St. Modwen Properties
Market Cap
UK£996.2m
Last Updated
2019/12/08 20:33 UTC
Data Sources
Company Financials +
Executive Summary
St. Modwen Properties PLC invests in, develops, operates, and manages residential and commercial properties in the United Kingdom.
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and good value.
Similar Companies
Share Price & News
How has St. Modwen Properties's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SMP has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.6%
SMP
1.6%
GB Real Estate
-0.8%
GB Market
1 Year Return
16.8%
SMP
24.1%
GB Real Estate
8.5%
GB Market
Return vs Industry: SMP underperformed the UK Real Estate industry which returned 24.1% over the past year.
Return vs Market: SMP exceeded the UK Market which returned 8.5% over the past year.
Shareholder returns
| SMP | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.6% | 1.6% | -0.8% |
| 30 Day | 2.4% | 5.7% | -0.3% |
| 90 Day | 12.2% | 10.0% | 2.1% |
| 1 Year | 19.1%16.8% | 27.4%24.1% | 14.1%8.5% |
| 3 Year | 60.0%51.3% | 1.9%-5.7% | 19.2%4.0% |
| 5 Year | 36.9%25.5% | 30.1%15.2% | 41.8%9.5% |
Price Volatility Vs. Market
How volatile is St. Modwen Properties's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 days ago | Simply Wall St
Should You Be Tempted To Sell St. Modwen Properties PLC (LON:SMP) Because Of Its P/E Ratio?2 weeks ago | Simply Wall St
What Did St. Modwen Properties PLC's (LON:SMP) CEO Take Home Last Year?1 month ago | Simply Wall St
St. Modwen Properties PLC (LON:SMP) Delivered A Weaker ROE Than Its IndustryValuation
Is St. Modwen Properties undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SMP (£4.65) is trading below our estimate of fair value (£16.11)
Significantly Below Fair Value: SMP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SMP is poor value based on its PE Ratio (16.4x) compared to the Real Estate industry average (14.4x).
PE vs Market: SMP is good value based on its PE Ratio (16.4x) compared to the UK market (17.3x).
Price to Earnings Growth Ratio
PEG Ratio: SMP is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: SMP is good value based on its PB Ratio (1x) compared to the GB Real Estate industry average (1.1x).
Next Steps
Future Growth
How is St. Modwen Properties forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
16.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SMP's forecast earnings growth (16% per year) is above the savings rate (0.5%).
Earnings vs Market: SMP's earnings (16% per year) are forecast to grow faster than the UK market (12.4% per year).
High Growth Earnings: SMP's earnings are forecast to grow, but not significantly.
Revenue vs Market: SMP's revenue is expected to decline over the next 3 years (-26.4% per year).
High Growth Revenue: SMP's revenue is forecast to decline over the next 3 years (-26.4% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SMP's Return on Equity is forecast to be low in 3 years time (4.2%).
Next Steps
Past Performance
How has St. Modwen Properties performed over the past 5 years?
-25.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SMP has a large one-off gain of £16.2M impacting its May 31 2019 financial results.
Growing Profit Margin: SMP's current net profit margins (15.9%) are higher than last year (14.1%).
Past Earnings Growth Analysis
Earnings Trend: SMP's earnings have declined by -25.3% per year over the past 5 years.
Accelerating Growth: SMP's earnings growth over the past year (17%) exceeds its 5-year average (-25.3% per year).
Earnings vs Industry: SMP earnings growth over the past year (17%) exceeded the Real Estate industry 2.2%.
Return on Equity
High ROE: SMP's Return on Equity (5.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is St. Modwen Properties's financial position?
Financial Position Analysis
Short Term Liabilities: SMP's short term assets (£483.9M) exceed its short term liabilities (£142.9M).
Long Term Liabilities: SMP's short term assets (£483.9M) exceed its long term liabilities (£403.1M).
Debt to Equity History and Analysis
Debt Level: SMP's debt to equity ratio (33.2%) is considered satisfactory.
Reducing Debt: SMP's debt to equity ratio has reduced from 55.8% to 33.2% over the past 5 years.
Debt Coverage: SMP's debt is not well covered by operating cash flow (4.1%).
Interest Coverage: SMP's interest payments on its debt are well covered by EBIT (6.5x coverage).
Balance Sheet
Inventory Level: SMP has a high level of physical assets or inventory.
Debt Coverage by Assets: SMP's debt is covered by short term assets (assets are 1.4x debt).
Next Steps
Dividend
What is St. Modwen Properties's current dividend yield, its reliability and sustainability?
1.53%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: SMP's dividend (1.53%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.96%).
High Dividend: SMP's dividend (1.53%) is low compared to the top 25% of dividend payers in the UK market (5.25%).
Stability and Growth of Payments
Stable Dividend: SMP has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: SMP's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (26.9%), SMP's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SMP's dividends in 3 years are forecast to be covered by earnings (50% payout ratio).
Next Steps
Management
What is the CEO of St. Modwen Properties's salary, the management and board of directors tenure and is there insider trading?
2.9yrs
Average management tenure
CEO
Mark Allan (47yo)
3yrs
Tenure
UK£2,434,000
Compensation
Mr. Mark Christopher Allan has been Chief Executive Officer and Director at St Modwen Properties since December 1, 2016. Mr. Allan served as Chief Executive at The Unite Group plc since 2006. He moved to U ...
CEO Compensation Analysis
Compensation vs Market: Mark's total compensation ($USD3.19M) is above average for companies of similar size in the UK market ($USD1.85M).
Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.
Management Age and Tenure
2.9yrs
Average Tenure
Experienced Management: SMP's management team is considered experienced (2.9 years average tenure).
Board Age and Tenure
2.1yrs
Average Tenure
54.5yo
Average Age
Experienced Board: SMP's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Executive Officer CEO & Director |
| Shares | 36,178 |
| Max Price | UK£4.13 |
| Entity | Individual |
| Role | Member of the Board of Directors CFO & Executive Director |
| Shares | 22,270 |
| Max Price | UK£4.04 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Mark Allan (47yo)
CEO & Director
- Tenure: 3yrs
- Compensation: UK£2.43m
Jane Saint
Group HR Director
- Tenure: 2.9yrs
Dave Smith
Managing Director of St. Modwen Homes
- Tenure: 4.1yrs
Andrew Eames
General Counsel & Company Secretary
- Tenure: 2.1yrs
Rob Hudson (45yo)
CFO & Executive Director
- Tenure: 4.3yrs
- Compensation: UK£961.00k
Rebecca Cooke
Head of Internal Audit
- Tenure: 3yrs
Kathryn Edwards
Interim Head of Corporate Communications
- Tenure: 0yrs
David Binks
Head of Leasing
- Tenure: 1.6yrs
Rob Flavell
Head of Major Projects of Midlands & North
- Tenure: 1.3yrs
Ian Romano
Head of Commercial of Midlands & North
- Tenure: 1.3yrs
Board Members
Danuta Gray (61yo)
Non-executive Chairman
- Tenure: 0.8yrs
- Compensation: UK£28.00k
Mark Allan (47yo)
CEO & Director
- Tenure: 3yrs
- Compensation: UK£2.43m
Sarah Whitney (56yo)
Independent Non-Executive Director
- Tenure: 0.3yrs
Simon Clarke (53yo)
Non-Executive Director
- Tenure: 15.2yrs
- Compensation: UK£46.00k
Jenefer Greenwood (61yo)
Independent Non-Executive Director
- Tenure: 2.5yrs
- Compensation: UK£52.00k
Ian Bull (58yo)
Senior Independent Director
- Tenure: 1.8yrs
- Compensation: UK£61.00k
Jamie Hopkins (51yo)
Non-Executive Director
- Tenure: 1.8yrs
- Compensation: UK£34.00k
Rob Hudson (45yo)
CFO & Executive Director
- Tenure: 4.3yrs
- Compensation: UK£961.00k
Company Information
St. Modwen Properties PLC's company bio, employee growth, exchange listings and data sources
Key Information
- Name: St. Modwen Properties PLC
- Ticker: SMP
- Exchange: LSE
- Founded: 1986
- Industry: Real Estate Development
- Sector: Real Estate
- Market Cap: UK£996.179m
- Shares outstanding: 222.11m
- Website: https://www.stmodwen.co.uk
Number of Employees
Location
- St. Modwen Properties PLC
- Park Point
- 17 High Street
- Birmingham
- West Midlands
- B31 2UQ
- United Kingdom
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SMP | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
| SMPL | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | GBP | Jan 1992 |
| STMW.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
Biography
St. Modwen Properties PLC invests in, develops, operates, and manages residential and commercial properties in the United Kingdom. It develops land for residential, employment, leisure, retail, and educati ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/08 20:33 |
| End of Day Share Price | 2019/12/06 00:00 |
| Earnings | 2019/05/31 |
| Annual Earnings | 2018/11/30 |
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.