SEGRO
- Home ›
- GB ›
- Real Estate
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. The last earnings update was 75 days ago. More info.
Add to Portfolio Compare Print
SGRO Share Price and Events
7 Day Returns
1 Year Returns
SGRO Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| SEGRO (SGRO) | 3.9% | 6.4% | 11.3% | 10.7% | 67% | 98.8% |
| GB REITs | 0% | 0.2% | 1.9% | -6.7% | -5.9% | 5.9% |
| GB Market | 1.3% | -1.6% | 1.9% | -5% | 15.8% | 2.5% |
1 Year Return vs Industry and Market
- SGRO outperformed the REITs industry which returned -6.7% over the past year.
- SGRO outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5% over the past year.
Value
Is SEGRO 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
SEGRO
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 SEGRO.
| 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 11 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 | 0.52 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.523 (1 + (1- 19%) (29.05%)) |
0.763 |
| 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:SGRO using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for SEGRO 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.
SEGRO 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 | 237.40 | Analyst x1 | 222.81 |
| 2020 | 259.70 | Analyst x1 | 228.76 |
| 2021 | 282.40 | Analyst x1 | 233.48 |
| 2022 | 300.55 | Est @ 6.43% | 233.21 |
| 2023 | 315.17 | Est @ 4.87% | 229.53 |
| 2024 | 327.06 | Est @ 3.77% | 223.56 |
| 2025 | 336.91 | Est @ 3.01% | 216.13 |
| 2026 | 345.25 | Est @ 2.48% | 207.87 |
| 2027 | 352.50 | Est @ 2.1% | 199.20 |
| 2028 | 358.98 | Est @ 1.84% | 190.40 |
| Present value of next 10 years cash flows | £2,184.95 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £358.98 × (1 + 1.23%) ÷ (6.55% – 1.23%) |
£6,830.57 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £6,830.57 ÷ (1 + 6.55%)10 |
£3,622.81 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £2,184.95 + £3,622.81 |
£5,807.76 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £5,807.76 / 1,083.83 |
£5.36 |
| Calculation | Result | |
|---|---|---|
| Value per share (GBP) | From above. | £5.36 |
| Current discount | Discount to share price of
£7.13
= -1 x (£7.13 - £5.36) / £5.36 |
-33% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of SEGRO is above its future cash flow value.
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 SEGRO's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
SEGRO'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 (2018-12-31) in GBP | £1.05 |
| LSE:SGRO Share Price ** | LSE (2019-05-17) in GBP | £7.13 |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PE Ratio | Median Figure of 44 Publicly-Listed REITs Companies | 12.21x |
| United Kingdom of Great Britain and Northern Ireland Market PE Ratio | Median Figure of 790 Publicly-Listed Companies | 16.24x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of SEGRO.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:SGRO Share Price ÷ EPS (both in GBP) = 7.13 ÷ 1.05 |
6.76x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SEGRO is good value based on earnings compared to the GB REITs industry average.
- SEGRO is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does
SEGRO's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 6.76x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
-24.3%per year |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PEG Ratio | Median Figure of 25 Publicly-Listed REITs Companies | -0.28x |
| United Kingdom of Great Britain and Northern Ireland Market PEG Ratio | Median Figure of 573 Publicly-Listed Companies | 1.5x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 6.76x ÷ -24.3% |
-0.28x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SEGRO earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
SEGRO's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in GBP | £6.48 |
| LSE:SGRO Share Price * | LSE (2019-05-17) in GBP | £7.13 |
| United Kingdom of Great Britain and Northern Ireland REITs Industry PB Ratio | Median Figure of 54 Publicly-Listed REITs Companies | 0.93x |
| United Kingdom of Great Britain and Northern Ireland Market PB Ratio | Median Figure of 1,368 Publicly-Listed Companies | 1.51x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:SGRO Share Price ÷ Book Value per Share (both in GBP) = 7.13 ÷ 6.48 |
1.1x |
* Primary Listing of SEGRO.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- SEGRO is overvalued based on assets compared to the GB REITs industry average.
Value checks
We assess SEGRO'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) SEGRO 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 SEGRO expected to perform in the next 1 to 3 years based on estimates from 11 analysts?
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
- SEGRO'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
- SEGRO'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.
- SEGRO'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:SGRO Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | -24.3% |
| LSE:SGRO Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 9.4% |
| United Kingdom of Great Britain and Northern Ireland REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 18% |
| United Kingdom of Great Britain and Northern Ireland REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 2.1% |
| United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate | Market Cap Weighted Average | 10.8% |
| United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*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 (4 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 589 | 70 | 1 | |
| 2022-12-31 | 545 | 482 | 1 | |
| 2021-12-31 | 457 | 327 | 640 | 5 |
| 2020-12-31 | 430 | 297 | 731 | 6 |
| 2019-12-31 | 402 | 262 | 861 | 5 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 343 | 200 | 1,063 |
| 2018-09-30 | 325 | 90 | 1,093 |
| 2018-06-30 | 307 | -20 | 1,124 |
| 2018-03-31 | 302 | -22 | 1,038 |
| 2017-12-31 | 297 | -24 | 953 |
| 2017-09-30 | 283 | 49 | 781 |
| 2017-06-30 | 268 | 122 | 609 |
| 2017-03-31 | 256 | 112 | 514 |
| 2016-12-31 | 244 | 101 | 418 |
| 2016-09-30 | 242 | 94 | 482 |
| 2016-06-30 | 240 | 86 | 547 |
| 2016-03-31 | 234 | 87 | 615 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
All data from SEGRO Company Filings, last reported 4 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 |
|---|---|---|---|---|
| 2023-12-31 | 0.07 | 0.07 | 0.07 | 1.00 |
| 2022-12-31 | 0.17 | 0.17 | 0.17 | 1.00 |
| 2021-12-31 | 0.59 | 0.71 | 0.50 | 5.00 |
| 2020-12-31 | 0.75 | 1.04 | 0.59 | 6.00 |
| 2019-12-31 | 0.87 | 1.02 | 0.65 | 6.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-12-31 | 1.05 |
| 2018-09-30 | 1.09 |
| 2018-06-30 | 1.12 |
| 2018-03-31 | 1.05 |
| 2017-12-31 | 0.98 |
| 2017-09-30 | 0.86 |
| 2017-06-30 | 0.72 |
| 2017-03-31 | 0.63 |
| 2016-12-31 | 0.54 |
| 2016-09-30 | 0.63 |
| 2016-06-30 | 0.72 |
| 2016-03-31 | 0.81 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess SEGRO'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)
SEGRO has a total score of 1/6, 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 SEGRO 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
- SEGRO's year on year earnings growth rate has been positive over the past 5 years.
- SEGRO's 1-year earnings growth is less than its 5-year average (11.5% vs 18.6%)
- SEGRO's earnings growth has exceeded the GB REITs industry average in the past year (11.5% vs 9.5%).
Earnings and Revenue History
All data from SEGRO Company Filings, last reported 4 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 |
|---|---|---|---|---|
| 2018-12-31 | 342.60 | 1,062.60 | 43.20 | |
| 2018-09-30 | 324.90 | 1,093.40 | 42.45 | |
| 2018-06-30 | 307.20 | 1,124.20 | 41.70 | |
| 2018-03-31 | 302.20 | 1,038.45 | 40.05 | |
| 2017-12-31 | 297.20 | 952.70 | 38.40 | |
| 2017-09-30 | 282.65 | 781.00 | 35.40 | |
| 2017-06-30 | 268.10 | 609.30 | 32.40 | |
| 2017-03-31 | 256.10 | 513.50 | 31.45 | |
| 2016-12-31 | 244.10 | 417.70 | 30.50 | |
| 2016-09-30 | 241.85 | 482.10 | 30.55 | |
| 2016-06-30 | 239.60 | 546.50 | 30.60 | |
| 2016-03-31 | 233.65 | 614.50 | 29.65 | |
| 2015-12-31 | 227.70 | 682.50 | 28.70 | |
| 2015-09-30 | 224.80 | 738.15 | 28.15 | |
| 2015-06-30 | 221.90 | 793.80 | 27.60 | |
| 2015-03-31 | 224.40 | 737.90 | 26.90 | |
| 2014-12-31 | 226.90 | 682.00 | 26.20 | |
| 2014-09-30 | 237.05 | 547.20 | 26.00 | |
| 2014-06-30 | 247.20 | 412.40 | 25.80 | |
| 2014-03-31 | 264.05 | 311.50 | 26.10 | |
| 2013-12-31 | 280.90 | 210.60 | 26.40 | |
| 2013-09-30 | 290.25 | 55.00 | 26.60 | |
| 2013-06-30 | 299.60 | -100.60 | 26.80 | |
| 2013-03-31 | 306.20 | -148.95 | 27.20 | |
| 2012-12-31 | 312.80 | -197.30 | 27.60 | |
| 2012-09-30 | 320.65 | -185.85 | 28.20 | |
| 2012-06-30 | 328.50 | -174.40 | 28.80 |
*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.
- SEGRO has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- SEGRO used its assets more efficiently than the GB REITs industry average last year based on Return on Assets.
- SEGRO's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess SEGRO'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)
SEGRO 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 SEGRO'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 SEGRO's finances.
The net worth of a company is the difference between its assets and liabilities.
- SEGRO's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- SEGRO's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- 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 SEGRO Company Filings, last reported 4 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 6,564.00 | 2,243.50 | 75.80 |
| 2018-09-30 | 6,564.00 | 2,243.50 | 75.80 |
| 2018-06-30 | 6,077.40 | 2,155.50 | 40.60 |
| 2018-03-31 | 6,077.40 | 2,155.50 | 40.60 |
| 2017-12-31 | 5,584.20 | 2,063.50 | 109.30 |
| 2017-09-30 | 5,584.20 | 2,063.50 | 109.30 |
| 2017-06-30 | 5,052.10 | 1,813.70 | 62.80 |
| 2017-03-31 | 5,052.10 | 1,813.70 | 62.80 |
| 2016-12-31 | 4,180.90 | 1,645.10 | 43.10 |
| 2016-09-30 | 4,180.90 | 1,645.10 | 43.10 |
| 2016-06-30 | 3,647.50 | 1,739.50 | 10.90 |
| 2016-03-31 | 3,647.50 | 1,739.50 | 10.90 |
| 2015-12-31 | 3,488.10 | 1,824.00 | 16.40 |
| 2015-09-30 | 3,488.10 | 1,824.00 | 16.40 |
| 2015-06-30 | 3,160.10 | 1,802.10 | 24.90 |
| 2015-03-31 | 3,160.10 | 1,802.10 | 24.90 |
| 2014-12-31 | 2,888.80 | 1,727.90 | 75.20 |
| 2014-09-30 | 2,888.80 | 1,727.90 | 75.20 |
| 2014-06-30 | 2,480.70 | 1,693.60 | 23.70 |
| 2014-03-31 | 2,480.70 | 1,693.60 | 23.70 |
| 2013-12-31 | 2,344.90 | 1,704.00 | 247.60 |
| 2013-09-30 | 2,344.90 | 1,704.00 | 247.60 |
| 2013-06-30 | 2,198.70 | 2,144.60 | 12.30 |
| 2013-03-31 | 2,198.70 | 2,144.60 | 12.30 |
| 2012-12-31 | 2,236.60 | 2,149.50 | 16.60 |
| 2012-09-30 | 2,236.60 | 2,149.50 | 16.60 |
| 2012-06-30 | 2,386.60 | 2,081.60 | 13.10 |
- SEGRO's level of debt (34.2%) 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 (72.6% vs 34.2% today).
- Debt is not well covered by operating cash flow (8.9%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.3x coverage).
Financial health checks
We assess SEGRO'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) SEGRO has a total score of 3/6, 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 SEGRO'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
SEGRO
shares you are expected to receive
£53
in your first year as a dividend.
Dividend Amount
- SEGRO's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.99%).
- SEGRO's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.21%).
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 11 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 | 4.3% |
| 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 | 5.2% |
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 |
|---|---|---|
| 2023-12-31 | 0.28 | 2.00 |
| 2022-12-31 | 0.26 | 3.00 |
| 2021-12-31 | 0.23 | 15.00 |
| 2020-12-31 | 0.21 | 18.00 |
| 2019-12-31 | 0.20 | 18.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-28 | 0.188 | 2.757 |
| 2018-08-23 | 0.169 | 2.675 |
| 2018-02-23 | 0.166 | 2.592 |
| 2018-02-16 | 0.166 | 2.841 |
| 2017-07-27 | 0.165 | 2.990 |
| 2017-03-30 | 0.164 | 3.344 |
| 2016-04-04 | 0.156 | 3.548 |
| 2015-04-29 | 0.151 | 3.547 |
| 2014-03-18 | 0.148 | 3.937 |
| 2014-02-26 | 0.148 | 4.230 |
| 2013-03-01 | 0.148 | 4.919 |
| 2012-02-21 | 0.148 | 6.317 |
| 2011-08-23 | 0.145 | 6.481 |
| 2011-03-21 | 0.143 | 4.697 |
| 2011-02-24 | 0.143 | 4.510 |
| 2010-03-01 | 0.140 | 4.814 |
| 2010-02-25 | 0.140 | 4.362 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, SEGRO has been paying a dividend for less than 10 years.
- Dividend payments have increased, but SEGRO only paid a dividend in the past 9 years.
Income/ dividend checks
We assess SEGRO's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 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 SEGRO afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) SEGRO 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 | £3,596,000 |
| AGE | 57 |
| TENURE AS CEO | 8.1 years |
CEO Bio
Mr. David J. R. Sleath has been the Chief Executive Officer at SEGRO Plc since April 28, 2011. Mr. Sleath served as Finance Director of SEGRO Plc (Slough Estates Plc) since January 1, 2006. He has extensive experience of financial reporting, corporate finance and risk management. He served as Deputy Finance Director of SEGRO Plc from April 2005 to January 1, 2006. He served as the Group Finance Director of Wagon Plc until March 2005 and its Executive Director from May 1999 to March 2005. Prior to joining Wagon in 1999, Mr. Sleath spent 17 years with Arthur Andersen, where he served as its partner in the corporate Finance Department from 1992 to 1995 and Head of the Assurance Practice for the Midlands Region since 1995. He served with Arthur Andersen from 1982 to 1999. Mr. Sleath serves as the Chairman of the Board at Guildhall Property Co. PLC. He has been an Executive Director of SEGRO Plc since January 1, 2006. He served as a Non Executive Director of Bunzl PLC since September 1, 2007 until April 19, 2017 and served as its Senior Independent Director since April 16, 2015 until April 19, 2017. He was a Board member of the European Public Real Estate Association from 2011 until 2017, and President of the British Property Federation 2016-17. He is a Fellow of the Institute of Chartered Accountants in England and Wales and Member of the Securities Institute. He is a graduate of Warwick Business School.
CEO Compensation
- David John's compensation has been consistent with company performance over the past year.
- David John's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure
Average tenure and age of the SEGRO management team in years:
- The average tenure for the SEGRO management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
David John Sleath
CEO & Executive Director
£4M
57
8.1 yrs
Soumen Das
CFO & Executive Director
£2M
41
2.3 yrs
Andy Gulliford
COO & Executive Director
£2M
55
7.5 yrs
Phil Redding
Chief Investment Officer & Executive Director
£2M
49
7.5 yrs
James Power
Director of Digital & Technology
Harry Stokes
Commercial Finance Director and Head of Investor Relations & Research
Elizabeth Blease
General Counsel & Group Company Secretary
51
Lizzie Humphreys
External Communications Manager
Nick Hughes
Director of Marketing & Communications
5.6 yrs
Liz Reilly
Group Human Resouse Director
54
Board of Directors Tenure
Average tenure and age of the SEGRO board of directors in years:
- The tenure for the SEGRO board of directors is about average.
Board of Directors
Gerald Michael Corbett
Chairman of the Board
£250K
67
3.1 yrs
David John Sleath
CEO & Executive Director
£4M
57
13.3 yrs
Soumen Das
CFO & Executive Director
£2M
41
2.3 yrs
Andy Gulliford
COO & Executive Director
£2M
55
6 yrs
Phil Redding
Chief Investment Officer & Executive Director
£2M
49
6 yrs
Christopher Fisher
Independent Non Executive Director
£75K
64
6.6 yrs
Carol Fairweather
Independent Non Executive Director
£60K
57
1.3 yrs
Martin Moore
Senior Independent Non-Executive Director
£70K
61
1.1 yrs
Doug Webb
Independent Non-Executive Director
£75K
57
9 yrs
Sue Clayton
Independent Non-Executive Director
£35K
60
0.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (£) | Value (£) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess SEGRO'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) SEGRO 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
I Built A List Of Growing Companies And SEGRO (LON:SGRO) Made The Cut
In the age of tech-stock blue-sky investing, my choice may seem old fashioned; I still prefer profitable companies like SEGRO (LON:SGRO). … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth. … SEGRO shareholders can take confidence from the fact that EBIT margins are up from 69% to 73%, and revenue is growing.
Simply Wall St - – Full articleCan SEGRO Plc (LON:SGRO) Maintain Its Strong Returns?
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every £1 worth of equity in the company, it was able to earn £0.16. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHere's What We Think About SEGRO Plc's (LON:SGRO) CEO Pay
This analysis aims first to contrast CEO compensation with other large companies. … At the time of writing our data says that SEGRO Plc has a market cap of UK£7.4b, and is paying total annual CEO compensation of UK£3.6m. … We looked at a group of companies with market capitalizations over UK£6.1b and the median CEO total compensation was UK£3.7m
Simply Wall St - – Full articleIf You Had Bought SEGRO Shares Five Years Ago You'd Have Made 86%
To wit, the SEGRO share price has climbed 86% in five years, easily topping the market return of -0.8% (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, SEGRO managed to grow its earnings per share at 30% a year.
Simply Wall St - – Full articleSEGRO Plc (LON:SGRO): The Yield That Matters The Most
I will take you through SEGRO’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … SEGRO generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating … What remains after this expenditure, is known as its free cash flow, or FCF, for short.
Simply Wall St - – Full articleRead This Before Selling SEGRO Plc (LON:SGRO) Shares
So before you buy or sell SEGRO Plc (LON:SGRO), you may well want to know whether insiders have been buying or selling. … SEGRO Insider Transactions Over The Last Year. … That means that an insider was happy to buy shares at around the current price.
Simply Wall St - – Full articleIs SEGRO Plc's (LON:SGRO) 19% Better Than Average?
This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.19 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Worry About SEGRO Plc's (LON:SGRO) CEO Salary Level?
First, this article will compare CEO compensation with compensation at similar sized companies. … How Does David John Sleath's Compensation Compare With Similar Sized Companies. … Thus we can conclude that David John Sleath receives more in total compensation than the median of a group of companies in the same market, and of similar size to SEGRO Plc
Simply Wall St - – Full articleSEGRO Plc (LON:SGRO): Set To Experience A Decrease In Earnings?
In December 2017, SEGRO Plc (LON:SGRO) announced its most recent earnings update, whicha … suggested … company
Simply Wall St - – Full articleShould You Expect SEGRO Plc (LON:SGRO) To Continue Delivering An ROE Of 17.13%?
and want to better understand how you can grow your money by investing in SEGRO Plc (LON:SGRO). … With an ROE of 17.13%, SEGRO Plc (LON:SGRO) outpaced its own industry which delivered a less exciting 9.14% over the past year. … With more debt, SGRO can invest even more and earn more money, thus pushing up its returns.
Simply Wall St - – Full articleCompany Info
Description
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 7 million square metres of space (75 million square feet) valued at £11 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in eight other European countries.
Details
| Name: | SEGRO Plc |
| SGRO | |
| Exchange: | LSE |
| Founded: | 1920 |
| £7,723,401,098 | |
| 1,083,834,002 | |
| Website: | http://www.segro.com |
| Address: |
SEGRO Plc Cunard House, 15 Regent Street, London, East Lothian, SW1Y 4LR, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | SGRO | Ordinary Shares | London Stock Exchange | GB | GBP | 02. Jan 1992 | |
| OTCPK | SEGX.F | Ordinary Shares | Pink Sheets LLC | US | USD | 02. Jan 1992 | |
| DB | S4VC | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 02. Jan 1992 | |
| BATS-CHIXE | SGROL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 02. Jan 1992 |
Number of employees
Current staff
Industry
| Industrial REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/18 21:37 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/13 |
| Last earnings filing: | 2019/03/04 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
