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Spark Infrastructure Group

DB:02S
Snowflake Description

Second-rate dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
02S
DB
A$3B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Spark Infrastructure Group is a publicly owned investment manager. The last earnings update was 42 days ago. More info.


Add to Portfolio Compare Print
  • Spark Infrastructure Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Spark Infrastructure Group has significant price volatility in the past 3 months.
02S Share Price and Events
7 Day Returns
0.4%
DB:02S
0.2%
Europe Electric Utilities
-0.6%
DE Market
1 Year Returns
-20.9%
DB:02S
-2.6%
Europe Electric Utilities
-20.9%
DE Market
02S Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Spark Infrastructure Group (02S) 0.4% -11.2% -15.1% -20.9% -33.5% -22.1%
Europe Electric Utilities 0.2% -18.2% -13.1% -2.6% 19.9% -3%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • 02S underperformed the Electric Utilities industry which returned -2.6% over the past year.
  • 02S matched the Germany Market (-20.9%) over the past year.
Price Volatility
02S
Industry
5yr Volatility vs Market

02S Value

 Is Spark Infrastructure 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 Spark Infrastructure 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 Spark Infrastructure Group.

DB:02S Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 4%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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

Calculation of Discount Rate/ Cost of Equity for DB:02S
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.25
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.245 (1 + (1- 30%) (33.04%))
0.532
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.8 * 5.44%)
3.96%

Discounted Cash Flow Calculation for DB:02S using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Spark Infrastructure 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:02S DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 3.96%)
2020 185.50 Analyst x2 178.43
2021 210.50 Analyst x2 194.76
2022 227.00 Analyst x1 202.02
2023 237.77 Est @ 4.74% 203.54
2024 245.38 Est @ 3.2% 202.06
2025 250.60 Est @ 2.13% 198.49
2026 254.04 Est @ 1.37% 193.54
2027 256.18 Est @ 0.84% 187.73
2028 257.39 Est @ 0.47% 181.43
2029 257.94 Est @ 0.21% 174.89
Present value of next 10 years cash flows A$1,916.00
DB:02S DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$257.94 × (1 + -0.39%) ÷ (3.96% – -0.39%)
A$5,903.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$5,903.75 ÷ (1 + 3.96%)10
A$4,002.97
DB:02S Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,916.00 + A$4,002.97
A$5,918.97
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$5,918.97 / 1,721.72
A$3.44
DB:02S Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:02S represents 0.55396x of ASX:SKI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.55396x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 3.44 x 0.55396
€1.90
Value per share (EUR) From above. €1.90
Current discount Discount to share price of €1.08
= -1 x (€1.08 - €1.90) / €1.90
43.1%

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

Current Discount
Amount off the current price Spark Infrastructure Group is available for.
Intrinsic value
43%
Share price is €1.08 vs Future cash flow value of €1.9
Current Discount Checks
For Spark Infrastructure Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Spark Infrastructure Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Spark Infrastructure 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 Spark Infrastructure Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Spark Infrastructure Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:02S PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in AUD A$0.05
ASX:SKI Share Price ** ASX (2020-04-06) in AUD A$1.96
Europe Electric Utilities Industry PE Ratio Median Figure of 76 Publicly-Listed Electric Utilities Companies 10.33x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Spark Infrastructure Group.

DB:02S PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 1.96 ÷ 0.05

41.68x

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

  • Spark Infrastructure Group is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • Spark Infrastructure Group is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Spark Infrastructure Group's expected growth come at a high price?
Raw Data
DB:02S PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 41.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-25.9%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 37 Publicly-Listed Electric Utilities Companies 1.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

DB:02S PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 41.68x ÷ -25.9%

-1.61x

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

  • Spark Infrastructure Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Spark Infrastructure Group's assets?
Raw Data
DB:02S PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in AUD A$0.96
ASX:SKI Share Price * ASX (2020-04-06) in AUD A$1.96
Europe Electric Utilities Industry PB Ratio Median Figure of 87 Publicly-Listed Electric Utilities Companies 0.76x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:02S PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.96 ÷ 0.96

2.03x

* Primary Listing of Spark Infrastructure Group.

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

  • Spark Infrastructure Group is overvalued based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Spark Infrastructure 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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Spark Infrastructure Group has a total score of 2/6, 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.

02S Future Performance

 How is Spark Infrastructure Group expected to perform in the next 1 to 3 years based on estimates from 10 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
-25.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Spark Infrastructure Group expected to grow at an attractive rate?
  • Spark Infrastructure Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Spark Infrastructure Group's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Spark Infrastructure Group's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:02S Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:02S Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -25.9%
DB:02S Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -15.1%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
DB:02S Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:02S Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 211
2023-12-31 217
2022-12-31 181 221 40 5
2021-12-31 177 221 42 5
2020-12-31 226 219 77 5
2020-04-06
DB:02S Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-12-31 272 214 79
2019-09-30 273 203 -11
2019-06-30 273 193 -102
2019-03-31 280 194 -99
2018-12-31 288 195 -97
2018-09-30 292 191 1
2018-06-30 297 187 98
2018-03-31 291 187 93
2017-12-31 285 186 89
2017-09-30 270 205 84
2017-06-30 255 225 78
2017-03-31 250 233 80

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Spark Infrastructure Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Spark Infrastructure Group's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:02S 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 10 Analyst Estimates (S&P Global) See Below

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

DB:02S Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 0.03 0.09 0.00 6.00
2021-12-31 0.02 0.04 0.00 6.00
2020-12-31 0.05 0.10 0.03 6.00
2020-04-06
DB:02S Past Financials Data
Date (Data in AUD Millions) EPS *
2019-12-31 0.05
2019-09-30 -0.01
2019-06-30 -0.06
2019-03-31 -0.06
2018-12-31 -0.06
2018-09-30 0.00
2018-06-30 0.06
2018-03-31 0.06
2017-12-31 0.05
2017-09-30 0.05
2017-06-30 0.05
2017-03-31 0.05

*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.
  • Spark Infrastructure Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Spark Infrastructure 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 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.
Spark Infrastructure Group has a total score of 0/6, 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.

02S Past Performance

  How has Spark Infrastructure 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 Spark Infrastructure Group's growth in the last year to its industry (Electric Utilities).
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.
  • Spark Infrastructure Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Spark Infrastructure Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Spark Infrastructure Group has become profitable in the last year making it difficult to compare the Europe Electric Utilities industry average.
Earnings and Revenue History
Spark Infrastructure 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 Spark Infrastructure Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:02S Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 272.49 79.14 16.17
2019-09-30 272.57 -11.44 16.03
2019-06-30 272.65 -102.02 14.13
2019-03-31 280.30 -99.37 14.08
2018-12-31 287.96 -96.72 15.79
2018-09-30 292.26 0.59 12.80
2018-06-30 296.57 97.90 9.81
2018-03-31 290.78 93.27 11.14
2017-12-31 285.00 88.64 12.48
2017-09-30 270.23 83.52 13.08
2017-06-30 255.45 78.40 13.69
2017-03-31 249.68 79.74 12.49
2016-12-31 243.92 81.08 11.29
2016-09-30 258.14 90.75 11.24
2016-06-30 272.36 100.41 11.19
2016-03-31 271.48 94.22 9.99
2015-12-31 270.61 88.02 8.79
2015-09-30 260.46 83.17 9.87
2015-06-30 250.31 78.32 10.94
2015-03-31 269.53 103.23 10.72
2014-12-31 288.75 128.13 10.50
2014-09-30 309.27 134.78 9.69
2014-06-30 329.78 141.42 8.89
2014-03-31 320.42 134.93 8.52
2013-12-31 311.05 128.44 8.15
2013-09-30 306.85 144.79 8.67
2013-06-30 302.65 161.15 9.20

*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.
  • Spark Infrastructure Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Spark Infrastructure Group used its assets more efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Spark Infrastructure Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Spark Infrastructure 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 Electric Utilities 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.
Spark Infrastructure Group 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.

02S Health

 How is Spark Infrastructure 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 Spark Infrastructure Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Spark Infrastructure Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Spark Infrastructure Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Spark Infrastructure 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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0x 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 Spark Infrastructure Group Company Filings, last reported 3 months ago.

DB:02S Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,638.41 1,112.24 31.40
2019-09-30 1,638.41 1,112.24 31.40
2019-06-30 1,640.33 1,062.55 86.61
2019-03-31 1,640.33 1,062.55 86.61
2018-12-31 1,805.83 1,061.76 134.34
2018-09-30 1,805.83 1,061.76 134.34
2018-06-30 2,087.56 1,061.75 119.28
2018-03-31 2,087.56 1,061.75 119.28
2017-12-31 2,076.76 1,061.74 117.29
2017-09-30 2,076.76 1,061.74 117.29
2017-06-30 2,106.61 1,061.73 100.58
2017-03-31 2,106.61 1,061.73 100.58
2016-12-31 2,137.28 1,061.72 100.99
2016-09-30 2,137.28 1,061.72 100.99
2016-06-30 2,060.36 1,061.71 47.35
2016-03-31 2,060.36 1,061.71 47.35
2015-12-31 2,156.36 1,265.13 18.28
2015-09-30 2,156.36 1,265.13 18.28
2015-06-30 1,889.45 925.85 141.25
2015-03-31 1,889.45 925.85 141.25
2014-12-31 1,845.57 925.20 124.44
2014-09-30 1,845.57 925.20 124.44
2014-06-30 1,832.42 925.83 89.51
2014-03-31 1,832.42 925.83 89.51
2013-12-31 1,632.92 836.83 33.04
2013-09-30 1,632.92 836.83 33.04
2013-06-30 1,570.05 862.97 25.08
  • Spark Infrastructure Group's level of debt (67.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (50.1% vs 67.9% today).
  • Debt is not well covered by operating cash flow (19.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Spark Infrastructure 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. Spark Infrastructure Group has a total score of 0/6, 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.

02S Dividends

 What is Spark Infrastructure 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
7.67%
Current annual income from Spark Infrastructure Group dividends. Estimated to be 6.72% next year.
If you bought €2,000 of Spark Infrastructure Group shares you are expected to receive €153 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?
  • Spark Infrastructure Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.69%).
  • Spark Infrastructure Group's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
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:02S 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 10 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:02S Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.13 1.00
2023-12-31 0.12 1.00
2022-12-31 0.13 10.00
2021-12-31 0.13 12.00
2020-12-31 0.14 12.00
2020-04-06
DB:02S Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2020-02-24 0.150 7.668
2019-02-25 0.160 7.209
2018-08-27 0.160 6.959
2018-02-26 0.153 6.630
2017-08-28 0.153 6.096
2017-02-27 0.145 5.768
2016-08-22 0.145 6.288
2016-02-22 0.120 5.335
2015-08-24 0.120 6.239
2015-02-23 0.115 5.883
2014-08-25 0.115 5.831
2014-02-24 0.110 6.103
2013-08-26 0.110 6.692
2013-02-25 0.105 6.057
2012-08-27 0.105 6.320
2012-02-27 0.100 6.718
2011-08-26 0.095 7.334
2011-02-22 0.135 11.217
2010-08-23 0.136 12.053
2010-02-26 0.136 11.324
2009-08-24 0.136 10.898

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 Spark Infrastructure Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.3x coverage).
X
Income/ dividend checks
We assess Spark Infrastructure Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Spark Infrastructure Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Spark Infrastructure Group has a total score of 3/6, see the detailed checks below.


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

02S Management

 What is the CEO of Spark Infrastructure 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
Rick Francis
COMPENSATION A$1,644,771
AGE 50
TENURE AS CEO 7.9 years
CEO Bio

Mr. Richard F. Francis, also known as Rick, BComm, MBA, CA, MAICD, GAICD, FAICD, has been Chief Executive Officer and Managing Director of Spark Infrastructure Group since May 31, 2012. Mr. Francis has been the Chief Executive Officer and Managing Director of Spark Infrastructure Re Limited since May 31, 2012. He has been Managing Director of Francis Vienne Ltd since 2011. He is a chartered accountant with 15 years’ experience in Australia and the UK. Mr. Francis served as the Chief Financial Officer of Myriad Group AG from May 24, 2013 to December 10, 2015. Mr. Francis served as the Chief Financial Officer of Day Software Holding AG from September 15, 2008 to 2011 and also served as its Member of Management Board. He served as Chief Financial Officer of Spark Infrastructure Group from February 2009 to May 31, 2012. Mr. Francis served as the Chief Financial Officer of SA Power Networks and APA Group (formerly, Australian Pipeline Trust) from August 1, 2005 to December 30, 2008 where he was responsible for all financial matters of APA, including accounting and financial reporting, financial compliance and governance, taxation and treasury. He joined APA from Origin Energy, where he served as Group Financial Controller for 5 1/2 years. Prior to that, Mr. Francis was at Boral and with Deloitte, both in Australia and the UK. He qualified as a Chartered Accountant with Deloitte and Touche. Mr. Francis served as Chief Financial Officer of Celona Technologies. Prior to joining Celona, he served as Senior Director of Finance, EMEA for Interwoven from 2004 to 2008. He held senior finance positions with Novell, Gillette and Duracell. He served as the Chairman of TransGrid until April 1, 2016. He has been Deputy Chairman of TransGrid since April 1, 2016. He serves as Executive Director of Spark Infrastructure Group. He has been a Director of SA Power Networks since June 1, 2012 and VPN since 2009. He serves as a Director of Citipower I Pty Ltd., Powercor Network Services Pty Ltd., Powercor Australia Ltd., CitiPower Pty Ltd. and Victoria Power Networks Pty Limited. He serves as a Non-Executive Director of ETSA Utilities Finance Pty Ltd. and Victoria Power Networks (Finance) Pty Limited. He serves as a Director on subsidiary companies within the APA group. He was appointed Chair of NSW Electricity Networks Operations (TransGrid) in December 2015 and has served as Deputy Chair since June 2016. He served as a Director at Myriad Group AG from April 29, 2013 to August 15, 2013. Mr. Francis is a Member of the Institute of Chartered Accountants in Australia. He holds a Masters of Business Administration from Macquarie Graduate School of Management and a BA in Commerce from University of NSW. Mr. Francis holds a Bachelor of Arts Degree in Economics from the University of Manchester.

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

Average tenure of the Spark Infrastructure Group management team in years:

4.5
Average Tenure
  • The tenure for the Spark Infrastructure Group management team is about average.
Management Team

Rick Francis

TITLE
MD, CEO & Executive Director
COMPENSATION
A$2M
AGE
50
TENURE
7.9 yrs

Gerard Dover

TITLE
Chief Financial Officer
COMPENSATION
A$523K
TENURE
0.5 yrs

Linda Assatoury

TITLE
Head of Investor Relations

Alexandra Finley

TITLE
General Counsel & Company Secretary
COMPENSATION
A$766K
TENURE
11.6 yrs

Sally McMahon

TITLE
Head of Economic Regulation & Energy Policy
TENURE
1.2 yrs

Anthony Marriner

TITLE
Head of Renewables
Board of Directors Tenure

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

3.9
Average Tenure
59
Average Age
  • The tenure for the Spark Infrastructure Group board of directors is about average.
Board of Directors

Doug McTaggart

TITLE
Independent Chairman
COMPENSATION
A$303K
AGE
66
TENURE
3.9 yrs

Rick Francis

TITLE
MD, CEO & Executive Director
COMPENSATION
A$2M
AGE
50

Karen Lee Penrose

TITLE
Independent Director
COMPENSATION
A$170K
AGE
59
TENURE
5.5 yrs

Greg Martin

TITLE
Independent Director
COMPENSATION
A$152K
AGE
59
TENURE
3.3 yrs

Andy Fay

TITLE
Independent Director
COMPENSATION
A$150K
AGE
54
TENURE
10.1 yrs

Miles George

TITLE
Independent Director
COMPENSATION
A$29K
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Spark Infrastructure Group individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Mar 20 Sell Maple-Brown Abbott Limited Company 17. Mar 20 24. Mar 20 -3,105,770 €1.07 €-3,136,000
26. Mar 20 Buy Maple-Brown Abbott Limited Company 16. Mar 20 23. Mar 20 1,019,202 €1.05 €1,020,815
22. Mar 20 Buy Richard Francis Individual 16. Mar 20 16. Mar 20 182,999 €0.98 €178,968
17. Mar 20 Sell Maple-Brown Abbott Limited Company 28. Feb 20 09. Mar 20 -538,352 €1.19 €-638,490
17. Mar 20 Buy Maple-Brown Abbott Limited Company 03. Mar 20 11. Mar 20 3,849,992 €1.19 €4,558,732
13. Mar 20 Buy Douglas McTaggart Individual 13. Mar 20 13. Mar 20 55,000 €0.99 €54,324
02. Mar 20 Sell Maple-Brown Abbott Limited Company 27. Feb 20 27. Feb 20 -2,856,026 €1.26 €-3,594,438
02. Mar 20 Buy Maple-Brown Abbott Limited Company 26. Feb 20 26. Feb 20 350,000 €1.24 €434,084
27. Feb 20 Buy Maple-Brown Abbott Limited Company 28. Oct 19 25. Feb 20 17,670,654 €1.25 €22,123,773
20. Dec 19 Buy Miles George Individual 19. Dec 19 19. Dec 19 100,000 €1.33 €133,303
28. Nov 19 Sell Lazard Asset Management LLC Company 01. Oct 19 14. Nov 19 -7,644,190 €0.76 €-5,814,609
28. Nov 19 Buy Lazard Asset Management LLC Company 01. Oct 19 26. Nov 19 15,372,918 €1.15 €17,670,415
02. Oct 19 Sell Lazard Asset Management LLC Company 09. Jan 18 05. Jul 19 -27,712,781 €1.38 €-38,272,886
02. Oct 19 Buy Lazard Asset Management LLC Company 13. Dec 17 30. Sep 19 51,279,865 €1.42 €72,583,771
25. Sep 19 Sell Rare Infrastructure Limited Company 01. Nov 18 23. Sep 19 -85,701,172 €1.38 €-118,001,070
25. Sep 19 Buy Rare Infrastructure Limited Company 29. Oct 18 29. Aug 19 34,509,170 €1.40 €48,358,974
25. Sep 19 Sell Legg Mason, Inc. Company 30. May 19 13. Sep 19 -8,245,241 €1.48 €-12,188,742
25. Sep 19 Buy Legg Mason, Inc. Company 30. May 19 23. Sep 19 169,596 €1.41 €239,084
11. Sep 19 Buy Nikko Asset Management Co., Ltd. Company 09. May 19 09. Sep 19 85,335,333 €1.46 €124,283,627
11. Sep 19 Sell Credit Suisse, Investment Banking and Securities Investments Company 04. Sep 19 05. Sep 19 -888,159 €1.42 €-1,235,186
11. Sep 19 Buy Credit Suisse, Investment Banking and Securities Investments Company 04. Sep 19 05. Sep 19 413,606 €1.35 €556,651
09. Sep 19 Sell Credit Suisse, Investment Banking and Securities Investments Company 06. May 19 03. Sep 19 -10,030,605 €1.52 €-14,445,091
09. Sep 19 Buy Credit Suisse, Investment Banking and Securities Investments Company 06. May 19 03. Sep 19 20,187,544 €1.59 €28,761,335
09. Sep 19 Buy MultiConcept Fund Management S.A. Company 28. May 19 28. May 19 32,672 €1.45 €47,401
09. Sep 19 Buy Credit Suisse Asset Management (Switzerland) Company 28. Jun 19 28. Jun 19 18,803 €1.50 €28,154
31. Jul 19 Sell Magellan Asset Management Limited Company 09. Apr 19 10. Jul 19 -5,164,030 €1.49 €-7,716,483
31. Jul 19 Buy Magellan Asset Management Limited Company 01. Apr 19 29. Jul 19 6,795,631 €1.47 €10,003,226
12. Jul 19 Sell Magellan Asset Management Limited Company 20. May 19 10. Jul 19 -5,009,398 €1.51 €-7,561,106
12. Jul 19 Buy Magellan Asset Management Limited Company 10. May 19 04. Jul 19 3,987,930 €1.53 €6,098,522
08. May 19 Buy Magellan Asset Management Limited Company 08. Jan 19 06. May 19 5,032,457 €1.42 €7,164,453
07. May 19 Sell Investors Mutual Limited Company 02. May 19 03. May 19 -1,112,641 €1.41 €-1,566,087
07. May 19 Buy Investors Mutual Limited Company 26. Mar 19 03. May 19 169,831 €1.43 €239,658
X
Management checks
We assess Spark Infrastructure 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. Spark Infrastructure 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.

02S News

Simply Wall St News

02S Company Info

Description

Spark Infrastructure Group is a publicly owned investment manager. The firm invests in the regulated utility infrastructure markets across the globe. Spark Infrastructure Group is based in Sydney, Australia.

Details
Name: Spark Infrastructure Group
02S
Exchange: DB
Founded:
A$1,896,939,009
1,721,715,525
Website: http://www.sparkinfrastructure.com
Address: Spark Infrastructure Group
225 George Street,
Level 29,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX SKI Stapled Securities Australian Securities Exchange AU AUD 01. Mar 2007
OTCPK SFDP.F Stapled Securities Pink Sheets LLC US USD 01. Mar 2007
DB 02S Stapled Securities Deutsche Boerse AG DE EUR 01. Mar 2007
CHIA SKI Stapled Securities Chi-X Australia AU AUD 01. Mar 2007
Number of employees
Current staff
Staff numbers
5,305
Spark Infrastructure Group employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 22:34
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/02/24
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.