ISE:GVR

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Glenveagh Properties PLC, a homebuilder, builds and sells houses and apartments for the private buyers and local authorities in the Greater Dublin Area, Ireland.


Snowflake Analysis

High growth potential and good value.


Similar Companies

Share Price & News

How has Glenveagh Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GVR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

5.8%

GVR

5.3%

IE Consumer Durables

0.4%

IE Market


1 Year Return

1.4%

GVR

-8.3%

IE Consumer Durables

-0.6%

IE Market

Return vs Industry: GVR exceeded the Irish Consumer Durables industry which returned -8.4% over the past year.

Return vs Market: GVR exceeded the Irish Market which returned -0.3% over the past year.


Shareholder returns

GVRIndustryMarket
7 Day5.8%5.3%0.4%
30 Day15.1%6.6%3.7%
90 Day27.0%14.6%16.6%
1 Year1.4%1.4%-4.9%-8.3%0.7%-0.6%
3 Yearn/a-4.0%-17.1%2.4%-2.3%
5 Yearn/a26.5%0.4%27.5%18.0%

Price Volatility Vs. Market

How volatile is Glenveagh Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Glenveagh Properties undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GVR (€0.73) is trading below our estimate of fair value (€3.53)

Significantly Below Fair Value: GVR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GVR is poor value based on its PE Ratio (27.8x) compared to the XE Consumer Durables industry average (11.7x).

PE vs Market: GVR is poor value based on its PE Ratio (27.8x) compared to the Irish market (13.7x).


Price to Earnings Growth Ratio

PEG Ratio: GVR is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: GVR is good value based on its PB Ratio (0.7x) compared to the XE Consumer Durables industry average (1.4x).


Next Steps

Future Growth

How is Glenveagh Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

33.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GVR's forecast earnings growth (33.1% per year) is above the savings rate (0.7%).

Earnings vs Market: GVR's earnings (33.1% per year) are forecast to grow faster than the Irish market (17.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GVR's revenue (29% per year) is forecast to grow faster than the Irish market (6.1% per year).

High Growth Revenue: GVR's revenue (29% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GVR's Return on Equity is forecast to be low in 3 years time (6.6%).


Next Steps

Past Performance

How has Glenveagh Properties performed over the past 5 years?

238.1%

Last years revenue growth


Earnings and Revenue History

Quality Earnings: GVR has high quality earnings.

Growing Profit Margin: GVR became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GVR has become profitable over the past 5 years, growing earnings by 0% per year.

Accelerating Growth: GVR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GVR has become profitable in the last year, making it difficult to compare its past year earnings growth to the Consumer Durables industry (-1.5%).


Return on Equity

High ROE: GVR's Return on Equity (2.6%) is considered low.


Next Steps

Financial Health

How is Glenveagh Properties's financial position?


Financial Position Analysis

Short Term Liabilities: GVR's short term assets (€946.0M) exceed its short term liabilities (€99.8M).

Long Term Liabilities: GVR's short term assets (€946.0M) exceed its long term liabilities (€319.0K).


Debt to Equity History and Analysis

Debt Level: GVR's debt to equity ratio (4.6%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if GVR's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: GVR's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: GVR's interest payments on its debt are well covered by EBIT (11.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Glenveagh Properties's current dividend yield, its reliability and sustainability?

2.75%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate GVR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GVR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GVR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GVR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GVR's dividend in 3 years as they are not forecast to pay a notable one for the Irish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Stephen Garvey (40yo)

0.92

Tenure

€750,439

Compensation

Mr. Stephen Garvey is a Co-Founder of Glenveagh Properties PLC and serves as its Chief Executive Officer since August 23, 2019. Mr. Garvey serves as Executive Director at Glenveagh Properties PLC since 201 ...


CEO Compensation Analysis

Compensation vs Market: Stephen's total compensation ($USD849.01K) is about average for companies of similar size in the Irish market ($USD1.20M).

Compensation vs Earnings: Stephen's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Mulcahy
Co-Founder & Executive Chairmanno data€480.60k0.31% 2.0m
Stephen Garvey
Co-Founder0.92yr€750.44k1.52% 9.7m
Michael Rice
CFO & Executive Director0.67yr€362.42k0.0027% 17.0k
Chloe McCarthy
Group Company Secretaryno datano datano data
Conor Murtagh
Director of Strategy & Investor Relations2.42yrsno datano data
Wesley Rothwell
Chief Commercial Officer2.5yrsno datano data
Chris McGarry
Head of Planning2.42yrsno datano data
Shane Scully
Chief Development Officer of Glenveagh Livingno datano datano data
Tony McLoughlin
Head of Suburban Deliveryno datano datano data
Fergus Boyle
Construction Director of Urban Developmentsno datano datano data

2.4yrs

Average Tenure

40yo

Average Age

Experienced Management: GVR's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Mulcahy
Co-Founder & Executive Chairmanno data€480.60k0.31% 2.0m
Stephen Garvey
Co-Founder0.92yr€750.44k1.52% 9.7m
Michael Rice
CFO & Executive Director0.67yr€362.42k0.0027% 17.0k
Richard Cherry
Independent Non-Executive Director3.5yrs€75.00k0.16% 1.0m
Patrick McCann
Independent Non-Executive Director0.83yr€20.00k0.0080% 51.1k
Robert Dix
Independent Non-Executive Director3.5yrs€75.00k0.040% 255.5k
Cara Ryan
Independent Non-Executive Director1.5yrs€20.00kno data
Barbara Judge
Senior Independent Non-Executive Directorno data€90.00k0.013% 80.2k

2.5yrs

Average Tenure

67yo

Average Age

Experienced Board: GVR's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Glenveagh Properties PLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Glenveagh Properties PLC
  • Ticker: GVR
  • Exchange: ISE
  • Founded: 2003
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: €636.073m
  • Shares outstanding: 871.33m
  • Website: https://www.glenveagh.ie

Number of Employees


Location

  • Glenveagh Properties PLC
  • 15 Merrion Square North
  • Dublin
  • Co. Dublin
  • 2
  • Ireland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GVRISE (Irish Stock Exchange)YesOrdinary SharesIEEUROct 2017
GLVLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 2017
GLVLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 2017
GVRMUN (Boerse Muenchen)YesOrdinary SharesDEEUROct 2017

Biography

Glenveagh Properties PLC, a homebuilder, builds and sells houses and apartments for the private buyers and local authorities in the Greater Dublin Area, Ireland. The company operates through Glenveagh Homes and Glenveagh Living segments. It also offers construction and asset advisory services; and property rental services. The company was founded in 2003 and is based in Dublin, Ireland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/11 21:01
End of Day Share Price2020/07/10 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.