Loading...

Solid State

AIM:SOLI
Snowflake Description

Flawless balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SOLI
AIM
£41M
Market Cap
  1. Home
  2. GB
  3. Tech
Company description

Solid State PLC manufactures and sells electronic equipment; and distributes electronic components and materials. The last earnings update was 185 days ago. More info.


Add to Portfolio Compare Print
SOLI Share Price and Events
7 Day Returns
3.2%
AIM:SOLI
-0.8%
GB Electronic
-1.3%
GB Market
1 Year Returns
58.1%
AIM:SOLI
-4.8%
GB Electronic
-5.9%
GB Market
SOLI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Solid State (SOLI) 3.2% 9.9% 17.3% 58.1% 38.7% 24.9%
GB Electronic -0.8% -3.6% 5.8% -4.8% 75.5% 75.6%
GB Market -1.3% -3.3% 0.8% -5.9% 12.6% 0.4%
1 Year Return vs Industry and Market
  • SOLI outperformed the Electronic industry which returned -4.8% over the past year.
  • SOLI outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -5.9% over the past year.
Price Volatility
SOLI
Industry
5yr Volatility vs Market

Value

 Is Solid State 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 Solid State 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 Solid State.

AIM:SOLI 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:SOLI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.041 (1 + (1- 19%) (0%))
1.027
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.027 * 6.65%)
8.06%

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

The calculations below outline how an intrinsic value for Solid State 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:SOLI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 8.06%)
2019 2.00 Analyst x1 1.85
2020 2.50 Analyst x1 2.14
2021 2.90 Est @ 15.89% 2.30
2022 3.23 Est @ 11.49% 2.37
2023 3.50 Est @ 8.41% 2.38
2024 3.72 Est @ 6.26% 2.34
2025 3.90 Est @ 4.75% 2.27
2026 4.04 Est @ 3.69% 2.17
2027 4.16 Est @ 2.95% 2.07
2028 4.26 Est @ 2.43% 1.96
Present value of next 10 years cash flows £21.85
AIM:SOLI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £4.26 × (1 + 1.23%) ÷ (8.06% – 1.23%)
£63.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £63.16 ÷ (1 + 8.06%)10
£29.10
AIM:SOLI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £21.85 + £29.10
£50.94
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £50.94 / 8.50
£5.99
AIM:SOLI Discount to Share Price
Calculation Result
Value per share (GBP) From above. £5.99
Current discount Discount to share price of £4.87
= -1 x (£4.87 - £5.99) / £5.99
18.7%

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

Current Discount
Amount off the current price Solid State is available for.
Intrinsic value
19%
Share price is £4.87 vs Future cash flow value of £5.99
Current Discount Checks
For Solid State to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Solid State's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Solid State's share price is below the future cash flow value, but not 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 Solid State's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Solid State's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:SOLI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in GBP £0.27
AIM:SOLI Share Price ** AIM (2019-05-24) in GBP £4.87
United Kingdom of Great Britain and Northern Ireland Electronic Industry PE Ratio Median Figure of 21 Publicly-Listed Electronic Companies 20.55x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 789 Publicly-Listed Companies 16.18x

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

** Primary Listing of Solid State.

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

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

= 4.87 ÷ 0.27

17.73x

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

  • Solid State is good value based on earnings compared to the GB Electronic industry average.
  • Solid State is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Solid State's expected growth come at a high price?
Raw Data
AIM:SOLI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
9%per year
United Kingdom of Great Britain and Northern Ireland Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.21x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 574 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.73x ÷ 9%

1.97x

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

  • Solid State is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Solid State's assets?
Raw Data
AIM:SOLI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in GBP £2.20
AIM:SOLI Share Price * AIM (2019-05-24) in GBP £4.87
United Kingdom of Great Britain and Northern Ireland Electronic Industry PB Ratio Median Figure of 33 Publicly-Listed Electronic Companies 2.19x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,369 Publicly-Listed Companies 1.48x
AIM:SOLI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.87 ÷ 2.20

2.22x

* Primary Listing of Solid State.

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

  • Solid State is overvalued based on assets compared to the GB Electronic industry average.
X
Value checks
We assess Solid State'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Solid State has a total score of 1/6, 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 Solid State 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
9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Solid State expected to grow at an attractive rate?
  • Solid State's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Solid State's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Solid State'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:SOLI Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:SOLI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 9%
AIM:SOLI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 23.9%
United Kingdom of Great Britain and Northern Ireland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 10.1%
United Kingdom of Great Britain and Northern Ireland Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.8%
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 5%

*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:SOLI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 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:SOLI Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-31 68 4 3 2
2019-03-31 55 3 3 1
AIM:SOLI Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-09-30 47 5 2
2018-06-30 47 3 2
2018-03-31 46 1 2
2017-09-30 42 2 2
2017-06-30 41 6 2
2017-03-31 40 9 2
2016-09-30 35 8 2
2016-06-30 36 5 2
2016-03-31 37 2 2
2015-12-31 43 0 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Solid State's earnings are expected to grow by 9% yearly, however this is not considered high growth (20% yearly).
  • Solid State'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:SOLI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Solid State Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:SOLI Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-31 0.29 0.29 0.29 1.00
2019-03-31 0.29 0.29 0.29 1.00
AIM:SOLI Past Financials Data
Date (Data in GBP Millions) EPS *
2018-09-30 0.27
2018-06-30 0.27
2018-03-31 0.27
2017-09-30 0.21
2017-06-30 0.24
2017-03-31 0.27
2016-09-30 0.29
2016-06-30 0.28
2016-03-31 0.28
2015-12-31 0.43

*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 Solid State will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Solid State'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.
Solid State has a total score of 3/6, 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 Solid State performed over the past 5 years?

  • Solid State's last earnings update was 185 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 Solid State's growth in the last year to its industry (Electronic).
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.
  • Solid State's year on year earnings growth rate has been positive over the past 5 years.
  • Solid State's 1-year earnings growth exceeds its 5-year average (31.8% vs 0.4%)
  • Solid State's earnings growth has exceeded the GB Electronic industry average in the past year (31.8% vs 14.3%).
Earnings and Revenue History
Solid State'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 Solid State Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:SOLI Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 47.36 2.33 9.53
2018-06-30 46.81 2.28 9.36
2018-03-31 46.27 2.24 9.18
2017-09-30 42.39 1.76 9.15
2017-06-30 41.21 2.03 8.79
2017-03-31 40.02 2.29 8.43
2016-09-30 34.88 2.42 8.10
2016-06-30 35.84 2.36 8.23
2016-03-31 36.81 2.30 8.36
2015-12-31 42.77 3.60 8.90
2015-09-30 41.44 3.02 8.72
2015-06-30 39.00 2.96 8.41
2015-03-31 36.56 2.89 8.10
2014-12-31 36.74 2.81 8.03
2014-09-30 36.93 2.72 7.96
2014-06-30 34.51 2.30 7.55
2014-03-31 32.09 1.88 7.13
2013-12-31 30.05 1.66 6.77
2013-09-30 28.01 1.44 6.41
2013-06-30 29.75 1.46 6.40
2013-03-31 31.49 1.49 6.39
2012-12-31 30.89 1.44 6.44
2012-09-30 30.29 1.39 6.49
2012-06-30 28.08 1.35 6.09

*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.
  • Solid State has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Solid State used its assets more efficiently than the GB Electronic industry average last year based on Return on Assets.
  • Solid State's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Solid State'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 Electronic 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.
Solid State has a total score of 4/6, 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 Solid State'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 Solid State's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Solid State is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Solid State's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Solid State'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.
  • High level of physical assets or inventory.
  • Solid State 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 Solid State Company Filings, last reported 7 months ago.

AIM:SOLI Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 18.60 0.00 1.79
2018-06-30 18.60 0.00 1.79
2018-03-31 18.02 0.00 0.58
2017-09-30 17.15 1.34
2017-06-30 17.15 1.34
2017-03-31 16.64 0.01 0.91
2016-09-30 16.49 0.44 0.23
2016-06-30 16.49 0.44 0.23
2016-03-31 15.77 4.41 0.99
2015-12-31 15.76 4.41 0.99
2015-09-30 13.24 4.50 0.32
2015-06-30 13.24 4.50 0.32
2015-03-31 12.39 4.21 1.74
2014-12-31 12.39 4.21 1.74
2014-09-30 11.43 1.08 0.04
2014-06-30 11.43 1.08 0.04
2014-03-31 10.41 3.05 0.69
2013-12-31 10.41 3.05 0.69
2013-09-30 6.66 2.25 0.16
2013-06-30 6.66 2.25 0.16
2013-03-31 6.28 3.40 1.10
2012-12-31 6.28 3.40 1.10
2012-09-30 5.42 2.07 0.28
2012-06-30 5.42 2.07 0.28
  • Solid State has no debt.
  • Solid State has no debt compared to 5 years ago when it was 33.7%.
  • Solid State has no debt, it does not need to be covered by operating cash flow.
  • Solid State has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Solid State'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. Solid State 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.

Dividends

 What is Solid State'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
2.46%
Current annual income from Solid State dividends. Estimated to be 2.51% next year.
If you bought £2,000 of Solid State shares you are expected to receive £49 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?
  • Solid State's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.03%).
  • Solid State's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.33%).
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:SOLI 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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 1.6%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 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 5.3%

Industry and Market average data is calculated daily.

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

AIM:SOLI Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-03-31 0.12 2.00
2019-03-31 0.12 2.00
AIM:SOLI Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-07-03 0.120 3.497
2017-08-09 0.120 3.088
2017-07-04 0.120 2.568
2016-07-14 0.120 2.851
2016-07-05 0.120 3.880
2015-07-15 0.120 2.475
2015-07-07 0.120 1.394
2014-07-25 0.085 1.246
2014-07-07 0.085 1.977
2013-06-18 0.080 2.796
2012-12-10 0.075 3.397
2012-07-05 0.073 3.063
2012-06-21 0.073 2.962
2011-08-17 0.080 5.609
2011-07-27 0.080 7.100
2010-08-10 0.030 3.857
2010-07-28 0.030 4.732
2009-08-05 0.030 6.847
2009-08-04 0.030 7.792

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 Solid State's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
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 Solid State'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 Solid State afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Solid State 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 Solid State'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
Gary Marsh
COMPENSATION £214,000
AGE 52
TENURE AS CEO 8.2 years
CEO Bio

Mr. Gary Stephen Marsh has been the Chief Executive Officer of Solid State plc since 2011. Mr. Marsh served as Managing Director at Solid State plc. Mr. Marsh joined the Solid State plc in 1986. He has held various positions within the Group including that of Operations Director of Solid State Supplies prior to his appointment as its Managing Director in 1997. Mr. Marsh was appointed Group Managing Director of Solid State plc in 2002 following the acquisition of Steatite. He serves as a Director of Solid State plc.

CEO Compensation
  • Gary's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Gary's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Gary Marsh

TITLE
CEO & Executive Director
COMPENSATION
£214K
AGE
52
TENURE
8.2 yrs

Peter James

TITLE
Group Finance Director & Executive Director
COMPENSATION
£172K
AGE
39
TENURE
2.3 yrs

John Macmichael

TITLE
Executive Director
COMPENSATION
£168K
AGE
57

Matthew Richards

TITLE
Executive Director
COMPENSATION
£172K
AGE
55

Peter Haining

TITLE
Company Secretary & Non-Executive Director
COMPENSATION
£12K
AGE
62
Board of Directors Tenure

Average tenure and age of the Solid State board of directors in years:

3.1
Average Tenure
57
Average Age
  • The tenure for the Solid State board of directors is about average.
Board of Directors

Tony Frere

TITLE
Non-Executive Chairman
COMPENSATION
£12K
AGE
71
TENURE
5.1 yrs

Gary Marsh

TITLE
CEO & Executive Director
COMPENSATION
£214K
AGE
52

Peter James

TITLE
Group Finance Director & Executive Director
COMPENSATION
£172K
AGE
39
TENURE
2.3 yrs

John Macmichael

TITLE
Executive Director
COMPENSATION
£168K
AGE
57
TENURE
9.1 yrs

Matthew Richards

TITLE
Executive Director
COMPENSATION
£172K
AGE
55
TENURE
3.1 yrs

Peter Haining

TITLE
Company Secretary & Non-Executive Director
COMPENSATION
£12K
AGE
62

John Lavery

TITLE
Non Executive Director
COMPENSATION
£14K
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • Solid State insiders have sold more shares than they have bought in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
28. Mar 19 Sell Gary Marsh Individual 28. Mar 19 28. Mar 19 -5,200 £3.83 £-19,916
28. Mar 19 Buy Gary Marsh Individual 28. Mar 19 28. Mar 19 5,125 £3.83 £19,629
X
Management checks
We assess Solid State'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. Solid State 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

How Solid State plc (LON:SOLI) Could Add Value To Your Portfolio

AIM:SOLI Income Statement, May 9th 2019 Income investors would also be happy to know that SOLI is a great dividend company, with a current yield standing at 2.4%. … AIM:SOLI Historical Dividend Yield, May 9th 2019 Next Steps: For Solid State, there are three relevant aspects you should look at: Future Outlook: What are well-informed industry analysts predicting for SOLI’s future growth? … Take a look at our free research report of analyst consensus for SOLI’s outlook.

Simply Wall St -

Does Solid State plc's (LON:SOLI) CEO Pay Matter?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Gary Marsh's Compensation Compare With Similar Sized Companies. … Our data indicates that Solid State plc is worth UK£38m, and total annual CEO compensation is UK£214k.

Simply Wall St -

These Factors Make Solid State plc (LON:SOLI) An Interesting Investment

Solid State plc (LON:SOLI) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … In the case of SOLI, it

Simply Wall St -

Can You Imagine How Solid State's (LON:SOLI) Shareholders Feel About The 14% Share Price Increase?

For example, long term Solid State plc (LON:SOLI) shareholders have enjoyed a 14% share price rise over the last half decade, well in excess of the market return of around 1.2% (not including 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. … During five years of share price growth, Solid State achieved compound earnings per share (EPS) growth of 5.8% per year.

Simply Wall St -

Is Solid State plc (LON:SOLI) Investing Effectively In Its Business?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

How Financially Strong Is Solid State plc (LON:SOLI)?

However, the trade-off is SOLI will have to follow strict debt obligations which will reduce its financial flexibility. … Is financial flexibility worth the lower cost of capital … Debt capital generally has lower cost of capital compared to equity funding.

Simply Wall St -

Solid State plc (LON:SOLI) Delivered A Better ROE Than Its Industry

Our data shows Solid State has a return on equity of 12% for the last year. … That means that for every £1 worth of shareholders' equity, it generated £0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does Solid State plc's (LON:SOLI) 32% Earnings Growth Make It An Outperformer?

After looking at Solid State plc's (LON:SOLI) latest earnings announcement (30 September 2018), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … How Did SOLI's Recent Performance Stack Up Against Its Past. … SOLI's trailing twelve-month earnings (from 30 September 2018) of UK£2.3m has.

Simply Wall St -

Read This Before Considering Solid State plc (LON:SOLI) For Its Upcoming UK£0.042 Dividend

On the 15 February 2019, Solid State plc (LON:SOLI) will be paying shareholders an upcoming dividend amount of UK£0.042 per share. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:? … Has it consistently paid a stable dividend without missing a payment or drastically cutting payout?

Simply Wall St -

Should You Consider Solid State plc (LON:SOLI)?

Solid State plc (LON:SOLI) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … that has been able to sustain great financial health over the past

Simply Wall St -

Company Info

Description

Solid State PLC manufactures and sells electronic equipment; and distributes electronic components and materials. It is involved in the design, development, and supply of rugged and industrial computers, portable power and energy storage solutions, advanced communication systems, antennas, and high bandwidth video transmission products. The company also distributes semiconductors, related electronic components, modules, and displays for use in the Internet of Things, embedded processing, control, wireless and wired communications, power management, and LED lighting. It serves customers in oil and gas, military and security, aerospace, environmental and oceanographic, and medical and industrial OEMS in the United Kingdom, rest of Europe, Asia, North America, and internationally. Solid State PLC was incorporated in 1963 and is based in Redditch, the United Kingdom.

Details
Name: Solid State plc
SOLI
Exchange: AIM
Founded: 1963
£41,412,064
8,503,504
Website: http://www.solidstateplc.com
Address: Solid State plc
2 Ravensbank Business Park,
Hedera Road,
Redditch,
Worcestershire, B98 9EY,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM SOLI Ordinary Shares London Stock Exchange AIM Market GB GBP 26. Jun 1996
Number of employees
Current staff
Staff numbers
200
Solid State employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 20:35
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2018/11/20
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.