SSE (SSE)

Sector:

Electricity Generation and Distribution

Index:

FTSE 100

1,676.00p
   
  • Change Today:
    -23.00p
  • 52 Week High: 2,013.00p
  • 52 Week Low: 1,547.00p
  • Currency: UK Pounds
  • Shares Issued: 1,103.48m
  • Volume: 1,798,110
  • Market Cap: £18,494m
  • RiskGrade: 133
  • Beta: 0.97

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Annualisation Factor 1.0 1.0 1.0 n/a 1.0
Dividend Yield 3.6% 5.4% 4.9% 5.6% 6.1%
           
Continuing Operations          
PE Ratio - Adjusted 10.4 10.9 18.4 16.6 15.6
PE Ratio - Diluted 10.5
13.6		 n/a
11.2		 7.3
18.6		 6.8
19.2		 32.1
27.1
PEG - Adjusted n/a 0.1 2.3 3.3 0.4
PEG - Diluted n/a
n/a		 n/a
0.2		 0.6
0.8		 0.0
0.3		 n/a
n/a
Return on Capital Employed 12.50%
10.71%		 n/a
10.23%		 18.97%
6.88%		 0.16%
0.07%		 6.32%
6.32%
Operating Margin 23.86%
21.28%		 (1.65%)
16.57%		 41.85%
17.79%		 39.70%
16.57%		 14.17%
14.17%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 10.4 10.9 18.4 1,647.4 15.6
PE Ratio - Diluted 10.5
13.7		 n/a
11.2		 6.1
18.8		 660.3
1,832.6		 n/a
701.7
PEG - Adjusted n/a 0.1 0.0 n/a 0.0
PEG - Diluted n/a
n/a		 n/a
0.2		 0.0
0.0		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Net Gearing 88.30% 95.51% 99.23% 149.95% 266.85%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Price/Book Value 1.9 2.1 2.3 2.6 3.5
Price/Tangible Book Value 2.6 2.9 2.7 3.5 5.1
Price/ Cash Flow 4.7 13.0 11.3 8.3 10.4
Price/Revenue 1.72 1.55 2.12 219.79 1.98
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 868.15p 848.17p 762.24p 561.03p 369.85p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Continuing Operations          
Revenue 10,457.20 12,490.70 8,697.20 68.91 6,800.60
EBITDA 2,495.10
2,225.10		 (205.60)
2,069.30		 4,186.00
2,093.30		 33.79
17.85		 963.40
963.40
Depreciation n/a
n/a		 n/a
n/a		 (546.30)
(546.30)		 (6.44)
(6.44)		 n/a
n/a
Net Interest n/a
n/a		 n/a
n/a		 (273.20)
(273.20)		 (2.39)
(2.39)		 (375.80)
(295.27)
Profit Before Tax 2,495.10
2,235.00		 (205.60)
2,069.30		 3,476.30
1,086.20		 25.40
9.46		 587.60
668.13
           
Revenue per Share 957.79p 1,161.28p 824.38p 6.62p 658.65p
Pre-Tax Profit per Share 228.53p
204.71p		 (19.11p)
192.39p		 329.51p
102.96p		 2.44p
0.91p		 56.91p
64.71p
Market Capitalisation £ (Millions) 18,087.30 19,723.02 18,763.15 15,223.67 13,654.22
Enterprise Value (EV) £ (Millions) 25,895.10 27,548.92 24,417.95 23,436.67 22,450.32
EBITDA/EV 9.64%
8.59%		 (0.75%)
7.51%		 17.14%
8.57%		 0.14%
0.08%		 4.29%
4.29%
Operating Margin 23.86%
21.28%		 (1.65%)
16.57%		 41.85%
17.79%		 39.70%
16.57%		 14.17%
14.17%
Capital Employed £ (Millions) 20,861.40 20,224.60 19,768.30 16,818.00 15,237.00
Return on Capital Employed 12.50%
10.71%		 n/a
10.23%		 18.97%
6.88%		 0.16%
0.07%		 6.32%
6.32%
Invested Equity Capital £ (Millions) 11,420.00 10,593.50 10,739.80 6,776.30 4,996.30
           
Earnings per Share - Basic 156.70p
121.64p		 (14.70p)
160.58p		 241.20p
94.04p		 215.70p
75.83p		 40.60p
48.22p
Earnings per Share - Diluted 156.50p
121.48p		 (14.70p)
160.33p		 240.70p
93.86p		 215.40p
75.71p		 40.60p
48.15p
Earnings per Share - Adjusted 158.50p 166.00p 94.80p 87.50p 83.60p
Earnings per Share Growth - Basic n/a
-24%		 n/a
71%		 12%
24%		 431%
57%		 -67%
-22%
Earnings per Share Growth - Diluted n/a
-24%		 n/a
71%		 12%
24%		 430%
57%		 -67%
-22%
Earnings per Share Growth - Adjusted -4% 75% 8% 5% 35%
PE Ratio - Diluted 10.5
13.6		 n/a
11.2		 7.3
18.6		 6.8
19.2		 32.1
27.1
PEG - Diluted n/a
n/a		 n/a
0.2		 0.6
0.8		 0.0
0.3		 n/a
n/a
Tax Rate 24.48% 53.50% 26.18% 9.07% 20.68%
Dividend Cover 2.64
2.03		 1.72
1.66		 1.11
1.10		 1.08
0.94		 1.04
0.60
Interest Cover n/a
n/a		 n/a
n/a		 10.24
3.89		 7.76
3.52		 2.28
2.78
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 156.70p
120.91p		 (11.40p)
160.58p		 286.90p
93.32p		 2.21p
0.80p		 (5.70p)
1.86p
Earnings per Share - Diluted 156.50p
120.75p		 (11.40p)
160.33p		 286.40p
93.14p		 2.20p
0.79p		 (5.70p)
1.86p
Earnings per Share - Adjusted 158.50p 166.00p 94.80p 0.88p 83.60p
Earnings per Share Growth - Basic n/a
-25%		 n/a
72%		 12,896%
11,635%		 n/a
-57%		 n/a
-88%
Earnings per Share Growth - Diluted n/a
-25%		 n/a
72%		 12,897%
11,631%		 n/a
-57%		 n/a
-88%
Earnings per Share Growth - Adjusted -4% 75% 10,633% -99% 442%
PE Ratio - Diluted 10.5
13.7		 n/a
11.2		 6.1
18.8		 660.3
1,832.6		 n/a
701.7
PEG - Diluted n/a
n/a		 n/a
0.2		 0.0
0.0		 n/a
n/a		 n/a
n/a
Dividend Cover 2.64
2.02		 1.72
1.66		 1.11
1.09		 0.01
0.01		 1.04
0.02
Return on Equity (ROE) 14.98%
11.56%		 (1.16%)
16.30%		 28.18%
9.17%		 0.34%
0.12%		 (1.18%)
0.38%
Operating Cash Flow per Share 353.55p 138.90p 154.30p 174.58p 125.93p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 13.20p (14.64p) (52.22p) 1.39p (35.08p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 60.00p 96.70p 85.70p 81.00p 80.00p
Dividend per Share Growth (37.95%) 12.84% 5.80% 1.25% (17.95%)
Dividend Yield 3.6% 5.4% 4.9% 5.6% 6.1%
Shareholders Funds 9,170.80 8,551.70 8,077.80 5,208.70 3,750.40
Net Borrowings £ (Millions) 8,097.80 8,168.10 8,015.40 7,810.40 10,007.80
Net Asset Value per Share (inc. Intangibles) 627.06p 612.81p 658.77p 419.58p 256.56p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Shareholders' Funds inc Intangibles 9,170.80 8,551.70 8,077.80 5,208.70 3,750.40
Net Borrowings £ (Millions) 8,097.80 8,168.10 8,015.40 7,810.40 10,007.80
Net Gearing 88.30% 95.51% 99.23% 149.95% 266.85%
Cash & Near Cash 1,035.90 891.80 1,049.30 1,600.20 164.60
Cash 11.30% 10.43% 12.99% 30.72% 4.39%
Gross Borrowings 9,133.70 9,059.90 9,064.70 9,410.60 10,172.40
Gross Gearing 99.60% 105.94% 112.22% 180.67% 271.24%
Borrowings Under 5 years 9,133.70 9,059.90 9,064.70 9,410.60 10,172.40
Under 5 years 99.60% 105.94% 112.22% 180.67% 271.24%
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-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Shareholders' Funds exc Intangibles 6,846.20 6,591.40 6,950.00 4,367.40 2,649.00
Net Borrowings £ (Millions) 8,097.80 8,168.10 8,015.40 7,810.40 10,007.80
Net Gearing 118.28% 123.92% 115.33% 178.83% 377.80%
Cash & Near Cash 1,035.90 891.80 1,049.30 1,600.20 164.60
Cash 15.13% 13.53% 15.10% 36.64% 6.21%
Gross Borrowings 9,133.70 9,059.90 9,064.70 9,410.60 10,172.40
Gross Gearing 133.41% 137.45% 130.43% 215.47% 384.01%
Borrowings Under 5 years 9,133.70 9,059.90 9,064.70 9,410.60 10,172.40
Under 5 years 133.41% 137.45% 130.43% 215.47% 384.01%
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-24 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20
Quick Ratio 1.03 0.97 1.43 1.22 0.63
Current Ratio 1.10 1.04 1.49 1.29 0.67

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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