Financials DFS Furniture plc

Equities

Market Closed - London S.E. Other stock markets 09:05:29 21/06/2024 pm IST			5-day change	1st Jan Change
111 ^GBX	-4.31%		+2.78%	-8.87%

13/06	Jefferies raises Great Portland to 'hold'	AN
12/06	Jefferies Keeps DFS Furniture at Buy, Cuts PT	MT

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	538.9	420.9	735.1	398.8	251.3	255.8	-	-
Enterprise Value (EV) ¹	715.2	1,094	1,206	932.7	801.8	874.7	841.5	802.7
P/E ratio	-	-5.25 x	8.25 x	13 x	9.93 x	31.8 x	13.1 x	6.86 x
Yield	4.41%	-	2.64%	4.65%	4.12%	1.58%	2.57%	5.79%
Capitalization / Revenue	0.54 x	0.58 x	0.69 x	0.35 x	0.23 x	0.26 x	0.25 x	0.24 x
EV / Revenue	0.72 x	1.51 x	1.13 x	0.81 x	0.74 x	0.88 x	0.81 x	0.75 x
EV / EBITDA	7.93 x	17.7 x	5.42 x	5.3 x	5.09 x	6.22 x	5.45 x	4.46 x
EV / FCF	-	33.9 x	4.83 x	10.9 x	-115 x	-86.6 x	23.5 x	15.5 x
FCF Yield	-	2.95%	20.7%	9.17%	-0.87%	-1.15%	4.25%	6.44%
Price to Book	-	1.8 x	2.57 x	1.51 x	1.08 x	1.06 x	0.99 x	0.88 x
Nbr of stocks (in thousands)	2,12,174	2,55,370	2,58,386	2,50,834	2,30,103	2,30,458	-	-
Reference price ²	2.540	1.648	2.845	1.590	1.092	1.110	1.110	1.110
Announcement Date	26/09/19	24/09/20	23/09/21	15/09/22	10/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	996.2	724.5	1,068	1,150	1,089	997.3	1,036	1,077
EBITDA ¹	90.2	61.9	222.6	175.9	157.4	140.6	154.4	179.9
EBIT ¹	60.9	-25.6	137.3	87.7	63.3	48.85	60.02	81.93
Operating Margin	6.11%	-3.53%	12.86%	7.63%	5.81%	4.9%	5.79%	7.61%
Earnings before Tax (EBT) ¹	43.6	-74.9	99.2	58.5	29.7	10.5	28.75	45.5
Net income ¹	-	-63	88.7	31.4	26.2	9.612	20.35	38.41
Net margin	-	-8.7%	8.31%	2.73%	2.41%	0.96%	1.96%	3.57%
EPS ²	-	-0.3140	0.3450	0.1220	0.1100	0.0349	0.0846	0.1617
Free Cash Flow ¹	-	32.3	249.8	85.5	-7	-10.1	35.8	51.7
FCF margin	-	4.46%	23.4%	7.44%	-0.64%	-1.01%	3.46%	4.8%
FCF Conversion (EBITDA)	-	52.18%	112.22%	48.61%	-	-	23.18%	28.74%
FCF Conversion (Net income)	-	-	281.62%	272.29%	-	-	175.96%	134.61%
Dividend per Share ²	0.1120	-	0.0750	0.0740	0.0450	0.0176	0.0286	0.0643
Announcement Date	26/09/19	24/09/20	23/09/21	15/09/22	10/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: June	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	176	674	471	534	551	619	586	547
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.955 x	10.88 x	2.117 x	3.035 x	3.497 x	4.402 x	3.792 x	3.041 x
Free Cash Flow ¹	-	32.3	250	85.5	-7	-10.1	35.8	51.7
ROE (net income / shareholders' equity)	-	-23.6%	-	16.1%	8.93%	2.85%	6.5%	16.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	-	0.9200	1.110	1.050	1.010	1.050	1.120	1.270
Cash Flow per Share ²	-	-	-	-	-	0.0300	0.2000	0.2700
Capex ¹	26.3	23.4	49.2	47.4	34.9	25	28.3	32.5
Capex / Sales	2.64%	3.23%	4.61%	4.12%	3.21%	2.51%	2.73%	3.02%
Announcement Date	26/09/19	24/09/20	23/09/21	15/09/22	10/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

1.11 GBP

Average target price

1.438 GBP

Spread / Average Target

+29.50%

	1st Jan change	Capi.
DFS FURNITURE PLC	-8.87%	32Cr
TEMPUR SEALY INTERNATIONAL, INC.	-4.67%	843.65Cr
JASON FURNITURE (HANGZHOU) CO.,LTD.	-5.71%	369.67Cr
SUOFEIYA HOME COLLECTION CO., LTD.	+0.75%	210.63Cr
DE RUCCI HEALTHY SLEEP CO., LTD.	-3.64%	161.91Cr
LA-Z-BOY INCORPORATED	+2.63%	158.95Cr
SHEELA FOAM LIMITED	-23.70%	123.09Cr
MOTOMOTION CHINA CORPORATION	+33.87%	117.41Cr
XILINMEN FURNITURE CO.,LTD	+4.64%	93Cr
HENGLIN HOME FURNISHINGS CO.,LTD	-1.77%	82Cr