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Marshalls

BATS-CHIXE:MSLHl
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSLHl
BATS-CHIXE
£1B
Market Cap
  1. Home
  2. GB
  3. Materials
Company description

Marshalls plc manufactures and supplies hard landscaping products in the United Kingdom and internationally. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Marshalls has significant price volatility in the past 3 months.
MSLHl Share Price and Events
7 Day Returns
-6.7%
BATS-CHIXE:MSLHl
-8.1%
GB Basic Materials
-5.4%
GB Market
1 Year Returns
-16.1%
BATS-CHIXE:MSLHl
-36.2%
GB Basic Materials
-25.2%
GB Market
MSLHl Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Marshalls (MSLHl) -6.7% -26.8% -38.4% -16.1% 47.5% 90.8%
GB Basic Materials -8.1% -34% -42% -36.2% -15.2% 22.3%
GB Market -5.4% -20.6% -29.1% -25.2% -25.9% -25.1%
1 Year Return vs Industry and Market
  • MSLHl outperformed the Basic Materials industry which returned -36.2% over the past year.
  • MSLHl outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -25.2% over the past year.
Price Volatility
MSLHl
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Marshalls 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 Marshalls 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 Marshalls.

BATS-CHIXE:MSLHl Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year GB Government Bond Rate 0.5%

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 BATS-CHIXE:MSLHl
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Basic Materials Unlevered Beta Simply Wall St/ S&P Global 0.82
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.824 (1 + (1- 19%) (10.99%))
0.931
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.931 * 6.07%)
6.18%

Discounted Cash Flow Calculation for BATS-CHIXE:MSLHl using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Marshalls 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.

BATS-CHIXE:MSLHl DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.18%)
2020 53.00 Analyst x1 49.91
2021 59.00 Analyst x1 52.33
2022 63.17 Est @ 7.06% 52.76
2023 66.39 Est @ 5.1% 52.23
2024 68.87 Est @ 3.73% 51.02
2025 70.78 Est @ 2.77% 49.38
2026 72.26 Est @ 2.1% 47.48
2027 73.44 Est @ 1.63% 45.44
2028 74.39 Est @ 1.3% 43.35
2029 75.19 Est @ 1.07% 41.26
Present value of next 10 years cash flows £485.00
BATS-CHIXE:MSLHl DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £75.19 × (1 + 0.53%) ÷ (6.18% – 0.53%)
£1,337.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £1,337.01 ÷ (1 + 6.18%)10
£733.79
BATS-CHIXE:MSLHl Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £485.00 + £733.79
£1,218.79
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £1,218.79 / 198.32
£6.15
BATS-CHIXE:MSLHl Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:MSLHl represents 1.01444x of LSE:MSLH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01444x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 6.15 x 1.01444
£6.23
Value per share (GBP) From above. £6.23
Current discount Discount to share price of £5.27
= -1 x (£5.27 - £6.23) / £6.23
15.5%

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

Current Discount
Amount off the current price Marshalls is available for.
Intrinsic value
15%
Share price is £5.27 vs Future cash flow value of £6.23
Current Discount Checks
For Marshalls to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Marshalls's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Marshalls's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Marshalls's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Marshalls's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:MSLHl PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in GBP £0.29
LSE:MSLH Share Price ** LSE (2020-04-02) in GBP £5.2
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PE Ratio Median Figure of 9 Publicly-Listed Basic Materials Companies 9.64x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 12.44x

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

** Primary Listing of Marshalls.

BATS-CHIXE:MSLHl PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:MSLH Share Price ÷ EPS (both in GBP)

= 5.2 ÷ 0.29

17.69x

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

  • Marshalls is overvalued based on earnings compared to the GB Basic Materials industry average.
  • Marshalls is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Marshalls's expected growth come at a high price?
Raw Data
BATS-CHIXE:MSLHl PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
0.5%per year
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PEG Ratio Median Figure of 6 Publicly-Listed Basic Materials Companies 2.25x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 0.97x

*Line of best fit is calculated by linear regression .

BATS-CHIXE:MSLHl PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.69x ÷ 0.5%

38.8x

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

  • Marshalls is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Marshalls's assets?
Raw Data
BATS-CHIXE:MSLHl PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in GBP £1.49
LSE:MSLH Share Price * LSE (2020-04-02) in GBP £5.2
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry PB Ratio Median Figure of 10 Publicly-Listed Basic Materials Companies 1.23x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.07x
BATS-CHIXE:MSLHl PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:MSLH Share Price ÷ Book Value per Share (both in GBP)

= 5.2 ÷ 1.49

3.49x

* Primary Listing of Marshalls.

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

  • Marshalls is overvalued based on assets compared to the GB Basic Materials industry average.
X
Value checks
We assess Marshalls'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. Marshalls has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

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

Future Performance

 How is Marshalls expected to perform in the next 1 to 3 years based on estimates from 4 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
0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Marshalls expected to grow at an attractive rate?
  • Marshalls's earnings growth is positive but not above the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Marshalls's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Marshalls's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:MSLHl Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:MSLHl Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 0.5%
BATS-CHIXE:MSLHl Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.9%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Earnings Growth Rate Market Cap Weighted Average 3.3%
United Kingdom of Great Britain and Northern Ireland Basic Materials Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.3%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.4%

*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
BATS-CHIXE:MSLHl Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BATS-CHIXE:MSLHl Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 591 87 60 3
2021-12-31 567 88 58 4
2020-12-31 534 60 45 3
2020-04-03
BATS-CHIXE:MSLHl Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-12-31 542 88 58
2019-09-30 534 81 57
2019-06-30 527 74 56
2019-03-31 509 68 54
2018-12-31 491 63 52
2018-09-30 473 58 48
2018-06-30 455 52 45
2018-03-31 443 55 44
2017-12-31 430 57 43
2017-09-30 422 58 42
2017-06-30 414 59 41
2017-03-31 405 54 39

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Marshalls's earnings are expected to grow by 0.5% yearly, however this is not considered high growth (20% yearly).
  • Marshalls's revenue is expected to grow by 2.9% 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
BATS-CHIXE:MSLHl Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Marshalls Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:MSLHl Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.30 0.30 0.30 1.00
2021-12-31 0.29 0.31 0.27 2.00
2020-12-31 0.23 0.23 0.23 1.00
2020-04-03
BATS-CHIXE:MSLHl Past Financials Data
Date (Data in GBP Millions) EPS *
2019-12-31 0.29
2019-09-30 0.29
2019-06-30 0.28
2019-03-31 0.27
2018-12-31 0.26
2018-09-30 0.24
2018-06-30 0.23
2018-03-31 0.22
2017-12-31 0.22
2017-09-30 0.21
2017-06-30 0.21
2017-03-31 0.20

*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.
  • Marshalls is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Marshalls'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.
Marshalls has a total score of 1/6, see the detailed checks below.

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

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

Past Performance

  How has Marshalls 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 Marshalls'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.
  • Marshalls's year on year earnings growth rate has been positive over the past 5 years.
  • Marshalls's 1-year earnings growth is less than its 5-year average (12.1% vs 19.2%)
  • Marshalls's earnings growth has not exceeded the GB Basic Materials industry average in the past year (12.1% vs 27.3%).
Earnings and Revenue History
Marshalls'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 Marshalls Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:MSLHl Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 541.83 58.24 128.76
2019-09-30 534.29 57.07 116.50
2019-06-30 526.76 55.90 113.15
2019-03-31 508.87 53.93 113.44
2018-12-31 490.99 51.96 113.74
2018-09-30 473.20 48.42 108.17
2018-06-30 455.40 44.88 111.52
2018-03-31 442.80 43.69 103.75
2017-12-31 430.19 42.50 95.97
2017-09-30 421.94 41.61 96.10
2017-06-30 413.68 40.72 96.22
2017-03-31 405.30 39.03 95.52
2016-12-31 396.92 37.35 94.82
2016-09-30 393.22 34.60 95.23
2016-06-30 389.51 31.85 95.64
2016-03-31 387.86 30.00 95.13
2015-12-31 386.20 28.15 94.63
2015-09-30 381.92 26.37 94.05
2015-06-30 377.63 24.59 93.46
2015-03-31 368.07 22.23 91.94
2014-12-31 358.52 19.86 90.43
2014-09-30 344.67 19.00 88.32
2014-06-30 330.83 18.15 86.21
2014-03-31 319.11 15.87 82.30
2013-12-31 307.39 13.59 78.40
2013-09-30 300.87 11.26 76.96
2013-06-30 294.35 8.92 75.53

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

Health

 How is Marshalls'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 Marshalls's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Marshalls is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Marshalls's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Marshalls'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 covered by short term assets, assets are 3x 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 Marshalls Company Filings, last reported 3 months ago.

BATS-CHIXE:MSLHl Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 295.77 71.27 53.26
2019-09-30 295.77 71.27 53.26
2019-06-30 278.17 65.99 11.17
2019-03-31 278.17 65.99 11.17
2018-12-31 266.72 82.20 45.99
2018-09-30 266.72 82.20 45.99
2018-06-30 244.58 69.26 20.62
2018-03-31 244.58 69.26 20.62
2017-12-31 237.63 43.88 20.29
2017-09-30 237.63 43.88 20.29
2017-06-30 222.64 25.68 26.86
2017-03-31 222.64 25.68 26.86
2016-12-31 217.12 14.98 21.34
2016-09-30 217.12 14.98 21.34
2016-06-30 204.87 34.64 25.63
2016-03-31 204.87 34.64 25.63
2015-12-31 192.72 38.27 24.99
2015-09-30 192.72 38.27 24.99
2015-06-30 183.96 54.79 20.50
2015-03-31 183.96 54.79 20.50
2014-12-31 181.89 53.50 20.32
2014-09-30 181.89 53.50 20.32
2014-06-30 177.01 54.56 3.79
2014-03-31 177.01 54.56 3.79
2013-12-31 175.43 53.28 17.65
2013-09-30 175.43 53.28 17.65
2013-06-30 182.69 62.15 9.44
  • Marshalls's level of debt (24.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (29.4% vs 24.1% today).
  • Debt is well covered by operating cash flow (123.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22.6x coverage).
X
Financial health checks
We assess Marshalls'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. Marshalls has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

Dividends

 What is Marshalls's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.76%
Current annual income from Marshalls dividends. Estimated to be 3.31% next year.
If you bought £2,000 of Marshalls shares you are expected to receive £55 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?
  • Marshalls's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.68%).
  • Marshalls's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.57%).
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
BATS-CHIXE:MSLHl 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 4 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 5.6%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 608 Stocks 5.7%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.4%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.7%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:MSLHl Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.18 3.00
2021-12-31 0.17 5.00
2020-12-31 0.16 5.00
2020-04-03
BATS-CHIXE:MSLHl Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-12 0.144 2.347
2019-03-14 0.120 1.727
2018-08-16 0.108 2.340
2018-05-09 0.102 2.403
2017-03-31 0.087 2.096
2017-03-15 0.087 2.476
2016-03-24 0.070 2.401
2016-03-11 0.070 2.050
2015-04-09 0.060 1.907
2015-03-06 0.060 2.262
2014-08-29 0.055 2.518
2014-04-10 0.053 3.061
2014-03-26 0.053 2.872
2013-03-08 0.053 3.416
2012-03-09 0.053 5.656
2011-03-11 0.053 5.190
2010-04-09 0.053 5.213
2010-03-05 0.053 5.695

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Marshalls's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Marshalls's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Marshalls afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Marshalls 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.

Management

 What is the CEO of Marshalls'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
Martyn Coffey
COMPENSATION £1,602,000
AGE 57
TENURE AS CEO 6.5 years
CEO Bio

Mr. Martyn Coffey has been the Chief Executive Officer of Marshalls plc since October 10, 2013. Mr. Coffey is an Officer of the Construction Products Association. He served as the Group Chief Executive Officer of Baxi Group Limited since January 30, 2008 and also served as its Managing Director of UK business. He served as Chief Executive Officer of UK at Heating Finance PLC since 2005. He served as a Member of the Management Board and Divisional Chief Executive Officer at BDR Thermea Group B.V. He served at Baxi Group Ltd. as Chief Executive Officer of UK and Ireland since April 2005. He worked for 5 years overseas with Baxi Group Limited, in the United States, Canada and Australia. He served as the Managing Director and Chief Executive of Pirelli Cables UK. He worked in ITT Group. He has been an Executive Director of Marshalls plc since September 10, 2013. He serves as a Director of the Mineral Products Association. He has been an Independent Non-Executive Director at Eurocell plc since February 4, 2015. Mr. Coffey served as an Executive Director at Baxi Group Limited. He graduated in Mathematics in 1984.

CEO Compensation
  • Martyn's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Martyn's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure of the Marshalls management team in years:

6.5
Average Tenure
  • The average tenure for the Marshalls management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Martyn Coffey

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
57
TENURE
6.5 yrs

Jack Clarke

TITLE
Group Finance Director & Director
COMPENSATION
£1M
TENURE
5.5 yrs

Chris Harrop

TITLE
Group Marketing Director

Cathy Baxandall

TITLE
Group Company Secretary
TENURE
11.8 yrs
Board of Directors Tenure

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

3.9
Average Tenure
58
Average Age
  • The tenure for the Marshalls board of directors is about average.
Board of Directors

Vanda Murray

TITLE
Independent Chairman of the Board
COMPENSATION
£107K
AGE
58
TENURE
1.9 yrs

Martyn Coffey

TITLE
CEO & Executive Director
COMPENSATION
£2M
AGE
57
TENURE
6.6 yrs

Jack Clarke

TITLE
Group Finance Director & Director
COMPENSATION
£1M
TENURE
5.5 yrs

Janet Ashdown

TITLE
Senior Independent Non-Executive Director
COMPENSATION
£56K
AGE
60
TENURE
3.9 yrs

Graham Prothero

TITLE
Non-Executive Director
COMPENSATION
£54K
AGE
57
TENURE
2.9 yrs

Tim Pile

TITLE
Independent Non-Executive Director
COMPENSATION
£47K
AGE
66
TENURE
9.5 yrs

Angela Bromfield

TITLE
Additional Non-Executive Director
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Marshalls individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
12. Mar 20 Buy Martyn Coffey Individual 12. Mar 20 12. Mar 20 3,000 £6.46 £19,380
12. Mar 20 Buy Vanda Murray Individual 12. Mar 20 12. Mar 20 7,000 £6.56 £45,920
12. Mar 20 Buy Jack Clarke Individual 12. Mar 20 12. Mar 20 1,924 £6.45 £12,410
23. Aug 19 Sell Martyn Coffey Individual 22. Aug 19 22. Aug 19 -118,498 £6.79 £-804,601
X
Management checks
We assess Marshalls'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. Marshalls has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

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

News

Simply Wall St News

Company Info

Description

Marshalls plc manufactures and supplies hard landscaping products in the United Kingdom and internationally. It operates through Landscape Products and Others segments. The company offers interior, garden, and driveways products, including garden paving, driveways, garden paths, kerbs and edging products, and garden walling products; and interior tiles and stones. It also provides landscaping solutions for the commercial construction sector, such as paving, kerb, linear drainage, walling, landscape protection, landscape furniture, mortar and screed, aggregate, sand and block stone, masonry and façade, and traffic calming products. In addition, the company engages in the property management activities; supply of street furniture; sourcing and distribution of natural stone products; and operation of a quarry, as well as supply of various paving products. It provides its products to local authorities, commercial architects, specifiers, contractors, house builders, DIY enthusiasts, professional landscapers, driveway installers, and garden designers. The company was founded in 1890 and is headquartered in Halifax, the United Kingdom.

Details
Name: Marshalls plc
MSLHl
Exchange: BATS-CHIXE
Founded: 1890
£1,030,251,329
198,315,944
Website: http://www.marshalls.co.uk
Address: Marshalls plc
Landscape House,
Premier Way,
Halifax,
West Yorkshire, HX5 9HT,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE MSLH Ordinary Shares London Stock Exchange GB GBP 08. Jul 2004
BATS-CHIXE MSLHl Ordinary Shares BATS 'Chi-X Europe' GB GBP 08. Jul 2004
Number of employees
Current staff
Staff numbers
2,790
Marshalls employees.
Industry
Construction Materials
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 20:07
End of day share price update: 2020/04/02 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/12
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.