£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Growth Metrics | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Annualisation Factor | 1.0 | 1.0 | n/a | 1.0 | 1.0 |
Dividend Yield | 5.2% | 4.8% | 2.8% | 3.0% | 2.1% |
Continuing Operations | |||||
PE Ratio - Adjusted | 73.1 | 13.2 | 21.0 | n/a | 21.2 |
PE Ratio - Diluted | 74.6 74.6 |
13.4 13.4 |
21.3 21.3 |
n/a 20.5 |
21.4 57.3 |
PEG - Adjusted | n/a | 0.8 | n/a | n/a | n/a |
PEG - Diluted | n/a n/a |
0.8 0.8 |
n/a 0.6 |
n/a 0.2 |
n/a n/a |
Return on Capital Employed | n/a n/a |
n/a n/a |
0.28% 0.45% |
n/a 7.01% |
9.77% 9.77% |
Operating Margin | 2.33% 2.33% |
8.04% 8.04% |
8.91% 8.91% |
(20.21%) 8.60% |
9.28% 9.28% |
Continuing & Discontinued Operations | |||||
PE Ratio - Adjusted | 73.1 | 13.2 | 2,076.9 | n/a | 21.5 |
PE Ratio - Diluted | 74.6 74.6 |
13.4 13.4 |
2,112.5 2,113.6 |
n/a 19.9 |
21.5 54.8 |
PEG - Adjusted | n/a | 0.0 | n/a | n/a | n/a |
PEG - Diluted | n/a n/a |
0.0 0.0 |
n/a n/a |
n/a 0.2 |
n/a n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Net Gearing | 26.17% | 24.13% | 81.38% | 60.27% | 47.10% |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Value Metrics | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Price/Book Value | (1.5) | (1.6) | (2.7) | (2.6) | (4.2) |
Price/Tangible Book Value | (1.4) | (1.4) | (2.5) | (2.4) | (3.8) |
Price/ Cash Flow | 6.5 | 12.8 | 6.6 | 4.8 | 7.2 |
Price/Revenue | 0.54 | 0.62 | 103.46 | 0.82 | 1.01 |
Price/R&D | n/a | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | (504.25p) | (523.26p) | (410.58p) | (304.82p) | (253.09p) |
Net Cash per Share | n/a | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Annualised Fundamentals | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Continuing Operations | |||||
Revenue | 14,844.80 | 14,428.70 | 129.21 | 12,002.80 | 13,234.10 |
EBITDA | 346.30 346.30 |
1,159.80 1,159.80 |
15.01 15.01 |
(1,794.30) 1,663.60 |
1,227.50 1,227.50 |
Depreciation | n/a n/a |
n/a n/a |
(3.49) (3.49) |
(631.00) (631.00) |
n/a n/a |
Net Interest | n/a n/a |
n/a n/a |
(2.16) (2.16) |
(229.30) (229.30) |
(260.10) (260.10) |
Profit Before Tax | 346.30 346.30 |
1,159.80 1,159.80 |
9.60 9.60 |
(2,790.60) 667.30 |
982.10 982.10 |
Revenue per Share | 1,384.65p | 1,314.21p | 10.82p | 981.42p | 1,058.73p |
Pre-Tax Profit per Share | 32.30p 32.30p |
105.64p 105.64p |
0.80p 0.80p |
(228.18p) 54.56p |
78.57p 78.57p |
Market Capitalisation £ (Millions) | 8,594.95 | 9,362.69 | 13,707.82 | 10,368.64 | 14,164.91 |
Enterprise Value (EV) £ (Millions) | 11,580.85 | 12,635.19 | 20,443.22 | 26,009.34 | 20,923.21 |
EBITDA/EV | 2.99% 2.99% |
9.18% 9.18% |
0.07% 0.07% |
(6.90%) 6.40% |
5.87% 5.87% |
Operating Margin | 2.33% 2.33% |
8.04% 8.04% |
8.91% 8.91% |
(20.21%) 8.60% |
9.28% 9.28% |
Capital Employed £ (Millions) | (1,822.30) | (1,769.90) | 2,640.60 | 12,790.10 | 12,718.00 |
Return on Capital Employed | n/a n/a |
n/a n/a |
0.28% 0.45% |
n/a 7.01% |
9.77% 9.77% |
Invested Equity Capital £ (Millions) | 3,858.60 | 4,276.20 | 4,334.00 | 5,499.10 | 8,831.00 |
Earnings per Share - Basic | 10.30p 10.30p |
62.20p 62.18p |
53.40p 53.40p |
(243.20p) 38.95p |
50.20p 18.76p |
Earnings per Share - Diluted | 10.10p 10.09p |
61.20p 61.15p |
52.50p 52.47p |
(243.20p) 38.95p |
49.80p 18.60p |
Earnings per Share - Adjusted | 10.30p | 62.20p | 53.40p | (243.20)p | 50.20p |
Earnings per Share Growth - Basic | -83% -83% |
16% 16% |
n/a 37% |
n/a 108% |
-33% -62% |
Earnings per Share Growth - Diluted | -84% -84% |
17% 16% |
n/a 35% |
n/a 109% |
-33% -62% |
Earnings per Share Growth - Adjusted | -83% | 16% | n/a | n/a | -46% |
PE Ratio - Diluted | 74.6 74.6 |
13.4 13.4 |
21.3 21.3 |
n/a 20.5 |
21.4 57.3 |
PEG - Diluted | n/a n/a |
0.8 0.8 |
n/a 0.6 |
n/a 0.2 |
n/a n/a |
Tax Rate | 43.06% | 33.14% | 24.82% | (4.26%) | 28.43% |
Dividend Cover | 0.26 0.26 |
1.58 1.58 |
1.71 1.71 |
(10.13) 1.62 |
2.21 0.83 |
Interest Cover | n/a n/a |
n/a n/a |
4.35 4.35 |
(7.94) 3.14 |
3.73 3.73 |
Continuing & Discontinued Operations | |||||
Earnings per Share - Basic | 10.30p 10.30p |
62.20p 62.18p |
0.54p 0.54p |
(242.70p) 40.29p |
49.90p 19.62p |
Earnings per Share - Diluted | 10.10p 10.09p |
61.20p 61.15p |
0.53p 0.53p |
(242.70p) 40.29p |
49.50p 19.46p |
Earnings per Share - Adjusted | 10.30p | 62.20p | 0.54p | (242.70p) | 49.50p |
Earnings per Share Growth - Basic | -83% -83% |
11,439% 11,435% |
n/a -99% |
n/a 105% |
-41% -68% |
Earnings per Share Growth - Diluted | -84% -84% |
11,449% 11,446% |
n/a -99% |
n/a 107% |
-41% -68% |
Earnings per Share Growth - Adjusted | -83% | 11,439% | n/a | n/a | -55% |
PE Ratio - Diluted | 74.6 74.6 |
13.4 13.4 |
2,112.5 2,113.6 |
n/a 19.9 |
21.5 54.8 |
PEG - Diluted | n/a n/a |
0.0 0.0 |
n/a n/a |
n/a 0.2 |
n/a n/a |
Dividend Cover | 0.26 0.26 |
1.58 1.58 |
0.02 0.02 |
(10.11) 1.68 |
2.18 0.86 |
Return on Equity (ROE) | 2.86% 2.86% |
15.97% 15.97% |
0.15% 0.15% |
(53.92%) 8.96% |
7.07% 2.78% |
Operating Cash Flow per Share | 115.49p | 63.84p | 169.92p | 168.01p | 148.04p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | (4.38p) | (147.46p) | (0.56p) | 133.83p | 55.05p |
Capital Expenditure per Share | n/a | n/a | n/a | n/a | n/a |
Dividend per Share | 39.40p | 39.40p | 31.20p | 24.00p | 22.70p |
Dividend per Share Growth | n/a | 26.28% | 30.00% | 5.73% | (62.17%) |
Dividend Yield | 5.2% | 4.8% | 2.8% | 3.0% | 2.1% |
Shareholders Funds | 3,375.60 | 3,680.80 | 3,616.40 | 4,732.00 | 8,044.40 |
Net Borrowings £ (Millions) | 883.30 | 888.10 | 2,942.90 | 2,851.90 | (4,547.40) |
Net Asset Value per Share (inc. Intangibles) | (546.89p) | (566.95p) | (448.49p) | (330.83p) | (282.80p) |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - inc Intangibles | 31-Dec-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Shareholders' Funds inc Intangibles | 3,375.60 | 3,680.80 | 3,616.40 | 4,732.00 | 8,044.40 |
Net Borrowings £ (Millions) | 883.30 | 888.10 | 2,942.90 | 2,851.90 | (4,547.40) |
Net Gearing | 26.17% | 24.13% | 81.38% | 60.27% | 47.10% |
Cash & Near Cash | 2,217.50 | 2,491.50 | 3,882.90 | 12,899.10 | 11,305.70 |
Cash | 65.69% | 67.69% | 107.37% | 272.59% | 140.54% |
Gross Borrowings | 3,100.80 | 3,379.60 | 6,825.80 | 15,751.00 | 6,758.30 |
Gross Gearing | 91.86% | 91.82% | 188.75% | 332.86% | 187.65% |
Borrowings Under 5 years | 3,100.80 | 3,379.60 | 6,825.80 | 15,751.00 | 6,758.30 |
Under 5 years | 91.86% | 91.82% | 188.75% | 332.86% | 84.01% |
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-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Shareholders' Funds exc Intangibles | (5,863.20) | (6,224.50) | (5,355.40) | (4,046.10) | (3,535.00) |
Net Borrowings £ (Millions) | 883.30 | 888.10 | 2,942.90 | 2,851.90 | (4,547.40) |
Net Gearing | (15.07%) | (14.27%) | (54.95%) | (70.49%) | n/a |
Cash & Near Cash | 2,217.50 | 2,491.50 | 3,882.90 | 12,899.10 | 11,305.70 |
Cash | (37.82%) | (40.03%) | (72.50%) | (318.80%) | (319.82%) |
Gross Borrowings | 3,100.80 | 3,379.60 | 6,825.80 | 15,751.00 | 6,758.30 |
Gross Gearing | 52.89% | 54.30% | 127.46% | 389.29% | 427.02% |
Borrowings Under 5 years | 3,100.80 | 3,379.60 | 6,825.80 | 15,751.00 | 6,758.30 |
Under 5 years | (52.89%) | (54.30%) | (127.46%) | (389.29%) | (191.18%) |
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-23 | 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | 31-Dec-19 |
Quick Ratio | n/a | n/a | n/a | n/a | n/a |
Current Ratio | 0.86 | 0.85 | 0.93 | 1.03 | 1.51 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
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