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John Menzies

LSE:MNZS
Snowflake Description

Good value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MNZS
LSE
£348M
Market Cap
  1. Home
  2. GB
  3. Transportation
Company description

John Menzies plc provides distribution and aviation services in the United Kingdom, the United States, and internationally. The last earnings update was 104 days ago. More info.


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MNZS Share Price and Events
7 Day Returns
-2.1%
LSE:MNZS
2.8%
GB Infrastructure
0.3%
GB Market
1 Year Returns
-29%
LSE:MNZS
-11.2%
GB Infrastructure
-1.9%
GB Market
MNZS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
John Menzies (MNZS) -2.1% -10.3% -13.7% -29% -30.6% -34.8%
GB Infrastructure 2.8% 5.5% 4.2% -11.2% 16.5% -21.6%
GB Market 0.3% 1.9% 0.4% -1.9% 11.4% 6.7%
1 Year Return vs Industry and Market
  • MNZS underperformed the Infrastructure industry which returned -11.2% over the past year.
  • MNZS underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -1.9% over the past year.
Price Volatility
MNZS
Industry
5yr Volatility vs Market

Value

 Is John Menzies 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 John Menzies 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 John Menzies.

LSE:MNZS 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 9.6%
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:MNZS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.837 (1 + (1- 19%) (80.26%))
1.256
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.256 * 6.65%)
9.58%

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

The calculations below outline how an intrinsic value for John Menzies 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:MNZS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.58%)
2020 35.03 Analyst x3 31.97
2021 40.27 Analyst x3 33.54
2022 49.30 Analyst x1 37.47
2023 53.20 Analyst x1 36.90
2024 56.23 Est @ 5.7% 35.59
2025 58.68 Est @ 4.36% 33.90
2026 60.69 Est @ 3.42% 31.99
2027 62.36 Est @ 2.76% 30.00
2028 63.80 Est @ 2.3% 28.01
2029 65.06 Est @ 1.98% 26.07
Present value of next 10 years cash flows £325.44
LSE:MNZS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £65.06 × (1 + 1.23%) ÷ (9.58% – 1.23%)
£788.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £788.68 ÷ (1 + 9.58%)10
£316.00
LSE:MNZS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £325.44 + £316.00
£641.44
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £641.44 / 83.23
£7.71
LSE:MNZS Discount to Share Price
Calculation Result
Value per share (GBP) From above. £7.71
Current discount Discount to share price of £4.18
= -1 x (£4.18 - £7.71) / £7.71
45.8%

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

Current Discount
Amount off the current price John Menzies is available for.
Intrinsic value
46%
Share price is £4.18 vs Future cash flow value of £7.71
Current Discount Checks
For John Menzies to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • John Menzies's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • John Menzies's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for John Menzies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are John Menzies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:MNZS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.15
LSE:MNZS Share Price ** LSE (2019-07-18) in GBP £4.18
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry PE Ratio Median Figure of 6 Publicly-Listed Infrastructure Companies 30.12x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 791 Publicly-Listed Companies 16.52x

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

** Primary Listing of John Menzies.

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

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

= 4.18 ÷ 0.15

28.68x

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

  • John Menzies is good value based on earnings compared to the GB Infrastructure industry average.
  • John Menzies is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does John Menzies's expected growth come at a high price?
Raw Data
LSE:MNZS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
28.9%per year
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry PEG Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 2.1x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 572 Publicly-Listed Companies 1.43x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.68x ÷ 28.9%

0.99x

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

  • John Menzies is good value based on expected growth next year.
Price based on value of assets
What value do investors place on John Menzies's assets?
Raw Data
LSE:MNZS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £1.26
LSE:MNZS Share Price * LSE (2019-07-18) in GBP £4.18
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry PB Ratio Median Figure of 8 Publicly-Listed Infrastructure Companies 2.13x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,377 Publicly-Listed Companies 1.51x
LSE:MNZS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.18 ÷ 1.26

3.33x

* Primary Listing of John Menzies.

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

  • John Menzies is overvalued based on assets compared to the GB Infrastructure industry average.
X
Value checks
We assess John Menzies'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. John Menzies has a total score of 4/6, 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 John Menzies 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
28.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is John Menzies expected to grow at an attractive rate?
  • John Menzies's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • John Menzies's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • John Menzies'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:MNZS Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:MNZS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 28.9%
LSE:MNZS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 3.6%
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
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 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:MNZS 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:MNZS Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,542 1
2022-12-31 1,497 1
2021-12-31 1,463 68 34 4
2020-12-31 1,409 61 31 4
2019-12-31 1,357 51 25 4
LSE:MNZS Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 1,291 29 12
2018-09-30 1,290 12
2018-06-30 2,476 51 25
2018-03-31 2,468 46 19
2017-12-31 1,274 41 0
2017-09-30 1,456 2
2017-06-30 1,638 12 4
2017-03-31 1,810 18 6
2016-12-31 1,983 24 9
2016-09-30 1,942 7
2016-06-30 1,901 28 6
2016-03-31 1,900 26 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • John Menzies's earnings are expected to grow significantly at over 20% yearly.
  • John Menzies's revenue is expected to grow by 3.6% 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:MNZS 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 John Menzies Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:MNZS Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.47 0.47 0.47 1.00
2020-12-31 0.44 0.44 0.44 1.00
2019-12-31 0.35 0.35 0.35 1.00
LSE:MNZS Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.15
2018-09-30 0.14
2018-06-30 0.29
2018-03-31 0.22
2017-12-31 0.00
2017-09-30 0.02
2017-06-30 0.05
2017-03-31 0.08
2016-12-31 0.12
2016-09-30 0.10
2016-06-30 0.08
2016-03-31 0.11

*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 John Menzies will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess John Menzies'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.
John Menzies 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 John Menzies 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 John Menzies's growth in the last year to its industry (Infrastructure).
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.
  • John Menzies's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • John Menzies's 1-year earnings growth exceeds its 5-year average (12100% vs -21.2%)
  • John Menzies's earnings growth has exceeded the Europe Infrastructure industry average in the past year (12100% vs 8.7%).
Earnings and Revenue History
John Menzies'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 John Menzies Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:MNZS 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 1,291.00 12.20 871.50
2018-09-30 1,290.05 12.10 869.85
2018-06-30 2,476.00 24.50 857.50
2018-03-31 2,468.25 18.55 857.70
2017-12-31 1,273.60 0.10 868.60
2017-09-30 1,455.90 1.90 725.85
2017-06-30 1,638.20 3.70 583.10
2017-03-31 1,810.35 6.10 583.05
2016-12-31 1,982.50 8.50 583.00
2016-09-30 1,941.80 7.10 545.50
2016-06-30 1,901.10 5.70 508.00
2016-03-31 1,900.15 7.90 508.05
2015-12-31 1,899.20 10.10 508.10
2015-09-30 1,905.90 8.50 529.00
2015-06-30 1,912.60 6.90 549.90
2015-03-31 1,907.75 10.40 549.85
2014-12-31 1,902.90 13.90 549.80
2014-09-30 1,900.45 20.45 513.25
2014-06-30 1,898.00 27.00 476.70
2014-03-31 1,901.70 28.70 476.85
2013-12-31 1,905.40 30.40 477.00
2013-09-30 1,909.85 25.55 463.10
2013-06-30 1,914.30 20.70 449.20
2013-03-31 1,908.90 19.75 449.35
2012-12-31 1,903.50 18.80 449.50
2012-09-30 1,901.15 28.60 440.35

*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.
  • John Menzies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • John Menzies used its assets less efficiently than the GB Infrastructure industry average last year based on Return on Assets.
  • John Menzies's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess John Menzies'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 Infrastructure 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.
John Menzies 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.

Health

 How is John Menzies'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 John Menzies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • John Menzies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • John Menzies's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of John Menzies'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.
  • Debt is covered by short term assets, assets are 1.6x 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 John Menzies Company Filings, last reported 6 months ago.

LSE:MNZS Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 101.30 279.20 78.00
2018-09-30 101.30 279.20 78.00
2018-06-30 113.10 309.10 65.70
2018-03-31 113.10 309.10 65.70
2017-12-31 132.50 288.70 72.80
2017-09-30 132.50 288.70 72.80
2017-06-30 123.40 301.60 67.00
2017-03-31 123.40 301.60 67.00
2016-12-31 125.20 104.10 38.90
2016-09-30 125.20 104.10 38.90
2016-06-30 72.10 162.60 46.20
2016-03-31 72.10 162.60 46.20
2015-12-31 71.20 156.00 34.10
2015-09-30 71.20 156.00 34.10
2015-06-30 77.90 160.50 37.20
2015-03-31 77.90 160.50 37.20
2014-12-31 69.70 143.90 32.80
2014-09-30 69.70 143.90 32.80
2014-06-30 83.80 141.80 25.20
2014-03-31 83.80 141.80 25.20
2013-12-31 96.30 141.20 33.80
2013-09-30 96.30 141.20 33.80
2013-06-30 92.40 139.50 27.70
2013-03-31 92.40 139.50 27.70
2012-12-31 83.50 127.90 34.00
2012-09-30 79.20 127.90 34.90
  • John Menzies's level of debt (275.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (146.8% vs 275.6% today).
  • Debt is not well covered by operating cash flow (10.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
X
Financial health checks
We assess John Menzies'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. John Menzies has a total score of 3/6, 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 John Menzies'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
4.9%
Current annual income from John Menzies dividends. Estimated to be 5.16% next year.
If you bought £2,000 of John Menzies shares you are expected to receive £98 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?
  • John Menzies's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.94%).
  • John Menzies's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.46%).
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:MNZS 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
United Kingdom of Great Britain and Northern Ireland Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4%
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 1.9%
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:MNZS Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.23 1.00
2021-12-31 0.23 4.00
2020-12-31 0.21 4.00
2019-12-31 0.20 4.00
LSE:MNZS Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-17 0.205 4.516
2018-08-14 0.205 3.897
2018-05-18 0.205 3.272
2017-03-28 0.185 2.701
2017-03-08 0.185 3.008
2016-04-05 0.168 3.049
2016-03-08 0.168 3.606
2015-08-18 0.100 2.445
2015-04-07 0.162 3.584
2015-03-10 0.162 4.282
2014-03-05 0.265 5.320
2013-03-05 0.252 3.399
2012-03-06 0.240 3.848
2011-03-08 0.190 3.691
2011-03-07 0.190 4.289
2010-08-19 0.100 2.189
2010-03-09 0.080 2.149
2009-08-19 0.000 0.000
2009-03-10 0.000 0.000
2009-03-02 0.000 0.000
2008-08-21 0.260 20.913

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of John Menzies's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess John Menzies'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 John Menzies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. John Menzies has a total score of 2/6, 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 John Menzies'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
Giles Wilson
COMPENSATION £1,921,000
AGE 46
TENURE AS CEO 0.3 years
CEO Bio

Mr. Giles Wilson has been the Chief Financial Officer and Executive Director at John Menzies plc since June 1, 2016 and since June 6, 2016 respectively. Mr. Wilson has been Chief Executive Officer of John Menzies plc since June 6, 2019 served as its Interim Chief Executive Officer since March 12, 2019 until June 6, 2019. He has great financial acumen and a deep knowledge of the Aviation Services market to his role on the Board. He has worked with the John Menzies Group since 2011 in a variety of senior roles. He served as Finance Director of Menzies Aviation and Senior Vice President of the John Menzies Group’s African, Middle East and Indian Operations. Mr. Wilson served as an Executive Vice President of Finance at Menzies Aviation plc since April 2011 and served as its Member of Management Board. He served as Head of UK Commercial Finance of Gallaher Group Ltd. since March 2003. He joined Gallaher in 2000. He worked for 5 years as Finance Director for Commercial Estates Group Ltd. From 2000 to 2006, he was working at Gallaher Group Plc, where in the first three years he was in the business development function working on a number of successful acquisitions and latterly as Finance Director for Gallaher UK, the largest division accounting for half Gallaher Group Plc profits. He held senior finance positions at Gallaher Group PLC. Mr. Wilson is a chartered accountant qualified with PricewaterhouseCoopers in 1999 and holds a degree in Civil Engineering. He is Director of various Group companies.

CEO Compensation
  • Giles's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Giles'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 John Menzies management team in years:

2.6
Average Tenure
50
Average Age
  • The tenure for the John Menzies management team is about average.
Management Team

Giles Wilson

TITLE
CEO, CFO & Executive Director
COMPENSATION
£2M
AGE
46
TENURE
0.3 yrs

John F. Geddes

TITLE
Corporate Affairs Director
COMPENSATION
£2M
AGE
50
TENURE
13.5 yrs

Claire Hall

TITLE
Group Executive Vice President of People

Philip Harnden

TITLE
Executive Vice President of Commercial - Menzies Aviation
AGE
54

Andy Lord

TITLE
Executive Vice President of Europe
TENURE
2.7 yrs

Greg Michael

TITLE
Managing Director of Menzies Distribution
TENURE
2.5 yrs

Terry Trainor

TITLE
Senior Vice-President of US Operations - Menzies Aviation

Paul Walton

TITLE
Senior Vice President of Sales & Commercial Operations – Americas
Board of Directors Tenure

Average tenure and age of the John Menzies board of directors in years:

3
Average Tenure
63
Average Age
  • The tenure for the John Menzies board of directors is about average.
Board of Directors

Philipp Joeinig

TITLE
Chairman
COMPENSATION
£43K

Giles Wilson

TITLE
CEO, CFO & Executive Director
COMPENSATION
£2M
AGE
46
TENURE
3.1 yrs

David N. Garman

TITLE
Deputy Chairman & Senior Independent Director
COMPENSATION
£52K
AGE
67

John F. Geddes

TITLE
Corporate Affairs Director
COMPENSATION
£2M
AGE
50
TENURE
2.7 yrs

Silla Maizey

TITLE
Non-Executive Director
COMPENSATION
£46K
TENURE
5.2 yrs

Paul Baines

TITLE
Non-Executive Director
COMPENSATION
£46K
AGE
63
TENURE
3.1 yrs

Dermot Smurfit

TITLE
Director
COMPENSATION
£253K
AGE
74
TENURE
3 yrs

Christian Kappelhoff-Wulff

TITLE
Non-Executive Director
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by John Menzies individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
08. Jul 19 Buy Lakestreet Capital Partners AG Company 05. Jul 19 05. Jul 19 60,000 £3.79 £227,400
08. Jul 19 Buy John F. Geddes Individual 05. Jul 19 05. Jul 19 4,869 £3.95 £19,233
08. Jul 19 Buy Giles Wilson Individual 05. Jul 19 05. Jul 19 2,554 £4.08 £9,944
08. Jul 19 Buy David N. Garman Individual 05. Jul 19 05. Jul 19 13,700 £3.65 £50,005
08. Nov 18 Buy Dermot Smurfit Individual 08. Nov 18 08. Nov 18 20,000 £5.15 £102,920
28. Sep 18 Buy Philipp Joeinig Individual 26. Sep 18 26. Sep 18 50,000 £5.55 £277,494
12. Sep 18 Buy Drusilla Maizey Individual 11. Sep 18 11. Sep 18 3,415 £5.84 £19,915
X
Management checks
We assess John Menzies'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. John Menzies 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

The John Menzies (LON:MNZS) Share Price Is Down 33% So Some Shareholders Are Getting Worried

At this point some shareholders may be questioning their investment in John Menzies plc (LON:MNZS), since the last five years saw the share price fall 33%. … Looking back five years, both John Menzies's share price and EPS declined; the latter at a rate of 22% per year. … John Menzies is not the only stock insiders are buying.

Simply Wall St -

Did John Menzies plc (LON:MNZS) Use Debt To Deliver Its ROE Of 12%?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for John Menzies: 12% = UK£12m ÷ UK£101m (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. … Combining John Menzies's Debt And Its 12% Return On Equity John Menzies clearly uses a significant amount of debt to boost returns, as it has a debt to equity ratio of 2.76.

Simply Wall St -

Need To Know: John Menzies plc (LON:MNZS) Insiders Have Been Buying Shares

See our latest analysis for John Menzies John Menzies Insider Transactions Over The Last Year In the last twelve months, the biggest single purchase by an insider was when Non-Executive Director Philipp Joeinig bought UK£277k worth of shares at a price of UK£5.55 per share. … LSE:MNZS Recent Insider Trading, May 14th 2019 John Menzies is not the only stock that insiders are buying. … While we have no worries about the insider transactions, we'd be more comfortable if they owned more John Menzies stock.

Simply Wall St -

A Look At The Intrinsic Value Of John Menzies plc (LON:MNZS)

by estimating the company's future cash flows and discounting them to their present value. … I will use the Discounted Cash Flow (DCF) model! … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

How Does John Menzies plc (LON:MNZS) Fare As A Dividend Stock?

Historically, John Menzies plc (LON:MNZS) has been paying a dividend to shareholders. … Let's dig deeper into whether John Menzies should have a place in your portfolio. … View our latest analysis for John Menzies

Simply Wall St -

Here's What John Menzies plc's (LON:MNZS) P/E Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll show how you can use John Menzies plc's (LON:MNZS) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

John Menzies Shareholders Booked A 26% Gain In The Last Three Years

That's what has happened with the John Menzies plc (LON:MNZS) share price. … 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 three years of share price growth, John Menzies achieved compound earnings per share growth of 8.9% per year.

Simply Wall St -

Is John Menzies plc (LON:MNZS) A High Quality Stock To Own?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each £1 of shareholders' equity it has, the company made £0.21 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Do John Menzies plc’s (LON:MNZS) Returns Compare To Its Industry?

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 measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Does John Menzies plc's (LON:MNZS) Stock Price Account For Its Growth?

John Menzies plc (LON:MNZS) closed yesterday at £4.9, which left some investors asking whether the high earnings potential can still be justified at this price. … What can we expect from John Menzies in the future. … John Menzies's extremely high growth potential in the near future is attracting investors

Simply Wall St -

Company Info

Description

John Menzies plc provides distribution and aviation services in the United Kingdom, the United States, and internationally. The Distribution segment offers newspaper and magazine distribution services. This segment also provides marketing and logistics services. The Aviation segment offers ground handling and cargo services; cargo forwarding services; and fuelling and fuel farm management services. John Menzies plc was founded in 1833 and is based in Edinburgh, the United Kingdom.

Details
Name: John Menzies plc
MNZS
Exchange: LSE
Founded: 1833
£347,881,795
83,225,310
Website: http://www.johnmenziesplc.com
Address: John Menzies plc
2 Lochside Avenue,
Edinburgh Park,
Edinburgh,
EH12 9DJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MNZS Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK MZTL.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
BATS-CHIXE MNZSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
31,864
John Menzies employees.
Industry
Airport Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 20:43
End of day share price update: 2019/07/18 00:00
Last estimates confirmation: 2019/07/11
Last earnings filing: 2019/04/05
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.