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Italtile

JSE:ITE
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ITE
JSE
ZAR13B
Market Cap
  1. Home
  2. ZA
  3. Retail
Company description

Italtile Limited manufactures and retails tiles, bathroom ware and related products in South Africa. The last earnings update was 170 days ago. More info.


Add to Portfolio Compare Print
  • Italtile has significant price volatility in the past 3 months.
ITE Share Price and Events
7 Day Returns
5%
JSE:ITE
-12.1%
ZA Specialty Retail
-5.2%
ZA Market
1 Year Returns
-25%
JSE:ITE
-50.2%
ZA Specialty Retail
-33.8%
ZA Market
ITE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Italtile (ITE) 5% -18.7% -18.9% -25% -18.9% -11%
ZA Specialty Retail -12.1% -37.6% -45.2% -50.2% -47.5% -59.8%
ZA Market -5.2% -21.1% -29% -33.8% -28% -31.7%
1 Year Return vs Industry and Market
  • ITE outperformed the Specialty Retail industry which returned -50.2% over the past year.
  • ITE outperformed the Market in South Africa which returned -33.8% over the past year.
Price Volatility
ITE
Industry
5yr Volatility vs Market

ITE Value

 Is Italtile 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 Italtile 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 Italtile.

JSE:ITE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 15.6%
Perpetual Growth Rate 10-Year ZA Government Bond Rate 8.6%

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 JSE:ITE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ZA Govt Bond Rate 8.6%
Equity Risk Premium S&P Global 8.2%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.738 (1 + (1- 28%) (6.26%))
0.847
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.6% + (0.847 * 8.23%)
15.57%

Discounted Cash Flow Calculation for JSE:ITE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Italtile 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.

JSE:ITE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (ZAR, Millions) Source Present Value
Discounted (@ 15.57%)
2020 1,035.99 Est @ 15.79% 896.43
2021 1,177.25 Est @ 13.64% 881.44
2022 1,320.00 Est @ 12.13% 855.18
2023 1,466.09 Est @ 11.07% 821.87
2024 1,617.49 Est @ 10.33% 784.60
2025 1,776.15 Est @ 9.81% 745.50
2026 1,943.94 Est @ 9.45% 706.01
2027 2,122.63 Est @ 9.19% 667.06
2028 2,313.98 Est @ 9.01% 629.23
2029 2,519.70 Est @ 8.89% 592.87
Present value of next 10 years cash flows ZAR7,580.00
JSE:ITE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ZAR2,519.70 × (1 + 8.6%) ÷ (15.57% – 8.6%)
ZAR39,269.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ZAR39,269.38 ÷ (1 + 15.57%)10
ZAR9,239.91
JSE:ITE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ZAR7,580.00 + ZAR9,239.91
ZAR16,819.91
Equity Value per Share
(ZAR)
= Total value / Shares Outstanding
= ZAR16,819.91 / 1,222.51
ZAR13.76
JSE:ITE Discount to Share Price
Calculation Result
Value per share (ZAR) From above. ZAR13.76
Current discount Discount to share price of ZAR10.50
= -1 x (ZAR10.50 - ZAR13.76) / ZAR13.76
23.7%

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

Current Discount
Amount off the current price Italtile is available for.
Intrinsic value
24%
Share price is ZAR10.5 vs Future cash flow value of ZAR13.76
Current Discount Checks
For Italtile to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Italtile's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Italtile's share price is below the future cash flow value, but not 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 Italtile's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Italtile's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
JSE:ITE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in ZAR ZAR1.03
JSE:ITE Share Price ** JSE (2020-04-03) in ZAR ZAR10.5
South Africa Specialty Retail Industry PE Ratio Median Figure of 12 Publicly-Listed Specialty Retail Companies 8.38x
South Africa Market PE Ratio Median Figure of 201 Publicly-Listed Companies 8.08x

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

** Primary Listing of Italtile.

JSE:ITE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JSE:ITE Share Price ÷ EPS (both in ZAR)

= 10.5 ÷ 1.03

10.24x

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

  • Italtile is overvalued based on earnings compared to the ZA Specialty Retail industry average.
  • Italtile is overvalued based on earnings compared to the South Africa market.
Price based on expected Growth
Does Italtile's expected growth come at a high price?
Raw Data
JSE:ITE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.24x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
South Africa Specialty Retail Industry PEG Ratio Median Figure of 6 Publicly-Listed Specialty Retail Companies 0.92x
South Africa Market PEG Ratio Median Figure of 78 Publicly-Listed Companies 0.84x

*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 Italtile, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Italtile's assets?
Raw Data
JSE:ITE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in ZAR ZAR4.59
JSE:ITE Share Price * JSE (2020-04-03) in ZAR ZAR10.5
South Africa Specialty Retail Industry PB Ratio Median Figure of 12 Publicly-Listed Specialty Retail Companies 1.18x
South Africa Market PB Ratio Median Figure of 271 Publicly-Listed Companies 0.67x
JSE:ITE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JSE:ITE Share Price ÷ Book Value per Share (both in ZAR)

= 10.5 ÷ 4.59

2.29x

* Primary Listing of Italtile.

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

  • Italtile is overvalued based on assets compared to the ZA Specialty Retail industry average.
X
Value checks
We assess Italtile's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Specialty Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Specialty Retail industry average (and greater than 0)? (1 check)
  5. Italtile has a total score of 1/6, 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.

ITE Future Performance

 How is Italtile 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 Italtile 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
12.7%
Expected Specialty Retail industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Italtile expected to grow at an attractive rate?
  • Unable to compare Italtile's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Italtile's earnings growth to the South Africa market average as no estimate data is available.
  • Unable to compare Italtile's revenue growth to the South Africa market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
JSE:ITE Future Growth Rates Data Sources
Data Point Source Value (per year)
South Africa Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
South Africa Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
South Africa Market Earnings Growth Rate Market Cap Weighted Average 16%
South Africa Market Revenue Growth Rate Market Cap Weighted Average 8.4%

*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
JSE:ITE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in ZAR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
JSE:ITE Past Financials Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income *
2019-06-30 6,975 1,573 1,253
2019-03-31 6,955 1,251
2018-12-31 6,934 1,496 1,249
2018-09-30 6,499 1,407 1,165
2018-06-30 6,064 1,318 1,080
2018-03-31 5,242 978
2017-12-31 4,420 1,190 875
2017-09-30 4,045 1,046 860
2017-06-30 3,670 901 845
2017-03-31 3,746 695 863
2016-12-31 3,822 489 880
2016-09-30 3,681 524 847

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Italtile is high growth as no earnings estimate data is available.
  • Unable to determine if Italtile 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
JSE:ITE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Italtile Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

JSE:ITE Past Financials Data
Date (Data in ZAR Millions) EPS *
2019-06-30 1.03
2019-03-31 1.02
2018-12-31 1.02
2018-09-30 0.99
2018-06-30 0.95
2018-03-31 0.92
2017-12-31 0.88
2017-09-30 0.89
2017-06-30 0.90
2017-03-31 0.92
2016-12-31 0.95
2016-09-30 0.91

*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 Italtile will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Check out Italtile's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. Italtile'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 Retail companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Italtile'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 South Africa market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the South Africa 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.
Italtile 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.

ITE Past Performance

  How has Italtile 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 Italtile's growth in the last year to its industry (Specialty Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Italtile's year on year earnings growth rate has been positive over the past 5 years.
  • Italtile's 1-year earnings growth exceeds its 5-year average (16% vs 15.7%)
  • Italtile's earnings growth has exceeded the ZA Specialty Retail industry average in the past year (16% vs -3.4%).
Earnings and Revenue History
Italtile'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 Italtile Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

JSE:ITE Past Revenue, Cash Flow and Net Income Data
Date (Data in ZAR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 6,975.00 1,253.00 1,342.00
2019-03-31 6,954.50 1,251.00 1,351.50
2018-12-31 6,934.00 1,249.00 1,361.00
2018-09-30 6,499.00 1,164.50 1,294.00
2018-06-30 6,064.00 1,080.00 1,227.00
2018-03-31 5,242.00 977.50 1,094.50
2017-12-31 4,420.00 875.00 962.00
2017-09-30 4,045.00 860.00 897.00
2017-06-30 3,670.00 845.00 832.00
2017-03-31 3,746.00 862.50 820.50
2016-12-31 3,822.00 880.00 809.00
2016-09-30 3,680.50 846.50 768.50
2016-06-30 3,539.00 813.00 728.00
2016-03-31 3,420.50 792.50 697.00
2015-12-31 3,302.00 772.00 666.00
2015-09-30 3,208.50 736.00 651.00
2015-06-30 3,115.00 700.00 636.00
2015-03-31 3,034.00 652.00 622.00
2014-12-31 2,953.00 604.00 608.00
2014-09-30 2,833.50 566.50 584.00
2014-06-30 2,714.00 529.00 560.00
2013-12-31 2,371.00 486.00 506.00
2013-09-30 2,209.00 464.50 478.50
2013-06-30 2,047.00 443.00 451.00

*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.
  • Italtile has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Italtile used its assets more efficiently than the ZA Specialty Retail industry average last year based on Return on Assets.
  • Italtile's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Italtile's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Specialty Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Italtile has a total score of 5/6, 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.

ITE Health

 How is Italtile'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 Italtile's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Italtile is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Italtile's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Italtile'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 5.9x 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 Italtile Company Filings, last reported 9 months ago.

JSE:ITE Past Debt and Equity Data
Date (Data in ZAR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 5,858.00 503.00 1,201.00
2019-03-31 5,858.00 503.00 1,201.00
2018-12-31 5,537.00 664.00 1,010.00
2018-09-30 5,537.00 664.00 1,010.00
2018-06-30 5,525.00 0.00 679.00
2018-03-31 5,525.00 0.00 679.00
2017-12-31 5,218.00 0.00 562.00
2017-09-30 5,218.00 0.00 562.00
2017-06-30 3,773.00 0.00 511.00
2017-03-31 3,773.00 0.00 511.00
2016-12-31 3,634.00 0.00 182.00
2016-09-30 3,634.00 0.00 182.00
2016-06-30 3,353.00 0.00 347.00
2016-03-31 3,353.00 0.00 347.00
2015-12-31 3,068.00 35.00 351.00
2015-09-30 3,068.00 35.00 351.00
2015-06-30 2,734.00 29.00 392.00
2015-03-31 2,734.00 29.00 392.00
2014-12-31 2,496.00 63.00 209.00
2014-09-30 2,496.00 63.00 209.00
2014-06-30 2,230.00 165.00 249.00
2013-12-31 2,049.00 288.00 177.00
2013-09-30 2,049.00 288.00 177.00
2013-06-30 2,303.00 44.00 303.00
  • Italtile's level of debt (8.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (7.3% vs 8.6% today).
  • Debt is well covered by operating cash flow (312.7%, greater than 20% of total debt).
  • Italtile earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Italtile'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. Italtile 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.

ITE Dividends

 What is Italtile's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.67%
Current annual income from Italtile dividends.
If you bought ZAR2,000 of Italtile shares you are expected to receive ZAR173 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?
  • Italtile's pays a higher dividend yield than the bottom 25% of dividend payers in South Africa (4.65%).
  • Italtile's dividend is below the markets top 25% of dividend payers in South Africa (13.76%).
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
JSE:ITE 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
South Africa Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 7.1%
South Africa Market Average Dividend Yield Market Cap Weighted Average of 170 Stocks 5.5%
South Africa Minimum Threshold Dividend Yield 10th Percentile 2.6%
South Africa Bottom 25% Dividend Yield 25th Percentile 4.6%
South Africa Top 25% Dividend Yield 75th Percentile 13.8%

Industry and Market average data is calculated daily.

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

JSE:ITE Past Annualized Dividends Data
Date (Data in ZAR) Dividend per share (annual) Avg. Yield (%)
2019-10-16 0.910 7.138
2018-10-01 0.380 2.770
2018-08-21 0.380 2.779
2017-09-29 0.300 2.186
2017-08-16 0.300 2.229
2017-02-10 0.320 2.413
2016-09-22 0.300 2.135
2016-08-25 0.300 2.041
2016-02-11 0.280 2.165
2015-08-27 0.260 2.194
2015-02-16 0.240 2.106
2014-08-21 0.200 2.027
2014-02-13 0.180 2.198
2013-08-14 0.160 2.203
2013-02-14 0.160 2.679
2012-10-11 0.140 2.257
2012-08-15 0.140 2.195
2012-02-16 0.140 2.507
2012-02-15 0.140 2.718
2011-09-19 0.120 2.595
2011-08-30 0.120 2.732
2010-08-19 0.110 2.690
2009-08-11 0.110 3.024
2009-06-30 0.110 3.857

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Italtile's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x 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 Italtile's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 2.6%) - 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 Italtile afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Italtile has a total score of 4/6, see the detailed checks below.


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

ITE Management

 What is the CEO of Italtile'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
Jan Potgieter
COMPENSATION ZAR20,270,000
AGE 50
TENURE AS CEO 3.3 years
CEO Bio

Mr. Jan Naude Potgieter, BCompt (Hons), CTA, CA(SA), has been the Chief Executive Officer of Italtile Ltd. since December 1, 2016. Mr. Potgieter served as Chief Operating Officer of Italtile Ltd. from August 1, 2014 to December 1, 2016. Mr. Potgieter was an Acting Chairman at Novus Holdings Limited since July 2018 until April 2, 2019. Mr. Potgieter served as the Chairman of the Cellular Forum and Divisional Chief Executive of Massdiscounters of Massmart Holdings Limited. He has extensive experience in the retail and supply chain sectors Development. He served as Managing Director of Massdiscounters of Massmart Holdings Limited from April 2007 to January 2013 and also served as Financial Director of Massdiscounters of Massmart Holdings Ltd. He joined Massdiscounters in 2005. He served as a Business Manager at Clover SA and spent seven years at SABMiller in senior financial roles, before he joined the Massmart Group. He had been an Independent Non-Executive Director at Novus Holdings Limited since February 23, 2015 until August 31, 2019 and served as its Lead Independent Non-Executive Director since April 3, 2017 until July 2018. He serves as a Non-Executive Director of Capital Property Fund Limited. He has been an Executive Director of Italtile Ltd. since August 1, 2014. He has been an Independent Non-Executive Director of Property Fund Managers Limited, the manager of Capital Property Fund since January 27, 2014. He has been an Independent Non-Executive Director of Fortress Income Fund Limited since December 1, 2015. He qualified as a CA doing his articles with PWC. Mr. Potgieter did Management Development Program from University of Michigan and studied Strategic Planning & Management in Retailing from Monash University Australia.

CEO Compensation
  • Jan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jan's remuneration is about average for companies of similar size in South Africa.
Management Team

Jan Potgieter

TITLE
CEO & Executive Director
COMPENSATION
ZAR20M
AGE
50
TENURE
3.3 yrs

Tsundzukani T. Mhlanga

TITLE
Executive Director of Group Finance & Administration and Director
COMPENSATION
ZAR5M
AGE
36
TENURE
1.9 yrs

Brandon Wood

TITLE
Executive Director of Retail & Director
COMPENSATION
ZAR11M
AGE
37

T. Molefakgotla

TITLE
Executive Officer
COMPENSATION
ZAR12M

L, Foxcrof

TITLE
Executive Officer
COMPENSATION
ZAR15M

E. Willis

TITLE
Company Secretary

Sergio Galli

TITLE
Manager of Italtile Retail Division
Board of Directors Tenure

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

5.7
Average Tenure
49
Average Age
  • The tenure for the Italtile board of directors is about average.
Board of Directors

Giovanni Alberto Ravazzotti

TITLE
Non-Executive Chairman
COMPENSATION
ZAR2M
AGE
76
TENURE
5.8 yrs

Jan Potgieter

TITLE
CEO & Executive Director
COMPENSATION
ZAR20M
AGE
50
TENURE
5.7 yrs

Luciana Langenhoven

TITLE
Deputy Chairman
COMPENSATION
ZAR192K
AGE
50
TENURE
1.7 yrs

Tsundzukani T. Mhlanga

TITLE
Executive Director of Group Finance & Administration and Director
COMPENSATION
ZAR5M
AGE
36
TENURE
1.9 yrs

Brandon Wood

TITLE
Executive Director of Retail & Director
COMPENSATION
ZAR11M
AGE
37
TENURE
6.9 yrs

Susan du Toit

TITLE
Lead Independent Non-Executive Director
COMPENSATION
ZAR884K
AGE
46

Ndumi Medupe

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR481K
AGE
49
TENURE
5.7 yrs

Brand Pretorius

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR550K
AGE
71
TENURE
8.8 yrs

Nkateko Khoza

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR291K
AGE
41
TENURE
1.9 yrs

Isaac Malevu

TITLE
Independent Non-Executive Director
TENURE
0.1 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 (ZAR) Value (ZAR)
05. Sep 19 Sell Giovanni Alberto Ravazzotti Individual 03. Sep 19 03. Sep 19 -7,186,731 ZAR14.30 ZAR-102,770,242
X
Management checks
We assess Italtile'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. Italtile 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.

ITE News

Simply Wall St News

ITE Company Info

Description

Italtile Limited manufactures and retails tiles, bathroom ware and related products in South Africa. It operates through six segments: Retail, Franchising, Properties, Supply and Support Services, Franchise Stores, and Manufacturing. The company is involved in franchising and retailing tiles, brassware, laminated flooring, bathroom ware, and accessories; and distributing tiles, shower enclosures, brassware, laminated flooring, accessories, and tiling tools. It also invests in properties; and manufactures tiles, sanitary ware, baths, adhesive, and related products. The company offers its products under the Italtile Retail, CTM, and TopT brands. As of June 30, 2019, it operated through a network of 189 stores in Southern and East Africa. The company was founded in 1969 and is based in Bryanston, South Africa. Italtile Limited is a subsidiary of Rallen (Pty) Ltd.

Details
Name: Italtile Limited
ITE
Exchange: JSE
Founded: 1969
ZAR12,836,329,180
1,222,507,541
Website: http://www.italtile.com
Address: Italtile Limited
The Italtile Building,
Corner William Nicol Drive and Peter Place,
Bryanston,
Gauteng, 2021,
South Africa
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JSE ITE Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 02. Jan 1992
Number of employees
Current staff
Staff numbers
2,545
Italtile employees.
Industry
Home Improvement Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/03 20:55
End of day share price update: 2020/04/03 00:00
Last earnings filing: 2019/10/16
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/06/30


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

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