Balance Sheet RS Group plc

Equities

ECM

GB0003096442

Electronic Equipment & Parts

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Published financial data: RS GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	1.95B	2B	2.55B	2.98B	2.94B
Total Revenues	1.95B	2B	2.55B	2.98B	2.94B
Cost of Goods Sold, Total	1.1B	1.15B	1.43B	1.63B	1.68B
Gross Profit	855M	856M	1.13B	1.35B	1.26B
Selling General & Admin Expenses, Total	649M	686M	819M	969M	414M
Provision for Bad Debts	-	-	-	-	3.4M
Depreciation & Amortization - (IS)	-	-	-	-	35.5M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	48.2M
Other Operating Expenses	-	-	-	-	476M
Other Operating Expenses, Total	649M	686M	819M	969M	978M
Operating Income	205M	170M	309M	383M	286M
Interest Expense, Total	-9.1M	-8.4M	-7.7M	-11.5M	-32.3M
Interest And Investment Income	3.3M	1.8M	1M	2M	4.8M
Net Interest Expenses	-5.8M	-6.6M	-6.7M	-9.5M	-27.5M
Income (Loss) On Equity Invest.	200K	200K	500K	700K	600K
Currency Exchange Gains (Loss)	-	-	-	-	400K
Other Non Operating Income (Expenses)	-100K	-200K	-400K	-2.7M	-4.3M
EBT, Excl. Unusual Items	200M	164M	302M	372M	256M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-	-2.9M	-	-	-5.1M
Gain (Loss) On Sale Of Assets	-	-	-	-	-1.6M
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	200M	161M	302M	372M	249M
Income Tax Expense	44.9M	35.1M	72.2M	86.7M	65.1M
Earnings From Continuing Operations	155M	126M	230M	285M	184M
Net Income to Company	155M	126M	230M	285M	184M
Net Income - (IS)	155M	126M	230M	285M	184M
Net Income to Common Incl Extra Items	155M	126M	230M	285M	184M
Net Income to Common Excl. Extra Items	155M	126M	230M	285M	184M
Per Share Items
Net EPS - Basic	0.35	0.28	0.49	0.6	0.39
Basic EPS - Continuing Operations	0.35	0.28	0.49	0.6	0.39
Basic Weighted Average Shares Outstanding	445M	454M	471M	472M	473M
Net EPS - Diluted	0.35	0.27	0.49	0.6	0.39
Diluted EPS - Continuing Operations	0.35	0.27	0.49	0.6	0.39
Diluted Weighted Average Shares Outstanding	448M	456M	473M	473M	474M
Normalized Basic EPS	0.28	0.23	0.4	0.49	0.34
Normalized Diluted EPS	0.28	0.22	0.4	0.49	0.34
Dividend Per Share	0.15	0.16	0.18	0.21	0.22
Payout Ratio	44.28	56.73	33.13	31.11	56.67
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	222M	192M	335M	414M	330M
EBITA	210M	176M	319M	396M	313M
EBIT	205M	170M	309M	383M	286M
EBITDAR	225M	194M	-	-	-
Effective Tax Rate - (Ratio)	22.49	21.86	23.89	23.34	26.17
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	42.1M	29.1M	71.8M	88.9M	74.1M
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	2.8M	6M	400K	-2.2M	-9M
Normalized Net Income	125M	102M	189M	232M	160M
Interest Capitalized	1.2M	900K	500K	-	-
Interest on Long-Term Debt	1.1M	1.9M	1.4M	1.1M	2.9M
Non-Cash Pension Expense	2.6M	1.8M	1.5M	1.2M	2.5M
Supplemental Operating Expense Items
Selling and Marketing Expenses	596M	630M	756M	890M	-
General and Administrative Expenses	53.2M	55.8M	63.5M	79.7M	-
Research And Development Expense From Footnotes	-	200K	1M	1M	700K
Net Rental Expense, Total	3.6M	2M	-	-	-
Imputed Operating Lease Interest Expense	920K	418K	-	-	-
Imputed Operating Lease Depreciation	2.68M	1.58M	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	8.2M
Stock-Based Comp., Other (Total)	4.9M	13.2M	13.6M	15.5M	-
Total Stock-Based Compensation	4.9M	13.2M	13.6M	15.5M	8.2M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	201M	198M	258M	260M	259M
Trading Asset Securities, Total	-	-	100K	-	-
Total Cash And Short Term Investments	201M	198M	258M	260M	259M
Accounts Receivable, Total	357M	432M	530M	610M	621M
Other Receivables	41.9M	56.6M	49.3M	65.6M	59.2M
Total Receivables	399M	489M	579M	676M	680M
Inventory	419M	420M	530M	616M	656M
Prepaid Expenses	21.3M	24.9M	27.3M	36.1M	43.9M
Other Current Assets, Total	4.3M	2.2M	1.4M	1.8M	2.6M
Total Current Assets	1.04B	1.13B	1.4B	1.59B	1.64B
Gross Property Plant And Equipment	500M	500M	490M	519M	552M
Accumulated Depreciation	-278M	-271M	-267M	-286M	-298M
Net Property Plant And Equipment	222M	229M	223M	233M	254M
Long-term Investments	2M	2.2M	1.5M	1.5M	1.3M
Goodwill	241M	310M	330M	463M	646M
Other Intangibles, Total	88.5M	157M	142M	241M	336M
Deferred Tax Assets Long-Term	17.1M	9.9M	4.9M	6.9M	9.5M
Deferred Charges Long-Term	-	1.7M	1.1M	400K	0
Other Long-Term Assets, Total	2.8M	3.7M	3.3M	7.3M	9.9M
Total Assets	1.62B	1.85B	2.1B	2.54B	2.9B
Liabilities
Accounts Payable, Total	241M	319M	377M	398M	382M
Accrued Expenses, Total	103M	133M	173M	225M	175M
Short-term Borrowings	174M	112M	99.5M	140M	163M
Current Portion of Long-Term Debt	-	-	200K	-	-
Current Portion of Leases	15M	17.4M	16.7M	14.6M	16M
Current Income Taxes Payable	18.2M	19.2M	19.9M	22.1M	27.8M
Unearned Revenue Current, Total	800K	700K	8.3M	7.7M	4.5M
Other Current Liabilities	18.7M	28.7M	31M	31.2M	47.6M
Total Current Liabilities	570M	631M	726M	839M	815M
Long-Term Debt	162M	147M	152M	185M	440M
Long-Term Leases	41.3M	44.1M	32M	34.3M	57.9M
Unearned Revenue Non Current	3M	2.6M	2.5M	2.3M	2.2M
Pension & Other Post Retirement Benefits	59.4M	58.1M	14.5M	40.7M	31M
Deferred Tax Liability Non Current	59.3M	60.4M	60.4M	90.1M	103M
Other Non Current Liabilities	2.6M	4.2M	5.4M	8.2M	15.5M
Total Liabilities	898M	948M	993M	1.2B	1.47B
Common Stock, Total	44.6M	47M	47.1M	47.3M	47.4M
Additional Paid In Capital	51.4M	228M	231M	236M	240M
Retained Earnings	543M	588M	773M	954M	1.04B
Treasury Stock	-700K	-1.5M	-3M	-2.2M	-1.8M
Comprehensive Income and Other	81.5M	37.6M	60.2M	109M	108M
Total Common Equity	720M	899M	1.11B	1.34B	1.43B
Minority Interest	-	-	-	700K	600K
Total Equity	720M	899M	1.11B	1.34B	1.43B
Total Liabilities And Equity	1.62B	1.85B	2.1B	2.54B	2.9B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	446M	470M	471M	472M	474M
ECS Total Common Shares Outstanding	446M	470M	471M	472M	474M
Book Value / Share	1.61	1.91	2.35	2.85	3.02
Tangible Book Value	390M	432M	636M	640M	450M
Tangible Book Value Per Share	0.87	0.92	1.35	1.35	0.95
Total Debt	392M	321M	300M	373M	677M
Net Debt	191M	123M	42.1M	113M	418M
Debt Equivalent of Unfunded Proj. Benefit Obligation	14.6M	55.7M	-12.5M	-24.7M	-30.2M
Debt Equivalent Oper. Leases	28.8M	16M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	-	700K	600K
Equity Method Investments, Total	1M	1.1M	1.5M	1.5M	1.3M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	75.5M	69.1M	66.4M	96.6M	111M
Inventories - Finished Goods, Total	371M	391M	493M	563M	614M
Land - (BS)	148M	151M	156M	164M	163M
Buildings, Total	-	-	-	-	-
Machinery, Total	282M	291M	288M	309M	316M
Full Time Employees	7.02K	7.41K	7.65K	8.77K	9K
Accumulated Allowance for Doubtful Accounts (Supple)	6.9M	7.4M	9.1M	12.6M	11.1M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	155M	126M	230M	285M	184M
Depreciation & Amortization - CF	27.6M	32.8M	33.5M	36.2M	35.5M
Amortization of Goodwill and Intangible Assets - (CF)	4.5M	5.9M	10.4M	12.9M	26.3M
Depreciation & Amortization, Total	32.1M	38.7M	43.9M	49.1M	61.8M
Amortization of Deferred Charges, Total - (CF)	18.8M	17.8M	19.8M	15.5M	21.9M
(Gain) Loss From Sale Of Asset	100K	300K	2.4M	4.4M	1.6M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	7.1M	5M
(Income) Loss On Equity Investments - (CF)	-200K	-200K	-300K	-100K	-
Stock-Based Compensation (CF)	3.4M	7M	9.9M	14.2M	7.8M
Other Operating Activities, Total	-5.3M	-1.6M	15.2M	-7.6M	-7.3M
Change In Accounts Receivable	10M	-32.6M	-96.5M	-37.8M	8.1M
Change In Inventories	-25.2M	-4.4M	-102M	-44.3M	4.9M
Change In Accounts Payable	-36M	35.5M	82.4M	33.2M	-82.2M
Change in Other Net Operating Assets	-5.3M	1.6M	-1.7M	-12M	-8.7M
Cash from Operations	147M	188M	203M	306M	197M
Capital Expenditure	-74.7M	-54.7M	-42.5M	-18.6M	-15.9M
Sale of Property, Plant, and Equipment	-	-	-	100K	-
Cash Acquisitions	-200K	-136M	2.2M	-224M	-304M
Sale (Purchase) of Intangible assets	-	-	-	-27.5M	-35.7M
Cash from Investing	-74.9M	-190M	-40.3M	-270M	-356M
Long-Term Debt Issued, Total	163M	-	-	83.2M	287M
Total Debt Issued	163M	-	-	83.2M	287M
Long-Term Debt Repaid, Total	-193M	-40.7M	-18.5M	-76.9M	-45.8M
Total Debt Repaid	-193M	-40.7M	-18.5M	-76.9M	-45.8M
Issuance of Common Stock	2M	180M	3M	4.8M	3.6M
Repurchase of Common Stock	-900K	-1.6M	-2.9M	-2.1M	-1.5M
Common Dividends Paid	-68.5M	-71.2M	-76.2M	-88.6M	-104M
Common & Preferred Stock Dividends Paid	-68.5M	-71.2M	-76.2M	-88.6M	-104M
Other Financing Activities, Total	2.6M	-	-	-	-
Cash from Financing	-95.5M	66M	-94.6M	-79.6M	139M
Foreign Exchange Rate Adjustments	7M	-11.8M	3.9M	5.7M	-4.3M
Net Change in Cash	-16.3M	51.6M	72M	-37.9M	-24.5M
Supplemental Items
Cash Interest Paid	9.6M	10.1M	8M	14.6M	35.8M
Cash Income Tax Paid (Refund)	49.9M	35.2M	57.1M	93.9M	73.3M
Levered Free Cash Flow	39.42M	143M	130M	148M	98.45M
Unlevered Free Cash Flow	45.11M	149M	135M	155M	119M
Change In Net Working Capital	64.3M	-27.3M	92.6M	118M	101M
Net Debt Issued / Repaid	-30.7M	-40.7M	-18.5M	6.3M	241M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	8.51	6.14	9.78	10.31	6.58
Return on Total Capital	13.13	9.12	14.68	15.31	9.35
Return On Equity %	23.63	15.5	22.91	23.22	13.23
Return on Common Equity	23.63	15.5	22.91	23.22	13.23
Margin Analysis
Gross Profit Margin %	43.75	42.74	44.17	45.34	42.95
SG&A Margin	33.24	34.25	32.08	32.5	14.09
EBITDA Margin %	11.35	9.57	13.12	13.88	11.2
EBITA Margin %	10.74	8.79	12.5	13.27	10.62
EBIT Margin %	10.51	8.49	12.09	12.84	9.73
Income From Continuing Operations Margin %	7.92	6.27	9.01	9.55	6.24
Net Income Margin %	7.92	6.27	9.01	9.55	6.24
Net Avail. For Common Margin %	7.92	6.27	9.01	9.55	6.24
Normalized Net Income Margin	6.38	5.1	7.4	7.79	5.43
Levered Free Cash Flow Margin	2.02	7.16	5.11	4.96	3.35
Unlevered Free Cash Flow Margin	2.31	7.42	5.29	5.2	4.03
Asset Turnover
Asset Turnover	1.3	1.16	1.29	1.28	1.08
Fixed Assets Turnover	11.44	8.89	11.3	13.07	12.09
Receivables Turnover (Average Receivables)	5.4	5.08	5.31	5.23	4.78
Inventory Turnover (Average Inventory)	2.73	2.73	3	2.85	2.64
Short Term Liquidity
Current Ratio	1.83	1.8	1.92	1.9	2.01
Quick Ratio	1.05	1.09	1.15	1.12	1.15
Operating Cash Flow to Current Liabilities	0.26	0.3	0.28	0.37	0.24
Days Sales Outstanding (Average Receivables)	67.79	71.92	68.73	69.75	76.57
Days Outstanding Inventory (Average Inventory)	134.23	133.5	121.51	128.28	138.71
Average Days Payable Outstanding	80.73	89.14	82.81	82.46	83.11
Cash Conversion Cycle (Average Days)	121.29	116.27	107.44	115.56	132.18
Long Term Solvency
Total Debt/Equity	54.4	35.69	27.07	27.76	47.24
Total Debt / Total Capital	35.23	26.3	21.3	21.73	32.08
LT Debt/Equity	28.21	21.28	16.57	16.28	34.77
Long-Term Debt / Total Capital	18.27	15.68	13.04	12.74	23.61
Total Liabilities / Total Assets	55.5	51.31	47.24	47.13	50.56
EBIT / Interest Expense