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McCarthy & Stone

DB:MCM
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MCM
DB
£733M
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

McCarthy & Stone plc, together with its subsidiaries, operates as a retirement housing market in the United Kingdom. The last earnings update was 223 days ago. More info.


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MCM Share Price and Events
7 Day Returns
0%
DB:MCM
0.5%
DE Consumer Durables
-0.3%
DE Market
1 Year Returns
5.2%
DB:MCM
4%
DE Consumer Durables
10.4%
DE Market
MCM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
McCarthy & Stone (MCM) 0% -12.1% 6.8% 5.2% -21.3% -
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
  • MCM outperformed the Consumer Durables industry which returned 4% over the past year.
  • MCM underperformed the Market in Germany which returned 10.4% over the past year.
Price Volatility
MCM
Industry
5yr Volatility vs Market

Value

 Is McCarthy & Stone 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 McCarthy & Stone 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 McCarthy & Stone.

DB:MCM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.4%
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:MCM
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%) (11.97%))
0.927
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.927 * 6.65%)
6.39%

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

The calculations below outline how an intrinsic value for McCarthy & Stone 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:MCM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.39%)
2020 82.00 Analyst x3 77.08
2021 68.00 Analyst x3 60.08
2022 59.87 Est @ -11.96% 49.72
2023 54.90 Est @ -8.3% 42.85
2024 51.74 Est @ -5.74% 37.96
2025 49.70 Est @ -3.95% 34.27
2026 48.36 Est @ -2.7% 31.34
2027 47.48 Est @ -1.82% 28.93
2028 46.90 Est @ -1.21% 26.86
2029 46.54 Est @ -0.78% 25.05
Present value of next 10 years cash flows £414.00
DB:MCM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £46.54 × (1 + 0.23%) ÷ (6.39% – 0.23%)
£757.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £757.01 ÷ (1 + 6.39%)10
£407.47
DB:MCM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £414.00 + £407.47
£821.47
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £821.47 / 537.33
£1.53
DB:MCM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MCM represents 1.1619x of LSE:MCS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.1619x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 1.53 x 1.1619
€1.78
Value per share (EUR) From above. €1.78
Current discount Discount to share price of €1.59
= -1 x (€1.59 - €1.78) / €1.78
10.7%

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

Current Discount
Amount off the current price McCarthy & Stone is available for.
Intrinsic value
11%
Share price is €1.59 vs Future cash flow value of €1.78
Current Discount Checks
For McCarthy & Stone to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • McCarthy & Stone's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • McCarthy & Stone'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 McCarthy & Stone's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are McCarthy & Stone's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MCM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in GBP £0.08
LSE:MCS Share Price ** LSE (2019-11-19) in GBP £1.37
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 McCarthy & Stone.

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

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

= 1.37 ÷ 0.08

17.89x

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

  • McCarthy & Stone is overvalued based on earnings compared to the DE Consumer Durables industry average.
  • McCarthy & Stone is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does McCarthy & Stone's expected growth come at a high price?
Raw Data
DB:MCM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
17.5%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:MCM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.89x ÷ 17.5%

1.02x

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

  • McCarthy & Stone is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on McCarthy & Stone's assets?
Raw Data
DB:MCM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in GBP £1.39
LSE:MCS Share Price * LSE (2019-11-19) in GBP £1.37
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:MCM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.37 ÷ 1.39

0.98x

* Primary Listing of McCarthy & Stone.

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

  • McCarthy & Stone is good value based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess McCarthy & Stone'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. McCarthy & Stone has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is McCarthy & Stone expected to perform in the next 1 to 3 years based on estimates from 7 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
17.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is McCarthy & Stone expected to grow at an attractive rate?
  • McCarthy & Stone's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • McCarthy & Stone's earnings growth is expected to exceed the Germany market average.
  • McCarthy & Stone's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MCM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MCM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 17.5%
DB:MCM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -3.3%
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:MCM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MCM Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-08-31 670 72 1
2022-08-31 668 72 1
2021-10-31 646 1
2021-08-31 643 66 66 7
2020-10-31 647 1
2020-08-31 644 76 51 7
2019-11-19
2019-10-31 722 1
2019-08-31 720 41 38 7
DB:MCM Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-02-28 713 60 41
2018-11-30 692 37 44
2018-08-31 672 15 46
2018-05-31 667 0 55
2018-02-28 662 -15 65
2017-11-30 662 -4 69
2017-08-31 661 8 74
2017-05-31 642 13 72
2017-02-28 624 19 69
2016-11-30 630 19 71
2016-08-31 636 18 73
2016-05-31 592 1 68

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • McCarthy & Stone's earnings are expected to grow by 17.5% yearly, however this is not considered high growth (20% yearly).
  • McCarthy & Stone's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:MCM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from McCarthy & Stone Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MCM Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-08-31 0.13 0.13 0.13 1.00
2022-08-31 0.13 0.13 0.13 1.00
2021-10-31
2021-08-31 0.12 0.13 0.11 5.00
2020-10-31
2020-08-31 0.08 0.10 0.07 5.00
2019-11-19
2019-10-31
2019-08-31 0.07 0.09 0.06 5.00
DB:MCM Past Financials Data
Date (Data in GBP Millions) EPS *
2019-02-28 0.08
2018-11-30 0.08
2018-08-31 0.09
2018-05-31 0.10
2018-02-28 0.12
2017-11-30 0.13
2017-08-31 0.14
2017-05-31 0.13
2017-02-28 0.13
2016-11-30 0.13
2016-08-31 0.14
2016-05-31 0.13

*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.
  • McCarthy & Stone is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess McCarthy & Stone'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.
McCarthy & Stone has a total score of 2/6, see the detailed checks below.

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

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

Past Performance

  How has McCarthy & Stone performed over the past 5 years?

  • McCarthy & Stone's last earnings update was 223 days ago.
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 McCarthy & Stone'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.
  • McCarthy & Stone's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • McCarthy & Stone's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • McCarthy & Stone's 1-year earnings growth is negative, it can't be compared to the DE Consumer Durables industry average.
Earnings and Revenue History
McCarthy & Stone'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 McCarthy & Stone Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MCM Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 712.50 41.00 57.50
2018-11-30 692.05 43.60 49.75
2018-08-31 671.60 46.20 42.00
2018-05-31 666.95 55.35 41.30
2018-02-28 662.30 64.50 40.60
2017-11-30 661.60 69.35 39.70
2017-08-31 660.90 74.20 38.80
2017-05-31 642.40 71.65 36.65
2017-02-28 623.90 69.10 34.50
2016-11-30 629.90 71.10 34.60
2016-08-31 635.90 73.10 34.70
2016-05-31 591.65 67.90 34.85
2016-02-29 547.40 62.70 35.00
2015-11-30 516.55 63.40 34.75
2015-08-31 485.70 64.10 34.50
2015-05-31 456.15 59.70 36.80
2015-02-28 426.60 55.30 39.10
2014-11-30 407.20 49.80 37.55
2014-08-31 387.80 44.30 36.00
2013-08-31 310.80 4.40 26.70

*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.
  • McCarthy & Stone has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • McCarthy & Stone used its assets more efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • McCarthy & Stone's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess McCarthy & Stone'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.
McCarthy & Stone has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is McCarthy & Stone'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 McCarthy & Stone's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • McCarthy & Stone is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • McCarthy & Stone's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of McCarthy & Stone'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 9.9x 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 McCarthy & Stone Company Filings, last reported 8 months ago.

DB:MCM Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 748.10 87.80 31.80
2018-11-30 748.10 87.80 31.80
2018-08-31 763.40 51.40 57.00
2018-05-31 763.40 51.40 57.00
2018-02-28 735.40 115.10 41.10
2017-11-30 735.40 115.10 41.10
2017-08-31 745.70 8.00 40.70
2017-05-31 745.70 8.00 40.70
2017-02-28 697.10 52.70 24.60
2016-11-30 697.10 52.70 24.60
2016-08-31 698.10 63.80 119.00
2016-05-31 698.10 63.80 119.00
2016-02-29 650.80 108.50 86.40
2015-11-30 650.80 108.50 86.40
2015-08-31 542.50 99.20 56.90
2015-05-31 542.50 99.20 56.90
2015-02-28 497.40 124.70 45.00
2014-11-30 497.40 124.70 45.00
2014-08-31 477.20 160.00 111.10
2013-08-31 432.40 158.10 96.90
  • McCarthy & Stone's level of debt (11.7%) 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 (35% vs 11.7% today).
  • Debt is well covered by operating cash flow (68%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.3x coverage).
X
Financial health checks
We assess McCarthy & Stone'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. McCarthy & Stone 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.

Dividends

 What is McCarthy & Stone'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
3.96%
Current annual income from McCarthy & Stone dividends. Estimated to be 4.53% next year.
If you bought €2,000 of McCarthy & Stone shares you are expected to receive €79 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?
  • McCarthy & Stone's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.35%).
  • McCarthy & Stone'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:MCM 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 7 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:MCM Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-08-31 0.09 1.00
2022-08-31 0.09 1.00
2021-10-31 0.06 1.00
2021-08-31 0.06 7.00
2020-10-31 0.05 1.00
2020-08-31 0.05 7.00
2019-11-19
2019-10-31 0.05 1.00
2019-08-31 0.05 7.00
DB:MCM Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2018-12-19 0.054 3.975
2018-11-13 0.054 3.961
2017-12-12 0.054 4.196
2017-11-14 0.054 3.285
2016-12-13 0.070 4.119
2016-11-15 0.070 4.199
2016-04-19 0.020 1.077

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

  • McCarthy & Stone has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but McCarthy & Stone only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of McCarthy & Stone's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.7x coverage).
X
Income/ dividend checks
We assess McCarthy & Stone'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 McCarthy & Stone afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. McCarthy & Stone has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of McCarthy & Stone'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
John Tonkiss
COMPENSATION £509,897
AGE 51
TENURE AS CEO 1.2 years
CEO Bio

Mr. John M. Tonkiss had served as Interim Chief Executive Officer of McCarthy & Stone Plc from September 1, 2018 to September 25, 2018. He has been the Chief Executive Officer at McCarthy & Stone Plc since September 25, 2018 and also serves as its Executive Director since November 05, 2015. Mr. Tonkiss served as Group National Operations Director at McCarthy & Stone Plc since September 01, 2016 until June 1, 2017 and Chief Operating Officer since June 1, 2017 until September 1, 2018. Previously, Mr. Tonkiss served as Operations Director of North & Business Transformation at McCarthy & Stone Plc since until September 01, 2016. Mr. Tonkiss served as an Operations Director of North & Business Transformation at McCarthy & Stone Retirement Lifestyles Limited from October 16, 2015 to September 1, 2016. Mr. Tonkiss served as Business Transformation Director of McCarthy & Stone Limited. He was responsible for leading the improvement change programme to accelerate business growth, enhance customer experience and improve operating performance. He served as Business Transformation Director of McCarthy & Stone Retirement Lifestyles Limited. He served as Chief Executive Officer of Human Recognition Systems Limited since August 30, 2012. He served as the Chief Operating Officer and Member of Operations Board at Unite Group plc until January 1, 2012. Mr. Tonkiss served as Managing Director of Student Hospitality UK Business at Unite Group plc since January 2007. Mr. Tonkiss was responsible for managing and growing UNITE's student business across the UK, with the important exception of London. He held number of engineering roles at Lucas Electrical. He served as a Manufacturing Director and Group Development Director of Unite Group PLC. since October 2004. He was responsible managing UNITE's acquisition and development business, Product Development and Group Procurement. He joined UNITE in September 2001 to deliver new Manufacturing facility. He served as General Manager of manufacturing business of Unite Group plc, where he set up its pioneering off-site manufacturing facility since September 2001. He worked as a software/electronics engineer on car fuelling systems prior to taking up Operational and Plant management roles with the Mercian automotive group TRW. He served as a Director of Unite Group plc from January 25, 2007 to January 1, 2012. An alumnus of The London Business School and Harvard, Mr. Tonkiss holds an MSc in Manufacturing Systems and Logistics from Birmingham City University.

CEO Compensation
  • John's compensation has been consistent with company performance over the past year, both up more than 20%.
  • John's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the McCarthy & Stone management team in years:

1.5
Average Tenure
51
Average Age
  • The average tenure for the McCarthy & Stone management team is less than 2 years, this suggests a new team.
Management Team

John Tonkiss

TITLE
CEO & Executive Director
COMPENSATION
£510K
AGE
51
TENURE
1.2 yrs

Rowan Baker

TITLE
CFO & Executive Director
COMPENSATION
£449K
TENURE
2.8 yrs

Marina Calero

TITLE
Director of Investor Relations

Patrick Hole

TITLE
Group General Counsel & Company Secretary
TENURE
5.3 yrs

Paula Jordan

TITLE
Human Resources Director

Nigel Turner

TITLE
COO of Build & Director
AGE
53
TENURE
0.8 yrs

Mike Lloyd

TITLE
COO of Services & Customers and Director
AGE
41
TENURE
0.8 yrs

Brendon O’Neill

TITLE
Divisional Managing Director - South
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the McCarthy & Stone board of directors in years:

1.7
Average Tenure
56
Average Age
  • The average tenure for the McCarthy & Stone board of directors is less than 3 years, this suggests a new board.
Board of Directors

Paul Lester

TITLE
Group Non-Executive Chairman
COMPENSATION
£142K
AGE
69
TENURE
1.8 yrs

John Tonkiss

TITLE
CEO & Executive Director
COMPENSATION
£510K
AGE
51
TENURE
4 yrs

Rowan Baker

TITLE
CFO & Executive Director
COMPENSATION
£449K

Nigel Turner

TITLE
COO of Build & Director
AGE
53
TENURE
0.8 yrs

Mike Lloyd

TITLE
COO of Services & Customers and Director
AGE
41
TENURE
0.8 yrs

Frank Nelson

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£74K
AGE
68

Gill Barr

TITLE
Independent Non-Executive Director
AGE
61
TENURE
0.6 yrs

Geeta Nanda

TITLE
Independent Non-Executive Director
COMPENSATION
£54K
AGE
54
TENURE
4.6 yrs

John Carter

TITLE
Independent Non-Executive Director
COMPENSATION
£50K
AGE
58
TENURE
2.1 yrs

Arun Nagwaney

TITLE
Non-Executive Director
TENURE
1.5 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 (€)
X
Management checks
We assess McCarthy & Stone'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. McCarthy & Stone has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

Company Info

Description

McCarthy & Stone plc, together with its subsidiaries, operates as a retirement housing market in the United Kingdom. The company builds, sells, and manages retirement developments. It offers retirement living developments, which provide apartments for customers aged 60 and over; retirement living plus developments, which are designed for customers aged 70 and over, as well as offers retirement properties with management services, domestic assistance, personal care, and additional support; and lifestyle living developments for customers aged 55 and over. The company was founded in 1977 and is headquartered in Bournemouth, the United Kingdom.

Details
Name: McCarthy & Stone plc
MCM
Exchange: DB
Founded: 1977
£856,218,919
537,329,434
Website: http://www.mccarthyandstonegroup.co.uk
Address: McCarthy & Stone plc
100 Holdenhurst Road,
4th Floor,
Bournemouth,
Dorset, BH8 8AQ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MCS Ordinary Shares London Stock Exchange GB GBP 06. Nov 2015
DB MCM Ordinary Shares Deutsche Boerse AG DE EUR 06. Nov 2015
BATS-CHIXE MCSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 06. Nov 2015
Number of employees
Current staff
Staff numbers
2,512
McCarthy & Stone employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/19 21:57
End of day share price update: 2019/11/19 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/04/10
Last earnings reported: 2019/02/28
Last annual earnings reported: 2018/08/31


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.