Spectris (SXS)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

3,296.00p
   
  • Change Today:
    -34.00p
  • 52 Week High: 3,840.00
  • 52 Week Low: 2,935.00
  • Currency: UK Pounds
  • Shares Issued: 100.62m
  • Volume: 570,647
  • Market Cap: £3,316.36m
  • RiskGrade: 107

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 2.1% 2.5% 2.0% 4.0% 0.8%
           
Continuing Operations          
PE Ratio - Adjusted 18.9 18.8 28.7 25.1 17.3
PE Ratio - Diluted 27.1
25.7		 28.3
18.9		 12.4
31.7		 n/a
n/a		 14.4
29.4
PEG - Adjusted 0.8 0.7 2.1 n/a 8.6
PEG - Diluted 0.8
n/a		 n/a
0.5		 n/a
n/a		 n/a
n/a		 0.5
n/a
Return on Capital Employed 27.50%
31.25%		 23.06%
32.38%		 0.67%
0.30%		 0.61%
2.33%		 34.82%
18.99%
Operating Margin 12.34%
14.09%		 12.72%
17.85%		 31.50%
14.10%		 0.32%
5.59%		 16.10%
8.78%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 18.9 18.8 2,844.5 25.1 17.3
PE Ratio - Diluted 27.1
29.3		 8.1
7.1		 1,192.1
3,142.0		 n/a
n/a		 14.4
29.4
PEG - Adjusted 0.8 0.0 n/a n/a 0.1
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.0
0.1

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing (5.76%) (11.34%) (8.08%) (5.39%) 2.04%

  £ (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 6.7 5.0 9.0 6.1 6.8
Price/Tangible Book Value 6.7 5.0 9.0 6.1 6.8
Price/ Cash Flow 20.1 26.9 26.1 14.5 14.0
Price/Revenue 2.70 2.43 354.29 2.45 2.06
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 563.03p 601.02p 405.19p 460.72p 428.50p
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 1,449.20 1,327.40 11.74 1,336.20 1,632.00
EBITDA 236.50
261.90		 227.90
296.10		 4.22
2.17		 21.90
92.30		 262.80
143.30
Depreciation (57.70)
(57.70)		 (59.10)
(59.10)		 (0.52)
(0.52)		 (17.60)
(17.60)		 n/a
n/a
Net Interest 6.90
6.90		 (17.30)
(17.30)		 0.07
0.07		 (8.40)
(8.40)		 (3.50)
(3.50)
Profit Before Tax 185.60
210.00		 151.50
219.70		 3.77
1.73		 (4.10)
7.90		 259.30
139.80
           
Revenue per Share 1,398.84p 1,233.64p 10.32p 1,150.90p 1,409.33p
Pre-Tax Profit per Share 179.15p
202.70p		 140.80p
204.18p		 3.32p
1.52p		 (3.53p)
6.80p		 223.92p
120.72p
Market Capitalisation £ (Millions) 3,998.18 3,275.18 4,054.27 3,276.36 3,522.07
Enterprise Value (EV) £ (Millions) 3,950.38 3,328.78 4,103.77 3,248.16 3,737.67
EBITDA/EV 5.99%
6.63%		 6.85%
8.90%		 0.10%
0.05%		 0.67%
2.84%		 7.03%
3.83%
Operating Margin 12.34%
14.09%		 12.72%
17.85%		 31.50%
14.10%		 0.32%
5.59%		 16.10%
8.78%
Capital Employed £ (Millions) 649.90 731.90 554.30 700.30 754.70
Return on Capital Employed 27.50%
31.25%		 23.06%
32.38%		 0.67%
0.30%		 0.61%
2.33%		 34.82%
18.99%
Invested Equity Capital £ (Millions) 1,319.80 1,456.90 1,289.00 1,228.60 1,339.90
           
Earnings per Share - Basic 140.30p
147.97p		 106.70p
159.85p		 295.20p
115.74p		 (14.60p)
(24.46p)		 202.20p
98.96p
Earnings per Share - Diluted 139.40p
146.98p		 106.00p
158.82p		 294.10p
115.34p		 (14.60p)
(24.46p)		 201.60p
98.71p
Earnings per Share - Adjusted 199.70p 159.90p 127.40p 112.10p 168.00p
Earnings per Share Growth - Basic 32%
-7%		 -64%
38%		 n/a
n/a		 n/a
n/a		 28%
-23%
Earnings per Share Growth - Diluted 32%
-8%		 -64%
38%		 n/a
n/a		 n/a
n/a		 28%
-23%
Earnings per Share Growth - Adjusted 25% 26% 14% -33% 2%
PE Ratio - Diluted 27.1
25.7		 28.3
18.9		 12.4
31.7		 n/a
n/a		 14.4
29.4
PEG - Diluted 0.8
n/a		 n/a
0.5		 n/a
n/a		 n/a
n/a		 0.5
n/a
Tax Rate 21.65% 24.22% 10.22% (314.63%) 9.72%
Dividend Cover 2.52
1.87		 2.12
2.12		 1.77
1.61		 1.00
(0.22)		 7.67
4.52
Interest Cover 46.27
52.22		 8.89
12.44		 70.22
32.74		 0.60
1.77		 23.75
13.26
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 140.30p
129.73p		 373.10p
426.30p		 3.08p
1.17p		 (14.60p)
(41.17p)		 202.20p
98.96p
Earnings per Share - Diluted 139.40p
128.86p		 370.70p
423.55p		 3.07p
1.16p		 (14.60p)
(41.17p)		 201.60p
98.71p
Earnings per Share - Adjusted 199.70p 159.90p 1.29p 112.10p 168.00p
Earnings per Share Growth - Basic -62%
-70%		 12,015%
36,389%		 n/a
n/a		 n/a
n/a		 414%
209%
Earnings per Share Growth - Diluted -62%
-70%		 11,980%
36,280%		 n/a
n/a		 n/a
n/a		 414%
210%
Earnings per Share Growth - Adjusted 25% 12,334% -99% -33% 308%
PE Ratio - Diluted 27.1
29.3		 8.1
7.1		 1,192.1
3,142.0		 n/a
n/a		 14.4
29.4
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.0
0.1
Dividend Cover 2.52
1.64		 2.12
5.65		 0.02
0.02		 1.00
(0.37)		 7.67
4.52
Return on Equity (ROE) 11.02%
10.18%		 27.56%
31.48%		 0.27%
0.10%		 (1.38%)
(3.89%)		 17.47%
8.55%
Operating Cash Flow per Share 188.42p 111.52p 140.19p 194.66p 207.94p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (82.72p) 46.84p (0.33p) (2.50p) 129.71p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 79.20p 75.40p 71.80p 111.60p 21.90p
Dividend per Share Growth 5.04% 5.01% (35.66%) 409.59% (64.10%)
Dividend Yield 2.1% 2.5% 2.0% 4.0% 0.8%
Shareholders Funds 1,315.90 1,436.90 1,261.30 1,219.70 1,321.50
Net Borrowings £ (Millions) (75.80) (162.90) (101.90) (65.70) 27.00
Net Asset Value per Share (inc. Intangibles) 563.03p 601.02p 405.19p 460.72p 428.50p

  £ (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 1,315.90 1,436.90 1,261.30 1,219.70 1,321.50
Net Borrowings £ (Millions) (75.80) (162.90) (101.90) (65.70) 27.00
Net Gearing (5.76%) (11.34%) (8.08%) (5.39%) 2.04%
Cash & Near Cash 138.50 228.10 167.80 222.20 213.10
Cash 10.53% 15.87% 13.30% 18.22% 16.13%
Gross Borrowings 62.70 65.20 65.90 156.50 240.10
Gross Gearing 4.76% 4.54% 5.22% 12.83% 18.17%
Borrowings Under 5 years 62.70 65.20 65.90 156.50 240.10
Under 5 years 4.76% 4.54% 5.22% 12.83% 18.17%
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 583.30 646.70 460.70 534.90 496.20
Net Borrowings £ (Millions) (75.80) (162.90) (101.90) (65.70) 27.00
Net Gearing (13.00%) (25.19%) (22.12%) (12.28%) 5.44%
Cash & Near Cash 138.50 228.10 167.80 222.20 213.10
Cash 23.74% 35.27% 36.42% 41.54% 42.95%
Gross Borrowings 62.70 65.20 65.90 156.50 240.10
Gross Gearing 10.75% 10.08% 14.30% 29.26% 48.39%
Borrowings Under 5 years 62.70 65.20 65.90 156.50 240.10
Under 5 years 10.75% 10.08% 14.30% 29.26% 48.39%
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 1.34 1.44 1.27 1.79 1.30
Current Ratio 1.89 2.07 1.75 2.22 1.75

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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