Financials Mears Group plc

Equities

MER

GB0005630420

Business Support Services

Market Closed - London S.E. Other stock markets 11:35:27 2024-05-03 am EDT			5-day change	1st Jan Change
368 ^GBX	+1.38%		+3.66%	+18.71%

Apr. 19	Mears Group completes GBP20 million share buyback	AN
Apr. 11	Mears Group ups dividend after cracking the GBP1 billion revenue mark	AN

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	324.8	170.7	209.1	230.9	307.1	353.6	-	-
Enterprise Value (EV) ¹	375.8	227.6	371.4	130.8	307.1	254.3	229.8	180.4
P/E ratio	-4.89 x	3.83 x	15.1 x	8.34 x	9.71 x	10.6 x	12.9 x	12.3 x
Yield	1.24%	-	4.24%	5.05%	-	3.83%	3.79%	4.1%
Capitalization / Revenue	0.33 x	0.21 x	0.24 x	0.24 x	0.28 x	0.35 x	0.38 x	0.39 x
EV / Revenue	0.38 x	0.28 x	0.42 x	0.14 x	0.28 x	0.25 x	0.25 x	0.2 x
EV / EBITDA	4.26 x	4.07 x	4.37 x	1.38 x	2.59 x	2.25 x	2.15 x	1.64 x
EV / FCF	4.33 x	2.26 x	-309 x	1.29 x	-	10.2 x	7.82 x	4.94 x
FCF Yield	23.1%	44.3%	-0.32%	77.6%	-	9.79%	12.8%	20.3%
Price to Book	2.73 x	1.1 x	1.04 x	1.09 x	-	1.6 x	1.47 x	-
Nbr of stocks (in thousands)	110,490	110,837	110,927	110,993	99,076	96,075	-	-
Reference price ²	2.940	1.540	1.885	2.080	3.100	3.680	3.680	3.680
Announcement Date	5/27/20	5/12/21	3/31/22	4/28/23	4/11/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	982.6	805.8	878.4	959.6	1,089	1,007	935	901
EBITDA ¹	88.19	55.94	85.08	94.87	118.4	112.8	107	109.8
EBIT ¹	45.58	5.528	33.68	41.53	51.67	52.33	45.08	46.08
Operating Margin	4.64%	0.69%	3.83%	4.33%	4.74%	5.2%	4.82%	5.11%
Earnings before Tax (EBT) ¹	25.2	-15.22	16.33	34.94	46.92	46.67	38.23	40.2
Net income ¹	-66.39	44.52	14.12	28.31	35.2	34.77	28.47	29.7
Net margin	-6.76%	5.52%	1.61%	2.95%	3.23%	3.45%	3.04%	3.3%
EPS ²	-0.6009	0.4021	0.1249	0.2494	0.3194	0.3473	0.2843	0.2995
Free Cash Flow ¹	86.8	100.7	-1.202	101.5	-	24.9	29.4	36.55
FCF margin	8.83%	12.5%	-0.14%	10.58%	-	2.47%	3.14%	4.06%
FCF Conversion (EBITDA)	98.43%	180.08%	-	107.01%	-	22.07%	27.48%	33.3%
FCF Conversion (Net income)	-	226.25%	-	358.63%	-	71.62%	103.28%	123.06%
Dividend per Share ²	0.0365	-	0.0800	0.1050	-	0.1409	0.1394	0.1508
Announcement Date	5/27/20	5/12/21	3/31/22	4/28/23	4/11/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2023 S1
Net sales ¹	-	525.6
EBITDA	-	-
EBIT	-	-
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income	-9.65	-
Net margin	-	-
EPS	-0.0873	-
Dividend per Share	-	-
Announcement Date	8/18/20	8/3/23

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	51	56.9	162	-	-	-	-	-
Net Cash position ¹	-	-	-	100	-	99.3	124	173
Leverage (Debt/EBITDA)	0.5783 x	1.017 x	1.907 x	-	-	-	-	-
Free Cash Flow ¹	86.8	101	-1.2	102	-	24.9	29.4	36.6
ROE (net income / shareholders' equity)	18.4%	-1.85%	11.6%	13.7%	-	16.2%	12.1%	11.9%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	1.080	1.400	1.810	1.910	-	2.300	2.500	-
Cash Flow per Share ²	0.8800	0.9600	0.5000	0.9800	-	0.2800	0.3400	0.4600
Capex ¹	3.7	2.16	8.77	9.42	-	10.5	10.2	10.5
Capex / Sales	0.38%	0.27%	1%	0.98%	-	1.04%	1.09%	1.17%
Announcement Date	5/27/20	5/12/21	3/31/22	4/28/23	4/11/24	-	-	-

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

Ratings for Mears Group plc

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.68 GBP

Average target price

4.38 GBP

Spread / Average Target

+19.02%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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