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Barratt Developments

DB:3BA
Snowflake Description

Flawless balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3BA
DB
£7B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. The last earnings update was 63 days ago. More info.


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3BA Share Price and Events
7 Day Returns
2.4%
DB:3BA
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
40.1%
DB:3BA
4%
DE Consumer Durables
10.4%
DE Market
3BA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Barratt Developments (3BA) 2.4% -1.2% 10.6% 40.1% 33.3% 33.8%
DE Consumer Durables 0.5% 5.1% 4.1% 4% -3% 13.6%
DE Market -0.3% 4.2% 12.4% 10.4% 13.9% 17.1%
1 Year Return vs Industry and Market
  • 3BA outperformed the Consumer Durables industry which returned 4% over the past year.
  • 3BA outperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
3BA
Industry
5yr Volatility vs Market

3BA Value

 Is Barratt Developments 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 Barratt Developments 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 Barratt Developments.

DB:3BA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
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:3BA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.812 (1 + (1- 19%) (3.03%))
0.887
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.887 * 6.65%)
6.13%

Discounted Cash Flow Calculation for DB:3BA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Barratt Developments 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:3BA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.13%)
2020 220.18 Analyst x2 207.47
2021 619.80 Analyst x5 550.29
2022 590.65 Analyst x3 494.13
2023 572.72 Est @ -3.04% 451.46
2024 560.94 Est @ -2.06% 416.65
2025 553.25 Est @ -1.37% 387.21
2026 548.32 Est @ -0.89% 361.60
2027 545.27 Est @ -0.56% 338.83
2028 543.53 Est @ -0.32% 318.24
2029 542.68 Est @ -0.16% 299.40
Present value of next 10 years cash flows £3,825.00
DB:3BA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £542.68 × (1 + 0.23%) ÷ (6.13% – 0.23%)
£9,218.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £9,218.99 ÷ (1 + 6.13%)10
£5,086.11
DB:3BA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £3,825.00 + £5,086.11
£8,911.11
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £8,911.11 / 1,012.03
£8.81
DB:3BA Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3BA represents 1.16896x of LSE:BDEV
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.16896x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 8.81 x 1.16896
€10.29
Value per share (EUR) From above. €10.29
Current discount Discount to share price of €7.62
= -1 x (€7.62 - €10.29) / €10.29
25.9%

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

Current Discount
Amount off the current price Barratt Developments is available for.
Intrinsic value
26%
Share price is €7.62 vs Future cash flow value of €10.29
Current Discount Checks
For Barratt Developments to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Barratt Developments's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Barratt Developments's share price is below the future cash flow value, but not 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 Barratt Developments's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Barratt Developments's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3BA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.73
LSE:BDEV Share Price ** LSE (2019-11-19) in GBP £6.52
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 16.53x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.74x

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

** Primary Listing of Barratt Developments.

DB:3BA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 6.52 ÷ 0.73

8.91x

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

  • Barratt Developments is good value based on earnings compared to the DE Consumer Durables industry average.
  • Barratt Developments is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Barratt Developments's expected growth come at a high price?
Raw Data
DB:3BA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
2.8%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 1x
Germany Market PEG Ratio Median Figure of 258 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

DB:3BA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.91x ÷ 2.8%

3.19x

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

  • Barratt Developments is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Barratt Developments's assets?
Raw Data
DB:3BA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £4.81
LSE:BDEV Share Price * LSE (2019-11-19) in GBP £6.52
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 578 Publicly-Listed Companies 1.88x
DB:3BA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 6.52 ÷ 4.81

1.36x

* Primary Listing of Barratt Developments.

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

  • Barratt Developments is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess Barratt Developments's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Durables industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Durables industry average (and greater than 0)? (1 check)
  5. Barratt Developments has a total score of 4/6, 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.

3BA Future Performance

 How is Barratt Developments expected to perform in the next 1 to 3 years based on estimates from 16 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
2.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Barratt Developments expected to grow at an attractive rate?
  • Barratt Developments's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Barratt Developments's earnings growth is positive but not above the Germany market average.
  • Barratt Developments's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3BA Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3BA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 2.8%
DB:3BA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 2.9%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 14%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:3BA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3BA Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 5,361 850 1
2022-06-30 5,202 683 804 9
2021-06-30 5,000 742 754 14
2020-06-30 4,846 375 727 16
2019-11-19
DB:3BA Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 4,763 361 740
2019-03-31 4,891 521 735
2018-12-31 5,019 681 729
2018-09-30 4,947 598 700
2018-06-30 4,875 514 672
2018-03-31 4,848 438 651
2017-12-31 4,822 361 629
2017-09-30 4,736 375 623
2017-06-30 4,650 389 616
2017-03-31 4,413 413 594
2016-12-31 4,176 438 571
2016-09-30 4,206 545 561

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Barratt Developments's earnings are expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
  • Barratt Developments's revenue is expected to grow by 2.9% 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:3BA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

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

DB:3BA Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 0.83 0.83 0.83 1.00
2022-06-30 0.77 0.82 0.67 7.00
2021-06-30 0.74 0.80 0.59 10.00
2020-06-30 0.71 0.74 0.57 10.00
2019-11-19
DB:3BA Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.73
2019-03-31 0.73
2018-12-31 0.72
2018-09-30 0.69
2018-06-30 0.66
2018-03-31 0.64
2017-12-31 0.62
2017-09-30 0.62
2017-06-30 0.61
2017-03-31 0.59
2016-12-31 0.57
2016-09-30 0.56

*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.
  • Barratt Developments is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Barratt Developments'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Barratt Developments 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.

3BA Past Performance

  How has Barratt Developments 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 Barratt Developments's growth in the last year to its industry (Consumer Durables).
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.
  • Barratt Developments's year on year earnings growth rate has been positive over the past 5 years.
  • Barratt Developments's 1-year earnings growth is less than its 5-year average (10.2% vs 14.5%)
  • Barratt Developments's earnings growth has exceeded the DE Consumer Durables industry average in the past year (10.2% vs -18.6%).
Earnings and Revenue History
Barratt Developments'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 Barratt Developments Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3BA 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 4,763.10 740.00 180.80
2019-03-31 4,890.95 734.55 172.45
2018-12-31 5,018.80 729.10 164.10
2018-09-30 4,946.80 700.40 154.90
2018-06-30 4,874.80 671.70 145.70
2018-03-31 4,848.40 650.55 140.90
2017-12-31 4,822.00 629.40 136.10
2017-09-30 4,736.10 622.60 134.25
2017-06-30 4,650.20 615.80 132.40
2017-03-31 4,413.05 593.60 134.30
2016-12-31 4,175.90 571.40 136.20
2016-09-30 4,205.55 560.85 133.90
2016-06-30 4,235.20 550.30 131.60
2016-03-31 4,146.95 535.65 132.35
2015-12-31 4,058.70 521.00 133.10
2015-09-30 3,909.10 485.20 135.10
2015-06-30 3,759.50 449.40 137.10
2015-03-31 3,613.95 414.60 134.95
2014-12-31 3,468.40 379.80 132.80
2014-09-30 3,312.70 342.60 126.35
2014-06-30 3,157.00 305.40 119.90
2014-03-31 3,038.50 219.95 116.95
2013-12-31 2,920.00 134.50 114.00
2013-09-30 2,763.10 104.60 110.65
2013-06-30 2,606.20 74.70 107.30
2013-03-31 2,463.95 81.40 101.05
2012-12-31 2,321.70 88.10 94.80

*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.
  • Barratt Developments has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Barratt Developments used its assets more efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • Barratt Developments has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Barratt Developments's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Durables 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.
Barratt Developments has a total score of 4/6, 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.

3BA Health

 How is Barratt Developments'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 Barratt Developments's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Barratt Developments is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Barratt Developments's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Barratt Developments'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 30x 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 Barratt Developments Company Filings, last reported 4 months ago.

DB:3BA Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 4,869.00 200.00 958.30
2019-03-31 4,869.00 200.00 958.30
2018-12-31 4,551.70 200.00 579.10
2018-09-30 4,551.70 200.00 579.10
2018-06-30 4,597.70 191.10 982.40
2018-03-31 4,597.70 191.10 982.40
2017-12-31 4,267.70 212.10 378.00
2017-09-30 4,267.70 212.10 378.00
2017-06-30 4,322.20 79.70 784.40
2017-03-31 4,322.20 79.70 784.40
2016-12-31 4,010.30 190.40 362.20
2016-09-30 4,010.30 190.40 362.20
2016-06-30 4,010.20 190.60 758.00
2016-03-31 4,010.20 190.60 758.00
2015-12-31 3,763.70 191.70 195.60
2015-09-30 3,763.70 191.70 195.60
2015-06-30 3,711.30 193.50 360.40
2015-03-31 3,711.30 193.50 360.40
2014-12-31 3,459.40 199.10 41.60
2014-09-30 3,459.40 199.10 41.60
2014-06-30 3,354.00 221.30 274.70
2014-03-31 3,354.00 221.30 274.70
2013-12-31 3,152.10 337.70 160.50
2013-09-30 3,152.10 337.70 160.50
2013-06-30 3,073.20 375.90 295.70
2013-03-31 3,073.20 375.90 295.70
2012-12-31 3,006.20 415.30 15.10
  • Barratt Developments's level of debt (4.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (6.6% vs 4.1% today).
  • Debt is well covered by operating cash flow (180.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 29.4x coverage).
X
Financial health checks
We assess Barratt Developments'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. Barratt Developments has a total score of 6/6, 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.

3BA Dividends

 What is Barratt Developments'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
7.11%
Current annual income from Barratt Developments dividends. Estimated to be 7.35% next year.
If you bought €2,000 of Barratt Developments shares you are expected to receive €142 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?
  • Barratt Developments's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.35%).
  • Barratt Developments's dividend is above the markets top 25% of dividend payers in Germany (3.72%).
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:3BA 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 16 Analyst Estimates (S&P Global) See Below
Germany Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:3BA Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 0.50 1.00
2022-06-30 0.50 9.00
2021-06-30 0.48 13.00
2020-06-30 0.47 15.00
2019-11-19
DB:3BA Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-09-17 0.464 7.241
2019-09-04 0.464 7.464
2019-02-06 0.448 7.481
2018-09-17 0.438 8.645
2018-09-05 0.438 7.897
2018-02-21 0.430 7.961
2017-11-16 0.417 6.858
2017-02-22 0.320 5.395
2016-10-05 0.307 6.377
2016-09-07 0.307 6.296
2015-09-09 0.151 2.791
2014-10-06 0.103 2.014
2014-09-10 0.103 2.628
2014-02-27 0.064 1.713
2013-10-11 0.025 0.704
2009-09-23 0.000 0.000
2009-09-01 0.000 0.000
2009-01-15 0.000 0.000

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

  • Whilst dividend payments have been stable, Barratt Developments has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Barratt Developments only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Barratt Developments's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Barratt Developments'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 Barratt Developments afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Barratt Developments 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.

3BA Management

 What is the CEO of Barratt Developments'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
David Thomas
COMPENSATION £3,613,000
AGE 56
TENURE AS CEO 4.3 years
CEO Bio

Mr. David Fraser Thomas has been Group Chief Executive Officer of Barratt Developments plc since July 1, 2015. Mr. Thomas served as a Group Finance Director at Barratt Developments plc from July 21, 2009 to June 30, 2015. He served as an Interim Chief Financial Officer of Barratt Developments plc since January 24, 2017 until June 22, 2017. Mr. Thomas served as Group Finance Director and Deputy Chief Executive of GAME Group plc from 2004 to 2009. Before joining GAME in March 2004, he served as Group Finance Director at Millennium and Copthorne Hotels plc from 1998 to 2004. Prior to this, he held senior financial roles with House of Fraser plc and Forte plc. He is a Non-Executive Director of the HBF and an Associate of the Institute of Chartered Accountants in England and Wales. He serves as Executive Director since July 21, 2009 for Barratt Developments plc. He serves as Director for Ward Homes Ltd.

CEO Compensation
  • David's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • David's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Barratt Developments management team in years:

7.3
Average Tenure
56
Average Age
  • The average tenure for the Barratt Developments management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David Thomas

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£4M
AGE
56
TENURE
4.3 yrs

Jessica White

TITLE
CFO & Executive Director
COMPENSATION
£1M
TENURE
2.4 yrs

Steven Boyes

TITLE
COO, Deputy CEO & Executive Director
COMPENSATION
£3M
AGE
59
TENURE
7.3 yrs

Michael Finn

TITLE
Group Design & Technical Director

Chloé Barnes

TITLE
Head of Investor Relations

Tim Collins

TITLE
Head of Corporate Communications

Jeremy Hipkiss

TITLE
Group Sales & Marketing Director

Rob Tansey

TITLE
Group Human Resources Director
TENURE
7.3 yrs

Gary Ennis

TITLE
Regional Managing Director of London & Southern
AGE
50
TENURE
13.8 yrs

Nick Richardson

TITLE
Managing Director of Wilson Bowden Developments
AGE
56
Board of Directors Tenure

Average tenure and age of the Barratt Developments board of directors in years:

4.2
Average Tenure
59
Average Age
  • The tenure for the Barratt Developments board of directors is about average.
Board of Directors

John Allan

TITLE
Non-Executive Chairman
COMPENSATION
£327K
AGE
70
TENURE
5 yrs

David Thomas

TITLE
Group Chief Executive & Executive Director
COMPENSATION
£4M
AGE
56
TENURE
10.3 yrs

Jessica White

TITLE
CFO & Executive Director
COMPENSATION
£1M
TENURE
2.4 yrs

Steven Boyes

TITLE
COO, Deputy CEO & Executive Director
COMPENSATION
£3M
AGE
59
TENURE
18.3 yrs

Richard Akers

TITLE
Senior Independent Director
COMPENSATION
£88K
AGE
58
TENURE
3 yrs

Jock Lennox

TITLE
Non-Executive Director
COMPENSATION
£74K
AGE
63
TENURE
3.3 yrs

Nina Bibby

TITLE
Non-Executive Director
COMPENSATION
£62K
TENURE
6.9 yrs

Sharon White

TITLE
Independent Non-Executive Director
COMPENSATION
£62K
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
31. Jul 19 Sell David Thomas Individual 30. Jul 19 30. Jul 19 -500,000 €7.19 €-3,596,628
17. Dec 18 Buy Jessica White Individual 17. Dec 18 17. Dec 18 10,000 €4.85 €48,527
20. Nov 18 Buy John Allan Individual 20. Nov 18 20. Nov 18 10,000 €5.40 €53,964
X
Management checks
We assess Barratt Developments'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. Barratt Developments 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.

3BA News

Simply Wall St News

3BA Company Info

Description

Barratt Developments PLC engages in the housebuilding and commercial development businesses in Great Britain. It acquires and develops land; plans, designs, and constructs residential properties, including apartments, penthouses, and communities; and develops and sells homes. The company offers homes under the Barratt Homes, David Wilson Homes, and Barratt London brands. It is also involved in the commercial development activities under the Wilson Bowden Developments brand. The company was founded in 1958 and is headquartered in Coalville, the United Kingdom.

Details
Name: Barratt Developments PLC
3BA
Exchange: DB
Founded: 1958
£7,705,261,801
1,012,033,917
Website: http://www.barrattdevelopments.co.uk
Address: Barratt Developments PLC
Barratt House,
Cartwright Way,
Coalville,
Leicestershire, LE67 1UF,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BDEV Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK BTDP.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB 3BA Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE BDEVL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK BTDP.Y ADR Pink Sheets LLC US USD 06. Apr 2011
Number of employees
Current staff
Staff numbers
6,504
Barratt Developments employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 20:55
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/11/15
Last earnings filing: 2019/09/17
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.