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FairFX Group

AIM:FFX
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FFX
AIM
£164M
Market Cap
  1. Home
  2. GB
  3. Software
Company description

FairFX Group Plc, through its subsidiaries, primarily provides foreign exchange payment services to private clients and corporations through prepaid currency cards, travel cash, and international money transfers in the United Kingdom. The last earnings update was 205 days ago. More info.


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FFX Share Price and Events
7 Day Returns
-2.1%
AIM:FFX
1.9%
GB IT
1.9%
GB Market
1 Year Returns
-0.2%
AIM:FFX
0.1%
GB IT
2.5%
GB Market
FFX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FairFX Group (FFX) -2.1% -5.4% -17% -0.2% 200.9% -
GB IT 1.9% 6.2% 14% 0.1% 54.4% -7.2%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • FFX underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
FFX
Industry
5yr Volatility vs Market

FFX Value

 Is FairFX 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 FairFX 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 FairFX Group.

AIM:FFX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
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 AIM:FFX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 19%) (0%))
1.036
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.04
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.036 * 6.65%)
8.12%

Discounted Cash Flow Calculation for AIM:FFX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for FairFX 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.

AIM:FFX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 8.12%)
2019 100.59 Est @ 100.67% 93.03
2020 171.84 Est @ 70.84% 147.00
2021 257.68 Est @ 49.95% 203.88
2022 348.73 Est @ 35.34% 255.20
2023 436.28 Est @ 25.1% 295.29
2024 514.55 Est @ 17.94% 322.11
2025 581.06 Est @ 12.93% 336.43
2026 635.77 Est @ 9.42% 340.46
2027 680.02 Est @ 6.96% 336.81
2028 715.65 Est @ 5.24% 327.84
Present value of next 10 years cash flows £2,658.05
AIM:FFX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £715.65 × (1 + 1.23%) ÷ (8.12% – 1.23%)
£10,510.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £10,510.51 ÷ (1 + 8.12%)10
£4,814.86
AIM:FFX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £2,658.05 + £4,814.86
£7,472.91
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £7,472.91 / 162.87
£45.88
AIM:FFX Discount to Share Price
Calculation Result
Value per share (GBP) From above. £45.88
Current discount Discount to share price of £1.01
= -1 x (£1.01 - £45.88) / £45.88
97.8%

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

Current Discount
Amount off the current price FairFX Group is available for.
Intrinsic value
>50%
Share price is £1.01 vs Future cash flow value of £45.88
Current Discount Checks
For FairFX Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • FairFX Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • FairFX Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for FairFX Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FairFX Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:FFX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in GBP £0.02
AIM:FFX Share Price ** AIM (2019-04-18) in GBP £1.01
United Kingdom of Great Britain and Northern Ireland IT Industry PE Ratio Median Figure of 24 Publicly-Listed IT Companies 27.11x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

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

** Primary Listing of FairFX Group.

AIM:FFX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:FFX Share Price ÷ EPS (both in GBP)

= 1.01 ÷ 0.02

60.9x

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

  • FairFX Group is overvalued based on earnings compared to the GB IT industry average.
  • FairFX Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does FairFX Group's expected growth come at a high price?
Raw Data
AIM:FFX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 60.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
55.9%per year
United Kingdom of Great Britain and Northern Ireland IT Industry PEG Ratio Median Figure of 17 Publicly-Listed IT Companies 1.5x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

AIM:FFX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 60.9x ÷ 55.9%

1.09x

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

  • FairFX Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on FairFX Group's assets?
Raw Data
AIM:FFX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in GBP £0.24
AIM:FFX Share Price * AIM (2019-04-18) in GBP £1.01
United Kingdom of Great Britain and Northern Ireland IT Industry PB Ratio Median Figure of 45 Publicly-Listed IT Companies 3.76x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
AIM:FFX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:FFX Share Price ÷ Book Value per Share (both in GBP)

= 1.01 ÷ 0.24

4.22x

* Primary Listing of FairFX Group.

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

  • FairFX Group is overvalued based on assets compared to the GB IT industry average.
X
Value checks
We assess FairFX 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 IT 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 IT industry average (and greater than 0)? (1 check)
  5. FairFX 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.

FFX Future Performance

 How is FairFX Group expected to perform in the next 1 to 3 years based on estimates from 2 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!
Annual Growth Rate
55.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FairFX Group expected to grow at an attractive rate?
  • FairFX Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • FairFX Group's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • FairFX Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:FFX Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:FFX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 55.9%
AIM:FFX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 30.2%
United Kingdom of Great Britain and Northern Ireland IT Industry Earnings Growth Rate Market Cap Weighted Average 14.4%
United Kingdom of Great Britain and Northern Ireland IT Industry Revenue Growth Rate Market Cap Weighted Average 9.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
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
AIM:FFX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 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.
AIM:FFX Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 45 26 13 2
2019-12-31 33 18 9 2
2018-12-31 26 20 5 2
AIM:FFX Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-06-30 21 50 2
2018-03-31 18 41 1
2017-12-31 15 32 0
2017-09-30 14 15 0
2017-06-30 12 -2 0
2017-03-31 11 -1 -1
2016-12-31 10 0 -1
2016-09-30 10 -2
2016-06-30 9 -3 -2
2016-03-31 8 -3 -3
2015-12-31 8 -2 -3
2015-09-30 7 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FairFX Group's earnings are expected to grow significantly at over 20% yearly.
  • FairFX Group's revenue is expected to grow significantly at over 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
AIM:FFX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from FairFX Group Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FFX Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.08 0.08 0.08 1.00
2019-12-31 0.06 0.06 0.06 1.00
2018-12-31 0.03 0.03 0.03 1.00
AIM:FFX Past Financials Data
Date (Data in GBP Millions) EPS *
2018-06-30 0.02
2018-03-31 0.01
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 -0.01
2016-12-31 -0.01
2016-09-30 -0.02
2016-06-30 -0.03
2016-03-31 -0.04
2015-12-31 -0.05
2015-09-30 -0.06

*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 FairFX Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess FairFX 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.
FairFX Group has a total score of 5/6, 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.

FFX Past Performance

  How has FairFX Group performed over the past 5 years?

  • FairFX Group's last earnings update was 205 days ago.
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 FairFX Group's growth in the last year to its industry (IT).
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.
  • FairFX Group has delivered over 20% year on year earnings growth in the past 5 years.
  • FairFX Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • FairFX Group has become profitable in the last year making it difficult to compare the GB IT industry average.
Earnings and Revenue History
FairFX 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 FairFX Group Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FFX Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 21.38 2.38 14.18
2018-03-31 18.42 1.41 12.81
2017-12-31 15.46 0.45 11.44
2017-09-30 13.59 0.02 10.31
2017-06-30 11.71 -0.40 9.18
2017-03-31 10.95 -0.92 9.04
2016-12-31 10.19 -1.44 8.91
2016-09-30 9.56 -1.83 8.82
2016-06-30 8.93 -2.22 8.74
2016-03-31 8.45 -2.81 8.91
2015-12-31 7.97 -3.40 9.09
2015-09-30 7.36 -3.85 8.72
2015-06-30 6.76 -4.31 8.34
2015-03-31 6.12 -3.57 7.16
2014-12-31 5.48 -2.83 5.97
2014-09-30 -60.74 -1.56 4.78
2014-06-30 -126.96 -0.29 3.60
2014-03-31 -61.52 -0.08 3.12
2013-12-31 3.93 0.13 2.64
2012-12-31 221.02 0.32 1.78

*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.
  • FairFX Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FairFX Group used its assets less efficiently than the GB IT industry average last year based on Return on Assets.
  • FairFX Group has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess FairFX 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 IT 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.
FairFX Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

FFX Health

 How is FairFX 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 FairFX Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FairFX Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FairFX Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FairFX 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.
  • FairFX Group has no debt, it does not need to be covered by short term assets.
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 FairFX Group Company Filings, last reported 9 months ago.

AIM:FFX Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 37.15 0.00 57.81
2018-03-31 37.15 0.00 57.81
2017-12-31 35.05 0.00 51.95
2017-09-30 35.05 0.00 51.95
2017-06-30 4.92 0.00 7.03
2017-03-31 4.92 0.00 7.03
2016-12-31 4.39 0.00 8.52
2016-09-30 4.39 0.00 8.52
2016-06-30 4.94 0.00 9.75
2016-03-31 4.94 0.00 9.75
2015-12-31 0.71 0.00 3.62
2015-09-30 0.71 0.00 3.62
2015-06-30 0.12 0.33 6.13
2015-03-31 0.12 0.33 6.13
2014-12-31 1.86 0.33 4.09
2014-09-30 1.86 0.33 4.09
2014-06-30 0.22 0.45 3.96
2014-03-31 0.22 0.45 3.96
2013-12-31 0.80 0.45 2.01
2012-12-31 0.67 0.45 2.34
  • FairFX Group has no debt.
  • FairFX Group has no debt compared to 5 years ago when it was 60.8%.
  • FairFX Group has no debt, it does not need to be covered by operating cash flow.
  • FairFX Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess FairFX 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. FairFX Group has a total score of 6/6, 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.

FFX Dividends

 What is FairFX 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
0%
Current annual income from FairFX Group dividends.
If you bought £2,000 of FairFX Group shares you are expected to receive £0 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?
  • Unable to evaluate FairFX Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate FairFX Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
AIM:FFX 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 IT Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.3%
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 5.2%

Industry and Market average data is calculated daily.

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

AIM:FFX Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31

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

  • Unable to perform a dividend volatility check as FairFX Group has not reported any payouts.
  • Unable to verify if FairFX Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of FairFX Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as FairFX Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess FairFX 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 FairFX Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FairFX Group has a total score of 0/6, see the detailed checks below.


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

FFX Management

 What is the CEO of FairFX 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
Ian Alexander Strafford-Taylor
COMPENSATION £0
AGE 57
TENURE AS CEO 7.3 years
CEO Bio

Mr. Ian Alexander Irving Strafford-Taylor serves as the Chief Executive Officer of FairFX Group Plc and served as its Company Secretary. Mr. Strafford-Taylor serves as Chief Executive Officer of FairFX Plc. Mr. Strafford-Taylor has held a number of senior banking roles, including Business Unit Controller and Head of International Securities Lending at Morgan Stanley, where he worked from 1985 to 1992. Following this, Mr. Strafford-Taylor moved to UBS where he worked for 13 years as Managing Director and Global Head of Securities Borrowing & Lending, Fixed Income Repo and Prime Brokerage. He serves as a Director of FairFX (UK) Limited. He has been an Executive Director of FairFX Group Plc since 2007. He is a Chartered Accountant, qualifying with Arthur Andersen in 1985.

CEO Compensation
  • Insufficient data for Ian Alexander to compare compensation growth.
  • Ian Alexander's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Ian Alexander Strafford-Taylor

TITLE
CEO & Executive Director
AGE
57
TENURE
7.3 yrs

Tony Quirke

TITLE
CFO & Company Secretary

Jules Bean

TITLE
Technical Director

Ben Wynn

TITLE
Chief Product & Marketing Officer
TENURE
1.5 yrs

John Zablocki

TITLE
Financial Controller
Board of Directors Tenure

Average tenure and age of the FairFX Group board of directors in years:

4.6
Average Tenure
58.5
Average Age
  • The tenure for the FairFX Group board of directors is about average.
Board of Directors

Anthony Pearson

TITLE
Non-Executive Chairman
AGE
61
TENURE
4.4 yrs

Ian Alexander Strafford-Taylor

TITLE
CEO & Executive Director
AGE
57
TENURE
12.3 yrs

Bob Head

TITLE
Non-Executive Director
AGE
60
TENURE
2.8 yrs

Ajay Chowdhury

TITLE
Non-Executive Director
AGE
56
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
X
Management checks
We assess FairFX 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. FairFX 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.

FFX News

Simply Wall St News

If You Had Bought FairFX Group (LON:FFX) Stock Three Years Ago, You Could Pocket A 238% Gain Today

To wit, the FairFX Group Plc (LON:FFX) share price has flown 238% in the last three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, FairFX Group moved from a loss to profitability.

Simply Wall St -

Is FairFX Group Plc's (LON:FFX) 6.4% ROE Worse Than Average?

We'll use ROE to examine FairFX Group Plc (LON:FFX), by way of a worked example. … Another way to think of that is that for every £1 worth of equity in the company, it was able to earn £0.064. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why FairFX Group Plc’s (LON:FFX) Return On Capital Employed Looks Uninspiring

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Should You Consider FairFX Group Plc (LON:FFX)?

I've been keeping an eye on FairFX Group Plc (LON:FFX) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe FFX has a lot to offer. … is a company with

Simply Wall St -

What Does FairFX Group Plc's (LON:FFX) PE Ratio Tell You?

This analysis is intended to introduce important early concepts to people who are starting to invest. … While this might not seem positive, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … View our latest analysis for FairFX Group

Simply Wall St -

Why FairFX Group Plc's (LON:FFX) ROE Of 1.28% Does Not Tell The Whole Story

and want to better understand how you can grow your money by investing in FairFX Group Plc (LON:FFX). … FairFX Group Plc (LON:FFX) generated a below-average return on equity of 1.28% in the past 12 months, while its industry returned 11.55%. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into FFX's past performance

Simply Wall St -

FairFX Group Plc (AIM:FFX): How Much Growth Is Left In Tech?

This rate is larger than the growth rate of the UK stock market as a whole. … In the past year, the industry delivered growth in the twenties, beating the UK market growth of 11.30%. … Use our free playform to see my list of over 1000 other tech companies trading on the market.

Simply Wall St -

What You Must Know About FairFX Group Plc's (AIM:FFX) Major Investors

Insider Ownership Another important group of shareholders are company insiders. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … Private Company Ownership Another group of owners that a potential investor in FFX should consider are private companies, with a stake of 20.44%.

Simply Wall St -

FFX Company Info

Description

FairFX Group Plc, through its subsidiaries, primarily provides foreign exchange payment services to private clients and corporations through prepaid currency cards, travel cash, and international money transfers in the United Kingdom. The company operates a cloud-based peer-to-peer payments platform that enables personal and business customers to make multi-currency payments in a range of currencies, and across a range of FX products through an integrated system. Its FairFX platform facilitates payments direct to bank accounts or at 32 million merchants, and approximately 1 million ATMs in a range of countries through mobile apps, the Internet, SMS, wire transfer, and MasterCard/VISA debit cards. The company also offers digital banking products, such as current accounts. FairFX Group Plc was incorporated in 2014 and is based in London, the United Kingdom.

Details
Name: FairFX Group Plc
FFX
Exchange: AIM
Founded: 2014
£164,171,205
162,868,259
Website: http://www.fairfx.com
Address: FairFX Group Plc
Thames House,
3rd Floor,
London,
Greater London, EC4V 3BJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM FFX Ordinary Shares London Stock Exchange AIM Market GB GBP 05. Aug 2014
Number of employees
Current staff
Staff numbers
153
FairFX Group employees.
Industry
Data Processing and Outsourced Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:56
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2018/09/26
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.