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Dixons Carphone

BATS-CHIXE:DCL
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DCL
BATS-CHIXE
£880M
Market Cap
  1. Home
  2. GB
  3. Retail
Company description

Dixons Carphone plc operates as a consumer electrical and mobile retailer and services company. The last earnings update was 119 days ago. More info.


Add to Portfolio Compare Print
  • Dixons Carphone has significant price volatility in the past 3 months.
DCL Share Price and Events
7 Day Returns
5.8%
BATS-CHIXE:DCL
13.7%
GB Specialty Retail
5.3%
GB Market
1 Year Returns
-48.5%
BATS-CHIXE:DCL
-26.2%
GB Specialty Retail
-21.5%
GB Market
DCL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Dixons Carphone (DCL) 5.8% -22.7% -44.9% -48.5% -76.4% -83%
GB Specialty Retail 13.7% -18.5% -37% -26.2% -36.9% -42.5%
GB Market 5.3% -6.5% -25.2% -21.5% -22.4% -21.9%
1 Year Return vs Industry and Market
  • DCL underperformed the Specialty Retail industry which returned -26.2% over the past year.
  • DCL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.5% over the past year.
Price Volatility
DCL
Industry
5yr Volatility vs Market

DCL Value

 Is Dixons Carphone 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 Dixons Carphone 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 Dixons Carphone.

BATS-CHIXE:DCL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.7%
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:DCL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.866 (1 + (1- 19%) (196.93%))
1.836
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.836 * 6.07%)
11.68%

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

The calculations below outline how an intrinsic value for Dixons Carphone 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:DCL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 11.68%)
2020 216.71 Analyst x5 194.05
2021 158.62 Analyst x5 127.18
2022 272.20 Analyst x4 195.43
2023 279.31 Est @ 2.61% 179.57
2024 284.86 Est @ 1.99% 163.98
2025 289.27 Est @ 1.55% 149.11
2026 292.87 Est @ 1.24% 135.18
2027 295.89 Est @ 1.03% 122.30
2028 298.49 Est @ 0.88% 110.47
2029 300.80 Est @ 0.77% 99.69
Present value of next 10 years cash flows £1,476.00
BATS-CHIXE:DCL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £300.80 × (1 + 0.53%) ÷ (11.68% – 0.53%)
£2,712.77
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £2,712.77 ÷ (1 + 11.68%)10
£899.02
BATS-CHIXE:DCL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £1,476.00 + £899.02
£2,375.02
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £2,375.02 / 1,161.71
£2.04
BATS-CHIXE:DCL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:DCL represents 0.94697x of LSE:DC.
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.94697x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 2.04 x 0.94697
£1.94
Value per share (GBP) From above. £1.94
Current discount Discount to share price of £0.75
= -1 x (£0.75 - £1.94) / £1.94
61.3%

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

Current Discount
Amount off the current price Dixons Carphone is available for.
Intrinsic value
>50%
Share price is £0.75 vs Future cash flow value of £1.94
Current Discount Checks
For Dixons Carphone to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Dixons Carphone's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Dixons Carphone'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 Dixons Carphone's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Dixons Carphone's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:DCL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-10-26) in GBP £0.07
LSE:DC. Share Price ** LSE (2020-04-08) in GBP £0.79
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PE Ratio Median Figure of 23 Publicly-Listed Specialty Retail Companies 8.89x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 13.27x

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

** Primary Listing of Dixons Carphone.

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

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

= 0.79 ÷ 0.07

11.62x

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

  • Dixons Carphone is overvalued based on earnings compared to the GB Specialty Retail industry average.
  • Dixons Carphone is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Dixons Carphone's expected growth come at a high price?
Raw Data
BATS-CHIXE:DCL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
70.9%per year
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PEG Ratio Median Figure of 15 Publicly-Listed Specialty Retail Companies 0.83x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 513 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.62x ÷ 70.9%

0.16x

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

  • Dixons Carphone is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Dixons Carphone's assets?
Raw Data
BATS-CHIXE:DCL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-10-26) in GBP £2.09
LSE:DC. Share Price * LSE (2020-04-08) in GBP £0.79
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry PB Ratio Median Figure of 36 Publicly-Listed Specialty Retail Companies 0.66x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.13x
BATS-CHIXE:DCL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.79 ÷ 2.09

0.38x

* Primary Listing of Dixons Carphone.

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

  • Dixons Carphone is good value based on assets compared to the GB Specialty Retail industry average.
X
Value checks
We assess Dixons Carphone'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. Dixons Carphone has a total score of 5/6, see the detailed checks below.

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

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

DCL Future Performance

 How is Dixons Carphone expected to perform in the next 1 to 3 years based on estimates from 9 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
70.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Dixons Carphone expected to grow at an attractive rate?
  • Dixons Carphone's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Dixons Carphone's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Dixons Carphone's revenues are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
BATS-CHIXE:DCL Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:DCL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 70.9%
BATS-CHIXE:DCL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts -3.8%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.4%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*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:DCL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 9 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:DCL Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-04-30 8,725 366 3
2023-04-30 8,653 552 3
2022-04-30 9,109 628 100 9
2021-04-30 9,054 424 29 9
2020-04-30 10,037 519 -41 9
2020-04-09
BATS-CHIXE:DCL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-10-26 10,253 430 79
2019-07-26 10,343 358 -116
2019-04-27 10,433 286 -311
2019-01-27 10,494 264 -294
2018-10-27 10,555 241 -276
2018-07-27 10,543 277 -20
2018-04-28 10,531 312 236
2018-01-28 10,464 363 248
2017-10-28 10,396 413 259
2017-07-28 10,322 388 283
2017-04-29 10,247 363 307
2017-01-29 10,156 378 266
2016-10-29 10,064 393 224

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Dixons Carphone's earnings are expected to grow significantly at over 20% yearly.
  • Dixons Carphone's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:DCL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Dixons Carphone Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:DCL Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-04-30
2023-04-30
2022-04-30 0.12 0.14 0.11 2.00
2021-04-30 0.02 0.07 -0.05 3.00
2020-04-30 -0.05 0.01 -0.16 3.00
2020-04-09
BATS-CHIXE:DCL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-10-26 0.07
2019-07-26 -0.10
2019-04-27 -0.27
2019-01-27 -0.25
2018-10-27 -0.24
2018-07-27 -0.02
2018-04-28 0.20
2018-01-28 0.21
2017-10-28 0.22
2017-07-28 0.25
2017-04-29 0.27
2017-01-29 0.23
2016-10-29 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.
  • Dixons Carphone is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Dixons Carphone'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.
Dixons Carphone has a total score of 3/6, 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.

DCL Past Performance

  How has Dixons Carphone 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 Dixons Carphone's growth in the last year to its industry (Specialty Retail).
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.
  • Dixons Carphone's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Dixons Carphone has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Dixons Carphone has become profitable in the last year making it difficult to compare the GB Specialty Retail industry average.
Earnings and Revenue History
Dixons Carphone'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 Dixons Carphone Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:DCL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-10-26 10,253.00 79.00 1,864.00
2019-07-26 10,343.00 -116.00 1,860.50
2019-04-27 10,433.00 -311.00 1,857.00
2019-01-27 10,494.00 -293.50 1,824.50
2018-10-27 10,555.00 -276.00 1,792.00
2018-07-27 10,543.00 -20.00 1,793.00
2018-04-28 10,531.00 236.00 1,794.00
2018-01-28 10,463.50 247.50 1,796.00
2017-10-28 10,396.00 259.00 1,798.00
2017-07-28 10,321.50 283.00 1,796.50
2017-04-29 10,247.00 307.00 1,795.00
2017-01-29 10,155.50 265.50 1,843.50
2016-10-29 10,064.00 224.00 1,892.00
2016-07-29 9,901.00 201.50 1,892.50
2016-04-30 9,738.00 179.00 1,893.00
2015-10-31 8,979.00 196.77 1,658.69
2015-05-02 7,620.00 194.77 1,647.69
2014-03-29 1,943.00 58.00 430.00
2013-12-29 1,722.05 9.15 363.10
2013-09-28 868.00 -34.00 4.00
2013-06-28 439.50 -16.00 5.50

*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.
  • Dixons Carphone has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Dixons Carphone used its assets less efficiently than the GB Specialty Retail industry average last year based on Return on Assets.
  • Dixons Carphone's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Dixons Carphone'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 Specialty Retail 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.
Dixons Carphone has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

DCL Health

 How is Dixons Carphone'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 Dixons Carphone's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Dixons Carphone's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Dixons Carphone's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Dixons Carphone'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 7.5x 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 Dixons Carphone Company Filings, last reported 5 months ago.

BATS-CHIXE:DCL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-10-26 2,428.00 343.00 135.00
2019-07-26 2,428.00 343.00 135.00
2019-04-27 2,640.00 307.00 125.00
2019-01-27 2,640.00 307.00 125.00
2018-10-27 2,598.00 309.00 119.00
2018-07-27 2,598.00 309.00 119.00
2018-04-28 3,196.00 392.00 228.00
2018-01-28 3,196.00 392.00 228.00
2017-10-28 3,109.00 408.00 290.00
2017-07-28 3,109.00 408.00 290.00
2017-04-29 3,055.00 391.00 209.00
2017-01-29 3,055.00 391.00 209.00
2016-10-29 2,904.00 411.00 215.00
2016-07-29 2,904.00 411.00 215.00
2016-04-30 2,860.00 409.00 233.00
2015-10-31 2,705.00 470.00 235.00
2015-05-02 2,763.00 385.00 163.00
2014-03-29 880.00 290.00 283.00
2013-12-29 880.00 290.00 283.00
2013-09-28 813.00 370.00 178.00
2013-06-28 813.00 370.00 178.00
  • Dixons Carphone's level of debt (14.1%) 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 (20.6% vs 14.1% today).
  • Debt is well covered by operating cash flow (125.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Dixons Carphone'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. Dixons Carphone has a total score of 4/6, 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.

DCL Dividends

 What is Dixons Carphone'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
8.52%
Current annual income from Dixons Carphone dividends. Estimated to be 6.98% next year.
If you bought £2,000 of Dixons Carphone shares you are expected to receive £170 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?
  • Dixons Carphone's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.49%).
  • Dixons Carphone's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (6.84%).
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:DCL 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 9 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.3%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 575 Stocks 5.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.3%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2.5%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 6.8%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:DCL Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-04-30 0.07 1.00
2023-04-30 0.07 1.00
2022-04-30 0.06 10.00
2021-04-30 0.05 10.00
2020-04-30 0.05 10.00
2020-04-09
BATS-CHIXE:DCL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-09-05 0.068 5.777
2018-06-21 0.113 8.013
2017-07-19 0.113 5.831
2017-06-28 0.113 4.075
2016-08-15 0.098 2.950
2015-08-05 0.085 2.016
2015-07-16 0.085 1.847
2014-07-01 0.060 1.485
2014-06-26 0.060 1.869
2013-07-24 0.050 1.793
2012-06-29 0.065 3.470
2012-06-14 0.065 4.594
2011-11-07 0.035 1.902
2011-06-14 0.050 1.358
2011-06-13 0.050 1.271
2010-11-05 0.045 1.159

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

  • Dixons Carphone has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Dixons Carphone only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Dixons Carphone's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).
X
Income/ dividend checks
We assess Dixons Carphone's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Dixons Carphone afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Dixons Carphone has a total score of 3/6, see the detailed checks below.


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

DCL Management

 What is the CEO of Dixons Carphone'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
Alex Baldock
COMPENSATION £1,619,000
TENURE AS CEO 2 years
CEO Bio

Mr. Alex Baldock has been a Group Chief Executive Officer and Director of Dixons Carphone plc., since April 03, 2018. Mr. Baldock served as the Group Chief Executive of Shop Direct Home Shopping Limited from 2012 to 2018. Mr. Baldock served as the Group Chief Executive Officer of Shop Direct Group Limited until January 2018. Mr. Baldock was previously managing Director at Lombard, the UK’s leading asset finance company and a division of RBS Group. He joined Lombard in 2008 from Barclays, where he held senior roles in both corporate and commercial banking and was Commercial Director and Corporate Director at Barclays Bank. Prior to this, he was a management consultant, advising blue chip corporates from all sectors across Europe, the US and Asia-Pacific. His earlier career included consultancy roles with Bain & Company and Kalchas.

CEO Compensation
  • Insufficient data for Alex to compare compensation growth.
  • Alex's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Dixons Carphone management team in years:

4.5
Average Tenure
48
Average Age
  • The tenure for the Dixons Carphone management team is about average.
Management Team

Alex Baldock

TITLE
Group Chief Executive & Director
COMPENSATION
£2M
TENURE
2 yrs

Jonny Mason

TITLE
Group CFO & Director
COMPENSATION
£766K
AGE
55
TENURE
1.7 yrs

Alan Ritchie

TITLE
Chief Operating Officer

Nigel Paterson

TITLE
General Counsel & Company Secretary
TENURE
5 yrs

Amy Shields

TITLE
Head of External Communications

Jeremy Fennell

TITLE
Managing Director of Carphone Warehouse
TENURE
4.5 yrs

Steve Ager

TITLE
Chief Commercial Officer

Mark Allsop

TITLE
Chief Digital Officer
AGE
46

Neil King

TITLE
Group Treasurer

Jaan Gjærum Semlitsch

TITLE
Chief Executive Officer of Nordics
AGE
48
TENURE
7.3 yrs
Board of Directors Tenure

Average tenure and age of the Dixons Carphone board of directors in years:

3
Average Tenure
55
Average Age
  • The tenure for the Dixons Carphone board of directors is about average.
Board of Directors

Ian Livingston

TITLE
COMPENSATION
£300K
AGE
55
TENURE
3 yrs

Alex Baldock

TITLE
Group Chief Executive & Director
COMPENSATION
£2M
TENURE
2 yrs

Tony DeNunzio

TITLE
Deputy Chair & Senior Independent Director
COMPENSATION
£143K
AGE
59
TENURE
3 yrs

Jonny Mason

TITLE
Group CFO & Director
COMPENSATION
£766K
AGE
55
TENURE
1.7 yrs

Fiona McBain

TITLE
Independent Non-Executive Director
COMPENSATION
£85K
AGE
58
TENURE
3.1 yrs

Gerry Murphy

TITLE
Independent Non-Executive Director
COMPENSATION
£70K
AGE
66
TENURE
5.8 yrs

Andrea Joosen

TITLE
Independent Non-Executive Director
COMPENSATION
£75K
AGE
55
TENURE
5.7 yrs

Eileen Burbidge

TITLE
Independent Non-Executive Director
COMPENSATION
£23K
AGE
47
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
21. Jun 19 Buy John Murphy Individual 21. Jun 19 21. Jun 19 50,000 £1.15 £57,450
21. Jun 19 Buy Alex Baldock Individual 21. Jun 19 21. Jun 19 150,000 £1.14 £170,580
21. Jun 19 Buy Andrea Joosen Individual 21. Jun 19 21. Jun 19 4,800 £1.14 £5,472
21. Jun 19 Buy Fiona McBain Individual 21. Jun 19 21. Jun 19 9,000 £1.11 £10,015
21. Jun 19 Buy Tony DeNunzio Individual 21. Jun 19 21. Jun 19 100,000 £1.13 £113,380
21. Jun 19 Buy Ian Livingston Individual 21. Jun 19 21. Jun 19 100,000 £1.14 £113,720
21. Jun 19 Buy Jonathan Mason Individual 21. Jun 19 21. Jun 19 75,000 £1.14 £85,290
X
Management checks
We assess Dixons Carphone'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. Dixons Carphone 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.

DCL News

Simply Wall St News

DCL Company Info

Description

Dixons Carphone plc operates as a consumer electrical and mobile retailer and services company. It operates through four segments: UK & Ireland Electricals, UK & Ireland Mobile, Nordics, and Greece. The company retails electrical products, airport electricals, and telecommunications products; and computing products and services to business to business customers, as well as offers mobile virtual network operator and consumer electrical repair services. It provides its products and services under the Currys PC World, Dixons Travel, Team Knowhow, PC World Business, Carphone Warehouse, iD Mobile, Carphone Warehouse Business, Elkjøp, Elkjøp and Elkjøp Phonehouse, Knowhow, InfoCare, Kotsovolos, Elgiganten and Elgiganten Phone House, and Gigantti brands. The company also sells its products through online; and offers insurance services. Dixons Carphone plc was founded in 1937 and is headquartered in London, the United Kingdom.

Details
Name: Dixons Carphone plc
DCL
Exchange: BATS-CHIXE
Founded: 1937
£879,994,779
1,161,709,280
Website: http://www.dixonscarphone.com
Address: Dixons Carphone plc
1 Portal Way,
London,
Greater London, W3 6RS,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE DC. Ordinary Shares London Stock Exchange GB GBP 24. Mar 2010
DB CWB Ordinary Shares Deutsche Boerse AG DE EUR 24. Mar 2010
BATS-CHIXE DCL Ordinary Shares BATS 'Chi-X Europe' GB GBP 24. Mar 2010
Number of employees
Current staff
Staff numbers
42,000
Dixons Carphone employees.
Industry
Computer and Electronics Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 19:51
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/09
Last earnings filing: 2019/12/12
Last earnings reported: 2019/10/26
Last annual earnings reported: 2019/04/27


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.