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Mitchells & Butlers

DB:MABB
Snowflake Description

Very undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MABB
DB
£719M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Mitchells & Butlers plc manages pubs, bars, and restaurants in the United Kingdom and Germany. The last earnings update was 112 days ago. More info.


Add to Portfolio Compare Print
  • Mitchells & Butlers has significant price volatility in the past 3 months.
MABB Share Price and Events
7 Day Returns
7.2%
DB:MABB
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-34.7%
DB:MABB
-48.1%
DE Hospitality
-20.9%
DE Market
MABB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mitchells & Butlers (MABB) 7.2% -41.8% -60.7% -34.7% -32.9% -66.9%
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • MABB outperformed the Hospitality industry which returned -48.1% over the past year.
  • MABB underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
MABB
Industry
5yr Volatility vs Market

MABB Value

 Is Mitchells & Butlers 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 Mitchells & Butlers 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 Mitchells & Butlers.

DB:MABB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MABB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 19%) (285.72%))
2.067
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 6.07%)
11.75%

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

The calculations below outline how an intrinsic value for Mitchells & Butlers 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:MABB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 11.75%)
2020 157.26 Analyst x6 140.72
2021 173.01 Analyst x7 138.54
2022 171.14 Analyst x5 122.63
2023 169.74 Est @ -0.82% 108.84
2024 168.57 Est @ -0.69% 96.72
2025 167.56 Est @ -0.6% 86.03
2026 166.66 Est @ -0.54% 76.58
2027 165.84 Est @ -0.49% 68.19
2028 165.07 Est @ -0.46% 60.74
2029 164.34 Est @ -0.44% 54.11
Present value of next 10 years cash flows £953.00
DB:MABB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £164.34 × (1 + -0.39%) ÷ (11.75% – -0.39%)
£1,348.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,348.45 ÷ (1 + 11.75%)10
£443.98
DB:MABB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £953.00 + £443.98
£1,396.98
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,396.98 / 426.39
£3.28
DB:MABB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MABB represents 1.19514x of LSE:MAB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.19514x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 3.28 x 1.19514
€3.92
Value per share (EUR) From above. €3.92
Current discount Discount to share price of €2.02
= -1 x (€2.02 - €3.92) / €3.92
48.5%

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

Current Discount
Amount off the current price Mitchells & Butlers is available for.
Intrinsic value
49%
Share price is €2.02 vs Future cash flow value of €3.92
Current Discount Checks
For Mitchells & Butlers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mitchells & Butlers's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mitchells & Butlers's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mitchells & Butlers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mitchells & Butlers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MABB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-28) in GBP £0.33
LSE:MAB Share Price ** LSE (2020-04-03) in GBP £1.69
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of Mitchells & Butlers.

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

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

= 1.69 ÷ 0.33

5.03x

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

  • Mitchells & Butlers is good value based on earnings compared to the DE Hospitality industry average.
  • Mitchells & Butlers is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Mitchells & Butlers's expected growth come at a high price?
Raw Data
DB:MABB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
5.2%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.03x ÷ 5.2%

0.98x

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

  • Mitchells & Butlers is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Mitchells & Butlers's assets?
Raw Data
DB:MABB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-28) in GBP £4.57
LSE:MAB Share Price * LSE (2020-04-03) in GBP £1.69
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:MABB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.69 ÷ 4.57

0.37x

* Primary Listing of Mitchells & Butlers.

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

  • Mitchells & Butlers is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Mitchells & Butlers'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Mitchells & Butlers has a total score of 6/6, 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.

MABB Future Performance

 How is Mitchells & Butlers expected to perform in the next 1 to 3 years based on estimates from 13 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
5.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mitchells & Butlers expected to grow at an attractive rate?
  • Mitchells & Butlers's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Mitchells & Butlers's earnings growth is positive but not above the Germany market average.
  • Mitchells & Butlers's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MABB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MABB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 5.2%
DB:MABB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 1.9%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:MABB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MABB Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-09-30 2,368 1
2023-09-30 2,389 2
2022-09-30 2,380 290 171 10
2021-09-30 2,320 324 157 13
2020-09-30 2,233 276 166 10
2020-04-06
2019-09-30 2,233 264 152 13
DB:MABB Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-28 2,237 266 143
2019-06-28 2,223 259 127
2019-04-13 2,208 251 110
2019-01-13 2,180 246 107
2018-09-29 2,152 240 104
2018-06-29 2,170 247 83
2018-04-14 2,187 254 61
2018-01-14 2,184 240 62
2017-09-30 2,180 226 63
2017-06-30 2,147 222 67
2017-04-08 2,113 217 70
2017-01-08 2,100 220 80

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mitchells & Butlers's earnings are expected to grow by 5.2% yearly, however this is not considered high growth (20% yearly).
  • Mitchells & Butlers's revenue is expected to grow by 1.9% 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:MABB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Mitchells & Butlers Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MABB Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-09-30
2023-09-30
2022-09-30 0.42 0.43 0.39 4.00
2021-09-30 0.39 0.50 0.27 6.00
2020-09-30 0.37 0.39 0.35 3.00
2020-04-06
2019-09-30 0.36 0.37 0.35 4.00
DB:MABB Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-28 0.33
2019-06-28 0.30
2019-04-13 0.26
2019-01-13 0.25
2018-09-29 0.24
2018-06-29 0.19
2018-04-14 0.14
2018-01-14 0.15
2017-09-30 0.15
2017-06-30 0.16
2017-04-08 0.17
2017-01-08 0.19

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

MABB Past Performance

  How has Mitchells & Butlers 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 Mitchells & Butlers's growth in the last year to its industry (Hospitality).
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.
  • Mitchells & Butlers's year on year earnings growth rate has been positive over the past 5 years.
  • Mitchells & Butlers's 1-year earnings growth exceeds its 5-year average (37.8% vs 1.8%)
  • Mitchells & Butlers's earnings growth has exceeded the DE Hospitality industry average in the past year (37.8% vs -36.8%).
Earnings and Revenue History
Mitchells & Butlers'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 Mitchells & Butlers Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MABB Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-28 2,237.00 143.00 7.00
2019-06-28 2,222.50 126.50 7.00
2019-04-13 2,208.00 110.00 7.00
2019-01-13 2,180.00 107.00 7.00
2018-09-29 2,152.00 104.00 7.00
2018-06-29 2,169.50 82.50 7.00
2018-04-14 2,187.00 61.00 7.00
2018-01-14 2,183.50 62.00 7.00
2017-09-30 2,180.00 63.00 7.00
2017-06-30 2,146.50 66.50 8.50
2017-04-08 2,113.00 70.00 10.00
2017-01-08 2,099.50 79.50 11.00
2016-09-24 2,086.00 89.00 12.00
2016-06-24 2,085.00 104.50 12.50
2016-04-09 2,084.00 120.00 13.00
2016-01-09 2,092.50 111.50 14.00
2015-09-26 2,101.00 103.00 15.00
2015-06-26 2,084.00 101.00 14.00
2015-04-11 2,067.00 99.00 13.00
2015-01-11 2,018.50 96.00 11.50
2014-09-27 1,970.00 93.00 10.00
2014-06-27 1,945.00 109.50 10.00
2014-04-12 1,920.00 126.00 10.00
2014-01-12 1,907.50 127.00 10.50
2013-09-28 1,895.00 128.00 11.00
2013-06-28 1,903.00 108.50 11.00
2013-04-13 1,911.00 89.00 11.00

*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.
  • Mitchells & Butlers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mitchells & Butlers used its assets more efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Mitchells & Butlers's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Mitchells & Butlers'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 Hospitality 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.
Mitchells & Butlers 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.

MABB Health

 How is Mitchells & Butlers'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 Mitchells & Butlers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mitchells & Butlers's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Mitchells & Butlers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Mitchells & Butlers'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 not covered by short term assets, assets are 0.1x 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 Mitchells & Butlers Company Filings, last reported 6 months ago.

DB:MABB Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-28 1,947.00 2,054.00 133.00
2019-06-28 1,947.00 2,054.00 133.00
2019-04-13 1,837.00 2,189.00 265.00
2019-01-13 1,837.00 2,189.00 265.00
2018-09-29 1,769.00 2,221.00 242.00
2018-06-29 1,769.00 2,221.00 242.00
2018-04-14 1,705.00 2,271.00 258.00
2018-01-14 1,705.00 2,271.00 258.00
2017-09-30 1,626.00 2,354.00 267.00
2017-06-30 1,626.00 2,354.00 267.00
2017-04-08 1,525.00 2,494.00 266.00
2017-01-08 1,525.00 2,494.00 266.00
2016-09-24 1,408.00 2,577.00 278.00
2016-06-24 1,408.00 2,577.00 278.00
2016-04-09 1,282.00 2,515.00 272.00
2016-01-09 1,282.00 2,515.00 272.00
2015-09-26 1,271.00 2,470.00 283.00
2015-06-26 1,271.00 2,470.00 283.00
2015-04-11 1,168.00 2,552.00 272.00
2015-01-11 1,168.00 2,552.00 272.00
2014-09-27 1,185.00 2,461.00 255.00
2014-06-27 1,185.00 2,461.00 255.00
2014-04-12 1,278.00 2,475.00 528.00
2014-01-12 1,278.00 2,475.00 528.00
2013-09-28 1,219.00 2,360.00 365.00
2013-06-28 1,219.00 2,360.00 365.00
2013-04-13 1,133.00 2,499.00 379.00
  • Mitchells & Butlers's level of debt (105.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (207.9% vs 105.5% today).
  • Debt is not well covered by operating cash flow (13%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Mitchells & Butlers'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. Mitchells & Butlers has a total score of 1/6, 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.

MABB Dividends

 What is Mitchells & Butlers'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
0%
Current annual income from Mitchells & Butlers dividends. Estimated to be 0% next year.
If you bought €2,000 of Mitchells & Butlers shares you are expected to receive €0 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?
  • Unable to evaluate Mitchells & Butlers's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Mitchells & Butlers's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:MABB 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 13 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:MABB Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-09-30
2023-09-30 0.00 1.00
2022-09-30 0.00 5.00
2021-09-30 0.00 7.00
2020-09-30 0.00 7.00
2020-04-06
2019-09-30 0.00 10.00
DB:MABB Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.000 0.000
2018-11-28 0.000 0.000
2018-11-22 0.000 0.000
2018-05-16 0.000 0.000
2017-12-14 0.075 2.912
2017-11-23 0.075 2.903
2016-12-16 0.075 3.030
2016-11-22 0.075 3.174
2016-05-19 0.075 2.844
2015-11-23 0.075 2.610
2009-11-30 0.000 0.000
2009-11-26 0.000 0.000
2009-05-21 0.000 0.000

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

  • Unable to perform a dividend volatility check as Mitchells & Butlers has not reported any payouts.
  • Unable to verify if Mitchells & Butlers's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Mitchells & Butlers's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Mitchells & Butlers has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Mitchells & Butlers's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Mitchells & Butlers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Mitchells & Butlers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mitchells & Butlers has a total score of 0/6, see the detailed checks below.


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

MABB Management

 What is the CEO of Mitchells & Butlers'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
Phil Urban
COMPENSATION £1,049,000
AGE 56
TENURE AS CEO 4.6 years
CEO Bio

Mr. Phil Urban has been the Chief Executive Officer of Mitchells & Butlers plc since September 27, 2015. Mr. Urban served as the Chief Operating Officer of Mitchells & Butlers plc from January 5, 2015 to September 27, 2015. He joined Mitchells & Butlers in January 2015. Mr. Urban served as the Chief Executive Officer and Managing Director at Grosvenor Casinos Limited. He served as Managing Director of Grosvenor Casinos at The Rank Group Plc until October 2014 and served as its Managing Director of Casinos Business and Grosvenor Casinos since June 2, 2008. He served as Managing Director of Pub Restaurants of Whitbread Plc since October 2004. Mr. Urban serves as a Director of Mitchells & Butlers plc. Mr. Urban joined Whitbread from Spirit Group, having previously spent ten years at Scottish and Newcastle Retail. He served as Managing Director of Restaurants and Accommodation Division at Scottish and Newcastle. He served as Chairman of the National Casino Forum. Mr. Urban has an MBA and is a qualified management accountant (CIMA).

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

Average tenure and age of the Mitchells & Butlers management team in years:

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

Phil Urban

TITLE
CEO & Director
COMPENSATION
£1M
AGE
56
TENURE
4.6 yrs

Tim Jones

TITLE
CFO & Director
COMPENSATION
£881K
AGE
56
TENURE
9.5 yrs

Amy De Marsac

TITLE
Head of Investor Relations

Greg McMahon

TITLE
General Counsel & Company Secretary
AGE
59
TENURE
7.2 yrs

Chris Hopkins

TITLE
Commercial & Marketing Director
AGE
53

Susan Martindale

TITLE
Group HR Director
AGE
58
TENURE
7.4 yrs

David Gallacher

TITLE
Divisional Director
Board of Directors Tenure

Average tenure and age of the Mitchells & Butlers board of directors in years:

7
Average Tenure
56
Average Age
  • The tenure for the Mitchells & Butlers board of directors is about average.
Board of Directors

Bob Ivell

TITLE
Non-Executive Chairman
COMPENSATION
£286K
AGE
67
TENURE
8.8 yrs

Phil Urban

TITLE
CEO & Director
COMPENSATION
£1M
AGE
56
TENURE
4.6 yrs

Ron Robson

TITLE
Deputy Chairman of the Board
COMPENSATION
£54K
AGE
56
TENURE
8.8 yrs

Tim Jones

TITLE
CFO & Director
COMPENSATION
£881K
AGE
56
TENURE
9.5 yrs

Imelda Walsh

TITLE
Independent Non-Executive Director
COMPENSATION
£66K
AGE
55
TENURE
7 yrs

Colin Rutherford

TITLE
Independent Non-Executive Director
COMPENSATION
£67K
AGE
60
TENURE
7 yrs

Susan Murray

TITLE
Senior Independent Director
COMPENSATION
£37K
AGE
61
TENURE
1.1 yrs

Eddie Irwin

TITLE
Non-Executive Director
COMPENSATION
£54K
AGE
60
TENURE
8.1 yrs

Josh Levy

TITLE
Non-Executive Director
COMPENSATION
£54K
AGE
29
TENURE
4.4 yrs

Dave Coplin

TITLE
Independent Non-Executive Director
COMPENSATION
£58K
AGE
49
TENURE
4.2 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 Mitchells & Butlers'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. Mitchells & Butlers 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.

MABB News

Simply Wall St News

MABB Company Info

Description

Mitchells & Butlers plc manages pubs, bars, and restaurants in the United Kingdom and Germany. It operates its pubs and restaurants under the Harvester, Toby Carvery, All Bar One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Stonehouse, Vintage Inns, Browns, Castle, Nicholson’s, O’Neill’s, Innkeeper's Lodge, Alex, and Ember Inns brands and formats. The company is also involved in the leisure retailing; property leasing, management, and development; and financing activities, as well as operates as a healthcare trustee. In addition, it owns various trademarks. As of September 28, 2019, the company operated 1,748 pubs, bars, and restaurants. Mitchells & Butlers plc was founded in 1898 and is based in Birmingham, the United Kingdom.

Details
Name: Mitchells & Butlers plc
MABB
Exchange: DB
Founded: 1898
£815,867,290
426,385,336
Website: http://www.mbplc.com
Address: Mitchells & Butlers plc
27 Fleet Street,
Birmingham,
West Midlands, B3 1JP,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MAB Ordinary Shares London Stock Exchange GB GBP 31. Mar 2003
OTCPK MBPF.F Ordinary Shares Pink Sheets LLC US USD 31. Mar 2003
DB MABB Ordinary Shares Deutsche Boerse AG DE EUR 31. Mar 2003
BATS-CHIXE MABL Ordinary Shares BATS 'Chi-X Europe' GB GBP 31. Mar 2003
Number of employees
Current staff
Staff numbers
46,086
Mitchells & Butlers employees.
Industry
Restaurants
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 01:13
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2019/12/16
Last earnings reported: 2019/09/28
Last annual earnings reported: 2019/09/28


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.