Thorpe (F.W.) (TFW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 50

365.00p
   
  • Change Today:
    -2.00p
  • 52 Week High: 448.00
  • 52 Week Low: 329.00
  • Currency: UK Pounds
  • Shares Issued: 117.27m
  • Volume: 23,864
  • Market Cap: £428.04m
  • RiskGrade: 81

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Annualisation Factor 1.0 1.0 1.0 1.0
Dividend Yield 2.2% 2.8% 3.0% 2.8%
         
Continuing Operations        
PE Ratio - Adjusted 11.1 8.9 7.5 7.8
PE Ratio - Diluted 11.1
1.1		 8.9
0.9		 7.5
0.8		 7.9
0.8
PEG - Adjusted 1.2 n/a n/a n/a
PEG - Diluted 1.2
0.1		 n/a
n/a		 n/a
n/a		 n/a
n/a
Return on Capital Employed 19.81%
19.92%		 21.73%
21.55%		 24.28%
24.28%		 26.12%
26.02%
Operating Margin 21.51%
21.42%		 22.49%
22.43%		 20.00%
20.00%		 20.29%
20.22%
         
Continuing & Discontinued Operations        
PE Ratio - Adjusted 9.9 8.4 7.5 7.8
PE Ratio - Diluted 9.9
1.0		 8.4
0.8		 7.5
0.8		 7.9
0.8
PEG - Adjusted 0.7 n/a n/a n/a
PEG - Diluted 0.7
0.1		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Net Gearing n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Price/Book Value 0.2 0.1 0.1 0.2
Price/Tangible Book Value 0.2 0.1 0.1 0.2
Price/ Cash Flow 1.3 0.8 0.8 0.7
Price/Revenue 0.18 0.15 0.12 0.13
Price/R&D n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 477.26p 409.05p 363.95p 330.68p
Net Cash per Share n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Continuing Operations        
Revenue 52.83 46.95 53.36 51.78
EBITDA 13.01
12.96		 12.04
12.01		 8.79
8.79		 8.60
8.56
Depreciation (1.65)
(1.65)		 (1.48)
(1.48)		 1.88
1.88		 1.91
1.91
Net Interest 0.26
0.26		 0.17
0.17		 0.88
0.88		 1.21
1.21
Profit Before Tax 11.61
11.56		 10.70
10.67		 11.55
11.55		 11.72
11.68
         
Revenue per Share 450.66p 400.48p 449.70p 434.80p
Pre-Tax Profit per Share 99.06p
98.65p		 91.27p
91.00p		 97.32p
97.32p		 98.41p
98.10p
Market Capitalisation £ (Millions) 9.35 6.92 6.40 6.85
Enterprise Value (EV) £ (Millions) (8.48) (9.53) (8.48) (6.86)
EBITDA/EV (153.52%)
(152.95%)		 (126.38%)
(126.05%)		 (103.74%)
(103.74%)		 (125.33%)
(124.79%)
Operating Margin 21.51%
21.42%		 22.49%
22.43%		 20.00%
20.00%		 20.29%
20.22%
Capital Employed £ (Millions) 56.75 48.74 43.94 40.23
Return on Capital Employed 19.81%
19.92%		 21.73%
21.55%		 24.28%
24.28%		 26.12%
26.02%
Invested Equity Capital £ (Millions) 59.29 51.42 46.51 42.52
         
Earnings per Share - Basic 7.18p
71.34p		 6.61p
65.81p		 7.14p
71.43p		 7.33p
73.00p
Earnings per Share - Diluted 7.18p
71.34p		 6.61p
65.81p		 7.14p
71.43p		 7.32p
72.86p
Earnings per Share - Adjusted 7.18p 6.61p 7.14p 7.33p
Earnings per Share Growth - Basic 9%
8%		 -7%
-8%		 -3%
-2%		 n/a
n/a
Earnings per Share Growth - Diluted 9%
8%		 -7%
-8%		 -2%
-2%		 n/a
n/a
Earnings per Share Growth - Adjusted 9% -7% -3% n/a
PE Ratio - Diluted 11.1
1.1		 8.9
0.9		 7.5
0.8		 7.9
0.8
PEG - Diluted 1.2
0.1		 n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 27.54% 27.54% 26.60% 25.50%
Dividend Cover 4.08
40.54		 3.96
39.41		 4.41
44.09		 4.58
45.63
Interest Cover n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
         
Continuing & Discontinued Operations        
Earnings per Share - Basic 8.03p
79.86p		 7.01p
69.82p		 7.14p
71.43p		 7.33p
73.00p
Earnings per Share - Diluted 8.03p
79.86p		 7.01p
69.82p		 7.14p
71.43p		 7.32p
72.86p
Earnings per Share - Adjusted 8.03p 7.01p 7.14p 7.33p
Earnings per Share Growth - Basic 15%
14%		 -2%
-2%		 -3%
-2%		 n/a
n/a
Earnings per Share Growth - Diluted 15%
14%		 -2%
-2%		 -2%
-2%		 n/a
n/a
Earnings per Share Growth - Adjusted 15% -2% -3% n/a
PE Ratio - Diluted 9.9
1.0		 8.4
0.8		 7.5
0.8		 7.9
0.8
PEG - Diluted 0.7
0.1		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 4.56
45.38		 4.20
41.81		 4.41
44.09		 4.58
45.63
Return on Equity (ROE) 15.87%
15.79%		 15.98%
15.92%		 18.22%
18.22%		 20.53%
20.45%
Operating Cash Flow per Share 59.37p 72.14p 63.35p 84.12p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 46.76p 13.84p 3.56p 25.14p
Capital Expenditure per Share n/a n/a n/a n/a
Dividend per Share 1.76p 1.67p 1.62p 1.60p
Dividend per Share Growth 5.39% 3.09% 1.25% n/a
Dividend Yield 2.2% 2.8% 3.0% 2.8%
Shareholders Funds 58.49 50.64 45.76 41.67
Net Borrowings £ (Millions) (14.24) (8.75) (7.13) (6.71)
Net Asset Value per Share (inc. Intangibles) 477.26p 409.05p 363.95p 330.68p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Shareholders' Funds inc Intangibles 58.49 50.64 45.76 41.67
Net Borrowings £ (Millions) (14.24) (8.75) (7.13) (6.71)
Net Gearing n/a n/a n/a n/a
Cash & Near Cash 14.24 8.75 7.13 6.71
Cash 24.34% 17.29% 15.59% 16.10%
Gross Borrowings n/a n/a n/a n/a
Gross Gearing n/a n/a n/a n/a
Borrowings Under 5 years n/a n/a n/a n/a
Under 5 years n/a n/a n/a n/a
Borrowings Under 1 year n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Shareholders' Funds exc Intangibles 55.95 47.96 43.18 39.38
Net Borrowings £ (Millions) (14.24) (8.75) (7.13) (6.71)
Net Gearing n/a n/a n/a n/a
Cash & Near Cash 14.24 8.75 7.13 6.71
Cash 25.44% 18.25% 16.52% 17.04%
Gross Borrowings n/a n/a n/a n/a
Gross Gearing n/a n/a n/a n/a
Borrowings Under 5 years n/a n/a n/a n/a
Under 5 years n/a n/a n/a n/a
Borrowings Under 1 year n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 30-Jun-11 30-Jun-10 30-Jun-09 30-Jun-08
Quick Ratio 3.81 3.63 3.84 3.33
Current Ratio 4.80 4.77 5.13 4.26

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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