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Glanbia

ISE:GL9
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GL9
ISE
€5B
Market Cap
  1. Home
  2. IE
  3. Food, Beverage & Tobacco
Company description

Glanbia plc operates as a nutrition company worldwide. The last earnings update was 84 days ago. More info.


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GL9 Share Price and Events
7 Day Returns
-2.3%
ISE:GL9
1.6%
Europe Food
-0%
IE Market
1 Year Returns
6.7%
ISE:GL9
10.6%
Europe Food
-13.6%
IE Market
GL9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Glanbia (GL9) -2.3% -6.7% -11.2% 6.7% -4.3% 41.8%
Europe Food 1.6% 2.7% 7.3% 10.6% 13.2% 39.4%
IE Market -0% -5.3% 1.6% -13.6% 0.7% 39.8%
1 Year Return vs Industry and Market
  • GL9 underperformed the Food industry which returned 10.6% over the past year.
  • GL9 outperformed the Market in Ireland which returned -13.6% over the past year.
Price Volatility
GL9
Industry
5yr Volatility vs Market

Value

 Is Glanbia 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 Glanbia 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 Glanbia.

ISE:GL9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year IE Government Bond Rate 0.9%

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 ISE:GL9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IE Govt Bond Rate 0.9%
Equity Risk Premium S&P Global 7.1%
Food Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.544 (1 + (1- 12.5%) (17.26%))
0.75
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.9% + (0.8 * 7.14%)
6.61%

Discounted Cash Flow Calculation for ISE:GL9 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Glanbia 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.

ISE:GL9 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.61%)
2019 206.76 Analyst x5 193.94
2020 272.14 Analyst x5 239.43
2021 291.20 Analyst x5 240.31
2022 305.79 Est @ 5.01% 236.70
2023 317.34 Est @ 3.78% 230.41
2024 326.58 Est @ 2.91% 222.41
2025 334.13 Est @ 2.31% 213.44
2026 340.43 Est @ 1.89% 203.98
2027 345.85 Est @ 1.59% 194.37
2028 350.63 Est @ 1.38% 184.84
Present value of next 10 years cash flows €2,159.82
ISE:GL9 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €350.63 × (1 + 0.9%) ÷ (6.61% – 0.9%)
€6,193.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €6,193.77 ÷ (1 + 6.61%)10
€3,265.08
ISE:GL9 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,159.82 + €3,265.08
€5,424.90
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €5,424.90 / 295.17
€18.38
ISE:GL9 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €18.38
Current discount Discount to share price of €15.85
= -1 x (€15.85 - €18.38) / €18.38
13.8%

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

Current Discount
Amount off the current price Glanbia is available for.
Intrinsic value
14%
Share price is €15.85 vs Future cash flow value of €18.38
Current Discount Checks
For Glanbia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Glanbia's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Glanbia'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 Glanbia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Glanbia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ISE:GL9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-29) in EUR €0.79
ISE:GL9 Share Price ** ISE (2019-05-22) in EUR €15.85
Europe Food Industry PE Ratio Median Figure of 120 Publicly-Listed Food Companies 17.89x
Ireland Market PE Ratio Median Figure of 23 Publicly-Listed Companies 11.42x

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

** Primary Listing of Glanbia.

ISE:GL9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ISE:GL9 Share Price ÷ EPS (both in EUR)

= 15.85 ÷ 0.79

19.99x

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

  • Glanbia is overvalued based on earnings compared to the Europe Food industry average.
  • Glanbia is overvalued based on earnings compared to the Ireland market.
Price based on expected Growth
Does Glanbia's expected growth come at a high price?
Raw Data
ISE:GL9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
7.3%per year
Europe Food Industry PEG Ratio Median Figure of 67 Publicly-Listed Food Companies 1.76x
Ireland Market PEG Ratio Median Figure of 19 Publicly-Listed Companies 0.99x

*Line of best fit is calculated by linear regression .

ISE:GL9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.99x ÷ 7.3%

2.75x

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

  • Glanbia is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Glanbia's assets?
Raw Data
ISE:GL9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-29) in EUR €5.38
ISE:GL9 Share Price * ISE (2019-05-22) in EUR €15.85
Europe Food Industry PB Ratio Median Figure of 160 Publicly-Listed Food Companies 1.27x
Ireland Market PB Ratio Median Figure of 33 Publicly-Listed Companies 1.15x
ISE:GL9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ISE:GL9 Share Price ÷ Book Value per Share (both in EUR)

= 15.85 ÷ 5.38

2.94x

* Primary Listing of Glanbia.

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

  • Glanbia is overvalued based on assets compared to the Europe Food industry average.
X
Value checks
We assess Glanbia'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 Food 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 Food industry average (and greater than 0)? (1 check)
  5. Glanbia 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.

Future Performance

 How is Glanbia expected to perform in the next 1 to 3 years based on estimates from 9 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
7.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Glanbia expected to grow at an attractive rate?
  • Glanbia's earnings growth is expected to exceed the low risk savings rate of 0.9%.
Growth vs Market Checks
  • Glanbia's earnings growth is positive but not above the Ireland market average.
  • Glanbia's revenue growth is expected to exceed the Ireland market average.
Annual Growth Rates Comparison
Raw Data
ISE:GL9 Future Growth Rates Data Sources
Data Point Source Value (per year)
ISE:GL9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 7.3%
ISE:GL9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 10%
Europe Food Industry Earnings Growth Rate Market Cap Weighted Average 10.7%
Europe Food Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.9%
Ireland Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*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
ISE:GL9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ISE:GL9 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,272 2
2022-12-31 4,093 307 3
2021-12-31 4,004 361 292 6
2020-12-31 3,811 335 270 9
2019-12-31 3,637 248 246 9
2018-12-31 2,357 266 225 8
ISE:GL9 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-29 2,386 275 234
2018-09-29 2,350 251 226
2018-06-30 2,313 227 219
2018-03-31 2,350 159 228
2017-12-30 2,387 91 237
2017-09-30 2,363 148 223
2017-07-01 2,340 205 210
2017-04-01 2,286 264 199
2016-12-31 2,232 323 188
2016-09-30 2,326 308 183
2016-07-02 2,421 293 179
2016-04-02 2,597 285 181
2016-01-02 2,774 277 183

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Glanbia's earnings are expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).
  • Glanbia's revenue is expected to grow by 10% 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
ISE:GL9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

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

ISE:GL9 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 1.04 1.04 1.04 1.00
2021-12-31 1.03 1.16 0.95 6.00
2020-12-31 0.94 1.08 0.88 8.00
2019-12-31 0.87 0.99 0.81 8.00
2018-12-31 0.76 0.78 0.74 6.00
ISE:GL9 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-29 0.79
2018-09-29 0.77
2018-06-30 0.74
2018-03-31 0.77
2017-12-30 0.80
2017-09-30 0.76
2017-07-01 0.71
2017-04-01 0.67
2016-12-31 0.64
2016-09-30 0.62
2016-07-02 0.61
2016-04-02 0.61
2016-01-02 0.62

*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.
  • Glanbia is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Glanbia'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.
Glanbia has a total score of 2/6, 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 Glanbia 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 Glanbia's growth in the last year to its industry (Food).
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.
  • Glanbia's year on year earnings growth rate has been positive over the past 5 years.
  • Glanbia's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Glanbia's 1-year earnings growth is negative, it can't be compared to the Europe Food industry average.
Earnings and Revenue History
Glanbia'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 Glanbia Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ISE:GL9 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-29 2,386.30 234.00 395.20
2018-09-29 2,349.85 226.45 373.70
2018-06-30 2,313.40 218.90 352.20
2018-03-31 2,350.25 228.05 356.85
2017-12-30 2,387.10 237.20 361.50
2017-09-30 2,363.34 223.44 454.20
2017-07-01 2,339.59 209.67 546.90
2017-04-01 2,285.64 198.69 454.10
2016-12-31 2,231.70 187.70 361.30
2016-09-30 2,326.12 183.41 394.18
2016-07-02 2,420.55 179.12 427.06
2016-04-02 2,597.44 181.20 427.06
2016-01-02 2,774.33 183.27 427.06
2015-10-02 2,725.06 172.33 343.67 3.92
2015-07-04 2,675.80 161.40 260.29 7.83
2015-04-04 2,607.08 153.85 260.29 7.83
2015-01-03 2,538.37 146.31 260.29 7.83
2014-10-03 2,489.15 149.75 247.30 7.78
2014-07-05 2,439.94 153.18 234.32 7.72
2014-04-05 2,411.04 151.76 234.32 7.72
2014-01-04 2,382.13 150.33 234.32 7.72
2013-10-04 2,366.10 141.86 216.22 8.56
2013-06-29 2,350.07 133.38 198.11 9.39
2013-03-29 2,280.91 129.48 198.89 9.39
2012-12-29 2,211.76 125.58 199.67 9.39
2012-06-30 1,687.95 90.64 38.22 8.40

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Glanbia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Glanbia's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Glanbia's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x 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 Glanbia Company Filings, last reported 4 months ago.

ISE:GL9 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-29 1,589.10 801.30 224.60
2018-09-29 1,589.10 801.30 224.60
2018-06-30 1,461.60 551.90 149.80
2018-03-31 1,461.60 551.90 149.80
2017-12-30 1,381.70 529.90 162.20
2017-09-30 1,381.70 529.90 162.20
2017-07-01 1,249.56 902.73 129.31
2017-04-01 1,249.56 902.73 129.31
2016-12-31 1,227.10 656.40 218.90
2016-09-30 1,227.10 656.40 218.90
2016-07-02 1,060.65 739.25 94.91
2016-04-02 1,060.65 739.25 94.91
2016-01-02 1,063.07 795.13 210.89
2015-10-02 1,063.07 795.13 210.89
2015-07-04 980.72 671.46 94.40
2015-04-04 980.72 671.46 94.40
2015-01-03 804.78 620.73 110.37
2014-10-03 804.78 620.73 110.37
2014-07-05 695.92 560.78 89.01
2014-04-05 695.92 560.78 89.01
2014-01-04 643.52 480.70 106.26
2013-10-04 643.52 480.70 106.26
2013-06-29 622.48 517.75 73.06
2013-03-29 622.48 517.75 73.06
2012-12-29 544.66 652.13 275.57
2012-06-30 541.61 725.74 164.45
  • Glanbia's level of debt (50.4%) 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 (74.7% vs 50.4% today).
  • Debt is well covered by operating cash flow (34.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 15.4x coverage).
X
Financial health checks
We assess Glanbia'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. Glanbia has a total score of 4/6, 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 Glanbia'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
1.53%
Current annual income from Glanbia dividends. Estimated to be 1.87% next year.
If you bought €2,000 of Glanbia shares you are expected to receive €31 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?
  • Glanbia's pays a lower dividend yield than the bottom 25% of dividend payers in Ireland (2.18%).
  • Glanbia's dividend is below the markets top 25% of dividend payers in Ireland (4.07%).
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
ISE:GL9 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 9 Analyst Estimates (S&P Global) See Below
Europe Food Industry Average Dividend Yield Market Cap Weighted Average of 97 Stocks 2.4%
Ireland Market Average Dividend Yield Market Cap Weighted Average of 21 Stocks 2.4%
Ireland Minimum Threshold Dividend Yield 10th Percentile 1.2%
Ireland Bottom 25% Dividend Yield 25th Percentile 2.2%
Ireland Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

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

ISE:GL9 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.35 1.00
2021-12-31 0.33 7.00
2020-12-31 0.29 10.00
2019-12-31 0.27 10.00
2018-12-31 0.25 9.00
ISE:GL9 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-24 0.242 1.503
2018-02-21 0.220 1.423
2017-02-22 0.133 0.808
2016-03-03 0.121 0.730
2016-02-24 0.121 0.652
2015-04-09 0.110 0.632
2015-02-25 0.110 0.651
2014-03-12 0.100 0.850
2014-03-11 0.100 0.901
2013-03-13 0.091 0.889
2012-04-05 0.083 1.216
2012-02-29 0.083 1.440
2011-08-24 0.078 1.687
2011-03-02 0.075 1.677
2011-03-01 0.075 1.749
2010-04-19 0.068 2.020
2010-03-10 0.068 2.379

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

  • Whilst dividend payments have been stable, Glanbia has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Glanbia only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Glanbia's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Glanbia's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 Glanbia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Glanbia 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 Glanbia'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
Siobhán Talbot
COMPENSATION €2,341,000
AGE 54
TENURE AS CEO 5.5 years
CEO Bio

Ms. Siobhán Talbot, B.Comm., FCA has been the Group Managing Director of Glanbia plc since November 12, 2013 and its Executive Director since July 1, 2009. Ms. Talbot served as Group Finance Director at Glanbia plc from March 2009 to November 2013. She served as Deputy Group Finance Director at Glanbia Plc from June 2005 to March 2009 and served as its Group Secretary from 2000 to June 2005. She served in number of Senior Positions in Finance since she joined the Group in 1992 and Group Operations Controller since 2000. She has been Non-Executive Director of CRH PLC since December 1, 2018. She is also a Director of the Irish Business Employers Confederation (IBEC). Ms. Talbot is a fellow of Chartered Accountants Ireland. Ms. Talbot graduated from University College Dublin with a Bachelor of Commerce and Diploma in Professional Accounting. She was previously trained and worked with Price Waterhouse in Dublin and Sydney, Australia.

CEO Compensation
  • Siobhán's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Siobhán's remuneration is higher than average for companies of similar size in Ireland.
Management Team Tenure

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

4.3
Average Tenure
53.5
Average Age
  • The tenure for the Glanbia management team is about average.
Management Team

Siobhán Talbot

TITLE
Group MD & Executive Director
COMPENSATION
€2M
AGE
54
TENURE
5.5 yrs

Mark Garvey

TITLE
Group Finance Director & Executive Director
COMPENSATION
€1M
AGE
54
TENURE
5.5 yrs

Brian Phelan

TITLE
Chief Executive Officer of Glanbia Nutritionals
COMPENSATION
€1M
AGE
51
TENURE
0.3 yrs

Hugh McGuire

TITLE
Chief Executive Officer of Glanbia Performance Nutrition
COMPENSATION
€1M
AGE
47
TENURE
0.3 yrs

Liam Hennigan

TITLE
Group Director of Strategic Planning & Investor Relations

Martha Kavanagh

TITLE
Head of Corporate Communications

Tom Tench

TITLE
Group Corporate Development Director
AGE
47
TENURE
4.2 yrs

Michael Patten

TITLE
Director of Group Human Resources & Corporate Affairs
AGE
56
TENURE
4.4 yrs

Michael Horan

TITLE
Group Secretary
AGE
53
TENURE
13.9 yrs

Jim Bergin

TITLE
Chief Executive of Glanbia Ingredients Ireland Limited
AGE
55
TENURE
1.8 yrs
Board of Directors Tenure

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

1.9
Average Tenure
60.5
Average Age
  • The average tenure for the Glanbia board of directors is less than 3 years, this suggests a new board.
Board of Directors

Martin Keane

TITLE
Chairman
COMPENSATION
€90K
AGE
62
TENURE
0.9 yrs

Siobhán Talbot

TITLE
Group MD & Executive Director
COMPENSATION
€2M
AGE
54
TENURE
9.8 yrs

John Murphy

TITLE
Vice Chairman
COMPENSATION
€60K
AGE
55
TENURE
1.9 yrs

Patrick Murphy

TITLE
Vice Chairman
COMPENSATION
€53K
AGE
60
TENURE
0.9 yrs

Mark Garvey

TITLE
Group Finance Director & Executive Director
COMPENSATION
€1M
AGE
54
TENURE
5.5 yrs

Donard Gaynor

TITLE
Independent Non-Executive Director
COMPENSATION
€95K
AGE
61
TENURE
6.2 yrs

Dan O'Connor

TITLE
Senior Independent Director
COMPENSATION
€95K
AGE
58

Michael Walsh

TITLE
Member of the US Advisory Board
AGE
75

Eamon Power

TITLE
Non Executive Director
COMPENSATION
€43K
AGE
63
TENURE
1.9 yrs

Wayne Seltzer

TITLE
Member of The US Advisory Board
AGE
75
Who owns this company?
Recent Insider Trading
  • Glanbia insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
28. Mar 19 Sell Hugh McGuire Individual 28. Mar 19 28. Mar 19 -14,989 €17.39 €-259,901
28. Mar 19 Sell Michael Horan Individual 28. Mar 19 28. Mar 19 -4,718 €17.29 €-81,551
28. Mar 19 Sell Brian Phelan Individual 28. Mar 19 28. Mar 19 -14,755 €17.45 €-256,344
28. Mar 19 Sell Siobhán Talbot Individual 28. Mar 19 28. Mar 19 -14,842 €17.29 €-256,544
28. Mar 19 Sell Mark Garvey Individual 28. Mar 19 28. Mar 19 -8,730 €17.29 €-150,898
11. Mar 19 Sell Hugh McGuire Individual 11. Mar 19 11. Mar 19 -8,535 €18.55 €-158,324
11. Mar 19 Sell Michael Horan Individual 11. Mar 19 11. Mar 19 -5,000 €18.45 €-92,250
11. Mar 19 Sell Brian Phelan Individual 11. Mar 19 11. Mar 19 -8,082 €18.54 €-149,840
25. Jun 18 Sell Patrick Murphy Individual 25. Jun 18 25. Jun 18 -21,692 €17.84 €-387,020
X
Management checks
We assess Glanbia'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. Glanbia 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

Did Glanbia plc (ISE:GL9) Insiders Sell Shares?

So we'll take a look at whether insiders have been buying or selling shares in Glanbia plc (ISE:GL9). … View our latest analysis for Glanbia Glanbia Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider sale was by the Vice Chairman, Patrick Murphy, for €387k worth of shares, at about €17.84 per share. … Insider Ownership of Glanbia For a common shareholder, it is worth checking how many shares are held by company insiders.

Simply Wall St -

How Glanbia plc's (ISE:GL9) Earnings Growth Stacks Up Against The Industry

View our latest analysis for Glanbia Did GL9 perform better than its track record and industry? … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 10%, indicating the rate at which GL9 is growing has slowed down. … You should continue to research Glanbia to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for GL9’s future growth?

Simply Wall St -

Here's What You Should Know About Glanbia plc's (ISE:GL9) 1.5% Dividend Yield

Dividend paying stocks like Glanbia plc (ISE:GL9) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Yet sometimes, investors buy a stock for its dividend and lose money because the share price falls by more than they earned in dividend payments. … Investors might not know much about Glanbia's dividend prospects, even though it has been paying dividends for the last nine years and offers a 1.5% yield.

Simply Wall St -

Is Glanbia plc's (ISE:GL9) High P/E Ratio A Problem For Investors?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll apply a basic P/E ratio analysis to Glanbia plc's (ISE:GL9), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is Glanbia plc (ISE:GL9) Investing Effectively In Its Business?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … 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 -

Update: Glanbia (ISE:GL9) Stock Gained 61% In The Last Five Years

To wit, the Glanbia share price has climbed 61% in five years, easily topping the market return of 39% (ignoring dividends). … During five years of share price growth, Glanbia achieved compound earnings per share (EPS) growth of 9.2% per year. … Rather, the share price has approximately tracked EPS growth.

Simply Wall St -

Should You Worry About Glanbia plc's (ISE:GL9) CEO Pay Cheque?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Siobhán Talbot's Compensation Compare With Similar Sized Companies. … Our data indicates that Glanbia plc is worth €5.0b, and total annual CEO compensation is €2.3m.

Simply Wall St -

What You Must Know About Glanbia plc's (ISE:GL9) Financial Strength

While they are less talked about as an investment category, mid-cap risk-adjusted returns have generally been better than more commonly focused stocks that fall into the small- or large-cap categories. … Today we will look at GL9’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

Glanbia plc (ISE:GL9): What Does The Future Look Like?

In December 2018, Glanbia plc (ISE:GL9) released its latest earnings announcement, whicha … confirmed … business

Simply Wall St -

Want To Invest In Glanbia plc (ISE:GL9)? Here's How It Performed Lately

Below, I will assess GL9's latest performance announced on 29 December 2018 and weight these figures against its longer term trend and industry movements. … How Did GL9's Recent Performance Stack Up Against Its Past. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 10%, indicating the rate at which GL9 is growing has slowed down

Simply Wall St -

Company Info

Description

Glanbia plc operates as a nutrition company worldwide. It operates through three segments: Glanbia Performance Nutrition, Glanbia Nutritionals, and Glanbia Ireland. The Glanbia Performance Nutrition segment manufactures and sells sports nutrition and lifestyle nutrition products in various formats, including powders, ready-to-eat bars and snacking foods, and ready-to-drink beverages through various channels, such as specialty retail, the Internet, and gyms, as well the food, drug, mass, and club channels. The Glanbia Nutritionals segment manufactures and sells cheese, dairy and non-dairy nutritional ingredients, and vitamin and mineral premixes. The Glanbia Ireland segment operates as a milk processor in Ireland; and produces a range of value added dairy ingredients and consumer products. It also sells animal nutrition and fertilizer products; and operates a chain of agricultural retail outlets in Ireland. The company also engages in the financing, research and development, property and land dealing, receivables management, management, property leasing, business service, and weight management solutions businesses. It provides its products under the Optimum Nutrition, BSN, Isopure, Nutramino, ABB, thinkThin, Amazing Grass, Body & Fit, and SlimFast brands in approximately 100 countries. The company was founded in 1964 and is headquartered in Kilkenny, Ireland.

Details
Name: Glanbia plc
GL9
Exchange: ISE
Founded: 1964
€4,643,092,509
295,174,349
Website: http://www.glanbia.com
Address: Glanbia plc
Glanbia House,
Ring Road,
Kilkenny,
Co. Kilkenny, Ireland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ISE GL9 Ordinary Shares Irish Stock Exchange IE EUR 02. Jan 1992
OTCPK GLAP.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB GL9 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE GLB Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BMV GLB N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE GLBL Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
BATS-CHIXE GL9I Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK GLAP.Y SPONSORED ADR Pink Sheets LLC US USD 20. Oct 1998
Number of employees
Current staff
Staff numbers
6,900
Glanbia employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 21:13
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/04/26
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/29
Last annual earnings reported: 2018/12/29


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.