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BT Group

DB:BTQ
Snowflake Description

Very undervalued established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BTQ
DB
£12B
Market Cap
  1. Home
  2. DE
  3. Telecom
Company description

BT Group plc provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, the Asia Pacific, and internationally. The last earnings update was 68 days ago. More info.


Add to Portfolio Compare Print
  • BT Group has significant price volatility in the past 3 months.
BTQ Share Price and Events
7 Day Returns
5.2%
DB:BTQ
3.6%
DE Telecom
2.1%
DE Market
1 Year Returns
-45.6%
DB:BTQ
-18.5%
DE Telecom
-16.6%
DE Market
BTQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BT Group (BTQ) 5.2% -5.9% -38.6% -45.6% -62.3% -77.6%
DE Telecom 3.6% -14% -15% -18.5% -28.5% -34.7%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • BTQ underperformed the Telecom industry which returned -18.5% over the past year.
  • BTQ underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
BTQ
Industry
5yr Volatility vs Market
Related Companies

Value

 Is BT Group 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 BT Group 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 BT Group.

DB:BTQ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.8%
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:BTQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.39
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.391 (1 + (1- 19%) (199.54%))
1.015
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% + (1.015 * 6.07%)
5.77%

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

The calculations below outline how an intrinsic value for BT Group 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:BTQ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 5.77%)
2020 2,270.88 Analyst x8 2,146.98
2021 2,115.78 Analyst x9 1,891.21
2022 2,244.00 Analyst x7 1,896.38
2023 1,681.67 Analyst x3 1,343.63
2024 1,613.00 Analyst x2 1,218.45
2025 1,615.50 Analyst x2 1,153.76
2026 1,490.12 Est @ -7.76% 1,006.15
2027 1,407.42 Est @ -5.55% 898.46
2028 1,351.10 Est @ -4% 815.45
2029 1,311.67 Est @ -2.92% 748.46
Present value of next 10 years cash flows £13,118.00
DB:BTQ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £1,311.67 × (1 + -0.39%) ÷ (5.77% – -0.39%)
£21,207.87
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £21,207.87 ÷ (1 + 5.77%)10
£12,101.59
DB:BTQ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £13,118.00 + £12,101.59
£25,219.59
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £25,219.59 / 9,811.38
£2.57
DB:BTQ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BTQ represents 1.16105x of LSE:BT.A
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.16105x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.57 x 1.16105
€2.98
Value per share (EUR) From above. €2.98
Current discount Discount to share price of €1.41
= -1 x (€1.41 - €2.98) / €2.98
52.7%

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

Current Discount
Amount off the current price BT Group is available for.
Intrinsic value
>50%
Share price is €1.41 vs Future cash flow value of €2.98
Current Discount Checks
For BT Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BT Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BT Group'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 BT Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BT Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BTQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in GBP £0.24
LSE:BT.A Share Price ** LSE (2020-04-07) in GBP £1.22
Europe Telecom Industry PE Ratio Median Figure of 61 Publicly-Listed Telecom Companies 17.97x
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 BT Group.

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

= LSE:BT.A Share Price ÷ EPS (both in GBP)

= 1.22 ÷ 0.24

5.02x

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

  • BT Group is good value based on earnings compared to the Europe Telecom industry average.
  • BT Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does BT Group's expected growth come at a high price?
Raw Data
DB:BTQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.02x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
6%per year
Europe Telecom Industry PEG Ratio Median Figure of 33 Publicly-Listed Telecom Companies 1.36x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.02x ÷ 6%

0.84x

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

  • BT Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on BT Group's assets?
Raw Data
DB:BTQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in GBP £1.03
LSE:BT.A Share Price * LSE (2020-04-07) in GBP £1.22
Germany Telecom Industry PB Ratio Median Figure of 7 Publicly-Listed Telecom Companies 1.24x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:BTQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:BT.A Share Price ÷ Book Value per Share (both in GBP)

= 1.22 ÷ 1.03

1.19x

* Primary Listing of BT Group.

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

  • BT Group is good value based on assets compared to the DE Telecom industry average.
X
Value checks
We assess BT Group'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 Telecom 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 Telecom industry average (and greater than 0)? (1 check)
  5. BT Group has a total score of 6/6, 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 BT Group expected to perform in the next 1 to 3 years based on estimates from 18 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
6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BT Group expected to grow at an attractive rate?
  • BT Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • BT Group's earnings growth is positive but not above the Germany market average.
  • BT Group's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BTQ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BTQ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 6%
DB:BTQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 0.2%
Germany Telecom Industry Earnings Growth Rate Market Cap Weighted Average 19.4%
Germany Telecom Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
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:BTQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BTQ Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2025-03-31 23,929 3,259 2
2024-03-31 22,843 3,032 3
2023-03-31 22,592 2,075 6
2022-03-31 22,505 6,863 2,051 15
2021-03-31 22,489 6,730 2,029 18
2020-04-07
2020-03-31 22,784 6,644 1,989 17
DB:BTQ Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-12-31 23,116 2,039
2019-09-30 23,307 5,675 2,175
2019-06-30 23,346 2,115
2019-03-31 23,428 4,256 2,159
2018-12-31 23,525 2,368
2018-09-30 23,525 3,096 2,275
2018-06-30 23,604 2,296
2018-03-31 23,723 4,927 2,032
2017-12-31 23,878 5,772 1,690
2017-09-30 24,036 5,691 1,563
2017-06-30 24,122 6,155 1,605
2017-03-31 24,062 6,174 1,908

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BT Group's earnings are expected to grow by 6% yearly, however this is not considered high growth (20% yearly).
  • BT Group's revenue is expected to grow by 0.2% 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:BTQ 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 18 Analyst Estimates (S&P Global) See Below

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

DB:BTQ Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2025-03-31
2024-03-31
2023-03-31 0.21 0.25 0.18 3.00
2022-03-31 0.20 0.24 0.17 9.00
2021-03-31 0.20 0.26 0.17 12.00
2020-04-07
2020-03-31 0.20 0.22 0.19 11.00
DB:BTQ Past Financials Data
Date (Data in GBP Millions) EPS *
2019-12-31
2019-09-30 0.24
2019-06-30
2019-03-31 0.22
2018-12-31
2018-09-30 0.23
2018-06-30
2018-03-31 0.21
2017-12-31 0.17
2017-09-30 0.16
2017-06-30 0.16
2017-03-31 0.19

*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.
  • BT Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BT Group'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.
BT Group has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

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

Past Performance

  How has BT Group 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 BT Group's growth in the last year to its industry (Telecom).
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.
  • BT Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • BT Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BT Group's 1-year earnings growth is negative, it can't be compared to the Europe Telecom industry average.
Earnings and Revenue History
BT Group'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 BT Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BTQ Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 23,116.00 2,039.00 322.00
2019-09-30 23,307.00 2,175.00 322.00
2019-06-30 23,346.00 2,115.00 322.00
2019-03-31 23,428.00 2,159.00 322.00
2018-12-31 23,525.00 2,368.00
2018-09-30 23,525.00 2,275.00 317.00
2018-06-30 23,604.00 2,296.00
2018-03-31 23,723.00 2,032.00 317.00
2017-12-31 23,878.00 1,690.00
2017-09-30 24,036.00 1,563.00
2017-06-30 24,122.00 1,605.00
2017-03-31 24,062.00 1,908.00 365.00
2016-12-31 23,510.00 2,236.00
2016-09-30 22,012.00 2,628.00
2016-06-30 20,427.00 2,543.00
2016-03-31 19,012.00 2,466.00
2015-12-31 18,151.00 2,448.00
2015-09-30 17,996.00 2,240.00
2015-06-30 17,985.00 2,205.00
2015-03-31 17,968.00 2,057.00
2014-12-31 18,018.00 2,011.00
2014-09-30 18,142.00 1,946.00
2014-06-30 18,192.00 2,113.00
2014-03-31 18,287.00 2,018.00
2013-12-31 18,354.00 2,007.00
2013-09-30 18,131.00 1,964.00
2013-06-30 18,048.00 1,879.00

*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.
  • BT Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BT Group used its assets less efficiently than the Europe Telecom industry average last year based on Return on Assets.
  • BT Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BT Group'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 Telecom 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.
BT Group has a total score of 0/6, see the detailed checks below.

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

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

Health

 How is BT Group'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 BT Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BT Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BT Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BT Group'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 0.6x 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 BT Group Company Filings, last reported 3 months ago.

DB:BTQ Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 10,285.00 23,826.00 4,226.00
2019-09-30 10,285.00 17,714.00 4,226.00
2019-06-30 10,167.00 16,876.00 4,880.00
2019-03-31 10,167.00 16,670.00 4,880.00
2018-12-31 10,928.00 17,069.00 3,790.00
2018-09-30 10,928.00 17,069.00 3,790.00
2018-06-30 10,304.00 14,275.00 3,550.00
2018-03-31 9,911.00 14,052.00 3,550.00
2017-12-31 8,170.00 15,462.00 4,925.00
2017-09-30 7,890.00 14,065.00 2,925.00
2017-06-30 8,064.00 14,181.00 3,721.00
2017-03-31 8,335.00 12,484.00 2,048.00
2016-12-31 7,127.00 13,671.00 2,794.00
2016-09-30 6,634.00 14,357.00 2,952.00
2016-06-30 10,150.00 13,898.00 2,887.00
2016-03-31 10,112.00 14,528.00 3,914.00
2015-12-31 2,810.00 8,430.00 2,733.00
2015-09-30 1,106.00 8,390.00 1,821.00
2015-06-30 862.00 8,812.00 2,629.00
2015-03-31 681.00 9,944.00 4,377.00
2014-12-31 -241.00 9,474.00 2,763.00
2014-09-30 -365.00 9,241.00 1,800.00
2014-06-30 -359.00 9,467.00 2,249.00
2014-03-31 -592.00 9,550.00 2,475.00
2013-12-31 -950.00 9,960.00 1,311.00
2013-09-30 -926.00 10,509.00 1,238.00
2013-06-30 615.00 10,769.00 1,348.00
  • BT Group's level of debt (172.2%) compared to net worth is high (greater than 40%).
  • BT Group had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is well covered by operating cash flow (32%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.3x coverage).
X
Financial health checks
We assess BT Group'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. BT Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is BT Group'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
12.65%
Current annual income from BT Group dividends. Estimated to be 9.26% next year.
If you bought €2,000 of BT Group shares you are expected to receive €253 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?
  • BT Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • BT Group'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:BTQ 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 18 Analyst Estimates (S&P Global) See Below
Germany Telecom Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 4.9%
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:BTQ Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2025-03-31 0.14 3.00
2024-03-31 0.14 3.00
2023-03-31 0.12 8.00
2022-03-31 0.11 17.00
2021-03-31 0.11 19.00
2020-04-07
2020-03-31 0.15 17.00
DB:BTQ Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.154 8.904
2018-05-24 0.154 6.738
2017-05-25 0.154 5.872
2016-07-13 0.140 3.973
2015-05-21 0.124 2.766
2014-05-22 0.109 2.688
2014-05-08 0.109 2.899
2013-11-05 0.099 2.593
2013-08-06 0.095 2.754
2012-05-24 0.083 3.332
2012-05-10 0.083 4.024
2012-01-31 0.076 3.509
2011-05-12 0.074 3.956
2010-05-14 0.069 4.377
2009-11-12 0.034 2.591
2009-05-14 0.065 5.581

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 BT Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess BT Group'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 BT Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BT Group has a total score of 5/6, 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 BT Group'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
Philip Eric Jansen
COMPENSATION £2,100,000
AGE 52
TENURE AS CEO 1.2 years
CEO Bio

Mr. Philip Eric Rene Jansen has been Executive Director of BT Group Plc d/b/a British Telecom since January 1, 2019 and has been its Chief Executive Officer since February 1, 2019. Mr. Philip has been the Co-Chief Executive Officer of Worldpay, Inc. since January 16, 2018 and has been its Director since January 16, 2018. He was Chief Executive officer of Worldpay Group plc, WorldPay US, Inc., WorldPay (UK) Limited and WorldPay Limited since April 2013 and is responsible for delivering strategic plans and ensures that the business builds on the significant progress. Mr. Jansen serves as Senior Adviser to Bain Capital. He served as the Group Chief Executive Officer of Brake Bros Limited (formerly, Brakes Group) from July 2010 to December 2012. He served as Group Chief Operating Officer of Sodexo S.A (formerly, Sodexho Alliance S.A.) since September 2005 and served as its Chief Executive Officer Europe, On-site Service Solutions. He served as the Chief Executive Officer for United Kingdom and Ireland of Sodexo since October 1, 2004 and as its Chief Executive Officer of Europe Food and Facilities Management services. He has a track record of achievement in UK, European and international business. He served as the Chief Operating Officer of Mytravel Group plc from October 2002 to September 2004. He joined MyTravel Group in September 2002 as European Chief Executive. From 1988 to 1999, he held a number of senior commercial and marketing positions with Dunlop Slazenger Group. Previously, he served as Managing Director of the Consumer Division of Telewest Global Inc. (formerly, Telewest Communications PLC), and Commercial Director and Marketing & Sales Manager of the Dunlop Slazenger Group after starting his career with Procter & Gamble. He served as the Chairman of Brake Bros Limited until April 1, 2013 and its Director from July 1, 2010 to April 1, 2013. He served as an Executive Director at Worldpay Group plc (Worldpay Group Limited) and WorldPay Limited since April 30, 2013. He has been a Director of Ship Midco Limited since April 30, 2013. He served as a Director of Mytravel Group Plc from September 2002 to September 30, 2004. He served as a Non-Executive Director of Travis Perkins Plc from April 9, 2009 to May 23, 2013. He serves as a Non-Executive Director of England's Professional Cricket Association (PCA), and a Public Service Commission Member of the UK Better Regulation Commission. He is also a trustee of the charity Wellbeing of Women. Mr. Jansen is a Graduate of University College Cardiff (UK) in 1988 with a Bachelor’s of Science degree in Economics.

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

Average tenure and age of the BT Group management team in years:

3.8
Average Tenure
53.5
Average Age
  • The tenure for the BT Group management team is about average.
Management Team

Philip Eric Jansen

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
52
TENURE
1.2 yrs

Simon Lowth

TITLE
CFO & Executive Director
COMPENSATION
£2M
AGE
57
TENURE
3.8 yrs

John Watson

TITLE
Chief Technology & Information Officer
AGE
56
TENURE
4.2 yrs

Mark Lidiard

TITLE
Group Investor Relations Director
AGE
53

Sabine Chalmers

TITLE
Group General Counsel
AGE
54
TENURE
2 yrs

Zaid Al-Qassab

TITLE
Chief Brand and Marketing Officer
TENURE
4 yrs

Alison Wilcox

TITLE
Human Resources Director
TENURE
4.8 yrs

Ralph Brenner

TITLE
Head of the Com Department - SBS Switzerland

Bas Burger

TITLE
Chief Executive Officer of Global Services
AGE
48
TENURE
2.8 yrs

Damien Maltarp

TITLE
Chief Financial Officer of Wholesale & Ventures
Board of Directors Tenure

Average tenure and age of the BT Group board of directors in years:

4
Average Tenure
58
Average Age
  • The tenure for the BT Group board of directors is about average.
Board of Directors

Jan du Plessis

TITLE
Chairman of the Board
COMPENSATION
£365K
AGE
65
TENURE
2.4 yrs

Philip Eric Jansen

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
52
TENURE
1.3 yrs

Simon Lowth

TITLE
CFO & Executive Director
COMPENSATION
£2M
AGE
57
TENURE
3.8 yrs

Mike McTighe

TITLE
Chairman of Openreach
AGE
66
TENURE
3.3 yrs

Nick Rose

TITLE
Senior Independent Director
COMPENSATION
£172K
AGE
61
TENURE
6.1 yrs

Isabel Hudson

TITLE
Independent Non-Executive Director
COMPENSATION
£160K
AGE
59
TENURE
5.4 yrs

Iain Conn

TITLE
Independent Non-Executive Director
COMPENSATION
£124K
AGE
56
TENURE
5.8 yrs

Mike Inglis

TITLE
Independent Non-Executive Director
COMPENSATION
£128K
AGE
59
TENURE
4.6 yrs

Tim Höttges

TITLE
Non-Independent Non-Executive Director
AGE
57
TENURE
4.3 yrs

Matthew Key

TITLE
Independent Non-Executive Director
COMPENSATION
£40K
AGE
56
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by BT Group individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
31. Mar 20 Buy Matthew Key Individual 31. Mar 20 31. Mar 20 66,433 €1.34 €88,813
20. Dec 19 Buy Simon Lowth Individual 19. Dec 19 19. Dec 19 425,057 €2.39 €1,015,070
07. Jun 19 Buy Philip Eric Jansen Individual 06. Jun 19 06. Jun 19 1,484,413 €2.27 €3,375,134
14. May 19 Buy Matthew Key Individual 13. May 19 13. May 19 18,500 €2.36 €43,688
X
Management checks
We assess BT Group'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. BT Group 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

BT Group plc provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, the Asia Pacific, and internationally. It operates in four segments: Consumer, Enterprise, Global Services, and Openreach. The Consumer segment offers mobile, broadband, home phone, and TV services under the BT, EE and Plusnet brands. The Enterprise segment sells communications and IT services to businesses and public sector organizations; and provides network products and services to communications providers. Its services include fixed voice, mobile, converged connectivity, and networked IT. The Global Services segment offers enterprise communications services, including managed network and IT infrastructure services to enterprise customers. The Openreach segment builds and operates fixed network that connects the homes and businesses. It also provides wholesale ‘last mile’ fixed access from premises to exchanges; and installs and maintains fiber and copper communications networks. The company was formerly known as Newgate Telecommunications Limited and changed its name to BT Group plc in September 2001. BT Group plc was incorporated in 2001 and is headquartered in London, the United Kingdom.

Details
Name: BT Group plc
BTQ
Exchange: DB
Founded: 2001
£13,534,461,869
9,811,384,911
Website: http://www.btplc.com
Address: BT Group plc
BT Centre,
81 Newgate Street,
London,
Greater London, EC1A 7AJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE BT.A Ordinary Shares London Stock Exchange GB GBP 01. Apr 1986
OTCPK BTGO.F Ordinary Shares Pink Sheets LLC US USD 01. Apr 1986
DB BTQ Ordinary Shares Deutsche Boerse AG DE EUR 01. Apr 1986
XTRA BTQ Ordinary Shares XETRA Trading Platform DE EUR 01. Apr 1986
BMV BTA N Ordinary Shares Bolsa Mexicana de Valores MX MXN 01. Apr 1986
BATS-CHIXE BTL Ordinary Shares BATS 'Chi-X Europe' GB GBP 01. Apr 1986
MUN BTQA ADR EACH REP 5 ORD Boerse Muenchen DE EUR 02. Apr 1986
LSE 0HKT ADR EACH REP 5 ORD London Stock Exchange GB USD 02. Apr 1986
BMV BT N ADR EACH REP 5 ORD Bolsa Mexicana de Valores MX MXN 02. Apr 1986
Number of employees
Current staff
Staff numbers
106,700
BT Group employees.
Industry
Integrated Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 20:31
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/01/30
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/03/31


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.