SEGRO (SGRO)

Sector:

Property Investment Trusts

Index:

FTSE 100

926.60p
   
  • Change Today:
    -13.40p
  • 52 Week High: 940.00p
  • 52 Week Low: 679.20p
  • Currency: UK Pounds
  • Shares Issued: 1,351.23m
  • Volume: 1,630,001
  • Market Cap: £12,520m
  • RiskGrade: 100

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 3.1% 3.4% 1.7% 2.3% 2.3%
           
Continuing Operations          
PE Ratio - Adjusted 27.1 24.6 49.4 7.6 11.3
PE Ratio - Diluted n/a
n/a		 n/a
2.2		 4.2
25.7		 7.7
35.8		 11.4
11.4
PEG - Adjusted 4.5 4.1 n/a 0.1 n/a
PEG - Diluted n/a
n/a		 n/a
0.0		 0.0
0.2		 0.1
n/a		 n/a
0.0
Return on Capital Employed n/a
n/a		 n/a
3.98%		 0.26%
0.05%		 12.33%
2.85%		 9.82%
9.82%
Operating Margin (13.89%)
(13.89%)		 (231.69%)
119.43%		 735.53%
62.27%		 292.82%
25.69%		 219.51%
219.51%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 27.1 24.6 4,890.4 7.6 11.3
PE Ratio - Diluted n/a
n/a		 n/a
24.7		 420.9
2,547.2		 7.7
35.8		 11.4
11.4
PEG - Adjusted 4.5 0.0 n/a 0.1 0.1
PEG - Diluted n/a
n/a		 n/a
0.0		 n/a
n/a		 0.1
n/a		 0.1
0.0

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing 45.60% 41.52% 24.72% 24.07% 23.59%

  £ (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 1.0 0.8 1.3 1.1 1.3
Price/Tangible Book Value 1.0 0.8 1.3 1.1 1.3
Price/ Cash Flow 25.1 43.3 52.6 54.8 46.1
Price/Revenue 14.44 13.77 3,121.74 25.22 22.43
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 891.31p 941.57p 1,121.07p 840.93p 709.80p
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 749.00 669.00 5.51 432.00 432.50
EBITDA (104.00)
(104.00)		 (1,550.00)
799.00		 40.59
3.48		 1,269.00
115.00		 949.40
949.40
Depreciation n/a
n/a		 n/a
n/a		 (0.05)
(0.05)		 (4.00)
(4.00)		 n/a
n/a
Net Interest (83.00)
(83.00)		 (273.00)
(273.00)		 (1.23)
(1.23)		 (37.00)
(37.00)		 (47.40)
(47.40)
Profit Before Tax (263.00)
(263.00)		 (1,967.00)
382.00		 43.96
6.85		 1,464.00
310.00		 902.00
902.00
           
Revenue per Share 61.39p 55.45p 0.46p 37.57p 40.00p
Pre-Tax Profit per Share (21.56p)
(21.56p)		 (163.02p)
31.66p		 3.67p
0.57p		 127.33p
26.96p		 83.42p
83.42p
Market Capitalisation £ (Millions) 10,814.08 9,213.60 17,266.73 11,295.39 9,839.59
Enterprise Value (EV) £ (Millions) 16,126.08 14,030.60 20,613.73 13,642.39 11,754.19
EBITDA/EV (0.64%)
(0.64%)		 (11.05%)
5.69%		 0.20%
0.02%		 9.30%
0.84%		 8.08%
8.08%
Operating Margin (13.89%)
(13.89%)		 (231.69%)
119.43%		 735.53%
62.27%		 292.82%
25.69%		 219.51%
219.51%
Capital Employed £ (Millions) 16,414.00 16,471.00 17,107.00 12,170.00 9,671.80
Return on Capital Employed n/a
n/a		 n/a
3.98%		 0.26%
0.05%		 12.33%
2.85%		 9.82%
9.82%
Invested Equity Capital £ (Millions) 11,096.00 11,599.00 13,710.00 9,746.00 7,730.80
           
Earnings per Share - Basic (20.70p)
(22.38p)		 (159.10p)
350.90p		 339.00p
56.02p		 124.10p
26.61p		 79.30p
79.34p
Earnings per Share - Diluted (20.70p)
(22.32p)		 (159.70p)
349.92p		 338.10p
55.87p		 123.60p
26.50p		 78.90p
78.92p
Earnings per Share - Adjusted 32.70p 31.00p 29.10p 124.10p 79.30p
Earnings per Share Growth - Basic n/a
n/a		 n/a
526%		 173%
110%		 56%
-66%		 -25%
273%
Earnings per Share Growth - Diluted n/a
n/a		 n/a
526%		 174%
111%		 57%
-66%		 -25%
273%
Earnings per Share Growth - Adjusted 6% 6% -77% 56% -25%
PE Ratio - Diluted n/a
n/a		 n/a
2.2		 4.2
25.7		 7.7
35.8		 11.4
11.4
PEG - Diluted n/a
n/a		 n/a
0.0		 0.0
0.2		 0.1
n/a		 n/a
0.0
Tax Rate 5.35% 2.03% 7.40% 2.85% 4.59%
Dividend Cover 1.18
(0.80)		 1.18
13.34		 1.20
2.31		 5.62
1.20		 3.83
3.83
Interest Cover (0.57)
(0.57)		 (4.79)
2.12		 28.74
5.32		 17.83
4.56		 9.00
9.00
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (20.70p)
(22.38p)		 (159.10p)
31.00p		 3.42p
0.57p		 124.10p
26.61p		 79.30p
79.34p
Earnings per Share - Diluted (20.70p)
(22.32p)		 (159.70p)
30.91p		 3.41p
0.56p		 123.60p
26.50p		 78.90p
78.92p
Earnings per Share - Adjusted 32.70p 31.00p 0.29p 124.10p 79.30p
Earnings per Share Growth - Basic n/a
n/a		 n/a
5,381%		 -97%
-98%		 56%
-66%		 201%
1,393%
Earnings per Share Growth - Diluted n/a
n/a		 n/a
5,381%		 -97%
-98%		 57%
-66%		 201%
1,394%
Earnings per Share Growth - Adjusted 6% 10,454% -100% 56% 201%
PE Ratio - Diluted n/a
n/a		 n/a
24.7		 420.9
2,547.2		 7.7
35.8		 11.4
11.4
PEG - Diluted n/a
n/a		 n/a
0.0		 n/a
n/a		 0.1
n/a		 0.1
0.0
Dividend Cover 1.18
(0.80)		 1.18
1.18		 0.01
0.02		 5.62
1.20		 3.83
3.83
Return on Equity (ROE) (2.28%)
(2.46%)		 (16.61%)
3.22%		 0.30%
0.05%		 14.64%
3.14%		 11.10%
11.10%
Operating Cash Flow per Share 35.33p 17.65p 27.30p 17.31p 19.45p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 17.54p 6.30p (0.024p) (3.83p) 6.15p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 27.80p 26.30p 24.30p 22.10p 20.70p
Dividend per Share Growth 5.70% 8.23% 9.95% 6.76% 10.11%
Dividend Yield 3.1% 3.4% 1.7% 2.3% 2.3%
Shareholders Funds 10,904.00 11,373.00 13,436.00 9,659.00 7,677.60
Net Borrowings £ (Millions) 4,972.00 4,722.00 3,321.00 2,325.00 1,811.00
Net Asset Value per Share (inc. Intangibles) 891.31p 941.57p 1,121.07p 839.88p 709.80p

  £ (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 10,904.00 11,373.00 13,436.00 9,659.00 7,677.60
Net Borrowings £ (Millions) 4,972.00 4,722.00 3,321.00 2,325.00 1,811.00
Net Gearing 45.60% 41.52% 24.72% 24.07% 23.59%
Cash & Near Cash 376.00 162.00 85.00 89.00 132.50
Cash 3.45% 1.42% 0.63% 0.92% 1.73%
Gross Borrowings 5,348.00 4,884.00 3,406.00 2,414.00 1,943.50
Gross Gearing 49.05% 42.94% 25.35% 24.99% 25.31%
Borrowings Under 5 years 5,348.00 4,884.00 3,406.00 2,414.00 1,943.50
Under 5 years 49.05% 42.94% 25.35% 24.99% 25.31%
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)
Gearing - exc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles 10,874.00 11,361.00 13,427.00 9,657.00 7,675.10
Net Borrowings £ (Millions) 4,972.00 4,722.00 3,321.00 2,325.00 1,811.00
Net Gearing 45.72% 41.56% 24.73% 24.08% 23.60%
Cash & Near Cash 376.00 162.00 85.00 89.00 132.50
Cash 3.46% 1.43% 0.63% 0.92% 1.73%
Gross Borrowings 5,348.00 4,884.00 3,406.00 2,414.00 1,943.50
Gross Gearing 49.18% 42.99% 25.37% 25.00% 25.32%
Borrowings Under 5 years 5,348.00 4,884.00 3,406.00 2,414.00 1,943.50
Under 5 years 49.18% 42.99% 25.37% 25.00% 25.32%
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 n/a n/a n/a n/a n/a
Current Ratio 0.88 0.73 0.68 1.12 1.01

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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