WH SMITH PLC |
Delayed
Other stock markets
|
5-day change | 1st Jan Change | ||
| 14.8 USD | -2.31% |
|
-.--% | -5.31% |
| 05/06 | European blue-chips up ahead of likely rate cuts | AN |
| 05/06 | European shares rebound on soft US jobs data, ECB decision in focus | RE |
Valuation
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 2,106 | 1,537 | 2,133 | 1,867 | 1,911 | 1,535 | - | - |
| Enterprise Value (EV) 1 | 2,272 | 1,829 | 2,888 | 2,736 | 2,806 | 2,443 | 2,432 | 2,403 |
| P/E ratio | 20.1 x | -5.91 x | -26.1 x | 40.2 x | 24.5 x | 14.1 x | 12.1 x | 11.1 x |
| Yield | 2.97% | - | - | 0.64% | 1.97% | 2.88% | 3.32% | 3.68% |
| Capitalization / Revenue | 1.51 x | 1.5 x | 2.41 x | 1.33 x | 1.07 x | 0.79 x | 0.74 x | 0.7 x |
| EV / Revenue | 1.63 x | 1.79 x | 3.26 x | 1.95 x | 1.57 x | 1.26 x | 1.18 x | 1.1 x |
| EV / EBITDA | 10.9 x | 261 x | 126 x | 16.4 x | 11.8 x | 6.8 x | 6.67 x | 6.03 x |
| EV / FCF | 20.8 x | -44.6 x | 206 x | 342 x | 200 x | 47.4 x | 29.2 x | 24.2 x |
| FCF Yield | 4.8% | -2.24% | 0.48% | 0.29% | 0.5% | 2.11% | 3.42% | 4.13% |
| Price to Book | 9.01 x | 6.36 x | 12.4 x | 6.4 x | 6.11 x | 3.92 x | 3.19 x | 2.66 x |
| Nbr of stocks (in thousands) | 1,07,583 | 1,30,550 | 1,30,705 | 1,30,606 | 1,30,289 | 1,29,881 | - | - |
| Reference price 2 | 19.58 | 11.77 | 16.32 | 14.30 | 14.67 | 11.82 | 11.82 | 11.82 |
| Announcement Date | 17/10/19 | 12/11/20 | 11/11/21 | 10/11/22 | 09/11/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,397 | 1,021 | 886 | 1,400 | 1,793 | 1,937 | 2,069 | 2,188 |
| EBITDA 1 | 209 | 7 | 23 | 167 | 238 | 359.4 | 364.7 | 398.8 |
| EBIT 1 | 160 | -48 | -27 | 117 | 182 | 196.6 | 218.6 | 237.2 |
| Operating Margin | 11.45% | -4.7% | -3.05% | 8.36% | 10.15% | 10.15% | 10.57% | 10.84% |
| Earnings before Tax (EBT) 1 | 135 | -280 | -116 | 63 | 110 | 158.1 | 185.1 | 202.1 |
| Net income 1 | 108 | -239 | -82 | 47 | 79 | 108.5 | 127.8 | 137.8 |
| Net margin | 7.73% | -23.41% | -9.26% | 3.36% | 4.41% | 5.6% | 6.18% | 6.3% |
| EPS 2 | 0.9720 | -1.992 | -0.6260 | 0.3560 | 0.5980 | 0.8358 | 0.9806 | 1.061 |
| Free Cash Flow 1 | 109 | -41 | 14 | 8 | 14 | 51.55 | 83.15 | 99.18 |
| FCF margin | 7.8% | -4.02% | 1.58% | 0.57% | 0.78% | 2.66% | 4.02% | 4.53% |
| FCF Conversion (EBITDA) | 52.15% | - | 60.87% | 4.79% | 5.88% | 14.34% | 22.8% | 24.87% |
| FCF Conversion (Net income) | 100.93% | - | - | 17.02% | 17.72% | 47.51% | 65.07% | 71.98% |
| Dividend per Share 2 | 0.5820 | - | - | 0.0910 | 0.2890 | 0.3408 | 0.3927 | 0.4350 |
| Announcement Date | 17/10/19 | 12/11/20 | 11/11/21 | 10/11/22 | 09/11/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: August | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 747 | 274 | 420 | 466 | 608 | 792 | 859 | 934 | 926 | 989.3 | 986.7 | 1,059 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 88 | -136 | -28 | 1 | 34 | 83 | 68 | - | - | - | - | - |
| Operating Margin | 11.78% | -49.64% | -6.67% | 0.21% | 5.59% | 10.48% | 7.92% | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | -78 | 14 | - | 45 | - | - | - | - | - |
| Net income | - | - | - | - | 9 | - | 32 | - | - | - | - | - |
| Net margin | - | - | - | - | 1.48% | - | 3.73% | - | - | - | - | - |
| EPS | - | - | - | -0.3590 | 0.0690 | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | 0.0910 | - | - | - | - | - | - |
| Announcement Date | 14/05/20 | 12/11/20 | 28/04/21 | 11/11/21 | 27/04/22 | 10/11/22 | 20/04/23 | 09/11/23 | 25/04/24 | - | - | - |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: August | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 166 | 292 | 755 | 869 | 895 | 908 | 896 | 868 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.7943 x | 41.71 x | 32.83 x | 5.204 x | 3.761 x | 2.526 x | 2.458 x | 2.176 x |
| Free Cash Flow 1 | 109 | -41 | 14 | 8 | 14 | 51.6 | 83.2 | 99.2 |
| ROE (net income / shareholders' equity) | 56.6% | -22.8% | -41.5% | 26.9% | 25.8% | 30.7% | 28.6% | 26.1% |
| ROA (Net income/ Total Assets) | 19.9% | -4.74% | -5.86% | 4.14% | 4.73% | 6.56% | 6.79% | 6.97% |
| Assets 1 | 541.7 | 5,040 | 1,399 | 1,135 | 1,671 | 1,655 | 1,883 | 1,975 |
| Book Value Per Share 2 | 2.170 | 1.850 | 1.320 | 2.230 | 2.400 | 3.010 | 3.700 | 4.450 |
| Cash Flow per Share 2 | 1.370 | 0.0100 | 0.7600 | 1.420 | 1.900 | 1.920 | 2.080 | 2.040 |
| Capex 1 | 59 | 79 | 37 | 83 | 122 | 140 | 131 | 133 |
| Capex / Sales | 4.22% | 7.74% | 4.18% | 5.93% | 6.8% | 7.24% | 6.35% | 6.08% |
| Announcement Date | 17/10/19 | 12/11/20 | 11/11/21 | 10/11/22 | 09/11/23 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
11.82
GBP
Average target price
16.29
GBP
Spread / Average Target
+37.80%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +38.16% | 197M | |
| +62.58% | 74.49M |
- Stock Market
- Equities
- SMWH Stock
- WHTPF Stock
- Financials WH Smith PLC
