OTCPK:ILPM.F

Stock Analysis Report

Permanent TSB Group Holdings

Executive Summary

Permanent TSB Group Holdings plc provides retail, and small and medium sized enterprises banking products and services.

Rewards

Earnings are forecast to grow 34.62% per year

Risk Analysis

No risks detected for ILPM.F from our risk checks.


Snowflake Analysis

Adequate balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has Permanent TSB Group Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ILPM.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.5%

ILPM.F

-3.0%

US Banks

-1.3%

US Market


1 Year Return

n/a

ILPM.F

11.8%

US Banks

22.0%

US Market

Return vs Industry: Insufficient data to determine how ILPM.F performed against the US Banks industry.

Return vs Market: Insufficient data to determine how ILPM.F performed against the US Market.


Shareholder returns

ILPM.FIndustryMarket
7 Day3.5%-3.0%-1.3%
30 Day0.03%-4.7%1.8%
90 Dayn/a2.7%9.3%
1 Yearn/a15.0%11.8%24.6%22.0%
3 Year-59.7%-59.7%26.9%17.9%49.2%39.6%
5 Year1375.0%1375.0%86.3%65.4%77.9%58.3%

Price Volatility Vs. Market

How volatile is Permanent TSB Group Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Permanent TSB Group Holdings undervalued compared to its fair value and its price relative to the market?

0.23x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: ILPM.F ($1.14) is trading above our estimate of fair value ($0.21)

Significantly Below Fair Value: ILPM.F is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ILPM.F is unprofitable, so we can't compare its PE Ratio to the Banks industry average.

PE vs Market: ILPM.F is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ILPM.F is good value based on its PB Ratio (0.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Permanent TSB Group Holdings forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

37.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ILPM.F is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: ILPM.F is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ILPM.F's is expected to become profitable in the next 3 years.

Revenue vs Market: ILPM.F's revenue is expected to decline over the next 3 years (-0.02% per year).

High Growth Revenue: ILPM.F's revenue is forecast to decline over the next 3 years (-0.02% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ILPM.F's Return on Equity is forecast to be low in 3 years time (2.1%).


Next Steps

Past Performance

How has Permanent TSB Group Holdings performed over the past 5 years?

36.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ILPM.F is currently unprofitable.

Growing Profit Margin: ILPM.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ILPM.F is unprofitable, but has reduced losses over the past 5 years at a rate of 36.8% per year.

Accelerating Growth: Unable to compare ILPM.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ILPM.F is unprofitable, making it difficult to compare its past year earnings growth to the Banks industry (27.1%).


Return on Equity

High ROE: ILPM.F has a negative Return on Equity (-1.61%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Permanent TSB Group Holdings's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: ILPM.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: ILPM.F's debt is covered by short term assets (assets are 2.6x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable ILPM.F has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: ILPM.F is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -66.4% per year.


Financial Institutions Analysis

Asset Level: ILPM.F's level of assets compared to its equity is moderate.

Allowance for Bad Loans: ILPM.F has a low allowance for bad loans.

Low Risk Liabilities: ILPM.F's liabilities are made up of primarily low risk sources of funding.

Loan Level: ILPM.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ILPM.F's loans are broadly funded by customer deposits.

Level of Bad Loans: ILPM.F has a high level of bad loans (9.98%)


Next Steps

Dividend

What is Permanent TSB Group Holdings's current dividend yield, its reliability and sustainability?

0.70%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Years0.7%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ILPM.F's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ILPM.F's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ILPM.F's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ILPM.F's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ILPM.F is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ILPM.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Permanent TSB Group Holdings's salary, the management and board of directors tenure and is there insider trading?

2.7yrs

Average management tenure


CEO

Jeremy Masding (53yo)

7.6yrs

Tenure

€544,000

Compensation

Mr. Jeremy John Masding has been the Group Chief Executive Officer at Permanent TSB Group Holdings PLC (Alternate Name: Irish Life & Permanent Group Holdings Plc) since June 29, 2012 and permanent tsb p.l. ...


CEO Compensation Analysis

Compensation vs Market: Jeremy's total compensation ($USD605.18K) is below average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Jeremy's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.7yrs

Average Tenure

Experienced Management: ILPM.F's management team is considered experienced (2.7 years average tenure).


Board Age and Tenure

3.1yrs

Average Tenure

62yo

Average Age

Experienced Board: ILPM.F's board of directors are considered experienced (3.1 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$11,29403 Sep 19
Timothy Slattery
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares10,000
Max PriceUS$1.13
BuyUS$10,96603 Sep 19
Julie O'Neill
EntityIndividual
Role
Lead Director
Senior Independent Director
Shares10,000
Max PriceUS$1.10
BuyUS$16,79306 Aug 19
Richard Pike
EntityIndividual
Shares12,975
Max PriceUS$1.29
BuyUS$22,01729 Jul 19
Robert Elliott
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares16,500
Max PriceUS$1.33

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Eamonn Crowley (49yo)

    Group CFO & Executive Director

    • Tenure: 2.7yrs
    • Compensation: €447.00k
  • Jeremy Masding (53yo)

    Group CEO & Executive Director

    • Tenure: 7.6yrs
    • Compensation: €544.00k
  • Mike Frawley

    Chief Risk Officer

    • Tenure: 1.1yrs
  • Gerry Hickey

    Managing Director of Capital Home Loans

    • Ger Mitchell

      Group Human Resources Director

      • Tenure: 2.7yrs
    • Shane O’Sullivan

      Group Director of Operations

      • Tenure: 2.8yrs
    • Andrew Walsh

      Chief Legal Officer

      • Conor Ryan

        Company Secretary

        • Tenure: 2.7yrs
      • Paul Redmond

        Head of Group Internal Audit

        • Tom Hayes

          Group Chief Technology Officer

          • Tenure: 2.3yrs

        Board Members

        • Robert Elliott (66yo)

          Independent Chairman of the Board

          • Tenure: 2.8yrs
          • Compensation: €290.00k
        • Donal Courtney (54yo)

          Independent Non-Executive Director

          • Tenure: 1.3yrs
          • Compensation: €22.00k
        • Eamonn Crowley (49yo)

          Group CFO & Executive Director

          • Tenure: 2.7yrs
          • Compensation: €447.00k
        • Ronan O’Neill (65yo)

          Independent Non-Executive Director

          • Tenure: 3.5yrs
          • Compensation: €85.00k
        • Jeremy Masding (53yo)

          Group CEO & Executive Director

          • Tenure: 7.6yrs
          • Compensation: €544.00k
        • Julie O'Neill (64yo)

          Senior Independent Director

          • Tenure: 3.8yrs
          • Compensation: €97.00k
        • Ken Slattery (70yo)

          Independent Non-Executive Director

          • Tenure: 6.4yrs
          • Compensation: €67.00k
        • Andrew Power (62yo)

          Independent Non-Executive Director

          • Tenure: 3.3yrs
          • Compensation: €67.00k
        • Ruth Wandhöfer (43yo)

          Independent Non-Executive Director

          • Tenure: 1.3yrs
          • Compensation: €11.00k
        • Marian Corcoran

          Non-Executive Director

          • Tenure: 0.3yrs

        Company Information

        Permanent TSB Group Holdings plc's company bio, employee growth, exchange listings and data sources


        Key Information

        • Name: Permanent TSB Group Holdings plc
        • Ticker: ILPM.F
        • Exchange: OTCPK
        • Founded: 1884
        • Industry: Diversified Banks
        • Sector: Banks
        • Market Cap: €454.691m
        • Listing Market Cap: €501.368m
        • Shares outstanding: 454.69m
        • Website: https://www.permanenttsbgroup.ie

        Number of Employees


        Location

        • Permanent TSB Group Holdings plc
        • 56 - 59, St. Stephen’s Green
        • Dublin
        • Co. Dublin
        • 2
        • Ireland

        Listings

        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
        ILPM.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDApr 1999
        IL0AISE (Irish Stock Exchange)YesOrdinary SharesIEEURApr 1999
        IL0ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 1999
        IL0AIBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 1999
        IL0ALSE (London Stock Exchange)YesOrdinary SharesGBEURApr 1999
        IL0ALBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 1999
        ILPM.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2007

        Biography

        Permanent TSB Group Holdings plc provides retail, and small and medium sized enterprises banking products and services. It offers current accounts, retail and corporate deposits, institutional deposits, residential mortgages, term loans, credit cards, consumer finance, and overdrafts. The company also offers general and life insurance, pensions, and investments; and mobile, phone, and online banking services. It operates through a network of 15 branches in North East region, 18 branches in Dublin region, 15 branches in South East region, 14 branches in West region, and 15 branches in South region of the Republic of Ireland. The company was formerly known as Irish Life & Permanent Group Holdings plc and changed its name to Permanent TSB Group Holdings plc in 2012. Permanent TSB Group Holdings plc was founded in 1884 and is based in Dublin, Ireland. 


        Company Analysis and Financial Data Status

        All financial data provided by Standard & Poor's Capital IQ.
        DataLast Updated (UTC time)
        Company Analysis2020/01/24 23:56
        End of Day Share Price2020/01/22 00:00
        Earnings2019/06/30
        Annual Earnings2018/12/31


        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.