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AGL

Accordant GroupNZSE:AGL Stock Report

Market Cap

NZ$64.2m

7D

3.8%

1Y

32.9%

Updated

19 Oct, 2021

Data

Company Financials
AGL fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends2/6

AGL Overview

Accordant Group Limited provides recruitment and staffing services in New Zealand.

Price History & Performance

Summary of all time highs, changes and price drops for Accordant Group
Historical stock prices
Current Share PriceNZ$1.90
52 Week HighNZ$1.26
52 Week LowNZ$1.90
Beta0.30
1 Month Change5.56%
3 Month Change15.15%
1 Year Change32.87%
3 Year Change7.35%
5 Year Change-19.15%
Change since IPO26.67%

Recent News & Updates

Sep 14
Is Accordant Group (NZSE:AGL) Using Too Much Debt?

Is Accordant Group (NZSE:AGL) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

May 31
Should You Be Adding Accordant Group (NZSE:AGL) To Your Watchlist Today?

Should You Be Adding Accordant Group (NZSE:AGL) To Your Watchlist Today?

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

AGLNZ Professional ServicesNZ Market
7D3.8%1.9%-0.1%
1Y32.9%34.4%1.9%

Return vs Industry: AGL underperformed the NZ Professional Services industry which returned 34.4% over the past year.

Return vs Market: AGL exceeded the NZ Market which returned 1.9% over the past year.

Price Volatility

Is AGL's price volatile compared to industry and market?
AGL volatility
AGL Beta0.30
Industry Beta0.92
Market Beta1

Stable Share Price: AGL is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: AGL's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1988n/aJason Cherringtonhttps://www.accordant.nz

Accordant Group Limited provides recruitment and staffing services in New Zealand. It provides semi-skilled and skilled, primarily temporary staffing services under the AWF brand to construction, infrastructure development, manufacturing, food processing, timber processing, and waste management sectors. The company also offers white collar recruitment services under the Madison brand to clients in central and local government businesses, as well as in health, insurance, telecommunication, banking, and other industries.

Accordant Group Fundamentals Summary

How do Accordant Group's earnings and revenue compare to its market cap?
AGL fundamental statistics
Market CapNZ$64.24m
Earnings (TTM)NZ$6.20m
Revenue (TTM)NZ$205.48m

10.4x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AGL income statement (TTM)
RevenueNZ$205.48m
Cost of RevenueNZ$206.67m
Gross Profit-NZ$1.19m
Expenses-NZ$7.39m
EarningsNZ$6.20m

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.18
Gross Margin-0.58%
Net Profit Margin3.02%
Debt/Equity Ratio37.5%

How did AGL perform over the long term?

See historical performance and comparison

Dividends

4.3%

Current Dividend Yield

45%

Payout Ratio

Valuation

Is Accordant Group 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: AGL (NZ$1.9) is trading below our estimate of fair value (NZ$34.32)

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


Price To Earnings Ratio

PE vs Industry: AGL is good value based on its PE Ratio (10.4x) compared to the Oceanic Professional Services industry average (20.3x).

PE vs Market: AGL is good value based on its PE Ratio (10.4x) compared to the NZ market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AGL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AGL is good value based on its PB Ratio (1.6x) compared to the XO Professional Services industry average (3.7x).


Future Growth

How is Accordant Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.5%

Forecasted Commercial Services industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Accordant Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Accordant Group performed over the past 5 years?

-9.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGL has a large one-off gain of NZ$27.6M impacting its March 31 2021 financial results.

Growing Profit Margin: AGL's current net profit margins (3%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: AGL's earnings have declined by 9.5% per year over the past 5 years.

Accelerating Growth: AGL's earnings growth over the past year (131.5%) exceeds its 5-year average (-9.5% per year).

Earnings vs Industry: AGL earnings growth over the past year (131.5%) exceeded the Professional Services industry 9.5%.


Return on Equity

High ROE: AGL's Return on Equity (15.5%) is considered low.


Financial Health

How is Accordant Group's financial position?


Financial Position Analysis

Short Term Liabilities: AGL's short term assets (NZ$25.2M) do not cover its short term liabilities (NZ$25.4M).

Long Term Liabilities: AGL's short term assets (NZ$25.2M) exceed its long term liabilities (NZ$24.4M).


Debt to Equity History and Analysis

Debt Level: AGL's debt to equity ratio (37.5%) is considered satisfactory.

Reducing Debt: AGL's debt to equity ratio has reduced from 60.2% to 37.5% over the past 5 years.

Debt Coverage: AGL's debt is well covered by operating cash flow (146%).

Interest Coverage: Insufficient data to determine if AGL's interest payments on its debt are well covered by EBIT.


Balance Sheet


Dividend

What is Accordant Group current dividend yield, its reliability and sustainability?

4.32%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AGL's dividend (4.32%) is higher than the bottom 25% of dividend payers in the NZ market (2.44%).

High Dividend: AGL's dividend (4.32%) is low compared to the top 25% of dividend payers in the NZ market (4.8%).


Stability and Growth of Payments

Stable Dividend: AGL's dividend payments have been volatile in the past 10 years.

Growing Dividend: AGL's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.4%), AGL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Jason Cherrington

0.33

Tenure

Mr. Jason Cherrington is Chief Executive Officer of Accordant Group Limited from June 21, 2021. He brings significant experience in developing and growing market-leading brands both globally and more rece...


Leadership Team

Experienced Management: AGL's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: AGL'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

Accordant Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Accordant Group Limited
  • Ticker: AGL
  • Exchange: NZSE
  • Founded: 1988
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: NZ$64.236m
  • Shares outstanding: 33.81m
  • Website: https://www.accordant.nz

Number of Employees


Location

  • Accordant Group Limited
  • 51 Shortland Street
  • Level 6
  • Auckland
  • 1143
  • New Zealand

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 15:45
End of Day Share Price2021/10/19 00:00
Earnings2021/03/31
Annual Earnings2021/03/31


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.