Balfour Beatty (BBY)

Sector:

Construction and Building Materials

Index:

FTSE 250

361.20p
   
  • Change Today:
    -0.20p
  • 52 Week High: 393.40
  • 52 Week Low: 295.40
  • Currency: UK Pounds
  • Shares Issued: 531.20m
  • Volume: 914,957
  • Market Cap: £1,918.69m
  • RiskGrade: 123

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 3.5% 3.1% 3.4% 0.6% 0.8%
           
Continuing Operations          
PE Ratio - Adjusted 8.9 7.1 8.8 61.4 13.8
PE Ratio - Diluted 9.5
9.0		 7.3
7.2		 12.4
9.2		 61.4
98.1		 13.9
13.9
PEG - Adjusted n/a 0.1 0.0 n/a n/a
PEG - Diluted n/a
n/a		 0.1
0.1		 0.0
0.0		 n/a
n/a		 n/a
n/a
Return on Capital Employed 14.91%
15.69%		 21.12%
21.35%		 0.08%
0.16%		 5.58%
3.90%		 12.26%
10.64%
Operating Margin 3,302.89%
3,440.51%		 4.98%
5.02%		 0.56%
1.88%		 0.34%
0.08%		 1.89%
1.89%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 8.9 7.1 873.9 61.4 13.8
PE Ratio - Diluted 9.5
9.0		 7.3
7.2		 1,230.1
907.1		 61.4
98.1		 13.9
13.9
PEG - Adjusted n/a 0.0 n/a n/a n/a
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing (36.31%) (32.00%) (30.53%) (10.40%) 1.46%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Price/Book Value 24.6 9.6 6.5 8.4 7.2
Price/Tangible Book Value 28.4 9.8 6.7 8.7 7.5
Price/ Cash Flow 6.5 12.3 4.9 6.8 8.5
Price/Revenue 231.21 0.27 23.73 0.25 0.24
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 13.44p 35.13p 40.03p 32.31p 36.35p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 7.99 7,629.00 72.53 7,320.00 7,313.00
EBITDA 378.00
389.00		 491.00
494.00		 1.50
2.46		 133.00
114.00		 138.00
138.00
Depreciation (114.00)
(114.00)		 (111.00)
(111.00)		 (1.10)
(1.10)		 (108.00)
(108.00)		 n/a
n/a
Net Interest 33.00
33.00		 12.00
12.00		 (0.10)
(0.10)		 (15.00)
(15.00)		 n/a
n/a
Profit Before Tax 244.00
255.00		 287.00
290.00		 0.88
1.84		 48.00
29.00		 138.00
138.00
           
Revenue per Share 1.43p 1,246.57p 11.04p 1,065.50p 1,067.59p
Pre-Tax Profit per Share 43.73p
45.70p		 46.90p
47.39p		 0.13p
0.28p		 6.99p
4.22p		 20.15p
20.15p
Market Capitalisation £ (Millions) 1,801.73 1,985.09 1,807.80 1,864.38 1,790.59
Enterprise Value (EV) £ (Millions) 2,479.73 2,422.09 2,208.80 2,223.38 2,209.59
EBITDA/EV 15.24%
15.69%		 20.27%
20.40%		 0.07%
0.11%		 5.98%
5.13%		 6.25%
6.25%
Operating Margin 3,302.89%
3,440.51%		 4.98%
5.02%		 0.56%
1.88%		 0.34%
0.08%		 1.89%
1.89%
Capital Employed £ (Millions) 1,415.00 1,302.00 1,198.00 1,129.00 1,297.00
Return on Capital Employed 14.91%
15.69%		 21.12%
21.35%		 0.08%
0.16%		 5.58%
3.90%		 12.26%
10.64%
Invested Equity Capital £ (Millions) 1,559.00 1,727.00 1,689.00 1,590.00 1,618.00
           
Earnings per Share - Basic 35.30p
37.28p		 46.90p
47.55p		 21.30p
28.92p		 4.40p
2.77p		 19.00p
18.98p
Earnings per Share - Diluted 34.80p
36.75p		 46.30p
46.94p		 21.10p
28.61p		 4.40p
2.75p		 18.80p
18.87p
Earnings per Share - Adjusted 37.30p 47.50p 29.70p 4.40p 19.00p
Earnings per Share Growth - Basic -25%
-22%		 120%
64%		 384%
946%		 -77%
-85%		 -4%
-24%
Earnings per Share Growth - Diluted -25%
-22%		 119%
64%		 380%
939%		 -77%
-85%		 -4%
-24%
Earnings per Share Growth - Adjusted -22% 60% 575% -77% -4%
PE Ratio - Diluted 9.5
9.0		 7.3
7.2		 12.4
9.2		 61.4
98.1		 13.9
13.9
PEG - Diluted n/a
n/a		 0.1
0.1		 0.0
0.0		 n/a
n/a		 n/a
n/a
Tax Rate 16.84% n/a (173.33%) 180.00% 3.62%
Dividend Cover 3.24
3.24		 4.52
4.53		 3.30
3.21		 2.93
1.84		 9.05
9.04
Interest Cover 5.98
6.20		 8.55
8.63		 2.78
4.71		 1.91
1.55		 n/a
n/a
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 35.30p
37.28p		 46.90p
47.55p		 0.21p
0.29p		 4.40p
2.77p		 19.00p
18.98p
Earnings per Share - Diluted 34.80p
36.75p		 46.30p
46.94p		 0.21p
0.29p		 4.40p
2.75p		 18.80p
18.87p
Earnings per Share - Adjusted 37.30p 47.50p 0.30p 4.40p 19.00p
Earnings per Share Growth - Basic -25%
-22%		 21,714%
16,189%		 -95%
-89%		 -77%
-85%		 -4%
-24%
Earnings per Share Growth - Diluted -25%
-22%		 21,639%
16,150%		 -95%
-90%		 -77%
-85%		 -4%
-24%
Earnings per Share Growth - Adjusted -22% 15,744% -93% -77% -4%
PE Ratio - Diluted 9.5
9.0		 7.3
7.2		 1,230.1
907.1		 61.4
98.1		 13.9
13.9
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 3.24
3.24		 4.52
4.53		 0.03
0.03		 2.93
1.84		 9.05
9.04
Return on Equity (ROE) 12.64%
13.34%		 16.68%
16.85%		 0.08%
0.11%		 1.89%
1.19%		 8.03%
8.03%
Operating Cash Flow per Share 51.08p 27.45p 53.73p 39.88p 30.80p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 28.67p 20.43p 0.31p 4.08p 19.27p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 11.50p 10.50p 9.00p 1.50p 2.10p
Dividend per Share Growth 9.52% 16.67% 500.00% (28.57%) (56.25%)
Dividend Yield 3.5% 3.1% 3.4% 0.6% 0.8%
Shareholders Funds 1,198.00 1,378.00 1,369.00 1,336.00 1,368.00
Net Borrowings £ (Millions) (435.00) (441.00) (418.00) (139.00) 20.00
Net Asset Value per Share (inc. Intangibles) 11.65p 34.31p 38.97p 31.00p 35.04p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds inc Intangibles 1,198.00 1,378.00 1,369.00 1,336.00 1,368.00
Net Borrowings £ (Millions) (435.00) (441.00) (418.00) (139.00) 20.00
Net Gearing (36.31%) (32.00%) (30.53%) (10.40%) 1.46%
Cash & Near Cash 1,414.00 1,179.00 1,033.00 792.00 778.00
Cash 118.03% 85.56% 75.46% 59.28% 56.87%
Gross Borrowings 979.00 738.00 615.00 653.00 798.00
Gross Gearing 81.72% 53.56% 44.92% 48.88% 58.33%
Borrowings Under 5 years 979.00 738.00 615.00 653.00 798.00
Under 5 years 81.72% 53.56% 44.92% 48.88% 58.33%
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-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles 65.00 210.00 256.00 213.00 240.00
Net Borrowings £ (Millions) (435.00) (441.00) (418.00) (139.00) 20.00
Net Gearing n/a n/a n/a (65.26%) 8.33%
Cash & Near Cash 1,414.00 1,179.00 1,033.00 792.00 778.00
Cash 2,175.38% 561.43% 403.52% 371.83% 324.17%
Gross Borrowings 979.00 738.00 615.00 653.00 798.00
Gross Gearing 1,506.15% 351.43% 240.23% 306.57% 332.50%
Borrowings Under 5 years 979.00 738.00 615.00 653.00 798.00
Under 5 years 1,506.15% 351.43% 240.23% 306.57% 332.50%
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-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Quick Ratio 0.97 0.87 0.88 0.88 0.89
Current Ratio 1.01 0.91 0.93 0.93 0.93

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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