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Ultra Electronics Holdings

DB:UEH
Snowflake Description

Solid track record established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UEH
DB
£1B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Ultra Electronics Holdings plc, an electrical and electronics engineering company, provides various solutions and products in the defense and aerospace, security, transport, and energy markets. The last earnings update was 67 days ago. More info.


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UEH Share Price and Events
7 Day Returns
-0.4%
DB:UEH
0.8%
Europe Aerospace & Defense
2.8%
DE Market
1 Year Returns
40.5%
DB:UEH
11.7%
Europe Aerospace & Defense
3%
DE Market
UEH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ultra Electronics Holdings (UEH) -0.4% -4.8% 15.7% 40.5% 4.6% 4.3%
Europe Aerospace & Defense 0.8% -3.8% 0.9% 11.7% 67.1% 114.9%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • UEH outperformed the Aerospace & Defense industry which returned 11.7% over the past year.
  • UEH outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
UEH
Industry
5yr Volatility vs Market

UEH Value

 Is Ultra Electronics Holdings undervalued based on future cash flows and its price relative to the stock market?

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

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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ultra Electronics Holdings.

DB:UEH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:UEH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.864 (1 + (1- 19%) (21.69%))
1.011
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.011 * 6.65%)
6.95%

Discounted Cash Flow Calculation for DB:UEH using 2 Stage Free Cash Flow to Equity Model

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

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

DB:UEH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.95%)
2020 71.75 Analyst x6 67.09
2021 78.98 Analyst x6 69.05
2022 81.00 Analyst x1 66.22
2023 82.37 Est @ 1.69% 62.96
2024 83.40 Est @ 1.25% 59.61
2025 84.19 Est @ 0.95% 56.27
2026 84.81 Est @ 0.73% 52.99
2027 85.30 Est @ 0.58% 49.84
2028 85.70 Est @ 0.47% 46.82
2029 86.05 Est @ 0.4% 43.96
Present value of next 10 years cash flows £574.00
DB:UEH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £86.05 × (1 + 0.23%) ÷ (6.95% – 0.23%)
£1,283.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,283.38 ÷ (1 + 6.95%)10
£655.59
DB:UEH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £574.00 + £655.59
£1,229.59
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,229.59 / 70.69
£17.4
DB:UEH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:UEH represents 1.1334x of LSE:ULE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.1334x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 17.40 x 1.1334
€19.72
Value per share (EUR) From above. €19.72
Current discount Discount to share price of €22.26
= -1 x (€22.26 - €19.72) / €19.72
-12.9%

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

  • The current share price of Ultra Electronics Holdings 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 Ultra Electronics Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ultra Electronics Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:UEH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.67
LSE:ULE Share Price ** LSE (2019-10-11) in GBP £19.64
Europe Aerospace & Defense Industry PE Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 21.4x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

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

** Primary Listing of Ultra Electronics Holdings.

DB:UEH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:ULE Share Price ÷ EPS (both in GBP)

= 19.64 ÷ 0.67

29.43x

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

  • Ultra Electronics Holdings is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • Ultra Electronics Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Ultra Electronics Holdings's expected growth come at a high price?
Raw Data
DB:UEH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
8.9%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 26 Publicly-Listed Aerospace & Defense Companies 1.59x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:UEH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.43x ÷ 8.9%

3.32x

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

  • Ultra Electronics Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ultra Electronics Holdings's assets?
Raw Data
DB:UEH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £6.01
LSE:ULE Share Price * LSE (2019-10-11) in GBP £19.64
Europe Aerospace & Defense Industry PB Ratio Median Figure of 49 Publicly-Listed Aerospace & Defense Companies 1.96x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:UEH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:ULE Share Price ÷ Book Value per Share (both in GBP)

= 19.64 ÷ 6.01

3.27x

* Primary Listing of Ultra Electronics Holdings.

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

  • Ultra Electronics Holdings is overvalued based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess Ultra Electronics Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense 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 Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Ultra Electronics Holdings has a total score of 0/6, 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.

UEH Future Performance

 How is Ultra Electronics Holdings expected to perform in the next 1 to 3 years based on estimates from 10 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
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ultra Electronics Holdings expected to grow at an attractive rate?
  • Ultra Electronics Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Ultra Electronics Holdings's earnings growth is positive but not above the Germany market average.
  • Ultra Electronics Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:UEH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:UEH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 8.9%
DB:UEH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 4.1%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 14.2%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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
DB:UEH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:UEH Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 927 83 2
2021-12-31 871 113 71 7
2020-12-31 837 107 69 10
2019-12-31 806 64 64 9
2019-10-13
DB:UEH Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 803 96 48
2019-03-31 785 91 40
2018-12-31 767 87 32
2018-09-30 763 80 35
2018-06-30 760 73 38
2018-03-31 767 75 43
2017-12-31 775 78 49
2017-09-30 780 79 53
2017-06-30 786 80 58
2017-03-31 786 87 58
2016-12-31 786 93 58
2016-09-30 773 77 51
2016-07-01 761 62 44

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ultra Electronics Holdings's earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
  • Ultra Electronics Holdings's revenue is expected to grow by 4.1% 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
DB:UEH 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 10 Analyst Estimates (S&P Global) See Below

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

DB:UEH Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 1.00 1.06 0.90 4.00
2020-12-31 0.97 1.19 0.85 5.00
2019-12-31 0.90 1.14 0.79 5.00
2019-10-13
DB:UEH Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.67
2019-03-31 0.55
2018-12-31 0.44
2018-09-30 0.46
2018-06-30 0.49
2018-03-31 0.57
2017-12-31 0.66
2017-09-30 0.74
2017-06-30 0.82
2017-03-31 0.82
2016-12-31 0.83
2016-09-30 0.72
2016-07-01 0.62

*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.
  • Ultra Electronics Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Ultra Electronics Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Ultra Electronics Holdings has a total score of 1/6, 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.

UEH Past Performance

  How has Ultra Electronics Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ultra Electronics Holdings's growth in the last year to its industry (Aerospace & Defense).
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.
  • Ultra Electronics Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Ultra Electronics Holdings's 1-year earnings growth exceeds its 5-year average (27.4% vs 14.6%)
  • Ultra Electronics Holdings's earnings growth has exceeded the Europe Aerospace & Defense industry average in the past year (27.4% vs 16.4%).
Earnings and Revenue History
Ultra Electronics Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

DB:UEH Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 803.36 47.91 136.65
2019-03-31 785.05 40.15 139.44
2018-12-31 766.75 32.38 142.22
2018-09-30 763.13 35.00 139.32
2018-06-30 759.52 37.62 136.42
2018-03-31 767.46 43.29 137.54
2017-12-31 775.40 48.96 138.66
2017-09-30 780.47 53.39 144.46
2017-06-30 785.54 57.82 150.26
2017-03-31 785.65 58.04 149.61
2016-12-31 785.76 58.26 148.96
2016-09-30 773.48 50.94 150.19
2016-07-01 761.19 43.61 151.43
2016-04-01 743.74 34.30 149.54
2015-12-31 726.29 24.99 147.65
2015-09-30 715.39 8.50 148.58
2015-06-30 704.50 -7.99 149.51
2015-03-31 709.12 6.41 146.37
2014-12-31 713.74 20.80 143.23
2014-09-30 716.05 31.87 131.78
2014-06-30 718.36 42.93 120.33
2014-03-31 731.76 40.55 126.00
2013-12-31 745.15 38.16 131.66
2013-09-30 751.78 51.74 138.26
2013-06-30 758.41 65.31 144.85
2013-03-31 759.62 63.14 145.27
2012-12-31 760.83 60.96 145.70

*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.
  • Ultra Electronics Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ultra Electronics Holdings used its assets more efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • Ultra Electronics Holdings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ultra Electronics Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense 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.
Ultra Electronics Holdings has a total score of 5/6, 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.

UEH Health

 How is Ultra Electronics Holdings's financial health and their level of debt?

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

The boxes below represent the relative size of what makes up Ultra Electronics Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ultra Electronics Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ultra Electronics Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ultra Electronics Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x 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 Ultra Electronics Holdings Company Filings, last reported 3 months ago.

DB:UEH Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 424.22 301.14 92.94
2019-03-31 424.22 301.14 92.94
2018-12-31 420.79 253.72 96.32
2018-09-30 420.79 253.72 96.32
2018-06-30 444.13 294.43 124.35
2018-03-31 444.13 294.43 124.35
2017-12-31 512.21 223.98 149.52
2017-09-30 512.21 223.98 149.52
2017-06-30 367.82 340.75 80.39
2017-03-31 367.82 340.75 80.39
2016-12-31 363.57 331.33 74.63
2016-09-30 363.57 331.33 74.63
2016-07-01 359.93 365.17 39.78
2016-04-01 359.93 365.17 39.78
2015-12-31 316.84 341.05 45.47
2015-09-30 316.84 341.05 45.47
2015-06-30 299.76 191.80 41.88
2015-03-31 299.76 191.80 41.88
2014-12-31 303.45 170.75 41.26
2014-09-30 303.45 170.75 41.26
2014-06-30 334.34 183.84 46.10
2014-03-31 334.34 183.84 46.10
2013-12-31 321.18 72.66 30.57
2013-09-30 321.18 72.66 30.57
2013-06-30 351.35 96.92 50.33
2013-03-31 351.35 96.92 50.33
2012-12-31 314.23 73.75 30.84
  • Ultra Electronics Holdings's level of debt (71%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55% vs 71% today).
  • Debt is well covered by operating cash flow (31.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Financial health checks
We assess Ultra Electronics Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ultra Electronics Holdings 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.

UEH Dividends

 What is Ultra Electronics Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.63%
Current annual income from Ultra Electronics Holdings dividends. Estimated to be 2.85% next year.
If you bought €2,000 of Ultra Electronics Holdings shares you are expected to receive €53 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?
  • Ultra Electronics Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Ultra Electronics Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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
DB:UEH 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 10 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

DB:UEH Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.60 2.00
2021-12-31 0.58 8.00
2020-12-31 0.55 10.00
2019-12-31 0.54 8.00
2019-10-13
DB:UEH Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-03-27 0.516 2.899
2019-03-06 0.516 3.325
2018-08-13 0.496 3.492
2018-03-12 0.496 3.234
2018-03-05 0.496 3.536
2017-03-22 0.478 2.792
2017-03-06 0.478 2.212
2016-03-24 0.461 2.543
2016-02-29 0.461 2.595
2015-03-02 0.443 2.465
2015-02-27 0.443 2.528
2014-08-19 0.427 2.415
2014-03-27 0.422 2.363
2014-03-03 0.422 2.308
2013-08-07 0.405 2.130
2013-03-04 0.400 2.318
2012-02-29 0.385 2.368
2012-02-27 0.385 2.275
2011-02-28 0.346 2.205
2011-02-25 0.346 1.975
2010-03-01 0.312 1.899
2009-08-17 0.276 2.106
2009-03-02 0.260 2.275

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 Ultra Electronics Holdings'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 well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Ultra Electronics Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Ultra Electronics Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ultra Electronics Holdings 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.

UEH Management

 What is the CEO of Ultra Electronics Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Simon Pryce
COMPENSATION £1,059,670
AGE 57
TENURE AS CEO 1.3 years
CEO Bio

Mr. Simon Pryce has been Chief Executive Officer and Director at Ultra Electronics Holdings plc since June 18, 2018. He served as the Group Chief Executive Officer of BBA Aviation Plc from June 11, 2007 to June 30, 2017. Mr. Pryce served at GKN Plc for 9 years in a variety of roles, served as the Chief Executive Officer of GKN's Diversified Businesses Group. He served as Director of Finance and Controlling, GKN Driveline at GKN PLC. He served as Senior Vice President at JP Morgan & Co and a Director of Lazard. Mr. Pryce serves as a Director of General Aviation Manufacturers Association. He joined Electrocomponents plc in September 2016. He has been an Independent Non-Executive Director of Electrocomponents plc since September 26, 2016. He served as an Executive Director of BBA Aviation Plc from June 11, 2007 to June 30, 2017. He is a member of the Council of The University of Reading. He is a Chartered Accountant and has previously worked in investment banking. He is a Member of the Chartered Institute of Securities & Investment, a Fellow of the Royal Aeronautical Society. He held a range of international finance and management roles at GKN plc, JP Morgan and Lazards in London and New York. Mr. Pryce holds a BSc from the University of Reading. His Skills and experience includes: • Strategy • International operations • Emerging markets • Manufacturing • Mergers and acquisitions • Integration • Strategic financing and capital markets • Leadership • Service industry • Group Chief Executive

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

Average tenure of the Ultra Electronics Holdings management team in years:

2.4
Average Tenure
  • The tenure for the Ultra Electronics Holdings management team is about average.
Management Team

Simon Pryce

TITLE
CEO & Director
COMPENSATION
£1M
AGE
57
TENURE
1.3 yrs

Ami Sharma

TITLE
Group Finance Director & Executive Director
COMPENSATION
£726K
AGE
52
TENURE
3.4 yrs

Carlos Santiago

TITLE
COO & Executive VP of Commercial & Corporate Affairs

Gabby Clinkard

TITLE
Head of Investor Relations

Louise Ruppel

TITLE
General Counsel & Company Secretary
TENURE
0.8 yrs

Chris Binsley

TITLE
Corporate Marketing Director

Steve Izquierdo

TITLE
Chief Human Resources Officer

Mike Clayton

TITLE
Managing Director of Precision Control Systems

Doug Burd

TITLE
Managing Director of Avalon Systems & Ultra Electronics Australia pty

Graeme Stacey

TITLE
Divisional Managing Director of Aerospace & Infrastructure
TENURE
9.8 yrs
Board of Directors Tenure

Average tenure and age of the Ultra Electronics Holdings board of directors in years:

2.5
Average Tenure
57
Average Age
  • The average tenure for the Ultra Electronics Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tony Rice

TITLE
Chairman of the Board
AGE
67
TENURE
0.8 yrs

Simon Pryce

TITLE
CEO & Director
COMPENSATION
£1M
AGE
57
TENURE
1.3 yrs

Ami Sharma

TITLE
Group Finance Director & Executive Director
COMPENSATION
£726K
AGE
52
TENURE
3.4 yrs

Martin Broadhurst

TITLE
Independent Non-Executive Director
COMPENSATION
£58K
AGE
66
TENURE
7.3 yrs

Dan Shook

TITLE
Independent Non-Executive Director
AGE
52
TENURE
0.1 yrs

Rob Walmsley

TITLE
Senior Independent Director
COMPENSATION
£58K
AGE
78
TENURE
4.6 yrs

Geeta Gopalan

TITLE
Independent Non-Executive Director
COMPENSATION
£53K
AGE
55
TENURE
2.5 yrs

Victoria Hull

TITLE
Independent Non-Executive Director
COMPENSATION
£53K
AGE
57
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Ultra Electronics Holdings individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
29. Aug 19 Buy William Rice Individual 28. Aug 19 28. Aug 19 2,313 €23.73 €54,894
29. Aug 19 Buy William Rice Individual 29. Aug 19 29. Aug 19 2,687 €23.72 €63,724
21. Dec 18 Buy Amitabh Sharma Individual 21. Dec 18 21. Dec 18 381 €14.47 €5,514
X
Management checks
We assess Ultra Electronics Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ultra Electronics Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

UEH News

Simply Wall St News

UEH Company Info

Description

Ultra Electronics Holdings plc, an electrical and electronics engineering company, provides various solutions and products in the defense and aerospace, security, transport, and energy markets. The company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. The Aerospace & Infrastructure segment offers military and civil aerospace systems and sub-systems, as well as control systems and instrumentation for the operation of energy generating plants. The Communications & Security segment provides mission critical solutions, including secure communications and encryption solutions, as well as capabilities related to command and control, security and surveillance solutions, and military electronic warfare. The Maritime & Land segment offers underwater warfare and maritime systems for surface, sub-surface, and unmanned platforms for military, paramilitary, and civil domains, as well as provides modern military manned and unmanned vehicles. The company operates in the United Kingdom, Continental Europe, Canada, the United States, and internationally. Ultra Electronics Holdings plc was founded in 1993 and is headquartered in Greenford, the United Kingdom.

Details
Name: Ultra Electronics Holdings plc
UEH
Exchange: DB
Founded: 1993
£1,593,511,079
70,685,147
Website: http://www.ultra-electronics.com
Address: Ultra Electronics Holdings plc
417 Bridport Road,
Greenford,
Middlesex, UB6 8UA,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE ULE Ordinary Shares London Stock Exchange GB GBP 31. Jan 1975
OTCPK UEHP.F Ordinary Shares Pink Sheets LLC US USD 31. Jan 1975
DB UEH Ordinary Shares Deutsche Boerse AG DE EUR 31. Jan 1975
BATS-CHIXE ULEL Ordinary Shares BATS 'Chi-X Europe' GB GBP 31. Jan 1975
OTCPK UEHP.Y ADR Pink Sheets LLC US USD 06. Oct 2008
Number of employees
Current staff
Staff numbers
4,119
Ultra Electronics Holdings employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 20:49
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/12
Last earnings filing: 2019/08/07
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.