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
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
It is not possible to calculate the future cash flow value for
National Holdings. This is due to cash flow or dividend data being
unavailable. The share price is
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
is considered below, and whether this is a fair price.
Price based on past earnings
National Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
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 National Holdings 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
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
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
expected to grow at an
Unable to compare National Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
Unable to compare National Holdings's earnings growth to the United States of America market average as no estimate data is available.
Unable to compare National Holdings's revenue growth to the United States of America market average as no estimate data is available.
Unable to determine if National Holdings is high growth as no earnings estimate data is available.
Unable to determine if National Holdings 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.
National Holdings's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
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.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
National Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
National Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
National Holdings's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
National Holdings'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
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
High level of physical assets or inventory.
National Holdings has no debt, it does not need to be covered by short term assets.
Nearly all companies have debt. Debt in itself isn’t
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.
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.
TENURE AS CEO
Mr. Michael Anthony Mullen serves as Chief Executive Officer of National Holdings Corporation and served as its President until July 20, 2018. He serves as Chief Executive Officer of National Securities Corporation. He serves as an Executive Chairman of National Asset Management Inc. He has been Chairman of the Board of National Holdings Corporation since June 2018. He serves as the Chairman of the Board of National Securities Corporation, National Insurance Corporation and Gilman Ciocia Tax & Financial Planning. He began his career in 1986 and has since developed a broad and deep understanding of the financial services industry, with a focus on investing in biotechnology companies. He brings this expertise to his leadership of the National Family of Companies. Mr. Kowalczyk has held senior management roles with several Independent Broker-Dealers and Registered Investment Advisor firms. He holds his Series 4, 7, 24, 63, 65, 99 and Life and Health Insurance and Variable Annuity Licenses.
Michael's compensation has been consistent with company performance over the past year, both up more than 20%.
Michael's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the National Holdings management team is less than 2 years, this suggests a new team.
CEO & Chairman
Executive Vice Chairman & Chief Strategy officer
President & CFO
COO & Corporate Secretary
Managing Director of Technology
Chief Administrative Officer of National Tax & Financial Services
MD & Chief Compliance Officer
Senior Vice President of Corporate Communications
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the National Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors
CEO & Chairman
Executive Vice Chairman & Chief Strategy officer
Who owns this company?
Recent Insider Trading
No 3 month open market individual insider trading information.
Should You Be Holding National Holdings Corporation (NASDAQ:NHLD) Right Now?
Based on this beta value, NHLD appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive. … I test NHLD’s ratio of fixed assets to total assets in order to determine how high the risk is associated with this type of constraint.
How National Holdings Corporation (NASDAQ:NHLD) Delivered A Better ROE Than Its Industry
View our latest analysis for National Holdings Breaking down Return on Equity Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … Since National Holdings’s return covers its cost in excess of 26.95%, its use of equity capital is efficient and likely to be sustainable. … Currently, National Holdings has no debt which means its returns are driven purely by equity capital.
Should You Invest In The Financial Stock National Holdings Corporation (NHLD)?
NasdaqCM:NHLD Growth In Earnings Nov 4th 17 The threat of disintermediation in the capital markets industry is both real and imminent, taking profits away from traditional incumbent financial institutions. … Given the lack of analyst consensus in NHLD’s outlook, we could potentially assume the stock’s growth rate broadly follows its capital markets industry peers. … NasdaqCM:NHLD PE PEG Gauge Nov 4th 17 Capital markets companies are typically trading at a PE of 19x, in-line with the US stock market PE of 22x.
Should You Be Tempted To Buy National Holdings Corporation (NHLD) At Its Current Price?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for NHLD Price per share = 2.47 Earnings per share = 0.289 ∴ Price-Earnings Ratio = 2.47 ÷ 0.289 = 8.6x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … For example, if you inadvertently compared lower risk firms with NHLD, then investors would naturally value NHLD at a lower price since it is a riskier investment. … Similarly, if you accidentally compared higher growth firms with NHLD, investors would also value NHLD at a lower price since it is a lower growth investment.
National Holdings Corporation, through its subsidiaries, provides financial services in the United States. It operates through two segments, Brokerage and Advisory Services, and Tax Preparation and Accounting Services. The company offers retail brokerage services include execution of purchases and sale of stocks, options, bonds, mutual funds, annuities, and various other securities; and investment advisory services for individual, corporate, and institutional clients. It also provides investment banking services, such as underwriting the sale of securities to the public in initial and follow-on offering, and arranging for the private placement of securities with investors; and financial and corporate advisory services comprising mergers and acquisitions, project financing, capital structure, and specific financing opportunities to micro, small, and mid-cap high growth companies. In addition, the company trades in securities, including making markets in micro and small-cap, Nasdaq, and other exchange listed stocks. Further, it provides asset management advisory services to retail clients; fixed insurance products, including life insurance, disability insurance, long-term care insurance, and fixed annuities; and tax preparation services to individuals, primarily in the middle and upper income tax brackets, as well as accounting services to small and midsize companies. Additionally, the company offers licensed mortgage brokerage services; and investment products and services, which comprise stocks, bonds, mutual funds, annuities, insurance, and managed money accounts. The company was formerly known as Olympic Cascade Financial Corporation and changed its name to National Holdings Corporation in March 2006. The company was founded in 1947 and is headquartered in New York, New York.
Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. 337927). Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Please read our Financial Services Guide before deciding whether to obtain financial services from us.