TP Icap Group (TCAP)

Sector:

Financials

Index:

FTSE 250

203.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 227.50p
  • 52 Week Low: 141.00p
  • Currency: UK Pounds
  • Shares Issued: 771.01m
  • Volume: 20,260
  • Market Cap: £1,565.15m

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Annualisation Factor 1.0 1.0 n/a 1.0 1.0
Dividend Yield 7.6% 7.1% 6.2% 3.6% 4.6%
           
Continuing Operations          
PE Ratio - Adjusted 6.7 7.0 7.8 7.2 10.8
PE Ratio - Diluted 21.0
10.2		 13.4
6.4		 218.1
7.9		 14.0
7.3		 30.6
10.9
PEG - Adjusted 0.4 0.3 n/a n/a n/a
PEG - Diluted n/a
n/a		 0.0
0.2		 n/a
n/a		 0.5
n/a		 0.3
n/a
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 5.29%
5.29%		 6.71%
12.01%		 5.20%
12.49%		 9.92%
15.27%		 8.57%
16.04%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 6.7 7.0 775.8 7.2 10.8
PE Ratio - Diluted 21.0
10.2		 13.4
6.4		 21,611.1
785.2		 14.0
7.3		 30.6
10.9
PEG - Adjusted 0.4 0.0 n/a n/a 0.0
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 0.5
n/a		 0.0
0.0

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Gearing 2.88% 8.63% 18.26% 16.74% 8.94%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Price/Book Value 4.3 4.8 9.3 7.5 12.9
Price/Tangible Book Value 4.6 5.1 10.7 8.4 14.6
Price/ Cash Flow 5.6 4.2 10.4 9.2 13.8
Price/Revenue 0.69 0.64 61.59 0.74 1.11
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 45.00p 36.45p 16.46p 28.32p 28.25p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 2,191.00 2,115.00 18.83 1,794.00 1,833.00
EBITDA 116.00
116.00		 142.00
254.00		 2.49
3.87		 234.00
330.00		 157.00
294.00
Depreciation n/a
n/a		 n/a
n/a		 (1.51)
(1.51)		 (56.00)
(56.00)		 n/a
n/a
Net Interest n/a
49.00		 n/a
1.00		 (0.74)
(0.57)		 (49.00)
(49.00)		 (49.00)
(49.00)
Profit Before Tax 116.00
136.00		 142.00
255.00		 0.31
1.97		 145.00
241.00		 108.00
245.00
           
Revenue per Share 281.73p 271.47p 2.48p 287.04p 327.67p
Pre-Tax Profit per Share 14.92p
17.49p		 18.23p
32.73p		 0.041p
0.26p		 23.20p
38.56p		 19.31p
43.80p
Market Capitalisation £ (Millions) 1,540.27 1,376.23 1,204.30 1,195.98 2,052.04
Enterprise Value (EV) £ (Millions) 2,059.27 2,185.23 2,188.30 1,746.98 2,881.04
EBITDA/EV 5.63%
5.63%		 6.50%
11.62%		 0.11%
0.18%		 13.39%
18.89%		 5.45%
10.20%
Operating Margin 5.29%
5.29%		 6.71%
12.01%		 5.20%
12.49%		 9.92%
15.27%		 8.57%
16.04%
Capital Employed £ (Millions) 1,520.00 1,473.00 1,412.00 1,216.00 1,096.00
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) 2,130.00 2,259.00 2,106.00 1,781.00 1,821.00
           
Earnings per Share - Basic 9.50p
19.55p		 13.20p
27.72p		 0.70p
19.49p		 15.40p
29.60p		 12.00p
33.79p
Earnings per Share - Diluted 9.30p
19.14p		 13.00p
27.32p		 0.70p
19.27p		 15.20p
29.24p		 11.90p
33.53p
Earnings per Share - Adjusted 29.20p 24.90p 19.50p 29.30p 33.80p
Earnings per Share Growth - Basic -28%
-30%		 1,786%
42%		 -96%
-34%		 28%
-12%		 110%
-1%
Earnings per Share Growth - Diluted -28%
-30%		 1,757%
42%		 -95%
-34%		 28%
-13%		 109%
-1%
Earnings per Share Growth - Adjusted 17% 28% -33% -13% -1%
PE Ratio - Diluted 21.0
10.2		 13.4
6.4		 218.1
7.9		 14.0
7.3		 30.6
10.9
PEG - Diluted n/a
n/a		 0.0
0.2		 n/a
n/a		 0.5
n/a		 0.3
n/a
Tax Rate 34.48% 25.35% 95.83% 37.21% n/a
Dividend Cover 1.97
1.32		 2.01
2.24		 2.05
2.05		 3.86
3.89		 2.01
2.01
Interest Cover n/a
n/a		 n/a
n/a		 1.41
3.57		 3.79
5.63		 2.96
5.45
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 9.50p
19.55p		 13.20p
27.72p		 0.007p
0.20p		 15.40p
29.60p		 12.00p
33.79p
Earnings per Share - Diluted 9.30p
19.14p		 13.00p
27.32p		 0.007p
0.19p		 15.20p
29.24p		 11.90p
33.53p
Earnings per Share - Adjusted 29.20p 24.90p 0.20p 29.30p 33.80p
Earnings per Share Growth - Basic -28%
-30%		 186,715%
13,991%		 -100%
-99%		 28%
-12%		 743%
295%
Earnings per Share Growth - Diluted -28%
-30%		 183,884%
13,949%		 -100%
-99%		 28%
-13%		 736%
296%
Earnings per Share Growth - Adjusted 17% 12,550% -99% -13% 296%
PE Ratio - Diluted 21.0
10.2		 13.4
6.4		 21,611.1
785.2		 14.0
7.3		 30.6
10.9
PEG - Diluted n/a
n/a		 0.0
0.0		 n/a
n/a		 0.5
n/a		 0.0
0.0
Dividend Cover 1.97
1.32		 2.01
2.24		 0.02
0.02		 3.86
3.89		 2.01
2.01
Return on Equity (ROE) 3.47%
7.14%		 4.56%
9.56%		 n/a
0.07%		 5.39%
10.39%		 3.68%
10.38%
Operating Cash Flow per Share 34.72p 41.59p 14.62p 23.04p 26.46p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 21.99p 10.65p 0.16p (2.24p) 3.93p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 14.80p 12.40p 9.50p 7.60p 16.85p
Dividend per Share Growth 19.35% 30.53% 25.00% (54.90%) n/a
Dividend Yield 7.6% 7.1% 6.2% 3.6% 4.6%
Shareholders Funds 2,048.00 2,143.00 1,961.00 1,679.00 1,712.00
Net Borrowings £ (Millions) 59.00 185.00 358.00 281.00 153.00
Net Asset Value per Share (inc. Intangibles) 42.82p 34.14p 14.22p 25.28p 25.03p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds inc Intangibles 2,048.00 2,143.00 1,961.00 1,679.00 1,712.00
Net Borrowings £ (Millions) 59.00 185.00 358.00 281.00 153.00
Net Gearing 2.88% 8.63% 18.26% 16.74% 8.94%
Cash & Near Cash 1,029.00 888.00 784.00 656.00 676.00
Cash 50.24% 41.44% 39.98% 39.07% 39.49%
Gross Borrowings 1,088.00 1,073.00 1,142.00 937.00 829.00
Gross Gearing 53.13% 50.07% 58.24% 55.81% 48.42%
Borrowings Under 5 years 1,088.00 1,073.00 1,142.00 937.00 829.00
Under 5 years 53.13% 50.07% 58.24% 55.81% 48.42%
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-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Shareholders' Funds exc Intangibles 333.00 266.00 108.00 158.00 140.00
Net Borrowings £ (Millions) 59.00 185.00 358.00 281.00 153.00
Net Gearing 17.72% 69.55% 331.48% 177.85% 109.29%
Cash & Near Cash 1,029.00 888.00 784.00 656.00 676.00
Cash 309.01% 333.83% 725.93% 415.19% 482.86%
Gross Borrowings 1,088.00 1,073.00 1,142.00 937.00 829.00
Gross Gearing 326.73% 403.38% 1,057.41% 593.04% 592.14%
Borrowings Under 5 years 1,088.00 1,073.00 1,142.00 937.00 829.00
Under 5 years 326.73% 403.38% 1,057.41% 593.04% 592.14%
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-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Quick Ratio n/a n/a n/a n/a n/a
Current Ratio 1.32 1.42 1.39 1.39 1.02

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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