Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

8,850.00p
   
  • Change Today:
    -300.00p
  • 52 Week High: 11,445.00
  • 52 Week Low: 8,058.00
  • Currency: UK Pounds
  • Shares Issued: 73.77m
  • Volume: 137,745
  • Market Cap: £6,528m
  • RiskGrade: 124

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Annualisation Factor 1.0 n/a 1.0 1.0 0.2
Dividend Yield 1.4% 0.0% 1.0% 1.2% 1.6%
           
Continuing Operations          
PE Ratio - Adjusted 28.1 4,691.8 44.0 33.5 25.0
PE Ratio - Diluted 34.9
29.1		 5,008.0
47.5		 48.1
51.3		 39.4
33.6		 20.7
27.9
PEG - Adjusted 0.0 n/a n/a 5.6 0.3
PEG - Diluted 0.0
3.6		 n/a
0.9		 12.0
n/a		 n/a
1.9		 0.2
0.4
Return on Capital Employed 26.90%
31.49%		 0.36%
0.39%		 33.45%
32.75%		 28.69%
33.10%		 11.95%
9.58%
Operating Margin 19.79%
23.17%		 23.87%
25.31%		 20.86%
20.43%		 19.74%
22.77%		 25.93%
20.78%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 28.1 464,809.1 44.0 33.5 99.9
PE Ratio - Diluted 34.9
29.1		 496,137.9
4,705.8		 48.1
51.3		 39.4
33.6		 82.7
111.5
PEG - Adjusted 0.0 n/a n/a 0.1 n/a
PEG - Diluted 0.0
0.0		 n/a
n/a		 12.0
n/a		 0.2
0.1		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Net Gearing 64.64% 18.89% 30.88% 40.48% 30.79%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Price/Book Value (231.1) 34.5 54.3 62.6 37.7
Price/Tangible Book Value (225.8) 34.6 54.7 63.2 38.1
Price/ Cash Flow 32.4 43.3 32.1 28.8 21.6
Price/Revenue 4.85 871.60 6.98 5.27 15.94
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) (45.92p) 465.54p 208.00p 142.06p 165.35p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Continuing Operations          
Revenue 1,610.60 13.57 1,193.40 1,242.40 288.13
EBITDA 389.20
419.80		 3.86
3.84		 324.40
319.20		 245.20
282.90		 89.24
74.40
Depreciation (70.40)
(46.70)		 (0.62)
(0.40)		 (75.40)
(75.40)		 n/a
n/a		 (14.52)
(14.52)
Net Interest (10.70)
(10.70)		 (0.06)
(0.06)		 (8.70)
(8.70)		 (8.40)
(8.40)		 (2.57)
(2.57)
Profit Before Tax 308.10
362.40		 3.17
3.37		 240.10
234.90		 236.80
274.50		 72.15
57.31
           
Revenue per Share 2,188.32p 18.41p 1,619.27p 1,685.75p 391.48p
Pre-Tax Profit per Share 418.61p
492.39p		 4.31p
4.57p		 325.78p
318.73p		 321.30p
372.46p		 98.03p
77.87p
Market Capitalisation £ (Millions) 7,830.27 11,839.45 8,331.87 6,555.21 4,596.80
Enterprise Value (EV) £ (Millions) 8,821.27 12,249.15 8,801.07 7,176.21 4,982.20
EBITDA/EV 4.41%
4.76%		 0.03%
0.03%		 3.69%
3.63%		 3.42%
3.94%		 1.79%
1.49%
Operating Margin 19.79%
23.17%		 23.87%
25.31%		 20.86%
20.43%		 19.74%
22.77%		 25.93%
20.78%
Capital Employed £ (Millions) 1,185.00 891.60 743.80 854.60 625.10
Return on Capital Employed 26.90%
31.49%		 0.36%
0.39%		 33.45%
32.75%		 28.69%
33.10%		 11.95%
9.58%
Invested Equity Capital £ (Millions) 1,303.30 1,092.30 932.70 910.50 846.30
           
Earnings per Share - Basic 305.10p
366.30p		 3.21p
338.81p		 235.50p
220.62p		 226.20p
265.67p		 303.10p
224.59p
Earnings per Share - Diluted 304.40p
365.31p		 3.21p
337.89p		 234.80p
220.03p		 225.50p
264.95p		 302.00p
223.98p
Earnings per Share - Adjusted 377.20p 3.42p 256.60p 265.70p 250.00p
Earnings per Share Growth - Basic 9,396%
8%		 -99%
54%		 4%
-17%		 -25%
18%		 128%
70%
Earnings per Share Growth - Diluted 9,398%
8%		 -99%
54%		 4%
-17%		 -25%
18%		 129%
70%
Earnings per Share Growth - Adjusted 10,926% -99% -3% 6% 78%
PE Ratio - Diluted 34.9
29.1		 5,008.0
47.5		 48.1
51.3		 39.4
33.6		 20.7
27.9
PEG - Diluted 0.0
3.6		 n/a
0.9		 12.0
n/a		 n/a
1.9		 0.2
0.4
Tax Rate 26.97% 25.31% 27.55% 29.48% 22.65%
Dividend Cover 2.48
2.41		 2.49
246.80		 2.17
1.87		 2.42
2.42		 2.50
2.25
Interest Cover 19.90
23.23		 33.09
35.07		 24.77
24.26		 24.92
28.73		 26.33
21.12
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 305.10p
366.30p		 0.032p
3.42p		 235.50p
220.62p		 226.20p
265.67p		 75.72p
56.11p
Earnings per Share - Diluted 304.40p
365.31p		 0.032p
3.41p		 234.80p
220.03p		 225.50p
264.95p		 75.45p
55.96p
Earnings per Share - Adjusted 377.20p 0.035p 256.60p 265.70p 62.46p
Earnings per Share Growth - Basic 940,655%
10,611%		 -100%
-98%		 4%
-17%		 199%
374%		 -43%
-58%
Earnings per Share Growth - Diluted 940,862%
10,611%		 -100%
-98%		 4%
-17%		 199%
374%		 -43%
-58%
Earnings per Share Growth - Adjusted 1,092,274% -100% -3% 325% -56%
PE Ratio - Diluted 34.9
29.1		 496,137.9
4,705.8		 48.1
51.3		 39.4
33.6		 82.7
111.5
PEG - Diluted 0.0
0.0		 n/a
n/a		 12.0
n/a		 0.2
0.1		 n/a
n/a
Dividend Cover 2.48
2.41		 0.03
2.49		 2.17
1.87		 2.42
2.42		 0.62
0.56
Return on Equity (ROE) 17.24%
20.69%		 0.22%
0.23%		 18.61%
17.43%		 18.30%
21.50%		 6.59%
4.88%
Operating Cash Flow per Share 327.58p 3.75p 351.70p 308.55p 288.86p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 22.83p 0.019p 75.44p (7.46p) 13.44p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 152.00p 1.37p 118.00p 110.00p 100.00p
Dividend per Share Growth 10,972.36% (98.84%) 7.27% 10.00% 55.04%
Dividend Yield 1.4% 0.0% 1.0% 1.2% 1.6%
Shareholders Funds 1,169.00 1,009.00 851.30 825.30 765.80
Net Borrowings £ (Millions) 755.60 190.60 262.90 334.10 235.80
Net Asset Value per Share (inc. Intangibles) (47.01p) 464.18p 206.65p 140.71p 163.86p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds inc Intangibles 1,169.00 1,009.00 851.30 825.30 765.80
Net Borrowings £ (Millions) 755.60 190.60 262.90 334.10 235.80
Net Gearing 64.64% 18.89% 30.88% 40.48% 30.79%
Cash & Near Cash 328.90 274.60 246.20 330.60 187.10
Cash 28.14% 27.22% 28.92% 40.06% 24.43%
Gross Borrowings 1,084.50 465.20 509.10 664.70 422.90
Gross Gearing 92.77% 46.11% 59.80% 80.54% 55.22%
Borrowings Under 5 years 1,084.50 465.20 509.10 664.70 422.90
Under 5 years 92.77% 46.11% 59.80% 80.54% 55.22%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds exc Intangibles (34.60) 342.10 152.30 103.70 120.60
Net Borrowings £ (Millions) 755.60 190.60 262.90 334.10 235.80
Net Gearing n/a 55.71% 172.62% 322.18% 195.52%
Cash & Near Cash 328.90 274.60 246.20 330.60 187.10
Cash (950.58%) 80.27% 161.65% 318.80% 155.14%
Gross Borrowings 1,084.50 465.20 509.10 664.70 422.90
Gross Gearing 3,134.40% 135.98% 334.27% 640.98% 350.66%
Borrowings Under 5 years 1,084.50 465.20 509.10 664.70 422.90
Under 5 years (3,134.40%) 135.98% 334.27% 640.98% 350.66%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Quick Ratio 1.20 1.58 2.25 1.49 1.85
Current Ratio 1.65 2.11 3.04 1.94 2.49

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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