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Meredith

NYSE:MDP
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MDP
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Media
Company description

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. The last earnings update was 42 days ago. More info.


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MDP Share Price and Events
7 Day Returns
0.3%
NYSE:MDP
1%
US Media
1.4%
US Market
1 Year Returns
1.7%
NYSE:MDP
18.1%
US Media
4.9%
US Market
MDP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Meredith (MDP) 0.3% -2.9% -5.4% 1.7% 6.3% 7.4%
US Media 1% 3% 8% 18.1% 32.1% 24.3%
US Market 1.4% 3.8% 3.5% 4.9% 44.8% 40.1%
1 Year Return vs Industry and Market
  • MDP underperformed the Media industry which returned 18.1% over the past year.
  • MDP underperformed the Market in United States of America which returned 4.9% over the past year.
Price Volatility
MDP
Industry
5yr Volatility vs Market

MDP Value

 Is Meredith 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 Meredith 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 Meredith.

NYSE:MDP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
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:MDP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.775 (1 + (1- 21%) (100.89%))
1.263
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.263 * 5.96%)
10.26%

Discounted Cash Flow Calculation for NYSE:MDP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Meredith is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MDP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.26%)
2019 467.54 Analyst x2 424.04
2020 441.95 Analyst x3 363.53
2021 460.57 Analyst x2 343.59
2022 477.00 Analyst x1 322.74
2023 559.00 Analyst x1 343.02
2024 593.28 Est @ 6.13% 330.18
2025 623.60 Est @ 5.11% 314.76
2026 651.02 Est @ 4.4% 298.03
2027 676.39 Est @ 3.9% 280.83
2028 700.38 Est @ 3.55% 263.73
Present value of next 10 years cash flows $3,284.45
NYSE:MDP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $700.38 × (1 + 2.73%) ÷ (10.26% – 2.73%)
$9,555.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,555.29 ÷ (1 + 10.26%)10
$3,598.07
NYSE:MDP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,284.45 + $3,598.07
$6,882.52
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,882.52 / 45.17
$152.37
NYSE:MDP Discount to Share Price
Calculation Result
Value per share (USD) From above. $152.37
Current discount Discount to share price of $53.14
= -1 x ($53.14 - $152.37) / $152.37
65.1%

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

Current Discount
Amount off the current price Meredith is available for.
Intrinsic value
>50%
Share price is $53.14 vs Future cash flow value of $152.37
Current Discount Checks
For Meredith to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Meredith's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Meredith's share price is below the future cash flow value, and 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 Meredith's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Meredith's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MDP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.54
NYSE:MDP Share Price ** NYSE (2019-06-25) in USD $53.14
United States of America Media Industry PE Ratio Median Figure of 42 Publicly-Listed Media Companies 16.41x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.73x

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

** Primary Listing of Meredith.

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

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

= 53.14 ÷ 1.54

34.56x

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

  • Meredith is overvalued based on earnings compared to the US Media industry average.
  • Meredith is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Meredith's expected growth come at a high price?
Raw Data
NYSE:MDP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 34.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
60.4%per year
United States of America Media Industry PEG Ratio Median Figure of 32 Publicly-Listed Media Companies 1.08x
United States of America Market PEG Ratio Median Figure of 2,133 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 34.56x ÷ 60.4%

0.57x

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

  • Meredith is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Meredith's assets?
Raw Data
NYSE:MDP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $22.96
NYSE:MDP Share Price * NYSE (2019-06-25) in USD $53.14
United States of America Media Industry PB Ratio Median Figure of 75 Publicly-Listed Media Companies 1.76x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.79x
NYSE:MDP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 53.14 ÷ 22.96

2.31x

* Primary Listing of Meredith.

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

  • Meredith is overvalued based on assets compared to the US Media industry average.
X
Value checks
We assess Meredith'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Meredith 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.

MDP Future Performance

 How is Meredith expected to perform in the next 1 to 3 years based on estimates from 5 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
60.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Meredith expected to grow at an attractive rate?
  • Meredith's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Meredith's earnings growth is expected to exceed the United States of America market average.
  • Meredith's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MDP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MDP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 60.4%
NYSE:MDP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 0%
United States of America Media Industry Earnings Growth Rate Market Cap Weighted Average 14.4%
United States of America Media Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
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
NYSE:MDP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MDP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 3,160 609 2
2022-06-30 3,054 525 3
2021-06-30 3,139 559 3
2020-06-30 3,043 487 145 5
2019-06-30 3,127 359 85 4
NYSE:MDP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 3,167 209 70
2018-12-31 3,075 111 -49
2018-09-30 2,611 65 44
2018-06-30 2,247 151 81
2018-03-31 1,907 136 127
2017-12-31 1,681 202 276
2017-09-30 1,706 235 188
2017-06-30 1,713 219 189
2017-03-31 1,704 231 55
2016-12-31 1,701 296 96
2016-09-30 1,665 259 57
2016-06-30 1,650 227 34

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Meredith's earnings are expected to grow significantly at over 20% yearly.
  • Meredith's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:MDP 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 5 Analyst Estimates (S&P Global) See Below

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

NYSE:MDP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30
2020-06-30 3.19 3.19 3.19 1.00
2019-06-30 1.85 1.85 1.85 1.00
NYSE:MDP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.54
2018-12-31 -1.08
2018-09-30 0.98
2018-06-30 1.80
2018-03-31 2.84
2017-12-31 6.17
2017-09-30 4.22
2017-06-30 4.24
2017-03-31 1.24
2016-12-31 2.16
2016-09-30 1.28
2016-06-30 0.76

*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 Meredith will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Meredith'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.
Meredith has a total score of 3/6, 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.

MDP Past Performance

  How has Meredith 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 Meredith's growth in the last year to its industry (Media).
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.
  • Meredith's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Meredith's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Meredith's 1-year earnings growth is negative, it can't be compared to the US Media industry average.
Earnings and Revenue History
Meredith'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 Meredith Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MDP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 3,167.00 69.50 1,317.30
2018-12-31 3,074.60 -48.60 1,308.10
2018-09-30 2,611.30 44.00 1,130.60
2018-06-30 2,247.40 81.00 968.50
2018-03-31 1,906.90 127.10 821.90
2017-12-31 1,681.28 275.92 714.20
2017-09-30 1,706.22 188.33 728.52
2017-06-30 1,713.30 188.90 732.60
2017-03-31 1,703.68 55.09 746.57
2016-12-31 1,701.07 96.17 743.16
2016-09-30 1,664.84 56.88 729.28
2016-06-30 1,649.60 33.90 723.50
2016-03-31 1,639.76 167.03 702.32
2015-12-31 1,615.17 111.38 692.87
2015-09-30 1,607.66 118.46 688.71
2015-06-30 1,594.18 136.79 678.92
2015-03-31 1,559.06 134.66 667.98
2014-12-31 1,528.30 127.89 655.88
2014-09-30 1,483.44 118.87 642.95
2014-06-30 1,468.71 113.54 638.04
2014-03-31 1,464.89 106.90 649.50
2013-12-31 1,467.09 117.83 656.54
2013-09-30 1,473.64 122.84 649.24
2013-06-30 1,471.34 123.65 649.00
2013-03-31 1,458.92 119.83 635.94
2012-12-31 1,434.81 111.58 613.63
2012-09-30 1,402.94 107.60 597.52
2012-06-30 1,376.69 104.37 591.14

*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.
  • Meredith has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Meredith used its assets less efficiently than the US Media industry average last year based on Return on Assets.
  • Meredith's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Meredith'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 Media 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.
Meredith 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.

MDP Health

 How is Meredith'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 Meredith's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Meredith is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Meredith's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Meredith'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 not covered by short term assets, assets are 0.6x 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 Meredith Company Filings, last reported 2 months ago.

NYSE:MDP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,573.70 2,459.40 52.50
2018-12-31 1,587.00 2,507.40 77.10
2018-09-30 1,605.90 2,937.40 144.00
2018-06-30 1,620.10 3,135.60 437.60
2018-03-31 1,654.80 3,138.20 372.20
2017-12-31 1,146.84 697.18 35.46
2017-09-30 1,007.76 705.56 27.81
2017-06-30 996.00 698.80 22.30
2017-03-31 972.70 632.02 27.36
2016-12-31 955.89 675.61 44.49
2016-09-30 904.44 702.26 32.13
2016-06-30 889.04 700.79 24.97
2016-03-31 1,017.39 709.54 17.25
2015-12-31 964.00 801.10 27.86
2015-09-30 946.39 825.15 29.94
2015-06-30 951.85 798.30 22.83
2015-03-31 929.74 829.33 19.66
2014-12-31 923.11 861.14 18.12
2014-09-30 901.20 721.88 30.34
2014-06-30 891.65 715.00 36.59
2014-03-31 868.06 525.00 22.12
2013-12-31 871.70 340.00 25.88
2013-09-30 857.78 370.00 16.37
2013-06-30 854.30 350.00 27.67
2013-03-31 831.68 355.00 24.49
2012-12-31 817.35 365.00 24.71
2012-09-30 800.72 405.00 27.57
2012-06-30 797.45 380.00 25.82
  • Meredith's level of debt (156.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (60.7% vs 156.3% today).
  • Debt is not well covered by operating cash flow (8.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Meredith'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. Meredith has a total score of 1/6, 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.

MDP Dividends

 What is Meredith'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
4.33%
Current annual income from Meredith dividends. Estimated to be 4.33% next year.
If you bought $2,000 of Meredith shares you are expected to receive $87 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?
  • Meredith's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Meredith's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
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:MDP 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 5 Analyst Estimates (S&P Global) See Below
United States of America Media Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 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 3.7%

Industry and Market average data is calculated daily.

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

NYSE:MDP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-06-30
2022-06-30
2021-06-30
2020-06-30 2.36 1.00
2019-06-30 2.24 1.00
NYSE:MDP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 2.300 4.261
2019-02-04 2.300 4.029
2018-11-14 2.180 4.018
2018-08-08 2.180 4.130
2018-05-09 2.180 4.234
2018-01-29 2.180 3.986
2017-11-08 2.080 3.196
2017-08-09 2.080 3.828
2017-05-10 2.080 3.633
2017-01-30 2.080 3.337
2016-11-10 1.980 3.495
2016-08-10 1.980 3.923
2016-05-11 1.980 3.808
2016-02-02 1.980 4.348
2015-11-12 1.830 4.293
2015-08-12 1.830 4.022
2015-05-13 1.830 3.584
2015-02-02 1.830 3.394
2014-11-12 1.730 3.300
2014-08-19 1.730 3.718
2014-05-08 1.730 3.760
2014-02-03 1.730 3.812
2013-11-06 1.630 3.274
2013-08-15 1.630 3.446
2013-05-10 1.630 3.609
2013-02-04 1.630 4.212
2012-11-08 1.530 4.600
2012-08-08 1.530 4.458
2012-05-10 1.530 4.928
2012-01-30 1.530 4.801
2011-10-25 1.530 5.151
2011-08-11 1.020 4.268
2011-05-13 1.020 3.415
2011-01-31 1.020 2.982
2010-11-04 0.920 2.649
2010-08-12 0.920 2.825
2010-05-13 0.920 2.807
2010-02-12 0.920 2.700
2009-11-05 0.900 2.987
2009-08-12 0.900 3.115

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 Meredith's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x 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 Meredith'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 Meredith afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Meredith has a total score of 4/6, see the detailed checks below.


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

MDP Management

 What is the CEO of Meredith'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
Tom Harty
COMPENSATION $7,001,400
AGE 55
TENURE AS CEO 1.3 years
CEO Bio

Mr. Thomas H. Harty, also known as Tom, has been the Chief Executive Officer of Meredith Corporation since February 1, 2018 and as its President since August 11, 2016. Mr. Harty served as Chief Operating Officer of Meredith Corporation from August 11, 2016 to February 1, 2018. Mr. Harty served as Publisher Director at The Alliance for Audited Media (alternate name Audit Bureau of Circulations, Inc.) since October 20, 2016 until 2018 and served as its Magazine Director since August 18, 2016 until October 20, 2016. He served as the President of National Media Group at Meredith Corporation since August 2010 until August 2016 and served as its Chief Revenue Officer of Publishing Group since June 2008. Before joining Meredith in 2004, Mr. Harty served as Senior Vice President and General Manager at The Golf Digest Companies. He served as the President of Consumer Magazines at Meredith from 2009 to 2010 and Vice President of Magazine Group from 2004 to 2009. He has played a key leadership role in the development and execution of Meredith's Vision 2013 strategic initiative. Additionally, under Mr. Harty's leadership Meredith has increased its share of magazine industry advertising revenues for five consecutive years to an all-time high of 12.3 percent. Immediately prior to joining Meredith, he served as a Senior Vice President for The Golf Digest Companies, a division of Advance Magazines. His broad publishing experience includes senior leadership positions with several of the industry's largest publications including TV Guide and Reader's Digest. He has been a Director of Meredith Corporation since August 9, 2017. He has been a Director of The Alliance for Audited Media since October 13, 2016 and previously served as its Director from August 18, 2016 to October 20, 2016. Mr. Harty earned an M.B.A. from Iona College and a B.A. from Castleton College.

CEO Compensation
  • Tom's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Tom'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 Meredith management team in years:

5.4
Average Tenure
56
Average Age
  • The average tenure for the Meredith management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tom Harty

TITLE
President
COMPENSATION
$7M
AGE
55
TENURE
1.3 yrs

Joe Ceryanec

TITLE
Chief Financial Officer
COMPENSATION
$4M
AGE
57
TENURE
10.7 yrs

John Zieser

TITLE
Chief Development Officer
COMPENSATION
$5M
AGE
59
TENURE
20.4 yrs

Mike Lovell

TITLE
Director of Investor Relations
TENURE
5.4 yrs

Art Slusark

TITLE
Chief Communications Officer

Michael Brownstein

TITLE
Chief Revenue Officer and Executive VP of Corporate Sales & Marketing

Alysia Borsa

TITLE
Chief Marketing & Data Officer
TENURE
1.8 yrs

Dina Nathanson

TITLE
Senior Vice President of Human Resources
TENURE
1.6 yrs

Matt Petersen

TITLE
Senior Vice President of The Foundry & Strategic Content
AGE
53

Doug Lowe

TITLE
Executive Vice President of Broadcast Group
TENURE
19.4 yrs
Board of Directors Tenure

Average tenure and age of the Meredith board of directors in years:

8
Average Tenure
64
Average Age
  • The tenure for the Meredith board of directors is about average.
Board of Directors

Steve Lacy

TITLE
Non Executive Chairman
COMPENSATION
$14M
AGE
64
TENURE
9.3 yrs

Tom Harty

TITLE
President
COMPENSATION
$7M
AGE
55
TENURE
1.8 yrs

Mell Frazier

TITLE
Vice Chairman of the Board
COMPENSATION
$239K
AGE
62
TENURE
9.3 yrs

Liz Tallett

TITLE
Director
COMPENSATION
$237K
AGE
69
TENURE
10.8 yrs

Don Berg

TITLE
Director
COMPENSATION
$225K
AGE
63
TENURE
6.6 yrs

Frederick Henry

TITLE
Director
COMPENSATION
$225K
AGE
72
TENURE
50.4 yrs

Phil Marineau

TITLE
Director
COMPENSATION
$225K
AGE
71
TENURE
21.4 yrs

Don Baer

TITLE
Director
COMPENSATION
$230K
AGE
64
TENURE
4.6 yrs

Beth Kaplan

TITLE
Director
COMPENSATION
$217K
AGE
60
TENURE
2.4 yrs

Paula Kerger

TITLE
Director
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Feb 19 Sell John Zieser Individual 22. Feb 19 22. Feb 19 -2,550 $56.96 $-145,246
16. Nov 18 Sell Frederick Henry Individual 15. Nov 18 15. Nov 18 -1,057 $57.45 $-60,726
16. Nov 18 Sell John Zieser Individual 15. Nov 18 15. Nov 18 -3,716 $58.54 $-217,552
14. Nov 18 Sell Joseph Ceryanec Individual 12. Nov 18 14. Nov 18 -6,884 $58.10 $-399,364
X
Management checks
We assess Meredith'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. Meredith 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.

MDP News

Simply Wall St News

Do Investors Have Good Reason To Be Wary Of Meredith Corporation's (NYSE:MDP) 3.8% Dividend Yield?

Investors are often drawn to a company for its dividend. … Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … With Meredith yielding 3.8% and having paid a dividend for over 10 years, many investors likely find the company quite interesting.

Simply Wall St -

How Meredith Corporation (NYSE:MDP) Can Impact Your Portfolio Volatility

Volatility is considered to be a measure of risk in modern finance theory. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Have Insiders Been Selling Meredith Corporation (NYSE:MDP) Shares?

So what is clear is that an insider saw fit to sell at around the current price of US$54.22. … We usually pause to reflect on the potential that a stock has a high valuation, if insiders have been selling at around the current price. … It's not too encouraging to see that insiders have sold at below the current price

Simply Wall St -

What Does Meredith Corporation's (NYSE:MDP) Share Price Indicate?

saw significant share price movement during recent months on the NYSE, rising to highs of $60.38 and falling to the lows of $49.6. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at Meredith’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Can Meredith Corporation (NYSE:MDP) Improve Its Returns?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.060 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Only 2 Days Left To Cash In On Meredith Corporation (NYSE:MDP) Dividend, Is It Worth Buying?

Investors who want to cash in on Meredith Corporation's (NYSE:MDP) upcoming dividend of US$0.55 per share have only 2 days left to buy the shares before its ex-dividend date, 30 August 2018, in time for dividends payable on the 14 September 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Meredith's latest financial data to analyse its dividend characteristics. … consistent, reliable and competitive dividend over a long period of time, and is expected to continue to pay in the same manner many years to come

Simply Wall St -

Is It Time To Buy Meredith Corporation (NYSE:MDP)?

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $55.5 at one point, and dropping to the lows of $47.85. … A question to answer is whether Meredith's current trading price of $52.45 reflective of the actual value of the? … Let’s take a look at Meredith’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Be Happy With Meredith Corporation's (NYSE:MDP) Performance Lately?

After looking at Meredith Corporation's (NYSE:MDP) latest earnings update (31 March 2018), I found it helpful to revisit the company's performance in the past couple of years and compare this against the latest numbers. … As a long-term investor I tend to focus on earnings trend, rather than a single number at one point in time. … Did MDP beat its long-term earnings growth trend and its industry.

Simply Wall St -

Does Meredith Corporation (NYSE:MDP)'s Capital Return Make The Cut?

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … To understand Meredith’s capital returns we will look at a useful metric called return on capital employed. … This will tell us if the company is growing your capital and placing you in good stead to sell your shares at a profit

Simply Wall St -

What does Meredith Corporation's (NYSE:MDP) Balance Sheet Tell Us About Its Future?

Today we will look at MDP’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … Check out our latest analysis for Meredith

Simply Wall St -

MDP Company Info

Description

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services. It publishes media in entertainment, food, lifestyle, parenting, and home categories, such as People, Better Homes & Gardens, InStyle, Allrecipes, Real Simple, Shape, Southern Living, Martha Stewart Living, and other brands, as well as 275 special interest publications under approximately 68 brands. This segment operates approximately 60 Websites, 60 mobile-optimized Websites, and 14 applications. It is also involved in the third-party marketing, consumer database, and other related operations, as well as provision of magazine advertising and circulation, digital and customer relationship marketing, other custom publishing project, and ancillary products and services. In addition, this segment operates The Foundry, a creative content studio, which develops content marketing programs across various platforms comprising native advertising that enable clients to engage new consumers and build long-term relationships with existing customers for a range of industries. The Local Media segment operates approximately 17 television stations that include 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations. It also includes 12 Websites, 12 mobile-optimized Websites, and approximately 30 applications focused on news, sports, and weather-related information. In addition, this segment sells geographic and demographic-targeted digital and print advertising programs to third parties. The company was founded in 1902 and is headquartered in Des Moines, Iowa.

Details
Name: Meredith Corporation
MDP
Exchange: NYSE
Founded: 1902
$2,437,793,366
45,168,787
Website: http://www.meredith.com
Address: Meredith Corporation
1716 Locust Street,
Des Moines,
Iowa, 50309,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MDP Common Shares New York Stock Exchange US USD 02. Jan 1968
DB MEZ Common Shares Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0K0J Common Shares London Stock Exchange GB USD 02. Jan 1968
OTCPK MDPE.B Class B Shares Pink Sheets LLC US USD 02. Oct 2003
Number of employees
Current staff
Staff numbers
7,708
Meredith employees.
Industry
Publishing
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/25 23:43
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


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.