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Norcros

BATS-CHIXE:NXRl
Snowflake Description

Very undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NXRl
BATS-CHIXE
£103M
Market Cap
  1. Home
  2. GB
  3. Capital Goods
Company description

Norcros plc, together with its subsidiaries, engages in the development, manufacture, and marketing of bathroom and kitchen products in the United Kingdom and South Africa. The last earnings update was 145 days ago. More info.


Add to Portfolio Compare Print
  • Norcros has significant price volatility in the past 3 months.
NXRl Share Price and Events
7 Day Returns
-7.1%
BATS-CHIXE:NXRl
-1.6%
GB Building
0.1%
GB Market
1 Year Returns
-33.9%
BATS-CHIXE:NXRl
-10.8%
GB Building
-23.6%
GB Market
NXRl Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norcros (NXRl) -7.1% -41.5% -54.5% -33.9% -16.2% -27.4%
GB Building -1.6% -19.3% -26.3% -10.8% -22.8% -0.7%
GB Market 0.1% -15.5% -27% -23.6% -24.3% -23.5%
1 Year Return vs Industry and Market
  • NXRl underperformed the Building industry which returned -10.8% over the past year.
  • NXRl underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23.6% over the past year.
Price Volatility
NXRl
Industry
5yr Volatility vs Market

Value

 Is Norcros 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 Norcros 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 Norcros.

BATS-CHIXE:NXRl Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.1%
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:NXRl
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 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.081 (1 + (1- 19%) (90.39%))
1.585
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.58
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.585 * 6.07%)
10.15%

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

The calculations below outline how an intrinsic value for Norcros 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:NXRl DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 10.15%)
2020 13.10 Analyst x1 11.89
2021 17.56 Est @ 34.03% 14.47
2022 21.77 Est @ 23.98% 16.29
2023 25.46 Est @ 16.95% 17.29
2024 28.52 Est @ 12.02% 17.59
2025 30.96 Est @ 8.57% 17.34
2026 32.87 Est @ 6.16% 16.71
2027 34.34 Est @ 4.47% 15.85
2028 35.47 Est @ 3.29% 14.86
2029 36.35 Est @ 2.46% 13.82
Present value of next 10 years cash flows £156.00
BATS-CHIXE:NXRl DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £36.35 × (1 + 0.53%) ÷ (10.15% – 0.53%)
£379.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £379.84 ÷ (1 + 10.15%)10
£144.47
BATS-CHIXE:NXRl Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £156.00 + £144.47
£300.47
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £300.47 / 80.56
£3.73
BATS-CHIXE:NXRl Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:NXRl represents 0.99219x of LSE:NXR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99219x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 3.73 x 0.99219
£3.70
Value per share (GBP) From above. £3.70
Current discount Discount to share price of £1.27
= -1 x (£1.27 - £3.70) / £3.70
65.7%

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

Current Discount
Amount off the current price Norcros is available for.
Intrinsic value
>50%
Share price is £1.27 vs Future cash flow value of £3.7
Current Discount Checks
For Norcros to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Norcros's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Norcros'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 Norcros's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norcros's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:NXRl PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.22
LSE:NXR Share Price ** LSE (2020-04-06) in GBP £1.28
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 12.61x

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

** Primary Listing of Norcros.

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

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

= 1.28 ÷ 0.22

5.83x

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

  • Norcros is good value based on earnings compared to the GB Building industry average.
  • Norcros is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Norcros's expected growth come at a high price?
Raw Data
BATS-CHIXE:NXRl PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
14.2%per year
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 0.99x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.83x ÷ 14.2%

0.41x

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

  • Norcros is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Norcros's assets?
Raw Data
BATS-CHIXE:NXRl PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £1.66
LSE:NXR Share Price * LSE (2020-04-06) in GBP £1.28
United Kingdom of Great Britain and Northern Ireland Building Industry PB Ratio Median Figure of 12 Publicly-Listed Building Companies 0.95x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.11x
BATS-CHIXE:NXRl PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.28 ÷ 1.66

0.77x

* Primary Listing of Norcros.

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

  • Norcros is good value based on assets compared to the GB Building industry average.
X
Value checks
We assess Norcros'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. Norcros has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Norcros expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Norcros expected to grow at an attractive rate?
  • Norcros's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Norcros's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Norcros's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:NXRl Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:NXRl Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 14.2%
BATS-CHIXE:NXRl Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 4.5%
United Kingdom of Great Britain and Northern Ireland Building Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Building Industry Revenue Growth Rate Market Cap Weighted Average 2%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
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:NXRl Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:NXRl Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 385 23 1
2021-03-31 368 39 22 2
2020-04-07
2020-03-31 349 32 17 4
BATS-CHIXE:NXRl Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 350 37 18
2019-06-30 340 33 19
2019-03-31 331 29 19
2018-12-31 324 21 18
2018-09-30 318 13 16
2018-06-30 309 15 13
2018-03-31 300 18 10
2017-12-31 294 19 9
2017-09-30 287 20 8
2017-06-30 279 21 8
2017-03-31 271 23 9
2016-12-31 259 20 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norcros's earnings are expected to grow by 14.2% yearly, however this is not considered high growth (20% yearly).
  • Norcros's revenue is expected to grow by 4.5% 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:NXRl 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 2 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:NXRl Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 0.29 0.29 0.29 1.00
2021-03-31 0.27 0.27 0.27 1.00
2020-04-07
2020-03-31 0.21 0.25 0.19 3.00
BATS-CHIXE:NXRl Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.22
2019-06-30 0.23
2019-03-31 0.24
2018-12-31 0.23
2018-09-30 0.21
2018-06-30 0.18
2018-03-31 0.15
2017-12-31 0.14
2017-09-30 0.13
2017-06-30 0.13
2017-03-31 0.14
2016-12-31 0.18

*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.
  • Norcros is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Norcros'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.
Norcros has a total score of 3/6, see the detailed checks below.

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

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

Past Performance

  How has Norcros 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 Norcros'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.
  • Norcros's year on year earnings growth rate has been positive over the past 5 years.
  • Norcros's 1-year earnings growth is less than its 5-year average (7.3% vs 11.3%)
  • Norcros's earnings growth has exceeded the GB Building industry average in the past year (7.3% vs 2.5%).
Earnings and Revenue History
Norcros'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 Norcros Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:NXRl Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 349.60 17.60 68.00 3.90
2019-06-30 340.30 18.50 68.00 3.90
2019-03-31 331.00 19.40 68.00 3.90
2018-12-31 324.35 17.90 66.95 3.90
2018-09-30 317.70 16.40 65.90 3.90
2018-06-30 308.90 13.15 66.00 3.90
2018-03-31 300.10 9.90 66.10 3.90
2017-12-31 293.75 8.90 66.00 4.00
2017-09-30 287.40 7.90 65.90 4.10
2017-06-30 279.30 8.20 65.65 4.10
2017-03-31 271.20 8.50 65.40 4.10
2016-12-31 258.60 11.10 60.50 3.80
2016-09-30 246.00 13.70 55.60 3.50
2016-06-30 240.95 13.35 55.45 3.50
2016-03-31 235.90 13.00 55.30 3.50
2015-12-31 234.05 10.90 53.40 3.10
2015-09-30 232.20 8.80 51.50 2.70
2015-06-30 227.15 8.45 51.40 2.70
2015-03-31 222.10 8.10 51.30 2.70
2014-12-31 219.10 11.30 49.90 2.70
2014-09-30 216.10 14.50 48.50 2.70
2014-06-30 217.40 12.30 48.55 2.70
2014-03-31 218.70 10.10 48.60 2.70
2013-09-30 205.30 0.90 47.50 2.20
2013-06-30 202.85 3.15 47.45 2.20

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Norcros is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Norcros's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Norcros's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.7x 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 Norcros Company Filings, last reported 6 months ago.

BATS-CHIXE:NXRl Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 133.90 63.50 22.40
2019-06-30 133.90 63.50 22.40
2019-03-31 125.70 62.20 27.20
2018-12-31 125.70 62.20 27.20
2018-09-30 122.30 75.50 22.00
2018-06-30 122.30 75.50 22.00
2018-03-31 104.60 72.90 25.80
2017-12-31 104.60 72.90 25.80
2017-09-30 65.20 38.70 17.90
2017-06-30 65.20 38.70 17.90
2017-03-31 56.60 60.70 37.50
2016-12-31 56.60 60.70 37.50
2016-09-30 22.50 35.50 8.00
2016-06-30 22.50 35.50 8.00
2016-03-31 47.60 58.00 25.50
2015-12-31 47.60 58.00 25.50
2015-09-30 52.20 37.00 7.80
2015-06-30 52.20 37.00 7.80
2015-03-31 52.70 19.80 5.60
2014-12-31 52.70 19.80 5.60
2014-09-30 52.90 24.50 4.50
2014-06-30 52.90 24.50 4.50
2014-03-31 65.50 31.20 3.90
2013-09-30 56.40 34.40 5.70
2013-06-30 56.40 34.40 5.70
  • Norcros's level of debt (47.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (45% vs 47.4% today).
  • Debt is well covered by operating cash flow (57.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.3x coverage).
X
Financial health checks
We assess Norcros'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. Norcros has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Norcros'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
6.56%
Current annual income from Norcros dividends. Estimated to be 7.65% next year.
If you bought £2,000 of Norcros shares you are expected to receive £131 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?
  • Norcros's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.59%).
  • Norcros's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.08%).
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:NXRl Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Building Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 2.7%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 Stocks 5.6%
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 2.6%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:NXRl Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.10 2.00
2021-03-31 0.10 3.00
2020-04-07
2020-03-31 0.09 4.00
BATS-CHIXE:NXRl Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-06-25 0.084 3.780
2019-06-12 0.084 3.903
2018-07-25 0.078 3.852
2017-06-23 0.072 3.878
2017-06-14 0.072 4.118
2016-06-27 0.066 4.061
2016-06-14 0.066 3.549
2015-06-24 0.056 2.991
2015-06-18 0.056 3.078
2014-06-26 0.051 3.019
2014-06-19 0.051 2.679
2013-06-13 0.046 2.325
2012-06-21 0.042 3.113
2011-06-23 0.048 4.276
2010-11-18 0.024 1.891
2010-10-15 0.024 2.160
2009-11-12 0.000 0.000
2009-07-31 0.000 0.000

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

  • Whilst dividend payments have been stable, Norcros has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Norcros only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Norcros's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Norcros'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 Norcros afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norcros 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.

Management

 What is the CEO of Norcros'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
Nick Kelsall
COMPENSATION £950,316
AGE 62
TENURE AS CEO 9 years
CEO Bio

Mr. Nicholas P. Kelsall, also known as Nick, ACA has been the Chief Executive Officer at Norcros plc since April 1, 2011. Mr. Kelsall served as Group Finance Director of Norcros from October 1, 1996 to April 1, 2011. Mr. Kelsall joined Norcros as the Finance Director of its largest subsidiary, H & R Johnson Tiles Limited, in April 1993. He served in number of senior financial management positions with Touche Ross, Manchester and immediately prior to joining Norcros, with Waterford Wedgwood Group plc. In November 1999, pursuant to the MBO, he acquired an equity shareholding in Norcros. He has been a Director at Norcros plc since October 1, 1996. He studied at The University of Manchester, gaining a BA Honours in Economics, specialising in Accountancy and Business Finance. Following graduation he joined Chartered Accountants, Touche Ross, in Manchester, qualifying in 1982. Mr. Kelsall is a member of the faculties of Finance and Management and Corporate Finance of the Institute of Chartered Accountants in England and Wales.

CEO Compensation
  • Nick's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Nick'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 and age of the Norcros management team in years:

9.3
Average Tenure
58
Average Age
  • The average tenure for the Norcros management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Nick Kelsall

TITLE
Group CEO & Director
COMPENSATION
£950K
AGE
62
TENURE
9 yrs

Shaun Smith

TITLE
Group Finance Director & Director
COMPENSATION
£640K
AGE
58
TENURE
4 yrs

Richard Collins

TITLE
Group Counsel & Company Secretary
AGE
57
TENURE
6.8 yrs

Jim Williams

TITLE
Managing Director of Vado
TENURE
9.3 yrs

Stephen Dixon

TITLE
Managing Director of Johnson Tiles
TENURE
12.3 yrs

Thomas Willcocks

TITLE
Managing Director of Norcros SA (Pty) Ltd
TENURE
11.3 yrs

Richard Wallis

TITLE
Managing Director of Norcros Adhesives
TENURE
19.3 yrs

David Tutton

TITLE
Managing Director of Triton
TENURE
4.8 yrs

Nick McGrellis

TITLE
Managing Director of Croydex
TENURE
13.3 yrs

Charlie Soden

TITLE
Managing Director of Merlyn
Board of Directors Tenure

Average tenure and age of the Norcros board of directors in years:

6.8
Average Tenure
62
Average Age
  • The tenure for the Norcros board of directors is about average.
Board of Directors

Martin Towers

TITLE
Independent Chairman
AGE
66
TENURE
7.4 yrs

Nick Kelsall

TITLE
Group CEO & Director
COMPENSATION
£950K
AGE
62
TENURE
23.5 yrs

Shaun Smith

TITLE
Group Finance Director & Director
COMPENSATION
£640K
AGE
58
TENURE
4 yrs

David McKeith

TITLE
Senior Independent Director
AGE
67
TENURE
6.8 yrs

Alison Littley

TITLE
Non-Executive Director
AGE
57
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Norcros individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
11. Mar 20 Buy Martin Towers Individual 11. Mar 20 11. Mar 20 10,000 £1.93 £19,329
10. Mar 20 Buy Shaun Smith Individual 09. Mar 20 09. Mar 20 10,000 £1.98 £19,800
10. Mar 20 Buy Martin Towers Individual 09. Mar 20 09. Mar 20 20,000 £2.00 £39,993
06. Aug 19 Buy Nicholas Kelsall Individual 06. Aug 19 06. Aug 19 4,418 £2.09 £9,212
X
Management checks
We assess Norcros'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. Norcros 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

Norcros plc, together with its subsidiaries, engages in the development, manufacture, and marketing of bathroom and kitchen products in the United Kingdom and South Africa. The company manufactures and distributes electric, and mixer showers and accessories under the Triton brand name; shower enclosures and trays to the residential, commercial, and hospitality sectors under the Merlyn brand; taps, mixer showers, bathroom accessories, high end brassware, and valves under the Vado brand name; and accessories and furniture for the bathroom, such as toilet seats, wall-mounted cupboards, vanity units, shower rods, rails, and curtains to retail and trade customers under the Croydex brand name. It also offers kitchen taps, sinks, and hot water taps under the Abode brand name; ceramic wall and floor tiles under the Johnson Tiles brand name; and adhesives, grouts, and surface preparation products under the Norcros Adhesives brand name for fixing ceramic and porcelain tiles, mosaics, natural stones, and marbles. In addition, the company provides tile adhesives, pourable floor coverings, and tiling tools for various types of ceramic, porcelain, or natural stone tiles; and various products for the preparation of floors before the installation of hard and soft floor coverings, including primers, additives, patching and repair compounds, and screeds and self-levelling screeds, as well as waterproofing systems under the TAL brand name, as well as specialist plumbing materials under the House of Plumbing name. Further, it retails wall and floor tiles, adhesives, showers, sanitaryware, and bathroom fittings under the Tile Africa brand name. The company serves consumers, architects, designers, retailers, and wholesalers. Norcros plc was incorporated in 1999 and is headquartered in Wilmslow, the United Kingdom.

Details
Name: Norcros plc
NXRl
Exchange: BATS-CHIXE
Founded: 1999
£103,113,305
80,557,270
Website: http://www.norcros.com
Address: Norcros plc
Ladyfield House,
Station Road,
Wilmslow,
Cheshire, SK9 1BU,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE NXR Ordinary Shares London Stock Exchange GB GBP 16. Jul 2007
BATS-CHIXE NXRl Ordinary Shares BATS 'Chi-X Europe' GB GBP 16. Jul 2007
Number of employees
Current staff
Staff numbers
2,200
Norcros employees.
Industry
Building Products
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 21:17
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/04/07
Last earnings filing: 2019/11/14
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.