Halfords Group (HFD)

Sector:

Retailers

Index:

FTSE Small Cap

139.20p
   
  • Change Today:
    -3.00p
  • 52 Week High: 234.00
  • 52 Week Low: 138.90
  • Currency: UK Pounds
  • Shares Issued: 218.93m
  • Volume: 547,936
  • Market Cap: £304.75m
  • RiskGrade: 239

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Annualisation Factor 1.0 1.0 1.0 1.0 1.0
Dividend Yield 3.6% 3.1% 5.3% 7.1% 6.3%
           
Continuing Operations          
PE Ratio - Adjusted 13.4 16.0 11.6 9.2 8.1
PE Ratio - Diluted 13.7
13.3		 16.4
15.6		 12.0
11.4		 9.1
9.2		 8.7
8.2
PEG - Adjusted 0.7 4.0 n/a n/a 0.9
PEG - Diluted 0.8
0.8		 3.3
3.1		 n/a
n/a		 n/a
n/a		 0.9
0.9
Return on Capital Employed 84.51%
86.45%		 79.10%
81.75%		 97.35%
100.51%		 100.10%
99.39%		 134.90%
143.40%
Operating Margin 8.51%
8.71%		 8.26%
8.53%		 8.85%
9.14%		 11.48%
11.40%		 13.87%
14.74%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 13.4 16.0 11.6 9.2 8.1
PE Ratio - Diluted 13.7
13.3		 16.4
15.6		 12.0
11.4		 9.1
9.1		 8.7
8.2
PEG - Adjusted 0.7 4.0 n/a n/a 0.9
PEG - Diluted 0.8
0.8		 3.3
3.1		 n/a
n/a		 n/a
n/a		 0.9
0.9

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Net Gearing 16.81% 30.54% 37.03% 48.48% 32.01%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Price/Book Value 81.4 (55.6) (14.4) (10.9) (30.4)
Price/Tangible Book Value 81.4 (55.6) (14.4) (10.9) (30.4)
Price/ Cash Flow 7.4 13.3 6.7 6.9 6.2
Price/Revenue 0.87 0.95 0.72 0.72 0.85
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 5.61p (8.30p) (22.39p) (28.41p) (11.55p)
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Continuing Operations          
Revenue 1,025.40 939.70 871.30 863.10 869.70
EBITDA 113.70
115.00		 101.30
103.50		 103.20
104.90		 125.10
124.40		 145.60
153.20
Depreciation (26.40)
(25.70)		 (23.70)
(23.30)		 (26.10)
(25.30)		 (26.00)
(26.00)		 (25.00)
(25.00)
Net Interest (3.50)
(3.50)		 (5.00)
(5.00)		 (6.10)
(6.10)		 (5.00)
(5.00)		 (2.50)
(2.50)
Profit Before Tax 83.80
85.80		 72.60
75.20		 71.00
73.50		 94.10
93.40		 118.10
125.70
           
Revenue per Share 528.01p 484.38p 448.43p 431.77p 413.36p
Pre-Tax Profit per Share 43.15p
44.18p		 37.42p
38.76p		 36.54p
37.83p		 47.07p
46.72p		 56.13p
59.74p
Market Capitalisation £ (Millions) 888.23 894.75 627.37 603.97 743.65
Enterprise Value (EV) £ (Millions) 968.53 999.65 743.97 756.27 849.25
EBITDA/EV 11.74%
11.87%		 10.13%
10.35%		 13.87%
14.10%		 16.54%
16.45%		 17.14%
18.04%
Operating Margin 8.51%
8.71%		 8.26%
8.53%		 8.85%
9.14%		 11.48%
11.40%		 13.87%
14.74%
Capital Employed £ (Millions) 103.30 98.10 79.20 99.00 89.40
Return on Capital Employed 84.51%
86.45%		 79.10%
81.75%		 97.35%
100.51%		 100.10%
99.39%		 134.90%
143.40%
Invested Equity Capital £ (Millions) 375.90 335.40 302.90 290.30 330.20
           
Earnings per Share - Basic 33.80p
34.96p		 28.60p
30.00p		 27.20p
28.41p		 34.20p
33.87p		 40.70p
43.25p
Earnings per Share - Diluted 33.30p
34.40p		 28.20p
29.56p		 26.90p
28.19p		 34.00p
33.70p		 40.20p
42.76p
Earnings per Share - Adjusted 34.10p 28.80p 27.70p 33.70p 43.20p
Earnings per Share Growth - Basic 18%
16%		 5%
6%		 -20%
-16%		 -16%
-22%		 11%
9%
Earnings per Share Growth - Diluted 18%
16%		 5%
5%		 -21%
-16%		 -15%
-21%		 10%
9%
Earnings per Share Growth - Adjusted 18% 4% -18% -22% 9%
PE Ratio - Diluted 13.7
13.3		 16.4
15.6		 12.0
11.4		 9.1
9.2		 8.7
8.2
PEG - Diluted 0.8
0.8		 3.3
3.1		 n/a
n/a		 n/a
n/a		 0.9
0.9
Tax Rate 21.48% 23.55% 25.77% 27.31% 27.60%
Dividend Cover 2.07
2.12		 2.01
2.10		 1.62
1.66		 1.53
1.54		 1.96
1.97
Interest Cover 24.28
24.83		 14.96
15.46		 12.27
12.67		 18.11
17.98		 28.47
30.23
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 33.80p
34.96p		 28.60p
30.00p		 27.20p
28.41p		 34.20p
34.32p		 40.70p
43.25p
Earnings per Share - Diluted 33.30p
34.40p		 28.20p
29.56p		 26.90p
28.19p		 34.00p
34.15p		 40.20p
42.76p
Earnings per Share - Adjusted 34.10p 28.80p 27.70p 33.70p 43.20p
Earnings per Share Growth - Basic 18%
16%		 5%
6%		 -20%
-17%		 -16%
-21%		 11%
9%
Earnings per Share Growth - Diluted 18%
16%		 5%
5%		 -21%
-17%		 -15%
-20%		 10%
9%
Earnings per Share Growth - Adjusted 18% 4% -18% -22% 9%
PE Ratio - Diluted 13.7
13.3		 16.4
15.6		 12.0
11.4		 9.1
9.1		 8.7
8.2
PEG - Diluted 0.8
0.8		 3.3
3.1		 n/a
n/a		 n/a
n/a		 0.9
0.9
Dividend Cover 2.07
2.12		 2.01
2.10		 1.62
1.66		 1.53
1.56		 1.96
1.97
Return on Equity (ROE) 17.50%
18.06%		 16.55%
17.35%		 17.40%
18.22%		 23.56%
23.63%		 25.89%
27.56%
Operating Cash Flow per Share 61.90p 34.79p 48.12p 44.87p 56.27p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 2.47p (4.43p) (3.60p) 7.75p (19.53p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 16.50p 14.30p 17.10p 22.00p 22.00p
Dividend per Share Growth 15.38% (16.37%) (22.27%) n/a 10.00%
Dividend Yield 3.6% 3.1% 5.3% 7.1% 6.3%
Shareholders Funds 367.70 326.10 298.70 287.10 322.40
Net Borrowings £ (Millions) 61.80 99.60 110.60 139.20 103.20
Net Asset Value per Share (inc. Intangibles) 5.61p (8.30p) (22.39p) (28.41p) (11.55p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Shareholders' Funds inc Intangibles 367.70 326.10 298.70 287.10 322.40
Net Borrowings £ (Millions) 61.80 99.60 110.60 139.20 103.20
Net Gearing 16.81% 30.54% 37.03% 48.48% 32.01%
Cash & Near Cash 22.40 5.30 7.90 13.40 2.70
Cash 6.09% 1.63% 2.64% 4.67% 0.84%
Gross Borrowings 84.20 104.90 118.50 152.60 105.90
Gross Gearing 22.90% 32.17% 39.67% 53.15% 32.85%
Borrowings Under 5 years 84.20 104.90 118.50 152.60 105.90
Under 5 years 22.90% 32.17% 39.67% 53.15% 32.85%
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 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Shareholders' Funds exc Intangibles 10.90 (16.10) (43.50) (56.80) (24.30)
Net Borrowings £ (Millions) 61.80 99.60 110.60 139.20 103.20
Net Gearing 566.97% n/a n/a n/a n/a
Cash & Near Cash 22.40 5.30 7.90 13.40 2.70
Cash 205.50% (32.92%) (18.16%) (23.59%) (11.11%)
Gross Borrowings 84.20 104.90 118.50 152.60 105.90
Gross Gearing 772.48% 651.55% 272.41% 268.66% 435.80%
Borrowings Under 5 years 84.20 104.90 118.50 152.60 105.90
Under 5 years 772.48% (651.55%) (272.41%) (268.66%) (435.80%)
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 03-Apr-15 28-Mar-14 29-Mar-13 30-Mar-12 01-Apr-11
Quick Ratio 0.36 0.30 0.35 0.33 0.24
Current Ratio 1.02 1.09 1.07 1.15 1.04

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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