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Kennedy-Wilson Holdings

NYSE:KW
Snowflake Description

Acceptable track record second-rate dividend payer.

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

Kennedy-Wilson Holdings, Inc. operates as a real estate investment company. The last earnings update was 18 days ago. More info.


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KW Share Price and Events
7 Day Returns
1%
NYSE:KW
-0.9%
US Real Estate
-0.7%
US Market
1 Year Returns
7.7%
NYSE:KW
-15.7%
US Real Estate
3%
US Market
KW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kennedy-Wilson Holdings (KW) 1% -1.4% 0% 7.7% 3.6% -12%
US Real Estate -0.9% -6.6% -8.6% -15.7% 22.9% 4.2%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • KW outperformed the Real Estate industry which returned -15.7% over the past year.
  • KW outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
KW
Industry
5yr Volatility vs Market

KW Value

 Is Kennedy-Wilson Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kennedy-Wilson Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kennedy-Wilson Holdings.

NYSE:KW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
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:KW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.11
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.11 (1 + (1- 21%) (179.48%))
2.129
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

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

The calculations below outline how an intrinsic value for Kennedy-Wilson Holdings 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:KW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 14.65%)
2019 11.07 Est @ -42.32% 9.66
2020 7.88 Est @ -28.81% 6.00
2021 6.36 Est @ -19.35% 4.22
2022 5.55 Est @ -12.72% 3.21
2023 5.10 Est @ -8.09% 2.57
2024 4.85 Est @ -4.84% 2.14
2025 4.73 Est @ -2.57% 1.82
2026 4.68 Est @ -0.98% 1.57
2027 4.69 Est @ 0.13% 1.37
2028 4.73 Est @ 0.91% 1.21
Present value of next 10 years cash flows $33.76
NYSE:KW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $4.73 × (1 + 2.73%) ÷ (14.65% – 2.73%)
$40.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $40.78 ÷ (1 + 14.65%)10
$10.39
NYSE:KW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $33.76 + $10.39
$44.15
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $44.15 / 142.53
$0.31
NYSE:KW Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.31
Current discount Discount to share price of $21.32
= -1 x ($21.32 - $0.31) / $0.31
-6782.5%

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

  • The current share price of Kennedy-Wilson Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kennedy-Wilson Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kennedy-Wilson Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:KW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.04
NYSE:KW Share Price ** NYSE (2019-05-17) in USD $21.32
United States of America Real Estate Industry PE Ratio Median Figure of 26 Publicly-Listed Real Estate Companies 15.37x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

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

** Primary Listing of Kennedy-Wilson Holdings.

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

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

= 21.32 ÷ 1.04

20.51x

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

  • Kennedy-Wilson Holdings is overvalued based on earnings compared to the US Real Estate industry average.
  • Kennedy-Wilson Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Kennedy-Wilson Holdings's expected growth come at a high price?
Raw Data
NYSE:KW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-92.3%per year
United States of America Real Estate Industry PEG Ratio Median Figure of 12 Publicly-Listed Real Estate Companies 0.44x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.51x ÷ -92.3%

-0.22x

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

  • Kennedy-Wilson Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kennedy-Wilson Holdings's assets?
Raw Data
NYSE:KW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.61
NYSE:KW Share Price * NYSE (2019-05-17) in USD $21.32
United States of America Real Estate Industry PB Ratio Median Figure of 52 Publicly-Listed Real Estate Companies 1.44x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:KW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 21.32 ÷ 8.61

2.47x

* Primary Listing of Kennedy-Wilson Holdings.

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

  • Kennedy-Wilson Holdings is overvalued based on assets compared to the US Real Estate industry average.
X
Value checks
We assess Kennedy-Wilson Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Kennedy-Wilson Holdings has a total score of 0/6, 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.

KW Future Performance

 How is Kennedy-Wilson Holdings expected to perform in the next 1 to 3 years based on estimates from 3 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
-92.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kennedy-Wilson Holdings expected to grow at an attractive rate?
  • Kennedy-Wilson Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Kennedy-Wilson Holdings's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Kennedy-Wilson Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:KW Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:KW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -92.3%
NYSE:KW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.9%
United States of America Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 6.9%
United States of America Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
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 7.3%

*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:KW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:KW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 759 -47 3
2019-12-31 643 -58 3
NYSE:KW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 768 19 146
2018-12-31 820 93 149
2018-09-30 803 35 217
2018-06-30 886 65 196
2018-03-31 833 111 96
2017-12-31 827 73 99
2017-09-30 772 154 15
2017-06-30 697 161 21
2017-03-31 720 123 10
2016-12-31 714 103 1
2016-09-30 720 142 15
2016-06-30 690 151 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kennedy-Wilson Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Kennedy-Wilson Holdings's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:KW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Kennedy-Wilson Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 -0.37 -0.27 -0.46 2.00
2019-12-31 -0.65 -0.34 -1.22 3.00
NYSE:KW Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.04
2018-12-31 1.04
2018-09-30 1.52
2018-06-30 1.45
2018-03-31 0.75
2017-12-31 0.83
2017-09-30 0.13
2017-06-30 0.19
2017-03-31 0.09
2016-12-31 0.01
2016-09-30 0.13
2016-06-30 0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Kennedy-Wilson Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Kennedy-Wilson Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kennedy-Wilson Holdings 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.

KW Past Performance

  How has Kennedy-Wilson Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kennedy-Wilson Holdings's growth in the last year to its industry (Real Estate).
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.
  • Kennedy-Wilson Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Kennedy-Wilson Holdings's 1-year earnings growth is less than its 5-year average (52% vs 53.4%)
  • Kennedy-Wilson Holdings's earnings growth has exceeded the US Real Estate industry average in the past year (52% vs -15.8%).
Earnings and Revenue History
Kennedy-Wilson Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kennedy-Wilson Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 768.30 146.40 214.80
2018-12-31 819.70 149.10 219.60
2018-09-30 803.20 217.30 234.60
2018-06-30 886.20 196.30 230.80
2018-03-31 833.40 96.30 227.70
2017-12-31 827.00 99.40 219.40
2017-09-30 772.30 14.60 215.20
2017-06-30 696.70 20.90 221.70
2017-03-31 719.80 9.50 218.80
2016-12-31 714.40 1.10 231.90
2016-09-30 720.40 14.60 222.80
2016-06-30 689.50 31.70 215.30
2016-03-31 662.00 64.40 218.70
2015-12-31 619.60 68.20 198.60
2015-09-30 604.80 11.10 184.70
2015-06-30 555.50 -5.90 178.10
2015-03-31 520.80 -2.00 162.90
2014-12-31 426.20 12.40 155.90
2014-09-30 344.50 36.80 138.80
2014-06-30 265.40 35.40 126.90
2014-03-31 193.80 1.60 111.00
2013-12-31 133.30 -15.40 101.30
2013-09-30 143.05 -1.36 101.47
2013-06-30 113.44 -3.50 91.15
2013-03-31 81.45 -7.26 81.63
2012-12-31 94.80 -4.40 75.30
2012-09-30 87.25 -5.00 66.07
2012-06-30 82.36 -5.63 61.49

*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.
  • Kennedy-Wilson Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kennedy-Wilson Holdings used its assets more efficiently than the US Real Estate industry average last year based on Return on Assets.
  • Kennedy-Wilson Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kennedy-Wilson Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate 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.
Kennedy-Wilson Holdings has a total score of 3/6, 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.

KW Health

 How is Kennedy-Wilson Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kennedy-Wilson Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kennedy-Wilson Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kennedy-Wilson Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Kennedy-Wilson Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x 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 Kennedy-Wilson Holdings Company Filings, last reported 1 month ago.

NYSE:KW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,302.20 5,454.10 442.90
2018-12-31 1,431.20 5,412.80 488.00
2018-09-30 1,441.80 5,405.30 419.40
2018-06-30 1,449.70 5,538.80 447.10
2018-03-31 1,566.70 5,891.30 433.00
2017-12-31 1,577.50 5,661.90 351.30
2017-09-30 2,394.30 5,628.90 1,232.70
2017-06-30 2,351.70 5,480.40 1,264.80
2017-03-31 2,337.20 4,896.30 808.30
2016-12-31 2,343.10 4,890.20 885.70
2016-09-30 2,528.00 4,984.10 975.20
2016-06-30 2,564.10 4,695.70 856.00
2016-03-31 2,765.90 4,468.60 898.10
2015-12-31 2,865.10 4,316.30 731.60
2015-09-30 2,924.80 3,999.10 541.60
2015-06-30 3,046.60 3,980.40 992.60
2015-03-31 3,063.20 3,375.10 669.90
2014-12-31 3,043.90 3,023.30 937.70
2014-09-30 2,703.80 2,755.70 787.00
2014-06-30 2,794.30 2,274.70 599.70
2014-03-31 2,624.20 1,628.30 1,573.10
2013-12-31 818.90 850.80 178.20
2013-09-30 775.66 789.56 181.37
2013-06-30 651.18 798.16 139.65
2013-03-31 640.34 700.63 198.45
2012-12-31 518.80 686.10 120.90
2012-09-30 506.48 320.17 126.80
2012-06-30 404.36 354.35 86.49
  • Kennedy-Wilson Holdings's level of debt (418.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (62.3% vs 418.8% today).
  • Debt is not well covered by operating cash flow (0.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Kennedy-Wilson Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kennedy-Wilson Holdings 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.

KW Dividends

 What is Kennedy-Wilson Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.94%
Current annual income from Kennedy-Wilson Holdings dividends. Estimated to be 4.08% next year.
If you bought $2,000 of Kennedy-Wilson Holdings shares you are expected to receive $79 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?
  • Kennedy-Wilson Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Kennedy-Wilson Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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:KW 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 3 Analyst Estimates (S&P Global) See Below
United States of America Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

NYSE:KW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.89 1.00
2019-12-31 0.85 1.00
NYSE:KW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-27 0.840 3.923
2018-10-31 0.840 4.332
2018-09-07 0.760 3.768
2018-06-07 0.760 3.566
2018-02-22 0.760 4.151
2017-11-02 0.760 4.248
2017-09-08 0.680 3.557
2017-08-04 0.680 3.526
2017-08-03 0.680 3.422
2017-02-23 0.680 3.344
2016-12-02 0.560 2.698
2016-09-09 0.560 2.582
2016-06-10 0.560 2.746
2016-05-06 0.560 2.714
2016-05-04 0.560 2.756
2016-02-29 0.560 2.617
2016-02-25 0.560 2.965
2015-12-09 0.480 2.377
2015-09-09 0.480 1.959
2015-06-09 0.480 1.924
2015-02-25 0.480 1.857
2014-12-04 0.360 1.371
2014-09-04 0.360 1.408
2014-06-17 0.360 1.414
2014-02-26 0.360 1.532
2013-12-17 0.280 1.210
2013-09-17 0.280 1.425
2013-06-20 0.280 1.567
2013-03-12 0.280 1.711
2012-11-29 0.200 1.377
2012-09-14 0.200 1.469
2012-06-14 0.200 1.450
2012-03-12 0.200 1.480
2011-12-14 0.160 1.282
2011-09-12 0.160 1.443
2011-06-21 0.160 1.377

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

  • Whilst dividend payments have been stable, Kennedy-Wilson Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Kennedy-Wilson Holdings only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Kennedy-Wilson Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x 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 Kennedy-Wilson Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kennedy-Wilson Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kennedy-Wilson Holdings has a total score of 3/6, see the detailed checks below.


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

KW Management

 What is the CEO of Kennedy-Wilson Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bill McMorrow
COMPENSATION $13,426,907
AGE 71
TENURE AS CEO 31.3 years
CEO Bio

Mr. William J. McMorrow, also known as Bill, serves as the Chief Executive Officer of Kennedy Wilson Commercial Investment Group. Mr. McMorrow has been the Chairman and Chief Executive Officer at Kennedy-Wilson Holdings, Inc. since 1988. He has 39 years of Real Estate experience. He also has more than 17 years of banking experience. He joined Kennedy-Wilson Holdings in 1988. He is the architect of Kennedy-Wilson Holdings’s expansion into real estate brokerage, property management and investment services. Prior to joining Kennedy-Wilson Holdings, he served as Executive Vice President at Imperial BanCorp. and also served senior positions with a variety of financial services companies, including eight years as a Senior Vice President of Fidelity Bank. He has been a Non-Executive Director at Kennedy-Wilson Holdings, Inc. since 1988. He was a Non-Executive Director at Kennedy Wilson Europe Real Estate plc since January 24, 2014 until November 15, 2017. He serves as Chairman of Kennedy Wilson Japan Co., Ltd. He serves on the Executive Board of the USC Lusk Center for Real Estate. He served as a Director of Struxicon, Inc. and Kenedix, Inc. He is involved in numerous charities in Southern California, including Chrysalis, the Rape Treatment Center, the Village School and Loyola High School. Mr. McMorrow is a member of the Loyola High School Board of Regents and Windward School Board. He got Cahalan Award for Distinguished Alumni in 2010. He endowed the William J. McMorrow Global Real Estate Program at the USC Marshall School of Business. Mr. McMorrow received an M.B.A. and a B.S. degrees in Business from the University of Southern California. Mr. McMorrow attended Loyola High School.

CEO Compensation
  • Bill's compensation has been consistent with company performance over the past year.
  • Bill'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 Kennedy-Wilson Holdings management team in years:

6.3
Average Tenure
46
Average Age
  • The average tenure for the Kennedy-Wilson Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Bill McMorrow

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
71
TENURE
31.3 yrs

Mary Ricks

TITLE
President & Director
COMPENSATION
$10M
AGE
54
TENURE
0.8 yrs

Justin Enbody

TITLE
Chief Financial Officer
COMPENSATION
$4M
AGE
37
TENURE
7.1 yrs

Kent Mouton

TITLE
Executive VP
COMPENSATION
$5M
AGE
65
TENURE
8.3 yrs

Matt Windisch

TITLE
Executive Vice President
COMPENSATION
$5M
AGE
38
TENURE
7.3 yrs

Daven Bhavsar

TITLE
Vice President of Investor Relations

Regina Finnegan

TITLE
Executive VP and Director of Global Risk Management & Human Resources
TENURE
2.3 yrs

In Lee

TITLE
Senior VP
AGE
37
TENURE
6.3 yrs

Mike Collins

TITLE
Chief Operating Officer of Kennedy Wilson Europe
TENURE
3 yrs

Gautam Doshi

TITLE
Managing Director
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Kennedy-Wilson Holdings board of directors in years:

12
Average Tenure
67.5
Average Age
  • The average tenure for the Kennedy-Wilson Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Bill McMorrow

TITLE
Chairman & CEO
COMPENSATION
$13M
AGE
71
TENURE
31.3 yrs

Mary Ricks

TITLE
President & Director
COMPENSATION
$10M
AGE
54
TENURE
1.3 yrs

Kent Mouton

TITLE
Executive VP
COMPENSATION
$5M
AGE
65
TENURE
24.3 yrs

Norm Creighton

TITLE
Director
COMPENSATION
$393K
AGE
82
TENURE
15.3 yrs

Cathy L. Hendrickson

TITLE
Director
COMPENSATION
$391K
AGE
71
TENURE
15.3 yrs

Dave Minella

TITLE
Lead Independent Director
COMPENSATION
$381K
AGE
65
TENURE
1.1 yrs

John Taylor

TITLE
Director
COMPENSATION
$380K
AGE
68
TENURE
1.3 yrs

Jerry Solomon

TITLE
Director
COMPENSATION
$381K
AGE
67
TENURE
18.3 yrs

Stanley Zax

TITLE
Director
COMPENSATION
$381K
AGE
80
TENURE
8.8 yrs

Sanaz Zaimi

TITLE
Director
COMPENSATION
$334K
AGE
47
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Kennedy-Wilson Holdings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. Mar 19 Buy Trevor Bowen Individual 20. Mar 19 20. Mar 19 13,500 $20.93 $282,555
07. Mar 19 Buy Richard Boucher Individual 06. Mar 19 06. Mar 19 7,100 $21.00 $149,100
X
Management checks
We assess Kennedy-Wilson Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kennedy-Wilson Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

KW News

Simply Wall St News

Have Insiders Been Buying Kennedy-Wilson Holdings, Inc. (NYSE:KW) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Kennedy-Wilson Holdings, Inc. … NYSE:KW Recent Insider Trading, May 16th 2019 Kennedy-Wilson Holdings is not the only stock insiders are buying. … Kennedy-Wilson Holdings Insiders Bought Stock Recently Over the last quarter, Kennedy-Wilson Holdings insiders have spent a meaningful amount on shares.

Simply Wall St -

Should We Worry About Kennedy-Wilson Holdings, Inc.'s (NYSE:KW) P/E Ratio?

We'll show how you can use Kennedy-Wilson Holdings, Inc.'s (NYSE:KW) P/E ratio to inform your assessment of the investment opportunity. … Kennedy-Wilson Holdings has a price to earnings ratio of 21.15, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should You Buy Kennedy-Wilson Holdings, Inc. (NYSE:KW) For Its Dividend?

Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if Kennedy-Wilson Holdings is a new dividend aristocrat in the making. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.

Simply Wall St -

Why Kennedy-Wilson Holdings, Inc. (NYSE:KW) Could Be Worth Watching

As a US$3.1b market-cap stock, it seems odd Kennedy-Wilson Holdings is not more well-covered by analysts. … However, this is not necessarily a bad thing given that there are less eyes on the stock to push it closer to fair value? … Let’s examine Kennedy-Wilson Holdings’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Kennedy-Wilson Holdings, Inc. (NYSE:KW): Ex-Dividend Is In 2 Days

To qualify for the dividend check of US$0.21 per share, investors must have owned the shares prior to 28 March 2019, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … Does earnings amply cover its dividend payments … Will the company be able to keep paying dividend based on the future earnings growth

Simply Wall St -

If You Had Bought Kennedy-Wilson Holdings Shares A Year Ago You'd Have Made 26%

(NYSE:KW) share price is up 26% in the last year, clearly besting than the market return of around 3.1%. … To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.

Simply Wall St -

Estimating The Fair Value Of Kennedy-Wilson Holdings, Inc. (NYSE:KW)

by projecting its future cash flows and then discounting them to today's value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Why Kennedy-Wilson Holdings, Inc.'s (NYSE:KW) CEO Pay Matters To You

Bill McMorrow became the CEO of Kennedy-Wilson Holdings, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Bill McMorrow's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Kennedy-Wilson Holdings Inc (NYSE:KW) A High Quality Stock To Own?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Kennedy-Wilson Holdings Inc (NYSE:KW). … Kennedy-Wilson Holdings has a ROE of 20%, based on the last twelve months. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why Kennedy-Wilson Holdings Inc (NYSE:KW) Could Be Worth Watching

Kennedy-Wilson Holdings Inc (NYSE:KW), which is in the real estate business, and is based in United States,. … A question to answer is whether Kennedy-Wilson Holdings's current trading price of $18.84 reflective of the actual value of the? … Let’s take a look at Kennedy-Wilson Holdings’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 -

KW Company Info

Description

Kennedy-Wilson Holdings, Inc. operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and commercial properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan. The company owns interest in approximately 53 million square feet of property, including 28,613 multifamily rental units; and 18.9 million square feet of commercial property. It also provides real estate services primarily to financial services clients. In addition, the company is involved in the development, redevelopment, and entitlement of real estate properties; and management of real estate properties for third parties. Kennedy-Wilson Holdings, Inc. was founded in 1977 and is headquartered in Beverly Hills, California.

Details
Name: Kennedy-Wilson Holdings, Inc.
KW
Exchange: NYSE
Founded: 1977
$3,038,834,175
142,534,436
Website: http://www.kennedywilson.com
Address: Kennedy-Wilson Holdings, Inc.
151 South El Camino Drive,
Beverly Hills,
California, 90212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KW Common Stock New York Stock Exchange US USD 17. Nov 2009
DB 13K Common Stock Deutsche Boerse AG DE EUR 17. Nov 2009
LSE 0JQI Common Stock London Stock Exchange GB USD 17. Nov 2009
Number of employees
Current staff
Staff numbers
344
Kennedy-Wilson Holdings employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:34
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
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.