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Samuel Heath & Sons

AIM:HSM
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HSM
AIM
£6M
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Samuel Heath & Sons plc designs, manufactures, and markets various products in the builders’ hardware and bathroom field in the United Kingdom and internationally. The last earnings update was 143 days ago. More info.


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HSM Share Price and Events
7 Day Returns
0%
AIM:HSM
-0%
GB Building
-2.4%
GB Market
1 Year Returns
-27.5%
AIM:HSM
-13.3%
GB Building
-25.9%
GB Market
HSM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Samuel Heath & Sons (HSM) 0% -12.3% -10.7% -27.5% -17.4% 11.1%
GB Building -0% -21.7% -28.9% -13.3% -24.1% -2.9%
GB Market -2.4% -18% -29.1% -25.9% -26.6% -26.1%
1 Year Return vs Industry and Market
  • HSM underperformed the Building industry which returned -13.3% over the past year.
  • HSM underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.9% over the past year.
Price Volatility
HSM
Industry
5yr Volatility vs Market

Value

 Is Samuel Heath & Sons 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 Samuel Heath & Sons 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 Samuel Heath & Sons.

AIM:HSM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 AIM:HSM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Building Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.051 (1 + (1- 19%) (2.08%))
1.046
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.046 * 6.07%)
6.88%

Discounted Cash Flow Calculation for AIM:HSM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Samuel Heath & Sons 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.

AIM:HSM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.88%)
2020 0.84 Est @ 4.34% 0.79
2021 0.87 Est @ 3.2% 0.76
2022 0.89 Est @ 2.4% 0.73
2023 0.90 Est @ 1.84% 0.69
2024 0.92 Est @ 1.45% 0.66
2025 0.93 Est @ 1.17% 0.62
2026 0.94 Est @ 0.98% 0.59
2027 0.94 Est @ 0.84% 0.55
2028 0.95 Est @ 0.75% 0.52
2029 0.96 Est @ 0.68% 0.49
Present value of next 10 years cash flows £6.00
AIM:HSM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £0.96 × (1 + 0.53%) ÷ (6.88% – 0.53%)
£15.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £15.16 ÷ (1 + 6.88%)10
£7.80
AIM:HSM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £6.00 + £7.80
£13.80
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £13.80 / 2.53
£5.44
AIM:HSM Discount to Share Price
Calculation Result
Value per share (GBP) From above. £5.44
Current discount Discount to share price of £2.50
= -1 x (£2.50 - £5.44) / £5.44
54.1%

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

Current Discount
Amount off the current price Samuel Heath & Sons is available for.
Intrinsic value
>50%
Share price is £2.5 vs Future cash flow value of £5.44
Current Discount Checks
For Samuel Heath & Sons to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Samuel Heath & Sons's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Samuel Heath & Sons'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 Samuel Heath & Sons's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Samuel Heath & Sons's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:HSM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.28
AIM:HSM Share Price ** AIM (2020-04-06) in GBP £2.5
United Kingdom of Great Britain and Northern Ireland Building Industry PE Ratio Median Figure of 10 Publicly-Listed Building Companies 10.55x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.31x

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

** Primary Listing of Samuel Heath & Sons.

AIM:HSM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:HSM Share Price ÷ EPS (both in GBP)

= 2.5 ÷ 0.28

8.8x

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

  • Samuel Heath & Sons is good value based on earnings compared to the GB Building industry average.
  • Samuel Heath & Sons is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Samuel Heath & Sons's expected growth come at a high price?
Raw Data
AIM:HSM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Building Industry PEG Ratio Median Figure of 7 Publicly-Listed Building Companies 0.43x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 517 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Samuel Heath & Sons, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Samuel Heath & Sons's assets?
Raw Data
AIM:HSM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £1.85
AIM:HSM Share Price * AIM (2020-04-06) in GBP £2.5
United Kingdom of Great Britain and Northern Ireland Building Industry PB Ratio Median Figure of 12 Publicly-Listed Building Companies 0.94x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.06x
AIM:HSM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:HSM Share Price ÷ Book Value per Share (both in GBP)

= 2.5 ÷ 1.85

1.35x

* Primary Listing of Samuel Heath & Sons.

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

  • Samuel Heath & Sons is overvalued based on assets compared to the GB Building industry average.
X
Value checks
We assess Samuel Heath & Sons'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 Building 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 Building industry average (and greater than 0)? (1 check)
  5. Samuel Heath & Sons has a total score of 4/6, 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 Samuel Heath & Sons expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Samuel Heath & Sons has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
12.8%
Expected Building industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Samuel Heath & Sons expected to grow at an attractive rate?
  • Unable to compare Samuel Heath & Sons's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Samuel Heath & Sons's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Samuel Heath & Sons's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AIM:HSM Future Growth Rates Data Sources
Data Point Source Value (per year)
United Kingdom of Great Britain and Northern Ireland Building Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
United Kingdom of Great Britain and Northern Ireland Building Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.6%

*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
AIM:HSM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:HSM Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 14 1 1
2019-06-30 14 1 1
2019-03-31 14 1 1
2018-12-31 14 1 1
2018-09-30 14 1 1
2018-06-30 14 1 1
2018-03-31 14 1 1
2017-12-31 14 1 1
2017-09-30 14 1 1
2017-06-30 13 1 1
2017-03-31 13 1 1
2016-12-31 13 1 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Samuel Heath & Sons is high growth as no earnings estimate data is available.
  • Unable to determine if Samuel Heath & Sons is high growth as no revenue estimate data is available.
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
AIM:HSM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Samuel Heath & Sons Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:HSM Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.28
2019-06-30 0.29
2019-03-31 0.29
2018-12-31 0.29
2018-09-30 0.29
2018-06-30 0.34
2018-03-31 0.39
2017-12-31 0.39
2017-09-30 0.39
2017-06-30 0.40
2017-03-31 0.40
2016-12-31 0.40

*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 Samuel Heath & Sons will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Samuel Heath & Sons is trading at Samuel Heath & Sons'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Samuel Heath & Sons's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Samuel Heath & Sons's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Samuel Heath & Sons'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
Samuel Heath & Sons 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.

Past Performance

  How has Samuel Heath & Sons 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 Samuel Heath & Sons's growth in the last year to its industry (Building).
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.
  • Samuel Heath & Sons's year on year earnings growth rate has been positive over the past 5 years.
  • Samuel Heath & Sons's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Samuel Heath & Sons's 1-year earnings growth is negative, it can't be compared to the GB Building industry average.
Earnings and Revenue History
Samuel Heath & Sons'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 Samuel Heath & Sons Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:HSM Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 14.09 0.72 5.62
2019-06-30 13.99 0.73 5.60
2019-03-31 13.89 0.74 5.57
2018-12-31 13.80 0.74 5.72
2018-09-30 13.70 0.74 5.87
2018-06-30 14.03 0.86 5.92
2018-03-31 14.35 0.98 5.98
2017-12-31 14.07 0.99 5.82
2017-09-30 13.80 0.99 5.67
2017-06-30 13.42 1.00 5.56
2017-03-31 13.05 1.01 5.44
2016-12-31 13.11 1.01 5.39
2016-09-30 13.16 1.00 5.35
2016-06-30 12.87 0.88 5.23
2016-03-31 12.58 0.77 5.12
2015-12-31 12.22 0.72 5.05
2015-09-30 11.86 0.67 4.98
2015-06-30 11.53 0.53 4.94
2015-03-31 11.20 0.39 4.89
2014-12-31 11.02 0.33 4.86
2014-09-30 10.85 0.26 4.83
2014-06-30 10.92 0.35 4.82
2014-03-31 10.98 0.44 4.82
2013-12-31 10.74 0.53 4.72
2013-09-30 10.51 0.62 4.62
2013-06-30 10.29 0.52 4.58

*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.
  • Samuel Heath & Sons has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Samuel Heath & Sons used its assets less efficiently than the GB Building industry average last year based on Return on Assets.
  • Samuel Heath & Sons's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Samuel Heath & Sons'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 Building 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.
Samuel Heath & Sons has a total score of 1/6, see the detailed checks below.

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

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

Health

 How is Samuel Heath & Sons'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 Samuel Heath & Sons's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Samuel Heath & Sons is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Samuel Heath & Sons's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Samuel Heath & Sons'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.
  • Samuel Heath & Sons has no debt, it does not need to be covered by short term assets.
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 Samuel Heath & Sons Company Filings, last reported 6 months ago.

AIM:HSM Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 4.68 0.00 3.10
2019-06-30 4.68 0.00 3.10
2019-03-31 4.39 0.00 3.15
2018-12-31 4.39 0.00 3.15
2018-09-30 4.90 0.00 2.81
2018-06-30 4.90 0.00 2.81
2018-03-31 4.74 0.00 2.37
2017-12-31 4.74 0.00 2.37
2017-09-30 4.60 0.00 2.17
2017-06-30 4.60 0.00 2.17
2017-03-31 4.36 0.00 2.08
2016-12-31 4.36 0.00 2.08
2016-09-30 -0.90 0.00 2.27
2016-06-30 -0.90 0.00 2.27
2016-03-31 2.70 0.00 2.08
2015-12-31 2.70 0.00 2.08
2015-09-30 3.39 0.00 1.89
2015-06-30 3.39 0.00 1.89
2015-03-31 2.09 0.00 1.65
2014-12-31 2.09 0.00 1.65
2014-09-30 3.54 0.00 1.79
2014-06-30 3.54 0.00 1.79
2014-03-31 4.25 0.00 2.03
2013-12-31 4.25 0.00 2.03
2013-09-30 4.56 0.00 1.85
2013-06-30 4.56 0.00 1.85
  • Samuel Heath & Sons has no debt.
  • Samuel Heath & Sons has not taken on any debt in the past 5 years.
  • Samuel Heath & Sons has no debt, it does not need to be covered by operating cash flow.
  • Samuel Heath & Sons has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Samuel Heath & Sons'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. Samuel Heath & Sons has a total score of 6/6, 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 Samuel Heath & Sons'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
4.95%
Current annual income from Samuel Heath & Sons dividends.
If you bought £2,000 of Samuel Heath & Sons shares you are expected to receive £99 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?
  • Samuel Heath & Sons's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.66%).
  • Samuel Heath & Sons's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.4%).
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
AIM:HSM 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 0 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Building Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 2.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 587 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.4%

Industry and Market average data is calculated daily.

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

AIM:HSM Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-11-06 0.124 4.514
2019-07-11 0.124 4.517
2018-09-25 0.124 3.399
2018-07-12 0.124 2.584
2018-01-15 0.124 2.644
2017-09-19 0.124 2.575
2017-07-12 0.124 3.326
2016-09-06 0.124 4.233
2016-07-13 0.124 4.444
2015-07-31 0.118 4.524
2015-07-15 0.118 5.222
2014-09-25 0.118 5.042
2014-07-16 0.118 3.876
2013-07-17 0.118 4.187
2012-07-12 0.118 3.459
2012-07-11 0.118 3.357
2011-07-07 0.118 3.259
2010-07-08 0.118 2.951
2009-11-24 0.110 2.627
2009-07-09 0.173 4.184
2009-06-01 0.173 4.110

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Samuel Heath & Sons's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Samuel Heath & Sons's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Samuel Heath & Sons afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Samuel Heath & Sons has a total score of 2/6, 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 Samuel Heath & Sons'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
David Pick
COMPENSATION £275,000
TENURE AS CEO 22.3 years
CEO Bio

Mr. David J. Pick has been the Managing Director and Executive Director of Samuel Heath & Sons PLC since 1998 and 1995 respectively.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the Samuel Heath & Sons management team in years:

14.9
Average Tenure
  • The average tenure for the Samuel Heath & Sons management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Sam Heath

TITLE
Executive Chairman
COMPENSATION
£50K

David Pick

TITLE
MD & Executive Director
COMPENSATION
£275K
TENURE
22.3 yrs

Simon George Latham

TITLE
Financial Director & Executive Director
COMPENSATION
£144K
AGE
54
TENURE
3.2 yrs

Martyn Whieldon

TITLE
Deputy MD
COMPENSATION
£212K
AGE
47
TENURE
14.9 yrs

Alan Cogzell

TITLE
Member of Group Management Board

Rolando Guselli

TITLE
Member of Group Management Board

John Park

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the Samuel Heath & Sons board of directors in years:

5.8
Average Tenure
56.5
Average Age
  • The tenure for the Samuel Heath & Sons board of directors is about average.
Board of Directors

Sam Heath

TITLE
Executive Chairman
COMPENSATION
£50K

David Pick

TITLE
MD & Executive Director
COMPENSATION
£275K
TENURE
25.3 yrs

Anthony Buttanshaw

TITLE
Non-Executive Deputy Chairman & Senior Independent Director
COMPENSATION
£19K
AGE
64

Simon George Latham

TITLE
Financial Director & Executive Director
COMPENSATION
£144K
AGE
54
TENURE
3.3 yrs

Martyn Whieldon

TITLE
Deputy MD
COMPENSATION
£212K
AGE
47
TENURE
9.8 yrs

Martin Green

TITLE
Non-Executive Director
COMPENSATION
£12K
AGE
64
TENURE
8.4 yrs

Ross Martin Andrews

TITLE
Non-Executive Director
COMPENSATION
£11K
AGE
59
TENURE
2.6 yrs

Martin Harrison

TITLE
Director
AGE
46
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
18. Dec 19 Buy Martin Harrison Individual 17. Dec 19 17. Dec 19 1,000 £3.25 £3,250
X
Management checks
We assess Samuel Heath & Sons'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. Samuel Heath & Sons 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

How Good Is Samuel Heath & Sons PLC (LON:HSM), When It Comes To ROE?

See our latest analysis for Samuel Heath & Sons How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Samuel Heath & Sons: 17% = UK£738k ÷ UK£4.4m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Combining Samuel Heath & Sons's Debt And Its 17% Return On Equity But It's Just One Metric Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders.

Simply Wall St -

Don’t Buy Samuel Heath & Sons PLC (LON:HSM) Until You Understand Its ROCE

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Samuel Heath & Sons: 0.12 = UK£1.4m ÷ (UK£14m - UK£2.0m) (Based on the trailing twelve months to March 2019.) Therefore, Samuel Heath & Sons has an ROCE of 12%. … What Are Current Liabilities, And How Do They Affect Samuel Heath & Sons's ROCE? … Samuel Heath & Sons has total assets of UK£14m and current liabilities of UK£2.0m.

Simply Wall St -

Imagine Owning Samuel Heath & Sons (LON:HSM) And Wondering If The 39% Share Price Slide Is Justified

That downside risk was realized by Samuel Heath & Sons PLC (LON:HSM) shareholders over the last year, as the share price declined 39%. … We've already covered Samuel Heath & Sons's share price action, but we should also mention its total shareholder return (TSR). … Its history of dividend payouts mean that Samuel Heath & Sons's TSR, which was a 37% drop over the last year, was not as bad as the share price return.

Simply Wall St -

Could Samuel Heath & Sons PLC's (LON:HSM) Investor Composition Influence The Stock Price?

Samuel Heath & Sons is not a large company by global standards. … View our latest analysis for Samuel Heath & Sons AIM:HSM Ownership Summary, June 14th 2019 What Does The Institutional Ownership Tell Us About Samuel Heath & Sons? … Insider Ownership Of Samuel Heath & Sons The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

Calculating The Fair Value Of Samuel Heath & Sons PLC (LON:HSM)

Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (£, Millions) £0.69 £0.66 £0.64 £0.63 £0.62 £0.62 £0.62 £0.63 £0.63 £0.64 Growth Rate Estimate Source Est @ -7.19% Est @ -4.67% Est @ -2.9% Est @ -1.66% Est @ -0.79% Est @ -0.19% Est @ 0.24% Est @ 0.53% Est @ 0.74% Est @ 0.89% Present Value (£, Millions) Discounted @ 8.56% £0.64 £0.56 £0.50 £0.45 £0.41 £0.38 £0.35 £0.33 £0.30 £0.28 Present Value of 10-year Cash Flow (PVCF)= £4.20m "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = UK£637k × (1 + 1.2%) ÷ (8.6% – 1.2%) = UK£8.8m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = £UK£8.8m ÷ ( 1 + 8.6%)10 = £3.87m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is £8.07m.

Simply Wall St -

Is It Worth Buying Samuel Heath & Sons PLC (LON:HSM) For Its 3.6% Dividend Yield?

Dividend paying stocks like Samuel Heath & Sons PLC (LON:HSM) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … In this case, Samuel Heath & Sons likely looks attractive to investors, given its 3.6% dividend yield and a payment history of over ten years.

Simply Wall St -

A Note On Samuel Heath & Sons PLC's (LON:HSM) ROE and Debt To Equity

We'll use ROE to examine Samuel Heath & Sons PLC (LON:HSM), by way of a worked example. … Our data shows Samuel Heath & Sons has a return on equity of 15% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

If You Had Bought Samuel Heath & Sons (LON:HSM) Stock A Year Ago, You'd Be Sitting On A 26% Loss, Today

That downside risk was realized by Samuel Heath & Sons PLC (LON:HSM) shareholders over the last year, as the share price declined 26%. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Unfortunately Samuel Heath & Sons reported an EPS drop of 26% for the last year.

Simply Wall St -

Do You Like Samuel Heath & Sons PLC (LON:HSM) At This P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Samuel Heath & Sons PLC's (LON:HSM) P/E ratio and reflect on what it tells us about the company's share price. … Samuel Heath & Sons has a price to earnings ratio of 11.88, based on the last twelve months.

Simply Wall St -

Here's What We Think About Samuel Heath & Sons PLC's (LON:HSM) CEO Pay

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does David Pick's Compensation Compare With Similar Sized Companies. … According to our data, Samuel Heath & Sons PLC has a market capitalization of UK£9.4m, and pays its CEO total annual compensation worth UK£278k.

Simply Wall St -

Company Info

Description

Samuel Heath & Sons plc designs, manufactures, and markets various products in the builders’ hardware and bathroom field in the United Kingdom and internationally. The company offers bathroom products, such as thermostatic shower kits and sets; trim sets for thermostatic valves, diverters, and flow controls; concealed thermostatic showers; basin fillers, sets, mixers, and taps; bath and shower fillers and mixers; towel rings and rails; paper and tumbler holders; hooks; soap dispensers and holders; soap baskets; wall mounted toilet brushes, diverters, and side valves; framed mirrors; shower heads; body jets; bidet sprays; hand showers; braided and smooth hoses; wall brackets, outlets, and elbows; overhead shower arms; angle bushes; bath bosses; slider rails and rail kits; ceiling tubes for shower head; escucheon; and optional indices bath, hand shower, and shower head for lever, as well as body jets for lever and cross tops. It also provides architectural hardware products, including letter plates, box protectors, and flap covers; door knockers, knobs, levers, holders, catches, and stops; fasteners; casement and roller stays; pins; bell pushes; cylinder latch pull sets and pulls; door numerals; door chains; pull, sash, and lever handles; round, visible fix, and concealed fix roses; coin releases; thumb turns; escutcheon; push and back plates; surface, indicator, flush, and lever flush bolts; bolt backsets; security door bolts and bolt keys; cords; screw pulley with nylon wheels; sash hooks, lifts, pivots, screws, and stops; knot holders; light and dark wood cord handles; window espagnolette handles; cleat hooks; fanlight and trip catches; cupboard pulls and knobs; flush handle sets, spring catches, pulls, rings, and handles; button on plates; hat, coat, wardrobe and cabin hooks; desk stays; hasps and staples; counter flap catches; handrail brackets; and ventilators. The company was founded in 1820 and is headquartered in Birmingham, the United Kingdom.

Details
Name: Samuel Heath & Sons plc
HSM
Exchange: AIM
Founded: 1820
£6,335,805
2,534,322
Website: http://www.samuel-heath.com
Address: Samuel Heath & Sons plc
Cobden Works,
Leopold Street,
Birmingham,
West Midlands, B12 0UJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM HSM Ordinary Shares London Stock Exchange AIM Market GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
141
Samuel Heath & Sons employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 20:39
End of day share price update: 2020/04/06 00:00
Last earnings filing: 2019/11/15
Last earnings reported: 2019/09/30
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.