| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 3/6 |
| Dividends | 5/6 |
SAFE Overview
Safestore is the UK's largest self-storage group with 163 stores, comprising 125 wholly owned stores in the UK (including over 70 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool and Bristol), 28 wholly owned stores in the Paris region, 6 stores in the Netherlands and 4 stores within Barcelona, Spain.
Safestore Holdings Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | UK£11.08 |
| 52 Week High | UK£7.23 |
| 52 Week Low | UK£12.13 |
| Beta | 0.56 |
| 1 Month Change | -1.07% |
| 3 Month Change | 17.69% |
| 1 Year Change | 36.54% |
| 3 Year Change | 101.27% |
| 5 Year Change | 195.78% |
| Change since IPO | 367.51% |
Recent News & Updates
Shareholder Returns
| SAFE | GB REITs | GB Market | |
|---|---|---|---|
| 7D | -0.09% | -0.4% | -1.0% |
| 1Y | 36.5% | 29.4% | 19.2% |
Return vs Industry: SAFE exceeded the UK REITs industry which returned 29.4% over the past year.
Return vs Market: SAFE exceeded the UK Market which returned 19.2% over the past year.
Price Volatility
| SAFE volatility | |
|---|---|
| SAFE Beta | 0.56 |
| Industry Beta | 0.84 |
| Market Beta | 1 |
Stable Share Price: SAFE is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: SAFE's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1998 | 700 | Frederic Vecchioli | https://www.safestore.com |
Safestore is the UK's largest self-storage group with 163 stores, comprising 125 wholly owned stores in the UK (including over 70 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool and Bristol), 28 wholly owned stores in the Paris region, 6 stores in the Netherlands and 4 stores within Barcelona, Spain. Safestore was founded in the UK in 1998. It acquired the French business “Une Pièce en Plus” in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.
Safestore Holdings Fundamentals Summary
| SAFE fundamental statistics | |
|---|---|
| Market Cap | UK£2.34b |
| Earnings (TTM) | UK£246.80m |
| Revenue (TTM) | UK£171.10m |
9.5x
P/E Ratio13.7x
P/S RatioIs SAFE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| SAFE income statement (TTM) | |
|---|---|
| Revenue | UK£171.10m |
| Cost of Revenue | UK£56.50m |
| Gross Profit | UK£114.60m |
| Expenses | -UK£132.20m |
| Earnings | UK£246.80m |
Last Reported Earnings
Apr 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.17 |
| Gross Margin | 66.98% |
| Net Profit Margin | 144.24% |
| Debt/Equity Ratio | 40.1% |
How did SAFE perform over the long term?
See historical performance and comparisonDividends
1.8%
Current Dividend Yield46%
Payout RatioValuation
Is Safestore Holdings undervalued compared to its fair value and its price relative to the market?
9.46x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: SAFE (£11.08) is trading above our estimate of fair value (£9.8)
Significantly Below Fair Value: SAFE is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: SAFE is good value based on its PE Ratio (9.5x) compared to the UK REITs industry average (15.7x).
PE vs Market: SAFE is good value based on its PE Ratio (9.5x) compared to the UK market (23.5x).
Price to Earnings Growth Ratio
PEG Ratio: SAFE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: SAFE is overvalued based on its PB Ratio (2x) compared to the GB REITs industry average (0.9x).
Future Growth
How is Safestore Holdings forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
-24.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SAFE's earnings are forecast to decline over the next 3 years (-24.3% per year).
Earnings vs Market: SAFE's earnings are forecast to decline over the next 3 years (-24.3% per year).
High Growth Earnings: SAFE's earnings are forecast to decline over the next 3 years.
Revenue vs Market: SAFE's revenue (5.5% per year) is forecast to grow faster than the UK market (5% per year).
High Growth Revenue: SAFE's revenue (5.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SAFE's Return on Equity is forecast to be low in 3 years time (6.2%).
Past Performance
How has Safestore Holdings performed over the past 5 years?
19.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SAFE has a large one-off gain of £188.5M impacting its April 30 2021 financial results.
Growing Profit Margin: SAFE's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: SAFE's earnings have grown by 19.9% per year over the past 5 years.
Accelerating Growth: SAFE's earnings growth over the past year (31.8%) exceeds its 5-year average (19.9% per year).
Earnings vs Industry: SAFE earnings growth over the past year (31.8%) underperformed the REITs industry 46.5%.
Return on Equity
High ROE: SAFE's Return on Equity (21.2%) is considered high.
Financial Health
How is Safestore Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: SAFE's short term assets (£68.4M) exceed its short term liabilities (£68.1M).
Long Term Liabilities: SAFE's short term assets (£68.4M) do not cover its long term liabilities (£622.6M).
Debt to Equity History and Analysis
Debt Level: SAFE's debt to equity ratio (40.1%) is considered high.
Reducing Debt: SAFE's debt to equity ratio has reduced from 48.4% to 40.1% over the past 5 years.
Debt Coverage: SAFE's debt is not well covered by operating cash flow (17.9%).
Interest Coverage: SAFE's interest payments on its debt are well covered by EBIT (5.9x coverage).
Balance Sheet
Dividend
What is Safestore Holdings's current dividend yield, its reliability and sustainability?
1.82%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SAFE's dividend (1.82%) is higher than the bottom 25% of dividend payers in the UK market (1.34%).
High Dividend: SAFE's dividend (1.82%) is low compared to the top 25% of dividend payers in the UK market (3.92%).
Stability and Growth of Payments
Stable Dividend: SAFE's dividends per share have been stable in the past 10 years.
Growing Dividend: SAFE's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (46.4%), SAFE's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SAFE's dividends in 3 years are forecast to be covered by earnings (63.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.3yrs
Average management tenure
CEO
Frederic Vecchioli (55 yo)
8yrs
Tenure
UK£1,108,000
Compensation
Mr. Frederic Vecchioli serves as the Chief Executive Officer and Director of Safestore Limited. Mr. Vecchioli has been the Chief Executive Officer of Safestore Holdings plc since September 4, 2013 and has...
CEO Compensation Analysis
Compensation vs Market: Frederic's total compensation ($USD1.52M) is about average for companies of similar size in the UK market ($USD1.66M).
Compensation vs Earnings: Frederic's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: SAFE's management team is seasoned and experienced (8.3 years average tenure).
Board Members
Experienced Board: SAFE's board of directors are considered experienced (5.8 years average tenure).
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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Safestore Holdings plc's employee growth, exchange listings and data sources
Key Information
- Name: Safestore Holdings plc
- Ticker: SAFE
- Exchange: LSE
- Founded: 1998
- Industry: Specialized REITs
- Sector: Real Estate
- Market Cap: UK£2.336b
- Shares outstanding: 210.79m
- Website: https://www.safestore.com
Number of Employees
Location
- Safestore Holdings plc
- Brittanic House
- Stirling Way
- Borehamwood
- Hertfordshire
- WD6 2BT
- United Kingdom
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/09/18 17:35 |
| End of Day Share Price | 2021/09/17 00:00 |
| Earnings | 2021/04/30 |
| Annual Earnings | 2020/10/31 |
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.