Frasers Group (FRAS)

Sector:

Retailers

Index:

FTSE 100

835.50p
   
  • Change Today:
      12.50p
  • 52 Week High: 938.00
  • 52 Week Low: 672.00
  • Currency: UK Pounds
  • Shares Issued: 450.32m
  • Volume: 217,751
  • Market Cap: £3,762.39m
  • RiskGrade: 211

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 0.0% 0.0% 0.0% 0.0% 0.0%
           
Continuing Operations          
PE Ratio - Adjusted 10.8 12.8 n/a 14.0 17.3
PE Ratio - Diluted 7.7
9.2		 14.5
13.2		 n/a
n/a		 12.2
12.9		 14.1
16.1
PEG - Adjusted 0.3 n/a n/a n/a n/a
PEG - Diluted 0.1
0.2		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.0
n/a
Return on Capital Employed 19.50%
17.19%		 10.46%
11.16%		 0.01%
n/a		 5.84%
4.04%		 6.34%
5.77%
Operating Margin 12.08%
10.65%		 6.96%
7.30%		 0.65%
(0.73%)		 3.60%
3.48%		 4.10%
3.73%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 10.8 12.8 n/a 14.0 17.3
PE Ratio - Diluted 7.2
8.6		 13.0
12.0		 n/a
n/a		 12.2
12.9		 14.1
16.1
PEG - Adjusted 0.3 n/a n/a n/a 0.1
PEG - Diluted 0.1
0.2		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.0
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Net Gearing 67.77% 86.41% 81.45% 78.13% 30.36%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Price/Book Value 2.2 2.7 2.4 1.0 1.4
Price/Tangible Book Value 2.2 2.8 2.4 1.0 1.4
Price/ Cash Flow 6.5 5.2 5.0 3.0 5.8
Price/Revenue 0.65 0.70 73.09 0.29 0.43
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 355.31p 251.71p 217.25p 224.76p 211.64p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 30-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Continuing Operations          
Revenue 5,441.30 4,672.90 35.40 3,957.40 3,701.90
EBITDA 936.60
858.80		 585.30
601.20		 3.33
2.84		 418.70
414.10		 151.90
138.10
Depreciation (279.40)
(279.40)		 (260.00)
(260.00)		 (3.10)
(3.10)		 (276.20)
(276.20)		 n/a
n/a
Net Interest (22.90)
(22.90)		 (18.60)
(18.60)		 (0.24)
(0.24)		 16.90
16.90		 27.30
27.30
Profit Before Tax 634.30
556.50		 306.70
328.40		 (0.01)
(0.50)		 143.50
138.90		 179.20
165.40
           
Revenue per Share 1,183.12p 990.07p 7.05p 782.36p 712.63p
Pre-Tax Profit per Share 137.92p
121.00p		 64.98p
69.58p		 n/a
(0.100p)		 28.37p
27.46p		 34.50p
31.84p
Market Capitalisation £ (Millions) 7,681.16 6,896.55 3,302.31 1,451.60 1,948.71
Enterprise Value (EV) £ (Millions) 9,031.46 8,228.55 4,675.51 2,897.60 2,603.01
EBITDA/EV 10.37%
9.51%		 7.11%
7.31%		 0.07%
0.06%		 14.45%
14.29%		 5.84%
5.31%
Operating Margin 12.08%
10.65%		 6.96%
7.30%		 0.65%
(0.73%)		 3.60%
3.48%		 4.10%
3.73%
Capital Employed £ (Millions) 3,369.60 3,109.90 2,907.30 3,022.60 2,395.40
Return on Capital Employed 19.50%
17.19%		 10.46%
11.16%		 0.01%
n/a		 5.84%
4.04%		 6.34%
5.77%
Invested Equity Capital £ (Millions) 1,924.10 1,760.00 1,581.10 1,628.90 1,716.10
           
Earnings per Share - Basic 100.40p
83.47p		 47.50p
52.08p		 (18.20p)
(27.89p)		 18.50p
17.63p		 21.60p
18.90p
Earnings per Share - Diluted 100.40p
83.47p		 47.50p
52.08p		 (18.20p)
(27.89p)		 18.50p
17.59p		 21.50p
18.86p
Earnings per Share - Adjusted 70.90p 53.90p (27.30)p 16.20p 17.60p
Earnings per Share Growth - Basic 111%
60%		 n/a
n/a		 n/a
n/a		 -14%
-7%		 468%
n/a
Earnings per Share Growth - Diluted 111%
60%		 n/a
n/a		 n/a
n/a		 -14%
-7%		 466%
n/a
Earnings per Share Growth - Adjusted 32% n/a n/a -8% -8%
PE Ratio - Diluted 7.7
9.2		 14.5
13.2		 n/a
n/a		 12.2
12.9		 14.1
16.1
PEG - Diluted 0.1
0.2		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.0
n/a
Tax Rate 25.11% 24.62% (7,116.67%) 26.66% 35.27%
Dividend Cover n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Interest Cover 10.19
9.07		 7.27
7.72		 0.96
(0.51)		 5.90
5.74		 7.47
6.97
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 106.10p
89.19p		 52.90p
57.52p		 (0.17p)
(0.26p)		 18.50p
17.63p		 21.60p
18.90p
Earnings per Share - Diluted 106.10p
89.19p		 52.90p
57.52p		 (0.17p)
(0.26p)		 18.50p
17.59p		 21.50p
18.86p
Earnings per Share - Adjusted 70.90p 53.90p (0.28p) 16.20p 17.60p
Earnings per Share Growth - Basic 101%
55%		 n/a
n/a		 n/a
n/a		 -14%
-7%		 1,612%
n/a
Earnings per Share Growth - Diluted 101%
55%		 n/a
n/a		 n/a
n/a		 -14%
-7%		 1,604%
n/a
Earnings per Share Growth - Adjusted 32% n/a n/a -8% 177%
PE Ratio - Diluted 7.2
8.6		 13.0
12.0		 n/a
n/a		 12.2
12.9		 14.1
16.1
PEG - Diluted 0.1
0.2		 n/a
n/a		 n/a
n/a		 n/a
n/a		 0.0
n/a
Dividend Cover n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Equity (ROE) 25.36%
21.32%		 14.19%
15.43%		 (0.05%)
(0.08%)		 5.76%
5.48%		 6.53%
5.72%
Operating Cash Flow per Share 117.78p 131.53p 103.40p 74.47p 52.61p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (1.63p) (25.49p) (0.14p) 16.01p 16.34p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share n/a n/a n/a n/a n/a
Dividend per Share Growth n/a n/a n/a n/a n/a
Dividend Yield 0.0% 0.0% 0.0% 0.0% 0.0%
Shareholders Funds 1,618.20 1,286.60 1,192.90 1,267.30 1,246.60
Net Borrowings £ (Millions) 1,096.70 1,111.70 971.60 990.10 378.50
Net Asset Value per Share (inc. Intangibles) 346.61p 247.05p 213.65p 222.19p 210.52p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Shareholders' Funds inc Intangibles 1,618.20 1,286.60 1,192.90 1,267.30 1,246.60
Net Borrowings £ (Millions) 1,096.70 1,111.70 971.60 990.10 378.50
Net Gearing 67.77% 86.41% 81.45% 78.13% 30.36%
Cash & Near Cash 332.90 336.80 457.00 534.00 448.00
Cash 20.57% 26.18% 38.31% 42.14% 35.94%
Gross Borrowings 1,429.60 1,448.50 1,428.60 1,524.10 826.50
Gross Gearing 88.35% 112.58% 119.76% 120.26% 66.30%
Borrowings Under 5 years 1,429.60 1,448.50 1,428.60 1,524.10 826.50
Under 5 years 88.35% 112.58% 119.76% 120.26% 66.30%
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-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Shareholders' Funds exc Intangibles 1,594.10 1,166.00 1,072.40 1,123.90 1,093.60
Net Borrowings £ (Millions) 1,096.70 1,111.70 971.60 990.10 378.50
Net Gearing 68.80% 95.34% 90.60% 88.10% 34.61%
Cash & Near Cash 332.90 336.80 457.00 534.00 448.00
Cash 20.88% 28.89% 42.61% 47.51% 40.97%
Gross Borrowings 1,429.60 1,448.50 1,428.60 1,524.10 826.50
Gross Gearing 89.68% 124.23% 133.22% 135.61% 75.58%
Borrowings Under 5 years 1,429.60 1,448.50 1,428.60 1,524.10 826.50
Under 5 years 89.68% 124.23% 133.22% 135.61% 75.58%
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-Apr-23 24-Apr-22 25-Apr-21 26-Apr-20 28-Apr-19
Quick Ratio 1.11 1.29 1.12 1.21 1.76
Current Ratio 2.55 2.56 2.28 2.62 3.39

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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