Johnson Matthey (JMAT)

Sector:

Industrial Chemicals

Index:

FTSE 250

1,835.00p
   
  • Change Today:
    -3.00p
  • 52 Week High: 1,909.50
  • 52 Week Low: 1,446.50
  • Currency: UK Pounds
  • Shares Issued: 193.59m
  • Volume: 9,413
  • Market Cap: £3,552.37m
  • RiskGrade: 168

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 3.9% 4.1% 2.3% 3.1% 2.7%
           
Continuing Operations          
PE Ratio - Adjusted 11.1 8.8 17.8 13.6 13.7
PE Ratio - Diluted 13.8
12.4		 30.9
8.8		 29.9
16.2		 13.6
13.6		 14.6
14.1
PEG - Adjusted n/a 0.3 0.6 n/a 0.5
PEG - Diluted 0.1
n/a		 n/a
0.6		 n/a
0.4		 n/a
n/a		 7.3
2.0
Return on Capital Employed 11.27%
12.05%		 8.21%
17.62%		 0.10%
0.15%		 11.94%
11.94%		 4.24%
4.41%
Operating Margin 2.72%
2.91%		 1.59%
3.41%		 2.00%
3.06%		 2.68%
2.68%		 4.94%
5.03%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 11.1 8.8 1,767.3 13.6 55.0
PE Ratio - Diluted 13.2
12.0		 n/a
18.9		 2,805.4
1,561.0		 13.6
13.6		 58.6
56.5
PEG - Adjusted n/a 0.0 n/a 0.1 n/a
PEG - Diluted n/a
0.2		 n/a
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing 40.09% 35.23% 29.61% 39.94% 34.16%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Price/Book Value 1.9 2.0 3.3 2.0 3.6
Price/Tangible Book Value 1.9 2.0 3.3 2.0 3.6
Price/ Cash Flow 12.5 5.9 7.6 5.8 18.1
Price/Revenue 0.24 0.22 37.27 0.24 2.25
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 1,031.62p 943.79p 919.51p 914.58p 883.26p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Continuing Operations          
Revenue 14,933.00 16,025.00 155.80 14,577.00 2,684.41
EBITDA 593.00
622.00		 445.00
737.00		 4.84
6.39		 391.00
391.00		 175.38
177.63
Depreciation (187.00)
(187.00)		 (190.00)
(190.00)		 (1.72)
(1.62)		 n/a
n/a		 (42.72)
(42.72)
Net Interest (61.00)
(61.00)		 (60.00)
(60.00)		 (0.86)
(0.86)		 (86.00)
(86.00)		 (10.74)
(10.74)
Profit Before Tax 344.00
373.00		 195.00
487.00		 2.26
3.92		 305.00
305.00		 121.92
127.16
           
Revenue per Share 8,159.56p 8,365.14p 80.85p 7,574.91p 1,397.19p
Pre-Tax Profit per Share 187.97p
203.81p		 101.79p
254.22p		 1.17p
2.03p		 158.49p
158.49p		 63.46p
66.19p
Market Capitalisation £ (Millions) 3,839.85 3,679.26 5,994.08 3,576.95 6,250.71
Enterprise Value (EV) £ (Millions) 5,373.85 4,483.26 7,313.08 4,949.95 7,513.71
EBITDA/EV 11.03%
11.57%		 9.93%
16.44%		 0.07%
0.09%		 7.90%
7.90%		 2.33%
2.36%
Operating Margin 2.72%
2.91%		 1.59%
3.41%		 2.00%
3.06%		 2.68%
2.68%		 4.94%
5.03%
Capital Employed £ (Millions) 3,603.00 3,105.00 3,203.00 3,275.00 3,126.00
Return on Capital Employed 11.27%
12.05%		 8.21%
17.62%		 0.10%
0.15%		 11.94%
11.94%		 4.24%
4.41%
Invested Equity Capital £ (Millions) 2,586.00 2,487.00 2,740.00 2,907.00 2,711.00
           
Earnings per Share - Basic 144.20p
160.10p		 60.90p
212.98p		 100.90p
185.77p		 132.30p
132.51p		 215.20p
223.29p
Earnings per Share - Diluted 143.60p
159.36p		 60.80p
212.33p		 100.80p
185.52p		 132.10p
132.29p		 214.60p
222.64p
Earnings per Share - Adjusted 178.60p 213.20p 168.90p 132.30p 228.80p
Earnings per Share Growth - Basic 137%
-25%		 -40%
15%		 -24%
40%		 -38%
-41%		 2%
7%
Earnings per Share Growth - Diluted 136%
-25%		 -40%
14%		 -24%
40%		 -38%
-41%		 2%
7%
Earnings per Share Growth - Adjusted -16% 26% 28% -42% 27%
PE Ratio - Diluted 13.8
12.4		 30.9
8.8		 29.9
16.2		 13.6
13.6		 14.6
14.1
PEG - Diluted 0.1
n/a		 n/a
0.6		 n/a
0.4		 n/a
n/a		 7.3
2.0
Tax Rate 23.19% 40.51% 13.39% 16.39% 15.37%
Dividend Cover 2.32
2.08		 2.77
2.77		 2.41
2.65		 2.38
2.38		 2.68
2.61
Interest Cover 4.13
4.39		 2.93
5.82		 2.42
3.46		 (1.80)
(1.80)		 5.56
5.76
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 150.90p
166.66p		 (52.60p)
99.70p		 1.07p
1.93p		 132.30p
132.51p		 53.76p
55.78p
Earnings per Share - Diluted 150.20p
165.88p		 (52.60p)
99.40p		 1.07p
1.93p		 132.10p
132.29p		 53.61p
55.62p
Earnings per Share - Adjusted 178.60p 213.20p 1.71p 132.30p 57.16p
Earnings per Share Growth - Basic n/a
67%		 n/a
5,058%		 -99%
-98%		 146%
138%		 -74%
-73%
Earnings per Share Growth - Diluted n/a
67%		 n/a
5,050%		 -99%
-98%		 146%
138%		 -75%
-73%
Earnings per Share Growth - Adjusted -16% 12,405% -99% 132% -68%
PE Ratio - Diluted 13.2
12.0		 n/a
18.9		 2,805.4
1,561.0		 13.6
13.6		 58.6
56.5
PEG - Diluted n/a
0.2		 n/a
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a
Dividend Cover 2.32
2.16		 2.77
1.29		 0.02
0.03		 2.38
2.38		 0.67
0.65
Return on Equity (ROE) 10.67%
11.79%		 (4.06%)
7.68%		 0.08%
0.14%		 8.77%
8.77%		 3.81%
3.95%
Operating Cash Flow per Share 159.01p 315.81p 399.04p 310.75p 173.84p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 156.82p (107.01p) 1.45p (53.52p) 9.62p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 77.00p 77.00p 70.00p 55.62p 85.50p
Dividend per Share Growth n/a 10.00% 25.84% (34.94%) 25.74%
Dividend Yield 3.9% 4.1% 2.3% 3.1% 2.7%
Shareholders Funds 2,539.00 2,441.00 2,685.00 2,824.00 2,611.00
Net Borrowings £ (Millions) 1,018.00 860.00 795.00 1,128.00 892.00
Net Asset Value per Share (inc. Intangibles) 1,031.62p 943.79p 919.51p 914.58p 883.26p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds inc Intangibles 2,539.00 2,441.00 2,685.00 2,824.00 2,611.00
Net Borrowings £ (Millions) 1,018.00 860.00 795.00 1,128.00 892.00
Net Gearing 40.09% 35.23% 29.61% 39.94% 34.16%
Cash & Near Cash 650.00 391.00 581.00 304.00 437.00
Cash 25.60% 16.02% 21.64% 10.76% 16.74%
Gross Borrowings 1,668.00 1,251.00 1,376.00 1,432.00 1,329.00
Gross Gearing 65.70% 51.25% 51.25% 50.71% 50.90%
Borrowings Under 5 years 1,668.00 1,251.00 1,376.00 1,432.00 1,329.00
Under 5 years 65.70% 51.25% 51.25% 50.71% 50.90%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds exc Intangibles 1,888.00 1,808.00 1,772.00 1,760.00 1,697.00
Net Borrowings £ (Millions) 1,018.00 860.00 795.00 1,128.00 892.00
Net Gearing 53.92% 47.57% 44.86% 64.09% 52.56%
Cash & Near Cash 650.00 391.00 581.00 304.00 437.00
Cash 34.43% 21.63% 32.79% 17.27% 25.75%
Gross Borrowings 1,668.00 1,251.00 1,376.00 1,432.00 1,329.00
Gross Gearing 88.35% 69.19% 77.65% 81.36% 78.31%
Borrowings Under 5 years 1,668.00 1,251.00 1,376.00 1,432.00 1,329.00
Under 5 years 88.35% 69.19% 77.65% 81.36% 78.31%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio 0.92 0.84 0.85 0.74 1.00
Current Ratio 1.51 1.33 1.35 1.32 1.64

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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