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GAIN Capital Holdings

NYSE:GCAP
Snowflake Description

Fair value second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GCAP
NYSE
$249M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

GAIN Capital Holdings, Inc., together with its subsidiary, provides trading services and solutions to retail, institutional, and futures service customers worldwide. The last earnings update was 10 days ago. More info.


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GCAP Share Price and Events
7 Day Returns
1.8%
NYSE:GCAP
2.4%
US Capital Markets
1.2%
US Market
1 Year Returns
-3.5%
NYSE:GCAP
-11.9%
US Capital Markets
3%
US Market
GCAP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GAIN Capital Holdings (GCAP) 1.8% -7.5% 6.4% -3.5% 6.7% -37.8%
US Capital Markets 2.4% 0.6% 12.7% -11.9% 57% 59.3%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • GCAP outperformed the Capital Markets industry which returned -11.9% over the past year.
  • GCAP underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
GCAP
Industry
5yr Volatility vs Market

GCAP Value

 Is GAIN Capital Holdings 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 GAIN Capital Holdings 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 GAIN Capital Holdings.

NYSE:GCAP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $6.31 * 4.8%
$0.31
Book Value of Equity per Share Median Book Value from the past 5 years. $6.31
Discount Rate (Cost of Equity) See below 8.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NYSE:GCAP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 21%) (53.06%))
1.022
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.022 * 5.96%)
8.82%

Discounted Cash Flow Calculation for NYSE:GCAP using Excess Returns Model Model

The calculations below outline how an intrinsic value for GAIN Capital Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:GCAP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.8% – 8.82%) * $6.31)
$-0.25
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.25 / (8.82% - 2.73%)
$-4.13
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $6.31 + $-4.13
$2.18
NYSE:GCAP Discount to Share Price
Calculation Result
Value per share (USD) From above. $2.18
Current discount Discount to share price of $6.66
= -1 x ($6.66 - $2.18) / $2.18
-205.2%

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

  • The current share price of GAIN Capital Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 GAIN Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GAIN Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:GCAP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.60
NYSE:GCAP Share Price ** NYSE (2019-03-20) in USD $6.66
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 25.13x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

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

** Primary Listing of GAIN Capital Holdings.

NYSE:GCAP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:GCAP Share Price ÷ EPS (both in USD)

= 6.66 ÷ 0.60

11.02x

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

  • GAIN Capital Holdings is good value based on earnings compared to the US Capital Markets industry average.
  • GAIN Capital Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does GAIN Capital Holdings's expected growth come at a high price?
Raw Data
NYSE:GCAP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
10.9%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.17x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NYSE:GCAP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.02x ÷ 10.9%

1.01x

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

  • GAIN Capital Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on GAIN Capital Holdings's assets?
Raw Data
NYSE:GCAP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $7.87
NYSE:GCAP Share Price * NYSE (2019-03-20) in USD $6.66
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NYSE:GCAP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:GCAP Share Price ÷ Book Value per Share (both in USD)

= 6.66 ÷ 7.87

0.85x

* Primary Listing of GAIN Capital Holdings.

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

  • GAIN Capital Holdings is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess GAIN Capital Holdings'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. GAIN Capital Holdings has a total score of 3/6, 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.

GCAP Future Performance

 How is GAIN Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 4 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
10.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GAIN Capital Holdings expected to grow at an attractive rate?
  • GAIN Capital Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • GAIN Capital Holdings's earnings growth is positive but not above the United States of America market average.
  • GAIN Capital Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:GCAP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:GCAP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 10.9%
NYSE:GCAP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.1%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*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
NYSE:GCAP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:GCAP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 370 30 4
2019-12-31 341 21 4
NYSE:GCAP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 341 -129 26
2018-09-30 357 5 24
2018-06-30 336 59 12
2018-03-31 343 -43 20
2017-12-31 266 6 -14
2017-09-30 322 25 14
2017-06-30 321 142 11
2017-03-31 339 143 6
2016-12-31 374 202 27
2016-09-30 389 103 23
2016-06-30 445 9 31
2016-03-31 443 147 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GAIN Capital Holdings's earnings are expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).
  • GAIN Capital Holdings's revenue is expected to grow by 4.1% 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
NYSE:GCAP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from GAIN Capital Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:GCAP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.86 0.93 0.79 2.00
2019-12-31 0.59 0.62 0.56 2.00
NYSE:GCAP Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.60
2018-09-30 0.54
2018-06-30 0.27
2018-03-31 0.44
2017-12-31 -0.30
2017-09-30 0.29
2017-06-30 0.22
2017-03-31 0.12
2016-12-31 0.55
2016-09-30 0.48
2016-06-30 0.64
2016-03-31 0.29

*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.
  • Unable to establish if GAIN Capital Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess GAIN Capital Holdings'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
GAIN Capital Holdings 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.

GCAP Past Performance

  How has GAIN Capital Holdings 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 GAIN Capital Holdings's growth in the last year to its industry (Capital Markets).
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.
  • GAIN Capital Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • GAIN Capital Holdings has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • GAIN Capital Holdings has become profitable in the last year making it difficult to compare the US Capital Markets industry average.
Earnings and Revenue History
GAIN Capital Holdings'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 GAIN Capital Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:GCAP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 341.42 26.42 181.95
2018-09-30 356.87 24.42 185.32
2018-06-30 335.51 12.01 178.28
2018-03-31 342.61 20.32 176.73
2017-12-31 265.72 -13.82 157.06
2017-09-30 322.00 13.64 168.55
2017-06-30 320.82 10.76 172.01
2017-03-31 338.66 5.62 179.45
2016-12-31 374.03 26.84 176.62
2016-09-30 388.64 23.42 188.68
2016-06-30 444.57 31.29 201.49
2016-03-31 443.28 14.10 206.33
2015-12-31 421.80 10.59 196.28
2015-09-30 438.58 16.78 192.21
2015-06-30 409.30 23.52 178.14
2015-03-31 373.66 26.81 163.46
2014-12-31 361.44 22.77 161.80
2014-09-30 331.03 6.36 159.26
2014-06-30 295.36 2.82 147.46
2014-03-31 299.56 24.73 136.57
2013-12-31 270.06 27.95 125.00
2013-09-30 217.10 23.10 108.23
2013-06-30 196.49 20.72 102.21
2013-03-31 169.18 7.99 99.25
2012-12-31 152.66 2.62 96.55
2012-09-30 150.28 3.07 101.82
2012-06-30 164.22 7.47 103.43
2012-03-31 174.13 13.05 101.45

*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.
  • GAIN Capital Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • GAIN Capital Holdings used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if GAIN Capital Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess GAIN Capital Holdings'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 Capital Markets 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.
GAIN Capital Holdings has a total score of 0/6, 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.

GCAP Health

 How is GAIN Capital Holdings'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 GAIN Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GAIN Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GAIN Capital Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GAIN Capital Holdings'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 covered by short term assets, assets are 9.3x 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 GAIN Capital Holdings Company Filings, last reported 2 months ago.

NYSE:GCAP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 297.77 132.11 1,121.33
2018-09-30 359.75 136.86 1,249.63
2018-06-30 355.36 135.29 1,280.68
2018-03-31 307.95 133.73 1,202.93
2017-12-31 290.16 132.22 1,188.52
2017-09-30 292.96 130.58 1,185.20
2017-06-30 295.52 127.28 1,140.47
2017-03-31 279.11 126.01 1,225.81
2016-12-31 300.78 124.77 1,180.23
2016-09-30 306.69 123.55 1,290.32
2016-06-30 316.75 122.35 1,150.26
2016-03-31 318.79 121.19 1,065.69
2015-12-31 317.13 121.74 1,092.51
2015-09-30 317.32 120.87 1,173.06
2015-06-30 326.88 119.76 1,244.43
2015-03-31 265.67 69.02 916.86
2014-12-31 261.26 68.37 898.91
2014-09-30 262.77 67.73 931.91
2014-06-30 245.47 67.09 852.89
2014-03-31 249.35 66.47 845.91
2013-12-31 234.40 65.36 779.19
2013-09-30 222.85 33.20 712.39
2013-06-30 179.05 10.00 536.78
2013-03-31 163.61 10.00 468.99
2012-12-31 162.83 0.00 483.13
2012-09-30 170.02 0.00 7.65
2012-06-30 167.56 0.00 22.36
2012-03-31 164.16 0.00 351.36
  • GAIN Capital Holdings's level of debt (44.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (27.9% vs 44.4% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on GAIN Capital Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess GAIN Capital Holdings'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. GAIN Capital Holdings has a total score of 2/6, 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.

GCAP Dividends

 What is GAIN Capital Holdings'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
3.6%
Current annual income from GAIN Capital Holdings dividends. Estimated to be 3.6% next year.
If you bought $2,000 of GAIN Capital Holdings shares you are expected to receive $72 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?
  • GAIN Capital Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • GAIN Capital Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Upcoming dividend payment

Purchase GAIN Capital Holdings on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
NYSE:GCAP 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 4 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

NYSE:GCAP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.24 1.00
2019-12-31 0.24 1.00
NYSE:GCAP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-11 0.240 3.615
2019-02-28 0.240 3.368
2018-11-06 0.240 3.496
2018-10-25 0.240 3.158
2018-04-26 0.240 3.209
2018-03-08 0.240 3.283
2017-11-08 0.240 3.176
2017-10-26 0.240 3.394
2017-08-08 0.240 3.737
2017-08-03 0.240 3.431
2017-05-10 0.240 3.923
2017-05-04 0.240 3.862
2017-03-15 0.240 3.084
2017-03-09 0.240 2.962
2016-11-08 0.240 3.432
2016-11-03 0.240 4.752
2016-08-09 0.200 3.352
2016-08-04 0.200 3.003
2016-05-09 0.200 2.997
2016-05-05 0.200 2.928
2015-11-03 0.200 2.802
2015-08-06 0.200 2.602
2015-05-11 0.200 2.270
2015-05-05 0.200 2.030
2015-03-16 0.200 2.042
2015-02-26 0.200 2.031
2014-08-11 0.200 2.593
2014-05-12 0.200 2.726
2014-05-08 0.200 2.391
2013-10-31 0.200 2.100
2013-08-07 0.200 2.064
2013-05-07 0.200 3.498
2013-03-06 0.200 4.271
2012-11-01 0.200 4.677
2012-07-31 0.200 4.241
2012-05-09 0.200 4.093
2012-02-28 0.200 3.864
2011-10-27 0.200 3.056

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

  • Whilst dividend payments have been stable, GAIN Capital Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but GAIN Capital Holdings only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of GAIN Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess GAIN Capital Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 GAIN Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GAIN Capital Holdings has a total score of 3/6, see the detailed checks below.


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

GCAP Management

 What is the CEO of GAIN Capital Holdings'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
Glenn Stevens
COMPENSATION $2,321,308
AGE 55
TENURE AS CEO 11.8 years
CEO Bio

Mr. Glenn H. Stevens has been the Chief Executive Officer of GAIN Capital Group, LLC since June 16, 2007. Mr. Stevens has been the Chief Executive Officer and President of GAIN Capital Holdings, Inc. since June 2007. He served as Managing Director of GAIN Capital Group, LLC until June 16, 2007. Prior to joining GAIN in 2000, he served as Managing Director, Head of North American sales and trading of Natwest Bank. He served as a Senior Member of Natwest's North American Management Committee, during which time he spearheaded its e-commerce initiative in North America and relocated its entire trading floor. From 1990 to 1997, he served at Merrill Lynch and Co., and served as a USD/JPY Trader and served as its Managing Director and Chief Dealer for Spot and Forward FX. During this time he served as the Federal Reserve Bank's FX representative for investment banks. His Wall Street career began at Bankers Trust Company, where since 1984, he served as Corporate Sales Desk before quickly moving into a trading position on the spot FX desk and as Vice President until 1990. He has 25 years of FX experience includes senior trading positions at some of Wall Street's most prestigious financial institutions. Mr. Stevens has been a Director of GAIN Capital Holdings, Inc. since June 2007. He serves as a Director of Compliance Science, Inc. Mr. Stevens serves as a Director of GAIN Capital Group, Inc. Widely known and respected in the industry, he is a frequent Guest on CNBC and has also appeared as FX Market Analyst on FOX News' Your World with Neil Cavuto, CNNfn and Bloomberg Radio, among others. Mr. Stevens holds an MBA in Finance from Columbia University and a BS in Finance from Bucknell University.

CEO Compensation
  • Glenn's compensation has been consistent with company performance over the past year.
  • Glenn's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the GAIN Capital Holdings management team in years:

4.2
Average Tenure
50
Average Age
  • The tenure for the GAIN Capital Holdings management team is about average.
Management Team

Glenn Stevens

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
11.8 yrs

Nigel Rose

TITLE
Chief Financial Officer
COMPENSATION
$870K
AGE
52
TENURE
3.4 yrs

Alastair Hine

TITLE
Chief Operating Officer
COMPENSATION
$79K
AGE
44
TENURE
1.3 yrs

Diego Rotsztain

TITLE
Head of Corporate Development
COMPENSATION
$1M
AGE
48
TENURE
8.2 yrs

Samantha Roady

TITLE
President of Retail
COMPENSATION
$919K
AGE
48
TENURE
3 yrs

Mike Lear

TITLE
Chief Information Officer

Tim O'Sullivan

TITLE
Chief Risk Officer
COMPENSATION
$883K
AGE
54
TENURE
6.2 yrs

Graham Beale

TITLE
Head of Business Development - GTX
TENURE
4.6 yrs

John Miesner

TITLE
MD & Head of Global Sales - GTX
TENURE
4.2 yrs

Alex Howard

TITLE
Managing Director of Asia Pacific
TENURE
0.5 yrs
Board of Directors Tenure

Average tenure and age of the GAIN Capital Holdings board of directors in years:

8.2
Average Tenure
55
Average Age
  • The tenure for the GAIN Capital Holdings board of directors is about average.
Board of Directors

Joe Schenk

TITLE
Chairman of the Board
COMPENSATION
$175K
AGE
59
TENURE
1.5 yrs

Glenn Stevens

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
11.8 yrs

Peter Quick

TITLE
Director
COMPENSATION
$187K
AGE
62
TENURE
12.3 yrs

Chris Sugden

TITLE
Director
COMPENSATION
$166K
AGE
48
TENURE
12.9 yrs

Chris Calhoun

TITLE
Director
COMPENSATION
$146K
AGE
48
TENURE
8.4 yrs

Tom Bevilacqua

TITLE
Director
COMPENSATION
$100K
AGE
61
TENURE
7.9 yrs

Alex Goor

TITLE
Director
COMPENSATION
$112K
AGE
46
TENURE
1.5 yrs

Jason Granite

TITLE
Director
TENURE
0.3 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 ($) Value ($)
23. Nov 18 Buy Joseph Schenk Individual 21. Nov 18 21. Nov 18 10,000 $7.32 $73,242
02. Jun 18 Sell Glenn Stevens Individual 30. May 18 30. May 18 -9,913 $7.97 $-79,007
02. Jun 18 Buy Alexander Goor Individual 30. May 18 30. May 18 9,913 $7.97 $79,007
27. Mar 18 Buy IPGL Fund Investments Limited Company 26. Mar 18 26. Mar 18 30,353 $6.73 $204,276
X
Management checks
We assess GAIN Capital Holdings'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. GAIN Capital Holdings 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.

GCAP News

Simply Wall St News

Volatility 101: Should GAIN Capital Holdings Shares Have Dropped 31%?

(NYSE:GCAP), since the last five years saw the share price fall 31%. … By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During the five years over which the share price declined, GAIN Capital Holdings's earnings per share (EPS) dropped by 3.5% each year.

Simply Wall St -

Is GAIN Capital Holdings, Inc. (NYSE:GCAP) An Attractive Dividend Stock?

Historically, GAIN Capital Holdings, Inc. … Let's take a look at GAIN Capital Holdings in more detail. … View our latest analysis for GAIN Capital Holdings?

Simply Wall St -

Who Has Been Buying GAIN Capital Holdings Inc (NYSE:GCAP) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So shareholders might well want to know whether insiders have been buying or selling shares in GAIN Capital Holdings Inc (NYSE:GCAP). … GAIN Capital Holdings Insider Transactions Over The Last Year.

Simply Wall St -

Is GAIN Capital Holdings Inc's (NYSE:GCAP) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … Our data indicates that GAIN Capital Holdings Inc is worth US$336m, and total annual CEO compensation is US$2m. … Thus we can conclude that Glenn Stevens receives more in total compensation than the median of a group of companies in the same market, and of similar size to GAIN Capital Holdings Inc

Simply Wall St -

Investors In GAIN Capital Holdings Inc (NYSE:GCAP) Should Consider This Data

Historically, GAIN Capital Holdings Inc (NYSE:GCAP) has paid a dividend to shareholders. … Let's dig deeper into whether GAIN Capital Holdings should have a place in your portfolio. … See our latest analysis for GAIN Capital Holdings

Simply Wall St -

Has GAIN Capital Holdings Inc (NYSE:GCAP) Improved Earnings In Recent Times?

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … Investors may find my commentary, albeit very high-level and brief, on GAIN Capital Holdings Inc (NYSE:GCAP) useful as an attempt to give more color around how GAIN Capital Holdings is currently performing. … View our latest analysis for GAIN Capital Holdings?

Simply Wall St -

Should You Follow This Trend For GAIN Capital Holdings Inc (NYSE:GCAP)?

some insider buying over the past three months, with insiders investing in. … Generally, insiders buying more shares in their own firm sends a bullish signal … A research published in The MIT Press (1998) concluded that stocks following insider buying outperformed the market by 4.5%

Simply Wall St -

Read This Before Buying GAIN Capital Holdings Inc (NYSE:GCAP) For Its Upcoming US$00.060 Dividend

If you are interested in cashing in on GAIN Capital Holdings Inc's (NYSE:GCAP) upcoming dividend of $0.060 per share, you only have 2 days left to buy the shares before its ex-dividend date, 11 June 2018, in time for dividends payable on the 19 June 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into GAIN Capital Holdings's latest financial data to analyse its dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

Is Buying GAIN Capital Holdings Inc (NYSE:GCAP) For Its Upcoming $0.06 Dividend A Good Choice?

See our latest analysis for GAIN Capital Holdings Here's how I find good dividend stocks When researching a dividend stock, I always follow the following screening criteria: Is it paying an annual yield above 75% of dividend payers? … NYSE:GCAP Historical Dividend Yield Jun 7th 18 How well does GAIN Capital Holdings fit our criteria? … Compared to its peers, GAIN Capital Holdings generates a yield of 2.91%, which is high for Capital Markets stocks but still below the market's top dividend payers.

Simply Wall St -

Should Income Investors Buy GAIN Capital Holdings Inc (NYSE:GCAP) Before Its Ex-Dividend?

Check out our latest analysis for GAIN Capital Holdings 5 checks you should use to assess a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is its annual yield among the top 25% of dividend-paying companies? … NYSE:GCAP Historical Dividend Yield Mar 22nd 18 How does GAIN Capital Holdings fare? … In terms of its peers, GAIN Capital Holdings has a yield of 3.32%, which is high for Capital Markets stocks but still below the market's top dividend payers.

Simply Wall St -

GCAP Company Info

Description

GAIN Capital Holdings, Inc., together with its subsidiary, provides trading services and solutions to retail, institutional, and futures service customers worldwide. The company operates in two segments, Retail and Futures. It specializes in over-the-counter (OTC) and exchange-traded markets. The company offers access to a range of financial products, including spot foreign exchange (forex) and precious metals trading; and spread bets and contracts for differences on currencies, commodities, indices, individual equities, bonds, options, and interest rate products, as well as OTC options on forex. It provides services to retail customers through FOREX.com and Cityindex.com, as well as through brokers and white label partners. The company offers execution and risk management services for exchange-traded futures and futures options on the United States and European futures and options exchanges; and online trading services. GAIN Capital Holdings, Inc. was founded in 1999 and is headquartered in Bedminster, New Jersey.

Details
Name: GAIN Capital Holdings, Inc.
GCAP
Exchange: NYSE
Founded: 1999
$248,988,109
37,385,602
Website: http://www.gaincapital.com
Address: GAIN Capital Holdings, Inc.
Bedminster One,
Suite 11,
Bedminster,
New Jersey, 07921,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE GCAP Common Stock New York Stock Exchange US USD 15. Dec 2010
DB 58G Common Stock Deutsche Boerse AG DE EUR 15. Dec 2010
Number of employees
Current staff
Staff numbers
638
GAIN Capital Holdings employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 00:25
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/11
Last earnings filing: 2019/03/11
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.