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Pennon Group

LSE:PNN
Snowflake Description

6 star dividend payer with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PNN
LSE
£3B
Market Cap
  1. Home
  2. GB
  3. Utilities
2018/02/24
Company description

Pennon Group Plc engages in the environmental infrastructure businesses worldwide. More info.


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  • Pennon Group has significant price volatility in the past 3 months.
SHARE PRICE
3 Month History
PNN
Industry
5yr Volatility vs Market

Value

 Is Pennon Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pennon Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.

How is this discounted cash flow calculated?

Current Discount
Amount off the current price Pennon Group is available for.
Intrinsic value
1%
Share price is £6.38 vs Future cash flow value of £6.43
Current Discount Checks
For Pennon Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pennon Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Pennon Group'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 Pennon Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pennon Group's earnings available for a low price, and how does this compare to other companies in the same industry?
  • Pennon Group is overvalued based on earnings compared to the Global Water Utilities industry average.
  • Pennon Group is good value based on earnings compared to the GB market.
Price based on expected Growth
Does Pennon Group's expected growth come at a high price?
  • Pennon Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pennon Group's assets?
  • Pennon Group is good value based on assets compared to the Global Water Utilities industry average.
X
Value checks
We assess Pennon Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Water Utilities 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 Water Utilities industry average (and greater than 0)? (1 check)
  5. Pennon Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
    Note 2: PEG ratio is based on analysts EPS growth expectations in 1 year (7.09%).

    Full details on the Value part of the Simply Wall St company analysis model.
X
Discounted cash flow (2 Stage Free Cash Flow to Equity)

The calculations below outline how an intrinsic value for Pennon Group is arrived at by discounting future cash flows to their present value. We use analyst's estimates of cash flows going forward 5 years.

See our documentation to learn about this calculation.

5 year cash flow forecast

Present value of next 5 years cash flows:
£697

Terminal Value

Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)

Terminal Value = £200 × (1 + 1.49%) ÷ (8.3% – 1.49%)

Terminal value based on the Perpetuity Method where growth (g) = 1.49%:
£2,978

Present value of terminal value:
£1,999

Equity Value

Equity Value (Total value) = Present value of next 5 years cash flows + terminal value
£2,696 = £697 + £1,999

Value = Total value / Shares Outstanding (£2,696 / 419)

Discount to Share Price

Value per share:
£6.43

Current discount (share price of £6.38): 0.78%



Estimate of Discount Rate

The discount rate, or required rate of return, is estimated by calculating the Cost of Equity.

Discount rate = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)

Discount rate = 8.3% = 1.49% + (0.8 * 8.51%)



Estimate of Bottom Up Beta

The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is limited to 0.8 to 2.0 (practical range for a stable firm). Note the market value of equity is used not the book value (£2,598,546,673).

Levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))

0.786 = 0.382 (1 + (1- 19%) (130.5%))

Levered Beta used in calculation = 0.8



Assumptions
  1. The risk free rate of 1.49% is from the 10 year government bond rate in GBP.
  2. The bottom-up beta is estimated by analysing other companies in the same industry.
  3. The Equity Risk Premium is calculated by subtracting the risk free rate from the market return premium (8.51%) (source: Buffet).
  4. The dividend discount model is automatically used for companies in the following industries: Banks, Insurance, Real Estate Investment Trusts (REITs), Diversified Financial Services and Capital Markets.

Future Performance

 How is Pennon Group expected to perform in the next 1 to 3 years based on estimates from 12 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
11.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pennon Group expected to grow at an attractive rate?
  • Pennon Group's earnings growth is expected to exceed the low risk savings rate of 4.5%.
Growth vs Market Checks
  • Pennon Group's earnings growth is positive but not above the GB market average.
  • Pennon Group's revenue growth is positive but not above the GB market average.
Annual Growth Rates Comparison
Analysts growth expectations
Super high growth metrics
High Growth Checks
  • Pennon Group's earnings are expected to grow by 11.6% yearly, however this is not considered high growth (20% yearly).
  • Pennon Group's revenue is expected to grow by 3.2% 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.
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.
  • Pennon Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
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Future performance checks
We assess Pennon Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the XX market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the XX 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.
Pennon Group 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.

Past Performance

  How has Pennon Group 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 Pennon Group's growth in the last year to its industry (Water Utilities).
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.
  • Pennon Group's year on year earnings growth rate has been positive over the past 5 years.
  • Pennon Group's 1-year earnings growth exceeds its 5-year average (16.6% vs 1.3%)
  • Pennon Group's earnings growth has exceeded the Global Water Utilities industry average in the past year (16.6% vs 12.1%).
Earnings and Revenue History
Pennon Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
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.
  • Pennon Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pennon Group used its assets less efficiently than the Global Water Utilities industry average last year based on Return on Assets.
  • Pennon Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
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Past performance checks
We assess Pennon Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Water Utilities 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.
Pennon Group has a total score of 4/6, see the detailed checks below.

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

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

Health

 How is Pennon Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pennon Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pennon Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pennon Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pennon Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x 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.
  • Pennon Group's level of debt (224%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (324% vs 224% today).
  • Debt is not well covered by operating cash flow (8.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
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Financial health checks
We assess Pennon Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by short term assets? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pennon Group has a total score of 3/6, see the detailed checks below.


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

Dividends

 What is Pennon Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.64%
Current annual income from Pennon Group dividends. Estimated to be 6.48% next year.
If you bought £2,000 of Pennon Group shares you are expected to receive £113 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?
  • Pennon Group's dividend is above the low risk savings rate (2.3%).
  • Pennon Group's dividend is above the markets top dividend payers (3.98%).
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.
  • 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 Pennon Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by net profit (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by net profit (1.3x coverage).
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Income/ dividend checks
We assess Pennon Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.5%) - if not then the rest of the checks are ignored.
  2. Current dividend yield, is there one at all, is it higher than the low risk savings rate, and is it above the top 25% of dividend payers? (2 checks)
  3. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  4. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  5. How sustainable is the dividend, can Pennon Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  6. Pennon Group has a total score of 6/6, 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 Pennon Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chris Loughlin, image provided by Google.
Chris Loughlin
COMPENSATION £1,318,000
AGE 64
TENURE AS CEO 2.1 years
CEO Bio

Mr. Christopher Loughlin, also known as Chris, BSc Hons, MICE, CEng, MBA, has been Group Chief Executive Officer of Pennon Group Plc since January 1, 2016. Mr. Loughlin served as the Chief Executive Officer of South West Water Limited from August 1, 2006 to December 31, 2015. Mr. Loughlin served as Chief Operating Officer of Lloyd's Register. He started his career as a Consulting Engineer and subsequently held a number of senior positions at British Nuclear Fuels. He served as an Executive Chairman of Magnox Electric Plc. He serves as Non-Executive Director of Bournemouth Water Ltd. He has been an Executive Director at Pennon Group Plc since August 1, 2006. He served as an Executive Director of British Nuclear Fuels Ltd. Mr. Loughlin is a chartered civil engineer and has an honours degree in civil engineering and an MBA.

CEO Compensation
  • Chris's compensation has been consistent with company performance over the past year.
  • Chris's compensation appears reasonable for a company of this size and profit level.
Management Team Tenure

Average tenure of the Pennon Group management team in years:

2
Average Tenure
  • The tenure for the Pennon Group management team is about average.
Management Team

Chris Loughlin

TITLE
Group CEO
COMPENSATION
£1M
AGE
64
TENURE
2.1 yrs

Susan Davy

TITLE
CFO, Member of Executive Management Board & Executive Director
COMPENSATION
£922K
TENURE
1.8 yrs

Sarah Heald

TITLE
Director of Corporate Affairs & Investor Relations

Helen Barrett-Hague

TITLE
Group General Counsel & Company Secretary
TENURE
1.9 yrs

Adele Barker

TITLE
Interim Group Director of Human Resources

Stephen Bird

TITLE
Managing Director of South West Water
TENURE
2.1 yrs

Steve Holmes

TITLE
Director of Safety

Ed Mitchell

TITLE
Director of Environment & Interim Operations Director of Wastewater Services - South West Water

Phil Piddington

TITLE
Managing Director of Viridor

Paul Ringham

TITLE
Commercial Director of Viridor
Board of Directors Tenure

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

3.4
Average Tenure
63.8
Average Age
  • The tenure for the Pennon Group board of directors is about average.
Board of Directors

John Parker

TITLE
Chairman
COMPENSATION
£266K
AGE
75
TENURE
2.5 yrs

Chris Loughlin

TITLE
Group CEO
COMPENSATION
£1M
AGE
64
TENURE
1.5 yrs

Susan Davy

TITLE
CFO, Member of Executive Management Board & Executive Director
COMPENSATION
£922K
TENURE
3 yrs

Martin Angle

TITLE
Independent Non-Executive Director
COMPENSATION
£67K
AGE
67
TENURE
9.2 yrs

Gill Rider

TITLE
Senior Independent Director
COMPENSATION
£72K
AGE
62
TENURE
2.6 yrs

Neil Cooper

TITLE
Independent Non-Executive Director
COMPENSATION
£66K
AGE
50
TENURE
3.4 yrs

Martin Hagen

TITLE
Non-Executive Director of South West Water
AGE
65
TENURE
1.8 yrs

Matthew Taylor

TITLE
Non-Executive Director of South West Water
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Pennon Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of 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. Pennon Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

Company News

External News
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Simply Wall St News

Estimating The Intrinsic Value Of Pennon Group Plc (LON:PNN)

I am going to run you through how I calculated the intrinsic value of Pennon Group Plc (LSE:PNN) by estimating the company's future cash flows and discounting them to their present value. … 5-year cash flow predict 2018 2019 2020 2021 2022 Levered FCF (£, Millions) £125.00 £183.00 £190.00 £194.82 £199.76 Source Analyst x1 Analyst x1 Analyst x1 Extrapolated @ (2.54%) Extrapolated @ (2.54%) Present Value Discounted @ 8.3% £115.42 £156.03 £149.59 £141.63 £134.09 Present Value of 5-year Cash Flow (PVCF)= £697 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = £200 × (1 + 1.5%) ÷ (8.3% – 1.5%) = £2,978 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = £2,978 / ( 1 + 8.3%)5 = £1,999 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is £2,696.

Simply Wall St -

Why Pennon Group Plc (LON:PNN) Should Be In Your Portfolio

See our latest analysis for Pennon Group Here's how I find good dividend stocks When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it the top 25% annual dividend yield payer? … LSE:PNN Historical Dividend Yield Feb 9th 18 Does Pennon Group pass our checks? … Next Steps: Considering the dividend attributes we analyzed above, Pennon Group is definitely worth keeping an eye on for someone looking to build a dedicated income portfolio.

Simply Wall St -

Should Income Investors Buy Pennon Group Plc (LON:PNN) Today And Lock In The 4.95% Dividend Yield?

With a market cap of £3.05B, Pennon Group pays out 83.88% of its earnings, leading to a 4.95% yield. … View our latest analysis for Pennon Group What Is A Dividend Rock Star? … More specifically: Its annual yield is among the top 25% of dividend payers It has paid dividend every year without dramatically reducing payout in the past Its has increased its dividend per share amount over the past It is able to pay the current rate of dividends from its earnings It has the ability to keep paying its dividends going forward High Yield And Dependable Pennon Group's dividend yield stands at 4.95%, which is high for Water Utilities stocks.

Simply Wall St -

Pennon Group Plc (LON:PNN): What You Have To Know Before Buying For The Upcoming Dividend

Check out our latest analysis for Pennon Group What Is A Dividend Rock Star? … More specifically: Its annual yield is among the top 25% of dividend payers It consistently pays out dividend without missing a payment or significantly cutting payout Its has increased its dividend per share amount over the past It is able to pay the current rate of dividends from its earnings It has the ability to keep paying its dividends going forward High Yield And Dependable Pennon Group currently yields 4.85%, which is high for water utilities stocks. … Next Steps: There aren't many other stocks out there with the same track record as Pennon Group, so I would certainly recommend further examining the stock if its dividend characteristics appeal to you.

Simply Wall St -

Why Pennon Group Plc (LON:PNN) Could Be A Buy

Pennon Group Plc (LSE:PNN), a water utilities company based in United Kingdom, saw its share price hover around a small range of £7.62 to £8.22 over the last few weeks. … This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again. … If you believe Pennon Group should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

Top LSE Dividend Picks For The Day

LSE:PNN Historical Dividend Yield Dec 23rd 17 Meggitt PLC (LSE:MGGT) Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. … LSE:MGGT Historical Dividend Yield Dec 23rd 17 Severn Trent Plc (LSE:SVT) Severn Trent Plc operates as a water and sewerage company in the United Kingdom, the United States, and internationally. … LSE:SVT Historical Dividend Yield Dec 23rd 17 For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.

Simply Wall St -

How Financially Strong Is Pennon Group Plc (LON:PNN)?

View our latest analysis for Pennon Group Is PNN’s level of debt at an acceptable level? … To assess this, I compare PNN's cash and other liquid assets against its upcoming debt. … PNN’s high debt levels are not met with high cash flow coverage.

Simply Wall St -

LSE Top Utilities Dividend Paying Stocks

LSE:PNN Historical Dividend Yield Dec 10th 17 Severn Trent Plc (LSE:SVT) SVT has a great dividend yield of 4.15% and is paying out 67.28% of profits as dividends , with an expected payout of 71.69% in three years. … LSE:SVT Historical Dividend Yield Dec 10th 17 United Utilities Group PLC (LSE:UU.) UU. … Historical Dividend Yield Dec 10th 17 For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.

Simply Wall St -

Did Pennon Group Plc (LSE:PNN) Create Value For Shareholders?

Check out our latest analysis for Pennon Group What you must know about ROE Return on Equity (ROE) weighs PNN’s profit against the level of its shareholders’ equity. … ROE can be broken down into three different ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity LSE:PNN Last Perf Dec 4th 17 Essentially, profit margin shows how much money the company makes after paying for all its expenses.

Simply Wall St -

Is Pennon Group Plc (LSE:PNN) Worth £7.81 Based On Its Intrinsic Value?

In this article I am going to calculate the intrinsic value of Pennon Group Plc (LSE:PNN) by taking the expected future cash flows and discounting them to their present value. … 5-year cash flow estimate 2017 2018 2019 2020 2021 Levered FCF (GBP, Millions) £128.00 £119.00 £150.00 £195.00 £200.31 Source Analyst x1 Analyst x1 Analyst x2 Analyst x2 Extrapolated @ (2.72%) Present Value Discounted @ 8.3% £118.19 £101.46 £118.09 £141.76 £134.46 Present Value of 5-year Cash Flow (PVCF)= £614 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … LSE:PNN Intrinsic Value Nov 19th 17 The assumptions I'd like to point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Company Info

Map
Description

Pennon Group Plc engages in the environmental infrastructure businesses worldwide. The company operates through Water, and Waste Management segments. The Water segment comprises the regulated water and wastewater services for customers in Cornwall, Devon, and parts of Dorset and Somerset serving 1.7 million customers; and water services in the areas of Dorset, Hampshire, and Wiltshire serving approximately 0.5 million customers. The Waste Management segment provides recycling, energy recovery, and waste management services serving approximately 150 local authorities and corporate clients, as well as 32,000 customers across the United Kingdom. The company operates 8 energy recovery facilities; 300 recycling, energy recovery, and waste management facilities; and 650 waste collection vehicles securing materials. Pennon Group Plc was incorporated in 1989 and is based in Exeter, the United Kingdom.

Details
Name: Pennon Group Plc
PNN
Exchange: LSE
Founded: 1989
£2,598,546,673
419,391,006
Website: http://www.pennon-group.co.uk
Address: Pennon Group Plc
Peninsula House,
Rydon Lane,
Exeter,
Devon, EX2 7HR,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE PNN Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK PEGR.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 3PNA Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE PNNL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK PEGR.Y ADR Pink Sheets LLC US USD 12. Feb 2009
Number of employees
Current staff
Staff numbers
5,000
Pennon Group employees.
Industry
Water Utilities
Utilities
Company Analysis and Financial Data Status
Area Date
Company Analysis updated: 2018/02/24
Last estimates confirmation: 2018/02/13
Last earnings update: 2017/09/30
Last annual earnings update: 2017/03/31


All dates 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.