Financials HICL Infrastructure PLC

Equities

Market Closed - London S.E. Other stock markets 11:35:16 2024-04-26 am EDT			5-day change	1st Jan Change
124 ^GBX	+0.49%		+0.65%	-10.53%

Mar. 04	HICL Infrastructure set for target dividend amid "sold" performance	AN
Mar. 04	HICL Infrastructure Confident on FY24 Dividend Target Delivery	MT

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	2,792	3,015	3,196	3,448	3,149	2,519	-	-
Enterprise Value (EV) ¹	2,790	3,015	3,195	3,446	3,148	2,687	2,744	2,786
P/E ratio	-	-	-	9.37 x	-	19.4 x	8.92 x	9.32 x
Yield	5.16%	5.1%	5%	4.63%	5.32%	6.59%	6.59%	6.63%
Capitalization / Revenue	-	-	-	9.27 x	12.4 x	12.7 x	7.52 x	7.82 x
EV / Revenue	-	-	-	9.27 x	12.4 x	13.6 x	8.19 x	8.65 x
EV / EBITDA	-	-	-	9.35 x	-	20.8 x	9.73 x	10.4 x
EV / FCF	-	-	-	21.5 x	-	15 x	13.9 x	14.1 x
FCF Yield	-	-	-	4.66%	-	6.66%	7.22%	7.11%
Price to Book	-	-	-	1.09 x	0.94 x	0.78 x	0.73 x	0.73 x
Nbr of stocks (in thousands)	1,791,143	1,863,643	1,936,814	1,936,814	2,031,488	2,031,488	-	-
Reference price ²	1.559	1.618	1.650	1.780	1.550	1.240	1.240	1.240
Announcement Date	5/22/19	5/19/20	5/26/21	5/25/22	5/24/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	-	-	371.8	254.2	198.1	335	322
EBITDA ¹	-	-	-	368.7	-	129	282	269
EBIT ¹	285.4	49.5	151.9	368.7	214.6	119.2	296.7	250.4
Operating Margin	-	-	-	99.17%	84.42%	60.17%	88.55%	77.77%
Earnings before Tax (EBT) ¹	-	-	-	368.7	198.5	111.7	289.2	243.6
Net income ¹	-	-	-	368.7	-	129.3	281.6	269.4
Net margin	-	-	-	99.17%	-	65.27%	84.06%	83.66%
EPS ²	-	-	-	0.1900	-	0.0640	0.1390	0.1330
Free Cash Flow ¹	-	-	-	160.6	-	179	198	198
FCF margin	-	-	-	43.2%	-	90.36%	59.1%	61.49%
FCF Conversion (EBITDA)	-	-	-	43.56%	-	138.76%	70.21%	73.61%
FCF Conversion (Net income)	-	-	-	43.56%	-	138.44%	70.31%	73.5%
Dividend per Share ²	0.0805	0.0825	0.0825	0.0825	0.0825	0.0817	0.0817	0.0822
Announcement Date	5/22/19	5/19/20	5/26/21	5/25/22	5/24/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	168	225	267
Net Cash position ¹	2.5	0.6	0.4	1.2	1	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	1.305 x	0.7968 x	0.9933 x
Free Cash Flow ¹	-	-	-	161	-	179	198	198
ROE (net income / shareholders' equity)	10.4%	1.9%	5.5%	12.8%	6.3%	3.5%	7.9%	7.55%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	-	-	-	1.630	1.650	1.600	1.700	1.700
Cash Flow per Share	-	-	-	0.0800	0.0800	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	5/22/19	5/19/20	5/26/21	5/25/22	5/24/23	-	-	-

¹GBP in Million²GBP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.24 GBP

Average target price

1.547 GBP

Spread / Average Target

+24.76%

	1st Jan change	Capi.
HICL INFRASTRUCTURE PLC	-10.53%	3.14B
ARES CAPITAL CORPORATION	+3.74%	12.61B
PERSHING SQUARE HOLDINGS, LTD.	+5.50%	9.01B
FS KKR CAPITAL CORP.	-3.20%	5.41B
SPROTT PHYSICAL URANIUM TRUST FUND	+2.44%	5.25B
PIMCO DYNAMIC INCOME FUND	+5.63%	5.19B
SPROTT PHYSICAL SILVER TRUST	+14.36%	4.48B
SPROTT PHYSICAL GOLD AND SILVER TRUST	+16.67%	4.44B
MACQUARIE KOREA INFRASTRUCTURE FUND	+1.53%	4B
3I INFRASTRUCTURE PLC	+1.56%	3.75B