Melrose Industries (MRO)

Sector:

Manufacturing

Index:

FTSE 100

601.20p
   
  • Change Today:
      5.60p
  • 52 Week High: 677.60
  • 52 Week Low: 446.80
  • Currency: UK Pounds
  • Shares Issued: 1,306.21m
  • Volume: 3,666,489
  • Market Cap: £7,853m
  • RiskGrade: 135

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 0.2
Dividend Yield 1.7% 0.4% 0.2% 0.3% 1.0%
           
Continuing Operations          
PE Ratio - Adjusted 32.8 154.7 n/a 45.3 34.8
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
389.2		 720.3
33.3		 n/a
n/a
PEG - Adjusted 0.1 n/a n/a 3.5 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
4.87%		 8.97%
32.14%		 n/a
2.43%
Operating Margin (7.99%)
(8.09%)		 (7.41%)
(1.76%)		 (6.83%)
1.98%		 0.97%
10.39%		 (5.16%)
3.08%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 32.8 15,330.1 n/a 45.3 139.4
PE Ratio - Diluted n/a
n/a		 2,684.9
n/a		 n/a
253.8		 n/a
33.3		 n/a
n/a
PEG - Adjusted 0.0 n/a n/a 0.1 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Net Gearing 21.14% 16.89% 47.10% 50.74% 41.24%

  £ (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 52.9 150.1 (11.2) (14.1) (6.2)
Price/Tangible Book Value 60.1 192.5 (11.0) (13.9) (6.1)
Price/ Cash Flow 83.4 85.6 30.6 42.0 47.0
Price/Revenue 5.76 335.52 3.27 2.87 8.60
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 7.63p 3.19p (42.98p) (45.97p) (71.66p)
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 2,954.00 67.13 7,132.00 10,967.00 2,036.61
EBITDA 655.00
652.00		 4.80
8.60		 (45.00)
(73.00)		 106.00
960.00		 99.93
233.34
Depreciation (891.00)
(891.00)		 (9.78)
(9.78)		 (442.00)
214.00		 n/a
179.00		 (205.11)
(170.63)
Net Interest (71.00)
(71.00)		 (1.69)
(1.69)		 (192.00)
(192.00)		 n/a
n/a		 (38.72)
(38.72)
Profit Before Tax (328.00)
(331.00)		 (6.66)
(6.69)		 (679.00)
(51.00)		 106.00
1,139.00		 (135.41)
32.48
           
Revenue per Share 70.03p 1.43p 146.81p 225.75p 51.44p
Pre-Tax Profit per Share (7.78p)
(7.85p)		 (0.14p)
(0.14p)		 (13.98p)
(1.05p)		 2.18p
23.45p		 (3.42p)
0.82p
Market Capitalisation £ (Millions) 16,359.61 20,974.54 23,355.33 31,494.61 21,492.68
Enterprise Value (EV) £ (Millions) 18,154.61 22,681.54 26,931.33 35,720.61 25,215.68
EBITDA/EV 3.61%
3.59%		 0.02%
0.04%		 (0.17%)
(0.27%)		 0.30%
2.69%		 0.40%
0.93%
Operating Margin (7.99%)
(8.09%)		 (7.41%)
(1.76%)		 (6.83%)
1.98%		 0.97%
10.39%		 (5.16%)
3.08%
Capital Employed £ (Millions) 3,133.00 2,913.00 2,896.00 3,544.00 2,929.00
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
4.87%		 8.97%
32.14%		 n/a
2.43%
Invested Equity Capital £ (Millions) 8,078.00 8,529.00 8,419.00 8,972.00 10,191.00
           
Earnings per Share - Basic (48.90p)
(5.62p)		 (10.30p)
(13.63p)		 (11.70p)
1.23p		 0.90p
19.47p		 (11.80p)
(0.96p)
Earnings per Share - Diluted (48.90p)
(5.62p)		 (10.30p)
(13.63p)		 (11.70p)
1.23p		 0.90p
19.47p		 (11.80p)
(0.96p)
Earnings per Share - Adjusted 12.30p 3.10p (0.60)p 14.30p 12.70p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
-94%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
-94%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 297% n/a n/a 13% -10%
PE Ratio - Diluted n/a
n/a		 n/a
n/a		 n/a
389.2		 720.3
33.3		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 25.61% 27.27% 16.79% 48.11% 13.02%
Dividend Cover 1.76
(0.81)		 1.77
(7.79)		 (0.80)
1.65		 8.41
11.45		 2.76
(0.21)
Interest Cover (2.15)
(2.18)		 (2.91)
(2.92)		 (2.48)
0.74		 n/a
n/a		 (2.39)
1.81
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (65.70p)
(5.48p)		 0.18p
(0.057p)		 (11.00p)
1.89p		 (1.20p)
19.47p		 (2.95p)
(0.24p)
Earnings per Share - Diluted (65.70p)
(5.48p)		 0.18p
(0.057p)		 (11.00p)
1.89p		 (1.20p)
19.47p		 (2.95p)
(0.24p)
Earnings per Share - Adjusted 12.30p 0.031p (0.60p) 14.30p 3.17p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
-90%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
-90%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 39,208% n/a n/a 351% -78%
PE Ratio - Diluted n/a
n/a		 2,684.9
n/a		 n/a
253.8		 n/a
33.3		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 1.76
(0.79)		 0.02
(0.03)		 (0.80)
2.53		 8.41
11.45		 0.69
(0.05)
Return on Equity (ROE) (3.81%)
(2.86%)		 0.10%
(0.03%)		 (6.37%)
1.09%		 (0.67%)
10.54%		 (1.16%)
(0.09%)
Operating Cash Flow per Share 4.84p 5.60p 15.73p 15.42p 9.42p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (4.81p) 0.066p (3.29p) (1.67p) 2.53p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 6.97p 1.75p 0.75p 1.70p 4.60p
Dividend per Share Growth 298.57% 133.33% (55.88%) (63.04%) (43.21%)
Dividend Yield 1.7% 0.4% 0.2% 0.3% 1.0%
Shareholders Funds 7,129.00 7,507.00 7,081.00 7,525.00 8,237.00
Net Borrowings £ (Millions) 1,507.00 1,268.00 3,335.00 3,818.00 3,397.00
Net Asset Value per Share (inc. Intangibles) 6.71p 2.49p (43.58p) (46.50p) (72.27p)

  £ (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 7,129.00 7,507.00 7,081.00 7,525.00 8,237.00
Net Borrowings £ (Millions) 1,507.00 1,268.00 3,335.00 3,818.00 3,397.00
Net Gearing 21.14% 16.89% 47.10% 50.74% 41.24%
Cash & Near Cash 355.00 473.00 311.00 512.00 415.00
Cash 4.98% 6.30% 4.39% 6.80% 5.04%
Gross Borrowings 1,862.00 1,741.00 3,646.00 4,330.00 3,812.00
Gross Gearing 26.12% 23.19% 51.49% 57.54% 46.28%
Borrowings Under 5 years 1,862.00 1,741.00 3,646.00 4,330.00 3,812.00
Under 5 years 26.12% 23.19% 51.49% 57.54% 46.28%
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 283.00 117.00 (2,117.00) (2,259.00) (2,861.00)
Net Borrowings £ (Millions) 1,507.00 1,268.00 3,335.00 3,818.00 3,397.00
Net Gearing 532.51% 1,083.76% n/a n/a n/a
Cash & Near Cash 355.00 473.00 311.00 512.00 415.00
Cash 125.44% 404.27% (14.69%) (22.66%) (14.51%)
Gross Borrowings 1,862.00 1,741.00 3,646.00 4,330.00 3,812.00
Gross Gearing 657.95% 1,488.03% 172.22% 191.68% 133.24%
Borrowings Under 5 years 1,862.00 1,741.00 3,646.00 4,330.00 3,812.00
Under 5 years 657.95% 1,488.03% (172.22%) (191.68%) (133.24%)
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

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Quick Ratio 0.62 0.54 0.61 0.74 0.77
Current Ratio 0.96 0.83 0.94 1.12 1.17

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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