OTCPK:COFU.F

Stock Analysis Report

Executive Summary

Coronation Fund Managers Limited is a publicly owned investment manager.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Coronation Fund Managers's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

n/a

COFU.F

-4.2%

US Capital Markets

-4.2%

US Market


1 Year Return

n/a

COFU.F

12.0%

US Capital Markets

14.0%

US Market

Return vs Industry: Insufficient data to determine how COFU.F performed against the US Capital Markets industry.

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


Shareholder returns

COFU.FIndustryMarket
7 Dayn/a-4.2%-4.2%
30 Dayn/a-2.1%-1.8%
90 Dayn/a1.1%2.6%
1 Yearn/a14.3%12.0%16.3%14.0%
3 Yearn/a35.2%27.6%43.2%34.0%
5 Yearn/a74.5%58.3%65.9%47.6%

Price Volatility Vs. Market

How volatile is Coronation Fund Managers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Coronation Fund Managers undervalued compared to its fair value and its price relative to the market?

26.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: COFU.F ($2.8) is trading below our estimate of fair value ($3.82)

Significantly Below Fair Value: COFU.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: COFU.F is good value based on its PE Ratio (12.3x) compared to the Capital Markets industry average (33.4x).

PE vs Market: COFU.F is good value based on its PE Ratio (12.3x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: COFU.F is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: COFU.F is overvalued based on its PB Ratio (7.2x) compared to the US Capital Markets industry average (6.6x).

Future Growth

How is Coronation Fund Managers forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COFU.F's forecast earnings growth (6.1% per year) is above the savings rate (1.7%).

Earnings vs Market: COFU.F's earnings (6.1% per year) are forecast to grow slower than the US market (13.1% per year).

High Growth Earnings: COFU.F's earnings are forecast to grow, but not significantly.

Revenue vs Market: COFU.F's revenue (5.1% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: COFU.F's revenue (5.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if COFU.F's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Coronation Fund Managers performed over the past 5 years?

-9.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COFU.F has high quality earnings.

Growing Profit Margin: COFU.F's current net profit margins (36.1%) are lower than last year (38.2%).


Past Earnings Growth Analysis

Earnings Trend: COFU.F's earnings have declined by -9% per year over the past 5 years.

Accelerating Growth: COFU.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: COFU.F had negative earnings growth (-18.7%) over the past year, making it difficult to compare to the Capital Markets industry average (8.4%).


Return on Equity

High ROE: COFU.F's Return on Equity (54.8%) is considered outstanding.


Return on Assets


Return on Capital Employed

Financial Health

How is Coronation Fund Managers'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: COFU.F has a low level of unsold assets or inventory.

Debt Coverage by Assets: COFU.F's debt is covered by short term assets (assets are 7.6x debt).


Financial Institutions Analysis

Asset Level: COFU.F's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if COFU.F has a sufficient allowance for bad loans.

Low Risk Liabilities: COFU.F reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if COFU.F has an acceptable proportion of non-loan assets held.

Low Risk Deposits: COFU.F has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if COFU.F has an appropriate level of bad loans.

Dividend

What is Coronation Fund Managers's current dividend yield, its reliability and sustainability?

8.12%

Current Dividend Yield


Dividend Yield vs Market

company8.1%marketbottom25%1.5%markettop25%3.8%industryaverage2.0%forecastin3Years9.3%

Current dividend yield vs market & industry

Notable Dividend: COFU.F's dividend (8.12%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: COFU.F's dividend (8.12%) is in the top 25% of dividend payers in the US market (3.77%)


Stability and Growth of Payments

Stable Dividend: COFU.F's dividends per share have been stable in the past 10 years.

Growing Dividend: COFU.F's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (99.7%), COFU.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: COFU.F's dividends in 3 years are not forecast to be well covered by earnings (99.8% payout ratio).

Management

How experienced are the management team and are they aligned to shareholders interests?

7.0yrs

Average management tenure


CEO

Anton Pillay (49yo)

7yrs

Tenure

R12,079,000

Compensation

Mr. Anton Clarence Pillay, BBusSc, CA (SA), CFA, AMP (Harvard), is Chief Executive Officer and Director at Coronation Asset Management Proprietary Ltd. Mr. Pillay also is Director of the firm. He joined th ...


CEO Compensation Analysis

Compensation vs Market: Anton's total compensation ($USD798.32K) is below average for companies of similar size in the US market ($USD2.52M).

Compensation vs Earnings: Anton's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Anton Pillay
CEO & Executive Director7yrsR12.08m0.14% ZAR1.4m
Mary-Anne Mazvidzeni Musekiwa
CFO, Financial Director & Executive Director0yrsR1.63m0.0072% ZAR70.2k
Karl Leinberger
Chief Investment Officer11.8yrsno data0.53% ZAR5.1m
Mark Le Roux
Senior Member of Fixed Interest Unit & Portfolio Manager0yrsno datano data
Kirshni Totaram
Global Head of Institutional Business19.6yrsno data1.52% ZAR14.8m
Clinton Martin
Group Financial Manager11.3yrsno datano data
Nishan Maharaj
Head of Fixed Income3.3yrsno datano data
Nazrana Hawa
Company Secretary0.5yrsno datano data
Neville Chester
Senior Portfolio Manager0yrsno data1.24% ZAR12.1m
Gavin Joubert
Head of Emerging Markets & Portfolio Manager0yrsno data1.31% ZAR12.7m

7.0yrs

Average Tenure

37yo

Average Age

Experienced Management: COFU.F's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Anton Pillay
CEO & Executive Director7yrsR12.08m0.14% ZAR1.4m
Mary-Anne Mazvidzeni Musekiwa
CFO, Financial Director & Executive Director0yrsR1.63m0.0072% ZAR70.2k
Andre du Plessis
Chairman of Coronation Fund Managers in Ireland and Director of Coronation Fund Managers in Ireland14.8yrsno datano data
Saamsoodein Pather
Independent Non-Executive Chairman10.9yrsR1.18mno data
John McKenzie
Independent Non-Executive Director10.8yrsR932.00kno data
Hugo Nelson
Independent Non-Executive Director3.3yrsR977.00k0.48% ZAR4.7m
Judith February
Independent Non-Executive Director11.5yrsR796.00kno data
Alexandra Watson
Lead Independent Non-Executive Director0yrsR1.05mno data
Madichaba Nhlumayo
Independent Non-Executive Director0.7yrsR180.00kno data
Lulama Boyce
Independent Non-Executive Director5.3yrsR639.00kno data

10.7yrs

Average Tenure

49yo

Average Age

Experienced Board: COFU.F's board of directors are seasoned and experienced ( 10.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: COFU.F 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

Coronation Fund Managers Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Coronation Fund Managers Limited
  • Ticker: COFU.F
  • Exchange: OTCPK
  • Founded: 1993
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: R14.692b
  • Listing Market Cap: R970.983m
  • Shares outstanding: 349.80m
  • Website: https://www.coronation.com

Location

  • Coronation Fund Managers Limited
  • MontClare Place
  • Seventh Floor
  • Cape Town
  • Western Cape
  • 7708
  • South Africa

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CMLJSE (The Johannesburg Securities Exchange)YesOrdinary SharesZAZARJun 2003
COFU.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2003

Biography

Coronation Fund Managers Limited is a publicly owned investment manager. The firm provides its services to pension and provident funds, medical schemes, unit trusts, banks, insurers and other fund managers, international retirement funds, endowments and family offices. It launches and manages equity, fixed income, and balanced mutual funds. The firm invests in the public equity and fixed income markets across the globe. It employs fundamental analysis with bottom-up stock picking approach. Coronation Fund Managers Limited was founded in 1993 and is based in Cape Town, South Africa. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 01:01
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2019/09/30


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.