Financials Uniphar plc

Equities

UPR

IE00BJ5FQX74

Pharmaceuticals

Market Closed - Irish S.E. Other stock markets 09:25:00 26/04/2024 pm IST			5-day change	1st Jan Change
2.52 ^EUR	+0.40%		-0.20%	-6.67%

27/02	Uniphar ups full-year dividend as profit falls but revenue climbs	AN
27/02	Uniphar Seeks M&A	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	333.1	649.8	1,365	846.3	737.1	688	-	-
Enterprise Value (EV) ¹	399.4	804.7	1,532	1,058	737.1	895.6	910.1	886
P/E ratio	15.8 x	22.5 x	28.1 x	18.6 x	16.5 x	13.2 x	12 x	10.5 x
Yield	0.6%	0.65%	0.33%	0.55%	-	0.76%	0.8%	0.87%
Capitalization / Revenue	0.2 x	0.36 x	0.7 x	0.41 x	0.29 x	0.26 x	0.25 x	0.23 x
EV / Revenue	0.24 x	0.44 x	0.79 x	0.51 x	0.29 x	0.34 x	0.33 x	0.3 x
EV / EBITDA	6.82 x	12.1 x	17.7 x	10.8 x	6.36 x	7.22 x	6.85 x	6.29 x
EV / FCF	3.94 x	0.02 x	36.8 x	15.4 x	-	33.4 x	15.4 x	15.4 x
FCF Yield	25.4%	6,293%	2.72%	6.51%	-	2.99%	6.49%	6.49%
Price to Book	1.24 x	3.21 x	5.43 x	2.92 x	-	1.97 x	1.89 x	2.12 x
Nbr of stocks (in thousands)	2,73,015	2,73,015	2,73,015	2,73,015	2,73,015	2,73,015	-	-
Reference price ²	1.220	2.380	5.000	3.100	2.700	2.520	2.520	2.520
Announcement Date	27/03/20	02/03/21	01/03/22	28/02/23	27/02/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,665	1,824	1,943	2,071	2,553	2,656	2,783	2,940
EBITDA ¹	58.56	66.71	86.48	98.04	116	124	132.8	140.9
EBIT ¹	40.25	46.72	59.55	69.57	77.76	88.8	95.78	108.2
Operating Margin	2.42%	2.56%	3.06%	3.36%	3.05%	3.34%	3.44%	3.68%
Earnings before Tax (EBT) ¹	26.46	33.53	55.8	54.68	52.9	62.03	69.22	82
Net income ¹	21.03	27.83	48.08	45.59	44.82	50.63	55.8	63.3
Net margin	1.26%	1.53%	2.47%	2.2%	1.76%	1.91%	2%	2.15%
EPS ²	0.0770	0.1060	0.1780	0.1670	0.1640	0.1903	0.2094	0.2401
Free Cash Flow ¹	101.4	50,640	41.65	68.88	-	26.8	59.03	57.5
FCF margin	6.09%	2,776.54%	2.14%	3.33%	-	1.01%	2.12%	1.96%
FCF Conversion (EBITDA)	173.19%	75,907.24%	48.16%	70.25%	-	21.62%	44.44%	40.82%
FCF Conversion (Net income)	482.32%	1,81,981.53%	86.64%	151.08%	-	52.93%	105.79%	90.84%
Dividend per Share ²	0.007300	0.0154	0.0166	0.0170	-	0.0191	0.0202	0.0219
Announcement Date	27/03/20	02/03/21	01/03/22	28/02/23	27/02/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	991.8	-	-	-	1,290	1,374
EBITDA ¹	-	-	51.13	64.86	54	70
EBIT ¹	-	-	34.07	43.69	38	53
Operating Margin	-	-	-	-	2.95%	3.86%
Earnings before Tax (EBT) ¹	20.34	-	18.39	34.51	24	40
Net income ¹	16.06	-	-	29.8	20	33
Net margin	1.62%	-	-	-	1.55%	2.4%
EPS ²	0.0590	-	0.0550	0.1090	0.0720	0.1200
Dividend per Share ²	0.006100	0.0110	0.006400	-	0.007000	0.0120
Announcement Date	30/08/22	28/02/23	14/09/23	27/02/24	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	66.4	155	167	211	-	208	222	198
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.133 x	2.323 x	1.935 x	2.157 x	-	1.674 x	1.672 x	1.406 x
Free Cash Flow ¹	101	50,640	41.7	68.9	-	26.8	59	57.5
ROE (net income / shareholders' equity)	23.3%	14.5%	21.2%	18.5%	-	14.9%	14.2%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	0.9900	0.7400	0.9200	1.060	-	1.280	1.330	1.190
Cash Flow per Share ²	0.2100	0.2500	0.1900	0.3000	-	0.1800	0.2600	0.2900
Capex ¹	5.59	15.7	10.5	14	-	47.6	51.7	35
Capex / Sales	0.34%	0.86%	0.54%	0.67%	-	1.79%	1.86%	1.19%
Announcement Date	27/03/20	02/03/21	01/03/22	28/02/23	27/02/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Uniphar plc

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.52 EUR

Average target price

4.25 EUR

Spread / Average Target

+68.65%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Pharmaceuticals Wholesale

	1st Jan change	Capi.
UNIPHAR PLC	-6.67%	734M
MCKESSON CORPORATION	+17.35%	71.39B
CARDINAL HEALTH, INC.	+2.39%	25.1B
SINOPHARM GROUP CO. LTD.	+5.38%	8.59B
SHANGHAI PHARMACEUTICALS HOLDING CO., LTD	+6.69%	8.19B
HUADONG MEDICINE CO., LTD	-20.96%	7.91B
H. LUNDBECK A/S	+0.49%	4.54B
JOINTOWN PHARMACEUTICAL GROUP CO., LTD	+17.12%	4.31B
EBOS GROUP LIMITED	-3.38%	3.93B
GALENICA AG	-2.61%	3.86B

Pharmaceuticals Wholesale