Big Yellow Group
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Big Yellow is the UK's brand leader in self storage. The last earnings update was 26 days ago. More info.
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BYG Share Price and Events
7 Day Returns
1 Year Returns
BYG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Big Yellow Group (BYG) | -0.2% | -3.3% | 3.6% | 4.1% | 25% | 112.3% |
| GB REITs | -0.1% | -2.8% | -3.7% | -9% | -3.9% | 7.1% |
| GB Market | 0.4% | 0.3% | 1.6% | -3.7% | 19% | 3.4% |
1 Year Return vs Industry and Market
- BYG outperformed the REITs industry which returned -9% over the past year.
- BYG outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -3.7% over the past year.
Value
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
Big Yellow Group
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Big Yellow Group.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 7 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 6.5% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year GB Govt Bond Rate | 1.2% |
| Equity Risk Premium | S&P Global | 6.7% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.49 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.493 (1 + (1- 19%) (20.94%)) |
0.716 |
| 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)
= 1.23% + (0.8 * 6.65%) |
6.55% |
Discounted Cash Flow Calculation for LSE:BYG using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Big Yellow Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Big Yellow Group is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (GBP, Millions) | Source |
Present Value Discounted (@ 6.55%) |
|
|---|---|---|---|
| 2019 | 60.90 | Analyst x1 | 57.16 |
| 2020 | 73.30 | Analyst x1 | 64.57 |
| 2021 | 78.70 | Analyst x1 | 65.07 |
| 2022 | 85.89 | Est @ 9.14% | 66.65 |
| 2023 | 91.71 | Est @ 6.77% | 66.79 |
| 2024 | 96.39 | Est @ 5.11% | 65.88 |
| 2025 | 100.19 | Est @ 3.94% | 64.27 |
| 2026 | 103.32 | Est @ 3.13% | 62.21 |
| 2027 | 105.97 | Est @ 2.56% | 59.88 |
| 2028 | 108.25 | Est @ 2.16% | 57.42 |
| Present value of next 10 years cash flows | £629.90 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £108.25 × (1 + 1.23%) ÷ (6.55% – 1.23%) |
£2,059.79 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £2,059.79 ÷ (1 + 6.55%)10 |
£1,092.47 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £629.90 + £1,092.47 |
£1,722.37 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £1,722.37 / 165.58 |
£10.4 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £10.40 |
| Current discount | Discount to share price of
£10.23
= -1 x (£10.23 - £10.40) / £10.40 |
1.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Big Yellow Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Big Yellow Group'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 Big Yellow Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Big Yellow Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in GBP | £0.78 |
| LSE:BYG Share Price ** | LSE (2019-06-14) in GBP | £10.23 |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio | Median Figure of 43 Publicly-Listed REITs Companies | 12.74x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 789 Publicly-Listed Companies | 16.17x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Big Yellow Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:BYG Share Price ÷ EPS (both in GBP) = 10.23 ÷ 0.78 |
13.06x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Big Yellow Group is overvalued based on earnings compared to the GB REITs industry average.
- Big Yellow Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
Big Yellow Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 13.06x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts |
8.4%per year |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio | Median Figure of 23 Publicly-Listed REITs Companies | 0.85x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 576 Publicly-Listed Companies | 1.48x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 13.06x ÷ 8.4% |
1.56x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Big Yellow Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Big Yellow Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in GBP | £6.79 |
| LSE:BYG Share Price * | LSE (2019-06-14) in GBP | £10.23 |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio | Median Figure of 54 Publicly-Listed REITs Companies | 0.9x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,371 Publicly-Listed Companies | 1.48x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:BYG Share Price ÷ Book Value per Share (both in GBP) = 10.23 ÷ 6.79 |
1.51x |
* Primary Listing of Big Yellow Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Big Yellow Group is overvalued based on assets compared to the GB REITs industry average.
Value checks
We assess Big Yellow Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Big Yellow Group 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
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!
Earnings growth vs Low Risk Savings
- Big Yellow Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
- Big Yellow Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
- Big Yellow Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| LSE:BYG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts | 8.4% |
| LSE:BYG Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts | 5.4% |
| United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 16.2% |
| United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 2.6% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 10.7% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 5% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-03-31 | 162 | 1 | ||
| 2023-03-31 | 155 | 1 | ||
| 2022-03-31 | 151 | 95 | 173 | 5 |
| 2021-03-31 | 141 | 85 | 150 | 7 |
| 2020-03-31 | 132 | 75 | 155 | 7 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 126 | 72 | 127 |
| 2018-12-31 | 124 | 70 | 121 |
| 2018-09-30 | 121 | 68 | 116 |
| 2018-06-30 | 119 | 65 | 125 |
| 2018-03-31 | 117 | 63 | 134 |
| 2017-12-31 | 115 | 62 | 127 |
| 2017-09-30 | 113 | 61 | 120 |
| 2017-06-30 | 111 | 59 | 110 |
| 2017-03-31 | 110 | 56 | 100 |
| 2016-12-31 | 108 | 55 | 105 |
| 2016-09-30 | 106 | 54 | 110 |
| 2016-06-30 | 104 | 55 | 111 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 7 Analyst Estimates (S&P Global) | See Below |
All data from Big Yellow Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2024-03-31 | ||||
| 2023-03-31 | ||||
| 2022-03-31 | 1.31 | 1.80 | 0.82 | 2.00 |
| 2021-03-31 | 0.65 | 0.77 | 0.47 | 3.00 |
| 2020-03-31 | 0.95 | 1.09 | 0.80 | 2.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.78 |
| 2018-12-31 | 0.76 |
| 2018-09-30 | 0.74 |
| 2018-06-30 | 0.79 |
| 2018-03-31 | 0.85 |
| 2017-12-31 | 0.81 |
| 2017-09-30 | 0.77 |
| 2017-06-30 | 0.70 |
| 2017-03-31 | 0.64 |
| 2016-12-31 | 0.67 |
| 2016-09-30 | 0.70 |
| 2016-06-30 | 0.71 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Big Yellow Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- 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)
- 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)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Big Yellow Group has a total score of 2/6, 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 Big Yellow Group 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
Past Earnings growth analysis
- Big Yellow Group's year on year earnings growth rate has been positive over the past 5 years.
- Big Yellow Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Big Yellow Group's 1-year earnings growth is negative, it can't be compared to the GB REITs industry average.
Earnings and Revenue History
All data from Big Yellow Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 126.14 | 126.50 | 10.61 | |
| 2018-12-31 | 123.77 | 121.40 | 12.06 | |
| 2018-09-30 | 121.39 | 116.30 | 15.68 | |
| 2018-06-30 | 119.36 | 124.92 | 15.20 | |
| 2018-03-31 | 117.33 | 133.54 | 14.72 | |
| 2017-12-31 | 115.06 | 127.00 | 16.43 | |
| 2017-09-30 | 112.78 | 120.45 | 15.96 | |
| 2017-06-30 | 111.25 | 109.98 | 14.77 | |
| 2017-03-31 | 109.71 | 99.51 | 13.59 | |
| 2016-12-31 | 107.89 | 104.76 | 13.25 | |
| 2016-09-30 | 106.07 | 110.01 | 12.92 | |
| 2016-06-30 | 103.93 | 111.00 | 12.84 | |
| 2016-03-31 | 101.79 | 112.00 | 12.76 | |
| 2015-12-31 | 99.81 | 120.87 | 12.59 | |
| 2015-09-30 | 97.83 | 129.73 | 12.41 | |
| 2015-06-30 | 92.81 | 117.66 | 12.17 | |
| 2015-03-31 | 87.79 | 105.59 | 11.94 | |
| 2014-12-31 | 82.40 | 82.94 | 9.87 | |
| 2014-09-30 | 77.01 | 60.30 | 7.80 | |
| 2014-06-30 | 74.69 | 59.92 | 7.71 | |
| 2014-03-31 | 72.38 | 59.55 | 7.62 | |
| 2013-12-31 | 71.25 | 49.35 | 7.53 | |
| 2013-09-30 | 70.11 | 39.16 | 7.43 | |
| 2013-06-30 | 70.20 | 35.52 | 7.58 | |
| 2013-03-31 | 70.29 | 31.88 | 7.72 | |
| 2012-12-31 | 68.82 | 8.57 | 7.82 | |
| 2012-09-30 | 67.35 | -14.75 | 7.92 | |
| 2012-06-30 | 66.20 | -25.15 | 7.54 |
*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.
- Big Yellow Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Big Yellow Group used its assets more efficiently than the GB REITs industry average last year based on Return on Assets.
- Big Yellow Group's use of capital has not improved over the past 3 years (Return on Capital Employed).
Past performance checks
We assess Big Yellow Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Big Yellow Group 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.
Health
How is Big Yellow Group'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 Big Yellow Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Big Yellow Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Big Yellow Group's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x 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.
All data from Big Yellow Group Company Filings, last reported 2 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,123.90 | 354.65 | 17.90 |
| 2018-12-31 | 1,123.90 | 354.65 | 17.90 |
| 2018-09-30 | 1,084.83 | 296.88 | 6.05 |
| 2018-06-30 | 1,084.83 | 296.88 | 6.05 |
| 2018-03-31 | 981.15 | 351.86 | 6.85 |
| 2017-12-31 | 981.15 | 351.86 | 6.85 |
| 2017-09-30 | 948.63 | 332.09 | 5.48 |
| 2017-06-30 | 948.63 | 332.09 | 5.48 |
| 2017-03-31 | 890.35 | 328.24 | 6.91 |
| 2016-12-31 | 890.35 | 328.24 | 6.91 |
| 2016-09-30 | 868.25 | 334.50 | 5.86 |
| 2016-06-30 | 868.25 | 334.50 | 5.86 |
| 2016-03-31 | 829.39 | 332.61 | 17.21 |
| 2015-12-31 | 829.39 | 332.61 | 17.21 |
| 2015-09-30 | 794.48 | 301.46 | 4.60 |
| 2015-06-30 | 794.48 | 301.46 | 4.60 |
| 2015-03-31 | 750.91 | 307.38 | 8.19 |
| 2014-12-31 | 750.91 | 307.38 | 8.19 |
| 2014-09-30 | 619.12 | 259.96 | 8.12 |
| 2014-06-30 | 619.12 | 259.96 | 8.12 |
| 2014-03-31 | 594.06 | 254.71 | 3.30 |
| 2013-12-31 | 594.06 | 254.71 | 3.30 |
| 2013-09-30 | 579.51 | 254.01 | 1.71 |
| 2013-06-30 | 579.51 | 254.01 | 1.71 |
| 2013-03-31 | 552.63 | 264.18 | 7.85 |
| 2012-12-31 | 552.63 | 264.18 | 7.85 |
| 2012-09-30 | 517.56 | 303.66 | 8.23 |
| 2012-06-30 | 517.56 | 303.66 | 8.23 |
- Big Yellow Group's level of debt (31.6%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (42.9% vs 31.6% today).
- Debt is well covered by operating cash flow (20.2%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 7x coverage).
Financial health checks
We assess Big Yellow Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Big Yellow Group has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Big Yellow Group'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
If you bought
£2,000 of
Big Yellow Group
shares you are expected to receive
£65
in your first year as a dividend.
Dividend Amount
- Big Yellow Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
- Big Yellow Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.43%).
Upcoming dividend payment
Purchase Big Yellow Group before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 REITs Industry Average Dividend Yield | Market Cap Weighted Average of 49 Stocks | 4.4% |
| United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield | Market Cap Weighted Average of 705 Stocks | 4.3% |
| United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| 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 | 5.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in £) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2024-03-31 | ||
| 2023-03-31 | ||
| 2022-03-31 | 0.41 | 6.00 |
| 2021-03-31 | 0.38 | 11.00 |
| 2020-03-31 | 0.35 | 12.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-21 | 0.332 | 3.247 |
| 2018-11-20 | 0.334 | 3.501 |
| 2018-10-15 | 0.334 | 3.756 |
| 2018-06-20 | 0.310 | 3.299 |
| 2018-05-22 | 0.310 | 3.267 |
| 2017-11-21 | 0.306 | 3.538 |
| 2017-10-16 | 0.306 | 3.939 |
| 2017-06-20 | 0.282 | 3.637 |
| 2017-05-23 | 0.282 | 3.553 |
| 2016-11-22 | 0.270 | 3.790 |
| 2016-10-17 | 0.270 | 3.918 |
| 2016-07-22 | 0.256 | 3.447 |
| 2015-11-17 | 0.242 | 3.102 |
| 2015-07-21 | 0.226 | 3.206 |
| 2014-11-19 | 0.208 | 3.275 |
| 2014-05-21 | 0.168 | 3.264 |
| 2013-05-21 | 0.110 | 2.370 |
| 2012-05-30 | 0.100 | 2.956 |
| 2012-05-22 | 0.100 | 3.570 |
| 2011-05-24 | 0.100 | 3.617 |
| 2011-05-23 | 0.100 | 2.931 |
| 2010-11-19 | 0.080 | 2.420 |
| 2010-06-07 | 0.040 | 1.286 |
| 2009-11-17 | 0.000 | 0.000 |
| 2009-10-15 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Big Yellow Group has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Big Yellow Group only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Big Yellow Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Big Yellow Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Big Yellow Group 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
CEO
| COMPENSATION | £2,178,066 |
| AGE | 57 |
| TENURE AS CEO | 20.8 years |
CEO Bio
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 Corporation Limited and then Edge Properties plc which he joined in 1994. He serves as a Non-Executive Director of AnyJunk Limited. He serves as Non-Executive Director of CityStasher Limited. He also serves as a Non-Executive Director of Moby Self Storage. He is a Trustee of the London Children’s Ballet. Mr. Gibson is a Chartered Accountant by background having trained with Arthur Andersen & Co. where he specialised in the property and construction sectors, before leaving in 1989.
CEO Compensation
- Jim's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
- Jim'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 and age of the Big Yellow Group management team in years:
- The average tenure for the Big Yellow Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Nick Vetch
Executive Chairman of the Board
£2M
57
20.8 yrs
Jim Gibson
CEO & Director
£2M
57
20.8 yrs
John Trotman
CFO & Director
£2M
40
12 yrs
Adrian Lee
Operations Director & Director
£2M
52
Todd Morgan
Investor Relations Professional
11.8 yrs
Anthony Chenery
Head of Marketing & E-Commerce
46
Cheryl Hathaway
Head of Human Resources
52
Stuart Grinnall
Head of IT
43
3.3 yrs
David Knight
Head of Facilities
54
Tom Wilcockson
Head of New Business Development & Director of International Franchise
61
Board of Directors Tenure
Average tenure and age of the Big Yellow Group board of directors in years:
- The average tenure for the Big Yellow Group board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Nick Vetch
Executive Chairman of the Board
£2M
57
15.3 yrs
Jim Gibson
CEO & Director
£2M
57
20.8 yrs
John Trotman
CFO & Director
£2M
40
11.8 yrs
Adrian Lee
Operations Director & Director
£2M
52
19.1 yrs
Richard Cotton
Senior Independent Director
£44K
63
Georgina Harvey
Non-Executive Director
£44K
53
5.9 yrs
Vince Niblett
Non-Executive Director
£37K
2 yrs
Steve Johnson
Non-Executive Director
£39K
54
8.8 yrs
Anna Keay
Non-Executive Director
£3K
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 18. Mar 19 | Sell | Nicholas Vetch | Individual | 15. Mar 19 | 15. Mar 19 | -375,407 | £9.84 | £-3,695,807 | ||
| 06. Mar 19 | Sell | Nicholas Vetch | Individual | 05. Mar 19 | 05. Mar 19 | -490,829 | £9.88 | £-4,848,065 | ||
| 12. Sep 18 | Buy | Adrian Lee | Individual | 12. Sep 18 | 12. Sep 18 | 4,301 | £9.30 | £39,999 | ||
| 12. Sep 18 | Buy | John Trotman | Individual | 12. Sep 18 | 12. Sep 18 | 4,301 | £9.30 | £39,999 | ||
| 12. Sep 18 | Buy | Richard Cotton | Individual | 12. Sep 18 | 12. Sep 18 | 3,763 | £9.30 | £34,996 | ||
| 12. Sep 18 | Buy | Georgina Harvey | Individual | 12. Sep 18 | 12. Sep 18 | 3,225 | £9.30 | £29,992 | ||
| 12. Sep 18 | Buy | James Gibson | Individual | 12. Sep 18 | 12. Sep 18 | 5,376 | £9.30 | £49,997 | ||
| 12. Sep 18 | Buy | Nicholas Vetch | Individual | 12. Sep 18 | 12. Sep 18 | 7,526 | £9.30 | £69,992 | ||
| 02. Jul 18 | Sell | Nicholas Vetch | Individual | 29. Jun 18 | 29. Jun 18 | -800,435 | £9.49 | £-7,592,446 | ||
Management checks
We assess Big Yellow Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Big Yellow Group 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
Income Investors Should Know That Big Yellow Group Plc (LON:BYG) Goes Ex-Dividend Soon
Check out our latest analysis for Big Yellow Group If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. … Big Yellow Group is paying out a bit over half its earnings, which suggests the company is striking a balance between reinvesting in growth, and paying dividends. … However, we'd also note that Big Yellow Group is paying out more than half of its earnings and cash flow as profits, which could limit the dividend growth if earnings growth slows.
Simply Wall St - – Full articleIs Big Yellow Group Plc's (LON:BYG) CEO Salary Justified?
First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Big Yellow Group How Does Jim Gibson's Compensation Compare With Similar Sized Companies? … We compared the total CEO remuneration paid by Big Yellow Group Plc, and compared it to remuneration at a group of similar sized companies.
Simply Wall St - – Full articleIs Big Yellow Group Plc's (LON:BYG) ROE Of 11% Impressive?
The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Big Yellow Group: 11% = UK£116m ÷ UK£1.1b (Based on the trailing twelve months to September 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Big Yellow Group Have A Good Return On Equity? … Combining Big Yellow Group's Debt And Its 11% Return On Equity Although Big Yellow Group does use debt, its debt to equity ratio of 0.27 is still low.
Simply Wall St - – Full articleShould You Buy Big Yellow Group Plc (LON:BYG) For Its Dividend?
Dividend paying stocks like Big Yellow Group Plc (LON:BYG) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. … In this case, Big Yellow Group likely looks attractive to dividend investors, given its 3.2% dividend yield and nine-year payment history.
Simply Wall St - – Full articleWhat Do Investors Need To Know About Big Yellow Group Plc's (LON:BYG) Growth?
Looking at Big Yellow Group Plc's (LON:BYG) earnings update in September 2018,. … Currently with a trailing-twelve-month profit of UK£134m, the consensus growth rate suggests that earnings will drop to. … In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Big Yellow Group in the longer term
Simply Wall St - – Full articleIs Big Yellow Group Plc (LON:BYG) A Healthy REIT?
real estate investment trust (REIT) based in Bagshot, United Kingdom. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent
Simply Wall St - – Full articleDoes Big Yellow Group's Share Price Gain of 67% Match Its Business Performance?
For example, the Big Yellow Group Plc (LON:BYG) share price is up 67% in the last 5 years, clearly besting than the market return of around 25%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Big Yellow Group achieved compound earnings per share (EPS) growth of 25% per year.
Simply Wall St - – Full articleShould Big Yellow Group Plc (LON:BYG) Be Your Next Stock Pick?
Help shape the future of investing tools and you could win a $250 gift card! … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been able to sustain great financial health over the past.
Simply Wall St - – Full articleHave Insiders Been Selling Big Yellow Group Plc (LON:BYG) Shares This Year?
So shareholders might well want to know whether insiders have been buying or selling shares in Big Yellow Group Plc (LON:BYG). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'? … Big Yellow Group Insider Transactions Over The Last Year.
Simply Wall St - – Full articleA Closer Look At Big Yellow Group Plc's (LON:BYG) Impressive ROE
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Big Yellow Group Plc (LON:BYG). … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.11 in profit.
Simply Wall St - – Full articleCompany Info
Description
Big Yellow is the UK's brand leader in self storage. Big Yellow now operates from a platform of 99 stores, including 24 stores branded as Armadillo Self Storage, in which the Group has a 20% interest. We own a further 12 Big Yellow self storage development sites of which three 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 6.5 million sq ft of flexible storage space. Of the Big Yellow stores and sites, 97% by value are held freehold and long leasehold, with the remaining 3% 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.
Details
| Name: | Big Yellow Group Plc |
| BYG | |
| Exchange: | LSE |
| Founded: | 1998 |
| £1,693,839,636 | |
| 165,575,722 | |
| Website: | http://www.bigyellow.co.uk |
| Address: |
Big Yellow Group Plc Unit 2, The Deans, Bridge Road, Bagshot, Bagshot, East Lothian, GU19 5AT, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | BYG | Ordinary Shares | London Stock Exchange | GB | GBP | 08. May 2000 | |
| OTCPK | BYLO.F | Ordinary Shares | Pink Sheets LLC | US | USD | 08. May 2000 | |
| DB | B9Y | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 08. May 2000 | |
| BATS-CHIXE | BYGL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 08. May 2000 |
Number of employees
Current staff
Industry
| Specialized REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/16 20:39 |
| End of day share price update: | 2019/06/14 00:00 |
| Last estimates confirmation: | 2019/06/11 |
| Last earnings filing: | 2019/05/21 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2019/03/31 |
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.
