Pennon Group (PNN)

Sector:

Utilities

Index:

FTSE 250

625.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 1,000.00
  • 52 Week Low: 599.50
  • Currency: UK Pounds
  • Shares Issued: 261.31m
  • Volume: 62,167
  • Market Cap: £1,634.51m
  • RiskGrade: 123

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 4.9% 3.6% 2.2% 3.9% 5.4%
           
Continuing Operations          
PE Ratio - Adjusted 119.7 21.4 21.0 31.8 13.3
PE Ratio - Diluted n/a
22,968.7		 219.4
21.9		 39.6
35.8		 40.5
32.4		 20.1
14.9
PEG - Adjusted n/a 4.3 0.6 n/a 0.3
PEG - Diluted n/a
n/a		 n/a
0.3		 n/a
n/a		 n/a
n/a		 1.1
0.3
Return on Capital Employed 2.37%
2.77%		 4.57%
5.21%		 0.03%
0.03%		 4.21%
4.73%		 1.57%
1.30%
Operating Margin 13.76%
13.76%		 27.94%
31.88%		 31.20%
31.90%		 37.32%
41.92%		 19.29%
18.85%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 119.7 21.4 2,082.6 18.1 53.1
PE Ratio - Diluted n/a
n/a		 219.4
21.9		 238.8
2,604.0		 40.5
20.6		 60.3
51.4
PEG - Adjusted n/a 0.0 n/a 0.1 n/a
PEG - Diluted n/a
n/a		 13.7
0.0		 n/a
n/a		 0.3
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 266.89% 213.53% (2.15%) 215.42% 222.85%

  £ (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 2.4 3.1 1.4 2.8 2.7
Price/Tangible Book Value 2.4 3.1 1.4 3.4 3.6
Price/ Cash Flow 15.0 13.3 20.1 12.8 11.2
Price/Revenue 2.87 4.23 671.70 7.38 8.71
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 361.36p 351.43p 698.48p 397.10p 286.63p
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 797.20 792.30 6.30 636.70 369.30
EBITDA 264.40
264.40		 368.10
399.30		 3.17
3.21		 237.60
266.90		 71.23
69.60
Depreciation (154.70)
(154.70)		 (146.70)
(146.70)		 (1.21)
(1.21)		 n/a
n/a		 n/a
n/a
Net Interest (118.20)
(136.60)		 (93.70)
(93.70)		 (0.59)
(0.59)		 (44.50)
(44.50)		 (6.20)
(6.20)
Profit Before Tax (8.50)
(8.50)		 127.70
158.90		 1.33
1.38		 193.10
222.40		 65.03
63.41
           
Revenue per Share 304.39p 253.86p 1.50p 151.52p 88.01p
Pre-Tax Profit per Share (3.25p)
(3.25p)		 40.92p
50.91p		 0.32p
0.33p		 45.95p
52.93p		 15.50p
15.11p
Market Capitalisation £ (Millions) 2,283.90 2,847.10 4,241.74 5,862.25 3,222.77
Enterprise Value (EV) £ (Millions) 5,430.60 6,082.00 7,095.34 6,897.15 6,860.07
EBITDA/EV 4.87%
4.87%		 6.05%
6.57%		 0.04%
0.05%		 3.44%
3.87%		 1.04%
1.01%
Operating Margin 13.76%
13.76%		 27.94%
31.88%		 31.20%
31.90%		 37.32%
41.92%		 19.29%
18.85%
Capital Employed £ (Millions) 4,620.80 4,849.70 6,055.90 5,645.00 5,360.00
Return on Capital Employed 2.37%
2.77%		 4.57%
5.21%		 0.03%
0.03%		 4.21%
4.73%		 1.57%
1.30%
Invested Equity Capital £ (Millions) 1,631.80 1,786.90 3,244.50 1,676.90 1,890.10
           
Earnings per Share - Basic n/a
0.038p		 4.90p
49.25p		 25.50p
28.14p		 27.70p
34.72p		 38.20p
51.57p
Earnings per Share - Diluted n/a
0.038p		 4.90p
48.98p		 25.40p
28.03p		 27.60p
34.56p		 38.10p
51.41p
Earnings per Share - Adjusted 7.30p 50.20p 47.80p 35.20p 57.80p
Earnings per Share Growth - Basic n/a
-100%		 -81%
75%		 -8%
-19%		 -28%
-33%		 18%
47%
Earnings per Share Growth - Diluted n/a
-100%		 -81%
75%		 -8%
-19%		 -28%
-33%		 18%
47%
Earnings per Share Growth - Adjusted -86% 5% 36% -39% 45%
PE Ratio - Diluted n/a
22,968.7		 219.4
21.9		 39.6
35.8		 40.5
32.4		 20.1
14.9
PEG - Diluted n/a
n/a		 n/a
0.3		 n/a
n/a		 n/a
n/a		 1.1
0.3
Tax Rate 104.71% 87.78% 18.18% 36.56% 14.48%
Dividend Cover 0.17
n/a		 1.30
1.28		 2.20
1.29		 0.80
0.79		 1.41
1.26
Interest Cover 0.94
0.94		 2.33
2.65		 3.11
3.18		 4.97
5.58		 6.81
6.67
           
Continuing & Discontinued Operations          
Earnings per Share - Basic n/a
(6.99p)		 4.90p
49.25p		 4.22p
0.39p		 27.70p
54.66p		 12.77p
14.95p
Earnings per Share - Diluted n/a
(6.96p)		 4.90p
48.98p		 4.21p
0.39p		 27.60p
54.42p		 12.72p
14.90p
Earnings per Share - Adjusted 7.30p 50.20p 0.48p 61.70p 14.44p
Earnings per Share Growth - Basic -100%
n/a		 16%
12,613%		 -85%
-99%		 117%
266%		 -60%
-58%
Earnings per Share Growth - Diluted -100%
n/a		 16%
12,592%		 -85%
-99%		 117%
265%		 -60%
-57%
Earnings per Share Growth - Adjusted -86% 10,304% -99% 327% -64%
PE Ratio - Diluted n/a
n/a		 219.4
21.9		 238.8
2,604.0		 40.5
20.6		 60.3
51.4
PEG - Diluted n/a
n/a		 13.7
0.0		 n/a
n/a		 0.3
0.1		 n/a
n/a
Dividend Cover 0.17
(0.16)		 1.30
1.28		 0.02
0.02		 1.41
1.25		 0.35
0.36
Return on Equity (ROE) 0.01%
(1.12%)		 0.86%
8.60%		 0.55%
0.05%		 11.95%
13.70%		 2.95%
3.32%
Operating Cash Flow per Share 58.27p 80.84p 49.99p 87.10p 68.33p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 79.23p (742.49p) 5.26p 25.30p (2.22p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 42.73p 38.53p 21.74p 43.77p 41.06p
Dividend per Share Growth 10.90% 77.23% (50.33%) 6.60% 29.12%
Dividend Yield 4.9% 3.6% 2.2% 3.9% 5.4%
Shareholders Funds 1,124.80 1,274.50 2,984.90 1,415.30 1,381.90
Net Borrowings £ (Millions) 3,002.00 2,721.50 (64.30) 3,048.90 3,079.50
Net Asset Value per Share (inc. Intangibles) 361.21p 351.39p 698.50p 326.46p 215.63p

  £ (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 1,124.80 1,274.50 2,984.90 1,415.30 1,381.90
Net Borrowings £ (Millions) 3,002.00 2,721.50 (64.30) 3,048.90 3,079.50
Net Gearing 266.89% 213.53% (2.15%) 215.42% 222.85%
Cash & Near Cash 165.40 519.00 2,919.30 665.90 569.60
Cash 14.70% 40.72% 97.80% 47.05% 41.22%
Gross Borrowings 3,167.40 3,240.50 2,855.00 3,714.80 3,649.10
Gross Gearing 281.60% 254.26% 95.65% 262.47% 264.06%
Borrowings Under 5 years 3,167.40 3,240.50 2,855.00 3,714.80 3,649.10
Under 5 years 281.60% 254.26% 95.65% 262.47% 264.06%
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 946.00 1,096.70 2,941.40 1,371.80 904.80
Net Borrowings £ (Millions) 3,002.00 2,721.50 (64.30) 3,048.90 3,079.50
Net Gearing 317.34% 248.15% (2.19%) 222.26% 340.35%
Cash & Near Cash 165.40 519.00 2,919.30 665.90 569.60
Cash 17.48% 47.32% 99.25% 48.54% 62.95%
Gross Borrowings 3,167.40 3,240.50 2,855.00 3,714.80 3,649.10
Gross Gearing 334.82% 295.48% 97.06% 270.80% 403.30%
Borrowings Under 5 years 3,167.40 3,240.50 2,855.00 3,714.80 3,649.10
Under 5 years 334.82% 295.48% 97.06% 270.80% 403.30%
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 1.22 1.92 14.02 19.15 2.09
Current Ratio 1.24 1.94 14.04 19.18 2.14

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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