SSE (SSE)

Sector:

Electricity Generation and Distribution

Index:

FTSE 100

1,655.00p
   
  • Change Today:
      4.50p
  • 52 Week High: 1,900.00
  • 52 Week Low: 1,508.00
  • Currency: UK Pounds
  • Shares Issued: 1,093.44m
  • Volume: 3,028,935
  • Market Cap: £18,096m
  • RiskGrade: 133

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 5.4% 4.9% 5.6% 6.1% 8.2%
           
Continuing Operations          
PE Ratio - Adjusted 10.9 18.4 16.6 15.6 19.2
PE Ratio - Diluted n/a
n/a		 7.3
18.6		 6.8
19.2		 32.1
27.1		 9.6
19.2
PEG - Adjusted 0.1 2.3 3.3 0.4 n/a
PEG - Diluted n/a
n/a		 0.6
0.8		 0.0
0.3		 n/a
n/a		 0.1
n/a
Return on Capital Employed n/a
n/a		 18.97%
6.88%		 0.16%
0.07%		 6.32%
6.32%		 2.55%
1.52%
Operating Margin (6.47%)
12.36%		 41.85%
17.79%		 39.70%
16.57%		 14.17%
14.17%		 20.33%
11.46%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 10.9 18.4 1,647.4 15.6 76.9
PE Ratio - Diluted n/a
10.7		 6.1
18.8		 660.3
1,832.6		 n/a
701.7		 34.5
76.9
PEG - Adjusted 0.1 0.0 n/a 0.0 n/a
PEG - Diluted n/a
0.1		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing 95.16% 99.23% 149.95% 266.85% 193.31%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Price/Book Value 2.1 2.3 2.6 3.5 2.5
Price/Tangible Book Value 2.9 2.7 3.5 5.1 3.3
Price/ Cash Flow 13.0 11.3 8.3 10.4 10.3
Price/Revenue 1.55 2.12 219.79 1.98 6.65
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 851.16p 762.24p 561.03p 369.85p 472.96p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Continuing Operations          
Revenue 12,490.70 8,697.20 68.91 6,800.60 1,824.13
EBITDA (202.60)
2,149.30		 4,186.00
2,093.30		 33.79
17.85		 963.40
963.40		 498.66
336.87
Depreciation (606.00)
(606.00)		 (546.30)
(546.30)		 (6.44)
(6.44)		 n/a
n/a		 (127.81)
(127.81)
Net Interest (59.30)
(59.30)		 (273.20)
(273.20)		 (2.39)
(2.39)		 (375.80)
(295.27)		 (78.27)
(69.93)
Profit Before Tax (205.60)
(205.60)		 3,476.30
1,086.20		 25.40
9.46		 587.60
668.13		 324.85
171.16
           
Revenue per Share 1,161.28p 824.38p 6.62p 658.65p 178.54p
Pre-Tax Profit per Share (19.11p)
(19.11p)		 329.51p
102.96p		 2.44p
0.91p		 56.91p
64.71p		 31.80p
16.75p
Market Capitalisation £ (Millions) 19,723.02 18,763.15 15,223.67 13,654.22 12,426.70
Enterprise Value (EV) £ (Millions) 27,548.92 24,417.95 23,436.67 22,450.32 18,828.50
EBITDA/EV (0.74%)
7.80%		 17.14%
8.57%		 0.14%
0.08%		 4.29%
4.29%		 2.65%
1.79%
Operating Margin (6.47%)
12.36%		 41.85%
17.79%		 39.70%
16.57%		 14.17%
14.17%		 20.33%
11.46%
Capital Employed £ (Millions) 20,256.80 19,768.30 16,818.00 15,237.00 15,829.10
Return on Capital Employed n/a
n/a		 18.97%
6.88%		 0.16%
0.07%		 6.32%
6.32%		 2.55%
1.52%
Invested Equity Capital £ (Millions) 10,625.70 10,739.80 6,776.30 4,996.30 6,251.90
           
Earnings per Share - Basic (14.70p)
(6.77p)		 241.20p
94.04p		 215.70p
75.83p		 40.60p
48.22p		 123.70p
61.80p
Earnings per Share - Diluted (14.70p)
(6.76p)		 240.70p
93.86p		 215.40p
75.71p		 40.60p
48.15p		 123.70p
61.80p
Earnings per Share - Adjusted 166.00p 94.80p 87.50p 83.60p 61.80p
Earnings per Share Growth - Basic n/a
n/a		 12%
24%		 431%
57%		 -67%
-22%		 124%
-51%
Earnings per Share Growth - Diluted n/a
n/a		 12%
24%		 430%
57%		 -67%
-22%		 124%
-51%
Earnings per Share Growth - Adjusted 75% 8% 5% 35% -50%
PE Ratio - Diluted n/a
n/a		 7.3
18.6		 6.8
19.2		 32.1
27.1		 9.6
19.2
PEG - Diluted n/a
n/a		 0.6
0.8		 0.0
0.3		 n/a
n/a		 0.1
n/a
Tax Rate 12.67% 26.18% 9.07% 20.68% (0.85%)
Dividend Cover 1.72
(0.07)		 1.11
1.10		 1.08
0.94		 1.04
0.60		 0.63
0.63
Interest Cover 0.48
0.48		 10.24
3.89		 7.76
3.52		 2.28
2.78		 4.25
2.93
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (11.40p)
168.61p		 286.90p
93.32p		 2.21p
0.80p		 (5.70p)
1.86p		 34.45p
15.44p
Earnings per Share - Diluted (11.40p)
168.35p		 286.40p
93.14p		 2.20p
0.79p		 (5.70p)
1.86p		 34.45p
15.44p
Earnings per Share - Adjusted 166.00p 94.80p 0.88p 83.60p 15.44p
Earnings per Share Growth - Basic n/a
81%		 12,896%
11,635%		 n/a
-57%		 n/a
-88%		 -38%
-88%
Earnings per Share Growth - Diluted n/a
81%		 12,897%
11,631%		 n/a
-57%		 n/a
-88%		 -38%
-88%
Earnings per Share Growth - Adjusted 75% 10,633% -99% 442% -88%
PE Ratio - Diluted n/a
10.7		 6.1
18.8		 660.3
1,832.6		 n/a
701.7		 34.5
76.9
PEG - Diluted n/a
0.1		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 1.72
1.74		 1.11
1.09		 0.01
0.01		 1.04
0.02		 0.16
0.16
Return on Equity (ROE) (1.16%)
17.07%		 28.18%
9.17%		 0.34%
0.12%		 (1.18%)
0.38%		 5.63%
2.52%
Operating Cash Flow per Share 138.90p 154.30p 174.58p 125.93p 115.17p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (14.64p) (52.22p) 1.39p (35.08p) 7.20p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 96.70p 85.70p 81.00p 80.00p 97.50p
Dividend per Share Growth 12.84% 5.80% 1.25% (17.95%) 10.29%
Dividend Yield 5.4% 4.9% 5.6% 6.1% 8.2%
Shareholders Funds 8,583.90 8,077.80 5,208.70 3,750.40 4,622.60
Net Borrowings £ (Millions) 8,168.10 8,015.40 7,810.40 10,007.80 8,936.00
Net Asset Value per Share (inc. Intangibles) 615.80p 658.77p 419.58p 256.56p 358.47p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds inc Intangibles 8,583.90 8,077.80 5,208.70 3,750.40 4,622.60
Net Borrowings £ (Millions) 8,168.10 8,015.40 7,810.40 10,007.80 8,936.00
Net Gearing 95.16% 99.23% 149.95% 266.85% 193.31%
Cash & Near Cash 891.80 1,049.30 1,600.20 164.60 431.60
Cash 10.39% 12.99% 30.72% 4.39% 9.34%
Gross Borrowings 9,059.90 9,064.70 9,410.60 10,172.40 9,367.60
Gross Gearing 105.55% 112.22% 180.67% 271.24% 202.65%
Borrowings Under 5 years 9,059.90 9,064.70 9,410.60 10,172.40 9,367.60
Under 5 years 105.55% 112.22% 180.67% 271.24% 202.65%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds exc Intangibles 6,623.60 6,950.00 4,367.40 2,649.00 3,662.50
Net Borrowings £ (Millions) 8,168.10 8,015.40 7,810.40 10,007.80 8,936.00
Net Gearing 123.32% 115.33% 178.83% 377.80% 243.99%
Cash & Near Cash 891.80 1,049.30 1,600.20 164.60 431.60
Cash 13.46% 15.10% 36.64% 6.21% 11.78%
Gross Borrowings 9,059.90 9,064.70 9,410.60 10,172.40 9,367.60
Gross Gearing 136.78% 130.43% 215.47% 384.01% 255.77%
Borrowings Under 5 years 9,059.90 9,064.70 9,410.60 10,172.40 9,367.60
Under 5 years 136.78% 130.43% 215.47% 384.01% 255.77%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio 1.13 1.43 1.22 0.63 0.99
Current Ratio 1.21 1.49 1.29 0.67 1.03

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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