Big Yellow Group (BYG)

Sector:

Property Investment Trusts

Index:

FTSE 250

1,132.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 1,239.00
  • 52 Week Low: 910.00
  • Currency: UK Pounds
  • Shares Issued: 196.25m
  • Volume: 377,039
  • Market Cap: £2,221.56m
  • RiskGrade: 109

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 3.9% 2.7% 3.0% 3.4% 3.3%
           
Continuing Operations          
PE Ratio - Adjusted 20.7 29.3 26.2 23.7 23.9
PE Ratio - Diluted 29.4
29.1		 4.0
29.4		 7.3
26.4		 18.1
23.8		 12.7
24.4
PEG - Adjusted 2.6 1.2 n/a 11.9 0.5
PEG - Diluted n/a
n/a		 0.0
1.2		 0.0
n/a		 n/a
7.9		 1.6
0.4
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Operating Margin 48.82%
49.19%		 411.97%
62.21%		 200.21%
60.26%		 79.79%
62.43%		 108.09%
61.13%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 20.7 29.3 2,599.1 23.7 95.6
PE Ratio - Diluted 29.4
29.1		 4.0
29.4		 727.7
2,613.6		 18.1
23.8		 50.9
97.5
PEG - Adjusted 2.6 0.0 n/a 0.1 n/a
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing 23.09% 19.69% 23.46% 31.55% 29.96%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Price/Book Value 1.0 1.3 1.3 1.4 1.4
Price/Tangible Book Value 1.0 1.3 1.3 1.4 1.4
Price/ Cash Flow 19.1 25.9 25.3 22.6 22.2
Price/Revenue 11.33 16.22 1,422.00 12.87 51.11
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 1,191.81p 1,206.71p 834.27p 701.11p 695.02p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Continuing Operations          
Revenue 188.83 171.32 1.37 129.31 31.33
EBITDA 89.76
90.46		 703.32
104.12		 2.75
0.84		 103.18
80.73		 34.31
19.60
Depreciation 2.43
2.43		 2.46
2.46		 (0.02)
(0.02)		 n/a
n/a		 (0.45)
(0.45)
Net Interest (16.88)
(16.88)		 (10.58)
(10.58)		 (0.08)
(0.08)		 (9.73)
(9.73)		 (2.76)
(2.76)
Profit Before Tax 75.31
76.01		 698.88
96.38		 2.68
0.75		 93.45
71.00		 31.69
16.58
           
Revenue per Share 103.19p 94.70p 0.78p 77.99p 19.40p
Pre-Tax Profit per Share 41.15p
41.53p		 386.33p
53.28p		 1.54p
0.43p		 56.36p
42.82p		 19.62p
10.27p
Market Capitalisation £ (Millions) 2,154.07 2,825.74 1,961.07 1,678.07 1,652.49
Enterprise Value (EV) £ (Millions) 2,666.02 3,264.39 2,314.43 2,096.74 2,007.14
EBITDA/EV 3.37%
3.39%		 21.55%
3.19%		 0.12%
0.04%		 4.92%
3.85%		 1.71%
0.98%
Operating Margin 48.82%
49.19%		 411.97%
62.21%		 200.21%
60.26%		 79.79%
62.43%		 108.09%
61.13%
Capital Employed £ (Millions) 2,693.28 2,621.60 1,805.83 1,581.11 1,477.11
Return on Capital Employed n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Invested Equity Capital £ (Millions) 2,182.45 2,184.38 1,453.90 1,163.88 1,123.90
           
Earnings per Share - Basic 40.10p
40.45p		 385.40p
52.39p		 151.80p
42.41p		 55.60p
42.30p		 78.30p
40.87p
Earnings per Share - Diluted 39.80p
40.21p		 384.20p
52.22p		 151.80p
42.26p		 55.60p
42.12p		 78.00p
40.71p
Earnings per Share - Adjusted 56.50p 52.50p 42.50p 42.30p 41.50p
Earnings per Share Growth - Basic -90%
-23%		 154%
24%		 173%
0%		 -29%
4%		 8%
59%
Earnings per Share Growth - Diluted -90%
-23%		 153%
24%		 173%
0%		 -29%
3%		 8%
60%
Earnings per Share Growth - Adjusted 8% 24% 0% 2% 52%
PE Ratio - Diluted 29.4
29.1		 4.0
29.4		 7.3
26.4		 18.1
23.8		 12.7
24.4
PEG - Diluted n/a
n/a		 0.0
1.2		 0.0
n/a		 n/a
7.9		 1.6
0.4
Tax Rate 2.63% 0.23% 0.24% 0.93% 0.56%
Dividend Cover 1.25
0.90		 1.25
1.25		 1.25
1.25		 1.25
1.25		 1.25
1.23
Interest Cover 5.46
5.50		 66.91
10.09		 33.56
10.12		 10.49
8.21		 12.33
6.93
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 40.10p
40.45p		 385.40p
52.39p		 1.53p
0.43p		 55.60p
42.30p		 19.56p
10.21p
Earnings per Share - Diluted 39.80p
40.21p		 384.20p
52.22p		 1.53p
0.43p		 55.60p
42.12p		 19.49p
10.17p
Earnings per Share - Adjusted 56.50p 52.50p 0.43p 42.30p 10.37p
Earnings per Share Growth - Basic -90%
-23%		 25,052%
12,138%		 -97%
-99%		 184%
314%		 -73%
-60%
Earnings per Share Growth - Diluted -90%
-23%		 24,974%
12,140%		 -97%
-99%		 185%
314%		 -73%
-60%
Earnings per Share Growth - Adjusted 8% 12,138% -99% 308% -62%
PE Ratio - Diluted 29.4
29.1		 4.0
29.4		 727.7
2,613.6		 18.1
23.8		 50.9
97.5
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 0.1
0.1		 n/a
n/a
Dividend Cover 1.25
0.90		 1.25
1.25		 0.01
0.01		 1.25
1.25		 0.31
0.31
Return on Equity (ROE) 3.36%
3.39%		 31.92%
4.34%		 0.18%
0.05%		 7.95%
6.03%		 2.81%
1.47%
Operating Cash Flow per Share 61.19p 59.22p 44.06p 44.40p 44.69p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (0.15p) (2.06p) (0.23p) 20.21p 1.71p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 45.20p 42.00p 34.00p 33.80p 33.20p
Dividend per Share Growth 7.62% 23.53% 0.59% 1.81% 53.00%
Dividend Yield 3.9% 2.7% 3.0% 3.4% 3.3%
Shareholders Funds 2,182.45 2,184.38 1,453.90 1,163.88 1,123.90
Net Borrowings £ (Millions) 503.94 430.05 341.04 367.25 336.75
Net Asset Value per Share (inc. Intangibles) 1,191.81p 1,206.71p 834.27p 701.11p 695.02p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds inc Intangibles 2,182.45 2,184.38 1,453.90 1,163.88 1,123.90
Net Borrowings £ (Millions) 503.94 430.05 341.04 367.25 336.75
Net Gearing 23.09% 19.69% 23.46% 31.55% 29.96%
Cash & Near Cash 8.33 8.60 12.32 51.42 17.90
Cash 0.38% 0.39% 0.85% 4.42% 1.59%
Gross Borrowings 512.27 438.66 353.37 418.67 354.65
Gross Gearing 23.47% 20.08% 24.30% 35.97% 31.56%
Borrowings Under 5 years 512.27 438.66 353.37 418.67 354.65
Under 5 years 23.47% 20.08% 24.30% 35.97% 31.56%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds exc Intangibles 2,181.01 2,182.94 1,452.46 1,162.44 1,122.46
Net Borrowings £ (Millions) 503.94 430.05 341.04 367.25 336.75
Net Gearing 23.11% 19.70% 23.48% 31.59% 30.00%
Cash & Near Cash 8.33 8.60 12.32 51.42 17.90
Cash 0.38% 0.39% 0.85% 4.42% 1.59%
Gross Borrowings 512.27 438.66 353.37 418.67 354.65
Gross Gearing 23.49% 20.09% 24.33% 36.02% 31.60%
Borrowings Under 5 years 512.27 438.66 353.37 418.67 354.65
Under 5 years 23.49% 20.09% 24.33% 36.02% 31.60%
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-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio 0.27 0.31 0.51 1.56 0.83
Current Ratio 0.28 0.32 0.52 1.57 0.84

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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