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Freehold Royalties

DB:1FH
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1FH
DB
CA$308M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada and the United States. The last earnings update was 26 days ago. More info.


Add to Portfolio Compare Print
  • Freehold Royalties has significant price volatility in the past 3 months.
1FH Share Price and Events
7 Day Returns
-11.2%
DB:1FH
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-71.4%
DB:1FH
21.9%
DE Oil and Gas
-17.7%
DE Market
1FH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Freehold Royalties (1FH) -11.2% -60.7% -68.1% -71.4% -82.8% -88.1%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • 1FH underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • 1FH underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
1FH
Industry
5yr Volatility vs Market

Value

 Is Freehold Royalties 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 Freehold Royalties 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 Freehold Royalties.

DB:1FH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1FH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 26.5%) (35.97%))
1.014
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.014 * 5.44%)
5.13%

Discounted Cash Flow Calculation for DB:1FH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Freehold Royalties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:1FH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 5.13%)
2020 75.09 Analyst x7 71.42
2021 80.84 Analyst x7 73.15
2022 84.60 Est @ 4.64% 72.81
2023 87.24 Est @ 3.13% 71.43
2024 89.06 Est @ 2.08% 69.35
2025 90.24 Est @ 1.34% 66.85
2026 90.98 Est @ 0.82% 64.11
2027 91.40 Est @ 0.46% 61.26
2028 91.58 Est @ 0.2% 58.39
2029 91.60 Est @ 0.02% 55.55
Present value of next 10 years cash flows CA$664.00
DB:1FH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$91.60 × (1 + -0.39%) ÷ (5.13% – -0.39%)
CA$1,653.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,653.37 ÷ (1 + 5.13%)10
CA$1,002.65
DB:1FH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$664.00 + CA$1,002.65
CA$1,666.65
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,666.65 / 118.62
CA$14.05
DB:1FH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1FH represents 0.56028x of TSX:FRU
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.56028x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 14.05 x 0.56028
€7.87
Value per share (EUR) From above. €7.87
Current discount Discount to share price of €1.58
= -1 x (€1.58 - €7.87) / €7.87
79.9%

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

Current Discount
Amount off the current price Freehold Royalties is available for.
Intrinsic value
>50%
Share price is €1.58 vs Future cash flow value of €7.87
Current Discount Checks
For Freehold Royalties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Freehold Royalties's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Freehold Royalties'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 Freehold Royalties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Freehold Royalties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1FH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$0.04
TSX:FRU Share Price ** TSX (2020-03-30) in CAD CA$2.82
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

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

** Primary Listing of Freehold Royalties.

DB:1FH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:FRU Share Price ÷ EPS (both in CAD)

= 2.82 ÷ 0.04

64.34x

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

  • Freehold Royalties is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Freehold Royalties is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Freehold Royalties's expected growth come at a high price?
Raw Data
DB:1FH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 64.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
Not available
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*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 Freehold Royalties, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Freehold Royalties's assets?
Raw Data
DB:1FH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$5.96
TSX:FRU Share Price * TSX (2020-03-30) in CAD CA$2.82
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:1FH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:FRU Share Price ÷ Book Value per Share (both in CAD)

= 2.82 ÷ 5.96

0.47x

* Primary Listing of Freehold Royalties.

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

  • Freehold Royalties is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Freehold Royalties'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Freehold Royalties has a total score of 3/6, 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 Freehold Royalties expected to perform in the next 1 to 3 years based on estimates from 3 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
42.5%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Freehold Royalties expected to grow at an attractive rate?
  • Freehold Royalties's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Freehold Royalties's earnings growth is expected to exceed the Germany market average.
  • Freehold Royalties's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1FH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1FH Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 42.5%
DB:1FH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -10.1%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:1FH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1FH Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 175
2022-12-31 157
2021-12-31 116 101 2
2020-12-31 119 93 -2 3
2020-03-30
DB:1FH Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 141 106 5
2019-09-30 129 109 -5
2019-06-30 136 116 1
2019-03-31 141 117 3
2018-12-31 145 133 14
2018-09-30 158 130 10
2018-06-30 151 120 2
2018-03-31 149 122 10
2017-12-31 151 119 12
2017-09-30 152 123 22
2017-06-30 151 119 20
2017-03-31 145 105 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Freehold Royalties's earnings are expected to grow significantly at over 20% yearly.
  • Freehold Royalties's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:1FH 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 3 Analyst Estimates (S&P Global) See Below

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

DB:1FH Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.09 0.27 -0.19 4.00
2020-12-31 0.02 0.19 -0.21 4.00
2020-03-30
DB:1FH Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 0.04
2019-09-30 -0.04
2019-06-30 0.00
2019-03-31 0.02
2018-12-31 0.12
2018-09-30 0.09
2018-06-30 0.02
2018-03-31 0.08
2017-12-31 0.10
2017-09-30 0.19
2017-06-30 0.17
2017-03-31 0.04

*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 Freehold Royalties will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Freehold Royalties'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Freehold Royalties has a total score of 3/6, 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 Freehold Royalties 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 Freehold Royalties's growth in the last year to its industry (Oil and Gas).
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.
  • Freehold Royalties's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Freehold Royalties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Freehold Royalties's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Freehold Royalties'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 Freehold Royalties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1FH Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 140.84 5.19 15.21
2019-09-30 128.85 -5.09 14.70
2019-06-30 136.37 0.57 13.77
2019-03-31 140.99 2.53 13.80
2018-12-31 144.54 14.03 13.41
2018-09-30 157.94 10.14 14.29
2018-06-30 151.12 1.86 15.65
2018-03-31 149.19 9.55 15.79
2017-12-31 150.72 12.22 15.65
2017-09-30 151.92 21.91 15.83
2017-06-30 150.80 19.85 15.28
2017-03-31 144.67 4.52 15.12
2016-12-31 128.65 -11.16 14.94
2016-09-30 122.94 -20.22 14.24
2016-06-30 125.69 -40.46 14.43
2016-03-31 131.01 -34.29 14.53
2015-12-31 133.37 -4.08 15.10
2015-09-30 142.24 14.43 13.80
2015-06-30 157.47 54.53 13.60
2015-03-31 173.04 70.21 14.06
2014-12-31 194.18 66.45 13.86
2014-09-30 195.02 69.47 14.61
2014-06-30 194.13 70.52 14.57
2014-03-31 184.04 65.21 13.71
2013-12-31 175.20 57.85 13.66
2013-09-30 175.60 57.18 14.99
2013-06-30 166.16 50.19 15.14
2013-03-31 157.96 43.76 14.63

*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.
  • Freehold Royalties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Freehold Royalties used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Freehold Royalties has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Freehold Royalties'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 Oil and Gas 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.
Freehold Royalties 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 Freehold Royalties'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 Freehold Royalties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Freehold Royalties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Freehold Royalties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Freehold Royalties'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Freehold Royalties Company Filings, last reported 2 months ago.

DB:1FH Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 707.48 109.00 1.20
2019-09-30 719.62 116.00 2.05
2019-06-30 735.12 111.00 0.08
2019-03-31 749.87 90.00 0.93
2018-12-31 774.62 90.00 1.26
2018-09-30 796.94 91.31
2018-06-30 806.55 91.00 0.44
2018-03-31 819.08 98.00 0.92
2017-12-31 831.59 90.00 0.28
2017-09-30 856.58 48.00 0.71
2017-06-30 873.36 61.00 0.72
2017-03-31 877.25 101.00 0.83
2016-12-31 884.70 84.00 0.89
2016-09-30 896.15 100.00 0.86
2016-06-30 910.28 108.00 0.42
2016-03-31 719.62 153.00 0.33
2015-12-31 742.62 152.00 0.88
2015-09-30 767.22 155.00 0.26
2015-06-30 809.48 164.00 0.85
2015-03-31 431.99 210.00 0.77
2014-12-31 420.87 139.00 1.13
2014-09-30 429.21 133.00 0.80
2014-06-30 292.43 172.00 1.20
2014-03-31 292.53 49.00 0.48
2013-12-31 294.07 49.00 0.16
2013-09-30 299.72 49.00 0.69
2013-06-30 298.68 55.00 0.32
2013-03-31 304.30 47.00 0.23
  • Freehold Royalties's level of debt (15.4%) 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 (33.2% vs 15.4% today).
  • Debt is well covered by operating cash flow (97.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.6x coverage).
X
Financial health checks
We assess Freehold Royalties'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. Freehold Royalties has a total score of 5/6, 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 Freehold Royalties'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
22.34%
Current annual income from Freehold Royalties dividends. Estimated to be 20.81% next year.
If you bought €2,000 of Freehold Royalties shares you are expected to receive €447 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?
  • Freehold Royalties's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Freehold Royalties's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
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:1FH 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 3 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
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:1FH Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.63 1.00
2022-12-31 0.63 1.00
2021-12-31 0.57 10.00
2020-12-31 0.59 11.00
2020-03-30
DB:1FH Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-05 0.630 18.980
2020-02-13 0.630 9.467
2020-01-14 0.630 8.452
2019-12-11 0.630 8.484
2019-10-17 0.630 9.369
2019-09-18 0.630 8.611
2019-08-01 0.630 8.327
2019-07-17 0.630 7.853
2019-06-13 0.630 7.528
2019-04-16 0.630 7.281
2019-03-07 0.630 7.163
2019-02-13 0.630 6.968
2019-01-15 0.630 7.109
2018-12-13 0.630 7.591
2018-11-14 0.630 7.128
2018-10-11 0.630 6.369
2018-09-06 0.630 5.633
2018-07-12 0.630 5.236
2018-06-12 0.630 5.110
2018-05-09 0.630 4.933
2018-04-11 0.630 4.790
2018-03-08 0.630 5.052
2018-02-13 0.600 4.796
2018-01-11 0.600 4.360
2017-12-13 0.600 4.255
2017-11-09 0.600 4.026
2017-10-16 0.600 3.931
2017-09-13 0.600 4.066
2017-07-13 0.600 4.306
2017-06-13 0.600 4.697
2017-04-13 0.600 4.447
2017-03-03 0.600 4.383
2017-02-14 0.480 3.548
2017-01-12 0.480 3.629
2016-12-14 0.480 3.467
2016-11-08 0.480 3.708
2016-10-13 0.480 3.729
2016-09-14 0.480 3.945
2016-08-04 0.480 4.157
2016-07-18 0.480 4.227
2016-06-14 0.480 4.121
2016-05-11 0.480 4.165
2016-04-14 0.480 4.104
2016-03-03 0.480 4.511
2016-02-11 0.840 8.044
2016-01-19 0.840 8.405
2015-12-17 0.840 8.523
2015-11-12 0.840 7.836
2015-10-14 0.840 7.678
2015-09-15 0.840 7.283
2015-08-06 1.080 10.461
2015-07-14 1.080 8.140
2015-06-11 1.080 6.719
2015-05-14 1.080 6.123
2015-04-13 1.080 6.025
2015-03-09 1.080 6.103
2015-02-11 1.080 5.696
2015-01-14 1.080 5.971
2014-12-15 1.680 9.191
2014-11-13 1.680 8.544
2014-10-09 1.680 7.825
2014-09-03 1.680 7.139
2014-08-08 1.680 6.559
2014-07-17 1.680 6.461
2014-06-10 1.680 6.214
2014-05-15 1.680 6.552
2014-04-10 1.680 6.824
2014-03-10 1.680 7.296
2014-02-12 1.680 7.421
2014-01-09 1.680 7.574
2013-12-10 1.680 7.624
2013-10-10 1.680 7.214
2013-09-18 1.680 7.094
2013-07-10 1.680 7.089
2013-06-05 1.680 7.022
2013-05-15 1.680 7.052
2013-04-09 1.680 7.039
2013-03-07 1.680 7.261
2013-02-12 1.680 7.432
2013-01-15 1.680 7.261
2012-11-08 1.680 7.750
2012-10-10 1.680 8.306
2012-09-17 1.680 8.420
2012-08-10 1.680 8.639
2012-07-17 1.680 8.715
2012-06-13 1.680 9.361
2012-05-09 1.680 9.320
2012-04-12 1.680 9.054
2012-03-14 1.680 8.610
2012-02-13 1.680 8.264
2012-01-19 1.680 8.104
2011-12-12 1.680 8.555
2011-11-09 1.680 9.016
2011-10-18 1.680 9.213
2011-09-19 1.680 10.121
2011-08-10 1.680 9.351
2011-07-19 1.680 8.401
2011-06-16 1.680 8.468
2011-05-11 1.680 7.979
2011-04-15 1.680 7.566
2011-03-02 1.680 7.491
2011-02-16 1.680 7.706
2010-12-10 1.680 8.054
2010-11-10 1.680 8.601
2010-10-14 1.740 9.118
2010-09-20 1.740 9.807
2010-08-11 1.700 10.360
2010-07-15 1.680 10.090
2010-06-17 1.640 9.894
2010-05-12 1.600 9.685
2010-04-14 1.560 8.937
2010-03-03 1.520 8.962
2010-02-16 1.480 9.141
2010-01-19 1.440 9.249
2009-12-15 1.680 10.930
2009-11-10 1.680 11.057
2009-10-15 1.440 9.452
2009-09-17 1.440 9.094
2009-08-12 1.440 9.032
2009-07-16 1.200 7.967
2009-06-18 1.200 8.607
2009-05-13 1.200 9.008
2009-04-16 1.200 10.173

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Freehold Royalties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
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 Freehold Royalties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Freehold Royalties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Freehold Royalties 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 Freehold Royalties'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
Tom Mullane
COMPENSATION CA$458,760
AGE 58
TENURE AS CEO 6.8 years
CEO Bio

Mr. Thomas J. Mullane, also known as Tom, has been Chief Executive Officer and President of Rife Resources Ltd., since May 17, 2013. Mr. Mullane has been the Chief Executive Officer and President at Freehold Royalties Ltd. since May 17, 2013. He served as the Chief Operating Officer and Executive Vice President of Rife Resources Ltd., since July 2012. He served as the Chief Operating Officer and Executive Vice President of Freehold Royalties Ltd. from July 18, 2012 to May 15, 2013. He served as the Senior Vice President of Bonavista Energy Corporation (formerly, Bonavista Energy Trust and Bonavista Petroleum Ltd.) since January 2011. He served as Vice President of Engineering at Bonavista Energy Corporation. His responsibilities include acquisitions, exploitation and reservoir engineering management. He has over 24 years of industry experience, including two years as a High Impact Exploitation Engineer with Ulster Petroleum Limited and from 1992 to 1998 was employed by PanCanadian Petroleum Limited. He has a broad exploitation and production engineering background gathered from both domestic and international assignments. He has been Director of Freehold Royalties Ltd. since May 15, 2013 and Rife Resources Ltd., since May 19, 2016. He serves as a Member of the Association of Professional Engineers, Geologists & Geophysicists of Alberta. Mr. Mullane graduated from the University of Alberta in 1983 with a Bachelor of Science degree in Chemical Engineering.

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

Average tenure of the Freehold Royalties management team in years:

3.9
Average Tenure
  • The tenure for the Freehold Royalties management team is about average.
Management Team

Tom Mullane

TITLE
President
COMPENSATION
CA$459K
AGE
58
TENURE
6.8 yrs

David Spyker

TITLE
Chief Operating Officer
COMPENSATION
CA$273K
TENURE
1 yrs

Bob Lamond

TITLE
Vice-President of Asset Development
COMPENSATION
CA$289K
TENURE
1 yrs

David Hendry

TITLE
VP of Finance & CFO
TENURE
0.3 yrs

Matt Donohue

TITLE
Manager of Investor Relations & Capital Markets

Karen Taylor

TITLE
Corporate Secretary
TENURE
12 yrs

Michael Mogan

TITLE
Controller
TENURE
11.6 yrs

Rob King

TITLE
Vice-President
Board of Directors Tenure

Average tenure and age of the Freehold Royalties board of directors in years:

6.3
Average Tenure
62.5
Average Age
  • The tenure for the Freehold Royalties board of directors is about average.
Board of Directors

Marvin Romanow

TITLE
Independent Chairman of the Board
COMPENSATION
CA$180K
AGE
63
TENURE
3.8 yrs

Tom Mullane

TITLE
President
COMPENSATION
CA$459K
AGE
58
TENURE
6.8 yrs

Art Korpach

TITLE
Independent Corporate Director
COMPENSATION
CA$145K
AGE
62
TENURE
7.8 yrs

Sue MacKenzie

TITLE
Independent Corporate Director
COMPENSATION
CA$140K
AGE
59
TENURE
5.8 yrs

Peter Harrison

TITLE
Non Independent Director
COMPENSATION
CA$55K
AGE
63
TENURE
23.7 yrs

Aidan Walsh

TITLE
Independent Director
COMPENSATION
CA$138K
AGE
64
TENURE
6.8 yrs

Gary Bugeaud

TITLE
Independent Corporate Director
COMPENSATION
CA$130K
AGE
57
TENURE
4.8 yrs

J. Kay

TITLE
Independent Corporate Director
COMPENSATION
CA$130K
AGE
65
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Freehold Royalties individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Mar 20 Buy David Spyker Individual 11. Mar 20 12. Mar 20 21,350 €2.80 €57,922
09. Mar 20 Buy Thomas Mullane Individual 09. Mar 20 09. Mar 20 10,000 €3.12 €31,129
06. Mar 20 Buy David Hendry Individual 06. Mar 20 06. Mar 20 5,000 €3.93 €19,665
06. Mar 20 Buy Michael Stone Individual 06. Mar 20 06. Mar 20 5,000 €3.90 €19,504
07. Jan 20 Buy Robert King Individual 07. Jan 20 07. Jan 20 10,000 €5.31 €53,027
04. Jul 19 Buy Robert Lamond Individual 02. Jul 19 02. Jul 19 3,666 €5.52 €20,234
X
Management checks
We assess Freehold Royalties'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. Freehold Royalties 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

Freehold Royalties Ltd., an oil and gas royalty company, owns working interests in oil, natural gas, and potash properties in Western Canada and the United States. The company holds approximately 6.8 million gross acres of land from northeastern British Columbia to southern Ontario. It has interests in approximately 44,000 wells and receives royalty from 300 industry operators. The company was founded in 1996 and is based in Calgary, Canada.

Details
Name: Freehold Royalties Ltd.
1FH
Exchange: DB
Founded: 1996
CA$197,710,597
118,622,667
Website: http://www.freeholdroyalties.com
Address: Freehold Royalties Ltd.
517 – 10 Avenue SW,
Suite 1000,
Calgary,
Alberta, T2R 0A8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX FRU Common Shares The Toronto Stock Exchange CA CAD 20. Feb 1997
OTCPK FRHL.F Common Shares Pink Sheets LLC US USD 20. Feb 1997
DB 1FH Common Shares Deutsche Boerse AG DE EUR 20. Feb 1997
LSE 0UWL Common Shares London Stock Exchange GB CAD 20. Feb 1997
Number of employees
Current staff
Staff numbers
0
Freehold Royalties employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 23:44
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/29
Last earnings filing: 2020/03/04
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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

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