TATTON ASSET MANAGEMENT PLC Financials Tatton Asset Management plc London S.E.
Equities
GB00BYX1P358
Investment Management & Fund Operators
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5-day change | 1st Jan Change | ||
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| Jun. 19 | Transcript : Tatton Asset Management plc, 2024 Earnings Call, Jun 19, 2024 | |
| Jun. 18 | Tatton Asset Management raises dividend after record-breaking year | AN |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 109.6 | 201.7 | 265.1 | 268.4 | 340.8 | 407 | - | - |
| Enterprise Value (EV) 1 | 96.82 | 184.8 | 243.4 | 242 | 315.9 | 374.5 | 367.9 | 363.5 |
| P/E ratio | 13.5 x | 34 x | 29.7 x | 20.6 x | 27 x | 26.2 x | 22.8 x | 19.9 x |
| Yield | 4.9% | 2.82% | 2.78% | 3.24% | 2.82% | 2.7% | 3.06% | 3.45% |
| Capitalization / Revenue | 5.13 x | 8.64 x | 9.03 x | 8.3 x | 9.26 x | 9.6 x | 8.59 x | 7.79 x |
| EV / Revenue | 4.53 x | 7.91 x | 8.29 x | 7.48 x | 8.58 x | 8.84 x | 7.77 x | 6.96 x |
| EV / EBITDA | 10.2 x | 15.3 x | 15.8 x | 13.9 x | 16.3 x | 17.5 x | 15.1 x | 13.1 x |
| EV / FCF | 11.2 x | 21.1 x | 17.9 x | 18.7 x | 25.2 x | 21 x | 19.7 x | 16.9 x |
| FCF Yield | 8.94% | 4.74% | 5.57% | 5.34% | 3.97% | 4.77% | 5.08% | 5.93% |
| Price to Book | 6.16 x | 8.16 x | 8.54 x | 6.43 x | 7.97 x | 9.05 x | 8.15 x | 7.35 x |
| Nbr of stocks (in thousands) | 55,908 | 57,476 | 58,915 | 60,056 | 59,998 | 59,853 | - | - |
| Reference price 2 | 1.960 | 3.510 | 4.500 | 4.470 | 5.680 | 6.800 | 6.800 | 6.800 |
| Announcement Date | 6/16/20 | 6/15/21 | 6/15/22 | 6/13/23 | 6/18/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 21.37 | 23.35 | 29.36 | 32.33 | 36.81 | 42.39 | 47.37 | 52.23 |
| EBITDA 1 | 9.509 | 12.09 | 15.44 | 17.45 | 19.43 | 21.35 | 24.37 | 27.81 |
| EBIT 1 | 9.076 | 11.4 | 14.53 | 16.4 | 18.51 | 20.99 | 24.04 | 25.04 |
| Operating Margin | 42.47% | 48.82% | 49.48% | 50.74% | 50.3% | 49.52% | 50.75% | 47.93% |
| Earnings before Tax (EBT) 1 | 10.3 | 7.303 | 11.28 | 16 | 16.75 | 20.03 | 23.2 | 26.1 |
| Net income 1 | 8.363 | 6.111 | 9.242 | 13.37 | 12.99 | 15.33 | 17.77 | 20.1 |
| Net margin | 39.14% | 26.17% | 31.48% | 41.37% | 35.28% | 36.17% | 37.5% | 38.48% |
| EPS 2 | 0.1454 | 0.1031 | 0.1517 | 0.2170 | 0.2102 | 0.2595 | 0.2980 | 0.3420 |
| Free Cash Flow 1 | 8.653 | 8.754 | 13.56 | 12.91 | 12.53 | 17.85 | 18.69 | 21.55 |
| FCF margin | 40.49% | 37.49% | 46.21% | 39.94% | 34.04% | 42.11% | 39.45% | 41.26% |
| FCF Conversion (EBITDA) | 91% | 72.38% | 87.86% | 74.01% | 64.48% | 83.6% | 76.68% | 77.51% |
| FCF Conversion (Net income) | 103.47% | 143.25% | 146.78% | 96.56% | 96.49% | 116.41% | 105.17% | 107.23% |
| Dividend per Share 2 | 0.0960 | 0.0990 | 0.1250 | 0.1450 | 0.1600 | 0.1838 | 0.2078 | 0.2346 |
| Announcement Date | 6/16/20 | 6/15/21 | 6/15/22 | 6/13/23 | 6/18/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 |
|---|---|---|---|---|---|
| Net sales | 10.96 | 12.4 | 13.85 | 15.51 | - |
| EBITDA | - | 6.738 | - | 8.114 | - |
| EBIT | 5.03 | - | 6.934 | - | - |
| Operating Margin | 45.91% | - | 50.08% | - | - |
| Earnings before Tax (EBT) | - | 4.229 | - | 6.488 | - |
| Net income 1 | - | 3.451 | - | 5.344 | 5.333 |
| Net margin | - | 27.84% | - | 34.46% | - |
| EPS 2 | - | - | - | - | 0.0872 |
| Dividend per Share | 0.0350 | 0.0640 | 0.0400 | 0.0850 | - |
| Announcement Date | 11/18/20 | 6/15/21 | 11/17/21 | 6/15/22 | 11/22/22 |
1GBP in Million2GBP
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 12.8 | 16.9 | 21.7 | 26.5 | 24.8 | 32.5 | 39.1 | 43.5 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 8.65 | 8.75 | 13.6 | 12.9 | 12.5 | 17.8 | 18.7 | 21.6 |
| ROE (net income / shareholders' equity) | 44.3% | 43% | 41.6% | - | - | - | - | - |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 0.3200 | 0.4300 | 0.5300 | 0.7000 | 0.7100 | 0.7500 | 0.8300 | 0.9200 |
| Cash Flow per Share 2 | - | - | - | - | 0.4000 | 0.2800 | 0.3100 | - |
| Capex 1 | 0.29 | 0.07 | 0.07 | - | 0.66 | 0.4 | 0.5 | 0.8 |
| Capex / Sales | 1.38% | 0.29% | 0.25% | - | 1.79% | 0.94% | 1.06% | 1.53% |
| Announcement Date | 6/16/20 | 6/15/21 | 6/15/22 | 6/13/23 | 6/18/24 | - | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
6.8
GBP
Average target price
6.912
GBP
Spread / Average Target
+1.65%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +33.65% | 96.59B | |
| -1.20% | 96.12B | |
| +19.87% | 28.1B | |
| -7.45% | 17.77B | |
| +6.24% | 15.33B | |
| +8.60% | 14.74B | |
| -22.12% | 12.14B | |
| +30.08% | 10.7B | |
| +18.79% | 9.09B |
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- Financials Tatton Asset Management plc
