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Pendal Group

DB:4B5
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4B5
DB
A$1B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Pendal Group Limited is a publicly owned investment manager the firm provides its services to individual and institutional clients. The last earnings update was 150 days ago. More info.


Add to Portfolio Compare Print
  • Pendal Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Pendal Group has significant price volatility in the past 3 months.
4B5 Share Price and Events
7 Day Returns
16.3%
DB:4B5
-3.5%
DE Capital Markets
-3%
DE Market
1 Year Returns
-
DB:4B5
-11.3%
DE Capital Markets
-20.6%
DE Market
4B5 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pendal Group (4B5) 16.3% -41.8% -55.2% - - -
DE Capital Markets -3.5% -21.2% -17.8% -11.3% -27.2% -56.6%
DE Market -3% -19.1% -26.2% -20.6% -25.6% -30.7%
1 Year Return vs Industry and Market
  • No trading data on 4B5.
  • No trading data on 4B5.
Price Volatility
4B5
Industry
5yr Volatility vs Market

4B5 Value

 Is Pendal Group undervalued based on future cash flows and its price relative to the stock market?

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

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

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pendal Group.

DB:4B5 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= A$3.01 * 18.5%
A$0.56
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. A$3.01
Discount Rate (Cost of Equity) See below 4.1%
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:4B5
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 30%) (0.28%))
0.831
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.831 * 5.44%)
4.13%

Discounted Cash Flow Calculation for DB:4B5 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Pendal Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:4B5 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (18.5% – 4.13%) * A$3.01)
A$0.43
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$0.43 / (4.13% - -0.39%)
A$9.55
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$3.01 + A$9.55
A$12.57
DB:4B5 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:4B5 represents 0.52043x of ASX:PDL
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.52043x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 12.57 x 0.52043
€6.54
Value per share (EUR) From above. €6.54
Current discount Discount to share price of €2.42
= -1 x (€2.42 - €6.54) / €6.54
63%

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

Current Discount
Amount off the current price Pendal Group is available for.
Intrinsic value
>50%
Share price is €2.42 vs Future cash flow value of €6.54
Current Discount Checks
For Pendal Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pendal Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pendal Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pendal Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pendal Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:4B5 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in AUD A$0.54
ASX:PDL Share Price ** ASX (2020-04-02) in AUD A$4.65
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
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 Pendal Group.

DB:4B5 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:PDL Share Price ÷ EPS (both in AUD)

= 4.65 ÷ 0.54

8.55x

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

  • Pendal Group is good value based on earnings compared to the DE Capital Markets industry average.
  • Pendal Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Pendal Group's expected growth come at a high price?
Raw Data
DB:4B5 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
4.6%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.53x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

DB:4B5 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.55x ÷ 4.6%

1.85x

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

  • Pendal Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pendal Group's assets?
Raw Data
DB:4B5 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in AUD A$3.20
ASX:PDL Share Price * ASX (2020-04-02) in AUD A$4.65
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.66x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:4B5 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:PDL Share Price ÷ Book Value per Share (both in AUD)

= 4.65 ÷ 3.20

1.45x

* Primary Listing of Pendal Group.

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

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

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

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

4B5 Future Performance

 How is Pendal Group expected to perform in the next 1 to 3 years based on estimates from 12 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
4.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pendal Group expected to grow at an attractive rate?
  • Pendal Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Pendal Group's earnings growth is positive but not above the Germany market average.
  • Pendal Group's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:4B5 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:4B5 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 4.6%
DB:4B5 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 3.4%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 37.7%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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:4B5 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:4B5 Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-09-30 621 254 234 1
2023-09-30 617 236 216 2
2022-09-30 544 182 154 10
2021-09-30 493 154 130 12
2020-09-30 479 156 143 12
2020-04-03
DB:4B5 Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-09-30 514 172 154
2019-06-30 521 179 158
2019-03-31 513 186 150
2018-12-31 543 214 171
2018-09-30 587 241 202
2018-06-30 571 251 190
2018-03-31 555 261 179
2017-12-31 526 236 163
2017-09-30 497 212 147
2017-06-30 479 186 145
2017-03-31 462 161 143
2016-12-31 480 168 142

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pendal Group's earnings are expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).
  • Pendal Group's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:4B5 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 12 Analyst Estimates (S&P Global) See Below

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

DB:4B5 Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-09-30 0.70 0.70 0.70 1.00
2023-09-30 0.68 0.71 0.65 2.00
2022-09-30 0.55 0.64 0.46 5.00
2021-09-30 0.42 0.57 0.28 8.00
2020-09-30 0.47 0.51 0.39 8.00
2020-04-03
DB:4B5 Past Financials Data
Date (Data in AUD Millions) EPS *
2019-09-30 0.54
2019-06-30 0.56
2019-03-31 0.53
2018-12-31 0.61
2018-09-30 0.72
2018-06-30 0.68
2018-03-31 0.65
2017-12-31 0.60
2017-09-30 0.55
2017-06-30 0.54
2017-03-31 0.54
2016-12-31 0.54

*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.
  • Pendal Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pendal Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the 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.
Pendal Group 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.

4B5 Past Performance

  How has Pendal Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pendal Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pendal Group's year on year earnings growth rate has been positive over the past 5 years.
  • Pendal Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pendal Group's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Pendal Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

DB:4B5 Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 514.30 154.48 66.11
2019-06-30 520.82 157.95 68.71
2019-03-31 512.81 150.42 71.31
2018-12-31 542.75 170.69 69.12
2018-09-30 587.23 201.97 66.93
2018-06-30 571.21 190.28 62.66
2018-03-31 555.19 178.59 58.39
2017-12-31 525.98 163.02 55.77
2017-09-30 496.78 147.46 53.15
2017-06-30 479.32 145.10 49.54
2017-03-31 461.86 142.74 45.92
2016-12-31 479.83 142.38 45.20
2016-09-30 497.80 142.03 44.48
2016-06-30 502.04 142.39 43.71
2016-03-31 506.28 142.75 42.95
2015-12-31 474.94 134.58 41.89
2015-09-30 443.60 126.42 40.83
2015-06-30 414.05 115.77 38.30
2015-03-31 384.50 105.12 35.78
2014-12-31 406.12 113.31 33.82
2014-09-30 427.74 121.50 31.87
2014-06-30 408.09 114.11 30.70
2014-03-31 388.44 106.72 29.52
2013-12-31 325.41 78.98 28.15
2013-09-30 262.38 51.25 26.77
2013-06-30 249.15 42.15 25.87

*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.
  • Pendal Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pendal Group used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Pendal Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pendal Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pendal Group has a total score of 2/6, see the detailed checks below.

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

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

4B5 Health

 How is Pendal Group's financial health and their level of debt?

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

The boxes below represent the relative size of what makes up Pendal Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pendal Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pendal Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pendal Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Pendal Group has no debt, it does not need to be covered by short term assets.
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 Pendal Group Company Filings, last reported 6 months ago.

DB:4B5 Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 910.70 0.00 149.04
2019-06-30 910.70 0.00 149.04
2019-03-31 871.81 0.00 75.04
2018-12-31 871.81 0.00 75.04
2018-09-30 893.56 0.00 168.13
2018-06-30 893.56 0.00 168.13
2018-03-31 847.45 0.00 126.50
2017-12-31 847.45 0.00 126.50
2017-09-30 795.73 0.00 194.20
2017-06-30 795.73 0.00 194.20
2017-03-31 724.81 0.00 126.10
2016-12-31 724.81 0.00 126.10
2016-09-30 743.84 0.12 174.23
2016-06-30 743.84 0.12 174.23
2016-03-31 731.09 26.47 146.97
2015-12-31 731.09 26.47 146.97
2015-09-30 761.87 31.84 166.75
2015-06-30 761.87 31.84 166.75
2015-03-31 688.42 56.82 111.05
2014-12-31 688.42 56.82 111.05
2014-09-30 643.10 63.56 130.15
2014-06-30 643.10 63.56 130.15
2014-03-31 621.34 75.22 107.68
2013-12-31 621.34 75.22 107.68
2013-09-30 561.46 81.33 83.65
2013-06-30 561.46 81.33 83.65
  • Pendal Group has no debt.
  • Pendal Group has no debt compared to 5 years ago when it was 9.9%.
  • Pendal Group has no debt, it does not need to be covered by operating cash flow.
  • Pendal Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Pendal Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pendal Group 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.

4B5 Dividends

 What is Pendal Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.68%
Current annual income from Pendal Group dividends. Estimated to be 9.32% next year.
If you bought €2,000 of Pendal Group shares you are expected to receive €194 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?
  • Pendal Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • Pendal Group's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
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:4B5 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 12 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 318 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 4.8%

Industry and Market average data is calculated daily.

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

DB:4B5 Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-09-30 0.64 1.00
2023-09-30 0.62 2.00
2022-09-30 0.46 11.00
2021-09-30 0.40 13.00
2020-09-30 0.39 13.00
2020-04-03
DB:4B5 Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-11-05 0.450 6.251
2019-06-11 0.500 7.000
2018-11-07 0.520 6.360
2018-05-09 0.480 5.235
2017-11-07 0.450 4.296
2016-11-02 0.420 3.916
2016-05-04 0.380 4.228
2015-10-28 0.370 3.495
2015-04-28 0.360 3.800
2014-10-29 0.380 5.010
2014-04-30 0.320 4.965
2013-10-30 0.200 3.381
2012-11-01 0.125 3.950
2012-10-31 0.125 5.750
2012-04-30 0.155 8.090
2011-10-31 0.160 8.095
2011-05-02 0.160 7.198
2010-11-01 0.200 7.122
2009-10-29 0.079 2.881
2009-04-30 0.084 3.628

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pendal Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Pendal Group'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 Pendal Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pendal Group has a total score of 5/6, see the detailed checks below.


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

4B5 Management

 What is the CEO of Pendal Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Emilio Gonzalez
COMPENSATION A$2,879,169
TENURE AS CEO 10.3 years
CEO Bio

Mr. Emilio Gonzalez, BCom (Ec) CFA is serving as Director at JOHCM (USA) Inc. He has been the Group Chief Executive Officer and Managing Director at BT Investment Management Limited since January 22, 2010 and has been its Director since January 1, 2013. He served as its Acting Group Chief Risk Officer. He also serves as Director at J O Hambro Capital Management Limited. Prior to that, he was the Group Executive of Global Equities at Perpetual Limited and was previously Chief Investment Officer for seven years and Head of Research. He was responsible for establishing and running a currency program, tactical asset allocation strategies and the firm's diversified and balanced funds. Previously, Mr. Gonzalez was the Chief Dealer at Nikko Securities (Australia) Limited and a Retail Client Adviser at Norths Stockbroking Limited. He is the Chairman and Director of BT Investment Management (Fund Services) Limited and BT Investment Management (Institutional) Limited, Director of J O Hambro Capital Management Holdings Limited, Director of BTIM UK Limited and a Director of JOHCM (USA) Inc. Previously, Mr. Gonzalez was a Director of PI Investment Management Ltd. He is a Member of Board of Governors of the CFA Institute. Previously, Mr. Gonzalez was the President of the Sydney Society of Financial Analysts from 1999 to 2001. He received the Chartered Financial Analyst designation from AIMR in 1992. Mr. Gonzalez has completed the Advance Portfolio Management course from New York Institute of Finance in 2000. He has earned a Bachelor of Commerce degree in Economics from University of Wollongong in 1985 and a graduate diploma in Applied Finance from the Securities Institute in 1990.

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

Average tenure of the Pendal Group management team in years:

2.1
Average Tenure
  • The tenure for the Pendal Group management team is about average.
Management Team

Emilio Gonzalez

TITLE
Group CEO
COMPENSATION
A$3M
TENURE
10.3 yrs

Cameron Williamson

TITLE
Group Chief Financial Officer
COMPENSATION
A$993K
TENURE
10.2 yrs

Richard Brandweiner

TITLE
CEO of Pendal Australia & Member of Global Executive Committee
COMPENSATION
A$1M
TENURE
2.2 yrs

Bindesh Savjani

TITLE
Global Chief Risk Officer
COMPENSATION
A$2M
TENURE
1.2 yrs

Alexandra Altinger

TITLE
CEO of JOHCM UK
COMPENSATION
A$593K

Nicola Scott

TITLE
Chief Financial Officer

Justin Howell

TITLE
Chief Operating Officer

Daniel Campbell

TITLE
Investment Director
TENURE
2 yrs

Paul Booth

TITLE
Head of Data & Technology

Dale Pereira

TITLE
Head of Client Solutions
TENURE
1.8 yrs
Board of Directors Tenure

Average tenure and age of the Pendal Group board of directors in years:

6
Average Tenure
59
Average Age
  • The tenure for the Pendal Group board of directors is about average.
Board of Directors

Jim Evans

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$423K
TENURE
6.3 yrs

Emilio Gonzalez

TITLE
Group CEO
COMPENSATION
A$3M
TENURE
7.3 yrs

Andy Fay

TITLE
Independent Non-Executive Director
COMPENSATION
A$218K
AGE
54
TENURE
8.5 yrs

Debbie Page

TITLE
Independent Non-Executive Director
COMPENSATION
A$218K
AGE
60
TENURE
6 yrs

Kathryn Matthews

TITLE
Independent Non-Executive Director
COMPENSATION
A$231K
AGE
59
TENURE
3.3 yrs

Sally Collier

TITLE
Independent Non-Executive Director
COMPENSATION
A$218K
TENURE
1.8 yrs

Chris Jones

TITLE
Independent Non-Executive Director
COMPENSATION
A$209K
TENURE
1.4 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 (€)
19. Mar 20 Sell Challenger Limited Company 04. Mar 20 17. Mar 20 -3,380,635 €2.37 €-8,015,222
19. Mar 20 Buy Challenger Limited Company 05. Mar 20 17. Mar 20 1,938,602 €2.74 €5,308,079
05. Mar 20 Sell Challenger Limited Company 03. Mar 20 03. Mar 20 -116,130 €4.31 €-500,269
05. Mar 20 Buy Challenger Limited Company 03. Mar 20 03. Mar 20 358,199 €4.26 €1,526,565
27. Feb 20 Sell Lazard Asset Management LLC Company 25. Feb 20 25. Feb 20 -1,355,696 €5.00 €-6,776,120
24. Dec 19 Sell Challenger Limited Company 30. Aug 19 14. Dec 19 -611,262 €5.11 €-2,920,759
24. Dec 19 Buy Challenger Limited Company 30. Aug 19 20. Dec 19 4,263,186 €5.14 €21,904,360
13. Nov 19 Buy Sally Collier Individual 11. Nov 19 11. Nov 19 10,000 €4.92 €49,178
31. Oct 19 Sell Pinnacle Investment Management Limited Company 02. Jul 19 01. Oct 19 -3,212,897 €3.61 €-11,586,853
31. Oct 19 Buy Pinnacle Investment Management Limited Company 06. Aug 19 30. Oct 19 2,346,761 €3.50 €8,222,701
03. Oct 19 Sell Lazard Asset Management LLC Company 30. May 19 17. Jul 19 -345,161 €4.63 €-1,544,653
03. Oct 19 Buy Lazard Asset Management LLC Company 22. May 19 01. Oct 19 4,539,989 €5.08 €21,013,099
02. Sep 19 Sell Advance Asset Management Limited Company 14. Feb 19 29. Aug 19 -4,805,149 €4.28 €-20,579,046
02. Sep 19 Sell Westpac Banking Corporation Company 27. Dec 18 30. Aug 19 -733,964 €5.42 €-3,159,756
02. Sep 19 Buy Westpac Banking Corporation Company 21. Dec 18 29. Aug 19 301,260 €5.05 €1,467,241
23. May 19 Buy Lazard Asset Management LLC Company 28. Mar 19 21. May 19 1,282,792 €5.62 €6,176,989
16. May 19 Buy Sally Collier Individual 15. May 19 15. May 19 5,000 €4.73 €23,634
14. May 19 Buy Kathryn Matthews Individual 08. May 19 08. May 19 15,000 €4.70 €70,472
06. May 19 Buy Deborah Page Individual 06. May 19 06. May 19 3,092 €4.80 €14,857
06. May 19 Buy James Evans Individual 06. May 19 06. May 19 5,891 €4.82 €28,409
X
Management checks
We assess Pendal Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pendal Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

4B5 News

Simply Wall St News

4B5 Company Info

Description

Pendal Group Limited is a publicly owned investment manager the firm provides its services to individual and institutional clients. It launches and manages equity, fixed income, multi-assets and balanced mutual funds. The firm invests in the public equity, fixed income, and alternative investment markets across the globe. The firm uses fundamental along with bottom up stock selection process to make its investments. The firm conducts in-house research to make its investments. The firm conducts in-house research to make its investments.

Details
Name: Pendal Group Limited
4B5
Exchange: DB
Founded: 2007
A$744,914,981
286,690,032
Website: http://www.pendalgroup.com
Address: Pendal Group Limited
The Chifley Tower,
Level 14,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX PDL Ordinary Shares Australian Securities Exchange AU AUD 10. Dec 2007
DB 4B5 Ordinary Shares Deutsche Boerse AG DE EUR 10. Dec 2007
CHIA PDL Ordinary Shares Chi-X Australia AU AUD 10. Dec 2007
Number of employees
Current staff
Staff numbers
346
Pendal Group employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 05:07
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2019/11/05
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/09/30


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.