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MyState

ASX:MYS
Snowflake Description

6 star dividend payer with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MYS
ASX
A$435M
Market Cap
  1. Home
  2. AU
  3. Banks
Company description

MyState Limited, through its subsidiaries, provides a range of financial products and services in Australia. The last earnings update was 85 days ago. More info.


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MYS Share Price and Events
7 Day Returns
0.4%
ASX:MYS
-3.3%
AU Mortgage
0%
AU Market
1 Year Returns
5.1%
ASX:MYS
42.3%
AU Mortgage
15.3%
AU Market
MYS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MyState (MYS) 0.4% 3.5% 5.1% 5.1% 12.3% 3%
AU Mortgage -3.3% 4.5% 21% 42.3% 19.4% -11.2%
AU Market 0% 0.5% 4.7% 15.3% 21.6% 20.7%
1 Year Return vs Industry and Market
  • MYS underperformed the Mortgage industry which returned 42.3% over the past year.
  • MYS underperformed the Market in Australia which returned 15.3% over the past year.
Price Volatility
MYS
Industry
5yr Volatility vs Market

MYS Value

 Is MyState 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 MyState 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 MyState.

ASX:MYS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= A$3.51 * 9.5%
A$0.33
Book Value of Equity per Share Median Book Value from the past 5 years. A$3.51
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

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 ASX:MYS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.835 (1 + (1- 30%) (316.03%))
1.07
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.07 * 5.96%)
8.69%

Discounted Cash Flow Calculation for ASX:MYS using Excess Returns Model Model

The calculations below outline how an intrinsic value for MyState is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ASX:MYS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.5% – 8.69%) * A$3.51)
A$0.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.03 / (8.69% - 2.31%)
A$0.45
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$3.51 + A$0.45
A$3.96
ASX:MYS Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$3.96
Current discount Discount to share price of A$4.76
= -1 x (A$4.76 - A$3.96) / A$3.96
-20.1%

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

  • The current share price of MyState 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 MyState's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MyState's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:MYS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.33
ASX:MYS Share Price ** ASX (2019-11-15) in AUD A$4.76
Global Mortgage Industry PE Ratio Median Figure of 174 Publicly-Listed Mortgage Companies 13.93x
Australia Market PE Ratio Median Figure of 519 Publicly-Listed Companies 18.45x

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

** Primary Listing of MyState.

ASX:MYS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:MYS Share Price ÷ EPS (both in AUD)

= 4.76 ÷ 0.33

14.49x

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

  • MyState is overvalued based on earnings compared to the Global Mortgage industry average.
  • MyState is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does MyState's expected growth come at a high price?
Raw Data
ASX:MYS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
4.9%per year
Global Mortgage Industry PEG Ratio Median Figure of 73 Publicly-Listed Mortgage Companies 1.02x
Australia Market PEG Ratio Median Figure of 346 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

ASX:MYS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.49x ÷ 4.9%

2.95x

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

  • MyState is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MyState's assets?
Raw Data
ASX:MYS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$3.60
ASX:MYS Share Price * ASX (2019-11-15) in AUD A$4.76
Australia Mortgage Industry PB Ratio Median Figure of 6 Publicly-Listed Mortgage Companies 0.99x
Australia Market PB Ratio Median Figure of 1,585 Publicly-Listed Companies 1.71x
ASX:MYS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:MYS Share Price ÷ Book Value per Share (both in AUD)

= 4.76 ÷ 3.60

1.32x

* Primary Listing of MyState.

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

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

MYS Future Performance

 How is MyState expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MyState expected to grow at an attractive rate?
  • MyState's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • MyState's earnings growth is positive but not above the Australia market average.
  • MyState's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:MYS Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:MYS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 4.9%
ASX:MYS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.2%
Global Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 7.5%
Global Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Australia Market Earnings Growth Rate Market Cap Weighted Average 9.8%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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
ASX:MYS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:MYS Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 141 35 1
2022-06-30 139 36 2
2021-06-30 132 34 3
2020-06-30 128 32 3
2019-11-15
ASX:MYS Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 121 50 30
2018-12-31 124 48 30
2018-09-30 125 49 31
2018-06-30 120 50 31
2018-03-31 125 49 31
2017-12-31 125 48 31
2017-09-30 125 44 30
2017-06-30 124 41 30
2017-03-31 124 52 29
2016-12-31 124 63 28
2016-09-30 123 53 28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MyState's earnings are expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
  • MyState's revenue is expected to grow by 4.2% 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
ASX:MYS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from MyState Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MYS Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30
2022-06-30 0.39 0.40 0.37 2.00
2021-06-30 0.37 0.38 0.36 3.00
2020-06-30 0.35 0.36 0.35 3.00
2019-11-15
ASX:MYS Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.33
2018-12-31 0.33
2018-09-30 0.34
2018-06-30 0.35
2018-03-31 0.35
2017-12-31 0.34
2017-09-30 0.34
2017-06-30 0.34
2017-03-31 0.33
2016-12-31 0.32
2016-09-30 0.32

*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.
  • MyState is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess MyState'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 Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global 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.
MyState has a total score of 2/6, 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.

MYS Past Performance

  How has MyState 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 MyState's growth in the last year to its industry (Mortgage).
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.
  • MyState's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • MyState's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • MyState's 1-year earnings growth is negative, it can't be compared to the Global Mortgage industry average.
Earnings and Revenue History
MyState'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 MyState Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:MYS Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 120.62 29.78 75.05
2018-12-31 124.38 30.03 78.77
2018-09-30 125.13 30.75 78.56
2018-06-30 120.47 31.26 73.23
2018-03-31 124.72 31.07 77.64
2017-12-31 124.93 30.68 78.31
2017-09-30 124.67 30.38 78.92
2017-06-30 124.40 30.08 79.53
2017-03-31 124.00 29.26 79.15
2016-12-31 123.60 28.44 78.77
2016-09-30 122.90 28.39 77.86
2016-06-30 122.20 28.33 76.95
2016-03-31 123.83 30.54 76.52
2015-12-31 125.45 32.74 76.08
2015-09-30 124.98 32.63 75.83
2015-06-30 124.51 32.51 75.57
2015-03-31 121.23 31.05 74.51
2014-12-31 117.94 29.58 73.45
2014-09-30 118.17 29.58 73.68
2014-06-30 118.40 29.57 73.91
2014-03-31 118.75 29.16 74.75
2013-12-31 119.10 28.75 75.59
2013-09-30 119.91 28.60 76.55
2013-06-30 120.72 28.46 77.50
2013-03-31 121.62 27.59 79.54
2012-12-31 122.53 26.72 81.57

*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.
  • MyState has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MyState used its assets less efficiently than the Global Mortgage industry average last year based on Return on Assets.
  • Unable to establish if MyState improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess MyState'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 Mortgage 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.
MyState has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

MYS Health

 How is MyState's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of MyState'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.
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 MyState Company Filings, last reported 4 months ago.

ASX:MYS Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 327.50 1,375.45 114.90
2018-12-31 322.40 1,198.57 85.60
2018-09-30 322.40 1,198.57 85.60
2018-06-30 320.66 1,204.81 103.15
2018-03-31 320.66 1,209.83 103.15
2017-12-31 316.28 990.23 52.80
2017-09-30 316.28 990.23 52.80
2017-06-30 310.90 1,031.14 99.66
2017-03-31 310.90 1,031.14 99.66
2016-12-31 301.37 942.26 96.76
2016-09-30 301.37 942.26 96.76
2016-06-30 299.63 836.52 80.15
2016-03-31 299.63 836.52 80.15
2015-12-31 295.91 827.31 93.26
2015-09-30 295.91 827.31 93.26
2015-06-30 293.14 833.45 66.25
2015-03-31 293.14 833.45 66.25
2014-12-31 288.16 1,145.83 88.39
2014-09-30 288.16 1,145.83 88.39
2014-06-30 285.65 569.51 215.93
2014-03-31 285.65 569.51 215.93
2013-12-31 282.61 976.64 74.01
2013-09-30 282.61 976.64 74.01
2013-06-30 279.71 983.79 66.84
2013-03-31 279.71 983.79 66.84
2012-12-31 276.62 968.66 58.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • MyState has an acceptable proportion of non-loan assets held.
  • MyState's liabilities are made up of primarily low risk sources of funding.
  • MyState has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • MyState's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • MyState has a sufficient allowance for bad loans.
  • MyState has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess MyState'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. MyState 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.

MYS Dividends

 What is MyState'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
6.04%
Current annual income from MyState dividends. Estimated to be 6.56% next year.
If you bought A$2,000 of MyState shares you are expected to receive A$121 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?
  • MyState's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.36%).
  • MyState's dividend is above the markets top 25% of dividend payers in Australia (5.58%).
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
ASX:MYS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Global Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 131 Stocks 2.5%
Australia Market Average Dividend Yield Market Cap Weighted Average of 391 Stocks 4.1%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.4%
Australia Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

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

ASX:MYS Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.33 1.00
2022-06-30 0.32 2.00
2021-06-30 0.31 2.00
2020-06-30 0.30 2.00
2019-11-15
ASX:MYS Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-08-22 0.288 6.213
2019-02-21 0.288 6.511
2018-08-16 0.288 6.223
2017-08-17 0.285 5.896
2017-02-16 0.285 6.077
2016-08-22 0.285 6.751
2015-08-20 0.285 6.660
2015-02-19 0.285 5.726
2014-08-21 0.290 6.134
2014-02-27 0.280 6.025
2013-08-27 0.280 5.906
2013-02-27 0.280 6.284
2012-08-29 0.280 7.774
2011-08-31 0.270 8.041
2010-08-24 0.250 6.998
2010-02-23 0.200 6.287
2009-09-22 0.100 3.624

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 MyState's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess MyState's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 MyState afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MyState has a total score of 6/6, see the detailed checks below.


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

MYS Management

 What is the CEO of MyState'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
Melos Sulicich
COMPENSATION A$754,299
TENURE AS CEO 5.3 years
CEO Bio

Mr. Melos Anthony Sulicich, BBus(Mktg), GAICD, SA FIN serves as Chief Executive Officer and Managing Director at MyState Bank Limited. Mr. Sulicich has been the Chief Executive Officer, Managing Director and Executive Director at MyState Limited since July 1, 2014. He served as General Manager of Adsteam Australasia at Adsteam Marine Pty. Ltd. since September 29, 2003. He joined Adsteam Marine in September 2003 to lead and manage the Australian and Pacific towage business. He was previously Group General Manager – Marketing with Mayne Group and has held marketing and management positions with Colonial and Shell. He served as Group General Manager of Cleaning Services at Spotless Group Holdings Limited from July 23, 2007 to August 31, 2008. He has significant domestic and international experience across a broad range of sectors including senior roles in financial services, petroleum, healthcare, logistics and industrial services. Mr. Sulicich served as the Chief Executive Officer of RAMS Financial Group and General Manager of Mortgage Broker Distribution with Westpac from 2008 to 2013.

CEO Compensation
  • Melos's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Melos's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the MyState management team in years:

1.8
Average Tenure
  • The average tenure for the MyState management team is less than 2 years, this suggests a new team.
Management Team

Melos Sulicich

TITLE
MD, CEO & Director
COMPENSATION
A$754K
TENURE
5.3 yrs

Paul Moss

TITLE
General Manager of Technology
COMPENSATION
A$384K
TENURE
4.5 yrs

Heather McGovern

TITLE
General Manager of Digital & Marketing
COMPENSATION
A$312K
TENURE
0.7 yrs

Janelle Whittle

TITLE
General Manager of People & Culture
COMPENSATION
A$302K
TENURE
1.8 yrs

Mandy Khanna

TITLE
Chief Risk Officer
COMPENSATION
A$417K
TENURE
3.9 yrs

Craig Mowll

TITLE
General Manager of Wealth Management
COMPENSATION
A$393K
TENURE
1.3 yrs

Anthony MacRae

TITLE
General Manager of Banking
COMPENSATION
A$379K
TENURE
0.8 yrs

Gary Dickson

TITLE
Interim Chief Financial Officer
TENURE
0.1 yrs

Greg Slade

TITLE
Investor Relation Professional

Scott Lukianenko

TITLE
Company Secretary
COMPENSATION
A$312K
TENURE
6 yrs
Board of Directors Tenure

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

4.1
Average Tenure
65.5
Average Age
  • The tenure for the MyState board of directors is about average.
Board of Directors

Miles Hampton

TITLE
Independent Chairman of the Board
COMPENSATION
A$220K
AGE
67
TENURE
6.1 yrs

Melos Sulicich

TITLE
MD, CEO & Director
COMPENSATION
A$754K
TENURE
5.3 yrs

Robert Gordon

TITLE
Independent Non-Executive Director
COMPENSATION
A$113K
TENURE
10.8 yrs

Stephen Lonie

TITLE
Independent Non-Executive Director
COMPENSATION
A$111K
AGE
67
TENURE
7.9 yrs

Andrea Waters

TITLE
Independent Non-Executive Director
COMPENSATION
A$108K
TENURE
2.1 yrs

Sibylle Krieger

TITLE
Independent Non-Executive Director
COMPENSATION
A$106K
AGE
61
TENURE
2.9 yrs

Warren Lee

TITLE
Independent Non-Executive Director
COMPENSATION
A$103K
TENURE
2.1 yrs

Vaughn Richtor

TITLE
Independent Non-Executive Director
AGE
64
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by MyState individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
25. Oct 19 Buy Miles Hampton Individual 25. Oct 19 25. Oct 19 4,666 A$4.64 A$21,670
19. Mar 19 Buy Warren Lee Individual 15. Mar 19 15. Mar 19 11,972 A$4.43 A$53,016
28. Feb 19 Buy Sibylle Krieger Individual 28. Feb 19 28. Feb 19 8,180 A$4.70 A$38,446
13. Dec 18 Buy Robert Gordon Individual 11. Dec 18 11. Dec 18 5,000 A$4.35 A$21,732
X
Management checks
We assess MyState'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. MyState 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.

MYS News

Simply Wall St News

Why You Should Leave MyState Limited (ASX:MYS)'s Upcoming Dividend On The Shelf

MyState's next dividend payment will be AU$0.14 per share, on the back of last year when the company paid a total of AU$0.29 to shareholders. … It paid out 88% of its earnings as dividends last year, which is not unreasonable, but limits reinvestment in the business and leaves the dividend vulnerable to a business downturn. … It's better than seeing them drop, certainly, but over the long term, all of the best dividend stocks are able to meaningfully grow their earnings per share.

Simply Wall St -

Could MyState Limited (ASX:MYS) Have The Makings Of Another Dividend Aristocrat?

Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. While there may be fluctuations in the past , MyState's earnings per share have basically not grown from where they were five years ago. Flat earnings per share are acceptable for a time, but over the long term, the purchasing power of the company's dividends could be eroded by inflation. Earnings are not growing quickly at all, and the company is paying out most of its profit as dividends. That's fine as far as it goes, but we're less enthusiastic as this often signals that the dividend is likely to grow slower in the future. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … It hasn't demonstrated a strong ability to grow earnings per share, but we like that the dividend payments have been fairly consistent. … Companies that are growing earnings tend to be the best dividend stocks over the long term.

Simply Wall St -

MyState Limited (ASX:MYS) Insiders Increased Their Holdings

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for MyState MyState Insider Transactions Over The Last Year Over the last year, we can see that the biggest insider purchase was by Independent Non-Executive Director Andrea Waters for AU$93k worth of shares, at about AU$4.67 per share. … MyState insiders may have bought shares in the last year, but they didn't sell any. … ASX:MYS Recent Insider Trading, August 7th 2019 Insider Ownership of MyState I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders.

Simply Wall St -

MyState Limited (ASX:MYS) Should Be In Your Dividend Portfolio, Here's Why

More specifically: It is paying an annual yield above 75% of dividend payers It has paid dividend every year without dramatically reducing payout in the past Its has increased its dividend per share amount over the past It can afford to pay the current rate of dividends from its earnings It is able to continue to payout at the current rate in the future High Yield And Dependable MyState currently yields 6.2%, which is high for Mortgage stocks. … ASX:MYS Historical Dividend Yield, July 18th 2019 If there is one thing that you want to be reliable in your life, it's dividend stocks and their constant income stream. … Next Steps: There aren't many other stocks out there with the same track record as MyState, so I would certainly recommend further examining the stock if its dividend characteristics appeal to you.

Simply Wall St -

Can We See Significant Institutional Ownership On The MyState Limited (ASX:MYS) Share Register?

See our latest analysis for MyState ASX:MYS Ownership Summary, July 2nd 2019 What Does The Institutional Ownership Tell Us About MyState? … Insider Ownership Of MyState The definition of company insiders can be subjective, and does vary between jurisdictions. … In their own names, insiders own AU$13m worth of stock in the AU$414m company.

Simply Wall St -

MyState Limited (ASX:MYS): Will The Growth Last?

For those interested in more of an analysis of the company, you can research its fundamentals here. … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of MYS's earnings growth over these next few years. … ASX:MYS Past and Future Earnings, June 6th 2019 This results in an annual growth rate of 4.4% based on the most recent earnings level of AU$31m to the final forecast of AU$35m by 2022.

Simply Wall St -

Is MyState Limited's (ASX:MYS) CEO Paid Enough Relative To Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for MyState How Does Melos Sulicich's Compensation Compare With Similar Sized Companies? … At the time of writing our data says that MyState Limited has a market cap of AU$389m, and is paying total annual CEO compensation of AU$791k.

Simply Wall St -

The MyState (ASX:MYS) Share Price Is Down 11% So Some Shareholders Are Getting Worried

Investors in MyState Limited (ASX:MYS) have tasted that bitter downside in the last year, as the share price dropped 11%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … As well as measuring the share price return, investors should also consider the total shareholder return (TSR).

Simply Wall St -

Here's How We Evaluate MyState Limited's (ASX:MYS) Dividend

A dividend paying company with growing earnings can be rewarding in the long term. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … Some simple analysis can offer a lot of insight when buying a company for its dividend, and we'll go through these below.

Simply Wall St -

Introducing MyState (ASX:MYS), The Stock That Dropped 12% In The Last Year

Investors in MyState Limited (ASX:MYS) have tasted that bitter downside in the last year, as the share price dropped 12%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … This reduction in EPS is not as bad as the 12% share price fall.

Simply Wall St -

MYS Company Info

Description

MyState Limited, through its subsidiaries, provides a range of financial products and services in Australia. It operates through two divisions, Banking and Wealth Management. The company offers banking products and services, including transactional savings accounts; fixed term deposits; insurance products; home loans; personal, overdraft, lines of credit, and commercial products; residential and business banking services; and Internet and mobile banking, savings and investment, and other services through its branch network, digital channels, and third party channels. It also provides trustee services, such as estate planning, estate and trust administration, power of attorney, and corporate trustee services. In addition, the company offers wealth management services, such as managed fund investment services. MyState Limited was founded in 2009 and is based in Hobart, Australia.

Details
Name: MyState Limited
MYS
Exchange: ASX
Founded: 2009
A$435,229,053
91,434,675
Website: http://www.mystatelimited.com.au
Address: MyState Limited
137 Harrington Street,
Level 2,
Hobart,
Tasmania, 7000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX MYS Ordinary Shares Australian Securities Exchange AU AUD 10. Sep 2009
CHIA MYS Ordinary Shares Chi-X Australia AU AUD 10. Sep 2009
Number of employees
Current staff
Staff numbers
0
MyState employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/15 10:35
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/10/25
Last earnings filing: 2019/08/22
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.