Cash flow Pearson plc

Equities

PSON

GB0006776081

Consumer Publishing

Real-time Estimate Cboe Europe Other stock markets 10:52:15 20/09/2024 BST			5-day change	1st Jan Change
1,028.00 ^GBX	-0.68%		-3.25%	+6.62%

09-18	Pearson Expands College and Early Career Programming to More Than Half of Connections Academy Schools in the Country	CI
09-06	Pearson Unit Prices GBP350 Million Guaranteed Notes Issuance	MT

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Published financial data: PEARSON PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	3.87B	3.4B	3.43B	3.84B	3.67B
Total Revenues	3.87B	3.4B	3.43B	3.84B	3.67B
Cost of Goods Sold, Total	1.86B	1.77B	1.75B	2.05B	1.84B
Gross Profit	2.01B	1.63B	1.68B	1.8B	1.84B
Selling General & Admin Expenses, Total	1.69B	1.44B	1.38B	1.44B	1.34B
Stock-Based Compensation (IS)	-	-	-	-	3M
Other Operating Expenses	-54M	-51M	-41M	-48M	-40M
Other Operating Expenses, Total	1.64B	1.39B	1.34B	1.39B	1.3B
Operating Income	375M	240M	341M	404M	535M
Interest Expense, Total	-67M	-79M	-68M	-69M	-61M
Interest And Investment Income	26M	18M	11M	58M	20M
Net Interest Expenses	-41M	-61M	-57M	-11M	-41M
Income (Loss) On Equity Invest.	54M	5M	1M	1M	1M
Currency Exchange Gains (Loss)	-5M	-6M	1M	1M	3M
Other Non Operating Income (Expenses)	-10M	-22M	20M	25M	-6M
EBT, Excl. Unusual Items	373M	156M	306M	420M	492M
Restructuring Charges	-157M	-	-214M	-150M	-
Merger & Related Restructuring Charges	-	-	-2M	-20M	-12M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	180M	-	28M	13M
Gain (Loss) On Sale Of Assets	16M	26M	67M	37M	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	-8M	-	8M	-
EBT, Incl. Unusual Items	232M	354M	157M	323M	493M
Income Tax Expense	-34M	44M	-3M	79M	113M
Earnings From Continuing Operations	266M	310M	160M	244M	380M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	266M	310M	160M	244M	380M
Minority Interest	-2M	-	-1M	-2M	-2M
Net Income - (IS)	264M	310M	159M	242M	378M
Net Income to Common Incl Extra Items	264M	310M	159M	242M	378M
Net Income to Common Excl. Extra Items	264M	310M	159M	242M	378M
Per Share Items
Net EPS - Basic	0.34	0.41	0.21	0.33	0.53
Basic EPS - Continuing Operations	0.34	0.41	0.21	0.33	0.53
Basic Weighted Average Shares Outstanding	777M	755M	754M	738M	712M
Net EPS - Diluted	0.34	0.41	0.21	0.33	0.53
Diluted EPS - Continuing Operations	0.34	0.41	0.21	0.33	0.53
Diluted Weighted Average Shares Outstanding	778M	755M	759M	742M	717M
Normalized Basic EPS	0.3	0.13	0.25	0.35	0.43
Normalized Diluted EPS	0.3	0.13	0.25	0.35	0.43
Dividend Per Share	0.2	0.2	0.2	0.22	0.23
Payout Ratio	55.68	47.1	93.71	64.46	40.74
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	520M	365M	437M	497M	630M
EBITA	461M	308M	391M	458M	581M
EBIT	375M	240M	341M	404M	535M
EBITDAR	522M	366M	-	-	-
Effective Tax Rate - (Ratio)	-14.66	12.43	-1.91	24.46	22.92
Total Current Taxes	30M	14M	108M	109M	85M
Total Deferred Taxes	-64M	30M	-111M	-30M	28M
Normalized Net Income	231M	97.5M	190M	260M	306M
Interest on Long-Term Debt	45M	41M	27M	25M	23M
Non-Cash Pension Expense	-11M	-2M	1M	0	-18M
Supplemental Operating Expense Items
Advertising Expense	254M	233M	239M	268M	-
Selling and Marketing Expenses	73M	59M	62M	61M	47M
General and Administrative Expenses	999M	816M	802M	823M	767M
Research And Development Expense From Footnotes	-	-	-	303M	284M
Net Rental Expense, Total	2M	1M	-	-	-
Imputed Operating Lease Interest Expense	864K	371K	-	-	-
Imputed Operating Lease Depreciation	1.14M	629K	-	-	-
Stock-Based Comp., Other (Total)	25M	29M	28M	35M	40M
Total Stock-Based Compensation	25M	29M	28M	35M	40M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	437M	1.1B	937M	558M	312M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	15M	-	-	-	-
Total Cash And Short Term Investments	452M	1.1B	937M	558M	312M
Accounts Receivable, Total	939M	825M	882M	856M	725M
Other Receivables	194M	102M	201M	91M	106M
Total Receivables	1.13B	927M	1.08B	947M	831M
Inventory	169M	129M	98M	105M	91M
Prepaid Expenses	138M	189M	198M	200M	233M
Other Current Assets, Total	1.28B	998M	905M	1.01B	966M
Total Current Assets	3.17B	3.34B	3.22B	2.82B	2.43B
Gross Property Plant And Equipment	1.14B	1.08B	975M	816M	753M
Accumulated Depreciation	-526M	-561M	-609M	-566M	-536M
Net Property Plant And Equipment	618M	515M	366M	250M	217M
Long-term Investments	129M	144M	137M	158M	165M
Goodwill	2.14B	2.09B	2.14B	2.48B	2.43B
Other Intangibles, Total	761M	648M	624M	697M	657M
Accounts Receivable Long-Term	191M	121M	102M	107M	85M
Deferred Tax Assets Long-Term	59M	32M	57M	57M	35M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	580M	557M	691M	757M	701M
Total Assets	7.65B	7.45B	7.34B	7.32B	6.73B
Liabilities
Accounts Payable, Total	358M	340M	351M	348M	317M
Accrued Expenses, Total	336M	337M	371M	513M	632M
Short-term Borrowings	-	-	-	15M	3M
Current Portion of Long-Term Debt	18M	193M	91M	11M	5M
Current Portion of Leases	89M	73M	68M	71M	64M
Current Income Taxes Payable	55M	84M	125M	43M	32M
Unearned Revenue Current, Total	305M	304M	330M	340M	295M
Other Current Liabilities	331M	314M	244M	138M	56M
Total Current Liabilities	1.49B	1.64B	1.58B	1.48B	1.4B
Long-Term Debt	847M	827M	710M	664M	649M
Long-Term Leases	749M	610M	565M	534M	483M
Unearned Revenue Non Current	55M	52M	56M	60M	73M
Pension & Other Post Retirement Benefits	92M	85M	66M	61M	44M
Deferred Tax Liability Non Current	48M	62M	40M	37M	46M
Other Non Current Liabilities	44M	36M	46M	74M	40M
Total Liabilities	3.33B	3.32B	3.06B	2.91B	2.74B
Common Stock, Total	195M	188M	189M	179M	174M
Additional Paid In Capital	2.61B	2.62B	2.63B	2.63B	2.64B
Retained Earnings	911M	865M	1.03B	881M	745M
Treasury Stock	-24M	-7M	-12M	-15M	-19M
Comprehensive Income and Other	617M	459M	437M	724M	432M
Total Common Equity	4.31B	4.12B	4.27B	4.4B	3.97B
Minority Interest	10M	9M	10M	13M	14M
Total Equity	4.32B	4.13B	4.28B	4.42B	3.99B
Total Liabilities And Equity	7.65B	7.45B	7.34B	7.32B	6.73B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	779M	752M	755M	714M	695M
ECS Total Common Shares Outstanding	779M	752M	755M	714M	695M
Book Value / Share	5.54	5.48	5.65	6.17	5.72
Tangible Book Value	1.41B	1.38B	1.5B	1.22B	883M
Tangible Book Value Per Share	1.81	1.84	1.99	1.72	1.27
Total Debt	1.7B	1.7B	1.43B	1.3B	1.2B
Net Debt	1.25B	606M	497M	737M	892M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-392M	-373M	-514M	-555M	-484M
Debt Equivalent Oper. Leases	16M	8M	-	-	-
Minority Interest, Total (Incl. Fin. Div)	10M	9M	10M	13M	14M
Equity Method Investments, Total	7M	6M	24M	25M	22M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	5M	5M	7M	5M	4M
Inventories - Work In Process, Total	2M	2M	2M	2M	1M
Inventories - Finished Goods, Total	155M	116M	84M	93M	81M
Inventories - Others	7M	6M	5M	5M	5M
Land - (BS)	300M	296M	226M	178M	165M
Machinery, Total	325M	308M	250M	257M	237M
Full Time Employees	22.5K	20K	21.35K	20.17K	17.61K
Accumulated Allowance for Doubtful Accounts (Supple)	92M	74M	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	264M	310M	159M	242M	378M
Depreciation & Amortization - CF	123M	125M	95M	90M	88M
Amortization of Goodwill and Intangible Assets - (CF)	86M	68M	50M	54M	46M
Depreciation & Amortization, Total	209M	193M	145M	144M	134M
Amortization of Deferred Charges, Total - (CF)	115M	112M	113M	428M	407M
(Gain) Loss From Sale Of Asset	-13M	2M	-59M	-24M	13M
(Gain) Loss on Sale of Investments - (CF)	-	-184M	-	-	-
Asset Writedown & Restructuring Costs	65M	-14M	156M	46M	2M
(Income) Loss On Equity Investments - (CF)	-54M	-5M	-1M	-	-
Stock-Based Compensation (CF)	25M	29M	28M	35M	40M
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-178M	-24M	-223M	-475M	-353M
Change In Accounts Receivable	59M	-1M	-71M	33M	-24M
Change In Inventories	-20M	35M	22M	-34M	9M
Change In Accounts Payable	-157M	-26M	37M	-84M	-20M
Change in Other Net Operating Assets	54M	-38M	20M	50M	-61M
Cash from Operations	369M	389M	326M	361M	525M
Capital Expenditure	-55M	-53M	-64M	-57M	-30M
Sale of Property, Plant, and Equipment	1M	-	-	14M	5M
Cash Acquisitions	-45M	-6M	-55M	-228M	-171M
Divestitures	-101M	100M	83M	333M	-38M
Sale (Purchase) of Intangible assets	-138M	-81M	-112M	-90M	-96M
Investment in Marketable and Equity Securities, Total	-47M	525M	34M	0	-6M
Net (Increase) Decrease in Loans Originated / Sold - Investing	26M	41M	21M	18M	15M
Other Investing Activities, Total	34M	65M	13M	23M	20M
Cash from Investing	-325M	591M	-80M	13M	-301M
Long-Term Debt Issued, Total	230M	346M	-	-	285M
Total Debt Issued	230M	346M	-	-	285M
Long-Term Debt Repaid, Total	-139M	-322M	-255M	-264M	-369M
Total Debt Repaid	-139M	-322M	-255M	-264M	-369M
Issuance of Common Stock	7M	6M	6M	7M	9M
Repurchase of Common Stock	-52M	-182M	-16M	-390M	-221M
Common Dividends Paid	-147M	-146M	-149M	-156M	-154M
Common & Preferred Stock Dividends Paid	-147M	-146M	-149M	-156M	-154M
Other Financing Activities, Total	-1M	-1M	-	-1M	-
Cash from Financing	-102M	-299M	-414M	-804M	-450M
Foreign Exchange Rate Adjustments	-33M	-2M	-8M	36M	-8M
Net Change in Cash	-91M	679M	-176M	-394M	-234M
Supplemental Items
Cash Interest Paid	81M	63M	67M	57M	60M
Cash Income Tax Paid (Refund)	30M	-2M	177M	109M	97M
Levered Free Cash Flow	-244M	773M	282M	654M	840M
Unlevered Free Cash Flow	-203M	822M	324M	698M	878M
Change In Net Working Capital	593M	-472M	-1M	15M	-89M
Net Debt Issued / Repaid	91M	24M	-255M	-264M	-84M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.01	1.99	2.88	3.44	4.76
Return on Total Capital	4.14	2.53	3.69	4.42	6.13
Return On Equity %	6.01	7.33	3.8	5.61	9.04
Return on Common Equity	5.98	7.35	3.79	5.58	9.03
Margin Analysis
Gross Profit Margin %	51.98	47.98	49.04	46.73	49.95
SG&A Margin	43.68	42.42	40.29	37.46	36.39
EBITDA Margin %	13.44	10.74	12.75	12.94	17.15
EBITA Margin %	11.92	9.07	11.41	11.92	15.81
EBIT Margin %