De La Rue (DLAR)

Sector:

Support

Index:

FTSE Small Cap

96.40p
   
  • Change Today:
    -2.20p
  • 52 Week High: 102.00
  • 52 Week Low: 30.00
  • Currency: UK Pounds
  • Shares Issued: 195.89m
  • Volume: 333,412
  • Market Cap: £188.84m
  • RiskGrade: 219

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Annualisation Factor 1.0 1.0 1.0 1.0 1.0
Dividend Yield 4.4% 2.7% 2.2% 4.7% 5.3%
           
Continuing Operations          
PE Ratio - Adjusted 12.2 26.3 50.6 20.7 33.1
PE Ratio - Diluted 18.0
19.0		 33.9
13.8		 52.8
23.4		 28.6
17.9		 11.8
28.7
PEG - Adjusted 0.2 0.5 n/a 0.3 n/a
PEG - Diluted 0.5
n/a		 1.3
0.4		 n/a
n/a		 n/a
0.2		 n/a
n/a
Return on Capital Employed n/a
n/a		 102.87%
119.14%		 291.98%
339.51%		 n/a
n/a		 131.39%
66.04%
Operating Margin 10.34%
11.05%		 12.57%
14.55%		 9.78%
11.37%		 7.25%
12.51%		 16.51%
8.30%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 11.8 26.3 50.6 20.7 33.1
PE Ratio - Diluted 16.9
17.6		 33.9
13.8		 52.8
23.4		 28.6
17.9		 11.8
28.7
PEG - Adjusted 0.2 0.5 n/a 0.3 n/a
PEG - Diluted 0.4
n/a		 1.3
0.4		 n/a
n/a		 n/a
0.2		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Net Gearing (72.74%) n/a n/a (50.10%) 234.59%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Price/Book Value (3.2) (8.3) (9.6) (11.7) (110.7)
Price/Tangible Book Value (3.1) (7.8) (9.1) (11.1) (72.0)
Price/ Cash Flow 9.6 11.7 27.0 9.6 (46.4)
Price/Revenue 1.23 1.42 1.84 1.55 1.55
Price/R&D 54.2 65.8 85.5 77.1 69.9
Net Asset Value per Share (exc. Intangibles) (161.88p) (88.59p) (92.97p) (70.29p) (6.57p)
Net Cash per Share 9.51p 11.11p 10.44p 10.68p 10.40p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Continuing Operations          
Revenue 422.80 513.30 483.70 528.30 463.90
EBITDA 72.30
71.50		 107.00
103.00		 73.60
81.30		 66.00
92.70		 101.00
62.90
Depreciation (28.60)
(24.80)		 (42.50)
(28.30)		 (26.30)
(26.30)		 (27.70)
(26.60)		 (24.40)
(24.40)
Net Interest (4.80)
(4.80)		 (4.70)
(4.70)		 (3.60)
(3.60)		 (5.40)
(5.40)		 (3.80)
(3.80)
Profit Before Tax 40.60
43.60		 59.80
70.00		 43.70
51.40		 32.90
60.70		 72.80
34.70
           
Revenue per Share 418.61p 513.81p 485.64p 532.02p 468.59p
Pre-Tax Profit per Share 40.20p
43.17p		 59.86p
70.07p		 43.88p
51.61p		 33.13p
61.13p		 73.53p
35.05p
Market Capitalisation £ (Millions) 521.28 736.59 890.51 819.15 720.98
Enterprise Value (EV) £ (Millions) 653.08 881.89 986.81 861.45 762.58
EBITDA/EV 11.07%
10.95%		 12.13%
11.68%		 7.46%
8.24%		 7.66%
10.76%		 13.24%
8.25%
Operating Margin 10.34%
11.05%		 12.57%
14.55%		 9.78%
11.37%		 7.25%
12.51%		 16.51%
8.30%
Capital Employed £ (Millions) (17.10) 62.70 16.20 (12.80) 58.30
Return on Capital Employed n/a
n/a		 102.87%
119.14%		 291.98%
339.51%		 n/a
n/a		 131.39%
66.04%
Invested Equity Capital £ (Millions) (148.00) (72.10) (64.00) (41.30) 14.30
           
Earnings per Share - Basic 29.07p
27.52p		 21.68p
53.35p		 17.14p
38.55p		 29.07p
46.53p		 61.80p
25.45p
Earnings per Share - Diluted 28.61p
27.12p		 21.54p
52.98p		 16.91p
38.13p		 28.80p
46.11p		 61.43p
25.30p
Earnings per Share - Adjusted 42.14p 27.82p 17.65p 39.77p 21.94p
Earnings per Share Growth - Basic 34%
-48%		 26%
38%		 -41%
-17%		 -53%
83%		 -5%
n/a
Earnings per Share Growth - Diluted 33%
-49%		 27%
39%		 -41%
-17%		 -53%
82%		 -5%
n/a
Earnings per Share Growth - Adjusted 52% 58% -56% 81% -68%
PE Ratio - Diluted 18.0
19.0		 33.9
13.8		 52.8
23.4		 28.6
17.9		 11.8
28.7
PEG - Diluted 0.5
n/a		 1.3
0.4		 n/a
n/a		 n/a
0.2		 n/a
n/a
Tax Rate 9.36% 19.90% 12.59% 2.13% 7.42%
Dividend Cover 1.84
1.20		 1.43
2.75		 0.91
1.99		 1.03
1.20		 0.57
0.66
Interest Cover 9.12
9.72		 13.20
15.29		 12.50
14.53		 1.73
2.35		 16.49
8.38
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 31.08p
29.70p		 21.68p
53.35p		 17.14p
38.55p		 29.07p
46.53p		 61.80p
25.45p
Earnings per Share - Diluted 30.53p
29.27p		 21.54p
52.98p		 16.91p
38.13p		 28.80p
46.11p		 61.43p
25.30p
Earnings per Share - Adjusted 43.79p 27.82p 17.65p 39.77p 21.94p
Earnings per Share Growth - Basic 43%
-44%		 26%
38%		 -41%
-17%		 -53%
83%		 -5%
n/a
Earnings per Share Growth - Diluted 42%
-45%		 27%
39%		 -41%
-17%		 -53%
82%		 -5%
n/a
Earnings per Share Growth - Adjusted 57% 58% -56% 81% -68%
PE Ratio - Diluted 16.9
17.6		 33.9
13.8		 52.8
23.4		 28.6
17.9		 11.8
28.7
PEG - Diluted 0.4
n/a		 1.3
0.4		 n/a
n/a		 n/a
0.2		 n/a
n/a
Dividend Cover 1.92
1.30		 1.43
2.75		 0.91
1.99		 1.03
1.20		 0.57
0.66
Return on Equity (ROE) (23.18%)
(20.27%)		 (65.60%)
(73.93%)		 (58.12%)
(60.00%)		 (76.51%)
(111.86%)		 467.83%
176.22%
Operating Cash Flow per Share 53.76p 31.47p 16.56p 86.10p (15.66p)
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (27.13p) 35.44p (1.10p) (0.91p) (14.04p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 22.85p 19.39p 19.39p 38.67p 38.67p
Dividend per Share Growth 17.88% n/a (49.86%) n/a n/a
Dividend Yield 4.4% 2.7% 2.2% 4.7% 5.3%
Shareholders Funds (152.60) (75.50) (71.30) (49.50) 13.30
Net Borrowings £ (Millions) 111.00 89.90 76.70 24.80 31.20
Net Asset Value per Share (inc. Intangibles) (167.53p) (93.69p) (97.69p) (74.22p) (10.10p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Shareholders' Funds inc Intangibles (152.60) (75.50) (71.30) (49.50) 13.30
Net Borrowings £ (Millions) 111.00 89.90 76.70 24.80 31.20
Net Gearing (72.74%) n/a n/a (50.10%) 234.59%
Cash & Near Cash 30.80 57.90 24.80 24.00 32.60
Cash (20.18%) (76.69%) (34.78%) (48.48%) 245.11%
Gross Borrowings 141.80 147.80 101.50 48.80 63.80
Gross Gearing 92.92% 195.76% 142.36% 98.59% 479.70%
Borrowings Under 5 years 141.80 147.80 101.50 48.80 63.80
Under 5 years (92.92%) (195.76%) (142.36%) (98.59%) 479.70%
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 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Shareholders' Funds exc Intangibles (169.20) (93.60) (97.30) (73.70) (10.00)
Net Borrowings £ (Millions) 111.00 89.90 76.70 24.80 31.20
Net Gearing (65.60%) (96.05%) (78.83%) (33.65%) n/a
Cash & Near Cash 30.80 57.90 24.80 24.00 32.60
Cash (18.20%) (61.86%) (25.49%) (32.56%) (326.00%)
Gross Borrowings 141.80 147.80 101.50 48.80 63.80
Gross Gearing 83.81% 157.91% 104.32% 66.21% 638.00%
Borrowings Under 5 years 141.80 147.80 101.50 48.80 63.80
Under 5 years (83.81%) (157.91%) (104.32%) (66.21%) (638.00%)
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 28-Mar-15 29-Mar-14 30-Mar-13 31-Mar-12 26-Mar-11
Quick Ratio 0.41 0.44 0.36 0.38 0.48
Current Ratio 0.61 0.65 0.59 0.61 0.70

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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