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Perpetual

DB:PVQ
Snowflake Description

Flawless balance sheet and good value.

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

Perpetual Limited offers a range of financial products and services in Australia. The last earnings update was 43 days ago. More info.


Add to Portfolio Compare Print
  • Perpetual is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Perpetual has significant price volatility in the past 3 months.
PVQ Share Price and Events
7 Day Returns
11.1%
DB:PVQ
-6.8%
DE Capital Markets
-2.7%
DE Market
1 Year Returns
-43.8%
DB:PVQ
-11.8%
DE Capital Markets
-20.4%
DE Market
PVQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Perpetual (PVQ) 11.1% -38.1% -45.3% -43.8% -60.9% -65.2%
DE Capital Markets -6.8% -21.9% -18% -11.8% -29% -57.8%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • PVQ underperformed the Capital Markets industry which returned -11.8% over the past year.
  • PVQ underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
PVQ
Industry
5yr Volatility vs Market

Value

 Is Perpetual 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 Perpetual 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 Perpetual.

DB:PVQ 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$14.38 * 16.4%
A$2.36
Book Value of Equity per Share Weighted future Book Value estimates from 7 analysts. A$14.38
Discount Rate (Cost of Equity) See below 4.4%
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:PVQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.747 (1 + (1- 30%) (15.26%))
0.884
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.884 * 5.44%)
4.42%

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

The calculations below outline how an intrinsic value for Perpetual 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:PVQ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.4% – 4.42%) * A$14.38)
A$1.72
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= A$1.72 / (4.42% - -0.39%)
A$35.77
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= A$14.38 + A$35.77
A$50.15
DB:PVQ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PVQ represents 0.55467x of ASX:PPT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.55467x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 50.15 x 0.55467
€27.82
Value per share (EUR) From above. €27.82
Current discount Discount to share price of €14.00
= -1 x (€14.00 - €27.82) / €27.82
49.7%

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

Current Discount
Amount off the current price Perpetual is available for.
Intrinsic value
50%
Share price is €14 vs Future cash flow value of €27.82
Current Discount Checks
For Perpetual to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Perpetual's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Perpetual's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Perpetual's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Perpetual's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PVQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$2.32
ASX:PPT Share Price ** ASX (2020-04-02) in AUD A$25.24
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 22.18x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

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

** Primary Listing of Perpetual.

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

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

= 25.24 ÷ 2.32

10.9x

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

  • Perpetual is good value based on earnings compared to the DE Capital Markets industry average.
  • Perpetual is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Perpetual's expected growth come at a high price?
Raw Data
DB:PVQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
9%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.9x ÷ 9%

1.21x

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

  • Perpetual is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Perpetual's assets?
Raw Data
DB:PVQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$14.24
ASX:PPT Share Price * ASX (2020-04-02) in AUD A$25.24
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.55x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:PVQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 25.24 ÷ 14.24

1.77x

* Primary Listing of Perpetual.

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

  • Perpetual is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Perpetual'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. Perpetual has a total score of 4/6, 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 Perpetual 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
9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Perpetual expected to grow at an attractive rate?
  • Perpetual's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Perpetual's earnings growth is positive but not above the Germany market average.
  • Perpetual's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PVQ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PVQ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 9%
DB:PVQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4.4%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 0.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:PVQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:PVQ Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-06-30 590 127 2
2022-06-30 558 147 111 7
2021-06-30 533 136 100 9
2020-06-30 511 121 90 8
2020-04-02
DB:PVQ Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 519 152 107
2019-09-30 519 142 112
2019-06-30 519 133 116
2019-03-31 522 146 124
2018-12-31 525 159 132
2018-09-30 532 152 136
2018-06-30 539 144 140
2018-03-31 537 145 140
2017-12-31 535 147 139
2017-09-30 528 153 138
2017-06-30 521 158 137
2017-03-31 520 154 135

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Perpetual's earnings are expected to grow by 9% yearly, however this is not considered high growth (20% yearly).
  • Perpetual's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PVQ 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 11 Analyst Estimates (S&P Global) See Below

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

DB:PVQ Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-06-30 3.40 3.40 3.40 1.00
2022-06-30 2.33 2.92 1.79 6.00
2021-06-30 2.11 2.53 1.51 8.00
2020-06-30 1.86 2.14 1.50 5.00
2020-04-02
DB:PVQ Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 2.32
2019-09-30 2.41
2019-06-30 2.51
2019-03-31 2.69
2018-12-31 2.87
2018-09-30 2.96
2018-06-30 3.05
2018-03-31 3.04
2017-12-31 3.04
2017-09-30 3.02
2017-06-30 3.00
2017-03-31 2.96

*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.
  • Perpetual is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Perpetual'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.
Perpetual has a total score of 2/6, 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 Perpetual 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 Perpetual'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.
  • Perpetual's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Perpetual's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Perpetual's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Perpetual'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 Perpetual Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PVQ Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 519.12 107.30 129.98
2019-09-30 519.26 111.61 131.34
2019-06-30 519.41 115.93 132.69
2019-03-31 522.05 124.15 126.96
2018-12-31 524.70 132.38 121.23
2018-09-30 531.77 136.30 119.20
2018-06-30 538.85 140.23 117.17
2018-03-31 536.76 139.77 114.64
2017-12-31 534.68 139.31 112.12
2017-09-30 527.78 138.30 110.96
2017-06-30 520.88 137.29 109.79
2017-03-31 520.04 135.47 111.30
2016-12-31 519.19 133.65 112.80
2016-09-30 513.46 132.83 112.83
2016-06-30 507.73 132.01 112.86
2016-03-31 504.24 130.16 113.91
2015-12-31 500.76 128.31 114.97
2015-09-30 505.82 125.40 118.96
2015-06-30 510.88 122.48 122.95
2014-12-31 500.19 103.84 126.95
2014-09-30 477.89 91.21 126.73
2014-06-30 455.59 78.58 126.52
2013-12-31 416.45 66.88 110.71
2013-09-30 406.96 62.49 105.17
2013-06-30 397.48 58.09 99.62

*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.
  • Perpetual has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Perpetual used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Perpetual's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Perpetual'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.
Perpetual has a total score of 1/6, 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 Perpetual'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 Perpetual's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Perpetual is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Perpetual's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Perpetual'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 7.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Perpetual Company Filings, last reported 3 months ago.

DB:PVQ Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 663.94 87.00 261.72
2019-09-30 663.94 87.00 261.72
2019-06-30 662.24 87.00 299.59
2019-03-31 662.24 87.00 299.59
2018-12-31 660.68 87.00 279.76
2018-09-30 660.68 87.00 279.76
2018-06-30 661.13 87.00 320.24
2018-03-31 661.13 87.00 320.24
2017-12-31 647.06 87.00 270.15
2017-09-30 647.06 87.00 270.15
2017-06-30 634.38 87.00 323.49
2017-03-31 634.38 87.00 323.49
2016-12-31 618.30 87.00 256.51
2016-09-30 618.30 87.00 256.51
2016-06-30 605.52 87.00 278.23
2016-03-31 605.52 87.00 278.23
2015-12-31 595.37 87.00 240.21
2015-09-30 595.37 87.00 240.21
2015-06-30 583.69 87.00 289.36
2014-12-31 567.29 122.65 265.79
2014-09-30 567.29 122.65 265.79
2014-06-30 556.40 124.31 282.59
2013-12-31 534.18 165.70 203.24
2013-09-30 534.18 165.70 203.24
2013-06-30 323.74 124.07 217.16
  • Perpetual's level of debt (13.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (21.6% vs 13.1% today).
  • Debt is well covered by operating cash flow (174.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42.6x coverage).
X
Financial health checks
We assess Perpetual'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. Perpetual 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 Perpetual'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
8.32%
Current annual income from Perpetual dividends. Estimated to be 8.36% next year.
If you bought €2,000 of Perpetual shares you are expected to receive €166 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?
  • Perpetual's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.65%).
  • Perpetual's dividend is above the markets top 25% of dividend payers in Germany (4.86%).
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:PVQ 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 3.3%
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 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:PVQ Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2023-06-30 3.25 1.00
2022-06-30 2.30 10.00
2021-06-30 2.06 12.00
2020-06-30 1.91 12.00
2020-04-02
DB:PVQ Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-19 2.100 7.037
2019-08-21 2.500 6.447
2019-02-20 2.650 6.612
2018-08-29 2.800 7.837
2018-02-21 2.700 6.234
2017-08-23 2.700 5.332
2017-02-22 2.600 4.939
2016-08-24 2.600 5.521
2016-02-24 2.500 5.837
2015-08-26 2.500 5.897
2014-08-27 1.900 3.894
2014-02-26 1.600 3.333
2013-08-28 1.300 2.942
2012-08-30 0.800 2.278
2012-02-22 1.000 4.172
2011-08-26 1.800 8.430
2011-02-23 2.000 7.495
2010-08-24 2.100 6.362
2010-02-25 1.650 5.140
2009-08-19 1.000 2.735

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Perpetual's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (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 Perpetual'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 Perpetual afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Perpetual has a total score of 3/6, 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 Perpetual'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
Rob Adams
COMPENSATION A$1,850,585
AGE 52
TENURE AS CEO 1.6 years
CEO Bio

Mr. Robert William Adams, also known as Rob, has been Managing Director and Chief Executive Officer at Perpetual Ltd. since September 24, 2018 and also Director since September 26, 2018. Mr. Adams serves as Head of PAN-ASIA and was an Executive Chairman of Asia Pacific at Janus Henderson Group plc since 2012. Mr. Adams serves as the Head of Sydney Operations at AMP Capital Investors Limited and was previously the Executive Chairman. Mr. Adams serves as the Managing Director of Henderson Global Investors (Australia) Limited. Prior to joining Henderson in 2012, he was the Chief Executive Officer of Challenger Funds Management Limited. Mr. Adams was the Joint Chief Executive of Funds Management at Challenger Limited until February 25, 2011. He was the Deputy Chief Executive Officer of Wealth Management and Executive Director of Wealth Management at Challenger Financial Service Group. Mr. Adams joined Challenger in July 2003. He served in a variety of senior roles including Chief Executive Officer at First State Investments (UK) Limited from 2000 to 2003. Before that, he was General Manager, Distribution and Marketing, for Colonial First State Investments Australia between 1992 and 2000. Mr. Adams has more than 25 years experience in fund management businesses, both in Australia and the UK. Mr. Adams has vast experience in the funds management and broader financial services industry in Australia and overseas. He serves as a Director of Five Oceans Asset Management Pty Limited. He serves as a Director of Henderson Global Investors (Singapore) Limited. Mr. Adams has a Bachelor of Business from the University of Technology, Sydney.

CEO Compensation
  • Insufficient data for Rob to compare compensation growth.
  • Rob's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Perpetual management team in years:

1.5
Average Tenure
  • The average tenure for the Perpetual management team is less than 2 years, this suggests a new team.
Management Team

Rob Adams

TITLE
MD, CEO & Director
COMPENSATION
A$2M
AGE
52
TENURE
1.6 yrs

Chris Green

TITLE
CFO & Interim Company Secretary
COMPENSATION
A$1M
TENURE
1.5 yrs

Mark Smith

TITLE
Group Executive of Perpetual Private
COMPENSATION
A$1M
TENURE
7.4 yrs

Richard McCarthy

TITLE
Group Executive of Perpetual Corporate Trust
COMPENSATION
A$667K
TENURE
1.5 yrs

David Lane

TITLE
Group Executive of Mergers & Acquisitions
COMPENSATION
A$881K
TENURE
3 yrs

Sam Mosse

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

Andrew Wallace

TITLE
Acting Chief Operating Officer
TENURE
0.7 yrs

Andrew Ehlich

TITLE
General Manager of Investor Relations & Corporate Finance

Kristen Allen

TITLE
General Manager of Corporate Communications

Michael Korber

TITLE
Head of Credit & Fixed Income
Board of Directors Tenure

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

2.9
Average Tenure
61
Average Age
  • The average tenure for the Perpetual board of directors is less than 3 years, this suggests a new board.
Board of Directors

Tony D'Aloisio

TITLE
Independent Chairman
COMPENSATION
A$300K
AGE
70
TENURE
2.9 yrs

Rob Adams

TITLE
MD, CEO & Director
COMPENSATION
A$2M
AGE
52
TENURE
1.6 yrs

P. Ueland

TITLE
Independent Director
COMPENSATION
A$185K
AGE
61
TENURE
7.6 yrs

Ian Hammond

TITLE
Independent Director
COMPENSATION
A$195K
AGE
61
TENURE
5.1 yrs

Nancy Fox

TITLE
Independent Director
COMPENSATION
A$184K
AGE
62
TENURE
4.6 yrs

Greg Cooper

TITLE
Independent Non-Executive Director
TENURE
0.6 yrs

Fiona Trafford-Walker

TITLE
Independent Director
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Jan 20 Sell BlackRock, Inc. Company 19. Mar 19 09. Jan 20 -351,419 €27.10 €-75,945
12. Jan 20 Buy BlackRock, Inc. Company 18. Mar 19 09. Jan 20 614,245 €27.44 €12,052
13. Dec 19 Sell UBS Asset Management Company 04. Dec 19 11. Dec 19 -162,507 €23.96 €-3,894,334
13. Dec 19 Buy UBS Asset Management Company 04. Dec 19 11. Dec 19 135,070 €24.14 €3,245,984
18. Nov 19 Sell UBS Asset Management Company 14. Nov 19 14. Nov 19 -18,665 €24.09 €-449,583
18. Nov 19 Buy UBS Asset Management Company 14. Nov 19 14. Nov 19 40,540 €24.16 €978,023
17. Nov 19 Sell UBS Asset Management Company 17. Oct 19 13. Nov 19 -513,153 €22.88 €-11,743,414
17. Nov 19 Buy UBS Asset Management Company 17. Oct 19 13. Nov 19 607,330 €22.79 €13,839,180
18. Oct 19 Sell UBS Asset Management Company 15. Oct 19 16. Oct 19 -63,656 €21.02 €-1,338,213
22. Oct 19 Buy Gregory John Cooper Individual 17. Oct 19 17. Oct 19 1,000 €21.75 €21,752
18. Oct 19 Buy UBS Asset Management Company 15. Oct 19 16. Oct 19 74,941 €21.06 €1,577,912
16. Oct 19 Sell UBS Asset Management Company 14. Oct 19 14. Oct 19 -82,012 €21.06 €-1,726,779
16. Oct 19 Buy UBS Asset Management Company 14. Oct 19 14. Oct 19 51,661 €21.17 €1,093,455
15. Oct 19 Buy UBS Asset Management Company 04. Oct 19 11. Oct 19 185,774 €21.84 €4,058,071
04. Oct 19 Sell UBS Asset Management Company 24. Sep 19 02. Oct 19 -329,085 €23.38 €-7,618,917
04. Oct 19 Buy UBS Asset Management Company 24. Sep 19 02. Oct 19 269,966 €23.12 €6,242,914
07. Oct 19 Sell UBS Asset Management Company 03. Oct 19 03. Oct 19 -47,780 €22.07 €-1,054,688
07. Oct 19 Buy UBS Asset Management Company 03. Oct 19 03. Oct 19 57,000 €22.07 €1,258,198
25. Sep 19 Sell UBS Asset Management Company 09. Sep 19 23. Sep 19 -441,321 €22.65 €-9,996,981
25. Sep 19 Buy UBS Asset Management Company 09. Sep 19 23. Sep 19 430,613 €22.62 €9,737,287
10. Sep 19 Sell UBS Asset Management Company 03. Sep 19 06. Sep 19 -147,248 €21.96 €-3,233,543
10. Sep 19 Buy UBS Asset Management Company 03. Sep 19 06. Sep 19 202,190 €21.91 €4,430,919
11. Sep 19 Buy Ian Hammond Individual 10. Sep 19 10. Sep 19 2,800 €22.35 €62,592
02. Sep 19 Sell UBS Asset Management Company 16. Aug 19 29. Aug 19 -506,868 €21.49 €-10,890,955
02. Sep 19 Buy UBS Asset Management Company 16. Aug 19 29. Aug 19 500,748 €21.50 €10,764,117
29. Aug 19 Sell The Vanguard Group, Inc. Company 06. May 19 22. Aug 19 -19,382 €26.83 €-511,850
29. Aug 19 Buy The Vanguard Group, Inc. Company 30. Apr 19 27. Aug 19 117,634 €26.85 €3,139,106
19. Aug 19 Sell UBS Asset Management Company 08. Aug 19 15. Aug 19 -233,907 €22.98 €-5,375,603
19. Aug 19 Buy UBS Asset Management Company 08. Aug 19 15. Aug 19 230,805 €22.31 €5,150,191
09. Aug 19 Sell UBS Asset Management Company 31. Jul 19 07. Aug 19 -239,230 €22.70 €-5,430,872
09. Aug 19 Buy UBS Asset Management Company 31. Jul 19 07. Aug 19 287,643 €23.68 €6,563,680
01. Aug 19 Sell UBS Asset Management Company 29. Jul 19 30. Jul 19 -86,479 €24.08 €-2,082,635
01. Aug 19 Buy UBS Asset Management Company 29. Jul 19 30. Jul 19 82,821 €24.10 €1,995,671
X
Management checks
We assess Perpetual'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. Perpetual 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

Perpetual Limited offers a range of financial products and services in Australia. The company provides funds management, portfolio management, financial planning, trustee, responsible entity and compliance services, executor services, investment administration and custody services, and mortgage processing services. It offers investment capabilities across a range of asset classes, including Australian and global equities, mortgages, cash and fixed interest, and Australian listed property. The company also provides specialist direct-to-client financial services for high net worth individuals that include fiduciary services, such as trust advice and services, custodial solutions, estate planning, estate administration, and executorial services; independent financial advice services with specialist and ‘do-it-yourself’ superannuation offerings; and philanthropic services. In addition, it offers corporate trustee and transaction support services, including trustee services for mortgage backed and other securitization programs for major banks and non-bank financial institutions; mortgage services, including mortgage preparations, variations and discharges; post settlement servicing; regulatory compliance services for fund managers; custody, unit registry, and accounting services for property and mortgage funds; and trusteeships for corporate debt issues and infrastructure projects. The company was founded in 1884 and is based in Sydney, Australia.

Details
Name: Perpetual Limited
PVQ
Exchange: DB
Founded: 1884
A$659,210,136
46,740,501
Website: http://www.perpetual.com.au
Address: Perpetual Limited
Angel Place,
Level 18,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX PPT Ordinary Shares Australian Securities Exchange AU AUD 02. Jan 1992
OTCPK PRPL.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB PVQ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
CHIA PPT Ordinary Shares Chi-X Australia AU AUD 02. Jan 1992
Number of employees
Current staff
Staff numbers
960
Perpetual employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 22:46
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/04/02
Last earnings filing: 2020/02/19
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.