Smiths Group (SMIN)

Sector:

Manufacturing

Index:

FTSE 100

1,659.00p
   
  • Change Today:
    -4.00p
  • 52 Week High: 1,824.00
  • 52 Week Low: 1,526.00
  • Currency: UK Pounds
  • Shares Issued: 344.56m
  • Volume: 207,618
  • Market Cap: £5,716m
  • RiskGrade: 127

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 2.4% 2.6% 2.4% 2.6% 2.8%
           
Continuing Operations          
PE Ratio - Adjusted 17.4 22.1 26.2 27.3 24.0
PE Ratio - Diluted 26.8
17.5		 550.9
22.0		 39.8
41.3		 83.1
63.6		 46.8
28.6
PEG - Adjusted 0.4 1.2 1.4 n/a n/a
PEG - Diluted 0.0
0.5		 n/a
0.3		 0.3
0.5		 n/a
n/a		 n/a
n/a
Return on Capital Employed 22.09%
27.41%		 4.52%
16.10%		 0.12%
0.12%		 8.95%
10.17%		 3.21%
3.79%
Operating Margin 13.24%
16.46%		 5.61%
16.25%		 13.55%
12.72%		 9.46%
10.75%		 13.05%
15.41%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 17.4 18.7 1,655.2 16.0 96.1
PE Ratio - Diluted 26.1
17.5		 5.8
18.7		 2,161.3
2,317.8		 20.4
24.1		 116.3
76.8
PEG - Adjusted 1.0 0.0 n/a 0.0 n/a
PEG - Diluted n/a
1.0		 0.0
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Net Gearing 15.48% 4.08% 45.67% 50.36% 51.69%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Price/Book Value 6.8 5.3 6.7 6.5 9.3
Price/Tangible Book Value 6.9 5.4 6.8 6.6 9.6
Price/ Cash Flow (55.5) 21.4 11.5 12.5 18.8
Price/Revenue 1.97 2.32 253.86 2.11 10.42
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 250.79p 293.01p 233.38p 209.49p 176.04p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Continuing Operations          
Revenue 3,037.00 2,566.00 24.29 2,548.00 624.07
EBITDA 537.00
635.00		 273.00
546.00		 4.69
4.49		 385.00
418.00		 105.68
120.42
Depreciation (135.00)
(135.00)		 (129.00)
(129.00)		 (1.40)
(1.40)		 (144.00)
(144.00)		 (24.23)
(24.23)
Net Interest (42.00)
(35.00)		 (41.00)
(41.00)		 (0.87)
(0.87)		 (108.00)
(108.00)		 (5.50)
(12.74)
Profit Before Tax 360.00
465.00		 103.00
376.00		 2.42
2.36		 133.00
166.00		 75.95
83.44
           
Revenue per Share 860.61p 663.60p 6.13p 643.12p 157.62p
Pre-Tax Profit per Share 102.01p
131.77p		 26.64p
97.24p		 0.61p
0.60p		 33.57p
41.90p		 19.18p
21.07p
Market Capitalisation £ (Millions) 6,156.43 6,114.12 6,165.65 5,368.66 6,501.61
Enterprise Value (EV) £ (Millions) 6,805.43 7,276.12 6,422.65 5,648.66 6,780.61
EBITDA/EV 7.89%
9.33%		 3.75%
7.50%		 0.07%
0.07%		 6.82%
7.40%		 1.56%
1.78%
Operating Margin 13.24%
16.46%		 5.61%
16.25%		 13.55%
12.72%		 9.46%
10.75%		 13.05%
15.41%
Capital Employed £ (Millions) 1,824.00 2,590.00 2,696.00 2,694.00 2,536.00
Return on Capital Employed 22.09%
27.41%		 4.52%
16.10%		 0.12%
0.12%		 8.95%
10.17%		 3.21%
3.79%
Invested Equity Capital £ (Millions) 2,643.00 2,990.00 2,671.00 2,676.00 2,690.00
           
Earnings per Share - Basic 63.80p
97.48p		 2.80p
70.34p		 39.40p
37.84p		 16.40p
21.45p		 35.40p
57.84p
Earnings per Share - Diluted 63.40p
96.99p		 2.80p
70.04p		 39.10p
37.63p		 16.30p
21.31p		 35.10p
57.48p
Earnings per Share - Adjusted 97.50p 69.80p 59.30p 49.70p 68.40p
Earnings per Share Growth - Basic 2,179%
39%		 -93%
86%		 140%
76%		 -54%
-63%		 -43%
-31%
Earnings per Share Growth - Diluted 2,164%
38%		 -93%
86%		 140%
77%		 -54%
-63%		 -43%
-30%
Earnings per Share Growth - Adjusted 40% 18% 19% -27% -21%
PE Ratio - Diluted 26.8
17.5		 550.9
22.0		 39.8
41.3		 83.1
63.6		 46.8
28.6
PEG - Diluted 0.0
0.5		 n/a
0.3		 0.3
0.5		 n/a
n/a		 n/a
n/a
Tax Rate 37.22% 87.38% 34.58% 49.62% 53.29%
Dividend Cover 2.34
2.34		 1.76
1.78		 1.57
1.00		 1.42
0.61		 1.49
1.26
Interest Cover 5.62
7.55		 2.87
7.84		 3.38
3.32		 2.10
2.37		 5.90
9.15
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 65.50p
97.48p		 267.10p
83.02p		 0.72p
0.68p		 66.90p
56.54p		 14.19p
21.52p
Earnings per Share - Diluted 65.10p
96.99p		 266.00p
82.66p		 0.72p
0.67p		 66.40p
56.17p		 14.12p
21.39p
Earnings per Share - Adjusted 97.50p 82.50p 0.94p 84.80p 17.09p
Earnings per Share Growth - Basic -76%
17%		 36,805%
12,200%		 -99%
-99%		 371%
163%		 -77%
-74%
Earnings per Share Growth - Diluted -76%
17%		 36,860%
12,216%		 -99%
-99%		 370%
163%		 -77%
-74%
Earnings per Share Growth - Adjusted 18% 8,679% -99% 396% -80%
PE Ratio - Diluted 26.1
17.5		 5.8
18.7		 2,161.3
2,317.8		 20.4
24.1		 116.3
76.8
PEG - Diluted n/a
1.0		 0.0
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a
Dividend Cover 2.34
2.34		 2.08
2.10		 0.02
0.02		 2.42
1.62		 0.37
0.47
Return on Equity (ROE) 8.78%
13.02%		 34.62%
10.74%		 0.11%
0.10%		 9.90%
8.37%		 2.09%
3.17%
Operating Cash Flow per Share (30.60p) 72.15p 134.98p 108.28p 87.39p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (217.63p) 139.65p 0.23p 24.48p (26.00p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 41.60p 39.60p 37.70p 35.00p 45.90p
Dividend per Share Growth 5.05% 5.04% 7.71% (23.75%) 11.95%
Dividend Yield 2.4% 2.6% 2.4% 2.6% 2.8%
Shareholders Funds 2,384.00 2,699.00 2,402.00 2,373.00 2,360.00
Net Borrowings £ (Millions) 369.00 110.00 1,097.00 1,195.00 1,220.00
Net Asset Value per Share (inc. Intangibles) 244.55p 287.32p 228.08p 204.19p 170.73p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Shareholders' Funds inc Intangibles 2,384.00 2,699.00 2,402.00 2,373.00 2,360.00
Net Borrowings £ (Millions) 369.00 110.00 1,097.00 1,195.00 1,220.00
Net Gearing 15.48% 4.08% 45.67% 50.36% 51.69%
Cash & Near Cash 285.00 1,056.00 405.00 366.00 289.00
Cash 11.95% 39.13% 16.86% 15.42% 12.25%
Gross Borrowings 654.00 1,166.00 1,502.00 1,561.00 1,509.00
Gross Gearing 27.43% 43.20% 62.53% 65.78% 63.94%
Borrowings Under 5 years 654.00 1,166.00 1,502.00 1,561.00 1,509.00
Under 5 years 27.43% 43.20% 62.53% 65.78% 63.94%
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 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Shareholders' Funds exc Intangibles 863.00 1,111.00 904.00 809.00 676.00
Net Borrowings £ (Millions) 369.00 110.00 1,097.00 1,195.00 1,220.00
Net Gearing 42.76% 9.90% 121.35% 147.71% 180.47%
Cash & Near Cash 285.00 1,056.00 405.00 366.00 289.00
Cash 33.02% 95.05% 44.80% 45.24% 42.75%
Gross Borrowings 654.00 1,166.00 1,502.00 1,561.00 1,509.00
Gross Gearing 75.78% 104.95% 166.15% 192.95% 223.22%
Borrowings Under 5 years 654.00 1,166.00 1,502.00 1,561.00 1,509.00
Under 5 years 75.78% 104.95% 166.15% 192.95% 223.22%
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 31-Jul-23 31-Jul-22 31-Jul-21 31-Jul-20 31-Jul-19
Quick Ratio 1.23 1.32 2.39 2.32 2.49
Current Ratio 1.94 1.73 2.77 2.76 2.94

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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