Lancashire Holdings Limited (LRE)

Sector:

Insurance

Index:

FTSE 250

825.50p
   
  • Change Today:
    -1.50p
  • 52 Week High: 850.00p
  • 52 Week Low: 528.00p
  • Currency: UK Pounds
  • Shares Issued: 242.51m
  • Volume: 62,842
  • Market Cap: £2,001.92m
  • RiskGrade: 214

Key Financials

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Growth Metrics 31-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Annualisation Factor 1.0 1.0 1.0 1.0 1.0
Dividend Yield 2.1% 1.5% 1.5% 1.6% 2.2%
           
Continuing Operations          
PE Ratio - Basic 5.7
5.7
7.8
7.8
6.6
6.6
6.6
6.6
3.3
3.3
PE Ratio - Diluted 6.1
6.1
8.7
8.7
7.6
7.6
7.6
7.6
3.7
3.7
PE Ratio - Adjusted 5.7 7.8 6.6 6.6 3.3
PEG - Basic n/a
n/a
n/a
n/a
1.1
0.9
n/a
n/a
n/a
n/a
PEG - Diluted n/a
n/a
n/a
n/a
0.9
0.9
n/a
n/a
n/a
n/a
PEG - Adjusted n/a n/a 1.1 n/a n/a
Return on Capital Employed n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Operating Margin 26.93%
26.93%
32.04%
32.04%
33.63%
33.63%
37.10%
37.10%
50.20%
50.20%
           
Continuing & Discontinued Operations          
PE Ratio - Basic 5.7
5.7
7.8
7.8
6.6
6.6
6.6
6.6
3.3
3.3
PE Ratio - Diluted 6.1
6.1
8.7
8.7
7.6
7.6
7.6
7.6
3.7
3.7
PE Ratio - Adjusted 5.7 7.8 6.6 6.6 3.3
PEG - Basic n/a
n/a
n/a
n/a
1.1
0.9
n/a
n/a
n/a
n/a
PEG - Diluted n/a
n/a
n/a
n/a
0.9
0.9
n/a
n/a
n/a
n/a
PEG - Adjusted n/a n/a 1.1 n/a n/a

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Gearing 31-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Net Gearing 1.70% (4.84%) (2.67%) (13.85%) (29.82%)

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Value Metrics 31-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Price/Book Value n/a n/a n/a n/a n/a
Price/Tangible Book Value n/a n/a n/a n/a n/a
Price/ Cash Flow n/a n/a n/a n/a n/a
Price/Revenue n/a n/a n/a n/a n/a
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 648.58¢ 758.08¢ 869.98¢ 858.89¢ 810.36¢
Net Cash per Share n/a n/a n/a n/a n/a

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Annualised Fundamentals 31-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Continuing Operations          
Revenue 907.60 679.70 724.30 632.30 689.10
Net Interest (23.80)
(23.80)
(8.90)
(8.90)
(14.50)
(14.50)
(16.00)
(16.00)
(6.70)
(6.70)
Profit Before Tax 226.50
226.50
218.10
218.10
236.80
236.80
218.60
218.60
339.20
339.20
           
Revenue per Share 489.12¢ 401.55¢ 454.18¢ 409.68¢ 433.93¢
Pre-Tax Profit per Share 122.06¢
122.06¢
128.85¢
128.85¢
148.49¢
148.49¢
141.64¢
141.64¢
213.59¢
213.59¢
Market Capitalisation $ (Millions) 1,050.03 1,468.12 1,252.21 1,145.36 842.87
Enterprise Value (EV) $ (Millions) 1,272.03 1,800.42 1,510.91 1,273.36 971.67
EBITDA/EV 21.22%
21.22%
12.91%
12.91%
16.31%
16.31%
18.65%
18.65%
35.87%
35.87%
Operating Margin 26.93%
26.93%
32.04%
32.04%
33.63%
33.63%
37.10%
37.10%
50.20%
50.20%
Capital Employed $ (Millions) 1,530.10 1,615.50 1,646.10 1,453.60 1,415.70
Return on Capital Employed n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Invested Equity Capital $ (Millions) 1,356.80 1,459.70 1,387.40 1,326.80 1,286.90
           
Earnings per Share - Basic 124.00¢
123.57¢
131.00¢
131.45¢
147.00¢
147.29¢
138.00¢
137.49¢
208.00¢
208.30¢
Earnings per Share - Diluted 116.00¢
115.74¢
117.00¢
116.80¢
129.00¢
129.01¢
120.00¢
119.58¢
186.00¢
186.35¢
Earnings per Share - Adjusted 124.00¢ 131.00¢ 147.00¢ 138.00¢ 208.00¢
Earnings per Share Growth - Basic -5%
-6%
-11%
-11%
6%
7%
-34%
-34%
-7%
-7%
Earnings per Share Growth - Diluted -1%
-1%
-9%
-10%
8%
8%
-36%
-36%
-9%
-9%
Earnings per Share Growth - Adjusted -5% -11% 6% -34% -7%
PE Ratio - Diluted 6.1
6.1
8.7
8.7
7.6
7.6
7.6
7.6
3.7
3.7
PEG - Diluted n/a
n/a
n/a
n/a
0.9
0.9
n/a
n/a
n/a
n/a
Tax Rate (1.41%) (1.82%) 0.83% 2.93% 2.48%
Dividend Cover 8.27
8.24
8.73
8.76
9.80
9.82
9.20
9.17
13.87
13.89
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 124.00¢
123.57¢
131.00¢
131.45¢
147.00¢
147.29¢
138.00¢
137.49¢
208.00¢
208.30¢
Earnings per Share - Diluted 116.00¢
115.74¢
117.00¢
116.80¢
129.00¢
129.01¢
120.00¢
119.58¢
186.00¢
186.35¢
Earnings per Share - Adjusted 124.00¢ 131.00¢ 147.00¢ 138.00¢ 208.00¢
Earnings per Share Growth - Basic -5%
-6%
-11%
-11%
6%
7%
-34%
-34%
-7%
-7%
Earnings per Share Growth - Diluted -1%
-1%
-9%
-10%
8%
8%
-36%
-36%
-9%
-9%
Earnings per Share Growth - Adjusted -5% -11% 6% -34% -7%
PE Ratio - Diluted 6.1
6.1
8.7
8.7
7.6
7.6
7.6
7.6
3.7
3.7
PEG - Diluted n/a
n/a
n/a
n/a
0.9
0.9
n/a
n/a
n/a
n/a
Dividend Cover 8.27
8.24
8.73
8.76
9.80
9.82
9.20
9.17
13.87
13.89
Return on Equity (ROE) 16.90%
16.90%
15.24%
15.24%
16.93%
16.93%
15.99%
15.99%
25.71%
25.71%
Operating Cash Flow per Share 114.52¢ 99.07¢ 121.21¢ 166.97¢ 169.26¢
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (46.35¢) 63.80¢ (7.71¢) (129.97¢) 50.31¢
Dividend per Share 15.00¢ 15.00¢ 15.00¢ 15.00¢ 15.00¢
Dividend per Share Growth n/a n/a n/a n/a n/a
Dividend Yield 2.1% 1.5% 1.5% 1.6% 2.2%
Shareholders Funds 1,356.80 1,459.70 1,387.40 1,326.80 1,286.90
Net Borrowings $ (Millions) 23.10 (70.70) (37.10) (183.80) (383.70)
Net Asset Value per Share (inc. Intangibles) 648.32¢ 757.66¢ 869.98¢ 858.89¢ 810.36¢

  $ (Millions) $ (Millions) $ (Millions) $ (Millions) $ (Millions)
Gearing - inc Intangibles 31-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Shareholders' Funds inc Intangibles 1,356.80 1,459.70 1,387.40 1,326.80 1,286.90
Net Borrowings $ (Millions) 23.10 (70.70) (37.10) (183.80) (383.70)
Net Gearing 1.70% (4.84%) (2.67%) (13.85%) (29.82%)
Cash & Near Cash 303.50 403.00 295.80 311.80 512.50
Cash 22.37% 27.61% 21.32% 23.50% 39.82%
Gross Borrowings 326.60 332.30 258.70 128.00 128.80
Gross Gearing 24.07% 22.76% 18.65% 9.65% 10.01%
Borrowings Under 5 years 326.60 332.30 258.70 128.00 128.80
Under 5 years 24.07% 22.76% 18.65% 9.65% 10.01%
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-Dec-14 31-Dec-13 31-Dec-12 31-Dec-11 31-Dec-10
Shareholders' Funds exc Intangibles 1,203.00 1,282.50 1,387.40 1,325.60 1,286.90
Net Borrowings $ (Millions) 23.10 (70.70) (37.10) (183.80) (383.70)
Net Gearing 1.92% (5.51%) (2.67%) (13.87%) (29.82%)
Cash & Near Cash 303.50 403.00 295.80 311.80 512.50
Cash 25.23% 31.42% 21.32% 23.52% 39.82%
Gross Borrowings 326.60 332.30 258.70 128.00 128.80
Gross Gearing 27.15% 25.91% 18.65% 9.66% 10.01%
Borrowings Under 5 years 326.60 332.30 258.70 128.00 128.80
Under 5 years 27.15% 25.91% 18.65% 9.66% 10.01%
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

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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