Financials Johnson Matthey Plc OTC Markets

Equities

JMPLF

GB00BZ4BQC70

Specialty Chemicals

Market Closed - OTC Markets Other stock markets 08:14:10 29/05/2024 pm IST			5-day change	1st Jan Change
23.3 ^USD	-.--%		-.--%	+6.88%

24/05	JOHNSON MATTHEY : Higher transformation costs take their toll
23/05	JOHNSON MATTHEY : ICEs might stay longer

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	6,032	3,454	5,801	3,463	3,624	3,215	-	-
Enterprise Value (EV) ¹	6,898	4,548	6,576	4,319	4,647	3,272	3,768	4,091
P/E ratio	14.6 x	13.6 x	28.3 x	-35.7 x	13.2 x	30.7 x	11.7 x	9.54 x
Yield	2.72%	3.09%	2.32%	4.1%	3.88%	4.43%	4.38%	4.66%
Capitalization / Revenue	1.43 x	0.83 x	1.48 x	0.88 x	0.86 x	0.84 x	0.83 x	0.83 x
EV / Revenue	1.64 x	1.09 x	1.68 x	1.1 x	1.11 x	0.84 x	0.97 x	1.05 x
EV / EBITDA	9.54 x	6.45 x	9.61 x	5.97 x	7.18 x	5.47 x	6 x	5.9 x
EV / FCF	-531 x	87.5 x	16.9 x	28.4 x	-186 x	23.6 x	15.5 x	23.5 x
FCF Yield	-0.19%	1.14%	5.9%	3.52%	-0.54%	4.24%	6.44%	4.25%
Price to Book	2.31 x	1.23 x	2.16 x	1.47 x	1.44 x	1.24 x	1.25 x	1.17 x
Nbr of stocks (in thousands)	1,91,973	1,92,093	1,92,522	1,84,333	1,82,716	1,82,883	-	-
Reference price ²	31.42	17.98	30.13	18.78	19.84	17.58	17.58	17.58
Announcement Date	30/05/19	11/06/20	27/05/21	26/05/22	25/05/23	23/05/24	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,214	4,170	3,922	3,940	4,201	3,904	3,882	3,882
EBITDA ¹	723	705	684	724	647	598	628.1	693.5
EBIT ¹	566	539	504	556	465	410	430	496.2
Operating Margin	13.43%	12.93%	12.85%	14.11%	11.07%	10.5%	11.08%	12.78%
Earnings before Tax (EBT) ¹	488	305	238	195	344	164	343.8	420
Net income ¹	413	255	205	-101	276	108	289.1	331.5
Net margin	9.8%	6.12%	5.23%	-2.56%	6.57%	2.77%	7.45%	8.54%
EPS ²	2.146	1.321	1.064	-0.5260	1.502	0.5830	1.504	1.843
Free Cash Flow ¹	-13	52	388	152	-25	179.5	242.5	174
FCF margin	-0.31%	1.25%	9.89%	3.86%	-0.6%	4.36%	6.25%	4.48%
FCF Conversion (EBITDA)	-	7.38%	56.73%	20.99%	-	29.51%	38.61%	25.09%
FCF Conversion (Net income)	-	20.39%	189.27%	-	-	73.01%	83.89%	52.48%
Dividend per Share ²	0.8550	0.5562	0.7000	0.7700	0.7700	0.7796	0.7699	0.8189
Announcement Date	30/05/19	11/06/20	27/05/21	26/05/22	25/05/23	23/05/24	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1
Net sales ¹	2,124	2,046	1,679	2,243	4,293	4,293	1,938	2,002	2,045	2,156	1,967
EBITDA	350	355	235	449	-	-	389	335	309	338	273
EBIT	265	274	151	353	-	-	293	263	222	243	180
Operating Margin	12.48%	13.39%	8.99%	15.74%	-	-	15.12%	13.14%	10.86%	11.27%	9.15%
Earnings before Tax (EBT)	225	80	26	212	-	-	-9	204	188	156	82
Net income	176	79	24	181	-	-	-28	-73	160	116	63
Net margin	8.29%	3.86%	1.43%	8.07%	-	-	-1.44%	-3.65%	7.82%	5.38%	3.2%
EPS	0.9160	1.230	0.1230	0.9410	-	-	-0.1480	-0.3780	0.8710	0.6310	0.3460
Dividend per Share	-	0.3112	0.2000	0.5000	-	-	0.2200	-	0.2200	-	-
Announcement Date	21/11/19	11/06/20	19/11/20	27/05/21	24/08/21	24/11/21	24/11/21	26/05/22	23/11/22	25/05/23	22/11/23

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	866	1,094	775	856	1,023	1,020	553	876
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.198 x	1.552 x	1.133 x	1.182 x	1.581 x	1.676 x	0.8801 x	1.263 x
Free Cash Flow ¹	-13	52	388	152	-25	180	243	174
ROE (net income / shareholders' equity)	16.6%	9.38%	12.7%	15.9%	11.1%	10.7%	11.5%	12.6%
ROA (Net income/ Total Assets)	7.98%	3.83%	2.71%	5.65%	4.03%	3.86%	8.72%	4.93%
Assets ¹	5,176	6,654	7,553	-1,788	6,847	6,365	3,317	6,718
Book Value Per Share ²	13.60	14.70	13.90	12.70	13.80	14.20	14.10	15.00
Cash Flow per Share ²	1.740	3.110	3.990	3.150	1.580	2.590	2.560	3.060
Capex ¹	301	443	381	453	316	347	354	336
Capex / Sales	7.14%	10.62%	9.71%	11.5%	7.52%	8.42%	9.12%	8.66%
Announcement Date	30/05/19	11/06/20	27/05/21	26/05/22	25/05/23	23/05/24	-	-

¹GBP in Million²GBP

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Johnson Matthey Plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

17.58 GBP

Average target price

20.08 GBP

Spread / Average Target

+14.20%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Specialty Chemicals

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SIKA AG	-0.29%	49.06B
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FUJIFILM HOLDINGS CORPORATION	+26.72%	27.27B
EMS-CHEMIE HOLDING AG	+9.25%	19.24B
SYMRISE AG	+9.75%	16.57B
CELANESE CORPORATION	-2.14%	16.53B
ALBEMARLE CORPORATION	-15.01%	14.55B
POSCO FUTURE M CO., LTD.	-30.22%	14.09B

Other Specialty Chemicals