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Spectris

LSE:SXS
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SXS
LSE
£3B
Market Cap
  1. Home
  2. GB
  3. Tech
Company description

Spectris plc manufactures and sells measuring instruments and controls worldwide. The last earnings update was 54 days ago. More info.


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SXS Share Price and Events
7 Day Returns
-0.8%
LSE:SXS
0.5%
GB Electronic
1.5%
GB Market
1 Year Returns
-10%
LSE:SXS
-3%
GB Electronic
-6.3%
GB Market
SXS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spectris (SXS) -0.8% -8.6% -4.5% -10% 47.1% 10.4%
GB Electronic 0.5% -3.5% 5.1% -3% 76.4% 77.9%
GB Market 1.5% -2.1% 1.8% -6.3% 15.4% 2%
1 Year Return vs Industry and Market
  • SXS underperformed the Electronic industry which returned -3% over the past year.
  • SXS underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -6.3% over the past year.
Price Volatility
SXS
Industry
5yr Volatility vs Market

SXS Value

 Is Spectris 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 Spectris 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 Spectris.

LSE:SXS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
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 LSE:SXS
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 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.046 (1 + (1- 19%) (12.58%))
1.102
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.102 * 6.65%)
8.56%

Discounted Cash Flow Calculation for LSE:SXS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Spectris 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.

LSE:SXS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 8.56%)
2019 145.64 Analyst x8 134.16
2020 182.19 Analyst x9 154.60
2021 195.43 Analyst x6 152.77
2022 205.76 Est @ 5.28% 148.16
2023 214.12 Est @ 4.07% 142.03
2024 221.00 Est @ 3.21% 135.04
2025 226.79 Est @ 2.62% 127.66
2026 231.78 Est @ 2.2% 120.18
2027 236.20 Est @ 1.91% 112.82
2028 240.23 Est @ 1.7% 105.70
Present value of next 10 years cash flows £1,333.12
LSE:SXS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £240.23 × (1 + 1.23%) ÷ (8.56% – 1.23%)
£3,317.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £3,317.92 ÷ (1 + 8.56%)10
£1,459.91
LSE:SXS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £1,333.12 + £1,459.91
£2,793.03
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £2,793.03 / 115.82
£24.12
LSE:SXS Discount to Share Price
Calculation Result
Value per share (GBP) From above. £24.12
Current discount Discount to share price of £25.40
= -1 x (£25.40 - £24.12) / £24.12
-5.3%

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

  • The current share price of Spectris is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Spectris's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Spectris's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:SXS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £1.58
LSE:SXS Share Price ** LSE (2019-05-21) in GBP £25.4
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 16.22x

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

** Primary Listing of Spectris.

LSE:SXS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SXS Share Price ÷ EPS (both in GBP)

= 25.4 ÷ 1.58

16.12x

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

  • Spectris is good value based on earnings compared to the GB Electronic industry average.
  • Spectris is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Spectris's expected growth come at a high price?
Raw Data
LSE:SXS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
3.5%per year
United Kingdom of Great Britain and Northern Ireland Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 2.1x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 575 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

LSE:SXS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.12x ÷ 3.5%

4.65x

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

  • Spectris is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Spectris's assets?
Raw Data
LSE:SXS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £10.67
LSE:SXS Share Price * LSE (2019-05-21) in GBP £25.4
United Kingdom of Great Britain and Northern Ireland Electronic Industry PB Ratio Median Figure of 33 Publicly-Listed Electronic Companies 2.16x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,368 Publicly-Listed Companies 1.5x
LSE:SXS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SXS Share Price ÷ Book Value per Share (both in GBP)

= 25.4 ÷ 10.67

2.38x

* Primary Listing of Spectris.

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

  • Spectris is overvalued based on assets compared to the GB Electronic industry average.
X
Value checks
We assess Spectris'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. Spectris 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.

SXS Future Performance

 How is Spectris expected to perform in the next 1 to 3 years based on estimates from 14 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
3.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spectris expected to grow at an attractive rate?
  • Spectris's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Spectris's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Spectris's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:SXS Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:SXS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 3.5%
LSE:SXS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 2.8%
United Kingdom of Great Britain and Northern Ireland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 8.7%
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 11%
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
LSE:SXS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:SXS Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 1,750 201 1
2021-12-31 1,757 308 195 10
2020-12-31 1,704 283 179 14
2019-12-31 1,661 250 140 13
LSE:SXS Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 1,604 178 185
2018-09-30 1,574 176 238
2018-06-30 1,544 175 292
2018-03-31 1,535 183 263
2017-12-31 1,526 191 235
2017-09-30 1,500 203 123
2017-06-30 1,474 215 11
2017-03-31 1,410 215 11
2016-12-31 1,346 216 10
2016-09-30 1,277 198 57
2016-06-30 1,208 181 104
2016-03-31 1,199 167 109

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Spectris's earnings are expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
  • Spectris's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (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
LSE:SXS 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 14 Analyst Estimates (S&P Global) See Below

All data from Spectris Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SXS Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 1.77 2.04 1.60 6.00
2020-12-31 1.59 1.91 1.42 10.00
2019-12-31 1.30 1.76 1.04 10.00
LSE:SXS Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 1.58
2018-09-30 2.02
2018-06-30 2.45
2018-03-31 2.21
2017-12-31 1.97
2017-09-30 1.03
2017-06-30 0.09
2017-03-31 0.09
2016-12-31 0.09
2016-09-30 0.48
2016-06-30 0.88
2016-03-31 0.92

*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.
  • Spectris is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Spectris'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.
Spectris 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.

SXS Past Performance

  How has Spectris 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
Below we compare Spectris'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.
  • Spectris's year on year earnings growth rate has been positive over the past 5 years.
  • Spectris's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Spectris's 1-year earnings growth is negative, it can't be compared to the GB Electronic industry average.
Earnings and Revenue History
Spectris'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 Spectris Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:SXS Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,604.20 185.20 719.40
2018-09-30 1,573.90 238.45 703.65
2018-06-30 1,543.60 291.70 687.90
2018-03-31 1,534.60 263.25 686.65
2017-12-31 1,525.60 234.80 685.40
2017-09-30 1,500.00 123.00 681.65
2017-06-30 1,474.40 11.20 677.90
2017-03-31 1,410.10 10.75 637.50
2016-12-31 1,345.80 10.30 597.10
2016-09-30 1,277.00 57.35 568.25
2016-06-30 1,208.20 104.40 539.40
2016-03-31 1,199.10 109.10 537.25
2015-12-31 1,190.00 113.80 535.10
2015-09-30 1,193.55 121.25 528.95
2015-06-30 1,197.10 128.70 522.80
2015-03-31 1,185.40 131.90 513.55
2014-12-31 1,173.70 135.10 504.30
2014-09-30 1,172.55 137.40 502.35
2014-06-30 1,171.40 139.70 500.40
2014-03-31 1,186.70 169.85 505.80
2013-12-31 1,202.00 200.00 511.20
2013-09-30 1,203.25 195.00 510.35
2013-06-30 1,204.50 190.00 509.50
2013-03-31 1,217.65 165.10 510.70
2012-12-31 1,230.80 140.20 511.90
2012-09-30 1,213.25 135.10 511.05
2012-06-30 1,195.70 130.00 510.20

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

SXS Health

 How is Spectris'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 Spectris's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Spectris is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Spectris's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Spectris'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.
  • Debt is covered by short term assets, assets are 1.8x 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.
Raw Data

All data from Spectris Company Filings, last reported 4 months ago.

LSE:SXS Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,232.90 370.20 73.10
2018-09-30 1,232.90 370.20 73.10
2018-06-30 1,131.80 289.50 58.00
2018-03-31 1,131.80 289.50 58.00
2017-12-31 1,204.10 188.50 137.90
2017-09-30 1,204.10 188.50 137.90
2017-06-30 1,047.70 216.70 61.20
2017-03-31 1,047.70 216.70 61.20
2016-12-31 1,067.40 234.40 83.50
2016-09-30 1,067.40 234.40 83.50
2016-06-30 1,041.00 176.40 72.90
2016-03-31 1,041.00 176.40 72.90
2015-12-31 966.00 156.80 58.20
2015-09-30 966.00 156.80 58.20
2015-06-30 884.20 181.10 32.40
2015-03-31 884.20 181.10 32.40
2014-12-31 916.00 160.40 34.80
2014-09-30 916.00 160.40 34.80
2014-06-30 830.60 133.90 26.50
2014-03-31 830.60 133.90 26.50
2013-12-31 844.10 147.90 43.80
2013-09-30 844.10 147.90 43.80
2013-06-30 813.60 193.10 36.00
2013-03-31 813.60 193.10 36.00
2012-12-31 691.60 295.60 40.80
2012-09-30 691.60 295.60 40.80
2012-06-30 625.30 358.70 28.80
  • Spectris's level of debt (30%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (17.5% vs 30% today).
  • Debt is well covered by operating cash flow (48.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 39.2x coverage).
X
Financial health checks
We assess Spectris'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. Spectris has a total score of 5/6, 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.

SXS Dividends

 What is Spectris'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
2.4%
Current annual income from Spectris dividends. Estimated to be 2.66% next year.
If you bought £2,000 of Spectris shares you are expected to receive £48 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?
  • Spectris's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2%).
  • Spectris's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.27%).
Upcoming dividend payment

Purchase Spectris before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
LSE:SXS 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 14 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 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 5.3%

Industry and Market average data is calculated daily.

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

LSE:SXS Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.74 1.00
2021-12-31 0.71 10.00
2020-12-31 0.68 14.00
2019-12-31 0.65 13.00
LSE:SXS Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.610 2.295
2018-03-27 0.565 2.296
2018-02-19 0.565 2.104
2017-02-14 0.520 2.061
2016-03-17 0.495 2.509
2015-03-24 0.465 2.506
2015-02-27 0.465 2.092
2014-07-28 0.440 2.255
2014-02-27 0.428 1.887
2013-07-26 0.403 1.739
2013-02-20 0.390 1.812
2012-03-19 0.336 1.894
2012-02-17 0.336 1.927
2011-08-23 0.291 2.218
2011-03-25 0.280 1.885
2011-02-25 0.280 2.024
2010-03-23 0.243 2.428
2010-02-23 0.243 2.978
2009-08-25 0.234 3.256

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 Spectris's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Spectris'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 Spectris afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Spectris has a total score of 5/6, see the detailed checks below.


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

SXS Management

 What is the CEO of Spectris'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
Andrew Heath
COMPENSATION £848,353
AGE 54
TENURE AS CEO 0.7 years
CEO Bio

Mr. Andrew Heath has been the Director of Spectris plc since September 3, 2018 and has been its Chief Executive Officer since September 28, 2018. He served as the Chief Executive Officer of Imagination Technologies Group Plc from May 25, 2016 to March 2018. Mr. Heath served as an Interim Chief Executive Officer of Imagination Technologies Group Plc from February 28, 2016 to May 25, 2016. Mr. Heath served as Chief Executive Officer of Alent plc from March 2016 to December 2016. He served as the President of Energy at Rolls Royce Holdings Plc since 2010. Mr. Heath joined Rolls-Royce as an undergraduate trainee in 1982 and progressed to Managing Director, Control Systems Operating Unit in 2001. He was appointed as President, Texas Aero Engines Services Limited (TAESL) in 2005 and served as Chief Executive Officer of Rolls Royce Fuel Cell Systems in 2007, before moving into the Energy Business in 2009 as Chief Operating Officer. He serves as Non-Executive Director at Imagination Technologies Limited. Mr. Heath has been an Executive Director of Imagination Technologies Group Plc since August 1, 2012. He served as a Director of Alent plc since March 2016 until December 2016. He served as a Non-Executive Director of Oxford BioSignals. He holds a BSc in engineering from Imperial College London and an MBA.

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

Average tenure and age of the Spectris management team in years:

2
Average Tenure
54
Average Age
  • The average tenure for the Spectris management team is less than 2 years, this suggests a new team.
Management Team

Andrew Heath

TITLE
CEO & Executive Director
COMPENSATION
£848K
AGE
54
TENURE
0.7 yrs

Derek Harding

TITLE
Chief Financial Officer
AGE
45
TENURE
0.1 yrs

Mark Serfözo

TITLE
Company Secretary & General Counsel
TENURE
1.6 yrs

Robin Stopford

TITLE
Group Head of Corporate Development
TENURE
5.5 yrs

Andrew Harvey

TITLE
Group Human Resources Director
AGE
54
TENURE
2.3 yrs

Siobhán Andrews

TITLE
Head of Corporate Affairs

Ken Smith

TITLE
President of Asia Pacific
TENURE
6.8 yrs

Robert Martin

TITLE
Deputy Company Secretary

Rebecca Dunn

TITLE
Deputy Company Secretary

Crister Dalen

TITLE
Assistant Company Secretary
Board of Directors Tenure

Average tenure and age of the Spectris board of directors in years:

2.2
Average Tenure
55
Average Age
  • The average tenure for the Spectris board of directors is less than 3 years, this suggests a new board.
Board of Directors

Mark Williamson

TITLE
Non-Executive Chairman
COMPENSATION
£220K
AGE
60
TENURE
2 yrs

Andrew Heath

TITLE
CEO & Executive Director
COMPENSATION
£848K
AGE
54
TENURE
0.7 yrs

Derek Harding

TITLE
Chief Financial Officer
AGE
45
TENURE
0.3 yrs

Russell King

TITLE
Senior Independent Director
COMPENSATION
£75K
AGE
61

Bill Seeger

TITLE
Non-Executive Director
COMPENSATION
£80K
AGE
66
TENURE
4.3 yrs

Martha Wyrsch

TITLE
Non-Executive Director
COMPENSATION
£70K
AGE
60
TENURE
6.9 yrs

Ulf Quellmann

TITLE
Non-Executive Director
COMPENSATION
£61K
AGE
52
TENURE
4.3 yrs

Kjersti Wiklund

TITLE
Non Executive Director
COMPENSATION
£55K
AGE
55
TENURE
2.3 yrs

Karim Bitar

TITLE
Non-Executive Director
COMPENSATION
£55K
AGE
53
TENURE
1.8 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 (£)
18. Dec 18 Buy Karim Bitar Individual 17. Dec 18 17. Dec 18 680 £0.22 £150
20. Aug 18 Buy Karim Bitar Individual 17. Aug 18 17. Aug 18 650 £23.06 £14,991
29. May 18 Sell Clive Watson Individual 29. May 18 29. May 18 -1,007 £28.36 £-28,559
X
Management checks
We assess Spectris'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. Spectris 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.

SXS News

Simply Wall St News

Can You Imagine How Spectris's (LON:SXS) Shareholders Feel About The 54% Share Price Increase?

For example, the Spectris plc (LON:SXS) share price is up 54% in the last three years, clearly besting than the market return of around 18% (not including dividends). … 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). … Spectris was able to grow its EPS at 18% per year over three years, sending the share price higher.

Simply Wall St -

Spectris plc (LON:SXS): Is It A Smart Long Term Opportunity?

On 31 December 2018, Spectris plc (LON:SXS) released its earnings update. … with earnings expected to grow by -26% in the upcoming year … the higher past 5-year average growth rate of 7.7%.

Simply Wall St -

Read This Before You Buy Spectris plc (LON:SXS) Because Of Its P/E Ratio

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Spectris plc's (LON:SXS) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Should We Be Delighted With Spectris plc's (LON:SXS) ROE Of 15%?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every £1 worth of shareholders' equity, it generated £0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Spectris plc (LON:SXS): Poised For Long-Term Success?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … In December 2018, Spectris plc (LON:SXS) announced its most recent earnings update, which

Simply Wall St -

Is Spectris plc (LON:SXS) Potentially Underrated?

Help shape the future of investing tools and you could win a $250 gift card! … Spectris plc (LON:SXS) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.

Simply Wall St -

Calculating The Intrinsic Value Of Spectris plc (LON:SXS)

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

How Do Spectris plc’s (LON:SXS) Returns Compare To Its Industry?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Spectris plc (LON:SXS) A Financially Strong Company?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Spectris plc (LON:SXS), with a market capitalization of UK£2.8b, rarely draw their attention from the investing community. … While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … This article will examine SXS’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth.

Simply Wall St -

An Examination Of Spectris plc (LON:SXS)

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

SXS Company Info

Description

Spectris plc manufactures and sells measuring instruments and controls worldwide. It operates through four segments: Materials Analysis, Test and Measurement, In-line Instrumentation, and Industrial Controls. The Materials Analysis segment provides products and services, which enable customers to determine structure, composition, quantity, and quality of particles and materials during their research and development processes, when assessing materials before production, or during the manufacturing process. It serves metal, minerals and mining, pharmaceutical, fine chemical, and semiconductor industries; and academic research institutes. The Test and Measurement segment supplies test, measurement, and analysis equipment, as well as software and services for product design optimization, manufacturing control, microseismic monitoring, and environmental noise monitoring. It serves automotive, aerospace, electronics, and energy industries, as well as academic research institutes. The In-line Instrumentation segment offers process analytical measurement, asset monitoring, and online controls, as well as associated consumables and services for primary processing and converting industries. It serves process, pulp, paper, tissue, energy, utilities, and Web and converting industries. The Industrial Controls segment provides products and solutions that measure, monitor, control, inform, and connect during the production process. It serves manufacturing, process, energy, and electronics industries. The company was formerly known as Fairey Aviation Company Ltd. and changed its name to Spectris plc in May 2001. Spectris plc was founded in 1915 and is based in Egham, the United Kingdom.

Details
Name: Spectris plc
SXS
Exchange: LSE
Founded: 1915
£2,941,809,686
115,819,279
Website: http://www.spectris.com
Address: Spectris plc
Heritage House,
Church Road,
Egham,
Surrey, TW20 9QD,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SXS Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK SEPJ.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB FA9 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BMV SXS N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE SXSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK SEPJ.Y UNSPONSORED ADR Pink Sheets LLC US USD 09. May 2011
Number of employees
Current staff
Staff numbers
9,695
Spectris employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 20:47
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/03/28
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.