MITCHELLS & BUTLERS PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 297 GBX | +1.54% |
|
+16.02% | +15.21% |
| May. 22 | Stocks in red as UK inflation hits rate cut hopes | AN |
| May. 22 | MITCHELLS & BUTLERS : Stronger-than-expected H1 performance; the management’s guidance is reassuring |  |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,635 | 577.3 | 1,408 | 684.5 | 1,342 | 1,763 | - | - |
| Enterprise Value (EV) 1 | 3,254 | 2,481 | 3,219 | 2,364 | 2,975 | 3,300 | 3,181 | 3,046 |
| P/E ratio | 11.5 x | -5.17 x | -20.6 x | 52.3 x | -323 x | 13.1 x | 11.2 x | 9.94 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.73 x | 0.39 x | 1.32 x | 0.31 x | 0.54 x | 0.68 x | 0.65 x | 0.63 x |
| EV / Revenue | 1.45 x | 1.68 x | 3.02 x | 1.07 x | 1.19 x | 1.26 x | 1.18 x | 1.09 x |
| EV / EBITDA | 7.46 x | 9.81 x | 19.2 x | 6.34 x | 8.29 x | 7.82 x | 7.07 x | 6.45 x |
| EV / FCF | 13 x | 108 x | -805 x | 19.5 x | 32.7 x | 38.2 x | 31.1 x | 25.1 x |
| FCF Yield | 7.68% | 0.93% | -0.12% | 5.12% | 3.06% | 2.62% | 3.22% | 3.99% |
| Price to Book | 0.84 x | 0.35 x | 0.67 x | 0.32 x | 0.63 x | 0.78 x | 0.73 x | 0.67 x |
| Nbr of stocks (in thousands) | 426,954 | 426,385 | 594,391 | 594,716 | 593,880 | 593,751 | - | - |
| Reference price 2 | 3.830 | 1.354 | 2.368 | 1.151 | 2.260 | 2.970 | 2.970 | 2.970 |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 2,237 | 1,475 | 1,065 | 2,208 | 2,503 | 2,609 | 2,707 | 2,789 |
| EBITDA 1 | 436 | 253 | 168 | 373 | 359 | 422 | 450.2 | 472.1 |
| EBIT 1 | 317 | 99 | 29 | 240 | 221 | 284.3 | 309.4 | 328.1 |
| Operating Margin | 14.17% | 6.71% | 2.72% | 10.87% | 8.83% | 10.9% | 11.43% | 11.76% |
| Earnings before Tax (EBT) 1 | 177 | -123 | -42 | 8 | -13 | 176.4 | 207.4 | 233 |
| Net income 1 | 143 | -112 | -65 | 13 | -4 | 131 | 151.6 | 168.8 |
| Net margin | 6.39% | -7.59% | -6.1% | 0.59% | -0.16% | 5.02% | 5.6% | 6.05% |
| EPS 2 | 0.3330 | -0.2620 | -0.1150 | 0.0220 | -0.007000 | 0.2269 | 0.2663 | 0.2989 |
| Free Cash Flow 1 | 250 | 23 | -4 | 121 | 91 | 86.3 | 102.3 | 121.5 |
| FCF margin | 11.18% | 1.56% | -0.38% | 5.48% | 3.64% | 3.31% | 3.78% | 4.36% |
| FCF Conversion (EBITDA) | 57.34% | 9.09% | - | 32.44% | 25.35% | 20.45% | 22.72% | 25.74% |
| FCF Conversion (Net income) | 174.83% | - | - | 930.77% | - | 65.85% | 67.47% | 71.96% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 |
|---|---|---|---|---|
| Net sales | 1,159 | - | 1,282 | - |
| EBITDA | - | 183 | - | - |
| EBIT 1 | 120 | 120 | 100 | 121 |
| Operating Margin | 10.35% | - | 7.8% | - |
| Earnings before Tax (EBT) | - | - | - | - |
| Net income | - | - | 32 | - |
| Net margin | - | - | 2.5% | - |
| EPS | - | - | 0.0540 | - |
| Dividend per Share | - | - | - | - |
| Announcement Date | 5/18/22 | 12/7/22 | 5/17/23 | 11/30/23 |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,619 | 1,904 | 1,811 | 1,679 | 1,633 | 1,536 | 1,418 | 1,282 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.713 x | 7.526 x | 10.78 x | 4.501 x | 4.549 x | 3.64 x | 3.149 x | 2.716 x |
| Free Cash Flow 1 | 250 | 23 | -4 | 121 | 91 | 86.3 | 102 | 121 |
| ROE (net income / shareholders' equity) | 7.7% | -6.18% | -3.44% | 5.04% | 4.49% | 6.5% | 7.05% | 7.28% |
| ROA (Net income/ Total Assets) | 2.93% | -2.24% | -1.26% | 2.11% | 1.97% | 2.87% | 3.49% | 3.96% |
| Assets 1 | 4,881 | 5,000 | 5,159 | 617.2 | -203.2 | 4,562 | 4,349 | 4,260 |
| Book Value Per Share 2 | 4.560 | 3.910 | 3.530 | 3.590 | 3.580 | 3.810 | 4.090 | 4.400 |
| Cash Flow per Share 2 | 0.9400 | 0.3000 | 0.0400 | 0.4000 | 0.4200 | 0.4400 | 0.4900 | 0.5200 |
| Capex 1 | 152 | 104 | 29 | 122 | 157 | 176 | 175 | 174 |
| Capex / Sales | 6.79% | 7.05% | 2.72% | 5.53% | 6.27% | 6.73% | 6.47% | 6.24% |
| Announcement Date | 11/20/19 | 11/26/20 | 11/25/21 | 12/7/22 | 11/30/23 | - | - | - |
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
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
11
Last Close Price
2.97
GBP
Average target price
3.21
GBP
Spread / Average Target
+8.08%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +15.21% | 2.21B | |
| -18.44% | 91.43B | |
| +3.96% | 48.95B | |
| -10.13% | 17.75B | |
| +30.12% | 13.82B | |
| -13.57% | 13.68B | |
| +80.55% | 8.98B | |
| -14.91% | 6.11B | |
| -8.91% | 4.43B | |
| -15.94% | 3.79B |
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