Victrex plc (VCT)

Sector:

Industrial Chemicals

Index:

FTSE 250

1,316.00p
   
  • Change Today:
      24.00p
  • 52 Week High: 1,606.00
  • 52 Week Low: 1,226.00
  • Currency: UK Pounds
  • Shares Issued: 87.03m
  • Volume: 28,094
  • Market Cap: £1,145.38m
  • RiskGrade: 112

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 4.2% 3.6% 2.5% 2.5% 2.8%
           
Continuing Operations          
PE Ratio - Adjusted 18.1 17.6 28.6 29.2 20.1
PE Ratio - Diluted 19.9
18.4		 19.1
17.8		 28.4
28.6		 29.3
29.3		 20.2
19.9
PEG - Adjusted n/a 1.3 0.9 n/a n/a
PEG - Diluted n/a
n/a		 4.8
1.4		 0.8
0.9		 n/a
n/a		 n/a
n/a
Return on Capital Employed 12.69%
14.02%		 16.30%
17.77%		 0.17%
0.17%		 13.05%
13.05%		 22.82%
23.17%
Operating Margin 23.84%
26.29%		 25.95%
28.27%		 30.20%
29.94%		 23.87%
23.87%		 35.41%
35.95%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 18.1 17.6 2,829.5 29.2 20.1
PE Ratio - Diluted 19.9
18.4		 19.1
17.8		 2,809.3
2,837.2		 29.3
29.3		 20.2
19.9
PEG - Adjusted n/a 0.0 n/a n/a 0.1
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
0.1

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Net Gearing 3.37% (5.44%) (11.59%) (13.80%) n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Price/Book Value 2.5 3.1 4.2 3.5 4.3
Price/Tangible Book Value 2.5 3.1 4.3 3.5 4.3
Price/ Cash Flow 29.3 18.1 16.2 22.8 23.2
Price/Revenue 3.98 4.26 668.00 5.95 6.32
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 554.77p 541.33p 561.56p 525.73p 504.06p
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 30-Sep-19
Continuing Operations          
Revenue 307.00 341.00 3.09 266.00 294.00
EBITDA 94.70
102.20		 110.10
118.00		 1.15
1.15		 63.50
63.50		 121.50
123.10
Depreciation (21.50)
(21.50)		 (21.60)
(21.60)		 (0.22)
(0.22)		 n/a
n/a		 (17.40)
(17.40)
Net Interest 0.60
0.60		 0.20
0.20		 n/a
n/a		 n/a
n/a		 0.70
0.70
Profit Before Tax 72.50
80.00		 87.70
95.60		 0.93
0.93		 63.50
63.50		 104.70
106.30
           
Revenue per Share 353.13p 392.42p 3.57p 307.62p 341.30p
Pre-Tax Profit per Share 83.39p
92.02p		 100.92p
110.02p		 1.08p
1.07p		 73.44p
73.44p		 121.55p
123.40p
Market Capitalisation £ (Millions) 1,222.61 1,452.82 2,071.59 n/a 1,865.75
Enterprise Value (EV) £ (Millions) 1,269.41 1,466.92 2,044.19 (0.10) 1,863.25
EBITDA/EV 7.46%
8.05%		 7.51%
8.04%		 0.06%
0.06%		 (63,500.06%)
(63,500.06%)		 6.52%
6.61%
Operating Margin 23.84%
26.29%		 25.95%
28.27%		 30.20%
29.94%		 23.87%
23.87%		 35.41%
35.95%
Capital Employed £ (Millions) 566.50 536.80 534.40 486.60 455.80
Return on Capital Employed 12.69%
14.02%		 16.30%
17.77%		 0.17%
0.17%		 13.05%
13.05%		 22.82%
23.17%
Invested Equity Capital £ (Millions) 533.00 523.10 540.80 503.00 483.20
           
Earnings per Share - Basic 70.90p
76.84p		 87.60p
94.25p		 84.30p
83.50p		 62.60p
62.68p		 107.20p
109.01p
Earnings per Share - Diluted 70.50p
76.35p		 87.30p
93.88p		 84.00p
83.17p		 62.50p
62.56p		 106.90p
108.66p
Earnings per Share - Adjusted 77.70p 95.00p 83.40p 62.60p 107.20p
Earnings per Share Growth - Basic -19%
-18%		 4%
13%		 35%
33%		 -42%
-42%		 -17%
-16%
Earnings per Share Growth - Diluted -19%
-19%		 4%
13%		 34%
33%		 -42%
-42%		 -17%
-16%
Earnings per Share Growth - Adjusted -18% 14% 33% -42% -17%
PE Ratio - Diluted 19.9
18.4		 19.1
17.8		 28.4
28.6		 29.3
29.3		 20.2
19.9
PEG - Diluted n/a
n/a		 4.8
1.4		 0.8
0.9		 n/a
n/a		 n/a
n/a
Tax Rate 15.58% 13.75% 21.30% 14.65% 11.74%
Dividend Cover 1.30
1.29		 1.60
1.58		 1.40
1.40		 1.36
1.36		 1.80
1.83
Interest Cover 104.57
115.29		 293.33
319.67		 463.50
459.50		 212.67
212.67		 n/a
n/a
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 70.90p
76.84p		 87.60p
94.25p		 0.85p
0.84p		 62.60p
62.68p		 107.20p
109.01p
Earnings per Share - Diluted 70.50p
76.35p		 87.30p
93.88p		 0.85p
0.84p		 62.50p
62.56p		 106.90p
108.66p
Earnings per Share - Adjusted 77.70p 95.00p 0.84p 62.60p 107.20p
Earnings per Share Growth - Basic -19%
-18%		 10,195%
11,082%		 -99%
-99%		 -42%
-42%		 233%
237%
Earnings per Share Growth - Diluted -19%
-19%		 10,196%
11,082%		 -99%
-99%		 -42%
-42%		 234%
237%
Earnings per Share Growth - Adjusted -18% 11,185% -99% -42% 233%
PE Ratio - Diluted 19.9
18.4		 19.1
17.8		 2,809.3
2,837.2		 29.3
29.3		 20.2
19.9
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
0.1
Dividend Cover 1.30
1.29		 1.60
1.58		 0.01
0.01		 1.36
1.36		 1.80
1.83
Return on Equity (ROE) 11.44%
12.53%		 14.43%
15.66%		 0.14%
0.14%		 10.78%
10.78%		 19.12%
19.43%
Operating Cash Flow per Share 47.97p 92.06p 146.59p 80.26p 92.99p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (27.95p) (21.41p) 0.026p 1.39p 0.46p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 59.56p 59.56p 59.56p 46.14p 59.56p
Dividend per Share Growth n/a n/a 29.09% (22.53%) n/a
Dividend Yield 4.2% 3.6% 2.5% 2.5% 2.8%
Shareholders Funds 499.00 488.80 509.20 478.10 461.60
Net Borrowings £ (Millions) 16.80 (26.60) (59.00) (66.00) (72.50)
Net Asset Value per Share (inc. Intangibles) 552.47p 539.26p 558.68p 522.38p 504.06p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Sep-23 30-Sep-22 30-Sep-21 30-Sep-20 30-Sep-19
Shareholders' Funds inc Intangibles 499.00 488.80 509.20 478.10 461.60
Net Borrowings £ (Millions) 16.80 (26.60) (59.00) (66.00) (72.50)
Net Gearing 3.37% (5.44%) (11.59%) (13.80%) n/a
Cash & Near Cash 33.40 58.70 74.90 73.10 72.50
Cash 6.69% 12.01% 14.71% 15.29% 15.71%
Gross Borrowings 50.20 32.10 15.90 7.10 n/a
Gross Gearing 10.06% 6.57% 3.12% 1.49% n/a
Borrowings Under 5 years 50.20 32.10 15.90 7.10 n/a
Under 5 years 10.06% 6.57% 3.12% 1.49% n/a
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 30-Sep-19
Shareholders' Funds exc Intangibles 480.30 468.60 484.40 451.70 434.20
Net Borrowings £ (Millions) 16.80 (26.60) (59.00) (66.00) (72.50)
Net Gearing 3.50% (5.68%) (12.18%) (14.61%) n/a
Cash & Near Cash 33.40 58.70 74.90 73.10 72.50
Cash 6.95% 12.53% 15.46% 16.18% 16.70%
Gross Borrowings 50.20 32.10 15.90 7.10 n/a
Gross Gearing 10.45% 6.85% 3.28% 1.57% n/a
Borrowings Under 5 years 50.20 32.10 15.90 7.10 n/a
Under 5 years 10.45% 6.85% 3.28% 1.57% n/a
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 30-Sep-19
Quick Ratio 1.84 1.71 2.99 2.96 2.26
Current Ratio 4.78 2.74 4.24 5.55 4.00

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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