Marshalls (MSLH)

Sector:

Construction and Building Materials

Index:

FTSE 250

268.00p
   
  • Change Today:
      1.50p
  • 52 Week High: 358.00
  • 52 Week Low: 233.50
  • Currency: UK Pounds
  • Shares Issued: 252.97m
  • Volume: 382,089
  • Market Cap: £677.96m
  • RiskGrade: 148
  • Beta: 0.02

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 5.7% 2.1% 0.6% 0.5% 2.6%
           
Continuing Operations          
PE Ratio - Adjusted 8.7 23.5 86.5 29.3 17.7
PE Ratio - Diluted 24.2
8.8		 25.1
24.3		 630.7
83.5		 29.5
29.4		 17.8
17.7
PEG - Adjusted 1.2 0.1 n/a 2.4 0.1
PEG - Diluted n/a
1.0		 0.0
0.1		 n/a
n/a		 2.5
2.4		 0.1
0.1
Return on Capital Employed 9.74%
19.26%		 0.21%
0.22%		 2.39%
6.92%		 22.05%
22.05%		 5.79%
5.79%
Operating Margin 6.66%
13.16%		 12.94%
14.91%		 2.00%
5.79%		 13.60%
13.60%		 13.20%
13.20%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 8.7 2,328.9 86.5 29.3 70.8
PE Ratio - Diluted 24.2
8.8		 2,481.9
2,402.6		 630.7
83.5		 29.5
29.4		 71.3
71.0
PEG - Adjusted 0.0 n/a n/a 0.1 n/a
PEG - Diluted 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
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 35.83% 11.98% 26.34% 20.33% 14.09%

  £ (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 6.3 5.5 7.7 8.5 5.4
Price/Tangible Book Value 6.4 5.5 7.7 8.5 5.4
Price/ Cash Flow 7.5 20.9 119.5 19.3 14.5
Price/Revenue 0.89 230.78 3.15 3.13 7.46
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 43.08p 125.22p 97.25p 100.82p 86.46p
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 719.40 5.95 469.45 541.83 122.66
EBITDA 69.70
116.50		 1.07
1.19		 39.77
57.58		 73.68
73.68		 16.20
16.20
Depreciation (21.80)
(21.80)		 (0.30)
(0.30)		 (30.40)
(30.40)		 n/a
n/a		 n/a
n/a
Net Interest (10.70)
(10.70)		 (0.07)
(0.07)		 (4.72)
(4.72)		 (3.83)
(3.83)		 (0.47)
(0.47)
Profit Before Tax 37.20
84.00		 0.70
0.73		 4.65
22.46		 69.85
69.85		 15.72
15.72
           
Revenue per Share 305.62p 2.99p 236.33p 273.17p 62.05p
Pre-Tax Profit per Share 15.80p
35.69p		 0.35p
0.36p		 2.34p
11.31p		 35.22p
35.22p		 7.95p
7.95p
Market Capitalisation £ (Millions) 691.11 1,744.13 1,488.83 1,712.91 925.49
Enterprise Value (EV) £ (Millions) 980.41 1,823.79 1,667.33 1,825.52 1,008.36
EBITDA/EV 7.11%
11.88%		 0.06%
0.07%		 2.39%
3.45%		 4.04%
4.04%		 1.61%
1.61%
Operating Margin 6.66%
13.16%		 12.94%
14.91%		 2.00%
5.79%		 13.60%
13.60%		 13.20%
13.20%
Capital Employed £ (Millions) 491.70 360.55 392.66 334.16 279.54
Return on Capital Employed 9.74%
19.26%		 0.21%
0.22%		 2.39%
6.92%		 22.05%
22.05%		 5.79%
5.79%
Invested Equity Capital £ (Millions) 757.70 372.23 307.11 316.00 291.11
           
Earnings per Share - Basic 11.40p
31.14p		 27.62p
28.60p		 1.19p
8.98p		 29.23p
29.36p		 26.18p
26.29p
Earnings per Share - Diluted 11.30p
30.98p		 27.52p
28.43p		 1.18p
8.92p		 29.02p
29.14p		 25.97p
26.08p
Earnings per Share - Adjusted 31.30p 29.33p 8.60p 29.23p 26.18p
Earnings per Share Growth - Basic -59%
9%		 2,221%
218%		 -96%
-69%		 12%
12%		 160%
163%
Earnings per Share Growth - Diluted -59%
9%		 2,232%
219%		 -96%
-69%		 12%
12%		 164%
167%
Earnings per Share Growth - Adjusted 7% 241% -71% 12% 160%
PE Ratio - Diluted 24.2
8.8		 25.1
24.3		 630.7
83.5		 29.5
29.4		 17.8
17.7
PEG - Diluted n/a
1.0		 0.0
0.1		 n/a
n/a		 2.5
2.4		 0.1
0.1
Tax Rate 28.76% 20.81% 45.02% 17.10% 17.97%
Dividend Cover 2.01
2.00		 2.05
2.00		 2.00
2.09		 6.25
6.27		 2.19
2.20
Interest Cover 4.48
8.85		 11.04
11.44		 1.98
5.75		 19.21
19.21		 34.05
34.05
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 11.40p
31.14p		 0.28p
0.29p		 1.19p
8.98p		 29.23p
29.36p		 6.54p
6.57p
Earnings per Share - Diluted 11.30p
30.98p		 0.28p
0.29p		 1.18p
8.92p		 29.02p
29.14p		 6.49p
6.52p
Earnings per Share - Adjusted 31.30p 0.30p 8.60p 29.23p 6.54p
Earnings per Share Growth - Basic 3,989%
10,685%		 -77%
-97%		 -96%
-69%		 347%
347%		 -35%
-35%
Earnings per Share Growth - Diluted 3,968%
10,696%		 -76%
-97%		 -96%
-69%		 347%
347%		 -34%
-34%
Earnings per Share Growth - Adjusted 10,473% -97% -71% 347% -35%
PE Ratio - Diluted 24.2
8.8		 2,481.9
2,402.6		 630.7
83.5		 29.5
29.4		 71.3
71.0
PEG - Diluted 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
0.1		 n/a
n/a
Dividend Cover 2.01
2.00		 0.02
0.02		 2.00
2.09		 6.25
6.27		 0.55
0.55
Return on Equity (ROE) 3.50%
9.67%		 0.15%
0.15%		 0.77%
5.81%		 18.43%
18.43%		 4.46%
4.46%
Operating Cash Flow per Share 36.24p 32.92p 6.23p 44.43p 32.00p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 6.29p (0.32p) 25.41p 3.86p 3.26p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 15.60p 14.30p 4.30p 4.68p 11.95p
Dividend per Share Growth 9.09% 232.56% (8.12%) (60.83%) 118.18%
Dividend Yield 5.7% 2.1% 0.6% 0.5% 2.6%
Shareholders Funds 660.30 343.33 286.90 295.04 265.62
Net Borrowings £ (Millions) 236.60 41.12 75.57 59.98 37.43
Net Asset Value per Share (inc. Intangibles) 42.74p 124.73p 96.77p 100.45p 85.91p

  £ (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 660.30 343.33 286.90 295.04 265.62
Net Borrowings £ (Millions) 236.60 41.12 75.57 59.98 37.43
Net Gearing 35.83% 11.98% 26.34% 20.33% 14.09%
Cash & Near Cash 56.30 41.21 103.71 53.26 45.71
Cash 8.53% 12.00% 36.15% 18.05% 17.21%
Gross Borrowings 292.90 82.33 179.27 113.23 83.14
Gross Gearing 44.36% 23.98% 62.49% 38.38% 31.30%
Borrowings Under 5 years 292.90 82.33 179.27 113.23 83.14
Under 5 years 44.36% 23.98% 62.49% 38.38% 31.30%
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 100.60 248.33 192.22 199.24 169.82
Net Borrowings £ (Millions) 236.60 41.12 75.57 59.98 37.43
Net Gearing 235.19% 16.56% 39.31% 30.10% 22.04%
Cash & Near Cash 56.30 41.21 103.71 53.26 45.71
Cash 55.96% 16.60% 53.95% 26.73% 26.92%
Gross Borrowings 292.90 82.33 179.27 113.23 83.14
Gross Gearing 291.15% 33.16% 93.26% 56.83% 48.96%
Borrowings Under 5 years 292.90 82.33 179.27 113.23 83.14
Under 5 years 291.15% 33.16% 93.26% 56.83% 48.96%
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 1.10 1.03 1.27 0.76 0.90
Current Ratio 1.92 1.75 1.85 1.31 1.49

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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