Navitas Limited (NVT)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!


General Information
Company Name: Navitas Limited
Stock Code: NVT
Website: www.navitas.com
GICS Sub-Industry: Education Services
Market Cap ($M): 1,935
Equiv. Shares (M): 376

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 5.180 $ 5.130 $ 5.180 $ 5.090 $ 5.150 678,071 $ 0.030  0.583 %

Current Broker Consensus Recommendation more
Recommendation: Sell (3.5)
Recommendation Date: 18th Jul 2014
Brokers Surveyed: 2

Company Overview

Business Description:
Navitas Limited (NVT) is an education services provider operating in multiple cities around the world, offering a range of educational and training services for students and professionals across Australia and around the world.

Strategy Analysis:
NVT embeds itself into partner universities who welcome the additional direct revenues NVT delivers, as well as the expansion of supply of high-margin foreign students into the universities¬ī own degree and diploma courses. Contracts with universities generally have a term of at least 5 years allowing NVT to become well established. The engagement of qualified academics at partner universities to develop course content underpins curriculum quality. In addition, the application of the universities¬ī moderation processes ensures academic standards equivalent to those at the university. NVT is leveraging its domestic success to expand offshore into other English speaking regions such as the UK, Canada and the US, which hold similar attraction to non-English speaking students. Navitas reported NPAT down 0.8% to $35.07m for the half-year ended 31 December 2012. Revenues from ordinary activities were $355.4m, up 4.0% from the same period last year. Diluted EPS was 9.3 cents compared to 9.4 cents last year. Net operating cash flow was $37.74m compared to $19.53m last year. The interim dividend declared was 9.3 cents compared with 9.4 cents last year.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2015  F 97.6 25.9 19.3 20.0 25.9 5.0 100.0
2014  F 81.6 21.7 6.4 23.9 21.7 4.2 100.0
2013  A 76.5 20.4 4.5 23.2 19.5 4.1 100.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
G8 Education (GEM) $1,468 M 0.2766 0.8345 0.4400 37.7133 20.5581 14.2765 0.0271 0.0425 0.0631
Navitas (NVT) $1,935 M 0.0194 0.0851 0.1943 25.9185 23.8868 20.0000 0.0379 0.0411 0.0487
Vocation (VET) $649 M -- -- -- -- -- -- 0.0000 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
NVT 1.66 23.9 8.15 1.73 2.65
Market 0.97 16.4 1.26 2.09 1.64
Sector 1.26 17.8 2.90 1.64 2.26

Directors
Name Position Start Date
Mr Rodney Malcolm Jones Chief Executive Officer,Managing Director 18 June 2004
Mr Harvey Russell Collins Non-Executive Chairman 09 November 2004
Mr Edward (Ted) Alfred Evans Non-Executive Director 09 November 2004
Mr Antoni M Cipa Non-Executive Director 01 May 2014
Mr James (Jim) King Non-Executive Director 09 November 2004
Mr Peter Devon Larsen Non-Executive Director 18 June 2004
Ms Tracey Horton Non-Executive Director 13 June 2012

Management
Name Position
Taylia Rocci Assistant Company Secretary, Legal Counsel
Lyndell Fraser Chief Executive Officer - Professional and English Programs
Romy Hawatt Chief Executive Officer - SAE
John Wood Chief Executive Officer - University Programs
Bryce Houghton Chief Financial Officer
Hugh Hangchi Company Secretary,Group General Counsel

Substantial Shareholders
Holding Name
28,727,357 (7.65%) Larsen, Peter Devon
24,591,084 (6.55%) Coolah Holdings Pty Ltd
22,171,248 (5.91%) JCP Investment Partners Ltd
45,017,995 (11.99%) Jones, Rodney Malcolm
35,745,567 (9.52%) Hyperion Asset Management Limited

Calendar of Events
Date Event
29 January 2015 Report (Interim)
02 October 2014 Report (Annual)
29 July 2014 Report (Prelim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Unlisted Property Trusts

A property trust allows you to buy 'units' in an investment operated by a professional investment manager. This Guide will help you understand the risks and decide whether to invest your money.

More details...

News

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

Bega Cheese holds back in three-way bidding war for WCB

The Age 19/12/2013 | Bega Cheese began the battle for Warrnambool Cheese & Butter but three months on it appears to be the first casualty of the bidding war.

Aussie hampers transition

The Age 19/12/2013 | A persistently high Australian dollar is thwarting the Reserve Bank's efforts to ease the transition of the economy away from mining.

RBA keeps its focus on lower dollar

The Age 19/12/2013 | The Reserve Bank is keeping the door open to further interest rate cuts, but believes the "significant amount" of monetary policy easing over the past two years is already stimulating growth.

Pact's struggles weigh down Orora

The Age 19/12/2013 | The underwhelming sharemarket debut of packaging company Pact Group Holdings has weighed on the demerger of Amcor and its $2 billion Australasian packaging and distribution business Orora.

More...


Sponsored Links