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Clarkson

LSE:CKN
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CKN
LSE
£785M
Market Cap
  1. Home
  2. GB
  3. Transportation
Company description

Clarkson PLC provides integrated shipping services worldwide. The last earnings update was 107 days ago. More info.


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CKN Share Price and Events
7 Day Returns
-2.4%
LSE:CKN
-1.1%
Europe Shipping
0.1%
GB Market
1 Year Returns
8.6%
LSE:CKN
-9.2%
Europe Shipping
-2.2%
GB Market
CKN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Clarkson (CKN) -2.4% 5.7% 9.7% 8.6% 43.6% 17.8%
Europe Shipping -1.1% 3.3% -5.4% -9.2% 4.5% -24.9%
GB Market 0.1% 0.6% -0% -2.2% 11.2% 6.1%
1 Year Return vs Industry and Market
  • CKN outperformed the Shipping industry which returned -9.2% over the past year.
  • CKN outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -2.2% over the past year.
Price Volatility
CKN
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Clarkson's competitors could be found in our database.

CKN Value

 Is Clarkson 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 Clarkson 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 Clarkson.

LSE:CKN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
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:CKN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.717 (1 + (1- 19%) (0%))
0.81
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.81 * 6.65%)
6.62%

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

The calculations below outline how an intrinsic value for Clarkson 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:CKN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.62%)
2020 51.12 Analyst x2 47.95
2021 48.66 Analyst x2 42.81
2022 47.16 Est @ -3.09% 38.91
2023 46.31 Est @ -1.79% 35.84
2024 45.90 Est @ -0.89% 33.32
2025 45.79 Est @ -0.25% 31.17
2026 45.88 Est @ 0.19% 29.30
2027 46.11 Est @ 0.5% 27.62
2028 46.44 Est @ 0.72% 26.09
2029 46.84 Est @ 0.87% 24.68
Present value of next 10 years cash flows £337.69
LSE:CKN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £46.84 × (1 + 1.23%) ÷ (6.62% – 1.23%)
£879.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £879.77 ÷ (1 + 6.62%)10
£463.57
LSE:CKN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £337.69 + £463.57
£801.27
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £801.27 / 30.21
£26.53
LSE:CKN Discount to Share Price
Calculation Result
Value per share (GBP) From above. £26.53
Current discount Discount to share price of £26.00
= -1 x (£26.00 - £26.53) / £26.53
2%

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

Current Discount
Amount off the current price Clarkson is available for.
Intrinsic value
2%
Share price is £26 vs Future cash flow value of £26.53
Current Discount Checks
For Clarkson to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Clarkson's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Clarkson'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 Clarkson's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Clarkson's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:CKN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.99
LSE:CKN Share Price ** LSE (2019-07-19) in GBP £26
Europe Shipping Industry PE Ratio Median Figure of 21 Publicly-Listed Shipping Companies 12.7x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 791 Publicly-Listed Companies 16.38x

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

** Primary Listing of Clarkson.

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

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

= 26 ÷ 0.99

26.3x

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

  • Clarkson is overvalued based on earnings compared to the Europe Shipping industry average.
  • Clarkson is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Clarkson's expected growth come at a high price?
Raw Data
LSE:CKN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
10.2%per year
Europe Shipping Industry PEG Ratio Median Figure of 12 Publicly-Listed Shipping Companies 0.87x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 573 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.3x ÷ 10.2%

2.57x

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

  • Clarkson is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Clarkson's assets?
Raw Data
LSE:CKN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £14.25
LSE:CKN Share Price * LSE (2019-07-19) in GBP £26
Europe Shipping Industry PB Ratio Median Figure of 30 Publicly-Listed Shipping Companies 0.77x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,377 Publicly-Listed Companies 1.5x
LSE:CKN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 26 ÷ 14.25

1.82x

* Primary Listing of Clarkson.

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

  • Clarkson is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Clarkson'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 Shipping 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 Shipping industry average (and greater than 0)? (1 check)
  5. Clarkson has a total score of 0/6, 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.

CKN Future Performance

 How is Clarkson expected to perform in the next 1 to 3 years based on estimates from 4 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
10.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Clarkson expected to grow at an attractive rate?
  • Clarkson's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Clarkson's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Clarkson'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:CKN Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:CKN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 10.2%
LSE:CKN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.6%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 20.1%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
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
LSE:CKN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:CKN Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 388 46 41 4
2020-12-31 372 44 37 4
2019-12-31 355 47 33 4
LSE:CKN Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 338 23 30
2018-09-30 329 19 29
2018-06-30 320 15 29
2018-03-31 322 32 30
2017-12-31 324 48 31
2017-09-30 320 54 35
2017-06-30 316 60 38
2017-03-31 311 53 37
2016-12-31 306 46 36
2016-09-30 305 42 32
2016-06-30 304 39 28
2016-03-31 303 32 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Clarkson's earnings are expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
  • Clarkson's revenue is expected to grow by 4.6% 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:CKN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Clarkson Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:CKN Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.34 1.38 1.30 3.00
2020-12-31 1.24 1.28 1.18 3.00
2019-12-31 1.12 1.16 1.06 3.00
LSE:CKN Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.99
2018-09-30 0.98
2018-06-30 0.96
2018-03-31 1.00
2017-12-31 1.04
2017-09-30 1.16
2017-06-30 1.28
2017-03-31 1.24
2016-12-31 1.20
2016-09-30 1.07
2016-06-30 0.94
2016-03-31 0.81

*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.
  • Clarkson is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Clarkson'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Clarkson 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.

CKN Past Performance

  How has Clarkson 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 Clarkson's growth in the last year to its industry (Shipping).
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.
  • Clarkson's year on year earnings growth rate has been positive over the past 5 years.
  • Clarkson's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Clarkson's 1-year earnings growth is negative, it can't be compared to the Europe Shipping industry average.
Earnings and Revenue History
Clarkson'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 Clarkson Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:CKN Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 337.60 29.80 281.10
2018-09-30 328.70 29.40 274.20
2018-06-30 319.80 29.00 267.30
2018-03-31 321.90 30.20 267.85
2017-12-31 324.00 31.40 268.40
2017-09-30 319.85 34.90 266.70
2017-06-30 315.70 38.40 265.00
2017-03-31 310.90 37.05 262.35
2016-12-31 306.10 35.70 259.70
2016-09-30 304.90 31.85 258.00
2016-06-30 303.70 28.00 256.30
2016-03-31 302.75 23.85 253.95
2015-12-31 301.80 19.70 251.60
2015-09-30 286.65 15.65 236.85
2015-06-30 271.50 11.60 222.10
2015-03-31 254.70 14.40 206.85
2014-12-31 237.90 17.20 191.60
2014-09-30 229.25 18.10 186.20
2014-06-30 220.60 19.00 180.80
2014-03-31 209.30 17.15 174.35
2013-12-31 198.00 15.30 167.90
2013-09-30 187.65 13.70 160.40
2013-06-30 177.30 12.10 152.90
2013-03-31 176.75 14.00 152.25
2012-12-31 176.20 15.90 151.60
2012-09-30 185.10 20.55 156.95

*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.
  • Clarkson has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Clarkson used its assets less efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Clarkson's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Clarkson'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 Shipping 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.
Clarkson has a total score of 1/6, 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.

CKN Health

 How is Clarkson'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 Clarkson's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Clarkson is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Clarkson's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Clarkson'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.
  • Clarkson 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 Clarkson Company Filings, last reported 6 months ago.

LSE:CKN Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 434.60 0.00 166.20
2018-09-30 434.60 0.00 166.20
2018-06-30 428.10 0.00 100.60
2018-03-31 428.10 0.00 100.60
2017-12-31 423.40 0.00 167.50
2017-09-30 423.40 0.00 167.50
2017-06-30 408.40 0.00 122.80
2017-03-31 408.40 0.00 122.80
2016-12-31 406.70 23.60 183.80
2016-09-30 406.70 23.60 183.80
2016-06-30 367.80 23.30 112.00
2016-03-31 367.80 23.30 112.00
2015-12-31 340.90 46.10 174.10
2015-09-30 340.90 46.10 174.10
2015-06-30 347.40 53.10 136.20
2015-03-31 347.40 53.10 136.20
2014-12-31 167.30 0.00 178.20
2014-09-30 167.30 0.00 178.20
2014-06-30 139.40 0.00 100.30
2014-03-31 139.40 0.00 100.30
2013-12-31 137.70 0.00 122.10
2013-09-30 137.70 0.00 122.10
2013-06-30 133.90 0.00 94.30
2013-03-31 133.90 0.00 94.30
2012-12-31 126.00 0.00 114.60
2012-09-30 126.00 0.00 114.60
  • Clarkson has no debt.
  • Clarkson had no debt 5 years ago.
  • Clarkson has no debt, it does not need to be covered by operating cash flow.
  • Clarkson has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Clarkson'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. Clarkson 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.

CKN Dividends

 What is Clarkson'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
2.88%
Current annual income from Clarkson dividends. Estimated to be 3.18% next year.
If you bought £2,000 of Clarkson shares you are expected to receive £58 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?
  • Clarkson's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.95%).
  • Clarkson's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.45%).
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:CKN 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 4 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 2.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 706 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 5.5%

Industry and Market average data is calculated daily.

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

LSE:CKN Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.87 4.00
2020-12-31 0.83 4.00
2019-12-31 0.79 4.00
LSE:CKN Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-03 0.750 3.066
2019-03-11 0.750 3.155
2018-04-05 0.730 2.928
2018-03-12 0.730 2.273
2017-04-05 0.650 2.284
2017-03-13 0.650 2.311
2016-03-31 0.620 2.868
2016-03-07 0.620 3.004
2015-04-02 0.600 2.626
2015-03-09 0.600 2.768
2014-04-07 0.560 2.537
2014-03-10 0.560 2.366
2013-03-08 0.510 2.714
2012-04-05 0.500 3.856
2012-03-08 0.500 3.825
2011-03-10 0.470 4.018
2011-03-09 0.470 4.348
2010-03-11 0.430 4.388
2009-12-31 0.430 5.405
2009-03-16 0.420 6.393
2008-08-28 0.420 8.717

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 Clarkson's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Clarkson'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 Clarkson afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Clarkson 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.

CKN Management

 What is the CEO of Clarkson'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
Andi Case
COMPENSATION £2,758,000
AGE 52
TENURE AS CEO 11.1 years
CEO Bio

Mr. Andi Case has been the Chief Executive Officer at Clarkson plc since June 17, 2008. Mr. Case served as an Interim Chief Executive of Clarkson plc from May 7, 2008 to June 2008 and served as its Chief Operating Officer until May 2008 and Managing Director of Global Broking arm H Clarkson & Company Limited from 2006 to May 2008. He began his shipbroking career at CWKellock and later Eggar Forrester. Prior to joining Clarksons, Mr. Case was with Braemar Seascope for 17 years, latterly as head of Sale & Purchase and Newbuildings. He serves as Director of Clarkson plc.

CEO Compensation
  • Andi's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Andi's remuneration is higher 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 Clarkson management team in years:

6.3
Average Tenure
60
Average Age
  • The average tenure for the Clarkson management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Andi Case

TITLE
CEO & Director
COMPENSATION
£3M
AGE
52
TENURE
11.1 yrs

Jeff Woyda

TITLE
CFO, COO & Executive Director
COMPENSATION
£959K
AGE
58

Peter Anker

TITLE
Senior Advisor of Banking & Broking
COMPENSATION
£636K
AGE
62
TENURE
0.3 yrs

Kate Hoare

TITLE
Head of Public Relations

John Beckwith

TITLE
Head of Human Resources

Matt Russell

TITLE
Head of Specialised Products
TENURE
5.2 yrs

Richard Whittet

TITLE
Managing Director of Specialised Products

Janet Sykes

TITLE
Head of Media

Robert Stopford

TITLE
Consultant of Maritime Economics and President of Clarkson Research Services
COMPENSATION
£50K
AGE
71
TENURE
7.3 yrs

Mike Cahill

TITLE
Financial Controller
Board of Directors Tenure

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

4.7
Average Tenure
62
Average Age
  • The tenure for the Clarkson board of directors is about average.
Board of Directors

Bill Thomas

TITLE
Non-Executive Chairman
TENURE
0.4 yrs

Andi Case

TITLE
CEO & Director
COMPENSATION
£3M
AGE
52
TENURE
11.1 yrs

Jeff Woyda

TITLE
CFO, COO & Executive Director
COMPENSATION
£959K
AGE
58
TENURE
12.7 yrs

Marie-Louise Clayton

TITLE
Independent Non-Executive Director
COMPENSATION
£76K
AGE
58
TENURE
2.5 yrs

Tim Miller

TITLE
Independent Non-Executive Director
COMPENSATION
£47K
AGE
62
TENURE
1.2 yrs

Peter Backhouse

TITLE
Senior Independent Director
COMPENSATION
£76K
AGE
68
TENURE
5.7 yrs

John Hughes-Hallett

TITLE
Independent Non-Executive Director
COMPENSATION
£167K
AGE
69
TENURE
4.9 yrs

Birger Nergaard

TITLE
Independent Non-Executive Director
COMPENSATION
£57K
AGE
68
TENURE
4.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
15. Mar 19 Buy William Thomas Individual 12. Mar 19 12. Mar 19 2,083 £23.85 £49,680
25. Mar 19 Buy Peter Backhouse Individual 22. Mar 19 22. Mar 19 1,000 £23.00 £23,000
15. Mar 19 Buy Peter Backhouse Individual 12. Mar 19 12. Mar 19 3,000 £23.96 £71,880
19. Feb 19 Buy James Hughes-Hallett Individual 03. Jan 19 03. Jan 19 663 £21.11 £13,994
13. Sep 18 Sell Peter Anker Individual 12. Sep 18 12. Sep 18 -52,059 £27.25 £-1,418,608
13. Sep 18 Sell Birger Nergaard Individual 12. Sep 18 12. Sep 18 -41,647 £27.25 £-1,134,881
23. Aug 18 Sell Peter Anker Individual 21. Aug 18 21. Aug 18 -72,941 £27.50 £-2,005,877
23. Aug 18 Sell Birger Nergaard Individual 21. Aug 18 21. Aug 18 -58,353 £27.50 £-1,604,707
X
Management checks
We assess Clarkson'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. Clarkson 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.

CKN News

Simply Wall St News

Should You Like Clarkson PLC’s (LON:CKN) High Return On Capital Employed?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Clarkson: 0.096 = UK£44m ÷ (UK£600m - UK£144m) (Based on the trailing twelve months to December 2018.) Therefore, Clarkson has an ROCE of 9.6%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

What Do Analysts Think About Clarkson PLC's (LON:CKN) Future?

Generally, analysts seem cautiously bearish, as a 12% rise in profits is expected in the upcoming year, relative to the higher past 5-year average growth rate of 17%. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line. … LSE:CKN Past and Future Earnings, July 8th 2019 From the current net income level of UK£30m and the final forecast of UK£41m by 2022, the annual rate of growth for CKN’s earnings is 10%.

Simply Wall St -

An Examination Of Clarkson PLC (LON:CKN)

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … Flawless balance sheet established dividend payer CKN's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … Take a look at our free research report of analyst consensus for CKN’s outlook.

Simply Wall St -

Is Clarkson PLC's (LON:CKN) 7.5% ROE Better Than Average?

One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.075 in profit. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Clarkson: 7.5% = UK£30m ÷ UK£435m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … One simple way to determine if a company has a good return on equity is to compare it to the average for its industry.

Simply Wall St -

Is It Time To Consider Buying Clarkson PLC (LON:CKN)?

Clarkson PLC (LON:CKN), which is in the shipping business, and is based in United Kingdom, saw a decent share price growth in the teens level on the LSE over the last few months. … Since Clarkson’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations.

Simply Wall St -

Is Clarkson PLC's (LON:CKN) Future Growth Already Accounted For In Today's Price?

As the legendary value investor Ben Graham once said, “Price is what you pay, value is what you get.” Clarkson is trading at price-to-earnings (PE) ratio of 24.78x, which tells us the stock is overvalued based on current earnings compared to the Shipping industry average of 13.92x , and overvalued compared to the GB market average ratio of 16.17x. … However, seeing as Clarkson is perceived as a high-growth stock, we must also account for its earnings growth, which is captured in the PEG ratio. … This means that, when we account for Clarkson's growth, the stock can be viewed as overvalued , based on fundamental analysis.

Simply Wall St -

Is Clarkson PLC's (LON:CKN) CEO Salary Justified?

We examined companies with market caps from UK£315m to UK£1.3b, and discovered that the median CEO total compensation of that group was UK£883k. … Thus we can conclude that Andi Case receives more in total compensation than the median of a group of companies in the same market, and of similar size to Clarkson PLC. … We compared the total CEO remuneration paid by Clarkson PLC, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

How Clarkson PLC (LON:CKN) Can Impact Your Portfolio Volatility

If you're interested in Clarkson PLC (LON:CKN), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Given that it has a beta of 1.39, we can surmise that the Clarkson share price has been fairly sensitive to market volatility (over the last 5 years).

Simply Wall St -

Read This Before Buying Clarkson PLC (LON:CKN) For Its Dividend

Click the interactive chart for our full dividend analysis LSE:CKN Historical Dividend Yield, May 13th 2019 Payout ratios Companies (usually) pay dividends out of their earnings. … We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. … Unfortunately, earnings growth has also been mediocre, and we think it has not been paying dividends long enough to demonstrate resilience across economic cycles.

Simply Wall St -

The Clarkson (LON:CKN) Share Price Has Gained 12% And Shareholders Are Hoping For More

For example, the Clarkson PLC (LON:CKN) share price return of 12% over three years lags the market return in the same period. … 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, Clarkson achieved compound earnings per share growth of 13% per year.

Simply Wall St -

CKN Company Info

Description

Clarkson PLC provides integrated shipping services worldwide. It operates through four segments: Broking, Financial, Support, and Research. The Broking segment includes services provided to ship owners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as arranges principal-to-principal cash-settled contracts for differences based upon standardized freight contracts. This segment deals in containers, dry cargo, deep sea tankers, liquefied petroleum gas and ammonia, liquefied natural gas, offshore, petrochemical gases, renewables, shortsea, specialized products, sale and purchase, and PCTC markets; and towage, salvage, and transportation markets. The Financial segment offers investment banking services for maritime, oil services, and natural resources sectors; structured asset finance services and projects in the shipping, offshore, and real estate sectors; and freight derivative products. This segment also provides equity and fixed income sales and trading; equity and credit research; corporate access and corporate finance services, including advising clients on various equity and debt capital markets, and M&A transactions. The Support segment offers port and agency, freight forwarding, supplies, and tools for the marine and offshore industries. The Research segment provides shipping-related information and publications; and collects, validates, analyses, and manages data to inform various business decisions. This segment offers Web products, such as Shipping Intelligence Network and World Fleet Register to printed publications, including Shipping Intelligence Weekly and Offshore Intelligence Monthly; data and analysis services for IPO and bond issues; customer service contracts; and valuations to owners and the financial community. The company also provides property related services. Clarkson PLC was founded in 1852 and is headquartered in London, the United Kingdom.

Details
Name: Clarkson PLC
CKN
Exchange: LSE
Founded: 1852
£785,397,912
30,207,612
Website: http://www.clarksons.com
Address: Clarkson PLC
Commodity Quay,
St. Katharine Docks,
London,
Greater London, E1W 1BF,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE CKN Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK CKNH.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 1DH Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE CKNl Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,584
Clarkson employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 20:36
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/10
Last earnings filing: 2019/04/03
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.