| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.36B | 2.29B | 2.14B | 2.07B | 2.04B | 1.89B |
| Gross Profit | 1.32B | 1.28B | 1.20B | 1.12B | 1.12B | 1.02B |
| EBITDA | 570.70M | 540.20M | 455.50M | 419.10M | 405.40M | 390.70M |
| Net Income | 216.70M | 190.50M | 130.30M | 62.90M | 117.60M | 112.50M |
Balance Sheet | ||||||
| Total Assets | 3.77B | 3.52B | 3.71B | 3.59B | 3.67B | 3.77B |
| Cash, Cash Equivalents and Short-Term Investments | 95.70M | 64.70M | 98.30M | 145.80M | 463.40M | 565.40M |
| Total Debt | 1.34B | 1.20B | 1.31B | 1.30B | 1.44B | 1.55B |
| Total Liabilities | 1.96B | 1.83B | 2.02B | 1.98B | 1.98B | 2.10B |
| Stockholders Equity | 1.81B | 1.69B | 1.69B | 1.61B | 1.69B | 1.67B |
Cash Flow | ||||||
| Free Cash Flow | 349.60M | 274.10M | 238.20M | 137.50M | 211.80M | 313.30M |
| Operating Cash Flow | 477.70M | 396.20M | 367.40M | 281.70M | 305.90M | 399.50M |
| Investing Cash Flow | -180.90M | -160.80M | -285.70M | -348.30M | -206.50M | -56.30M |
| Financing Cash Flow | -297.60M | -263.80M | -124.00M | -237.10M | -199.90M | -162.10M |
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £3.89B | 13.61 | 15.66% | 4.07% | 3.73% | 27.13% | |
70 Outperform | £12.02B | 32.64 | 9.30% | 2.27% | 2.51% | 56.56% | |
69 Neutral | £713.52M | 46.76 | 6.00% | 1.62% | 5.74% | 63.23% | |
69 Neutral | £488.82M | 53.18 | 3.66% | 1.26% | 68.03% | -18.27% | |
68 Neutral | £4.80B | 29.62 | 12.73% | 2.23% | 4.18% | 37.65% | |
55 Neutral | £708.98M | 38.30 | 2.51% | 1.32% | 6.95% | -34.38% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
ConvaTec Group PLC has completed its share buyback program, purchasing 1,912,745 ordinary shares through UBS AG London Branch, as part of a $300 million initiative announced earlier in August 2025. The shares, bought at an average price of 230.19 pence, will be held in treasury, and this transaction concludes the buyback program, potentially impacting the company’s share value and market positioning.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 3,975,464 ordinary shares as part of its ongoing $300 million share buyback program announced in August 2025. This strategic move, facilitated through UBS AG London Branch, is intended to optimize the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, which may impact the company’s stock price and voting rights.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 284,667 ordinary shares as part of its $300 million share buyback program announced earlier in August 2025. The purchased shares will be held in treasury, and this move is expected to impact the company’s share capital structure, potentially enhancing shareholder value by reducing the number of shares in circulation.
Convatec Group Plc announced its total voting rights as of November 30, 2025, with an issued share capital comprising over 2 billion ordinary shares, of which approximately 1.96 billion carry voting rights. The company also noted that shares purchased under a buyback program are in the settlement process and will be held in treasury. This update is relevant for shareholders to determine their notification obligations under the FCA’s rules.
ConvaTec Group PLC announced the purchase of 806,991 of its ordinary shares as part of a share buyback program valued up to $300 million. This move, executed through UBS AG London Branch, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value, with the purchased shares being held in treasury.
ConvaTec Group PLC has announced the purchase of 259,860 ordinary shares as part of its $300 million share buyback program initiated in August 2025. The shares were acquired at a volume-weighted average price of 234.29 pence and will be held in treasury. This move is part of ConvaTec’s strategy to optimize its capital structure and return value to shareholders, potentially enhancing its market position and investor confidence.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 30,024 ordinary shares as part of its $300 million share buyback program announced earlier in August 2025. The shares, acquired through UBS AG London Branch, will be held in treasury, and this move is part of the company’s strategy to manage its capital structure and return value to shareholders. This transaction reflects ConvaTec’s ongoing commitment to optimizing shareholder value and may influence its market position by reducing the number of shares in circulation, potentially impacting share value and investor interest.
ConvaTec Group PLC has executed a share buyback transaction as part of its previously announced $300 million program. The company purchased 237,996 ordinary shares at a volume-weighted average price of 235.49 pence per share, which will be held in treasury. This move is part of ConvaTec’s strategy to manage its capital structure and return value to shareholders, potentially impacting its market positioning and shareholder interests.
ConvaTec Group PLC has executed a share buyback, purchasing 906,241 ordinary shares as part of its $300 million buyback program announced earlier in August 2025. The shares were bought at a volume-weighted average price of 236.32 pence and will be held in treasury, which affects the company’s total voting rights and share capital structure, potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.
ConvaTec Group PLC has executed a share buyback, purchasing 439,326 ordinary shares as part of its $300 million buyback program announced in August 2025. This move is part of the company’s strategy to manage its capital structure effectively, impacting its financial positioning by increasing the number of shares held in treasury and potentially influencing shareholder value.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,454,288 ordinary shares at prices ranging from 236.00 to 238.40 pence per share. This buyback is part of a previously announced $300 million program, with the acquired shares held in treasury. The move is likely to impact the company’s financial structure by reducing the number of shares in circulation, potentially increasing shareholder value.
ConvaTec Group PLC has announced the purchase of 1,398,917 ordinary shares as part of its ongoing share buyback program, which aims to repurchase up to $300 million in shares. This move is part of the company’s strategy to manage its capital structure effectively and return value to shareholders. The shares were acquired at prices ranging from 232.40 to 235.00 pence and will be held in treasury, increasing the company’s total treasury shares to 84,629,928. This transaction reflects ConvaTec’s commitment to enhancing shareholder value and optimizing its financial operations.
ConvaTec Group PLC has announced the repurchase of 3,332,480 ordinary shares as part of its $300 million share buyback program initiated in August 2025. The shares were bought at a volume-weighted average price of 231.60 pence and will be held in treasury, affecting the total voting rights and share calculations for stakeholders.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,640,217 of its ordinary shares through UBS AG London Branch. This move is part of a broader $300 million share buyback initiative announced earlier in August 2025. The shares were acquired at prices ranging from 236.00 to 237.40 pence and will be held in treasury. This transaction increases ConvaTec’s treasury shares to 79,898,531, while the total shares in issue stand at 1,969,891,028. The buyback is expected to enhance shareholder value and reflects the company’s confidence in its financial health.
ConvaTec has reported strong growth driven by new product launches, achieving a 6.3% year-to-date organic revenue growth excluding InnovaMatrix, and is on track to meet its financial targets for FY25. The company anticipates further growth in FY26, with double-digit adjusted EPS growth and operating margin expansion, despite market uncertainties related to InnovaMatrix. ConvaTec continues to expand its product offerings and market presence, securing significant contracts and advancing its innovation pipeline, which positions it well for sustained growth and stakeholder confidence.
ConvaTec Group PLC has executed a significant share buyback, purchasing 2,446,184 ordinary shares as part of its $300 million buyback program announced earlier this year. This move reflects the company’s strategic initiative to enhance shareholder value and optimize its capital structure, potentially impacting its market positioning and stakeholder interests.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,812,238 ordinary shares as part of a previously announced $300 million initiative. The shares, bought at an average price of 236.42 pence, will be held in treasury, impacting the company’s share capital structure and potentially benefiting shareholders by increasing the value of remaining shares.
ConvaTec Group PLC has announced the repurchase of 2,926,541 of its ordinary shares as part of a $300 million share buyback program. This move is part of the company’s strategy to manage its capital structure and return value to shareholders, potentially enhancing its market position and financial stability.
ConvaTec Group PLC has executed a share buyback program, purchasing 2,386,575 ordinary shares at prices ranging from 233.00 to 243.40 pence, as part of its $300 million buyback initiative announced earlier in August 2025. This transaction is expected to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share and strengthening the company’s market position.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 1,280,162 ordinary shares as part of its previously announced $300 million buyback program. The shares were acquired at a volume-weighted average price of 243.49 pence and will be held in treasury. This move is part of ConvaTec’s strategy to enhance shareholder value and optimize its capital structure, potentially impacting its market positioning and investor relations.
Convatec Group PLC has announced the appointments of Jonny Mason as Chief Executive Officer and Fiona Ryder as Chief Financial Officer. These leadership changes reflect the company’s commitment to building on its recent successful transformation and continuing its focus on innovation and growth. Jonny Mason, who has been with Convatec since 2022, is recognized for his leadership in the company’s turnaround and is expected to drive further growth. Fiona Ryder, with her extensive experience in global finance, will continue to support the company’s strategic goals. These appointments are anticipated to strengthen Convatec’s market position and enhance value for stakeholders.
ConvaTec Group PLC announced the purchase of 2,623,293 ordinary shares as part of its $300 million share buyback program initiated in August 2025. This transaction is intended to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share and improving the company’s market position.
Convatec has announced its total voting rights as of October 31, 2025, with an issued share capital of 2,049,789,559 ordinary shares, of which 52,991,686 are held in treasury and not considered for dividends or voting. The total number of voting rights is 1,996,797,873, a figure crucial for shareholders under the FCA’s Disclosure and Transparency Rules. Additionally, 10,466,657 shares are in the process of settlement following a share buyback program initiated in August 2025, which will also be held in treasury once settled.
ConvaTec Group PLC has executed a share buyback, purchasing over 2 million ordinary shares as part of its $300 million buyback program announced earlier in August 2025. This strategic move is aimed at consolidating the company’s share capital, potentially enhancing shareholder value and reflecting confidence in its financial health.
ConvaTec Group PLC has executed a share buyback transaction, purchasing over 2.24 million ordinary shares as part of its previously announced $300 million share buyback program. The shares were acquired at prices ranging from 241.20 to 243.80 pence and will be held in treasury. This move is part of ConvaTec’s strategy to optimize its capital structure and return value to shareholders, reflecting confidence in its financial position and future prospects.
ConvaTec Group PLC has executed a share buyback, purchasing 2,372,762 ordinary shares as part of its $300 million buyback program announced earlier in August 2025. The shares were acquired at prices ranging from 242.00 to 246.00 pence and will be held in treasury, impacting the company’s share capital structure and potentially enhancing shareholder value.
ConvaTec Group PLC has executed a share buyback, purchasing 1,560,372 ordinary shares as part of its $300 million share buyback program announced in August 2025. The shares, bought at an average price of 247.41 pence, will be held in treasury, increasing the company’s treasury shares to 54,552,058. This move is likely aimed at enhancing shareholder value and optimizing the company’s capital structure.
Convatec has announced the passing of its CEO, Karim Bitar, who had been on medical leave since August 2025. The company has expressed deep sorrow over the loss and extended condolences to his family. Interim leadership arrangements are currently in place, and further announcements will be made in due course. This development is significant for Convatec as it navigates leadership transitions while maintaining its market position in the medical solutions industry.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 285,122 ordinary shares as part of its $300 million share buyback program announced in August 2025. The shares were bought at prices ranging from 247.00 to 249.00 pence and will be held in treasury. This move is part of ConvaTec’s strategy to optimize its capital structure and return value to shareholders, potentially enhancing its market position and investor confidence.
ConvaTec Group PLC has announced the repurchase of 952,813 ordinary shares as part of its $300 million share buyback program. This strategic move is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
ConvaTec Group PLC has announced the repurchase of 735,364 ordinary shares as part of its ongoing $300 million share buyback program initiated in August 2025. This transaction reflects ConvaTec’s commitment to enhancing shareholder value and optimizing its capital structure, with the purchased shares being held in treasury. The company’s total voting rights now stand at 1,998,035,808 ordinary shares, excluding treasury shares, which may impact shareholder notifications under regulatory guidelines.
ConvaTec Group PLC has executed a share buyback program, purchasing over 1.1 million of its ordinary shares through UBS AG London Branch. This move is part of a previously announced $300 million buyback initiative, aimed at optimizing the company’s capital structure and enhancing shareholder value. The purchased shares will be held in treasury, and the company now holds over 51 million shares in treasury, with nearly 2 billion shares in issue, impacting shareholder voting rights and potentially influencing market perceptions of the company’s financial health.
ConvaTec Group PLC has executed a share buyback, acquiring over one million of its ordinary shares through UBS AG London Branch as part of a $300 million program announced earlier. This move is expected to enhance shareholder value and optimize the company’s capital structure, reflecting confidence in its financial stability and future growth prospects.
ConvaTec Group PLC announced the purchase of 439,212 ordinary shares as part of its $300 million share buyback program initiated in August 2025. This strategic move, executed through UBS AG London Branch, is designed to enhance shareholder value and optimize the company’s capital structure, reflecting ConvaTec’s commitment to returning capital to shareholders.
ConvaTec Group PLC has announced a purchase of 420,064 ordinary shares as part of its ongoing $300 million share buyback program. This move is expected to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share and reflecting the company’s confidence in its financial position.
ConvaTec Group PLC announced the purchase of 980,727 ordinary shares as part of its $300 million share buyback program initiated in August 2025. This strategic move is intended to enhance shareholder value and optimize the company’s capital structure, reflecting confidence in its financial health and future prospects.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 948,052 ordinary shares as part of its $300 million share buyback program announced in August 2025. The shares were bought at prices ranging between 238.80 and 241.80 pence and will be held in treasury. This move aims to optimize the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,763,576 ordinary shares at prices ranging from 238.00 to 239.80 pence per share, as part of its $300 million buyback initiative announced in August 2025. This strategic move, facilitated through UBS AG London Branch, underscores ConvaTec’s commitment to enhancing shareholder value and optimizing its capital structure, potentially impacting its market positioning and shareholder engagement.
ConvaTec Group PLC has executed a share buyback transaction, acquiring 2,197,889 ordinary shares as part of a previously announced $300 million buyback program. This move is expected to optimize the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share and providing a signal of confidence in the company’s financial health.
ConvaTec Group PLC has executed a share buyback as part of its $300 million program, purchasing 633,625 ordinary shares through UBS AG London Branch. The shares, bought at an average price of 241.51 pence, will be held in treasury, affecting the company’s total voting rights and potentially impacting shareholder interests.
ConvaTec Group PLC announced the purchase of 1,115,198 ordinary shares as part of its $300 million share buyback program. This transaction, executed through UBS AG London Branch, reflects ConvaTec’s strategic initiative to enhance shareholder value by reducing the number of shares in circulation, thereby potentially increasing earnings per share and strengthening its market position.
ConvaTec Group PLC has announced the purchase of 1,648,655 ordinary shares as part of its ongoing share buyback program, which aims to repurchase shares worth up to $300 million. This move is part of the company’s strategy to manage its capital structure and return value to shareholders, potentially enhancing its market position and shareholder confidence.
ConvaTec Group PLC has announced the repurchase of 527,553 of its ordinary shares as part of a previously declared $300 million share buyback program. The shares, purchased through UBS AG London Branch, will be held in treasury, impacting the company’s total voting rights and potentially enhancing shareholder value by reducing the number of shares in circulation.
Convatec Group Plc announced that Non-Executive Director Sharon O’Keefe has transferred 3,200 ordinary shares as a charitable donation to The Chicago Community Trust. This transaction reflects Convatec’s commitment to social responsibility and may enhance its reputation within the industry, potentially impacting stakeholder perceptions positively.
ConvaTec Group PLC has announced the purchase of 580,718 ordinary shares as part of its ongoing share buyback program, which aims to repurchase up to $300 million worth of shares. This transaction reflects the company’s strategy to enhance shareholder value and optimize its capital structure, potentially impacting its stock market performance and stakeholder interests.
ConvaTec Group PLC has announced the purchase of 950,470 of its own ordinary shares as part of a share buyback program valued at up to $300 million, initiated on August 20, 2025. The shares, purchased at prices ranging from 232.80 to 236.20 pence, will be held in treasury, impacting the company’s total voting rights and potentially enhancing shareholder value. This move reflects ConvaTec’s strategic focus on optimizing its capital structure and returning value to shareholders, which could strengthen its market position and stakeholder confidence.
Convatec Group Plc has announced the pricing of a $500 million offering of 5.300% senior notes due in 2035, issued by its subsidiary 180 Medical, Inc. The proceeds from this issuance will be used to refinance existing debt, including prepaying the company’s outstanding term loan facility and a portion of its revolving credit facility, as well as for general corporate purposes. This financial maneuver is expected to strengthen Convatec’s financial position and operational flexibility, potentially impacting its market standing and providing reassurance to stakeholders regarding its debt management strategy.
Convatec Group Plc has announced its total voting rights as of September 30, 2025, in compliance with the UK Financial Conduct Authority’s Disclosure and Transparency Rules. The company’s issued share capital consists of 2,049,789,559 ordinary shares, with 34,295,510 shares held in treasury, resulting in 2,015,494,049 voting rights. This information is crucial for shareholders to determine their interest in the company. Additionally, Convatec is in the process of settling 2,077,998 shares purchased under a share buyback program, which will also be held in treasury.
ConvaTec Group PLC announced the purchase of over one million of its own shares as part of a $300 million share buyback program. This strategic move is intended to enhance shareholder value and optimize the company’s capital structure, indicating a strong financial position and confidence in future growth prospects.
ConvaTec Group PLC has executed a share buyback program, purchasing over a million of its ordinary shares through UBS AG London Branch. This move is part of a previously announced $300 million buyback initiative aimed at enhancing shareholder value. The shares acquired will be held in treasury, and the total voting rights for the company now stand at over 2 billion shares. This strategic financial maneuver underscores ConvaTec’s commitment to optimizing its capital structure and potentially boosting its stock market performance, which could positively impact its stakeholders.
ConvaTec Group PLC has announced the purchase of 1,439,340 ordinary shares as part of its $300 million share buyback program, initially announced in August 2025. The shares were acquired at prices ranging from 223.00 to 227.20 pence, with an average price of 225.69 pence per share, and will be held in treasury. This move is part of ConvaTec’s strategy to optimize its capital structure and enhance shareholder value, reflecting confidence in its financial health and future prospects.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 1,809,168 ordinary shares as part of its $300 million buyback program announced in August 2025. The shares were acquired at prices ranging from 233.80 to 238.20 pence and will be held in treasury, impacting the company’s total voting rights and potentially influencing shareholder interests.
ConvaTec Group PLC has announced the purchase of 329,131 ordinary shares as part of a $300 million share buyback program initiated in August 2025. This move is part of the company’s strategy to enhance shareholder value and optimize its capital structure, reflecting confidence in its financial health and future growth prospects.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,491,986 ordinary shares at prices ranging from 231.00 to 232.60 pence per share. This buyback is part of a larger $300 million program announced in August 2025, and the acquired shares will be held in treasury. This move is likely to impact the company’s share value and provide a strategic advantage in managing its capital structure, potentially benefiting shareholders by increasing the value of remaining shares.
ConvaTec Group PLC has executed a share buyback program, purchasing over 2 million of its ordinary shares through UBS AG London Branch. This buyback is part of a $300 million program announced in August 2025, aimed at optimizing the company’s capital structure and potentially enhancing shareholder value. The purchased shares will be held in treasury, and the current total voting rights stand at over 2 billion shares, excluding treasury shares.
ConvaTec Group PLC announced the purchase of 688,220 ordinary shares as part of its $300 million share buyback program. This move, executed through UBS AG London Branch, reflects the company’s strategy to optimize its capital structure and potentially enhance shareholder value by reducing the number of shares in circulation, which could positively impact earnings per share.
ConvaTec Group PLC has executed a share buyback transaction, purchasing 1,380,335 ordinary shares at a volume-weighted average price of 231.74 pence per share. This move is part of a larger $300 million share buyback program announced in August 2025, which aims to optimize the company’s capital structure and potentially enhance shareholder value. The purchased shares will be held in treasury, adjusting the total voting rights to 2,027,613,359 shares, excluding treasury shares.
ConvaTec Group PLC has announced the purchase of 1,501,379 ordinary shares as part of its $300 million share buyback program. This transaction, executed through UBS AG London Branch, reflects the company’s strategic initiative to manage its capital structure and potentially enhance shareholder value. The shares will be held in treasury, and the company now holds a total of 20,795,865 shares in treasury, with 2,028,993,694 shares in issue. This move could impact the company’s market positioning by signaling confidence in its financial health and commitment to returning value to shareholders.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,380,495 ordinary shares at prices ranging from 235.00 to 237.20 pence per share, with an average price of 236.03 pence. This move is part of a larger $300 million buyback initiative announced in August 2025, aimed at optimizing the company’s capital structure and potentially enhancing shareholder value by reducing the number of shares in circulation.
ConvaTec Group PLC has executed a share buyback program, purchasing 1,575,563 ordinary shares at prices ranging from 235.80 to 238.00 pence per share, as part of a previously announced $300 million buyback initiative. This move is intended to enhance shareholder value by reducing the number of shares in circulation, potentially increasing the value of remaining shares and demonstrating confidence in the company’s financial health.
Convatec Group Plc announced the grant of share options under its 2017 Save as You Earn scheme to interim executives Jonny Mason and Fiona Ryder. These options, covering a total of 18,686 ordinary shares, are exercisable from September 2028, reflecting the company’s commitment to aligning managerial interests with long-term shareholder value.
ConvaTec Group PLC has announced the purchase of 1,354,470 of its ordinary shares as part of a share buyback program valued at up to $300 million, initially announced in August 2025. This move is part of the company’s strategy to manage its capital structure effectively and could potentially enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
ConvaTec Group PLC has announced the purchase of 1,221,168 ordinary shares as part of its $300 million share buyback program. This strategic move is aimed at optimizing the company’s capital structure and enhancing shareholder value, reflecting confidence in its financial health and future prospects.
ConvaTec Group PLC has announced the purchase of 1,194,433 ordinary shares as part of its $300 million share buyback program. The shares were acquired through UBS AG London Branch and will be held in treasury. This move is part of ConvaTec’s strategy to optimize its capital structure and return value to shareholders, potentially enhancing the company’s market position and financial flexibility.
Convatec has announced the exercise and grant of share options under its 2017 Save as You Earn scheme, involving key executives Jonny Mason and Karim Bitar. Jonny Mason, Interim CEO, exercised options for 10,346 shares, while CEO Karim Bitar was granted options for 10,253 shares. These transactions highlight Convatec’s commitment to aligning managerial interests with company performance, potentially impacting stakeholder confidence and market positioning.
ConvaTec Group PLC has executed a share buyback program, purchasing over 1.19 million ordinary shares at an average price of 239.24 pence per share. This move is part of a larger $300 million buyback initiative announced in August 2025, aimed at optimizing the company’s capital structure and enhancing shareholder value.