Balfour Beatty (BBY)

Sector:

Construction and Building Materials

Index:

FTSE 250

319.20p
   
  • Change Today:
    -7.60p
  • 52 Week High: 393.40
  • 52 Week Low: 294.60
  • Currency: UK Pounds
  • Shares Issued: 555.04m
  • Volume: 913,106
  • Market Cap: £1,771.69m
  • RiskGrade: 123

Key Financials

  £ (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

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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