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First Derivatives

OTCPK:FDRV.F
Snowflake Description

Excellent balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FDRV.F
OTCPK
£615M
Market Cap
  1. Home
  2. US
  3. Software
Company description

First Derivatives plc provides software and consulting services internationally. The last earnings update was 132 days ago. More info.


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FDRV.F Share Price and Events
7 Day Returns
8.4%
OTCPK:FDRV.F
4.1%
US IT
2.9%
US Market
1 Year Returns
-38.6%
OTCPK:FDRV.F
14.9%
US IT
1.4%
US Market
FDRV.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Derivatives (FDRV.F) 8.4% 6.5% 14.6% -38.6% 55.8% 44.3%
US IT 4.1% 5.2% 18.4% 14.9% 80.3% 94.2%
US Market 2.9% 2.5% 10% 1.4% 38.3% 42%
1 Year Return vs Industry and Market
  • FDRV.F underperformed the IT industry which returned 14.9% over the past year.
  • FDRV.F underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
FDRV.F
Industry
5yr Volatility vs Market

Value

 Is First Derivatives 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 First Derivatives 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Derivatives.

OTCPK:FDRV.F 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 9.9%
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:FDRV.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%
IT Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.063 (1 + (1- 19%) (6.04%))
1.077
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.077 * 6.65%)
9.89%

Discounted Cash Flow Calculation for OTCPK:FDRV.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for First Derivatives 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.

OTCPK:FDRV.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 9.89%)
2019 16.89 Analyst x4 15.37
2020 20.50 Analyst x4 16.97
2021 25.20 Analyst x4 18.99
2022 26.00 Analyst x1 17.83
2023 33.50 Analyst x1 20.90
2024 35.80 Analyst x1 20.32
2025 37.75 Est @ 5.46% 19.50
2026 39.50 Est @ 4.64% 18.57
2027 41.11 Est @ 4.07% 17.59
2028 42.62 Est @ 3.66% 16.59
Present value of next 10 years cash flows £182.63
OTCPK:FDRV.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= £42.62 × (1 + 2.73%) ÷ (9.89% – 2.73%)
£611.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £611.06 ÷ (1 + 9.89%)10
£237.86
OTCPK:FDRV.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £182.63 + £237.86
£420.49
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £420.49 / 26.16
£21.53
OTCPK:FDRV.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:FDRV.F represents 1.33966x of AIM:FDP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.33966x
Value per Share
(Listing Adjusted, USD)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 16.07 x 1.33966
$21.53
Value per share (USD) From above. $21.53
Current discount Discount to share price of $31.75
= -1 x ($31.75 - $21.53) / $21.53
-47.5%

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

  • The current share price of First Derivatives 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 First Derivatives's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Derivatives's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:FDRV.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-08-31) in GBP £0.45
AIM:FDP Share Price ** AIM (2019-03-13) in GBP £23.7
United States of America IT Industry PE Ratio Median Figure of 78 Publicly-Listed IT Companies 30.16x
United States of America Market PE Ratio Median Figure of 3,054 Publicly-Listed Companies 17.61x

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

** Primary Listing of First Derivatives.

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

= AIM:FDP Share Price ÷ EPS (both in GBP)

= 23.7 ÷ 0.45

52.38x

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

  • First Derivatives is overvalued based on earnings compared to the US IT industry average.
  • First Derivatives is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Derivatives's expected growth come at a high price?
Raw Data
OTCPK:FDRV.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
17.1%per year
United States of America IT Industry PEG Ratio Median Figure of 64 Publicly-Listed IT Companies 2.43x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 52.38x ÷ 17.1%

3.06x

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

  • First Derivatives is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Derivatives's assets?
Raw Data
OTCPK:FDRV.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-08-31) in GBP £5.41
AIM:FDP Share Price * AIM (2019-03-13) in GBP £23.7
United States of America IT Industry PB Ratio Median Figure of 122 Publicly-Listed IT Companies 4.33x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
OTCPK:FDRV.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:FDP Share Price ÷ Book Value per Share (both in GBP)

= 23.7 ÷ 5.41

4.38x

* Primary Listing of First Derivatives.

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

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

Future Performance

 How is First Derivatives 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
17.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Derivatives expected to grow at an attractive rate?
  • First Derivatives's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Derivatives's earnings growth is expected to exceed the United States of America market average.
  • First Derivatives's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:FDRV.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:FDRV.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 17.1%
OTCPK:FDRV.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 8.7%
United States of America IT Industry Earnings Growth Rate Market Cap Weighted Average 15.7%
United States of America IT Industry Revenue Growth Rate Market Cap Weighted Average 9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
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:FDRV.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:FDRV.F Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-02-29 327 1
2023-02-28 306 1
2022-02-28 286 21 1
2021-02-28 267 30 18 5
2020-02-29 240 27 16 5
2019-02-28 215 23 13 4
OTCPK:FDRV.F Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2018-08-31 204 20 12
2018-05-31 195 20 11
2018-02-28 186 20 10
2017-11-30 177 22 9
2017-08-31 167 24 9
2017-05-31 159 24 9
2017-02-28 152 24 9
2016-11-30 144 20 9
2016-08-31 136 16 9
2016-05-31 126 16 9
2016-02-29 117 15 8
2015-11-30 108 15 12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Derivatives's earnings are expected to grow by 17.1% yearly, however this is not considered high growth (20% yearly).
  • First Derivatives's revenue is expected to grow by 8.7% 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:FDRV.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from First Derivatives Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FDRV.F Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-02-29
2023-02-28
2022-02-28
2021-02-28 0.58 0.66 0.51 2.00
2020-02-29 0.52 0.57 0.48 2.00
2019-02-28 0.47 0.49 0.44 2.00
OTCPK:FDRV.F Past Financials Data
Date (Data in GBP Millions) EPS *
2018-08-31 0.45
2018-05-31 0.43
2018-02-28 0.40
2017-11-30 0.37
2017-08-31 0.34
2017-05-31 0.36
2017-02-28 0.37
2016-11-30 0.38
2016-08-31 0.39
2016-05-31 0.36
2016-02-29 0.33
2015-11-30 0.53

*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.
  • First Derivatives is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Derivatives'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.
First Derivatives 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.

Past Performance

  How has First Derivatives 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 First Derivatives's growth in the last year to its industry (IT).
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.
  • First Derivatives's year on year earnings growth rate has been positive over the past 5 years.
  • First Derivatives's 1-year earnings growth exceeds its 5-year average (34.7% vs 5.1%)
  • First Derivatives's earnings growth has exceeded the US IT industry average in the past year (34.7% vs 15.3%).
Earnings and Revenue History
First Derivatives'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 First Derivatives Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:FDRV.F Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-08-31 203.78 11.56 28.04 -0.29
2018-05-31 194.91 10.89 25.10 -0.56
2018-02-28 186.04 10.21 22.16 -0.82
2017-11-30 176.61 9.40 31.59 -0.06
2017-08-31 167.18 8.58 30.85 0.17
2017-05-31 159.44 8.80 23.98 -0.09
2017-02-28 151.70 9.01 17.11 -0.35
2016-11-30 143.63 9.19 16.70 -0.29
2016-08-31 135.56 9.36 16.29 -0.24
2016-05-31 126.29 8.60 14.42 -0.24
2016-02-29 117.03 7.83 12.54 -0.24
2015-11-30 108.29 12.14 14.04 -0.29
2015-08-31 99.54 16.46 15.53 -0.33
2015-05-31 91.38 16.19 13.25 -0.33
2015-02-28 83.22 15.92 10.96 -0.33
2014-11-30 78.12 11.41 11.51 -0.32
2014-08-31 73.03 6.91 12.06 -0.31
2014-05-31 71.46 6.66 10.92 -0.31
2014-02-28 69.90 6.40 9.78 -0.31
2013-11-30 66.58 5.58 9.97 -0.34
2013-08-31 63.25 4.76 10.17 -0.36
2013-05-31 59.86 4.95 9.88 -0.36
2013-02-28 56.47 5.15 9.60 -0.36
2012-11-30 53.89 5.62 8.16 -0.45
2012-08-31 51.30 6.09 6.72 -0.53
2012-05-31 48.69 6.02 6.82 -0.53

*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.
  • First Derivatives has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Derivatives used its assets less efficiently than the US IT industry average last year based on Return on Assets.
  • First Derivatives has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess First Derivatives'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 IT 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.
First Derivatives has a total score of 4/6, 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 First Derivatives'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 First Derivatives's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • First Derivatives's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • First Derivatives's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of First Derivatives'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 1.9x 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 First Derivatives Company Filings, last reported 6 months ago.

OTCPK:FDRV.F Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2018-08-31 139.31 37.14 12.98
2018-05-31 139.31 37.14 12.98
2018-02-28 138.10 28.55 12.37
2017-11-30 138.10 28.55 12.37
2017-08-31 137.81 26.84 13.74
2017-05-31 137.81 26.84 13.74
2017-02-28 131.73 29.76 16.25
2016-11-30 131.73 29.76 16.25
2016-08-31 123.95 30.20 13.89
2016-05-31 123.95 30.20 13.89
2016-02-29 113.26 30.22 15.10
2015-11-30 113.26 30.22 15.10
2015-08-31 106.56 30.43 19.97
2015-05-31 106.56 30.43 19.97
2015-02-28 98.32 30.45 14.71
2014-11-30 98.32 30.45 14.71
2014-08-31 54.34 11.63 2.57
2014-05-31 54.34 11.63 2.57
2014-02-28 52.06 15.58 4.39
2013-11-30 52.06 15.58 4.39
2013-08-31 45.80 20.21 4.91
2013-05-31 45.80 20.21 4.91
2013-02-28 39.37 24.51 1.90
2012-11-30 39.37 24.51 1.90
2012-08-31 33.54 22.00 2.23
2012-05-31 33.54 22.00 2.23
  • First Derivatives's level of debt (26.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (44% vs 26.7% today).
  • Debt is well covered by operating cash flow (53.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.3x coverage).
X
Financial health checks
We assess First Derivatives'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. First Derivatives 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 First Derivatives'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
1.01%
Current annual income from First Derivatives dividends. Estimated to be 1.36% next year.
If you bought $2,000 of First Derivatives shares you are expected to receive $20 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?
  • First Derivatives's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • First Derivatives'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:FDRV.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 5 Analyst Estimates (S&P Global) See Below
United States of America IT Industry Average Dividend Yield Market Cap Weighted Average of 33 Stocks 1.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 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 3.6%

Industry and Market average data is calculated daily.

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

OTCPK:FDRV.F Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-02-29
2023-02-28
2022-02-28 0.35 1.00
2021-02-28 0.34 6.00
2020-02-29 0.30 6.00
2019-02-28 0.27 6.00
OTCPK:FDRV.F Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-05-22 0.240 0.813
2018-05-21 0.240 0.563
2017-11-10 0.210 0.547
2017-06-02 0.200 0.676
2017-05-16 0.200 0.697
2016-05-17 0.170 0.805
2016-05-16 0.170 0.947
2015-06-10 0.135 0.906
2015-06-02 0.135 1.011
2014-06-04 0.122 1.100
2014-05-20 0.122 1.163
2013-06-18 0.115 1.279
2012-06-11 0.112 2.126
2012-05-28 0.112 2.297
2011-05-25 0.102 2.064
2011-05-24 0.102 2.035
2010-05-24 0.095 2.505
2010-05-21 0.095 3.248
2009-05-20 0.090 3.633
2009-03-19 0.090 4.252

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 First Derivatives's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3x coverage).
X
Income/ dividend checks
We assess First Derivatives'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 First Derivatives afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Derivatives 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.

Management

 What is the CEO of First Derivatives'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
Brian Conlon
COMPENSATION £693,000
CEO Bio

Mr. Brian G. Conlon founded First Derivatives Plc in 1996 and serves as its Chief Executive Officer. Mr. Conlon has been Chief Executive Officer at Kx Systems, Inc. since November 25, 2015. He served as Managing Director of First Derivatives Plc. Mr. Conlon was trained at KPMG before joining the Risk Management team in Morgan Stanley International in London. He served SunGard as a Capital markets consultant and served at more than 60 financial institutions worldwide. Mr. Conlon serves as a Director of First Derivatives plc.

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

Average tenure and age of the First Derivatives management team in years:

4
Average Tenure
59
Average Age
  • The tenure for the First Derivatives management team is about average.
Management Team

Brian Conlon

TITLE
CEO & Director
COMPENSATION
£693K

Robert Ferguson

TITLE
CFO & Director
COMPENSATION
£505K
AGE
46

Jon Robson

TITLE
Executive VP - Growth & Strategic Development of North America
COMPENSATION
£73K
AGE
59
TENURE
1.8 yrs

Adrian Toner

TITLE
Chief Operating Officer

Gerry Buggy

TITLE
Chief Technology Officer
TENURE
4 yrs

Ian Mitchell

TITLE
Head of Investor Relations
TENURE
4.5 yrs

Pat Brazel

TITLE
Global Head of Software Sales
AGE
60
TENURE
4 yrs

Victoria Shanks

TITLE
Senior Vice President of Business Development

P. O'Kane

TITLE
Vice President of Marketing & Innovation
TENURE
6.1 yrs

Catherine Harrison

TITLE
Vice President of HR & Training
Board of Directors Tenure

Average tenure and age of the First Derivatives board of directors in years:

4
Average Tenure
58
Average Age
  • The tenure for the First Derivatives board of directors is about average.
Board of Directors

Seamus Keating

TITLE
Non-Executive chairman
COMPENSATION
£100K
AGE
54
TENURE
5.7 yrs

Brian Conlon

TITLE
CEO & Director
COMPENSATION
£693K

Robert Ferguson

TITLE
CFO & Director
COMPENSATION
£505K
AGE
46
TENURE
10.5 yrs

Virginia Gambale

TITLE
Non-Executive Director
COMPENSATION
£78K
AGE
58
TENURE
4 yrs

Keith MacDonald

TITLE
Non-Executive Director
COMPENSATION
£45K
AGE
60
TENURE
4 yrs

Donna Troy

TITLE
Non-Executive Director
COMPENSATION
£6K
AGE
62
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess First Derivatives'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. First Derivatives 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

First Derivatives plc provides software and consulting services internationally. The company operates through Consulting and Software segments. It provides kdb+, an in-memory, time-series database. The company also designs, develops, implements, and supports a range of data and trading systems for front, middle, and back-office operations. In addition, it provides capital markets consulting and managed services, as well as intellectual property and related services. The company serves finance, technology, retail, pharma, manufacturing, telecom, digital marketing, utilities, Industrial Internet of Things, and energy markets. First Derivatives plc was founded in 1996 and is headquartered in Newry, the United Kingdom.

Details
Name: First Derivatives plc
FDRV.F
Exchange: OTCPK
Founded: 1996
£817,287,990
26,162,258
Website: http://www.firstderivatives.com
Address: First Derivatives plc
3 Canal Quay,
Newry,
County Down, BT35 6BP,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM FDP Ordinary Shares London Stock Exchange AIM Market GB GBP 28. Mar 2002
OTCPK FDRV.F Ordinary Shares Pink Sheets LLC US USD 28. Mar 2002
ISE GYQ Ordinary Shares Irish Stock Exchange IE EUR 28. Mar 2002
Number of employees
Current staff
Staff numbers
2,400
First Derivatives employees.
Industry
IT Consulting and Other Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 00:20
End of day share price update: 2019/03/13 00:00
Last estimates confirmation: 2019/03/11
Last earnings filing: 2018/11/06
Last earnings reported: 2018/08/31
Last annual earnings reported: 2018/02/28


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.