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Record PLC
LSE:REC

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Record PLC Logo
Record PLC
LSE:REC
Watchlist
Price: 63.45 GBX 2.17%
Updated: Mar 29, 2024

Intrinsic Value

Record Plc engages in the provision of currency management services. [ Read More ]

The intrinsic value of one REC stock under the Base Case scenario is 83.95 GBX. Compared to the current market price of 63.45 GBX, Record PLC is Undervalued by 24%.

Key Points:
REC Intrinsic Value
Base Case
83.95 GBX
Undervaluation 24%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Record PLC

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Fundamental Analysis

Record's Growth Strategy Amidst Management Changes
2024-Q2 Earnings Call

Record's Growth Strategy Amidst Management Changes

Record's leadership transitions are being carefully managed with new senior personnel ready to lead. While the long-term company growth is envisioned, the immediate plan to recoup first-half setbacks relies on new fund launches, counting on an infrastructure fund to generate revenue before year-end, despite uncertainties. Management fees have grown by 3% in the half-year, underpinning the steady growth of the underlying business. Senior team members, involved since intern stages, now helm the strategy, ensuring continuity as they launch and implement new products, including a complex infrastructure fund involving Swiss pension funds and a Dutch originator. This fund, promising higher and longer-lasting fees, has faced delays due to the intricate agreement processes involved.

Financials

Balance Sheet Decomposition
Record PLC

Current Assets 27.9m
Cash & Short-Term Investments 14.8m
Receivables 13.1m
Other Current Assets -10k
Non-Current Assets 7.4m
Long-Term Investments 4.5m
PP&E 1.2m
Intangibles 1.6m
Other Non-Current Assets 190k
Current Liabilities 6.2m
Accounts Payable 4.6m
Other Current Liabilities 1.6m
Non-Current Liabilities 680k
Long-Term Debt 550k
Other Non-Current Liabilities 130k
Efficiency

Earnings Waterfall
Record PLC

Revenue
44.1m GBP
Cost of Revenue
-60k GBP
Gross Profit
44m GBP
Operating Expenses
-31m GBP
Operating Income
13.1m GBP
Other Expenses
-3.2m GBP
Net Income
9.9m GBP

Free Cash Flow Analysis
Record PLC

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Table
What is Free Cash Flow?
Fundamental Scores

REC Profitability Score
Profitability Due Diligence

Record PLC's profitability score is 80/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROIC
Positive Free Cash Flow
Positive Gross Profit
Exceptional 3-Year Average ROE
80/100
Profitability
Score

Record PLC's profitability score is 80/100. The higher the profitability score, the more profitable the company is.

REC Solvency Score
Solvency Due Diligence

Record PLC's solvency score is 99/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
High Altman Z-Score
Short-Term Solvency
Long-Term Solvency
99/100
Solvency
Score

Record PLC's solvency score is 99/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

REC Price Targets Summary
Record PLC

Wall Street analysts forecast REC stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for REC is 142.8 GBX with a low forecast of 141.4 GBX and a high forecast of 147 GBX.

Lowest
Price Target
141.4 GBX
123% Upside
Average
Price Target
142.8 GBX
125% Upside
Highest
Price Target
147 GBX
132% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

REC Price
Record PLC

1M 1M
-4%
6M 6M
-18%
1Y 1Y
-24%
3Y 3Y
+1%
5Y 5Y
+189%
10Y 10Y
+123%
Annual Price Range
63.45
52w Low
62.1
52w High
98
Price Metrics
Average Annual Return 44.09%
Standard Deviation of Annual Returns 22.46%
Max Drawdown -37%
Shares Statistics
Market Capitalization 126.3m GBX
Shares Outstanding 191 900 000
Percentage of Shares Shorted
N/A

REC Return Decomposition
Main factors of price return

What is price return decomposition?

Company Profile

Record PLC Logo
Record PLC

Country

United Kingdom

Industry

Financial Services

Market Cap

126.3m GBP

Dividend Yield

7.51%

Description

Record Plc engages in the provision of currency management services. The company is headquartered in Windsor, Berkshire and currently employs 81 full-time employees. The company went IPO on 2007-12-03. The firm is an independent, specialist currency and derivatives manager. The company provides bespoke currency hedging, currency for return and additional currency solutions and consulting services. The Company’s solution includes advisory and execution solutions, currency solutions, and investment solutions. Its advisory and execution solutions include forex trade execution, multi-asset implementation, cash management, collateral management, research and advisory and regulatory reporting. Its currency solution includes active currency risk management, passive currency risk management, tenor management, real rates hedging, and volatility neutral hedging. Its investment solutions include currency risk premia/strategy, emerging market debt, frontier markets, and Siegfried trade finance .

Contact

BERKSHIRE
Windsor
Morgan House, Madeira Walk
+441753852222.0
http://www.recordcm.com/

IPO

2007-12-03

Employees

81

Officers

CEO & Executive Director
Ms. Leslie Hill Meier
CFO & Executive Director
Mr. Steven Peter Cullen C.A., F.C.A.
Chief Operating Officer
Mr. Joel Duncan Sleigh
Chief Investment Officer
Dr. Dmitri Eduardovich Tikhonov Ph.D.
Chief Technology Officer
Ms. Rebecca Venis
Head of Compliance
Mr. Grady Laurie
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Global Head of Sales & Executive Director
Dr. Jan Hendrik Josef Witte
Head of Human Resources & Company Secretary
Mr. Kevin Ayles
Managing Director of FX Risk Management Solutions
Mr. Andrey Rumyantsev
Director & Head of Macro Research
Mr. Andrew Bloomfield
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See Also

Discover More
What is the Intrinsic Value of one REC stock?

The intrinsic value of one REC stock under the Base Case scenario is 83.95 GBX.

Is REC stock undervalued or overvalued?

Compared to the current market price of 63.45 GBX, Record PLC is Undervalued by 24%.