IMI (IMI)

Sector:

Engineering

Index:

FTSE 100

1,764.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 1,828.00
  • 52 Week Low: 1,445.00
  • Currency: UK Pounds
  • Shares Issued: 261.47m
  • Volume: 188,363
  • Market Cap: £4,612.27m
  • RiskGrade: 142
  • Beta: 0.01

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 1.7% 2.0% 1.4% 1.9% 3.5%
           
Continuing Operations          
PE Ratio - Adjusted 14.4 12.2 18.9 14.6 16.1
PE Ratio - Diluted 18.5
14.5		 14.8
12.3		 23.7
18.9		 18.6
15.7		 20.9
16.1
PEG - Adjusted 1.3 0.8 1.3 1.6 n/a
PEG - Diluted 3.7
1.3		 0.8
0.9		 1.4
0.8		 1.7
7.8		 n/a
1.0
Return on Capital Employed 37.05%
47.53%		 32.73%
39.93%		 0.31%
0.39%		 29.35%
34.42%		 31.07%
40.39%
Operating Margin 14.51%
18.70%		 14.55%
17.76%		 13.42%
13.16%		 12.43%
14.58%		 10.88%
14.18%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 14.4 12.2 1,869.4 14.6 16.1
PE Ratio - Diluted 18.5
14.5		 14.8
12.3		 2,349.5
1,876.7		 18.6
15.7		 20.5
15.9
PEG - Adjusted 1.3 0.0 n/a 1.6 n/a
PEG - Diluted 3.7
1.3		 0.0
0.0		 n/a
n/a		 2.1
n/a		 n/a
0.9

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing 61.99% 89.66% 79.94% 39.55% 61.67%

  £ (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 60.2 (30.7) 421.2 15.8 35.0
Price/Tangible Book Value 60.2 (30.7) 421.2 15.8 35.0
Price/ Cash Flow 12.0 11.7 17.2 9.6 10.1
Price/Revenue 1.99 1.62 245.99 1.73 1.70
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 27.96p (42.01p) 4.12p 73.58p 33.64p
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 2,196.00 2,049.00 18.84 1,825.00 1,873.00
EBITDA 443.00
535.00		 420.40
486.00		 3.53
3.48		 306.20
345.40		 203.80
265.60
Depreciation (124.40)
(124.40)		 (122.20)
(122.20)		 (1.00)
(1.00)		 (79.40)
(79.40)		 n/a
n/a
Net Interest (16.20)
(23.20)		 (12.80)
(17.70)		 (0.06)
(0.06)		 (12.50)
(10.80)		 (14.50)
(14.90)
Profit Before Tax 302.40
387.40		 285.40
346.10		 2.47
3.10		 214.30
255.20		 189.30
250.70
           
Revenue per Share 846.90p 793.26p 7.06p 672.44p 691.65p
Pre-Tax Profit per Share 116.62p
149.40p		 110.49p
133.99p		 0.93p
1.16p		 78.96p
94.03p		 69.90p
92.58p
Market Capitalisation £ (Millions) 4,632.68 3,542.00 4,772.26 3,337.72 3,376.66
Enterprise Value (EV) £ (Millions) 5,361.18 4,469.40 5,465.46 3,844.62 3,893.96
EBITDA/EV 8.26%
9.98%		 9.41%
10.87%		 0.06%
0.06%		 7.96%
8.98%		 5.23%
6.82%
Operating Margin 14.51%
18.70%		 14.55%
17.76%		 13.42%
13.16%		 12.43%
14.58%		 10.88%
14.18%
Capital Employed £ (Millions) 863.90 911.00 816.90 772.80 657.60
Return on Capital Employed 37.05%
47.53%		 32.73%
39.93%		 0.31%
0.39%		 29.35%
34.42%		 31.07%
40.39%
Invested Equity Capital £ (Millions) 1,076.50 980.10 867.60 848.50 750.40
           
Earnings per Share - Basic 91.50p
116.81p		 87.60p
105.46p		 73.50p
92.02p		 62.70p
74.39p		 56.60p
73.15p
Earnings per Share - Diluted 91.20p
116.37p		 87.20p
104.97p		 73.20p
91.64p		 62.60p
74.26p		 56.50p
73.05p
Earnings per Share - Adjusted 116.80p 105.50p 92.00p 79.70p 73.20p
Earnings per Share Growth - Basic 4%
11%		 19%
15%		 17%
24%		 11%
2%		 -9%
16%
Earnings per Share Growth - Diluted 5%
11%		 19%
14%		 17%
23%		 11%
2%		 -10%
16%
Earnings per Share Growth - Adjusted 11% 15% 15% 9% n/a
PE Ratio - Diluted 18.5
14.5		 14.8
12.3		 23.7
18.9		 18.6
15.7		 20.9
16.1
PEG - Diluted 3.7
1.3		 0.8
0.9		 1.4
0.8		 1.7
7.8		 n/a
1.0
Tax Rate 21.53% 20.71% 19.75% 20.58% 19.02%
Dividend Cover 4.13
4.13		 4.11
4.10		 3.88
3.88		 3.54
3.31		 1.78
1.78
Interest Cover 10.66
13.38		 12.99
15.54		 17.87
22.17		 13.99
18.24		 6.84
13.92
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 91.50p
116.81p		 87.60p
105.46p		 0.74p
0.93p		 62.70p
74.39p		 57.60p
74.19p
Earnings per Share - Diluted 91.20p
116.37p		 87.20p
104.97p		 0.74p
0.93p		 62.60p
74.26p		 57.60p
74.08p
Earnings per Share - Adjusted 116.80p 105.50p 0.93p 79.70p 73.20p
Earnings per Share Growth - Basic 4%
11%		 11,707%
11,254%		 -99%
-99%		 9%
0%		 -8%
18%
Earnings per Share Growth - Diluted 5%
11%		 11,702%
11,248%		 -99%
-99%		 9%
0%		 -8%
18%
Earnings per Share Growth - Adjusted 11% 11,261% -99% 9% n/a
PE Ratio - Diluted 18.5
14.5		 14.8
12.3		 2,349.5
1,876.7		 18.6
15.7		 20.5
15.9
PEG - Diluted 3.7
1.3		 0.0
0.0		 n/a
n/a		 2.1
n/a		 n/a
0.9
Dividend Cover 4.13
4.13		 4.11
4.10		 0.04
0.04		 3.54
3.31		 1.78
1.81
Return on Equity (ROE) 22.04%
28.14%		 23.09%
27.79%		 0.23%
0.29%		 20.06%
23.80%		 20.80%
26.77%
Operating Cash Flow per Share 140.07p 109.83p 100.86p 121.30p 116.25p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 6.83p 4.26p (0.33p) 36.26p (7.20p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 28.30p 25.70p 23.70p 22.50p 41.10p
Dividend per Share Growth 10.12% 8.44% 5.33% (45.26%) 1.23%
Dividend Yield 1.7% 2.0% 1.4% 1.9% 3.5%
Shareholders Funds 1,030.20 905.60 779.10 799.50 709.90
Net Borrowings £ (Millions) 638.60 812.00 622.80 316.20 437.80
Net Asset Value per Share (inc. Intangibles) 27.96p (42.01p) 4.12p 73.58p 33.64p

  £ (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 1,030.20 905.60 779.10 799.50 709.90
Net Borrowings £ (Millions) 638.60 812.00 622.80 316.20 437.80
Net Gearing 61.99% 89.66% 79.94% 39.55% 61.67%
Cash & Near Cash 106.50 133.00 94.60 207.90 88.20
Cash 10.34% 14.69% 12.14% 26.00% 12.42%
Gross Borrowings 745.10 945.00 717.40 524.10 526.00
Gross Gearing 72.33% 104.35% 92.08% 65.55% 74.09%
Borrowings Under 5 years 745.10 945.00 717.40 524.10 526.00
Under 5 years 72.33% 104.35% 92.08% 65.55% 74.09%
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 72.50 (108.50) 11.00 199.70 91.10
Net Borrowings £ (Millions) 638.60 812.00 622.80 316.20 437.80
Net Gearing 880.83% n/a 5,661.82% 158.34% 480.57%
Cash & Near Cash 106.50 133.00 94.60 207.90 88.20
Cash 146.90% (122.58%) 860.00% 104.11% 96.82%
Gross Borrowings 745.10 945.00 717.40 524.10 526.00
Gross Gearing 1,027.73% 870.97% 6,521.82% 262.44% 577.39%
Borrowings Under 5 years 745.10 945.00 717.40 524.10 526.00
Under 5 years 1,027.73% (870.97%) 6,521.82% 262.44% 577.39%
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 0.90 0.78 0.74 1.03 0.87
Current Ratio 1.50 1.29 1.20 1.53 1.37

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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