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SigmaRoc

AIM:SRC
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SRC
AIM
£115M
Market Cap
  1. Home
  2. GB
  3. Materials
Company description

SigmaRoc plc invests in and/or acquires projects in the construction materials sector in the United Kingdom, Guernsey, and Jersey. The last earnings update was 42 days ago. More info.


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SRC Share Price and Events
7 Day Returns
-0.7%
AIM:SRC
0.9%
GB Basic Materials
0.5%
GB Market
1 Year Returns
14.4%
AIM:SRC
8.3%
GB Basic Materials
2.8%
GB Market
SRC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SigmaRoc (SRC) -0.7% 10.2% 15.3% 14.4% 12.9% -3.4%
GB Basic Materials 0.9% -2.2% 6.3% 8.3% 27.6% 61.2%
GB Market 0.5% 1.7% 3.7% 2.8% 8.5% 4.3%
1 Year Return vs Industry and Market
  • SRC outperformed the Basic Materials industry which returned 8.3% over the past year.
  • SRC outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.8% over the past year.
Price Volatility
SRC
Industry
5yr Volatility vs Market

SRC Value

 Is SigmaRoc 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 SigmaRoc 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 SigmaRoc.

AIM:SRC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
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:SRC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.898 (1 + (1- 19%) (23.48%))
1.046
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.046 * 6.65%)
8.18%

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

The calculations below outline how an intrinsic value for SigmaRoc is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

AIM:SRC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 8.18%)
2020 11.07 Analyst x1 10.23
2021 13.31 Analyst x1 11.38
2022 14.94 Est @ 12.22% 11.80
2023 16.27 Est @ 8.92% 11.88
2024 17.35 Est @ 6.61% 11.71
2025 18.22 Est @ 5% 11.36
2026 18.92 Est @ 3.87% 10.91
2027 19.50 Est @ 3.07% 10.40
2028 19.99 Est @ 2.52% 9.85
2029 20.42 Est @ 2.13% 9.30
Present value of next 10 years cash flows £108.00
AIM:SRC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £20.42 × (1 + 1.23%) ÷ (8.18% – 1.23%)
£297.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £297.19 ÷ (1 + 8.18%)10
£135.35
AIM:SRC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £108.00 + £135.35
£243.35
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £243.35 / 253.74
£0.96
AIM:SRC Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.96
Current discount Discount to share price of £0.45
= -1 x (£0.45 - £0.96) / £0.96
52.9%

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

Current Discount
Amount off the current price SigmaRoc is available for.
Intrinsic value
>50%
Share price is £0.452 vs Future cash flow value of £0.95907
Current Discount Checks
For SigmaRoc to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SigmaRoc's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SigmaRoc'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 SigmaRoc's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SigmaRoc's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:SRC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.02
AIM:SRC Share Price ** AIM (2019-11-11) in GBP £0.45
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PE Ratio Median Figure of 9 Publicly-Listed Basic Materials Companies 13.3x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 752 Publicly-Listed Companies 16.8x

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

** Primary Listing of SigmaRoc.

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

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

= 0.45 ÷ 0.02

23.93x

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

  • SigmaRoc is overvalued based on earnings compared to the GB Basic Materials industry average.
  • SigmaRoc is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does SigmaRoc's expected growth come at a high price?
Raw Data
AIM:SRC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
37.9%per year
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PEG Ratio Median Figure of 6 Publicly-Listed Basic Materials Companies 2.33x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 555 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for SigmaRoc, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on SigmaRoc's assets?
Raw Data
AIM:SRC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £0.41
AIM:SRC Share Price * AIM (2019-11-11) in GBP £0.45
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PB Ratio Median Figure of 10 Publicly-Listed Basic Materials Companies 1.46x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.5x
AIM:SRC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.45 ÷ 0.41

1.12x

* Primary Listing of SigmaRoc.

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

  • SigmaRoc is good value based on assets compared to the GB Basic Materials industry average.
X
Value checks
We assess SigmaRoc'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 Basic Materials 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 Basic Materials industry average (and greater than 0)? (1 check)
  5. SigmaRoc has a total score of 3/6, 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.

SRC Future Performance

 How is SigmaRoc expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover SigmaRoc, future earnings growth has been estimated based on fundamentals.
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
37.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SigmaRoc expected to grow at an attractive rate?
  • SigmaRoc's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • SigmaRoc's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • SigmaRoc'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:SRC Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:SRC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 37.9%
AIM:SRC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 38.9%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.8%

*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:SRC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:SRC Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 139 1
2020-12-31 119 1
2019-12-31 68 1
2019-11-11
AIM:SRC Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 51 1 3
2019-03-31 46 3 3
2018-12-31 41 5 4
2018-09-30 38 3 3
2018-06-30 34 1 2
2018-03-31 30 1 1
2017-12-31 27 0 0
2017-09-30 20 -1 -1
2017-06-30 13 -1 -2
2017-03-31 7 -1 -2
2016-12-31 0 0 -2
2016-09-30 1 0 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SigmaRoc's earnings are expected to grow significantly at over 20% yearly.
  • SigmaRoc's revenue is expected to grow significantly at over 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:SRC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

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

AIM:SRC Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-11-11
AIM:SRC Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.02
2019-03-31 0.02
2018-12-31 0.03
2018-09-30 0.02
2018-06-30 0.02
2018-03-31 0.01
2017-12-31 0.00
2017-09-30 -0.01
2017-06-30 -0.11
2017-03-31 -0.21
2016-12-31 -1.46
2016-09-30 -0.47

*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 SigmaRoc will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess SigmaRoc'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.
SigmaRoc has a total score of 5/6, 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.

SRC Past Performance

  How has SigmaRoc 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 SigmaRoc's growth in the last year to its industry (Basic Materials).
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.
  • SigmaRoc has delivered over 20% year on year earnings growth in the past 5 years.
  • SigmaRoc's 1-year earnings growth is less than its 5-year average (27.3% vs 58.7%)
  • SigmaRoc's earnings growth has not exceeded the GB Basic Materials industry average in the past year (27.3% vs 30.3%).
Earnings and Revenue History
SigmaRoc'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 SigmaRoc Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:SRC 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 51.08 2.88 7.76
2019-03-31 46.16 3.25 6.64
2018-12-31 41.24 3.62 5.53
2018-09-30 37.55 2.94 4.60
2018-06-30 33.87 2.27 3.68
2018-03-31 30.47 1.31 3.14
2017-12-31 27.07 0.36 2.59
2017-09-30 20.11 -0.98 2.83
2017-06-30 13.14 -2.32 3.07
2017-03-31 6.59 -2.36 2.52
2016-12-31 0.04 -2.40 1.98
2016-09-30 0.90 -1.22 1.32 0.24
2016-06-30 1.77 -0.03 0.66 0.49
2016-03-31 2.62 -0.15 0.99 0.75
2015-12-31 3.47 -0.28 1.32 1.01
2015-09-30 3.48 -1.53 1.38 1.04
2015-06-30 3.49 -2.79 1.45 1.08
2015-03-31 3.55 -2.84 1.43 1.16
2014-12-31 3.61 -2.89 1.42 1.24
2014-09-30 3.61 -1.56 1.34 1.23
2014-06-30 3.62 -0.23 1.26 1.23
2014-03-31 3.70 -0.16 1.23 1.21
2013-12-31 3.78 -0.09 1.20 1.19
2013-09-30 3.91 0.03 1.22 1.14
2013-06-30 4.04 0.15 1.24 1.10
2013-03-31 3.91 0.21 1.21 1.01
2012-12-31 3.77 0.27 1.18 0.92

*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.
  • SigmaRoc has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SigmaRoc used its assets less efficiently than the GB Basic Materials industry average last year based on Return on Assets.
  • SigmaRoc has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SigmaRoc'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 Basic Materials 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.
SigmaRoc has a total score of 2/6, 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.

SRC Health

 How is SigmaRoc'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 SigmaRoc's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SigmaRoc is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • SigmaRoc's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of SigmaRoc's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x 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 SigmaRoc Company Filings, last reported 4 months ago.

AIM:SRC Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 70.46 25.84 3.58
2019-03-31 70.46 25.84 3.58
2018-12-31 54.13 19.66 3.77
2018-09-30 54.13 19.66 3.77
2018-06-30 52.69 19.62 3.37
2018-03-31 52.69 19.62 3.37
2017-12-31 50.53 18.57 7.00
2017-09-30 50.53 18.57 7.00
2017-06-30 37.68 10.00 1.77
2017-03-31 37.68 10.00 1.77
2016-12-31 -1.43 0.00 0.18
2016-09-30 -1.43 0.00 0.18
2016-06-30 1.23 0.39 1.10
2016-03-31 1.23 0.39 1.10
2015-12-31 0.91 0.46 0.74
2015-09-30 0.91 0.46 0.74
2015-06-30 1.06 0.53 0.68
2015-03-31 1.06 0.53 0.68
2014-12-31 1.19 0.11 0.38
2014-09-30 1.19 0.11 0.38
2014-06-30 3.96 0.20 0.38
2014-03-31 3.96 0.20 0.38
2013-12-31 4.14 0.30 0.77
2013-09-30 4.14 0.30 0.77
2013-06-30 4.34 0.43 0.71
2013-03-31 4.34 0.43 0.71
2012-12-31 4.73 0.50 1.07
  • SigmaRoc's level of debt (36.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5% vs 36.7% today).
  • Debt is not well covered by operating cash flow (5.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.9x coverage).
X
Financial health checks
We assess SigmaRoc'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. SigmaRoc has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

SRC Dividends

 What is SigmaRoc'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%
Current annual income from SigmaRoc dividends. Estimated to be 0% next year.
If you bought £2,000 of SigmaRoc shares you are expected to receive £0 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?
  • Unable to evaluate SigmaRoc's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate SigmaRoc's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:SRC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.7%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 679 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 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:SRC Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2019-11-11

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

  • Unable to perform a dividend volatility check as SigmaRoc has not reported any payouts.
  • Unable to verify if SigmaRoc's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of SigmaRoc's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as SigmaRoc has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of SigmaRoc'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 SigmaRoc's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 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 SigmaRoc afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SigmaRoc 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.

SRC Management

 What is the CEO of SigmaRoc'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
Max Vermorken
COMPENSATION £288,800
AGE 35
TENURE AS CEO 3.3 years
CEO Bio

Mr. Maximilian Alphonos Marin Vermorken, also known as Max, has been Chief Executive Officer at SigmaRoc plc (also know as Messaging International plc ) since August 22, 2016. Mr. Vermorken served as the Head of Corporate Development at Spitfire Materials Ltd. (also known as Spitfire Resources Limited) from October 1, 2015 to August 18, 2016. Mr. Vermorken was strategic advisor with the world's biggest construction materials group LafargeHolcim. Prior to working for LafargeHolcim, Mr. Vermorken worked with Luxembourg-headquartered Private Equity group Genii were he reported directly to its founding principals. His last role included responsibility for the hive-down and integration of two large asset portfolios - a mix which included two cement plants and a multitude of down-stream aggregates and construction materials assets - in the context of the global merger of Lafarge SA and Holcim Ltd. He has been a Director at SigmaRoc plc (also know as Messaging International plc ) since August 22, 2016. He is a Seasoned Transaction and Construction Materials Expert. He serves as Director of Skyeye Consulting Limited and Reel Raise Limited. He served as Director of Skyeye Capital Limited. He holds a PhD in Financial Economics from University College London and Bachelor and Master degrees in both Civil Engineering and Financial Economics and Management, from University College London and the University of Brussels respectively.

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

2.8
Average Tenure
38
Average Age
  • The tenure for the SigmaRoc management team is about average.
Management Team

David Barrett

TITLE
Executive Chairman
COMPENSATION
£204K
AGE
61
TENURE
2.8 yrs

Max Vermorken

TITLE
CEO & Executive Director
COMPENSATION
£289K
AGE
35
TENURE
3.3 yrs

Garth Palmer

TITLE
CFO, Finance Director & Executive Director
COMPENSATION
£66K
AGE
38

David McClelland

TITLE
Managing Director
TENURE
0.8 yrs
Board of Directors Tenure

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

2.8
Average Tenure
43
Average Age
  • The average tenure for the SigmaRoc board of directors is less than 3 years, this suggests a new board.
Board of Directors

David Barrett

TITLE
Executive Chairman
COMPENSATION
£204K
AGE
61
TENURE
2.8 yrs

Max Vermorken

TITLE
CEO & Executive Director
COMPENSATION
£289K
AGE
35
TENURE
3.3 yrs

Garth Palmer

TITLE
CFO, Finance Director & Executive Director
COMPENSATION
£66K
AGE
38
TENURE
2.8 yrs

Dominic Traynor

TITLE
Non-Executive Director
COMPENSATION
£28K
AGE
43
TENURE
3.3 yrs

Patrick Dolberg

TITLE
Non-Executive Director
COMPENSATION
£25K
AGE
64
TENURE
2.8 yrs

Tim Hall

TITLE
Non-Executive Director
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by SigmaRoc individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
16. Oct 19 Buy Charlie Trigg Individual 16. Oct 19 16. Oct 19 22,547 £0.44 £10,000
16. Oct 19 Buy Maximilian Alphonos Vermorken Individual 16. Oct 19 16. Oct 19 45,528 £0.44 £19,987
16. Oct 19 Buy Garth Palmer Individual 16. Oct 19 16. Oct 19 45,761 £0.44 £19,963
27. Jun 19 Buy David Barrett Individual 26. Jun 19 26. Jun 19 440,000 £0.44 £193,600
27. Jun 19 Buy Maximilian Alphonos Vermorken Individual 26. Jun 19 26. Jun 19 60,000 £0.44 £26,400
27. Jun 19 Buy Timothy Hall Individual 26. Jun 19 26. Jun 19 150,000 £0.44 £66,000
17. May 19 Buy Charlie Trigg Individual 16. May 19 16. May 19 10,683 £0.47 £5,000
X
Management checks
We assess SigmaRoc'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. SigmaRoc 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.

SRC News

Simply Wall St News

Have Insiders Been Buying SigmaRoc plc (LON:SRC) Shares?

For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' Check out our latest analysis for SigmaRoc The Last 12 Months Of Insider Transactions At SigmaRoc Over the last year, we can see that the biggest insider purchase was by Executive Chairman David Barrett for UK£194k worth of shares, at about UK£0.44 per share. … AIM:SRC Recent Insider Trading, August 8th 2019 SigmaRoc Insiders Bought Stock Recently Over the last quarter, SigmaRoc insiders have spent a meaningful amount on shares. … Insider Ownership of SigmaRoc Many investors like to check how much of a company is owned by insiders.

Simply Wall St -

Should SigmaRoc (LON:SRC) Be Disappointed With Their 26% Profit?

For example, the SigmaRoc plc (LON:SRC) share price is up 26% in the last three years, clearly besting than the market return of around 11% (not including dividends). … AIM:SRC Past and Future Earnings, July 25th 2019 It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. … SigmaRoc is not the only stock that insiders are buying.

Simply Wall St -

Shareholders Should Look Hard At SigmaRoc plc’s (LON:SRC) 7.8% Return On Capital

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for SigmaRoc: 0.078 = UK£5.9m ÷ (UK£84m - UK£8.6m) (Based on the trailing twelve months to December 2018.) So, SigmaRoc has an ROCE of 7.8%. … SigmaRoc's Current Liabilities And Their Impact On Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

If You Like EPS Growth Then Check Out SigmaRoc (LON:SRC) Before It's Too Late

The good news for SigmaRoc shareholders is that no insiders reported selling shares in the last year. … There are plenty of other companies that have insiders buying up shares. … So if you like the sound of SigmaRoc, you'll probably love this free list of growing companies that insiders are buying.

Simply Wall St -

What Percentage Of SigmaRoc plc (LON:SRC) Shares Do Insiders Own?

Check out our latest analysis for SigmaRoc AIM:SRC Ownership Summary, May 28th 2019 What Does The Institutional Ownership Tell Us About SigmaRoc? … Insider Ownership Of SigmaRoc The definition of company insiders can be subjective, and does vary between jurisdictions. … Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual.

Simply Wall St -

Can You Imagine How Chuffed SigmaRoc's (LON:SRC) Shareholders Feel About Its 126% Share Price Gain?

For example, the SigmaRoc plc (LON:SRC) share price has soared 126% in the last three years. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … During three years of share price growth, SigmaRoc moved from a loss to profitability.

Simply Wall St -

How Financially Strong Is SigmaRoc plc (LON:SRC)?

While small-cap stocks, such as SigmaRoc plc (LON:SRC) with its market cap of UK£74m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Examining SigmaRoc plc’s (LON:SRC) Weak Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Brief Commentary On SigmaRoc plc's (LON:SRC) Fundamentals

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … In the case of SigmaRoc plc (LON:SRC), there's

Simply Wall St -

Can SigmaRoc plc (LON:SRC) Improve Its Returns?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows SigmaRoc has a return on equity of 4.3% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

SRC Company Info

Description

SigmaRoc plc invests in and/or acquires projects in the construction materials sector in the United Kingdom, Guernsey, and Jersey. It also produces aggregates and pre-cast concrete, as well as supplies value-added construction materials; and provides shipping logistics, road contracting, and waste recycling services. The company was formerly known as Messaging International Plc and changed its name to SigmaRoc plc in August 2016. SigmaRoc plc was founded in 1999 and is headquartered in London, the United Kingdom.

Details
Name: SigmaRoc plc
SRC
Exchange: AIM
Founded: 1999
£114,690,112
253,739,186
Website: http://www.sigmaroc.com
Address: SigmaRoc plc
7-9 Swallow Street,
London,
Greater London, W1B 4DE,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM SRC Ordinary Shares London Stock Exchange AIM Market GB GBP 03. Aug 2005
AIM SRC Ord Gbp0.01 London Stock Exchange AIM Market GB GBP 11. Nov 2019
Number of employees
Current staff
Staff numbers
500
SigmaRoc employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 20:46
End of day share price update: 2019/11/11 00:00
Last estimates confirmation: 2019/11/05
Last earnings filing: 2019/09/30
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.