Fisher (James) & Sons (FSJ)

Sector:

Commercial Transport

Index:

FTSE Small Cap

350.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 362.00p
  • 52 Week Low: 245.50p
  • Currency: UK Pounds
  • Shares Issued: 50.50m
  • Volume: 13,465
  • Market Cap: £176.74m
  • RiskGrade: 237
  • Beta: 0.02

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Annualisation Factor 1.0 0.5 0.5 1.0 1.0
Dividend Yield 0.6% 1.8% 1.7% 0.0% 0.0%
           
Continuing Operations          
PE Ratio - Adjusted 27.7 19.4 20.3 n/a n/a
PE Ratio - Diluted 27.9
21.8		 19.5
19.4		 19.8
20.6		 n/a
n/a		 n/a
n/a
PEG - Adjusted n/a 1.2 6.8 n/a n/a
PEG - Diluted n/a
5.5		 1.5
1.1		 n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Capital Employed 15.78%
18.68%		 12.65%
12.71%		 12.13%
11.78%		 34.20%
35.31%		 34.45%
34.76%
Operating Margin 8.88%
10.53%		 10.60%
10.65%		 10.42%
10.10%		 12.08%
12.47%		 11.88%
11.99%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 27.7 38.7 40.6 n/a n/a
PE Ratio - Diluted 27.9
21.8		 39.0
38.8		 39.7
38.9		 n/a
n/a		 n/a
n/a
PEG - Adjusted 0.4 2.4 n/a n/a n/a
PEG - Diluted 0.4
0.2		 3.0
3.2		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Net Gearing 73.53% 37.21% 41.08% 30.74% 29.68%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Price/Book Value 10.3 8.0 10.0 n/a n/a
Price/Tangible Book Value 10.4 8.1 10.2 n/a n/a
Price/ Cash Flow 17.5 10.0 17.8 n/a n/a
Price/Revenue 1.65 3.10 3.36 n/a n/a
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 196.49p 216.89p 155.30p 154.16p 140.52p
Net Cash per Share n/a n/a n/a 2.73p 3.25p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Continuing Operations          
Revenue 617.10 280.75 232.68 444.80 413.67
EBITDA 54.80
65.00		 29.75
29.90		 24.24
23.51		 75.80
77.55		 67.69
68.16
Depreciation n/a
n/a		 n/a
n/a		 n/a
n/a		 (22.07)
(22.07)		 (18.56)
(18.56)
Net Interest (7.80)
(7.80)		 (3.00)
(3.00)		 (2.51)
(2.51)		 (4.68)
(4.68)		 (5.29)
(5.29)
Profit Before Tax 47.80
58.00		 27.70
27.85		 22.42
21.69		 49.23
50.98		 46.22
46.69
           
Revenue per Share 1,227.26p 559.14p 464.47p 889.84p 828.63p
Pre-Tax Profit per Share 95.06p
115.35p		 55.17p
55.47p		 44.75p
43.30p		 98.49p
101.98p		 92.59p
93.52p
Market Capitalisation £ (Millions) 1,019.27 871.58 781.98 n/a n/a
Enterprise Value (EV) £ (Millions) 1,268.07 1,003.68 909.54 80.00 76.85
EBITDA/EV 4.32%
5.13%		 2.96%
2.98%		 2.67%
2.59%		 94.75%
96.93%		 88.09%
88.69%
Operating Margin 8.88%
10.53%		 10.60%
10.65%		 10.42%
10.10%		 12.08%
12.47%		 11.88%
11.99%
Capital Employed £ (Millions) 352.30 242.70 205.40 157.66 149.54
Return on Capital Employed 15.78%
18.68%		 12.65%
12.71%		 12.13%
11.78%		 34.20%
35.31%		 34.45%
34.76%
Invested Equity Capital £ (Millions) 317.90 306.70 257.41 203.30 184.04
           
Earnings per Share - Basic 73.10p
93.27p		 89.50p
90.02p		 79.40p
76.35p		 80.20p
85.11p		 76.60p
80.20p
Earnings per Share - Diluted 72.70p
92.83p		 88.90p
89.49p		 78.70p
75.77p		 79.20p
84.09p		 75.70p
79.26p
Earnings per Share - Adjusted 73.10p 89.50p 76.90p 74.90p 66.30p
Earnings per Share Growth - Basic -18%
4%		 13%
18%		 -1%
-10%		 5%
6%		 -3%
-21%
Earnings per Share Growth - Diluted -18%
4%		 13%
18%		 -1%
-10%		 5%
6%		 -4%
-22%
Earnings per Share Growth - Adjusted -18% 16% 3% 13% 19%
PE Ratio - Diluted 27.9
21.8		 19.5
19.4		 19.8
20.6		 n/a
n/a		 n/a
n/a
PEG - Diluted n/a
5.5		 1.5
1.1		 n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 23.62% 18.88% 15.61% 17.84% 17.05%
Dividend Cover 6.47
8.25		 2.83
2.85		 2.94
2.92		 3.40
3.87		 3.32
4.01
Interest Cover 7.13
8.44		 10.23
10.28		 9.93
9.64		 11.09
11.44		 9.34
9.42
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 73.10p
93.27p		 44.75p
45.01p		 39.65p
40.44p		 80.20p
85.11p		 76.60p
80.20p
Earnings per Share - Diluted 72.70p
92.83p		 44.45p
44.74p		 39.30p
40.13p		 79.20p
84.09p		 75.70p
79.26p
Earnings per Share - Adjusted 73.10p 44.75p 38.40p 74.90p 66.30p
Earnings per Share Growth - Basic 63%
107%		 13%
11%		 -51%
-52%		 5%
6%		 -3%
-21%
Earnings per Share Growth - Diluted 64%
108%		 13%
12%		 -50%
-52%		 5%
6%		 -4%
-22%
Earnings per Share Growth - Adjusted 63% 16% -49% 13% 19%
PE Ratio - Diluted 27.9
21.8		 39.0
38.8		 39.7
38.9		 n/a
n/a		 n/a
n/a
PEG - Diluted 0.4
0.2		 3.0
3.2		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 6.47
8.25		 1.42
1.42		 1.47
1.55		 3.40
3.87		 3.32
4.01
Return on Equity (ROE) 11.54%
14.75%		 7.32%
7.37%		 7.71%
7.87%		 19.71%
20.93%		 20.79%
21.75%
Operating Cash Flow per Share 115.55p 174.07p 87.43p 99.40p 106.75p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (20.48p) (1.39p) (3.89p) (10.36p) 20.09p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 11.30p 31.60p 26.15p 22.00p 20.00p
Dividend per Share Growth (64.24%) 20.84% 18.86% 10.00% 12.99%
Dividend Yield 0.6% 1.8% 1.7% 0.0% 0.0%
Shareholders Funds 313.20 305.00 257.30 202.75 182.90
Net Borrowings £ (Millions) 230.30 113.50 105.77 62.33 54.28
Net Asset Value per Share (inc. Intangibles) 194.90p 214.10p 153.31p 151.29p 138.71p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Shareholders' Funds inc Intangibles 313.20 305.00 257.30 202.75 182.90
Net Borrowings £ (Millions) 230.30 113.50 105.77 62.33 54.28
Net Gearing 73.53% 37.21% 41.08% 30.74% 29.68%
Cash & Near Cash 18.50 18.60 21.80 17.72 23.98
Cash 5.91% 6.10% 8.47% 8.74% 13.11%
Gross Borrowings 248.80 132.10 127.57 80.05 78.26
Gross Gearing 79.44% 43.31% 49.55% 39.48% 42.79%
Borrowings Under 5 years 248.80 132.10 127.57 80.05 78.26
Under 5 years 79.44% 43.31% 49.58% 39.48% 42.79%
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-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Shareholders' Funds exc Intangibles 98.00 107.50 76.80 75.62 69.25
Net Borrowings £ (Millions) 230.30 113.50 105.77 62.33 54.28
Net Gearing 235.00% 105.58% 137.63% 82.43% 78.38%
Cash & Near Cash 18.50 18.60 21.80 17.72 23.98
Cash 18.88% 17.30% 28.39% 23.43% 34.63%
Gross Borrowings 248.80 132.10 127.57 80.05 78.26
Gross Gearing 253.88% 122.88% 166.02% 105.86% 113.02%
Borrowings Under 5 years 248.80 132.10 127.57 80.05 78.26
Under 5 years 253.88% 122.88% 166.10% 105.86% 113.02%
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-19 31-Dec-18 31-Dec-16 31-Dec-14 31-Dec-13
Quick Ratio 1.23 1.28 1.27 1.16 1.17
Current Ratio 1.48 1.56 1.66 1.50 1.63

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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