Cash flow Barratt Developments PLC

Equities

BDEV

GB0000811801

Homebuilding

Market Closed - London S.E. Other stock markets 11:35:07 2024-09-06 am EDT			5-day change	1st Jan Change
492.60 ^GBX	-2.57%		-2.88%	-12.44%

Sep. 06	Gulf Keystone Petroleum Names Interim Successor to Late Chair	MT
Sep. 06	Gulf Keystone Petroleum Limited Appoints David Thomas as Interim Chair	CI

c.YK3mttMRPKXFP9A2_nXTikuNQR3O5tP6Ba3mA6x9Q6M.LMen1KcmUt-hEo9CkQSB8Bv9EVickqmzad2NcMQ6FPYlm77llXR41Zd5uw

Published financial data: BARRATT DEVELOPMENTS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	4.76B	3.42B	4.81B	5.27B	5.32B
Total Revenues	4.76B	3.42B	4.81B	5.27B	5.32B
Cost of Goods Sold, Total	3.68B	2.71B	3.68B	3.96B	4.19B
Gross Profit	1.09B	714M	1.13B	1.31B	1.14B
Selling General & Admin Expenses, Total	181M	126M	226M	273M	271M
Other Operating Expenses	-	-	-24.5M	-21.2M	-
Other Operating Expenses, Total	181M	126M	201M	252M	271M
Operating Income	907M	588M	926M	1.05B	864M
Interest Expense, Total	-35.9M	-35M	-28M	-28.8M	-34.9M
Interest And Investment Income	5.1M	3.5M	1.3M	2.5M	23.8M
Net Interest Expenses	-30.8M	-31.5M	-26.7M	-26.3M	-11.1M
Income (Loss) On Equity Invest.	39.2M	28.3M	27.7M	23.3M	8.8M
Currency Exchange Gains (Loss)	-	3.6M	5.5M	3.1M	3.3M
Other Non Operating Income (Expenses)	-	-	-	-1.3M	-
EBT, Excl. Unusual Items	915M	588M	932M	1.05B	865M
Merger & Related Restructuring Charges	-900K	-	-	-4.5M	-
Gain (Loss) On Sale Of Investments	-1.7M	-	-	-	-
Gain (Loss) On Sale Of Assets	600K	-	-	-	-
Asset Writedown	-	-8.2M	3.5M	2.2M	-4.7M
Other Unusual Items	-3.2M	-88.2M	-124M	-408M	-156M
EBT, Incl. Unusual Items	910M	492M	812M	642M	705M
Income Tax Expense	170M	89.1M	152M	127M	175M
Earnings From Continuing Operations	739M	403M	660M	515M	530M
Net Income to Company	739M	403M	660M	515M	530M
Minority Interest	600K	-3M	-300K	-100K	-
Net Income - (IS)	740M	400M	660M	515M	530M
Net Income to Common Incl Extra Items	740M	400M	660M	515M	530M
Net Income to Common Excl. Extra Items	740M	400M	660M	515M	530M
Per Share Items
Net EPS - Basic	0.73	0.39	0.65	0.51	0.53
Basic EPS - Continuing Operations	0.73	0.39	0.65	0.51	0.53
Basic Weighted Average Shares Outstanding	1.01B	1.01B	1.02B	1.02B	996M
Net EPS - Diluted	0.72	0.39	0.64	0.5	0.53
Diluted EPS - Continuing Operations	0.72	0.39	0.64	0.5	0.53
Diluted Weighted Average Shares Outstanding	1.02B	1.03B	1.03B	1.03B	1.01B
Normalized Basic EPS	0.57	0.36	0.57	0.65	0.54
Normalized Diluted EPS	0.56	0.35	0.57	0.64	0.54
Dividend Per Share	0.29	-	0.29	0.37	0.34
Payout Ratio	37.53	49.49	11.56	65.42	67.89
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	911M	594M	933M	1.06B	881M
EBITA	907M	589M	927M	1.06B	875M
EBIT	907M	588M	926M	1.05B	864M
EBITDAR	961M	628M	960M	1.1B	915M
Effective Tax Rate - (Ratio)	18.73	18.12	18.73	19.79	24.79
Current Domestic Taxes	175M	92.6M	142M	121M	166M
Total Current Taxes	175M	92.6M	142M	121M	166M
Deferred Domestic Taxes	-4.2M	-3.5M	-	-	-
Total Deferred Taxes	-4.2M	-3.5M	9.7M	6.1M	8.3M
Normalized Net Income	572M	365M	582M	658M	541M
Interest on Long-Term Debt	14.4M	4.3M	3.3M	4.9M	3.1M
Non-Cash Pension Expense	-300K	-1.6M	1.8M	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	183M	128M	225M	273M	271M
Net Rental Expense, Total	50M	33.9M	27.1M	32.6M	34.5M
Imputed Operating Lease Interest Expense	73.43M	25.54M	19.85M	30.02M	38.22M
Imputed Operating Lease Depreciation	-23.43M	8.36M	7.25M	2.58M	-3.72M
Stock-Based Comp., Other (Total)	14.1M	6.8M	20.4M	24.2M	10.2M
Total Stock-Based Compensation	14.1M	6.8M	20.4M	24.2M	10.2M

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	958M	620M	1.52B	1.35B	1.27B
Total Cash And Short Term Investments	958M	620M	1.52B	1.35B	1.27B
Accounts Receivable, Total	152M	35.5M	72.3M	120M	91.5M
Other Receivables	55.5M	33.7M	92.9M	107M	105M
Notes Receivable	1.2M	1.1M	-	-	-
Total Receivables	209M	70.3M	165M	227M	197M
Inventory	4.82B	5.03B	4.65B	5.29B	5.24B
Prepaid Expenses	16M	15.7M	14.4M	19.5M	16.6M
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	6.01B	5.73B	6.34B	6.89B	6.72B
Gross Property Plant And Equipment	50M	114M	98.2M	118M	149M
Accumulated Depreciation	-32.6M	-48M	-38.5M	-41.6M	-46.2M
Net Property Plant And Equipment	17.4M	65.7M	59.7M	76.8M	103M
Long-term Investments	189M	152M	163M	178M	130M
Goodwill	806M	806M	806M	853M	853M
Other Intangibles, Total	102M	101M	100M	205M	195M
Accounts Receivable Long-Term	-	-	-	600K	500K
Loans Receivable Long-Term	1.4M	1M	-	-	-
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	64.1M	4.8M	1.2M	5.9M	2.4M
Total Assets	7.19B	6.86B	7.47B	8.21B	8B
Liabilities
Accounts Payable, Total	354M	187M	290M	324M	310M
Accrued Expenses, Total	547M	474M	595M	454M	381M
Short-term Borrowings	-	118M	5.3M	17.3M	3.4M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	-	11.7M	10.9M	10.5M	13.1M
Current Income Taxes Payable	99.5M	2.8M	1M	-	17M
Unearned Revenue Current, Total	-	137M	138M	124M	89.2M
Other Current Liabilities	687M	536M	446M	778M	640M
Total Current Liabilities	1.69B	1.47B	1.49B	1.71B	1.45B
Long-Term Debt	200M	200M	200M	200M	200M
Long-Term Leases	-	36.1M	29.8M	26.6M	33.1M
Deferred Tax Liability Non Current	17.6M	2.4M	8.9M	45.1M	53.5M
Other Non Current Liabilities	414M	320M	297M	600M	667M
Total Liabilities	2.32B	2.02B	2.02B	2.58B	2.41B
Common Stock, Total	102M	102M	102M	102M	97.4M
Additional Paid In Capital	239M	245M	245M	253M	254M
Retained Earnings	3.41B	3.39B	3.97B	4.16B	4.13B
Treasury Stock	-15.1M	-20.1M	-4.7M	-27M	-23.2M
Comprehensive Income and Other	1.13B	1.13B	1.14B	1.14B	1.13B
Total Common Equity	4.86B	4.84B	5.45B	5.63B	5.6B
Minority Interest	6.9M	1.4M	1.1M	800K	500K
Total Equity	4.87B	4.84B	5.45B	5.63B	5.6B
Total Liabilities And Equity	7.19B	6.86B	7.47B	8.21B	8B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.01B	1.01B	1.02B	1.02B	970M
ECS Total Common Shares Outstanding	1.01B	1.01B	1.02B	1.02B	970M
Book Value / Share	4.81	4.77	5.36	5.54	5.77
Tangible Book Value	3.95B	3.93B	4.55B	4.57B	4.55B
Tangible Book Value Per Share	3.91	3.88	4.47	4.49	4.69
Total Debt	200M	366M	246M	254M	250M
Net Debt	-758M	-254M	-1.27B	-1.1B	-1.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-62.6M	-3.5M	-	-	-
Debt Equivalent Oper. Leases	400M	271M	217M	261M	276M
Minority Interest, Total (Incl. Fin. Div)	6.9M	1.4M	1.1M	800K	500K
Equity Method Investments, Total	189M	152M	163M	178M	130M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	3.07B	3.11B	2.95B	3.34B	3.14B
Inventories - Work In Process, Total	1.63B	1.85B	1.68B	1.93B	2B
Inventories - Finished Goods, Total	120M	63.2M	23.3M	22.8M	93.3M
Machinery, Total	43.7M	47.9M	53.3M	53.7M	66.8M
Full Time Employees	6.5K	6.66K	6.33K	6.84K	6.73K
Accumulated Allowance for Doubtful Accounts (Supple)	6.1M	7.6M	6.1M	4.9M	8.1M
Order Backlog	-	-	-	-	2.22B

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	740M	400M	660M	515M	530M
Depreciation & Amortization - CF	4.3M	19.1M	19.6M	19.2M	18.4M
Amortization of Goodwill and Intangible Assets - (CF)	-	1.2M	1.1M	4.3M	10.5M
Depreciation & Amortization, Total	4.3M	20.3M	20.7M	23.5M	28.9M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-1.8M	0	-	3.2M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-2M	-	-
Asset Writedown & Restructuring Costs	-	8.2M	-	-	4.7M
Provision for Credit Losses	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	14.1M	6.8M	20.4M	24.2M	10.2M
Other Operating Activities, Total	-47.8M	-128M	-23.6M	-30.2M	-43.7M
Change In Accounts Receivable	-4.3M	129M	-93.1M	20.8M	60.4M
Change In Inventories	-292M	-212M	386M	-543M	48.9M
Change In Accounts Payable	-53.3M	-374M	74.8M	-10.7M	-338M
Change in Other Net Operating Assets	2M	28.2M	39.4M	415M	163M
Cash from Operations	361M	-121M	1.08B	418M	466M
Capital Expenditure	-7.2M	-7.5M	-7.2M	-29.9M	-23.1M
Sale of Property, Plant, and Equipment	-	-	-	1M	100K
Cash Acquisitions	-15.8M	-	-	-206M	-
Divestitures	4.6M	-	-	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	34.5M	41M	-2.5M	-6.6M	22.1M
Other Investing Activities, Total	65.4M	27.7M	23.2M	18.7M	56.3M
Cash from Investing	81.5M	61.2M	13.5M	-222M	55.4M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-74.1M	-127M	-19.1M	-13.9M
Total Debt Repaid	-	-74.1M	-127M	-19.1M	-13.9M
Issuance of Common Stock	7.1M	6M	8.1M	8.5M	100K
Repurchase of Common Stock	-21.7M	-5.9M	-	-28.5M	-215M
Common Dividends Paid	-278M	-198M	-76.3M	-337M	-360M
Common & Preferred Stock Dividends Paid	-278M	-198M	-76.3M	-337M	-360M
Special Dividend Paid	-175M	-175M	-	-	-
Other Financing Activities, Total	-	-9.2M	-1.6M	-2.3M	-1.5M
Cash from Financing	-467M	-456M	-197M	-378M	-591M
Net Change in Cash	-24.1M	-516M	899M	-183M	-69.7M
Supplemental Items
Cash Interest Paid	11.6M	11.7M	11M	10.7M	10.4M
Cash Income Tax Paid (Refund)	160M	187M	144M	130M	186M
Levered Free Cash Flow	389M	-50.7M	1.02B	155M	380M
Unlevered Free Cash Flow	412M	-28.82M	1.03B	173M	402M
Change In Net Working Capital	166M	416M	-422M	503M	155M
Net Debt Issued / Repaid	-	-74.1M	-127M	-19.1M	-13.9M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.03	5.16	8.07	8.4	6.66
Return on Total Capital	11.5	7.03	10.61	11.37	9.21
Return On Equity %	15.62	8.3	12.83	9.3	9.45
Return on Common Equity	15.66	8.24	12.82	9.3	9.45
Margin Analysis
Gross Profit Margin %	22.83	20.88	23.42	24.79	21.33
SG&A Margin	3.8	3.69	4.69	5.18	5.09
EBITDA Margin %	19.12	17.39	19.39	20.21	16.55
EBITA Margin %	19.03	17.23	19.27	20.09	16.44
EBIT Margin %	19.03	17.19	19.24	20.01	16.24
Income From Continuing Operations Margin %	15.52	11.78	13.72	9.78	9.97
Net Income Margin %	15.54	11.69	13.71	9.78	9.97
Net Avail. For Common Margin %	15.54	11.69	13.71	9.78	9.97
Normalized Net Income Margin	12.02	10.66	12.1	12.49	10.16
Levered Free Cash Flow Margin	8.17	-1.48	21.14	2.95	7.14
Unlevered Free Cash Flow Margin	8.64	-0.84	21.51	3.29	7.55
Asset Turnover
Asset Turnover	0.67	0.48	0.67	0.67	0.66
Fixed Assets Turnover	328.49	82.29	76.74	77.19	59.13
Receivables Turnover (Average Receivables)	32.46	36.45	89.27	54.7