Balance Sheet Rathbones Group Plc

Equities

RAT

GB0002148343

Investment Management & Fund Operators

Real-time Estimate Cboe Europe Other stock markets 13:37:02 12/09/2024 BST			5-day change	1st Jan Change
1,745.00 ^GBX	-0.06%		-0.79%	+0.46%

08-29	Bunzl, Centrica and Whibread upped; Reckitt cut	AN
08-02	Jefferies likes Frasers; Peel cuts Man Group	AN

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Published financial data: RATHBONES GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	353M	378M	458M	463M	539M
Gain (Loss) on Sale of Investment, Total (Rev)	-73K	1.38M	-11K	460K	1.1M
Interest And Invest. Income (Rev)	28.55M	14.98M	7.71M	46.34M	136M
Other Revenues, Total	170K	-12K	-	-	-
Total Revenues	381M	395M	465M	509M	676M
Cost of Goods Sold, Total	23.55M	24.49M	29.06M	27.48M	29.7M
Gross Profit	358M	370M	436M	482M	646M
Selling General & Admin Expenses, Total	2.15M	1.82M	1.94M	2.09M	9.6M
Stock-Based Compensation (IS)	9.33M	11.28M	11.6M	15.86M	16.5M
Amortization of Goodwill and Intangible Assets - (IS)	15.37M	14.3M	15.6M	19.54M	25.2M
Other Operating Expenses	242M	258M	298M	339M	416M
Other Operating Expenses, Total	269M	285M	327M	376M	468M
Operating Income	88.59M	84.78M	109M	106M	179M
Interest Expense, Total	-12.14M	-6.55M	-3.83M	-28.03M	-77.1M
Net Interest Expenses	-12.14M	-6.55M	-3.83M	-28.03M	-77.1M
EBT, Excl. Unusual Items	76.45M	78.23M	105M	77.52M	102M
Restructuring Charges	-	-	-	-	-
Merger & Related Restructuring Charges	-33.06M	-34.45M	-10.09M	-13.46M	-44.3M
Impairment of Goodwill	-595K	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-3.14M	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	39.65M	43.78M	95.04M	64.05M	57.6M
Income Tax Expense	12.73M	17.13M	19.81M	15.07M	20.1M
Earnings From Continuing Operations	26.92M	26.65M	75.23M	48.98M	37.5M
Net Income to Company	26.92M	26.65M	75.23M	48.98M	37.5M
Net Income - (IS)	26.92M	26.65M	75.23M	48.98M	37.5M
Net Income to Common Incl Extra Items	26.92M	26.65M	75.23M	48.98M	37.5M
Net Income to Common Excl. Extra Items	26.92M	26.65M	75.23M	48.98M	37.5M
Per Share Items
Net EPS - Basic	0.5	0.5	1.34	0.84	0.53
Basic EPS - Continuing Operations	0.5	0.5	1.34	0.84	0.53
Basic Weighted Average Shares Outstanding	53.57M	53.72M	56.33M	58.62M	71.27M
Net EPS - Diluted	0.49	0.48	1.29	0.82	0.51
Diluted EPS - Continuing Operations	0.49	0.48	1.29	0.82	0.51
Diluted Weighted Average Shares Outstanding	55.25M	55.96M	58.18M	60.05M	73.87M
Normalized Basic EPS	0.89	0.91	1.17	0.83	0.89
Normalized Diluted EPS	0.86	0.87	1.13	0.81	0.86
Dividend Per Share	0.7	0.72	0.81	0.84	0.87
Payout Ratio	133.56	141.94	58.43	99.23	190.4
Supplemental Items
EBITDA	108M	103M	129M	130M	211M
EBITA	104M	99.08M	125M	125M	204M
EBIT	88.59M	84.78M	109M	106M	179M
EBITDAR	110M	105M	130M	131M	215M
Effective Tax Rate - (Ratio)	32.1	39.12	20.84	23.53	34.9
Total Current Taxes	15.92M	17.52M	23.88M	16.76M	23.9M
Total Deferred Taxes	-3.19M	-393K	-4.08M	-1.69M	-3.8M
Normalized Net Income	47.78M	48.89M	65.7M	48.45M	63.69M
Interest on Long-Term Debt	4.93M	4.29M	4.38M	5.32M	5.5M
Non-Cash Pension Expense	255K	200K	105K	-258K	-500K
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	6.1M
Selling and Marketing Expenses	-	-	-	-	6.1M
Research And Development Expense From Footnotes	1.33M	1.2M	1.38M	1.49M	1.8M
Net Rental Expense, Total	2.15M	1.82M	1.3M	1.46M	3.5M
Imputed Operating Lease Interest Expense	4.12M	1.21M	458K	3.48M	19.75M
Imputed Operating Lease Depreciation	-1.97M	608K	840K	-2.02M	-16.25M
Stock-Based Comp., Other (Total)	31.01M	39.99M	20.13M	25.89M	24M
Total Stock-Based Compensation	31.01M	39.99M	20.13M	25.89M	24M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Short Term Investments	75.77M	18.3M	9.93M	11.21M	1.2M
Total Cash And Short Term Investments	75.77M	18.3M	9.93M	11.21M	1.2M
Accounts Receivable, Total	320M	398M	450M	437M	529M
Other Receivables	-	-	2.27M	3.48M	3.9M
Total Receivables	320M	398M	452M	440M	533M
Prepaid Expenses	21.53M	16.19M	19.51M	24.5M	6.5M
Other Current Assets, Total	2.69B	2.64B	2.34B	2.55B	2.57B
Total Current Assets	3.1B	3.08B	2.83B	3.03B	3.11B
Gross Property Plant And Equipment	97.64M	101M	109M	112M	154M
Accumulated Depreciation	-32.72M	-41.1M	-52.13M	-60.11M	-73.2M
Net Property Plant And Equipment	64.91M	59.7M	56.95M	51.77M	80.6M
Long-term Investments	-	-	-	-	-
Goodwill	90.4M	96.87M	168M	168M	508M
Other Intangibles, Total	137M	134M	209M	189M	518M
Deferred Tax Assets Long-Term	2.64M	3.34M	-	-	-
Other Long-Term Assets, Total	-	-	12.29M	9.4M	7M
Total Assets	3.4B	3.37B	3.27B	3.45B	4.22B
Liabilities
Accounts Payable, Total	4M	785K	59K	3.21M	8.2M
Accrued Expenses, Total	72.85M	81.8M	105M	101M	169M
Short-term Borrowings	28K	893K	2.21M	1.04M	12.4M
Current Portion of Leases	5.13M	4.87M	4.85M	5M	11.9M
Current Income Taxes Payable	4.77M	971K	-	247K	500K
Other Current Liabilities	2.73B	2.66B	2.4B	2.59B	2.45B
Total Current Liabilities	2.82B	2.75B	2.51B	2.7B	2.65B
Long-Term Debt	19.93M	19.77M	39.89M	39.89M	39.9M
Long-Term Leases	55.88M	51.26M	50.12M	45.48M	63M
Pension & Other Post Retirement Benefits	8.01M	9.78M	-	-	-
Deferred Tax Liability Non Current	-	-	13.81M	7.53M	86M
Other Non Current Liabilities	12.8M	27.01M	33.18M	19.01M	36.2M
Total Liabilities	2.91B	2.86B	2.65B	2.81B	2.87B
Common Stock, Total	2.82M	2.87M	3.1M	3.17M	5.4M
Additional Paid In Capital	211M	215M	291M	310M	312M
Retained Earnings	242M	271M	289M	297M	264M
Treasury Stock	-41.97M	-46.74M	-36.63M	-52.52M	-55.6M
Comprehensive Income and Other	71.76M	71.76M	76.96M	76.96M	824M
Total Common Equity	485M	514M	623M	635M	1.35B
Total Equity	485M	514M	623M	635M	1.35B
Total Liabilities And Equity	3.4B	3.37B	3.27B	3.45B	4.22B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	54M	53.73M	58.38M	58.51M	104M
ECS Total Common Shares Outstanding	54M	53.73M	58.38M	58.51M	104M
Book Value / Share	8.99	9.56	10.68	10.85	13.03
Tangible Book Value	258M	283M	247M	279M	325M
Tangible Book Value Per Share	4.77	5.26	4.23	4.76	3.14
Total Debt	80.96M	76.78M	97.08M	91.41M	127M
Net Debt	5.19M	58.49M	87.14M	80.2M	126M
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.01M	9.78M	-12.29M	-9.4M	-7M
Debt Equivalent Oper. Leases	17.18M	14.52M	10.38M	11.69M	28M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	21.61M	23.69M	27.2M	29.09M	35.6M
Full Time Employees	1.51K	1.59K	1.97K	2.17K	3.5K
Accumulated Allowance for Doubtful Accounts (Supple)	110K	104K	235K	133K	300K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	26.92M	26.65M	75.23M	48.98M	37.5M
Depreciation & Amortization - CF	8.93M	9.24M	9.25M	10.35M	11.7M
Amortization of Goodwill and Intangible Assets - (CF)	15.37M	14.3M	15.6M	19.54M	25.2M
Depreciation & Amortization, Total	24.3M	23.54M	24.84M	29.9M	36.9M
Amortization of Deferred Charges, Total - (CF)	5.76M	7.68M	6.44M	5.05M	5.6M
(Gain) Loss From Sale Of Asset	428K	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-337K	-1.88M	-670K	304K	-1M
Asset Writedown & Restructuring Costs	3.74M	-	-	-	4.6M
Provision for Credit Losses	4K	5K	14K	-45K	100K
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	31.01M	39.99M	20.13M	25.89M	24M
Other Operating Activities, Total	-1.1M	-6.58M	-8.15M	-17.12M	-7.5M
Change In Accounts Receivable	-12.76M	-37.85M	20.62M	3.93M	133M
Change In Accounts Payable	21M	37.72M	-35.34M	9.8M	-124M
Change in Other Net Operating Assets	401M	-57.27M	-317M	186M	-199M
Cash from Operations	500M	32.02M	-214M	293M	-89.4M
Capital Expenditure	-17.94M	-13.29M	-12.63M	-13.13M	-10.7M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-12.05M	-79.74M	-10.87M	173M
Investment in Marketable and Equity Securities, Total	304M	-53.14M	-111M	-278M	-242M
Other Investing Activities, Total	-	-238K	-70K	-	-
Cash from Investing	286M	-78.72M	-203M	-302M	-79.9M
Long-Term Debt Issued, Total	-	-	39.89M	-	-
Total Debt Issued	-	-	39.89M	-	-
Long-Term Debt Repaid, Total	-4.62M	-4.88M	-25.22M	-8.48M	-7.5M
Total Debt Repaid	-4.62M	-4.88M	-25.22M	-8.48M	-7.5M
Issuance of Common Stock	5.69M	4.21M	81.37M	9.26M	-
Repurchase of Common Stock	-10.03M	-5.08M	-37.03M	-18.57M	-16M
Common Dividends Paid	-35.96M	-37.83M	-43.96M	-48.61M	-71.4M
Common & Preferred Stock Dividends Paid	-35.96M	-37.83M	-43.96M	-48.61M	-71.4M
Other Financing Activities, Total	-1.17M	-1.06M	-895K	-5.32M	-5.6M
Cash from Financing	-46.09M	-44.64M	14.15M	-71.71M	-100M
Net Change in Cash	739M	-91.34M	-403M	-80.87M	-270M
Supplemental Items
Cash Interest Paid	12.59M	6.36M	5.89M	26.18M	73.3M
Cash Income Tax Paid (Refund)	17.13M	21.41M	27.21M	17.61M	29.5M
Levered Free Cash Flow	103M	11.54M	120M	89.74M	-37.81M
Unlevered Free Cash Flow	111M	15.64M	122M	107M	10.38M
Change In Net Working Capital	-12.04M	95.27M	-15.4M	6.4M	157M
Net Debt Issued / Repaid	-4.62M	-4.88M	14.67M	-8.48M	-7.5M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.77	1.57	2.05	1.96	2.92
Return on Total Capital	10.54	9.16	10.39	9.12	10.15
Return On Equity %	5.67	5.33	13.23	7.79	3.78
Return on Common Equity	5.67	5.33	13.23	7.79	3.78
Margin Analysis
Gross Profit Margin %	93.82	93.79	93.76	94.61	95.61
SG&A Margin	0.56	0.46	0.42	0.41	1.42
EBITDA Margin %	28.33	26.22	27.68	25.48	31.25
EBITA Margin %	27.27	25.11	26.76	24.55	30.2
EBIT Margin %	23.24	21.49	23.41	20.72	26.47
Income From Continuing Operations Margin %	7.06	6.75	16.16	9.61	5.55
Net Income Margin %	7.06	6.75	16.16	9.61	5.55
Net Avail. For Common Margin %	7.06	6.75	16.16	9.61	5.55
Normalized Net Income Margin	12.53	12.39	14.12	9.51	9.42
Levered Free Cash Flow Margin	27.01	2.92	25.76	17.61	-5.59
Unlevered Free Cash Flow Margin	29	3.96	26.27	21.05	1.53
Asset Turnover
Asset Turnover	0.12	0.12	0.14	0.15	0.18
Fixed Assets Turnover	9.33	6.33	7.98	9.37	10.21
Receivables Turnover (Average Receivables)	1.09	1.05	1.08	1.04	1.11
Short Term Liquidity
Current Ratio	1.1	1.12	1.13	1.12	1.17
Quick Ratio	0.14	0.15	0.18	0.17	0.2
Operating Cash Flow to Current Liabilities	0.18	0.01	-0.09	0.11	-0.03
Days Sales Outstanding (Average Receivables)	335.51	347.52	338.16	349.7	327.35
Average Days Payable Outstanding	50.49	35.76	5.3	21.7	70.05
Long Term Solvency
Total Debt/Equity	16.68	14.94	15.57	14.4	9.42
Total Debt / Total Capital	14.29	13	13.48	12.59	8.61
LT Debt/Equity	15.62	13.82	14.44	13.45	7.62
Long-Term Debt / Total Capital	13.38	12.03	12.5	11.76	6.96
Total Liabilities / Total Assets	85.72	84.76	80.95	81.58	68.04
EBIT / Interest Expense	7.3	12.94	28.42	3.77	2.32
EBITDA / Interest Expense	9.3	16.53	34.9	4.83	2.8
(EBITDA - Capex) / Interest Expense	7.82	14.5	31.6	4.36	2.66
Total Debt / EBITDA