Sirius Real Estate Ltd. (SRE)

Sector:

Real Estate

Index:

FTSE 250

97.50p
   
  • Change Today:
      0.20p
  • 52 Week High: 98.80
  • 52 Week Low: 78.25
  • Currency: UK Pounds
  • Shares Issued: 1,348.14m
  • Volume: 340,584
  • Market Cap: £1,314.44m
  • RiskGrade: 149

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 1.0
Dividend Yield 6.4% 3.0% 3.7% 4.7% 4.6%
           
Continuing Operations          
PE Ratio - Adjusted 11.2 22.5 18.4 14.6 16.1
PE Ratio - Diluted 13.3
14.1		 11.0
184.6		 7.4
18.6		 8.1
8.1		 5.8
16.7
PEG - Adjusted 0.5 1.4 2.6 1.0 1.0
PEG - Diluted n/a
0.0		 n/a
n/a		 0.2
n/a		 n/a
0.1		 0.1
1.1
Return on Capital Employed 4.46%
4.29%		 8.24%
2.14%		 0.12%
0.05%		 9.58%
8.28%		 14.18%
5.10%
Operating Margin 37.95%
36.21%		 90.01%
23.26%		 100.21%
37.40%		 73.84%
73.84%		 110.90%
39.46%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 11.2 22.5 1,826.4 14.6 16.1
PE Ratio - Diluted 13.3
14.1		 11.0
184.6		 734.0
1,843.1		 8.1
8.1		 5.8
16.7
PEG - Adjusted 0.5 0.0 n/a 1.0 1.0
PEG - Diluted n/a
0.0		 0.0
0.1		 n/a
n/a		 n/a
0.1		 0.1
1.1

    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing 73.49% 73.00% 45.05% 47.17% 40.66%

    (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 n/a n/a n/a n/a n/a
Price/Tangible Book Value n/a n/a n/a n/a n/a
Price/ Cash Flow n/a n/a n/a n/a n/a
Price/Revenue n/a n/a n/a n/a n/a
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 102.20¢ 108.18¢ 88.41¢ 77.45¢ 71.73¢
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 270.10 210.20 1.67 150.01 140.06
EBITDA 108.00
103.30		 192.40
52.10		 1.69
0.65		 110.76
110.76		 156.70
56.65
Depreciation (5.50)
(5.50)		 (3.20)
(3.20)		 (0.02)
(0.02)		 n/a
n/a		 (1.37)
(1.37)
Net Interest (15.50)
(15.50)		 (20.30)
(20.30)		 (0.07)
(0.07)		 n/a
n/a		 (10.62)
(10.62)
Profit Before Tax 87.00
82.30		 168.90
28.60		 1.65
0.60		 110.77
110.77		 144.71
44.65
           
Revenue per Share 23.13¢ 19.16¢ 0.16¢ 14.59¢ 13.91¢
Pre-Tax Profit per Share 7.45¢
7.05¢		 15.39¢
2.61¢		 0.16¢
0.058¢		 10.78¢
10.78¢		 14.37¢
4.43¢
Market Capitalisation   (Millions) 896.14 1,463.27 931.63 n/a 648.04
Enterprise Value (EV)   (Millions) 1,898.84 2,483.17 1,414.60 499.29 979.25
EBITDA/EV 5.69%
5.44%		 7.75%
2.10%		 0.12%
0.05%		 22.18%
22.18%		 16.00%
5.78%
Operating Margin 37.95%
36.21%		 90.01%
23.26%		 100.21%
37.40%		 73.84%
73.84%		 110.90%
39.46%
Capital Employed   (Millions) 2,277.70 2,282.90 1,459.63 1,337.62 1,084.64
Return on Capital Employed 4.46%
4.29%		 8.24%
2.14%		 0.12%
0.05%		 9.58%
8.28%		 14.18%
5.10%
Invested Equity Capital   (Millions) 1,277.30 1,266.60 982.86 843.72 756.69
           
Earnings per Share - Basic 6.82¢
6.41¢		 13.48¢
0.80¢		 14.16¢
5.64¢		 9.55¢
9.55¢		 12.78¢
4.43¢
Earnings per Share - Diluted 6.73¢
6.33¢		 13.29¢
0.79¢		 13.96¢
5.56¢		 9.44¢
9.44¢		 12.72¢
4.41¢
Earnings per Share - Adjusted 7.96¢ 6.48¢ 5.61¢ 5.24¢ 4.58¢
Earnings per Share Growth - Basic -49%
700%		 -5%
-86%		 48%
-41%		 -25%
115%		 44%
12%
Earnings per Share Growth - Diluted -49%
700%		 -5%
-86%		 48%
-41%		 -26%
114%		 47%
15%
Earnings per Share Growth - Adjusted 23% 16% 7% 14% 16%
PE Ratio - Diluted 13.3
14.1		 11.0
184.6		 7.4
18.6		 8.1
8.1		 5.8
16.7
PEG - Diluted n/a
0.0		 n/a
n/a		 0.2
n/a		 n/a
0.1		 0.1
1.1
Tax Rate 8.39% 12.37% 10.14% 11.39% 11.05%
Dividend Cover 1.40
1.13		 1.47
0.18		 1.48
1.48		 1.47
2.67		 1.36
1.32
Interest Cover 5.75
5.50		 8.25
2.23		 17.58
7.06		 n/a
n/a		 14.53
5.18
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 6.82¢
6.41¢		 13.48¢
0.80¢		 0.14¢
0.057¢		 9.55¢
9.55¢		 12.78¢
4.43¢
Earnings per Share - Diluted 6.73¢
6.33¢		 13.29¢
0.79¢		 0.14¢
0.056¢		 9.44¢
9.44¢		 12.72¢
4.41¢
Earnings per Share - Adjusted 7.96¢ 6.48¢ 0.057¢ 5.24¢ 4.58¢
Earnings per Share Growth - Basic -49%
700%		 9,331%
1,308%		 -98%
-99%		 -25%
115%		 44%
12%
Earnings per Share Growth - Diluted -49%
700%		 9,331%
1,310%		 -98%
-99%		 -26%
114%		 47%
15%
Earnings per Share Growth - Adjusted 23% 11,343% -99% 14% 16%
PE Ratio - Diluted 13.3
14.1		 11.0
184.6		 734.0
1,843.1		 8.1
8.1		 5.8
16.7
PEG - Diluted n/a
0.0		 0.0
0.1		 n/a
n/a		 n/a
0.1		 0.1
1.1
Dividend Cover 1.40
1.13		 1.47
0.18		 0.01
0.01		 1.47
2.67		 1.36
1.32
Return on Equity (ROE) 6.23%
5.86%		 11.68%
0.69%		 0.15%
0.06%		 11.63%
11.63%		 17.00%
5.90%
Operating Cash Flow per Share 9.71¢ 7.46¢ 6.82¢ 6.94¢ 5.27¢
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (2.31¢) 7.66¢ (0.054¢) 7.88¢ (3.91¢)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 5.68¢ 4.41¢ 3.80¢ 3.57¢ 3.36¢
Dividend per Share Growth 28.80% 16.05% 6.44% 6.25% 6.33%
Dividend Yield 6.4% 3.0% 3.7% 4.7% 4.6%
Shareholders Funds 1,197.10 1,190.70 926.53 801.57 725.81
Net Borrowings   (Millions) 879.70 869.20 417.37 378.12 295.12
Net Asset Value per Share (inc. Intangibles) 102.16¢ 108.14¢ 88.38¢ 77.43¢ 71.71¢

    (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 1,197.10 1,190.70 926.53 801.57 725.81
Net Borrowings   (Millions) 879.70 869.20 417.37 378.12 295.12
Net Gearing 73.49% 73.00% 45.05% 47.17% 40.66%
Cash & Near Cash 124.30 151.00 65.67 121.26 36.34
Cash 10.38% 12.68% 7.09% 15.13% 5.01%
Gross Borrowings 1,004.00 1,020.20 483.04 499.38 331.46
Gross Gearing 83.87% 85.68% 52.13% 62.30% 45.67%
Borrowings Under 5 years 1,004.00 1,020.20 483.04 499.38 331.46
Under 5 years 83.87% 85.68% 52.13% 62.30% 45.67%
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 1,193.00 1,186.40 919.97 795.85 722.07
Net Borrowings   (Millions) 879.70 869.20 417.37 378.12 295.12
Net Gearing 73.74% 73.26% 45.37% 47.51% 40.87%
Cash & Near Cash 124.30 151.00 65.67 121.26 36.34
Cash 10.42% 12.73% 7.14% 15.24% 5.03%
Gross Borrowings 1,004.00 1,020.20 483.04 499.38 331.46
Gross Gearing 84.16% 85.99% 52.51% 62.75% 45.90%
Borrowings Under 5 years 1,004.00 1,020.20 483.04 499.38 331.46
Under 5 years 84.16% 85.99% 52.51% 62.75% 45.90%
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 n/a n/a n/a n/a n/a
Current Ratio 0.44 1.46 1.24 1.43 0.97

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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