Warehouse Group
Market Cap
NZ$1.1b
Last Updated
2021/01/25 06:01 UTC
Data Sources
Company Financials +
Executive Summary
The Warehouse Group Limited, together with its subsidiaries, engages in the retail of general merchandise and apparel in New Zealand. More Details
Rewards
Risk Analysis
Snowflake Analysis
Good value with adequate balance sheet.
Similar Companies
Share Price & News
How has Warehouse Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WHS is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: WHS's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
5.4%
WHS
5.8%
NZ Multiline Retail
2.1%
NZ Market
1 Year Return
12.7%
WHS
18.8%
NZ Multiline Retail
10.0%
NZ Market
Return vs Industry: WHS underperformed the NZ Multiline Retail industry which returned 18.8% over the past year.
Return vs Market: WHS exceeded the NZ Market which returned 10% over the past year.
Shareholder returns
| WHS | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.4% | 5.8% | 2.1% |
| 30 Day | 13.1% | 5.1% | 3.0% |
| 90 Day | 29.2% | 14.1% | 9.1% |
| 1 Year | 12.7%12.7% | 23.2%18.8% | 14.1%10.0% |
| 3 Year | 79.7%51.2% | 91.4%21.2% | 56.8%36.1% |
| 5 Year | 60.2%16.1% | 114.6%23.7% | 112.9%61.3% |
Long-Term Price Volatility Vs. Market
How volatile is Warehouse Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall St
Does Warehouse Group's (NZSE:WHS) Statutory Profit Adequately Reflect Its Underlying Profit?2 weeks ago | Simply Wall St
What Do The Returns On Capital At Warehouse Group (NZSE:WHS) Tell Us?1 month ago | Simply Wall St
Did You Participate In Any Of Warehouse Group's (NZSE:WHS) Respectable 45% Return?Valuation
Is Warehouse 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: WHS (NZ$3.1) is trading below our estimate of fair value (NZ$66.57)
Significantly Below Fair Value: WHS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WHS is good value based on its PE Ratio (24.1x) compared to the XX Multiline Retail industry average (25.5x).
PE vs Market: WHS is good value based on its PE Ratio (24.1x) compared to the NZ market (25.3x).
Price to Earnings Growth Ratio
PEG Ratio: WHS is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: WHS is overvalued based on its PB Ratio (2.8x) compared to the XO Multiline Retail industry average (1.9x).
Next Steps
Future Growth
How is Warehouse Group forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
18.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WHS's forecast earnings growth (18.7% per year) is above the savings rate (2.3%).
Earnings vs Market: WHS's earnings (18.7% per year) are forecast to grow faster than the NZ market (11.7% per year).
High Growth Earnings: WHS's earnings are forecast to grow, but not significantly.
Revenue vs Market: WHS's revenue (1% per year) is forecast to grow slower than the NZ market (5.1% per year).
High Growth Revenue: WHS's revenue (1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WHS's Return on Equity is forecast to be high in 3 years time (21.2%)
Next Steps
Past Performance
How has Warehouse Group performed over the past 5 years?
-7.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WHS has a large one-off gain of NZ$10.3M impacting its August 2 2020 financial results.
Growing Profit Margin: WHS's current net profit margins (1.4%) are lower than last year (2.2%).
Past Earnings Growth Analysis
Earnings Trend: WHS's earnings have declined by 7.9% per year over the past 5 years.
Accelerating Growth: WHS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WHS had negative earnings growth (-33.7%) over the past year, making it difficult to compare to the Multiline Retail industry average (-29.4%).
Return on Equity
High ROE: WHS's Return on Equity (11.6%) is considered low.
Next Steps
Financial Health
How is Warehouse Group's financial position?
Financial Position Analysis
Short Term Liabilities: WHS's short term assets (NZ$646.2M) exceed its short term liabilities (NZ$626.3M).
Long Term Liabilities: WHS's short term assets (NZ$646.2M) do not cover its long term liabilities (NZ$852.2M).
Debt to Equity History and Analysis
Debt Level: WHS's debt to equity ratio (7.2%) is considered satisfactory.
Reducing Debt: WHS's debt to equity ratio has reduced from 61.2% to 7.2% over the past 5 years.
Debt Coverage: WHS's debt is well covered by operating cash flow (1506.1%).
Interest Coverage: WHS's interest payments on its debt are not well covered by EBIT (2x coverage).
Balance Sheet
Next Steps
Dividend
What is Warehouse Group current dividend yield, its reliability and sustainability?
6.12%
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate WHS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate WHS's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if WHS's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if WHS's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: WHS is not paying a notable dividend for the NZ market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of WHS's dividend in 3 years as they are not forecast to pay a notable one for the NZ market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.8yrs
Average management tenure
CEO
Nick Grayston
5yrs
Tenure
NZ$2,237,000
Compensation
Mr. Nick Grayston has been Group Chief Executive Officer of The Warehouse Group Limited since January 2015. Mr. Grayston joined Warehouse Group Limited in December 2015. Prior to, he has held a number of s...
CEO Compensation Analysis
Compensation vs Market: Nick's total compensation ($USD0.00) is below average for companies of similar size in the NZ market ($USD685.84K).
Compensation vs Earnings: Nick's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Group Chief Executive Officer | 5yrs | NZ$2.24m | no data | |
| Group Chief Financial Officer | 2.83yrs | no data | no data | |
| Chief Operating Officer | 9.67yrs | no data | no data | |
| Chief Information & Digital Officer | 3.42yrs | no data | no data | |
| Chief Information Officer | no data | no data | no data | |
| Group Public Relations Manager | no data | no data | no data | |
| Chief Sales Officer | no data | no data | no data | |
| Chief Human Resource Officer | 1yr | no data | no data | |
| Chief Product Officer | 9.67yrs | no data | no data | |
| Chief Digital Officer | no data | no data | no data | |
| Chief Experience Officer | 4.25yrs | no data | no data | |
| Chief Transformation Officer | 2.92yrs | no data | no data |
3.8yrs
Average Tenure
Experienced Management: WHS's management team is considered experienced (3.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Chair | 4.33yrs | NZ$166.00k | 0.47% NZ$ 5.0m | |
| Independent Deputy Chairman | 9.67yrs | NZ$123.00k | 0.18% NZ$ 1.9m | |
| Independent Non-Executive Director | 7.25yrs | NZ$86.03k | 0.050% NZ$ 529.7k | |
| Independent Non-Executive Director | 8.25yrs | NZ$84.53k | 0.000010% NZ$ 106.3 | |
| Non-Executive Director | 0.17yr | no data | 0.0014% NZ$ 14.8k | |
| Independent Non-Executive Director | 4.33yrs | NZ$86.03k | no data | |
| Independent Non-Executive Director | 0.75yr | no data | 0.000020% NZ$ 212.7 | |
| Independent Non-Executive Director | 2.25yrs | no data | no data |
4.3yrs
Average Tenure
63.5yo
Average Age
Experienced Board: WHS's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: WHS 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
The Warehouse Group Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: The Warehouse Group Limited
- Ticker: WHS
- Exchange: NZSE
- Founded: 1982
- Industry: General Merchandise Stores
- Sector: Retail
- Market Cap: NZ$1.063b
- Shares outstanding: 345.29m
- Website: https://www.thewarehousegroup.co.nz
Number of Employees
Location
- The Warehouse Group Limited
- 26 The Warehouse Way
- Northcote
- Auckland
- 627
- New Zealand
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| WHS | NZSE (New Zealand Stock Exchange) | Yes | Ordinary Shares | NZ | NZD | Jan 1995 |
Biography
The Warehouse Group Limited, together with its subsidiaries, engages in the retail of general merchandise and apparel in New Zealand. It also sells stationery products, technology and appliance products, a...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/25 06:01 |
| End of Day Share Price | 2021/01/25 00:00 |
| Earnings | 2020/08/02 |
| Annual Earnings | 2020/08/02 |
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.