Lancashire Holdings Limited (LRE)

Sector:

Insurance

Index:

FTSE 250

627.00p
   
  • Change Today:
      7.00p
  • 52 Week High: 689.00
  • 52 Week Low: 538.00
  • Currency: UK Pounds
  • Shares Issued: 244.01m
  • Volume: 138,786
  • Market Cap: £1,529.94m
  • RiskGrade: 167

Key Financials

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Growth Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 2.5% 1.8% 2.2% 1.6% 1.5%
           
Continuing Operations          
PE Ratio - Basic 5.9
5.9		 n/a
n/a		 n/a
n/a		 458.5
488.2		 16.5
16.6
PE Ratio - Diluted 5.9
6.0		 n/a
n/a		 n/a
n/a		 458.5
495.3		 16.8
16.8
PE Ratio - Adjusted 5.9 n/a n/a 458.5 16.5
PEG - Basic n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
PEG - Adjusted n/a n/a n/a n/a 0.1
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Operating Margin 21.89%
21.89%		 (1.41%)
(1.41%)		 (0.58%)
(0.58%)		 3.19%
3.19%		 13.82%
13.82%
           
Continuing & Discontinued Operations          
PE Ratio - Basic 5.9
5.9		 n/a
n/a		 n/a
n/a		 458.5
488.2		 16.5
16.6
PE Ratio - Diluted 5.9
6.0		 n/a
n/a		 n/a
n/a		 458.5
495.3		 16.8
16.8
PE Ratio - Adjusted 5.9 n/a n/a 458.5 16.5
PEG - Basic n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
PEG - Adjusted n/a n/a n/a n/a 0.1

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing (18.94%) (5.99%) (3.83%) (5.46%) 2.09%

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Value Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Price/Book Value n/a n/a n/a n/a n/a
Price/Tangible Book Value n/a n/a n/a n/a n/a
Price/ Cash Flow n/a n/a n/a n/a n/a
Price/Revenue n/a n/a n/a n/a n/a
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 555.58¢ 480.05¢ 517.60¢ 619.11¢ 516.65¢
Net Cash per Share n/a n/a n/a n/a n/a

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Annualised Fundamentals 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 1,519.90 1,226.50 12.37 814.10 706.70
Net Interest n/a
n/a		 n/a
n/a		 (0.46)
(0.46)		 (20.10)
(20.10)		 15.90
15.90
Profit Before Tax 332.70
332.70		 (17.30)
(17.30)		 (0.57)
(0.57)		 5.90
5.90		 119.50
119.50
           
Revenue per Share 636.44¢ 510.34¢ 5.10¢ 364.07¢ 351.17¢
Pre-Tax Profit per Share 139.31¢
139.31¢		 (7.20¢)
(7.20¢)		 (0.24¢)
(0.24¢)		 2.64¢
2.64¢		 59.38¢
59.38¢
Market Capitalisation $ (Millions) 1,522.62 1,586.07 1,293.25 1,765.41 1,556.56
Enterprise Value (EV) $ (Millions) 1,993.92 2,055.47 1,756.85 2,113.81 1,901.96
EBITDA/EV 16.69%
16.69%		 (0.84%)
(0.84%)		 n/a
n/a		 1.31%
1.31%		 5.34%
5.34%
Operating Margin 21.89%
21.89%		 (1.41%)
(1.41%)		 (0.58%)
(0.58%)		 3.19%
3.19%		 13.82%
13.82%
Capital Employed $ (Millions) 1,814.30 1,633.40 1,730.70 1,743.70 1,394.70
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Invested Equity Capital $ (Millions) 1,507.90 1,326.10 1,424.50 1,549.40 1,203.20
           
Earnings per Share - Basic 135.00¢
134.62¢		 (6.00¢)
(6.45¢)		 (26.00¢)
(25.41¢)		 2.00¢
1.88¢		 59.00¢
58.59¢
Earnings per Share - Diluted 135.00¢
131.76¢		 (6.00¢)
(6.37¢)		 (26.00¢)
(25.08¢)		 2.00¢
1.85¢		 58.00¢
57.83¢
Earnings per Share - Adjusted 135.00¢ (6.00)¢ (26.00)¢ 2.00¢ 59.00¢
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a		 -97%
-97%		 210%
214%
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 -97%
-97%		 205%
212%
Earnings per Share Growth - Adjusted n/a n/a n/a -97% 210%
PE Ratio - Diluted 5.9
6.0		 n/a
n/a		 n/a
n/a		 458.5
495.3		 16.8
16.8
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
Tax Rate 3.37% 10.40% (9.07%) 23.73% 1.14%
Dividend Cover 6.75
6.73		 (0.40)
(0.43)		 (1.73)
(1.69)		 0.13
0.13		 3.93
3.91
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 135.00¢
134.62¢		 (6.00¢)
(6.45¢)		 (0.26¢)
(0.26¢)		 2.00¢
1.88¢		 59.00¢
58.59¢
Earnings per Share - Diluted 135.00¢
131.76¢		 (6.00¢)
(6.37¢)		 (0.26¢)
(0.25¢)		 2.00¢
1.85¢		 58.00¢
57.83¢
Earnings per Share - Adjusted 135.00¢ (6.00¢) (0.26¢) 2.00¢ 59.00¢
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
n/a		 -97%
-97%		 210%
214%
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 -97%
-97%		 205%
212%
Earnings per Share Growth - Adjusted n/a n/a n/a -97% 210%
PE Ratio - Diluted 5.9
6.0		 n/a
n/a		 n/a
n/a		 458.5
495.3		 16.8
16.8
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.1
0.1
Dividend Cover 6.75
6.73		 (0.40)
(0.43)		 (0.02)
(0.02)		 0.13
0.13		 3.93
3.91
Return on Equity (ROE) 21.32%
21.32%		 (1.17%)
(1.17%)		 (0.04%)
(0.04%)		 0.27%
0.27%		 9.80%
9.80%
Operating Cash Flow per Share 185.04¢ 134.73¢ 100.56¢ 36.18¢ 17.14¢
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 84.67¢ 15.85¢ 0.37¢ 48.34¢ 81.64¢
Dividend per Share 20.00¢ 15.00¢ 15.00¢ 15.00¢ 15.00¢
Dividend per Share Growth 33.33% n/a n/a n/a n/a
Dividend Yield 2.5% 1.8% 2.2% 1.6% 1.5%
Shareholders Funds 1,507.90 1,326.10 1,412.30 1,538.50 1,193.60
Net Borrowings $ (Millions) (285.60) (79.40) (54.10) (84.00) 25.00
Net Asset Value per Share (inc. Intangibles) 555.58¢ 480.05¢ 517.39¢ 618.93¢ 516.35¢

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Gearing - inc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds inc Intangibles 1,507.90 1,326.10 1,412.30 1,538.50 1,193.60
Net Borrowings $ (Millions) (285.60) (79.40) (54.10) (84.00) 25.00
Net Gearing (18.94%) (5.99%) (3.83%) (5.46%) 2.09%
Cash & Near Cash 756.90 548.80 517.70 432.40 320.40
Cash 50.20% 41.38% 36.66% 28.11% 26.84%
Gross Borrowings 471.30 469.40 463.60 348.40 345.40
Gross Gearing 31.26% 35.40% 32.83% 22.65% 28.94%
Borrowings Under 5 years 471.30 469.40 463.60 348.40 345.40
Under 5 years 31.26% 35.40% 32.83% 22.65% 28.94%
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-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles 1,326.80 1,153.70 1,254.40 1,384.00 1,039.10
Net Borrowings $ (Millions) (285.60) (79.40) (54.10) (84.00) 25.00
Net Gearing (21.53%) (6.88%) (4.31%) (6.07%) 2.41%
Cash & Near Cash 756.90 548.80 517.70 432.40 320.40
Cash 57.05% 47.57% 41.27% 31.24% 30.83%
Gross Borrowings 471.30 469.40 463.60 348.40 345.40
Gross Gearing 35.52% 40.69% 36.96% 25.17% 33.24%
Borrowings Under 5 years 471.30 469.40 463.60 348.40 345.40
Under 5 years 35.52% 40.69% 36.96% 25.17% 33.24%
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

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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