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A & J Mucklow Group

LSE:MKLW
Snowflake Description

Adequate balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MKLW
LSE
£332M
Market Cap
  1. Home
  2. GB
  3. Real Estate
Company description

A&J Mucklow Group Plc is a long established Midlands based property company focusing on the long term ownership and development of industrial and commercial property. The last earnings update was 65 days ago. More info.


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MKLW Share Price and Events
7 Day Returns
1.9%
LSE:MKLW
-0.6%
GB REITs
1%
GB Market
1 Year Returns
-3.8%
LSE:MKLW
-4.8%
GB REITs
1.6%
GB Market
MKLW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
A & J Mucklow Group (MKLW) 1.9% 4.4% 4% -3.8% 11.7% 17.3%
GB REITs -0.6% -1.7% 5% -4.8% -4.5% 5.8%
GB Market 1% 2.3% 8.6% 1.6% 14% 5.9%
1 Year Return vs Industry and Market
  • MKLW outperformed the REITs industry which returned -4.8% over the past year.
  • MKLW underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
Price Volatility
MKLW
Industry
5yr Volatility vs Market

Value

 Is A & J Mucklow Group 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 A & J Mucklow 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for A & J Mucklow Group.

LSE:MKLW Discounted Cash Flow Data Sources
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 2 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.

Calculation of Discount Rate/ Cost of Equity for LSE:MKLW
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 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.54 (1 + (1- 19%) (24.01%))
0.762
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:MKLW using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for A & J Mucklow 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.

A & J Mucklow 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.

LSE:MKLW DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (GBP, Millions) Source Present Value
Discounted (@ 6.55%)
2019 17.10 Analyst x1 16.05
2020 17.40 Analyst x1 15.33
2021 17.50 Analyst x1 14.47
2022 17.71 Est @ 1.18% 13.74
2023 17.92 Est @ 1.19% 13.05
2024 18.13 Est @ 1.2% 12.39
2025 18.35 Est @ 1.21% 11.77
2026 18.57 Est @ 1.21% 11.18
2027 18.80 Est @ 1.22% 10.62
2028 19.03 Est @ 1.22% 10.09
Present value of next 10 years cash flows £128.70
LSE:MKLW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £19.03 × (1 + 1.23%) ÷ (6.55% – 1.23%)
£362.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £362.09 ÷ (1 + 6.55%)10
£192.05
LSE:MKLW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £128.70 + £192.05
£320.75
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £320.75 / 63.29
£5.07
LSE:MKLW Discount to Share Price
Calculation Result
Value per share (GBP) From above. £5.07
Current discount Discount to share price of £5.25
= -1 x (£5.25 - £5.07) / £5.07
-3.6%

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

  • The current share price of A & J Mucklow Group 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 A & J Mucklow Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are A & J Mucklow Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:MKLW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.90
LSE:MKLW Share Price ** LSE (2019-04-18) in GBP £5.25
United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio Median Figure of 45 Publicly-Listed REITs Companies 10.88x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.28x

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

** Primary Listing of A & J Mucklow Group.

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

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

= 5.25 ÷ 0.90

5.85x

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

  • A & J Mucklow Group is good value based on earnings compared to the GB REITs industry average.
  • A & J Mucklow 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 A & J Mucklow Group's expected growth come at a high price?
Raw Data
LSE:MKLW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-5.9%per year
United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio Median Figure of 26 Publicly-Listed REITs Companies 0.06x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for A & J Mucklow Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on A & J Mucklow Group's assets?
Raw Data
LSE:MKLW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £5.72
LSE:MKLW Share Price * LSE (2019-04-18) in GBP £5.25
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 1,365 Publicly-Listed Companies 1.52x
LSE:MKLW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.25 ÷ 5.72

0.92x

* Primary Listing of A & J Mucklow Group.

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

  • A & J Mucklow Group is overvalued based on assets compared to the GB REITs industry average.
X
Value checks
We assess A & J Mucklow Group'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 REITs 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 REITs industry average (and greater than 0)? (1 check)
  5. A & J Mucklow Group has a total score of 2/6, see the detailed checks below.

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

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

Future Performance

 How is A & J Mucklow Group expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

  • No analysts cover A & J Mucklow Group, future earnings growth has been estimated based on fundamentals.
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
-5.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is A & J Mucklow Group expected to grow at an attractive rate?
  • A & J Mucklow Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • A & J Mucklow Group'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.
  • A & J Mucklow Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:MKLW Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:MKLW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -5.9%
LSE:MKLW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 1%
United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate Market Cap Weighted Average 19.8%
United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
LSE:MKLW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:MKLW Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 18
2020-06-30 26 18 1
2019-06-30 25 18 1
LSE:MKLW Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 26 14 57
2018-09-30 25 12 63
2018-06-30 25 10 70
2018-03-31 25 12 60
2017-12-31 25 15 50
2017-09-30 25 16 40
2017-06-30 25 17 30
2017-03-31 24 17 25
2016-12-31 24 16 20
2016-09-30 24 16 23
2016-06-30 24 15 25
2016-03-31 24 15 34

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • A & J Mucklow Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • A & J Mucklow Group's revenue is expected to grow by 1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:MKLW 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 2 Analyst Estimates (S&P Global) See Below

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

LSE:MKLW Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30
2020-06-30
2019-06-30
LSE:MKLW Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.90
2018-09-30 1.00
2018-06-30 1.10
2018-03-31 0.95
2017-12-31 0.80
2017-09-30 0.63
2017-06-30 0.47
2017-03-31 0.39
2016-12-31 0.31
2016-09-30 0.36
2016-06-30 0.40
2016-03-31 0.54

*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 A & J Mucklow Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess A & J Mucklow Group'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.
A & J Mucklow Group 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.

Past Performance

  How has A & J Mucklow 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
Below we compare A & J Mucklow Group's growth in the last year to its industry (REITs).
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.
  • A & J Mucklow Group's year on year earnings growth rate has been positive over the past 5 years.
  • A & J Mucklow Group's 1-year earnings growth exceeds its 5-year average (12.7% vs 7.4%)
  • A & J Mucklow Group's earnings growth has not exceeded the GB REITs industry average in the past year (12.7% vs 19.3%).
Earnings and Revenue History
A & J Mucklow Group'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 A & J Mucklow Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:MKLW Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 25.60 56.80 4.20
2018-09-30 25.35 63.15 3.85
2018-06-30 25.10 69.50 3.50
2018-03-31 25.00 59.95 3.45
2017-12-31 24.90 50.40 3.40
2017-09-30 24.80 40.00 3.40
2017-06-30 24.70 29.60 3.40
2017-03-31 24.40 24.75 3.35
2016-12-31 24.10 19.90 3.30
2016-09-30 23.95 22.55 3.30
2016-06-30 23.80 25.20 3.30
2016-03-31 23.95 34.27 3.23
2015-12-31 24.10 43.34 3.16
2015-09-30 23.35 49.82 3.18
2015-06-30 22.60 56.30 3.20
2015-03-31 21.88 55.09 3.19
2014-12-31 21.15 53.89 3.18
2014-09-30 21.17 47.30 3.21
2014-06-30 21.19 40.70 3.23
2014-03-31 20.99 31.56 3.20
2013-12-31 20.79 22.42 3.17
2013-09-30 20.59 19.40 3.08
2013-06-30 20.40 16.39 3.00
2013-03-31 20.29 11.40 2.98
2012-12-31 20.19 6.41 2.96
2012-09-30 21.02 3.29 2.91
2012-06-30 21.86 0.17 2.86

*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.
  • A & J Mucklow Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • A & J Mucklow Group used its assets more efficiently than the GB REITs industry average last year based on Return on Assets.
  • A & J Mucklow Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess A & J Mucklow Group'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 REITs 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.
A & J Mucklow Group has a total score of 3/6, 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 A & J Mucklow 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 A & J Mucklow Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • A & J Mucklow Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • A & J Mucklow Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of A & J Mucklow Group'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 not covered by short term assets, assets are 0.2x 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 A & J Mucklow Group Company Filings, last reported 3 months ago.

LSE:MKLW Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 361.80 79.80 10.60
2018-09-30 361.80 79.80 10.60
2018-06-30 352.40 79.80 8.80
2018-03-31 352.40 79.80 8.80
2017-12-31 318.90 79.90 6.30
2017-09-30 318.90 79.90 6.30
2017-06-30 296.70 84.30 5.80
2017-03-31 296.70 84.30 5.80
2016-12-31 282.30 86.30 6.60
2016-09-30 282.30 86.30 6.60
2016-06-30 280.60 78.30 7.10
2016-03-31 280.60 78.30 7.10
2015-12-31 275.82 78.22 7.51
2015-09-30 275.82 78.22 7.51
2015-06-30 268.60 75.90 6.90
2015-03-31 268.60 75.90 6.90
2014-12-31 245.43 73.60 8.22
2014-09-30 245.43 73.60 8.22
2014-06-30 224.97 73.75 6.99
2014-03-31 224.97 73.75 6.99
2013-12-31 190.26 84.69 7.36
2013-09-30 190.26 84.69 7.36
2013-06-30 182.48 76.13 1.26
2013-03-31 182.48 76.13 1.26
2012-12-31 179.43 70.84 7.16
2012-09-30 179.43 70.84 7.16
2012-06-30 177.57 70.20 1.22
  • A & J Mucklow Group's level of debt (22.1%) 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 (44.4% vs 22.1% today).
  • Debt is not well covered by operating cash flow (17.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.4x coverage).
X
Financial health checks
We assess A & J Mucklow Group'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. A & J Mucklow Group 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.

Dividends

 What is A & J Mucklow 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
Dividend payments
4.34%
Current annual income from A & J Mucklow Group dividends. Estimated to be 4.58% next year.
If you bought £2,000 of A & J Mucklow Group shares you are expected to receive £87 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?
  • A & J Mucklow Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • A & J Mucklow Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.12%).
Upcoming dividend payment

Purchase A & J Mucklow Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:MKLW 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 2 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 4.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

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

LSE:MKLW Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.25 1.00
2020-06-30 0.24 2.00
2019-06-30 0.23 2.00
LSE:MKLW Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-12-03 0.228 4.531
2017-10-06 0.221 4.173
2017-09-05 0.221 4.434
2016-10-04 0.215 4.438
2016-09-06 0.215 4.349
2015-10-01 0.208 4.519
2015-09-08 0.208 4.435
2014-10-06 0.202 4.234
2014-09-03 0.202 4.504
2013-10-14 0.196 4.252
2013-09-04 0.196 4.312
2013-02-20 0.193 5.002
2012-10-03 0.191 5.292
2012-09-05 0.191 5.518
2011-09-07 0.185 5.541
2011-09-06 0.185 5.926
2010-09-08 0.180 5.935
2010-09-07 0.180 6.619
2009-09-09 0.177 6.049
2009-09-01 0.177 6.081
2009-04-20 0.177 7.066

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 A & J Mucklow Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess A & J Mucklow Group'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 A & J Mucklow Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. A & J Mucklow Group has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of A & J Mucklow Group'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
Rupert Mucklow
COMPENSATION £251,000
AGE 55
TENURE AS CEO 0.3 years
CEO Bio

Mr. Rupert Jeremy Mucklow, B.Sc., serves as the Executive Chairman and Managing Director since January 01, 2019 and served as Chairman until of A&J Mucklow Group plc. and has been its Director since 1995 and served as its Chief Executive Officer since January 1, 2019 until January 2019. Mr. Mucklow joined the firm in 1990 and was appointed as an Executive Director since 1995, Managing Director from 1996 to January 2004, Deputy Chairman since 2001 and Executive Chairman since 2004.

CEO Compensation
  • Rupert's compensation has been consistent with company performance over the past year.
  • Rupert's remuneration is lower 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 A & J Mucklow Group management team in years:

2.5
Average Tenure
55
Average Age
  • The tenure for the A & J Mucklow Group management team is about average.
Management Team

Rupert Mucklow

TITLE
Executive Chairman & CEO
COMPENSATION
£251K
AGE
55
TENURE
0.3 yrs

David Wooldridge

TITLE
Finance Director
COMPENSATION
£293K
AGE
47
TENURE
12.3 yrs

David Parker

TITLE
MD & Director
COMPENSATION
£388K
AGE
53
TENURE
0.3 yrs

Mark Vernon

TITLE
Director of Investment & Development
TENURE
2.2 yrs

Gemma Lane

TITLE
Company Accountant

Albert Mucklow

TITLE
Honorary President
COMPENSATION
£220K
AGE
82
TENURE
14.8 yrs

Stuart Haydon

TITLE
Portfolio Manager

Paul Ludlow

TITLE
Consultant
COMPENSATION
£36K
AGE
72
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the A & J Mucklow Group board of directors in years:

6.8
Average Tenure
55
Average Age
  • The tenure for the A & J Mucklow Group board of directors is about average.
Board of Directors

Rupert Mucklow

TITLE
Executive Chairman & CEO
COMPENSATION
£251K
AGE
55
TENURE
15.3 yrs

David Wooldridge

TITLE
Finance Director
COMPENSATION
£293K
AGE
47
TENURE
11.8 yrs

David Parker

TITLE
MD & Director
COMPENSATION
£388K
AGE
53
TENURE
0.3 yrs

Stephen Quentin Gilmore

TITLE
Independent Non-Executive Director
COMPENSATION
£38K
AGE
63
TENURE
10.9 yrs

Peter James Hartill

TITLE
Independent Non-Executive Director
COMPENSATION
£38K
AGE
68
TENURE
2.8 yrs

Ian Cornock

TITLE
Senior Independent Director
COMPENSATION
£38K
AGE
54

James Retallack

TITLE
Independent Non Executive Director
COMPENSATION
£3K
AGE
61
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Information is not available.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
26. Feb 19 Sell David Wooldridge Individual 26. Feb 19 26. Feb 19 -8,075 £5.01 £-40,456
26. Feb 19 Buy David Wooldridge Individual 26. Feb 19 26. Feb 19 8,075 £5.01 £40,486
X
Management checks
We assess A & J Mucklow Group'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. A & J Mucklow 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

Brief Commentary On A & J Mucklow Group Plc's (LON:MKLW) Fundamentals

Today I've chosen to put the spotlight on A & J Mucklow Group Plc (LON:MKLW) due to its excellent fundamentals in more than one area. … that has been able to sustain great financial health over the past … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

Did You Miss A & J Mucklow Group's (LON:MKLW) 14% Share Price Gain?

To wit, the A & J Mucklow Group share price has climbed 14% in five years, easily topping the market return of 3.1% (ignoring dividends). … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … Over half a decade, A & J Mucklow Group managed to grow its earnings per share at 19% a year.

Simply Wall St -

Should We Be Delighted With A & J Mucklow Group Plc's (LON:MKLW) ROE Of 20%?

Our data shows A & J Mucklow Group has a return on equity of 20% for the last year. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Investing In Property Through A & J Mucklow Group Plc (LON:MKLW)

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 … FFO is a cleaner and more representative figure of how much MKLW actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation … For MKLW, its FFO of UK£10m makes up 45% of its gross profit,

Simply Wall St -

Why A & J Mucklow Group Plc's (LON:MKLW) CEO Pay Matters To You

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does David Parker's Compensation Compare With Similar Sized Companies. … Our data indicates that A & J Mucklow Group Plc is worth UK£335m, and total annual CEO compensation is UK£388k.

Simply Wall St -

You Should Consider A & J Mucklow Group Plc (LON:MKLW) Because Of These Reasons

Attractive stocks have exceptional fundamentals. … In the case of A & J Mucklow Group Plc (LON:MKLW), there's … , dividend-paying company with a

Simply Wall St -

A & J Mucklow Group Plc (LON:MKLW): What You Have To Know Before Buying For The Upcoming Dividend

To qualify for the dividend check of £0.051 per share, investors must have owned the shares prior to 14 June 2018, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Below, I will explain how holding A & J Mucklow Group can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … Check out our latest analysis for A & J Mucklow Group?

Simply Wall St -

Did A & J Mucklow Group Plc (LON:MKLW) Create Value For Shareholders?

See our latest analysis for A & J Mucklow Group What you must know about ROE Return on Equity (ROE) is a measure of A & J Mucklow Group’s profit relative to its shareholders’ equity. … 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:MKLW Last Perf May 22nd 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management. … A & J Mucklow Group’s above-industry ROE is encouraging, and is also in excess of its cost of equity.

Simply Wall St -

At £5.52, Is A & J Mucklow Group Plc (LON:MKLW) A Buy?

A & J Mucklow Group Plc (LSE:MKLW), a reits company based in United Kingdom, saw a double-digit share price rise of over 10% in the past couple of months on the LSE. … The stock’s ratio of 6.93x is currently trading slightly below its industry peers’ ratio of 9.64x, which means if you buy A & J Mucklow Group today, you’d be paying a fair price for it. … MKLW’s future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

You May Have Been Looking At A & J Mucklow Group Plc (LON:MKLW) All Wrong

In this commentary, I'll take you through some of the things I look at when assessing MKLW. … The higher the coverage, the less risky MKLW is, broadly speaking, to have debt on its books. … The metric I'll be using, FFO-to-debt, also estimates the time it will take for the company to repay its debt with its FFO.

Simply Wall St -

Company Info

Description

A&J Mucklow Group Plc is a long established Midlands based property company focusing on the long term ownership and development of industrial and commercial property. Mucklow was founded in 1933 and floated on the London Stock Exchange in 1962. The company has always maintained an excellent reputation for providing a quality product and service to it's customers. The Group converted to a REIT in July 2007 and it's market specialisation is in the greater Midlands area. The Group's investment portfolio consists of 3.8m sq ft of modern,high quality property, with a value of around £433m, over 80% of which was located in the Midlands and occupied by over 200 companies.

Details
Name: A & J Mucklow Group Plc
MKLW
Exchange: LSE
Founded: 1933
£332,297,873
63,294,833
Website: http://www.mucklow.com
Address: A & J Mucklow Group Plc
60 Whitehall Road,
West Midlands,
Halesowen,
East Lothian, B63 3JS,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MKLW Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
DB OTT Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE MKLWL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
11
A & J Mucklow Group employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 20:43
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/02
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.