Telecom Plus (TEP)

Sector:

Telecom Operators

Index:

FTSE 250

1,456.00p
   
  • Change Today:
      16.00p
  • 52 Week High: 1,498.00
  • 52 Week Low: 1,010.00
  • Currency: UK Pounds
  • Shares Issued: 78.87m
  • Volume: 314,214
  • Market Cap: £1,148.30m
  • RiskGrade: 100
  • Beta: 0.71

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Annualisation Factor n/a 1.0 0.2 1.0 1.0
Dividend Yield 4.5% 4.6% 3.4% 4.6% 2.0%
           
Continuing Operations          
PE Ratio - Adjusted 22.1 20.1 25.8 16.4 36.9
PE Ratio - Diluted 30.7
29.6		 27.2
26.3		 35.9
34.2		 21.6
23.3		 48.2
35.5
PEG - Adjusted n/a 4.0 2.3 1.8 1.7
PEG - Diluted n/a
n/a		 3.4
4.4		 7.2
1.8		 2.7
n/a		 n/a
1.1
Return on Capital Employed 0.32%
0.33%		 32.79%
33.58%		 10.32%
10.70%		 84.50%
84.49%		 51.16%
65.39%
Operating Margin 5.32%
5.46%		 5.73%
5.87%		 5.51%
5.71%		 5.21%
5.21%		 4.66%
6.16%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 2,191.9 20.1 103.1 16.4 36.9
PE Ratio - Diluted 3,039.1
3,039.7		 27.2
26.3		 143.8
137.1		 21.6
23.3		 48.2
37.8
PEG - Adjusted n/a 0.1 n/a 1.8 1.7
PEG - Diluted n/a
n/a		 0.1
0.1		 n/a
n/a		 2.7
n/a		 n/a
1.6

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Net Gearing 33.56% 26.70% 16.44% 26.76% 27.54%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Price/Book Value 21.5 19.9 25.7 (40.7) (43.7)
Price/Tangible Book Value 21.3 19.7 25.6 (40.7) (43.7)
Price/ Cash Flow 23.0 24.9 43.1 13.9 (75.8)
Price/Revenue 114.59 1.11 5.90 0.95 1.97
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 59.19p 62.54p 59.11p (21.38p) (40.95p)
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Continuing Operations          
Revenue 8.69 875.77 200.97 729.18 659.72
EBITDA 0.66
0.67		 67.65
68.86		 11.07
11.48		 51.01
51.00		 35.85
45.70
Depreciation (0.19)
(0.19)		 (17.49)
(17.49)		 n/a
n/a		 (13.02)
(13.02)		 (5.09)
(5.09)
Net Interest (0.02)
(0.02)		 (2.06)
(2.06)		 (0.33)
(0.33)		 (1.93)
(1.93)		 (0.75)
(0.75)
Profit Before Tax 0.44
0.45		 48.11
49.31		 10.74
11.15		 42.06
42.05		 34.67
44.52
           
Revenue per Share 11.08p 1,119.84p 257.74p 916.27p 906.52p
Pre-Tax Profit per Share 0.56p
0.57p		 61.52p
63.06p		 13.78p
14.30p		 52.85p
52.84p		 47.63p
61.17p
Market Capitalisation £ (Millions) 1,006.30 982.05 1,198.32 697.40 1,431.45
Enterprise Value (EV) £ (Millions) 981.65 964.05 1,259.54 766.47 1,530.47
EBITDA/EV 0.07%
0.07%		 7.02%
7.14%		 0.88%
0.91%		 6.65%
6.65%		 2.34%
2.99%
Operating Margin 5.32%
5.46%		 5.73%
5.87%		 5.51%
5.71%		 5.21%
5.21%		 4.66%
6.16%
Capital Employed £ (Millions) 144.05 153.00 107.30 52.06 69.22
Return on Capital Employed 0.32%
0.33%		 32.79%
33.58%		 10.32%
10.70%		 84.50%
84.49%		 51.16%
65.39%
Invested Equity Capital £ (Millions) 213.97 223.48 225.37 196.32 194.72
           
Earnings per Share - Basic 41.50p
43.06p		 45.90p
47.46p		 42.50p
44.58p		 40.60p
37.76p		 37.70p
51.28p
Earnings per Share - Diluted 41.40p
42.91p		 45.70p
47.22p		 42.30p
44.38p		 40.20p
37.40p		 37.10p
50.43p
Earnings per Share - Adjusted 57.40p 61.80p 59.00p 53.00p 48.50p
Earnings per Share Growth - Basic -10%
-9%		 8%
6%		 5%
18%		 8%
-26%		 -3%
32%
Earnings per Share Growth - Diluted -9%
-9%		 8%
6%		 5%
19%		 8%
-26%		 -3%
32%
Earnings per Share Growth - Adjusted -7% 5% 11% 9% 22%
PE Ratio - Diluted 30.7
29.6		 27.2
26.3		 35.9
34.2		 21.6
23.3		 48.2
35.5
PEG - Diluted n/a
n/a		 3.4
4.4		 7.2
1.8		 2.7
n/a		 n/a
1.1
Tax Rate 25.18% 25.67% 23.66% 27.07% 24.00%
Dividend Cover 1.01
0.76		 1.08
0.83		 1.13
0.86		 1.32
0.94		 1.39
1.47
Interest Cover 19.45
19.96		 21.60
22.11		 29.29
30.37		 21.36
21.35		 41.55
53.07
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 0.42p
0.42p		 45.90p
47.46p		 10.62p
11.13p		 40.60p
37.76p		 37.70p
48.16p
Earnings per Share - Diluted 0.42p
0.42p		 45.70p
47.22p		 10.57p
11.09p		 40.20p
37.40p		 37.10p
47.37p
Earnings per Share - Adjusted 0.58p 61.80p 14.74p 53.00p 48.50p
Earnings per Share Growth - Basic -99%
-99%		 332%
326%		 -74%
-70%		 8%
-22%		 -3%
24%
Earnings per Share Growth - Diluted -99%
-99%		 332%
326%		 -74%
-70%		 8%
-21%		 -3%
24%
Earnings per Share Growth - Adjusted -99% 319% -72% 9% 22%
PE Ratio - Diluted 3,039.1
3,039.7		 27.2
26.3		 143.8
137.1		 21.6
23.3		 48.2
37.8
PEG - Diluted n/a
n/a		 0.1
0.1		 n/a
n/a		 2.7
n/a		 n/a
1.6
Dividend Cover 0.01
0.01		 1.08
0.83		 0.28
0.21		 1.32
0.94		 1.39
1.38
Return on Equity (ROE) 0.15%
0.15%		 16.07%
16.61%		 3.67%
3.85%		 16.45%
15.31%		 14.10%
18.00%
Operating Cash Flow per Share 55.28p 49.89p 35.23p 62.40p (23.61p)
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (0.24p) 24.86p (1.27p) (36.26p) 61.31p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 57.00p 57.00p 52.00p 40.00p 35.00p
Dividend per Share Growth n/a 9.62% 30.00% 14.29% 12.90%
Dividend Yield 4.5% 4.6% 3.4% 4.6% 2.0%
Shareholders Funds 212.82 222.38 225.37 196.32 194.72
Net Borrowings £ (Millions) 71.42 59.38 37.05 52.54 53.63
Net Asset Value per Share (inc. Intangibles) 59.76p 63.09p 59.46p (21.38p) (40.95p)

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Shareholders' Funds inc Intangibles 212.82 222.38 225.37 196.32 194.72
Net Borrowings £ (Millions) 71.42 59.38 37.05 52.54 53.63
Net Gearing 33.56% 26.70% 16.44% 26.76% 27.54%
Cash & Near Cash 25.06 43.61 24.17 16.54 45.39
Cash 11.77% 19.61% 10.72% 8.42% 23.31%
Gross Borrowings 96.47 102.99 61.21 69.07 99.02
Gross Gearing 45.33% 46.31% 27.16% 35.18% 50.85%
Borrowings Under 5 years 96.47 102.99 61.21 69.07 99.02
Under 5 years 45.33% 46.31% 27.16% 35.18% 50.85%
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-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Shareholders' Funds exc Intangibles 46.88 49.34 46.37 (17.01) (29.80)
Net Borrowings £ (Millions) 71.42 59.38 37.05 52.54 53.63
Net Gearing 152.35% 120.35% 79.90% n/a n/a
Cash & Near Cash 25.06 43.61 24.17 16.54 45.39
Cash 53.45% 88.39% 52.12% (97.19%) (152.32%)
Gross Borrowings 96.47 102.99 61.21 69.07 99.02
Gross Gearing 205.81% 208.74% 132.02% 405.98% 332.29%
Borrowings Under 5 years 96.47 102.99 61.21 69.07 99.02
Under 5 years 205.81% 208.74% 132.02% (405.98%) (332.29%)
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-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Quick Ratio 1.43 1.49 1.30 1.02 1.15
Current Ratio 1.47 1.52 1.33 1.02 1.16

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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