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GAIN Capital Holdings

DB:58G
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
58G
DB
$209M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

GAIN Capital Holdings, Inc., together with its subsidiary, provides trading services and solutions to retail, institutional, and futures service customers worldwide. The last earnings update was 16 days ago. More info.


Add to Portfolio Compare Print
  • GAIN Capital Holdings has significant price volatility in the past 3 months.
58G Share Price and Events
7 Day Returns
4.6%
DB:58G
3%
DE Capital Markets
2.2%
DE Market
1 Year Returns
-13.3%
DB:58G
-6.9%
DE Capital Markets
-17.2%
DE Market
58G Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GAIN Capital Holdings (58G) 4.6% -5.5% 41.7% -13.3% -38.6% -43.5%
DE Capital Markets 3% -17.7% -13.1% -6.9% -24.7% -54.9%
DE Market 2.2% -15.7% -24% -17.2% -23.3% -27.8%
1 Year Return vs Industry and Market
  • 58G underperformed the Capital Markets industry which returned -6.9% over the past year.
  • 58G outperformed the Market in Germany which returned -17.2% over the past year.
Price Volatility
58G
Industry
5yr Volatility vs Market

58G Value

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

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

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

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

DB:58G Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $6.53 * 3.5%
$0.23
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $6.53
Discount Rate (Cost of Equity) See below 5.8%
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:58G
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))
= 0.753 (1 + (1- 21%) (74.01%))
1.129
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.129 * 5.44%)
5.75%

Discounted Cash Flow Calculation for DB:58G using Excess Returns Model Model

The calculations below outline how an intrinsic value for GAIN Capital Holdings 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:58G Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (3.5% – 5.75%) * $6.53)
$-0.15
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.15 / (5.75% - -0.39%)
$-2.40
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $6.53 + $-2.40
$4.13
DB:58G Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:58G represents 0.90182x of NYSE:GCAP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90182x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 4.13 x 0.90182
€3.72
Value per share (EUR) From above. €3.72
Current discount Discount to share price of €4.96
= -1 x (€4.96 - €3.72) / €3.72
-33.2%

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

  • The current share price of GAIN Capital Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GAIN Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GAIN Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:58G PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-1.63
NYSE:GCAP Share Price ** NYSE (2020-04-01) in USD $5.5
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 22.55x
Germany Market PE Ratio Median Figure of 398 Publicly-Listed Companies 16.76x

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

** Primary Listing of GAIN Capital Holdings.

DB:58G PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:GCAP Share Price ÷ EPS (both in USD)

= 5.5 ÷ -1.63

-3.38x

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

  • GAIN Capital Holdings is loss making, we can't compare its value to the DE Capital Markets industry average.
  • GAIN Capital Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does GAIN Capital Holdings's expected growth come at a high price?
Raw Data
DB:58G PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
141.9%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 1.59x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for GAIN Capital Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GAIN Capital Holdings's assets?
Raw Data
DB:58G PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $6.26
NYSE:GCAP Share Price * NYSE (2020-04-01) in USD $5.5
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.44x
DB:58G PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:GCAP Share Price ÷ Book Value per Share (both in USD)

= 5.5 ÷ 6.26

0.88x

* Primary Listing of GAIN Capital Holdings.

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

  • GAIN Capital Holdings is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess GAIN Capital Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the 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. GAIN Capital Holdings has a total score of 1/6, 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.

58G Future Performance

 How is GAIN Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 5 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
141.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GAIN Capital Holdings expected to grow at an attractive rate?
  • GAIN Capital Holdings's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • GAIN Capital Holdings's earnings growth is expected to exceed the Germany market average.
  • GAIN Capital Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:58G Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:58G Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 141.9%
DB:58G Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 15.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 39.4%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*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:58G Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:58G Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 304 30 4
2020-12-31 279 9 5
2020-04-01
DB:58G Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 221 125 -61
2019-09-30 244 -19 -30
2019-06-30 273 -68 -18
2019-03-31 282 -125 -13
2018-12-31 341 -129 26
2018-09-30 330 -93 20
2018-06-30 307 -49 8
2018-03-31 313 -73 16
2017-12-31 266 6 -14
2017-09-30 319 25 14
2017-06-30 319 142 11
2017-03-31 338 143 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GAIN Capital Holdings's earnings are expected to grow significantly at over 20% yearly.
  • GAIN Capital Holdings's revenue is expected to grow by 15.8% 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:58G Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

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

DB:58G Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.80 1.00 0.61 2.00
2020-12-31 0.25 0.53 0.00 3.00
2020-04-01
DB:58G Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -1.63
2019-09-30 -0.79
2019-06-30 -0.46
2019-03-31 -0.32
2018-12-31 0.60
2018-09-30 0.45
2018-06-30 0.17
2018-03-31 0.35
2017-12-31 -0.30
2017-09-30 0.29
2017-06-30 0.22
2017-03-31 0.12

*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.
  • GAIN Capital Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GAIN Capital Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the 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.
GAIN Capital Holdings has a total score of 4/6, 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.

58G Past Performance

  How has GAIN Capital Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GAIN Capital Holdings'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.
  • GAIN Capital Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare GAIN Capital Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare GAIN Capital Holdings's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
GAIN Capital Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

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

DB:58G Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 220.69 -60.76 169.15
2019-09-30 243.99 -30.28 180.69
2019-06-30 272.83 -18.36 182.90
2019-03-31 281.50 -13.30 181.72
2018-12-31 341.42 26.42 181.95
2018-09-30 329.55 20.14 170.48
2018-06-30 306.96 7.74 163.44
2018-03-31 313.23 16.04 161.89
2017-12-31 265.72 -13.82 157.06
2017-09-30 318.93 13.64 168.55
2017-06-30 318.99 10.76 172.01
2017-03-31 337.65 5.62 179.45
2016-12-31 374.03 26.84 176.62
2016-09-30 388.64 23.42 188.68
2016-06-30 444.57 31.29 201.49
2016-03-31 443.28 14.10 206.33
2015-12-31 421.80 10.59 196.28
2015-09-30 438.58 16.78 192.21
2015-06-30 409.30 23.52 178.14
2015-03-31 373.66 26.81 163.46
2014-12-31 361.44 22.77 161.80
2014-09-30 331.03 6.36 159.26
2014-06-30 295.36 2.82 147.46
2014-03-31 299.56 24.73 136.57
2013-12-31 270.06 27.95 125.00
2013-09-30 217.10 23.10 108.23
2013-06-30 196.49 20.72 102.21

*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.
  • It is difficult to establish if GAIN Capital Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if GAIN Capital Holdings has efficiently used its assets last year compared to the DE Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if GAIN Capital Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess GAIN Capital Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the 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.
GAIN Capital Holdings has a total score of 0/6, 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.

58G Health

 How is GAIN Capital Holdings's financial health and their level of debt?

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

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GAIN Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GAIN Capital Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GAIN Capital Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 9.2x 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 GAIN Capital Holdings Company Filings, last reported 3 months ago.

DB:58G Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 234.70 137.18 1,119.34
2019-09-30 252.98 136.94 1,050.53
2019-06-30 262.89 135.30 1,064.19
2019-03-31 269.50 133.68 1,087.71
2018-12-31 297.77 132.11 1,121.33
2018-09-30 359.75 136.86 1,249.63
2018-06-30 355.36 135.29 1,280.68
2018-03-31 307.95 133.73 1,202.93
2017-12-31 290.16 132.22 1,188.52
2017-09-30 292.96 130.58 1,185.20
2017-06-30 295.52 127.28 1,140.47
2017-03-31 279.11 126.01 1,225.81
2016-12-31 300.78 124.77 1,180.23
2016-09-30 306.69 123.55 1,290.32
2016-06-30 316.75 122.35 1,150.26
2016-03-31 318.79 121.19 1,065.69
2015-12-31 317.13 121.74 1,092.51
2015-09-30 317.32 120.87 1,173.06
2015-06-30 326.88 119.76 1,244.43
2015-03-31 265.67 69.02 916.86
2014-12-31 261.26 68.37 898.91
2014-09-30 262.77 67.73 931.91
2014-06-30 245.47 67.09 852.89
2014-03-31 249.35 66.47 845.91
2013-12-31 234.40 65.36 779.19
2013-09-30 222.85 33.20 712.39
2013-06-30 179.05 10.00 536.78
  • GAIN Capital Holdings's level of debt (58.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (26.2% vs 58.4% today).
  • Debt is well covered by operating cash flow (91%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on GAIN Capital Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess GAIN Capital Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GAIN Capital Holdings has a total score of 3/6, 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.

58G Dividends

 What is GAIN Capital Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.36%
Current annual income from GAIN Capital Holdings dividends. Estimated to be 4.36% next year.
If you bought €2,000 of GAIN Capital Holdings shares you are expected to receive €87 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?
  • GAIN Capital Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • GAIN Capital Holdings's dividend is below the markets top 25% of dividend payers in Germany (4.87%).
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:58G 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 5 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
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:58G Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.24 1.00
2020-04-01
DB:58G Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-03-16 0.240 4.621
2020-02-27 0.240 4.108
2019-11-08 0.240 6.080
2019-10-25 0.240 5.593
2019-08-08 0.240 5.041
2019-07-25 0.240 5.568
2019-05-10 0.240 5.696
2019-04-25 0.240 4.702
2019-03-11 0.240 3.896
2019-02-28 0.240 3.368
2018-11-06 0.240 3.496
2018-10-25 0.240 3.158
2018-04-26 0.240 3.209
2018-03-08 0.240 3.283
2017-11-08 0.240 3.176
2017-10-26 0.240 3.394
2017-08-08 0.240 3.737
2017-08-03 0.240 3.431
2017-05-10 0.240 3.923
2017-05-04 0.240 3.862
2017-03-15 0.240 3.084
2017-03-09 0.240 2.962
2016-11-08 0.240 3.432
2016-11-03 0.240 4.752
2016-08-09 0.200 3.352
2016-08-04 0.200 3.003
2016-05-09 0.200 2.997
2016-05-05 0.200 2.928
2015-11-03 0.200 2.802
2015-08-06 0.200 2.602
2015-05-11 0.200 2.270
2015-05-05 0.200 2.030
2015-03-16 0.200 2.042
2015-02-26 0.200 2.031
2014-08-11 0.200 2.593
2014-05-12 0.200 2.726
2014-05-08 0.200 2.391
2013-10-31 0.200 2.100
2013-08-07 0.200 2.064
2013-05-07 0.200 3.498
2013-03-06 0.200 4.271
2012-11-01 0.200 4.677
2012-07-31 0.200 4.241
2012-05-09 0.200 4.093
2012-02-28 0.200 3.864
2011-10-27 0.200 3.056

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

  • Whilst dividend payments have been stable, GAIN Capital Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but GAIN Capital Holdings only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of GAIN Capital Holdings's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess GAIN Capital Holdings'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 GAIN Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GAIN Capital Holdings has a total score of 1/6, see the detailed checks below.


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

58G Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Glenn Stevens
COMPENSATION $3,771,507
AGE 56
TENURE AS CEO 12.8 years
CEO Bio

Mr. Glenn H. Stevens has been the Chief Executive Officer of GAIN Capital Group, LLC since June 16, 2007. Mr. Stevens has been the Chief Executive Officer and President of GAIN Capital Holdings, Inc. since June 2007. He served as Managing Director of GAIN Capital Group, LLC until June 16, 2007. Prior to joining GAIN in 2000, he served as Managing Director, Head of North American sales and trading of Natwest Bank. He served as a Senior Member of Natwest's North American Management Committee, during which time he spearheaded its e-commerce initiative in North America and relocated its entire trading floor. From 1990 to 1997, he served at Merrill Lynch and Co., and served as a USD/JPY Trader and served as its Managing Director and Chief Dealer for Spot and Forward FX. During this time he served as the Federal Reserve Bank's FX representative for investment banks. His Wall Street career began at Bankers Trust Company, where since 1984, he served as Corporate Sales Desk before quickly moving into a trading position on the spot FX desk and as Vice President until 1990. He has 25 years of FX experience includes senior trading positions at some of Wall Street's most prestigious financial institutions. Mr. Stevens has been a Director of GAIN Capital Holdings, Inc. since June 2007. He serves as a Director of Compliance Science, Inc. Mr. Stevens serves as a Director of GAIN Capital Group, Inc. Widely known and respected in the industry, he is a frequent Guest on CNBC and has also appeared as FX Market Analyst on FOX News' Your World with Neil Cavuto, CNNfn and Bloomberg Radio, among others. Mr. Stevens holds an MBA in Finance from Columbia University and a BS in Finance from Bucknell University.

CEO Compensation
  • Glenn's compensation has increased whilst company is loss making.
  • Glenn's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the GAIN Capital Holdings management team in years:

4.9
Average Tenure
53
Average Age
  • The tenure for the GAIN Capital Holdings management team is about average.
Management Team

Glenn Stevens

TITLE
President
COMPENSATION
$4M
AGE
56
TENURE
12.8 yrs

Nigel Rose

TITLE
Chief Financial Officer
COMPENSATION
$937K
AGE
53
TENURE
4.5 yrs

Alastair Hine

TITLE
Chief Operating Officer
COMPENSATION
$819K
AGE
45
TENURE
2.4 yrs

Diego Rotsztain

TITLE
Head of Corporate Development
COMPENSATION
$1M
AGE
49
TENURE
9.3 yrs

Tim O'Sullivan

TITLE
Chief Risk Officer
COMPENSATION
$2M
AGE
55
TENURE
7.3 yrs

Graham Beale

TITLE
Head of Business Development - GTX
TENURE
5.7 yrs

John Miesner

TITLE
MD & Head of Global Sales - GTX
TENURE
5.3 yrs

Alex Howard

TITLE
Managing Director of Asia Pacific
TENURE
1.6 yrs

Boris Levine

TITLE
Head of IT Development
TENURE
1.3 yrs

Rasmus Hansen

TITLE
Head of Infrastructure Technology
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the GAIN Capital Holdings board of directors in years:

9
Average Tenure
58
Average Age
  • The tenure for the GAIN Capital Holdings board of directors is about average.
Board of Directors

Joe Schenk

TITLE
Chairman of the Board
COMPENSATION
$189K
AGE
60
TENURE
2.6 yrs

Glenn Stevens

TITLE
President
COMPENSATION
$4M
AGE
56
TENURE
12.8 yrs

Peter Quick

TITLE
Independent Director
COMPENSATION
$142K
AGE
63
TENURE
13.3 yrs

Chris Calhoun

TITLE
Independent Director
COMPENSATION
$142K
AGE
49
TENURE
9.5 yrs

Tom Bevilacqua

TITLE
Independent Director
COMPENSATION
$95K
AGE
62
TENURE
9 yrs

Alex Goor

TITLE
Independent Director
COMPENSATION
$142K
AGE
47
TENURE
2.6 yrs

John Rhoten

TITLE
Director
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • GAIN Capital Holdings individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Mar 20 Sell Diego Rotsztain Individual 18. Mar 20 18. Mar 20 -3,746 €4.76 €-17,816
20. Mar 20 Sell Alastair Hine Individual 18. Mar 20 18. Mar 20 -4,106 €4.76 €-19,528
X
Management checks
We assess GAIN Capital Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GAIN Capital Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

58G News

Simply Wall St News

58G Company Info

Description

GAIN Capital Holdings, Inc., together with its subsidiary, provides trading services and solutions to retail, institutional, and futures service customers worldwide. The company operates in two segments, Retail and Futures. It specializes in over-the-counter (OTC) and exchange-traded markets. The company offers access to a range of financial products, including spot foreign exchange (forex) and precious metals trading; and spread bets and contracts for differences on currencies, commodities, indices, individual equities, bonds, options, and interest rate products, as well as OTC options on forex. It provides services to retail customers through FOREX.com and Cityindex.com, as well as through brokers and white label partners. The company offers execution and risk management services for exchange-traded futures and futures options on the United States and European futures and options exchanges; and online trading services. GAIN Capital Holdings, Inc. was founded in 1999 and is headquartered in Bedminster, New Jersey.

Details
Name: GAIN Capital Holdings, Inc.
58G
Exchange: DB
Founded: 1999
$190,446,727
37,505,756
Website: http://www.gaincapital.com
Address: GAIN Capital Holdings, Inc.
Bedminster One,
Suite 11,
Bedminster,
New Jersey, 07921,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE GCAP Common Stock New York Stock Exchange US USD 15. Dec 2010
DB 58G Common Stock Deutsche Boerse AG DE EUR 15. Dec 2010
Number of employees
Current staff
Staff numbers
676
GAIN Capital Holdings employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 22:39
End of day share price update: 2020/04/01 00:00
Last estimates confirmation: 2020/03/09
Last earnings filing: 2020/03/16
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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

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