£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Growth Metrics | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Annualisation Factor | 1.0 | n/a | 1.0 | 1.0 | 1.0 |
Dividend Yield | 3.1% | 3.4% | 0.6% | 0.8% | 1.9% |
Continuing Operations | |||||
PE Ratio - Adjusted | 7.1 | 8.8 | 61.4 | 13.8 | 12.7 |
PE Ratio - Diluted | 7.3 7.3 |
12.4 9.2 |
61.4 98.1 |
13.9 13.9 |
12.8 10.0 |
PEG - Adjusted | 0.1 | 0.0 | n/a | n/a | n/a |
PEG - Diluted | 0.1 0.1 |
0.0 0.0 |
n/a n/a |
n/a n/a |
n/a 0.4 |
Return on Capital Employed | 21.12% 20.97% |
0.08% 0.16% |
5.58% 3.90% |
12.26% 10.64% |
15.44% 20.69% |
Operating Margin | 2.23% 2.20% |
0.56% 1.88% |
0.34% 0.08% |
1.89% 1.89% |
1.90% 2.49% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | 7.1 | 873.9 | 61.4 | 13.8 | 12.7 |
PE Ratio - Diluted | 7.3 7.3 |
1,230.1 907.1 |
61.4 98.1 |
13.9 13.9 |
12.8 10.0 |
PEG - Adjusted | 0.0 | n/a | n/a | n/a | n/a |
PEG - Diluted | 0.0 0.0 |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 0.5 |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Net Gearing | (32.00%) | (30.53%) | (10.40%) | 1.46% | (2.27%) |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Value Metrics | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Price/Book Value | 9.6 | 6.5 | 8.4 | 7.2 | 21.3 |
Price/Tangible Book Value | 9.8 | 6.7 | 8.7 | 7.5 | 24.3 |
Price/ Cash Flow | 12.3 | 4.9 | 6.8 | 8.5 | (13.1) |
Price/Revenue | 0.27 | 23.73 | 0.25 | 0.24 | 0.26 |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | 35.13p | 40.03p | 32.31p | 36.35p | 11.73p |
Net Cash per Share | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Annualised Fundamentals | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Continuing Operations | |||||
Revenue | 7,629.00 | 72.53 | 7,320.00 | 7,313.00 | 6,634.00 |
EBITDA | 281.00 279.00 |
1.50 2.46 |
133.00 114.00 |
138.00 138.00 |
175.00 214.00 |
Depreciation | (111.00) (111.00) |
(1.10) (1.10) |
(108.00) (108.00) |
n/a n/a |
(49.00) (49.00) |
Net Interest | 12.00 12.00 |
(0.10) (0.10) |
(15.00) (15.00) |
n/a n/a |
(24.00) (24.00) |
Profit Before Tax | 287.00 285.00 |
0.88 1.84 |
48.00 29.00 |
138.00 138.00 |
123.00 173.00 |
Revenue per Share | 1,246.57p | 11.04p | 1,065.50p | 1,067.59p | 972.73p |
Pre-Tax Profit per Share | 46.90p 46.57p |
0.13p 0.28p |
6.99p 4.22p |
20.15p 20.15p |
18.04p 25.37p |
Market Capitalisation £ (Millions) | 1,985.09 | 1,807.80 | 1,864.38 | 1,790.59 | 1,720.17 |
Enterprise Value (EV) £ (Millions) | 2,422.09 | 2,208.80 | 2,223.38 | 2,209.59 | 1,989.17 |
EBITDA/EV | 11.60% 11.52% |
0.07% 0.11% |
5.98% 5.13% |
6.25% 6.25% |
8.80% 10.76% |
Operating Margin | 2.23% 2.20% |
0.56% 1.88% |
0.34% 0.08% |
1.89% 1.89% |
1.90% 2.49% |
Capital Employed £ (Millions) | 1,302.00 | 1,198.00 | 1,129.00 | 1,297.00 | 952.00 |
Return on Capital Employed | 21.12% 20.97% |
0.08% 0.16% |
5.58% 3.90% |
12.26% 10.64% |
15.44% 20.69% |
Invested Equity Capital £ (Millions) | 1,727.00 | 1,689.00 | 1,590.00 | 1,618.00 | 1,470.00 |
Earnings per Share - Basic | 46.90p 46.57p |
21.30p 28.92p |
4.40p 2.77p |
19.00p 18.98p |
19.70p 25.07p |
Earnings per Share - Diluted | 46.30p 45.97p |
21.10p 28.61p |
4.40p 2.75p |
18.80p 18.87p |
19.50p 24.89p |
Earnings per Share - Adjusted | 47.50p | 29.70p | 4.40p | 19.00p | 19.70p |
Earnings per Share Growth - Basic | 120% 61% |
384% 946% |
-77% -85% |
-4% -24% |
-17% 26% |
Earnings per Share Growth - Diluted | 119% 61% |
380% 939% |
-77% -85% |
-4% -24% |
-17% 27% |
Earnings per Share Growth - Adjusted | 60% | 575% | -77% | -4% | -6% |
PE Ratio - Diluted | 7.3 7.3 |
12.4 9.2 |
61.4 98.1 |
13.9 13.9 |
12.8 10.0 |
PEG - Diluted | 0.1 0.1 |
0.0 0.0 |
n/a n/a |
n/a n/a |
n/a 0.4 |
Tax Rate | n/a | (173.33%) | 180.00% | 3.62% | (11.76%) |
Dividend Cover | 4.52 4.44 |
3.30 3.21 |
2.93 1.84 |
9.05 9.04 |
4.10 5.22 |
Interest Cover | 8.55 8.50 |
2.78 4.71 |
1.91 1.55 |
n/a n/a |
3.08 3.93 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | 46.90p 46.57p |
0.21p 0.29p |
4.40p 2.77p |
19.00p 18.98p |
19.70p 25.07p |
Earnings per Share - Diluted | 46.30p 45.97p |
0.21p 0.29p |
4.40p 2.75p |
18.80p 18.87p |
19.50p 24.89p |
Earnings per Share - Adjusted | 47.50p | 0.30p | 4.40p | 19.00p | 19.70p |
Earnings per Share Growth - Basic | 21,714% 15,853% |
-95% -89% |
-77% -85% |
-4% -24% |
-20% 21% |
Earnings per Share Growth - Diluted | 21,639% 15,815% |
-95% -90% |
-77% -85% |
-4% -24% |
-20% 22% |
Earnings per Share Growth - Adjusted | 15,744% | -93% | -77% | -4% | -6% |
PE Ratio - Diluted | 7.3 7.3 |
1,230.1 907.1 |
61.4 98.1 |
13.9 13.9 |
12.8 10.0 |
PEG - Diluted | 0.0 0.0 |
n/a n/a |
n/a n/a |
n/a n/a |
n/a 0.5 |
Dividend Cover | 4.52 4.44 |
0.03 0.03 |
2.93 1.84 |
9.05 9.04 |
4.10 5.22 |
Return on Equity (ROE) | 16.68% 16.50% |
0.08% 0.11% |
1.89% 1.19% |
8.03% 8.03% |
9.18% 11.63% |
Operating Cash Flow per Share | 27.45p | 53.73p | 39.88p | 30.80p | (19.06p) |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | 20.43p | 0.31p | 4.08p | 19.27p | (48.24p) |
Capital Expenditure per Share | n/a | n/a | n/a | n/a | n/a |
Dividend per Share | 10.50p | 9.00p | 1.50p | 2.10p | 4.80p |
Dividend per Share Growth | 16.67% | 500.00% | (28.57%) | (56.25%) | 33.33% |
Dividend Yield | 3.1% | 3.4% | 0.6% | 0.8% | 1.9% |
Shareholders Funds | 1,378.00 | 1,369.00 | 1,336.00 | 1,368.00 | 1,231.00 |
Net Borrowings £ (Millions) | (441.00) | (418.00) | (139.00) | 20.00 | (28.00) |
Net Asset Value per Share (inc. Intangibles) | 34.31p | 38.97p | 31.00p | 35.04p | 10.26p |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - inc Intangibles | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Shareholders' Funds inc Intangibles | 1,378.00 | 1,369.00 | 1,336.00 | 1,368.00 | 1,231.00 |
Net Borrowings £ (Millions) | (441.00) | (418.00) | (139.00) | 20.00 | (28.00) |
Net Gearing | (32.00%) | (30.53%) | (10.40%) | 1.46% | (2.27%) |
Cash & Near Cash | 1,179.00 | 1,033.00 | 792.00 | 778.00 | 661.00 |
Cash | 85.56% | 75.46% | 59.28% | 56.87% | 53.70% |
Gross Borrowings | 738.00 | 615.00 | 653.00 | 798.00 | 633.00 |
Gross Gearing | 53.56% | 44.92% | 48.88% | 58.33% | 51.42% |
Borrowings Under 5 years | 738.00 | 615.00 | 653.00 | 798.00 | 633.00 |
Under 5 years | 53.56% | 44.92% | 48.88% | 58.33% | 51.42% |
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-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Shareholders' Funds exc Intangibles | 210.00 | 256.00 | 213.00 | 240.00 | 70.00 |
Net Borrowings £ (Millions) | (441.00) | (418.00) | (139.00) | 20.00 | (28.00) |
Net Gearing | n/a | n/a | (65.26%) | 8.33% | (40.00%) |
Cash & Near Cash | 1,179.00 | 1,033.00 | 792.00 | 778.00 | 661.00 |
Cash | 561.43% | 403.52% | 371.83% | 324.17% | 944.29% |
Gross Borrowings | 738.00 | 615.00 | 653.00 | 798.00 | 633.00 |
Gross Gearing | 351.43% | 240.23% | 306.57% | 332.50% | 904.29% |
Borrowings Under 5 years | 738.00 | 615.00 | 653.00 | 798.00 | 633.00 |
Under 5 years | 351.43% | 240.23% | 306.57% | 332.50% | 904.29% |
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-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Quick Ratio | 0.87 | 0.88 | 0.88 | 0.89 | 0.91 |
Current Ratio | 0.91 | 0.93 | 0.93 | 0.93 | 0.95 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
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