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Cedar Woods Properties

ASX:CWP
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CWP
ASX
A$356M
Market Cap
  1. Home
  2. AU
  3. Real Estate
Company description

Cedar Woods Properties Limited engages in property investment and development activities in Australia. The last earnings update was 44 days ago. More info.


Add to Portfolio Compare Print
  • Cedar Woods Properties has significant price volatility in the past 3 months.
CWP Share Price and Events
7 Day Returns
13.2%
ASX:CWP
8.6%
AU Real Estate
5.3%
AU Market
1 Year Returns
-20.7%
ASX:CWP
-8%
AU Real Estate
-17.6%
AU Market
CWP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cedar Woods Properties (CWP) 13.2% -38.8% -46.3% -20.7% -20.2% -21.7%
AU Real Estate 8.6% -31.4% -33.7% -8% -28.9% -26.9%
AU Market 5.3% -18.2% -22.6% -17.6% -14.1% -14.3%
1 Year Return vs Industry and Market
  • CWP underperformed the Real Estate industry which returned -8% over the past year.
  • CWP underperformed the Market in Australia which returned -17.6% over the past year.
Price Volatility
CWP
Industry
5yr Volatility vs Market

CWP Value

 Is Cedar Woods Properties 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 Cedar Woods Properties 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 Cedar Woods Properties.

ASX:CWP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
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:CWP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 1.1%
Equity Risk Premium S&P Global 5.4%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.98 (1 + (1- 30%) (42.06%))
1.18
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.08% + (1.18 * 5.44%)
7.5%

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

The calculations below outline how an intrinsic value for Cedar Woods Properties 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:CWP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.5%)
2020 47.90 Analyst x1 44.56
2021 45.10 Analyst x1 39.03
2022 55.80 Analyst x1 44.92
2023 63.61 Est @ 13.99% 47.63
2024 70.04 Est @ 10.12% 48.79
2025 75.23 Est @ 7.41% 48.75
2026 79.37 Est @ 5.51% 47.85
2027 82.69 Est @ 4.18% 46.37
2028 85.38 Est @ 3.25% 44.54
2029 87.60 Est @ 2.6% 42.51
Present value of next 10 years cash flows A$454.00
ASX:CWP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$87.60 × (1 + 1.08%) ÷ (7.5% – 1.08%)
A$1,379.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,379.71 ÷ (1 + 7.5%)10
A$669.58
ASX:CWP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$454.00 + A$669.58
A$1,123.58
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,123.58 / 80.45
A$13.97
ASX:CWP Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$13.97
Current discount Discount to share price of A$4.30
= -1 x (A$4.30 - A$13.97) / A$13.97
69.2%

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

Current Discount
Amount off the current price Cedar Woods Properties is available for.
Intrinsic value
>50%
Share price is A$4.3 vs Future cash flow value of A$13.97
Current Discount Checks
For Cedar Woods Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cedar Woods Properties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Cedar Woods Properties'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 Cedar Woods Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cedar Woods Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CWP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.35
ASX:CWP Share Price ** ASX (2020-04-02) in AUD A$4.3
Australia Real Estate Industry PE Ratio Median Figure of 19 Publicly-Listed Real Estate Companies 12.64x
Australia Market PE Ratio Median Figure of 515 Publicly-Listed Companies 13.38x

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

** Primary Listing of Cedar Woods Properties.

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

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

= 4.3 ÷ 0.35

12.3x

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

  • Cedar Woods Properties is good value based on earnings compared to the AU Real Estate industry average.
  • Cedar Woods Properties is good value based on earnings compared to the Australia market.
Price based on expected Growth
Does Cedar Woods Properties's expected growth come at a high price?
Raw Data
ASX:CWP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
18.3%per year
Australia Real Estate Industry PEG Ratio Median Figure of 9 Publicly-Listed Real Estate Companies 0.71x
Australia Market PEG Ratio Median Figure of 337 Publicly-Listed Companies 1.05x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.3x ÷ 18.3%

0.67x

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

  • Cedar Woods Properties is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Cedar Woods Properties's assets?
Raw Data
ASX:CWP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$4.70
ASX:CWP Share Price * ASX (2020-04-02) in AUD A$4.3
Australia Real Estate Industry PB Ratio Median Figure of 34 Publicly-Listed Real Estate Companies 0.74x
Australia Market PB Ratio Median Figure of 1,614 Publicly-Listed Companies 1.22x
ASX:CWP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 4.3 ÷ 4.70

0.92x

* Primary Listing of Cedar Woods Properties.

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

  • Cedar Woods Properties is overvalued based on assets compared to the AU Real Estate industry average.
X
Value checks
We assess Cedar Woods Properties'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. Cedar Woods Properties has a total score of 5/6, 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.

CWP Future Performance

 How is Cedar Woods Properties expected to perform in the next 1 to 3 years based on estimates from 2 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
18.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cedar Woods Properties expected to grow at an attractive rate?
  • Cedar Woods Properties's earnings growth is expected to exceed the low risk savings rate of 1.1%.
Growth vs Market Checks
  • Cedar Woods Properties's earnings growth is expected to exceed the Australia market average.
  • Cedar Woods Properties's revenue growth is expected to exceed the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CWP Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CWP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 18.3%
ASX:CWP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 8.7%
Australia Real Estate Industry Earnings Growth Rate Market Cap Weighted Average 29.7%
Australia Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
Australia Market Earnings Growth Rate Market Cap Weighted Average 9.7%
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:CWP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CWP Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 387 56 52 1
2021-06-30 325 45 42 2
2020-06-30 320 41 41 2
2020-04-02
ASX:CWP Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 300 22 28
2019-09-30 338 28 38
2019-06-30 375 33 49
2019-03-31 382 59
2018-12-31 389 46 70
2018-09-30 314 20 56
2018-06-30 240 -7 43
2018-03-31 230 44
2017-12-31 220 -48 46
2017-09-30 221 -24 46
2017-06-30 221 0 45
2017-03-31 187 9 37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cedar Woods Properties's earnings are expected to grow by 18.3% yearly, however this is not considered high growth (20% yearly).
  • Cedar Woods Properties's revenue is expected to grow by 8.7% 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:CWP 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 2 Analyst Estimates (S&P Global) See Below

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

ASX:CWP Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.64 0.64 0.64 1.00
2021-06-30 0.52 0.61 0.43 2.00
2020-06-30 0.51 0.54 0.47 2.00
2020-04-02
ASX:CWP Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.35
2019-09-30 0.48
2019-06-30 0.61
2019-03-31 0.74
2018-12-31 0.88
2018-09-30 0.71
2018-06-30 0.54
2018-03-31 0.56
2017-12-31 0.58
2017-09-30 0.58
2017-06-30 0.58
2017-03-31 0.47

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

CWP Past Performance

  How has Cedar Woods Properties 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 Cedar Woods Properties's growth in the last year to its industry (Real Estate).
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.
  • Cedar Woods Properties's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Cedar Woods Properties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cedar Woods Properties's 1-year earnings growth is negative, it can't be compared to the AU Real Estate industry average.
Earnings and Revenue History
Cedar Woods Properties'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 Cedar Woods Properties Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CWP Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 299.92 28.04 20.66
2019-09-30 337.53 38.34 20.61
2019-06-30 375.15 48.64 20.56
2019-03-31 382.10 59.42 19.66
2018-12-31 388.74 70.19 18.76
2018-09-30 314.28 56.40 18.06
2018-06-30 239.82 42.60 17.36
2018-03-31 230.07 44.12 17.43
2017-12-31 220.33 45.64 17.49
2017-09-30 220.83 45.54 17.16
2017-06-30 221.33 45.45 16.83
2017-03-31 187.48 36.98 16.18
2016-12-31 153.62 28.51 15.54
2016-09-30 163.74 36.06 15.31
2016-06-30 173.86 43.60 15.08
2016-03-31 175.08 47.62 14.98
2015-12-31 176.30 51.64 14.89
2015-09-30 176.76 47.11 14.53
2015-06-30 177.21 42.59 14.18
2015-03-31 183.05 35.73 14.16
2014-12-31 188.90 28.87 14.14
2014-09-30 200.87 34.59 14.02
2014-06-30 212.83 40.31 13.89
2014-03-31 204.50 39.52 13.38
2013-12-31 196.17 38.74 12.87
2013-09-30 182.34 37.54 12.37
2013-06-30 168.52 36.34 11.87

*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.
  • Cedar Woods Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cedar Woods Properties used its assets more efficiently than the AU Real Estate industry average last year based on Return on Assets.
  • Cedar Woods Properties's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cedar Woods Properties'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 Real Estate 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.
Cedar Woods Properties 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.

CWP Health

 How is Cedar Woods Properties'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 Cedar Woods Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cedar Woods Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cedar Woods Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cedar Woods Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cedar Woods Properties Company Filings, last reported 3 months ago.

ASX:CWP Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 377.83 147.13 3.69
2019-09-30 377.83 147.13 3.69
2019-06-30 376.53 119.02 13.44
2019-03-31 376.53 119.02 13.44
2018-12-31 373.27 141.10 2.65
2018-09-30 373.27 141.10 2.65
2018-06-30 353.19 133.01 23.69
2018-03-31 353.19 133.01 23.69
2017-12-31 319.40 170.62 4.95
2017-09-30 319.40 170.62 4.95
2017-06-30 330.23 87.75 8.40
2017-03-31 330.23 87.75 8.40
2016-12-31 297.29 91.74 1.47
2016-09-30 297.29 91.74 1.47
2016-06-30 307.19 52.77 1.70
2016-03-31 307.19 52.77 1.70
2015-12-31 291.09 78.93 3.38
2015-09-30 291.09 78.93 3.38
2015-06-30 285.61 29.86 1.89
2015-03-31 285.61 29.86 1.89
2014-12-31 258.51 96.29 4.17
2014-09-30 258.51 96.29 4.17
2014-06-30 261.60 42.04 8.80
2014-03-31 261.60 42.04 8.80
2013-12-31 219.83 83.57 1.71
2013-09-30 219.83 83.57 1.71
2013-06-30 207.74 42.34 3.02
  • Cedar Woods Properties's level of debt (38.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (36.9% vs 38.9% today).
  • Debt is not well covered by operating cash flow (15%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.7x coverage).
X
Financial health checks
We assess Cedar Woods Properties'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. Cedar Woods Properties has a total score of 3/6, 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.

CWP Dividends

 What is Cedar Woods Properties'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
5.81%
Current annual income from Cedar Woods Properties dividends. Estimated to be 6.44% next year.
If you bought A$2,000 of Cedar Woods Properties shares you are expected to receive A$116 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?
  • Cedar Woods Properties's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (3.15%).
  • Cedar Woods Properties's dividend is below the markets top 25% of dividend payers in Australia (8%).
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:CWP 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 2 Analyst Estimates (S&P Global) See Below
Australia Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 4.8%
Australia Market Average Dividend Yield Market Cap Weighted Average of 371 Stocks 5.3%
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:CWP Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.33 1.00
2021-06-30 0.25 2.00
2020-06-30 0.28 2.00
2020-04-02
ASX:CWP Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-18 0.250 4.705
2019-08-27 0.315 4.312
2019-02-25 0.360 6.207
2018-08-21 0.300 5.692
2018-02-21 0.300 4.929
2017-08-21 0.300 5.235
2017-02-21 0.285 5.434
2016-08-24 0.285 5.738
2015-08-25 0.280 6.455
2014-08-19 0.275 4.679
2014-02-26 0.270 3.669
2013-08-20 0.260 3.697
2013-01-07 0.250 4.682
2012-08-20 0.250 6.042
2011-08-23 0.240 6.675
2011-02-22 0.220 5.225
2010-08-24 0.160 4.840
2010-02-22 0.100 4.103
2009-08-21 0.070 2.938

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 Cedar Woods Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Cedar Woods Properties'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 Cedar Woods Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cedar Woods Properties 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.

CWP Management

 What is the CEO of Cedar Woods Properties'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
Nathan Blackburne
COMPENSATION A$997,009
TENURE AS CEO 2.6 years
CEO Bio

Mr. Nathan John Blackburne, BB, AMP, GAID has been Managing Director of Cedar Woods Properties Limited since September 18, 2017. Mr. Blackburne served as the Chief Operating Officer of Cedar Woods Properties Ltd from September 1, 2016 to September 18, 2017. Mr. Blackburne served as State Manager - Victoria and Queensland at Cedar Woods Properties Ltd until September 1, 2016. Mr. Blackburne joined Cedar Woods early in 2002 to establish the Victorian office and manage the Laverton project and has with him over 9 years experience in various sectors of the property industry. He has been a Director of Cedar Woods Properties Limited since September 18, 2017. He has Bachelor of Business degree majoring in Valuation and Land Economy from Curtin University and has experience across several sectors in the property industry. His background is in acquisition and management of large scale mixed-use development projects.

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

Average tenure of the Cedar Woods Properties management team in years:

2.6
Average Tenure
  • The tenure for the Cedar Woods Properties management team is about average.
Management Team

William Hames

TITLE
Founder & Chairman
COMPENSATION
A$164K

Nathan Blackburne

TITLE
MD & Executive Director
COMPENSATION
A$997K
TENURE
2.6 yrs

Leon Hanrahan

TITLE
Chief Financial Officer
COMPENSATION
A$349K
TENURE
1.8 yrs

Patrick Archer

TITLE
Chief Operating Officer
COMPENSATION
A$516K
TENURE
2.4 yrs

Paul Freedman

TITLE
Company Secretary
COMPENSATION
A$281K
TENURE
22.3 yrs

Ben Rosser

TITLE
State Manager of Western Australia
COMPENSATION
A$392K
TENURE
4.8 yrs
Board of Directors Tenure

Average tenure of the Cedar Woods Properties board of directors in years:

3.6
Average Tenure
  • The tenure for the Cedar Woods Properties board of directors is about average.
Board of Directors

William Hames

TITLE
Founder & Chairman
COMPENSATION
A$164K

Nathan Blackburne

TITLE
MD & Executive Director
COMPENSATION
A$997K
TENURE
2.6 yrs

Rob Brown

TITLE
Deputy Chairman
COMPENSATION
A$127K
AGE
66

Valerie Davies

TITLE
Independent Non-Executive Director
COMPENSATION
A$89K
AGE
68
TENURE
4.6 yrs

Jane Muirsmith

TITLE
Independent Non-Executive Director
COMPENSATION
A$89K
TENURE
2.5 yrs

Ron Packer

TITLE
Lead Independent Director
COMPENSATION
A$128K
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Cedar Woods Properties individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
01. Apr 20 Sell AustralianSuper Pty. Ltd. Company 12. Apr 17 28. Feb 20 -307,846 A$7.51 A$-2,310,777
01. Apr 20 Buy AustralianSuper Pty. Ltd. Company 18. May 17 27. Mar 20 1,604,897 A$8.22 A$13,192,255
23. Mar 20 Buy Nathan Blackburne Individual 19. Mar 20 19. Mar 20 4,265 A$4.69 A$20,003
05. Sep 19 Sell Westland Group Holdings Pty Ltd Company 03. Sep 19 03. Sep 19 -163,951 A$6.47 A$-1,060,121
22. May 19 Sell Westoz Funds Management Pty Ltd. Company 24. Mar 17 21. May 19 -1,179,816 A$5.75 A$-6,786,812
X
Management checks
We assess Cedar Woods Properties'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. Cedar Woods Properties 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.

CWP News

Simply Wall St News

Cedar Woods Properties Limited (ASX:CWP): Earnings To Drop Next Year

As Cedar Woods Properties Limited (ASX:CWP) announced its recent earnings release on 30 June 2019, analyst forecasts appear to be pessimistic, as a 3.7% fall in profits is expected in the upcoming year relative to the past 5-year average growth rate of 8.7%. … In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Cedar Woods Properties in the longer term. … View our latest analysis for Cedar Woods Properties What can we expect from Cedar Woods Properties in the longer term?

Simply Wall St -

What Kind Of Shareholder Appears On The Cedar Woods Properties Limited's (ASX:CWP) Shareholder Register?

The big shareholder groups in Cedar Woods Properties Limited (ASX:CWP) have power over the company. … View our latest analysis for Cedar Woods Properties ASX:CWP Ownership Summary, August 19th 2019 What Does The Institutional Ownership Tell Us About Cedar Woods Properties? … Insider Ownership Of Cedar Woods Properties The definition of company insiders can be subjective, and does vary between jurisdictions.

Simply Wall St -

Does Cedar Woods Properties (ASX:CWP) Deserve A Spot On Your Watchlist?

Check out our latest analysis for Cedar Woods Properties How Fast Is Cedar Woods Properties Growing? … We haven't seen any insiders selling Cedar Woods Properties shares, in the last year. … The good news, alongside the insider buying, for Cedar Woods Properties bulls is that insiders (collectively) have a meaningful investment in the stock.

Simply Wall St -

Why Cedar Woods Properties Limited (ASX:CWP) Looks Like A Quality Company

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Cedar Woods Properties: 19% = AU$70m ÷ AU$373m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Cedar Woods Properties Have A Good ROE? … Cedar Woods Properties's Debt And Its 19% ROE While Cedar Woods Properties does have some debt, with debt to equity of just 0.38, we wouldn't say debt is excessive.

Simply Wall St -

Does Cedar Woods Properties's (ASX:CWP) Share Price Gain of 33% Match Its Business Performance?

For example, Cedar Woods Properties Limited (ASX:CWP) shareholders have seen the share price rise 33% over three years, well in excess of the market return (22%, not including dividends). … Cedar Woods Properties was able to grow its EPS at 10% per year over three years, sending the share price higher. … ASX:CWP Past and Future Earnings, July 11th 2019 We know that Cedar Woods Properties has improved its bottom line lately, but is it going to grow revenue?

Simply Wall St -

Why Cedar Woods Properties Limited (ASX:CWP) Should Be In Your Dividend Portfolio

In this case, Cedar Woods Properties likely looks attractive to investors, given its 6.0% dividend yield and a payment history of over ten years. … Cedar Woods Properties has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … It's good to see Cedar Woods Properties has been growing its earnings per share at 12% a year over the past 5 years.

Simply Wall St -

A Look At The Intrinsic Value Of Cedar Woods Properties Limited (ASX:CWP)

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (A$, Millions) A$65.10 A$82.70 A$51.80 A$35.49 A$27.91 A$23.93 A$21.71 A$20.45 A$19.76 A$19.43 Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x1 Est @ -31.49% Est @ -21.35% Est @ -14.25% Est @ -9.28% Est @ -5.8% Est @ -3.37% Est @ -1.66% Present Value (A$, Millions) Discounted @ 9.13% A$59.65 A$69.44 A$39.86 A$25.02 A$18.03 A$14.17 A$11.78 A$10.17 A$9.00 A$8.11 Present Value of 10-year Cash Flow (PVCF)= A$265.22m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = AU$19m × (1 + 2.3%) ÷ (9.1% – 2.3%) = AU$292m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = A$AU$292m ÷ ( 1 + 9.1%)10 = A$121.69m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is A$386.91m. … ASX:CWP Intrinsic value, May 20th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

What Kind Of Shareholder Appears On The Cedar Woods Properties Limited's (ASX:CWP) Shareholder Register?

A look at the shareholders of Cedar Woods Properties Limited (ASX:CWP) can tell us which group is most powerful. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Cedar Woods Properties is a smaller company with a market capitalization of AU$436m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Do You Like Cedar Woods Properties Limited (ASX:CWP) At This P/E Ratio?

We'll look at Cedar Woods Properties Limited's (ASX:CWP) P/E ratio and reflect on what it tells us about the company's share price. … Cedar Woods Properties has a price to earnings ratio of 6.25, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Does Cedar Woods Properties (ASX:CWP) Deserve A Spot On Your Watchlist?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Cedar Woods Properties (ASX:CWP). … Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. … While Cedar Woods Properties did well to grow revenue over the last year, EBIT margins were dampened at the same time.

Simply Wall St -

CWP Company Info

Description

Cedar Woods Properties Limited engages in property investment and development activities in Australia. It is involved in the urban land subdivision and development of residential, commercial, and retail projects in Western Australia, Victoria, Queensland, and South Australia. The company’s property portfolio also includes medium and high-density apartments, townhouses, and office developments. Cedar Woods Properties Limited was founded in 1987 and is headquartered in West Perth, Australia.

Details
Name: Cedar Woods Properties Limited
CWP
Exchange: ASX
Founded: 1987
A$355,579,390
80,447,826
Website: http://www.cedarwoods.com.au
Address: Cedar Woods Properties Limited
50 Colin Street,
Ground Floor,
West Perth,
Western Australia, 6005,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CWP Ordinary Shares Australian Securities Exchange AU AUD 23. Sep 1994
CHIA CWP Ordinary Shares Chi-X Australia AU AUD 23. Sep 1994
Number of employees
Current staff
Staff numbers
95
Cedar Woods Properties employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 10:32
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/31
Last earnings filing: 2020/02/18
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.