HARGREAVES LANSDOWN PLC |
Real-time Estimate
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1,080 GBX | +2.27% |
|
+0.28% | +46.39% |
| May. 31 | UK-based CFO leaves Flutter as US becomes primary listing | AN |
| May. 31 | Hargreaves Lansdown plc(LSE:HL.) added to FTSE 100 Index | CI |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 9,094 | 7,718 | 7,528 | 3,733 | 3,867 | 5,002 | - | - |
| Enterprise Value (EV) 1 | 8,915 | 7,482 | 7,082 | 3,245 | 3,494 | 4,452 | 4,390 | 4,337 |
| P/E ratio | 36.9 x | 24.7 x | 25.4 x | 17.3 x | 12 x | 17.5 x | 17.3 x | 16.9 x |
| Yield | 2.19% | 3.37% | 3.18% | 5.04% | 5.09% | 4.14% | 4.49% | 4.66% |
| Capitalization / Revenue | 18.9 x | 14 x | 11.9 x | 6.4 x | 5.26 x | 6.62 x | 6.52 x | 6.23 x |
| EV / Revenue | 18.6 x | 13.6 x | 11.2 x | 5.57 x | 4.75 x | 5.89 x | 5.72 x | 5.41 x |
| EV / EBITDA | 28.7 x | 21.3 x | 18.6 x | 11.3 x | 8.02 x | 10.6 x | 10.7 x | 10.3 x |
| EV / FCF | 35.1 x | 28.8 x | 21.9 x | 12.5 x | 16.5 x | 15.8 x | 14.8 x | 12.7 x |
| FCF Yield | 2.85% | 3.47% | 4.56% | 8.02% | 6.06% | 6.34% | 6.77% | 7.88% |
| Price to Book | 19.9 x | 13.8 x | 12.7 x | 6.49 x | 5.45 x | 6.59 x | 6.05 x | 5.31 x |
| Nbr of stocks (in thousands) | 473,910 | 473,905 | 473,742 | 473,868 | 474,121 | 473,876 | - | - |
| Reference price 2 | 19.19 | 16.28 | 15.89 | 7.878 | 8.156 | 10.56 | 10.56 | 10.56 |
| Announcement Date | 8/8/19 | 8/7/20 | 8/9/21 | 8/5/22 | 9/19/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 480.5 | 550.9 | 631 | 583 | 735.1 | 755.3 | 767 | 802.4 |
| EBITDA 1 | 311.1 | 351.3 | 381.2 | 286.1 | 435.8 | 418.2 | 410.6 | 419.2 |
| EBIT 1 | 301.1 | 337.7 | 365 | 270 | 420.5 | 391.5 | 384.8 | 405.8 |
| Operating Margin | 62.66% | 61.3% | 57.84% | 46.31% | 57.2% | 51.83% | 50.17% | 50.57% |
| Earnings before Tax (EBT) 1 | 305.8 | 378.3 | 366 | 269.2 | 402.7 | 382 | 393.6 | 405.1 |
| Net income 1 | 247.4 | 313.1 | 296.7 | 216.3 | 323.8 | 283.9 | 294.5 | 312.5 |
| Net margin | 51.49% | 56.83% | 47.02% | 37.1% | 44.05% | 37.58% | 38.4% | 38.95% |
| EPS 2 | 0.5200 | 0.6590 | 0.6250 | 0.4560 | 0.6820 | 0.6044 | 0.6107 | 0.6247 |
| Free Cash Flow 1 | 253.9 | 259.6 | 323.2 | 260.1 | 211.8 | 282.4 | 297 | 342 |
| FCF margin | 52.84% | 47.12% | 51.22% | 44.61% | 28.81% | 37.39% | 38.73% | 42.62% |
| FCF Conversion (EBITDA) | 81.61% | 73.9% | 84.78% | 90.91% | 48.6% | 67.53% | 72.35% | 81.58% |
| FCF Conversion (Net income) | 102.63% | 82.91% | 108.93% | 120.25% | 65.41% | 99.49% | 100.86% | 109.42% |
| Dividend per Share 2 | 0.4200 | 0.5490 | 0.5050 | 0.3970 | 0.4150 | 0.4372 | 0.4737 | 0.4915 |
| Announcement Date | 8/8/19 | 8/7/20 | 8/9/21 | 8/5/22 | 9/19/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2020 S2 | 2021 S1 | 2022 S1 | 2022 Q3 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 257.9 | 293 | 299.5 | 291.1 | 146 | - | 350 | - | 368.2 |
| EBITDA | - | 174.8 | - | 158.7 | - | - | - | - | - |
| EBIT | - | 168 | 187.5 | 163.5 | - | - | 203.9 | - | 207.2 |
| Operating Margin | - | 57.34% | 62.6% | 56.17% | - | - | 58.26% | - | 56.27% |
| Earnings before Tax (EBT) | - | 207.2 | 188.4 | 151.2 | - | - | - | - | 182.5 |
| Net income | - | 173.9 | 152.2 | 122.2 | - | - | - | - | - |
| Net margin | - | 59.35% | 50.82% | 41.98% | - | - | - | - | - |
| EPS | - | - | 0.3210 | 0.2570 | - | - | 0.3310 | - | - |
| Dividend per Share | 0.1120 | 0.4370 | 0.1190 | 0.1226 | - | 0.2744 | - | 0.2880 | - |
| Announcement Date | 1/31/20 | 8/7/20 | 2/1/21 | 2/22/22 | 5/5/22 | 8/5/22 | 2/15/23 | 9/19/23 | 2/22/24 |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 179 | 236 | 445 | 488 | 373 | 550 | 612 | 664 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 254 | 260 | 323 | 260 | 212 | 282 | 297 | 342 |
| ROE (net income / shareholders' equity) | 57.4% | 61.6% | 51.5% | 37% | 54.9% | 41.1% | 35.3% | 32.1% |
| ROA (Net income/ Total Assets) | 28% | 27.8% | 22.3% | 17.6% | 29.9% | 23.3% | 20.6% | 17% |
| Assets 1 | 882.4 | 1,125 | 1,330 | 1,230 | 1,084 | 1,220 | 1,428 | 1,835 |
| Book Value Per Share 2 | 0.9700 | 1.180 | 1.250 | 1.210 | 1.500 | 1.600 | 1.750 | 1.990 |
| Cash Flow per Share 2 | 0.5500 | 0.5600 | 0.6900 | 0.5500 | 0.4500 | 0.7600 | 0.7700 | 0.8300 |
| Capex 1 | 7.6 | 5.8 | 5.4 | 2.8 | 22.7 | 24.4 | 26.9 | 17.2 |
| Capex / Sales | 1.58% | 1.05% | 0.86% | 0.48% | 3.09% | 3.23% | 3.51% | 2.14% |
| Announcement Date | 8/8/19 | 8/7/20 | 8/9/21 | 8/5/22 | 9/19/23 | - | - | - |
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
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
16
Last Close Price
10.56
GBP
Average target price
9.361
GBP
Spread / Average Target
-11.32%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +46.39% | 6.36B | |
| -7.96% | 91.48B | |
| +24.13% | 91.26B | |
| +17.87% | 27.29B | |
| +1.12% | 18.82B | |
| +10.88% | 15.58B | |
| +5.63% | 15.46B | |
| -20.78% | 12.42B | |
| +27.03% | 9.94B | |
| +20.84% | 9.36B |
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- Financials Hargreaves Lansdown plc
