Does anyone think the administration of SIPPs and the like is going to be as much a growth opportunity in the future as it has been in the past? I ask because of JIM’s metrics seem quite compelling.
I don’t currently own JIM, but maybe it is one to put on watchlist ready for the inevitable dip? (Maybe overbought due to Simon Thomson rec @ IC, and low mkt cap).
The cashflow is a bit lumpy relative to operating profit, but it seems to even out over time. There is a good sized director shareholding.
At a market cap of £88m, could it ever be the size of AJ Bell (£1,755m) or HL. (£6,700m) whilst paying dividends out along the way? Or is it just B2B rather than B2C/retail, which limits it’s potential runway?
Some stats below, with apologies for the formatting:
Metric, Most recent, 3 yr ave
Market Cap, £88.8m
Enterprise Value, £83.6m
FCF Conversion, 135%, 16.7%
ROCE, 77.9%, 79.7%
ROE, 64.9%, 64.1%
Net profit margin, 37.2%, 35.8%
Debt/mkt cap, 0.3% -
PE, 22.1, 17.8
Date floated 23/12/04, 900% capital return
Capital CAGR, 15.2% since float
Total return CAGR, 19% Since float
NEFF TRR, 5/12 subsector, 13/55 sector