| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 0/6 |
| Past Performance | 3/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
ARG Overview
Argosy Property Limited in properties in New Zealand.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 32% per year for the next 3 years
+ 1 more risk
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | NZ$1.60 |
| 52 Week High | NZ$1.38 |
| 52 Week Low | NZ$1.73 |
| Beta | 0.80 |
| 1 Month Change | -3.33% |
| 3 Month Change | -2.45% |
| 1 Year Change | 8.87% |
| 3 Year Change | 48.37% |
| 5 Year Change | 51.91% |
| Change since IPO | 59.50% |
Recent News & Updates
Shareholder Returns
| ARG | NZ REITs | NZ Market | |
|---|---|---|---|
| 7D | -0.3% | -0.6% | 0.5% |
| 1Y | 8.9% | -3.4% | 2.1% |
Return vs Industry: ARG exceeded the NZ REITs industry which returned -3.4% over the past year.
Return vs Market: ARG exceeded the NZ Market which returned 2.1% over the past year.
Price Volatility
| ARG volatility | |
|---|---|
| ARG Beta | 0.80 |
| Industry Beta | 0.55 |
| Market Beta | 1 |
Stable Share Price: ARG is less volatile than 75% of NZ stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: ARG's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2002 | n/a | Peter Mence | https://www.argosy.co.nz |
Argosy Property Limited in properties in New Zealand. Its investment portfolio consists of approximately 100 properties comprising retail, industrial, and commercial properties. The company’s properties are primarily located in Auckland, Hamilton, and Wellington in New Zealand.
Argosy Property Fundamentals Summary
| ARG fundamental statistics | |
|---|---|
| Market Cap | NZ$1.32b |
| Earnings (TTM) | NZ$241.65m |
| Revenue (TTM) | NZ$131.41m |
5.6x
P/E Ratio10.2x
P/S RatioIs ARG overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| ARG income statement (TTM) | |
|---|---|
| Revenue | NZ$131.41m |
| Cost of Revenue | NZ$25.76m |
| Gross Profit | NZ$105.65m |
| Expenses | -NZ$136.00m |
| Earnings | NZ$241.65m |
Last Reported Earnings
Mar 31, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.29 |
| Gross Margin | 80.40% |
| Net Profit Margin | 183.89% |
| Debt/Equity Ratio | 62.7% |
How did ARG perform over the long term?
See historical performance and comparisonDividends
4.0%
Current Dividend Yield51%
Payout RatioValuation
Is Argosy Property undervalued compared to its fair value and its price relative to the market?
22.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: ARG (NZ$1.6) is trading below our estimate of fair value (NZ$2.05)
Significantly Below Fair Value: ARG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: ARG is good value based on its PE Ratio (5.6x) compared to the NZ REITs industry average (5.9x).
PE vs Market: ARG is good value based on its PE Ratio (5.6x) compared to the NZ market (22.2x).
Price to Earnings Growth Ratio
PEG Ratio: ARG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: ARG's PB Ratio (1x) is in line with the NZ REITs industry average.
Future Growth
How is Argosy Property forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
-32.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ARG's earnings are forecast to decline over the next 3 years (-32% per year).
Earnings vs Market: ARG's earnings are forecast to decline over the next 3 years (-32% per year).
High Growth Earnings: ARG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: ARG's revenue is expected to decline over the next 3 years (-1% per year).
High Growth Revenue: ARG's revenue is forecast to decline over the next 3 years (-1% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: ARG's Return on Equity is forecast to be low in 3 years time (4.6%).
Past Performance
How has Argosy Property performed over the past 5 years?
18.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ARG has a large one-off gain of NZ$183.0M impacting its March 31 2021 financial results.
Growing Profit Margin: ARG's current net profit margins are higher than last year (98.5%).
Past Earnings Growth Analysis
Earnings Trend: ARG's earnings have grown by 18.3% per year over the past 5 years.
Accelerating Growth: ARG's earnings growth over the past year (102.9%) exceeds its 5-year average (18.3% per year).
Earnings vs Industry: ARG earnings growth over the past year (102.9%) underperformed the REITs industry 267.1%.
Return on Equity
High ROE: ARG's Return on Equity (18.9%) is considered low.
Financial Health
How is Argosy Property's financial position?
Financial Position Analysis
Short Term Liabilities: ARG's short term assets (NZ$97.9M) exceed its short term liabilities (NZ$19.7M).
Long Term Liabilities: ARG's short term assets (NZ$97.9M) do not cover its long term liabilities (NZ$856.5M).
Debt to Equity History and Analysis
Debt Level: ARG's debt to equity ratio (62.7%) is considered high.
Reducing Debt: ARG's debt to equity ratio has reduced from 66.9% to 62.7% over the past 5 years.
Debt Coverage: ARG's debt is not well covered by operating cash flow (11%).
Interest Coverage: ARG's interest payments on its debt are not well covered by EBIT (2.9x coverage).
Balance Sheet
Dividend
What is Argosy Property current dividend yield, its reliability and sustainability?
4.04%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: ARG's dividend (4.04%) is higher than the bottom 25% of dividend payers in the NZ market (2.41%).
High Dividend: ARG's dividend (4.04%) is low compared to the top 25% of dividend payers in the NZ market (4.9%).
Stability and Growth of Payments
Stable Dividend: ARG's dividend payments have been volatile in the past 10 years.
Growing Dividend: ARG's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (51%), ARG's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: ARG's dividends in 3 years are forecast to be covered by earnings (81.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
9.4yrs
Average management tenure
CEO
Peter Mence
12.75yrs
Tenure
Mr. Peter Mence serves as the Chief Executive Officer of Argosy Property Limited. Mr. Mence served as a General Manager of ING Property Trust Management Limited-Manager for ING Property. Mr. Mence is worki...
Leadership Team
Experienced Management: ARG's management team is seasoned and experienced (9.4 years average tenure).
Board Members
Experienced Board: ARG's board of directors are not considered experienced ( 2.4 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: ARG insiders have only sold shares 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
Argosy Property Limited's employee growth, exchange listings and data sources
Key Information
- Name: Argosy Property Limited
- Ticker: ARG
- Exchange: NZSE
- Founded: 2002
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: NZ$1.323b
- Shares outstanding: 842.57m
- Website: https://www.argosy.co.nz
Location
- Argosy Property Limited
- 39 Market Place
- Level 1
- Auckland
- 1010
- New Zealand
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/10/26 06:01 |
| End of Day Share Price | 2021/10/26 00:00 |
| Earnings | 2021/03/31 |
| Annual Earnings | 2021/03/31 |
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.