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John Menzies

DB:B3N
Snowflake Description

Very undervalued with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B3N
DB
£62M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

John Menzies plc provides distribution and aviation services in the United Kingdom, the United States, and internationally. The last earnings update was 21 days ago. More info.


Add to Portfolio Compare Print
  • John Menzies has significant price volatility in the past 3 months.
B3N Share Price and Events
7 Day Returns
-6.1%
DB:B3N
6.6%
DE Infrastructure
7.3%
DE Market
1 Year Returns
-
DB:B3N
-42.7%
DE Infrastructure
-17.7%
DE Market
B3N Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
John Menzies (B3N) -6.1% -77.7% -85% - - -
DE Infrastructure 6.6% -32.4% -48.6% -42.7% -41.2% -17.3%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • No trading data on B3N.
  • No trading data on B3N.
Price Volatility
B3N
Industry
5yr Volatility vs Market

B3N Value

 Is John Menzies 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 John Menzies 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 John Menzies.

DB:B3N Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
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:B3N
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.728 (1 + (1- 19%) (773.51%))
3.876
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 6.07%)
11.75%

Discounted Cash Flow Calculation for DB:B3N using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for John Menzies 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:B3N DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 11.75%)
2020 24.70 Analyst x1 22.10
2021 28.60 Analyst x1 22.90
2022 82.00 Analyst x1 58.76
2023 100.00 Est @ 21.95% 64.12
2024 115.24 Est @ 15.25% 66.13
2025 127.41 Est @ 10.56% 65.42
2026 136.67 Est @ 7.27% 62.80
2027 143.47 Est @ 4.97% 58.99
2028 148.29 Est @ 3.36% 54.56
2029 151.61 Est @ 2.24% 49.92
Present value of next 10 years cash flows £525.00
DB:B3N DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £151.61 × (1 + -0.39%) ÷ (11.75% – -0.39%)
£1,243.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,243.99 ÷ (1 + 11.75%)10
£409.58
DB:B3N Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £525.00 + £409.58
£934.58
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £934.58 / 83.26
£11.22
DB:B3N Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:B3N represents 1.10414x of LSE:MNZS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.10414x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 11.22 x 1.10414
€12.39
Value per share (EUR) From above. €12.39
Current discount Discount to share price of €0.83
= -1 x (€0.83 - €12.39) / €12.39
93.3%

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

Current Discount
Amount off the current price John Menzies is available for.
Intrinsic value
>50%
Share price is €0.83 vs Future cash flow value of €12.39
Current Discount Checks
For John Menzies to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • John Menzies's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • John Menzies'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 John Menzies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are John Menzies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:B3N PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in GBP £0.11
LSE:MNZS Share Price ** LSE (2020-03-30) in GBP £0.75
Europe Infrastructure Industry PE Ratio Median Figure of 38 Publicly-Listed Infrastructure Companies 11.07x
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 John Menzies.

DB:B3N PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:MNZS Share Price ÷ EPS (both in GBP)

= 0.75 ÷ 0.11

6.93x

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

  • John Menzies is good value based on earnings compared to the Europe Infrastructure industry average.
  • John Menzies is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does John Menzies's expected growth come at a high price?
Raw Data
DB:B3N PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
35.1%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 18 Publicly-Listed Infrastructure Companies 1.18x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:B3N PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.93x ÷ 35.1%

0.2x

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

  • John Menzies is good value based on expected growth next year.
Price based on value of assets
What value do investors place on John Menzies's assets?
Raw Data
DB:B3N PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in GBP £1.04
LSE:MNZS Share Price * LSE (2020-03-30) in GBP £0.75
Germany Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 0.96x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:B3N PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:MNZS Share Price ÷ Book Value per Share (both in GBP)

= 0.75 ÷ 1.04

0.72x

* Primary Listing of John Menzies.

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

  • John Menzies is good value based on assets compared to the DE Infrastructure industry average.
X
Value checks
We assess John Menzies'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. John Menzies 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.

B3N Future Performance

 How is John Menzies expected to perform in the next 1 to 3 years based on estimates from 2 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
35.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is John Menzies expected to grow at an attractive rate?
  • John Menzies's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • John Menzies's earnings growth is expected to exceed the Germany market average.
  • John Menzies's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:B3N Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:B3N Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 35.1%
DB:B3N Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 2.8%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Europe Infrastructure 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:B3N Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:B3N Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,466 1
2022-12-31 1,452 102 33 2
2021-12-31 1,405 106 32 2
2020-12-31 1,360 94 22 2
2020-03-31
DB:B3N Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-12-31 1,326 72 9
2019-06-30 1,314 44 2
2019-03-31 1,302 36 7
2018-12-31 1,291 29 12
2018-09-30 1,290 12
2018-06-30 1,289 55 12
2018-03-31 1,281 48 6
2017-12-31 1,274 41 0
2017-09-30 1,456 2
2017-06-30 1,638 12 4
2017-03-31 1,810 18 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • John Menzies's earnings are expected to grow significantly at over 20% yearly.
  • John Menzies's revenue is expected to grow by 2.8% 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:B3N 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 2 Analyst Estimates (S&P Global) See Below

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

DB:B3N Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.39 0.39 0.39 1.00
2021-12-31 0.37 0.37 0.37 1.00
2020-12-31 0.27 0.27 0.27 1.00
2020-03-31
DB:B3N Past Financials Data
Date (Data in GBP Millions) EPS *
2019-12-31 0.11
2019-06-30 0.02
2019-03-31 0.08
2018-12-31 0.15
2018-09-30 0.14
2018-06-30 0.14
2018-03-31 0.07
2017-12-31 0.00
2017-09-30 0.02
2017-06-30 0.05
2017-03-31 0.08

*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 John Menzies will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess John Menzies'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.
John Menzies 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.

B3N Past Performance

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

DB:B3N 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 1,325.60 9.10 0.40
2019-06-30 1,313.70 1.70 871.10
2019-03-31 1,302.35 6.95 871.30
2018-12-31 1,291.00 12.20 871.50
2018-09-30 1,290.05 12.10 869.85
2018-06-30 1,289.10 12.00 868.20
2018-03-31 1,281.35 6.05 868.40
2017-12-31 1,273.60 0.10 868.60
2017-09-30 1,455.90 1.90 725.85
2017-06-30 1,638.20 3.70 583.10
2017-03-31 1,810.35 6.10 583.05
2016-12-31 1,982.50 8.50 583.00
2016-09-30 1,941.80 7.10 545.50
2016-06-30 1,901.10 5.70 508.00
2016-03-31 1,900.15 7.90 508.05
2015-12-31 1,899.20 10.10 508.10
2015-09-30 1,905.90 8.50 529.00
2015-06-30 1,912.60 6.90 549.90
2015-03-31 1,907.75 10.40 549.85
2014-12-31 1,902.90 13.90 549.80
2014-09-30 1,900.45 20.45 513.25
2014-06-30 1,898.00 27.00 476.70
2014-03-31 1,901.70 28.70 476.85
2013-12-31 1,905.40 30.40 477.00
2013-09-30 1,909.85 25.55 463.10
2013-06-30 1,914.30 20.70 449.20

*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.
  • John Menzies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • John Menzies used its assets less efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • John Menzies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess John Menzies'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 Infrastructure 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.
John Menzies 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.

B3N Health

 How is John Menzies'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 John Menzies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • John Menzies's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • John Menzies's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of John Menzies'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 covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

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

DB:B3N Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 87.30 306.90 90.50
2019-06-30 85.50 306.60 92.50
2019-03-31 85.50 306.60 92.50
2018-12-31 101.30 279.20 78.00
2018-09-30 101.30 279.20 78.00
2018-06-30 113.10 309.10 65.70
2018-03-31 113.10 309.10 65.70
2017-12-31 132.50 288.70 72.80
2017-09-30 132.50 288.70 72.80
2017-06-30 123.40 301.60 67.00
2017-03-31 123.40 301.60 67.00
2016-12-31 125.20 104.10 38.90
2016-09-30 125.20 104.10 38.90
2016-06-30 72.10 162.60 46.20
2016-03-31 72.10 162.60 46.20
2015-12-31 71.20 156.00 34.10
2015-09-30 71.20 156.00 34.10
2015-06-30 77.90 160.50 37.20
2015-03-31 77.90 160.50 37.20
2014-12-31 69.70 143.90 32.80
2014-09-30 69.70 143.90 32.80
2014-06-30 83.80 141.80 25.20
2014-03-31 83.80 141.80 25.20
2013-12-31 96.30 141.20 33.80
2013-09-30 96.30 141.20 33.80
2013-06-30 92.40 139.50 27.70
  • John Menzies's level of debt (351.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (205.8% vs 351.5% today).
  • Debt is well covered by operating cash flow (23.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess John Menzies'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. John Menzies has a total score of 1/6, 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.

B3N Dividends

 What is John Menzies'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
0%
Current annual income from John Menzies dividends. Estimated to be 0% next year.
If you bought €2,000 of John Menzies shares you are expected to receive €0 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?
  • Unable to evaluate John Menzies's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate John Menzies's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:B3N 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 2 Analyst Estimates (S&P Global) See Below
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 6.7%
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:B3N Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.00 1.00
2022-12-31 0.00 2.00
2021-12-31 0.00 2.00
2020-12-31 0.00 2.00
2020-03-31
DB:B3N Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-10 0.000 0.000
2019-05-17 0.205 4.927
2018-08-14 0.205 3.897
2018-05-18 0.205 3.272
2017-03-28 0.185 2.701
2017-03-08 0.185 3.008
2016-04-05 0.168 3.049
2016-03-08 0.168 3.606
2015-08-18 0.100 2.445
2015-04-07 0.162 3.584
2015-03-10 0.162 4.282
2014-03-05 0.265 5.320
2013-03-05 0.252 3.399
2012-03-06 0.240 3.848
2011-03-08 0.190 3.691
2011-03-07 0.190 4.289
2010-08-19 0.100 2.189
2010-03-09 0.080 2.149
2009-08-19 0.000 0.000

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

  • Unable to perform a dividend volatility check as John Menzies has not reported any payouts.
  • Unable to verify if John Menzies's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of John Menzies's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as John Menzies has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of John Menzies's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess John Menzies'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 John Menzies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. John Menzies has a total score of 0/6, see the detailed checks below.


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

B3N Management

 What is the CEO of John Menzies'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
Giles Wilson
COMPENSATION £1,921,000
AGE 46
TENURE AS CEO 1 years
CEO Bio

Mr. Giles Wilson has been the Executive Director at John Menzies since June 6, 2016 respectively. Mr. Wilson has been Chief Executive Officer of John Menzies plc since June 6, 2019 served as its Interim Chief Executive Officer since March 12, 2019 until June 6, 2019. He has great financial acumen and a deep knowledge of the Aviation Services market to his role on the Board. He has worked with the John Menzies Group since 2011 in a variety of senior roles. He served as Finance Director of Menzies Aviation and Senior Vice President of the John Menzies Group’s African, Middle East and Indian Operations. Mr. Wilson served as an Executive Vice President of Finance at Menzies Aviation plc since April 2011 and served as its Member of Management Board. He served as Head of UK Commercial Finance of Gallaher Group Ltd. since March 2003. He joined Gallaher in 2000. He worked for 5 years as Finance Director for Commercial Estates Group Ltd. From 2000 to 2006, he was working at Gallaher Group Plc, where in the first three years he was in the business development function working on a number of successful acquisitions and latterly as Finance Director for Gallaher UK, the largest division accounting for half Gallaher Group Plc profits. He held senior finance positions at Gallaher Group PLC. He served as Chief Financial Officer at John Menzies plc since June 1, 2016 until December 1, 2019. Mr. Wilson is a chartered accountant qualified with PricewaterhouseCoopers in 1999 and holds a degree in Civil Engineering. He is Director of various Group companies.

CEO Compensation
  • Giles's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Giles's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the John Menzies management team in years:

2.1
Average Tenure
52
Average Age
  • The tenure for the John Menzies management team is about average.
Management Team

Giles Wilson

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
46
TENURE
1 yrs

John F. Geddes

TITLE
Corporate Affairs Director
COMPENSATION
£2M
AGE
50
TENURE
14.2 yrs

Alvaro Gomez-Reino

TITLE
CFO & Director
TENURE
0.3 yrs

Mervyn Walker

TITLE
Chief Operating Officer
AGE
58
TENURE
0.4 yrs

Claire Hall

TITLE
Group Executive Vice President of People

Philip Harnden

TITLE
Executive Vice President of Commercial - Menzies Aviation
AGE
54

Andy Lord

TITLE
Executive Vice President of Europe
TENURE
3.3 yrs

Greg Michael

TITLE
Managing Director of Menzies Distribution
TENURE
3.2 yrs

Terry Trainor

TITLE
Senior Vice-President of US Operations - Menzies Aviation

Paul Walton

TITLE
Senior Vice President of Sales & Commercial Operations – Americas
Board of Directors Tenure

Average tenure and age of the John Menzies board of directors in years:

2
Average Tenure
56.5
Average Age
  • The average tenure for the John Menzies board of directors is less than 3 years, this suggests a new board.
Board of Directors

Philipp Joeinig

TITLE
Independent Chairman
COMPENSATION
£43K
TENURE
0.7 yrs

Giles Wilson

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
46
TENURE
3.7 yrs

David N. Garman

TITLE
Deputy Chairman & Senior Independent Director
COMPENSATION
£52K
AGE
67
TENURE
0.7 yrs

John F. Geddes

TITLE
Corporate Affairs Director
COMPENSATION
£2M
AGE
50
TENURE
3.3 yrs

Alvaro Gomez-Reino

TITLE
CFO & Director
TENURE
0.3 yrs

Paul Baines

TITLE
Non-Executive Director
COMPENSATION
£46K
AGE
63
TENURE
3.7 yrs

Silla Maizey

TITLE
Non-Executive Director
COMPENSATION
£46K
TENURE
5.8 yrs

Christian Kappelhoff-Wulff

TITLE
Non-Executive Director
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by John Menzies individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Mar 20 Buy David N. Garman Individual 10. Mar 20 10. Mar 20 20,000 €2.90 €58,095
12. Mar 20 Buy David N. Garman Individual 10. Mar 20 10. Mar 20 20,000 €2.90 €58,095
24. Sep 19 Buy Philipp Joeinig Individual 23. Sep 19 23. Sep 19 1,200,000 €4.41 €5,297,133
08. Jul 19 Buy Lakestreet Capital Partners AG Company 05. Jul 19 05. Jul 19 60,000 €4.23 €253,608
08. Jul 19 Buy John F. Geddes Individual 05. Jul 19 05. Jul 19 4,869 €4.41 €21,449
08. Jul 19 Buy Giles Wilson Individual 05. Jul 19 05. Jul 19 2,554 €4.55 €11,090
08. Jul 19 Buy David N. Garman Individual 05. Jul 19 05. Jul 19 13,700 €4.07 €55,768
X
Management checks
We assess John Menzies'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. John Menzies 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.

B3N News

Simply Wall St News

B3N Company Info

Description

John Menzies plc provides distribution and aviation services in the United Kingdom, the United States, and internationally. The Distribution segment offers newspaper and magazine distribution services. This segment also provides marketing and logistics services. The Aviation segment offers ground handling and cargo services; cargo forwarding services; and fuelling and fuel farm management services. John Menzies plc was founded in 1833 and is based in Edinburgh, the United Kingdom.

Details
Name: John Menzies plc
B3N
Exchange: DB
Founded: 1833
£70,126,136
83,264,855
Website: http://www.johnmenziesplc.com
Address: John Menzies plc
2 Lochside Avenue,
Edinburgh Park,
Edinburgh,
EH12 9DJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MNZS Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK MZTL.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB B3N Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE MNZSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
32,000
John Menzies employees.
Industry
Airport Services
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 00:57
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/10
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.