
Balance Sheet
Next Steps
Dividend
What is Big Yellow Group's current dividend yield, its reliability and sustainability?
3.32%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BYG's dividend (3.32%) is higher than the bottom 25% of dividend payers in the UK market (2.04%).
High Dividend: BYG's dividend (3.32%) is low compared to the top 25% of dividend payers in the UK market (5.73%).
Stability and Growth of Payments
Stable Dividend: BYG's dividends per share have been stable in the past 10 years.
Growing Dividend: BYG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (75%), BYG's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BYG's dividends in 3 years are forecast to be covered by earnings (80.6% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.9yrs
Average management tenure
CEO
Jim Gibson (58yo)
21.67yrs
Tenure
UK£1,182,482
Compensation
Mr. James Gibson Co-founded of Big Yellow Group PLC in September 1998 and has been its Chief Executive Officer and Executive Director since September 1998. Mr. Gibson was Finance Director of Heron Property ...
CEO Compensation Analysis
Compensation vs Market: Jim's total compensation ($USD1.46M) is about average for companies of similar size in the UK market ($USD1.78M).
Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 16.17yrs | UK£1.06m | 3.87% £68.9m | |
| CEO & Director | 21.67yrs | UK£1.18m | 1.44% £25.7m | |
| CFO & Director | 12.67yrs | UK£871.71k | 0.14% £2.4m | |
| Operations Director & Director | 20yrs | UK£863.11k | no data | |
| Head of Marketing & E-Commerce | no data | no data | no data | |
| Head of Human Resources | no data | no data | no data | |
| Head of IT | 4.25yrs | no data | no data | |
| Head of Facilities | no data | no data | no data | |
| Head of Store Operations | 4.83yrs | no data | no data | |
| Head of Development | 3.58yrs | no data | no data |
8.9yrs
Average Tenure
53yo
Average Age
Experienced Management: BYG's management team is seasoned and experienced (8.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman of the Board | 16.17yrs | UK£1.06m | 3.87% £68.9m | |
| CEO & Director | 21.67yrs | UK£1.18m | 1.44% £25.7m | |
| CFO & Director | 12.67yrs | UK£871.71k | 0.14% £2.4m | |
| Operations Director & Director | 20yrs | UK£863.11k | no data | |
| Independent Non-Executive Director | 6.83yrs | UK£45.10k | 0.011% £188.9k | |
| Independent Non-Executive Director | 9.67yrs | UK£40.00k | 0.0057% £101.9k | |
| Non-Executive Director | 0.17yr | no data | no data | |
| Senior Independent Director | no data | UK£45.10k | 0.055% £982.4k | |
| Independent Non-Executive Director | 2.92yrs | UK£45.10k | 0.0017% £30.6k | |
| Independent Non-Executive Director | 2.17yrs | UK£40.00k | no data |
9.7yrs
Average Tenure
56yo
Average Age
Experienced Board: BYG's board of directors are considered experienced (9.7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BYG insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.3%.
Top Shareholders
Company Information
Big Yellow Group Plc's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Big Yellow Group Plc
- Ticker: BYG
- Exchange: LSE
- Founded: 1998
- Industry: Specialized REITs
- Sector: Real Estate
- Market Cap: UK£1.779b
- Shares outstanding: 174.39m
- Website: https://www.bigyellow.co.uk
Number of Employees
Location
- Big Yellow Group Plc
- Unit 2, The Deans
- Bridge Road
- Bagshot
- Surrey
- GU19 5AT
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BYG | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | May 2000 |
| B9Y | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | May 2000 |
| BYLO.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | May 2000 |
| BYGL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | May 2000 |
Biography
Big Yellow is the UK's brand leader in self storage. Big Yellow now operates from a platform of 100 stores, including 25 stores branded as Armadillo Self Storage, in which the Group has a 20% interest. We own a further thirteen Big Yellow self storage development sites, of which six have planning consent. The current maximum lettable area of the existing platform (including Armadillo) is 5.7 million sq ft. When fully built out the portfolio will provide approximately 6.6 million sq ft of flexible storage space. Of the Big Yellow stores and sites, 98% by value are held freehold and long leasehold, with the remaining 2% short leasehold. The Group has pioneered the development of the latest generation of self storage facilities, which utilise state of the art technology and are located in high profile, accessible, main road locations. Our focus on the location and visibility of our Big Yellow stores, coupled with our excellent customer service and our market leading online platform, has created the most recognised brand name in the UK self storage industry.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/05/29 21:00 |
| End of Day Share Price | 2020/05/29 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/03/31 |
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.