WH SMITH PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,120 GBX | -5.25% |
|
-9.53% | -16.04% |
| Apr. 26 | WHP Global Signs Exclusive Partnership with WHSmith for Toys"R"Us® Shop-In-Shops in the UK | CI |
| Apr. 26 | Peel Hunt cuts ConvaTec to 'reduce' | AN |
Valuation
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,106 | 1,537 | 2,133 | 1,867 | 1,911 | 1,455 | - | - |
| Enterprise Value (EV) 1 | 2,272 | 1,829 | 2,888 | 2,736 | 2,806 | 2,367 | 2,359 | 2,328 |
| P/E ratio | 20.1 x | -5.91 x | -26.1 x | 40.2 x | 24.5 x | 12.6 x | 11.3 x | 10.9 x |
| Yield | 2.97% | - | - | 0.64% | 1.97% | 3.16% | 3.6% | 4.01% |
| Capitalization / Revenue | 1.51 x | 1.5 x | 2.41 x | 1.33 x | 1.07 x | 0.75 x | 0.7 x | 0.66 x |
| EV / Revenue | 1.63 x | 1.79 x | 3.26 x | 1.95 x | 1.57 x | 1.22 x | 1.14 x | 1.06 x |
| EV / EBITDA | 10.9 x | 261 x | 126 x | 16.4 x | 11.8 x | 6.56 x | 6.01 x | 5.52 x |
| EV / FCF | 20.8 x | -44.6 x | 206 x | 342 x | 200 x | 40.8 x | 31.5 x | 24.9 x |
| FCF Yield | 4.8% | -2.24% | 0.48% | 0.29% | 0.5% | 2.45% | 3.18% | 4.01% |
| Price to Book | 9.01 x | 6.36 x | 12.4 x | 6.4 x | 6.11 x | 3.54 x | 2.9 x | 2.4 x |
| Nbr of stocks (in thousands) | 107,583 | 130,550 | 130,705 | 130,606 | 130,289 | 129,881 | - | - |
| Reference price 2 | 19.58 | 11.77 | 16.32 | 14.30 | 14.67 | 11.20 | 11.20 | 11.20 |
| Announcement Date | 10/17/19 | 11/12/20 | 11/11/21 | 11/10/22 | 11/9/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,397 | 1,021 | 886 | 1,400 | 1,793 | 1,941 | 2,072 | 2,189 |
| EBITDA 1 | 209 | 7 | 23 | 167 | 238 | 360.7 | 392.5 | 421.4 |
| EBIT 1 | 160 | -48 | -27 | 117 | 182 | 199.1 | 220.8 | 242.6 |
| Operating Margin | 11.45% | -4.7% | -3.05% | 8.36% | 10.15% | 10.26% | 10.66% | 11.08% |
| Earnings before Tax (EBT) 1 | 135 | -280 | -116 | 63 | 110 | 166 | 195.2 | 223.3 |
| Net income 1 | 108 | -239 | -82 | 47 | 79 | 115.9 | 137.4 | 148.2 |
| Net margin | 7.73% | -23.41% | -9.26% | 3.36% | 4.41% | 5.97% | 6.63% | 6.77% |
| EPS 2 | 0.9720 | -1.992 | -0.6260 | 0.3560 | 0.5980 | 0.8863 | 0.9897 | 1.023 |
| Free Cash Flow 1 | 109 | -41 | 14 | 8 | 14 | 58 | 75 | 93.33 |
| FCF margin | 7.8% | -4.02% | 1.58% | 0.57% | 0.78% | 2.99% | 3.62% | 4.26% |
| FCF Conversion (EBITDA) | 52.15% | - | 60.87% | 4.79% | 5.88% | 16.08% | 19.11% | 22.15% |
| FCF Conversion (Net income) | 100.93% | - | - | 17.02% | 17.72% | 50.06% | 54.6% | 62.97% |
| Dividend per Share 2 | 0.5820 | - | - | 0.0910 | 0.2890 | 0.3541 | 0.4028 | 0.4495 |
| Announcement Date | 10/17/19 | 11/12/20 | 11/11/21 | 11/10/22 | 11/9/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: August | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 747 | 274 | 420 | 466 | 608 | 792 | 859 | 934 | 990.9 | 986.7 | 1,065 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 88 | -136 | -28 | 1 | 34 | 83 | 68 | - | - | - | - |
| Operating Margin | 11.78% | -49.64% | -6.67% | 0.21% | 5.59% | 10.48% | 7.92% | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | -78 | 14 | - | 45 | - | - | - | - |
| Net income | - | - | - | - | 9 | - | 32 | - | - | - | - |
| Net margin | - | - | - | - | 1.48% | - | 3.73% | - | - | - | - |
| EPS | - | - | - | -0.3590 | 0.0690 | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | 0.0910 | - | - | - | - | - |
| Announcement Date | 5/14/20 | 11/12/20 | 4/28/21 | 11/11/21 | 4/27/22 | 11/10/22 | 4/20/23 | 11/9/23 | - | - | - |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 166 | 292 | 755 | 869 | 895 | 912 | 904 | 873 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.7943 x | 41.71 x | 32.83 x | 5.204 x | 3.761 x | 2.529 x | 2.304 x | 2.072 x |
| Free Cash Flow 1 | 109 | -41 | 14 | 8 | 14 | 58 | 75 | 93.3 |
| ROE (net income / shareholders' equity) | 56.6% | -22.8% | -41.5% | 26.9% | 25.8% | 31.5% | 27.6% | 25% |
| ROA (Net income/ Total Assets) | 19.9% | -4.74% | -5.86% | 4.14% | 4.73% | 6.43% | 6.42% | 6.34% |
| Assets 1 | 541.7 | 5,040 | 1,399 | 1,135 | 1,671 | 1,803 | 2,138 | 2,336 |
| Book Value Per Share 2 | 2.170 | 1.850 | 1.320 | 2.230 | 2.400 | 3.170 | 3.870 | 4.670 |
| Cash Flow per Share 2 | 1.370 | 0.0100 | 0.7600 | 1.420 | 1.900 | 2.540 | 2.110 | 2.470 |
| Capex 1 | 59 | 79 | 37 | 83 | 122 | 140 | 132 | 135 |
| Capex / Sales | 4.22% | 7.74% | 4.18% | 5.93% | 6.8% | 7.21% | 6.38% | 6.15% |
| Announcement Date | 10/17/19 | 11/12/20 | 11/11/21 | 11/10/22 | 11/9/23 | - | - | - |
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
BUY
Number of Analysts
13
Last Close Price
11.2
GBP
Average target price
17.02
GBP
Spread / Average Target
+51.93%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -16.04% | 1.81B | |
| +46.67% | 210M | |
| +55.63% | 69.24M |
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