Centrica
Centrica plc operates as an integrated energy company in the United Kingdom, the Republic of Ireland, Germany, Norway, rest of Europe, the United States, Canada, and internationally. The last earnings update was 18 days ago. More info.
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- Centrica has significant price volatility in the past 3 months.
CPYY.F Share Price and Events
7 Day Returns
1 Year Returns
CPYY.F Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Centrica (CPYY.F) | -2.9% | -11.2% | -20.6% | -30.6% | -59.1% | -74.8% |
| US Integrated Utilities | -0% | -1.3% | 7.8% | 15.6% | 23.7% | 28% |
| US Market | 0.9% | 4.6% | 10.9% | 9.6% | 39% | 47.2% |
1 Year Return vs Industry and Market
- CPYY.F underperformed the Integrated Utilities industry which returned 15.6% over the past year.
- CPYY.F underperformed the Market in United States of America which returned 9.6% over the past year.
Value
Is Centrica 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
Centrica
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Centrica.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 14 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.1% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6.7% |
| Integrated Utilities Unlevered Beta | Simply Wall St/ S&P Global | 0.31 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.31 (1 + (1- 19%) (80.19%)) |
0.672 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 6.65%) |
8.05% |
Discounted Cash Flow Calculation for OTCPK:CPYY.F using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Centrica 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.
| Levered FCF (GBP, Millions) | Source |
Present Value Discounted (@ 8.05%) |
|
|---|---|---|---|
| 2019 | 660.50 | Analyst x6 | 611.29 |
| 2020 | 765.13 | Analyst x8 | 655.36 |
| 2021 | 1,062.67 | Analyst x6 | 842.41 |
| 2022 | 1,116.50 | Analyst x2 | 819.14 |
| 2023 | 812.00 | Analyst x1 | 551.36 |
| 2024 | 639.04 | Est @ -21.3% | 401.58 |
| 2025 | 548.99 | Est @ -14.09% | 319.29 |
| 2026 | 499.33 | Est @ -9.05% | 268.77 |
| 2027 | 471.80 | Est @ -5.51% | 235.04 |
| 2028 | 457.46 | Est @ -3.04% | 210.91 |
| Present value of next 10 years cash flows | £4,915.17 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= £457.46 × (1 + 2.73%) ÷ (8.05% – 2.73%) |
£8,833.64 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= £8,833.64 ÷ (1 + 8.05%)10 |
£4,072.79 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= £4,915.17 + £4,072.79 |
£8,987.96 |
| Equity Value per Share (GBP) |
= Total value / Shares Outstanding
= £8,987.96 / 5,691.89 |
£1.58 |
| Calculation | Result | |
|---|---|---|
| Non-primary Listing Adjustment Factor |
1 share in OTCPK:CPYY.F
represents 1.33365x
of
LSE:CNA
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
1.33365x |
| Value per Share (Listing Adjusted, USD) |
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.58 x 1.33365 |
$2.11 |
| Value per share (USD) | From above. | $2.11 |
| Current discount | Discount to share price of
$1.39
= -1 x ($1.39 - $2.11) / $2.11 |
34% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Centrica's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Centrica's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Centrica's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Centrica's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in GBP | £0.03 |
| LSE:CNA Share Price ** | LSE (2019-04-25) in GBP | £1.04 |
| United States of America Integrated Utilities Industry PE Ratio | Median Figure of 15 Publicly-Listed Integrated Utilities Companies | 20.37x |
| United States of America Market PE Ratio | Median Figure of 3,081 Publicly-Listed Companies | 18.28x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Centrica.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = LSE:CNA Share Price ÷ EPS (both in GBP) = 1.04 ÷ 0.03 |
32x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Centrica is overvalued based on earnings compared to the US Integrated Utilities industry average.
- Centrica is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Centrica's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 32x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts |
21.7%per year |
| United States of America Integrated Utilities Industry PEG Ratio | Median Figure of 13 Publicly-Listed Integrated Utilities Companies | 3.18x |
| United States of America Market PEG Ratio | Median Figure of 2,113 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 32x ÷ 21.7% |
1.48x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Centrica is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Centrica's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in GBP | £0.55 |
| LSE:CNA Share Price * | LSE (2019-04-25) in GBP | £1.04 |
| United States of America Integrated Utilities Industry PB Ratio | Median Figure of 17 Publicly-Listed Integrated Utilities Companies | 2.19x |
| United States of America Market PB Ratio | Median Figure of 5,185 Publicly-Listed Companies | 1.92x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = LSE:CNA Share Price ÷ Book Value per Share (both in GBP) = 1.04 ÷ 0.55 |
1.88x |
* Primary Listing of Centrica.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Centrica is good value based on assets compared to the US Integrated Utilities industry average.
Value checks
We assess Centrica's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Integrated Utilities industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Integrated Utilities industry average (and greater than 0)? (1 check) Centrica has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is Centrica expected to perform in the next 1 to 3 years based on estimates from 14 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!
Earnings growth vs Low Risk Savings
- Centrica's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Centrica's earnings growth is expected to exceed the United States of America market average.
- Centrica's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OTCPK:CPYY.F Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts | 21.7% |
| OTCPK:CPYY.F Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts | 0.5% |
| United States of America Integrated Utilities Industry Earnings Growth Rate | Market Cap Weighted Average | 12.5% |
| United States of America Integrated Utilities Industry Revenue Growth Rate | Market Cap Weighted Average | 4.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.5% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 14 Analyst Estimates (S&P Global) | See Below |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 30,306 | 1,703 | 718 | 2 |
| 2022-12-31 | 30,909 | 1,817 | 751 | 3 |
| 2021-12-31 | 29,297 | 1,574 | 653 | 12 |
| 2020-12-31 | 28,588 | 1,512 | 573 | 13 |
| 2019-12-31 | 28,315 | 1,357 | 446 | 14 |
| Date (Data in GBP Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 29,686 | 1,934 | 183 |
| 2018-09-30 | 29,372 | 1,771 | 354 |
| 2018-06-30 | 29,045 | 1,607 | 529 |
| 2018-03-31 | 28,534 | 1,724 | 431 |
| 2017-12-31 | 28,035 | 1,840 | 328 |
| 2017-09-30 | 28,028 | 1,989 | 447 |
| 2017-06-30 | 28,021 | 2,137 | 566 |
| 2017-03-31 | 27,562 | 2,267 | 1,119 |
| 2016-12-31 | 27,102 | 2,396 | 1,672 |
| 2016-09-30 | 26,501 | 2,311 | 512 |
| 2016-06-30 | 25,900 | 2,225 | -649 |
| 2016-03-31 | 26,936 | 2,211 | -698 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 14 Analyst Estimates (S&P Global) | See Below |
All data from Centrica Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 0.12 | 0.12 | 0.12 | 1.00 |
| 2022-12-31 | 0.13 | 0.13 | 0.13 | 2.00 |
| 2021-12-31 | 0.13 | 0.16 | 0.10 | 5.00 |
| 2020-12-31 | 0.12 | 0.14 | 0.11 | 5.00 |
| 2019-12-31 | 0.10 | 0.11 | 0.09 | 6.00 |
| Date (Data in GBP Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.03 |
| 2018-09-30 | 0.06 |
| 2018-06-30 | 0.09 |
| 2018-03-31 | 0.08 |
| 2017-12-31 | 0.06 |
| 2017-09-30 | 0.08 |
| 2017-06-30 | 0.10 |
| 2017-03-31 | 0.21 |
| 2016-12-31 | 0.31 |
| 2016-09-30 | 0.10 |
| 2016-06-30 | -0.13 |
| 2016-03-31 | -0.14 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Centrica's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Centrica 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 Centrica 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
Past Earnings growth analysis
- Centrica's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
- Centrica's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Centrica's 1-year earnings growth is negative, it can't be compared to the US Integrated Utilities industry average.
Earnings and Revenue History
All data from Centrica Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in GBP Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 29,686.00 | 183.00 | 1,270.00 | |
| 2018-09-30 | 29,371.50 | 353.50 | 1,265.00 | |
| 2018-06-30 | 29,045.00 | 529.00 | 1,392.00 | |
| 2018-03-31 | 28,534.00 | 431.00 | 1,397.50 | |
| 2017-12-31 | 28,035.00 | 328.00 | 1,271.00 | |
| 2017-09-30 | 28,028.00 | 447.00 | 1,348.50 | |
| 2017-06-30 | 28,021.00 | 566.00 | 1,426.00 | |
| 2017-03-31 | 27,561.50 | 1,119.00 | 1,485.50 | |
| 2016-12-31 | 27,102.00 | 1,672.00 | 1,545.00 | |
| 2016-09-30 | 26,501.00 | 511.50 | 1,551.50 | |
| 2016-06-30 | 25,900.00 | -649.00 | 1,558.00 | |
| 2016-03-31 | 26,935.50 | -698.00 | 1,563.50 | |
| 2015-12-31 | 27,971.00 | -747.00 | 1,569.00 | |
| 2015-09-30 | 28,541.00 | -621.00 | 1,614.00 | |
| 2015-06-30 | 29,111.00 | -495.00 | 1,617.00 | |
| 2015-03-31 | 29,259.50 | -753.50 | 1,537.50 | |
| 2014-12-31 | 29,408.00 | -1,012.00 | 1,458.00 | |
| 2014-09-30 | 29,038.00 | -174.00 | 1,438.50 | |
| 2014-06-30 | 28,668.00 | 664.00 | 1,419.00 | |
| 2014-03-31 | 27,619.50 | 807.00 | 1,387.00 | |
| 2013-12-31 | 26,571.00 | 950.00 | 1,355.00 | |
| 2013-09-30 | 26,093.50 | 1,019.00 | 1,365.50 | |
| 2013-06-30 | 25,616.00 | 1,088.00 | 1,376.00 | |
| 2013-03-31 | 24,779.00 | 1,166.50 | 1,347.00 | |
| 2012-12-31 | 23,942.00 | 1,245.00 | 1,318.00 | |
| 2012-09-30 | 23,617.00 | 1,087.00 | 1,305.50 | |
| 2012-06-30 | 23,292.00 | 929.00 | 1,257.00 |
*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.
- Centrica has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Centrica used its assets less efficiently than the US Integrated Utilities industry average last year based on Return on Assets.
- Centrica has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Centrica's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Integrated Utilities industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Centrica has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Centrica'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 Centrica's finances.
The net worth of a company is the difference between its assets and liabilities.
- Centrica is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Centrica's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.8x 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.
All data from Centrica Company Filings, last reported 3 months ago.
| Date (Data in GBP Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 3,948.00 | 4,754.00 | 1,336.00 |
| 2018-09-30 | 3,948.00 | 4,754.00 | 1,336.00 |
| 2018-06-30 | 4,023.00 | 5,299.00 | 1,599.00 |
| 2018-03-31 | 4,023.00 | 5,299.00 | 1,599.00 |
| 2017-12-31 | 3,432.00 | 6,298.00 | 2,869.00 |
| 2017-09-30 | 3,432.00 | 6,298.00 | 2,869.00 |
| 2017-06-30 | 2,688.00 | 6,304.00 | 2,416.00 |
| 2017-03-31 | 2,688.00 | 6,304.00 | 2,416.00 |
| 2016-12-31 | 2,844.00 | 6,564.00 | 2,049.00 |
| 2016-09-30 | 2,844.00 | 6,564.00 | 2,049.00 |
| 2016-06-30 | 2,818.00 | 6,946.00 | 2,264.00 |
| 2016-03-31 | 2,818.00 | 6,946.00 | 2,264.00 |
| 2015-12-31 | 1,342.00 | 6,794.00 | 1,169.00 |
| 2015-09-30 | 1,342.00 | 6,468.00 | 871.00 |
| 2015-06-30 | 3,470.00 | 6,750.00 | 1,082.00 |
| 2015-03-31 | 3,470.00 | 6,750.00 | 1,082.00 |
| 2014-12-31 | 3,071.00 | 6,986.00 | 632.00 |
| 2014-09-30 | 3,071.00 | 6,986.00 | 632.00 |
| 2014-06-30 | 4,984.00 | 6,356.00 | 826.00 |
| 2014-03-31 | 4,984.00 | 6,356.00 | 826.00 |
| 2013-12-31 | 5,257.00 | 6,079.00 | 728.00 |
| 2013-09-30 | 5,257.00 | 6,079.00 | 728.00 |
| 2013-06-30 | 5,864.00 | 5,402.00 | 811.00 |
| 2013-03-31 | 5,864.00 | 5,402.00 | 811.00 |
| 2012-12-31 | 5,927.00 | 5,416.00 | 1,206.00 |
| 2012-09-30 | 5,927.00 | 5,416.00 | 1,206.00 |
| 2012-06-30 | 6,060.00 | 5,730.00 | 1,002.00 |
- Centrica's level of debt (120.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (115.8% vs 120.4% today).
- Debt is well covered by operating cash flow (40.7%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.6x coverage).
Financial health checks
We assess Centrica's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Centrica has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 Centrica'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
If you bought
$2,000 of
Centrica
shares you are expected to receive
$230
in your first year as a dividend.
Dividend Amount
- Centrica's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
- Centrica's dividend is above the markets top 25% of dividend payers in United States of America (3.61%).
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.
| 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 14 Analyst Estimates (S&P Global) | See Below |
| United States of America Integrated Utilities Industry Average Dividend Yield | Market Cap Weighted Average of 17 Stocks | 3.5% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2008 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in £) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 0.11 | 2.00 |
| 2022-12-31 | 0.10 | 4.00 |
| 2021-12-31 | 0.10 | 13.00 |
| 2020-12-31 | 0.09 | 14.00 |
| 2019-12-31 | 0.10 | 15.00 |
| Date (Data in £) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-08 | 0.120 | 11.112 |
| 2019-02-21 | 0.120 | 10.040 |
| 2018-07-31 | 0.120 | 8.452 |
| 2018-02-22 | 0.120 | 8.142 |
| 2017-08-01 | 0.120 | 7.514 |
| 2017-02-23 | 0.120 | 5.782 |
| 2016-07-28 | 0.120 | 5.379 |
| 2016-05-19 | 0.120 | 5.549 |
| 2015-02-19 | 0.135 | 5.733 |
| 2014-02-21 | 0.170 | 5.546 |
| 2013-07-31 | 0.167 | 4.750 |
| 2013-03-28 | 0.164 | 4.368 |
| 2013-02-27 | 0.164 | 4.602 |
| 2012-02-23 | 0.154 | 4.751 |
| 2011-02-24 | 0.143 | 4.668 |
| 2010-02-25 | 0.128 | 4.090 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Centrica has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Centrica has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Income/ dividend checks
We assess Centrica's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Centrica afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Centrica 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.
Management
CEO
| COMPENSATION | £1,694,000 |
| AGE | 55 |
| TENURE AS CEO | 4.3 years |
CEO Bio
Mr. Iain C. Conn has been the Group Chief Executive of Centrica plc since January 1, 2015. Mr. Conn serves as the Chief executive of Refining & Marketing at BP Zambia plc. He served as Chief executive Officer of Downstream at BP Norge AS since June 1, 2007. Mr. Conn served as the Chief Executive of Downstream of BP PLC from June 1, 2007 to October 1, 2014. He served as Group Managing Director of BP PLC. He served as Group Executive Officer of Strategic Resources at BP PLC since July 1, 2004 and was responsible for Europe, including the UK, together with Russia, the Middle East, the Caspian and Africa. He joined BP PLC in 1985 and held a number of posts in supply and trading, refining & marketing, exploration and production and in BP Group headquarters. He served as the Chief Executive of BP Plc's Petrochemicals segment from November 2002 to 2004. He has international experience, and an understanding of technology, energy and regulated consumer markets. He worked in BP's refining & marketing segment as Group Vice President responsible for BP's marketing operations in Europe. He joined BP Oil International in 1986, working in a variety of roles in oil trading, commercial refining and exploration before becoming, on the merger between BP and Amoco in 1999, Vice president of BP Amoco Exploration's mid-continent business unit in Houston. At the end of 1997, he became Senior Vice President of BP oil in the US, responsible for retail and commercial marketing operations, refining and supply. He was also responsible for the integration of Veba Oel into the BP organisation and had regional responsibility for BP in Europe. Mr. Conn serves as the Chairman of BP Pension Trustees Ltd. He serves as Chairman of the Advisory Board of The Imperial College London Tanaka Business School and member of the Imperial College Council. He served as an Executive Director of the BP group from July 1, 2004 to 2014. He has been an Independent Non-Executive Director of BT Group plc since June 1, 2014. He has been an Executive Director of Centrica plc since January 1, 2015. He serves as an Executive Director of BP Zambia plc. He served as an Executive Director of BP P.L.C. from July 1, 2004 to December 31, 2014. He served as a Director of BP Norge AS since July 1, 2004. He served as a Non-Executive Director of Rolls Royce Holdings plc from January 1, 2005 to May 1, 2014 and its Senior Independent Director from September 13, 2007 to May 1, 2014. He joined Rolls-Royce in 2005. He was Director of Rolls-Royce plc from January 2005 to May 1, 2014 and its Senior Independent Director until May 1, 2014. He possesses a deep understanding of the energy sector built up over a lifetime in the industry and has demonstrated strong commitment to customers, safety and technology. He was a Board Member of BP for 10 years from 2004 and had previously held a number of senior roles throughout the organisation in trading, exploration and production and the management of corporate functions such as safety, marketing, technology and human resources. He is a fellow of the Royal Academy of Engineering, and the Royal Society of Edinburgh, the Institution. Mr. Conn was educated in Musselburgh, Scotland and studied chemical engineering and management at The Imperial College, London.
CEO Compensation
- Iain's compensation has been consistent with company performance over the past year.
- Iain'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 Centrica management team in years:
- The tenure for the Centrica management team is about average.
Management Team
Iain Conn
Group CEO & Executive Director
£2M
55
4.3 yrs
Jeff Bell
Financial Advisor
£967K
0.5 yrs
Chris O’Shea
Group CFO & Executive Director
0.4 yrs
Charles Cameron
Director of Technology & Engineering and Centrica Innovations
3.3 yrs
Mike Young
Group Chief Information Officer
2.4 yrs
Martyn Espley
Head of Investor Relations
Kath Kyle
Director
Justine Campbell
General Counsel & Company Secretary
47
Tim Cowen
Director of Media Relations
Jill Shedden
Group Director of Human Resources
52
7.8 yrs
Board of Directors Tenure
Average tenure and age of the Centrica board of directors in years:
- The average tenure for the Centrica board of directors is less than 3 years, this suggests a new board.
Board of Directors
Charles Berry
Chairman of the Board
66
0.2 yrs
Iain Conn
Group CEO & Executive Director
£2M
55
4.3 yrs
Chris O’Shea
Group CFO & Executive Director
0.4 yrs
Sarwjit Sambhi
CEO of Centrica Consumer & Executive Director
0.1 yrs
Richard Hookway
Chief Executive of Centrica Business & Director
0.3 yrs
Margherita Della Valle
Non-Executive Director
£98K
52
8.3 yrs
Steve Pusey
Non-Executive Director
£93K
56
4 yrs
Jonathan Wheway
Non-Executive Director
£85K
52
2.9 yrs
Stephen A. Hester
Senior Independent Director
£93K
57
2.5 yrs
Carlos Pascual
Non-Executive Director
£73K
4.3 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Centrica insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25. Feb 19 | Buy | Iain Conn | Individual | 25. Feb 19 | 25. Feb 19 | 100,000 | $1.61 | $160,867 | ||
| 27. Nov 18 | Buy | Margherita Della Valle | Individual | 26. Nov 18 | 26. Nov 18 | 1,492 | $1.70 | $2,534 | ||
| 25. Oct 18 | Buy | Margherita Della Valle | Individual | 25. Oct 18 | 25. Oct 18 | 1,323 | $1.92 | $2,534 | ||
| 26. Sep 18 | Buy | Margherita Della Valle | Individual | 25. Sep 18 | 25. Sep 18 | 1,340 | $1.94 | $2,601 | ||
| 30. Aug 18 | Buy | Margherita Della Valle | Individual | 28. Aug 18 | 28. Aug 18 | 1,385 | $1.84 | $2,546 | ||
| 26. Jul 18 | Buy | Margherita Della Valle | Individual | 25. Jul 18 | 25. Jul 18 | 1,306 | $1.99 | $2,597 | ||
| 25. Jun 18 | Buy | Margherita Della Valle | Individual | 25. Jun 18 | 25. Jun 18 | 1,259 | $2.08 | $2,624 | ||
| 29. May 18 | Buy | Margherita Della Valle | Individual | 25. May 18 | 25. May 18 | 1,357 | $1.94 | $2,631 | ||
| 29. May 18 | Buy | Stephen Pusey | Individual | 25. May 18 | 25. May 18 | 1,610 | $1.94 | $3,121 | ||
| 09. May 18 | Sell | Mark Hanafin | Individual | 08. May 18 | 08. May 18 | -89,365 | $2.08 | $-185,525 | ||
| 09. May 18 | Sell | Mark Hodges | Individual | 08. May 18 | 08. May 18 | -89,365 | $2.08 | $-185,525 | ||
| 09. May 18 | Sell | Iain Conn | Individual | 08. May 18 | 08. May 18 | -132,261 | $2.08 | $-274,579 | ||
Management checks
We assess Centrica's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Centrica 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.
Company Info
Description
Centrica plc operates as an integrated energy company in the United Kingdom, the Republic of Ireland, Germany, Norway, rest of Europe, the United States, Canada, and internationally. The company operates through Centrica Consumer, Centrica Business, and Exploration & Production segments. It supplies gas and electricity to residential customers, as well as offers energy-related services; and generates power from combined cycle gas turbines and nuclear assets. The company also provides installation, repair, and maintenance services for domestic central heating, plumbing and drains, and gas and kitchen appliances; heating, ventilation, and air conditioning equipment; and water heaters, as well as offers breakdown services. In addition, it is involved in the procurement, trading, and optimization of energy; and supplies energy efficiency solutions and technologies to residential customers. Further, the company produces and processes gas and oil; develops new fields to maintain reserves; constructs, owns, and exploits infrastructure; and engages in the social enterprise investment fund activities. Additionally, it provides vehicle leasing, commercial, and insurance services, as well as energy management products and services; and operates a gas storage, and franchise network. The company also provides sea freight water transport services. It primarily supplies energy and services to approximately 25 million customers under the British Gas, Direct Energy, and Bord Gáis Energy brands. The company was formerly known as Yieldtop plc and changed its name to Centrica plc in December 1996. Centrica plc was incorporated in 1995 and is headquartered in Windsor, the United Kingdom.
Details
| Name: | Centrica plc |
| CPYY.F | |
| Exchange: | OTCPK |
| Founded: | 1995 |
| £7,650,053,121 | |
| 5,691,889,260 | |
| Website: | http://www.centrica.com |
| Address: |
Centrica plc Millstream, Maidenhead Road, Windsor, Berkshire, SL4 5GD, United Kingdom |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| LSE | CNA | Ordinary Shares | London Stock Exchange | GB | GBP | 10. Feb 1997 | |
| OTCPK | CPYY.F | Ordinary Shares | Pink Sheets LLC | US | USD | 10. Feb 1997 | |
| DB | CENB | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 10. Feb 1997 | |
| BATS-CHIXE | CNAL | Ordinary Shares | BATS 'Chi-X Europe' | GB | GBP | 10. Feb 1997 | |
| OTCPK | CPYY.Y | SPON ADR NEW | Pink Sheets LLC | US | USD | 13. Jan 1999 |
Number of employees
Current staff
Industry
| Multi-Utilities | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/26 01:56 |
| End of day share price update: | 2019/04/25 00:00 |
| Last estimates confirmation: | 2019/04/18 |
| Last earnings filing: | 2019/04/08 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
