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ClearView Wealth

ASX:CVW
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CVW
ASX
A$119M
Market Cap
  1. Home
  2. AU
  3. Diversified Financials
Company description

ClearView Wealth Limited provides life insurance, wealth management, and financial advisory solutions in Australia. The last earnings update was 38 days ago. More info.


Add to Portfolio Compare Print
  • ClearView Wealth has significant price volatility in the past 3 months.
CVW Share Price and Events
7 Day Returns
-13.6%
ASX:CVW
4%
AU Diversified Financial
1.1%
AU Market
1 Year Returns
-74%
ASX:CVW
-36.5%
AU Diversified Financial
-18.9%
AU Market
CVW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ClearView Wealth (CVW) -13.6% -47.2% -60.4% -74% -86.6% -81.6%
AU Diversified Financial 4% -20.8% -30.8% -36.5% -70.2% -75.7%
AU Market 1.1% -20.8% -25% -18.9% -16% -16.4%
1 Year Return vs Industry and Market
  • CVW underperformed the Diversified Financial industry which returned -36.5% over the past year.
  • CVW underperformed the Market in Australia which returned -18.9% over the past year.
Price Volatility
CVW
Industry
5yr Volatility vs Market

CVW Value

 Is ClearView Wealth 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 ClearView Wealth 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 ClearView Wealth.

ASX:CVW 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$0.70 * 5.1%
A$0.04
Book Value of Equity per Share Median Book Value from the past 5 years. A$0.70
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year AU Government Bond Rate 1.1%

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:CVW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 1.1%
Equity Risk Premium S&P Global 5.4%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.71
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.709 (1 + (1- 30%) (28.64%))
0.9
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.08% + (0.9 * 5.44%)
5.98%

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

The calculations below outline how an intrinsic value for ClearView Wealth 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:CVW Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.1% – 5.98%) * A$0.70)
A$-0.01
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$-0.01 / (5.98% - 1.08%)
A$-0.12
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$0.70 + A$-0.12
A$0.58
ASX:CVW Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.58
Current discount Discount to share price of A$0.19
= -1 x (A$0.19 - A$0.58) / A$0.58
67%

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

Current Discount
Amount off the current price ClearView Wealth is available for.
Intrinsic value
>50%
Share price is A$0.19 vs Future cash flow value of A$0.57641
Current Discount Checks
For ClearView Wealth to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ClearView Wealth's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ClearView Wealth'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 ClearView Wealth's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ClearView Wealth's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CVW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.00
ASX:CVW Share Price ** ASX (2020-04-03) in AUD A$0.19
Global Diversified Financial Industry PE Ratio Median Figure of 307 Publicly-Listed Diversified Financial Companies 9.21x
Australia Market PE Ratio Median Figure of 515 Publicly-Listed Companies 13.28x

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

** Primary Listing of ClearView Wealth.

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

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

= 0.19 ÷ 0.00

52.68x

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

  • ClearView Wealth is overvalued based on earnings compared to the Global Diversified Financial industry average.
  • ClearView Wealth is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does ClearView Wealth's expected growth come at a high price?
Raw Data
ASX:CVW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Global Diversified Financial Industry PEG Ratio Median Figure of 56 Publicly-Listed Diversified Financial Companies 0.42x
Australia Market PEG Ratio Median Figure of 337 Publicly-Listed Companies 1.04x

*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 ClearView Wealth, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on ClearView Wealth's assets?
Raw Data
ASX:CVW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$0.72
ASX:CVW Share Price * ASX (2020-04-03) in AUD A$0.19
Australia Diversified Financial Industry PB Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 0.82x
Australia Market PB Ratio Median Figure of 1,614 Publicly-Listed Companies 1.23x
ASX:CVW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.19 ÷ 0.72

0.26x

* Primary Listing of ClearView Wealth.

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

  • ClearView Wealth is good value based on assets compared to the AU Diversified Financial industry average.
X
Value checks
We assess ClearView Wealth'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 Diversified Financial 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 Diversified Financial industry average (and greater than 0)? (1 check)
  5. ClearView Wealth has a total score of 3/6, 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.

CVW Future Performance

 How is ClearView Wealth 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 ClearView Wealth 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
99.1%
Expected Diversified Financial industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ClearView Wealth expected to grow at an attractive rate?
  • Unable to compare ClearView Wealth's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare ClearView Wealth's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare ClearView Wealth's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:CVW Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 99.1%
Australia Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average -87.1%
Australia Market Earnings Growth Rate Market Cap Weighted Average 10.1%
Australia Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:CVW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:CVW Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ASX:CVW Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 528 39 2
2019-09-30 491 -5 3
2019-06-30 454 -48 4
2019-03-31 394 -45 15
2018-12-31 335 -42 26
2018-09-30 374 -19 26
2018-06-30 413 4 27
2018-03-31 423 6 24
2017-12-31 433 8 22
2017-09-30 414 -8 18
2017-06-30 396 -25 13
2017-03-31 385 -27 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if ClearView Wealth is high growth as no earnings estimate data is available.
  • Unable to determine if ClearView Wealth 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:CVW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from ClearView Wealth Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CVW Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ASX:CVW Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.00
2019-09-30 0.00
2019-06-30 0.01
2019-03-31 0.02
2018-12-31 0.04
2018-09-30 0.04
2018-06-30 0.04
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.03
2017-06-30 0.02
2017-03-31 0.03

*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 ClearView Wealth will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether ClearView Wealth is trading at ClearView Wealth'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. ClearView Wealth'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 Diversified Financials companies here
  3. ClearView Wealth'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 ClearView Wealth'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.
ClearView Wealth 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.

CVW Past Performance

  How has ClearView Wealth 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 ClearView Wealth's growth in the last year to its industry (Diversified Financial).
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.
  • ClearView Wealth's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • ClearView Wealth's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ClearView Wealth's 1-year earnings growth is negative, it can't be compared to the Global Diversified Financial industry average.
Earnings and Revenue History
ClearView Wealth'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 ClearView Wealth Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CVW Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 527.52 2.26 213.00
2019-09-30 490.68 3.11 216.61
2019-06-30 453.84 3.96 220.21
2019-03-31 394.47 14.90 221.88
2018-12-31 335.11 25.83 223.55
2018-09-30 374.25 26.21 222.03
2018-06-30 413.40 26.60 220.51
2018-03-31 423.16 24.41 221.85
2017-12-31 432.92 22.23 223.19
2017-09-30 414.43 17.69 215.95
2017-06-30 395.94 13.15 208.72
2017-03-31 384.54 16.21 203.94
2016-12-31 373.14 19.27 199.16
2016-09-30 332.15 21.44 195.62
2016-06-30 291.16 23.62 192.07
2016-03-31 274.76 18.00 187.43
2015-12-31 258.37 12.38 182.80
2015-09-30 292.41 12.47 172.48
2015-06-30 326.46 12.57 162.16
2015-03-31 313.61 15.28 145.01
2014-12-31 300.76 18.00 127.85
2014-09-30 285.75 15.94 116.07
2014-06-30 270.74 13.88 104.28
2014-03-31 280.70 9.97 111.72
2013-12-31 290.65 6.06 119.15
2013-09-30 291.23 3.97 101.95
2013-06-30 291.81 1.88 84.76

*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.
  • ClearView Wealth has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ClearView Wealth used its assets less efficiently than the Global Diversified Financial industry average last year based on Return on Assets.
  • ClearView Wealth has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ClearView Wealth'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 Diversified Financial 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.
ClearView Wealth has a total score of 1/6, 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.

CVW Health

 How is ClearView Wealth'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 ClearView Wealth's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ClearView Wealth's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • ClearView Wealth's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of ClearView Wealth's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 11.7x 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 ClearView Wealth Company Filings, last reported 3 months ago.

ASX:CVW Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,355.44 31.00 316.95
2019-09-30 1,355.44 31.00 316.95
2019-06-30 1,372.21 15.00 304.71
2019-03-31 1,372.21 15.00 304.71
2018-12-31 1,338.01 15.00 292.54
2018-09-30 1,338.01 15.00 292.54
2018-06-30 1,420.39 0.00 275.05
2018-03-31 1,420.39 0.00 275.05
2017-12-31 1,370.42 0.00 292.92
2017-09-30 1,370.42 0.00 292.92
2017-06-30 1,204.08 0.00 300.52
2017-03-31 1,204.08 0.00 300.52
2016-12-31 1,038.51 0.00 298.76
2016-09-30 1,038.51 0.00 298.76
2016-06-30 998.97 0.00 297.26
2016-03-31 998.97 0.00 297.26
2015-12-31 831.82 45.50 287.38
2015-09-30 831.82 45.50 287.38
2015-06-30 755.75 45.50 307.80
2015-03-31 755.75 45.50 307.80
2014-12-31 710.35 20.50 232.19
2014-09-30 710.35 20.50 232.19
2014-06-30 640.84 0.00 272.06
2014-03-31 640.84 0.00 272.06
2013-12-31 540.27 0.00 265.96
2013-09-30 540.27 0.00 265.96
2013-06-30 470.62 0.00 286.95
  • ClearView Wealth's level of debt (2.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (2.9% vs 2.3% today).
  • Debt is well covered by operating cash flow (124.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 143.9x coverage).
X
Financial health checks
We assess ClearView Wealth'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. ClearView Wealth has a total score of 4/6, 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.

CVW Dividends

 What is ClearView Wealth'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
0%
Current annual income from ClearView Wealth dividends.
If you bought A$2,000 of ClearView Wealth shares you are expected to receive A$0 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?
  • Unable to evaluate ClearView Wealth's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate ClearView Wealth's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:CVW 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
Global Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 160 Stocks 4.7%
Australia Market Average Dividend Yield Market Cap Weighted Average of 370 Stocks 5.5%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.7%
Australia Bottom 25% Dividend Yield 25th Percentile 3.2%
Australia Top 25% Dividend Yield 75th Percentile 8%

Industry and Market average data is calculated daily.

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

ASX:CVW Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
ASX:CVW Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-25 0.000 0.000
2019-08-30 0.000 0.000
2018-08-22 0.030 3.658
2017-08-25 0.028 2.051
2016-08-23 0.025 1.935
2015-08-25 0.021 2.229
2014-08-26 0.020 2.034
2013-08-26 0.018 2.552
2012-08-20 0.018 2.983
2011-08-24 0.018 3.899
2009-08-14 0.000 0.000

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

  • Unable to perform a dividend volatility check as ClearView Wealth has not reported any payouts.
  • Unable to verify if ClearView Wealth's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of ClearView Wealth's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as ClearView Wealth has not reported any payouts.
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 ClearView Wealth's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 ClearView Wealth afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ClearView Wealth has a total score of 0/6, see the detailed checks below.


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

CVW Management

 What is the CEO of ClearView Wealth'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
Simon Swanson
COMPENSATION A$1,834,957
AGE 61
TENURE AS CEO 10.1 years
CEO Bio

Mr. Simon Swanson, FCPA is an internationally experienced financial services executive having worked for over 35 years across life insurance, funds management, general insurance and health insurance. He has successfully led the largest life insurer (CommInsure, Sovereign and Colonial) in three countries and spent half of his career in the Asia Pacific region. He is a former Chairman of ANZIIF’s Life, Health and Retirement Income Faculty Advisory Board and former director of the Australian Literacy and Numeracy Foundation. He appointed as Managing Director of ClearView Wealth Ltd. since March 2010. He holds B.Ec, B.Bus, ANZIIF (Fellow), CIP, FCPA.

CEO Compensation
  • Simon's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Simon's remuneration is higher than average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the ClearView Wealth management team in years:

7.3
Average Tenure
  • The average tenure for the ClearView Wealth management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Simon Swanson

TITLE
MD & Director
COMPENSATION
A$2M
AGE
61
TENURE
10.1 yrs

Athol Chiert

TITLE
Chief Financial Officer
COMPENSATION
A$944K
TENURE
11.4 yrs

Deborah Lowe

TITLE
General Manager of People & Operations
COMPENSATION
A$662K
TENURE
4.5 yrs

Justin McLaughlin

TITLE
Chief Investment Officer
COMPENSATION
A$731K
TENURE
11.8 yrs

Judilyn Beaumont

TITLE
General Counsel & Company Secretary
TENURE
0.4 yrs

Leng Ohlsson

TITLE
Head of Marketing & Corporate Affairs

Kathryn Williamson

TITLE
Head of Distribution Strategy
TENURE
2.2 yrs

Orla Cowan

TITLE
Chief Risk Officer
TENURE
0.6 yrs

Paul Frost

TITLE
Portfolio Manager
TENURE
11.8 yrs

Vanessa Beresford

TITLE
Manager of Investor Relations
Board of Directors Tenure

Average tenure of the ClearView Wealth board of directors in years:

3.9
Average Tenure
  • The tenure for the ClearView Wealth board of directors is about average.
Board of Directors

Bruce Edwards

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$150K
TENURE
3.9 yrs

Simon Swanson

TITLE
MD & Director
COMPENSATION
A$2M
AGE
61
TENURE
10.1 yrs

Susan Young

TITLE
Non-Executive Director
COMPENSATION
A$95K
TENURE
3.3 yrs

Gary Burg

TITLE
Independent Non-Executive Director
COMPENSATION
A$85K
TENURE
7.5 yrs

Nathanial Thomson

TITLE
Non-Executive Director
COMPENSATION
A$85K
TENURE
7.5 yrs

Michael Alscher

TITLE
Non-Executive Director
COMPENSATION
A$49K
AGE
51
TENURE
1.4 yrs

Geoff Black

TITLE
Independent Non-Executive Director
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by ClearView Wealth 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$) Value (A$)
19. Aug 19 Sell Colonial First State Investments Limited Company 15. Aug 19 15. Aug 19 -548,000 A$0.68 A$-372,639
03. Mar 20 Buy Simon Swanson Individual 28. Feb 20 28. Feb 20 58,754 A$0.33 A$19,663
12. Jun 19 Buy Crescent Capital Partners Management Pty Ltd. Company 12. Apr 19 07. Jun 19 12,270,000 A$0.75 A$8,801,643
11. Apr 19 Buy First Sentier Investors (Australia) IM Ltd Company 04. Jan 19 10. Apr 19 1,994,269 A$0.86 A$1,311,186
X
Management checks
We assess ClearView Wealth'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. ClearView Wealth 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.

CVW News

Simply Wall St News

Do Directors Own ClearView Wealth Limited (ASX:CVW) Shares?

Check out our latest analysis for ClearView Wealth ASX:CVW Ownership Summary, August 28th 2019 What Does The Institutional Ownership Tell Us About ClearView Wealth? … We can see that ClearView Wealth does have institutional investors; and they hold 25% of the stock. … Insider Ownership Of ClearView Wealth The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Read This Before Selling ClearView Wealth Limited (ASX:CVW) Shares

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for ClearView Wealth The Last 12 Months Of Insider Transactions At ClearView Wealth There wasn't any very large single transaction over the last year, but we can still observe some trading. … ASX:CVW Recent Insider Trading, August 7th 2019 Insider Ownership of ClearView Wealth 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. … Overall we don't see anything to make us think ClearView Wealth insiders are doubting the company, and they do own shares.

Simply Wall St -

Imagine Owning ClearView Wealth (ASX:CVW) And Wondering If The 40% Share Price Slide Is Justified

During the unfortunate twelve months during which the ClearView Wealth share price fell, it actually saw its earnings per share (EPS) improve by 13%. … We'd be remiss not to mention the difference between ClearView Wealth's total shareholder return (TSR) and its share price return. … Dividends have been really beneficial for ClearView Wealth shareholders, and that cash payout explains why its total shareholder loss of 38%, over the last year, isn't as bad as the share price return.

Simply Wall St -

Is ClearView Wealth (ASX:CVW) Using Too Much Debt?

We note that ClearView Wealth Limited (ASX:CVW) does have debt on its balance sheet. … ASX:CVW Historical Debt, June 25th 2019 A Look At ClearView Wealth's Liabilities The latest balance sheet data shows that ClearView Wealth had liabilities of AU$2.0k due within a year, and liabilities of AU$991.2m falling due after that. … ClearView Wealth may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt.

Simply Wall St -

Where ClearView Wealth Limited (ASX:CVW) Stands In Terms Of Earnings Growth Against Its Industry

When ClearView Wealth Limited (ASX:CVW) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which CVW is growing has slowed down. … You should continue to research ClearView Wealth to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for CVW’s future growth?

Simply Wall St -

Is ClearView Wealth Limited's (ASX:CVW) CEO Pay Fair?

Simon Swanson has been the CEO of ClearView Wealth Limited (ASX:CVW) since 2010. … See our latest analysis for ClearView Wealth How Does Simon Swanson's Compensation Compare With Similar Sized Companies? … Our data indicates that ClearView Wealth Limited is worth AU$503m, and total annual CEO compensation is AU$1.1m.

Simply Wall St -

What Kind Of Shareholders Own ClearView Wealth Limited (ASX:CVW)?

A look at the shareholders of ClearView Wealth Limited (ASX:CVW) can tell us which group is most powerful. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … ClearView Wealth is a smaller company with a market capitalization of AU$503m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Have Insiders Been Buying ClearView Wealth Limited (ASX:CVW) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in ClearView Wealth Limited (ASX:CVW). … We don't think shareholders should simply follow insider transactions. … The Last 12 Months Of Insider Transactions At ClearView Wealth

Simply Wall St -

What To Know Before Buying ClearView Wealth Limited (ASX:CVW) For Its Dividend

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Historically, ClearView Wealth Limited (ASX:CVW) has paid dividends to shareholders, and these days it yields 3.4%. … Let's take a look at ClearView Wealth in more detail.

Simply Wall St -

ClearView Wealth Limited (ASX:CVW): Has Recent Earnings Growth Beaten Long-Term Trend?

Below, I will assess ClearView Wealth Limited's (ASX:CVW) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Commentary On CVW's Past Performance. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 17%, indicating the rate at which CVW is growing has slowed down

Simply Wall St -

CVW Company Info

Description

ClearView Wealth Limited provides life insurance, wealth management, and financial advisory solutions in Australia. Its Life Insurance segment provides life insurance products, including term life, permanent disability, trauma and critical illness benefits, parent cover, child cover, accident covers, income protection, and business expense covers through financial advisers, third parties, and external advisers. The company’s Wealth Management segment offers life investment contracts, including ordinary savings, superannuation, and allocated pension products; superannuation and retirement income wraps, and investor directed portfolio service wraps; and managed investment schemes. Its Financial Advice segment provides financial advisory and dealer group services to self-employed financial advisers. ClearView Wealth Limited was founded in 1976 and is headquartered in Sydney, Australia.

Details
Name: ClearView Wealth Limited
CVW
Exchange: ASX
Founded: 1976
A$119,008,757
626,361,882
Website: http://www.clearview.com.au
Address: ClearView Wealth Limited
20 Bond Street,
Level 15,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CVW Ordinary Shares Australian Securities Exchange AU AUD 11. Dec 2003
CHIA CVW Ordinary Shares Chi-X Australia AU AUD 11. Dec 2003
Number of employees
Current staff
Staff numbers
0
ClearView Wealth employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 10:33
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2019/07/29
Last earnings filing: 2020/02/25
Last earnings reported: 2019/12/31
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.