Spirax Group (SPX)

Sector:

Engineering

Index:

FTSE 100

 7,435.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 10,735.00
  • 52 Week Low: 6,370.00
  • Currency: UK Pounds
  • Shares Issued: 73.78m
  • Volume: 0
  • Market Cap: £5,485m
  • RiskGrade: 124
  • Beta: 1.29

Key Financials

  £ (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 1.5% 1.4% 0.0% 1.0% 1.2%
           
Continuing Operations          
PE Ratio - Adjusted 33.6 28.1 4,691.8 44.0 33.5
PE Ratio - Diluted 42.2
33.3		 34.9
27.8		 5,008.0
47.5		 48.1
51.3		 39.4
33.6
PEG - Adjusted n/a 0.0 n/a n/a 5.6
PEG - Diluted n/a
n/a		 0.0
2.1		 n/a
0.9		 12.0
n/a		 n/a
1.9
Return on Capital Employed 23.17%
23.91%		 26.90%
30.83%		 0.36%
0.39%		 33.45%
32.75%		 28.69%
33.10%
Operating Margin 14.53%
17.44%		 19.13%
22.68%		 23.87%
25.31%		 20.86%
20.43%		 19.74%
22.77%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 33.6 28.1 464,809.1 44.0 33.5
PE Ratio - Diluted 42.2
33.3		 34.9
27.8		 496,137.9
4,705.8		 48.1
51.3		 39.4
33.6
PEG - Adjusted n/a 0.0 n/a n/a 0.1
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 12.0
n/a		 0.2
0.1

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing 65.99% 64.64% 18.89% 30.88% 40.48%

  £ (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 272.2 (231.1) 34.5 54.3 62.6
Price/Tangible Book Value 280.1 (225.8) 34.6 54.7 63.2
Price/ Cash Flow 25.9 32.4 43.3 32.1 28.8
Price/Revenue 4.60 4.85 871.60 6.98 5.27
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 38.59p (45.92p) 465.54p 208.00p 142.06p
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 1,682.60 1,610.60 13.57 1,193.40 1,242.40
EBITDA 244.50
293.50		 308.10
365.30		 3.86
3.84		 324.40
319.20		 245.20
282.90
Depreciation n/a
n/a		 n/a
n/a		 (0.62)
(0.40)		 (75.40)
(75.40)		 n/a
n/a
Net Interest n/a
n/a		 n/a
n/a		 (0.06)
(0.06)		 (8.70)
(8.70)		 (8.40)
(8.40)
Profit Before Tax 244.50
293.50		 308.10
365.30		 3.17
3.37		 240.10
234.90		 236.80
274.50
           
Revenue per Share 2,286.14p 2,188.32p 18.41p 1,619.27p 1,685.75p
Pre-Tax Profit per Share 332.20p
398.78p		 418.61p
496.33p		 4.31p
4.57p		 325.78p
318.73p		 321.30p
372.46p
Market Capitalisation £ (Millions) 7,750.17 7,831.33 11,839.45 8,331.87 6,555.21
Enterprise Value (EV) £ (Millions) 8,793.17 8,822.33 12,249.15 8,801.07 7,176.21
EBITDA/EV 2.78%
3.34%		 3.49%
4.14%		 0.03%
0.03%		 3.69%
3.63%		 3.42%
3.94%
Operating Margin 14.53%
17.44%		 19.13%
22.68%		 23.87%
25.31%		 20.86%
20.43%		 19.74%
22.77%
Capital Employed £ (Millions) 1,227.30 1,185.00 891.60 743.80 854.60
Return on Capital Employed 23.17%
23.91%		 26.90%
30.83%		 0.36%
0.39%		 33.45%
32.75%		 28.69%
33.10%
Invested Equity Capital £ (Millions) 1,232.70 1,303.30 1,092.30 932.70 910.50
           
Earnings per Share - Basic 249.50p
316.03p		 305.10p
383.02p		 3.21p
338.81p		 235.50p
220.62p		 226.20p
265.67p
Earnings per Share - Diluted 248.90p
315.18p		 304.40p
381.98p		 3.21p
337.89p		 234.80p
220.03p		 225.50p
264.95p
Earnings per Share - Adjusted 312.40p 377.20p 3.42p 256.60p 265.70p
Earnings per Share Growth - Basic -18%
-18%		 9,396%
13%		 -99%
54%		 4%
-17%		 -25%
18%
Earnings per Share Growth - Diluted -18%
-18%		 9,398%
13%		 -99%
54%		 4%
-17%		 -25%
18%
Earnings per Share Growth - Adjusted -17% 10,926% -99% -3% 6%
PE Ratio - Diluted 42.2
33.3		 34.9
27.8		 5,008.0
47.5		 48.1
51.3		 39.4
33.6
PEG - Diluted n/a
n/a		 0.0
2.1		 n/a
0.9		 12.0
n/a		 n/a
1.9
Tax Rate 24.74% 26.97% 25.31% 27.55% 29.48%
Dividend Cover 1.95
1.98		 2.48
2.52		 2.49
246.80		 2.17
1.87		 2.42
2.42
Interest Cover n/a
n/a		 n/a
n/a		 33.09
35.07		 24.77
24.26		 24.92
28.73
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 249.50p
316.03p		 305.10p
383.02p		 0.032p
3.42p		 235.50p
220.62p		 226.20p
265.67p
Earnings per Share - Diluted 248.90p
315.18p		 304.40p
381.98p		 0.032p
3.41p		 234.80p
220.03p		 225.50p
264.95p
Earnings per Share - Adjusted 312.40p 377.20p 0.035p 256.60p 265.70p
Earnings per Share Growth - Basic -18%
-18%		 940,655%
11,100%		 -100%
-98%		 4%
-17%		 199%
374%
Earnings per Share Growth - Diluted -18%
-18%		 940,862%
11,100%		 -100%
-98%		 4%
-17%		 199%
374%
Earnings per Share Growth - Adjusted -17% 1,092,274% -100% -3% 325%
PE Ratio - Diluted 42.2
33.3		 34.9
27.8		 496,137.9
4,705.8		 48.1
51.3		 39.4
33.6
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 12.0
n/a		 0.2
0.1
Dividend Cover 1.95
1.98		 2.48
2.52		 0.03
2.49		 2.17
1.87		 2.42
2.42
Return on Equity (ROE) 14.89%
18.87%		 17.24%
21.63%		 0.22%
0.23%		 18.61%
17.43%		 18.30%
21.50%
Operating Cash Flow per Share 405.71p 327.58p 3.75p 351.70p 308.55p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (22.15p) 22.83p 0.019p 75.44p (7.46p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 160.00p 152.00p 1.37p 118.00p 110.00p
Dividend per Share Growth 5.26% 10,972.36% (98.84%) 7.27% 10.00%
Dividend Yield 1.5% 1.4% 0.0% 1.0% 1.2%
Shareholders Funds 1,156.90 1,169.00 1,009.00 851.30 825.30
Net Borrowings £ (Millions) 763.40 755.60 190.60 262.90 334.10
Net Asset Value per Share (inc. Intangibles) 37.50p (47.01p) 464.18p 206.65p 140.71p

  £ (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 1,156.90 1,169.00 1,009.00 851.30 825.30
Net Borrowings £ (Millions) 763.40 755.60 190.60 262.90 334.10
Net Gearing 65.99% 64.64% 18.89% 30.88% 40.48%
Cash & Near Cash 359.70 328.90 274.60 246.20 330.60
Cash 31.09% 28.14% 27.22% 28.92% 40.06%
Gross Borrowings 1,123.10 1,084.50 465.20 509.10 664.70
Gross Gearing 97.08% 92.77% 46.11% 59.80% 80.54%
Borrowings Under 5 years 1,123.10 1,084.50 465.20 509.10 664.70
Under 5 years 97.08% 92.77% 46.11% 59.80% 80.54%
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 27.60 (34.60) 342.10 152.30 103.70
Net Borrowings £ (Millions) 763.40 755.60 190.60 262.90 334.10
Net Gearing 2,765.94% n/a 55.71% 172.62% 322.18%
Cash & Near Cash 359.70 328.90 274.60 246.20 330.60
Cash 1,303.26% (950.58%) 80.27% 161.65% 318.80%
Gross Borrowings 1,123.10 1,084.50 465.20 509.10 664.70
Gross Gearing 4,069.21% 3,134.40% 135.98% 334.27% 640.98%
Borrowings Under 5 years 1,123.10 1,084.50 465.20 509.10 664.70
Under 5 years 4,069.21% (3,134.40%) 135.98% 334.27% 640.98%
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 1.63 1.20 1.58 2.25 1.49
Current Ratio 2.26 1.65 2.11 3.04 1.94

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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