Financials Fuller, Smith & Turner P.L.C.

Equities

Market Closed - London S.E. Other stock markets 11:35:29 2024-04-26 am EDT			5-day change	1st Jan Change
612 ^GBX	+1.66%		+2.68%	-6.13%

Mar. 26	EARNINGS AND TRADING: Michelmersh profit up; Journeo wins bus deal	AN
Mar. 22	Fuller Smith & Turner Extends Share Buyback Programme Up To Further 1 Mln Ordinary Shares	RE

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	638.8	373.9	463.8	366.5	282.4	358.8	-	-
Enterprise Value (EV) ¹	884	552.8	771.8	579.1	487	556.6	534.4	523.2
P/E ratio	33.4 x	30.8 x	-9.35 x	52.1 x	35.9 x	25 x	21.2 x	18.6 x
Yield	1.73%	1.14%	-	1.89%	3.16%	2.74%	2.91%	3.17%
Capitalization / Revenue	1.48 x	1.14 x	6.32 x	1.44 x	0.84 x	1.01 x	1.01 x	0.97 x
EV / Revenue	2.05 x	1.68 x	10.5 x	2.28 x	1.45 x	1.57 x	1.5 x	1.42 x
EV / EBITDA	12.1 x	10.2 x	-58.9 x	13.1 x	9.4 x	9.17 x	8.37 x	7.7 x
EV / FCF	196 x	-22 x	-21.6 x	12.8 x	-	27.4 x	21.3 x	24.1 x
FCF Yield	0.51%	-4.54%	-4.64%	7.84%	-	3.65%	4.71%	4.14%
Price to Book	1.89 x	0.88 x	1.22 x	0.82 x	-	-	-	-
Nbr of stocks (in thousands)	54,830	54,591	55,213	61,089	60,730	58,630	-	-
Reference price ²	11.65	6.850	8.400	6.000	4.650	6.120	6.120	6.120
Announcement Date	7/25/19	7/30/20	7/8/21	6/9/22	6/14/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	431.1	329.3	73.4	253.8	336.6	353.7	357	368.6
EBITDA ¹	73.2	54.4	-13.1	44.3	51.8	60.72	63.86	67.95
EBIT ¹	50.1	25.9	-40.3	18.5	25.1	34.82	37.87	41.03
Operating Margin	11.62%	7.87%	-54.9%	7.29%	7.46%	9.85%	10.61%	11.13%
Earnings before Tax (EBT) ¹	26.1	3.2	-57.8	11.5	10.3	20.35	23.6	26.75
Net income ¹	19.3	161.9	-49.6	7.1	7.9	14.55	25.5	19.35
Net margin	4.48%	49.16%	-67.57%	2.8%	2.35%	4.11%	7.14%	5.25%
EPS ²	0.3487	0.2226	-0.8984	0.1151	0.1296	0.2452	0.2883	0.3294
Free Cash Flow ¹	4.5	-25.1	-35.8	45.4	-	20.31	25.15	21.68
FCF margin	1.04%	-7.62%	-48.77%	17.89%	-	5.74%	7.04%	5.88%
FCF Conversion (EBITDA)	6.15%	-	-	102.48%	-	33.45%	39.38%	31.91%
FCF Conversion (Net income)	23.32%	-	-	639.44%	-	139.61%	98.61%	112.06%
Dividend per Share ²	0.2015	0.0780	-	0.1131	0.1468	0.1674	0.1782	0.1942
Announcement Date	7/25/19	7/30/20	7/8/21	6/9/22	6/14/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: April	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	245	179	308	213	205	198	176	164
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.35 x	3.289 x	-23.51 x	4.799 x	3.95 x	3.257 x	2.749 x	2.419 x
Free Cash Flow ¹	4.5	-25.1	-35.8	45.4	-	20.3	25.1	21.7
ROE (net income / shareholders' equity)	-	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	6.160	7.760	6.870	7.330	-	-	-	-
Cash Flow per Share ²	0.6000	0.4100	-0.3500	1.160	-	0.4700	0.5200	0.5700
Capex ¹	28.5	47.6	16.5	25.8	30.7	24.3	28.3	27.5
Capex / Sales	6.61%	14.45%	22.48%	10.17%	9.12%	6.88%	7.94%	7.46%
Announcement Date	7/25/19	7/30/20	7/8/21	6/9/22	6/14/23	-	-	-

¹GBP in Million²GBP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

B-

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

6.12 GBP

Average target price

7.42 GBP

Spread / Average Target

+21.24%

	1st Jan change	Capi.
FULLER, SMITH & TURNER P.L.C.	-6.13%	447M
STARBUCKS CORPORATION	-8.08%	99.92B
COMPASS GROUP PLC	+3.87%	47.26B
DARDEN RESTAURANTS, INC.	-4.99%	18.63B
SODEXO	-21.05%	12.31B
HAIDILAO INTERNATIONAL HOLDING LTD.	+23.66%	12.8B
CAVA GROUP, INC.	+60.91%	7.88B
ZENSHO HOLDINGS CO., LTD.	-16.84%	6.12B
JOLLIBEE FOODS CORPORATION	-4.93%	4.64B
JUBILANT FOODWORKS LIMITED	-22.60%	3.45B