Beazley (BEZ)

Sector:

Insurance

Index:

FTSE 100

656.50p
   
  • Change Today:
    -2.00p
  • 52 Week High: 689.00
  • 52 Week Low: 503.00
  • Currency: UK Pounds
  • Shares Issued: 667.20m
  • Volume: 150,549
  • Market Cap: £4,380.16m
  • RiskGrade: 236

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Annualisation Factor 1.0 n/a 1.0 1.0 1.0
Dividend Yield 2.4% 3.0% 0.0% 1.8% 2.4%
           
Continuing Operations          
PE Ratio - Adjusted 10.8 11.5 n/a 15.6 48.5
PE Ratio - Diluted 10.9
10.9		 11.6
11.6		 n/a
n/a		 15.8
15.8		 49.2
49.2
PEG - Adjusted 0.2 n/a n/a 0.1 n/a
PEG - Diluted 0.2
0.2		 n/a
n/a		 n/a
n/a		 0.1
0.1		 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 4.75%
4.75%		 8.84%
8.84%		 (0.29%)
(0.29%)		 8.91%
8.91%		 2.21%
2.21%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 10.8 1,135.5 n/a 15.6 48.5
PE Ratio - Diluted 10.9
32.8		 1,149.1
1,150.2		 n/a
n/a		 15.8
15.8		 49.2
49.2
PEG - Adjusted 0.0 n/a n/a 0.1 0.4
PEG - Diluted 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
0.1		 0.4
0.4

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Net Gearing (19.62%) 2.22% 18.74% 19.42% 1.39%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
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) 462.02p 331.24p 293.34p 286.25p 256.19p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Continuing Operations          
Revenue 4,848.40 46.62 3,563.80 3,003.90 2,615.30
EBITDA 246.00
246.00		 4.32
4.32		 (10.20)
(10.20)		 267.70
267.70		 72.40
72.40
Depreciation (15.60)
(15.60)		 (0.20)
(0.20)		 n/a
n/a		 n/a
n/a		 (14.70)
(14.70)
Net Interest (39.40)
(39.40)		 (0.39)
(0.39)		 (40.20)
(40.20)		 n/a
n/a		 18.70
18.70
Profit Before Tax 584.00
584.00		 3.73
3.73		 (50.40)
(50.40)		 267.70
267.70		 76.40
76.40
           
Revenue per Share 792.61p 7.69p 621.09p 572.06p 499.87p
Pre-Tax Profit per Share 95.47p
95.47p		 0.61p
0.61p		 (8.78p)
(8.78p)		 50.98p
50.98p		 14.60p
14.60p
Market Capitalisation £ (Millions) 4,560.80 2,840.70 2,220.05 3,385.72 2,657.47
Enterprise Value (EV) £ (Millions) 5,184.30 3,467.80 2,424.25 3,582.82 2,658.87
EBITDA/EV 4.75%
4.75%		 0.12%
0.12%		 (0.42%)
(0.42%)		 7.47%
7.47%		 2.72%
2.72%
Operating Margin 4.75%
4.75%		 8.84%
8.84%		 (0.29%)
(0.29%)		 8.91%
8.91%		 2.21%
2.21%
Capital Employed £ (Millions) 2,898.90 2,646.30 2,332.40 2,116.80 1,706.20
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) 2,955.00 2,130.80 1,810.10 1,644.80 1,476.00
           
Earnings per Share - Basic 79.00p
79.01p		 50.90¢
50.94¢		 (8.00¢)
(8.03¢)		 44.60¢
44.58¢		 13.00¢
13.04¢
Earnings per Share - Diluted 78.00p
77.99p		 50.30¢
50.25¢		 (8.00¢)
(8.03¢)		 44.00¢
43.97¢		 12.80¢
12.79¢
Earnings per Share - Adjusted 79.00p 50.90¢ (8.00)¢ 44.60¢ 13.00¢
Earnings per Share Growth - Basic 55%
55%		 n/a
n/a		 n/a
n/a		 243%
242%		 -48%
-48%
Earnings per Share Growth - Diluted 55%
55%		 n/a
n/a		 n/a
n/a		 244%
244%		 -48%
-48%
Earnings per Share Growth - Adjusted 55% n/a n/a 243% -48%
PE Ratio - Diluted 10.9
10.9		 11.6
11.6		 n/a
n/a		 15.8
15.8		 49.2
49.2
PEG - Diluted 0.2
0.2		 n/a
n/a		 n/a
n/a		 0.1
0.1		 n/a
n/a
Tax Rate 5.17% 16.39% 8.53% 12.55% 10.73%
Dividend Cover n/a
n/a		 2.93
2.93		 n/a
n/a		 3.63
3.62		 0.87
0.87
Interest Cover 15.82
15.82		 10.49
10.49		 (0.25)
(0.25)		 n/a
n/a		 4.41
4.41
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 79.00p
26.29p		 0.51¢
0.51¢		 (8.00¢)
(8.03¢)		 44.60¢
44.58¢		 13.00¢
13.04¢
Earnings per Share - Diluted 78.00p
25.95p		 0.51¢
0.51¢		 (8.00¢)
(8.03¢)		 44.00¢
43.97¢		 12.80¢
12.79¢
Earnings per Share - Adjusted 79.00p 0.51¢ (8.00¢) 44.60¢ 13.00¢
Earnings per Share Growth - Basic 15,276%
5,012%		 n/a
n/a		 n/a
n/a		 243%
242%		 108%
109%
Earnings per Share Growth - Diluted 15,262%
5,016%		 n/a
n/a		 n/a
n/a		 244%
244%		 110%
110%
Earnings per Share Growth - Adjusted 15,276% n/a n/a 243% 108%
PE Ratio - Diluted 10.9
32.8		 1,149.1
1,150.2		 n/a
n/a		 15.8
15.8		 49.2
49.2
PEG - Diluted 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.1
0.1		 0.4
0.4
Dividend Cover n/a
n/a		 0.03
0.03		 n/a
n/a		 3.63
3.62		 0.87
0.87
Return on Equity (ROE) 5.44%
5.44%		 0.15%
0.15%		 (2.55%)
(2.55%)		 14.23%
14.23%		 4.62%
4.62%
Operating Cash Flow per Share (21.11p) 192.99p 83.09p 87.64p 53.27p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (63.51p) 0.47p 7.44p (13.06p) (19.38p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 16.25p 17.39¢ n/a 12.30¢ 14.94¢
Dividend per Share Growth (6.52%) n/a n/a (17.67%) (0.38%)
Dividend Yield 2.4% 3.0% 0.0% 1.8% 2.4%
Shareholders Funds 2,955.00 2,130.80 1,809.50 1,625.30 1,466.90
Net Borrowings £ (Millions) (17.30) 47.20 339.10 315.70 20.40
Net Asset Value per Share (inc. Intangibles) 462.02p 331.24p 293.34p 286.25p 256.19p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds inc Intangibles 2,955.00 2,130.80 1,809.50 1,625.30 1,466.90
Net Borrowings £ (Millions) (17.30) 47.20 339.10 315.70 20.40
Net Gearing (19.62%) 2.22% 18.74% 19.42% 1.39%
Cash & Near Cash 652.50 591.80 309.50 278.50 336.30
Cash 22.08% 27.77% 17.10% 17.14% 22.93%
Gross Borrowings 635.20 639.00 648.60 594.20 356.70
Gross Gearing 2.46% 29.99% 35.84% 36.56% 24.32%
Borrowings Under 5 years 635.20 639.00 648.60 594.20 356.70
Under 5 years 21.50% 29.99% 35.84% 36.56% 24.32%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds exc Intangibles 2,826.20 2,007.30 1,683.20 1,503.10 1,340.40
Net Borrowings £ (Millions) (17.30) 47.20 339.10 315.70 20.40
Net Gearing (20.52%) 2.35% 20.15% 21.00% 1.52%
Cash & Near Cash 652.50 591.80 309.50 278.50 336.30
Cash 23.09% 29.48% 18.39% 18.53% 25.09%
Gross Borrowings 635.20 639.00 648.60 594.20 356.70
Gross Gearing 2.57% 31.83% 38.53% 39.53% 26.61%
Borrowings Under 5 years 635.20 639.00 648.60 594.20 356.70
Under 5 years 22.48% 31.83% 38.53% 39.53% 26.61%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Quick Ratio n/a n/a n/a n/a n/a
Current Ratio 77.23 29.00 n/a n/a n/a
Interest Cover 15.82
15.82		 10.49
10.49		 (0.25)
(0.25)		 n/a
n/a		 4.41
4.41

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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