Financials DS Smith Plc

Equities

SMDS

GB0008220112

Paper Packaging

Market Closed - London S.E. 11:35:28 2024-06-14 am EDT 5-day change 1st Jan Change
350 GBX -0.17% Intraday chart for DS Smith Plc -5.51% +13.90%

Valuation

Fiscal Period: April 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,892 4,277 5,772 4,543 4,268 4,825 - -
Enterprise Value (EV) 1 7,169 6,378 7,567 6,027 4,268 6,792 6,713 6,570
P/E ratio 17.3 x 8.1 x 29.6 x 16.3 x 8.74 x 13 x 13 x 11.6 x
Yield 4.54% - 2.88% 4.53% - 5.05% 5.01% 5.37%
Capitalization / Revenue 0.79 x 0.71 x 0.97 x 0.63 x 0.52 x 0.69 x 0.66 x 0.64 x
EV / Revenue 1.16 x 1.06 x 1.27 x 0.83 x 0.52 x 0.97 x 0.92 x 0.87 x
EV / EBITDA 8.74 x 6.67 x 9.39 x 6.65 x 3.64 x 6.65 x 6.46 x 5.84 x
EV / FCF 21.1 x 18 x 15.6 x 11.6 x - 147 x 21.3 x 18 x
FCF Yield 4.73% 5.55% 6.42% 8.61% - 0.68% 4.7% 5.56%
Price to Book 1.52 x 1.28 x 1.63 x 1.07 x - 1.17 x 1.12 x 1.07 x
Nbr of stocks (in thousands) 1,370,294 1,371,316 1,371,775 1,372,931 1,376,455 1,378,564 - -
Reference price 2 3.570 3.119 4.208 3.309 3.101 3.500 3.500 3.500
Announcement Date 6/13/19 7/2/20 6/22/21 6/21/22 6/22/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: April 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,171 6,043 5,976 7,241 8,221 7,010 7,282 7,555
EBITDA 1 820 956 806 906 1,173 1,022 1,040 1,124
EBIT 1 631 660 502 616 861 699.3 711.1 792
Operating Margin 10.23% 10.92% 8.4% 8.51% 10.47% 9.98% 9.76% 10.48%
Earnings before Tax (EBT) 1 350 368 231 378 661 489.5 503.7 572.7
Net income 1 274 527 194 280 492 371.5 372.5 419
Net margin 4.44% 8.72% 3.25% 3.87% 5.98% 5.3% 5.12% 5.55%
EPS 2 0.2060 0.3850 0.1420 0.2030 0.3550 0.2685 0.2693 0.3028
Free Cash Flow 1 339 354 486 519 - 46.1 315.5 365
FCF margin 5.49% 5.86% 8.13% 7.17% - 0.66% 4.33% 4.83%
FCF Conversion (EBITDA) 41.34% 37.03% 60.3% 57.28% - 4.51% 30.34% 32.46%
FCF Conversion (Net income) 123.72% 67.17% 250.52% 185.36% - 12.41% 84.7% 87.12%
Dividend per Share 2 0.1620 - 0.1210 0.1500 - 0.1766 0.1754 0.1879
Announcement Date 6/13/19 7/2/20 6/22/21 6/21/22 6/22/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: April 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 3,188 2,855 2,889 3,087 3,362 3,879 4,299 3,922 3,513 3,423
EBITDA 1 498 458 385 421 423 483 572 601 522 495
EBIT 1 351 309 230 272 276 340 418 443 365 333.5
Operating Margin 11.01% 10.82% 7.96% 8.81% 8.21% 8.77% 9.72% 11.3% 10.39% 9.74%
Earnings before Tax (EBT) - - - - - - - - - -
Net income - - - - - - - - - -
Net margin - - - - - - - - - -
EPS - 0.2650 - 0.0880 0.0980 0.1050 - - - -
Dividend per Share 2 0.0540 - 0.0400 0.0810 0.0400 0.1100 0.0600 - 0.0600 0.1200
Announcement Date 12/5/19 7/2/20 12/10/20 6/22/21 12/9/21 6/21/22 12/8/22 6/22/23 12/7/23 -
1GBP in Million2GBP
Estimates

Balance Sheet Analysis

Fiscal Period: April 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,277 2,101 1,795 1,484 - 1,967 1,888 1,745
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.777 x 2.198 x 2.227 x 1.638 x - 1.925 x 1.816 x 1.552 x
Free Cash Flow 1 339 354 486 519 - 46.1 315 365
ROE (net income / shareholders' equity) 14.4% 14.1% 9.65% 10.9% - 10.7% 10.5% 11.2%
ROA (Net income/ Total Assets) 5.06% 5.31% 3.83% 4.54% - 3.8% 3.68% 3.97%
Assets 1 5,410 9,924 5,062 6,166 - 9,781 10,120 10,555
Book Value Per Share 2 2.340 2.440 2.580 3.080 - 3.000 3.120 3.280
Cash Flow per Share 2 0.4000 0.4800 0.5500 0.6700 - 0.4100 0.5400 0.5900
Capex 1 303 376 331 431 - 494 477 476
Capex / Sales 4.91% 6.22% 5.54% 5.95% - 7.05% 6.55% 6.3%
Announcement Date 6/13/19 7/2/20 6/22/21 6/21/22 6/22/23 - - -
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
3.5 GBP
Average target price
3.948 GBP
Spread / Average Target
+12.79%
Consensus
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