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Guardian Capital Group

TSX:GCG
Snowflake Description

Undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GCG
TSX
CA$441M
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Guardian Capital Group Limited, together with its subsidiaries, operates as a diversified financial services company in Canada, the United Kingdom, the United States, and the Caribbean. The last earnings update was 19 days ago. More info.


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  • Guardian Capital Group has significant price volatility in the past 3 months.
GCG Share Price and Events
7 Day Returns
-7.7%
TSX:GCG
2.8%
CA Capital Markets
7.1%
CA Market
1 Year Returns
-27.1%
TSX:GCG
-18.5%
CA Capital Markets
-25.3%
CA Market
GCG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Guardian Capital Group (GCG) -7.7% -34% -34.8% -27.1% -32.7% -9.8%
CA Capital Markets 2.8% -24.6% -26.7% -18.5% -19.3% -20.5%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • GCG underperformed the Capital Markets industry which returned -18.5% over the past year.
  • GCG underperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
GCG
Industry
5yr Volatility vs Market

GCG Value

 Is Guardian Capital Group 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 Guardian Capital Group 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 Guardian Capital Group.

TSX:GCG 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
= CA$23.27 * 11.5%
CA$2.68
Book Value of Equity per Share Median Book Value from the past 5 years. CA$23.27
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

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 TSX:GCG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 26.5%) (29.18%))
0.944
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (0.944 * 5.44%)
6.57%

Discounted Cash Flow Calculation for TSX:GCG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Guardian Capital Group 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.

TSX:GCG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.5% – 6.57%) * CA$23.27)
CA$1.15
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$1.15 / (6.57% - 1.44%)
CA$22.31
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$23.27 + CA$22.31
CA$45.58
TSX:GCG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:GCG represents 1.0145x of TSX:GCG.A
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.0145x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 45.58 x 1.0145
CA$46.24
Value per share (CAD) From above. CA$46.24
Current discount Discount to share price of CA$17.50
= -1 x (CA$17.50 - CA$46.24) / CA$46.24
62.2%

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

Current Discount
Amount off the current price Guardian Capital Group is available for.
Intrinsic value
>50%
Share price is CA$17.5 vs Future cash flow value of CA$46.24
Current Discount Checks
For Guardian Capital Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Guardian Capital Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Guardian Capital Group'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 Guardian Capital Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Guardian Capital Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:GCG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$4.77
TSX:GCG.A Share Price ** TSX (2020-03-26) in CAD CA$17.25
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

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

** Primary Listing of Guardian Capital Group.

TSX:GCG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:GCG.A Share Price ÷ EPS (both in CAD)

= 17.25 ÷ 4.77

3.61x

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

  • Guardian Capital Group is good value based on earnings compared to the CA Capital Markets industry average.
  • Guardian Capital Group is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Guardian Capital Group's expected growth come at a high price?
Raw Data
TSX:GCG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-72.4%per year
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.84x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

TSX:GCG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.61x ÷ -72.4%

-0.05x

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

  • Guardian Capital Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Guardian Capital Group's assets?
Raw Data
TSX:GCG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$26.73
TSX:GCG.A Share Price * TSX (2020-03-26) in CAD CA$17.25
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:GCG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:GCG.A Share Price ÷ Book Value per Share (both in CAD)

= 17.25 ÷ 26.73

0.65x

* Primary Listing of Guardian Capital Group.

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

  • Guardian Capital Group is good value based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Guardian Capital Group'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Guardian Capital Group 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.

GCG Future Performance

 How is Guardian Capital Group expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
-72.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Guardian Capital Group expected to grow at an attractive rate?
  • Guardian Capital Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.4%.
Growth vs Market Checks
  • Guardian Capital Group's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Guardian Capital Group's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:GCG Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:GCG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -72.4%
TSX:GCG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3.4%
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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
TSX:GCG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:GCG Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 199 33 1
2020-12-31 189 30 1
2020-03-29
TSX:GCG Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 186 49 123
2019-09-30 181 54 22
2019-06-30 177 50 48
2019-03-31 174 47 56
2018-12-31 172 47 -17
2018-09-30 166 44 97
2018-06-30 160 42 75
2018-03-31 154 40 57
2017-12-31 151 45 97
2017-09-30 150 45 72
2017-06-30 149 39 77
2017-03-31 146 38 79

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Guardian Capital Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Guardian Capital Group's revenue is expected to grow by 3.4% 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
TSX:GCG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Guardian Capital Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:GCG Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.19 1.19 1.19 1.00
2020-12-31 1.07 1.07 1.07 1.00
2020-03-29
TSX:GCG Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 4.77
2019-09-30 0.84
2019-06-30 1.82
2019-03-31 2.12
2018-12-31 -0.63
2018-09-30 3.59
2018-06-30 2.75
2018-03-31 2.07
2017-12-31 3.49
2017-09-30 2.59
2017-06-30 2.76
2017-03-31 2.80

*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 Guardian Capital Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Guardian Capital Group'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 North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America 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.
Guardian Capital Group 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.

GCG Past Performance

  How has Guardian Capital Group 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 Guardian Capital Group's growth in the last year to its industry (Capital Markets).
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.
  • Guardian Capital Group's year on year earnings growth rate has been positive over the past 5 years.
  • Guardian Capital Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Guardian Capital Group has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
Guardian Capital Group'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 Guardian Capital Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:GCG Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 186.10 123.12
2019-09-30 180.54 21.88
2019-06-30 177.33 47.93
2019-03-31 174.29 56.48
2018-12-31 171.51 -16.95
2018-09-30 166.31 97.48
2018-06-30 159.85 75.47
2018-03-31 154.14 57.33
2017-12-31 151.24 96.82
2017-09-30 150.38 72.25
2017-06-30 149.25 77.30
2017-03-31 146.23 78.94
2016-12-31 142.69 69.48
2016-09-30 138.80 67.20
2016-06-30 136.80 55.90
2016-03-31 135.68 56.61
2015-12-31 132.91 44.11
2015-09-30 130.05 35.19
2015-06-30 127.67 36.85
2015-03-31 123.86 37.41
2014-12-31 119.28 37.02
2014-09-30 115.69 43.77
2014-06-30 110.06 45.01
2014-03-31 105.84 39.81
2013-12-31 101.28 34.43
2013-09-30 97.52 25.37
2013-06-30 93.71 25.17
2013-03-31 89.09 20.09

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

GCG Health

 How is Guardian Capital Group'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 Guardian Capital Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Guardian Capital Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Guardian Capital Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Guardian Capital Group'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 2.3x 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 Guardian Capital Group Company Filings, last reported 2 months ago.

TSX:GCG Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 694.20 113.73 141.45
2019-09-30 663.96 120.39 75.93
2019-06-30 658.45 126.05 68.21
2019-03-31 668.51 141.32 81.89
2018-12-31 611.98 138.90 94.09
2018-09-30 684.77 133.16 103.69
2018-06-30 660.05 144.36 92.50
2018-03-31 631.06 128.46 92.66
2017-12-31 641.20 55.86 101.52
2017-09-30 614.32 80.10 125.53
2017-06-30 609.49 65.21 97.64
2017-03-31 610.85 66.80 105.01
2016-12-31 585.47 62.66 115.24
2016-09-30 550.19 51.51 201.15
2016-06-30 518.67 48.52 199.41
2016-03-31 502.10 65.22 170.96
2015-12-31 508.53 54.76 134.91
2015-09-30 474.58 51.68 91.84
2015-06-30 477.77 62.55 91.63
2015-03-31 481.54 64.25 70.65
2014-12-31 492.23 51.31 90.96
2014-09-30 485.43 54.70 78.46
2014-06-30 466.33 57.10 83.61
2014-03-31 441.26 66.08 86.57
2013-12-31 417.79 55.93 85.73
2013-09-30 396.34 63.87 82.90
2013-06-30 357.20 64.67 60.28
2013-03-31 370.55 63.46 23.91
  • Guardian Capital Group's level of debt (16.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (10.5% vs 16.4% today).
  • Debt is well covered by operating cash flow (43.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.2x coverage).
X
Financial health checks
We assess Guardian Capital Group'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. Guardian Capital Group 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.

GCG Dividends

 What is Guardian Capital Group'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
3.71%
Current annual income from Guardian Capital Group dividends. Estimated to be 4% next year.
If you bought CA$2,000 of Guardian Capital Group shares you are expected to receive CA$74 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?
  • Guardian Capital Group's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • Guardian Capital Group's dividend is below the markets top 25% of dividend payers in Canada (8.79%).
Upcoming dividend payment

Purchase Guardian Capital Group before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
TSX:GCG 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 1 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.1%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

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

TSX:GCG Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.71 2.00
2020-12-31 0.68 2.00
2020-03-29
TSX:GCG Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-10 0.640 3.567
2019-11-07 0.600 2.226
2019-08-08 0.600 2.411
2019-05-09 0.600 2.468
2019-02-21 0.600 2.530
2018-11-08 0.500 2.207
2018-08-10 0.500 2.046
2018-05-10 0.500 2.123
2018-03-13 0.500 2.042
2017-11-09 0.400 1.574
2017-08-11 0.400 1.599
2017-05-11 0.400 1.479
2017-02-22 0.400 1.536
2016-11-10 0.340 1.402
2016-08-11 0.340 1.554
2016-05-12 0.340 1.628
2016-02-24 0.340 1.868
2015-11-12 0.300 1.728
2015-08-12 0.300 1.725
2015-05-12 0.300 1.597
2015-02-26 0.300 1.650
2014-11-10 0.260 1.488
2014-08-11 0.260 1.459
2014-05-30 0.260 1.551
2014-02-27 0.220 1.334
2013-11-11 0.220 1.404
2013-08-09 0.200 1.429
2013-05-13 0.200 1.482
2013-03-01 0.200 1.489
2012-08-09 0.170 1.622
2012-02-22 0.170 1.779
2011-02-24 0.160 1.593
2010-02-25 0.150 1.797

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Guardian Capital Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Guardian Capital Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Guardian Capital Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Guardian Capital Group has a total score of 5/6, see the detailed checks below.


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

GCG Management

 What is the CEO of Guardian Capital Group'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
George Mavroudis
COMPENSATION CA$2,525,398
TENURE AS CEO 8.6 years
CEO Bio

Mr. George Mavroudis, CA, CFP, serves as the Chief Executive Officer and Director at Guardian Capital LP. Mr. Mavroudis serves as the Chief Executive Officer at Guardian Capital Group Ltd. He has been the President at Guardian Capital Group Ltd. since January 2009 and has been its Director since November 11, 2011. He serves as the Chief Executive Officer and Managing Director of Guardian Capital Advisors L.P. He joined Guardian in 2005 as a senior executive and progressively assumed overall responsibility for the business management of the investment operations at Guardian, including both institutional and private wealth management. Mr. Mavroudis served as a Managing Director at JPMorgan Fleming Asset Management where he served from 1999 to 2005 in several senior business management roles across their network of offices including London, New York and Toronto. He was also based in Moscow, Russia from 1995 to 1999 where he founded and served as the Chief Executive Officer for Robert Fleming's institutional brokerage and investment banking business in Russia. He started his professional experience in 1992 with Coopers & Lybrand. He earned his Chartered Accountant designation in 1995. He is a graduate of the University of Toronto with a Bachelor of Commerce.

CEO Compensation
  • George's compensation has increased in line with Guardian Capital Group recently becoming profitable.
  • George's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Guardian Capital Group management team in years:

2.5
Average Tenure
  • The tenure for the Guardian Capital Group management team is about average.
Management Team

George Mavroudis

TITLE
President
COMPENSATION
CA$3M
TENURE
8.6 yrs

Donald Yi

TITLE
Chief Financial Officer
COMPENSATION
CA$656K
TENURE
6.6 yrs

Matt Turner

TITLE
Senior VP & Chief Compliance Officer
COMPENSATION
CA$681K

Robin Lacey

TITLE
Head of Institutional Asset Management
COMPENSATION
CA$807K
TENURE
2.5 yrs

Steve Bates

TITLE
Chief Investment Officer and Chief Investment Officer of Guardian Capital's UK Investment Business
AGE
61

Docé Tomic

TITLE
Head of Wealth Management & Head of Technology
TENURE
0.5 yrs

Rachel Hindson

TITLE
Vice President of Legal

Angela Shim

TITLE
Vice President of Marketing & Corporate Initiatives

Ashleigh Currie

TITLE
Vice President of Human Resources
TENURE
0.2 yrs

Sri Iyer

TITLE
MD & Head of Systematic Strategies
Board of Directors Tenure

Average tenure of the Guardian Capital Group board of directors in years:

8.3
Average Tenure
  • The tenure for the Guardian Capital Group board of directors is about average.
Board of Directors

James Anas

TITLE
Independent Chairman of the Board
COMPENSATION
CA$112K
TENURE
8.3 yrs

George Mavroudis

TITLE
President
COMPENSATION
CA$3M
TENURE
8.3 yrs

Mike Christodoulou

TITLE
Senior VP of Strategic Planning & Development and Director
TENURE
8.6 yrs

Paul Brown

TITLE
Chairman of Worldsource Wealth Management Inc.
COMPENSATION
CA$883K

Harold Hillier

TITLE
Independent Director
COMPENSATION
CA$77K
TENURE
8.8 yrs

Barry Myers

TITLE
Independent Director
COMPENSATION
CA$84K
TENURE
10.3 yrs

Edward McDermott

TITLE
Independent Director
COMPENSATION
CA$76K
TENURE
6.8 yrs

Hans-Georg Rudloff

TITLE
Independent Director
COMPENSATION
CA$58K
AGE
79
TENURE
5.8 yrs

Petros Christodoulou

TITLE
Independent Director
COMPENSATION
CA$57K
AGE
59
TENURE
3.8 yrs

Marilyn De Mara

TITLE
Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Guardian Capital Group 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 (CA$) Value (CA$)
18. Mar 20 Buy Matthew Turner Individual 17. Mar 20 17. Mar 20 100 CA$17.80 CA$1,780
30. Sep 19 Buy Matthew Turner Individual 27. Sep 19 27. Sep 19 1,000 CA$24.20 CA$24,200
30. Sep 19 Buy George Mavroudis Individual 27. Sep 19 27. Sep 19 4,000 CA$24.20 CA$96,799
30. Sep 19 Buy Petros Christodoulou Individual 26. Sep 19 26. Sep 19 5,000 CA$24.20 CA$121,000
17. Apr 19 Buy Matthew Turner Individual 15. Apr 19 15. Apr 19 1,000 CA$23.00 CA$22,994
X
Management checks
We assess Guardian Capital Group'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. Guardian Capital Group 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.

GCG News

Simply Wall St News

GCG Company Info

Description

Guardian Capital Group Limited, together with its subsidiaries, operates as a diversified financial services company in Canada, the United Kingdom, the United States, and the Caribbean. The company manages institutional assets for pension plans, insurers, foundations, endowments, third-party mutual funds, and ETFs; and provides private wealth management services to individuals, families, and charitable organizations. It also offers trust and corporate administration, investment management, and banking services for international clients; and an integrated wealth management platform for financial advisors to deliver professional advice on mutual funds, securities, and insurance. In addition, the company engages in the sale of life insurance products, mutual funds, and other securities. Guardian Capital Group Limited was founded in 1962 and is headquartered in Toronto, Canada.

Details
Name: Guardian Capital Group Limited
GCG
Exchange: TSX
Founded: 1962
CA$441,309,737
25,541,651
Website: http://www.guardiancapital.com
Address: Guardian Capital Group Limited
Commerce Court West,
Suite 3100,
Toronto,
Ontario, M5L 1E8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX GCG.A Class A Shares The Toronto Stock Exchange CA CAD 08. Aug 1986
OTCPK GCAA.F Class A Shares Pink Sheets LLC US USD 08. Aug 1986
TSX GCG Common Shares The Toronto Stock Exchange CA CAD 06. Jan 1976
Number of employees
Current staff
Staff numbers
439
Guardian Capital Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 00:09
End of day share price update: 2020/03/26 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.