£ (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 | 1.0 |
Dividend Yield | 3.3% | 2.2% | 2.4% | 1.8% | 2.3% |
Continuing Operations | |||||
PE Ratio - Adjusted | 22.2 | 31.5 | 31.2 | 38.9 | 28.8 |
PE Ratio - Diluted | n/a 21.2 |
15.2 30.8 |
n/a n/a |
15.8 9.4 |
14.3 15.9 |
PEG - Adjusted | n/a | 3.5 | n/a | 9.7 | 5.8 |
PEG - Diluted | n/a 21.2 |
n/a n/a |
n/a n/a |
0.6 0.1 |
n/a 0.2 |
Return on Capital Employed | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Operating Margin | (93.57%) (103.86%) |
122.05% 63.70% |
(19.73%) (21.63%) |
121.84% 204.78% |
106.58% 96.89% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | 22.2 | 3,118.1 | 31.2 | 38.9 | 28.8 |
PE Ratio - Diluted | n/a 21.2 |
1,507.4 3,070.0 |
n/a n/a |
15.8 9.4 |
14.3 15.9 |
PEG - Adjusted | 0.0 | n/a | n/a | 9.7 | 0.1 |
PEG - Diluted | n/a 0.0 |
n/a n/a |
n/a n/a |
0.6 0.1 |
0.1 0.0 |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 |
Net Gearing | 29.63% | 27.34% | 24.61% | 22.20% | 21.33% |
£ (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 | 0.7 | 0.9 | 0.8 | 1.0 | 0.7 |
Price/Tangible Book Value | 0.7 | 0.9 | 0.8 | 1.0 | 0.8 |
Price/ Cash Flow | 23.9 | 29.7 | 29.9 | 46.2 | 27.6 |
Price/Revenue | 10.69 | 1,574.40 | 12.90 | 19.46 | 13.95 |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | 3,630.09p | 3,955.61p | 3,855.80p | 4,005.34p | 3,822.96p |
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 | 248.80 | 2.44 | 268.60 | 230.30 | 228.00 |
EBITDA | (227.80) (253.40) |
3.02 1.60 |
(48.80) (53.90) |
280.60 471.60 |
243.70 221.60 |
Depreciation | (5.00) (5.00) |
(0.05) (0.05) |
(4.20) (4.20) |
n/a n/a |
(0.70) (0.70) |
Net Interest | (39.40) (39.40) |
(0.28) (0.28) |
(30.00) (29.90) |
n/a n/a |
(23.50) (23.50) |
Profit Before Tax | (279.50) 126.30 |
2.55 1.27 |
(83.00) (88.00) |
280.60 471.60 |
221.60 199.50 |
Revenue per Share | 221.61p | 2.17p | 240.01p | 206.04p | 204.45p |
Pre-Tax Profit per Share | (248.95p) 112.50p |
2.27p 1.13p |
(74.17p) (78.63p) |
251.04p 421.93p |
198.71p 178.89p |
Market Capitalisation £ (Millions) | 2,658.65 | 3,831.92 | 3,466.33 | 4,482.11 | 3,182.23 |
Enterprise Value (EV) £ (Millions) | 3,942.75 | 5,151.92 | 4,566.13 | 5,518.21 | 4,060.43 |
EBITDA/EV | (5.78%) (6.43%) |
0.06% 0.03% |
(1.07%) (1.18%) |
5.08% 8.55% |
6.00% 5.46% |
Operating Margin | (93.57%) (103.86%) |
122.05% 63.70% |
(19.73%) (21.63%) |
121.84% 204.78% |
106.58% 96.89% |
Capital Employed £ (Millions) | 5,360.40 | 5,762.10 | 5,415.80 | 5,515.70 | 5,180.00 |
Return on Capital Employed | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Invested Equity Capital £ (Millions) | 4,076.30 | 4,442.10 | 4,264.10 | 4,423.90 | 4,204.00 |
Earnings per Share - Basic | (249.84p) 111.87p |
224.99p 110.96p |
(69.34p) (79.26p) |
253.82p 424.43p |
199.33p 179.79p |
Earnings per Share - Diluted | (249.84p) 111.73p |
224.44p 110.83p |
(69.34p) (79.01p) |
253.11p 424.43p |
198.91p 179.40p |
Earnings per Share - Adjusted | 106.60p | 108.50p | 99.20p | 103.10p | 99.08p |
Earnings per Share Growth - Basic | n/a 1% |
n/a n/a |
n/a n/a |
27% 136% |
-29% 91% |
Earnings per Share Growth - Diluted | n/a 1% |
n/a n/a |
n/a n/a |
27% 137% |
-29% 91% |
Earnings per Share Growth - Adjusted | -2% | 9% | -4% | 4% | 5% |
PE Ratio - Diluted | n/a 21.2 |
15.2 30.8 |
n/a n/a |
15.8 9.4 |
14.3 15.9 |
PEG - Diluted | n/a 21.2 |
n/a n/a |
n/a n/a |
0.6 0.1 |
n/a 0.2 |
Tax Rate | (0.37%) | (0.49%) | 1.93% | 0.89% | 1.23% |
Dividend Cover | 1.36 1.43 |
1.42 1.45 |
1.33 (1.06) |
1.42 5.86 |
1.50 2.73 |
Interest Cover | (6.04) 4.18 |
9.99 5.48 |
(1.75) (1.92) |
n/a n/a |
10.43 9.49 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | (249.84p) 111.61p |
2.27p 1.11p |
(69.34p) (79.26p) |
253.82p 424.43p |
199.33p 179.79p |
Earnings per Share - Diluted | (249.84p) 111.47p |
2.27p 1.11p |
(69.34p) (79.01p) |
253.11p 424.43p |
198.91p 179.40p |
Earnings per Share - Adjusted | 106.60p | 1.09p | 99.20p | 103.10p | 99.08p |
Earnings per Share Growth - Basic | n/a 9,921% |
n/a n/a |
n/a n/a |
27% 136% |
112% 473% |
Earnings per Share Growth - Diluted | n/a 9,920% |
n/a n/a |
n/a n/a |
27% 137% |
112% 473% |
Earnings per Share Growth - Adjusted | 9,633% | -99% | -4% | 4% | 216% |
PE Ratio - Diluted | n/a 21.2 |
1,507.4 3,070.0 |
n/a n/a |
15.8 9.4 |
14.3 15.9 |
PEG - Diluted | n/a 0.0 |
n/a n/a |
n/a n/a |
0.6 0.1 |
0.1 0.0 |
Dividend Cover | 1.36 1.42 |
0.01 0.01 |
1.33 (1.06) |
1.42 5.86 |
1.50 2.73 |
Return on Equity (ROE) | (6.88%) 3.07% |
0.06% 0.03% |
(1.82%) (2.08%) |
6.41% 10.72% |
5.29% 4.77% |
Operating Cash Flow per Share | 99.22p | 114.79p | 103.56p | 86.87p | 103.30p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | (25.74p) | 0.15p | (3.40p) | 32.39p | (61.60p) |
Capital Expenditure per Share | n/a | n/a | n/a | n/a | n/a |
Dividend per Share | 78.50p | 76.50p | 74.45p | 72.45p | 65.85p |
Dividend per Share Growth | 2.61% | 2.75% | 2.76% | 10.02% | 10.25% |
Dividend Yield | 3.3% | 2.2% | 2.4% | 1.8% | 2.3% |
Shareholders Funds | 4,075.50 | 4,441.80 | 4,263.20 | 4,421.20 | 4,201.90 |
Net Borrowings £ (Millions) | 1,207.50 | 1,214.50 | 1,049.10 | 981.60 | 896.20 |
Net Asset Value per Share (inc. Intangibles) | 3,630.09p | 3,955.61p | 3,809.42p | 3,955.51p | 3,767.81p |
£ (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 | 4,075.50 | 4,441.80 | 4,263.20 | 4,421.20 | 4,201.90 |
Net Borrowings £ (Millions) | 1,207.50 | 1,214.50 | 1,049.10 | 981.60 | 896.20 |
Net Gearing | 29.63% | 27.34% | 24.61% | 22.20% | 21.33% |
Cash & Near Cash | 76.60 | 105.50 | 50.70 | 54.50 | 18.30 |
Cash | 1.88% | 2.38% | 1.19% | 1.23% | 0.44% |
Gross Borrowings | 1,284.10 | 1,320.00 | 1,099.80 | 1,036.10 | 914.50 |
Gross Gearing | 31.51% | 29.72% | 25.80% | 23.43% | 21.76% |
Borrowings Under 5 years | 1,284.10 | 1,320.00 | 1,099.80 | 1,036.10 | 914.50 |
Under 5 years | 31.51% | 29.72% | 25.80% | 23.43% | 21.76% |
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 | 4,075.50 | 4,441.80 | 4,263.20 | 4,421.20 | 4,201.90 |
Net Borrowings £ (Millions) | 1,207.50 | 1,214.50 | 1,049.10 | 981.60 | 896.20 |
Net Gearing | 29.63% | 27.34% | 24.61% | 22.20% | 21.33% |
Cash & Near Cash | 76.60 | 105.50 | 50.70 | 54.50 | 18.30 |
Cash | 1.88% | 2.38% | 1.19% | 1.23% | 0.44% |
Gross Borrowings | 1,284.10 | 1,320.00 | 1,099.80 | 1,036.10 | 914.50 |
Gross Gearing | 31.51% | 29.72% | 25.80% | 23.43% | 21.76% |
Borrowings Under 5 years | 1,284.10 | 1,320.00 | 1,099.80 | 1,036.10 | 914.50 |
Under 5 years | 31.51% | 29.72% | 25.80% | 23.43% | 21.76% |
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 | 0.70 | 0.70 | 1.18 | 0.99 | n/a |
Current Ratio | 0.95 | 0.85 | 1.30 | 1.35 | 0.46 |
Interest Cover | (6.04) 4.18 |
9.99 5.48 |
(1.75) (1.92) |
n/a n/a |
10.43 9.49 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
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