Howden Joinery Group (HWDN)

Sector:

Retailers

Index:

FTSE 250

888.00p
   
  • Change Today:
      16.00p
  • 52 Week High: 906.80
  • 52 Week Low: 613.00
  • Currency: UK Pounds
  • Shares Issued: 553.59m
  • Volume: 717,795
  • Market Cap: £4,915.89m

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 2.5% 3.6% 2.2% 1.3% 0.6%
           
Continuing Operations          
PE Ratio - Adjusted 17.7 8.6 16.9 27.9 19.3
PE Ratio - Diluted 17.8
17.8		 8.7
8.7		 16.9
16.8		 28.0
27.7		 19.4
19.4
PEG - Adjusted n/a 0.4 0.1 n/a 1.6
PEG - Diluted n/a
n/a		 0.4
0.4		 0.1
0.1		 n/a
n/a		 1.6
1.6
Return on Capital Employed 20.93%
20.15%		 27.51%
26.88%		 0.25%
0.25%		 15.14%
15.29%		 43.28%
43.28%
Operating Margin 14.18%
14.18%		 17.50%
17.50%		 19.19%
19.34%		 12.65%
12.77%		 16.42%
16.42%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 17.7 8.6 1,670.8 27.9 19.3
PE Ratio - Diluted 17.8
17.8		 8.7
8.7		 1,677.1
1,659.9		 28.0
27.7		 19.4
19.4
PEG - Adjusted n/a 0.0 n/a n/a 0.2
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.2
0.2

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Net Gearing 41.06% 40.99% 7.66% 20.78% n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Price/Book Value 4.8 3.9 5.5 5.9 6.8
Price/Tangible Book Value 4.8 3.9 5.5 5.9 6.8
Price/ Cash Flow 12.1 8.2 12.1 12.5 18.2
Price/Revenue 1.96 1.39 250.99 2.66 2.55
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 170.57p 146.99p 163.89p 117.59p 98.89p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Continuing Operations          
Revenue 2,310.90 2,319.00 21.13 1,547.50 1,583.60
EBITDA 327.60
327.60		 405.80
405.80		 4.46
4.50		 230.20
232.10		 260.00
260.00
Depreciation n/a
n/a		 n/a
n/a		 (0.41)
(0.41)		 (34.50)
(34.50)		 n/a
n/a
Net Interest n/a
n/a		 n/a
n/a		 (0.12)
(0.12)		 (10.40)
(10.40)		 0.70
0.70
Profit Before Tax 327.60
327.60		 405.80
405.80		 3.94
3.97		 185.30
187.20		 260.70
260.70
           
Revenue per Share 421.62p 407.84p 3.58p 261.27p 265.30p
Pre-Tax Profit per Share 59.77p
59.77p		 71.37p
71.37p		 0.67p
0.67p		 31.29p
31.61p		 43.68p
43.68p
Market Capitalisation £ (Millions) 4,566.02 3,189.37 5,361.43 4,188.70 4,082.69
Enterprise Value (EV) £ (Millions) 5,210.82 3,822.37 5,952.63 4,769.20 4,082.69
EBITDA/EV 6.29%
6.29%		 10.62%
10.62%		 0.07%
0.08%		 4.83%
4.87%		 6.37%
6.37%
Operating Margin 14.18%
14.18%		 17.50%
17.50%		 19.19%
19.34%		 12.65%
12.77%		 16.42%
16.42%
Capital Employed £ (Millions) 1,625.70 1,509.40 1,618.20 1,292.60 600.80
Return on Capital Employed 20.93%
20.15%		 27.51%
26.88%		 0.25%
0.25%		 15.14%
15.29%		 43.28%
43.28%
Invested Equity Capital £ (Millions) 984.70 880.00 1,049.60 736.40 625.70
           
Earnings per Share - Basic 46.50p
46.45p		 65.80p
65.81p		 53.20p
53.74p		 24.90p
25.24p		 35.00p
35.01p
Earnings per Share - Diluted 46.30p
46.27p		 65.60p
65.57p		 53.00p
53.55p		 24.80p
25.13p		 34.80p
34.84p
Earnings per Share - Adjusted 46.50p 65.80p 53.20p 24.90p 35.00p
Earnings per Share Growth - Basic -29%
-29%		 24%
22%		 114%
113%		 -29%
-28%		 12%
12%
Earnings per Share Growth - Diluted -29%
-29%		 24%
22%		 114%
113%		 -29%
-28%		 12%
12%
Earnings per Share Growth - Adjusted -29% 24% 114% -29% 12%
PE Ratio - Diluted 17.8
17.8		 8.7
8.7		 16.9
16.8		 28.0
27.7		 19.4
19.4
PEG - Diluted n/a
n/a		 0.4
0.4		 0.1
0.1		 n/a
n/a		 1.6
1.6
Tax Rate 22.28% 7.79% 19.42% 20.35% 19.83%
Dividend Cover 2.21
2.21		 3.19
3.19		 2.73
2.76		 2.74
2.77		 8.97
8.98
Interest Cover n/a
n/a		 n/a
n/a		 35.24
35.52		 17.85
18.02		 652.75
652.75
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 46.50p
46.45p		 65.80p
65.81p		 0.54p
0.54p		 24.90p
25.24p		 35.00p
35.01p
Earnings per Share - Diluted 46.30p
46.27p		 65.60p
65.57p		 0.54p
0.54p		 24.80p
25.13p		 34.80p
34.84p
Earnings per Share - Adjusted 46.50p 65.80p 0.54p 24.90p 35.00p
Earnings per Share Growth - Basic -29%
-29%		 12,154%
12,033%		 -98%
-98%		 -29%
-28%		 125%
125%
Earnings per Share Growth - Diluted -29%
-29%		 12,162%
12,031%		 -98%
-98%		 -29%
-28%		 125%
125%
Earnings per Share Growth - Adjusted -29% 12,154% -98% -29% 125%
PE Ratio - Diluted 17.8
17.8		 8.7
8.7		 1,677.1
1,659.9		 28.0
27.7		 19.4
19.4
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 n/a
n/a		 0.2
0.2
Dividend Cover 2.21
2.21		 3.19
3.19		 0.03
0.03		 2.74
2.77		 8.97
8.98
Return on Equity (ROE) 25.86%
25.86%		 42.52%
42.52%		 0.30%
0.31%		 20.04%
20.30%		 33.40%
33.40%
Operating Cash Flow per Share 67.93p 69.52p 73.98p 55.63p 37.09p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (4.98p) (35.68p) 0.14p 27.57p 6.05p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 21.00p 20.60p 19.50p 9.10p 3.90p
Dividend per Share Growth 1.94% 5.64% 114.29% 133.33% (66.38%)
Dividend Yield 2.5% 3.6% 2.2% 1.3% 0.6%
Shareholders Funds 978.40 871.70 991.50 720.80 615.20
Net Borrowings £ (Millions) 401.70 357.30 75.90 149.80 (267.40)
Net Asset Value per Share (inc. Intangibles) 170.57p 146.99p 163.89p 117.59p 98.89p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Shareholders' Funds inc Intangibles 978.40 871.70 991.50 720.80 615.20
Net Borrowings £ (Millions) 401.70 357.30 75.90 149.80 (267.40)
Net Gearing 41.06% 40.99% 7.66% 20.78% n/a
Cash & Near Cash 282.80 308.00 515.30 430.70 267.40
Cash 28.90% 35.33% 51.97% 59.75% 43.47%
Gross Borrowings 684.50 665.30 591.20 580.50 n/a
Gross Gearing 69.96% 76.32% 59.63% 80.54% n/a
Borrowings Under 5 years 684.50 665.30 591.20 580.50 n/a
Under 5 years 69.96% 76.32% 59.63% 80.54% n/a
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 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Shareholders' Funds exc Intangibles 934.90 835.80 968.90 696.50 590.30
Net Borrowings £ (Millions) 401.70 357.30 75.90 149.80 (267.40)
Net Gearing 42.97% 42.75% 7.83% 21.51% n/a
Cash & Near Cash 282.80 308.00 515.30 430.70 267.40
Cash 30.25% 36.85% 53.18% 61.84% 45.30%
Gross Borrowings 684.50 665.30 591.20 580.50 n/a
Gross Gearing 73.22% 79.60% 61.02% 83.35% n/a
Borrowings Under 5 years 684.50 665.30 591.20 580.50 n/a
Under 5 years 73.22% 79.60% 61.02% 83.35% n/a
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 24-Dec-23 24-Dec-22 25-Dec-21 26-Dec-20 28-Dec-19
Quick Ratio 1.10 1.06 1.54 1.52 1.76
Current Ratio 1.92 1.75 2.18 2.17 2.65

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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