Bellway (BWY)

Sector:

Household Goods

Index:

FTSE 250

2,651.00p
   
  • Change Today:
      59.00p
  • 52 Week High: 4,310.00
  • 52 Week Low: 1,879.00
  • Currency: UK Pounds
  • Shares Issued: 123.34m
  • Volume: 298,931
  • Market Cap: £3,269.75m
  • RiskGrade: 258

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Annualisation Factor 1.0 1.0 1.0 1.0 1.0
Dividend Yield 5.1% 4.9% 3.8% 5.2% 3.2%
           
Continuing Operations          
PE Ratio - Adjusted 6.8 6.9 8.6 6.7 10.6
PE Ratio - Diluted 6.8
6.8
6.9
6.9
8.6
8.6
6.4
6.7
10.4
10.5
PEG - Adjusted 2.3 0.5 0.5 0.2 0.2
PEG - Diluted 1.7
1.7
0.5
0.5
0.7
0.5
0.2
0.2
0.2
0.2
Return on Capital Employed 23.16%
23.16%
25.58%
25.57%
25.74%
25.74%
26.79%
25.88%
22.17%
22.16%
Operating Margin 21.00%
21.00%
22.07%
22.07%
22.34%
22.34%
22.73%
21.96%
20.81%
20.79%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 6.8 6.9 8.6 6.7 10.6
PE Ratio - Diluted 6.8
6.8
6.9
6.9
8.6
8.6
6.4
6.7
10.4
10.5
PEG - Adjusted 2.3 0.5 0.5 0.2 0.2
PEG - Diluted 1.7
1.7
0.5
0.5
0.7
0.5
0.2
0.2
0.2
0.2

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Net Gearing n/a n/a (0.73%) (1.42%) 2.44%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Price/Book Value 1.3 1.4 1.8 1.4 1.9
Price/Tangible Book Value 1.3 1.4 1.8 1.4 1.9
Price/ Cash Flow 12.5 14.1 25.5 15.8 100.2
Price/Revenue 1.14 1.21 1.53 1.15 1.67
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 2,374.69p 2,082.68p 1,788.68p 1,523.36p 1,288.47p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Continuing Operations          
Revenue 3,213.24 2,957.66 2,558.56 2,240.65 1,765.40
EBITDA 669.15
669.15
651.02
650.94
571.55
571.55
509.31
492.01
370.09
369.85
Depreciation 5.76
5.76
1.86
1.86
n/a
n/a
n/a
n/a
(2.78)
(2.78)
Net Interest (14.44)
(14.44)
(13.61)
(13.61)
(11.24)
(11.24)
(11.14)
(11.14)
(13.08)
(13.08)
Profit Before Tax 662.59
662.60
641.06
640.99
560.72
560.72
497.87
480.56
354.19
353.94
           
Revenue per Share 2,612.12p 2,408.93p 2,088.42p 1,828.23p 1,443.32p
Pre-Tax Profit per Share 538.64p
538.64p
522.12p
522.06p
457.69p
457.69p
406.23p
392.11p
289.57p
289.37p
Market Capitalisation £ (Millions) 3,658.08 3,592.81 3,917.26 2,571.50 2,953.57
Enterprise Value (EV) £ (Millions) 3,658.08 3,592.81 3,947.26 2,604.00 3,033.57
EBITDA/EV 18.29%
18.29%
18.12%
18.12%
14.48%
14.48%
19.56%
18.89%
12.20%
12.19%
Operating Margin 21.00%
21.00%
22.07%
22.07%
22.34%
22.34%
22.73%
21.96%
20.81%
20.79%
Capital Employed £ (Millions) 2,923.37 2,559.64 2,222.03 1,899.81 1,656.33
Return on Capital Employed 23.16%
23.16%
25.58%
25.57%
25.74%
25.74%
26.79%
25.88%
22.17%
22.16%
Invested Equity Capital £ (Millions) 2,923.37 2,559.64 2,192.10 1,867.39 1,576.31
           
Earnings per Share - Basic 437.80p
437.81p
423.40p
423.39p
370.60p
370.63p
328.70p
314.62p
231.50p
231.29p
Earnings per Share - Diluted 436.40p
436.39p
421.60p
421.57p
369.00p
369.01p
328.00p
313.87p
230.80p
230.57p
Earnings per Share - Adjusted 437.80p 423.40p 370.60p 314.60p 227.00p
Earnings per Share Growth - Basic 3%
3%
14%
14%
13%
18%
42%
36%
48%
47%
Earnings per Share Growth - Diluted 4%
4%
14%
14%
12%
18%
42%
36%
48%
48%
Earnings per Share Growth - Adjusted 3% 14% 18% 39% 45%
PE Ratio - Diluted 6.8
6.8
6.9
6.9
8.6
8.6
6.4
6.7
10.4
10.5
PEG - Diluted 1.7
1.7
0.5
0.5
0.7
0.5
0.2
0.2
0.2
0.2
Tax Rate 18.78% 18.95% 19.04% 19.06% 20.05%
Dividend Cover 2.91
2.91
2.96
2.96
3.04
3.04
2.91
2.91
2.95
3.00
Interest Cover 45.13
45.13
45.95
45.95
45.89
45.89
41.39
39.99
26.82
26.80
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 437.80p
437.81p
423.40p
423.39p
370.60p
370.62p
328.70p
314.62p
231.50p
231.29p
Earnings per Share - Diluted 436.40p
436.39p
421.60p
421.57p
369.00p
369.01p
328.00p
313.88p
230.80p
230.57p
Earnings per Share - Adjusted 437.80p 423.40p 370.60p 314.60p 227.00p
Earnings per Share Growth - Basic 3%
3%
14%
14%
13%
18%
42%
36%
48%
47%
Earnings per Share Growth - Diluted 4%
4%
14%
14%
12%
18%
42%
36%
48%
48%
Earnings per Share Growth - Adjusted 3% 14% 18% 39% 45%
PE Ratio - Diluted 6.8
6.8
6.9
6.9
8.6
8.6
6.4
6.7
10.4
10.5
PEG - Diluted 1.7
1.7
0.5
0.5
0.7
0.5
0.2
0.2
0.2
0.2
Dividend Cover 2.91
2.91
2.96
2.96
3.04
3.04
2.91
2.91
2.95
3.00
Return on Equity (ROE) 18.42%
18.42%
20.31%
20.31%
20.71%
20.71%
21.58%
20.65%
17.96%
17.95%
Operating Cash Flow per Share 237.31p 206.87p 124.98p 132.75p 24.07p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share 83.12p 43.19p (10.61p) 14.26p 6.45p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 150.40p 143.00p 122.00p 108.00p 77.00p
Dividend per Share Growth 5.17% 17.21% 12.96% 40.26% 48.08%
Dividend Yield 5.1% 4.9% 3.8% 5.2% 3.2%
Shareholders Funds 2,921.17 2,557.10 2,191.41 1,867.08 1,575.98
Net Borrowings £ (Millions) (201.24) (98.99) (15.97) (26.47) 38.51
Net Asset Value per Share (inc. Intangibles) 2,374.69p 2,082.68p 1,788.74p 1,523.42p 1,288.46p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Shareholders' Funds inc Intangibles 2,921.17 2,557.10 2,191.41 1,867.08 1,575.98
Net Borrowings £ (Millions) (201.24) (98.99) (15.97) (26.47) 38.51
Net Gearing n/a n/a (0.73%) (1.42%) 2.44%
Cash & Near Cash 201.24 98.99 45.97 58.97 41.49
Cash 6.89% 3.87% 2.10% 3.16% 2.63%
Gross Borrowings n/a n/a 30.00 32.50 80.00
Gross Gearing n/a n/a 1.37% 1.74% 5.08%
Borrowings Under 5 years n/a n/a 30.00 32.50 80.00
Under 5 years n/a n/a 1.37% 1.74% 5.08%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Shareholders' Funds exc Intangibles 2,921.17 2,557.10 2,191.41 1,867.08 1,575.98
Net Borrowings £ (Millions) (201.24) (98.99) (15.97) (26.47) 38.51
Net Gearing n/a n/a (0.73%) (1.42%) 2.44%
Cash & Near Cash 201.24 98.99 45.97 58.97 41.49
Cash 6.89% 3.87% 2.10% 3.16% 2.63%
Gross Borrowings n/a n/a 30.00 32.50 80.00
Gross Gearing n/a n/a 1.37% 1.74% 5.08%
Borrowings Under 5 years n/a n/a 30.00 32.50 80.00
Under 5 years n/a n/a 1.37% 1.74% 5.08%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 31-Jul-19 31-Jul-18 31-Jul-17 31-Jul-16 31-Jul-15
Quick Ratio 0.38 0.24 0.16 0.18 0.16
Current Ratio 4.38 3.86 3.70 3.55 3.43

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

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