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Boral

DB:HQK
Snowflake Description

Undervalued average dividend payer.

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

Boral Limited manufactures and supplies building and construction materials in Australia, North America, Asia, and internationally. The last earnings update was 48 days ago. More info.


Add to Portfolio Compare Print
  • Boral has significant price volatility in the past 3 months.
HQK Share Price and Events
7 Day Returns
15%
DB:HQK
6.6%
Europe Basic Materials
2.1%
DE Market
1 Year Returns
-56.2%
DB:HQK
-26.7%
Europe Basic Materials
-16.6%
DE Market
HQK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boral (HQK) 15% -45.8% -53.6% -56.2% -68.5% -72%
Europe Basic Materials 6.6% -18.2% -32.2% -26.7% -36.7% -34%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • HQK underperformed the Basic Materials industry which returned -26.7% over the past year.
  • HQK underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
HQK
Industry
5yr Volatility vs Market

Value

 Is Boral 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 Boral 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 Boral.

DB:HQK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
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:HQK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.817 (1 + (1- 30%) (102.45%))
1.27
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.27
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.27 * 5.44%)
6.52%

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

The calculations below outline how an intrinsic value for Boral 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:HQK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 6.52%)
2020 104.00 Analyst x3 97.63
2021 477.28 Analyst x4 420.63
2022 535.29 Analyst x3 442.87
2023 591.19 Analyst x1 459.17
2024 628.31 Est @ 6.28% 458.13
2025 655.19 Est @ 4.28% 448.48
2026 674.05 Est @ 2.88% 433.14
2027 686.83 Est @ 1.9% 414.34
2028 695.15 Est @ 1.21% 393.68
2029 700.23 Est @ 0.73% 372.28
Present value of next 10 years cash flows A$3,940.00
DB:HQK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$700.23 × (1 + -0.39%) ÷ (6.52% – -0.39%)
A$10,091.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$10,091.89 ÷ (1 + 6.52%)10
A$5,365.36
DB:HQK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$3,940.00 + A$5,365.36
A$9,305.36
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$9,305.36 / 1,172.33
A$7.94
DB:HQK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:HQK represents 0.55794x of ASX:BLD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.55794x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 7.94 x 0.55794
€4.43
Value per share (EUR) From above. €4.43
Current discount Discount to share price of €1.30
= -1 x (€1.30 - €4.43) / €4.43
70.6%

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

Current Discount
Amount off the current price Boral is available for.
Intrinsic value
>50%
Share price is €1.3 vs Future cash flow value of €4.43
Current Discount Checks
For Boral to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Boral's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Boral'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 Boral's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Boral's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:HQK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.14
ASX:BLD Share Price ** ASX (2020-04-07) in AUD A$2.33
Europe Basic Materials Industry PE Ratio Median Figure of 33 Publicly-Listed Basic Materials Companies 9.52x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Boral.

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

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

= 2.33 ÷ 0.14

16.08x

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

  • Boral is overvalued based on earnings compared to the Europe Basic Materials industry average.
  • Boral is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Boral's expected growth come at a high price?
Raw Data
DB:HQK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.08x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
25%per year
Europe Basic Materials Industry PEG Ratio Median Figure of 17 Publicly-Listed Basic Materials Companies 1.67x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.08x ÷ 25%

0.64x

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

  • Boral is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Boral's assets?
Raw Data
DB:HQK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$4.95
ASX:BLD Share Price * ASX (2020-04-07) in AUD A$2.33
Europe Basic Materials Industry PB Ratio Median Figure of 39 Publicly-Listed Basic Materials Companies 0.85x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:HQK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.33 ÷ 4.95

0.47x

* Primary Listing of Boral.

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

  • Boral is good value based on assets compared to the Europe Basic Materials industry average.
X
Value checks
We assess Boral'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. Boral has a total score of 5/6, 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 Boral expected to perform in the next 1 to 3 years based on estimates from 9 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
25%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boral expected to grow at an attractive rate?
  • Boral's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Boral's earnings growth is expected to exceed the Germany market average.
  • Boral's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:HQK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:HQK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 25%
DB:HQK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 2.4%
Europe Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:HQK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:HQK Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30 6,171 886 1
2023-06-30 5,928 807 461 2
2022-06-30 5,975 856 316 7
2021-06-30 5,617 780 264 9
2020-06-30 5,586 560 204 8
2020-04-07
DB:HQK Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 5,864 746 170
2019-09-30 5,832 754 192
2019-06-30 5,801 762 215
2018-12-31 5,678 615 441
2018-09-30 5,629 596 432
2018-06-30 5,579 578 424
2017-12-31 4,965 471 279
2017-09-30 4,547 442 262
2017-06-30 4,128 413 246
2017-03-31 4,138 468 251

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Boral's earnings are expected to grow significantly at over 20% yearly.
  • Boral's revenue is expected to grow by 2.4% 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:HQK 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 9 Analyst Estimates (S&P Global) See Below

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

DB:HQK Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30
2023-06-30 0.39 0.39 0.39 1.00
2022-06-30 0.32 0.37 0.24 3.00
2021-06-30 0.25 0.33 0.14 6.00
2020-06-30 0.19 0.23 0.11 4.00
2020-04-07
DB:HQK Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.14
2019-09-30 0.16
2019-06-30 0.18
2018-12-31 0.38
2018-09-30 0.37
2018-06-30 0.36
2017-12-31 0.24
2017-09-30 0.24
2017-06-30 0.24
2017-03-31 0.27

*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.
  • Boral is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Boral'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.
Boral 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 Boral 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 Boral's growth in the last year to its industry (Basic Materials).
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.
  • Boral's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Boral's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Boral's 1-year earnings growth is negative, it can't be compared to the Europe Basic Materials industry average.
Earnings and Revenue History
Boral'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 Boral Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:HQK 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 5,863.50 169.90 1,442.30
2019-09-30 5,832.05 192.25 1,423.65
2019-06-30 5,800.60 214.60 1,405.00
2018-12-31 5,677.90 440.50 1,414.10
2018-09-30 5,628.60 432.30 1,391.80
2018-06-30 5,579.30 424.10 1,369.50
2017-12-31 4,965.10 278.90 1,190.30
2017-09-30 4,546.55 262.30 1,115.30
2017-06-30 4,128.00 245.70 1,040.30
2017-03-31 4,138.35 250.85 1,051.85
2016-12-31 3,951.20 249.00 1,026.20
2016-09-30 3,948.20 247.25 1,014.15
2016-06-30 3,945.20 245.50 1,002.10
2016-03-31 3,992.90 258.85 1,003.95
2015-12-31 4,040.60 272.20 1,005.80
2015-09-30 4,169.10 257.80 1,021.75
2015-06-30 4,297.60 243.40 1,037.70
2015-03-31 4,310.20 196.40 1,028.70
2014-12-31 4,322.80 149.40 1,019.70
2014-09-30 4,324.25 126.30 1,020.50
2014-06-30 4,325.70 103.20 1,021.30
2014-03-31 4,265.40 -26.10 1,015.45
2013-12-31 4,205.10 -155.40 1,009.60
2013-09-30 4,184.25 -215.55 1,012.35
2013-06-30 4,163.40 -275.70 1,015.10

*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.
  • Boral has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Boral used its assets less efficiently than the Europe Basic Materials industry average last year based on Return on Assets.
  • Boral has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Boral'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 Basic Materials 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.
Boral has a total score of 2/6, 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 Boral'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 Boral's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Boral is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Boral's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Boral'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 0.7x 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 Boral Company Filings, last reported 3 months ago.

DB:HQK Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,797.20 2,406.30 85.90
2019-09-30 5,797.20 2,406.30 85.90
2019-06-30 5,858.90 2,395.00 211.00
2018-12-31 5,943.30 2,374.00 93.40
2018-09-30 5,943.30 2,374.00 93.40
2018-06-30 5,730.80 2,510.00 85.50
2017-12-31 5,438.40 2,500.90 155.60
2017-09-30 5,438.40 2,500.90 155.60
2017-06-30 5,440.50 2,555.50 241.60
2017-03-31 5,440.50 2,555.50 241.60
2016-12-31 5,603.60 1,356.90 2,588.60
2016-09-30 5,603.60 1,356.90 2,588.60
2016-06-30 3,506.30 1,341.10 471.00
2016-03-31 3,506.30 1,341.10 471.00
2015-12-31 3,476.10 1,365.10 351.50
2015-09-30 3,476.10 1,365.10 351.50
2015-06-30 3,524.10 1,317.50 515.40
2015-03-31 3,524.10 1,317.50 515.40
2014-12-31 3,491.50 1,238.20 356.80
2014-09-30 3,491.50 1,238.20 356.80
2014-06-30 3,348.10 1,096.30 391.50
2014-03-31 3,348.10 1,096.30 391.50
2013-12-31 3,402.90 1,644.50 262.90
2013-09-30 3,402.90 1,644.50 262.90
2013-06-30 3,393.50 1,660.80 243.70
  • Boral's level of debt (41.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (35.5% vs 41.5% today).
  • Debt is well covered by operating cash flow (31%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess Boral'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. Boral has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Boral'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
9.87%
Current annual income from Boral dividends. Estimated to be 7.68% next year.
If you bought €2,000 of Boral shares you are expected to receive €197 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?
  • Boral's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Boral's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
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:HQK 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 9 Analyst Estimates (S&P Global) See Below
Europe Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:HQK Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-06-30
2023-06-30 0.25 1.00
2022-06-30 0.21 8.00
2021-06-30 0.16 10.00
2020-06-30 0.16 10.00
2020-04-07
DB:HQK Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-10 0.230 7.459
2019-08-26 0.265 5.574
2019-02-25 0.270 5.364
2018-09-17 0.280 5.196
2018-08-28 0.280 4.037
2018-02-12 0.250 3.655
2017-08-29 0.240 3.291
2017-02-14 0.240 3.714
2016-09-16 0.230 3.928
2016-08-23 0.230 3.520
2016-02-09 0.220 3.451
2015-08-26 0.190 3.455
2015-02-10 0.170 2.726
2014-09-17 0.160 3.113
2014-08-26 0.160 2.989
2014-02-11 0.140 2.568
2013-08-20 0.110 2.318
2013-02-12 0.085 1.863
2012-09-20 0.110 2.684
2012-08-21 0.110 3.130
2011-09-21 0.145 3.985
2011-08-17 0.145 4.106
2010-08-18 0.135 2.913
2009-08-19 0.110 2.019

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 Boral's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Boral's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Boral afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Boral has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Boral'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
Mike Kane
COMPENSATION A$3,842,000
AGE 68
TENURE AS CEO 7.5 years
CEO Bio

Mr. Michael Kane, also known as Mike, BA, JD, MS, has been the Chief Executive Officer and Managing Director of Boral Limited since October 1, 2012. Mr. Kane served as the President of Boral Industries, Inc (Boral USA ) at Boral Ltd. from February 2010 to September 2012. Mr. Kane served as the President of United States Operations at Boral Ltd. since March 1, 2010. He has a deep knowledge of the US building and construction materials industry. His experience spans a broad range of geographies across America, Europe and the Asia Pacific, and his portfolio of responsibilities has included cement, aggregate, concrete, plasterboard, bricks and roof tile businesses. Mr Kane has extensive experience in the building and construction industry. He has also worked for US Gypsum, Hanson Building Materials and Holcim. Mr. Kane served as the Chief Executive Officer of CalStar Products, Inc. since 2009. Mr. Kane joined CalStar Products, Inc. in 2009. At Berkshire Hathaway's Johns Manville Corporation, Mr. Kane introduced the first formaldehyde-free fiberglass wall insulation-by removing phenol formaldehyde from the resin binder. He served as Senior Vice President of Southeast Region of Holcim (US) Inc. Prior, Mr. Kane served as the President and Chief Executive Officer of Pioneer USA. An attorney by training, Mr. Kane started his career in product and environmental safety at USG. He has been a Director of Boral Limited since October 1, 2012. He served as a Director of CalStar Products, Inc. He was Director of the Harvard Joint Center for Housing Studies Advisory Board, the National Ready Mix Concrete Association and the Alliance to Save Energy. Mr. Kane is credited with helping to revolutionize the insulation business. He served as Independent Non-Executive Director at Sims Metal Management Limited since March 20, 2019 until November 4, 2019. He holds a Masters in Science from Creighton University, School of Law in Nebraska. He holds a BA in Sociology from Southern Illinois University and a JD from DePaul University's School of Law in Illinois.

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

Average tenure of the Boral management team in years:

5.1
Average Tenure
  • The average tenure for the Boral management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Mike Kane

TITLE
CEO, MD & Director
COMPENSATION
A$4M
AGE
68
TENURE
7.5 yrs

Rosaline Ng

TITLE
Group President Ventures & CFO
COMPENSATION
A$1M

Ross Harper

TITLE
Group President of Operations
COMPENSATION
A$1M
TENURE
1.2 yrs

David Mariner

TITLE
President & CEO of North America
COMPENSATION
A$1M
TENURE
3.8 yrs

Wayne Manners

TITLE
President & CEO of Boral Australia
COMPENSATION
A$324K
TENURE
1.2 yrs

Kylie FitzGerald

TITLE
Group Communications & Investor Relations Director

Damien Sullivan

TITLE
Group General Counsel
TENURE
6.8 yrs

Ramesh Karnani

TITLE
Group Head of Strategy
TENURE
1.3 yrs

Linda Coates

TITLE
Group Human Resources Director
TENURE
6.4 yrs

Dominic Millgate

TITLE
Company Secretary
AGE
44
TENURE
6.8 yrs
Board of Directors Tenure

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

7.5
Average Tenure
64
Average Age
  • The tenure for the Boral board of directors is about average.
Board of Directors

Kathryn Fagg

TITLE
Non-Executive Chairman
COMPENSATION
A$466K
AGE
58
TENURE
1.8 yrs

Mike Kane

TITLE
CEO, MD & Director
COMPENSATION
A$4M
AGE
68
TENURE
7.5 yrs

Paul Rayner

TITLE
Non-Executive Director
COMPENSATION
A$197K
AGE
65
TENURE
11.6 yrs

John Marlay

TITLE
Non-Executive Director
COMPENSATION
A$197K
AGE
70
TENURE
10.3 yrs

Eileen Doyle

TITLE
Non-Executive Director
COMPENSATION
A$208K
AGE
64
TENURE
10.1 yrs

Karen Moses

TITLE
Non-Executive Director
COMPENSATION
A$192K
AGE
61
TENURE
4.1 yrs

Peter Alexander

TITLE
Non-Executive Director
COMPENSATION
A$147K
AGE
62
TENURE
1.6 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 (€)
26. Mar 20 Sell Sumitomo Mitsui Trust Asset Management Co., Ltd. Company 08. Aug 19 24. Mar 20 -744,747 €2.63 €-1,956,919
26. Mar 20 Buy Sumitomo Mitsui Trust Asset Management Co., Ltd. Company 08. Aug 19 24. Mar 20 114,639 €2.78 €318,790
26. Mar 20 Sell Affin Hwang Asset Management Berhad Company 08. Aug 19 24. Mar 20 -180,476 €2.20 €-396,723
26. Mar 20 Sell Nikko Asset Management Co., Ltd. Company 08. Aug 19 24. Mar 20 -15,034,393 €2.74 €-28,636,480
26. Mar 20 Buy Nikko Asset Management Co., Ltd. Company 08. Aug 19 24. Mar 20 13,107,073 €3.09 €31,626,622
04. Sep 19 Sell Capital Research and Management Company Company 27. Aug 19 30. Aug 19 -57,961,722 €2.61 €-151,446,964
04. Sep 19 Buy Peter Alexander Individual 28. Aug 19 28. Aug 19 14,300 €2.54 €36,304
29. Aug 19 Buy Kathryn Fagg Individual 28. Aug 19 28. Aug 19 23,783 €2.53 €60,090
29. Aug 19 Buy Karen Moses Individual 28. Aug 19 28. Aug 19 13,825 €2.67 €36,950
29. Aug 19 Buy Paul Rayner Individual 27. Aug 19 27. Aug 19 48,780 €2.50 €121,798
28. Aug 19 Sell Capital Research and Management Company Company 02. Dec 16 26. Aug 19 -12,665,445 €1.67 €-21,202,793
15. Aug 19 Sell BlackRock, Inc. Company 17. May 19 14. Aug 19 -18,603,842 €3.44 €-66,514
15. Aug 19 Buy BlackRock, Inc. Company 17. May 19 14. Aug 19 3,700,899 €3.48 €44,942
09. Aug 19 Buy Sumitomo Mitsui Trust Asset Management Co., Ltd. Company 07. Apr 19 07. Aug 19 87,109 €3.12 €271,696
09. Aug 19 Buy Nikko Asset Management Co., Ltd. Company 07. Apr 19 07. Aug 19 11,341,278 €3.26 €34,624,720
19. May 19 Sell BlackRock, Inc. Company 06. Sep 18 16. May 19 -8,728,291 €4.36 €-2,800,603
19. May 19 Buy BlackRock, Inc. Company 06. Sep 18 16. May 19 19,551,183 €4.36 €48,384
X
Management checks
We assess Boral'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. Boral 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

Boral Limited manufactures and supplies building and construction materials in Australia, North America, Asia, and internationally. It offers asphalt, blocks, bricks, cement materials, concrete, pavers and retaining walls, plasterboards, quarry materials, roof tiles, fly ash, light building products and windows, and stones, as well as roofing and masonry, and timber products. The company also provides asphalt laying/spray sealing, concrete placing, roof tile installation, material technical, and empty pallet collection services. In addition, it engages in the transport, landfill, and property activities. The company serves residential and non-residential construction, and the engineering and infrastructure markets. Boral Limited was founded in 1946 and is headquartered in North Sydney, Australia.

Details
Name: Boral Limited
HQK
Exchange: DB
Founded: 1946
A$1,539,400,852
1,172,331,924
Website: http://www.boral.com.au
Address: Boral Limited
15 Blue Street,
Level 18,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX BLD Ordinary Shares Australian Securities Exchange AU AUD 22. Feb 2000
OTCPK BOAL.F Ordinary Shares Pink Sheets LLC US USD 22. Feb 2000
DB HQK Ordinary Shares Deutsche Boerse AG DE EUR 22. Feb 2000
CHIA BLD Ordinary Shares Chi-X Australia AU AUD 22. Feb 2000
OTCPK BOAL.Y SPONSORED ADR Pink Sheets LLC US USD 04. Aug 2000
Number of employees
Current staff
Staff numbers
11,621
Boral employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:52
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/05
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.