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Metlifecare

NZSE:MET
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MET
NZSE
NZ$1B
Market Cap
  1. Home
  2. NZ
  3. Healthcare
Company description

Metlifecare Limited develops, owns, and operates retirement villages primarily in North Island of New Zealand. The last earnings update was 59 days ago. More info.


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MET Share Price and Events
7 Day Returns
-2.5%
NZSE:MET
2.8%
NZ Healthcare
1%
NZ Market
1 Year Returns
-15.2%
NZSE:MET
8%
NZ Healthcare
13.3%
NZ Market
MET Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Metlifecare (MET) -2.5% -2.5% -10.4% -15.2% -9.5% 15.3%
NZ Healthcare 2.8% 1% 1.6% 8% 27.8% 60.3%
NZ Market 1% 4% 7% 13.3% 25.8% 48.4%
1 Year Return vs Industry and Market
  • MET underperformed the Healthcare industry which returned 8% over the past year.
  • MET underperformed the Market in New Zealand which returned 13.3% over the past year.
Price Volatility
MET
Industry
5yr Volatility vs Market

Value

 Is Metlifecare 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 Metlifecare 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 Metlifecare.

NZSE:MET Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
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:MET
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NZ Govt Bond Rate 2.4%
Equity Risk Premium S&P Global 6%
Healthcare Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.715 (1 + (1- 28%) (25.49%))
0.897
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.37% + (0.897 * 5.96%)
7.72%

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

The calculations below outline how an intrinsic value for Metlifecare 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:MET DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NZD, Millions) Source Present Value
Discounted (@ 7.72%)
2019 112.84 Est @ 1.42% 104.76
2020 114.76 Est @ 1.7% 98.91
2021 116.95 Est @ 1.9% 93.57
2022 119.34 Est @ 2.04% 88.64
2023 121.90 Est @ 2.14% 84.06
2024 124.59 Est @ 2.21% 79.76
2025 127.40 Est @ 2.26% 75.72
2026 130.32 Est @ 2.29% 71.90
2027 133.34 Est @ 2.32% 68.30
2028 136.45 Est @ 2.33% 64.88
Present value of next 10 years cash flows NZ$830.50
NZSE:MET DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= NZ$136.45 × (1 + 2.37%) ÷ (7.72% – 2.37%)
NZ$2,612.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NZ$2,612.36 ÷ (1 + 7.72%)10
NZ$1,242.19
NZSE:MET Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NZ$830.50 + NZ$1,242.19
NZ$2,072.69
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$2,072.69 / 212.78
NZ$9.74
NZSE:MET Discount to Share Price
Calculation Result
Value per share (NZD) From above. NZ$9.74
Current discount Discount to share price of NZ$4.75
= -1 x (NZ$4.75 - NZ$9.74) / NZ$9.74
51.2%

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

Current Discount
Amount off the current price Metlifecare is available for.
Intrinsic value
>50%
Share price is NZ$4.75 vs Future cash flow value of NZ$9.74
Current Discount Checks
For Metlifecare to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Metlifecare's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Metlifecare'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 Metlifecare's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Metlifecare's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NZSE:MET PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in NZD NZ$0.44
NZSE:MET Share Price ** NZSE (2019-04-24) in NZD NZ$4.75
New Zealand Healthcare Industry PE Ratio Median Figure of 7 Publicly-Listed Healthcare Companies 10.77x
New Zealand Market PE Ratio Median Figure of 90 Publicly-Listed Companies 17.89x

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

** Primary Listing of Metlifecare.

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

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

= 4.75 ÷ 0.44

10.84x

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

  • Metlifecare is overvalued based on earnings compared to the NZ Healthcare industry average.
  • Metlifecare is good value based on earnings compared to the New Zealand market.
Price based on expected Growth
Does Metlifecare's expected growth come at a high price?
Raw Data
NZSE:MET PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
0.8%per year
New Zealand Healthcare Industry PEG Ratio Median Figure of 7 Publicly-Listed Healthcare Companies 0.99x
New Zealand Market PEG Ratio Median Figure of 66 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.84x ÷ 0.8%

13.48x

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

  • Metlifecare is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Metlifecare's assets?
Raw Data
NZSE:MET PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in NZD NZ$6.99
NZSE:MET Share Price * NZSE (2019-04-24) in NZD NZ$4.75
New Zealand Healthcare Industry PB Ratio Median Figure of 7 Publicly-Listed Healthcare Companies 1.17x
New Zealand Market PB Ratio Median Figure of 126 Publicly-Listed Companies 1.57x
NZSE:MET PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.75 ÷ 6.99

0.68x

* Primary Listing of Metlifecare.

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

  • Metlifecare is good value based on assets compared to the NZ Healthcare industry average.
X
Value checks
We assess Metlifecare'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 Healthcare 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 Healthcare industry average (and greater than 0)? (1 check)
  5. Metlifecare has a total score of 4/6, 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 Metlifecare expected to perform in the next 1 to 3 years based on estimates from 5 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
0.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Metlifecare expected to grow at an attractive rate?
  • Metlifecare's earnings growth is positive but not above the low risk savings rate of 2.4%.
Growth vs Market Checks
  • Metlifecare's earnings growth is positive but not above the New Zealand market average.
  • Metlifecare's revenue growth is expected to exceed the New Zealand market average.
Annual Growth Rates Comparison
Raw Data
NZSE:MET Future Growth Rates Data Sources
Data Point Source Value (per year)
NZSE:MET Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 0.8%
NZSE:MET Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 10.3%
New Zealand Healthcare Industry Earnings Growth Rate Market Cap Weighted Average 9.8%
New Zealand Healthcare Industry Revenue Growth Rate Market Cap Weighted Average 10.2%
New Zealand Market Earnings Growth Rate Market Cap Weighted Average 6%
New Zealand Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:MET Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NZSE:MET Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 221 68
2021-06-30 155 219 140 3
2020-06-30 139 163 118 3
2019-06-30 127 137 107 3
NZSE:MET Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2018-12-31 121 131 93
2018-09-30 118 121 109
2018-06-30 115 111 125
2018-03-31 113 96 134
2017-12-31 110 82 143
2017-09-30 109 106 197
2017-06-30 108 129 252
2017-03-31 108 128 260
2016-12-31 108 127 268
2016-09-30 107 128 248
2016-06-30 106 130 229
2016-03-31 104 129 219

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Metlifecare's earnings are expected to grow by 0.8% yearly, however this is not considered high growth (20% yearly).
  • Metlifecare's revenue is expected to grow by 10.3% 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:MET Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Metlifecare Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:MET Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30
2021-06-30 0.65 0.73 0.58 2.00
2020-06-30 0.55 0.61 0.50 2.00
2019-06-30 0.50 0.65 0.42 3.00
NZSE:MET Past Financials Data
Date (Data in NZD Millions) EPS *
2018-12-31 0.44
2018-09-30 0.51
2018-06-30 0.59
2018-03-31 0.63
2017-12-31 0.67
2017-09-30 0.93
2017-06-30 1.18
2017-03-31 1.22
2016-12-31 1.25
2016-09-30 1.17
2016-06-30 1.08
2016-03-31 1.03

*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.
  • Metlifecare is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Metlifecare'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.
Metlifecare has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Metlifecare 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 Metlifecare's growth in the last year to its industry (Healthcare).
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.
  • Metlifecare's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Metlifecare's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Metlifecare's 1-year earnings growth is negative, it can't be compared to the NZ Healthcare industry average.
Earnings and Revenue History
Metlifecare'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 Metlifecare Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NZSE:MET Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 120.56 93.19 7.35
2018-09-30 117.82 109.14 6.75
2018-06-30 115.09 125.09 6.16
2018-03-31 112.69 133.99 5.78
2017-12-31 110.31 142.91 5.69
2017-09-30 109.03 197.23 5.62
2017-06-30 107.74 251.54 5.55
2017-03-31 107.82 259.74 5.30
2016-12-31 107.90 267.94 5.05
2016-09-30 106.93 248.30 4.82
2016-06-30 105.96 228.66 4.60
2016-03-31 104.15 218.65 4.62
2015-12-31 102.35 208.65 4.65
2015-09-30 100.84 165.65 4.52
2015-06-30 99.33 122.66 4.39
2015-03-31 97.96 102.15 4.34
2014-12-31 96.59 81.65 4.29
2014-09-30 95.62 75.21 4.28
2014-06-30 94.65 68.78 4.26
2014-03-31 95.19 64.39 4.17
2013-12-31 95.73 60.00 4.09
2013-09-30 93.58 90.27 4.24
2013-06-30 91.44 120.53 4.40
2013-03-31 82.44 29.42 3.99
2012-12-31 75.13 -61.69 3.56
2012-09-30 69.25 -101.67 3.34
2012-06-30 63.36 -141.65 3.12

*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.
  • Metlifecare has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Metlifecare used its assets less efficiently than the NZ Healthcare industry average last year based on Return on Assets.
  • Metlifecare's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Metlifecare'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 Healthcare 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.
Metlifecare has a total score of 1/6, 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 Metlifecare'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 Metlifecare's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Metlifecare is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Metlifecare's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Metlifecare'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x 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 Metlifecare Company Filings, last reported 3 months ago.

NZSE:MET Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,486.41 256.57 2.36
2018-09-30 1,486.41 256.57 2.36
2018-06-30 1,476.28 154.66 16.30
2018-03-31 1,476.28 154.66 16.30
2017-12-31 1,414.25 141.28 2.77
2017-09-30 1,414.25 141.28 2.77
2017-06-30 1,370.19 72.63 2.93
2017-03-31 1,370.19 72.63 2.93
2016-12-31 1,288.72 76.12 2.28
2016-09-30 1,288.72 76.12 2.28
2016-06-30 1,132.97 80.80 6.56
2016-03-31 1,132.97 80.80 6.56
2015-12-31 1,033.22 48.76 6.27
2015-09-30 1,033.22 48.76 6.27
2015-06-30 911.44 60.07 1.19
2015-03-31 911.44 60.07 1.19
2014-12-31 830.06 51.64 0.93
2014-09-30 830.06 51.64 0.93
2014-06-30 791.80 42.54 0.84
2014-03-31 791.80 42.54 0.84
2013-12-31 750.87 60.32 1.09
2013-09-30 750.87 60.32 1.09
2013-06-30 717.80 55.48 1.30
2013-03-31 717.80 55.48 1.56
2012-12-31 618.01 149.58 2.32
2012-09-30 618.01 149.58 2.32
2012-06-30 438.89 69.94 9.22
  • Metlifecare's level of debt (17.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (8% vs 17.3% today).
  • Debt is well covered by operating cash flow (51%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Metlifecare'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. Metlifecare has a total score of 3/6, 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 Metlifecare'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
2.11%
Current annual income from Metlifecare dividends. Estimated to be 2.67% next year.
If you bought NZ$2,000 of Metlifecare shares you are expected to receive NZ$42 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?
  • Metlifecare's pays a lower dividend yield than the bottom 25% of dividend payers in New Zealand (3.23%).
  • Metlifecare's dividend is below the markets top 25% of dividend payers in New Zealand (5.57%).
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:MET 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 5 Analyst Estimates (S&P Global) See Below
New Zealand Healthcare Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 2.5%
New Zealand Market Average Dividend Yield Market Cap Weighted Average of 75 Stocks 3.8%
New Zealand Minimum Threshold Dividend Yield 10th Percentile 1.9%
New Zealand Bottom 25% Dividend Yield 25th Percentile 3.2%
New Zealand Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

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

NZSE:MET Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30
2021-06-30 0.14 5.00
2020-06-30 0.13 5.00
2019-06-30 0.11 5.00
NZSE:MET Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2018-09-20 0.100 1.865
2017-08-28 0.081 1.342
2016-08-23 0.058 1.008
2015-09-24 0.045 0.923
2014-08-25 0.038 0.810
2013-10-18 0.040 0.952
2013-10-11 0.040 1.220
2013-08-23 0.040 1.251
2013-08-22 0.040 1.233
2013-02-22 0.020 0.612
2013-02-21 0.020 0.637
2010-03-18 0.000 0.000
2010-02-24 0.000 0.000
2009-09-22 0.000 0.000
2009-08-27 0.000 0.000

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

  • Whilst dividend payments have been stable, Metlifecare has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Metlifecare only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Metlifecare's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.8x coverage).
X
Income/ dividend checks
We assess Metlifecare'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 Metlifecare afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Metlifecare 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 Metlifecare'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
Glen Sowry
COMPENSATION NZ$1,015,528
TENURE AS CEO 3 years
CEO Bio

Mr. Glen R. Sowry has been the Chief Executive Officer of Metlifecare Limited since April 2016. Mr. Sowry served as the Chief Executive Officer of Housing New Zealand Corporation since January 2013 until March 31, 2016. Prior to joining Housing New Zealand at the beginning of 2013, Mr. Sowry held a number of senior executive roles at Air New Zealand Limited over a 10 year period. Mr. Sowry served as General Manager of Public Affairs & Government Relations at Air New Zealand Limited. He served as Vice President, Public Affairs and Group Communications at Air New Zealand Limited. Initially joining Air New Zealand as head of Corporate Affairs and Government Relations, Mr. Sowry moved onto large line management roles including operations and planning roles and in latter years running the domestic and short haul international airlines where he oversaw a major financial and competitive turnaround of the Tasman network through the introduction of Seats to Suit and other strategic initiatives. Prior to Air New Zealand, Mr. Sowry held executive and senior management roles at TVNZ and Telecom. Before his corporate career, Mr. Sowry was an accomplished professional yachtsman competing in the Whitbread Round the World race three times; the America’s Cup and the Olympic Games and also worked in media, marketing and public relations. Mr. Sowry has been a Director at Metlifecare Palmerston North Limited, Metlifecare Oakridge Limited (previously, Vision (Bay of Islands) Limited), Vision (Christchurch) Limited, Metlifecare Dannemora Gardens Limited (previously, Vision (Dannemora) Limited), Metlifecare Papamoa Beach Limited (previously, Vision (Papamoa No.2) Limited), Vision Senior Living Investments Limited, Vision Senior Living Limited, Waitakere Group Limited, Bay of Plenty Retirement Village Limited, Hibiscus Coast Village Holdings Limited, Hillsborough Heights Village Holdings Limited, Longford Park Village Holdings Limited, Longford Park Village Limited, Metlifecare Bayswater Limited, Metlifecare Coastal Villas Limited, Metlifecare Crestwood Limited, Metlifecare Greenwood Park Limited, Metlifecare Highlands Limited, Metlifecare Kapiti Limited, Metlifecare Merivale Limited, Metlifecare Oakwoods Limited, Metlifecare Pakuranga Limited, Metlifecare Pinesong Limited, Metlifecare Powley Limited, Metlifecare 7 Saint Vincent Limited, Metlifecare Somervale Limited, Metlifecare The Avenues Limited, Metlifecare The Orchards Limited, Metlifecare The Poynton Limited, Metlifecare Wairarapa Limited*, Private Life Care Holdings Limited, Provider Care NZ Limited, Third Age Care Limited and Forest Lake Gardens Limited since April 18, 2016. He has been a Director at Metlifecare Greenwich Gardens Limited since April 15, 2016.

CEO Compensation
  • Insufficient data for Glen to compare compensation growth.
  • Glen's remuneration is about average for companies of similar size in New Zealand.
Management Team Tenure

Average tenure of the Metlifecare management team in years:

3.1
Average Tenure
  • The tenure for the Metlifecare management team is about average.
Management Team

Glen Sowry

TITLE
Chief Executive Officer
COMPENSATION
NZ$1M
TENURE
3 yrs

Richard Thomson

TITLE
Chief Financial Officer
TENURE
1.6 yrs

Richard Callander

TITLE
General Manager of Operations
TENURE
4.3 yrs

Andrew Peskett

TITLE
General Counsel & Company Secretary

Jan Martin

TITLE
General Manager of Sales
TENURE
9.7 yrs

Julie Garlick

TITLE
General Manager of Marketing
TENURE
2.3 yrs

Huma Houghton

TITLE
General Manager of Human Resources
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure of the Metlifecare board of directors in years:

5.3
Average Tenure
  • The tenure for the Metlifecare board of directors is about average.
Board of Directors

Kim Ellis

TITLE
Chairman of the Board
COMPENSATION
NZ$165K
AGE
67
TENURE
4.6 yrs

Alistair Ryan

TITLE
Independent Director
COMPENSATION
NZ$96K
TENURE
6.7 yrs

Chris Aiken

TITLE
Independent Director
COMPENSATION
NZ$95K
TENURE
6.7 yrs

Mark Binns

TITLE
Independent Director
COMPENSATION
NZ$82K
TENURE
1.7 yrs

Noeline Whitehead

TITLE
Independent Director
COMPENSATION
NZ$88K
TENURE
5.8 yrs

Carolyn Steele

TITLE
Non-Independent & Non-Executive Director
COMPENSATION
NZ$96K
TENURE
5.3 yrs

Rod Snodgrass

TITLE
Independent Director
COMPENSATION
NZ$80K
AGE
51
TENURE
1.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Metlifecare insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NZ$) Value (NZ$)
12. Apr 19 Sell Australia & New Zealand Banking Group Limited, Asset Management Arm Company 31. Jul 17 25. Mar 19 -172,918 NZ$5.95 NZ$-935,052
12. Apr 19 Buy Australia & New Zealand Banking Group Limited, Asset Management Arm Company 09. May 17 25. Mar 19 99,482 NZ$5.72 NZ$526,049
12. Apr 19 Sell Australia & New Zealand Banking Group Limited, Asset Management Arm Company 26. Jul 17 11. Apr 19 -367,985 NZ$5.72 NZ$-2,102,499
12. Apr 19 Buy Australia & New Zealand Banking Group Limited, Asset Management Arm Company 26. Jul 17 11. Apr 19 854,387 NZ$5.81 NZ$4,908,206
12. Apr 19 Sell ANZ New Zealand Investments Limited Company 26. Jul 17 11. Apr 19 -1,713,636 NZ$6.06 NZ$-10,391,630
12. Apr 19 Buy ANZ New Zealand Investments Limited Company 26. Jul 17 11. Apr 19 4,171,369 NZ$5.62 NZ$23,448,307
07. Mar 19 Buy Kimmitt Ellis Individual 05. Mar 19 06. Mar 19 78,100 NZ$5.15 NZ$399,597
28. Feb 19 Buy Alistair Ryan Individual 27. Feb 19 27. Feb 19 2,000 NZ$5.06 NZ$10,120
03. Oct 18 Buy Alistair Ryan Individual 02. Oct 18 02. Oct 18 1,500 NZ$6.49 NZ$9,735
18. May 18 Sell Devon Funds Management Limited Company 19. Mar 18 01. May 18 -711,724 NZ$5.76 NZ$-4,097,194
18. May 18 Buy Devon Funds Management Limited Company 30. Jan 18 17. May 18 2,390,995 NZ$6.00 NZ$14,356,165
X
Management checks
We assess Metlifecare'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. Metlifecare 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

Have Insiders Been Buying Metlifecare Limited (NZSE:MET) Shares?

We often see insiders buying up shares in companies that perform well over the long term. … Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. … In the last twelve months Metlifecare insiders were buying shares, but not selling

Simply Wall St -

Something To Consider Before Buying Metlifecare Limited (NZSE:MET) For The 2.0% Dividend

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Historically, Metlifecare Limited (NZSE:MET) has paid dividends to shareholders, and these days it yields 2.0%. … Let's take a look at Metlifecare in more detail.

Simply Wall St -

Should You Worry About Metlifecare Limited's (NZSE:MET) CEO Pay Cheque?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Glen Sowry's Compensation Compare With Similar Sized Companies. … According to our data, Metlifecare Limited has a market capitalization of NZ$1.0b, and pays its CEO total annual compensation worth NZ$1.0m.

Simply Wall St -

The Metlifecare Share Price Has Gained 24% And Shareholders Are Hoping For More

But Metlifecare Limited (NZSE:MET) has fallen short of that second goal, with a share price rise of 24% over five years, which is below the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Metlifecare achieved compound earnings per share (EPS) growth of 7.8% per year.

Simply Wall St -

What Should You Know About Metlifecare Limited's (NZSE:MET) Future?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … The most recent earnings update Metlifecare Limited's (NZSE:MET) released in June 2018

Simply Wall St -

Does The Hype Around Metlifecare Limited's (NZSE:MET) Growth Justify Its February Share Price?

Metlifecare Limited (NZSE:MET) is considered a high growth stock. … However its last closing price of NZ$5.13 left investors wondering whether this growth has already been factored into the share price. … Let’s look into this by assessing MET's expected growth over the next few years.

Simply Wall St -

Is Metlifecare Limited's (NZSE:MET) High P/E Ratio A Problem For Investors?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use Metlifecare Limited's (NZSE:MET) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What Can We Expect From Metlifecare Limited's (NZSE:MET) Earnings Over The Next Year?

Looking at Metlifecare Limited's (NZSE:MET) earnings update in June 2018, … analyst consensus outlook appear … with earnings expected to decline by -9.4% in the upcoming year

Simply Wall St -

How Much Of Metlifecare Limited (NZSE:MET) Do Institutions Own?

Generally speaking, as a company grows, institutions will increase their ownership. … Metlifecare is a smaller company with a market capitalization of NZ$1.1b, so it may still be flying under the radar of many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

What You Must Know About Metlifecare Limited's (NZSE:MET) Financial Strength

Metlifecare Limited (NZSE:MET) is a small-cap stock with a market capitalization of NZ$1.2b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is

Simply Wall St -

Company Info

Description

Metlifecare Limited develops, owns, and operates retirement villages primarily in North Island of New Zealand. The company offers living and care services through independent villas and apartments, as well as through serviced apartments, rest homes, and hospitals. As of October 25, 2018, it owned and operated 24 villages. The company was founded in 1984 and is based in Auckland, New Zealand.

Details
Name: Metlifecare Limited
MET
Exchange: NZSE
Founded: 1984
NZ$1,006,459,200
212,782,072
Website: http://www.metlifecare.co.nz
Address: Metlifecare Limited
20 Kent Street,
Level 4,
Auckland,
1023,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE MET Ordinary Shares New Zealand Stock Exchange NZ NZD 18. Jan 1995
Number of employees
Current staff
Staff numbers
1,000
Metlifecare employees.
Industry
Health Care Facilities
Healthcare
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 10:31
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/03/13
Last earnings filing: 2019/02/24
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.