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Polar Capital Holdings

AIM:POLR
Snowflake Description

Outstanding track record with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
POLR
AIM
£502M
Market Cap
  1. Home
  2. GB
  3. Diversified Financials
Company description

Polar Capital Holdings plc is a publicly owned investment manager. The last earnings update was 144 days ago. More info.


Add to Portfolio Compare Print
  • Polar Capital Holdings is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
POLR Share Price and Events
7 Day Returns
6.7%
AIM:POLR
-0.3%
GB Capital Markets
-0.5%
GB Market
1 Year Returns
5.5%
AIM:POLR
18.8%
GB Capital Markets
3.7%
GB Market
POLR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polar Capital Holdings (POLR) 6.7% 5.5% 1.9% 5.5% 95.3% 12.5%
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
  • POLR underperformed the Capital Markets industry which returned 18.8% over the past year.
  • POLR outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 3.7% over the past year.
Price Volatility
POLR
Industry
5yr Volatility vs Market

POLR Value

 Is Polar Capital Holdings 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 Polar Capital Holdings 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 Polar Capital Holdings.

AIM:POLR 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
= £0.84 * 25.3%
£0.21
Book Value of Equity per Share Median Book Value from the past 5 years. £0.84
Discount Rate (Cost of Equity) See below 6.8%
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:POLR
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%))
0.835
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.835 * 6.65%)
6.78%

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

The calculations below outline how an intrinsic value for Polar Capital Holdings 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:POLR Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (25.3% – 6.78%) * £0.84)
£0.16
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.16 / (6.78% - 1.23%)
£2.81
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £0.84 + £2.81
£3.65
AIM:POLR Discount to Share Price
Calculation Result
Value per share (GBP) From above. £3.65
Current discount Discount to share price of £5.40
= -1 x (£5.40 - £3.65) / £3.65
-48.1%

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

  • The current share price of Polar Capital Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Polar Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polar Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:POLR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in GBP £0.58
AIM:POLR Share Price ** AIM (2019-11-12) in GBP £5.4
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 Polar Capital Holdings.

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

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

= 5.4 ÷ 0.58

9.34x

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

  • Polar Capital Holdings is good value based on earnings compared to the GB Capital Markets industry average.
  • Polar Capital Holdings is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Polar Capital Holdings's expected growth come at a high price?
Raw Data
AIM:POLR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.34x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-1.2%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 .

AIM:POLR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.34x ÷ -1.2%

-7.48x

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

  • Polar Capital Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polar Capital Holdings's assets?
Raw Data
AIM:POLR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in GBP £1.21
AIM:POLR Share Price * AIM (2019-11-12) in GBP £5.4
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:POLR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.4 ÷ 1.21

4.48x

* Primary Listing of Polar Capital Holdings.

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

  • Polar Capital Holdings is overvalued based on assets compared to the GB Capital Markets industry average.
X
Value checks
We assess Polar Capital Holdings'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. Polar Capital Holdings has a total score of 2/6, 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.

POLR Future Performance

 How is Polar Capital Holdings 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
-1.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polar Capital Holdings expected to grow at an attractive rate?
  • Polar Capital Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Polar Capital Holdings's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Polar Capital Holdings'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:POLR Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:POLR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -1.2%
AIM:POLR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 0.4%
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:POLR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 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:POLR Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 175 72 52 3
2021-03-31 157 63 45 3
2020-03-31 140 50 40 3
2019-11-12
AIM:POLR Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-03-31 179 75 52
2018-12-31 172 71 49
2018-09-30 165 67 46
2018-06-30 151 59 39
2018-03-31 137 51 33
2017-12-31 113 37 26
2017-09-30 89 22 19
2017-06-30 84 16 18
2017-03-31 78 9 16
2016-12-31 79 12 16
2016-09-30 80 15 15
2016-06-30 83 17 17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polar Capital Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Polar Capital Holdings's revenue is expected to grow by 0.4% 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:POLR 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 3 Analyst Estimates (S&P Global) See Below

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

AIM:POLR Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 0.52 0.52 0.52 1.00
2021-03-31 0.45 0.45 0.45 1.00
2020-03-31 0.40 0.40 0.40 1.00
2019-11-12
AIM:POLR Past Financials Data
Date (Data in GBP Millions) EPS *
2019-03-31 0.58
2018-12-31 0.54
2018-09-30 0.50
2018-06-30 0.43
2018-03-31 0.36
2017-12-31 0.29
2017-09-30 0.21
2017-06-30 0.20
2017-03-31 0.18
2016-12-31 0.17
2016-09-30 0.17
2016-06-30 0.19

*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.
  • Polar Capital Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Polar Capital Holdings'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.
Polar Capital Holdings 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.

POLR Past Performance

  How has Polar Capital Holdings 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 Polar Capital Holdings'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.
  • Polar Capital Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Polar Capital Holdings's 1-year earnings growth exceeds its 5-year average (59.7% vs 14.9%)
  • Polar Capital Holdings's earnings growth has exceeded the GB Capital Markets industry average in the past year (59.7% vs 4.7%).
Earnings and Revenue History
Polar Capital Holdings'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 Polar Capital Holdings Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:POLR Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 179.02 52.39 81.77
2018-12-31 172.15 49.02 82.42
2018-09-30 165.29 45.65 83.07
2018-06-30 151.22 39.22 78.27
2018-03-31 137.15 32.80 73.47
2017-12-31 113.32 25.98 59.27
2017-09-30 89.48 19.17 45.07
2017-06-30 83.59 17.60 40.86
2017-03-31 77.71 16.04 36.66
2016-12-31 78.70 15.53 44.20
2016-09-30 79.69 15.01 51.75
2016-06-30 82.52 16.61 52.49
2016-03-31 85.35 18.20 53.23
2015-12-31 92.02 21.42 55.40
2015-09-30 98.13 24.01 57.63
2015-06-30 98.66 23.94 57.27
2015-03-31 99.19 23.87 56.92
2014-12-31 101.23 25.13 58.31
2014-09-30 103.27 26.39 59.69
2014-06-30 98.30 25.71 57.22
2014-03-31 93.34 25.03 54.74
2013-12-31 80.22 20.79 47.99
2013-09-30 67.11 16.55 41.25
2013-06-30 60.21 14.09 37.71
2013-03-31 53.32 11.64 34.18
2012-12-31 46.34 9.31 30.51

*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.
  • Polar Capital Holdings made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Polar Capital Holdings used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
  • Polar Capital Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Polar Capital Holdings'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.
Polar Capital Holdings has a total score of 6/6, 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.

POLR Health

 How is Polar Capital Holdings'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 Polar Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polar Capital Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polar Capital Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Polar Capital Holdings'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.
  • Polar Capital Holdings 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 Polar Capital Holdings Company Filings, last reported 7 months ago.

AIM:POLR Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 109.68 0.00 146.86
2018-12-31 109.68 0.00 146.86
2018-09-30 83.85 0.00 105.33
2018-06-30 83.85 0.00 105.33
2018-03-31 87.67 0.00 109.38
2017-12-31 87.67 0.00 109.38
2017-09-30 68.81 0.00 76.06
2017-06-30 68.81 0.00 76.06
2017-03-31 70.74 0.00 82.59
2016-12-31 70.74 0.00 82.59
2016-09-30 65.39 0.00 60.12
2016-06-30 65.39 0.00 60.12
2016-03-31 75.70 0.00 92.22
2015-12-31 75.60 0.00 82.06
2015-09-30 69.67 0.00 60.73
2015-06-30 69.67 0.00 60.73
2015-03-31 75.23 0.00 79.46
2014-12-31 75.23 0.00 79.46
2014-09-30 65.49 0.00 63.45
2014-06-30 65.49 0.00 63.45
2014-03-31 74.17 0.00 90.95
2013-12-31 74.17 0.00 90.95
2013-09-30 56.82 0.00 56.74
2013-06-30 56.82 0.00 56.74
2013-03-31 53.76 0.00 62.19
2012-12-31 53.76 0.00 62.19
  • Polar Capital Holdings has no debt.
  • Polar Capital Holdings has not taken on any debt in the past 5 years.
  • Polar Capital Holdings has no debt, it does not need to be covered by operating cash flow.
  • Polar Capital Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Polar Capital Holdings'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. Polar Capital Holdings 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.

POLR Dividends

 What is Polar Capital Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.11%
Current annual income from Polar Capital Holdings dividends. Estimated to be 6.58% next year.
If you bought £2,000 of Polar Capital Holdings shares you are expected to receive £122 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?
  • Polar Capital Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.94%).
  • Polar Capital Holdings's dividend is above 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:POLR 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:POLR Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 0.38 4.00
2021-03-31 0.35 4.00
2020-03-31 0.34 4.00
2019-11-12
AIM:POLR Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-06-24 0.330 6.120
2019-06-21 0.330 5.585
2018-06-28 0.280 5.100
2018-06-25 0.280 4.030
2017-06-30 0.250 5.132
2017-06-27 0.250 5.632
2016-07-01 0.250 7.533
2016-06-24 0.250 8.350
2015-06-26 0.250 6.631
2015-06-22 0.250 5.355
2014-06-20 0.250 6.010
2014-06-19 0.250 5.208
2013-08-01 0.128 2.680
2013-06-14 0.130 3.274
2012-06-13 0.090 3.953
2012-04-30 0.090 4.713
2011-07-07 0.075 3.917
2011-06-14 0.075 3.880
2010-06-23 0.045 3.664
2009-06-24 0.045 5.460
2008-12-12 0.080 17.001

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 Polar Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Polar Capital Holdings'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 Polar Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polar Capital Holdings has a total score of 5/6, see the detailed checks below.


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

POLR Management

 What is the CEO of Polar Capital Holdings'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
Gavin Rochussen
COMPENSATION £965,000
AGE 59
TENURE AS CEO 2.3 years
CEO Bio

Mr. Gavin Mark Rochussen is Chief Executive Officer and Executive Director of Polar Capital Holdings plc since joining on July 17, 2017. Mr. Rochussen is Chief Executive Officer at Polar Capital LLP. He is Group Executive of International at BT Investment Management Limited from October 3, 2016 to January 17, 2017. He was a Founding Partner at Anderson Rochussen Crisp Inc. and led the firm from 1984 to 1996. Mr. Rochussen is Group Chief Executive Officer and Director of J O Hambro Capital Management Group Limited and J O Hambro Capital Management Limited. He left the firm in January 2017. He focused on driving and implementing the firm's growth strategy in international markets. Mr. Rochussen was employed at Denel Informatics. Prior to that, he is the Group Chief Executive Officer and Director of Fleming Family & Partners Ltd. since 2003 and was previously the Finance Director since 2002. Previously, between 1998 and 2001, Mr. Rochussen is the Group Finance Director and Director of Allied Electronics Corporation Limited. Prior to that, he established a consulting practice, where he provided a broad range of corporate advisory services. He has extensive experience in the financial industry. Mr. Rochussen is Director of FF&P Asset Management Limited. He is Director at Stonehage Fleming Private Equity Limited. Gavin isdvisor to Amigona Holdings Inc., an Independent Adviser to James Hambro & Partners LLP and a Governor at Tonbridge School. He qualified as a Chartered Accountant in 1983. Mr. Rochussen holds a Bachelor of Commerce and Bachelor of Accountancy from the University of Witwatersrand in 1982.

CEO Compensation
  • Gavin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Gavin'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 Polar Capital Holdings management team in years:

1.4
Average Tenure
60
Average Age
  • The average tenure for the Polar Capital Holdings management team is less than 2 years, this suggests a new team.
Management Team

Gavin Rochussen

TITLE
CEO & Executive Director
COMPENSATION
£965K
AGE
59
TENURE
2.3 yrs

Brian Jonathan Ashford-Russell

TITLE
Founder & Non-Executive Director
COMPENSATION
£57K
AGE
60

John Mansell

TITLE
Executive Director
COMPENSATION
£785K
AGE
60

Samir Ayub

TITLE
Group Finance Director
TENURE
0.3 yrs

Nick Farren

TITLE
Chief Operating Officer
TENURE
0.3 yrs

Andy Chen

TITLE
Head of Research
TENURE
1.4 yrs

James Brandt

TITLE
Director of Sales

Jorry Nøddekær

TITLE
Head of the EM and Asian Team
TENURE
1.4 yrs

Peter Leane

TITLE
Head of Nordic Region
TENURE
1.4 yrs

Neil Taylor

TITLE
Group Company Secretary
Board of Directors Tenure

Average tenure and age of the Polar Capital Holdings board of directors in years:

12.2
Average Tenure
60
Average Age
  • The average tenure for the Polar Capital Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Tom Bartlam

TITLE
Non-Executive Chairman
COMPENSATION
£100K
AGE
72
TENURE
12.2 yrs

Gavin Rochussen

TITLE
CEO & Executive Director
COMPENSATION
£965K
AGE
59
TENURE
2.3 yrs

Brian Jonathan Ashford-Russell

TITLE
Founder & Non-Executive Director
COMPENSATION
£57K
AGE
60
TENURE
17.7 yrs

John Mansell

TITLE
Executive Director
COMPENSATION
£785K
AGE
60
TENURE
17.3 yrs

Win Robbins

TITLE
Non-Executive Director
COMPENSATION
£42K
AGE
63
TENURE
2.4 yrs

Alexa Coates

TITLE
Non-Executive Director
COMPENSATION
£31K
AGE
49
TENURE
1.3 yrs

Jamie Cayzer-Colvin

TITLE
Non-Executive Director
COMPENSATION
£20K
AGE
53
TENURE
17.7 yrs

Robert Bovet

TITLE
Director of Polar Capital Funds Plc
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 (£)
02. May 19 Buy John Mansell Individual 01. May 19 01. May 19 26,496 £5.77 £152,882
02. May 19 Buy Gavin Rochussen Individual 01. May 19 01. May 19 31,795 £5.77 £183,457
19. Mar 19 Sell Brian Jonathan Ashford-Russell Individual 19. Mar 19 19. Mar 19 -150,000 £5.10 £-765,000
10. Jan 19 Sell Brian Jonathan Ashford-Russell Individual 10. Jan 19 10. Jan 19 -250,000 £4.85 £-1,212,500
X
Management checks
We assess Polar Capital Holdings'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. Polar Capital Holdings 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.

POLR News

Simply Wall St News

Should You Be Tempted To Sell Polar Capital Holdings plc (LON:POLR) Because Of Its PE Ratio?

Polar Capital Holdings plc (LON:POLR) trades with a trailing P/E of 17.9x, which is higher than the industry average of 16.2x. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … View our latest analysis for Polar Capital Holdings

Simply Wall St -

How Does Polar Capital Holdings plc (LON:POLR) Compare To The Financial Sector?

Polar Capital Holdings plc (LON:POLR), a UK£610.30m. … is a capital market firm operating in an industry, … Many aspects of banking and capital markets are being attacked by new competitors, whose key advantage is a leaner and technology-enabled operating model, allowing them to scale at a faster rate and meet changing consumer needs

Simply Wall St -

Polar Capital Holdings plc (LON:POLR): What You Have To Know Before Buying For The Upcoming Dividend

Investors who want to cash in on Polar Capital Holdings plc's (LON:POLR) upcoming dividend of UK£0.22 per share have only 2 days left to buy the shares before its ex-dividend date, 05 July 2018, in time for dividends payable on the 27 July 2018. … Is this future income a persuasive enough catalyst for investors to think about Polar Capital Holdings as an investment today? … See our latest analysis for Polar Capital Holdings

Simply Wall St -

Does Polar Capital Holdings plc (LON:POLR) Have A Place In Your Portfolio?

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Over the past 10 years, Polar Capital Holdings plc (LON:POLR) has returned an average of 6.00% per year to shareholders in terms of dividend yield. … Let's take a look at Polar Capital Holdings in more detail.

Simply Wall St -

Polar Capital Holdings plc (LON:POLR): A Fundamentally Attractive Investment

I've been keeping an eye on Polar Capital Holdings plc (LON:POLR) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe POLR has a lot to offer. … is a company with great financial health as well as a.

Simply Wall St -

Is There Now An Opportunity In Polar Capital Holdings plc (LON:POLR)?

Polar Capital Holdings plc (AIM:POLR), a capital markets company based in United Kingdom, led the AIM gainers with a relatively large price hike in the past couple of weeks. … Another thing to keep in mind is that Polar Capital Holdings’s share price is quite stable relative to the rest of the market, as indicated by its low beta. … POLR’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

Is Polar Capital Holdings plc (LON:POLR) An Attractive Dividend Stock?

Does Polar Capital Holdings tick all the boxes of a great dividend stock? … Check out our latest analysis for Polar Capital Holdings 5 checks you should do on a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is their annual yield among the top 25% of dividend payers? … Relative to peers, Polar Capital Holdings has a yield of 4.72%, which is high for Capital Markets stocks.Next Steps: Taking into account the dividend metrics, Polar Capital Holdings ticks most of the boxes as a strong dividend investment, putting it in my list of top dividend payers.

Simply Wall St -

Did Polar Capital Holdings plc's (LON:POLR) Recent Earnings Growth Beat The Trend?

Examining Polar Capital Holdings plc's (AIM:POLR) past track record of performance is a valuable exercise for investors. … See our latest analysis for Polar Capital Holdings How Did POLR's Recent Performance Stack Up Against Its Past? … This means whatever tailwind the industry is enjoying, Polar Capital Holdings is able to amplify this to its advantage.What does this mean?

Simply Wall St -

Should You Sell Polar Capital Holdings plc (LON:POLR) At This PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for POLR Price per share = £5 Earnings per share = £0.213 ∴ Price-Earnings Ratio = £5 ÷ £0.213 = 23.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … We preferably want to compare the stock’s P/E ratio to the average of companies that have similar features to POLR, such as capital structure and profitability. … For example, if you are inadvertently comparing riskier firms with POLR, then POLR’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

Simply Wall St -

Is Polar Capital Holdings plc's (LON:POLR) Stock Available For A Good Price After Accounting For Growth?

As the legendary value investor Ben Graham once said, “Price is what you pay, value is what you get.” Polar Capital Holdings is trading at price-to-earnings (PE) ratio of 25.05x, which tells us the stock is overvalued based on current earnings compared to the capital markets industry average of 17.79x , and overvalued compared to the GB market average ratio of 18.25x. … However, to properly examine the value of a high-growth stock such as Polar Capital Holdings, we must reflect its earnings growth into the valuation. … This tells us that when including its growth in our analysis Polar Capital Holdings's stock can be considered slightly overvalued , based on its fundamentals.

Simply Wall St -

POLR Company Info

Description

Polar Capital Holdings plc is a publicly owned investment manager. The firm provides its services to professional and institutional investors. It launches and manages equity and balanced mutual funds. The firm also launches and manages hedge funds for its clients. Polar Capital Holdings plc was founded in December 2000 and is based in London, United Kingdom with an additional office in Tokyo, Japan.

Details
Name: Polar Capital Holdings plc
POLR
Exchange: AIM
Founded: 2000
£502,377,276
93,032,829
Website: http://www.polarcapital.co.uk
Address: Polar Capital Holdings plc
4 Matthew Parker Street,
London,
Greater London, SW1H 9NP,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM POLR Ordinary Shares London Stock Exchange AIM Market GB GBP 06. Feb 2007
OTCPK PLRR.F Ordinary Shares Pink Sheets LLC US USD 06. Feb 2007
Number of employees
Current staff
Staff numbers
135
Polar Capital Holdings 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 20:55
End of day share price update: 2019/11/12 00:00
Last estimates confirmation: 2019/11/11
Last earnings filing: 2019/06/21
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.