Britvic (BVIC)

Sector:

Beverages

Index:

FTSE 250

1,004.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 1,020.00p
  • 52 Week Low: 785.50p
  • Currency: UK Pounds
  • Shares Issued: 249.48m
  • Volume: 466,106
  • Market Cap: £2,504.77m
  • RiskGrade: 126

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 3.5% 4.0% 2.7% 2.6% 3.1%
           
Continuing Operations          
PE Ratio - Adjusted 14.3 12.5 20.2 19.0 16.4
PE Ratio - Diluted 18.2
14.4		 13.7
12.6		 24.8
21.9		 23.2
19.1		 32.3
17.8
PEG - Adjusted 2.4 0.4 10.1 n/a 2.7
PEG - Diluted n/a
2.4		 0.3
0.3		 12.4
n/a		 1.4
n/a		 n/a
2.5
Return on Capital Employed 23.04%
27.92%		 21.75%
23.29%		 0.20%
0.22%		 16.57%
19.14%		 17.47%
27.38%
Operating Margin 10.38%
12.58%		 11.89%
12.73%		 10.85%
11.93%		 9.23%
9.23%		 8.41%
13.18%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 14.3 12.5 1,998.1 19.0 16.4
PE Ratio - Diluted 18.2
14.4		 13.7
12.6		 2,452.0
2,169.5		 23.2
19.1		 32.3
17.8
PEG - Adjusted 2.4 0.0 n/a n/a 2.7
PEG - Diluted n/a
2.4		 0.0
0.0		 n/a
n/a		 1.4
n/a		 n/a
2.5

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Net Gearing 163.11% 123.59% 141.98% 169.19% 152.74%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Price/Book Value (52.6) 26.7 567.6 (78.0) (208.8)
Price/Tangible Book Value (52.6) 26.7 567.6 (78.0) (208.8)
Price/ Cash Flow 9.4 8.0 10.6 12.9 14.0
Price/Revenue 1.28 1.18 168.08 1.55 1.68
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) (16.58p) 26.87p 1.57p (10.53p) (4.69p)
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Continuing Operations          
Revenue 1,748.60 1,618.30 14.18 1,412.40 1,545.00
EBITDA 251.90
290.30		 259.80
273.40		 2.22
2.38		 130.30
130.30		 200.20
273.90
Depreciation (70.40)
(70.40)		 (67.40)
(67.40)		 (0.69)
(0.69)		 n/a
n/a		 (70.20)
(70.20)
Net Interest (24.70)
(24.70)		 (17.30)
(17.30)		 (0.18)
(0.18)		 (19.10)
(19.10)		 (19.70)
(19.70)
Profit Before Tax 156.80
195.20		 175.10
188.70		 1.36
1.51		 111.20
131.40		 110.30
184.00
           
Revenue per Share 680.65p 607.24p 5.32p 531.18p 584.12p
Pre-Tax Profit per Share 61.03p
75.98p		 65.70p
70.81p		 0.51p
0.57p		 41.82p
49.42p		 41.70p
69.56p
Market Capitalisation £ (Millions) 2,217.22 1,889.18 2,388.46 2,191.38 2,599.35
Enterprise Value (EV) £ (Millions) 2,890.22 2,507.88 3,038.66 2,913.78 3,247.35
EBITDA/EV 8.72%
10.04%		 10.36%
10.90%		 0.07%
0.08%		 4.47%
4.47%		 6.17%
8.43%
Operating Margin 10.38%
12.58%		 11.89%
12.73%		 10.85%
11.93%		 9.23%
9.23%		 8.41%
13.18%
Capital Employed £ (Millions) 787.60 884.60 757.40 786.30 744.10
Return on Capital Employed 23.04%
27.92%		 21.75%
23.29%		 0.20%
0.22%		 16.57%
19.14%		 17.47%
27.38%
Invested Equity Capital £ (Millions) 503.80 612.00 509.70 445.30 487.60
           
Earnings per Share - Basic 48.30p
61.00p		 52.60p
57.26p		 36.20p
40.89p		 35.60p
43.17p		 30.60p
55.65p
Earnings per Share - Diluted 47.90p
60.55p		 52.50p
57.15p		 36.10p
40.80p		 35.40p
42.96p		 30.30p
55.15p
Earnings per Share - Adjusted 61.00p 57.30p 44.30p 43.20p 59.80p
Earnings per Share Growth - Basic -8%
6%		 45%
40%		 2%
-5%		 16%
-22%		 -31%
7%
Earnings per Share Growth - Diluted -9%
6%		 45%
40%		 2%
-5%		 17%
-22%		 -31%
7%
Earnings per Share Growth - Adjusted 6% 29% 2% -28% 6%
PE Ratio - Diluted 18.2
14.4		 13.7
12.6		 24.8
21.9		 23.2
19.1		 32.3
17.8
PEG - Diluted n/a
2.4		 0.3
0.3		 12.4
n/a		 1.4
n/a		 n/a
2.5
Tax Rate 20.92% 19.93% 28.31% 14.93% 26.65%
Dividend Cover 1.98
1.98		 1.98
1.97		 1.83
1.69		 2.00
2.00		 1.99
1.86
Interest Cover 7.08
8.57		 10.62
11.37		 8.20
9.01		 6.17
7.11		 6.33
9.89
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 48.30p
61.00p		 52.60p
57.26p		 0.36p
0.41p		 35.60p
43.17p		 30.60p
55.65p
Earnings per Share - Diluted 47.90p
60.55p		 52.50p
57.15p		 0.36p
0.41p		 35.40p
42.96p		 30.30p
55.15p
Earnings per Share - Adjusted 61.00p 57.30p 0.45p 43.20p 59.80p
Earnings per Share Growth - Basic -8%
6%		 14,295%
13,772%		 -99%
-99%		 16%
-22%		 -31%
7%
Earnings per Share Growth - Diluted -9%
6%		 14,308%
13,778%		 -99%
-99%		 17%
-22%		 -31%
7%
Earnings per Share Growth - Adjusted 6% 12,714% -99% -28% 6%
PE Ratio - Diluted 18.2
14.4		 13.7
12.6		 2,452.0
2,169.5		 23.2
19.1		 32.3
17.8
PEG - Diluted n/a
2.4		 0.0
0.0		 n/a
n/a		 1.4
n/a		 n/a
2.5
Dividend Cover 1.98
1.98		 1.98
1.97		 0.02
0.02		 2.00
2.00		 1.99
1.86
Return on Equity (ROE) 24.61%
31.10%		 22.91%
24.93%		 0.19%
0.22%		 21.24%
25.78%		 16.59%
30.19%
Operating Cash Flow per Share 92.80p 89.91p 84.44p 63.48p 69.98p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (17.71p) 1.43p (0.13p) 23.20p (22.99p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 30.80p 29.00p 24.20p 21.60p 30.00p
Dividend per Share Growth 6.21% 19.83% 12.04% (28.00%) 6.38%
Dividend Yield 3.5% 4.0% 2.7% 2.6% 3.1%
Shareholders Funds 391.70 488.00 410.70 375.50 415.40
Net Borrowings £ (Millions) 638.90 603.10 583.10 635.30 634.50
Net Asset Value per Share (inc. Intangibles) (16.58p) 26.87p 1.57p (10.53p) (4.69p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Shareholders' Funds inc Intangibles 391.70 488.00 410.70 375.50 415.40
Net Borrowings £ (Millions) 638.90 603.10 583.10 635.30 634.50
Net Gearing 163.11% 123.59% 141.98% 169.19% 152.74%
Cash & Near Cash 79.20 85.90 71.10 109.20 49.00
Cash 20.22% 17.60% 17.31% 29.08% 11.80%
Gross Borrowings 718.10 689.00 654.20 744.50 683.50
Gross Gearing 183.33% 141.19% 159.29% 198.27% 164.54%
Borrowings Under 5 years 718.10 689.00 654.20 744.50 683.50
Under 5 years 183.33% 141.19% 159.29% 198.27% 164.54%
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 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Shareholders' Funds exc Intangibles (42.60) 71.60 4.20 (28.00) (12.40)
Net Borrowings £ (Millions) 638.90 603.10 583.10 635.30 634.50
Net Gearing n/a 842.32% 13,883.29% n/a n/a
Cash & Near Cash 79.20 85.90 71.10 109.20 49.00
Cash (185.92%) 119.97% 1,692.85% (390.00%) (395.16%)
Gross Borrowings 718.10 689.00 654.20 744.50 683.50
Gross Gearing 1,685.68% 962.29% 15,576.14% 2,658.93% 5,512.10%
Borrowings Under 5 years 718.10 689.00 654.20 744.50 683.50
Under 5 years (1,685.68%) 962.29% 15,576.14% (2,658.93%) (5,512.10%)
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 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 29-Sep-19
Quick Ratio 0.71 0.84 0.81 0.82 0.64
Current Ratio 0.98 1.07 1.05 1.03 0.85

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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