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Morgan Sindall Group

BATS-CHIXE:MGNSL
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MGNSL
BATS-CHIXE
£553M
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Morgan Sindall Group plc operates as a construction and regeneration company in the United Kingdom. The last earnings update was 7 days ago. More info.


Add to Portfolio Compare Print
  • Morgan Sindall Group has significant price volatility in the past 3 months.
MGNSL Share Price and Events
7 Day Returns
10.7%
BATS-CHIXE:MGNSL
7.1%
GB Construction
5.3%
GB Market
1 Year Returns
-1.1%
BATS-CHIXE:MGNSL
-30.4%
GB Construction
-21.5%
GB Market
MGNSL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Morgan Sindall Group (MGNSL) 10.7% -27.3% -26.5% -1.1% 17.7% 52.8%
GB Construction 7.1% -11.5% -19.6% -30.4% -55.5% -54.4%
GB Market 5.3% -6.5% -25.2% -21.5% -22.4% -21.9%
1 Year Return vs Industry and Market
  • MGNSL outperformed the Construction industry which returned -30.4% over the past year.
  • MGNSL outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.5% over the past year.
Price Volatility
MGNSL
Industry
5yr Volatility vs Market

Value

 Is Morgan Sindall 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 Morgan Sindall 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 Morgan Sindall Group.

BATS-CHIXE:MGNSL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
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 BATS-CHIXE:MGNSL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.889 (1 + (1- 19%) (10.79%))
0.978
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.978 * 6.07%)
6.47%

Discounted Cash Flow Calculation for BATS-CHIXE:MGNSL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Morgan Sindall 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.

BATS-CHIXE:MGNSL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.47%)
2020 25.20 Analyst x1 23.67
2021 73.77 Analyst x3 65.08
2022 93.10 Analyst x1 77.15
2023 107.15 Est @ 15.09% 83.40
2024 118.64 Est @ 10.72% 86.73
2025 127.73 Est @ 7.66% 87.71
2026 134.79 Est @ 5.52% 86.94
2027 140.22 Est @ 4.03% 84.94
2028 144.39 Est @ 2.98% 82.16
2029 147.63 Est @ 2.24% 78.90
Present value of next 10 years cash flows £756.00
BATS-CHIXE:MGNSL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £147.63 × (1 + 0.53%) ÷ (6.47% – 0.53%)
£2,500.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £2,500.56 ÷ (1 + 6.47%)10
£1,336.49
BATS-CHIXE:MGNSL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £756.00 + £1,336.49
£2,092.49
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £2,092.49 / 45.14
£46.35
BATS-CHIXE:MGNSL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:MGNSL represents 0.96687x of LSE:MGNS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.96687x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 46.35 x 0.96687
£44.82
Value per share (GBP) From above. £44.82
Current discount Discount to share price of £12.26
= -1 x (£12.26 - £44.82) / £44.82
72.6%

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

Current Discount
Amount off the current price Morgan Sindall Group is available for.
Intrinsic value
>50%
Share price is £12.26 vs Future cash flow value of £44.82
Current Discount Checks
For Morgan Sindall Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Morgan Sindall Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Morgan Sindall 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 Morgan Sindall Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Morgan Sindall Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:MGNSL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in GBP £1.58
LSE:MGNS Share Price ** LSE (2020-04-08) in GBP £12.68
United Kingdom of Great Britain and Northern Ireland Construction Industry PE Ratio Median Figure of 17 Publicly-Listed Construction Companies 7.77x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 13.27x

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

** Primary Listing of Morgan Sindall Group.

BATS-CHIXE:MGNSL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 12.68 ÷ 1.58

8.03x

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

  • Morgan Sindall Group is overvalued based on earnings compared to the GB Construction industry average.
  • Morgan Sindall Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Morgan Sindall Group's expected growth come at a high price?
Raw Data
BATS-CHIXE:MGNSL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
6.8%per year
United Kingdom of Great Britain and Northern Ireland Construction Industry PEG Ratio Median Figure of 9 Publicly-Listed Construction Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 513 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:MGNSL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.03x ÷ 6.8%

1.17x

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

  • Morgan Sindall Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Morgan Sindall Group's assets?
Raw Data
BATS-CHIXE:MGNSL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in GBP £8.79
LSE:MGNS Share Price * LSE (2020-04-08) in GBP £12.68
United Kingdom of Great Britain and Northern Ireland Construction Industry PB Ratio Median Figure of 19 Publicly-Listed Construction Companies 1.09x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.13x
BATS-CHIXE:MGNSL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 12.68 ÷ 8.79

1.44x

* Primary Listing of Morgan Sindall Group.

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

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Morgan Sindall Group expected to grow at an attractive rate?
  • Morgan Sindall Group's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Morgan Sindall Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Morgan Sindall Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:MGNSL Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:MGNSL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 6.8%
BATS-CHIXE:MGNSL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 0.7%
United Kingdom of Great Britain and Northern Ireland Construction Industry Earnings Growth Rate Market Cap Weighted Average 16%
United Kingdom of Great Britain and Northern Ireland Construction Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
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 2.5%

*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
BATS-CHIXE:MGNSL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:MGNSL Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,257 126 92 1
2022-12-31 3,035 130 86 4
2021-12-31 2,957 116 77 5
2020-12-31 2,853 33 70 5
2020-04-09
BATS-CHIXE:MGNSL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-12-31 3,071 49 71
2019-09-30 3,021 53 71
2019-06-30 2,970 58 71
2019-03-31 2,971 66 69
2018-12-31 2,972 74 67
2018-09-30 2,940 71 63
2018-06-30 2,908 69 58
2018-03-31 2,850 51 55
2017-12-31 2,793 34 52
2017-09-30 2,757 67 48
2017-06-30 2,721 101 43
2017-03-31 2,641 140 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Morgan Sindall Group's earnings are expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
  • Morgan Sindall Group's revenue is expected to grow by 0.7% 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
BATS-CHIXE:MGNSL 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 5 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:MGNSL Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.97 1.97 1.97 1.00
2022-12-31 1.80 1.80 1.80 1.00
2021-12-31 1.66 1.73 1.58 2.00
2020-12-31 1.47 1.66 1.27 2.00
2020-04-09
BATS-CHIXE:MGNSL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-12-31 1.58
2019-09-30 1.58
2019-06-30 1.57
2019-03-31 1.54
2018-12-31 1.50
2018-09-30 1.41
2018-06-30 1.31
2018-03-31 1.25
2017-12-31 1.19
2017-09-30 1.08
2017-06-30 0.98
2017-03-31 0.91

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

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

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

Past Performance

  How has Morgan Sindall 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 Morgan Sindall Group's growth in the last year to its industry (Construction).
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.
  • Morgan Sindall Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Morgan Sindall Group's 1-year earnings growth is less than its 5-year average (6.6% vs 42.9%)
  • Morgan Sindall Group's earnings growth has not exceeded the GB Construction industry average in the past year (6.6% vs 6.6%).
Earnings and Revenue History
Morgan Sindall 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 Morgan Sindall Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:MGNSL 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 3,071.30 71.20 249.20
2019-09-30 3,020.80 70.90 245.60
2019-06-30 2,970.30 70.60 242.00
2019-03-31 2,970.90 68.70 238.50
2018-12-31 2,971.50 66.80 235.00
2018-09-30 2,939.75 62.50 226.70
2018-06-30 2,908.00 58.20 218.40
2018-03-31 2,850.35 55.30 214.15
2017-12-31 2,792.70 52.40 209.90
2017-09-30 2,756.75 47.70 215.30
2017-06-30 2,720.80 43.00 220.70
2017-03-31 2,641.20 39.90 211.50
2016-12-31 2,561.60 36.80 202.30
2016-09-30 2,471.20 30.50 194.65
2016-06-30 2,380.80 24.20 187.00
2016-03-31 2,382.75 7.15 185.50
2015-12-31 2,384.70 -9.90 184.00
2015-09-30 2,379.00 -12.35 178.60
2015-06-30 2,373.30 -14.80 173.20
2015-03-31 2,296.55 1.65 166.75
2014-12-31 2,219.80 18.10 160.30
2014-09-30 2,147.10 21.10 154.35
2014-06-30 2,074.40 24.10 148.40
2014-03-31 2,084.65 19.60 148.45
2013-12-31 2,094.90 15.10 148.50
2013-09-30 2,080.50 16.50 148.75
2013-06-30 2,066.10 17.90 149.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Morgan Sindall Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Morgan Sindall Group used its assets less efficiently than the GB Construction industry average last year based on Return on Assets.
  • Morgan Sindall Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Morgan Sindall 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 Construction 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.
Morgan Sindall 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.

Health

 How is Morgan Sindall 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 Morgan Sindall Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Morgan Sindall Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Morgan Sindall Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Morgan Sindall Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Morgan Sindall Group 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 Morgan Sindall Group Company Filings, last reported 3 months ago.

BATS-CHIXE:MGNSL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 396.80 0.00 192.70
2019-09-30 396.80 0.00 192.70
2019-06-30 360.40 1.60 115.50
2019-03-31 360.40 1.60 115.50
2018-12-31 346.60 10.20 217.20
2018-09-30 346.60 10.20 217.20
2018-06-30 312.90 43.00 139.90
2018-03-31 312.90 43.00 139.90
2017-12-31 316.60 27.80 221.20
2017-09-30 316.60 27.80 221.20
2017-06-30 286.90 15.20 112.30
2017-03-31 286.90 15.20 112.30
2016-12-31 277.20 19.80 228.50
2016-09-30 277.20 19.80 228.50
2016-06-30 253.70 53.70 90.10
2016-03-31 253.70 53.70 90.10
2015-12-31 249.00 57.80 115.70
2015-09-30 249.00 57.80 115.70
2015-06-30 241.70 92.50 84.90
2015-03-31 241.70 92.50 84.90
2014-12-31 267.90 31.90 87.60
2014-09-30 267.90 31.90 87.60
2014-06-30 262.50 38.30 72.40
2014-03-31 262.50 38.30 72.40
2013-12-31 257.00 23.10 92.80
2013-09-30 257.00 23.10 92.80
2013-06-30 247.30 37.60 77.30
  • Morgan Sindall Group has no debt.
  • Morgan Sindall Group has no debt compared to 5 years ago when it was 12.2%.
  • Morgan Sindall Group has no debt, it does not need to be covered by operating cash flow.
  • Morgan Sindall Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Morgan Sindall 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. Morgan Sindall Group 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 Morgan Sindall 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
0%
Current annual income from Morgan Sindall Group dividends. Estimated to be 4.03% next year.
If you bought £2,000 of Morgan Sindall Group 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 Morgan Sindall Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Morgan Sindall Group'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
BATS-CHIXE:MGNSL 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 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Construction Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 5.4%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 575 Stocks 5.5%
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 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.8%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:MGNSL Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.71 1.00
2022-12-31 0.58 4.00
2021-12-31 0.50 5.00
2020-12-31 0.43 5.00
2020-04-09
BATS-CHIXE:MGNSL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-04-02 0.000 0.000
2020-02-20 0.000 0.000
2019-03-21 0.530 4.022
2019-02-21 0.530 4.110
2018-05-04 0.450 3.510
2017-05-04 0.350 2.672
2016-02-23 0.290 3.742
2015-05-07 0.270 3.506
2014-03-27 0.270 3.616
2014-02-18 0.270 3.560
2013-02-19 0.270 4.082
2012-08-06 0.420 7.043
2012-02-21 0.420 6.406
2011-03-04 0.420 6.819
2011-02-22 0.420 6.343
2010-08-09 0.420 6.340
2010-03-01 0.420 7.627
2010-02-23 0.420 7.438

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

  • Unable to perform a dividend volatility check as Morgan Sindall Group has not reported any payouts.
  • Unable to verify if Morgan Sindall Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Morgan Sindall Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Morgan Sindall Group has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.9x coverage).
X
Income/ dividend checks
We assess Morgan Sindall Group'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 Morgan Sindall Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Morgan Sindall Group has a total score of 1/6, 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 Morgan Sindall 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
John Morgan
COMPENSATION £2,353,000
AGE 63
TENURE AS CEO 7.4 years
CEO Bio

Mr. John Christopher Morgan Founded Morgan Sindall Group plc and has been its Chief Executive Officer since November 6, 2012. Mr. Morgan served as the Chief Executive Officer of Morgan Sindall Plc from 1994 to February 18, 2003. Mr. Morgan founded Morgan Lovell in 1977. He has a wealth of experience in the property sector and as a developer of successful businesses. He has been the Chairman of Morgan Sindall PLC since 2000. He has been Interim Chairman at Newfound NV since September 2008. He served as Non-Executive Chairman of Genetix Group PLC until August 4, 2008. Mr. Morgan serves as Senior Non Executive Director at Newfound NV. He has been a Director of Morgan Sindall PLC since October 28, 1994. He served as Director of Newfound NV since October 11, 2006. He served as Director of Genetix Group PLC until August 4, 2008. Mr. Morgan is a chartered surveyor with an MBA.

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

Average tenure of the Morgan Sindall Group management team in years:

7.2
Average Tenure
  • The average tenure for the Morgan Sindall Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

John Morgan

TITLE
Founder
COMPENSATION
£2M
AGE
63
TENURE
7.4 yrs

Steve Crummett

TITLE
Finance Director & Director
COMPENSATION
£2M
AGE
54
TENURE
7.2 yrs

Helen Mason

TITLE
General Counsel

Catherine Beaumont

TITLE
Communications Manager

Camilla Aitchison

TITLE
Director of People

Matt Crompton

TITLE
Managing Director of Urban Regeneration

Les Turner

TITLE
Head of Supply Chain Utility Services - Construction and Infrastructure Division

Pat Boyle

TITLE
Managing Director of Construction & Infrastructure’s construction Business
TENURE
6.3 yrs

Chris Booth

TITLE
Managing Director of Fit Out
TENURE
7.3 yrs

Martin Lubieniecki

TITLE
Managing Director of BakerHicks (design)
Board of Directors Tenure

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

3.5
Average Tenure
58.5
Average Age
  • The tenure for the Morgan Sindall Group board of directors is about average.
Board of Directors

Michael Findlay

TITLE
Chairman
COMPENSATION
£170K
AGE
51
TENURE
3.5 yrs

John Morgan

TITLE
Founder
COMPENSATION
£2M
AGE
63
TENURE
25.5 yrs

Steve Crummett

TITLE
Finance Director & Director
COMPENSATION
£2M
AGE
54
TENURE
7.2 yrs

Malcolm Cooper

TITLE
Non-Executive Director
COMPENSATION
£58K
AGE
60
TENURE
4.4 yrs

Tracey Killen

TITLE
Non-Executive Director
COMPENSATION
£46K
AGE
57
TENURE
2.9 yrs

David Lowden

TITLE
Senior Independent Director
COMPENSATION
£16K
AGE
62
TENURE
1.3 yrs

Jen Tippin

TITLE
Non-Executive Director
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • Morgan Sindall Group individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
27. Feb 20 Sell John Morgan Individual 26. Feb 20 26. Feb 20 -220,000 £18.84 £-4,145,636
11. Nov 19 Sell John Morgan Individual 08. Nov 19 08. Nov 19 -300,000 £13.64 £-4,092,000
X
Management checks
We assess Morgan Sindall 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. Morgan Sindall Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

Morgan Sindall Group plc operates as a construction and regeneration company in the United Kingdom. The company operates in six divisions: Construction & Infrastructure, Fit Out, Property Services, Partnership Housing, Urban Regeneration, and Investments. The Construction & Infrastructure division offers infrastructure services to highways, rail, aviation, energy, water, and nuclear markets; and construction services in education, healthcare, defence, commercial, industrial, leisure, and retail markets. This division also offers multi-disciplinary design and engineering consultancy services. The Fit Out division specializes in fit out and refurbishment projects in commercial, central, and local government offices, as well as education, and retail banking markets. This division also provides office interior design and build services. The Property Services division offers planned maintenance and responsive repair services to social housing and the public sector. The Partnership Housing division engages in the mixed-tenure development; building and developing homes for open market; sale and affordable rent; design and build contracting; and planned maintenance and refurbishment activities. The Urban Regeneration division works with landowners and public sector partners to transform the urban landscape through the development of multi-phase sites and mixed-use regeneration, including residential, commercial, retail, and leisure facilities. The Investments division provides opportunities across construction and regeneration activities. The company was incorporated in 1953 and is headquartered in London, the United Kingdom.

Details
Name: Morgan Sindall Group plc
MGNSL
Exchange: BATS-CHIXE
Founded: 1953
£553,437,450
45,141,717
Website: http://www.morgansindall.com
Address: Morgan Sindall Group plc
Kent House,
14-17 Market Place,
London,
Greater London, W1W 8AJ,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MGNS Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
BATS-CHIXE MGNSL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
6,700
Morgan Sindall Group employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 19:36
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/04/02
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.