Cash flow BT Group plc

Equities

BT.A

GB0030913577

Integrated Telecommunications Services

Real-time Estimate Cboe Europe Other stock markets 06:58:40 2024-09-11 am EDT			5-day change	1st Jan Change
142.62 ^GBX	+1.84%		+1.07%	+15.30%

Sep. 10	Telecom Italia among suitors for residual BT business in Italy, sources say	RE
Sep. 04	Mexican telecom tycoon Carlos Slim raises stake in BT to 4.3%	AN

97740fb261d10ada3f18f403.9_si2KGrdKH8SUzNeRiXqMI2Dr27NgMrgZIgIqpyCVA.xJFsspGcMPvLOxb6KEHv_Pp3PvDUfm1d58V6FsMlfg-1lkeJ5voS6Y0LDQ

Published financial data: BT GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	22.9B	21.33B	20.85B	20.68B	20.8B
Total Revenues	22.9B	21.33B	20.85B	20.68B	20.8B
Cost of Goods Sold, Total	13.87B	12.89B	12.25B	11.22B	11.09B
Gross Profit	9.04B	8.44B	8.6B	9.46B	9.71B
Selling General & Admin Expenses, Total	303M	255M	312M	952M	1B
Provision for Bad Debts	-	150M	102M	138M	165M
Depreciation & Amortization - (IS)	3.12B	3.15B	3.33B	4.73B	4.79B
Amortization of Goodwill and Intangible Assets - (IS)	1.17B	1.2B	1.04B	-	-
Other Operating Expenses	875M	675M	693M	451M	600M
Other Operating Expenses, Total	5.47B	5.43B	5.48B	6.27B	6.56B
Operating Income	3.56B	3.01B	3.12B	3.19B	3.15B
Interest Expense, Total	-751M	-714M	-765M	-895M	-1.01B
Interest And Investment Income	44M	12M	12M	63M	168M
Net Interest Expenses	-707M	-702M	-753M	-832M	-842M
Income (Loss) On Equity Invest.	-33M	8M	-	-59M	-21M
Other Non Operating Income (Expenses)	-45M	-71M	-68M	6M	-44M
EBT, Excl. Unusual Items	2.78B	2.25B	2.3B	2.3B	2.24B
Restructuring Charges	-337M	-421M	-347M	-300M	-388M
Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-488M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Asset Writedown	-	-	-36M	-86M	-118M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-87M	-21M	47M	-190M	-62M
EBT, Incl. Unusual Items	2.35B	1.8B	1.96B	1.73B	1.19B
Income Tax Expense	619M	332M	689M	-176M	331M
Earnings From Continuing Operations	1.73B	1.47B	1.27B	1.9B	855M
Net Income to Company	1.73B	1.47B	1.27B	1.9B	855M
Net Income - (IS)	1.73B	1.47B	1.27B	1.9B	855M
Net Income to Common Incl Extra Items	1.73B	1.47B	1.27B	1.9B	855M
Net Income to Common Excl. Extra Items	1.73B	1.47B	1.27B	1.9B	855M
Per Share Items
Net EPS - Basic	0.18	0.15	0.13	0.19	0.09
Basic EPS - Continuing Operations	0.18	0.15	0.13	0.19	0.09
Basic Weighted Average Shares Outstanding	9.88B	9.9B	9.87B	9.8B	9.82B
Net EPS - Diluted	0.17	0.15	0.12	0.19	0.09
Diluted EPS - Continuing Operations	0.17	0.15	0.12	0.19	0.09
Diluted Weighted Average Shares Outstanding	9.96B	10.07B	10.14B	10.06B	10B
Normalized Basic EPS	0.18	0.14	0.15	0.15	0.14
Normalized Diluted EPS	0.17	0.14	0.14	0.14	0.14
Dividend Per Share	0.05	-	0.08	0.08	0.08
Payout Ratio	87.66	0.14	17.9	39.42	88.77
American Depositary Receipts Ratio (ADR)	5	5	5	5	5
Supplemental Items
EBITDA	6.56B	5.96B	6.2B	6.48B	6.46B
EBITA	4.11B	3.5B	3.53B	3.61B	3.56B
EBIT	3.56B	3.01B	3.12B	3.19B	3.15B
EBITDAR	6.59B	5.98B	6.22B	6.52B	6.5B
Effective Tax Rate - (Ratio)	26.31	18.4	35.1	-10.18	27.91
Current Domestic Taxes	454M	294M	-223M	-63M	10M
Current Foreign Taxes	59M	59M	71M	58M	87M
Total Current Taxes	513M	353M	-152M	-5M	97M
Total Deferred Taxes	106M	-21M	841M	-171M	234M
Normalized Net Income	1.74B	1.4B	1.44B	1.44B	1.4B
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	140M	142M	133M	133M	134M
Non-Cash Pension Expense	167M	19M	92M	16M	121M
Supplemental Operating Expense Items
Selling and Marketing Expenses	303M	255M	312M	952M	1B
Research And Development Expense From Footnotes	662M	720M	604M	683M	726M
Net Rental Expense, Total	29M	27M	24M	38M	39M
Imputed Operating Lease Interest Expense	8.15M	6.33M	6.56M	11.87M	13.31M
Imputed Operating Lease Depreciation	20.85M	20.67M	17.44M	26.13M	25.69M
Stock-Based Comp., COGS (Total)	72M	72M	108M	80M	71M
Total Stock-Based Compensation	72M	72M	108M	80M	71M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.55B	1B	777M	392M	414M
Short Term Investments	5.09B	3.57B	2.61B	3.5B	1.9B
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	6.64B	4.57B	3.39B	3.9B	2.31B
Accounts Receivable, Total	2.82B	2.72B	2.89B	2.99B	3.34B
Other Receivables	367M	624M	922M	862M	759M
Total Receivables	3.18B	3.35B	3.82B	3.85B	4.1B
Inventory	300M	297M	300M	349M	409M
Prepaid Expenses	607M	1.36B	523M	545M	586M
Other Current Assets, Total	1.26B	828M	881M	816M	1.31B
Total Current Assets	11.99B	10.4B	8.91B	9.46B	8.72B
Gross Property Plant And Equipment	62.9B	63.03B	64.2B	67.43B	68.3B
Accumulated Depreciation	-39.04B	-38.77B	-39.17B	-41.78B	-42.09B
Net Property Plant And Equipment	23.86B	24.26B	25.03B	25.65B	26.2B
Long-term Investments	32M	48M	39M	930M	787M
Goodwill	7.94B	7.84B	7.92B	7.96B	7.43B
Other Intangibles, Total	5.94B	5.52B	5.89B	5.73B	5.49B
Accounts Receivable Long-Term	279M	344M	361M	467M	437M
Deferred Tax Assets Long-Term	300M	989M	289M	709M	1.05B
Deferred Charges Long-Term	259M	211M	226M	211M	229M
Other Long-Term Assets, Total	2.45B	1.27B	1.11B	1.64B	1.4B
Total Assets	53.07B	50.88B	49.77B	52.75B	51.74B
Liabilities
Accounts Payable, Total	3.89B	4.02B	4.14B	4.2B	4.12B
Accrued Expenses, Total	1.11B	1.12B	1.12B	1.04B	1.09B
Short-term Borrowings	183M	104M	85M	22M	69M
Current Portion of Long-Term Debt	2.66B	807M	788M	1.75B	1.33B
Current Portion of Leases	812M	730M	795M	800M	766M
Current Income Taxes Payable	21M	84M	90M	78M	92M
Unearned Revenue Current, Total	1.27B	1.26B	1.18B	1.39B	1.26B
Other Current Liabilities	1.04B	871M	845M	1.12B	1.1B
Total Current Liabilities	10.99B	9.01B	9.05B	10.39B	9.82B
Long-Term Debt	16.49B	15.77B	15.31B	16.75B	17.13B
Long-Term Leases	5.75B	5.42B	4.96B	4.56B	4.19B
Unearned Revenue Non Current	915M	837M	764M	596M	517M
Pension & Other Post Retirement Benefits	1.14B	5.1B	1.14B	3.14B	4.88B
Deferred Tax Liability Non Current	1.61B	1.43B	1.96B	1.62B	1.53B
Other Non Current Liabilities	1.42B	1.63B	1.29B	1.18B	1.15B
Total Liabilities	38.3B	39.2B	34.48B	38.24B	39.22B
Common Stock, Total	499M	499M	499M	499M	499M
Additional Paid In Capital	1.05B	1.05B	1.05B	1.05B	1.05B
Retained Earnings	9.76B	8.84B	12.4B	11.43B	9.56B
Treasury Stock	-237M	-143M	-274M	-422M	-311M
Comprehensive Income and Other	3.69B	1.43B	1.62B	1.96B	1.71B
Total Common Equity	14.76B	11.68B	15.3B	14.51B	12.52B
Total Equity	14.76B	11.68B	15.3B	14.51B	12.52B
Total Liabilities And Equity	53.07B	50.88B	49.77B	52.75B	51.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.81B	9.91B	9.83B	9.74B	9.79B
ECS Total Common Shares Outstanding	9.81B	9.91B	9.83B	9.74B	9.78B
Book Value / Share	1.51	1.18	1.56	1.49	1.28
Tangible Book Value	874M	-1.68B	1.49B	827M	-402M
Tangible Book Value Per Share	0.09	-0.17	0.15	0.08	-0.04
Total Debt	25.89B	22.84B	21.94B	23.88B	23.48B
Net Debt	19.25B	18.27B	18.56B	19.98B	21.17B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.14B	5.1B	1.14B	3.09B	4.81B
Debt Equivalent Oper. Leases	232M	216M	192M	304M	312M
Equity Method Investments, Total	12M	17M	5M	359M	307M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Land - (BS)	945M	946M	1.02B	1.16B	1.15B
Machinery, Total	53.89B	54.6B	55.72B	59.06B	60.13B
Full Time Employees	105K	99.7K	98.4K	97.1K	91.7K
Accumulated Allowance for Doubtful Accounts (Supple)	329M	284M	223M	168M	169M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	1.73B	1.47B	1.27B	1.9B	855M
Depreciation & Amortization - CF	3.1B	3.15B	3.36B	3.57B	3.54B
Amortization of Goodwill and Intangible Assets - (CF)	550M	484M	410M	416M	416M
Depreciation & Amortization, Total	3.65B	3.63B	3.77B	3.98B	3.96B
Amortization of Deferred Charges, Total - (CF)	623M	713M	638M	749M	832M
(Gain) Loss From Sale Of Asset	-79M	-131M	-37M	159M	-12M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	86M	606M
(Income) Loss On Equity Investments - (CF)	33M	-8M	-	59M	21M
Other Operating Activities, Total	1.52B	1.1B	1.64B	880M	1.36B
Change In Accounts Receivable	44M	186M	-104M	-302M	-686M
Change In Inventories	69M	2M	-3M	-47M	-60M
Change In Accounts Payable	144M	-43M	99M	232M	-89M
Change in Unearned Revenues	-236M	-48M	-93M	41M	39M
Change in Other Net Operating Assets	-1.23B	-916M	-1.27B	-1.02B	-868M
Cash from Operations	6.27B	5.96B	5.91B	6.72B	5.95B
Capital Expenditure	-4.1B	-4.9B	-4.61B	-5.31B	-4.97B
Sale of Property, Plant, and Equipment	216M	85M	2M	-	2M
Cash Acquisitions	-	-7M	-	-	-
Divestitures	60M	164M	76M	29M	81M
Investment in Marketable and Equity Securities, Total	-1.85B	1.41B	962M	-842M	1.17B
Other Investing Activities, Total	31M	11M	7M	-276M	171M
Cash from Investing	-5.65B	-3.24B	-3.56B	-6.4B	-3.54B
Short Term Debt Issued, Total	-	-	-	11M	-
Long-Term Debt Issued, Total	2.84B	-	744M	2.2B	2.24B
Total Debt Issued	2.84B	-	744M	2.21B	2.24B
Short Term Debt Repaid, Total	-	-	-	-	-1M
Long-Term Debt Repaid, Total	-1.76B	-1.94B	-2.03B	-1.24B	-2.42B
Total Debt Repaid	-1.76B	-1.94B	-2.03B	-1.24B	-2.42B
Issuance of Common Stock	2M	1M	13M	5M	57M
Repurchase of Common Stock	-86M	-14M	-184M	-138M	-133M
Common Dividends Paid	-1.52B	-2M	-228M	-751M	-759M
Common & Preferred Stock Dividends Paid	-1.52B	-2M	-228M	-751M	-759M
Other Financing Activities, Total	-284M	-1.26B	-870M	-726M	-1.41B
Cash from Financing	-807M	-3.22B	-2.56B	-636M	-2.43B
Foreign Exchange Rate Adjustments	1M	-17M	4M	-3M	-8M
Net Change in Cash	-185M	-513M	-204M	-311M	-25M
Supplemental Items
Cash Interest Paid	736M	770M	755M	709M	865M
Cash Income Tax Paid (Refund)	210M	288M	52M	-136M	59M
Levered Free Cash Flow	2.04B	589M	1.7B	1.34B	221M
Unlevered Free Cash Flow	2.51B	1.03B	2.18B	1.9B	852M
Change In Net Working Capital	-43M	363M	-324M	-400M	1.01B
Net Debt Issued / Repaid	1.08B	-1.94B	-1.29B	974M	-183M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	4.48	3.62	3.87	3.89	3.77
Return on Total Capital	6.58	5.01	5.44	5.27	5.29
Return On Equity %	13.91	11.13	9.45	12.78	6.33
Return on Common Equity	13.91	11.13	9.45	12.78	6.33
Margin Analysis
Gross Profit Margin %	39.45	39.56	41.23	45.76	46.68
SG&A Margin	1.32	1.2	1.5	4.6	4.82
EBITDA Margin %	28.66	27.92	29.73	31.35	31.05
EBITA Margin %	17.95	16.38	16.93	17.44	17.14
EBIT Margin %	15.55	14.12	14.96	15.42	15.14
Income From Continuing Operations Margin %	7.57	6.9	6.11	9.21	4.11
Net Income Margin %	7.57	6.9	6.11	9.21