DERWENT LONDON PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,042 GBX | +2.51% |
|
+0.49% | -13.47% |
| Apr. 25 | Derwent London Sells Office Building for GBP77.4 Million | MT |
| Apr. 25 | Derwent London sells Clerkenwell building let to Publicis | AN |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,482 | 3,466 | 3,832 | 2,659 | 2,650 | 2,293 | - | - |
| Enterprise Value (EV) 1 | 5,464 | 4,515 | 5,083 | 3,916 | 2,650 | 3,603 | 3,606 | 3,623 |
| P/E ratio | 15.8 x | -44.6 x | 15.2 x | -9.48 x | -5.56 x | -39.2 x | 9.78 x | 10.6 x |
| Yield | 1.81% | 2.4% | 2.24% | 3.32% | - | 3.99% | 4.08% | 4.31% |
| Capitalization / Revenue | 23.4 x | 17.1 x | 19.7 x | 12.8 x | 12.5 x | 10.8 x | 9.99 x | 9.13 x |
| EV / Revenue | 28.5 x | 22.3 x | 26.2 x | 18.9 x | 12.5 x | 17 x | 15.7 x | 14.4 x |
| EV / EBITDA | 34.6 x | 26.7 x | 33.4 x | 24.6 x | 17.3 x | 23.3 x | 20.2 x | 19.7 x |
| EV / FCF | 56.4 x | 53.1 x | 41 x | 35.8 x | - | 117 x | 71.1 x | 37.9 x |
| FCF Yield | 1.77% | 1.88% | 2.44% | 2.79% | - | 0.86% | 1.41% | 2.64% |
| Price to Book | 1.01 x | 0.81 x | 0.87 x | 0.65 x | - | 0.67 x | 0.63 x | 0.6 x |
| Nbr of stocks (in thousands) | 111,773 | 111,961 | 112,209 | 112,291 | 112,291 | 112,291 | - | - |
| Reference price 2 | 40.10 | 30.96 | 34.15 | 23.68 | 23.60 | 20.42 | 20.42 | 20.42 |
| Announcement Date | 2/25/20 | 3/11/21 | 2/24/22 | 2/28/23 | 2/28/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 191.7 | 202.9 | 194.2 | 207 | 212.8 | 211.8 | 229.6 | 251.1 |
| EBITDA 1 | 157.9 | 169.1 | 152 | 159.2 | 153.5 | 154.8 | 178.1 | 184.1 |
| EBIT 1 | 155.7 | 166.9 | 151.1 | 158.2 | 152.4 | 154.9 | 167.7 | 177.5 |
| Operating Margin | 81.22% | 82.26% | 77.81% | 76.43% | 71.62% | 73.11% | 73.01% | 70.68% |
| Earnings before Tax (EBT) 1 | 280.6 | -83 | 252.5 | -279.5 | -475.9 | 33 | 243.9 | 290.7 |
| Net income 1 | 283.4 | -77.6 | 252.3 | -280.5 | -476.4 | 144.1 | 244 | 282.2 |
| Net margin | 147.84% | -38.25% | 129.92% | -135.51% | -223.87% | 68.04% | 106.26% | 112.36% |
| EPS 2 | 2.531 | -0.6934 | 2.244 | -2.498 | -4.242 | -0.5206 | 2.087 | 1.926 |
| Free Cash Flow 1 | 96.9 | 85 | 124.1 | 109.4 | - | 30.87 | 50.73 | 95.7 |
| FCF margin | 50.55% | 41.89% | 63.9% | 52.85% | - | 14.57% | 22.09% | 38.11% |
| FCF Conversion (EBITDA) | 61.37% | 50.27% | 81.64% | 68.72% | - | 19.94% | 28.49% | 51.97% |
| FCF Conversion (Net income) | 34.19% | - | 49.19% | - | - | 21.41% | 20.79% | 33.92% |
| Dividend per Share 2 | 0.7245 | 0.7445 | 0.7650 | 0.7850 | - | 0.8153 | 0.8329 | 0.8805 |
| Announcement Date | 2/25/20 | 3/11/21 | 2/24/22 | 2/28/23 | 2/28/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 119.3 | 120.4 | - | - | - | - | - | - | - | - | - |
| EBITDA | - | 75.7 | - | - | - | - | - | - | - | - | - |
| EBIT 1 | - | 75.9 | 75.2 | 79.2 | 79 | 75.3 | 77.1 | 79.07 | 77.06 | 82.16 | 85.62 |
| Operating Margin | - | 63.04% | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | -14 | 121.1 | - | - | - | - | - | - | - | - | - |
| Net income | -9.5 | - | - | - | - | - | - | - | - | - | - |
| Net margin | -7.96% | - | - | - | - | - | - | - | - | - | - |
| EPS | -0.0849 | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | 0.2200 | 0.2300 | - | 0.2400 | - | 0.2450 | - | - | - | - | - |
| Announcement Date | 8/11/20 | 8/10/21 | 2/24/22 | 8/11/22 | 2/28/23 | 8/10/23 | 2/28/24 | - | - | - | - |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 982 | 1,049 | 1,252 | 1,257 | - | 1,310 | 1,313 | 1,330 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.217 x | 6.204 x | 8.234 x | 7.897 x | - | 8.462 x | 7.371 x | 7.224 x |
| Free Cash Flow 1 | 96.9 | 85 | 124 | 109 | - | 30.9 | 50.7 | 95.7 |
| ROE (net income / shareholders' equity) | 2.67% | 2.51% | 2.8% | 2.81% | - | 3.43% | 3.74% | 3.53% |
| ROA (Net income/ Total Assets) | 2.1% | -1.39% | 2.14% | 2.1% | - | 2.32% | 2.31% | - |
| Assets 1 | 13,521 | 5,583 | 11,812 | -13,379 | - | 6,216 | 10,568 | - |
| Book Value Per Share 2 | 39.60 | 38.10 | 39.50 | 36.20 | - | 30.60 | 32.30 | 34.00 |
| Cash Flow per Share 2 | 0.8700 | 0.7600 | 1.120 | 0.9900 | - | 0.8000 | 1.110 | 1.210 |
| Capex 1 | 201 | 175 | 174 | 123 | - | 186 | 150 | 183 |
| Capex / Sales | 104.59% | 86.05% | 89.44% | 59.28% | - | 87.96% | 65.47% | 72.87% |
| Announcement Date | 2/25/20 | 3/11/21 | 2/24/22 | 2/28/23 | 2/28/24 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
20.42
GBP
Average target price
23.76
GBP
Spread / Average Target
+16.37%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -13.47% | 2.86B | |
| -6.46% | 46.25B | |
| -8.31% | 20.33B | |
| -3.56% | 13.07B | |
| +16.05% | 11.53B | |
| -4.85% | 9.68B | |
| -0.83% | 8.48B | |
| -14.19% | 8.38B | |
| +1.38% | 7.63B | |
| -18.42% | 5.53B |
- Stock Market
- Equities
- DLN Stock
- Financials Derwent London Plc
