Bodycote (BOY)

Sector:

Engineering

Index:

FTSE 250

757.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 759.00
  • 52 Week Low: 555.00
  • Currency: UK Pounds
  • Shares Issued: 189.16m
  • Volume: 292,313
  • Market Cap: £1,431.91m
  • RiskGrade: 147

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 3.8% 3.7% 2.3% 4.4% 0.6%
           
Continuing Operations          
PE Ratio - Adjusted 13.0 14.7 27.7 3,727.5 18.3
PE Ratio - Diluted 13.3
13.2		 15.0
14.6		 27.7
27.3		 3,727.5
3,548.1		 19.3
19.0
PEG - Adjusted 0.7 0.6 0.0 n/a n/a
PEG - Diluted 0.7
0.8		 0.7
0.6		 0.0
0.0		 n/a
n/a		 n/a
n/a
Return on Capital Employed 19.50%
19.53%		 16.12%
16.23%		 0.15%
0.15%		 0.93%
0.93%		 20.35%
20.62%
Operating Margin 14.85%
14.88%		 13.72%
13.81%		 13.61%
13.77%		 0.84%
0.84%		 17.87%
18.10%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 13.0 14.7 2,748.2 3,727.5 18.3
PE Ratio - Diluted 13.3
13.2		 15.0
14.6		 2,748.2
2,705.9		 3,727.5
3,548.1		 19.3
19.0
PEG - Adjusted 0.7 0.0 47.4 n/a n/a
PEG - Diluted 0.7
0.8		 0.0
0.0		 47.4
52.0		 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 6.54% 12.73% 17.07% 14.42% 8.30%

  £ (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 2.5 2.5 4.5 4.0 3.7
Price/Tangible Book Value 2.5 2.5 4.5 4.0 3.7
Price/ Cash Flow 5.9 7.6 11.4 10.2 10.2
Price/Revenue 1.41 1.46 265.46 2.37 2.51
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 242.05p 229.22p 190.61p 188.00p 259.79p
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 802.50 743.60 6.22 598.00 719.70
EBITDA 201.30
201.50		 186.30
187.00		 1.70
1.71		 5.00
5.00		 128.60
130.30
Depreciation (82.10)
(82.10)		 (84.30)
(84.30)		 (0.85)
(0.85)		 n/a
n/a		 n/a
n/a
Net Interest (7.50)
(7.50)		 (6.70)
(6.70)		 (0.06)
(0.06)		 (6.50)
(6.50)		 (4.70)
(4.70)
Profit Before Tax 111.70
111.90		 95.30
96.00		 0.78
0.79		 (1.50)
(1.50)		 123.90
125.60
           
Revenue per Share 422.64p 389.77p 3.26p 314.12p 378.95p
Pre-Tax Profit per Share 58.83p
58.93p		 49.95p
50.32p		 0.41p
0.42p		 (0.79p)
(0.79p)		 65.24p
66.13p
Market Capitalisation £ (Millions) 1,138.21 1,088.43 1,657.05 1,427.31 1,822.66
Enterprise Value (EV) £ (Millions) 1,221.51 1,200.33 1,791.75 1,532.51 1,887.46
EBITDA/EV 16.48%
16.50%		 15.52%
15.58%		 0.09%
0.10%		 0.33%
0.33%		 6.81%
6.90%
Operating Margin 14.85%
14.88%		 13.72%
13.81%		 13.61%
13.77%		 0.84%
0.84%		 17.87%
18.10%
Capital Employed £ (Millions) 611.30 632.80 574.00 540.40 632.00
Return on Capital Employed 19.50%
19.53%		 16.12%
16.23%		 0.15%
0.15%		 0.93%
0.93%		 20.35%
20.62%
Invested Equity Capital £ (Millions) 845.60 839.80 739.10 734.20 763.10
           
Earnings per Share - Basic 45.10p
45.19p		 38.60p
39.00p		 31.20p
31.73p		 0.20p
0.21p		 49.40p
50.28p
Earnings per Share - Diluted 44.80p
44.95p		 38.00p
38.88p		 31.20p
31.69p		 0.20p
0.21p		 49.20p
50.08p
Earnings per Share - Adjusted 45.80p 38.60p 31.20p 0.20p 52.10p
Earnings per Share Growth - Basic 17%
16%		 24%
23%		 15,500%
15,003%		 -100%
-100%		 -9%
-9%
Earnings per Share Growth - Diluted 18%
16%		 22%
23%		 15,500%
14,982%		 -100%
-100%		 -9%
-9%
Earnings per Share Growth - Adjusted 19% 24% 15,500% -100% -7%
PE Ratio - Diluted 13.3
13.2		 15.0
14.6		 27.7
27.3		 3,727.5
3,548.1		 19.3
19.0
PEG - Diluted 0.7
0.8		 0.7
0.6		 0.0
0.0		 n/a
n/a		 n/a
n/a
Tax Rate 22.29% 22.04% 22.58% 153.33% 24.13%
Dividend Cover 2.02
1.99		 1.81
1.83		 1.56
1.59		 0.01
0.01		 8.68
8.38
Interest Cover 14.46
14.48		 14.42
14.52		 12.74
12.89		 0.78
0.78		 26.29
26.63
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 45.10p
45.19p		 38.60p
39.00p		 0.32p
0.32p		 0.20p
0.21p		 49.40p
50.28p
Earnings per Share - Diluted 44.80p
44.95p		 38.00p
38.88p		 0.32p
0.32p		 0.20p
0.21p		 49.20p
50.08p
Earnings per Share - Adjusted 45.80p 38.60p 0.32p 0.20p 52.10p
Earnings per Share Growth - Basic 17%
16%		 12,156%
12,075%		 58%
52%		 -100%
-100%		 -9%
-9%
Earnings per Share Growth - Diluted 18%
16%		 11,966%
12,055%		 58%
52%		 -100%
-100%		 -9%
-9%
Earnings per Share Growth - Adjusted 19% 12,156% 58% -100% -7%
PE Ratio - Diluted 13.3
13.2		 15.0
14.6		 2,748.2
2,705.9		 3,727.5
3,548.1		 19.3
19.0
PEG - Diluted 0.7
0.8		 0.0
0.0		 47.4
52.0		 n/a
n/a		 n/a
n/a
Dividend Cover 2.02
1.99		 1.81
1.83		 0.02
0.02		 0.01
0.01		 8.68
8.38
Return on Equity (ROE) 10.12%
10.15%		 8.78%
8.86%		 0.08%
0.08%		 0.05%
0.05%		 12.29%
12.51%
Operating Cash Flow per Share 100.91p 74.90p 75.69p 73.07p 93.36p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 5.37p (0.94p) 0.050p 4.41p (8.00p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 22.70p 21.30p 20.00p 32.70p 6.00p
Dividend per Share Growth 6.57% 6.50% (38.84%) 445.00% (68.42%)
Dividend Yield 3.8% 3.7% 2.3% 4.4% 0.6%
Shareholders Funds 790.80 780.90 684.70 680.50 705.00
Net Borrowings £ (Millions) 51.70 99.40 116.90 98.10 58.50
Net Asset Value per Share (inc. Intangibles) 241.26p 228.64p 190.24p 187.53p 259.37p

  £ (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 790.80 780.90 684.70 680.50 705.00
Net Borrowings £ (Millions) 51.70 99.40 116.90 98.10 58.50
Net Gearing 6.54% 12.73% 17.07% 14.42% 8.30%
Cash & Near Cash 45.20 37.20 39.30 30.70 22.00
Cash 5.72% 4.76% 5.74% 4.51% 3.12%
Gross Borrowings 96.90 136.60 156.20 128.80 80.50
Gross Gearing 12.25% 17.49% 22.81% 18.93% 11.42%
Borrowings Under 5 years 96.90 136.60 156.20 128.80 80.50
Under 5 years 12.25% 17.49% 22.81% 18.93% 11.42%
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-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles 458.10 436.20 362.70 357.00 492.60
Net Borrowings £ (Millions) 51.70 99.40 116.90 98.10 58.50
Net Gearing 11.29% 22.79% 32.23% 27.48% 11.88%
Cash & Near Cash 45.20 37.20 39.30 30.70 22.00
Cash 9.87% 8.53% 10.84% 8.60% 4.47%
Gross Borrowings 96.90 136.60 156.20 128.80 80.50
Gross Gearing 21.15% 31.32% 43.07% 36.08% 16.34%
Borrowings Under 5 years 96.90 136.60 156.20 128.80 80.50
Under 5 years 21.15% 31.32% 43.07% 36.08% 16.34%
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 0.92 0.83 0.68 0.58 1.02
Current Ratio 1.05 0.93 0.75 0.63 1.10

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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