Stock DLG DIRECT LINE INSURANCE GROUP PLC
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Financials Direct Line Insurance Group plc

Equities

DLG

GB00BY9D0Y18

Property & Casualty Insurance

Market Closed - London S.E.
Other stock markets
 11:35:24 2024-04-26 am EDT 		5-day change 1st Jan Change
184.5 GBX -0.43% Intraday chart for Direct Line Insurance Group plc -4.65% +1.40%
Apr. 17 Goldman Sachs Resumes Direct Line Insurance Group at Buy MT
Apr. 17 BofA cuts Ashmore; JPMorgan lifts Fresnillo AN

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,272 4,317 3,677 2,875 2,363 2,394 - -
Enterprise Value (EV) 1 4,272 4,317 3,677 2,875 931.8 3,146 3,146 2,394
P/E ratio 10.7 x 12.5 x 11.6 x -51.5 x 11.6 x 13.7 x 8.16 x 7.16 x
Yield 6.91% 6.93% 8.14% - 2.2% 7.93% 10% 10.8%
Capitalization / Revenue 1.43 x 1.46 x 1.24 x 0.97 x - 0.86 x 0.81 x 0.82 x
EV / Revenue 1.43 x 1.46 x 1.24 x 0.97 x - 1.13 x 1.06 x 0.82 x
EV / EBITDA 6.83 x 7.1 x 5.42 x 21.1 x -13.7 x 6.28 x 4.66 x -
EV / FCF 9.49 x 7.65 x 8.98 x - 3.56 x 8.88 x 8.91 x -
FCF Yield 10.5% 13.1% 11.1% - 28.1% 11.3% 11.2% -
Price to Book 1.62 x 1.6 x 1.27 x - 1.15 x 1.12 x 1.05 x 1.03 x
Nbr of stocks (in thousands) 1,366,900 1,353,300 1,317,959 1,299,200 1,298,588 1,297,688 - -
Reference price 2 3.125 3.190 2.790 2.213 1.820 1.845 1.845 1.845
Announcement Date 3/3/20 3/8/21 3/8/22 3/13/23 3/21/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,985 2,960 2,957 2,966 - 2,780 2,958 2,921
EBITDA 1 625.7 607.9 678.4 136.3 -68 501.2 675.3 -
EBIT 1 546.9 522.1 581.8 20.6 -191.4 281.5 455.8 499.7
Operating Margin 18.32% 17.64% 19.67% 0.69% - 10.12% 15.41% 17.11%
Earnings before Tax (EBT) 1 509.7 451.4 446 -45.1 277.4 260.6 409.3 468.4
Net income 1 419.9 367.2 343.7 -39.5 222.9 188.2 305.8 349.5
Net margin 14.07% 12.4% 11.62% -1.33% - 6.77% 10.34% 11.96%
EPS 2 0.2920 0.2550 0.2410 -0.0430 0.1570 0.1350 0.2262 0.2578
Free Cash Flow 1 450.2 564.6 409.7 - 261.9 354.4 353.1 -
FCF margin 15.08% 19.07% 13.85% - - 12.75% 11.94% -
FCF Conversion (EBITDA) 71.95% 92.88% 60.39% - - 70.71% 52.29% -
FCF Conversion (Net income) 107.22% 153.76% 119.2% - 117.5% 188.28% 115.47% -
Dividend per Share 2 0.2160 0.2210 0.2270 - 0.0400 0.1464 0.1848 0.2001
Announcement Date 3/3/20 3/8/21 3/8/22 3/13/23 3/21/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 1,502 1,474 1,486 1,456 1,502 1,472 1,494 - - 1,431 1,431
EBITDA - - - - - - - - - - -
EBIT 1 - 264.9 - 369.9 - 195.5 -174.9 -60.3 -131.1 62 188
Operating Margin - 17.97% - 25.41% - 13.28% -11.7% - - 4.33% 13.14%
Earnings before Tax (EBT) 1 - 236.4 215 261.3 - 178.1 -223.2 -76.3 353.7 55 181
Net income 1 - 192.6 - 203.8 - 145.7 -185.2 -51.9 274.8 41 136
Net margin - 13.06% - 14% - 9.9% -12.39% - - 2.87% 9.5%
EPS 2 0.1450 0.1340 - 0.1430 0.0980 0.1030 -0.1460 -0.0460 0.2030 0.0404 0.0779
Dividend per Share 2 - 0.0740 0.1470 0.0760 - 0.0760 - - 0.0400 0.0420 0.0830
Announcement Date 3/3/20 8/4/20 3/8/21 8/3/21 3/8/22 8/2/22 3/13/23 9/7/23 3/21/24 - -
1GBP in Million2GBP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - 752 752 -
Net Cash position 1 - - - - 1,431 - - -
Leverage (Debt/EBITDA) - - - - - 1.5 x 1.113 x -
Free Cash Flow 1 450 565 410 - 262 354 353 -
ROE (net income / shareholders' equity) 15.5% 13.1% 11.6% - 9.7% 9.18% 13.1% 13.8%
ROA (Net income/ Total Assets) 4.43% 3.85% 3.61% - 2.81% 2.1% 2.3% 2.5%
Assets 1 9,485 9,528 9,521 - 7,921 8,963 13,296 13,979
Book Value Per Share 2 1.930 2.000 2.200 - 1.590 1.650 1.750 1.790
Cash Flow per Share 2 0.3300 0.4300 0.3200 - 0.3100 0.2700 0.2700 -
Capex 1 - 20.1 29.3 - 143 99 102 113
Capex / Sales - 0.68% 0.99% - - 3.56% 3.45% 3.87%
Announcement Date 3/3/20 3/8/21 3/8/22 3/13/23 3/21/24 - - -
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

Ratings for Direct Line Insurance Group plc

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
1.845 GBP
Average target price
2.274 GBP
Spread / Average Target
+23.24%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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