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Sanford

NZSE:SAN
Snowflake Description

Very undervalued with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SAN
NZSE
NZ$604M
Market Cap
  1. Home
  2. NZ
  3. Food, Beverage & Tobacco
Company description

Sanford Limited engages in farming, harvesting, processing, storing, and marketing seafood products. The last earnings update was 125 days ago. More info.


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SAN Share Price and Events
7 Day Returns
0%
NZSE:SAN
-1.3%
NZ Food
0.7%
NZ Market
1 Year Returns
-15%
NZSE:SAN
-7.9%
NZ Food
6%
NZ Market
SAN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sanford (SAN) 0% -3% 0.3% -15% 4.8% 46.1%
NZ Food -1.3% 2.6% 12.8% -7.9% 61.1% 63.7%
NZ Market 0.7% 1.2% 5.8% 6% 22.4% 43.5%
1 Year Return vs Industry and Market
  • SAN underperformed the Food industry which returned -7.9% over the past year.
  • SAN underperformed the Market in New Zealand which returned 6% over the past year.
Price Volatility
SAN
Industry
5yr Volatility vs Market

Value

 Is Sanford 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 Sanford 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 Sanford.

NZSE:SAN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year NZ Government Bond Rate 2.4%

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 NZSE:SAN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NZ Govt Bond Rate 2.4%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.561 (1 + (1- 28%) (25.66%))
0.775
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)
= 2.37% + (0.8 * 5.96%)
7.14%

Discounted Cash Flow Calculation for NZSE:SAN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sanford 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.

NZSE:SAN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 7.14%)
2019 16.00 Analyst x1 14.93
2020 23.00 Analyst x1 20.04
2021 31.00 Analyst x1 25.21
2022 53.40 Analyst x1 40.53
2023 76.80 Analyst x1 54.41
2024 96.68 Est @ 25.89% 63.93
2025 114.89 Est @ 18.83% 70.91
2026 130.85 Est @ 13.89% 75.38
2027 144.51 Est @ 10.44% 77.70
2028 156.10 Est @ 8.02% 78.34
Present value of next 10 years cash flows NZ$521.36
NZSE:SAN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NZ$156.10 × (1 + 2.37%) ÷ (7.14% – 2.37%)
NZ$3,351.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$3,351.44 ÷ (1 + 7.14%)10
NZ$1,681.89
NZSE:SAN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$521.36 + NZ$1,681.89
NZ$2,203.24
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$2,203.24 / 93.51
NZ$23.56
NZSE:SAN Discount to Share Price
Calculation Result
Value per share (NZD) From above. NZ$23.56
Current discount Discount to share price of NZ$6.50
= -1 x (NZ$6.50 - NZ$23.56) / NZ$23.56
72.4%

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

Current Discount
Amount off the current price Sanford is available for.
Intrinsic value
>50%
Share price is NZ$6.5 vs Future cash flow value of NZ$23.56
Current Discount Checks
For Sanford to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sanford's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sanford'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 Sanford's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sanford's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NZSE:SAN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in NZD NZ$0.45
NZSE:SAN Share Price ** NZSE (2019-03-20) in NZD NZ$6.5
New Zealand Food Industry PE Ratio Median Figure of 10 Publicly-Listed Food Companies 21.65x
New Zealand Market PE Ratio Median Figure of 89 Publicly-Listed Companies 17.1x

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

** Primary Listing of Sanford.

NZSE:SAN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NZSE:SAN Share Price ÷ EPS (both in NZD)

= 6.5 ÷ 0.45

14.37x

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

  • Sanford is good value based on earnings compared to the NZ Food industry average.
  • Sanford is good value based on earnings compared to the New Zealand market.
Price based on expected Growth
Does Sanford's expected growth come at a high price?
Raw Data
NZSE:SAN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
14.5%per year
New Zealand Food Industry PEG Ratio Median Figure of 7 Publicly-Listed Food Companies 1.05x
New Zealand Market PEG Ratio Median Figure of 66 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

NZSE:SAN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.37x ÷ 14.5%

0.99x

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

  • Sanford is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sanford's assets?
Raw Data
NZSE:SAN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in NZD NZ$6.22
NZSE:SAN Share Price * NZSE (2019-03-20) in NZD NZ$6.5
New Zealand Food Industry PB Ratio Median Figure of 13 Publicly-Listed Food Companies 1.14x
New Zealand Market PB Ratio Median Figure of 126 Publicly-Listed Companies 1.52x
NZSE:SAN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:SAN Share Price ÷ Book Value per Share (both in NZD)

= 6.5 ÷ 6.22

1.05x

* Primary Listing of Sanford.

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

  • Sanford is good value based on assets compared to the NZ Food industry average.
X
Value checks
We assess Sanford'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. Sanford has a total score of 6/6, 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 Sanford expected to perform in the next 1 to 3 years based on estimates from 3 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
14.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sanford expected to grow at an attractive rate?
  • Sanford's earnings growth is expected to exceed the low risk savings rate of 2.4%.
Growth vs Market Checks
  • Sanford's earnings growth is expected to exceed the New Zealand market average.
  • Sanford's revenue growth is expected to exceed the New Zealand market average.
Annual Growth Rates Comparison
Raw Data
NZSE:SAN Future Growth Rates Data Sources
Data Point Source Value (per year)
NZSE:SAN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 14.5%
NZSE:SAN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.3%
New Zealand Food Industry Earnings Growth Rate Market Cap Weighted Average 19.1%
New Zealand Food Industry Revenue Growth Rate Market Cap Weighted Average 15.4%
New Zealand Market Earnings Growth Rate Market Cap Weighted Average 5.9%
New Zealand Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
NZSE:SAN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NZSE:SAN Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 717 112 90 1
2022-09-30 656 93 73 1
2021-09-30 591 76 55 3
2020-09-30 556 68 48 3
2019-09-30 532 61 44 3
NZSE:SAN Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2018-09-30 515 73 42
2018-06-30 518 68 44
2018-03-31 520 62 46
2017-12-31 499 56 42
2017-09-30 478 50 37
2017-06-30 476 47 38
2017-03-31 474 43 39
2016-12-31 469 39 38
2016-09-30 463 34 38
2016-06-30 455 32
2016-03-31 446 55 26
2015-12-31 443 55 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sanford's earnings are expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
  • Sanford's revenue is expected to grow by 6.3% 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
NZSE:SAN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Sanford Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:SAN Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 0.60 0.64 0.55 3.00
2020-09-30 0.51 0.53 0.49 3.00
2019-09-30 0.47 0.48 0.45 3.00
NZSE:SAN Past Financials Data
Date (Data in NZD Millions) EPS *
2018-09-30 0.45
2018-06-30 0.47
2018-03-31 0.49
2017-12-31 0.44
2017-09-30 0.40
2017-06-30 0.41
2017-03-31 0.41
2016-12-31 0.41
2016-09-30 0.40
2016-06-30 0.34
2016-03-31 0.27
2015-12-31 0.27

*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.
  • Sanford is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Sanford'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 New Zealand market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the New Zealand 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.
Sanford 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 Sanford 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 Sanford'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.
  • Sanford's year on year earnings growth rate has been positive over the past 5 years.
  • Sanford's 1-year earnings growth is less than its 5-year average (12.9% vs 14.3%)
  • Sanford's earnings growth has not exceeded the NZ Food industry average in the past year (12.9% vs 22.9%).
Earnings and Revenue History
Sanford'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 Sanford Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:SAN Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 514.98 42.30 48.95
2018-06-30 517.66 44.01 48.15
2018-03-31 520.35 45.71 47.36
2017-12-31 499.15 41.60 47.57
2017-09-30 477.94 37.49 47.79
2017-06-30 476.19 38.07 48.99
2017-03-31 474.43 38.66 50.19
2016-12-31 468.95 38.24 49.30
2016-09-30 463.47 37.83 48.41
2016-06-30 454.59 31.75 48.75
2016-03-31 445.72 25.68 49.09
2015-12-31 442.51 25.06 49.51
2015-09-30 439.30 24.44 49.92
2015-03-31 429.50 38.91 47.19
2014-12-31 435.84 36.30 45.70
2014-09-30 442.17 33.68 44.20
2014-06-30 450.38 20.26 43.50
2014-03-31 443.73 18.09 41.56
2013-12-31 453.19 19.22 42.80
2013-09-30 462.64 20.36 44.05
2013-06-30 468.44 20.35 45.70
2013-03-31 474.23 20.34 47.35
2012-12-31 467.09 19.98 46.57
2012-09-30 459.96 19.62 45.78
2012-06-30 463.09 21.06 43.89
2012-03-31 466.23 22.50 41.99

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sanford is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sanford's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sanford'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 1x 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 Sanford Company Filings, last reported 5 months ago.

NZSE:SAN Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 581.93 155.00 2.63
2018-06-30 581.93 155.00 2.63
2018-03-31 588.13 186.20 5.06
2017-12-31 588.13 186.20 5.06
2017-09-30 575.84 186.57 5.15
2017-06-30 575.84 186.57 5.15
2017-03-31 563.46 202.17 5.38
2016-12-31 563.46 202.17 5.38
2016-09-30 558.14 177.54 3.59
2016-06-30 558.14 177.54 3.59
2016-03-31 537.47 187.08 8.64
2015-12-31 537.47 187.08 8.64
2015-09-30 513.07 155.72 5.96
2015-03-31 537.61 204.36 5.23
2014-12-31 537.61 204.36 5.23
2014-09-30 545.84 179.36 3.75
2014-06-30 545.84 179.36 3.75
2014-03-31 555.38 200.24 10.65
2013-12-31 555.38 200.24 10.65
2013-09-30 554.91 177.47 6.45
2013-06-30 554.91 177.47 6.45
2013-03-31 557.69 187.14 2.12
2012-12-31 557.69 187.14 2.12
2012-09-30 554.69 169.00 3.35
2012-06-30 554.69 169.00 3.35
2012-03-31 554.54 198.67 2.70
  • Sanford's level of debt (26.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (32% vs 26.6% today).
  • Debt is well covered by operating cash flow (46.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.5x coverage).
X
Financial health checks
We assess Sanford'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. Sanford has a total score of 6/6, 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 Sanford'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
3.54%
Current annual income from Sanford dividends. Estimated to be 3.59% next year.
If you bought NZ$2,000 of Sanford shares you are expected to receive NZ$71 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?
  • Sanford's pays a higher dividend yield than the bottom 25% of dividend payers in New Zealand (3.31%).
  • Sanford's dividend is below the markets top 25% of dividend payers in New Zealand (5.87%).
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
NZSE:SAN 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 3 Analyst Estimates (S&P Global) See Below
New Zealand Food Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 3.6%
New Zealand Market Average Dividend Yield Market Cap Weighted Average of 76 Stocks 4%
New Zealand Minimum Threshold Dividend Yield 10th Percentile 1.9%
New Zealand Bottom 25% Dividend Yield 25th Percentile 3.3%
New Zealand Top 25% Dividend Yield 75th Percentile 5.9%

Industry and Market average data is calculated daily.

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

NZSE:SAN Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2023-09-30
2022-09-30
2021-09-30 0.24 3.00
2020-09-30 0.23 3.00
2019-09-30 0.23 3.00
NZSE:SAN Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2018-11-15 0.230 3.429
2017-11-15 0.230 2.959
2016-11-16 0.230 3.190
2015-11-18 0.230 3.902
2014-11-19 0.230 4.621
2014-10-15 0.230 4.535
2013-11-20 0.230 5.295
2012-11-28 0.230 5.117
2012-05-30 0.230 5.665
2011-11-30 0.230 5.594
2010-11-24 0.230 4.603
2009-11-25 0.230 5.281
2009-03-23 0.230 4.383

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

  • Dividends per share have been stable in the past 10 years.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Sanford's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Sanford's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.9%) - 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 Sanford afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sanford has a total score of 4/6, 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 Sanford'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
Volker Kuntzsch
TENURE AS CEO 5.3 years
CEO Bio

Mr. Kuntzsch Volker, MSc has been the Chief Executive Officer of Sanford Limited since December 2013. Mr. Volker's distinguished international career in the fishing industry spanning 25 years. He served as the President and Chief Executive Officer of King & Prince Seafood Corporation. He served as the President of Nissui U.S.A. He was formerly the President of Nippon Suisan (USA). He served as an Executive Officer of Nippon Suisan Kaisha Ltd. He served as Global Marketing Director for Nippon Suisan Kaisha Ltd, Tokyo, Managing Director of Hangana Seafood, Namibia and senior roles with Unilever Europe in Germany and the United Kingdom. His international track record and global reputation in the industry, emphasising his background in a wide range of challenging senior management roles. His experience and achievements in developing awareness of seafood sustainability through development of Marine Stewardship Council (MSC). Mr. Volker was educated in South Africa where he gained a Master of Science from the University of Stellenbosch.

CEO Compensation
  • Insufficient data for Volker to compare compensation growth.
  • Insufficient data for Volker to establish whether their remuneration is reasonable compared to companies of similar size in New Zealand.
Management Team Tenure

Average tenure of the Sanford management team in years:

4.5
Average Tenure
  • The tenure for the Sanford management team is about average.
Management Team

Volker Kuntzsch

TITLE
Chief Executive Officer
TENURE
5.3 yrs

Clement Chia

TITLE
Chief Financial Officer
TENURE
4.5 yrs

Karen Duffy

TITLE
Chief People Officer

Andre Gargiulo

TITLE
Chief Customer Officer
TENURE
3.1 yrs

Stuart Houliston

TITLE
Financial Controller

Dean McIntosh

TITLE
General Manager of Risk and Corporate Affairs
Board of Directors Tenure

Average tenure of the Sanford board of directors in years:

2.7
Average Tenure
  • The average tenure for the Sanford board of directors is less than 3 years, this suggests a new board.
Board of Directors

Paul Norling

TITLE
Chairman
COMPENSATION
NZ$167K
TENURE
4.2 yrs

Rob McLeod

TITLE
Deputy Chair
COMPENSATION
NZ$79K
TENURE
1.2 yrs

Abby Foote

TITLE
Director
TENURE
1.2 yrs

Peter Goodfellow

TITLE
Non-Executive Director
COMPENSATION
NZ$90K
TENURE
12.9 yrs

Peter Kean

TITLE
Independent Non-Executive Director
COMPENSATION
NZ$101K
TENURE
4.3 yrs

Peter Cullinane

TITLE
Independent Non-Executive Director
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NZ$) Value (NZ$)
X
Management checks
We assess Sanford'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. Sanford 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

How Do Sanford Limited’s (NZSE:SAN) Returns Compare To Its Industry?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Does Sanford Limited's (NZSE:SAN) Recent Track Record Look Strong?

When Sanford Limited (NZSE:SAN) released its most recent earnings update (30 September 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Sanford's average earnings over the past couple of years, and its industry performance. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 14%, indicating the rate at which SAN is growing has slowed down

Simply Wall St -

Understanding Your Return On Investment In Sanford Limited (NZSE:SAN)

and want to better understand how you can grow your money by investing in Sanford Limited (NZSE:SAN). … As a result, your investment is being put to work to fund operations and if you want to earn an attractive return on your investment, the business needs to be making an adequate amount of money from the funds you provide. … Your return is tied to SAN’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment.

Simply Wall St -

Is Sanford Limited (NZSE:SAN) A Smart Pick For Income Investors?

Over the past 10 years, Sanford Limited (NZSE:SAN) has returned an average of 4.00% per year to shareholders in terms of dividend yield. … Does Sanford tick all the boxes of a great dividend stock? … How I analyze a dividend stock

Simply Wall St -

How Do Analysts See Sanford Limited (NZSE:SAN) Performing Over The Next Year?

Since Sanford Limited (NZSE:SAN) released its earnings in March 2018,. … in-line with its track record, as upcoming earnings growth is expected to be 12.42% next year, similar to the range of average earnings growth for the past five years of 12.64% per year … Below is a brief commentary around Sanford's earnings outlook going forward, which may give you a sense of market sentiment for the company.

Simply Wall St -

What You Must Know About Sanford Limited's (NZSE:SAN) Financial Strength

While small-cap stocks, such as Sanford Limited (NZSE:SAN) with its market cap of NZ$724.67m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

Is Sanford Limited (NZSE:SAN) A Sell At Its Current PE Ratio?

SAN's current PE is 15.85x based on past earnings,. … Yes, this sober multiple may convince you to look elsewhere, but there are many company-specific elements which are not captured in such a static ratio – such as its growth outlook and debt obligations … This article will cover some key aspects we should consider in order to determine the best multiple to be used for

Simply Wall St -

Is Sanford Limited's (NZSE:SAN) PE Ratio A Signal To Buy For Investors?

and want to better understand how you can grow your money by investing in Sanford Limited (NZSE:SAN). … Sanford Limited (NZSE:SAN) is currently trading at a trailing P/E of 15.5x, which is lower than the industry average of 16.2x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind

Simply Wall St -

Read This Before Buying Sanford Limited (NZE:SAN) For Its Upcoming $0.11 Dividend

Check out our latest analysis for Sanford How I analyze a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Does it pay an annual yield higher than 75% of dividend payers? … The current trailing twelve-month payout ratio for the stock is 47.05%, which means that the dividend is covered by earnings. … In the near future, analysts are predicting a payout ratio of 45.17%, leading to a dividend yield of around 3.67%.

Simply Wall St -

Should Sanford Limited (NZE:SAN) Be Part Of Your Dividend Portfolio?

The company currently pays out a dividend yield of 2.97% to shareholders, making it a relatively attractive dividend stock. … View our latest analysis for Sanford 5 checks you should do on a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend payers? … The company currently pays out 47.05% of its earnings as a dividend, according to its trailing twelve-month data, which means that the dividend is covered by earnings.

Simply Wall St -

Company Info

Description

Sanford Limited engages in farming, harvesting, processing, storing, and marketing seafood products. It operates through Wildcatch and Aquaculture segments. The company catches and processes inshore and deep water fish species, as well as farms, harvests, and processes mussels and salmon, as well as oyster. It also provides auction, wharf, and research services; and retails and wholesales seafood. The company operates in New Zealand and Australia; Europe; North America; Japan, China, Hong Kong, South Korea, and the rest of Asia; Africa; the Middle East; the Pacific; and internationally. Sanford Limited was founded in 1881 and is headquartered in Auckland, New Zealand.

Details
Name: Sanford Limited
SAN
Exchange: NZSE
Founded: 1881
NZ$604,049,645
93,506,137
Website: http://www.sanford.co.nz
Address: Sanford Limited
22 Jellicoe Street,
Freemans Bay,
Auckland,
1010,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE SAN Ordinary Shares New Zealand Stock Exchange NZ NZD 01. Jan 1992
OTCPK SARD.F Ordinary Shares Pink Sheets LLC US USD 01. Jan 1992
Number of employees
Current staff
Staff numbers
948
Sanford employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 10:32
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/17
Last earnings filing: 2018/11/15
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/09/30


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.