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Gresham House Strategic

AIM:GHS
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GHS
AIM
£42M
Market Cap
  1. Home
  2. GB
  3. Diversified Financials
Company description

Gresham House Strategic plc specializes in PIPE, pre-IPO, growth and acquisition, recovery capital investments. The last earnings update was 140 days ago. More info.


Add to Portfolio Compare Print
  • Gresham House Strategic is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
GHS Share Price and Events
7 Day Returns
0.9%
AIM:GHS
-0.3%
GB Capital Markets
-0.5%
GB Market
1 Year Returns
27.4%
AIM:GHS
18.8%
GB Capital Markets
3.7%
GB Market
GHS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gresham House Strategic (GHS) 0.9% 9.3% 10.3% 27.4% 55.6% 23.7%
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
  • GHS outperformed the Capital Markets industry which returned 18.8% over the past year.
  • GHS outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 3.7% over the past year.
Price Volatility
GHS
Industry
5yr Volatility vs Market

GHS Value

 Is Gresham House Strategic 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 Gresham House Strategic 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 Gresham House Strategic.

AIM:GHS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= £10.82 * 14.9%
£1.61
Book Value of Equity per Share Median Book Value from the past 5 years. £10.82
Discount Rate (Cost of Equity) See below 8.5%
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:GHS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 19%) (0%))
1.095
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.095 * 6.65%)
8.51%

Discounted Cash Flow Calculation for AIM:GHS using Excess Returns Model Model

The calculations below outline how an intrinsic value for Gresham House Strategic is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AIM:GHS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.9% – 8.51%) * £10.82)
£0.69
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.69 / (8.51% - 1.23%)
£9.43
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £10.82 + £9.43
£20.25
AIM:GHS Discount to Share Price
Calculation Result
Value per share (GBP) From above. £20.25
Current discount Discount to share price of £11.75
= -1 x (£11.75 - £20.25) / £20.25
42%

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

Current Discount
Amount off the current price Gresham House Strategic is available for.
Intrinsic value
42%
Share price is £11.75 vs Future cash flow value of £20.25
Current Discount Checks
For Gresham House Strategic to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gresham House Strategic's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gresham House Strategic'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 Gresham House Strategic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gresham House Strategic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:GHS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £0.91
AIM:GHS Share Price ** AIM (2019-11-12) in GBP £11.75
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 Strategic.

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

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

= 11.75 ÷ 0.91

12.91x

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

  • Gresham House Strategic is good value based on earnings compared to the GB Capital Markets industry average.
  • Gresham House Strategic is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Gresham House Strategic's expected growth come at a high price?
Raw Data
AIM:GHS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United Kingdom of Great Britain and Northern Ireland 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 Strategic, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gresham House Strategic's assets?
Raw Data
AIM:GHS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £12.59
AIM:GHS Share Price * AIM (2019-11-12) in GBP £11.75
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:GHS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 11.75 ÷ 12.59

0.93x

* Primary Listing of Gresham House Strategic.

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

  • Gresham House Strategic is good value based on assets compared to the GB Capital Markets industry average.
X
Value checks
We assess Gresham House Strategic'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 Strategic has a total score of 5/6, 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.

GHS Future Performance

 How is Gresham House Strategic expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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

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

Show me the analysis anyway

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

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
17.9%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gresham House Strategic expected to grow at an attractive rate?
  • Unable to compare Gresham House Strategic's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Gresham House Strategic's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Gresham House Strategic's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AIM:GHS Future Growth Rates Data Sources
Data Point Source Value (per year)
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:GHS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:GHS Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
AIM:GHS Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 7 -1 3
2018-12-31 9 -1 5
2018-09-30 10 -1 7
2018-06-30 8 -1 6
2018-03-31 6 -1 5
2017-12-31 4 -1 9
2017-09-30 2 -1 13
2017-06-30 3 -1 14
2017-03-31 4 -1 15
2016-12-31 5 -1 10
2016-09-30 5 0 4
2016-06-30 5 0 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Gresham House Strategic is high growth as no earnings estimate data is available.
  • Unable to determine if Gresham House Strategic is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:GHS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Gresham House Strategic Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:GHS Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
AIM:GHS Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 0.91
2018-12-31 1.45
2018-09-30 1.98
2018-06-30 1.63
2018-03-31 1.28
2017-12-31 2.36
2017-09-30 3.44
2017-06-30 3.79
2017-03-31 4.13
2016-12-31 2.61
2016-09-30 1.08
2016-06-30 0.62

*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 Gresham House Strategic will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gresham House Strategic'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 Strategic has a total score of 0/6, see the detailed checks below.

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

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

GHS Past Performance

  How has Gresham House Strategic 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 Strategic'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 Strategic has delivered over 20% year on year earnings growth in the past 5 years.
  • Gresham House Strategic's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Gresham House Strategic's 1-year earnings growth is negative, it can't be compared to the GB Capital Markets industry average.
Earnings and Revenue History
Gresham House Strategic'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 Strategic Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:GHS Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 6.97 3.25 3.72
2018-12-31 8.61 5.22 3.39
2018-09-30 10.24 7.19 3.06
2018-06-30 8.15 5.93 2.22
2018-03-31 6.05 4.67 1.37
2017-12-31 3.82 8.65 -5.20
2017-09-30 1.59 12.62 -11.77
2017-06-30 2.91 13.93 -11.76
2017-03-31 4.22 15.23 -11.75
2016-12-31 4.63 9.61 -5.36
2016-09-30 5.04 3.99 1.03
2016-06-30 4.53 2.13 2.40
2016-03-31 4.03 0.26 3.76
2015-12-31 2.15 -1.69 3.83
2015-09-30 0.27 -3.64 3.90
2015-06-30 -0.25 -3.00 2.74
2015-03-31 -0.77 -2.36 1.58
2014-12-31 1.21 -1.29 2.46
2014-09-30 3.19 -0.21 3.34
2014-06-30 -0.06 -3.92 3.78
2014-03-31 -3.32 -7.63 4.22
2013-12-31 0.18 -4.34 4.43
2013-09-30 3.67 -1.05 4.65
2013-06-30 7.56 2.80 4.69
2013-03-31 11.46 6.65 4.73
2012-12-31 13.63 8.77 4.69

*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.
  • Gresham House Strategic has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Gresham House Strategic used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
  • Gresham House Strategic has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Gresham House Strategic'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 Strategic 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.

GHS Health

 How is Gresham House Strategic'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 Strategic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gresham House Strategic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gresham House Strategic has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gresham House Strategic'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.
  • Gresham House Strategic has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gresham House Strategic Company Filings, last reported 7 months ago.

AIM:GHS Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 44.75 0.00 6.73
2018-12-31 44.75 0.00 6.73
2018-09-30 44.89 0.00 13.87
2018-06-30 44.89 0.00 13.87
2018-03-31 43.36 0.00 3.04
2017-12-31 43.36 0.00 3.04
2017-09-30 39.26 0.00 6.69
2017-06-30 39.26 0.00 6.69
2017-03-31 39.52 0.00 12.99
2016-12-31 39.52 0.00 12.99
2016-09-30 39.90 0.00 10.31
2016-06-30 39.90 0.00 10.31
2016-03-31 36.71 0.00 16.56
2015-12-31 36.71 0.00 16.56
2015-09-30 36.40 0.00 16.69
2015-06-30 36.40 0.00 16.69
2015-03-31 22.60 0.00 3.04
2014-12-31 22.60 0.00 3.04
2014-09-30 25.69 0.00 4.65
2014-06-30 25.69 0.00 4.65
2014-03-31 43.74 0.00 25.66
2013-12-31 43.74 0.00 25.66
2013-09-30 46.87 0.00 4.75
2013-06-30 46.87 0.00 4.75
2013-03-31 61.84 0.00 1.90
2012-12-31 61.84 0.00 1.90
  • Gresham House Strategic has no debt.
  • Gresham House Strategic has not taken on any debt in the past 5 years.
  • Gresham House Strategic has no debt, it does not need to be covered by operating cash flow.
  • Gresham House Strategic has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Gresham House Strategic'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 Strategic 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.

GHS Dividends

 What is Gresham House Strategic'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
1.89%
Current annual income from Gresham House Strategic dividends.
If you bought £2,000 of Gresham House Strategic shares you are expected to receive £38 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 Strategic'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 Strategic'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:GHS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland 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:GHS Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
AIM:GHS Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-09-19 0.222 1.999
2018-11-22 0.175 1.754
2018-06-19 0.173 1.759
2017-06-09 0.150 1.748
2017-06-08 0.150 1.644

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

  • Whilst dividend payments have been stable, Gresham House Strategic has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Gresham House Strategic only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Gresham House Strategic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Gresham House Strategic'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 Strategic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gresham House Strategic has a total score of 1/6, see the detailed checks below.


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

GHS Management

 What is the CEO of Gresham House Strategic'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
AGE 48
TENURE AS CEO 1.8 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
  • Insufficient data for Tony to compare compensation growth.
  • Insufficient data for Tony to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Tony Dalwood

TITLE
Chief Executive
AGE
48
TENURE
1.8 yrs

Graham Bird

TITLE
Head of Strategic Equity
AGE
49

Kiko Duffy

TITLE
Investment Director and Director of TMT

Pardip Khroud

TITLE
Investment Director

Martin Williams

TITLE
Management Director

Penny Attridge

TITLE
Director of Healthcare

Charles Gee

TITLE
Director of Healthcare
AGE
66

Brigitte Beater

TITLE
Executive Officer of Finance Team

William Lu

TITLE
Director of China

Laurence Hulse

TITLE
Investment Manager & Executive Officer
Board of Directors Tenure

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

10
Average Tenure
53
Average Age
  • The average tenure for the Gresham House Strategic board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

David Roger Potter

TITLE
Non-Executive Chairman
COMPENSATION
£50K
AGE
74
TENURE
10.2 yrs

Tony Dalwood

TITLE
Chief Executive
AGE
48

Charles Berry

TITLE
Non-Executive Director
COMPENSATION
£25K
AGE
48
TENURE
15.2 yrs

Helen Sinclair

TITLE
Non-Executive Director
COMPENSATION
£25K
AGE
53
TENURE
9.9 yrs

Ken Lever

TITLE
Non-Executive Director
COMPENSATION
£25K
AGE
66
TENURE
3.8 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 Strategic'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 Strategic 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.

GHS News

Simply Wall St News

GHS Company Info

Description

Gresham House Strategic plc specializes in PIPE, pre-IPO, growth and acquisition, recovery capital investments. The fund invests in financial services, media, information and communication technology, digital information and technology, healthcare, and life sciences. It prefers to invest in companies based in United Kingdom and Europe and can also co-invest outside Europe with local venture capital firms. The fund also seeks to make follow on investments. It invests in companies with market capitalizations of less than £250 million ($283.87 million) and seeks to acquire stakes between 5% and 25% for cash or share consideration. It seeks to invest between three to five years. The fund invests in smaller public companies as well as private companies. It invests in public companies that are listed on FTSE All-share and AIM All-Share Index; stocks trading greater than 50% below 3 year price high; EV or EBITDA less than 7 times, gearing more than 75%, ROCE greater than 10%, FCF Yield greater than 10%. The fund invests in private companies in P2P opportunities, equity and equity-related instruments, preferred equity, preferred quasi equity positions including convertible and non-convertible debt instruments, and mezzanine preferred instruments. It attracts portfolio in scenarios - excluding cash, portfolio trades on a weighted average EV or EBITDA greater than 5 times; generating in excess of 10% growth in 2017 based on broker forecasts. The fund targets 15% net IRR over the long-term.

Details
Name: Gresham House Strategic plc
GHS
Exchange: AIM
Founded: 1999
£41,741,886
3,552,501
Website: http://www.ghsplc.com
Address: Gresham House Strategic plc
5 New Street Square,
London,
Greater London, EC4A 3TW,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM GHS Ordinary Shares London Stock Exchange AIM Market GB GBP 28. Oct 1999
AIM SPK ORD GBP0.5 London Stock Exchange AIM Market GB GBP 12. Nov 2019
Number of employees
Current staff
Staff numbers
4
Gresham House Strategic 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: 2016/10/01
Last earnings filing: 2019/06/25
Last earnings reported: 2019/03/31
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.