Summerset Group Holdings Limited (SMGRF)
NEUTRALFundamental
48
Kurs
$7.77
Marktkapitalisierung
$1.89B
Teil 1 · Was das Unternehmen wert ist
Übersicht
Summerset builds and operates retirement villages in New Zealand and Australia, where it sells residents the right to occupy a unit for life in exchange for an upfront payment, then provides care services — from independent living to full nursing care — as residents age. It is both a developer, building new villages on land it buys, and a long-term operator running dining, care and community services for thousands of residents already living in its villages.
Wie das Geld verdient wird
Revenue is a mix of several streams rather than a single product sale: weekly fees residents pay for care and village services, a share of the gain when a departing resident's occupation right is resold to a new one, and government subsidies for eligible aged-care residents that make up a majority of the care revenue. Because these streams are recognized differently — some upfront, some accrued over years of occupancy — reported revenue does not map cleanly onto new-unit sales in any given year.
Was die Nachfrage antreibt
DefensivDemand is driven by an aging population choosing to move into a retirement village, a decision that is only loosely tied to the economic cycle since it follows health and life-stage needs more than discretionary spending power. It is not fully immune to downturns, though, since a resident's ability to buy an occupation right often depends on selling their existing home first.
Die Argumente dafür
Buyers argue that an aging population in New Zealand and Australia gives Summerset a decades-long demand tailwind, that owning the land bank lets it capture development margin most competitors cannot, and that record deliveries and underlying profit in fiscal 2025 show the model scaling as intended.
Die Argumente dagegen
Sellers fear that resales gains depend on house-price and property-market conditions outside the company's control, that a housing downturn could slow the pace at which prospective residents can sell their own homes to buy in, and that a large land and development bank ties up capital for years before it converts into cash.
Written by the editors, published on 18. August 2026
Direct competitors
Who this company fights with for the same customers
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Bilanz & Liquidität
Umsatz
$363M
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Nettogewinn
$262M
Letzte 12 Monate bis zum zuletzt gemeldeten Quartal — Schätzung aus Kennzahlen je Aktie
Freier Cashflow
$-74M
Gesamtes Eigenkapital
$3.34B
Gesamtverbindlichkeiten
$1.99B
Current Ratio
0.13
Zinsdeckungsgrad
-
Schulden/EBITDA
65.83
Gewinn je Aktie
Umsatz & Nettogewinn
Freier Cashflow
Ertragsaufschlüsselung
Historische Aufstellung
Margen im Zeitverlauf
Verschuldung im Zeitverlauf
Wie schwer die Schulden wiegen
Wachstumsraster
Wachstum — Umsatz
Innerer-Wert-Schätzung
Innerer Wert
$10.48
Aktueller Kurs
$7.77
Sicherheitsmarge
+25.9%
Innerer-Wert-Spanne
$8.18 - $12.78
Bewertungsmethoden
Bewertungskennzahlen
P/E-Verhältnis
7.23
ROE
8.3%
P/B-Verhältnis
0.57
P/FCF
-
Bruttomarge
90.0%
ROIC
0.1%
Rentabilitäts-Radar
Value Creation (Economic Moat)
ROIC
0.1%
WACC
5.4%
ROIC − WACC
-5.3 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Fundamentalanalyse-Kriterien
Bestanden (9)
- Gross Margin 90.0%
- P/B Ratio 0.57
- Debt/Equity ratio
- Operating Margin 75.0%
- Price below Graham Number
- ROE 8.0%
- Revenue Growth 5Y 16.0%
- Analyst Consensus 80% Buy
- Earnings Quality (OCF/NI) 2.11
Nicht bestanden (9)
- Price CAGR 4.65%
- ROIC 0.1%
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- DCF valuation (Unknown)
- PEG Ratio 6.00
- Net Margin Trend 71.8% vs 106.2%
- Piotroski F-Score 2/9
Nicht verfügbar (9)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Earnings Surprise (Finnhub)
- Share Dilution (missing shares data)
Piotroski F-Score
Ernsthafte finanzielle Bedenken
Gewinnqualität
Hohe Qualität: Gewinne durch Cashflow gedeckt
Aktienverwässerung
Aktienrückkäufe. Aktionärsfreundlich
Unternehmensführung
Führungsteam
| Name | Position | Alter |
|---|---|---|
| Mr. Scott Grady Scoullar BCA, C.A., FCPA | Chief Executive Officer | - |
| Mr. John O'Sullivan | Founder | - |
| Ms. Margaret Warrington | Chief Financial Officer | - |
| Ms. Robyn Heyman | Head of Legal & Company Secretary | - |
| Mr. David Martin | Chief Sales & Marketing Transformation Lead | - |
| Ms. Chris Lokum BMS | Chief People Officer | - |
| Mr. Dean Tallentire B.Sc. | Chief Construction Officer of NZ | - |
| Ms. Eleanor Young B.Sc. | Chief Operating Officer of NZ | - |
| Mr. Aaron Smail B.E., BBS | Chief Development Officer of NZ | - |
| Mr. Stewart Scott | Chief Operating Officer of Australia | - |
Prüfungsrisiko
4
Vorstandsrisiko
4
Vergütungsrisiko
6
Aktionärsrechterisiko
7
Teil 2 · Der Preis und der Einstiegszeitpunkt
Dieser Teil sagt nicht, ob das Unternehmen etwas taugt: Er hilft bei der Wahl des Kaufzeitpunkts, nachdem die Fundamentaldaten überzeugt haben. Enthalten: technische Analyse, Potenzial, historische Drawdowns, Gamma-Exposure.
Latest News
Recent headlines for SMGRF, sourced from Markets Gazette.