Cash flow Tate & Lyle plc

Equities

TATE

GB00BP92CJ43

Food Processing

Market Closed - London S.E. Other stock markets 11:35:19 2024-12-06 am EST			5-day change	1st Jan Change
709.00 ^GBX	-0.49%		-3.80%	+7.59%

Dec. 03	RBC raises Ashtead; Deutsche Bank cuts Currys	AN
Nov. 18	Tate & Lyle issues shares to complete purchase of CP Kelco	AN

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Published financial data: TATE & LYLE PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	2.88B	2.81B	1.38B	1.75B	1.65B
Total Revenues	2.88B	2.81B	1.38B	1.75B	1.65B
Cost of Goods Sold, Total	1.63B	1.66B	696M	876M	796M
Gross Profit	1.26B	1.14B	679M	875M	851M
Selling General & Admin Expenses, Total	191M	182M	263M	287M	265M
Provision for Bad Debts	5M	-2M	-	-	-
R&D Expenses	34M	43M	-	-	-
Depreciation & Amortization - (IS)	137M	142M	56M	59M	58M
Amortization of Goodwill and Intangible Assets - (IS)	35M	33M	24M	36M	36M
Other Operating Expenses	530M	412M	173M	270M	261M
Other Operating Expenses, Total	932M	810M	516M	652M	620M
Operating Income	323M	332M	163M	223M	231M
Interest Expense, Total	-33M	-26M	-23M	-29M	-22M
Interest And Investment Income	5M	1M	1M	12M	19M
Net Interest Expenses	-28M	-25M	-22M	-17M	-3M
Income (Loss) On Equity Invest.	28M	26M	-	-24M	25M
Currency Exchange Gains (Loss)	-1M	-	-2M	-1M	-
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	322M	333M	139M	181M	253M
Restructuring Charges	-24M	-20M	-1M	-5M	-21M
Merger & Related Restructuring Charges	-	-	-	-	-2M
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-2M	-8M	-17M	-1M	-1M
Insurance Settlements	-	2M	-	-	-
Legal Settlements	-	-5M	-	-3M	-
Other Unusual Items	-	-19M	-79M	-20M	-3M
EBT, Incl. Unusual Items	296M	283M	42M	152M	226M
Income Tax Expense	51M	30M	16M	25M	47M
Earnings From Continuing Operations	245M	253M	26M	127M	179M
Earnings Of Discontinued Operations	-	-	210M	63M	9M
Net Income to Company	245M	253M	236M	190M	188M
Net Income - (IS)	245M	253M	236M	190M	188M
Net Income to Common Incl Extra Items	245M	253M	236M	190M	188M
Net Income to Common Excl. Extra Items	245M	253M	26M	127M	179M
Per Share Items
Net EPS - Basic	0.62	0.64	0.59	0.47	0.47
Basic EPS - Continuing Operations	0.62	0.64	0.07	0.31	0.45
Basic Weighted Average Shares Outstanding	398M	398M	399M	404M	397M
Net EPS - Diluted	0.61	0.63	0.59	0.46	0.47
Diluted EPS - Continuing Operations	0.61	0.63	0.06	0.31	0.44
Diluted Weighted Average Shares Outstanding	403M	402M	403M	411M	404M
Normalized Basic EPS	0.51	0.52	0.22	0.28	0.4
Normalized Diluted EPS	0.5	0.52	0.22	0.27	0.39
Dividend Per Share	0.35	0.36	0.22	0.18	0.19
Payout Ratio	55.92	54.15	61.02	38.42	40.43
American Depositary Receipts Ratio (ADR)	4	4	4	4	4
Supplemental Items
EBITDA	464M	478M	250M	296M	303M
EBITA	358M	365M	189M	246M	254M
EBIT	323M	332M	163M	223M	231M
EBITDAR	466M	479M	-	-	-
Effective Tax Rate - (Ratio)	17.23	10.6	38.1	16.45	20.8
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	41M	48M	36M	45M	71M
Total Deferred Taxes	10M	-18M	-20M	-20M	-24M
Normalized Net Income	201M	208M	86.88M	113M	158M
Interest on Long-Term Debt	7M	6M	2M	2M	2M
Non-Cash Pension Expense	2M	7M	-8M	5M	3M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	34M	43M	41M	46M	44M
Net Rental Expense, Total	2M	1M	-	-	-
Imputed Operating Lease Interest Expense	801K	275K	-	-	-
Imputed Operating Lease Depreciation	1.2M	725K	-	-	-
Stock-Based Comp., Other (Total)	14M	8M	12M	20M	13M
Total Stock-Based Compensation	14M	8M	12M	20M	13M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	271M	371M	110M	475M	437M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	271M	371M	110M	475M	437M
Accounts Receivable, Total	294M	295M	223M	278M	233M
Other Receivables	21M	35M	42M	66M	48M
Total Receivables	315M	330M	265M	344M	281M
Inventory	456M	532M	317M	446M	353M
Prepaid Expenses	16M	14M	16M	16M	16M
Other Current Assets, Total	74M	55M	1.68B	3M	-
Total Current Assets	1.13B	1.3B	2.39B	1.28B	1.09B
Gross Property Plant And Equipment	3.52B	3.33B	1.33B	1.48B	1.54B
Accumulated Depreciation	-2.33B	-2.22B	-831M	-996M	-1.01B
Net Property Plant And Equipment	1.19B	1.1B	497M	488M	528M
Long-term Investments	154M	163M	46M	241M	193M
Goodwill	202M	228M	203M	308M	296M
Other Intangibles, Total	138M	126M	80M	123M	91M
Deferred Tax Assets Long-Term	30M	32M	9M	13M	28M
Deferred Charges Long-Term	-	-	-	21M	19M
Other Long-Term Assets, Total	5M	20M	27M	29M	40M
Total Assets	2.85B	2.98B	3.25B	2.51B	2.28B
Liabilities
Accounts Payable, Total	250M	267M	151M	250M	174M
Accrued Expenses, Total	107M	120M	124M	106M	67M
Short-term Borrowings	10M	15M	11M	14M	7M
Current Portion of Long-Term Debt	-	-	-	97M	-
Current Portion of Leases	30M	27M	10M	10M	10M
Current Income Taxes Payable	38M	25M	23M	62M	47M
Other Current Liabilities	73M	103M	461M	33M	33M
Total Current Liabilities	508M	557M	780M	572M	338M
Long-Term Debt	541M	630M	609M	548M	537M
Long-Term Leases	141M	116M	49M	44M	36M
Pension & Other Post Retirement Benefits	207M	158M	130M	118M	111M
Deferred Tax Liability Non Current	42M	44M	51M	30M	19M
Other Non Current Liabilities	13M	11M	12M	5M	2M
Total Liabilities	1.45B	1.52B	1.63B	1.32B	1.04B
Common Stock, Total	117M	117M	117M	117M	117M
Additional Paid In Capital	406M	407M	407M	408M	408M
Retained Earnings	629M	783M	865M	513M	623M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	247M	152M	230M	151M	90M
Total Common Equity	1.4B	1.46B	1.62B	1.19B	1.24B
Minority Interest	-	1M	1M	1M	1M
Total Equity	1.4B	1.46B	1.62B	1.19B	1.24B
Total Liabilities And Equity	2.85B	2.98B	3.25B	2.51B	2.28B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	397M	398M	398M	398M	396M
ECS Total Common Shares Outstanding	397M	398M	398M	398M	396M
Book Value / Share	3.52	3.66	4.07	2.99	3.13
Tangible Book Value	1.06B	1.1B	1.34B	758M	851M
Tangible Book Value Per Share	2.67	2.78	3.36	1.91	2.15
Total Debt	722M	788M	679M	713M	590M
Net Debt	451M	417M	569M	238M	153M
Debt Equivalent of Unfunded Proj. Benefit Obligation	128M	83M	95M	100M	82M
Debt Equivalent Oper. Leases	16M	8M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	1M	1M	1M	1M
Equity Method Investments, Total	91M	104M	-	199M	165M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	232M	280M	93M	130M	106M
Inventories - Work In Process, Total	20M	21M	20M	38M	20M
Inventories - Finished Goods, Total	204M	231M	204M	278M	227M
Land - (BS)	694M	654M	285M	321M	316M
Machinery, Total	2.74B	2.56B	979M	1.07B	1.09B
Full Time Employees	4.22K	4.44K	4.59K	3.6K	3.32K
Accumulated Allowance for Doubtful Accounts (Supple)	12M	9M	12M	12M	7M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	245M	253M	236M	190M	188M
Depreciation & Amortization - CF	137M	142M	74M	59M	58M
Amortization of Goodwill and Intangible Assets - (CF)	35M	33M	26M	23M	23M
Depreciation & Amortization, Total	172M	175M	100M	82M	81M
Amortization of Deferred Charges, Total - (CF)	-	-	-	13M	13M
(Gain) Loss From Sale Of Asset	-	-	13M	-	-
(Gain) Loss on Sale of Investments - (CF)	3M	-	-	-	-
Asset Writedown & Restructuring Costs	1M	6M	26M	-88M	-48M
(Income) Loss On Equity Investments - (CF)	-28M	-26M	-8M	24M	-25M
Stock-Based Compensation (CF)	14M	8M	12M	20M	13M
Net Cash From Discontinued Operations	-	-	4M	-84M	-24M
Other Operating Activities, Total	-24M	-23M	-30M	19M	3M
Change In Accounts Receivable	11M	-38M	-151M	-55M	36M
Change In Inventories	-16M	-27M	-147M	-118M	78M
Change In Accounts Payable	19M	40M	79M	71M	-103M
Change in Other Net Operating Assets	-12M	1M	-31M	-8M	-4M
Cash from Operations	385M	369M	103M	66M	208M
Capital Expenditure	-141M	-134M	-132M	-70M	-101M
Sale of Property, Plant, and Equipment	-	5M	-	-	-
Cash Acquisitions	-	-62M	1M	-192M	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-25M	-18M	-16M	-8M	-9M
Investment in Marketable and Equity Securities, Total	-2M	-1M	0	8M	0
Other Investing Activities, Total	39M	5M	34M	1.1B	90M
Cash from Investing	-129M	-205M	-113M	835M	-20M
Long-Term Debt Issued, Total	157M	154M	2M	1M	-
Total Debt Issued	157M	154M	2M	1M	-
Long-Term Debt Repaid, Total	-271M	-41M	-92M	-16M	-114M
Total Debt Repaid	-271M	-41M	-92M	-16M	-114M
Repurchase of Common Stock	-22M	-5M	-13M	-13M	-25M
Common Dividends Paid	-137M	-137M	-144M	-73M	-76M
Common & Preferred Stock Dividends Paid	-137M	-137M	-144M	-73M	-76M
Special Dividend Paid	-	-	-	-497M	-
Cash from Financing	-273M	-29M	-247M	-598M	-215M
Foreign Exchange Rate Adjustments	3M	-35M	13M	45M	-11M
Net Change in Cash	-14M	100M	-244M	348M	-38M
Supplemental Items
Cash Interest Paid	30M	22M	21M	25M	24M
Cash Income Tax Paid (Refund)	49M	57M	45M	19M	64M
Levered Free Cash Flow	157M	199M	-1.05B	1.39B	157M
Unlevered Free Cash Flow	178M	216M	-1.04B	1.41B	170M
Change In Net Working Capital	44M	23M	1.1B	-1.23B	-29M
Net Debt Issued / Repaid	-114M	113M	-90M	-15M	-114M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	7.15	7.12	3.28	4.84	6.03
Return on Total Capital	9.6	9.5	4.49	6.63	7.74
Return On Equity %	16.97	17.7	1.69	9.04	14.74
Return on Common Equity	16.97	17.7	1.69	9.05	14.75
Margin Analysis
Gross Profit Margin %	43.55	40.68	49.38	49.97	51.67
SG&A Margin	6.63	6.48	19.13	16.39	16.09
EBITDA Margin %	16.1	17.03	18.18	16.9	18.4
EBITA Margin %	12.42	13	13.75	14.05	15.42
EBIT Margin %	11.21	11.83	11.85	12.74	14.03
Income From Continuing Operations Margin %	8.5	9.01	1.89	7.25	10.87
Net Income Margin %	8.5	9.01	17.16	10.85	11.41
Net Avail. For Common Margin %	8.5	9.01	1.89	7.25	10.87
Normalized Net Income Margin	6.98	7.41	6.32	6.46	9.6
Levered Free Cash Flow Margin	5.46	7.1	-76.55	79.45	9.51
Unlevered Free Cash Flow Margin	6.17	7.68	-75.5	80.49	10.34
Asset Turnover
Asset Turnover	1.02	0.96	0.44	0.61	0.69
Fixed Assets Turnover	2.65	2.45	1.72	3.81	3.24
Receivables Turnover (Average Receivables)	9.85	9.53	5.31	6.99	6.45
Inventory Turnover (Average Inventory)	3.66	3.37	1.64	2.3	1.99
Short Term Liquidity
Current Ratio	2.23	2.34	3.06	2.24	3.22
Quick Ratio	1.15	1.26	0.48	1.43	2.12
Operating Cash Flow to Current Liabilities	0.76	0.66	0.13	0.12	0.62
Days Sales Outstanding (Average Receivables)	37.15	38.29	68.75	52.22	56.78
Days Outstanding Inventory (Average Inventory)	100.1	108.29	222.62	158.96	183.69
Average Days Payable Outstanding	53.71	54.19	158.6	72.82	110.37
Cash Conversion Cycle (Average Days)	83.54	92.39	132.77	138.36	130.09
Long Term Solvency
Total Debt/Equity	51.61	53.97	41.91	59.92	47.62
Total Debt / Total Capital	34.04	35.05	29.53	37.47	32.26
LT Debt/Equity	48.75	51.1	40.62	49.75	46.25
Long-Term Debt / Total Capital