Identify investment, land and building opportunities, 24/7 instant access via web-based platform, Investors Delayed London Stock Exchange Rightmove declared a final dividend of 4.5 pence a share, having cancelled its 4.4 pence a share the previous year to conserve cash. Another is an economic fall-out from Covid-19. Revenue is up 6m/4% on 2019, due to growth in Agency and Other revenues, partially offset by a decline in New Homes revenues, Operating profit of 114.9m, up 86% on 2020 (2020: 61.7m) and 6% on 2019 (108.2m), Underlying operating profit of 117.1m, up 91% on 2020 (2020: 61.4m) and 5% on 2019 (111.0m), Basic earnings per share up 89% to 10.8p (2020: 5.7p), underlying earnings per share 11.0p (2020: 5.7p). Giving home-hunters the tools to quickly assess the suitability and affordability of the properties they view has been a priority in the first half of 2021. Stock analysis for Rightmove PLC (RMV:London) including stock price, stock chart, company news, key statistics, fundamentals and company profile. This affordability crisis and pending recession are forecasted to decimate the housing market. Agency revenue increased by 43.0m year on year to 109.6m, as customers increased their spend, 2020's discounts reversed and we saw strong product purchase and package upgrades in response to the buoyant market. Over the last month, the consensus earnings per share forecast for 2021 has risen by 0.37p to 20.8p. The pandemic highlighted the importance of a good home, as often it is not just a place to live but also work for many people. Housing Associations, Support land acquisition and building decisions, Consistent report built by our specialist team, Support full or desktop valuations supplied to lenders, 24/7 instant access via web-based platform or API integration, Support lending decisions where a surveyors report isnt required, Investors Earnings upgrades can support a companys share price. I wrote this article myself, and it expresses my own opinions. No liability is accepted by the author, The Motley Fool Ltd or Richdale Brokers and Financial Services Ltd for any loss or detriment experienced by any individual from any decision, whether consequent to, or in any way related to the content provided by The Motley Fool Ltd; the provision of which is an unregulated activity. In 2021, the ranking of the world's largest car brands was topped by Toyota with a market share of around 10.5 percent. Offers over 395,000. haart takes the last place on the podium where individual estate agency brands are concerned at 1.6%, although Savills (1.5%), Your Move (1.4%) and Arun (1.4%) aren't far behind. However, this year's revenue was still 4% higher than the 143.9m achieved in 2019. House prices in the UK are forecasted to fall by at least 10% in 2023. Rightmove dominates the online property market in the UK, with an 84% market share. The shares last closed at 507.80p. However, if I increase revenue growth rates to 10% per year over the next 2 to 5 years which is slightly more realistic, the stock is "fairly valued". As mentioned in the introduction the high inflation and rising interest rate environment is squeezing the real estate customer. In 2019, it reported monthly ARPA of 1,077 pounds. In order to value Rightmove I have plugged the latest financials into my advanced valuation model which uses the discounted cash flow method of valuation. Any performance statistics that do not adjust for exchange rate changes are likely to result in an inaccurate portrayal of real returns for sterling-based investors. OTM said its typical fees for a selling agent might range from 177 a month to 655 a month depending on its location. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article. Access large-scale data sourced directly from the UKs number one property portal to support your property and investment decisions. The strong take-up of our premium Optimiser 2020 package shows agents' continued belief in the Rightmove platform, as they invest in our digital products and innovative algorithms to help them to identify more opportunities to succeed. We expect the second half of the year to follow a broadly similar pattern, with good ARPA growth led by ongoing adoption of Optimiser 2020, broadly stable Agency branches and continued growth in our other businesses and the increased demand for properties continuing to impact the availability of New Homes development numbers. I am not receiving compensation for it (other than from Seeking Alpha). We publish information, opinion and commentary about consumer credit products, loans, mortgages, insurance, savings and investment products and services, including those of our affiliate partners. Shareholders of record on Thursday, September 29th will be given a dividend of GBX 3.30 per share on Friday, October 28th. Therefore the fact the stock is close to fairly valued, given the bleak outlook is no surprise. Rightmove's network effects continue to position us at the heart of the UK property market and our financial performance in 2021 reflects the trust that our customers placed in our digital products to help their . If you would like to be alerted when a regulatory news item is added, please register with our alert service. Interviewed Hedge Fund Managers and CEO's. If you require any personal advice or recommendations, please speak to an independent qualified financial adviser. For the six months ended 30 June, revenue came in at 149.9m, up 58% on H1 2020, and up 4% on H1 2019. This begs the question. If youre not sure which solution is right for you, our specialist team are happy to help. Rightmove plc published this content on 30 July 2021 and is solely responsible for the information contained therein. This is down from 148.8m a year earlier. Average price paid 152,000 Sales 1 Current average value 138,210 (Zoopla Zed-Index) Value change 308 0.22%. The company has extremely high profitability with a spectacular operating margin of 73%. Despite these issues, I believe the housing market is extremely robust in the UK due to the supply/demand situation and it will rebound, as it has done cyclically in the past. I have no business relationship with any company whose stock is mentioned in this article. At 290.333 pcm, the proposed rent for this property is 0 pcm (0%) higher than the current average rent for a 1-bedroom flat in St Asaph (290 pcm) and 0 pcm (0%) higher than the current average rent for a 1-bedroom flat in LL17 (290 pcm). Rightmove's position as the place home-hunters turn to first was further strengthened, with market share of time on portals at 90% (4) Time on site averaged 1.7 billion (5) minutes per month over the period (2020: 1.1 billion; 2019 1.1 billion), reflecting Rightmove's trusted brand and the strong property market. Rightmove recently released its 2021 Annual Report. If youd like more information about Rightmove Data Services and how Rightmove data can benefit you, our specialist team are happy to help. Theyll spend some time understanding what you need the property data to support and work with you to decide the best solution. Help To Buy Ends : what else is available? Great companies with high profitability and a dominant market share are rarely cheap. Total Equity as on Dec-2021 was 70.5 Million GBP. However, the New Homes market has been forward-sold for the entirety of the reporting period; some developers reduced discretionary spend on our suite of digital advertising products and development listings decreased by 211 developments in the first half, as developments sold out and did not need to be advertised. The buoyant New Homes market has temporarily softened New Homes ARPA, by 1% relative to H1 2019. Rightmoves purpose to make home moving easier in the UK is achieved through the delivery of our strategy, supported by an effective system of governance throughout the Group. Rightmove plc, the UK's largest property portal, today announces its unaudited results for the six months ended 30 June 2021. If you're looking to buy then you'll want to know how many properties are listed. Home-hunters have relied on Rightmove more than ever as the place they turn to research the property market and to find their next property. [email protected] This property is currently on the market for 4,750,000 with Jackson Stops via Rightmove. Edward Sheldon owns shares of Rightmove. If economic conditions deteriorate, Rightmoves profits could take a hit. (created by author Ben at Motivation 2 Invest), (Created by author Ben at Motivation 2 Invest). Consider taking independent financial advice. Visits to Rightmove were 1.4 billion, an increase of 54% on 2019's corresponding figures. I think those metrics are quite reasonable, given Rightmoves market dominance, its growth track record, and its historical profitability (five-year average return on capital employed of 854%). VAT Number: 188035783. Over the last month, Rightmoves share price has risen about 9%. This was down 11% from the 1.7 billion hours, but still up a substantial 36% from the 1.1 billion hours generated in 2019. Basic EPS increased by 89% to 10.8p (2020: 5.7p; 2019: 9.9p), driven by the increase in year on year profit, together with the benefit of reinstating the share buyback programme - which reduced the weighted average number of ordinary shares in issue to 865.9m (2020: 871.7m; 2019: 888.2m). The first half of 2021 has delivered healthy ARPA growth, record low Agency churn and product innovation for both customers and home-hunters. The company is also offering a "mortgage in principle" live in Rightmove which reduces friction in the process. The cost increases were partially offset by 1.3m of, FTSE 100 Closes Down 0.1% as Eyes Turn to US. Although this is a great start, I would like to see the business move a lot faster learning from businesses such as Zillow. 3 rooms. The decrease in net assets from December 2020 reflects the strong trading position and the return of cash to shareholders by way of dividends and share buybacks in 2021. Recognising that we have a role to play in developing the next generation of talent and increasing social mobility we are delighted to be launching the Rightmove Generating Genius Scholarship for a university student. Thus in this post, I'm going to breakdown the business model, financials, and valuation of Rightmove, as the business is starting to look tasty at these levels, let's dive in. Over the last year, its climbed around 15%. 4 10-bedroom house, Ottery St Mary, 5.9 million Rightmove You may recognise this breathtaking. The Company will publish a pre-recorded audio results presentation at 7.30am today, followed by an audio Q&A session for analysts and investors at 9.30am with Peter Brooks-Johnson, CEO, and Alison Dolan, CFO. You can think of it as the UK version of Zillow. I have forecasted the business's operating margin to increase to a spectacular 76% over the next 6 years. As for the valuation, I dont see it as stretched after the recent share price rise. Find out more Weve been collecting many of these data points since Rightmove launched in 2000. This is forecasted to be driven by the high inflation and rising interest rate environment which have impacted the affordability of houses in the UK. Its Revenue growth was driven by strong Average Revenue per Agent (ARPA) growth of 11% to 1,290. Disclosure: I/we have a beneficial long position in the shares of RMV either through stock ownership, options, or other derivatives. Local Authorities Revenue Split (Investor Presentation 2022). Alan Oscroft, When it comes to a new investment in the FTSE, I'm very tempted to top up on one of these, For a couple of pounds a day our writer thinks he could earn money without working for it. These earnings are fantastic given the company increased its costs for product development, sales, marketing, and even recruitment in the first half of 2022. Our aim is to create a simpler and more efficient property marketplace, making home moving easier in the UK. It looks as though Rightmove's management has now seen the light (maybe they read my post) and is now starting to innovate again. The company . Market capitalization of Rightmove (3JDA.F) Market cap: $4.64 Billion As of November 2022 Rightmove has a market cap of $4.64 Billion . 19th July 2021 0 505 Views. When also removing the impact of the one-off release of the Van Mildert contingent consideration provision of 2.4m, the adjusted underlying operating profit is 114.7m with an adjusted margin of 77%. Recently, RMV hit a new all-time high. We are committed to further increasing our diversity by promoting Rightmove roles to under-represented ethnic groups and the LGBTQ+ community, and we'll continue to support all our people through our mental health and wellbeing programme. Rightmove, the UK's No.1 portal by time spent on the platform, said ARPA jumped 63% to a record 1,163 pounds ($1,621.45) per month. This makes Rightmove the world's 2365th most valuable company by market cap according to our data. which is the largest online property portal in the UK has seen its stock price get butchered by over 40% from its all-time high in December 2021. In 2021, Rightmove says it had 208 million visits per month across its platforms and Zoopla says its listing search results pages attracted over 120 million visits per month. 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