£ (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 | 5.9% | 5.1% | 4.5% | 4.3% | 4.3% |
Continuing Operations | |||||
PE Ratio - Adjusted | 94.1 | 8.5 | 21.8 | 45.2 | 18.2 |
PE Ratio - Diluted | 94.1 94.3 |
8.5 8.5 |
21.8 21.8 |
45.2 45.1 |
18.2 18.1 |
PEG - Adjusted | n/a | 0.1 | 0.2 | n/a | n/a |
PEG - Diluted | n/a n/a |
0.1 0.1 |
0.2 0.2 |
n/a n/a |
n/a n/a |
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 | 53.35% 53.35% |
89.40% 89.40% |
81.96% 81.96% |
67.04% 67.04% |
84.64% 84.64% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | 94.1 | 8.5 | 2,155.2 | 45.2 | 18.2 |
PE Ratio - Diluted | 94.1 94.3 |
8.5 8.5 |
2,155.2 2,160.0 |
45.2 45.1 |
18.2 18.1 |
PEG - Adjusted | n/a | 0.0 | n/a | n/a | 0.0 |
PEG - Diluted | n/a n/a |
0.0 0.0 |
n/a n/a |
n/a n/a |
0.0 0.0 |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Net Gearing | (2.18%) | (2.09%) | 3.96% | (0.25%) | (0.73%) |
£ (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 | 0.9 | 0.9 | 1.1 | 1.1 | 1.0 |
Price/Tangible Book Value | 0.9 | 0.9 | 1.1 | 1.1 | 1.0 |
Price/ Cash Flow | 19.7 | 20.1 | 33.8 | 32.5 | 27.7 |
Price/Revenue | 39.75 | 7.55 | 1,724.95 | 28.46 | 14.86 |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | 152.58p | 165.08p | 152.26p | 147.75p | 160.96p |
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 | 66.07 | 369.57 | 1.63 | 96.29 | 168.72 |
EBITDA | 35.25 35.25 |
330.38 330.38 |
1.34 1.34 |
64.55 64.55 |
142.80 142.80 |
Depreciation | n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
n/a n/a |
Net Interest | (7.28) (7.28) |
(3.56) (3.56) |
(0.03) (0.03) |
(3.80) (3.80) |
(5.05) (5.05) |
Profit Before Tax | 27.97 27.97 |
326.83 326.83 |
1.30 1.30 |
60.76 60.76 |
137.75 137.75 |
Revenue per Share | 3.46p | 20.07p | 0.098p | 5.97p | 11.20p |
Pre-Tax Profit per Share | 1.46p 1.46p |
17.75p 17.75p |
0.079p 0.079p |
3.77p 3.77p |
9.14p 9.14p |
Market Capitalisation £ (Millions) | 2,626.05 | 2,897.44 | 2,893.99 | 2,752.79 | 2,680.89 |
Enterprise Value (EV) £ (Millions) | 2,689.62 | 2,926.74 | 3,047.50 | 2,790.92 | 2,673.44 |
EBITDA/EV | 1.31% 1.31% |
11.29% 11.29% |
0.04% 0.04% |
2.31% 2.31% |
5.34% 5.34% |
Operating Margin | 53.35% 53.35% |
89.40% 89.40% |
81.96% 81.96% |
67.04% 67.04% |
84.64% 84.64% |
Capital Employed £ (Millions) | 2,981.14 | 3,069.14 | 2,685.02 | 2,422.84 | 2,453.10 |
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) | 2,916.14 | 3,039.84 | 2,528.80 | 2,384.44 | 2,425.24 |
Earnings per Share - Basic | 1.46p 1.46p |
17.75p 17.75p |
7.80p 7.78p |
3.76p 3.76p |
9.15p 9.17p |
Earnings per Share - Diluted | 1.46p 1.46p |
17.75p 17.75p |
7.80p 7.78p |
3.76p 3.76p |
9.15p 9.17p |
Earnings per Share - Adjusted | 1.46p | 17.75p | 7.80p | 3.76p | 9.15p |
Earnings per Share Growth - Basic | -92% -92% |
128% 128% |
107% 107% |
-59% -59% |
-6% -6% |
Earnings per Share Growth - Diluted | -92% -92% |
128% 128% |
107% 107% |
-59% -59% |
-6% -6% |
Earnings per Share Growth - Adjusted | -92% | 128% | 107% | -59% | -6% |
PE Ratio - Diluted | 94.1 94.3 |
8.5 8.5 |
21.8 21.8 |
45.2 45.1 |
18.2 18.1 |
PEG - Diluted | n/a n/a |
0.1 0.1 |
0.2 0.2 |
n/a n/a |
n/a n/a |
Tax Rate | 0.37% | (0.02%) | (0.03%) | 0.07% | (0.30%) |
Dividend Cover | 0.18 0.18 |
2.29 2.29 |
1.03 1.03 |
0.51 0.51 |
1.28 1.28 |
Interest Cover | 4.84 4.84 |
92.91 92.91 |
38.41 38.41 |
17.00 17.00 |
28.26 28.26 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | 1.46p 1.46p |
17.75p 17.75p |
0.079p 0.079p |
3.76p 3.76p |
9.15p 9.17p |
Earnings per Share - Diluted | 1.46p 1.46p |
17.75p 17.75p |
0.079p 0.079p |
3.76p 3.76p |
9.15p 9.17p |
Earnings per Share - Adjusted | 1.46p | 17.75p | 0.079p | 3.76p | 9.15p |
Earnings per Share Growth - Basic | -92% -92% |
22,453% 22,506% |
-98% -98% |
-59% -59% |
559% 559% |
Earnings per Share Growth - Diluted | -92% -92% |
22,453% 22,506% |
-98% -98% |
-59% -59% |
559% 559% |
Earnings per Share Growth - Adjusted | -92% | 22,453% | -98% | -59% | 559% |
PE Ratio - Diluted | 94.1 94.3 |
8.5 8.5 |
2,155.2 2,160.0 |
45.2 45.1 |
18.2 18.1 |
PEG - Diluted | n/a n/a |
0.0 0.0 |
n/a n/a |
n/a n/a |
0.0 0.0 |
Dividend Cover | 0.18 0.18 |
2.29 2.29 |
0.01 0.01 |
0.51 0.51 |
1.28 1.28 |
Return on Equity (ROE) | 0.96% 0.96% |
10.75% 10.75% |
0.05% 0.05% |
2.55% 2.55% |
5.70% 5.70% |
Operating Cash Flow per Share | 6.97p | 7.53p | 5.01p | 5.22p | 6.00p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | 1.88p | 1.92p | 0.007p | (0.090p) | (2.60p) |
Capital Expenditure per Share | n/a | n/a | n/a | n/a | n/a |
Dividend per Share | 8.13p | 7.74p | 7.57p | 7.36p | 7.16p |
Dividend per Share Growth | 5.04% | 2.29% | 2.81% | 2.73% | 2.57% |
Dividend Yield | 5.9% | 5.1% | 4.5% | 4.3% | 4.3% |
Shareholders Funds | 2,916.14 | 3,039.84 | 2,528.80 | 2,384.44 | 2,425.24 |
Net Borrowings £ (Millions) | (63.56) | (63.53) | 100.13 | (5.86) | (17.75) |
Net Asset Value per Share (inc. Intangibles) | 152.58p | 165.08p | 152.26p | 147.75p | 160.96p |
£ (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 | 2,916.14 | 3,039.84 | 2,528.80 | 2,384.44 | 2,425.24 |
Net Borrowings £ (Millions) | (63.56) | (63.53) | 100.13 | (5.86) | (17.75) |
Net Gearing | (2.18%) | (2.09%) | 3.96% | (0.25%) | (0.73%) |
Cash & Near Cash | 128.56 | 92.83 | 56.09 | 44.26 | 45.61 |
Cash | 4.41% | 3.05% | 2.22% | 1.86% | 1.88% |
Gross Borrowings | 65.00 | 29.30 | 156.22 | 38.40 | 27.86 |
Gross Gearing | 2.23% | 0.96% | 6.18% | 1.61% | 1.15% |
Borrowings Under 5 years | 65.00 | 29.30 | 156.22 | 38.40 | 27.86 |
Under 5 years | 2.23% | 0.96% | 6.18% | 1.61% | 1.15% |
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 | 2,916.14 | 3,039.84 | 2,528.80 | 2,384.44 | 2,425.24 |
Net Borrowings £ (Millions) | (63.56) | (63.53) | 100.13 | (5.86) | (17.75) |
Net Gearing | (2.18%) | (2.09%) | 3.96% | (0.25%) | (0.73%) |
Cash & Near Cash | 128.56 | 92.83 | 56.09 | 44.26 | 45.61 |
Cash | 4.41% | 3.05% | 2.22% | 1.86% | 1.88% |
Gross Borrowings | 65.00 | 29.30 | 156.22 | 38.40 | 27.86 |
Gross Gearing | 2.23% | 0.96% | 6.18% | 1.61% | 1.15% |
Borrowings Under 5 years | 65.00 | 29.30 | 156.22 | 38.40 | 27.86 |
Under 5 years | 2.23% | 0.96% | 6.18% | 1.61% | 1.15% |
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-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Quick Ratio | n/a | n/a | n/a | n/a | n/a |
Current Ratio | 15.69 | 8.70 | 10.96 | 1.82 | 7.73 |
Interest Cover | 4.84 4.84 |
92.91 92.91 |
38.41 38.41 |
17.00 17.00 |
28.26 28.26 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
You are here: research