SPIRAX-SARCO ENGINEERING PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 8,980 GBX | +1.47% |
|
-2.55% | -14.52% |
| Apr. 15 | Jefferies Reduces Spirax-Sarco Engineering PT, Keeps Hold Rating | MT |
| Apr. 15 | UBS raises Crest Nicholson; Stifel cuts CRH | AN |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,545 | 8,320 | 11,830 | 7,816 | 7,731 | 6,613 | - | - |
| Enterprise Value (EV) 1 | 6,840 | 8,583 | 12,020 | 8,572 | 8,495 | 7,323 | 7,226 | 7,156 |
| P/E ratio | 39.4 x | 48.1 x | 50.6 x | 34.9 x | 42.2 x | 31.3 x | 26.9 x | 23.8 x |
| Yield | 1.24% | 1.04% | 0.85% | 1.43% | 1.52% | 1.83% | 2.01% | 2.23% |
| Capitalization / Revenue | 5.27 x | 6.97 x | 8.8 x | 4.85 x | 4.59 x | 3.79 x | 3.56 x | 3.36 x |
| EV / Revenue | 5.51 x | 7.19 x | 8.94 x | 5.32 x | 5.05 x | 4.2 x | 3.89 x | 3.63 x |
| EV / EBITDA | 21.6 x | 27.9 x | 31.9 x | 19 x | 21.6 x | 16.7 x | 14.9 x | 13.5 x |
| EV / FCF | 41.5 x | 30.2 x | 41.4 x | 62.7 x | 39.6 x | 44.9 x | 35.6 x | 26.1 x |
| FCF Yield | 2.41% | 3.31% | 2.42% | 1.6% | 2.52% | 2.23% | 2.81% | 3.83% |
| Price to Book | 7.94 x | 9.74 x | 11.7 x | 6.68 x | 6.7 x | 5.41 x | 4.97 x | 4.54 x |
| Nbr of stocks (in thousands) | 73,620 | 73,657 | 73,706 | 73,632 | 73,596 | 73,636 | - | - |
| Reference price 2 | 88.90 | 113.0 | 160.5 | 106.2 | 105.0 | 89.80 | 89.80 | 89.80 |
| Announcement Date | 3/11/20 | 3/10/21 | 3/10/22 | 3/9/23 | 3/7/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,242 | 1,193 | 1,344 | 1,611 | 1,683 | 1,745 | 1,860 | 1,969 |
| EBITDA 1 | 317 | 307.1 | 376.5 | 451.3 | 393.3 | 438.8 | 484.4 | 528.4 |
| EBIT 1 | 282.7 | 270.4 | 340.3 | 380.2 | 349.1 | 365.4 | 408 | 448.1 |
| Operating Margin | 22.75% | 22.66% | 25.31% | 23.61% | 20.75% | 20.94% | 21.94% | 22.76% |
| Earnings before Tax (EBT) 1 | 236.8 | 240.1 | 314.5 | 308.1 | 244.5 | 297.1 | 344.5 | 391.5 |
| Net income 1 | 166.6 | 173.6 | 234.6 | 224.7 | 183.6 | 213 | 246.4 | 276.9 |
| Net margin | 13.41% | 14.55% | 17.45% | 13.95% | 10.91% | 12.2% | 13.25% | 14.06% |
| EPS 2 | 2.255 | 2.348 | 3.175 | 3.044 | 2.489 | 2.873 | 3.340 | 3.776 |
| Free Cash Flow 1 | 165 | 284.2 | 290.6 | 136.8 | 214.3 | 163.3 | 203.2 | 273.9 |
| FCF margin | 13.28% | 23.81% | 21.61% | 8.49% | 12.74% | 9.36% | 10.93% | 13.91% |
| FCF Conversion (EBITDA) | 52.05% | 92.54% | 77.18% | 30.31% | 54.49% | 37.21% | 41.96% | 51.84% |
| FCF Conversion (Net income) | 99.04% | 163.71% | 123.87% | 60.88% | 116.72% | 76.67% | 82.47% | 98.91% |
| Dividend per Share 2 | 1.100 | 1.180 | 1.360 | 1.520 | 1.600 | 1.647 | 1.807 | 2.001 |
| Announcement Date | 3/11/20 | 3/10/21 | 3/10/22 | 3/9/23 | 3/7/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 651.2 | 569.7 | 623.7 | 643.7 | 700.8 | 750.1 | 860.5 | 850.8 | 831.8 | 808 | 870 |
| EBITDA | - | - | - | - | 190.1 | - | - | - | - | - | - |
| EBIT 1 | 153.5 | 119 | 151.4 | 162.9 | 177.4 | 178.8 | 201.4 | 171.7 | 177.4 | 157 | 185 |
| Operating Margin | 23.57% | 20.89% | 24.27% | 25.31% | 25.31% | 23.84% | 23.4% | 20.18% | 21.33% | 19.43% | 21.26% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share 2 | 0.7800 | 0.3350 | 0.8450 | 0.3850 | 0.9750 | 0.4250 | 1.095 | 0.4600 | 1.140 | 0.5000 | 1.230 |
| Announcement Date | 3/11/20 | 8/12/20 | 3/10/21 | 8/11/21 | 3/10/22 | 8/11/22 | 3/9/23 | 8/10/23 | 3/7/24 | - | - |
1GBP in Million2GBP
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 295 | 263 | 191 | 756 | 763 | 711 | 614 | 544 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.9312 x | 0.8561 x | 0.5062 x | 1.674 x | 1.941 x | 1.619 x | 1.268 x | 1.029 x |
| Free Cash Flow 1 | 165 | 284 | 291 | 137 | 214 | 163 | 203 | 274 |
| ROE (net income / shareholders' equity) | 24.6% | 22.5% | 25.2% | 25.5% | 19.8% | 19.4% | 20.2% | 20.3% |
| ROA (Net income/ Total Assets) | 12.1% | 10.5% | 13% | 12% | 8.37% | 8.79% | 9.68% | 9.8% |
| Assets 1 | 1,382 | 1,652 | 1,802 | 1,880 | 2,193 | 2,423 | 2,546 | 2,826 |
| Book Value Per Share 2 | 11.20 | 11.60 | 13.70 | 15.90 | 15.70 | 16.60 | 18.10 | 19.80 |
| Cash Flow per Share 2 | 3.080 | 4.480 | 4.760 | 3.270 | 4.050 | 4.100 | 4.510 | 5.090 |
| Capex 1 | 62.4 | 46.9 | 60.9 | 104 | 84.3 | 120 | 117 | 102 |
| Capex / Sales | 5.02% | 3.93% | 4.53% | 6.48% | 5.01% | 6.9% | 6.31% | 5.18% |
| Announcement Date | 3/11/20 | 3/10/21 | 3/10/22 | 3/9/23 | 3/7/24 | - | - | - |
1GBP in Million2GBP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
89.8
GBP
Average target price
98.65
GBP
Spread / Average Target
+9.86%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -14.52% | 8.24B | |
| +11.73% | 82.35B | |
| +20.17% | 71.09B | |
| +20.89% | 37.72B | |
| +15.77% | 32.01B | |
| +9.19% | 27.2B | |
| +3.18% | 26.74B | |
| +4.22% | 26B | |
| +16.93% | 25.5B | |
| +17.14% | 24.76B |
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