SPIRENT COMMUNICATIONS PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 194.7 GBX | -0.15% |
|
+0.88% | +57.91% |
| Apr. 17 | Spirent Helps European Fintech Platform Organization Boost Cyber Defenses | CI |
| Apr. 17 | Spirent Communications Directors Propose Adjournment to Meetings for Viavi's Buyout Bid | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,536 | 1,609 | 1,680 | 1,579 | 701.9 | 1,114 | - | - |
| Enterprise Value (EV) 1 | 1,380 | 1,437 | 1,547 | 1,409 | 616.3 | 1,026 | 973.7 | 949.8 |
| P/E ratio | 25.5 x | 26.7 x | 25 x | 19.1 x | 36.8 x | 34.3 x | 30.1 x | - |
| Yield | 1.82% | 1.64% | 1.87% | 2.35% | 1.77% | 2.26% | 2.56% | 2.16% |
| Capitalization / Revenue | 3.91 x | 4.28 x | 3.84 x | 3.13 x | 1.88 x | 2.9 x | 2.74 x | 2.57 x |
| EV / Revenue | 3.51 x | 3.82 x | 3.54 x | 2.79 x | 1.65 x | 2.67 x | 2.39 x | 2.19 x |
| EV / EBITDA | 16.4 x | 16.1 x | 14.7 x | 11.5 x | 12.5 x | 17.8 x | 15.1 x | - |
| EV / FCF | 16.2 x | 18.1 x | 21.9 x | 16.8 x | 32.8 x | 29.6 x | 26.1 x | 15.6 x |
| FCF Yield | 6.17% | 5.54% | 4.57% | 5.95% | 3.05% | 3.38% | 3.83% | 6.43% |
| Price to Book | 4.48 x | 5.08 x | 4.92 x | 4.24 x | 2.4 x | 5.15 x | 5.71 x | - |
| Nbr of stocks (in thousands) | 610,642 | 609,642 | 608,342 | 606,742 | 569,246 | 571,990 | - | - |
| Reference price 2 | 2.515 | 2.640 | 2.762 | 2.602 | 1.233 | 1.947 | 1.947 | 1.947 |
| Announcement Date | 3/5/20 | 3/11/21 | 3/10/22 | 3/7/23 | 3/5/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 393.3 | 376.1 | 437.1 | 504.9 | 373.5 | 383.7 | 406.7 | 433.2 |
| EBITDA 1 | 84.03 | 89.34 | 105.3 | 122.8 | 49.3 | 57.67 | 64.65 | - |
| EBIT 1 | 72.55 | 74.51 | 89.93 | 107.6 | 35.6 | 42.03 | 51.06 | 67.72 |
| Operating Margin | 18.45% | 19.81% | 20.57% | 21.32% | 9.53% | 10.95% | 12.56% | 15.63% |
| Earnings before Tax (EBT) 1 | 69.97 | 68.97 | 78.62 | 95.25 | 18.04 | 37.1 | 47.74 | 61.26 |
| Net income 1 | 60.91 | 60.76 | 67.92 | 83.03 | 19.85 | 30.98 | 38.12 | 51.78 |
| Net margin | 15.49% | 16.16% | 15.54% | 16.44% | 5.31% | 8.07% | 9.37% | 11.95% |
| EPS 2 | 0.0986 | 0.0987 | 0.1103 | 0.1360 | 0.0336 | 0.0567 | 0.0646 | - |
| Free Cash Flow 1 | 85.18 | 79.59 | 70.67 | 83.82 | 18.77 | 34.66 | 37.32 | 61.03 |
| FCF margin | 21.66% | 21.16% | 16.17% | 16.6% | 5.03% | 9.03% | 9.18% | 14.09% |
| FCF Conversion (EBITDA) | 101.38% | 89.08% | 67.09% | 68.23% | 38.07% | 60.1% | 57.72% | - |
| FCF Conversion (Net income) | 139.85% | 130.99% | 104.04% | 100.94% | 94.58% | 111.87% | 97.89% | 117.84% |
| Dividend per Share 2 | 0.0459 | 0.0432 | 0.0515 | 0.0611 | 0.0219 | 0.0439 | 0.0498 | 0.0420 |
| Announcement Date | 3/5/20 | 3/11/21 | 3/10/22 | 3/7/23 | 3/5/24 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2019 S2 | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 223.5 | 177.8 | 207.8 | 183.5 | 243.5 | 230.7 | 272.1 | 175.7 |
| EBITDA 1 | 62 | 34.84 | 53.42 | 36.61 | 66.71 | 47.2 | - | 15.3 |
| EBIT 1 | 56.38 | 30.05 | 46.07 | 32.15 | 56.01 | 40.36 | 66.91 | 9.103 |
| Operating Margin | 25.23% | 16.9% | 22.17% | 17.52% | 23% | 17.49% | 24.59% | 5.18% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - |
| Net income | - | - | 37.58 | - | - | - | - | - |
| Net margin | - | - | 18.08% | - | - | - | - | - |
| EPS | 0.0776 | 0.0398 | 0.0610 | 0.0443 | 0.0636 | 0.0465 | 0.0890 | - |
| Dividend per Share | - | 0.0165 | - | - | - | - | - | - |
| Announcement Date | 3/5/20 | 8/6/20 | 3/11/21 | 8/5/21 | 3/10/22 | 8/4/22 | 3/7/23 | 8/2/23 |
1GBP in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 156 | 173 | 133 | 169 | 85.6 | 87.8 | 140 | 164 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 85.2 | 79.6 | 70.7 | 83.8 | 18.8 | 34.7 | 37.3 | 61 |
| ROE (net income / shareholders' equity) | 20.6% | 20% | 20% | 21.9% | 10.5% | 18.8% | 23.5% | - |
| ROA (Net income/ Total Assets) | 14% | 13.5% | 13.3% | 14.3% | - | - | - | - |
| Assets 1 | 436.3 | 451.6 | 510.6 | 580.4 | - | - | - | - |
| Book Value Per Share 2 | 0.5600 | 0.5200 | 0.5600 | 0.6100 | 0.5100 | 0.3800 | 0.3400 | - |
| Cash Flow per Share | 0.1600 | 0.1400 | 0.1300 | 0.1600 | - | - | - | - |
| Capex 1 | 11 | 7.16 | 7.78 | 6.78 | 5.15 | 5.7 | 7.75 | 5.02 |
| Capex / Sales | 2.79% | 1.9% | 1.78% | 1.34% | 1.38% | 1.48% | 1.91% | 1.16% |
| Announcement Date | 3/5/20 | 3/11/21 | 3/10/22 | 3/7/23 | 3/5/24 | - | - | - |
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
3
Last Close Price
1.947
GBP
Average target price
2.195
GBP
Spread / Average Target
+12.74%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +57.91% | 1.39B | |
| -5.27% | 194B | |
| +12.39% | 82.95B | |
| +61.44% | 66.91B | |
| +10.66% | 57.73B | |
| +11.60% | 27.55B | |
| +12.37% | 20.23B | |
| +63.72% | 20.06B | |
| +8.53% | 17.63B | |
| +17.74% | 11.26B |
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- Financials Spirent Communications plc
