Target Healthcare Reit Ltd (THRL)

Sector:

Investment Firms

Index:

FTSE 250

84.30p
   
  • Change Today:
      1.60p
  • 52 Week High: 88.00
  • 52 Week Low: 66.50
  • Currency: UK Pounds
  • Shares Issued: 602.24m
  • Volume: 987,373
  • Market Cap: £507.69m

Key Financials

  £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Jun-23 30-Jun-22 30-Jun-21
Annualisation Factor 1.0 1.0 1.0
Dividend Yield 9.0% 6.2% 5.8%
       
Continuing Operations      
PE Ratio - Adjusted 12.0 21.5 21.1
PE Ratio - Diluted 12.3
16.5		 22.0
16.1		 21.7
31.9
PEG - Adjusted 0.6 n/a n/a
PEG - Diluted 0.6
n/a		 n/a
0.2		 n/a
n/a
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a
Operating Margin 80.97%
63.03%		 72.47%
94.57%		 73.01%
74.58%
       
Continuing & Discontinued Operations      
PE Ratio - Adjusted 12.0 21.5 21.1
PE Ratio - Diluted 12.3
16.5		 22.0
16.1		 21.7
31.9
PEG - Adjusted 0.6 n/a n/a
PEG - Diluted 0.6
n/a		 n/a
0.2		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Jun-23 30-Jun-22 30-Jun-21
Net Gearing 32.33% 28.18% 18.90%

  £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Jun-23 30-Jun-22 30-Jun-21
Price/Book Value 0.7 0.9 1.0
Price/Tangible Book Value 0.7 0.9 1.0
Price/ Cash Flow 14.6 21.4 22.0
Price/Revenue 7.66 13.05 13.30
Price/R&D n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 108.73p 116.64p 118.88p
Net Cash per Share n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 30-Jun-23 30-Jun-22 30-Jun-21
Continuing Operations      
Revenue 56.44 49.77 41.24
EBITDA 45.70
35.57		 36.06
47.06		 30.11
30.76
Depreciation n/a
n/a		 n/a
n/a		 n/a
n/a
Net Interest (9.44)
(9.44)		 (6.60)
(6.60)		 (4.81)
(4.81)
Profit Before Tax 36.26
26.14		 29.47
40.46		 25.30
17.21
       
Revenue per Share 9.37p 8.31p 8.68p
Pre-Tax Profit per Share 6.02p
4.34p		 4.92p
6.75p		 5.32p
3.62p
Market Capitalisation £ (Millions) 432.41 652.83 590.32
Enterprise Value (EV) £ (Millions) 659.46 884.21 710.90
EBITDA/EV 6.93%
5.39%		 4.08%
5.32%		 4.24%
4.33%
Operating Margin 80.97%
63.03%		 72.47%
94.57%		 73.01%
74.58%
Capital Employed £ (Millions) 881.86 930.15 693.09
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a
Invested Equity Capital £ (Millions) 654.81 698.77 565.18
       
Earnings per Share - Basic 5.85p
4.34p		 4.92p
6.75p		 5.32p
3.62p
Earnings per Share - Diluted 5.85p
4.34p		 4.92p
6.75p		 5.32p
3.62p
Earnings per Share - Adjusted 6.00p 5.05p 5.46p
Earnings per Share Growth - Basic 19%
-36%		 -8%
86%		 n/a
n/a
Earnings per Share Growth - Diluted 19%
-36%		 -8%
86%		 n/a
n/a
Earnings per Share Growth - Adjusted 19% -8% n/a
PE Ratio - Diluted 12.3
16.5		 22.0
16.1		 21.7
31.9
PEG - Diluted 0.6
n/a		 n/a
0.2		 n/a
n/a
Tax Rate n/a 0.02% (0.03%)
Dividend Cover 0.93
0.67		 0.75
1.00		 0.81
0.54
Interest Cover 4.79
3.73		 5.42
7.07		 6.22
4.55
       
Continuing & Discontinued Operations      
Earnings per Share - Basic 5.85p
4.34p		 4.92p
6.75p		 5.32p
3.62p
Earnings per Share - Diluted 5.85p
4.34p		 4.92p
6.75p		 5.32p
3.62p
Earnings per Share - Adjusted 6.00p 5.05p 5.46p
Earnings per Share Growth - Basic 19%
-36%		 -8%
86%		 n/a
n/a
Earnings per Share Growth - Diluted 19%
-36%		 -8%
86%		 n/a
n/a
Earnings per Share Growth - Adjusted 19% -8% n/a
PE Ratio - Diluted 12.3
16.5		 22.0
16.1		 21.7
31.9
PEG - Diluted 0.6
n/a		 n/a
0.2		 n/a
n/a
Dividend Cover 0.93
0.67		 0.75
1.00		 0.81
0.54
Return on Equity (ROE) 5.54%
3.99%		 4.22%
5.79%		 4.48%
3.05%
Operating Cash Flow per Share 4.93p 5.07p 5.25p
Gross Cash Flow per Share cn/a cn/a cn/a
Cash Incr/Decr per Share (3.17p) 2.23p (3.23p)
Capital Expenditure per Share n/a n/a n/a
Dividend per Share 6.47p 6.75p 6.72p
Dividend per Share Growth (4.15%) 0.45% n/a
Dividend Yield 9.0% 6.2% 5.8%
Shareholders Funds 654.81 698.77 565.18
Net Borrowings £ (Millions) 211.68 196.90 106.80
Net Asset Value per Share (inc. Intangibles) 108.73p 116.64p 118.88p

  £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Jun-23 30-Jun-22 30-Jun-21
Shareholders' Funds inc Intangibles 654.81 698.77 565.18
Net Borrowings £ (Millions) 211.68 196.90 106.80
Net Gearing 32.33% 28.18% 18.90%
Cash & Near Cash 15.37 34.48 21.11
Cash 2.35% 4.93% 3.73%
Gross Borrowings 227.05 231.38 127.90
Gross Gearing 34.67% 33.11% 22.63%
Borrowings Under 5 years 227.05 231.38 127.90
Under 5 years 34.67% 33.11% 22.63%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 30-Jun-23 30-Jun-22 30-Jun-21
Shareholders' Funds exc Intangibles 654.81 698.77 565.18
Net Borrowings £ (Millions) 211.68 196.90 106.80
Net Gearing 32.33% 28.18% 18.90%
Cash & Near Cash 15.37 34.48 21.11
Cash 2.35% 4.93% 3.73%
Gross Borrowings 227.05 231.38 127.90
Gross Gearing 34.67% 33.11% 22.63%
Borrowings Under 5 years 227.05 231.38 127.90
Under 5 years 34.67% 33.11% 22.63%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Cover 30-Jun-23 30-Jun-22 30-Jun-21
Quick Ratio n/a n/a n/a
Current Ratio 1.36 1.52 1.76

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: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 3: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 4: Normalised ratios are shown in blue text

Note 5: Forecast figures based on normalised accounts.

 

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