Oxford Instruments (OXIG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

2,375.00p
   
  • Change Today:
      25.00p
  • 52 Week High: 2,810.00
  • 52 Week Low: 1,712.00
  • Currency: UK Pounds
  • Shares Issued: 57.92m
  • Volume: 8,367
  • Market Cap: £1,375.52m
  • RiskGrade: 153

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 0.8% 0.9% 0.9% 0.0% 1.5%
           
Continuing Operations          
PE Ratio - Adjusted 22.2 22.4 24.2 18.2 15.7
PE Ratio - Diluted 25.0
25.9		 31.9
22.7		 26.5
29.4		 23.1
18.4		 20.3
16.2
PEG - Adjusted 1.1 1.1 2.0 1.4 n/a
PEG - Diluted 0.5
6.5		 n/a
0.5		 0.9
n/a		 1.5
1.2		 0.4
1.4
Return on Capital Employed 27.47%
27.47%		 21.94%
30.12%		 0.29%
0.25%		 21.19%
26.20%		 7.25%
9.36%
Operating Margin 16.28%
16.28%		 13.15%
18.05%		 16.04%
14.57%		 12.13%
15.50%		 10.83%
14.11%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 22.2 22.4 2,402.3 18.5 75.3
PE Ratio - Diluted 25.0
25.9		 31.9
22.7		 2,626.2
2,917.1		 21.9
18.7		 94.0
77.9
PEG - Adjusted 1.1 0.0 n/a 0.0 n/a
PEG - Diluted 0.5
6.5		 0.0
0.0		 n/a
n/a		 0.0
0.0		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing (20.00%) (21.33%) (33.85%) (23.41%) 1.14%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Price/Book Value 6.8 6.9 7.6 6.3 11.2
Price/Tangible Book Value 6.8 6.9 7.6 6.3 11.2
Price/ Cash Flow 21.7 24.7 26.2 13.3 12.7
Price/Revenue 3.25 3.30 340.30 2.31 8.90
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 367.24p 305.56p 250.17p 202.62p 86.89p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Continuing Operations          
Revenue 444.70 367.30 3.21 317.40 62.77
EBITDA 92.50
92.50		 67.20
85.20		 0.69
0.65		 38.50
49.20		 6.80
8.86
Depreciation (20.10)
(20.10)		 (18.90)
(18.90)		 (0.18)
(0.18)		 n/a
n/a		 n/a
n/a
Net Interest 1.10
1.10		 (0.70)
(0.40)		 0.01
0.01		 0.30
0.30		 0.06
0.06
Profit Before Tax 73.50
73.50		 47.60
65.90		 0.53
0.48		 38.80
49.50		 6.86
8.92
           
Revenue per Share 770.71p 638.78p 5.60p 553.93p 109.73p
Pre-Tax Profit per Share 127.38p
127.38p		 82.78p
114.61p		 0.92p
0.83p		 67.71p
86.39p		 11.99p
15.59p
Market Capitalisation £ (Millions) 1,444.24 1,212.44 1,095.22 735.17 560.56
Enterprise Value (EV) £ (Millions) 1,487.54 1,240.34 1,126.22 770.57 594.56
EBITDA/EV 6.22%
6.22%		 5.42%
6.87%		 0.06%
0.06%		 5.00%
6.38%		 1.14%
1.49%
Operating Margin 16.28%
16.28%		 13.15%
18.05%		 16.04%
14.57%		 12.13%
15.50%		 10.83%
14.11%
Capital Employed £ (Millions) 263.60 220.10 187.10 187.80 94.60
Return on Capital Employed 27.47%
27.47%		 21.94%
30.12%		 0.29%
0.25%		 21.19%
26.20%		 7.25%
9.36%
Invested Equity Capital £ (Millions) 351.80 331.90 271.80 262.70 209.60
           
Earnings per Share - Basic 101.60p
97.92p		 67.10p
94.26p		 72.80p
65.52p		 55.90p
70.16p		 48.60p
60.66p
Earnings per Share - Diluted 100.30p
96.75p		 66.20p
92.97p		 71.90p
64.73p		 55.30p
69.43p		 48.20p
60.14p
Earnings per Share - Adjusted 112.70p 94.30p 78.60p 70.20p 62.30p
Earnings per Share Growth - Basic 51%
4%		 -8%
44%		 30%
-7%		 15%
16%		 51%
13%
Earnings per Share Growth - Diluted 52%
4%		 -8%
44%		 30%
-7%		 15%
15%		 51%
12%
Earnings per Share Growth - Adjusted 20% 20% 12% 13% -8%
PE Ratio - Diluted 25.0
25.9		 31.9
22.7		 26.5
29.4		 23.1
18.4		 20.3
16.2
PEG - Diluted 0.5
6.5		 n/a
0.5		 0.9
n/a		 1.5
1.2		 0.4
1.4
Tax Rate 20.27% 18.91% 19.92% 17.53% 18.95%
Dividend Cover 5.78
5.02		 5.21
5.21		 4.62
3.85		 n/a
n/a		 4.33
4.21
Interest Cover 46.94
46.94		 40.67
74.22		 n/a
n/a		 n/a
n/a		 n/a
n/a
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 101.60p
97.92p		 67.10p
94.26p		 0.73p
0.66p		 59.00p
69.28p		 10.47p
12.65p
Earnings per Share - Diluted 100.30p
96.75p		 66.20p
92.97p		 0.73p
0.65p		 58.40p
68.57p		 10.39p
12.54p
Earnings per Share - Adjusted 112.70p 94.30p 0.79p 69.30p 12.97p
Earnings per Share Growth - Basic 51%
4%		 9,031%
14,153%		 -99%
-99%		 463%
448%		 -67%
-76%
Earnings per Share Growth - Diluted 52%
4%		 9,022%
14,129%		 -99%
-99%		 462%
447%		 -67%
-77%
Earnings per Share Growth - Adjusted 20% 11,786% -99% 434% -81%
PE Ratio - Diluted 25.0
25.9		 31.9
22.7		 2,626.2
2,917.1		 21.9
18.7		 94.0
77.9
PEG - Diluted 0.5
6.5		 0.0
0.0		 n/a
n/a		 0.0
0.0		 n/a
n/a
Dividend Cover 5.78
5.02		 5.21
5.21		 0.05
0.04		 n/a
n/a		 0.90
0.88
Return on Equity (ROE) 16.66%
16.06%		 11.63%
16.33%		 0.16%
0.14%		 12.87%
15.11%		 2.86%
3.45%
Operating Cash Flow per Share 115.25p 85.39p 72.82p 96.33p 77.10p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 23.40p (21.22p) 0.11p 102.09p 4.75p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 19.50p 18.10p 17.00p n/a 14.40p
Dividend per Share Growth 7.73% 6.47% n/a n/a 16.13%
Dividend Yield 0.8% 0.9% 0.9% 0.0% 1.5%
Shareholders Funds 344.00 316.40 266.20 251.60 202.20
Net Borrowings £ (Millions) (67.80) (67.50) (90.10) (83.00) 2.30
Net Asset Value per Share (inc. Intangibles) 367.24p 305.56p 250.17p 202.62p 86.89p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds inc Intangibles 344.00 316.40 266.20 251.60 202.20
Net Borrowings £ (Millions) (67.80) (67.50) (90.10) (83.00) 2.30
Net Gearing (20.00%) (21.33%) (33.85%) (23.41%) 1.14%
Cash & Near Cash 112.70 96.40 128.00 119.50 35.20
Cash 32.76% 30.47% 48.08% 47.50% 17.41%
Gross Borrowings 44.90 28.90 37.90 36.50 37.50
Gross Gearing 12.76% 9.13% 14.24% 24.09% 18.55%
Borrowings Under 5 years 44.90 28.90 37.90 36.50 37.50
Under 5 years 13.05% 9.13% 14.24% 14.51% 18.55%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds exc Intangibles 211.90 175.70 143.60 116.10 49.70
Net Borrowings £ (Millions) (67.80) (67.50) (90.10) (83.00) 2.30
Net Gearing (32.47%) (38.42%) (62.74%) (50.73%) 4.63%
Cash & Near Cash 112.70 96.40 128.00 119.50 35.20
Cash 53.19% 54.87% 89.14% 102.93% 70.82%
Gross Borrowings 44.90 28.90 37.90 36.50 37.50
Gross Gearing 20.72% 16.45% 26.39% 52.20% 75.45%
Borrowings Under 5 years 44.90 28.90 37.90 36.50 37.50
Under 5 years 21.19% 16.45% 26.39% 31.44% 75.45%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio 1.24 1.23 1.21 1.13 0.88
Current Ratio 1.65 1.62 1.55 1.48 1.33

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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