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Renishaw

BATS-CHIXE:RSWL
Snowflake Description

Excellent balance sheet with reasonable growth potential.

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

Renishaw plc, an engineering and scientific technology company, designs, manufactures, distributes, sells, and services metrology and healthcare products worldwide. The last earnings update was 69 days ago. More info.


Add to Portfolio Compare Print
  • Renishaw has significant price volatility in the past 3 months.
RSWL Share Price and Events
7 Day Returns
6.2%
BATS-CHIXE:RSWL
0%
GB Electronic
1.7%
GB Market
1 Year Returns
-24.4%
BATS-CHIXE:RSWL
-5.1%
GB Electronic
-21.8%
GB Market
RSWL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Renishaw (RSWL) 6.2% 4.1% -14.6% -24.4% 0.2% 27%
GB Electronic 0% -5.2% -14.2% -5.1% 23.9% 64.7%
GB Market 1.7% -12% -25.3% -21.8% -22.8% -22.4%
1 Year Return vs Industry and Market
  • RSWL underperformed the Electronic industry which returned -5.1% over the past year.
  • RSWL underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -21.8% over the past year.
Price Volatility
RSWL
Industry
5yr Volatility vs Market

Value

 Is Renishaw 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 Renishaw 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 Renishaw.

BATS-CHIXE:RSWL 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 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:RSWL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.1 (1 + (1- 19%) (1.05%))
1.073
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (1.073 * 6.07%)
7.04%

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

The calculations below outline how an intrinsic value for Renishaw 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:RSWL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.04%)
2020 32.00 Analyst x3 29.89
2021 61.30 Analyst x4 53.50
2022 77.33 Analyst x4 63.04
2023 119.70 Analyst x1 91.17
2024 223.40 Analyst x1 158.96
2025 292.41 Est @ 30.89% 194.38
2026 356.10 Est @ 21.78% 221.14
2027 410.97 Est @ 15.41% 238.42
2028 455.94 Est @ 10.94% 247.11
2029 491.59 Est @ 7.82% 248.90
Present value of next 10 years cash flows £1,546.00
BATS-CHIXE:RSWL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £491.59 × (1 + 0.53%) ÷ (7.04% – 0.53%)
£7,588.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £7,588.10 ÷ (1 + 7.04%)10
£3,842.00
BATS-CHIXE:RSWL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £1,546.00 + £3,842.00
£5,388.00
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £5,388.00 / 72.78
£74.04
BATS-CHIXE:RSWL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BATS-CHIXE:RSWL represents 1.0337x of LSE:RSW
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.0337x
Value per Share
(Listing Adjusted, GBP)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 74.04 x 1.0337
£76.53
Value per share (GBP) From above. £76.53
Current discount Discount to share price of £31.90
= -1 x (£31.90 - £76.53) / £76.53
58.3%

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

Current Discount
Amount off the current price Renishaw is available for.
Intrinsic value
>50%
Share price is £31.9 vs Future cash flow value of £76.53
Current Discount Checks
For Renishaw to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Renishaw's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Renishaw'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 Renishaw's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Renishaw's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BATS-CHIXE:RSWL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in GBP £0.65
LSE:RSW Share Price ** LSE (2020-04-07) in GBP £30.86
United Kingdom of Great Britain and Northern Ireland Electronic Industry PE Ratio Median Figure of 22 Publicly-Listed Electronic Companies 17.39x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 748 Publicly-Listed Companies 13x

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

** Primary Listing of Renishaw.

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

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

= 30.86 ÷ 0.65

47.18x

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

  • Renishaw is overvalued based on earnings compared to the GB Electronic industry average.
  • Renishaw is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Renishaw's expected growth come at a high price?
Raw Data
BATS-CHIXE:RSWL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 47.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
45.4%per year
United Kingdom of Great Britain and Northern Ireland Electronic Industry PEG Ratio Median Figure of 11 Publicly-Listed Electronic Companies 1.08x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 518 Publicly-Listed Companies 1.02x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 47.18x ÷ 45.4%

1.04x

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

  • Renishaw is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Renishaw's assets?
Raw Data
BATS-CHIXE:RSWL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in GBP £8.11
LSE:RSW Share Price * LSE (2020-04-07) in GBP £30.86
United Kingdom of Great Britain and Northern Ireland Electronic Industry PB Ratio Median Figure of 33 Publicly-Listed Electronic Companies 1.89x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,323 Publicly-Listed Companies 1.13x
BATS-CHIXE:RSWL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 30.86 ÷ 8.11

3.8x

* Primary Listing of Renishaw.

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

  • Renishaw is overvalued based on assets compared to the GB Electronic industry average.
X
Value checks
We assess Renishaw'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. Renishaw has a total score of 2/6, see the detailed checks below.

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

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

Future Performance

 How is Renishaw 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
45.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Renishaw expected to grow at an attractive rate?
  • Renishaw's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Renishaw's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Renishaw'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:RSWL Future Growth Rates Data Sources
Data Point Source Value (per year)
BATS-CHIXE:RSWL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 45.4%
BATS-CHIXE:RSWL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 7.1%
United Kingdom of Great Britain and Northern Ireland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 9.4%
United Kingdom of Great Britain and Northern Ireland Electronic Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.6%
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:RSWL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:RSWL Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-06-30
2023-06-30
2022-06-30 599 135 131 6
2021-06-30 559 137 82 9
2020-06-30 514 106 48 9
2020-04-08
BATS-CHIXE:RSWL Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-12-31 537 92 48
2019-09-30 555 99 70
2019-06-30 574 106 92
2019-03-31 601 114 110
2018-12-31 629 121 128
2018-09-30 620 126 130
2018-06-30 612 132 132
2018-03-31 596 131 139
2017-12-31 578 129 138
2017-09-30 557 122 120
2017-06-30 537 115 103
2017-03-31 508 104 88

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Renishaw's earnings are expected to grow significantly at over 20% yearly.
  • Renishaw's revenue is expected to grow by 7.1% 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:RSWL 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 9 Analyst Estimates (S&P Global) See Below

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

BATS-CHIXE:RSWL Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-06-30
2023-06-30
2022-06-30 1.80 1.80 1.80 1.00
2021-06-30 1.13 1.24 0.99 3.00
2020-06-30 0.66 0.76 0.49 3.00
2020-04-08
BATS-CHIXE:RSWL Past Financials Data
Date (Data in GBP Millions) EPS *
2019-12-31 0.65
2019-09-30 0.96
2019-06-30 1.27
2019-03-31 1.52
2018-12-31 1.76
2018-09-30 1.79
2018-06-30 1.82
2018-03-31 1.91
2017-12-31 1.89
2017-09-30 1.65
2017-06-30 1.41
2017-03-31 1.22

*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.
  • Renishaw is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Renishaw'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.
Renishaw has a total score of 4/6, 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 Renishaw 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 Renishaw's growth in the last year to its industry (Electronic).
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.
  • Renishaw's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Renishaw's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Renishaw's 1-year earnings growth is negative, it can't be compared to the GB Electronic industry average.
Earnings and Revenue History
Renishaw'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 Renishaw Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BATS-CHIXE:RSWL Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 536.67 47.60 189.05
2019-09-30 555.31 69.92 187.66
2019-06-30 573.96 92.23 186.26
2019-03-31 601.34 110.27 186.75
2018-12-31 628.72 128.30 187.25
2018-09-30 620.11 130.32 182.60
2018-06-30 611.51 132.34 177.95
2018-03-31 596.02 139.15 174.62
2017-12-31 578.18 137.52 170.63
2017-09-30 557.50 120.20 168.63
2017-06-30 536.81 102.89 166.63
2017-03-31 507.67 88.50 161.47
2016-12-31 466.82 50.06 149.43
2016-09-30 447.02 51.15 142.52
2016-06-30 427.22 52.24 135.61
2016-03-31 453.00 84.56 136.16
2015-12-31 469.39 98.80 133.46
2015-09-30 482.06 110.35 132.29
2015-06-30 494.72 121.91 131.13
2015-03-31 455.02 116.70 123.94
2014-12-31 415.32 111.50 116.75
2014-09-30 385.41 98.86 112.35
2014-06-30 355.50 86.22 107.95
2014-03-31 346.07 69.21 107.37
2013-12-31 336.65 52.20 106.78
2013-09-30 341.77 59.92 105.63
2013-06-30 346.88 67.64 104.48

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

Health

 How is Renishaw'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 Renishaw's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Renishaw is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Renishaw's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Renishaw'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 32.2x 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 Renishaw Company Filings, last reported 3 months ago.

BATS-CHIXE:RSWL Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 589.89 10.70 71.31
2019-09-30 589.89 10.70 71.31
2019-06-30 583.28 10.40 106.83
2019-03-31 583.28 10.40 106.83
2018-12-31 558.74 0.00 100.50
2018-09-30 558.74 0.00 100.50
2018-06-30 548.59 0.00 103.85
2018-03-31 548.59 0.00 103.85
2017-12-31 490.69 0.00 69.13
2017-09-30 490.69 0.00 69.13
2017-06-30 443.81 0.00 51.94
2017-03-31 443.81 0.00 51.94
2016-12-31 370.49 12.52 26.49
2016-09-30 370.49 12.52 26.49
2016-06-30 381.39 9.98 31.28
2016-03-31 381.39 9.98 31.28
2015-12-31 403.29 0.00 33.35
2015-09-30 403.29 0.00 33.35
2015-06-30 428.52 0.00 82.17
2015-03-31 428.52 0.00 82.17
2014-12-31 361.37 0.00 38.81
2014-09-30 361.37 0.00 38.81
2014-06-30 350.76 0.00 43.63
2014-03-31 350.76 0.00 43.63
2013-12-31 293.65 0.00 13.42
2013-09-30 293.65 0.00 13.42
2013-06-30 276.72 0.00 26.61
  • Renishaw's level of debt (1.8%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Renishaw's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (857.5%, greater than 20% of total debt).
  • Renishaw earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Renishaw'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. Renishaw has a total score of 5/6, 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 Renishaw'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 Renishaw dividends. Estimated to be 1.88% next year.
If you bought £2,000 of Renishaw 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 Renishaw's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Renishaw'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
BATS-CHIXE:RSWL 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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 1.8%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 588 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 6.9%

Industry and Market average data is calculated daily.

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

BATS-CHIXE:RSWL Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-06-30
2023-06-30
2022-06-30 0.65 6.00
2021-06-30 0.60 9.00
2020-06-30 0.51 9.00
2020-04-08
BATS-CHIXE:RSWL Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-25 0.000 0.000
2019-08-21 0.600 1.643
2019-08-01 0.600 1.675
2018-08-21 0.600 1.430
2018-07-26 0.600 1.106
2017-08-29 0.520 1.031
2017-07-27 0.520 1.189
2016-08-26 0.480 1.610
2016-07-27 0.480 1.829
2015-07-29 0.465 2.403
2014-08-22 0.412 1.963
2014-07-23 0.412 2.366
2013-07-24 0.400 2.241
2013-01-30 0.395 2.285
2012-08-24 0.385 2.177
2012-07-25 0.385 2.515
2011-08-19 0.350 2.954
2011-07-27 0.350 2.455
2010-08-23 0.176 1.295
2010-07-28 0.272 3.164
2010-01-27 0.080 1.196
2009-08-24 0.000 0.000
2009-07-29 0.000 0.000

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

  • Unable to perform a dividend volatility check as Renishaw has not reported any payouts.
  • Unable to verify if Renishaw's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Renishaw's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Renishaw has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Renishaw'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 Renishaw afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Renishaw has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Renishaw'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
Will Lee
COMPENSATION £653,000
TENURE AS CEO 2.2 years
CEO Bio

Mr. William Lee, also known as Will, has been the Chief Executive of Renishaw plc since February 2018 and has been its Member of the Executive Board since December 2015. Mr. Lee is responsible for the product divisions, overseas sales subsidiaries and human resources. He serves as a Member of International Sales and Marketing Board (ISMB) at Renishaw plc. Mr. Lee serves as Chair of Executive Board at Renishaw plc. He was Group Sales and Marketing Director of Renishaw plc since December 2015 and has been its Director since August 1, 2016. He joined Renishaw in 1997. He served as Divisional Director and General Manager for The Laser and Calibration Products Line at Renishaw plc since 2007 and served as its General Manager of The Machine Tool Products Line since 2014. Mr. Lee joined the Renishaw graduate scheme in 1996. He holds a degree in physics from Oxford University and an MBA from Bath University.

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

2.2
Average Tenure
67.5
Average Age
  • The tenure for the Renishaw management team is about average.
Management Team

David McMurtry

TITLE
Co-Founder
COMPENSATION
£703K
AGE
79

Will Lee

TITLE
Chief Executive
COMPENSATION
£653K
TENURE
2.2 yrs

David Deer

TITLE
Co-Founder & Non-Executive Deputy Chairman
COMPENSATION
£458K
AGE
81
TENURE
47.3 yrs

Allen C. Roberts

TITLE
Group Finance Director
COMPENSATION
£491K
AGE
70

Dave Wallace

TITLE
GM of CMM Products Dvision
AGE
48
TENURE
12.3 yrs

Leo Somerville

TITLE
Member of Executive Board
AGE
61
TENURE
16.3 yrs

Jean-Marc Meffre

TITLE
Member of Executive Board
AGE
65

Mark Moloney

TITLE
Member of the Executive Board
TENURE
2.2 yrs

Gareth Hankins

TITLE
Director of Group Manufacturing Services Division & Member of the Executive Board
TENURE
2.2 yrs

Jacqueline Conway

TITLE
General Counsel & Company Secretary
TENURE
0.4 yrs
Board of Directors Tenure

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

7
Average Tenure
69.5
Average Age
  • The tenure for the Renishaw board of directors is about average.
Board of Directors

David McMurtry

TITLE
Co-Founder
COMPENSATION
£703K
AGE
79

Will Lee

TITLE
Chief Executive
COMPENSATION
£653K
TENURE
3.7 yrs

David Deer

TITLE
Co-Founder & Non-Executive Deputy Chairman
COMPENSATION
£458K
AGE
81

Allen C. Roberts

TITLE
Group Finance Director
COMPENSATION
£491K
AGE
70
TENURE
39.5 yrs

Sean Hymas

TITLE
President & Representative Director of Renishaw KK
AGE
53

Carol Chesney

TITLE
Non-Executive Director
COMPENSATION
£55K
AGE
56
TENURE
7.5 yrs

Catherine Glickman

TITLE
Non-Executive Director
AGE
60
TENURE
1.7 yrs

David Grant

TITLE
Senior Independent Director
COMPENSATION
£55K
AGE
71

John Jeans

TITLE
Non-Executive Director
COMPENSATION
£56K
AGE
69
TENURE
7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Renishaw 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 (£)
06. Mar 20 Buy William Lee Individual 05. Mar 20 05. Mar 20 900 £33.27 £29,943
X
Management checks
We assess Renishaw'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. Renishaw 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

Renishaw plc, an engineering and scientific technology company, designs, manufactures, distributes, sells, and services metrology and healthcare products worldwide. The company offers metrology products, including additive manufacturing systems, co-ordinate measuring machine products, machine tool probe systems, styli for probe systems, performance testing products, gauging systems, fixtures, and position encoders. It also provides healthcare products, such as craniomaxillofacial custom-made implants, dental scanners, dental computer-aided design software, neurosurgical robots, neurosurgical planning software, neurosurgical implants, neurosurgical accessories, Raman microscopes, and hybrid Raman systems, as well as dental structures manufacturing, and biological and pharmaceutical services. In addition, the company offers travel agency services. It serves the aerospace, automotive, construction, consumer products, power generation, agriculture, healthcare, resource exploration, electronics, heavy, precision manufacturing, and medical industries, as well as scientific, research, and analysis industries. The company was founded in 1973 and is headquartered in Wotton-under-Edge, the United Kingdom.

Details
Name: Renishaw plc
RSWL
Exchange: BATS-CHIXE
Founded: 1973
£2,245,871,680
72,776,140
Website: http://www.renishaw.com
Address: Renishaw plc
New Mills,
Wotton-under-Edge,
Gloucestershire, GL12 8JR,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE RSW Ordinary Shares London Stock Exchange GB GBP 02. Jan 1992
OTCPK RNSH.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB REW Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
BATS-CHIXE RSWL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1992
OTCPK RNSH.Y UNSPONSORD ADR Pink Sheets LLC US USD 23. Aug 2013
Number of employees
Current staff
Staff numbers
4,871
Renishaw employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:10
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/06
Last earnings filing: 2020/01/30
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


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.