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Rathbone Brothers

OTCPK:RTBB.F
Snowflake Description

Excellent balance sheet established dividend payer.

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

Rathbone Brothers Plc, through its subsidiaries, provides personalized investment and wealth management services for private clients, charities, and trustees in the United Kingdom and Jersey. The last earnings update was 63 days ago. More info.


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RTBB.F Share Price and Events
7 Day Returns
0%
OTCPK:RTBB.F
-0.2%
US Capital Markets
-0.1%
US Market
1 Year Returns
-
OTCPK:RTBB.F
-6.8%
US Capital Markets
7.6%
US Market
RTBB.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Rathbone Brothers (RTBB.F) 0% -3% - - - -
US Capital Markets -0.2% 7.5% 4.2% -6.8% 53.7% 71.5%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • No trading data on RTBB.F.
  • No trading data on RTBB.F.
Price Volatility
RTBB.F
Industry
5yr Volatility vs Market

Value

 Is Rathbone Brothers 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 Rathbone Brothers 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 Rathbone Brothers.

OTCPK:RTBB.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
= £9.13 * 13%
£1.19
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. £9.13
Discount Rate (Cost of Equity) See below 8.2%
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 OTCPK:RTBB.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.727 (1 + (1- 19%) (1.59%))
0.823
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.823 * 6.65%)
8.2%

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

The calculations below outline how an intrinsic value for Rathbone Brothers 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:RTBB.F Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13% – 8.2%) * £9.13)
£0.44
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.44 / (8.2% - 2.73%)
£7.97
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £9.13 + £7.97
£17.1
OTCPK:RTBB.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:RTBB.F represents 1.24377x of LSE:RAT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.24377x
Value per Share
(Listing Adjusted, USD)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 17.10 x 1.24377
$21.27
Value per share (USD) From above. $21.27
Current discount Discount to share price of $29.73
= -1 x ($29.73 - $21.27) / $21.27
-39.7%

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

  • The current share price of Rathbone Brothers 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 Rathbone Brothers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Rathbone Brothers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:RTBB.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in GBP £0.89
LSE:RAT Share Price ** LSE (2019-03-27) in GBP £23.9
United States of America Capital Markets Industry PE Ratio Median Figure of 87 Publicly-Listed Capital Markets Companies 30.49x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

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

** Primary Listing of Rathbone Brothers.

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

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

= 23.9 ÷ 0.89

26.94x

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

  • Rathbone Brothers is good value based on earnings compared to the US Capital Markets industry average.
  • Rathbone Brothers is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Rathbone Brothers's expected growth come at a high price?
Raw Data
OTCPK:RTBB.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 26.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
15.3%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.66x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

OTCPK:RTBB.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 26.94x ÷ 15.3%

1.76x

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

  • Rathbone Brothers is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Rathbone Brothers's assets?
Raw Data
OTCPK:RTBB.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in GBP £8.68
LSE:RAT Share Price * LSE (2019-03-27) in GBP £23.9
United States of America Capital Markets Industry PB Ratio Median Figure of 169 Publicly-Listed Capital Markets Companies 7.74x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
OTCPK:RTBB.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 23.9 ÷ 8.68

2.75x

* Primary Listing of Rathbone Brothers.

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

  • Rathbone Brothers is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Rathbone Brothers'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. Rathbone Brothers has a total score of 2/6, 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.

Future Performance

 How is Rathbone Brothers expected to perform in the next 1 to 3 years based on estimates from 6 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
15.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Rathbone Brothers expected to grow at an attractive rate?
  • Rathbone Brothers's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Rathbone Brothers's earnings growth is expected to exceed the United States of America market average.
  • Rathbone Brothers's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:RTBB.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:RTBB.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 15.3%
OTCPK:RTBB.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 3.1%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
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
OTCPK:RTBB.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:RTBB.F Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 369 268 71 4
2020-12-31 356 335 61 6
2019-12-31 333 305 47 5
OTCPK:RTBB.F Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-12-31 338 111 46
2018-09-30 330 26 53
2018-06-30 321 -59 61
2018-03-31 315 146 54
2017-12-31 309 352 47
2017-09-30 301 417 44
2017-06-30 293 483 42
2017-03-31 282 525 40
2016-12-31 270 567 38
2016-09-30 259 486 38
2016-06-30 247 406 38
2016-03-31 243 291 42

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Rathbone Brothers's earnings are expected to grow by 15.3% yearly, however this is not considered high growth (20% yearly).
  • Rathbone Brothers's revenue is expected to grow by 3.1% 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
OTCPK:RTBB.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Rathbone Brothers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RTBB.F Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.27 1.27 1.27 2.00
2020-12-31 1.08 1.23 0.91 4.00
2019-12-31 0.79 1.00 0.61 3.00
OTCPK:RTBB.F Past Financials Data
Date (Data in GBP Millions) EPS *
2018-12-31 0.89
2018-09-30 1.04
2018-06-30 1.19
2018-03-31 1.06
2017-12-31 0.93
2017-09-30 0.89
2017-06-30 0.85
2017-03-31 0.82
2016-12-31 0.79
2016-09-30 0.79
2016-06-30 0.80
2016-03-31 0.89

*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.
  • Rathbone Brothers is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Rathbone Brothers'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.
Rathbone Brothers has a total score of 2/6, 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.

Past Performance

  How has Rathbone Brothers 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 Rathbone Brothers'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.
  • Rathbone Brothers's year on year earnings growth rate has been positive over the past 5 years.
  • Rathbone Brothers's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Rathbone Brothers's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Rathbone Brothers'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 Rathbone Brothers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:RTBB.F Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 338.39 46.17 15.84
2018-09-30 329.65 53.38 13.97
2018-06-30 320.91 60.60 12.09
2018-03-31 314.76 53.71 12.09
2017-12-31 308.61 46.83 12.09
2017-09-30 300.97 44.46 11.94
2017-06-30 293.34 42.08 11.78
2017-03-31 281.76 40.12 11.78
2016-12-31 270.19 38.16 11.78
2016-09-30 258.65 38.14 11.34
2016-06-30 247.12 38.13 10.90
2016-03-31 242.85 42.25 10.90
2015-12-31 238.57 46.37 10.90
2015-09-30 233.65 41.77 11.22
2015-06-30 228.73 37.17 11.54
2015-03-31 222.45 36.42 11.54
2014-12-31 216.18 35.68 11.54
2014-09-30 208.21 38.31 11.19
2014-06-30 200.24 40.94 10.84
2014-03-31 192.07 37.85 10.84
2013-12-31 183.91 34.75 10.84
2013-09-30 179.30 33.20 10.18
2013-06-30 174.69 31.64 9.53
2013-03-31 170.12 30.31 9.53
2012-12-31 165.56 28.98 9.53
2012-09-30 162.20 28.95 9.75
2012-06-30 158.84 28.91 9.97

*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.
  • Rathbone Brothers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Rathbone Brothers used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Rathbone Brothers's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Rathbone Brothers'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.
Rathbone Brothers has a total score of 2/6, 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.

Health

 How is Rathbone Brothers'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 Rathbone Brothers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Rathbone Brothers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Rathbone Brothers's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Rathbone Brothers'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 128.7x 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 Rathbone Brothers Company Filings, last reported 3 months ago.

OTCPK:RTBB.F Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 464.14 20.30 44.46
2018-09-30 464.14 20.30 44.46
2018-06-30 447.83 23.54
2018-03-31 447.83 23.54
2017-12-31 363.28 21.03 54.78
2017-09-30 363.28 21.03 54.78
2017-06-30 342.44 28.71
2017-03-31 342.44 28.71
2016-12-31 324.81 19.88
2016-09-30 324.81 19.88
2016-06-30 279.74 22.98
2016-03-31 279.74 22.98
2015-12-31 300.19 19.79
2015-09-30 300.19 19.79
2015-06-30 282.39 0.00
2015-03-31 282.39 0.00
2014-12-31 271.27 0.00
2014-09-30 271.27 0.00
2014-06-30 274.96 0.00
2014-03-31 274.96 0.00
2013-12-31 251.00 0.00
2013-09-30 251.00 0.00
2013-06-30 244.97 0.61
2013-03-31 244.97 0.61
2012-12-31 229.49 0.52
2012-09-30 229.49 0.52
2012-06-30 195.84 1.46
  • Rathbone Brothers's level of debt (4.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 4.4% today).
  • Debt is well covered by operating cash flow (547.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.9x coverage).
X
Financial health checks
We assess Rathbone Brothers'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. Rathbone Brothers has a total score of 5/6, 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.

Dividends

 What is Rathbone Brothers'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
2.76%
Current annual income from Rathbone Brothers dividends. Estimated to be 3.03% next year.
If you bought $2,000 of Rathbone Brothers shares you are expected to receive $55 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?
  • Rathbone Brothers's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Rathbone Brothers's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
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:RTBB.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 6 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 2008 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 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:RTBB.F Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.77 4.00
2020-12-31 0.73 7.00
2019-12-31 0.69 7.00
OTCPK:RTBB.F Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-04 0.660 2.822
2018-04-06 0.610 2.540
2017-04-07 0.570 2.216
2016-04-18 0.550 2.828
2016-02-24 0.550 2.551
2015-05-14 0.520 2.373
2014-04-10 0.490 2.422
2014-02-20 0.490 2.735
2013-08-02 0.480 2.995
2013-02-20 0.470 3.086
2012-02-21 0.460 3.578
2012-02-20 0.460 3.587
2011-02-17 0.440 3.955
2011-02-16 0.440 3.579
2010-03-19 0.420 4.599
2010-02-24 0.420 5.035
2009-07-29 0.420 4.950
2009-04-27 0.420 5.081

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Rathbone Brothers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Rathbone Brothers'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 Rathbone Brothers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Rathbone Brothers has a total score of 5/6, see the detailed checks below.


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

Management

 What is the CEO of Rathbone Brothers'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
Philip Howell
COMPENSATION £1,104,000
AGE 63
TENURE AS CEO 5.1 years
CEO Bio

Mr. Philip Luard Howell has been the Group Chief Executive Officer of Rathbone Brothers plc since March 1, 2014 and also has been its Executive Director since December 2013. Previously, Mr. Howell served as Deputy Chief Executive at Rathbone Brothers plc from March 4, 2013 to March 1, 2014. Prior to that, he served as the Chief Executive Officer at Williams de Broe Private Investment Management Limited until 2012. Prior to that, Mr. Howell served as the Head of Williams de Broe Wealth Management Business at Investec Limited since September 2011. Previously, he joined Williams de Broë from Fortis Private Banking, where he served as Regional Chief Executive since 2005. Mr. Howell has been Director of Rathbone Investment Management Ltd since March 2013. Previously, he served as a Member of the Management Board of Fortis Private Banking. Previously, Mr. Howell served as the Managing Director of UK Business at Dryden Wealth Management Limited since January 2005. Prior to Fortis, Mr. Howell served as Director of Strategy and Corporate Development at Barclays Wealth. He was with Barclays for 24 years, which included leadership assignments in Asia and South Africa and subsequently as head of strategy and corporate development, focused on the international and private banking divisions. He continued his involvement in private wealth management. Following an early military career, he spent over 30 years in the investment banking and private banking sectors, undertaking a range of leadership roles as well as gaining considerable general management experience. He has been a Director of Speirs & Jeffrey Ltd. since August 31, 2018. Previously, he served as an Executive Director at Evolution Group plc since June 2010. Mr. Howell is an experienced Board Director, Regional Chief Executive Officer both in the UK and internationally, in Asia and South Africa. He is an Associate of the Chartered Institute of Bankers and has also completed the Advanced Management Program at Harvard Business School.

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

Philip Howell

TITLE
Group CEO & Executive Director
COMPENSATION
£1M
AGE
63
TENURE
5.1 yrs

Jennifer Mathias

TITLE
Group Finance Director & Executive Director

James Butcher

TITLE
Chief Operating Officer
TENURE
7.3 yrs

Adrian Maxwell

TITLE
Investment Director

Shelly Patel

TITLE
Head of Investor Relations

Sophie Boyd-Wallis

TITLE
Head of Internal Communications

Mike Webb

TITLE
Head of Group Marketing & Distribution and Chief Executive of Rathbone Unit Trust Management Limited

Victoria Wellings

TITLE
Head of sales desk

Ruppert Pepper

TITLE
Director of Corporate Development

Andrew Morris

TITLE
Head of Investment Management - Outside London
COMPENSATION
£667K
AGE
53
Board of Directors Tenure

Average tenure and age of the Rathbone Brothers board of directors in years:

4.8
Average Tenure
59.5
Average Age
  • The tenure for the Rathbone Brothers board of directors is about average.
Board of Directors

Mark Nicholls

TITLE
Independent Chairman
COMPENSATION
£160K
AGE
69
TENURE
7.9 yrs

Philip Howell

TITLE
Group CEO & Executive Director
COMPENSATION
£1M
AGE
63
TENURE
5.3 yrs

Jennifer Mathias

TITLE
Group Finance Director & Executive Director

RichardMcCourt McCourt

TITLE
Head of Investment Process and Risk

James Dean

TITLE
Independent Non-Executive Director
COMPENSATION
£60K
AGE
61
TENURE
5.4 yrs

Sarah Gentleman

TITLE
Independent Non-Executive Director
COMPENSATION
£56K
AGE
47
TENURE
4.3 yrs

Terri Duhon

TITLE
Independent Non-Executive Director
AGE
45
TENURE
0.8 yrs

Jim Pettigrew

TITLE
Senior Independent Director
COMPENSATION
£45K
AGE
60
TENURE
1.9 yrs

Paul Stockton

TITLE
Executive Director
COMPENSATION
£718K
AGE
52
TENURE
10.6 yrs

Colin Clark

TITLE
Independent Non-Executive Director
AGE
59
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • Rathbone Brothers insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. Apr 19 Sell James Butcher Individual 15. Apr 19 15. Apr 19 -1,670 $31.39 $-52,418
27. Feb 19 Sell Michael Webb Individual 26. Feb 19 26. Feb 19 -12,058 $29.17 $-351,770
24. Sep 18 Sell Michael Webb Individual 24. Sep 18 24. Sep 18 -4,400 $33.30 $-146,509
X
Management checks
We assess Rathbone Brothers'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. Rathbone Brothers 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.

News

Simply Wall St News

Company Info

Description

Rathbone Brothers Plc, through its subsidiaries, provides personalized investment and wealth management services for private clients, charities, and trustees in the United Kingdom and Jersey. Its services include discretionary investment management, unit trusts, financial planning, banking and loan, and unitized portfolio services, as well as trust, legal, estate, and tax advisory services. The company was founded in 1742 and is headquartered in London, the United Kingdom.

Details
Name: Rathbone Brothers Plc
RTBB.F
Exchange: OTCPK
Founded: 1742
£1,653,292,537
53,491,277
Website: http://www.rathbones.com
Address: Rathbone Brothers Plc
8 Finsbury Circus,
London,
Greater London, EC2M 7AZ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE RAT Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK RTBB.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
BATS-CHIXE RATL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,400
Rathbone Brothers employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 00:18
End of day share price update: 2019/03/27 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/02/20
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.