Financials De La Rue plc

Equities

DLAR

GB00B3DGH821

Commercial Printing Services

Market Closed - London S.E. 11:35:12 2024-04-19 am EDT 5-day change 1st Jan Change
77.4 GBX -3.25% Intraday chart for De La Rue plc -5.38% -10.31%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 407.2 58.55 398.9 212.7 103.8 156.7 - -
Enterprise Value (EV) 1 514.7 161.4 451.2 284.1 186.9 252.1 251.3 240.4
P/E ratio 23.9 x 1.72 x 60.1 x 10 x -1.86 x -33.3 x 11.4 x 9.41 x
Yield 6.33% - - - - - - -
Capitalization / Revenue 0.79 x 0.13 x 1 x 0.57 x 0.3 x 0.49 x 0.44 x 0.42 x
EV / Revenue 1 x 0.35 x 1.14 x 0.76 x 0.53 x 0.79 x 0.71 x 0.64 x
EV / EBITDA 6.49 x 3.7 x 7.82 x 5.26 x 3.99 x 5.91 x 4.91 x 4.32 x
EV / FCF -16.1 x -25.6 x -15.5 x -27.3 x 104 x 133 x 18.8 x 27.6 x
FCF Yield -6.22% -3.9% -6.45% -3.66% 0.96% 0.75% 5.33% 3.62%
Price to Book -10.4 x 0.75 x 3.75 x 1.5 x 5.44 x 38.1 x 10.1 x 5.23 x
Nbr of stocks (in thousands) 103,086 103,997 195,053 195,156 195,436 195,889 - -
Reference price 2 3.950 0.5630 2.045 1.090 0.5310 0.8000 0.8000 0.8000
Announcement Date 5/30/19 6/17/20 5/26/21 5/25/22 6/29/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 516.6 466.8 397.4 375.1 349.7 318.9 354.2 373
EBITDA 1 79.3 43.6 57.7 54 46.8 42.65 51.15 55.65
EBIT 1 60.1 23.7 38.1 36.4 27.8 22.1 29.45 34.95
Operating Margin 11.63% 5.08% 9.59% 9.7% 7.95% 6.93% 8.31% 9.37%
Earnings before Tax (EBT) 1 25.5 36.1 8.5 25.2 -28.6 -3.4 19.8 23.6
Net income 1 17 34.1 5.9 21.5 -55.9 -4.7 14 17.1
Net margin 3.29% 7.31% 1.48% 5.73% -15.99% -1.47% 3.95% 4.58%
EPS 2 0.1650 0.3270 0.0340 0.1090 -0.2860 -0.0240 0.0700 0.0850
Free Cash Flow 1 -32 -6.3 -29.1 -10.4 1.8 1.9 13.4 8.7
FCF margin -6.19% -1.35% -7.32% -2.77% 0.51% 0.6% 3.78% 2.33%
FCF Conversion (EBITDA) - - - - 3.85% 4.45% 26.2% 15.63%
FCF Conversion (Net income) - - - - - - 95.71% 50.88%
Dividend per Share 0.2500 - - - - - - -
Announcement Date 5/30/19 6/17/20 5/26/21 5/25/22 6/29/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 S1 2022 S2 2023 S1 2024 S1 2024 S2
Net sales 1 - - - 161.5 162.5
EBITDA - - - - -
EBIT 1 17.4 19 - - 14.7
Operating Margin - - - - 9.05%
Earnings before Tax (EBT) - - - - -
Net income - - -24.4 -12.2 -
Net margin - - - -7.55% -
EPS - - -0.1260 - -
Dividend per Share - - - - -
Announcement Date - 5/25/22 11/23/22 12/19/23 -
1GBP in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 108 103 52.3 71.4 83.1 95.4 94.6 83.7
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.356 x 2.358 x 0.9064 x 1.322 x 1.776 x 2.237 x 1.848 x 1.504 x
Free Cash Flow 1 -32 -6.3 -29.1 -10.4 1.8 1.9 13.4 8.7
ROE (net income / shareholders' equity) - 175% 29.4% 18% -3.6% 42.4% 87.9% 55.4%
ROA (Net income/ Total Assets) 12.5% 8.71% - - - - - -
Assets 1 135.7 391.5 - - - - - -
Book Value Per Share 2 -0.3800 0.7500 0.5500 0.7300 0.1000 0.0200 0.0800 0.1500
Cash Flow per Share - - - - - - - -
Capex 1 25.4 11.4 21.1 26.9 22 17.7 18.7 18.5
Capex / Sales 4.92% 2.44% 5.31% 7.17% 6.29% 5.53% 5.28% 4.96%
Announcement Date 5/30/19 6/17/20 5/26/21 5/25/22 6/29/23 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
2
Last Close Price
0.8 GBP
Average target price
0.825 GBP
Spread / Average Target
+3.12%
Consensus

Annual profits - Rate of surprise

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