MITCHELLS & BUTLERS PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 266 GBX | +0.95% |
|
+5.14% | +3.18% |
| May. 09 | NatWest target raised, other lenders backed | AN |
| Mar. 06 | Trouble-free UK budget reaffirms market bets for rate cuts | RE |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,635 | 577.3 | 1,408 | 684.5 | 1,342 | 1,579 | - | - |
| Enterprise Value (EV) 1 | 3,254 | 2,481 | 3,219 | 2,364 | 2,975 | 3,135 | 3,022 | 2,888 |
| P/E ratio | 11.5 x | -5.17 x | -20.6 x | 52.3 x | -323 x | 12.1 x | 10.3 x | 9.12 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.73 x | 0.39 x | 1.32 x | 0.31 x | 0.54 x | 0.61 x | 0.59 x | 0.57 x |
| EV / Revenue | 1.45 x | 1.68 x | 3.02 x | 1.07 x | 1.19 x | 1.21 x | 1.12 x | 1.04 x |
| EV / EBITDA | 7.46 x | 9.81 x | 19.2 x | 6.34 x | 8.29 x | 7.57 x | 6.79 x | 6.19 x |
| EV / FCF | 13 x | 108 x | -805 x | 19.5 x | 32.7 x | 38.2 x | 28.7 x | 22.7 x |
| FCF Yield | 7.68% | 0.93% | -0.12% | 5.12% | 3.06% | 2.62% | 3.49% | 4.4% |
| Price to Book | 0.84 x | 0.35 x | 0.67 x | 0.32 x | 0.63 x | 0.7 x | 0.65 x | 0.61 x |
| Nbr of stocks (in thousands) | 426,954 | 426,385 | 594,391 | 594,716 | 593,880 | 593,751 | - | - |
| Reference price 2 | 3.830 | 1.354 | 2.368 | 1.151 | 2.260 | 2.660 | 2.660 | 2.660 |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,237 | 1,475 | 1,065 | 2,208 | 2,503 | 2,597 | 2,692 | 2,772 |
| EBITDA 1 | 436 | 253 | 168 | 373 | 359 | 414.3 | 444.9 | 466.6 |
| EBIT 1 | 317 | 99 | 29 | 240 | 221 | 276.9 | 304.6 | 323.1 |
| Operating Margin | 14.17% | 6.71% | 2.72% | 10.87% | 8.83% | 10.66% | 11.32% | 11.65% |
| Earnings before Tax (EBT) 1 | 177 | -123 | -42 | 8 | -13 | 171 | 201.7 | 227.2 |
| Net income 1 | 143 | -112 | -65 | 13 | -4 | 128.5 | 150.3 | 169.4 |
| Net margin | 6.39% | -7.59% | -6.1% | 0.59% | -0.16% | 4.95% | 5.58% | 6.11% |
| EPS 2 | 0.3330 | -0.2620 | -0.1150 | 0.0220 | -0.007000 | 0.2203 | 0.2594 | 0.2916 |
| Free Cash Flow 1 | 250 | 23 | -4 | 121 | 91 | 82.11 | 105.3 | 127.1 |
| FCF margin | 11.18% | 1.56% | -0.38% | 5.48% | 3.64% | 3.16% | 3.91% | 4.58% |
| FCF Conversion (EBITDA) | 57.34% | 9.09% | - | 32.44% | 25.35% | 19.82% | 23.68% | 27.24% |
| FCF Conversion (Net income) | 174.83% | - | - | 930.77% | - | 63.89% | 70.11% | 75% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2019 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 |
|---|---|---|---|---|---|---|
| Net sales 1 | 1,051 | 1,159 | - | 1,282 | - | 1,359 |
| EBITDA | 219 | - | 183 | - | - | - |
| EBIT 1 | 166 | 120 | 120 | 100 | 121 | 127 |
| Operating Margin | 15.79% | 10.35% | - | 7.8% | - | 9.35% |
| Earnings before Tax (EBT) | - | - | - | - | - | - |
| Net income | - | - | - | 32 | - | - |
| Net margin | - | - | - | 2.5% | - | - |
| EPS | - | - | - | 0.0540 | - | - |
| Dividend per Share | - | - | - | - | - | - |
| Announcement Date | 11/20/19 | 5/18/22 | 12/7/22 | 5/17/23 | 11/30/23 | - |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,619 | 1,904 | 1,811 | 1,679 | 1,633 | 1,556 | 1,443 | 1,309 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.713 x | 7.526 x | 10.78 x | 4.501 x | 4.549 x | 3.754 x | 3.242 x | 2.805 x |
| Free Cash Flow 1 | 250 | 23 | -4 | 121 | 91 | 82.1 | 105 | 127 |
| ROE (net income / shareholders' equity) | 7.7% | -6.18% | -3.44% | 5.04% | 4.49% | 6.16% | 6.92% | 7.15% |
| ROA (Net income/ Total Assets) | 2.93% | -2.24% | -1.26% | 2.11% | 1.97% | 2.71% | 3.31% | 3.79% |
| Assets 1 | 4,881 | 5,000 | 5,159 | 617.2 | -203.2 | 4,751 | 4,537 | 4,467 |
| Book Value Per Share 2 | 4.560 | 3.910 | 3.530 | 3.590 | 3.580 | 3.800 | 4.070 | 4.380 |
| Cash Flow per Share 2 | 0.9400 | 0.3000 | 0.0400 | 0.4000 | 0.4200 | 0.4400 | 0.4900 | 0.5200 |
| Capex 1 | 152 | 104 | 29 | 122 | 157 | 175 | 175 | 174 |
| Capex / Sales | 6.79% | 7.05% | 2.72% | 5.53% | 6.27% | 6.75% | 6.5% | 6.27% |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
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
11
Last Close Price
2.66
GBP
Average target price
3.11
GBP
Spread / Average Target
+16.92%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +3.18% | 2.01B | |
| -19.24% | 87.83B | |
| +3.77% | 48.15B | |
| -7.50% | 18.14B | |
| +33.70% | 14.55B | |
| -13.92% | 13.66B | |
| +87.23% | 9.17B | |
| -13.93% | 6.44B | |
| -8.51% | 4.44B | |
| -17.28% | 3.71B |
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