Financials Conduit Holdings Limited

Equities

CRE

BMG243851091

Reinsurance

Market Closed - London S.E. Other stock markets 09:05:21 25/06/2024 pm IST			5-day change	1st Jan Change
506 ^GBX	-2.50%		-1.75%	+7.89%

17/05	Conduit Chief Executive buys GBP94,320 worth shares	AN
16/05	Barclays raises Travis Perkins to 'overweight'	AN

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	966.7	829	943.6	1,007	-	-
Enterprise Value (EV) ¹	966.7	829	943.6	1,007	1,007	1,007
P/E ratio	-23.4 x	-9.41 x	5.02 x	5.63 x	4.83 x	4.5 x
Yield	6.15%	6.95%	6.03%	5.68%	5.74%	6.42%
Capitalization / Revenue	4.98 x	1.72 x	1.7 x	1.41 x	1.24 x	1.15 x
EV / Revenue	4.98 x	1.72 x	1.7 x	1.41 x	1.24 x	1.15 x
EV / EBITDA	-	-	-	-	-	-
EV / FCF	-24.7 x	4.08 x	3.06 x	15.3 x	5.65 x	4.44 x
FCF Yield	-4.04%	24.5%	32.7%	6.52%	17.7%	22.5%
Price to Book	0.99 x	1.02 x	0.96 x	0.91 x	0.79 x	0.7 x
Nbr of stocks (in thousands)	1,65,207	1,60,141	1,58,056	1,56,978	-	-
Reference price ²	5.851	5.177	5.970	6.413	6.413	6.413
Announcement Date	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	194.2	482.3	556.3	716	814.2	878.6
EBITDA	-	-	-	-	-	-
EBIT ¹	-41.5	-88.9	192	191.6	222.8	235.3
Operating Margin	-21.37%	-18.43%	34.51%	26.76%	27.36%	26.78%
Earnings before Tax (EBT) ¹	-42	-89.7	190.8	194.7	224.2	241.5
Net income ¹	-42	-89.7	190.8	190.4	210.1	221.5
Net margin	-21.63%	-18.6%	34.3%	26.6%	25.81%	25.21%
EPS ²	-0.2500	-0.5500	1.190	1.140	1.327	1.425
Free Cash Flow ¹	-39.1	203.2	308.7	65.6	178.1	226.7
FCF margin	-20.13%	42.13%	55.49%	9.16%	21.87%	25.8%
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	161.79%	34.45%	84.76%	102.35%
Dividend per Share ²	0.3600	0.3600	0.3600	0.3640	0.3680	0.4120
Announcement Date	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2023 S2
Net sales	-	210	278.7	-
EBITDA	-	-	-	-
EBIT	-	-	-	-
Operating Margin	-	-	-	-
Earnings before Tax (EBT)	-	-61.4	78.6	-
Net income	-	-61.4	78.6	-
Net margin	-	-29.24%	28.2%	-
EPS ¹	-	-0.3700	-	0.7000
Dividend per Share	0.1800	0.1800	-	-
Announcement Date	-	27/07/22	26/07/23	21/02/24

¹USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-39.1	203	309	65.6	178	227
ROE (net income / shareholders' equity)	-4%	-9.1%	20.6%	18.4%	18%	16.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-
Book Value Per Share ²	5.940	5.090	6.250	7.080	8.070	9.120
Cash Flow per Share ²	0.2900	1.240	1.930	0.3300	0.8900	1.140
Capex	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-
Announcement Date	24/02/22	22/02/23	21/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Conduit Holdings Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.413 USD

Average target price

8.597 USD

Spread / Average Target

+34.07%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Property & Casualty Reinsurance

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