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Ladenburg Thalmann Financial Services

DB:LT6
Snowflake Description

Adequate balance sheet not a dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LT6
DB
$519M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Ladenburg Thalmann Financial Services Inc. The last earnings update was 98 days ago. More info.


Add to Portfolio Compare Print
LT6 Share Price and Events
7 Day Returns
0%
DB:LT6
4.2%
DE Capital Markets
1%
DE Market
1 Year Returns
24.9%
DB:LT6
37%
DE Capital Markets
16.7%
DE Market
LT6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ladenburg Thalmann Financial Services (LT6) 0% 2.6% 1.3% 24.9% 54.9% -
DE Capital Markets 4.2% 15.7% 26% 37% -5.7% -29.8%
DE Market 1% 1.1% 3.3% 16.7% 6.8% 7.7%
1 Year Return vs Industry and Market
  • LT6 underperformed the Capital Markets industry which returned 37% over the past year.
  • LT6 outperformed the Market in Germany which returned 16.7% over the past year.

Value

 Is Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services.

DB:LT6 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
= $1.83 * 4.7%
$0.09
Book Value of Equity per Share Median Book Value from the past 5 years. $1.83
Discount Rate (Cost of Equity) See below 5.7%
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:LT6
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 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.769 (1 + (1- 21%) (67.56%))
1.12
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.12 * 5.44%)
5.7%

Discounted Cash Flow Calculation for DB:LT6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Ladenburg Thalmann Financial Services 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:LT6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.7% – 5.7%) * $1.83)
$-0.02
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.02 / (5.7% - -0.39%)
$-0.30
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $1.83 + $-0.30
$1.53
DB:LT6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:LT6 represents 0.90544x of AMEX:LTS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90544x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 1.53 x 0.90544
€1.38
Value per share (EUR) From above. €1.38
Current discount Discount to share price of €3.16
= -1 x (€3.16 - €1.38) / €1.38
-128.2%

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

  • The current share price of Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ladenburg Thalmann Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:LT6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-0.02
AMEX:LTS Share Price ** AMEX (2020-02-13) in USD $3.49
Germany Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 29.11x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 21.15x

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

** Primary Listing of Ladenburg Thalmann Financial Services.

DB:LT6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:LTS Share Price ÷ EPS (both in USD)

= 3.49 ÷ -0.02

-202.82x

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

  • Ladenburg Thalmann Financial Services is loss making, we can't compare its value to the DE Capital Markets industry average.
  • Ladenburg Thalmann Financial Services is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Ladenburg Thalmann Financial Services's expected growth come at a high price?
Raw Data
DB:LT6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -202.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 2.83x
Germany Market PEG Ratio Median Figure of 262 Publicly-Listed Companies 1.5x

*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 Ladenburg Thalmann Financial Services, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ladenburg Thalmann Financial Services's assets?
Raw Data
DB:LT6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $1.67
AMEX:LTS Share Price * AMEX (2020-02-13) in USD $3.49
Germany Capital Markets Industry PB Ratio Median Figure of 31 Publicly-Listed Capital Markets Companies 1.81x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.88x
DB:LT6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:LTS Share Price ÷ Book Value per Share (both in USD)

= 3.49 ÷ 1.67

2.09x

* Primary Listing of Ladenburg Thalmann Financial Services.

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

  • Ladenburg Thalmann Financial Services is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Ladenburg Thalmann Financial Services'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. Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ladenburg Thalmann Financial Services has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
54.1%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ladenburg Thalmann Financial Services expected to grow at an attractive rate?
  • Unable to compare Ladenburg Thalmann Financial Services's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Ladenburg Thalmann Financial Services's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Ladenburg Thalmann Financial Services's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:LT6 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 54.1%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*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:LT6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:LT6 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:LT6 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 1,408 44 -3
2019-06-30 1,386 54 -4
2019-03-31 1,381 58 -2
2018-12-31 1,378 63 0
2018-09-30 1,367 61 -3
2018-06-30 1,343 46 -9
2018-03-31 1,301 12 -16
2017-12-31 1,263 16 -25
2017-09-30 1,216 25 -30
2017-06-30 1,168 12 -41
2017-03-31 1,125 12 -59
2016-12-31 1,100 14 -53

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Ladenburg Thalmann Financial Services is high growth as no earnings estimate data is available.
  • Unable to determine if Ladenburg Thalmann Financial Services is high growth as no revenue estimate data is available.
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:LT6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Ladenburg Thalmann Financial Services Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LT6 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:LT6 Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -0.02
2019-06-30 -0.03
2019-03-31 -0.01
2018-12-31 0.00
2018-09-30 -0.02
2018-06-30 -0.05
2018-03-31 -0.08
2017-12-31 -0.13
2017-09-30 -0.16
2017-06-30 -0.22
2017-03-31 -0.32
2016-12-31 -0.29

*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.
  • Unable to establish if Ladenburg Thalmann Financial Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Ladenburg Thalmann Financial Services's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Ladenburg Thalmann Financial Services's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. Ladenburg Thalmann Financial Services's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Ladenburg Thalmann Financial Services'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.
Ladenburg Thalmann Financial Services has a total score of 0/6, 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 Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services'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.
  • Ladenburg Thalmann Financial Services does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Ladenburg Thalmann Financial Services's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ladenburg Thalmann Financial Services's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Ladenburg Thalmann Financial Services'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 Ladenburg Thalmann Financial Services Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LT6 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,408.28 -2.66 245.82
2019-06-30 1,385.63 -4.39 236.18
2019-03-31 1,381.01 -2.39 232.76
2018-12-31 1,378.12 -0.27 231.83
2018-09-30 1,367.03 -3.13 224.25
2018-06-30 1,343.07 -8.81 224.36
2018-03-31 1,300.71 -16.23 215.01
2017-12-31 1,263.00 -24.79 205.83
2017-09-30 1,216.30 -30.27 201.08
2017-06-30 1,167.78 -40.81 190.58
2017-03-31 1,125.37 -59.36 184.98
2016-12-31 1,100.14 -52.71 181.70
2016-09-30 1,094.97 -54.95 180.69
2016-06-30 1,102.74 -49.87 179.89
2016-03-31 1,129.61 -34.32 183.37
2015-12-31 1,142.40 -39.26 182.50
2015-09-30 1,112.20 -21.78 178.21
2015-06-30 1,053.27 -3.61 173.14
2015-03-31 976.95 5.25 158.27
2014-12-31 909.50 16.19 148.85
2014-09-30 856.08 7.78 134.93
2014-06-30 832.25 -0.66 127.20
2014-03-31 802.09 -6.44 122.43
2013-12-31 772.68 -7.37 117.56
2013-09-30 728.46 -9.25 110.94
2013-06-30 683.94 -14.81 105.09
2013-03-31 652.14 -13.24 104.07

*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.
  • Ladenburg Thalmann Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services 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 Ladenburg Thalmann Financial Services'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.
Ladenburg Thalmann Financial Services 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.

Health

 How is Ladenburg Thalmann Financial Services'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 Ladenburg Thalmann Financial Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ladenburg Thalmann Financial Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ladenburg Thalmann Financial Services's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ladenburg Thalmann Financial Services'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 1.4x 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 Ladenburg Thalmann Financial Services Company Filings, last reported 4 months ago.

DB:LT6 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 248.77 315.90 255.63
2019-06-30 246.69 316.42 244.60
2019-03-31 254.02 261.24 175.81
2018-12-31 253.18 254.07 193.62
2018-09-30 386.35 185.20 268.29
2018-06-30 390.50 136.17 211.40
2018-03-31 390.25 99.00 149.52
2017-12-31 370.39 96.85 175.98
2017-09-30 358.83 28.18 104.89
2017-06-30 357.12 30.57 93.12
2017-03-31 352.16 24.56 78.96
2016-12-31 362.50 26.42 102.47
2016-09-30 351.30 48.36 109.64
2016-06-30 350.48 50.68 100.50
2016-03-31 370.23 52.33 100.31
2015-12-31 376.03 53.92 122.76
2015-09-30 385.07 59.18 118.67
2015-06-30 397.48 60.91 129.17
2015-03-31 398.53 62.63 127.76
2014-12-31 336.47 56.03 109.00
2014-09-30 314.87 62.13 100.81
2014-06-30 242.84 55.22 88.23
2014-03-31 210.01 54.86 55.25
2013-12-31 193.41 64.65 55.12
2013-09-30 183.74 75.98 54.71
2013-06-30 175.33 86.45 50.82
2013-03-31 52.99 198.88 41.36
  • Ladenburg Thalmann Financial Services's level of debt (127%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (19.7% vs 127% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Ladenburg Thalmann Financial Services has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Ladenburg Thalmann Financial Services has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -24.4% per year.
X
Financial health checks
We assess Ladenburg Thalmann Financial Services'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. Ladenburg Thalmann Financial Services has a total score of 4/6, 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 Ladenburg Thalmann Financial Services'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
1.43%
Current annual income from Ladenburg Thalmann Financial Services dividends.
If you bought €2,000 of Ladenburg Thalmann Financial Services shares you are expected to receive €29 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?
  • Ladenburg Thalmann Financial Services's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.32%).
  • Ladenburg Thalmann Financial Services's dividend is below the markets top 25% of dividend payers in Germany (3.6%).
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:LT6 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 0 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 1.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.3%
Germany Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

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

DB:LT6 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
DB:LT6 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-12-06 0.050 1.438
2019-08-27 0.050 2.048
2019-05-29 0.050 1.691
2019-03-05 0.050 1.554
2018-12-04 0.050 1.794
2018-08-24 0.050 1.797
2018-06-01 0.040 1.147
2018-02-27 0.040 1.166
2017-11-21 0.040 1.260
2017-08-09 0.040 1.450

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

  • Whilst dividend payments have been stable, Ladenburg Thalmann Financial Services has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Ladenburg Thalmann Financial Services only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Ladenburg Thalmann Financial Services'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 Ladenburg Thalmann Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ladenburg Thalmann Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ladenburg Thalmann Financial Services 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.

Management

 What is the CEO of Ladenburg Thalmann Financial Services'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
Richard Lampen
COMPENSATION $3,115,271
AGE 65
TENURE AS CEO 13.4 years
CEO Bio

Mr. Richard J. Lampen, also known as Dick, has been the Chief Executive Officer and President of Ladenburg Thalmann Financial Services Inc. since September 6, 2006 and its Chairman of the Board since September 21, 2018. He served as CEO and President of Castle Brands Inc. since October 2008 until October 9, 2019. Mr. Lampen has been an Executive Vice President of Vector Group Ltd. since July 1996. He was responsible for managing Multi Solutions administrative affairs, including Multi Solutions reporting obligations pursuant to the requirements of the Vice Chair Exchange Act. He served as the President of Multi Soft Inc., since May 2011. He served as the Chairman of CDSI Holdings Inc. until November 4, 2011 and served as its Chief Executive Officer and President from November 5, 1998 to November 4, 2011. Mr. Lampen has experience in the financial services and legal fields. His pertinent experience, qualifications, attributes and skills include managerial experience and the knowledge and experience has attained through his service as an executive officer and a director of publicly-traded corporations. Mr. Lampen served as an Executive Vice President and General Counsel of New Valley Corp., from October 1995 to December 2005. He served as an Executive Vice President of VGR Holding, (a subsidiary of Vector Group Ltd.), since July 1996. From May 1992 to September 1995, he was a Partner at Steel Hector & Davis, a law firm located in Miami, Florida and also served as its Co-Chairman of the Corporate Department. Mr. Lampen was an Investment Banker at Salomon Brothers Inc, where he was Managing Director of the Leveraged Finance Group from January 1991 to April 1992. He joined Salomon Brothers Inc. in 1986. He served as the Chair of the Board at Financial Services Institute, Inc. from January 2017 untill 2018 and served as its Vice Chair until January 2017. Mr. Lampen had been a Director of Ladenburg Thalmann Financial Services Inc. since January 2002. He served as a Director of Castle Brands Inc. since October 2008 until October 9, 2019. He serves as a Director of Douglas Elliman Realty, LLC and Financial Services Institute, Inc. He serves as a Director of a number of other companies, including U.S. Can Corp., The International Bank of Miami N.A., Spec's Music Inc. and PANACO Inc., as well as a court-appointed independent Director of Trump Plaza Funding Inc. He served as a Director of Multi Solutions II, Inc. since May 2011 until July 2012. He served as a Director of CDSI Holdings Inc. since Jan 1997 and SG Blocks, Inc. from January 1997 to January 30, 2014. He served as the Chairman and President of Multi Solutions II, Inc., since May 2011 until July 2012. Mr. Lampen served as a director of SG Blocks Inc. until January 2014. He served as the Chairman of Multi Soft Inc. since May 2011. He served as a Director of New Valley Corp. since July 1996. He is a member of the Florida Bar and has served as Chairman of its Securities Law Committee. Mr. Lampen received a Bachelor of Arts degree from Johns Hopkins University in 1975 and Juris Doctorate Degree in 1978 from Columbia Law School. Previously, he was an investment banker at Salomon Brothers Inc, where he was a Managing Director in the Leveraged Finance Group and a partner and co-chairman of the Corporate Department at the Steel Hector & Davis law firm.

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

Average tenure and age of the Ladenburg Thalmann Financial Services management team in years:

12.5
Average Tenure
56.5
Average Age
  • The average tenure for the Ladenburg Thalmann Financial Services management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Richard Lampen

TITLE
Chairman of the Board
COMPENSATION
$3M
AGE
65
TENURE
13.4 yrs

Brett Kaufman

TITLE
Senior VP & CFO
COMPENSATION
$1M
AGE
47
TENURE
11.8 yrs

Adam Malamed

TITLE
Executive VP
COMPENSATION
$3M
AGE
47
TENURE
8.1 yrs

Mark Zeitchick

TITLE
Executive VP & Director
COMPENSATION
$4M
AGE
53
TENURE
20.5 yrs

Joseph Giovanniello

TITLE
Senior VP of Corporate & Regulatory Affairs and Secretary
COMPENSATION
$1M
AGE
60
TENURE
18.8 yrs

Diane Chillemi

TITLE
Vice President of Finance & Accounting
COMPENSATION
$250K
AGE
60

Doreen Griffith

TITLE
Senior VP & Chief Information Officer
TENURE
3.1 yrs

Emily Claffey

TITLE
Investor Contact

Brian Heller

TITLE
Senior Vice President of Business & Legal Affairs
TENURE
13.1 yrs

George Oka

TITLE
Senior VP & Head of Corporate Development
TENURE
2.7 yrs
Board of Directors Tenure

Average tenure and age of the Ladenburg Thalmann Financial Services board of directors in years:

11
Average Tenure
70
Average Age
  • The average tenure for the Ladenburg Thalmann Financial Services board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Richard Lampen

TITLE
Chairman of the Board
COMPENSATION
$3M
AGE
65
TENURE
1.4 yrs

Howard Lorber

TITLE
Vice Chairman of the Board
COMPENSATION
$2M
AGE
70
TENURE
13.6 yrs

Adam Malamed

TITLE
Executive VP
COMPENSATION
$3M
AGE
47
TENURE
1.4 yrs

Mark Zeitchick

TITLE
Executive VP & Director
COMPENSATION
$4M
AGE
53
TENURE
20.5 yrs

Bob Bruderman

TITLE
Chairman of Premier

Hank Beinstein

TITLE
Independent Director
COMPENSATION
$190K
AGE
76
TENURE
18.8 yrs

Richard Krasno

TITLE
Lead Independent Director
COMPENSATION
$330K
AGE
77
TENURE
5.3 yrs

Jacqueline Simkin

TITLE
Independent Director
COMPENSATION
$190K
AGE
76
TENURE
8.4 yrs

Brian Genson

TITLE
Independent Director
COMPENSATION
$165K
AGE
70
TENURE
15.3 yrs

Bruce Mendelsohn

TITLE
Member of the Advisory Board
COMPENSATION
$224K
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 (€)
04. Jun 19 Buy Richard Lampen Individual 03. Jun 19 03. Jun 19 10,000 €2.80 €27,958
03. Jun 19 Buy Richard Lampen Individual 31. May 19 31. May 19 10,000 €2.90 €28,972
03. Jun 19 Buy Adam Malamed Individual 31. May 19 31. May 19 10,000 €2.87 €28,717
31. May 19 Buy Richard Lampen Individual 30. May 19 30. May 19 10,000 €3.02 €30,237
24. May 19 Buy Richard Lampen Individual 23. May 19 23. May 19 10,000 €2.99 €29,909
23. May 19 Buy Richard Lampen Individual 22. May 19 22. May 19 10,000 €3.01 €30,053
23. May 19 Buy Adam Malamed Individual 22. May 19 22. May 19 10,000 €3.00 €30,003
15. May 19 Buy Michael Liebowitz Individual 14. May 19 14. May 19 20,100 €2.89 €58,184
11. Apr 19 Buy Michael Liebowitz Individual 10. Apr 19 10. Apr 19 12,902 €2.87 €37,068
08. Apr 19 Buy Michael Liebowitz Individual 05. Apr 19 05. Apr 19 10,000 €2.60 €26,038
17. May 19 Buy Michael Liebowitz Individual 16. May 19 16. May 19 25,000 €2.93 €73,150
17. May 19 Buy Richard Lampen Individual 16. May 19 16. May 19 10,000 €2.97 €29,653
16. Apr 19 Buy Adam Malamed Individual 15. Apr 19 15. Apr 19 15,000 €3.07 €46,124
16. Apr 19 Buy Richard Lampen Individual 15. Apr 19 15. Apr 19 10,000 €3.04 €30,353
15. Apr 19 Buy Adam Malamed Individual 12. Apr 19 12. Apr 19 10,000 €3.06 €30,576
12. Apr 19 Buy Mark Zeitchick Individual 11. Apr 19 11. Apr 19 10,000 €3.00 €29,966
11. Apr 19 Buy Richard Lampen Individual 10. Apr 19 10. Apr 19 20,000 €2.88 €57,502
08. Apr 19 Buy Adam Malamed Individual 05. Apr 19 05. Apr 19 15,000 €2.61 €39,224
08. Apr 19 Buy Glenn Davis Individual 05. Apr 19 05. Apr 19 5,000 €2.61 €13,056
X
Management checks
We assess Ladenburg Thalmann Financial Services'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. Ladenburg Thalmann Financial Services 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

Ladenburg Thalmann Financial Services Inc. operates as a diversified financial services company in the United States. Its Independent Advisory and Brokerage Services segment offers advisory and securities brokerage services for clients, including advisor managed accounts, general securities, mutual funds, and variable and fixed annuities; brokerage support services, such as access to stock, bond, exchange-traded fund, and options execution; products comprising insurance, non-traded real estate investment trusts, and unit trusts; and research, compliance, supervision, accounting, and related services. This segment also provides asset management services; and trust administration of personal and retirement accounts, estate and financial planning, wealth management, and custody services. The company’s Ladenburg segment offers investment banking services consisting of corporate finance services, such as underwritten public, registered direct, and at-the-market offerings, as well as private investment in public equity and other private placements; and strategic and financial advisory services. This segment also provides investment research, sales and trading, and investment services, as well as administration, operation, securities transactions processing, and customer accounts services; and various asset management products and services, including asset management programs, investment consulting services, fund management, private investment management programs, retirement plan sponsor services, alternative investments, architect programs, and third-party advisory services. Its Insurance Brokerage segment delivers life insurance, fixed, and equity indexed annuities, as well as long-term care solutions to investment and insurance providers; and marketing strategies, product expertise, and back-office processing for fixed and equity-indexed annuities. Ladenburg Thalmann Financial Services Inc. was founded in 1876 and is headquartered in Miami, Florida.

Details
Name: Ladenburg Thalmann Financial Services Inc.
LT6
Exchange: DB
Founded: 1876
$478,762,299
148,738,127
Website: http://www.ladenburg.com
Address: Ladenburg Thalmann Financial Services Inc.
4400 Biscayne Boulevard,
12th Floor,
Miami,
Florida, 33137,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX LTS Common Stock NYSE MKT LLC US USD 08. May 2001
DB LT6 Common Stock Deutsche Boerse AG DE EUR 08. May 2001
AMEX LTS.PRA PFD SER A % NYSE MKT LLC US USD 22. May 2013
Number of employees
Current staff
Staff numbers
1,512
Ladenburg Thalmann Financial Services employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/14 22:11
End of day share price update: 2020/02/13 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2019/11/08
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.