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Norish

AIM:NSH
Snowflake Description

Solid track record, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NSH
AIM
£21M
Market Cap
  1. Home
  2. GB
  3. Commercial Services
Company description

Norish Plc, together with its subsidiaries, provides temperature-controlled warehousing and logistics services to food manufacturers, importers, wholesalers, retailers, and distributors in the United Kingdom and Ireland. The last earnings update was 57 days ago. More info.


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NSH Share Price and Events
7 Day Returns
0.7%
AIM:NSH
0.8%
GB Commercial Services
-0.4%
GB Market
1 Year Returns
15.6%
AIM:NSH
17.6%
GB Commercial Services
4.5%
GB Market
NSH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norish (NSH) 0.7% -1.4% 19.5% 15.6% 54.9% 101.4%
GB Commercial Services 0.8% 1.4% 5.6% 17.6% 13.7% 10.6%
GB Market -0.4% 1.7% 4.7% 4.5% 6.9% 2.9%
1 Year Return vs Industry and Market
  • NSH underperformed the Commercial Services industry which returned 17.6% over the past year.
  • NSH outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 4.5% over the past year.
Price Volatility
NSH
Industry
5yr Volatility vs Market

Value

 Is Norish 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 Norish 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 Norish.

AIM:NSH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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:NSH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.66
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.66 (1 + (1- 19%) (49.75%))
0.951
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.951 * 6.65%)
7.55%

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

The calculations below outline how an intrinsic value for Norish 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:NSH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.55%)
2020 1.90 Analyst x1 1.77
2021 1.97 Est @ 3.63% 1.70
2022 2.03 Est @ 2.91% 1.63
2023 2.07 Est @ 2.4% 1.55
2024 2.12 Est @ 2.05% 1.47
2025 2.16 Est @ 1.8% 1.39
2026 2.19 Est @ 1.63% 1.32
2027 2.22 Est @ 1.51% 1.24
2028 2.26 Est @ 1.42% 1.17
2029 2.29 Est @ 1.37% 1.10
Present value of next 10 years cash flows £14.00
AIM:NSH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £2.29 × (1 + 1.23%) ÷ (7.55% – 1.23%)
£36.60
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £36.60 ÷ (1 + 7.55%)10
£17.68
AIM:NSH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £14.00 + £17.68
£31.68
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £31.68 / 30.07
£1.05
AIM:NSH Discount to Share Price
Calculation Result
Value per share (GBP) From above. £1.05
Current discount Discount to share price of £0.71
= -1 x (£0.71 - £1.05) / £1.05
33.1%

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

Current Discount
Amount off the current price Norish is available for.
Intrinsic value
33%
Share price is £0.71 vs Future cash flow value of £1.05
Current Discount Checks
For Norish to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Norish's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Norish's share price is below the future cash flow value, but not 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 Norish's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norish's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:NSH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.06
AIM:NSH Share Price ** AIM (2019-11-15) in GBP £0.71
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PE Ratio Median Figure of 24 Publicly-Listed Commercial Services Companies 18.65x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 751 Publicly-Listed Companies 17.16x

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

** Primary Listing of Norish.

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

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

= 0.71 ÷ 0.06

11.95x

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

  • Norish is good value based on earnings compared to the GB Commercial Services industry average.
  • Norish is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Norish's expected growth come at a high price?
Raw Data
AIM:NSH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PEG Ratio Median Figure of 19 Publicly-Listed Commercial Services Companies 1.21x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 558 Publicly-Listed Companies 1.4x

*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 Norish, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Norish's assets?
Raw Data
AIM:NSH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £0.56
AIM:NSH Share Price * AIM (2019-11-15) in GBP £0.71
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry PB Ratio Median Figure of 31 Publicly-Listed Commercial Services Companies 1.79x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.52x
AIM:NSH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.71 ÷ 0.56

1.25x

* Primary Listing of Norish.

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

  • Norish is good value based on assets compared to the GB Commercial Services industry average.
X
Value checks
We assess Norish'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Norish 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 Norish expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
9%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Norish expected to grow at an attractive rate?
  • Norish's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Norish's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Norish'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
AIM:NSH Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:NSH Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 9%
AIM:NSH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3.4%
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 15.9%
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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:NSH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:NSH Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 39 1
2020-12-31 38 4 1
2019-12-31 37 3 1
AIM:NSH Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 36 2 2
2019-03-31 36 2 2
2018-12-31 37 2 2
2018-09-30 38 3 1
2018-06-30 40 3 1
2018-03-31 41 3 1
2017-12-31 42 3 1
2017-09-30 40 2 1
2017-06-30 37 1 1
2017-03-31 35 1 1
2016-12-31 32 0 0
2016-09-30 30 0 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norish's earnings are expected to grow by 9% yearly, however this is not considered high growth (20% yearly).
  • Norish's revenue is expected to grow by 3.4% 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
AIM:NSH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Norish Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:NSH Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.07 0.07 0.07 1.00
2020-12-31 0.07 0.07 0.07 1.00
2019-12-31 0.06 0.06 0.06 1.00
AIM:NSH Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.06
2019-03-31 0.05
2018-12-31 0.05
2018-09-30 0.05
2018-06-30 0.04
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.03
2017-06-30 0.02
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.02

*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 Norish will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Norish'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.
Norish 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 Norish 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 Norish's growth in the last year to its industry (Commercial Services).
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.
  • Norish has delivered over 20% year on year earnings growth in the past 5 years.
  • Norish's 1-year earnings growth exceeds its 5-year average (39% vs 24.4%)
  • Norish's earnings growth has exceeded the GB Commercial Services industry average in the past year (39% vs 14.9%).
Earnings and Revenue History
Norish'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 Norish Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:NSH Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 35.86 1.79 0.85
2019-03-31 36.33 1.64 0.85
2018-12-31 36.80 1.50 0.85
2018-09-30 38.36 1.40 0.85
2018-06-30 39.92 1.29 0.86
2018-03-31 40.97 1.25 0.87
2017-12-31 42.01 1.21 0.89
2017-09-30 39.55 0.99 0.84
2017-06-30 37.09 0.76 0.80
2017-03-31 34.59 0.61 0.75
2016-12-31 32.10 0.45 0.71
2016-09-30 30.49 0.53 0.63
2016-06-30 28.89 0.60 0.56
2016-03-31 27.02 0.56 0.50
2015-12-31 25.15 0.51 0.45
2015-09-30 24.73 0.60 0.45
2015-06-30 24.32 0.68 0.45
2015-03-31 23.98 0.64 0.46
2014-12-31 23.65 0.61 0.47
2014-09-30 23.09 0.69 0.47
2014-06-30 22.53 0.77 0.48
2014-03-31 22.67 0.82 0.47
2013-12-31 22.81 0.87 0.47
2013-06-30 19.55 -0.02 0.45
2013-03-31 16.55 -0.13 0.43
2012-12-31 13.55 -0.24 0.42

*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.
  • Norish has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Norish used its assets more efficiently than the GB Commercial Services industry average last year based on Return on Assets.
  • Norish has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Norish'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 Commercial Services 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.
Norish has a total score of 5/6, 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 Norish'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 Norish's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Norish's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Norish's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Norish'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 not covered by short term assets, assets are 0.8x 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 Norish Company Filings, last reported 4 months ago.

AIM:NSH Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 17.18 10.55 0.97
2019-03-31 17.18 10.55 0.97
2018-12-31 16.73 6.18 1.54
2018-09-30 16.73 6.18 1.54
2018-06-30 16.38 6.15 1.17
2018-03-31 16.38 6.15 1.17
2017-12-31 15.95 6.55 1.56
2017-09-30 15.95 6.55 1.56
2017-06-30 15.76 6.68 1.28
2017-03-31 15.76 6.68 1.28
2016-12-31 15.26 6.74 2.04
2016-09-30 15.26 6.74 2.04
2016-06-30 15.56 6.47 3.20
2016-03-31 15.56 6.47 3.20
2015-12-31 15.33 7.11 4.38
2015-09-30 15.33 7.11 4.38
2015-06-30 10.53 7.27 0.13
2015-03-31 10.53 7.27 0.13
2014-12-31 10.37 6.79 0.39
2014-09-30 10.37 6.79 0.39
2014-06-30 10.29 7.25 0.11
2014-03-31 10.29 7.25 0.11
2013-12-31 8.28 6.40 0.05
2013-06-30 8.29 8.38 0.04
2013-03-31 8.29 8.38 0.04
2012-12-31 8.07 8.03 0.10
  • Norish's level of debt (59.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (67.3% vs 59.9% today).
  • Debt is not well covered by operating cash flow (19.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.3x coverage).
X
Financial health checks
We assess Norish'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. Norish has a total score of 3/6, 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 Norish'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
2.17%
Current annual income from Norish dividends. Estimated to be 2.96% next year.
If you bought £2,000 of Norish shares you are expected to receive £43 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?
  • Norish's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • Norish's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.34%).
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:NSH 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 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 680 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

AIM:NSH Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.02 1.00
2020-12-31 0.02 1.00
2019-12-31 0.02 1.00
AIM:NSH Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.015 2.453
2019-03-08 0.015 2.359
2018-05-23 0.014 2.140
2017-04-18 0.013 2.572
2016-04-06 0.011 3.171
2016-03-30 0.012 3.372
2015-03-31 0.010 2.430
2015-03-06 0.011 2.437
2014-04-04 0.009 2.677
2014-03-06 0.010 2.294
2013-03-08 0.010 2.186
2012-04-02 0.010 2.977
2011-03-04 0.011 2.898
2011-03-03 0.011 2.733
2010-09-03 0.000 0.000
2010-03-01 0.000 0.000
2009-09-04 0.015 4.650
2009-03-06 0.011 3.385

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Norish's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Norish's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Norish afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norish has a total score of 4/6, 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 Norish'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
Kieran Mahon
COMPENSATION £151,000
AGE 53
TENURE AS CEO 3.8 years
CEO Bio

Mr. Kieran Mahon has been Group Managing Director of Norish plc since January 1, 2016 and has been its Executive Director since August 19, 2015. Mr. Mahon joined Norish from J+E Davy, where he was an equity analyst. Mr. Mahon serves as a Director of Nuhall Retail Services Limited and Ferncroft Farm Limited. Mr. Mahon holds a Masters Degree in Business Administration from Dublin City University.

CEO Compensation
  • Kieran's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Kieran's remuneration is lower 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 Norish management team in years:

1.6
Average Tenure
54
Average Age
  • The average tenure for the Norish management team is less than 2 years, this suggests a new team.
Management Team

Aidan Hughes

TITLE
Financial Director & Executive Director
AGE
55
TENURE
13.2 yrs

Ted O'Neill

TITLE
Executive Chairman
COMPENSATION
£114K
AGE
67

Kieran Mahon

TITLE
Group MD & Executive Director
COMPENSATION
£151K
AGE
53
TENURE
3.8 yrs

David Bell

TITLE
Sales and Business Development Manager

Paul Andrew

TITLE
Managing Director of Norish North West
TENURE
0.8 yrs

Mick Bates

TITLE
Managing Director of Kent
TENURE
0.8 yrs

Ger Murphy

TITLE
Company Secretary
AGE
33
TENURE
1.6 yrs
Board of Directors Tenure

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

14.5
Average Tenure
64.5
Average Age
  • The average tenure for the Norish board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Aidan Hughes

TITLE
Financial Director & Executive Director
AGE
55
TENURE
13.2 yrs

Ted O'Neill

TITLE
Executive Chairman
COMPENSATION
£114K
AGE
67
TENURE
16.5 yrs

Kieran Mahon

TITLE
Group MD & Executive Director
COMPENSATION
£151K
AGE
53
TENURE
4.3 yrs

Willie McCarter

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£14K
AGE
71
TENURE
15.8 yrs

Torgeir Mantor

TITLE
Non-Executive Director
COMPENSATION
£14K
AGE
62
TENURE
26.8 yrs

Sean Savage

TITLE
Non-Executive Director
COMPENSATION
£14K
AGE
73
TENURE
7.1 yrs
Who owns this company?
Recent Insider Trading
  • Norish individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
10. Oct 19 Sell Aidan Hughes Individual 08. Oct 19 08. Oct 19 -50,000 £0.63 £-31,500
X
Management checks
We assess Norish'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. Norish 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

Does Norish Plc's (LON:NSH) 24% Earnings Growth Reflect The Long-Term Trend?

Examining Norish Plc's (LON:NSH) past track record of performance is an insightful exercise for investors. … Let's see if it is only a result of industry tailwinds, or if Norish has experienced some company-specific growth. … You should continue to research Norish to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for NSH’s future growth?

Simply Wall St -

Why Norish Plc (LON:NSH) Is An Attractive Investment To Consider

AIM:NSH Income Statement, August 17th 2019 NSH's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … Investors have the opportunity to buy into the stock to reap capital gains, if NSH's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. … Dividend Income vs Capital Gains: Does NSH return gains to shareholders through reinvesting in itself and growing earnings, or redistribute a decent portion of earnings as dividends?

Simply Wall St -

Is Norish Plc (LON:NSH) A Smart Pick For Income Investors?

Dividend paying stocks like Norish Plc (LON:NSH) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … Dividend Volatility From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. … Norish's dividend payout ratios are within normal bounds, although we note its cash flow is not as strong as the income statement would suggest.

Simply Wall St -

Are Norish Plc’s (LON:NSH) Returns On Investment Worth Your While?

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 Norish: 0.11 = UK£2.1m ÷ (UK£30m - UK£10m) (Based on the trailing twelve months to December 2018.) Therefore, Norish has an ROCE of 11%. … Norish has a medium level of current liabilities, which would boost the ROCE. … What We Can Learn From Norish's ROCE Norish's ROCE does look good, but the level of current liabilities also contribute to that.

Simply Wall St -

Is Norish (LON:NSH) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously said that 'Volatility is far from synonymous with risk.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. … We note that Norish Plc (LON:NSH) does have debt on its balance sheet. … Debt is far more risky for companies with unreliable free cash flow, so shareholders should be hoping that the past expenditure will produce free cash flow in the future.

Simply Wall St -

Did You Miss Norish's (LON:NSH) 83% Share Price Gain?

Just take a look at Norish Plc (LON:NSH), which is up 83%, over three years, soundly beating the market return of 16% (not including dividends). … We note that the 22% yearly (average) share price gain isn't too far from the EPS growth rate. … Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off.

Simply Wall St -

What Kind Of Shareholder Owns Most Norish Plc (LON:NSH) Stock?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' Norish is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. … View our latest analysis for Norish AIM:NSH Ownership Summary, June 22nd 2019 What Does The Institutional Ownership Tell Us About Norish?

Simply Wall St -

With A Return On Equity Of 9.0%, Has Norish Plc's (LON:NSH) Management Done Well?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Norish: 9.0% = UK£1.5m ÷ UK£17m (Based on the trailing twelve months to December 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Norish Have A Good Return On Equity? … Companies that can achieve high returns on equity without too much debt are generally of good quality.

Simply Wall St -

Does Norish Plc's (LON:NSH) 24% Earnings Growth Make It An Outperformer?

When Norish Plc (LON:NSH) released its most recent earnings update (31 December 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … NSH's trailing twelve-month earnings (from 31 December 2018) of UK£1.5m has jumped 24% compared to the previous year. … While Norish has a good historical track record with positive growth and profitability, there's no certainty that this will extrapolate into the future.

Simply Wall St -

Why Norish Plc (LON:NSH) Could Have A Place In Your Portfolio

Excellent balance sheet established dividend payer NSH’s debt-to-equity ratio stands at 38%, which means its debt level is acceptable. … AIM:NSH Historical Dividend Yield, May 17th 2019 Next Steps: For Norish, I've put together three essential aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for NSH’s future growth? … Take a look at our free research report of analyst consensus for NSH’s outlook.

Simply Wall St -

Company Info

Description

Norish Plc, together with its subsidiaries, provides temperature-controlled warehousing and logistics services to food manufacturers, importers, wholesalers, retailers, and distributors in the United Kingdom and Ireland. The company operates through Product Sourcing Business, North West Cold Storage, South East Cold Storage, and Dairy Farming segments. It offers bonded storage, handling, blast freezing, de-vanning, picking and packing, and cross-docking and distribution services. The company also supplies raw and cooked beef, mutton, lamb, pork, chicken, fish, and poultry and dairy products to food manufacturing and wholesale companies in the United Kingdom, including Northern Ireland. In addition, it is involved in the dairy farming, investment, and property management businesses. Norish plc was founded in 1975 and is headquartered in Bury St Edmunds, the United Kingdom.

Details
Name: Norish Plc
NSH
Exchange: AIM
Founded: 1975
£21,199,616
30,070,378
Website: http://www.norish.com
Address: Norish Plc
Northern Industrial Estate,
Bury St Edmunds,
Suffolk, IP32 6NL,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM NSH Ordinary Shares London Stock Exchange AIM Market GB GBP 02. Jan 1992
Number of employees
Current staff
Staff numbers
175
Norish employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/16 20:42
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/10/29
Last earnings filing: 2019/09/20
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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.