Imperial Brands (IMB)

Sector:

Tobacco

Index:

FTSE 100

1,878.50p
   
  • Change Today:
      14.50p
  • 52 Week High: 1,934.00
  • 52 Week Low: 1,580.00
  • Currency: UK Pounds
  • Shares Issued: 861.72m
  • Volume: 2,488,348
  • Market Cap: £16,187m
  • RiskGrade: 154

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 8.8% 7.6% 8.9% 10.1% 11.3%
           
Continuing Operations          
PE Ratio - Adjusted 6.0 7.0 6.3 5.4 6.7
PE Ratio - Diluted 6.6
7.3		 11.3
8.2		 5.2
5.4		 8.6
6.5		 17.3
11.7
PEG - Adjusted 1.2 1.0 n/a n/a 0.2
PEG - Diluted 0.1
3.6		 n/a
n/a		 0.1
0.1		 0.2
0.2		 n/a
n/a
Return on Capital Employed 603.36%
141.59%		 235.07%
286.52%		 5.48%
5.33%		 647.09%
763.87%		 31.26%
37.52%
Operating Margin 3.05%
2.45%		 8.24%
10.10%		 9.59%
9.34%		 8.39%
9.75%		 6.95%
8.38%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 6.0 7.0 624.8 5.4 26.9
PE Ratio - Diluted 6.6
7.3		 11.3
8.1		 516.2
534.3		 8.6
7.8		 69.2
46.8
PEG - Adjusted 1.2 0.0 n/a 0.0 n/a
PEG - Diluted 0.1
7.3		 0.0
0.0		 n/a
n/a		 0.0
0.0		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Net Gearing 139.26% 122.52% 164.16% 211.97% 229.86%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Price/Book Value (1.5) (1.7) (1.4) (1.0) (1.3)
Price/Tangible Book Value (1.4) (1.6) (1.3) (1.0) (1.3)
Price/ Cash Flow 4.9 5.5 6.8 3.2 5.4
Price/Revenue 0.47 0.54 44.50 0.40 2.21
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) (1,116.75p) (1,088.99p) (1,135.87p) (1,338.63p) (1,365.37p)
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Continuing Operations          
Revenue 32,475.00 32,551.00 330.99 32,562.00 7,893.09
EBITDA 1,624.00
1,428.00		 3,343.00
3,948.00		 38.60
37.76		 3,636.00
4,079.00		 748.74
861.41
Depreciation (632.00)
(632.00)		 (660.00)
(660.00)		 (6.84)
(6.84)		 (905.00)
(905.00)		 (199.86)
(199.86)
Net Interest 2,112.00
2,112.00		 (117.00)
(117.00)		 0.82
0.82		 (610.00)
(610.00)		 (140.40)
(140.40)
Profit Before Tax 3,111.00
2,912.00		 2,551.00
3,135.00		 32.68
31.85		 2,166.00
2,667.00		 422.21
534.88
           
Revenue per Share 3,520.32p 3,440.18p 35.03p 3,447.90p 828.24p
Pre-Tax Profit per Share 337.24p
315.66p		 269.61p
331.32p		 3.46p
3.37p		 229.35p
282.40p		 44.30p
56.13p
Market Capitalisation £ (Millions) 17,015.02 18,933.93 15,907.57 13,958.04 17,395.24
Enterprise Value (EV) £ (Millions) 26,507.02 28,800.93 25,643.57 24,588.04 29,594.24
EBITDA/EV 6.13%
5.39%		 11.61%
13.71%		 0.15%
0.15%		 14.79%
16.59%		 2.53%
2.91%
Operating Margin 3.05%
2.45%		 8.24%
10.10%		 9.59%
9.34%		 8.39%
9.75%		 6.95%
8.38%
Capital Employed £ (Millions) 565.00 1,135.00 582.00 429.00 1,800.00
Return on Capital Employed 603.36%
141.59%		 235.07%
286.52%		 5.48%
5.33%		 647.09%
763.87%		 31.26%
37.52%
Invested Equity Capital £ (Millions) 7,158.00 8,044.00 6,595.00 5,991.00 6,115.00
           
Earnings per Share - Basic 252.40p
230.79p		 165.90p
227.65p		 299.90p
291.53p		 158.30p
211.35p		 106.00p
155.93p
Earnings per Share - Diluted 250.80p
229.37p		 164.70p
226.02p		 299.10p
290.76p		 158.10p
211.04p		 105.80p
155.62p
Earnings per Share - Adjusted 278.80p 265.20p 247.10p 254.40p 272.30p
Earnings per Share Growth - Basic 52%
1%		 -45%
-22%		 90%
38%		 49%
36%		 -40%
-11%
Earnings per Share Growth - Diluted 52%
2%		 -45%
-22%		 89%
38%		 49%
36%		 -40%
-11%
Earnings per Share Growth - Adjusted 5% 7% -3% -7% 28%
PE Ratio - Diluted 6.6
7.3		 11.3
8.2		 5.2
5.4		 8.6
6.5		 17.3
11.7
PEG - Diluted 0.1
3.6		 n/a
n/a		 0.1
0.1		 0.2
0.2		 n/a
n/a
Tax Rate 21.10% 34.53% 10.32% 29.04% 37.25%
Dividend Cover 1.90
1.57		 1.88
1.61		 1.78
2.10		 1.85
1.53		 1.32
0.75
Interest Cover (1.58)
(1.42)		 2.49
2.83		 4.31
4.22		 2.57
2.93		 2.16
2.47
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 252.40p
231.22p		 165.90p
229.87p		 3.03p
2.92p		 158.30p
176.20p		 26.48p
39.14p
Earnings per Share - Diluted 250.80p
229.80p		 164.70p
228.23p		 3.02p
2.92p		 158.10p
175.94p		 26.43p
39.06p
Earnings per Share - Adjusted 278.20p 265.20p 2.49p 254.40p 68.03p
Earnings per Share Growth - Basic 52%
1%		 5,380%
7,760%		 -98%
-98%		 498%
350%		 -85%
-78%
Earnings per Share Growth - Diluted 52%
1%		 5,355%
7,724%		 -98%
-98%		 498%
350%		 -85%
-78%
Earnings per Share Growth - Adjusted 5% 10,532% -99% 274% -68%
PE Ratio - Diluted 6.6
7.3		 11.3
8.1		 516.2
534.3		 8.6
7.8		 69.2
46.8
PEG - Diluted 0.1
7.3		 0.0
0.0		 n/a
n/a		 0.0
0.0		 n/a
n/a
Dividend Cover 1.89
1.57		 1.88
1.63		 0.02
0.02		 1.85
1.28		 0.33
0.19
Return on Equity (ROE) 32.52%
29.80%		 19.52%
27.04%		 0.43%
0.42%		 24.95%
27.77%		 4.13%
6.10%
Operating Cash Flow per Share 339.19p 336.71p 229.31p 426.73p 339.56p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (37.83p) 54.43p (0.35p) (64.70p) 40.37p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 146.82p 141.17p 139.08p 137.71p 206.57p
Dividend per Share Growth 4.00% 1.50% 0.99% (33.33%) 46.50%
Dividend Yield 8.8% 7.6% 8.9% 10.1% 11.3%
Shareholders Funds 6,021.00 6,860.00 5,352.00 4,871.00 4,937.00
Net Borrowings £ (Millions) 8,385.00 8,405.00 8,786.00 10,325.00 11,348.00
Net Asset Value per Share (inc. Intangibles) (1,184.07p) (1,153.77p) (1,198.10p) (1,407.14p) (1,433.26p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Shareholders' Funds inc Intangibles 6,021.00 6,860.00 5,352.00 4,871.00 4,937.00
Net Borrowings £ (Millions) 8,385.00 8,405.00 8,786.00 10,325.00 11,348.00
Net Gearing 139.26% 122.52% 164.16% 211.97% 229.86%
Cash & Near Cash 1,345.00 1,850.00 1,287.00 1,626.00 2,286.00
Cash 22.34% 26.97% 24.05% 33.38% 46.30%
Gross Borrowings 9,730.00 10,255.00 10,073.00 11,951.00 13,634.00
Gross Gearing 161.60% 149.49% 188.21% 245.35% 276.16%
Borrowings Under 5 years 9,730.00 10,255.00 10,073.00 11,951.00 13,634.00
Under 5 years 161.60% 149.49% 188.21% 245.35% 276.16%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Shareholders' Funds exc Intangibles (10,923.00) (10,917.00) (11,322.00) (13,289.00) (13,659.00)
Net Borrowings £ (Millions) 8,385.00 8,405.00 8,786.00 10,325.00 11,348.00
Net Gearing (76.76%) (76.99%) (77.60%) (77.70%) (83.08%)
Cash & Near Cash 1,345.00 1,850.00 1,287.00 1,626.00 2,286.00
Cash (12.31%) (16.95%) (11.37%) (12.24%) (16.74%)
Gross Borrowings 9,730.00 10,255.00 10,073.00 11,951.00 13,634.00
Gross Gearing 89.08% 93.94% 88.97% 89.93% 99.82%
Borrowings Under 5 years 9,730.00 10,255.00 10,073.00 11,951.00 13,634.00
Under 5 years (89.08%) (93.94%) (88.97%) (89.93%) (99.82%)
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Quick Ratio 0.34 0.43 0.40 0.45 0.55
Current Ratio 0.72 0.80 0.76 0.78 0.89

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

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