Financials Persimmon Plc

Equities

PSN

GB0006825383

Homebuilding

Market Closed - London S.E. 16:35:26 19/07/2024 BST 5-day change 1st Jan Change
1,518 GBX -1.20% Intraday chart for Persimmon Plc +1.44% +9.25%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,526 8,819 9,111 3,885 4,436 4,851 - -
Enterprise Value (EV) 1 7,682 7,585 7,864 3,023 4,015 4,675 4,746 4,736
P/E ratio 10.1 x 13.9 x 11.6 x 6.98 x 17.5 x 18.9 x 14.9 x 12.5 x
Yield 8.72% 3.98% 8.23% 4.93% - 3.97% 4.43% 4.77%
Capitalization / Revenue 2.34 x 2.65 x 2.52 x 1.02 x 1.6 x 1.72 x 1.55 x 1.42 x
EV / Revenue 2.1 x 2.28 x 2.18 x 0.79 x 1.45 x 1.66 x 1.51 x 1.38 x
EV / EBITDA 7.32 x 8.65 x 8.01 x 2.96 x 10.8 x 11.8 x 9.5 x 7.99 x
EV / FCF 13 x 10.2 x 10.3 x 8.13 x -24.2 x -352 x 41.7 x 21.5 x
FCF Yield 7.71% 9.84% 9.71% 12.3% -4.14% -0.28% 2.4% 4.65%
Price to Book 2.63 x 2.51 x 2.51 x 1.13 x - 1.41 x 1.36 x 1.3 x
Nbr of stocks (in thousands) 316,346 318,728 318,996 319,218 319,333 319,660 - -
Reference price 2 26.95 27.67 28.56 12.17 13.89 15.18 15.18 15.18
Announcement Date 27/02/20 03/03/21 02/03/22 01/03/23 12/03/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,649 3,328 3,610 3,816 2,773 2,822 3,134 3,427
EBITDA 1 1,050 876.9 981.2 1,022 373.2 395 499.8 593
EBIT 1 1,037 862.8 966.7 1,006 354.5 380.1 484.3 578.5
Operating Margin 28.41% 25.92% 26.77% 26.38% 12.78% 13.47% 15.45% 16.88%
Earnings before Tax (EBT) 1 1,041 783.8 966.8 730.7 351.8 360.9 454.8 545.1
Net income 1 848.8 638.4 787.2 561 255.4 254.3 319.9 386.7
Net margin 23.26% 19.18% 21.8% 14.7% 9.21% 9.01% 10.21% 11.28%
EPS 2 2.663 1.996 2.456 1.743 0.7950 0.8016 1.016 1.218
Free Cash Flow 1 592.5 746.6 763.9 371.8 -166.2 -13.27 113.8 220.4
FCF margin 16.24% 22.43% 21.16% 9.74% -5.99% -0.47% 3.63% 6.43%
FCF Conversion (EBITDA) 56.43% 85.14% 77.85% 36.37% - - 22.77% 37.16%
FCF Conversion (Net income) 69.8% 116.95% 97.04% 66.27% - - 35.59% 56.99%
Dividend per Share 2 2.350 1.100 2.350 0.6000 - 0.6020 0.6727 0.7246
Announcement Date 27/02/20 03/03/21 02/03/22 01/03/23 12/03/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 S2 2024 S1
Net sales 1 1,895 1,190 1,841 1,770 1,251
EBITDA - - - - -
EBIT 1 526.6 - 483 483.7 136
Operating Margin 27.78% - 26.24% 27.33% 10.87%
Earnings before Tax (EBT) - - 480.1 486.7 -
Net income - - 391.2 396 -
Net margin - - 21.25% 22.38% -
EPS - - - - -
Dividend per Share - - - - -
Announcement Date 27/02/20 18/08/20 18/08/21 02/03/22 -
1GBP in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 844 1,234 1,247 862 420 176 105 115
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 593 747 764 372 -166 -13.3 114 220
ROE (net income / shareholders' equity) 26.3% 18.8% 22.1% 22% 7.45% 7.54% 9.5% 11%
ROA (Net income/ Total Assets) 18.6% 14% 16.9% 11.4% 5.2% 5.37% 6.95% 8.05%
Assets 1 4,571 4,556 4,671 4,913 4,911 4,733 4,606 4,806
Book Value Per Share 2 10.20 11.00 11.40 10.80 - 10.80 11.10 11.70
Cash Flow per Share 2 1.940 2.390 2.450 1.250 -0.4000 -0.3000 0.9300 1.140
Capex 1 27.5 18.9 20.9 30.5 36.4 26.1 24.9 25.7
Capex / Sales 0.75% 0.57% 0.58% 0.8% 1.31% 0.92% 0.79% 0.75%
Announcement Date 27/02/20 03/03/21 02/03/22 01/03/23 12/03/24 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
15.18 GBP
Average target price
15.29 GBP
Spread / Average Target
+0.73%
Consensus

Quarterly revenue - Rate of surprise

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