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Fulcrum Utility Services

AIM:FCRM
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCRM
AIM
£37M
Market Cap
  1. Home
  2. GB
  3. Utilities
Company description

Fulcrum Utility Services Limited provides multi-utility infrastructure and related services in the United Kingdom. The last earnings update was 100 days ago. More info.


Add to Portfolio Compare Print
  • Fulcrum Utility Services has significant price volatility in the past 3 months.
FCRM Share Price and Events
7 Day Returns
3.1%
AIM:FCRM
3.8%
Europe Gas Utilities
10%
GB Market
1 Year Returns
-49.2%
AIM:FCRM
-24.3%
Europe Gas Utilities
-23%
GB Market
FCRM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fulcrum Utility Services (FCRM) 3.1% -29% -29.8% -49.2% -72.5% 33.3%
Europe Gas Utilities 3.8% -17.8% -21.2% -24.3% -12% -16.7%
GB Market 10% -17.6% -27.3% -23% -24.2% -21.8%
1 Year Return vs Industry and Market
  • FCRM underperformed the Gas Utilities industry which returned -24.3% over the past year.
  • FCRM underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned -23% over the past year.
Price Volatility
FCRM
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Fulcrum Utility Services's competitors could be found in our database.

FCRM Value

 Is Fulcrum Utility Services 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 Fulcrum Utility Services 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 Fulcrum Utility Services.

AIM:FCRM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-09-30) in GBP £ 0.0235
Payout Ratio Company Filings (2019-09-30) 5249.4%
Discount Rate (Cost of Equity) See below 5.4%
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 AIM:FCRM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.1%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.34
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.344 (1 + (1- 19%) (22.93%))
0.536
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.53% + (0.8 * 6.07%)
5.39%

Discounted Cash Flow Calculation for AIM:FCRM using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Fulcrum Utility Services is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

AIM:FCRM Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= £0.02 / (5.39% - 0.53%)
£0.48
AIM:FCRM Discount to Share Price
Calculation Result
Value per share (GBP) From above. £0.48
Current discount Discount to share price of £0.17
= -1 x (£0.17 - £0.48) / £0.48
65.9%

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

Current Discount
Amount off the current price Fulcrum Utility Services is available for.
Intrinsic value
>50%
Share price is £0.165 vs Future cash flow value of £0.48394
Current Discount Checks
For Fulcrum Utility Services to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Fulcrum Utility Services's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Fulcrum Utility Services'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 Fulcrum Utility Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fulcrum Utility Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:FCRM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in GBP £0.01
AIM:FCRM Share Price ** AIM (2020-03-31) in GBP £0.17
Europe Gas Utilities Industry PE Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 12.99x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 747 Publicly-Listed Companies 12.45x

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

** Primary Listing of Fulcrum Utility Services.

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

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

= 0.17 ÷ 0.01

27.15x

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

  • Fulcrum Utility Services is overvalued based on earnings compared to the Europe Gas Utilities industry average.
  • Fulcrum Utility Services is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Fulcrum Utility Services's expected growth come at a high price?
Raw Data
AIM:FCRM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.15x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Gas Utilities Industry PEG Ratio Median Figure of 6 Publicly-Listed Gas Utilities Companies 4.14x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 526 Publicly-Listed Companies 0.95x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Fulcrum Utility Services, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fulcrum Utility Services's assets?
Raw Data
AIM:FCRM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in GBP £0.20
AIM:FCRM Share Price * AIM (2020-03-31) in GBP £0.17
Europe Gas Utilities Industry PB Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 1.07x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,322 Publicly-Listed Companies 1.08x
AIM:FCRM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.17 ÷ 0.20

0.81x

* Primary Listing of Fulcrum Utility Services.

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

  • Fulcrum Utility Services is good value based on assets compared to the Europe Gas Utilities industry average.
X
Value checks
We assess Fulcrum Utility Services'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 Gas Utilities 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 Gas Utilities industry average (and greater than 0)? (1 check)
  5. Fulcrum Utility Services has a total score of 3/6, see the detailed checks below.

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

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

FCRM Future Performance

 How is Fulcrum Utility Services expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fulcrum Utility Services has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
2.2%
Expected Gas Utilities industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fulcrum Utility Services expected to grow at an attractive rate?
  • Unable to compare Fulcrum Utility Services's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Fulcrum Utility Services's earnings growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
  • Unable to compare Fulcrum Utility Services's revenue growth to the United Kingdom of Great Britain and Northern Ireland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AIM:FCRM Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 2.2%
Europe Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 15.5%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 2.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
AIM:FCRM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:FCRM Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31
2020-04-01
2020-03-31 45 4 3 2
AIM:FCRM Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-09-30 44 -3 1
2019-06-30 46 0 3
2019-03-31 49 3 5
2018-12-31 45 5
2018-09-30 46 7 6
2018-06-30 43 5 6
2018-03-31 41 3 7
2017-12-31 42 3 7
2017-09-30 39 4 6
2017-06-30 38 5 6
2017-03-31 38 6 5
2016-12-31 37 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Fulcrum Utility Services is high growth as no earnings estimate data is available.
  • Unable to determine if Fulcrum Utility Services is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:FCRM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Fulcrum Utility Services Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FCRM Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31
2020-04-01
2020-03-31 0.01 0.01 0.01 1.00
AIM:FCRM Past Financials Data
Date (Data in GBP Millions) EPS *
2019-09-30 0.01
2019-06-30 0.01
2019-03-31 0.02
2018-12-31 0.02
2018-09-30 0.03
2018-06-30 0.03
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.03
2017-06-30 0.03
2017-03-31 0.03
2016-12-31 0.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Fulcrum Utility Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Fulcrum Utility Services is trading at Fulcrum Utility Services'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Fulcrum Utility Services's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Utilities companies here
  3. Fulcrum Utility Services's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Fulcrum Utility Services'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Fulcrum Utility Services has a total score of 0/6, 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.

FCRM Past Performance

  How has Fulcrum Utility Services 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 Fulcrum Utility Services's growth in the last year to its industry (Gas Utilities).
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.
  • Fulcrum Utility Services's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Fulcrum Utility Services's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Fulcrum Utility Services's 1-year earnings growth is negative, it can't be compared to the Europe Gas Utilities industry average.
Earnings and Revenue History
Fulcrum Utility Services'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 Fulcrum Utility Services Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:FCRM Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 43.59 1.33 12.21
2019-06-30 46.25 3.13 12.04
2019-03-31 48.91 4.93 11.87
2018-12-31 45.20 5.09 11.30
2018-09-30 45.88 6.25 10.99
2018-06-30 43.26 6.45 9.87
2018-03-31 40.63 6.66 8.75
2017-12-31 42.04 6.51 9.03
2017-09-30 39.22 5.80 8.49
2017-06-30 38.48 5.52 8.70
2017-03-31 37.74 5.25 8.91
2016-12-31 37.42 5.46 8.77
2016-09-30 37.11 5.68 8.64
2016-06-30 36.61 5.21 8.69
2016-03-31 36.11 4.73 8.75
2015-12-31 35.09 4.65 9.04
2015-09-30 34.07 4.57 9.33
2015-06-30 33.91 3.68 9.21
2015-03-31 33.74 2.80 9.08
2014-12-31 34.67 0.76 8.64
2014-09-30 35.59 -1.27 8.20
2014-06-30 36.94 -2.87 8.93
2014-03-31 38.29 -4.46 9.66
2013-12-31 38.58 -4.11 10.07
2013-09-30 38.87 -3.77 10.48
2013-06-30 38.82 -2.13 11.61

*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.
  • Fulcrum Utility Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Fulcrum Utility Services used its assets less efficiently than the Europe Gas Utilities industry average last year based on Return on Assets.
  • Fulcrum Utility Services's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fulcrum Utility Services'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 Gas Utilities 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.
Fulcrum Utility Services has a total score of 1/6, 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.

FCRM Health

 How is Fulcrum Utility Services'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 Fulcrum Utility Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fulcrum Utility Services's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Fulcrum Utility Services's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fulcrum Utility Services'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 3.3x 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 Fulcrum Utility Services Company Filings, last reported 6 months ago.

AIM:FCRM Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 44.99 6.00 3.78
2019-06-30 44.99 6.00 3.78
2019-03-31 45.47 3.00 6.82
2018-12-31 45.47 3.00 6.82
2018-09-30 40.48 0.00 10.42
2018-06-30 40.48 0.00 10.42
2018-03-31 36.55 0.00 9.43
2017-12-31 36.30 0.00 9.43
2017-09-30 14.02 0.00 14.53
2017-06-30 14.02 0.00 14.53
2017-03-31 10.45 0.00 12.56
2016-12-31 10.45 0.00 12.56
2016-09-30 8.88 0.00 12.49
2016-06-30 8.88 0.00 12.49
2016-03-31 5.84 0.00 8.32
2015-12-31 5.84 0.00 8.32
2015-09-30 2.76 0.00 5.63
2015-06-30 2.76 0.00 5.63
2015-03-31 1.09 0.00 5.75
2014-12-31 1.09 0.00 5.75
2014-09-30 -1.95 0.00 5.78
2014-06-30 -1.95 0.00 5.78
2014-03-31 -1.78 0.00 5.33
2013-12-31 -1.78 0.00 5.33
2013-09-30 0.02 0.96 1.87
2013-06-30 0.02 0.96 1.87
  • Fulcrum Utility Services's level of debt (13.3%) 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 (17.2% vs 13.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 29.4x coverage).
X
Financial health checks
We assess Fulcrum Utility Services'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. Fulcrum Utility Services 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.

FCRM Dividends

 What is Fulcrum Utility Services'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
13.64%
Current annual income from Fulcrum Utility Services dividends. Estimated to be 14.24% next year.
If you bought £2,000 of Fulcrum Utility Services shares you are expected to receive £273 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?
  • Fulcrum Utility Services's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.69%).
  • Fulcrum Utility Services's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (7.48%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:FCRM 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 0 Analyst Estimates (S&P Global) See Below
Europe Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 6.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 629 Stocks 6%
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 7.5%

Industry and Market average data is calculated daily.

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

AIM:FCRM Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 0.02 1.00
2020-04-01
2020-03-31 0.01 2.00
AIM:FCRM Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-09-20 0.023 9.637
2018-09-26 0.021 5.827
2017-09-27 0.019 2.976
2016-12-06 0.012 2.119
2016-06-24 0.012 2.993
2016-06-07 0.012 3.021
2015-12-01 0.006 1.991
2015-09-30 0.004 2.224

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

  • Whilst dividend payments have been stable, Fulcrum Utility Services has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Fulcrum Utility Services only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Fulcrum Utility Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Fulcrum Utility Services'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 Fulcrum Utility Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fulcrum Utility Services has a total score of 2/6, see the detailed checks below.


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

FCRM Management

 What is the CEO of Fulcrum Utility Services'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
Daren Harris
AGE 53
TENURE AS CEO 0.3 years
CEO Bio

Mr. Daren Harris serves as Chief Executive Officer and Director at Fulcrum Utility Services Limited since January 29, 2020. He was Chief Financial Officer at Fulcrum Utility Services Limited since June 24, 2019 until January 29, 2020. Mr. Harris was Finance Director of Byrne Group Plc since November 2015 until November 2018. Mr. Harris was responsible for finance, information technology and Company secretarial activities at Byrne Group. He served as Finance Director of NG Bailey Limited (alternate name NG Bailey Group Limited). He was responsible for leading the finance function of the NG Bailey Limited and ensuring the operational performance of the business. He was Chief Finance Officer for defense and national security giant, Raytheon Systems Limited. A chartered accountant, he has also held senior financial management positions with US-owned Defense contractor, Raytheon Systems and Serco. He was a director of Byrne Group Limited, Bailey Facilities Management Ltd., DR and KE Harris Limited, Bailey Interiors Limited, NG Bailey Manufacturing Limited, Bailey Johnson (Holdings) Limited, NG Bailey And Company (Overseas) Limited, Bailey Leasing Limited, NG Bailey Engineering Limited, Bailey Off-Site Limited, NG Bailey Facilities Services Limited, Bailey Rail Limited, NG Bailey Group Limited, Bailey Systems Limited, NG Bailey IT Services Limited, Denton Park Ltd, Hamsaard 2019 Limited, Bailey Asset Management Ltd., Integrated Control Systems Limited, Bailey Building Management Ltd., S2S Limited, Bailey Building Services Limited, Si Site Services (International) Limited, Bailey Building Systems Ltd., Si Site Services Limited and Bailey Energy Limited. He is a member of The Institute of Chartered Accountants in England and Wales.

CEO Compensation
  • Insufficient data for Daren to compare compensation growth.
  • Insufficient data for Daren to establish whether their remuneration is reasonable compared to companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Fulcrum Utility Services management team in years:

0.3
Average Tenure
49
Average Age
  • The average tenure for the Fulcrum Utility Services management team is less than 2 years, this suggests a new team.
Management Team

Daren Harris

TITLE
CEO & Director
AGE
53
TENURE
0.3 yrs

Ian Pattison

TITLE
Interim CFO & Executive Director
TENURE
0.2 yrs

Terry Dugdale

TITLE
Group COO & Executive Director
AGE
45
TENURE
0.3 yrs

Craig Baugh

TITLE
Director of Sales and Marketing
AGE
36

Richard Jupp

TITLE
Chief Operating Officer of Electricity
AGE
55
Board of Directors Tenure

Average tenure and age of the Fulcrum Utility Services board of directors in years:

1.5
Average Tenure
57
Average Age
  • The average tenure for the Fulcrum Utility Services board of directors is less than 3 years, this suggests a new board.
Board of Directors

Phil Holder

TITLE
Non-Executive Chairman
COMPENSATION
£80K
AGE
70

Daren Harris

TITLE
CEO & Director
AGE
53
TENURE
0.8 yrs

Terry Dugdale

TITLE
Group COO & Executive Director
AGE
45
TENURE
0.3 yrs

Steve Gutteridge

TITLE
Non-Executive Director
COMPENSATION
£44K
AGE
64
TENURE
9.8 yrs

Wayne Hayes

TITLE
Non-Executive Director
COMPENSATION
£40K
AGE
57
TENURE
2.2 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 (£)
23. Dec 19 Buy Philip Holder Individual 23. Dec 19 23. Dec 19 50,000 £0.25 £12,549
02. Apr 19 Buy Martin Harrison Individual 02. Apr 19 02. Apr 19 56,543 £0.35 £19,988
02. Apr 19 Buy Stephen Gutteridge Individual 02. Apr 19 02. Apr 19 30,000 £0.34 £10,238
02. Apr 19 Buy Philip Holder Individual 02. Apr 19 02. Apr 19 50,000 £0.34 £17,110
X
Management checks
We assess Fulcrum Utility Services'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. Fulcrum Utility Services 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.

FCRM News

Simply Wall St News

Is There An Opportunity With Fulcrum Utility Services Limited's (LON:FCRM) 34% Undervaluation?

Today we will run through one way of estimating the intrinsic value of Fulcrum Utility Services Limited (LON:FCRM) by estimating the company's future cash flows and discounting them to their present value. … Value Per Share = Expected Dividend Per Share / (Discount Rate - Perpetual Growth Rate) = £0.023 / (6.5% – 1.2%) = £0.43 AIM:FCRM Intrinsic value, August 7th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. … Given that we are looking at Fulcrum Utility Services as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt.

Simply Wall St -

Introducing Fulcrum Utility Services (LON:FCRM), The Stock That Zoomed 193% In The Last Five Years

During the five years of share price growth, Fulcrum Utility Services moved from a loss to profitability. … We can see that the Fulcrum Utility Services share price is down 28% in the last three years. … We note that for Fulcrum Utility Services the TSR over the last 5 years was 236%, which is better than the share price return mentioned above.

Simply Wall St -

How Much Of Fulcrum Utility Services Limited (LON:FCRM) Do Insiders Own?

See our latest analysis for Fulcrum Utility Services AIM:FCRM Ownership Summary, June 20th 2019 What Does The Institutional Ownership Tell Us About Fulcrum Utility Services? … We can see that Fulcrum Utility Services does have institutional investors; and they hold 23% of the stock. … General Public Ownership The general public -- mostly retail investors -- own 63% of Fulcrum Utility Services.

Simply Wall St -

Why We Like Fulcrum Utility Services Limited’s (LON:FCRM) 17% Return On Capital Employed

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Fulcrum Utility Services: 0.17 = UK£7.2m ÷ (UK£80m - UK£37m) (Based on the trailing twelve months to September 2018.) So, Fulcrum Utility Services has an ROCE of 17%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … What We Can Learn From Fulcrum Utility Services's ROCE While its ROCE looks good, it's worth remembering that the current liabilities are making the business look better.

Simply Wall St -

Need To Know: Fulcrum Utility Services Limited (LON:FCRM) Insiders Have Been Buying Shares

So we'll take a look at whether insiders have been buying or selling shares in Fulcrum Utility Services Limited (LON:FCRM). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' See our latest analysis for Fulcrum Utility Services The Last 12 Months Of Insider Transactions At Fulcrum Utility Services The Non-Executive Director, Stephen Gutteridge, made the biggest insider sale in the last 12 months. … Fulcrum Utility Services Insiders Bought Stock Recently Over the last three months, we've seen significant insider buying at Fulcrum Utility Services.

Simply Wall St -

Did You Miss Fulcrum Utility Services's (LON:FCRM) Impressive 281% Share Price Gain?

Some Fulcrum Utility Services Limited (LON:FCRM) shareholders are probably rather concerned to see the share price fall 31% over the last three months. … Given that the company made a profit three years ago, but not five years ago, it is worth looking at the share price returns over the last three years, too. … In fact, the Fulcrum Utility Services stock price is 19% lower in the last three years.

Simply Wall St -

Should Fulcrum Utility Services Limited (LON:FCRM) Be Your Next Stock Pick?

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been able to sustain great financial health over the past

Simply Wall St -

Is Fulcrum Utility Services Limited's (LON:FCRM) ROE Of 19% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Fulcrum Utility Services Limited (LON:FCRM). … Fulcrum Utility Services has a ROE of 19%, based on the last twelve months. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why You Should Like Fulcrum Utility Services Limited’s (LON:FCRM) ROCE

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Have Insiders Been Selling Fulcrum Utility Services Limited (LON:FCRM) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Fulcrum Utility Services Limited (LON:FCRM). … The Last 12 Months Of Insider Transactions At Fulcrum Utility Services. … All up, insiders sold more shares in Fulcrum Utility Services than they bought, over the last year

Simply Wall St -

FCRM Company Info

Description

Fulcrum Utility Services Limited provides multi-utility infrastructure and related services in the United Kingdom. The company operates through three segments: Infrastructure Services, Utility Asset Ownership, and Dunamis. It designs and constructs gas infrastructure for industrial, commercial, and domestic housing developments; and electrical infrastructure, including high voltage projects, as well as provides a range of electrical maintenance and operational services. The company also installs, adopts, owns, and operates smart meters. In addition, it is involved in the transportation of gas and electricity; and owning and operating domestic, industrial, and commercial electrical infrastructure. Further, the company’s services include gas connection and disconnection, gas outlet pipework, electricity connection, electrical connection and maintenance, electrical design, dual fuel connection, multi utility connection, fuel conversion, and smart metering, and specialist gas services, as well as electric vehicles charging services. It serves residential, industrial, commercial, and mixed-use developers, as well as one-off connection sector. Fulcrum Utility Services Limited was incorporated in 2008 and is headquartered in Sheffield, the United Kingdom.

Details
Name: Fulcrum Utility Services Limited
FCRM
Exchange: AIM
Founded: 2008
£36,647,444
222,105,726
Website: http://www.fulcrumutilityserviceslimited.co.uk
Address: Fulcrum Utility Services Limited
Sheffield Business Park,
2 Europa View,
Sheffield,
South Yorkshire, S9 1XH,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM FCRM Ordinary Shares London Stock Exchange AIM Market GB GBP 24. Dec 2009
Number of employees
Current staff
Staff numbers
246
Fulcrum Utility Services employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 02:40
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/04
Last earnings filing: 2019/12/23
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.