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Infratil

OTCPK:IFUU.F
Snowflake Description

Average dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IFUU.F
OTCPK
NZ$2B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

Infratil Limited owns and operates infrastructure and utility businesses and investments in New Zealand, Australia, and the United States. The last earnings update was 11 days ago. More info.


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IFUU.F Share Price and Events
7 Day Returns
0%
OTCPK:IFUU.F
-1.6%
US Electric Utilities
-3%
US Market
1 Year Returns
-
OTCPK:IFUU.F
-1.5%
US Electric Utilities
5.4%
US Market
IFUU.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Infratil (IFUU.F) 0% 0% - - - -
US Electric Utilities -1.6% -1.6% 1.1% -1.5% 35.4% 51.1%
US Market -3% 0.9% -7.6% 5.4% 46.8% 84.8%
1 Year Return vs Industry and Market
  • No trading data on IFUU.F.
  • No trading data on IFUU.F.
Price Volatility
IFUU.F
Industry
5yr Volatility vs Market

Value

 Is Infratil 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 Infratil 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 Infratil.

OTCPK:IFUU.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 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

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:IFUU.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.3
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.302 (1 + (1- 28%) (136.96%))
0.601
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)
= 2.95% + (0.8 * 7.05%)
8.59%

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

The calculations below outline how an intrinsic value for Infratil is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:IFUU.F DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (NZD, Millions) 46.00 123.50 117.00 119.19 121.43
Source Analyst x2 Analyst x2 Analyst x1 Est @ 1.87% Est @ 1.87%
Present Value
Discounted (@ 8.59%)
42.36 104.73 91.37 85.72 80.42
Present value of next 5 years cash flows NZ$404.61
OTCPK:IFUU.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= NZ$121.43 × (1 + 2.95%) ÷ (8.59% – 2.95%)
NZ$2,216.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= NZ$2,216.47 ÷ (1 + 8.59%)5
NZ$1,467.96
OTCPK:IFUU.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= NZ$404.61 + NZ$1,467.96
NZ$1,872.57
Equity Value per Share
(NZD)
= Total value / Shares Outstanding
= NZ$1,872.57 / 559.28
NZ$2.08
OTCPK:IFUU.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:IFUU.F represents 0.62059x of NZSE:IFT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.62059x
Value per Share
(Listing Adjusted, USD)
= Value per Share (NZD) x Listing Adjustment Factor
= NZ$ 3.35 x 0.62059
$2.08
Value per share (USD) From above. $2.08
Current discount Discount to share price of $2.20
= -1 x ($2.20 - $2.08) / $2.08
-5.9%

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

  • The current share price of Infratil 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 Infratil's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Infratil's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:IFUU.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in NZD NZ$0.12
NZSE:IFT Share Price ** NZSE (2018-08-27) in NZD NZ$3.55
United States of America Electric Utilities Industry PE Ratio Median Figure of 27 Publicly-Listed Electric Utilities Companies 20.58x
United States of America Market PE Ratio Median Figure of 2,993 Publicly-Listed Companies 17.88x

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

** Primary Listing of Infratil.

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

= NZSE:IFT Share Price ÷ EPS (both in NZD)

= 3.55 ÷ 0.12

29.67x

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

  • Infratil is overvalued based on earnings compared to the US Electric Utilities industry average.
  • Infratil is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Infratil's expected growth come at a high price?
Raw Data
OTCPK:IFUU.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-27.9%per year
United States of America Electric Utilities Industry PEG Ratio Median Figure of 22 Publicly-Listed Electric Utilities Companies 2.51x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.67x ÷ -27.9%

-1.06x

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

  • Infratil 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 Infratil's assets?
Raw Data
OTCPK:IFUU.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in NZD NZ$3.31
NZSE:IFT Share Price * NZSE (2018-08-27) in NZD NZ$3.55
United States of America Electric Utilities Industry PB Ratio Median Figure of 29 Publicly-Listed Electric Utilities Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,001 Publicly-Listed Companies 1.84x
OTCPK:IFUU.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NZSE:IFT Share Price ÷ Book Value per Share (both in NZD)

= 3.55 ÷ 3.31

1.07x

* Primary Listing of Infratil.

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

  • Infratil is good value based on assets compared to the US Electric Utilities industry average.
X
Value checks
We assess Infratil'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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Infratil has a total score of 1/6, 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 Infratil expected to perform in the next 1 to 3 years based on estimates from 4 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
-27.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Infratil expected to grow at an attractive rate?
  • Infratil's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3%.
Growth vs Market Checks
  • Infratil's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Infratil's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:IFUU.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:IFUU.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -27.9%
OTCPK:IFUU.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts -2.4%
United States of America Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 6.6%
United States of America Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
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 7.2%

*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:IFUU.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in NZD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:IFUU.F Future Estimates Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 1,816 161 37 2
2020-03-31 1,786 273 86 3
2019-03-31 1,954 297 116 3
OTCPK:IFUU.F Past Financials Data
Date (Data in NZD Millions) Revenue Cash Flow Net Income *
2018-09-30 1,787 308 67
2018-06-30 1,759 302 56
2018-03-31 1,731 296 45
2017-09-30 1,744 265 56
2017-06-30 1,766 255 52
2017-03-31 1,788 245 48
2016-12-31 1,837 233 34
2016-09-30 1,820 240 3
2016-06-30 1,764 245 2
2016-03-31 1,709 251 2
2015-12-31 1,677 243 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Infratil's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Infratil's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:IFUU.F 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 4 Analyst Estimates (S&P Global) See Below

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

OTCPK:IFUU.F Future Estimates Data
Date (Data in NZD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 0.17 0.28 0.07 2.00
2020-03-31 0.16 0.22 0.08 3.00
2019-03-31 0.22 0.25 0.20 2.00
OTCPK:IFUU.F Past Financials Data
Date (Data in NZD Millions) EPS *
2018-09-30 0.12
2018-06-30 0.10
2018-03-31 0.08
2017-09-30 0.10
2017-06-30 0.09
2017-03-31 0.09
2016-12-31 0.06
2016-09-30 0.00
2016-06-30 0.00
2016-03-31 0.00
2015-12-31 0.01

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

Past Performance

  How has Infratil 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 Infratil's growth in the last year to its industry (Electric Utilities).
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.
  • Infratil's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Infratil's 1-year earnings growth exceeds its 5-year average (19.3% vs -48.3%)
  • Infratil's earnings growth has exceeded the US Electric Utilities industry average in the past year (19.3% vs 5.1%).
Earnings and Revenue History
Infratil'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 Infratil Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:IFUU.F Past Revenue, Cash Flow and Net Income Data
Date (Data in NZD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 1,787.00 66.80 218.00
2018-06-30 1,759.15 55.95 217.35
2018-03-31 1,731.30 45.10 216.70
2017-09-30 1,743.50 56.00 205.10
2017-06-30 1,765.95 52.05 205.75
2017-03-31 1,788.40 48.10 206.40
2016-12-31 1,837.20 34.35 205.70
2016-09-30 1,819.60 2.60 203.50
2016-06-30 1,764.15 2.30 198.40
2016-03-31 1,708.70 2.00 193.30
2015-12-31 1,677.20 7.15 189.35
2015-09-30 1,645.70 12.30 185.40
2015-06-30 1,635.30 11.85 183.05
2015-03-31 1,624.90 11.40 180.70
2014-12-31 1,603.80 38.45 179.15
2014-09-30 1,582.70 65.50 177.60
2014-06-30 1,549.25 177.50 173.65
2014-03-31 1,515.80 289.50 169.70
2013-12-31 1,704.00 287.80 185.55
2013-09-30 1,892.20 286.10 201.40
2013-06-30 2,130.60 175.80 218.25
2013-03-31 2,369.00 65.50 235.10
2012-12-31 2,329.70 64.90 232.90
2012-09-30 2,290.40 64.30 230.70
2012-06-30 2,228.50 76.65 228.10
2012-03-31 2,166.60 89.00 225.50

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

Health

 How is Infratil'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 Infratil's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Infratil's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Infratil's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Infratil'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x 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 Infratil Company Filings, last reported 1 month ago.

OTCPK:IFUU.F Past Debt and Equity Data
Date (Data in NZD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 2,876.40 2,715.40 219.30
2018-06-30 2,876.40 2,715.40 219.30
2018-03-31 3,132.70 2,667.00 380.50
2017-09-30 3,123.00 2,956.30 586.80
2017-06-30 3,123.00 2,956.30 586.80
2017-03-31 3,140.90 2,808.80 506.70
2016-12-31 3,140.90 2,808.80 506.70
2016-09-30 2,981.80 2,772.80 319.10
2016-06-30 2,981.80 2,772.80 319.10
2016-03-31 3,070.00 2,698.40 775.50
2015-12-31 3,070.00 2,698.40 775.50
2015-09-30 2,962.40 2,654.60 313.20
2015-06-30 2,962.40 2,654.60 313.20
2015-03-31 2,555.30 2,601.30 363.40
2014-12-31 2,555.30 2,601.30 363.40
2014-09-30 2,413.40 2,748.50 832.10
2014-06-30 2,413.40 2,748.50 832.10
2014-03-31 2,035.90 2,607.40 144.20
2013-12-31 2,035.90 2,607.40 144.20
2013-09-30 2,123.50 2,540.60 242.80
2013-06-30 2,123.50 2,540.60 242.80
2013-03-31 1,935.50 2,620.70 144.30
2012-12-31 1,935.50 2,620.70 144.30
2012-09-30 1,939.90 2,595.40 163.10
2012-06-30 1,939.90 2,595.40 163.10
2012-03-31 2,006.60 2,410.50 107.00
  • Infratil's level of debt (94.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (119.7% vs 94.4% today).
  • Debt is not well covered by operating cash flow (11.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Infratil'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. Infratil 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.

Dividends

 What is Infratil'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
5.26%
Current annual income from Infratil dividends. Estimated to be 5.22% next year.
If you bought $2,000 of Infratil shares you are expected to receive $105 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?
  • Infratil's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Infratil's dividend is above the markets top 25% of dividend payers in United States of America (3.59%).
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:IFUU.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 4 Analyst Estimates (S&P Global) See Below
United States of America Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 3.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1981 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:IFUU.F Future Dividends Estimate Data
Date (Data in NZ$) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.19 5.00
2020-03-31 0.19 6.00
2019-03-31 0.18 4.00
OTCPK:IFUU.F Past Annualized Dividends Data
Date (Data in NZ$) Dividend per share (annual) Avg. Yield (%)
2018-05-16 0.186 5.437
2017-12-04 0.160 5.015
2017-05-22 0.158 5.068
2016-11-14 0.148 5.156
2016-05-17 0.143 4.401
2015-11-10 0.133 4.174
2015-05-18 0.125 3.988
2014-05-13 0.108 3.855
2013-11-11 0.098 4.283
2013-05-14 0.093 3.843
2012-05-15 0.080 3.610
2012-05-14 0.080 3.941
2011-05-16 0.068 3.666
2010-11-15 0.063 3.274
2010-05-18 0.063 3.715
2009-05-18 0.063 3.732
2008-11-25 0.063 3.856

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 Infratil's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Infratil'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 Infratil afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Infratil 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 Infratil'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
Marko Bogoievski
COMPENSATION NZ$110,000
AGE 52
CEO Bio

Mr. Marko Bogoievski, BCA, MBA, ACA, FCA, serves as the Chief Executive Officer of Infratil Limited and HRL Morrison & Co Limited. Mr. Bogoievski served as Chief Operating Officer of Infratil Limited. He served as the Chief Financial Officer of Telecom Corp. of New Zealand Ltd. from May 2000 to January 31, 2008. He was responsible for corporate finance, merger and acquisition and group strategy at Telecom. Mr. Bogoievski served as the Chief Financial Officer of Dispatch Management Services Corp. since November 1997 and also served as its Principal Accounting Officer. From April 1996 to November 1997, he served as the Chief Financial Officer at Ansett New Zealand Limited. From September 1993 to April 1996, Mr. Bogoievski served as Finance Director at Lion Nathan Limited. He held a number of senior financial, operational and sales roles in New Zealand and the United States with various organizations including Price Waterhouse, Lion Nathan and Ansett. Mr. Bogoievski has been a Director of Infratil Limited since January 2009 and Director of Trust Power and Director of Long Road Energy. He also serves as a Director of Morrison& Co., Infratil Energy Australia, NZ Bus and Greenstone Energy Finance Limited. Mr. Bogoievski has been a Director of AAPT Ltd. since May 11, 2000. He serves as a Director of Telecom New Zealand Limited and various other Telecom subsidiaries. Mr. Bogoievski served as a Director of Hutchison Telecommunications Australia Ltd. from October 19, 2007 to January 31, 2008. He served as a Director at TrustPower Limited from February 2009 to October 11, 2017. Mr. Bogoievski served as a Director at Z Energy Limited from April 01, 2010 to July 6, 2016 and also served as its Chairman of The Board. He served as a Director of Sky Network Television Ltd. from February 2001 to April 2006. Mr. Bogoievski served as Director of TCNZ Finance Limited. He graduated from Victoria University of Wellington with a Bachelor of Commerce and Administration (BCA) majoring in Economics and Accounting. Mr. Bogoievski also holds an MBA from the Harvard Graduate School of Business.

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

Marko Bogoievski

TITLE
CEO & Director
COMPENSATION
NZ$110K
AGE
52

Phillippa Harford

TITLE
Chief Financial Officer
TENURE
3.5 yrs

Rachel Drew

TITLE
Head of Technology and Business Efficiency Initiatives - H R L Morrison & Co

Mark Flesher

TITLE
Head of Capital Markets and Investor Relations - H R L Morrison & Co

Anthony Y. Muh

TITLE
Head of Asian Operations and Investment Activities - H R L Morrison & Co
AGE
54

Peter Coman

TITLE
Head-Property & Social Infra-H R L Morrison & Co & Director-Infratil Infrastructure Property Ltd

Jason Boyes

TITLE
Head - Legal
AGE
73

Will Smales

TITLE
Head - Pvt Markets Investm Activity - H R L Morrison & Co

Paul Newfield

TITLE
Chief Investment Officer of H.R.L. Morrison & Co. and Director of Tilt Renewables

Matt Harrison

TITLE
Head of Acquisitions and Operational Efficiency - H R L Morrison & Co
Board of Directors

Mark Tume

TITLE
Chairman
COMPENSATION
NZ$200K
TENURE
5.1 yrs

Marko Bogoievski

TITLE
CEO & Director
COMPENSATION
NZ$110K
AGE
52
TENURE
9.8 yrs

Peter Coman

TITLE
Head-Property & Social Infra-H R L Morrison & Co & Director-Infratil Infrastructure Property Ltd

Jason Boyes

TITLE
Head - Legal
AGE
73

Will Smales

TITLE
Head - Pvt Markets Investm Activity - H R L Morrison & Co

Paul Newfield

TITLE
Chief Investment Officer of H.R.L. Morrison & Co. and Director of Tilt Renewables

David McKinnon

TITLE
Head of Social Infrastructure - HRL Morrison & Co and Director-ANU Student Accommodation Concession

Vimal Vallabh

TITLE
Head - Energy Team - H R L Morrison & Co

Mark Mudie

TITLE
Head of Social Infrastructure - HRL Morrison & Co and Director-ANU Student Accommodation Concession

Paul Ridley-Smith

TITLE
Chair of Trustpower
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 ($) Value ($)
02. Apr 18 Buy Paul Gough Individual 29. Mar 18 29. Mar 18 159,000 $2.24 $356,543
05. Feb 18 Buy Paul Newfield Individual 31. Jan 18 31. Jan 18 1,938 $1.47 $2,847
10. Dec 17 Sell Capital Research and Management Company Company 07. Dec 17 07. Dec 17 -3,020,373 $2.27 $-6,864,954
10. Dec 17 Buy Capital Research and Management Company Company 07. Dec 17 07. Dec 17 18,997 $2.27 $43,048
X
Management checks
We assess Infratil'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. Infratil 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

External News
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Simply Wall St News

Company Info

Map
Description

Infratil Limited owns and operates infrastructure and utility businesses and investments in New Zealand, Australia, and the United States. It operates through seven segments: Trustpower, Tilt Renewables, Wellington International Airport, NZ Bus, Perth Energy, Associate Companies, and Other. The company generates electricity from hydro and wind farms, as well as offers retailing, electricity, natural gas, bottled LNG, and telecommunication services. It also supplies power to commercial and industrial customers; and provides bus transportation services, as well as snapper services to public transport agencies. In addition, the company engages in the development of utility-scale wind and solar generation throughout North America; and the provision of outsourced data center services to government and commercial entities. Further, it owns and manages a portfolio of commercial real estate properties; operates retirement living units and apartments; and provides student accommodation and social infrastructure services. The company owns and operates 22 hydro power stations with a total installed capacity of 516MW; and has 280,000 electricity customer connections, 31,500 gas customer connections, and 65,000 telecommunications customer connections. It also has 307 operating turbines across 7 wind farms with a total installed capacity of 582MW, as well as approximately 1000 buses and 7 depots in Auckland and Wellington regions. The company was incorporated in 1994 and is based in Wellington, New Zealand.

Details
Name: Infratil Limited
IFUU.F
Exchange: OTCPK
Founded: 1994
NZ$1,343,343,789
559,278,166
Website: http://infratil.com
Address: Infratil Limited
5 Market Lane,
PO Box 320,
Wellington,
6140,
New Zealand
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NZSE IFT Ordinary Shares New Zealand Stock Exchange NZ NZD 28. Nov 1994
OTCPK IFUU.F Ordinary Shares Pink Sheets LLC US USD 28. Nov 1994
ASX IFT Ordinary Shares Australian Securities Exchange AU AUD 28. Nov 1994
Number of employees
Current staff
Staff numbers
3,482
Infratil employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/24 21:25
End of day share price update: 2018/08/27 00:00
Last estimates confirmation: 2018/11/18
Last earnings filing: 2018/11/13
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


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.