Balance Sheet Rathbones Group Plc

Equities

RAT

GB0002148343

Investment Management & Fund Operators

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Published financial data: RATHBONES GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	378M	458M	463M	539M	835M
Gain (Loss) on Sale of Investment, Total (Rev)	1.38M	-11K	460K	1.1M	-
Interest And Invest. Income (Rev)	14.98M	7.71M	46.34M	136M	176M
Other Revenues, Total	-12K	-	-	-	-
Total Revenues	395M	465M	509M	676M	1.01B
Cost of Goods Sold, Total	24.49M	29.06M	27.48M	29.7M	34.3M
Gross Profit	370M	436M	482M	646M	977M
Selling General & Admin Expenses, Total	1.82M	1.94M	2.09M	9.6M	-
Stock-Based Compensation (IS)	11.28M	11.6M	15.86M	16.5M	16.4M
Amortization of Goodwill and Intangible Assets - (IS)	14.3M	15.6M	19.54M	25.2M	44.6M
Other Operating Expenses	258M	298M	339M	416M	649M
Other Operating Expenses, Total	285M	327M	376M	468M	710M
Operating Income	84.78M	109M	106M	179M	267M
Interest Expense, Total	-6.55M	-3.83M	-28.03M	-77.1M	-83.9M
Net Interest Expenses	-6.55M	-3.83M	-28.03M	-77.1M	-83.9M
EBT, Excl. Unusual Items	78.23M	105M	77.52M	102M	183M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-34.45M	-10.09M	-13.46M	-44.3M	-83.4M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	43.78M	95.04M	64.05M	57.6M	99.6M
Income Tax Expense	17.13M	19.81M	15.07M	20.1M	34.1M
Earnings From Continuing Operations	26.65M	75.23M	48.98M	37.5M	65.5M
Net Income to Company	26.65M	75.23M	48.98M	37.5M	65.5M
Net Income - (IS)	26.65M	75.23M	48.98M	37.5M	65.5M
Net Income to Common Incl Extra Items	26.65M	75.23M	48.98M	37.5M	65.5M
Net Income to Common Excl. Extra Items	26.65M	75.23M	48.98M	37.5M	65.5M
Per Share Items
Net EPS - Basic	0.5	1.34	0.84	0.53	0.63
Basic EPS - Continuing Operations	0.5	1.34	0.84	0.53	0.63
Basic Weighted Average Shares Outstanding	53.72M	56.33M	58.62M	71.27M	104M
Net EPS - Diluted	0.48	1.29	0.82	0.51	0.6
Diluted EPS - Continuing Operations	0.48	1.29	0.82	0.51	0.6
Diluted Weighted Average Shares Outstanding	55.96M	58.18M	60.05M	73.87M	108M
Normalized Basic EPS	0.91	1.17	0.83	0.89	1.1
Normalized Diluted EPS	0.87	1.13	0.81	0.86	1.06
Dividend Per Share	0.72	0.81	0.84	0.87	0.93
Payout Ratio	141.94	58.43	99.23	190.4	86.87
Supplemental Items
EBITDA	103M	129M	130M	211M	319M
EBITA	99.08M	125M	125M	204M	312M
EBIT	84.78M	109M	106M	179M	267M
EBITDAR	105M	130M	131M	215M	-
Effective Tax Rate - (Ratio)	39.12	20.84	23.53	34.9	34.24
Total Current Taxes	17.52M	23.88M	16.76M	23.9M	38.9M
Total Deferred Taxes	-393K	-4.08M	-1.69M	-3.8M	-4.8M
Normalized Net Income	48.89M	65.7M	48.45M	63.69M	114M
Interest on Long-Term Debt	4.29M	4.38M	5.32M	5.5M	5.1M
Non-Cash Pension Expense	200K	105K	-258K	-500K	-400K
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	6.1M	-
Selling and Marketing Expenses	-	-	-	6.1M	-
Research And Development Expense From Footnotes	1.2M	1.38M	1.49M	1.8M	2.2M
Net Rental Expense, Total	1.82M	1.3M	1.46M	3.5M	-
Imputed Operating Lease Interest Expense	1.21M	458K	3.48M	19.75M	-
Imputed Operating Lease Depreciation	608K	840K	-2.02M	-16.25M	-
Stock-Based Comp., Other (Total)	39.99M	20.13M	25.89M	24M	29.2M
Total Stock-Based Compensation	39.99M	20.13M	25.89M	24M	29.2M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Short Term Investments	18.3M	9.93M	11.21M	1.2M	-
Total Cash And Short Term Investments	18.3M	9.93M	11.21M	1.2M	-
Accounts Receivable, Total	398M	450M	437M	529M	506M
Other Receivables	-	2.27M	3.48M	3.9M	6.8M
Total Receivables	398M	452M	440M	533M	513M
Prepaid Expenses	16.19M	19.51M	24.5M	6.5M	17.3M
Other Current Assets, Total	2.64B	2.34B	2.55B	2.57B	2.68B
Total Current Assets	3.08B	2.83B	3.03B	3.11B	3.21B
Gross Property Plant And Equipment	101M	109M	112M	154M	175M
Accumulated Depreciation	-41.1M	-52.13M	-60.11M	-73.2M	-79.1M
Net Property Plant And Equipment	59.7M	56.95M	51.77M	80.6M	95.5M
Long-term Investments	-	-	-	-	-
Goodwill	96.87M	168M	168M	508M	505M
Other Intangibles, Total	134M	209M	189M	518M	478M
Deferred Tax Assets Long-Term	3.34M	-	-	-	-
Other Long-Term Assets, Total	-	12.29M	9.4M	7M	500K
Total Assets	3.37B	3.27B	3.45B	4.22B	4.29B
Liabilities
Accounts Payable, Total	785K	59K	3.21M	8.2M	6.2M
Accrued Expenses, Total	81.8M	105M	101M	169M	215M
Short-term Borrowings	893K	2.21M	1.04M	12.4M	3.8M
Current Portion of Leases	4.87M	4.85M	5M	11.9M	10M
Current Income Taxes Payable	971K	-	247K	500K	500K
Other Current Liabilities	2.66B	2.4B	2.59B	2.45B	2.51B
Total Current Liabilities	2.75B	2.51B	2.7B	2.65B	2.74B
Long-Term Debt	19.77M	39.89M	39.89M	39.9M	39.9M
Long-Term Leases	51.26M	50.12M	45.48M	63M	34.8M
Pension & Other Post Retirement Benefits	9.78M	-	-	-	-
Deferred Tax Liability Non Current	-	13.81M	7.53M	86M	78M
Other Non Current Liabilities	27.01M	33.18M	19.01M	36.2M	37M
Total Liabilities	2.86B	2.65B	2.81B	2.87B	2.93B
Common Stock, Total	2.87M	3.1M	3.17M	5.4M	5.5M
Additional Paid In Capital	215M	291M	310M	312M	318M
Retained Earnings	271M	289M	297M	264M	280M
Treasury Stock	-46.74M	-36.63M	-52.52M	-55.6M	-68.1M
Comprehensive Income and Other	71.76M	76.96M	76.96M	824M	824M
Total Common Equity	514M	623M	635M	1.35B	1.36B
Total Equity	514M	623M	635M	1.35B	1.36B
Total Liabilities And Equity	3.37B	3.27B	3.45B	4.22B	4.29B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	53.73M	58.38M	58.51M	104M	103M
ECS Total Common Shares Outstanding	53.73M	58.38M	58.51M	104M	103M
Book Value / Share	9.56	10.68	10.85	13.03	13.14
Tangible Book Value	283M	247M	279M	325M	377M
Tangible Book Value Per Share	5.26	4.23	4.76	3.14	3.64
Total Debt	76.78M	97.08M	91.41M	127M	88.5M
Net Debt	58.49M	87.14M	80.2M	126M	88.5M
Debt Equivalent of Unfunded Proj. Benefit Obligation	9.78M	-12.29M	-9.4M	-7M	-500K
Debt Equivalent Oper. Leases	14.52M	10.38M	11.69M	28M	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	23.69M	27.2M	29.09M	35.6M	34.7M
Full Time Employees	1.59K	1.97K	2.17K	3.5K	3.54K
Accumulated Allowance for Doubtful Accounts (Supple)	104K	235K	133K	300K	200K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	26.65M	75.23M	48.98M	37.5M	65.5M
Depreciation & Amortization - CF	9.24M	9.25M	10.35M	11.7M	21.8M
Amortization of Goodwill and Intangible Assets - (CF)	14.3M	15.6M	19.54M	25.2M	44.6M
Depreciation & Amortization, Total	23.54M	24.84M	29.9M	36.9M	66.4M
Amortization of Deferred Charges, Total - (CF)	7.68M	6.44M	5.05M	5.6M	7.3M
(Gain) Loss From Sale Of Asset	-	-	-	-	100K
(Gain) Loss on Sale of Investments - (CF)	-1.88M	-670K	304K	-1M	-
Asset Writedown & Restructuring Costs	-	-	-	4.6M	6.7M
Provision for Credit Losses	5K	14K	-45K	-	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	39.99M	20.13M	25.89M	24M	29.1M
Other Operating Activities, Total	-6.58M	-8.15M	-17.12M	-7.4M	-7.5M
Change In Accounts Receivable	-37.85M	20.62M	3.93M	133M	37.4M
Change In Accounts Payable	37.72M	-35.34M	9.8M	-124M	-38.5M
Change in Other Net Operating Assets	-57.27M	-317M	186M	-199M	127M
Cash from Operations	32.02M	-214M	293M	-89.4M	294M
Capital Expenditure	-13.29M	-12.63M	-13.13M	-10.7M	-56.6M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-12.05M	-79.74M	-10.87M	173M	-
Investment in Marketable and Equity Securities, Total	-53.14M	-111M	-278M	-242M	18.6M
Other Investing Activities, Total	-238K	-70K	-	-	-
Cash from Investing	-78.72M	-203M	-302M	-79.9M	-38M
Long-Term Debt Issued, Total	-	39.89M	-	-	-
Total Debt Issued	-	39.89M	-	-	-
Long-Term Debt Repaid, Total	-4.88M	-25.22M	-8.48M	-7.5M	-20.9M
Total Debt Repaid	-4.88M	-25.22M	-8.48M	-7.5M	-20.9M
Issuance of Common Stock	4.21M	81.37M	9.26M	-	5.6M
Repurchase of Common Stock	-5.08M	-37.03M	-18.57M	-16M	-22M
Common Dividends Paid	-37.83M	-43.96M	-48.61M	-71.4M	-56.9M
Common & Preferred Stock Dividends Paid	-37.83M	-43.96M	-48.61M	-71.4M	-56.9M
Other Financing Activities, Total	-1.06M	-895K	-5.32M	-5.6M	-5.1M
Cash from Financing	-44.64M	14.15M	-71.71M	-100M	-99.3M
Net Change in Cash	-91.34M	-403M	-80.87M	-270M	156M
Supplemental Items
Cash Interest Paid	6.36M	5.89M	26.18M	73.3M	84.9M
Cash Income Tax Paid (Refund)	21.41M	27.21M	17.61M	29.5M	41.8M
Levered Free Cash Flow	11.54M	120M	89.74M	-37.81M	176M
Unlevered Free Cash Flow	15.64M	122M	107M	10.38M	228M
Change In Net Working Capital	95.27M	-15.4M	6.4M	157M	-15M
Net Debt Issued / Repaid	-4.88M	14.67M	-8.48M	-7.5M	-20.9M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.57	2.05	1.96	2.92	3.92
Return on Total Capital	9.16	10.39	9.12	10.15	11.4
Return On Equity %	5.33	13.23	7.79	3.78	4.83
Return on Common Equity	5.33	13.23	7.79	3.78	4.83
Margin Analysis
Gross Profit Margin %	93.79	93.76	94.61	95.61	96.61
SG&A Margin	0.46	0.42	0.41	1.42	-
EBITDA Margin %	26.22	27.68	25.48	31.25	31.52
EBITA Margin %	25.11	26.76	24.55	30.2	30.81
EBIT Margin %	21.49	23.41	20.72	26.47	26.4
Income From Continuing Operations Margin %	6.75	16.16	9.61	5.55	6.48
Net Income Margin %	6.75	16.16	9.61	5.55	6.48
Net Avail. For Common Margin %	6.75	16.16	9.61	5.55	6.48
Normalized Net Income Margin	12.39	14.12	9.51	9.42	11.31
Levered Free Cash Flow Margin	2.92	25.76	17.61	-5.59	17.38
Unlevered Free Cash Flow Margin	3.96	26.27	21.05	1.53	22.57
Asset Turnover
Asset Turnover	0.12	0.14	0.15	0.18	0.24
Fixed Assets Turnover	6.33	7.98	9.37	10.21	11.48
Receivables Turnover (Average Receivables)	1.05	1.08	1.04	1.11	1.61
Short Term Liquidity
Current Ratio	1.12	1.13	1.12	1.17	1.17
Quick Ratio	0.15	0.18	0.17	0.2	0.19
Operating Cash Flow to Current Liabilities	0.01	-0.09	0.11	-0.03	0.11
Days Sales Outstanding (Average Receivables)	347.52	338.16	349.7	327.35	226.89
Average Days Payable Outstanding	35.76	5.3	21.7	70.05	76.83
Long Term Solvency
Total Debt/Equity	14.94	15.57	14.4	9.42	6.51
Total Debt / Total Capital	13	13.48	12.59	8.61	6.11
LT Debt/Equity	13.82	14.44	13.45	7.62	5.5
Long-Term Debt / Total Capital	12.03	12.5	11.76	6.96	5.16
Total Liabilities / Total Assets	84.76	80.95	81.58	68.04	68.31
EBIT / Interest Expense	12.94	28.42	3.77	2.32	3.18
EBITDA / Interest Expense	16.53	34.9	4.83	2.8	3.97
(EBITDA - Capex) / Interest Expense	14.5	31.6	4.36	2.66	3.3
Total Debt / EBITDA	0.71	0.73	0.67	0.59	0.27
Net Debt / EBITDA	0.54	0.65	0.59	0.58	0.27
Total Debt / (EBITDA - Capex)	0.81	0.8	0.75	0.62	0.32
Net Debt / (EBITDA - Capex)	0.62	0.72	0.66	0.61	0.32
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	3.52	17.94	9.28	32.95	49.5
Gross Profit, 1 Yr. Growth %	3.49	17.9	10.26	34.38	51.06
EBITDA, 1 Yr. Growth %	-4.19	24.5	0.8	62.66	50.78
EBITA, 1 Yr. Growth %	-4.69	25.7	0.43	63.23	52.55
EBIT, 1 Yr. Growth %	-4.3	28.52	-3.13	69.51	49.11
Earnings From Cont. Operations, 1 Yr. Growth %	-1.01	182.26	-34.89	-23.47	74.67
Net Income, 1 Yr. Growth %	-1.01	182.26	-34.89	-23.47	74.67
Normalized Net Income, 1 Yr. Growth %	2.33	34.38	-26.26	31.31	79.59
Diluted EPS Before Extra, 1 Yr. Growth %	-2.26	171.64	-36.89	-37.67	18.9
Accounts Receivable, 1 Yr. Growth %	24.39	12.99	-2.94	21.23	-4.42
Net Property, Plant and Equip., 1 Yr. Growth %	-8.03	-4.6	-9.1	55.6	18.49
Total Assets, 1 Yr. Growth %	-0.83	-2.93	5.36	22.55	1.56
Tangible Book Value, 1 Yr. Growth %	9.74	-12.59	12.77	16.62	15.94
Common Equity, 1 Yr. Growth %	5.86	21.3	1.85	112.7	0.68
Cash From Operations, 1 Yr. Growth %	-93.59	-769.12	-273.32	-130.52	-428.41
Capital Expenditures, 1 Yr. Growth %	-25.91	-4.98	3.39	-18.32	428.97
Levered Free Cash Flow, 1 Yr. Growth %	-88.38	-13K	-21.29	-144.02	-441.03
Unlevered Free Cash Flow, 1 Yr. Growth %	-85.37	3.76K	-7.85	-89.97	-6.96K
Dividend Per Share, 1 Yr. Growth %	2.86	12.5	3.7	3.57	6.9
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	7.98	10.5	13.63	20.43	40.98
Gross Profit, 2 Yr. CAGR %	8.31	10.46	14.12	21.61	42.48
EBITDA, 2 Yr. CAGR %	1.2	9.22	12.02	28.08	56.61
EBITA, 2 Yr. CAGR %	0.96	9.46	12.36	28.04	57.8
EBIT, 2 Yr. CAGR %	0.29	10.9	11.58	28.17	58.98
Earnings From Cont. Operations, 2 Yr. CAGR %	-24.02	67.16	35.57	-29.4	15.62
Net Income, 2 Yr. CAGR %	-24.02	67.16	35.57	-29.4	15.62
Normalized Net Income, 2 Yr. CAGR %	-0.26	17.27	-0.46	-1.55	53.57
Diluted EPS Before Extra, 2 Yr. CAGR %	-25.69	62.94	30.93	-37.32	-13.91
Accounts Receivable, 2 Yr. CAGR %	10.18	18.56	4.72	8.47	7.64
Net Property, Plant and Equip., 2 Yr. CAGR %	88.3	-6.33	-6.88	18.96	35.78
Total Assets, 2 Yr. CAGR %	8.41	-1.89	1.13	13.63	11.56
Tangible Book Value, 2 Yr. CAGR %	12.03	-2.06	-0.72	14.67	16.28
Common Equity, 2 Yr. CAGR %	5.22	13.32	11.15	47.18	46.34
Cash From Operations, 2 Yr. CAGR %	-46.63	-34.52	202.49	-27.27	0.12
Capital Expenditures, 2 Yr. CAGR %	-14.86	-16.1	-0.61	-8.22	107.86
Levered Free Cash Flow, 2 Yr. CAGR %	-46.98	9.86	882.58	-42.41	43.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	-40.78	6.94	481.98	-70.15	48.53
Dividend Per Share, 2 Yr. CAGR %	4.45	7.57	8.01	3.64	5.22
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.54	11.21	10.16	19.67	29.43
Gross Profit, 3 Yr. CAGR %	8.99	11.42	10.46	20.43	30.72
EBITDA, 3 Yr. CAGR %	3.6	8.44	6.33	26.87	35.24
EBITA, 3 Yr. CAGR %	3.48	8.61	6.36	27.26	35.74
EBIT, 3 Yr. CAGR %	2.82	8.94	6.01	28.29	34.8
Earnings From Cont. Operations, 3 Yr. CAGR %	-17.13	17.67	22.08	12.06	-4.51
Net Income, 3 Yr. CAGR %	-17.13	17.67	22.08	12.06	-4.51
Normalized Net Income, 3 Yr. CAGR %	0.93	10.16	0.46	9.21	20.3
Diluted EPS Before Extra, 3 Yr. CAGR %	-19.69	14.47	18.77	2.19	-22.41
Accounts Receivable, 3 Yr. CAGR %	14.63	11.11	10.91	9.96	3.99
Net Property, Plant and Equip., 3 Yr. CAGR %	53.65	50.11	-7.26	10.52	18.8
Total Assets, 3 Yr. CAGR %	7.16	4.49	0.47	7.82	9.45
Tangible Book Value, 3 Yr. CAGR %	11.98	3.14	2.65	4.75	15.09
Common Equity, 3 Yr. CAGR %	12.25	10.33	9.36	37.99	29.68
Cash From Operations, 3 Yr. CAGR %	-55.01	23.99	-16.3	40.82	20.21
Capital Expenditures, 3 Yr. CAGR %	-6.23	-11.68	-9.88	-6.98	64.56
Levered Free Cash Flow, 3 Yr. CAGR %	-46.34	42.93	-3.33	243.92	15.5
Unlevered Free Cash Flow, 3 Yr. CAGR %	-40.94	39.98	0.11	48.52	25.14
Dividend Per Share, 3 Yr. CAGR %	5.68	7.06	6.27	6.51	4.71
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	10.59	11.49	10.55	14.85	21.54
Gross Profit, 5 Yr. CAGR %	9.93	11.58	11.01	15.43	22.25
EBITDA, 5 Yr. CAGR %	6.4	9.98	6.89	15.9	24.16
EBITA, 5 Yr. CAGR %	6.28	10.04	6.94	16	24.54
EBIT, 5 Yr. CAGR %	6.33	10.68	6.24	16.26	24.68
Earnings From Cont. Operations, 5 Yr. CAGR %	-10.48	14.54	0.9	-4.07	19.46
Net Income, 5 Yr. CAGR %	-10.48	14.54	0.9	-4.07	19.46
Normalized Net Income, 5 Yr. CAGR %	5.62	10.68	0.37	5.32	19.07
Diluted EPS Before Extra, 5 Yr. CAGR %	-13.2	10.58	-2.35	-10.04	4.4
Accounts Receivable, 5 Yr. CAGR %	11.84	10.05	10.56	10.05	9.59
Net Property, Plant and Equip., 5 Yr. CAGR %	42.94	27.98	25.76	36.78	8.03
Total Assets, 5 Yr. CAGR %	12.94	6.36	4.71	8.06	4.77
Tangible Book Value, 5 Yr. CAGR %	17.04	9.41	6.72	7.6	7.9
Common Equity, 5 Yr. CAGR %	11.35	13.92	11.81	23.81	22.87
Cash From Operations, 5 Yr. CAGR %	-28.92	-17.7	-3.58	-4.47	-10.09
Capital Expenditures, 5 Yr. CAGR %	-10.29	-13.53	-4.02	-10.21	25.83
Levered Free Cash Flow, 5 Yr. CAGR %	16.13	72.18	3.74	-1.63	12.08
Unlevered Free Cash Flow, 5 Yr. CAGR %	16.63	79.99	7.16	-25.29	16.36
Dividend Per Share, 5 Yr. CAGR %	5.53	7.28	6.61	5.68	5.85