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Mercantile Investment Trust

OTCPK:MINX.F
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MINX.F
OTCPK
£1B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

The Mercantile Investment Trust plc is an open ended equity mutual fund launched and managed by JPMorgan Funds Limited. The last earnings update was 50 days ago. More info.


Add to Portfolio Compare Print
  • Mercantile Investment Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
MINX.F Share Price and Events
7 Day Returns
0%
OTCPK:MINX.F
0.5%
US Capital Markets
3.5%
US Market
1 Year Returns
-
OTCPK:MINX.F
-4.2%
US Capital Markets
4.5%
US Market
MINX.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mercantile Investment Trust (MINX.F) 0% 0% -3.7% - - -
US Capital Markets 0.5% -0.2% -7.5% -4.2% 38.1% 62.4%
US Market 3.5% 1.6% -5.1% 4.5% 11.1% -52.4%
1 Year Return vs Industry and Market
  • No trading data on MINX.F.
  • No trading data on MINX.F.
Price Volatility
MINX.F
Industry
5yr Volatility vs Market

MINX.F Value

 Is Mercantile Investment Trust 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 Mercantile Investment Trust 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 Mercantile Investment Trust.

OTCPK:MINX.F 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
= £2.01 * 11.7%
£0.24
Book Value of Equity per Share Median Book Value from the past 5 years. £2.01
Discount Rate (Cost of Equity) See below 9.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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 OTCPK:MINX.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.8
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.804 (1 + (1- 19%) (12.21%))
0.883
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.883 * 7.05%)
9.18%

Discounted Cash Flow Calculation for OTCPK:MINX.F using Excess Returns Model Model

The calculations below outline how an intrinsic value for Mercantile Investment Trust 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.

OTCPK:MINX.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.7% – 9.18%) * £2.01)
£0.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.05 / (9.18% - 2.95%)
£0.83
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £2.01 + £0.83
£2.83
OTCPK:MINX.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:MINX.F represents 1.41627x of LSE:MRC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.41627x
Value per Share
(Listing Adjusted, USD)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.83 x 1.41627
$4.01
Value per share (USD) From above. $4.01
Current discount Discount to share price of $2.60
= -1 x ($2.60 - $4.01) / $4.01
35.2%

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

Current Discount
Amount off the current price Mercantile Investment Trust is available for.
Intrinsic value
35%
Share price is $2.6 vs Future cash flow value of $4.01
Current Discount Checks
For Mercantile Investment Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mercantile Investment Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mercantile Investment Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Mercantile Investment Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mercantile Investment Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:MINX.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-07-31) in GBP £0.26
LSE:MRC Share Price ** LSE (2018-09-10) in GBP £1.84
United States of America Capital Markets Industry PE Ratio Median Figure of 67 Publicly-Listed Capital Markets Companies 21.06x
United States of America Market PE Ratio Median Figure of 2,991 Publicly-Listed Companies 17.97x

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

** Primary Listing of Mercantile Investment Trust.

OTCPK:MINX.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:MRC Share Price ÷ EPS (both in GBP)

= 1.84 ÷ 0.26

6.98x

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

  • Mercantile Investment Trust is good value based on earnings compared to the US Capital Markets industry average.
  • Mercantile Investment Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Mercantile Investment Trust's expected growth come at a high price?
Raw Data
OTCPK:MINX.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 1.93x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Mercantile Investment Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mercantile Investment Trust's assets?
Raw Data
OTCPK:MINX.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-07-31) in GBP £2.52
LSE:MRC Share Price * LSE (2018-09-10) in GBP £1.84
United States of America Capital Markets Industry PB Ratio Median Figure of 126 Publicly-Listed Capital Markets Companies 4.96x
United States of America Market PB Ratio Median Figure of 5,007 Publicly-Listed Companies 1.85x
OTCPK:MINX.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:MRC Share Price ÷ Book Value per Share (both in GBP)

= 1.84 ÷ 2.52

0.73x

* Primary Listing of Mercantile Investment Trust.

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

  • Mercantile Investment Trust is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Mercantile Investment Trust'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. Mercantile Investment Trust has a total score of 4/6, 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.

MINX.F Future Performance

 How is Mercantile Investment Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Mercantile Investment Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
8.3%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mercantile Investment Trust expected to grow at an attractive rate?
  • Unable to compare Mercantile Investment Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Mercantile Investment Trust's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Mercantile Investment Trust's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:MINX.F Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 8.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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
OTCPK:MINX.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:MINX.F Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-07-31 235 41 215
2018-04-30 334 39 314
2018-01-31 433 38 413
2017-10-31 410 38 390
2017-07-31 387 39 368
2017-04-30 244 38 225
2017-01-31 102 37 82
2016-10-31 33 34 12
2016-07-31 -37 32 -57
2016-04-30 99 33 78
2016-01-31 234 35 214
2015-10-31 290 34 270

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Mercantile Investment Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Mercantile Investment Trust is high growth as no revenue estimate data is available.
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
OTCPK:MINX.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Mercantile Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MINX.F Past Financials Data
Date (Data in GBP Millions) EPS *
2018-07-31 0.26
2018-04-30 0.38
2018-01-31 0.49
2017-10-31 0.46
2017-07-31 0.42
2017-04-30 0.25
2017-01-31 0.09
2016-10-31 0.01
2016-07-31 -0.06
2016-04-30 0.08
2016-01-31 0.22
2015-10-31 0.28

*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 Mercantile Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Mercantile Investment Trust'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.
Mercantile Investment Trust has a total score of 0/6, 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.

MINX.F Past Performance

  How has Mercantile Investment Trust 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 Mercantile Investment Trust'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.
  • Mercantile Investment Trust's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Mercantile Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Mercantile Investment Trust's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Mercantile Investment Trust'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 Mercantile Investment Trust Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MINX.F Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-07-31 234.66 214.64 8.96
2018-04-30 333.88 313.90 8.83
2018-01-31 433.11 413.16 8.70
2017-10-31 410.11 390.47 8.51
2017-07-31 387.12 367.78 8.33
2017-04-30 244.35 224.72 8.48
2017-01-31 101.59 81.66 8.63
2016-10-31 32.53 12.21 8.85
2016-07-31 -36.53 -57.23 9.07
2016-04-30 98.80 78.29 9.01
2016-01-31 234.12 213.82 8.96
2015-10-31 290.39 270.37 8.66
2015-07-31 346.65 326.91 8.37
2015-04-30 219.31 199.66 8.33
2015-01-31 91.96 72.40 8.29
2014-10-31 116.05 96.43 8.27
2014-07-31 140.14 120.45 8.26
2014-04-30 264.72 245.47 7.87
2014-01-31 389.30 370.50 7.48
2013-10-31 433.16 414.95 7.04
2013-07-31 477.02 459.41 6.60
2013-04-30 391.75 374.39 6.28
2013-01-31 306.48 289.37 5.96
2012-10-31 162.61 145.61 5.79
2012-07-31 18.74 1.86 5.61
2012-04-30 -26.19 -43.25 5.75
2012-01-31 -71.12 -88.36 5.89

*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.
  • Mercantile Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mercantile Investment Trust used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Mercantile Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mercantile Investment Trust'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.
Mercantile Investment Trust has a total score of 1/6, 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.

MINX.F Health

 How is Mercantile Investment Trust'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 Mercantile Investment Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mercantile Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mercantile Investment Trust's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mercantile Investment Trust'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 1x 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 Mercantile Investment Trust Company Filings, last reported 4 months ago.

OTCPK:MINX.F Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-07-31 2,015.23 177.72 160.55
2018-04-30 2,015.23 177.72 160.55
2018-01-31 2,019.59 177.67 106.53
2017-10-31 2,019.59 177.67 106.53
2017-07-31 1,913.89 177.62 125.60
2017-04-30 1,913.89 177.62 125.60
2017-01-31 1,744.14 177.58 138.06
2016-10-31 1,744.14 177.58 138.06
2016-07-31 1,775.63 177.53 329.60
2016-04-30 1,775.63 177.53 329.60
2016-01-31 1,853.73 177.48 262.64
2015-10-31 1,853.73 177.48 262.64
2015-07-31 1,913.18 177.43 229.60
2015-04-30 1,913.18 177.43 229.60
2015-01-31 1,713.10 177.38 193.17
2014-10-31 1,713.10 177.38 193.17
2014-07-31 1,658.87 177.34 220.59
2014-04-30 1,658.87 177.34 220.59
2014-01-31 1,687.91 177.29 27.21
2013-10-31 1,687.91 177.29 27.21
2013-07-31 1,577.71 177.24 5.32
2013-04-30 1,577.71 177.24 5.32
2013-01-31 1,361.43 177.19 139.88
2012-10-31 1,361.43 177.19 139.88
2012-07-31 1,160.24 177.14 125.46
2012-04-30 1,160.24 177.14 125.46
2012-01-31 1,110.36 177.09 18.45
  • Mercantile Investment Trust's level of debt (8.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (11.2% vs 8.8% today).
  • Debt is well covered by operating cash flow (23%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.6x coverage).
X
Financial health checks
We assess Mercantile Investment Trust'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. Mercantile Investment Trust has a total score of 6/6, 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.

MINX.F Dividends

 What is Mercantile Investment Trust'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
2.89%
Current annual income from Mercantile Investment Trust dividends.
If you bought $2,000 of Mercantile Investment Trust shares you are expected to receive $58 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?
  • Mercantile Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.37%).
  • Mercantile Investment Trust's dividend is below the markets top 25% of dividend payers in United States of America (3.53%).
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
OTCPK:MINX.F 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 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1981 Stocks 2.4%
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 3.5%

Industry and Market average data is calculated daily.

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

OTCPK:MINX.F Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-03-29 0.053 2.527
2017-12-06 0.051 2.374
2017-04-07 0.046 2.310
2017-04-06 0.046 2.499
2017-03-29 0.046 2.523
2016-04-06 0.043 2.562
2015-03-27 0.041 2.439
2014-04-07 0.040 2.717
2014-04-02 0.040 2.524
2013-05-21 0.036 2.486
2013-03-21 0.036 2.827
2012-03-27 0.036 3.432
2012-01-31 0.024 2.370
2011-03-31 0.036 3.738
2011-03-30 0.036 3.243
2010-03-31 0.036 3.633
2009-04-01 0.036 4.310
2009-03-24 0.036 5.900
2008-12-08 0.024 4.078

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Mercantile Investment Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Mercantile Investment Trust'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 Mercantile Investment Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mercantile Investment Trust 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.

MINX.F Management

 What is the CEO of Mercantile Investment Trust'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.
  • Mercantile Investment Trust has no CEO, or we have no data on them.
Management Team

Martin Hudson

TITLE
Portfolio Manager

Guy Anderson

TITLE
Portfolio Manager

Anthony Lynch

TITLE
Portfolio Manager
Board of Directors Tenure

Average tenure and age of the Mercantile Investment Trust board of directors in years:

9.6
Average Tenure
57
Average Age
  • The tenure for the Mercantile Investment Trust board of directors is about average.
Board of Directors

Hamish Melville

TITLE
Chairman
COMPENSATION
£60K
AGE
74
TENURE
15.3 yrs

Ian S. Russell

TITLE
Non-Executive Director
COMPENSATION
£40K
AGE
66
TENURE
11.9 yrs

Alasdair/Sandy Nairn

TITLE
Director
COMPENSATION
£33K
AGE
56
TENURE
15 yrs

Helen James

TITLE
Director
COMPENSATION
£33K
AGE
48
TENURE
7.3 yrs

John Tigue

TITLE
Director
COMPENSATION
£33K
AGE
58
TENURE
6.8 yrs

Harry Michael Morley

TITLE
Non-Executive Director
AGE
53
TENURE
4.6 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 ($) Value ($)
X
Management checks
We assess Mercantile Investment Trust'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. Mercantile Investment Trust 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.

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MINX.F Company Info

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Description

The Mercantile Investment Trust plc is an open ended equity mutual fund launched and managed by JPMorgan Funds Limited. The fund is co-managed by JPMorgan Asset Management (UK) Limited. It invests in the public equity markets of the United Kingdoms. The fund spreads its investments across diversified sectors. It invests in the stocks of mid and small cap companies. The fund benchmarks the performance of its portfolio against the FTSE All Share (ex FTSE 100, ex Inv Companies) Index. It was formerly known as JP Morgan Fleming Mercantile Investment Trust plc. The Mercantile Investment Trust plc was formed in December 1884 and is domiciled in the United Kingdoms.

Details
Name: The Mercantile Investment Trust plc
MINX.F
Exchange: OTCPK
Founded: 1884
£1,853,670,855
792,692,181
Website: http://am.jpmorgan.co.uk/investment-trusts/trusts/mercantile-it.aspx?isin=GB0005794036
Address: The Mercantile Investment Trust plc
20 Finsbury Street,
Finsbury Dials,
London,
Greater London, EC2Y 9AQ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MRC Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK MINX.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
BATS-CHIXE MRCL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
LSE MRC Ord Gbp0.025 London Stock Exchange GB GBP 25. May 2018
Number of employees
Current staff
Staff numbers
0
Mercantile Investment Trust employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/05 13:23
End of day share price update: 2018/09/10 00:00
Last earnings filing: 2018/10/16
Last earnings reported: 2018/07/31
Last annual earnings reported: 2018/01/31


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.