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Gresham House

AIM:GHE
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GHE
AIM
£170M
Market Cap
  1. Home
  2. GB
  3. Diversified Financials
Company description

Gresham House plc, an investment trust, engages in property rental and development in the United Kingdom. The last earnings update was 57 days ago. More info.


Add to Portfolio Compare Print
  • Gresham House is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
GHE Share Price and Events
7 Day Returns
-1.2%
AIM:GHE
-0.3%
GB Capital Markets
-0.5%
GB Market
1 Year Returns
24%
AIM:GHE
18.8%
GB Capital Markets
3.7%
GB Market
GHE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gresham House (GHE) -1.2% 9.4% 6.1% 24% 99.2% 118.8%
GB Capital Markets -0.3% -1.2% 3.2% 18.8% 63.8% 107.4%
GB Market -0.5% 1.4% 3.1% 3.7% 7.8% 3.8%
1 Year Return vs Industry and Market
  • GHE outperformed the Capital Markets industry which returned 18.8% over the past year.
  • GHE outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 3.7% over the past year.
Price Volatility
GHE
Industry
5yr Volatility vs Market

Value

 Is Gresham House 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
  • It is not possible to calculate the future cash flow value for Gresham House. This is due to cash flow or dividend data being unavailable. The share price is £6.125.
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 Gresham House's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gresham House's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:GHE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £-0.04
AIM:GHE Share Price ** AIM (2019-11-12) in GBP £6.13
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PE Ratio Median Figure of 42 Publicly-Listed Capital Markets Companies 20.19x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 752 Publicly-Listed Companies 16.92x

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

** Primary Listing of Gresham House.

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

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

= 6.13 ÷ -0.04

-144.41x

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

  • Gresham House is loss making, we can't compare its value to the GB Capital Markets industry average.
  • Gresham House is loss making, we can't compare the value of its earnings to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Gresham House's expected growth come at a high price?
Raw Data
AIM:GHE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -144.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
106%per year
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PEG Ratio Median Figure of 25 Publicly-Listed Capital Markets Companies 1.1x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 555 Publicly-Listed Companies 1.39x

*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 Gresham House, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gresham House's assets?
Raw Data
AIM:GHE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £3.25
AIM:GHE Share Price * AIM (2019-11-12) in GBP £6.13
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PB Ratio Median Figure of 75 Publicly-Listed Capital Markets Companies 1.33x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.5x
AIM:GHE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 6.13 ÷ 3.25

1.88x

* Primary Listing of Gresham House.

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

  • Gresham House is overvalued based on assets compared to the GB Capital Markets industry average.
X
Value checks
We assess Gresham House'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Gresham House has a total score of 0/6, 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 Gresham House expected to perform in the next 1 to 3 years based on estimates from 3 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
106%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gresham House expected to grow at an attractive rate?
  • Gresham House's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Gresham House's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Gresham House's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:GHE Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:GHE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 106%
AIM:GHE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 7.5%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 17.9%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:GHE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:GHE Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 32 11 2 2
2020-12-31 30 10 1 3
2019-12-31 29 7 0 3
2019-11-12
AIM:GHE Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 25 3 -1
2019-03-31 20 2 -1
2018-12-31 15 1 -1
2018-09-30 13 0 -1
2018-06-30 10 -1 -2
2018-03-31 8 -1 -2
2017-12-31 6 -2 -2
2017-09-30 6 -1 -2
2017-06-30 5 -1 -3
2017-03-31 5 -2 -3
2016-12-31 4 -4 -3
2016-09-30 3 -4 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gresham House's earnings are expected to grow significantly at over 20% yearly.
  • Gresham House's revenue is expected to grow by 7.5% 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
AIM:GHE 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 3 Analyst Estimates (S&P Global) See Below

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

AIM:GHE Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.08 0.11 0.06 2.00
2020-12-31 0.05 0.08 0.02 2.00
2019-12-31 -0.01 0.00 -0.02 2.00
2019-11-12
AIM:GHE Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 -0.04
2019-03-31 -0.04
2018-12-31 -0.04
2018-09-30 -0.07
2018-06-30 -0.12
2018-03-31 -0.14
2017-12-31 -0.17
2017-09-30 -0.20
2017-06-30 -0.23
2017-03-31 -0.28
2016-12-31 -0.34
2016-09-30 -0.46

*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.
  • Gresham House is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Gresham House'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.
Gresham House has a total score of 4/6, 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 Gresham House 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 Gresham House's growth in the last year to its industry (Capital Markets).
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.
  • Gresham House does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Gresham House's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Gresham House's 1-year growth to the GB Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Gresham House'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 Gresham House Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:GHE 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 25.06 -0.99 17.49
2019-03-31 20.28 -0.85 12.74
2018-12-31 15.49 -0.71 8.00
2018-09-30 12.63 -1.12 7.27
2018-06-30 9.77 -1.54 6.54
2018-03-31 8.04 -1.78 5.65
2017-12-31 6.32 -2.02 4.76
2017-09-30 5.80 -2.26 4.65
2017-06-30 5.28 -2.50 4.54
2017-03-31 4.70 -2.94 4.18
2016-12-31 4.12 -3.37 3.81
2016-09-30 3.13 -4.49 4.39
2016-06-30 2.14 -5.62 4.98
2016-03-31 1.75 -4.71 3.84
2015-12-31 1.36 -3.81 2.70
2015-09-30 1.18 -2.85 1.94
2015-06-30 1.00 -1.89 1.19
2015-03-31 1.09 -3.32 1.11
2014-12-31 1.17 -4.75 1.04
2014-09-30 1.26 -4.69 0.98
2014-06-30 1.34 -4.63 0.91
2014-03-31 1.34 -4.07 0.88
2013-12-31 1.34 -3.50 0.84
2013-09-30 1.46 -1.49 0.85
2013-06-30 1.58 0.52 0.86
2013-03-31 1.70 0.97 0.85
2012-12-31 1.83 1.42 0.84

*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.
  • It is difficult to establish if Gresham House has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Gresham House has efficiently used its assets last year compared to the GB Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Gresham House improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Gresham House'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 Capital Markets 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.
Gresham House has a total score of 0/6, 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 Gresham House'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 Gresham House's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gresham House is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gresham House's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gresham House's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 9.7x 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 Gresham House Company Filings, last reported 4 months ago.

AIM:GHE Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 89.08 2.95 15.83
2019-03-31 89.08 2.95 15.83
2018-12-31 79.74 9.84 13.96
2018-09-30 79.74 9.84 13.96
2018-06-30 61.19 0.00 17.42
2018-03-31 61.19 0.00 17.42
2017-12-31 28.85 0.00 9.79
2017-09-30 28.85 0.00 9.79
2017-06-30 30.16 4.35 8.10
2017-03-31 30.16 4.35 8.10
2016-12-31 24.62 5.90 2.80
2016-09-30 24.62 5.90 2.80
2016-06-30 24.17 6.72 4.80
2016-03-31 24.17 6.72 4.80
2015-12-31 25.83 3.52 4.39
2015-09-30 25.83 3.52 4.39
2015-06-30 27.89 3.28 10.70
2015-03-31 27.89 3.28 10.70
2014-12-31 27.84 3.28 11.21
2014-09-30 27.84 3.28 11.21
2014-06-30 17.81 3.28 1.04
2014-03-31 17.81 3.28 1.04
2013-12-31 20.32 3.75 1.63
2013-09-30 20.32 3.75 1.63
2013-06-30 21.76 4.00 0.92
2013-03-31 21.76 4.00 0.92
2012-12-31 23.90 14.96 8.35
  • Gresham House's level of debt (3.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (18.3% vs 3.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Gresham House has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Gresham House has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -89.6% per year.
X
Financial health checks
We assess Gresham House'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. Gresham House 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 Gresham House'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
0.49%
Current annual income from Gresham House dividends. Estimated to be 0.75% next year.
If you bought £2,000 of Gresham House shares you are expected to receive £10 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?
  • Gresham House's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.94%).
  • Gresham House's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.33%).
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:GHE 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 3 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 2.2%
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 1.9%
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:GHE Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.05 2.00
2020-12-31 0.05 3.00
2019-12-31 0.04 3.00
2019-11-12
AIM:GHE Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-03-22 0.030 0.524
2014-08-28 0.000 0.000
2014-04-30 0.000 0.000
2014-04-29 0.000 0.000
2013-04-19 0.025 0.788
2013-04-18 0.025 0.758
2012-04-27 0.010 0.324
2011-04-20 0.010 0.293
2011-04-19 0.010 0.302
2010-04-28 0.010 0.302
2010-03-01 0.010 0.292
2009-04-30 0.010 0.401
2008-12-31 0.010 0.613

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

  • Gresham House is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are stable.
  • Gresham House is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Gresham House's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Gresham House's dividends as it is not paying a notable one for United Kingdom of Great Britain and Northern Ireland.
Future Payout to shareholders
  • No need to calculate the sustainability of Gresham House's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess Gresham House'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 Gresham House afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gresham House has a total score of 0/6, 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 Gresham House'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
Tony Dalwood
COMPENSATION £480,000
AGE 48
TENURE AS CEO 4.9 years
CEO Bio

Mr. Anthony L. Dalwood, also known as Tony, is the Chief Executive Officer at Gresham House plc since December 2014 and serves as its Executive Director since July 31, 2014. Mr. Dalwood serves as an Adviser at LDC (Managers) Limited through Gresham House and served as its Director. Currently, he chairs the Board of the London Pensions Fund Authority and serves on the Board of Branton Capital limited. He works at Gresham House Asset Management Limited. He serves as an Independent non-executive director of JP Morgan Private Equity Plc. Mr. Dalwood is an experienced investor and adviser to public and private equity businesses. He has several years of investment and operating experience. Mr. Dalwood focuses on Support Services, Retail and Consumer, Travel and Leisure, TMT, Industrials, Healthcare, Financial Services, Construction and Property and Cleantech and Renewables sectors and was responsible for LDC's quoted private equity platform. In 2002 Tony founded and became CIO of SVG Investment Managers and SVG Advisers. He joined SVG Advisers Limited in 2002 as the Head of Public Equities and became CEO in May 2009. He established and led the growth of the firm, before launching Strategic Equity Capital plc, in 2005. Previously, Mr. Dalwood was the Founder at GVO Investment Management Limited and served as its Chief Executive Officer, Chief Investment Officer, Head of Public Equities, Portfolio Manager and Chairman of the Board. He established SVG Investment Managers. Mr. Dalwood served as Managing Director at Branton Capital. He started his career as a Director at UBS Global Asset Management, where he was employed for seven years and was responsible for managing of UK equities. Mr. Dalwood also served as Member of Advisory Board for Westminster Group till December 2017. With several years of experience in the industry, he is an investor and has also advised numerous public and private equity businesses. He is a Certified Financial Analyst. Mr. Dalwood holds an Honors Degree in economics and accounting from University of Bristol and a Degree in management studies from Judge Business School, University of Cambridge.

CEO Compensation
  • Tony's compensation has increased whilst company is loss making.
  • Tony's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Gresham House management team in years:

1.6
Average Tenure
46.5
Average Age
  • The average tenure for the Gresham House management team is less than 2 years, this suggests a new team.
Management Team

Tony Dalwood

TITLE
CEO & Executive Director
COMPENSATION
£480K
AGE
48
TENURE
4.9 yrs

Kevin Acton

TITLE
Finance Director & Director
COMPENSATION
£332K
AGE
42
TENURE
3.4 yrs

Andy Hampshire

TITLE
COO & CTO
TENURE
1.8 yrs

Samee Khan

TITLE
General Counsel & Company Secretary
TENURE
0.8 yrs

Lizzie Darbourne

TITLE
Marketing Director
TENURE
1.6 yrs

Louise Richards

TITLE
HR Director
TENURE
0.7 yrs

Rupert Robinson

TITLE
Managing Director of Gresham House Asset Management
TENURE
4.2 yrs

Graham Bird

TITLE
Head of Strategic equity
AGE
49

Heather Fleming

TITLE
Head of Institutional Business
TENURE
1.4 yrs

Edward Daniels

TITLE
Investment Director & Head of Oxford Office of Forestry
AGE
45
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Gresham House board of directors in years:

1.8
Average Tenure
62
Average Age
  • The average tenure for the Gresham House board of directors is less than 3 years, this suggests a new board.
Board of Directors

J. Anthony V. Townsend

TITLE
Independent Non-Executive Chairman
COMPENSATION
£50K
AGE
71

Tony Dalwood

TITLE
CEO & Executive Director
COMPENSATION
£480K
AGE
48
TENURE
5.3 yrs

Kevin Acton

TITLE
Finance Director & Director
COMPENSATION
£332K
AGE
42
TENURE
3.4 yrs

Richard Chadwick

TITLE
Senior Independent Director
COMPENSATION
£30K
AGE
67

Simon Stilwell

TITLE
Non-Executive Director
COMPENSATION
£30K
AGE
50
TENURE
1.9 yrs

Roy Gardner

TITLE
Member of Advisory Group
AGE
74

Gareth Davis

TITLE
Non-Executive Director
AGE
69
TENURE
0.1 yrs

Rachel Beagles

TITLE
Non-Executive Director
COMPENSATION
£25K
AGE
51
TENURE
1.7 yrs

Laurie Magnus

TITLE
Member of Advisory Group
AGE
62
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
X
Management checks
We assess Gresham House'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. Gresham House 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

Is It Too Late To Buy Gresham House plc (LON:GHE)?

A question to answer is whether Gresham House's current trading price of £4.39 reflective of the actual value of the? … Let’s take a look at Gresham House’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change? … What does the future of Gresham House look like

Simply Wall St -

Is Gresham House plc's (LON:GHE) CEO Paid Enough Relative To Peers?

Check out our latest analysis for Gresham House What has GHE's performance been like? … Therefore I will use earnings as a proxy of Dalwood's performance in the past year. … Normally I would look at market cap and earnings as a proxy for performance, however, GHE's negative earnings lower the effectiveness of this method.

Simply Wall St -

What Kind Of Risk Should You Expect For Gresham House plc (LON:GHE)?

The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market. … GHE’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … I examine GHE’s ratio of fixed assets to total assets to see whether the company is highly exposed to the risk of this type of constraint.

Simply Wall St -

Why Gresham House plc's (LON:GHE) Investor Composition Impacts Your Returns

In this article, I'm going to take a look at Gresham House plc’s (AIM:GHE) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Check out our latest analysis for Gresham House AIM:GHE Ownership_summary May 1st 18 Institutional Ownership In GHE's case, institutional ownership stands at 50.60%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … Private Company Ownership Another important group of owners for potential investors in GHE are private companies that hold a stake of 18.15% in GHE.

Simply Wall St -

Is It The Right Time To Buy Gresham House plc (LON:GHE)?

Let’s take a look at Gresham House’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … In addition to this, it seems like Gresham House’s share price is quite stable, which could mean there may be less chances to buy low in the future now that it’s fairly valued. … GHE’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Does Gresham House plc's (LON:GHE) Past Performance Indicate A Stronger Future?

Measuring Gresham House plc's (AIM:GHE) track record of past performance is a valuable exercise for investors. … See our latest analysis for Gresham House Were GHE's earnings stronger than its past performances and the industry? … Each year, for the past half a decade Gresham House's top-line has grown by 21.83% on average, signalling that the company is in a high-growth period with expenses racing ahead revenues, leading to annual losses.

Simply Wall St -

Is Gresham House plc (LON:GHE) Undervalued?

Gresham House plc (AIM:GHE), a capital markets company based in United Kingdom, saw a decent share price growth in the teens level on the AIM over the last few months. … The stock’s ratio of 1.7x is currently trading slightly below its industry peers’ ratio of 1.77x, which means if you buy Gresham House today, you’d be paying a relatively fair price for it. … Gresham House’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Gresham House plc's (AIM:GHE) EPS Grew 66.4% In A Year. Was It Better Than Long-Term Trend?

Below, I will run you through a simple sense check to build perspective on how Gresham House is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its capital markets industry peers. … This shows that, Gresham House has historically performed better than recently, although it seems like earnings are now heading back towards a more favorable position once more. … This shows that, while Gresham House is currently loss-making, it may have gained from industry tailwinds, moving earnings into a more favorable position.What does this mean?

Simply Wall St -

What You Must Know About Gresham House plc's (AIM:GHE) Risks

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … Based on this beta value, GHE appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … I test GHE’s ratio of fixed assets to total assets in order to determine how high the risk is associated with this type of constraint.

Simply Wall St -

How Does Gresham House plc (AIM:GHE) Compare To The Financial Sector?

Financial services analysts are forecasting for the entire industry, negative growth in the upcoming year, and Is now the right time to pick up some shares in capital markets companies? … AIM:GHE PE PEG Gauge Oct 21st 17 Capital markets companies are typically trading at a PE of 16x, relatively similar to the rest of the UK stock market PE of 18x. … If GHE has been on your watchlist for a while, now may be the time to enter into the stock, if you like its ability to deliver growth and are not highly concentrated in the capital markets industry.

Simply Wall St -

Company Info

Description

Gresham House plc, an investment trust, engages in property rental and development in the United Kingdom. It also invests in listed securities. The company is based in London, the United Kingdom.

Details
Name: Gresham House plc
GHE
Exchange: AIM
Founded: 1857
£169,689,376
27,704,388
Website: http://www.greshamhouse.com
Address: Gresham House plc
Octagon Point,
Five Cheapside,
London,
Greater London, EC2V 6AA,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM GHE Ordinary Shares London Stock Exchange AIM Market GB GBP 02. Jan 1980
Number of employees
Current staff
Staff numbers
80
Gresham House employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/12 20:35
End of day share price update: 2019/11/12 00:00
Last estimates confirmation: 2019/10/01
Last earnings filing: 2019/09/16
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.