Volex (VLX)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 50

348.00p
   
  • Change Today:
      9.00p
  • 52 Week High: 350.00
  • 52 Week Low: 263.00
  • Currency: UK Pounds
  • Shares Issued: 181.62m
  • Volume: 358,273
  • Market Cap: £632.03m
  • RiskGrade: 228

Key Financials

  £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 03-Apr-11 04-Apr-10 05-Apr-09
Annualisation Factor 1.0 1.0 1.0
Dividend Yield 0.8% 0.0% 0.0%
       
Continuing Operations      
PE Ratio - Adjusted 11.6 6.2 2.0
PE Ratio - Diluted 13.8
13.6		 10.1
7.1		 7.8
5.3
PEG - Adjusted 0.2 0.2 n/a
PEG - Diluted 0.1
0.3		 0.0
0.0		 n/a
n/a
Return on Capital Employed 34.04%
32.46%		 25.65%
27.87%		 16.07%
15.44%
Operating Margin 3.09%
3.09%		 2.94%
3.84%		 1.67%
1.94%
       
Continuing & Discontinued Operations      
PE Ratio - Adjusted 11.6 6.2 2.0
PE Ratio - Diluted 13.8
21.1		 10.1
9.4		 n/a
n/a
PEG - Adjusted 0.2 0.2 n/a
PEG - Diluted 0.1
0.8		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing 03-Apr-11 04-Apr-10 05-Apr-09
Net Gearing 19.45% 59.80% 235.84%

  £ (Millions) £ (Millions) £ (Millions)
Value Metrics 03-Apr-11 04-Apr-10 05-Apr-09
Price/Book Value n/a n/a n/a
Price/Tangible Book Value n/a n/a n/a
Price/ Cash Flow n/a n/a n/a
Price/Revenue n/a n/a n/a
Price/R&D n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 58.18p 26.95p 9.86p
Net Cash per Share 4.36p 2.92p (2.91p)

  £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 03-Apr-11 04-Apr-10 05-Apr-09
Continuing Operations      
Revenue 490.01 348.09 393.57
EBITDA 17.35
17.37		 12.54
15.64		 8.83
9.87
Depreciation (2.21)
(2.21)		 (2.29)
(2.29)		 (2.24)
(2.24)
Net Interest (2.06)
(2.06)		 (3.34)
(3.34)		 (3.01)
(3.01)
Profit Before Tax 20.31
20.33		 10.50
13.60		 5.31
6.35
       
Revenue per Share 862.37p 612.60p 692.64p
Pre-Tax Profit per Share 35.75p
35.78p		 18.49p
23.94p		 9.35p
11.18p
Market Capitalisation £ (Millions) 190.65 61.79 14.40
Enterprise Value (EV) £ (Millions) 207.21 87.00 45.98
EBITDA/EV 8.38%
8.38%		 14.42%
17.98%		 19.21%
21.47%
Operating Margin 3.09%
3.09%		 2.94%
3.84%		 1.67%
1.94%
Capital Employed £ (Millions) 68.95 60.79 60.61
Return on Capital Employed 34.04%
32.46%		 25.65%
27.87%		 16.07%
15.44%
Invested Equity Capital £ (Millions) 43.28 23.37 14.70
       
Earnings per Share - Basic 28.84¢
29.34¢		 13.91¢
19.58¢		 4.09¢
5.98¢
Earnings per Share - Diluted 27.75¢
28.27¢		 13.61¢
19.26¢		 4.09¢
5.98¢
Earnings per Share - Adjusted 33.16¢ 22.14¢ 15.92¢
Earnings per Share Growth - Basic 107%
50%		 240%
227%		 n/a
n/a
Earnings per Share Growth - Diluted 104%
47%		 233%
222%		 n/a
n/a
Earnings per Share Growth - Adjusted 50% 39% n/a
PE Ratio - Diluted 13.8
13.6		 10.1
7.1		 7.8
5.3
PEG - Diluted 0.1
0.3		 0.0
0.0		 n/a
n/a
Tax Rate 11.68% 15.53% 37.46%
Dividend Cover 10.46
9.25		 n/a
n/a		 n/a
n/a
Interest Cover 10.21
10.22		 4.08
4.99		 2.64
2.96
       
Continuing & Discontinued Operations      
Earnings per Share - Basic 28.84¢
18.88¢		 13.91¢
14.75¢		 (49.82¢)
(1.93¢)
Earnings per Share - Diluted 27.75¢
18.20¢		 13.61¢
14.50¢		 (49.82¢)
(1.93¢)
Earnings per Share - Adjusted 33.16¢ 22.14¢ 15.92¢
Earnings per Share Growth - Basic 107%
28%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted 104%
26%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 50% 39% n/a
PE Ratio - Diluted 13.8
21.1		 10.1
9.4		 n/a
n/a
PEG - Diluted 0.1
0.8		 n/a
n/a		 n/a
n/a
Dividend Cover 10.46
5.95		 n/a
n/a		 n/a
n/a
Return on Equity (ROE) 24.75%
24.79%		 22.59%
35.85%		 (131.84%)
(7.45%)
Operating Cash Flow per Share 19.51p 31.75p 34.90p
Gross Cash Flow per Share cn/a cn/a cn/a
Cash Incr/Decr per Share (15.76p) 1.79p 27.77p
Capital Expenditure per Share n/a n/a n/a
Dividend per Share 3.17¢ n/a n/a
Dividend per Share Growth n/a n/a n/a
Dividend Yield 0.8% 0.0% 0.0%
Shareholders Funds 38.29 19.24 9.31
Net Borrowings £ (Millions) (3.11) (1.91) 6.61
Net Asset Value per Share (inc. Intangibles) 58.18p 26.95p 9.86p

  £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 03-Apr-11 04-Apr-10 05-Apr-09
Shareholders' Funds inc Intangibles 38.29 19.24 9.31
Net Borrowings £ (Millions) (3.11) (1.91) 6.61
Net Gearing 19.45% 59.80% 235.84%
Cash & Near Cash 20.40 27.70 25.05
Cash 53.28% 143.92% 269.21%
Gross Borrowings 17.28 25.79 31.66
Gross Gearing 72.73% 203.72% 505.06%
Borrowings Under 5 years 17.28 25.79 31.66
Under 5 years 45.14% 134.02% 340.24%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 03-Apr-11 04-Apr-10 05-Apr-09
Shareholders' Funds exc Intangibles 33.06 15.31 5.60
Net Borrowings £ (Millions) (3.11) (1.91) 6.61
Net Gearing 22.53% 75.17% 391.86%
Cash & Near Cash 20.40 27.70 25.05
Cash 61.70% 180.90% 447.31%
Gross Borrowings 17.28 25.79 31.66
Gross Gearing 84.23% 256.07% 839.17%
Borrowings Under 5 years 17.28 25.79 31.66
Under 5 years 52.28% 168.45% 565.33%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Cover 03-Apr-11 04-Apr-10 05-Apr-09
Quick Ratio 1.38 1.66 1.72
Current Ratio 1.89 2.23 2.26

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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