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Metcash

OTCPK:MCSH.F
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MCSH.F
OTCPK
A$3B
Market Cap
  1. Home
  2. US
  3. Consumer Retailing
Company description

Metcash Limited operates as a wholesale distribution and marketing company in Australia and New Zealand. The last earnings update was 127 days ago. More info.


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MCSH.F Share Price and Events
7 Day Returns
0%
OTCPK:MCSH.F
6.7%
US Consumer Retailing
8%
US Market
1 Year Returns
-1.7%
OTCPK:MCSH.F
12.9%
US Consumer Retailing
-8.1%
US Market
MCSH.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Metcash (MCSH.F) 0% -4.3% - -1.7% - 58%
US Consumer Retailing 6.7% -0.4% -3.5% 12.9% 34.5% 30%
US Market 8% -4.5% -17.8% -8.1% 13.2% 23.7%
1 Year Return vs Industry and Market
  • MCSH.F underperformed the Consumer Retailing industry which returned 12.9% over the past year.
  • MCSH.F outperformed the Market in United States of America which returned -8.1% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

MCSH.F Value

 Is Metcash 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 Metcash 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 Metcash.

OTCPK:MCSH.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

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 OTCPK:MCSH.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.39
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.391 (1 + (1- 30%) (44.11%))
0.673
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)
= 1.74% + (0.8 * 5.44%)
6.09%

Discounted Cash Flow Calculation for OTCPK:MCSH.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Metcash 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.

OTCPK:MCSH.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 6.09%)
2020 127.01 Analyst x3 119.72
2021 160.71 Analyst x3 142.78
2022 175.32 Analyst x2 146.82
2023 175.68 Analyst x2 138.67
2024 212.00 Analyst x1 157.73
2025 225.76 Est @ 6.49% 158.32
2026 237.19 Est @ 5.07% 156.79
2027 246.84 Est @ 4.07% 153.80
2028 255.16 Est @ 3.37% 149.85
2029 262.51 Est @ 2.88% 145.32
Present value of next 10 years cash flows A$1,469.00
OTCPK:MCSH.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$262.51 × (1 + 1.74%) ÷ (6.09% – 1.74%)
A$6,136.85
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$6,136.85 ÷ (1 + 6.09%)10
A$3,397.18
OTCPK:MCSH.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$1,469.00 + A$3,397.18
A$4,866.18
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$4,866.18 / 909.26
A$5.35
OTCPK:MCSH.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:MCSH.F represents 0.63214x of ASX:MTS
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.63214x
Value per Share
(Listing Adjusted, USD)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 5.35 x 0.63214
$3.38
Value per share (USD) From above. $3.38
Current discount Discount to share price of $1.77
= -1 x ($1.77 - $3.38) / $3.38
47.7%

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

Current Discount
Amount off the current price Metcash is available for.
Intrinsic value
48%
Share price is $1.77 vs Future cash flow value of $3.38
Current Discount Checks
For Metcash to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Metcash's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Metcash'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 Metcash's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Metcash's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:MCSH.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-10-31) in AUD A$-0.06
ASX:MTS Share Price ** ASX (2020-04-07) in AUD A$2.8
United States of America Consumer Retailing Industry PE Ratio Median Figure of 21 Publicly-Listed Consumer Retailing Companies 18.12x
United States of America Market PE Ratio Median Figure of 2,949 Publicly-Listed Companies 13.31x

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

** Primary Listing of Metcash.

OTCPK:MCSH.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:MTS Share Price ÷ EPS (both in AUD)

= 2.8 ÷ -0.06

-46.58x

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

  • Metcash is loss making, we can't compare its value to the US Consumer Retailing industry average.
  • Metcash is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Metcash's expected growth come at a high price?
Raw Data
OTCPK:MCSH.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -46.58x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
48.7%per year
United States of America Consumer Retailing Industry PEG Ratio Median Figure of 13 Publicly-Listed Consumer Retailing Companies 4.49x
United States of America Market PEG Ratio Median Figure of 2,009 Publicly-Listed Companies 0.9x

*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 Metcash, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Metcash's assets?
Raw Data
OTCPK:MCSH.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-10-31) in AUD A$1.12
ASX:MTS Share Price * ASX (2020-04-07) in AUD A$2.8
United States of America Consumer Retailing Industry PB Ratio Median Figure of 29 Publicly-Listed Consumer Retailing Companies 1.26x
United States of America Market PB Ratio Median Figure of 5,163 Publicly-Listed Companies 1.29x
OTCPK:MCSH.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:MTS Share Price ÷ Book Value per Share (both in AUD)

= 2.8 ÷ 1.12

2.49x

* Primary Listing of Metcash.

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

  • Metcash is overvalued based on assets compared to the US Consumer Retailing industry average.
X
Value checks
We assess Metcash'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 Consumer Retailing 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 Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Metcash 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.

MCSH.F Future Performance

 How is Metcash expected to perform in the next 1 to 3 years based on estimates from 11 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
48.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Metcash expected to grow at an attractive rate?
  • Metcash's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Metcash's earnings growth is expected to exceed the United States of America market average.
  • Metcash's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:MCSH.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:MCSH.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 48.7%
OTCPK:MCSH.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 0.1%
United States of America Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.9%

*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
OTCPK:MCSH.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:MCSH.F Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-04-30 14,555 277 215 1
2023-04-30 13,556 270 210 2
2022-04-30 12,854 295 193 9
2021-04-30 12,968 280 192 11
2020-04-30 13,432 205 -39 11
2020-04-09
OTCPK:MCSH.F Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2019-10-31 12,761 213 -55
2019-07-31 12,711 229 69
2019-04-30 12,660 245 193
2019-01-31 12,618 240 24
2018-10-31 12,577 235 -145
2018-07-31 12,509 256 -147
2018-04-30 12,442 276 -148
2018-01-31 13,030 306 21
2017-10-31 13,617 335 190
2017-07-31 13,870 320 181
2017-04-30 14,122 305 172

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Metcash's earnings are expected to grow significantly at over 20% yearly.
  • Metcash's revenue is expected to grow by 0.1% 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
OTCPK:MCSH.F 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 11 Analyst Estimates (S&P Global) See Below

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

OTCPK:MCSH.F Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-04-30 0.24 0.24 0.24 1.00
2023-04-30 0.23 0.23 0.23 1.00
2022-04-30 0.21 0.22 0.20 4.00
2021-04-30 0.21 0.22 0.20 6.00
2020-04-30 -0.04 -0.03 -0.06 4.00
2020-04-09
OTCPK:MCSH.F Past Financials Data
Date (Data in AUD Millions) EPS *
2019-10-31 -0.06
2019-07-31 0.08
2019-04-30 0.21
2019-01-31 0.03
2018-10-31 -0.15
2018-07-31 -0.15
2018-04-30 -0.15
2018-01-31 0.02
2017-10-31 0.19
2017-07-31 0.19
2017-04-30 0.18

*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.
  • Metcash is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Metcash'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 States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Metcash 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.

MCSH.F Past Performance

  How has Metcash 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 Metcash's growth in the last year to its industry (Consumer Retailing).
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.
  • Metcash does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Metcash's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Metcash's 1-year growth to the US Consumer Retailing industry average as it is not currently profitable.
Earnings and Revenue History
Metcash'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 Metcash Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:MCSH.F Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-10-31 12,760.90 -54.60 966.40
2019-07-31 12,710.60 69.10 1,005.60
2019-04-30 12,660.30 192.80 1,044.80
2019-01-31 12,618.45 23.70 982.10
2018-10-31 12,576.60 -145.40 984.90
2018-07-31 12,509.40 -146.80 1,017.20
2018-04-30 12,442.20 -148.20 1,049.50
2018-01-31 13,029.80 20.90 1,076.70
2017-10-31 13,617.40 190.00 1,103.90
2017-07-31 13,869.65 180.95 1,072.85
2017-04-30 14,121.90 171.90 1,041.80
2016-10-31 13,355.80 166.30 959.80
2016-07-31 13,379.15 172.30 972.40
2016-04-30 13,402.50 178.30 985.00
2015-10-31 13,460.50 -409.20 985.10
2015-07-31 13,415.15 -406.40 987.35
2015-04-30 13,369.80 -403.60 989.60
2014-10-31 13,328.60 164.90 996.20
2014-07-31 13,360.65 172.30 995.85
2014-04-30 13,392.70 179.70 995.50
2013-10-31 13,220.40 257.20 935.00
2013-07-31 13,098.50 261.55 910.95
2013-04-30 12,976.60 265.90 886.90

*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.
  • It is difficult to establish if Metcash has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Metcash has efficiently used its assets last year compared to the US Consumer Retailing industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Metcash improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Metcash'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 Consumer Retailing 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.
Metcash 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.

MCSH.F Health

 How is Metcash'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 Metcash's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Metcash is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Metcash's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Metcash'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 12.8x 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 Metcash Company Filings, last reported 5 months ago.

OTCPK:MCSH.F Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-10-31 1,028.80 218.50 123.60
2019-07-31 1,028.80 218.50 123.60
2019-04-30 1,250.10 178.10 143.00
2019-01-31 1,250.10 178.10 143.00
2018-10-31 1,212.80 195.30 112.80
2018-07-31 1,212.80 195.30 112.80
2018-04-30 1,334.20 123.60 161.80
2018-01-31 1,334.20 123.60 161.80
2017-10-31 1,688.00 123.80 132.60
2017-07-31 1,688.00 123.80 132.60
2017-04-30 1,637.40 183.60 96.50
2016-10-31 1,538.40 261.80 46.20
2016-07-31 1,538.40 261.80 46.20
2016-04-30 1,369.10 311.10 26.40
2015-10-31 1,275.20 488.70 30.80
2015-07-31 1,275.20 488.70 30.80
2015-04-30 1,156.60 855.00 83.30
2014-10-31 1,654.70 870.90 44.90
2014-07-31 1,654.70 870.90 44.90
2014-04-30 1,594.00 830.70 24.70
2013-10-31 1,583.50 866.50 19.70
2013-07-31 1,583.50 866.50 19.70
2013-04-30 1,624.20 799.70 50.30
  • Metcash's level of debt (21.2%) 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 (52.1% vs 21.2% today).
  • Debt is well covered by operating cash flow (97.7%, greater than 20% of total debt).
  • Metcash is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Metcash'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. Metcash 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.

MCSH.F Dividends

 What is Metcash'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
4.64%
Current annual income from Metcash dividends. Estimated to be 4.77% next year.
If you bought $2,000 of Metcash shares you are expected to receive $93 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?
  • Metcash's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.89%).
  • Metcash's dividend is below the markets top 25% of dividend payers in United States of America (5.26%).
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
OTCPK:MCSH.F 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 11 Analyst Estimates (S&P Global) See Below
United States of America Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 1.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 2.8%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

OTCPK:MCSH.F Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2024-04-30 0.18 1.00
2023-04-30 0.15 2.00
2022-04-30 0.13 10.00
2021-04-30 0.13 12.00
2020-04-30 0.13 12.00
2020-04-09
OTCPK:MCSH.F Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-12-04 0.130 4.799
2019-06-24 0.135 4.699
2018-12-03 0.135 5.098
2018-06-25 0.140 5.052
2017-12-04 0.060 1.906
2017-06-26 0.045 1.727
2016-06-20 0.000 0.000
2015-11-30 0.000 0.000
2015-06-15 0.000 0.000
2014-06-23 0.185 9.819
2013-06-24 0.280 8.979
2012-06-27 0.280 7.627
2011-07-29 0.270 6.647
2011-06-07 0.270 6.562
2010-11-30 0.260 6.372
2010-06-01 0.260 5.982
2009-12-01 0.250 5.965
2009-06-01 0.240 5.474

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Metcash's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Metcash's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Metcash afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Metcash 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.

MCSH.F Management

 What is the CEO of Metcash'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
Jeff Adams
COMPENSATION A$3,654,068
TENURE AS CEO 2.3 years
CEO Bio

Mr. Jeffery K. Adams, also known as Jeff, BA (Business Administration and Management) has been Group Chief Executive Officer and Executive Director of Metcash Limited since December 5, 2017. Mr. Adams has over 40 years of international retail experience across domestic and international businesses in the United States, Europe, Asia, Central America, and the Middle East. Mr. Adams joined Metcash Limited September 4, 2017. Mr. Adams served as the Chief Executive Officer of Operations for Tesco Kipa (Turkey). at Tesco PLC since May 04, 2012. Mr. Adams served as an Executive Vice President of Operations at Fresh & Easy Neighborhood Market Inc. since March 2008. He served as Chief Retail Officer at Fresh & Easy since 2008. Mr. Adams has overseen operations at Fresh & Easy since 2008. Before coming to Fresh & Easy, he served as the Chief Operating Officer of Tesco Lotus since 2004. He was instrumental in starting Lotus in 1993. He moved to the U.K. in 2002. Before moving to Fresh & Easy, he served as the Chief Executive Officer of Tesco Lotus (Thailand) since 2004.

CEO Compensation
  • Jeff's compensation has increased whilst company is loss making.
  • Jeff's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Metcash management team in years:

4.2
Average Tenure
  • The tenure for the Metcash management team is about average.
Management Team

Jeff Adams

TITLE
Group CEO & Executive Director
COMPENSATION
A$4M
TENURE
2.3 yrs

Brad Soller

TITLE
Group Chief Financial Officer
COMPENSATION
A$2M
TENURE
5.2 yrs

Mark Laidlaw

TITLE
Chief Executive Officer of Independent Hardware Group
COMPENSATION
A$2M

Scott Marshall

TITLE
Chief Executive Officer of Supermarkets & Convenience
COMPENSATION
A$2M

Edwin Gear

TITLE
Chief Information Officer
TENURE
5 yrs

David Reeve

TITLE
Group Chief Information Officer
TENURE
0.8 yrs

Steve Ashe

TITLE
Head of Corporate Affairs & Investor Relations

Julie Hutton

TITLE
Company Secretary & GM of Legal
TENURE
3.8 yrs

Penny Coates

TITLE
Chief People & Culture Officer
TENURE
4.6 yrs

Kerrie Holmes

TITLE
Head of Legal - Liquor & Assistant Company Secretary
Board of Directors Tenure

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

4.3
Average Tenure
54.5
Average Age
  • The tenure for the Metcash board of directors is about average.
Board of Directors

Rob Murray

TITLE
Independent Non-Executive Chairman
COMPENSATION
A$430K
AGE
54
TENURE
4.7 yrs

Jeff Adams

TITLE
Group CEO & Executive Director
COMPENSATION
A$4M
TENURE
2.3 yrs

Tonianne Dwyer

TITLE
Independent Non-Executive Director
COMPENSATION
A$178K
AGE
57
TENURE
5.8 yrs

Helen Elizabeth Nash

TITLE
Independent Non-Executive Director
COMPENSATION
A$161K
AGE
47
TENURE
4.5 yrs

Murray Jordan

TITLE
Independent Non-Executive Director
COMPENSATION
A$177K
TENURE
4.2 yrs

Peter Birtles

TITLE
Non-Executive Director
AGE
55
TENURE
0.7 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 ($) Value ($)
01. Apr 20 Sell Orbis Investment Management Limited Company 20. Mar 20 30. Mar 20 -9,761,527 $2.05 $-19,283,427
01. Apr 20 Buy Orbis Investment Management Limited Company 23. Mar 20 25. Mar 20 6,683 $2.08 $13,886
01. Apr 20 Sell AMP Capital Investors Limited Company 23. Mar 20 30. Mar 20 -148,708 $1.95 $-290,705
26. Mar 20 Sell MLC Investments Limited Company 20. Mar 20 20. Mar 20 -1,839,745 $1.84 $-3,385,171
26. Mar 20 Buy MLC Investments Limited Company 18. Mar 20 23. Mar 20 456,645 $1.87 $852,174
26. Mar 20 Buy Antares Capital Partners Pty. Ltd. Company 18. Mar 20 23. Mar 20 867,290 $1.84 $1,596,997
20. Mar 20 Buy JBWere Limited Company 13. Dec 19 13. Dec 19 36,000 $1.83 $65,899
23. Mar 20 Sell Orbis Investment Management Limited Company 19. Mar 20 19. Mar 20 -9,784,753 $1.96 $-19,094,515
23. Mar 20 Sell AMP Capital Investors Limited Company 19. Mar 20 19. Mar 20 -166,320 $1.96 $-325,262
20. Mar 20 Buy MLC Investments Limited Company 10. Jan 20 17. Mar 20 5,795,220 $1.54 $8,898,473
20. Mar 20 Buy Antares Capital Partners Pty. Ltd. Company 21. Nov 19 17. Mar 20 21,774,364 $1.60 $34,816,773
20. Mar 20 Buy MLC Investment Management Limited Company 19. Dec 19 19. Dec 19 176,021 $1.82 $320,919
21. Mar 20 Sell Orbis Investment Management Limited Company 30. Jan 20 18. Mar 20 -11,445,462 $2.82 $-18,518,631
21. Mar 20 Buy Orbis Investment Management Limited Company 30. Jan 20 18. Mar 20 2,258,843 $1.40 $3,096,363
21. Mar 20 Sell AMP Capital Investors Limited Company 30. Jan 20 18. Mar 20 -229,620 $1.66 $-382,213
03. Jul 19 Sell Lazard Asset Management LLC Company 14. May 19 30. May 19 -5,056,078 $2.13 $-10,666,077
03. Jul 19 Buy Lazard Asset Management LLC Company 26. Mar 19 18. Apr 19 1,255,185 $1.95 $2,413,205
29. Jan 20 Buy Orbis Investment Management Limited Company 03. Jan 20 24. Jan 20 9,660,725 $1.79 $17,008,811
29. Jan 20 Buy AMP Capital Investors Limited Company 03. Jan 20 24. Jan 20 163,287 $1.76 $287,177
23. Jan 20 Sell Dimensional Fund Advisors L.P. Company 07. Jan 20 21. Jan 20 -58,710 $1.76 $-103,452
23. Jan 20 Buy Dimensional Fund Advisors L.P. Company 23. Dec 19 23. Dec 19 12,103 $1.80 $21,768
22. Jan 20 Sell Merrill Lynch & Co. Inc., Banking Investments Company 12. Nov 19 20. Jan 20 -11,426,722 $1.88 $-1,859,122
22. Jan 20 Buy Merrill Lynch & Co. Inc., Banking Investments Company 12. Nov 19 20. Jan 20 8,788,182 $1.88 $16,271,250
06. Jan 20 Buy AMP Capital Investors Limited Company 10. Dec 19 02. Jan 20 2,370,635 $1.91 $4,527,688
06. Jan 20 Buy Orbis Investment Management Limited Company 06. Dec 19 02. Jan 20 7,148,265 $1.86 $13,194,988
09. Dec 19 Sell Orbis Investment Management Limited Company 05. Dec 18 05. Dec 19 -2,413,114 $66.02 $-8,349,903
09. Dec 19 Buy Orbis Investment Management Limited Company 05. Dec 18 05. Dec 19 12,139,207 $37.37 $24,126,894
13. Nov 19 Sell Merrill Lynch & Co. Inc., Banking Investments Company 07. Nov 19 11. Nov 19 -745,886 $2.02 $-1,493,168
13. Nov 19 Buy Merrill Lynch & Co. Inc., Banking Investments Company 07. Nov 19 11. Nov 19 369,052 $2.03 $747,833
07. Nov 19 Sell Merrill Lynch & Co. Inc., Banking Investments Company 22. Jul 19 05. Nov 19 -12,982,156 $1.98 $-25,696,883
07. Nov 19 Buy Merrill Lynch & Co. Inc., Banking Investments Company 22. Jul 19 05. Nov 19 14,064,924 $2.00 $27,911,911
08. Nov 19 Sell Merrill Lynch & Co. Inc., Banking Investments Company 06. Nov 19 06. Nov 19 -237,440 $1.94 $-458,126
08. Nov 19 Buy Merrill Lynch & Co. Inc., Banking Investments Company 06. Nov 19 06. Nov 19 110,430 $1.92 $211,700
24. Oct 19 Sell Pendal Group Limited Company 27. Aug 19 18. Oct 19 -1,404,036 $1.16 $-21,028,149
24. Oct 19 Buy Pendal Group Limited Company 15. Aug 19 11. Sep 19 4,022,321 $1.99 $7,998,219
24. Sep 19 Buy Peter Birtles Individual 20. Sep 19 20. Sep 19 40,000 $2.03 $81,178
16. Aug 19 Sell Pendal Group Limited Company 31. Jul 19 31. Jul 19 -152,447 $1.93 $-294,964
16. Aug 19 Buy Pendal Group Limited Company 16. Jul 19 14. Aug 19 9,255,532 $1.91 $17,653,183
22. Jul 19 Sell Merrill Lynch & Co. Inc., Banking Investments Company 19. Jun 19 19. Jul 19 -4,080,246 $1.96 $-7,981,589
22. Jul 19 Buy Merrill Lynch & Co. Inc., Banking Investments Company 19. Jun 19 18. Jul 19 6,734,810 $1.96 $13,079,497
16. Jul 19 Sell Pendal Group Limited Company 03. Jul 19 03. Jul 19 -13,743 $1.89 $-26,001
16. Jul 19 Buy Pendal Group Limited Company 24. Jun 19 12. Jul 19 9,333,299 $1.88 $17,342,166
08. Jul 19 Buy Lazard Asset Management LLC Company 04. Jul 19 04. Jul 19 473,712 $1.91 $905,959
08. Jul 19 Sell Vinva Investment Management Company 31. May 19 04. Jul 19 -255,069 $1.97 $-501,320
08. Jul 19 Buy Vinva Investment Management Company 31. May 19 04. Jul 19 160,012 $2.10 $336,190
04. Jul 19 Sell Lazard Asset Management LLC Company 02. Jul 19 02. Jul 19 -126,626 $1.81 $-228,801
02. Jul 19 Buy Lazard Asset Management LLC Company 26. Jun 19 28. Jun 19 181,137 $1.86 $334,736
20. Jun 19 Sell Merrill Lynch & Co. Inc., Banking Investments Company 19. Feb 19 18. Jun 19 -22,835,498 $1.90 $-43,427,705
20. Jun 19 Buy Merrill Lynch & Co. Inc., Banking Investments Company 19. Feb 19 18. Jun 19 24,499,737 $1.91 $46,875,861
14. Jun 19 Sell Pendal Group Limited Company 06. Jun 19 12. Jun 19 -8,947,099 $2.19 $-19,537,073
07. Jun 19 Sell Pendal Group Limited Company 03. Apr 19 05. Jun 19 -10,545,735 $1.98 $-20,604,975
07. Jun 19 Buy Pendal Group Limited Company 12. Apr 19 12. Apr 19 475,045 $1.90 $900,688
03. Jun 19 Sell Vinva Investment Management Company 30. Jan 19 30. May 19 -6,628,023 $1.76 $-11,670,775
03. Jun 19 Buy Vinva Investment Management Company 30. Jan 19 30. May 19 7,125,140 $1.95 $13,907,725
29. May 19 Sell Dimensional Fund Advisors L.P. Company 21. Sep 18 29. May 19 -7,154,721 $2.09 $-13,410,356
29. May 19 Buy Dimensional Fund Advisors L.P. Company 04. Sep 18 23. May 19 2,092,339 $2.17 $3,978,927
X
Management checks
We assess Metcash'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. Metcash 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.

MCSH.F News

Simply Wall St News

MCSH.F Company Info

Description

Metcash Limited operates as a wholesale distribution and marketing company in Australia and New Zealand. It operates through Food, Liquor, and Hardware segments. The Food segment distributes a range of products and services to independent supermarket and convenience retail outlets. The Liquor segment engages in the distribution of liquor products to independent retail outlets and hotels. The Hardware segment distributes hardware products to independent retail outlets; and operates company owned retail stores. The company serves independent retailers in the food, liquor, and hardware sectors. Metcash Limited was founded in 1920 and is based in Macquarie Park, Australia.

Details
Name: Metcash Limited
MCSH.F
Exchange: OTCPK
Founded: 1920
A$1,586,143,476
909,256,748
Website: http://www.metcash.com
Address: Metcash Limited
1 Thomas Holt Drive,
Macquarie Park,
New South Wales, 2113,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX MTS Ordinary Shares Australian Securities Exchange AU AUD 17. Jun 1994
OTCPK MCSH.F Ordinary Shares Pink Sheets LLC US USD 17. Jun 1994
DB MG9 Ordinary Shares Deutsche Boerse AG DE EUR 17. Jun 1994
CHIA MTS Ordinary Shares Chi-X Australia AU AUD 17. Jun 1994
OTCPK MHTL.Y SPONSORED ADR Pink Sheets LLC US USD 18. Mar 2005
Number of employees
Current staff
Staff numbers
6,000
Metcash employees.
Industry
Food Distributors
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 03:33
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2019/12/04
Last earnings reported: 2019/10/31
Last annual earnings reported: 2019/04/30


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.