Telecom Plus (TEP)

Sector:

Telecom Operators

Index:

FTSE 250

1,808.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 1,830.00
  • 52 Week Low: 1,362.00
  • Currency: UK Pounds
  • Shares Issued: 78.89m
  • Volume: 83,326
  • Market Cap: £1,426.40m
  • RiskGrade: 100

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 4.2% 3.7% 4.5% 4.6% 3.4%
           
Continuing Operations          
PE Ratio - Adjusted 19.1 24.2 22.1 20.1 25.8
PE Ratio - Diluted 22.2
21.4		 34.0
32.3		 30.7
30.7		 27.2
26.3		 35.9
34.2
PEG - Adjusted 0.3 2.4 n/a 4.0 2.3
PEG - Diluted 0.2
0.2		 3.8
2.3		 n/a
n/a		 3.4
4.4		 7.2
1.8
Return on Capital Employed 50.92%
52.25%		 33.08%
34.37%		 0.32%
0.32%		 32.79%
33.58%		 10.32%
10.70%
Operating Margin 3.62%
3.71%		 5.15%
5.35%		 5.32%
5.32%		 5.73%
5.87%		 5.51%
5.71%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 19.1 24.2 2,191.9 20.1 103.1
PE Ratio - Diluted 22.2
21.4		 34.0
32.3		 3,039.1
3,039.7		 27.2
26.3		 143.8
137.1
PEG - Adjusted 0.3 0.0 n/a 0.1 n/a
PEG - Diluted 0.2
0.2		 0.0
0.0		 n/a
n/a		 0.1
0.1		 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 (44.83%) 34.06% 33.55% 26.70% 16.44%

  £ (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 17.7 24.3 21.5 19.9 25.7
Price/Tangible Book Value 17.7 23.9 21.3 19.7 25.6
Price/ Cash Flow 6.3 23.4 23.0 24.9 43.1
Price/Revenue 0.60 1.24 114.59 1.11 5.90
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 106.86p 62.87p 59.20p 62.54p 59.11p
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 2,475.16 967.43 8.69 875.77 200.97
EBITDA 110.86
113.21		 70.12
72.06		 0.66
0.66		 67.65
68.86		 11.07
11.48
Depreciation (21.38)
(21.38)		 (20.34)
(20.34)		 (0.19)
(0.19)		 (17.49)
(17.49)		 n/a
n/a
Net Interest (4.04)
(4.04)		 (2.57)
(2.57)		 (0.02)
(0.02)		 (2.06)
(2.06)		 (0.33)
(0.33)
Profit Before Tax 85.45
87.80		 47.21
49.14		 0.44
0.44		 48.11
49.31		 10.74
11.15
           
Revenue per Share 3,131.17p 1,230.82p 11.08p 1,119.84p 257.74p
Pre-Tax Profit per Share 108.10p
111.07p		 60.06p
62.52p		 0.56p
0.56p		 61.52p
63.06p		 13.78p
14.30p
Market Capitalisation £ (Millions) 1,510.81 1,216.47 1,006.30 982.05 1,198.32
Enterprise Value (EV) £ (Millions) 1,580.28 1,297.46 981.65 964.05 1,259.54
EBITDA/EV 7.02%
7.16%		 5.40%
5.55%		 0.07%
0.07%		 7.02%
7.14%		 0.88%
0.91%
Operating Margin 3.62%
3.71%		 5.15%
5.35%		 5.32%
5.32%		 5.73%
5.87%		 5.51%
5.71%
Capital Employed £ (Millions) 175.76 150.47 144.05 153.00 107.30
Return on Capital Employed 50.92%
52.25%		 33.08%
34.37%		 0.32%
0.32%		 32.79%
33.58%		 10.32%
10.70%
Invested Equity Capital £ (Millions) 231.61 207.56 213.97 223.48 225.37
           
Earnings per Share - Basic 86.60p
89.53p		 45.10p
47.58p		 41.50p
41.54p		 45.90p
47.46p		 42.50p
44.58p
Earnings per Share - Diluted 85.20p
88.17p		 45.00p
47.41p		 41.40p
41.39p		 45.70p
47.22p		 42.30p
44.38p
Earnings per Share - Adjusted 99.20p 63.20p 57.40p 61.80p 59.00p
Earnings per Share Growth - Basic 92%
88%		 9%
15%		 -10%
-12%		 8%
6%		 5%
18%
Earnings per Share Growth - Diluted 89%
86%		 9%
14%		 -9%
-12%		 8%
6%		 5%
19%
Earnings per Share Growth - Adjusted 57% 10% -7% 5% 11%
PE Ratio - Diluted 22.2
21.4		 34.0
32.3		 30.7
30.7		 27.2
26.3		 35.9
34.2
PEG - Diluted 0.2
0.2		 3.8
2.3		 n/a
n/a		 3.4
4.4		 7.2
1.8
Tax Rate 20.24% 25.85% 25.18% 25.67% 23.66%
Dividend Cover 1.24
1.12		 1.11
0.83		 1.01
0.73		 1.08
0.83		 1.13
0.86
Interest Cover 17.92
18.38		 18.43
19.14		 19.45
19.45		 21.60
22.11		 29.29
30.37
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 86.60p
89.53p		 45.10p
47.58p		 0.42p
0.42p		 45.90p
47.46p		 10.62p
11.13p
Earnings per Share - Diluted 85.20p
88.17p		 45.00p
47.41p		 0.42p
0.42p		 45.70p
47.22p		 10.57p
11.09p
Earnings per Share - Adjusted 99.20p 63.20p 0.58p 61.80p 14.74p
Earnings per Share Growth - Basic 92%
88%		 10,666%
11,249%		 -99%
-99%		 332%
326%		 -74%
-70%
Earnings per Share Growth - Diluted 89%
86%		 10,668%
11,247%		 -99%
-99%		 332%
326%		 -74%
-70%
Earnings per Share Growth - Adjusted 57% 10,808% -99% 319% -72%
PE Ratio - Diluted 22.2
21.4		 34.0
32.3		 3,039.1
3,039.7		 27.2
26.3		 143.8
137.1
PEG - Diluted 0.2
0.2		 0.0
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a
Dividend Cover 1.24
1.12		 1.11
0.83		 0.01
0.01		 1.08
0.83		 0.28
0.21
Return on Equity (ROE) 29.54%
30.56%		 17.09%
18.02%		 0.15%
0.15%		 16.07%
16.61%		 3.67%
3.85%
Operating Cash Flow per Share 298.82p 65.26p 55.28p 49.89p 35.23p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 206.76p 6.75p (0.24p) 24.86p (1.27p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 80.00p 57.00p 57.00p 57.00p 52.00p
Dividend per Share Growth 40.35% n/a n/a 9.62% 30.00%
Dividend Yield 4.2% 3.7% 4.5% 4.6% 3.4%
Shareholders Funds 230.71 206.48 212.82 222.38 225.37
Net Borrowings £ (Millions) (103.42) 70.33 71.41 59.38 37.05
Net Asset Value per Share (inc. Intangibles) 106.86p 64.03p 59.76p 63.09p 59.46p

  £ (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 230.71 206.48 212.82 222.38 225.37
Net Borrowings £ (Millions) (103.42) 70.33 71.41 59.38 37.05
Net Gearing (44.83%) 34.06% 33.55% 26.70% 16.44%
Cash & Near Cash 193.80 29.65 25.06 43.61 24.17
Cash 84.00% 14.36% 11.78% 19.61% 10.72%
Gross Borrowings 90.38 99.98 96.47 102.99 61.21
Gross Gearing 39.18% 48.42% 45.33% 46.31% 27.16%
Borrowings Under 5 years 90.38 99.98 96.47 102.99 61.21
Under 5 years 39.18% 48.42% 45.33% 46.31% 27.16%
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 84.47 50.32 46.87 49.34 46.37
Net Borrowings £ (Millions) (103.42) 70.33 71.41 59.38 37.05
Net Gearing n/a 139.76% 152.36% 120.35% 79.90%
Cash & Near Cash 193.80 29.65 25.06 43.61 24.17
Cash 229.42% 58.91% 53.47% 88.39% 52.12%
Gross Borrowings 90.38 99.98 96.47 102.99 61.21
Gross Gearing 106.99% 198.67% 205.82% 208.74% 132.02%
Borrowings Under 5 years 90.38 99.98 96.47 102.99 61.21
Under 5 years 106.99% 198.67% 205.83% 208.74% 132.02%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio 1.19 1.50 1.43 1.49 1.30
Current Ratio 1.20 1.52 1.47 1.52 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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