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ASX

DB:AUX
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AUX
DB
A$14B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • ASX has significant price volatility in the past 3 months.
AUX Share Price and Events
7 Day Returns
7.1%
DB:AUX
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
-9.1%
DB:AUX
-8.8%
DE Capital Markets
-17.5%
DE Market
AUX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ASX (AUX) 7.1% -13.3% -21.6% -9.1% 10.8% 38.7%
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • AUX matched the Capital Markets industry (-8.8%) over the past year.
  • AUX outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
AUX
Industry
5yr Volatility vs Market

Value

 Is ASX 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 ASX 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 ASX.

DB:AUX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 9 analysts.
= Stable Book Value * Return on Equity
= A$19.89 * 13.6%
A$2.71
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. A$19.89
Discount Rate (Cost of Equity) See below 4.2%
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:AUX
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))
= 0.754 (1 + (1- 30%) (0.59%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.837 * 5.44%)
4.17%

Discounted Cash Flow Calculation for DB:AUX using Excess Returns Model Model

The calculations below outline how an intrinsic value for ASX 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:AUX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.6% – 4.17%) * A$19.89)
A$1.88
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$1.88 / (4.17% - -0.39%)
A$41.26
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$19.89 + A$41.26
A$61.15
DB:AUX Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AUX represents 0.54046x of ASX:ASX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.54046x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 61.15 x 0.54046
€33.05
Value per share (EUR) From above. €33.05
Current discount Discount to share price of €39.20
= -1 x (€39.20 - €33.05) / €33.05
-18.6%

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

  • The current share price of ASX 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 ASX's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ASX's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AUX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$2.56
ASX:ASX Share Price ** ASX (2020-03-27) in AUD A$72.53
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

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

** Primary Listing of ASX.

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

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

= 72.53 ÷ 2.56

28.29x

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

  • ASX is overvalued based on earnings compared to the DE Capital Markets industry average.
  • ASX is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does ASX's expected growth come at a high price?
Raw Data
DB:AUX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
4.5%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.29x ÷ 4.5%

6.25x

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

  • ASX is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ASX's assets?
Raw Data
DB:AUX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$19.09
ASX:ASX Share Price * ASX (2020-03-27) in AUD A$72.53
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:AUX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 72.53 ÷ 19.09

3.8x

* Primary Listing of ASX.

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

  • ASX is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess ASX'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. ASX has a total score of 0/6, see the detailed checks below.

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

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

Future Performance

 How is ASX expected to perform in the next 1 to 3 years based on estimates from 11 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
4.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ASX expected to grow at an attractive rate?
  • ASX's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • ASX's earnings growth is positive but not above the Germany market average.
  • ASX's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AUX Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AUX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 4.5%
DB:AUX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 3.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*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:AUX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AUX Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30 1,115 669 605 1
2023-06-30 1,061 635 581 2
2022-06-30 1,012 583 546 9
2021-06-30 964 564 522 10
2020-06-30 920 677 503 10
2020-03-28
DB:AUX Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 1,094 334 496
2019-09-30 1,092 212 494
2019-06-30 1,089 90 492
2019-03-31 1,071 187 476
2018-12-31 1,053 335 461
2018-09-30 1,033 351 453
2018-06-30 1,013 367 445
2018-03-31 991 439 445
2017-12-31 968 511 445
2017-09-30 950 497 440
2017-06-30 932 484 434
2017-03-31 925 469 433

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ASX's earnings are expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
  • ASX's revenue is expected to grow by 3.8% 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:AUX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from ASX Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AUX Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30 3.13 3.13 3.13 1.00
2023-06-30 3.00 3.09 2.95 3.00
2022-06-30 2.82 2.88 2.79 6.00
2021-06-30 2.70 2.75 2.63 8.00
2020-06-30 2.60 2.64 2.55 8.00
2020-03-28
DB:AUX Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 2.56
2019-09-30 2.55
2019-06-30 2.54
2019-03-31 2.46
2018-12-31 2.38
2018-09-30 2.34
2018-06-30 2.30
2018-03-31 2.30
2017-12-31 2.30
2017-09-30 2.27
2017-06-30 2.24
2017-03-31 2.24

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

Past Performance

  How has ASX 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 ASX'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.
  • ASX's year on year earnings growth rate has been positive over the past 5 years.
  • ASX's 1-year earnings growth exceeds its 5-year average (7.7% vs 4.5%)
  • ASX's earnings growth has exceeded the DE Capital Markets industry average in the past year (7.7% vs 5.1%).
Earnings and Revenue History
ASX'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 ASX Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AUX Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 1,094.30 496.30 195.40
2019-09-30 1,091.85 494.15 191.15
2019-06-30 1,089.40 492.00 186.90
2019-03-31 1,071.05 476.35 182.95
2018-12-31 1,052.70 460.70 179.00
2018-09-30 1,032.85 452.90 175.15
2018-06-30 1,013.00 445.10 171.30
2018-03-31 990.70 445.15 166.85
2017-12-31 968.40 445.20 162.40
2017-09-30 950.25 439.65 158.80
2017-06-30 932.10 434.10 155.20
2017-03-31 925.20 433.30 151.75
2016-12-31 918.30 432.50 148.30
2016-09-30 913.30 429.35 146.55
2016-06-30 908.30 426.20 144.80
2016-03-31 901.45 419.25 146.50
2015-12-31 894.60 412.30 148.20
2015-09-30 881.30 405.05 146.90
2015-06-30 868.00 397.80 145.60
2015-03-31 849.95 395.00 140.95
2014-12-31 831.90 392.20 136.30
2014-09-30 820.20 387.70 134.75
2014-06-30 808.50 383.20 133.20
2014-03-31 805.00 374.95 133.10
2013-12-31 801.50 366.70 133.00
2013-09-30 792.70 357.45 132.55
2013-06-30 783.90 348.20 132.10
2013-03-31 772.40 341.45 131.15

*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.
  • ASX has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ASX used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • ASX has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess ASX'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.
ASX has a total score of 5/6, see the detailed checks below.

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

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

Health

 How is ASX'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 ASX's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ASX is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ASX's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ASX'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.
  • ASX 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 ASX Company Filings, last reported 2 months ago.

DB:AUX Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,696.00 0.00 1,188.00
2019-09-30 3,696.00 0.00 1,188.00
2019-06-30 3,916.40 0.00 1,469.30
2019-03-31 3,916.40 0.00 1,469.30
2018-12-31 3,878.80 0.00 1,140.00
2018-09-30 3,878.80 0.00 1,140.00
2018-06-30 3,945.50 0.00 1,069.50
2018-03-31 3,945.50 0.00 1,069.50
2017-12-31 3,925.20 0.00 1,384.50
2017-09-30 3,925.20 0.00 1,384.50
2017-06-30 3,908.10 0.00 929.40
2017-03-31 3,908.10 0.00 929.40
2016-12-31 3,874.10 0.00 1,014.50
2016-09-30 3,874.10 0.00 1,014.50
2016-06-30 3,824.10 0.00 913.10
2016-03-31 3,824.10 0.00 913.10
2015-12-31 3,787.20 0.00 976.30
2015-09-30 3,787.20 0.00 976.30
2015-06-30 3,759.70 0.00 921.30
2015-03-31 3,759.70 0.00 921.30
2014-12-31 3,751.90 0.00 958.40
2014-09-30 3,751.90 0.00 958.40
2014-06-30 3,670.90 0.00 958.00
2014-03-31 3,670.90 0.00 958.00
2013-12-31 3,676.20 0.00 966.80
2013-09-30 3,676.20 0.00 966.80
2013-06-30 3,321.80 0.00 671.60
2013-03-31 3,321.80 0.00 671.60
  • ASX has no debt.
  • ASX has not taken on any debt in the past 5 years.
  • ASX has no debt, it does not need to be covered by operating cash flow.
  • ASX has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess ASX'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. ASX has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.18%
Current annual income from ASX dividends. Estimated to be 3.38% next year.
If you bought €2,000 of ASX shares you are expected to receive €64 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?
  • ASX's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • ASX's dividend is below the markets top 25% of dividend payers in Germany (4.96%).
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:AUX 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 11 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 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 5%

Industry and Market average data is calculated daily.

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

DB:AUX Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-06-30 2.81 1.00
2023-06-30 2.70 3.00
2022-06-30 2.53 10.00
2021-06-30 2.42 12.00
2020-06-30 2.34 12.00
2020-03-28
DB:AUX Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-12 2.307 3.085
2019-08-14 2.287 2.779
2019-02-13 2.288 2.992
2018-08-15 2.163 3.477
2018-02-14 2.070 3.410
2017-08-16 2.018 3.705
2017-02-16 2.010 3.901
2016-08-17 1.981 4.059
2016-02-10 1.982 4.470
2015-08-19 1.902 4.760
2015-02-11 1.846 4.395
2014-08-20 1.781 4.890
2014-02-12 1.705 4.739
2013-08-21 1.702 4.755
2013-02-20 1.730 4.820
2012-08-15 1.779 5.726
2011-08-18 1.832 6.025
2011-08-17 1.832 6.221
2011-02-17 1.742 5.426
2010-08-19 1.731 4.923
2010-08-18 1.731 5.780
2009-08-20 1.490 4.519

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of ASX's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess ASX'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 ASX afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. ASX has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of ASX'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
Dominic Stevens
COMPENSATION A$3,919,093
TENURE AS CEO 3.6 years
CEO Bio

Mr. Dominic John Stevens, BCom (Hons) has been the Chief Executive Officer and Managing Director of ASX Limited and Australian Securities Exchange Limited since August 1, 2016. Mr. Stevens has been an Executive Director at ASX Limited since August 1, 2016. Mr. Stevens has over 30 years’ experience in financial markets. He served as the Chief Executive Officer and Managing Director at Challenge Limited from September 2008 to February 2012. He served as the Deputy Managing Director and General Manager of Capital Management at Challenge Limited from February 2006 to September 2008. He was Deputy CEO and head of capital, risk and strategy at Challenger Limited. He served as Managing Director and Chief Executive Officer at Challenger Limited from September 2008 to February 2012. He served as Deputy Managing Director at Challenger Limited February 2006 to September 2008 and served as its General Manager - Capital Management. He joined Challenger Limited in September 2003, with responsibility for overseeing Challenger's capital, risk management and strategy. Mr. Stevens served as the Chief Executive Officer at Challenger International S.A. until February 2012 and Challenger Life Company Limited until February 17, 2012. He served as the Deputy Managing Director at Challenger Financial Service Group from February 2006 to September 1, 2008. Prior to Challenger, Mr. Stevens served as a Senior Managing Director at Zurich Capital Markets Asia Ltd, where he specialized in the areas of structured finance, derivative solutions and risk management products to investors in alternative assets. From 1987 to 1999, he held a number of senior roles, including as Global Partner, at Bankers Trust Company, where he had responsibility for the Australian derivatives and global metals and agricultural commodity derivatives businesses. He has been a Director of Challenger Financial Service Group Limited since September 1, 2008. He serves as an Independent and Non-Executive Director at Australian Securities Exchange Limited. He has been Director of ASX Clear Pty Limited since August 11, 2016. He has been a Director of ASX Clear (Futures) Pty Limited since March 18, 2014. He is a director of the ASX Group clearing and settlement licensees and their intermediate holding companies. He served as Independent Non-Executive Director of ASX Limited since December 19, 2013 until August 1, 2016. He served as Director at Challenger Life Company Limited until February 2012. He served as Director at Challenger Limited from September 2008 to February 2012. He served as a Non-Executive Director of Homeloans Limited from May 3, 2007 to October 28, 2008. He is a Chartered Accountant and a Member of the Australian Institute of Company Directors. Mr. Stevens received a Bachelor of Commerce (Hons) and Finance from University of New South Wales, Sydney Australia.

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

Average tenure of the ASX management team in years:

3.1
Average Tenure
  • The tenure for the ASX management team is about average.
Management Team

Dominic Stevens

TITLE
MD, CEO & Executive Director
COMPENSATION
A$4M
TENURE
3.6 yrs

Gillian Larkins

TITLE
Chief Financial Officer
COMPENSATION
A$1M
AGE
48
TENURE
1.4 yrs

Tim Hogben

TITLE
Chief Operating Officer
COMPENSATION
A$1M
TENURE
3.2 yrs

Peter Hiom

TITLE
Deputy Chief Executive Officer
COMPENSATION
A$2M
TENURE
13.7 yrs

Hamish Treleaven

TITLE
Chief Risk Officer
COMPENSATION
A$1M
TENURE
3 yrs

Dan Chesterman

TITLE
Chief Information Officer
TENURE
2.5 yrs

Josie Ashton

TITLE
Head of Investor Relations

Daniel Moran

TITLE
Group General Counsel & Company Secretary

Matthew Gibbs

TITLE
General Manager of Media & Communications

Daniel Csillag

TITLE
GM of Company Secretariat
Board of Directors Tenure

Average tenure and age of the ASX board of directors in years:

6.7
Average Tenure
61.5
Average Age
  • The tenure for the ASX board of directors is about average.
Board of Directors

Rick Holliday-Smith

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$571K
AGE
69
TENURE
8 yrs

Dominic Stevens

TITLE
MD, CEO & Executive Director
COMPENSATION
A$4M
TENURE
6.3 yrs

Peter Marriott

TITLE
Independent Non-Executive Director
COMPENSATION
A$301K
AGE
62
TENURE
10.7 yrs

Heather Ridout

TITLE
Independent Non Executive Director
COMPENSATION
A$276K
AGE
65
TENURE
7.6 yrs

Peter Warne

TITLE
Independent Non-Executive Director
COMPENSATION
A$276K
AGE
63
TENURE
13.7 yrs

Ken Henry

TITLE
Independent Non Executive Director
COMPENSATION
A$256K
AGE
61
TENURE
7.1 yrs

Damian Roche

TITLE
Independent Non-Executive Director
COMPENSATION
A$291K
TENURE
5.6 yrs

Yasmin Allen

TITLE
Independent Non-Executive Director
COMPENSATION
A$256K
AGE
55
TENURE
5.1 yrs

Melinda Conrad

TITLE
Independent Non-Executive Director
COMPENSATION
A$256K
AGE
50
TENURE
3.6 yrs

Peter Nash

TITLE
Independent Non-Executive Director
COMPENSATION
A$7K
AGE
56
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by ASX individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Feb 20 Buy Robert Woods Individual 19. Feb 20 19. Feb 20 3,000 €50.68 €152,033
18. Feb 20 Buy Peter Nash Individual 17. Feb 20 17. Feb 20 1,000 €50.81 €50,810
09. Dec 19 Sell UniSuper Limited Company 22. Nov 18 16. Oct 19 -828,034 €40.53 €-33,563,779
09. Dec 19 Buy UniSuper Limited Company 22. Nov 18 16. Oct 19 828,034 €40.53 €33,563,469
09. Dec 19 Buy UniSuper Limited Company 18. Sep 18 04. Dec 19 2,210,453 €41.42 €91,555,320
28. Aug 19 Buy Peter Nash Individual 26. Aug 19 26. Aug 19 1,000 €51.43 €51,435
X
Management checks
We assess ASX'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. ASX has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


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

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

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

News

Simply Wall St News

Company Info

Description

ASX Limited operates as a multi-asset class and integrated exchange company in Australia and internationally. The company offers securities and derivatives exchange, and related services; central counterparty clearing services; and technical and information services. It is also involved in the registry, depository, settlement, and delivery-versus-payment clearing of financial products. The company was founded in 1987 and is based in Sydney, Australia.

Details
Name: ASX Limited
AUX
Exchange: DB
Founded: 1987
A$7,767,217,166
193,590,281
Website: http://www.asx.com.au
Address: ASX Limited
Exchange Centre,
20 Bridge Street,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX ASX Ordinary Shares Australian Securities Exchange AU AUD 14. Oct 1998
OTCPK ASXF.F Ordinary Shares Pink Sheets LLC US USD 14. Oct 1998
DB AUX Ordinary Shares Deutsche Boerse AG DE EUR 14. Oct 1998
CHIA ASX Ordinary Shares Chi-X Australia AU AUD 14. Oct 1998
OTCPK ASXF.Y ADR Pink Sheets LLC US USD 11. Nov 2008
Number of employees
Current staff
Staff numbers
701
ASX employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 23:00
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/12
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


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

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