Delayed
LIQUIDNET SYSTEMS
|
5-day change
|
1st Jan Change
|
- GBX
|
-.--%
|
|
-.--%
|
-.--%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
73,883
|
61,906
|
62,725
|
73,164
|
51,201
|
54,024
|
-
|
-
|
Enterprise Value (EV)
1 |
116,600
|
101,357
|
99,118
|
112,445
|
85,841
|
86,605
|
84,834
|
82,833
|
P/E ratio
|
13
x
|
9.71
x
|
9.25
x
|
11.2
x
|
-3.55
x
|
7.44
x
|
6.94
x
|
6.52
x
|
Yield
|
6.28%
|
7.96%
|
7.89%
|
7.04%
|
10.3%
|
9.8%
|
10.2%
|
10.7%
|
Capitalization / Revenue
|
2.86
x
|
2.4
x
|
2.44
x
|
2.65
x
|
1.88
x
|
2
x
|
1.94
x
|
1.88
x
|
EV / Revenue
|
4.51
x
|
3.93
x
|
3.86
x
|
4.07
x
|
3.15
x
|
3.21
x
|
3.04
x
|
2.88
x
|
EV / EBITDA
|
9.59
x
|
7.71
x
|
8.35
x
|
8.51
x
|
6.49
x
|
6.67
x
|
6.35
x
|
6.07
x
|
EV / FCF
|
14
x
|
10.9
x
|
10.8
x
|
11.4
x
|
8.37
x
|
10.6
x
|
10
x
|
10
x
|
FCF Yield
|
7.15%
|
9.15%
|
9.27%
|
8.78%
|
11.9%
|
9.44%
|
9.97%
|
9.99%
|
Price to Book
|
1.16
x
|
0.99
x
|
0.96
x
|
1
x
|
0.97
x
|
1.01
x
|
0.99
x
|
0.96
x
|
Nbr of stocks (in thousands)
|
2,286,331
|
2,286,035
|
2,294,686
|
2,229,591
|
2,230,487
|
2,220,480
|
-
|
-
|
Reference price
2 |
32.32
|
27.08
|
27.34
|
32.82
|
22.96
|
24.33
|
24.33
|
24.33
|
Announcement Date
|
27/02/20
|
17/02/21
|
11/02/22
|
09/02/23
|
08/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
25,827
|
25,776
|
25,684
|
27,655
|
27,283
|
26,986
|
27,873
|
28,714
|
EBITDA
1 |
12,161
|
13,154
|
11,874
|
13,208
|
13,223
|
12,981
|
13,355
|
13,637
|
EBIT
1 |
11,130
|
11,365
|
11,150
|
12,408
|
12,465
|
12,028
|
12,393
|
12,899
|
Operating Margin
|
43.09%
|
44.09%
|
43.41%
|
44.87%
|
45.69%
|
44.57%
|
44.46%
|
44.92%
|
Earnings before Tax (EBT)
1 |
7,912
|
8,672
|
9,163
|
9,324
|
-17,061
|
10,195
|
10,947
|
11,413
|
Net income
1 |
5,704
|
6,400
|
6,801
|
6,666
|
-14,367
|
7,390
|
7,789
|
8,149
|
Net margin
|
22.09%
|
24.83%
|
26.48%
|
24.1%
|
-52.66%
|
27.39%
|
27.94%
|
28.38%
|
EPS
2 |
2.490
|
2.789
|
2.956
|
2.919
|
-6.466
|
3.271
|
3.508
|
3.733
|
Free Cash Flow
1 |
8,332
|
9,275
|
9,190
|
9,871
|
10,254
|
8,177
|
8,457
|
8,271
|
FCF margin
|
32.26%
|
35.98%
|
35.78%
|
35.69%
|
37.58%
|
30.3%
|
30.34%
|
28.81%
|
FCF Conversion (EBITDA)
|
68.51%
|
70.51%
|
77.4%
|
74.74%
|
77.55%
|
62.99%
|
63.32%
|
60.65%
|
FCF Conversion (Net income)
|
146.07%
|
144.92%
|
135.13%
|
148.08%
|
-
|
110.64%
|
108.58%
|
101.5%
|
Dividend per Share
2 |
2.030
|
2.156
|
2.156
|
2.309
|
2.355
|
2.384
|
2.479
|
2.594
|
Announcement Date
|
27/02/20
|
17/02/21
|
11/02/22
|
09/02/23
|
08/02/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019 S2
|
2020 S1
|
2020 S2
|
2021 S1
|
2021 S2
|
2022 S1
|
2022 S2
|
2023 S1
|
2023 S2
|
2024 S1
|
2024 S2
|
2025 S1
|
2025 S2
|
---|
Net sales
1 |
13,688
|
12,271
|
13,505
|
12,175
|
13,509
|
12,869
|
14,786
|
13,441
|
13,842
|
12,880
|
14,190
|
13,032
|
14,400
|
EBITDA
1 |
6,606
|
5,730
|
7,424
|
5,557
|
6,317
|
5,988
|
7,220
|
6,500
|
6,723
|
6,025
|
7,112
|
-
|
-
|
EBIT
1 |
5,921
|
5,368
|
5,997
|
5,235
|
5,915
|
5,490
|
6,918
|
6,020
|
6,445
|
5,638
|
6,729
|
-
|
-
|
Operating Margin
|
43.26%
|
43.75%
|
44.41%
|
43%
|
43.79%
|
42.66%
|
46.79%
|
44.79%
|
46.56%
|
43.77%
|
47.42%
|
-
|
-
|
Earnings before Tax (EBT)
1 |
4,047
|
4,592
|
4,080
|
4,384
|
4,779
|
-
|
6,263
|
5,303
|
-22,364
|
5,001
|
6,042
|
-
|
-
|
Net income
1 |
2,890
|
3,457
|
2,943
|
3,250
|
3,551
|
1,836
|
4,830
|
3,937
|
-18,326
|
3,813
|
4,635
|
-
|
-
|
Net margin
|
21.11%
|
28.17%
|
21.79%
|
26.69%
|
26.29%
|
14.27%
|
32.67%
|
29.29%
|
-132.39%
|
29.6%
|
32.66%
|
-
|
-
|
EPS
2 |
1.262
|
1.507
|
1.282
|
1.416
|
1.540
|
-
|
2.111
|
1.760
|
-8.226
|
1.614
|
1.884
|
1.591
|
1.769
|
Dividend per Share
2 |
1.015
|
1.034
|
1.122
|
1.065
|
1.091
|
1.084
|
1.226
|
1.122
|
1.233
|
1.168
|
1.172
|
1.193
|
1.185
|
Announcement Date
|
27/02/20
|
31/07/20
|
17/02/21
|
28/07/21
|
11/02/22
|
27/07/22
|
09/02/23
|
26/07/23
|
08/02/24
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
42,717
|
39,451
|
36,393
|
39,281
|
34,640
|
32,581
|
30,810
|
28,809
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
3.513
x
|
2.999
x
|
3.065
x
|
2.974
x
|
2.62
x
|
2.51
x
|
2.307
x
|
2.112
x
|
Free Cash Flow
1 |
8,332
|
9,275
|
9,190
|
9,871
|
10,254
|
8,177
|
8,457
|
8,271
|
ROE (net income / shareholders' equity)
|
11.5%
|
12%
|
11.8%
|
12.1%
|
13.1%
|
15.3%
|
15.7%
|
16.4%
|
ROA (Net income/ Total Assets)
|
5.16%
|
5.46%
|
5.49%
|
5.79%
|
6.17%
|
6.68%
|
6.96%
|
7.19%
|
Assets
1 |
110,476
|
117,152
|
123,786
|
115,155
|
-232,751
|
110,636
|
111,968
|
113,276
|
Book Value Per Share
2 |
28.00
|
27.40
|
28.60
|
32.70
|
23.60
|
24.10
|
24.50
|
25.20
|
Cash Flow per Share
2 |
3.930
|
4.260
|
4.230
|
4.580
|
4.810
|
4.060
|
4.330
|
3.910
|
Capex
1 |
664
|
511
|
527
|
523
|
460
|
629
|
693
|
704
|
Capex / Sales
|
2.57%
|
1.98%
|
2.05%
|
1.89%
|
1.69%
|
2.33%
|
2.49%
|
2.45%
|
Announcement Date
|
27/02/20
|
17/02/21
|
11/02/22
|
09/02/23
|
08/02/24
|
-
|
-
|
-
|
Last Close Price
24.33
GBP Average target price
31.45
GBP Spread / Average Target +29.25% Consensus |
1st Jan change
|
Capi.
|
---|
| +3.40% | 19.95B | | +7.69% | 5.5B | | +61.02% | 2.11B | | +1.02% | 1.76B | | -3.90% | 1.71B | | -19.76% | 1.33B | | 0.00% | 656M | | +29.48% | 601M | | -15.61% | 454M |
Other Tobacco
|