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Kelly Partners Group Holdings

ASX:KPG
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KPG
ASX
A$43M
Market Cap
  1. Home
  2. AU
  3. Commercial Services
Company description

Kelly Partners Group Holdings Limited provides chartered accounting and other professional services to private businesses and clients, owners, and families in Australia. The last earnings update was 92 days ago. More info.


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KPG Share Price and Events
7 Day Returns
-2.6%
ASX:KPG
0.4%
AU Professional Services
-0.1%
AU Market
1 Year Returns
-20.4%
ASX:KPG
20.6%
AU Professional Services
16.5%
AU Market
KPG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kelly Partners Group Holdings (KPG) -2.6% 4.9% 8.5% -20.4% - -
AU Professional Services 0.4% 3% 7.6% 20.6% 37.9% 39.2%
AU Market -0.1% 1.5% 3.5% 16.5% 21.9% 20.6%
1 Year Return vs Industry and Market
  • KPG underperformed the Professional Services industry which returned 20.6% over the past year.
  • KPG underperformed the Market in Australia which returned 16.5% over the past year.
Price Volatility
KPG
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Kelly Partners Group Holdings undervalued based on future cash flows and its price relative to the stock market?

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

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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kelly Partners Group Holdings.

ASX:KPG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.6%
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:KPG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.828 (1 + (1- 30%) (42.96%))
1.051
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.051 * 5.96%)
8.58%

Discounted Cash Flow Calculation for ASX:KPG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kelly Partners Group Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ASX:KPG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 8.58%)
2020 9.73 Est @ 15.28% 8.96
2021 10.84 Est @ 11.39% 9.20
2022 11.78 Est @ 8.67% 9.20
2023 12.58 Est @ 6.76% 9.05
2024 13.26 Est @ 5.43% 8.79
2025 13.86 Est @ 4.49% 8.46
2026 14.39 Est @ 3.84% 8.09
2027 14.87 Est @ 3.38% 7.70
2028 15.33 Est @ 3.06% 7.31
2029 15.76 Est @ 2.84% 6.92
Present value of next 10 years cash flows A$83.00
ASX:KPG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$15.76 × (1 + 2.31%) ÷ (8.58% – 2.31%)
A$257.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$257.43 ÷ (1 + 8.58%)10
A$113.05
ASX:KPG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$83.00 + A$113.05
A$196.05
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$196.05 / 45.40
A$4.32
ASX:KPG Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$4.32
Current discount Discount to share price of A$0.96
= -1 x (A$0.96 - A$4.32) / A$4.32
77.9%

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

Current Discount
Amount off the current price Kelly Partners Group Holdings is available for.
Intrinsic value
>50%
Share price is A$0.96 vs Future cash flow value of A$4.32
Current Discount Checks
For Kelly Partners Group Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kelly Partners Group Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kelly Partners Group Holdings's share price is below the future cash flow value, and 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 Kelly Partners Group Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kelly Partners Group Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:KPG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.05
ASX:KPG Share Price ** ASX (2019-11-18) in AUD A$0.96
Australia Professional Services Industry PE Ratio Median Figure of 10 Publicly-Listed Professional Services Companies 21.51x
Australia Market PE Ratio Median Figure of 519 Publicly-Listed Companies 18.7x

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

** Primary Listing of Kelly Partners Group Holdings.

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

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

= 0.96 ÷ 0.05

17.84x

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

  • Kelly Partners Group Holdings is good value based on earnings compared to the AU Professional Services industry average.
  • Kelly Partners Group Holdings is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Kelly Partners Group Holdings's expected growth come at a high price?
Raw Data
ASX:KPG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia Professional Services Industry PEG Ratio Median Figure of 7 Publicly-Listed Professional Services Companies 1.94x
Australia Market PEG Ratio Median Figure of 347 Publicly-Listed Companies 1.6x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Kelly Partners Group Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kelly Partners Group Holdings's assets?
Raw Data
ASX:KPG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$0.34
ASX:KPG Share Price * ASX (2019-11-18) in AUD A$0.96
Australia Professional Services Industry PB Ratio Median Figure of 21 Publicly-Listed Professional Services Companies 2.08x
Australia Market PB Ratio Median Figure of 1,584 Publicly-Listed Companies 1.75x
ASX:KPG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.96 ÷ 0.34

2.83x

* Primary Listing of Kelly Partners Group Holdings.

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

  • Kelly Partners Group Holdings is overvalued based on assets compared to the AU Professional Services industry average.
X
Value checks
We assess Kelly Partners Group Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services 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 Professional Services industry average (and greater than 0)? (1 check)
  5. Kelly Partners Group Holdings has a total score of 4/6, 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 Kelly Partners Group Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Kelly Partners Group Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
15.5%
Expected Professional Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kelly Partners Group Holdings expected to grow at an attractive rate?
  • Unable to compare Kelly Partners Group Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Kelly Partners Group Holdings's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare Kelly Partners Group Holdings's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:KPG Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 15.5%
Australia Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 9.8%
Australia Market Earnings Growth Rate Market Cap Weighted Average 9.7%
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:KPG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:KPG Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:KPG Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 40 10 2
2019-03-31 40 9 3
2018-12-31 40 9 4
2018-09-30 40 8 4
2018-06-30 39 7 4
2018-03-31 38 7 1
2017-12-31 36 7 -2
2017-09-30 33 7 -2
2017-06-30 30 7 -3
2017-03-31 26 5 -1
2016-12-31 23 4 1
2016-09-30 22 4 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Kelly Partners Group Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Kelly Partners Group Holdings is high growth as no revenue estimate data is available.
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:KPG 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 0 Analyst Estimates (S&P Global) See Below

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

ASX:KPG Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:KPG Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.05
2019-03-31 0.08
2018-12-31 0.10
2018-09-30 0.10
2018-06-30 0.10
2018-03-31 0.03
2017-12-31 -0.05
2017-09-30 -0.07
2017-06-30 -0.08
2017-03-31 -0.03
2016-12-31 0.02
2016-09-30 0.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Kelly Partners Group Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Kelly Partners Group Holdings is trading at Kelly Partners Group Holdings'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Kelly Partners Group Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Commercial Services companies here
  3. Kelly Partners Group Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Kelly Partners Group Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia 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.
Kelly Partners Group Holdings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has Kelly Partners Group Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kelly Partners Group Holdings's growth in the last year to its industry (Professional Services).
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.
  • Kelly Partners Group Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Kelly Partners Group Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kelly Partners Group Holdings's 1-year earnings growth is negative, it can't be compared to the AU Professional Services industry average.
Earnings and Revenue History
Kelly Partners Group Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

ASX:KPG 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 39.98 2.44 2.50
2019-03-31 39.97 3.44 2.46
2018-12-31 39.97 4.44 2.41
2018-09-30 39.72 4.41 2.35
2018-06-30 39.47 4.38 2.29
2018-03-31 37.56 1.16 2.51
2017-12-31 35.66 -2.06 2.74
2017-09-30 32.93 -2.43 2.44
2017-06-30 30.20 -2.79 2.14
2017-03-31 26.49 -1.00 2.07
2016-12-31 22.77 0.79 2.00
2016-09-30 21.92 1.40 1.91
2016-06-30 21.07 2.01 1.81
2015-06-30 20.27 1.39 4.98
2014-06-30 17.24 0.88 5.20
2013-06-30 13.06 1.04 3.87

*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.
  • Kelly Partners Group Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Kelly Partners Group Holdings used its assets less efficiently than the AU Professional Services industry average last year based on Return on Assets.
  • Kelly Partners Group Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kelly Partners Group Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services 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.
Kelly Partners Group Holdings 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 Kelly Partners Group Holdings's financial health and their level of debt?

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

The boxes below represent the relative size of what makes up Kelly Partners Group Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kelly Partners Group Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kelly Partners Group Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kelly Partners Group Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.8x 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.
Raw Data

All data from Kelly Partners Group Holdings Company Filings, last reported 4 months ago.

ASX:KPG Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 24.63 18.63 3.96
2019-03-31 24.63 18.63 3.96
2018-12-31 22.57 18.71 3.51
2018-09-30 22.57 18.71 3.51
2018-06-30 24.12 14.77 3.41
2018-03-31 24.12 14.77 3.41
2017-12-31 20.65 14.29 3.06
2017-09-30 20.65 14.29 3.06
2017-06-30 19.83 14.96 3.21
2017-03-31 19.83 14.96 3.21
2016-12-31 7.70 23.36 7.17
2016-09-30 7.70 23.36 7.17
2016-06-30 9.33 13.26 0.66
2015-06-30 10.68 11.54 1.14
2014-06-30 8.60 12.87 0.61
2013-06-30 5.03 8.47 0.35
  • Kelly Partners Group Holdings's level of debt (75.6%) 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 (149.6% vs 75.6% today).
  • Debt is well covered by operating cash flow (53.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.1x coverage).
X
Financial health checks
We assess Kelly Partners Group Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kelly Partners Group Holdings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Kelly Partners Group Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.07%
Current annual income from Kelly Partners Group Holdings dividends.
If you bought A$2,000 of Kelly Partners Group Holdings shares you are expected to receive A$101 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?
  • Kelly Partners Group Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.37%).
  • Kelly Partners Group Holdings's dividend is below the markets top 25% of dividend payers in Australia (5.62%).
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:KPG 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 0 Analyst Estimates (S&P Global) See Below
Australia Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 2.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 390 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:KPG Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
ASX:KPG Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-09-02 0.048 5.160
2019-05-28 0.044 4.986
2019-03-13 0.044 5.364
2018-12-17 0.044 4.220
2018-10-15 0.044 3.724
2018-07-02 0.040 3.148
2018-05-01 0.040 3.117
2018-02-05 0.040 2.520
2017-11-01 0.040 2.411

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

  • Whilst dividend payments have been stable, Kelly Partners Group Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Kelly Partners Group Holdings only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Kelly Partners Group Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Kelly Partners Group Holdings'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 Kelly Partners Group Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kelly Partners Group Holdings has a total score of 2/6, 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 Kelly Partners Group Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brett Kelly
COMPENSATION A$434,390
CEO Bio

Mr. Brett Kelly, BBus,CA,MTax,DipFS,RTA,JP is Founder at Kelly Partners Group Holdings Limited. Mr. Kelly serves as the Chief Executive Officer and Executive Chairman of Kelly Partners Group Holdings Pty Ltd. Mr. Kelly serves as the Executive Chairman, CEO and Founder at Kelly Partners Capital Pty Limited. Mr. Kelly has more than 20 years commercial and professional accountancy experience. He specializes in Property, Commercial Transactions, Structuring, Strategy and Valuation. He was employed at Price Waterhouse for five years and worked in senior management roles across Audit, Business Services and Corporate Finance. Mr. Kelly holds a Degree in Business and Master's Degree in Taxation. His qualifications include DIP.FS FP, FTIA and JP.

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

Average tenure of the Kelly Partners Group Holdings management team in years:

1.9
Average Tenure
  • The average tenure for the Kelly Partners Group Holdings management team is less than 2 years, this suggests a new team.
Management Team

Brett Kelly

TITLE
Founder
COMPENSATION
A$434K

Justin Sweeting

TITLE
Deputy Chief Financial Officer
TENURE
0.2 yrs

Leanne Edmonds

TITLE
Head of People
TENURE
1.9 yrs

Paul Kuchta

TITLE
Executive Director

David Franks

TITLE
Company Secretary
AGE
49
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure of the Kelly Partners Group Holdings board of directors in years:

2.5
Average Tenure
  • The average tenure for the Kelly Partners Group Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Brett Kelly

TITLE
Founder
COMPENSATION
A$434K

Steve Rouvray

TITLE
Independent Deputy Chairman
COMPENSATION
A$30K
TENURE
2.8 yrs

Paul Kuchta

TITLE
Executive Director
TENURE
2.5 yrs

Ada Wing Poon

TITLE
Director
TENURE
0.2 yrs

Ryan MacNamee

TITLE
Independent Non Executive Director
COMPENSATION
A$30K
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
27. Sep 19 Sell Ellerston Capital Limited Company 13. Oct 17 26. Sep 19 -870,346 A$1.20 A$-1,046,800
27. Sep 19 Buy Ellerston Capital Limited Company 13. Nov 17 29. Nov 18 59,230 A$1.42 A$83,996
10. Mar 19 Buy Brett Kelly Individual 05. Mar 19 07. Mar 19 23,000 A$0.88 A$19,999
06. Mar 19 Buy Paul Kuchta Individual 06. Mar 19 06. Mar 19 11,005 A$0.87 A$9,519
X
Management checks
We assess Kelly Partners Group Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kelly Partners Group Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

These Factors Make Kelly Partners Group Holdings Limited (ASX:KPG) An Interesting Investment

In the case of Kelly Partners Group Holdings Limited (ASX:KPG), there's is a financially-healthy company with a excellent growth outlook, not yet reflected in the share price. … If you're interested in understanding beyond my broad commentary, take a look at the report on Kelly Partners Group Holdings here.High growth potential with excellent balance sheet One reason why investors are attracted to KPG is its earnings growth potential in the near future of 34% which is expected to flow into an impressive return on equity of 65% over the next couple of years. … ASX:KPG Historical Debt, September 1st 2019 Next Steps: For Kelly Partners Group Holdings, I've compiled three essential factors you should further research: Historical Performance: What has KPG's returns been like over the past?

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Should You Like Kelly Partners Group Holdings Limited’s (ASX:KPG) High Return On Capital Employed?

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Kelly Partners Group Holdings: 0.25 = AU$9.9m ÷ (AU$50m - AU$11m) (Based on the trailing twelve months to June 2019.) Therefore, Kelly Partners Group Holdings has an ROCE of 25%. … Do Kelly Partners Group Holdings's Current Liabilities Skew Its ROCE? … The Bottom Line On Kelly Partners Group Holdings's ROCE Low current liabilities and high ROCE is a good combination, making Kelly Partners Group Holdings look quite interesting.

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Kelly Partners Group Holdings Limited's (ASX:KPG) 4.6% Dividend Yield Looks Pretty Interesting

Could Kelly Partners Group Holdings Limited (ASX:KPG) be an attractive dividend share to own for the long haul? … Kelly Partners Group Holdings pays a 4.6% dividend yield, and has been paying dividends for the past two years. … Of the free cash flow it generated last year, Kelly Partners Group Holdings paid out 33% as dividends, suggesting the dividend is affordable.

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Before You Buy Kelly Partners Group Holdings Limited (ASX:KPG), Consider Its Volatility

Anyone researching Kelly Partners Group Holdings Limited (ASX:KPG) might want to consider the historical volatility of the share price. … This is reasonably close to the market beta of 1, so the stock has in the past displayed similar levels of volatility to the overall market. … What this means for you: Since Kelly Partners Group Holdings has a beta close to one, it will probably show a positive return when the market is moving up, based on history.

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Is Kelly Partners Group Holdings Limited's (ASX:KPG) Balance Sheet Strong Enough To Weather A Storm?

Moreover, KPG has produced cash from operations of AU$8.9m over the same time period, leading to an operating cash to total debt ratio of 47%, indicating that KPG’s current level of operating cash is high enough to cover debt. … At the current liabilities level of AU$11m, it seems that the business has been able to meet these obligations given the level of current assets of AU$13m, with a current ratio of 1.23x. … Next Steps: Although KPG’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

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What Type Of Shareholder Owns Kelly Partners Group Holdings Limited's (ASX:KPG)?

The big shareholder groups in Kelly Partners Group Holdings Limited (ASX:KPG) have power over the company. … View our latest analysis for Kelly Partners Group Holdings ASX:KPG Ownership Summary, May 15th 2019 What Does The Institutional Ownership Tell Us About Kelly Partners Group Holdings? … Insider Ownership Of Kelly Partners Group Holdings The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

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Kelly Partners Group Holdings Limited (ASX:KPG) Earns A Nice Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

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Is Kelly Partners Group Holdings Limited (ASX:KPG) A High Quality Stock To Own?

We'll use ROE to examine Kelly Partners Group Holdings Limited (ASX:KPG), by way of a worked example. … Over the last twelve months Kelly Partners Group Holdings has recorded a ROE of 44%. … Check out our latest analysis for Kelly Partners Group Holdings?

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Is Kelly Partners Group Holdings Limited (ASX:KPG) A Smart Pick For Income Investors?

Kelly Partners Group Holdings Limited (ASX:KPG) has begun paying dividends recently. … Does Kelly Partners Group Holdings tick all the boxes of a great dividend stock? … See our latest analysis for Kelly Partners Group Holdings

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An Examination Of Kelly Partners Group Holdings Limited (ASX:KPG)

Attractive stocks have exceptional fundamentals. … In the case of Kelly Partners Group Holdings Limited (ASX:KPG), there's

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Company Info

Description

Kelly Partners Group Holdings Limited provides chartered accounting and other professional services to private businesses and clients, owners, and families in Australia. It offers audit; business, and personal and investment structures; cloud accounting; corporate and management; estate planning and management; family law assistance; accounting; immigration support; outsourced CFO; payroll; philanthropic; strata accounting and tax; ATO investigation and dispute; and taxation advice and compliance services. The company also provides tax services, including ATO audits, disclosures, and investigations and tax disputes; capital inflows and outflows; mergers and acquisitions; funds management and managed investment trust; structuring, negotiation, and tax legal advices; international tax for inbound and outbound investment and cross-border transactions; tax structuring; and trust structures and joint ventures. Its private wealth services comprises financial advice execution and ongoing administration of wealth protection and strategies; asset allocation strategies between asset classes, currencies, geographies, and generations; private banking assistances; and investment research and insights, as well as property; insurance; and finance services. The company’s estate office services include assessment and ongoing performance reviews of investment managers; administrative functions, such as bookkeeping, bill paying, and mail management; financial oversight of illiquid financial assets; monthly report of family/estate activities; critical document management; daily management of liquid financial assets; facilitation of estate planning; family governance structures, education, and intergenerational planning; and philanthropy advisory. In addition, it provides corporate advisory services. The company was founded in 2006 and is headquartered in North Sydney, Australia.

Details
Name: Kelly Partners Group Holdings Limited
KPG
Exchange: ASX
Founded: 2006
A$43,357,000
45,400,000
Website: http://kellypartnersgroup.com.au
Address: Kelly Partners Group Holdings Limited
32 Walker Street,
Level 8,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX KPG Ordinary Shares Australian Securities Exchange AU AUD 21. Jun 2017
CHIA KPG Ordinary Shares Chi-X Australia AU AUD 21. Jun 2017
Number of employees
Current staff
Staff numbers
0
Kelly Partners Group Holdings employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 10:47
End of day share price update: 2019/11/18 00:00
Last estimates confirmation: 2019/08/19
Last earnings filing: 2019/08/19
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.