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FlexiGroup

ASX:FXL
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FXL
ASX
A$812M
Market Cap
  1. Home
  2. AU
  3. Diversified Financials
Company description

FlexiGroup Limited provides consumer revolving finance, card, leasing, and rental financing services in Australia, New Zealand, and Ireland. The last earnings update was 85 days ago. More info.


Add to Portfolio Compare Print
  • FlexiGroup has significant price volatility in the past 3 months.
FXL Share Price and Events
7 Day Returns
-2.8%
ASX:FXL
-0.9%
AU Consumer Finance
-0.1%
AU Market
1 Year Returns
32.9%
ASX:FXL
57.6%
AU Consumer Finance
16.5%
AU Market
FXL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FlexiGroup (FXL) -2.8% 3% 34.6% 32.9% -7.2% -31.6%
AU Consumer Finance -0.9% -2.2% 10.7% 57.6% 29.9% 35.1%
AU Market -0.1% 1.5% 3.5% 16.5% 21.9% 20.6%
1 Year Return vs Industry and Market
  • FXL underperformed the Consumer Finance industry which returned 57.6% over the past year.
  • FXL outperformed the Market in Australia which returned 16.5% over the past year.
Price Volatility
FXL
Industry
5yr Volatility vs Market

Value

 Is FlexiGroup 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 FlexiGroup 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 FlexiGroup.

ASX:FXL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= A$1.79 * 12.6%
A$0.23
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. A$1.79
Discount Rate (Cost of Equity) See below 12.8%
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:FXL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Consumer Finance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.691 (1 + (1- 30%) (296.14%))
1.753
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.75
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.753 * 5.96%)
12.76%

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

The calculations below outline how an intrinsic value for FlexiGroup 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:FXL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.6% – 12.76%) * A$1.79)
A$0.00
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.00 / (12.76% - 2.31%)
A$-0.03
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$1.79 + A$-0.03
A$1.77
ASX:FXL Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$1.77
Current discount Discount to share price of A$2.06
= -1 x (A$2.06 - A$1.77) / A$1.77
-16.7%

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

  • The current share price of FlexiGroup 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 FlexiGroup's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FlexiGroup's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:FXL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in AUD A$0.16
ASX:FXL Share Price ** ASX (2019-11-19) in AUD A$2.06
Australia Consumer Finance Industry PE Ratio Median Figure of 7 Publicly-Listed Consumer Finance Companies 13.1x
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 FlexiGroup.

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

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

= 2.06 ÷ 0.16

12.97x

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

  • FlexiGroup is good value based on earnings compared to the AU Consumer Finance industry average.
  • FlexiGroup is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does FlexiGroup's expected growth come at a high price?
Raw Data
ASX:FXL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
12.7%per year
Australia Consumer Finance Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Finance Companies 1.03x
Australia Market PEG Ratio Median Figure of 347 Publicly-Listed Companies 1.6x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.97x ÷ 12.7%

1.02x

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

  • FlexiGroup is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on FlexiGroup's assets?
Raw Data
ASX:FXL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in AUD A$1.56
ASX:FXL Share Price * ASX (2019-11-19) in AUD A$2.06
Australia Consumer Finance Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Finance Companies 2.06x
Australia Market PB Ratio Median Figure of 1,584 Publicly-Listed Companies 1.75x
ASX:FXL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.06 ÷ 1.56

1.32x

* Primary Listing of FlexiGroup.

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

  • FlexiGroup is good value based on assets compared to the AU Consumer Finance industry average.
X
Value checks
We assess FlexiGroup'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 Consumer Finance 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 Consumer Finance industry average (and greater than 0)? (1 check)
  5. FlexiGroup 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.

Future Performance

 How is FlexiGroup expected to perform in the next 1 to 3 years based on estimates from 6 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
12.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FlexiGroup expected to grow at an attractive rate?
  • FlexiGroup's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • FlexiGroup's earnings growth is expected to exceed the Australia market average.
  • FlexiGroup's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:FXL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:FXL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 12.7%
ASX:FXL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 17.4%
Australia Consumer Finance Industry Earnings Growth Rate Market Cap Weighted Average 45.9%
Australia Consumer Finance Industry Revenue Growth Rate Market Cap Weighted Average 22.4%
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:FXL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:FXL Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 550 113 90 4
2021-06-30 528 103 82 5
2020-06-30 501 92 75 5
2019-11-19
ASX:FXL Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-06-30 296 165 60
2019-03-31 287 176 66
2018-12-31 276 186 70
2018-09-30 286 187 30
2018-06-30 297 189 -9
2018-03-31 296 172 -9
2017-12-31 295 155 -9
2017-09-30 297 158 39
2017-06-30 298 161 87
2017-03-31 286 160 72
2016-12-31 273 159 57
2016-09-30 256 153 53

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FlexiGroup's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
  • FlexiGroup's revenue is expected to grow by 17.4% 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:FXL 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 6 Analyst Estimates (S&P Global) See Below

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

ASX:FXL Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.23 0.24 0.22 2.00
2021-06-30 0.21 0.23 0.19 4.00
2020-06-30 0.19 0.20 0.17 4.00
2019-11-19
ASX:FXL Past Financials Data
Date (Data in AUD Millions) EPS *
2019-06-30 0.16
2019-03-31 0.17
2018-12-31 0.18
2018-09-30 0.08
2018-06-30 -0.02
2018-03-31 -0.02
2017-12-31 -0.02
2017-09-30 0.10
2017-06-30 0.23
2017-03-31 0.19
2016-12-31 0.15
2016-09-30 0.15

*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.
  • FlexiGroup is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess FlexiGroup'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.
FlexiGroup has a total score of 3/6, see the detailed checks below.

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

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

Past Performance

  How has FlexiGroup 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 FlexiGroup's growth in the last year to its industry (Consumer Finance).
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.
  • FlexiGroup's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • FlexiGroup has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • FlexiGroup has become profitable in the last year making it difficult to compare the Oceania Consumer Finance industry average.
Earnings and Revenue History
FlexiGroup'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 FlexiGroup Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:FXL Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 296.10 60.30 109.10
2019-03-31 286.70 65.70 106.30
2018-12-31 275.80 69.90 103.50
2018-09-30 285.85 29.80 103.20
2018-06-30 297.40 -9.10 102.90
2018-03-31 296.30 -9.15 103.05
2017-12-31 295.20 -9.20 103.20
2017-09-30 296.60 39.10 101.10
2017-06-30 298.00 87.40 99.00
2017-03-31 285.50 71.95 96.60
2016-12-31 273.00 56.50 94.20
2016-09-30 255.90 53.35 86.70
2016-06-30 238.80 50.20 79.20
2016-03-31 237.30 67.90 73.65
2015-12-31 235.80 85.60 68.10
2015-09-30 232.25 84.15 68.55
2015-06-30 228.70 82.70 69.00
2015-03-31 227.55 72.10 76.45
2014-12-31 226.40 61.50 83.90
2014-09-30 221.45 59.55 79.20
2014-06-30 216.50 57.60 74.50
2014-03-31 208.58 63.89 59.63
2013-12-31 200.67 70.18 44.76
2013-09-30 195.31 68.01 52.79
2013-06-30 189.96 65.84 60.83
2013-03-31 182.77 63.77 63.89
2012-12-31 175.59 61.70 66.95

*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.
  • FlexiGroup has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FlexiGroup used its assets less efficiently than the AU Consumer Finance industry average last year based on Return on Assets.
  • Unable to establish if FlexiGroup 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 FlexiGroup'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 Consumer Finance 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.
FlexiGroup 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.

Health

 How is FlexiGroup'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 FlexiGroup's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FlexiGroup is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FlexiGroup's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FlexiGroup'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 1.1x 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 FlexiGroup Company Filings, last reported 4 months ago.

ASX:FXL Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 616.10 2,405.30 143.10
2019-03-31 616.10 2,405.30 143.10
2018-12-31 580.40 2,314.90 117.50
2018-09-30 580.40 2,314.90 117.50
2018-06-30 616.50 2,131.10 125.30
2018-03-31 616.50 2,131.10 125.30
2017-12-31 596.90 2,052.30 133.80
2017-09-30 596.90 2,052.30 133.80
2017-06-30 671.80 2,020.60 167.30
2017-03-31 671.80 2,020.60 167.30
2016-12-31 644.90 2,045.10 186.50
2016-09-30 644.90 2,045.10 186.50
2016-06-30 612.40 1,968.50 174.40
2016-03-31 612.40 1,968.50 174.40
2015-12-31 577.80 1,165.70 137.20
2015-09-30 577.80 1,165.70 137.20
2015-06-30 410.50 1,281.80 130.30
2015-03-31 410.50 1,281.80 130.30
2014-12-31 398.90 1,178.80 119.70
2014-09-30 398.90 1,178.80 119.70
2014-06-30 385.00 1,136.30 106.60
2014-03-31 385.00 1,136.30 106.60
2013-12-31 381.67 1,040.67 118.91
2013-09-30 381.67 1,040.67 118.91
2013-06-30 364.59 994.17 122.75
2013-03-31 364.59 994.17 122.75
2012-12-31 288.56 880.47 83.92
  • FlexiGroup's level of debt (390.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (295.1% vs 390.4% today).
  • Debt is not well covered by operating cash flow (6.9%, less than 20% of total debt).
  • Unable to confirm if the interest payments on FlexiGroup's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess FlexiGroup'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. FlexiGroup has a total score of 2/6, 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 FlexiGroup'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
3.74%
Current annual income from FlexiGroup dividends. Estimated to be 4.17% next year.
If you bought A$2,000 of FlexiGroup shares you are expected to receive A$75 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?
  • FlexiGroup's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.37%).
  • FlexiGroup'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:FXL 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 6 Analyst Estimates (S&P Global) See Below
Australia Consumer Finance Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.2%
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:FXL Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.09 4.00
2021-06-30 0.09 5.00
2020-06-30 0.08 5.00
2019-11-19
ASX:FXL Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-08-26 0.077 3.789
2019-03-01 0.077 4.867
2018-08-20 0.077 5.013
2018-02-19 0.077 3.883
2017-08-14 0.077 4.712
2016-08-29 0.145 6.809
2016-02-16 0.163 7.469
2015-08-17 0.180 6.694
2015-02-04 0.175 5.310
2014-08-06 0.170 5.152
2014-02-05 0.160 4.454
2013-08-06 0.150 3.444
2013-02-06 0.140 3.292
2012-08-09 0.130 3.634
2012-02-09 0.120 5.030
2011-08-08 0.110 5.236
2011-02-10 0.100 4.857
2010-08-24 0.090 6.149
2010-02-22 0.060 4.530
2009-08-20 0.060 3.837
2009-02-18 0.060 9.551

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of FlexiGroup's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess FlexiGroup'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 FlexiGroup afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FlexiGroup has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of FlexiGroup'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
Rebecca James
COMPENSATION A$797,329
TENURE AS CEO 1.1 years
CEO Bio

Ms. Rebecca James has been the Chief Executive Officer of FlexiGroup Ltd. since October 2, 2018. She served as the Chief Marketing & Enterprise Officer of Prospa Group Limited. Ms. James joined Prospa in 2017. She had responsibility for customer acquisition and retention and for strategic alliances. She served as Chief Marketing Officer of Members Equity Bank Limited since January 28, 2014 until August 24, 2017. Ms. James joined ME early 2014 and has since been busy reshaping the ME brand, simplifying products and step-changing ME's customer experience. She has with her more than 20 years of experience in marketing and advertising including as Managing Director of customer experience agency Lavender, whose clients included Westpac, BT Financial Group, American Express, Qantas, Telstra, Coles, IKEA and Microsoft. She has a BBus in Marketing from UTS and is trained in Design Thinking from Stanford University.

CEO Compensation
  • Insufficient data for Rebecca to compare compensation growth.
  • Rebecca's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure of the FlexiGroup management team in years:

1
Average Tenure
  • The average tenure for the FlexiGroup management team is less than 2 years, this suggests a new team.
Management Team

Rebecca James

TITLE
Chief Executive Officer
COMPENSATION
A$797K
TENURE
1.1 yrs

Ross Aucutt

TITLE
Chief Financial Officer
COMPENSATION
A$524K
TENURE
2.8 yrs

Chris Lamers

TITLE
Deputy Group CEO & Chief Revenue Officer of New Zealand
COMPENSATION
A$479K
TENURE
0.3 yrs

Libby Minogue

TITLE
Chief Revenue Officer (Australia)
COMPENSATION
A$494K
TENURE
0.6 yrs

Matt Beaman

TITLE
Group General Counsel and Group Head of Operational Risk & Compliance
TENURE
1.8 yrs

Natalie Nicholson

TITLE
Chief People & Culture Officer
TENURE
0.5 yrs

Jane Scotcher

TITLE
Head of Consumer Sales – Major Accounts
COMPENSATION
A$349K

Jonathan Kelly

TITLE
Group Head of Product & Innovation

Tim Lord

TITLE
Chief Credit Officer
TENURE
1.2 yrs

Isobel Rogerson

TITLE
Company Secretary
TENURE
1 yrs
Board of Directors Tenure

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

2.2
Average Tenure
57
Average Age
  • The average tenure for the FlexiGroup board of directors is less than 3 years, this suggests a new board.
Board of Directors

Andrew Abercrombie

TITLE
Chairman
COMPENSATION
A$274K
AGE
63
TENURE
4.3 yrs

Christine Christian

TITLE
Deputy Chair of the Board
COMPENSATION
A$246K
AGE
62
TENURE
1.3 yrs

Jodie Leonard

TITLE
Independent Non-Executive Director
COMPENSATION
A$170K
AGE
52
TENURE
2.9 yrs

Carole Campbell

TITLE
Independent Non-Executive Director
COMPENSATION
A$166K
AGE
56
TENURE
1.5 yrs

Raj Dhawan

TITLE
Independent Non Executive Director
COMPENSATION
A$230K
AGE
53
TENURE
13.3 yrs

John Wylie

TITLE
Independent Non Executive Director
COMPENSATION
A$34K
AGE
58
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by FlexiGroup individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
20. Oct 19 Buy Jodie Leonard Individual 07. Oct 19 07. Oct 19 20,000 A$2.30 A$46,000
21. Aug 19 Sell Morgan Stanley, Investment Banking and Brokerage Investments Company 05. Aug 19 16. Aug 19 -340,230 A$1.64 A$-559,255
21. Aug 19 Buy Morgan Stanley, Investment Banking and Brokerage Investments Company 05. Aug 19 16. Aug 19 418,742 A$1.58 A$661,545
20. Aug 19 Sell First Sentier Investors (Australia) IM Ltd Company 09. Aug 19 20. Aug 19 -5,833,054 A$1.55 A$-9,046,334
06. Aug 19 Buy Realindex Investments Pty Limited Company 12. Apr 19 22. Jul 19 576,991 A$1.58 A$913,630
06. Aug 19 Buy First Sentier Investors (Australia) IM Ltd Company 03. Apr 19 20. Jun 19 4,090,160 A$1.46 A$5,968,185
05. Aug 19 Sell First Sentier Investors (Australia) IM Ltd Company 29. May 19 24. Jul 19 -1,789,394 A$1.67 A$-2,995,289
05. Aug 19 Buy First Sentier Investors (Australia) IM Ltd Company 21. May 19 30. Jul 19 567,817 A$1.77 A$981,849
20. Jun 19 Sell Renaissance Smaller Companies Pty Ltd Company 10. May 19 18. Jun 19 -4,652,157 A$1.82 A$-8,454,455
11. Jun 19 Buy Christine Christian Individual 04. Jun 19 04. Jun 19 28,000 A$1.77 A$49,560
17. May 19 Buy Christine Christian Individual 13. May 19 16. May 19 30,000 A$1.92 A$57,084
13. May 19 Buy Realindex Investments Pty Limited Company 12. Apr 19 12. Apr 19 47,752 A$1.47 A$70,114
13. May 19 Sell First Sentier Investors (Australia) IM Ltd Company 23. Apr 19 06. May 19 -176,486 A$1.45 A$-256,447
13. May 19 Buy First Sentier Investors (Australia) IM Ltd Company 01. Apr 19 10. May 19 4,104,988 A$1.61 A$5,925,261
13. May 19 Sell Renaissance Smaller Companies Pty Ltd Company 27. Feb 19 09. May 19 -2,729,936 A$1.62 A$-4,425,304
01. Apr 19 Buy First Sentier Investors (Australia) IM Ltd Company 27. Mar 19 29. Mar 19 665,321 A$1.35 A$895,585
26. Mar 19 Buy Realindex Investments Pty Limited Company 25. Jan 19 20. Mar 19 429,175 A$1.46 A$628,596
26. Mar 19 Sell First Sentier Investors (Australia) IM Ltd Company 30. Jan 19 08. Mar 19 -153,698 A$1.55 A$-227,067
26. Mar 19 Buy First Sentier Investors (Australia) IM Ltd Company 31. Jan 19 13. Mar 19 502,204 A$1.33 A$627,725
22. Mar 19 Buy Investment Ops No. 1 Pty Ltd Company 26. Feb 19 26. Feb 19 12,068,369 A$1.25 A$15,085,451
22. Mar 19 Buy John Wylie Individual 26. Feb 19 26. Feb 19 8,045,578 A$1.25 A$10,056,966
15. Mar 19 Buy Carole Campbell Individual 12. Mar 19 12. Mar 19 25,000 A$1.38 A$34,500
27. Feb 19 Sell Renaissance Smaller Companies Pty Ltd Company 12. Dec 18 26. Feb 19 -50,602 A$1.42 A$-71,728
27. Feb 19 Buy Renaissance Smaller Companies Pty Ltd Company 12. Dec 18 26. Feb 19 4,924,492 A$1.21 A$5,958,098
25. Jan 19 Buy Realindex Investments Pty Limited Company 25. Oct 18 12. Dec 18 460,994 A$1.47 A$675,699
25. Jan 19 Buy First Sentier Investors (Australia) IM Ltd Company 30. Oct 18 21. Jan 19 328,237 A$1.52 A$464,754
13. Dec 18 Sell Renaissance Smaller Companies Pty Ltd Company 07. Aug 18 11. Dec 18 -353,436 A$1.85 A$-652,277
13. Dec 18 Buy Renaissance Smaller Companies Pty Ltd Company 07. Aug 18 11. Dec 18 5,128,103 A$1.57 A$8,066,476
X
Management checks
We assess FlexiGroup'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. FlexiGroup 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

Is FlexiGroup Limited (ASX:FXL) A Volatile Stock?

The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

How Much Of FlexiGroup Limited (ASX:FXL) Do Insiders Own?

FlexiGroup is a smaller company with a market capitalization of AU$533m, so it may still be flying under the radar of many institutional investors. … Our analysis of the ownership of the company, below, shows that. … institutional investors have bought into the company

Simply Wall St -

Investors Are Undervaluing FlexiGroup Limited (ASX:FXL) By 24.3%

Given that these companies adhere to a different set of rules relative to other companies, their cash flows should also be valued differently. … These lenders, for example, must hold certain levels of capital in order to maintain a safe cash cushion.

Simply Wall St -

Who Owns FlexiGroup Limited (ASX:FXL)?

In this article, I'm going to take a look at FlexiGroup Limited’s (ASX:FXL) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … View our latest analysis for FlexiGroup … ASX:FXL Ownership Summary August 20th 18

Simply Wall St -

Before You Buy FlexiGroup Limited's (ASX:FXL), Consider This

Broadly speaking, there are two types of risk you should consider when investing in stocks such as FXL. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one.

Simply Wall St -

Should You Buy FlexiGroup Limited (ASX:FXL) For Its Dividend?

FlexiGroup Limited (ASX:FXL) has returned to shareholders over the past 10 years, an average dividend yield of 6.00% annually. … Does FlexiGroup tick all the boxes of a great dividend stock? … Check out our latest analysis for FlexiGroup

Simply Wall St -

Who Owns Most Of FlexiGroup Limited (ASX:FXL)?

This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Thus, investors not need worry too much about the consequences of these holdings.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Is It Time To Buy FlexiGroup Limited (ASX:FXL)?

This is based on its high beta, which is a good indicator for share price volatility. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you believe FXL should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

Does FlexiGroup Limited's (ASX:FXL) Past Performance Indicate A Weaker Future?

Today I will take a look at FlexiGroup Limited's (ASX:FXL) most recent earnings update (31 December 2017) and compare these latest figures against its performance over the past few years, as well as how the rest of the consumer finance industry performed. … Check out our latest analysis for FlexiGroup Was FXL's recent earnings decline worse than the long-term trend and the industry? … I like to use data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data.

Simply Wall St -

Is FlexiGroup Limited's (ASX:FXL) CEO Paid Enough To Stay Motivated?

View our latest analysis for FlexiGroup What has FXL's performance been like? … During times of negative earnings, the company may be facing a period of reinvestment and growth, or it can be a sign of some headwind. … Usually I would look at market cap and earnings as a proxy for performance, however, FXL's negative earnings lower the effectiveness of this method.

Simply Wall St -

Company Info

Description

FlexiGroup Limited provides consumer revolving finance, card, leasing, and rental financing services in Australia, New Zealand, and Ireland. It operates through six segments: NZ Cards, Humm, NZ Leasing, Australia Cards, Consumer Leasing, and Commercial Leasing. The company offers leasing services to consumers, businesses, and corporations; and interest free finance to enable customers to facilitate purchases at participating retailer’s point of sale and online. It also provides no interest ever, vendor finance program, Visa/Mastercard, managed print, lay-by, and other payment solutions to consumers and businesses. The company offers its services under the Humm, Lisa, SmartWay, FlexiWay, FlexiFi, Flexirent, Farmers, Q Card, Flight Centre Mastercard, Oxipay NZ, Flexirent IE, Flexirent NZ, Lombard, Once, Q Card NZ, Skye, and Smartway brands. FlexiGroup Limited was founded in 1988 and is headquartered in Sydney, Australia.

Details
Name: FlexiGroup Limited
FXL
Exchange: ASX
Founded: 1988
A$812,230,187
394,286,499
Website: http://www.flexigroup.com.au
Address: FlexiGroup Limited
179 Elizabeth Street,
Level 7,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX FXL Ordinary Shares Australian Securities Exchange AU AUD 12. Dec 2006
DB F5L Ordinary Shares Deutsche Boerse AG DE EUR 12. Dec 2006
CHIA FXL Ordinary Shares Chi-X Australia AU AUD 12. Dec 2006
Number of employees
Current staff
Staff numbers
0
FlexiGroup employees.
Industry
Consumer Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 10:34
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/10/13
Last earnings filing: 2019/08/26
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.