Cash flow Reece Limited

Equities

REH

AU000000REH4

Construction Supplies & Fixtures

Delayed Australian S.E. Other stock markets 02:31:34 13/09/2024 BST			5-day change	1st Jan Change
27.60 ^AUD	+0.84%		+3.80%	+23.22%

09-05	AFC Energy Names New CEO	MT
09-05	AFC Energy plc Announces Chief Executive Office Changes	CI

803121526230360e294bb6f2.12WyAycofy2dhXHDkl0oqGuWhqO1a4ds2QnF4z2jsWw.5jfVRBVMGlrk0jr38w5gnx2k58zXIOsv9GG0tUjqhh2gKYM3T2lLQcnRGg

Published financial data: REECE LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2020	2021	2022	2023	2024
Revenues	6.01B	6.27B	7.65B	8.84B	9.1B
Total Revenues	6.01B	6.27B	7.65B	8.84B	9.1B
Cost of Goods Sold, Total	4.34B	4.51B	5.52B	6.33B	6.5B
Gross Profit	1.67B	1.76B	2.14B	2.51B	2.61B
Selling General & Admin Expenses, Total	712M	747M	1.59B	1.85B	1.93B
Depreciation & Amortization - (IS)	189M	184M	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	43.78M	43.24M	-	-	-
Other Operating Expenses	313M	304M	-25.21M	-17.2M	-1.06M
Other Operating Expenses, Total	1.26B	1.28B	1.57B	1.83B	1.93B
Operating Income	414M	482M	572M	679M	674M
Interest Expense, Total	-111M	-90.39M	-68.36M	-86.26M	-104M
Interest And Investment Income	2.5M	2.58M	-	-	12.5M
Net Interest Expenses	-108M	-87.81M	-68.36M	-86.26M	-91.81M
Currency Exchange Gains (Loss)	12.77M	-21.9M	-447K	-	-
Other Non Operating Income (Expenses)	-	-	-	-	409K
EBT, Excl. Unusual Items	318M	372M	503M	592M	583M
Merger & Related Restructuring Charges	-2.62M	-172K	-	-	-
Impairment of Goodwill	-3.92M	-	-	-28.95M	-
Gain (Loss) On Sale Of Assets	716K	8M	6.15M	4.54M	6.58M
EBT, Incl. Unusual Items	313M	380M	509M	568M	590M
Income Tax Expense	83.51M	94.69M	117M	180M	170M
Earnings From Continuing Operations	229M	286M	392M	388M	419M
Net Income to Company	229M	286M	392M	388M	419M
Net Income - (IS)	229M	286M	392M	388M	419M
Net Income to Common Incl Extra Items	229M	286M	392M	388M	419M
Net Income to Common Excl. Extra Items	229M	286M	392M	388M	419M
Per Share Items
Net EPS - Basic	0.4	0.44	0.61	0.6	0.65
Basic EPS - Continuing Operations	0.4	0.44	0.61	0.6	0.65
Basic Weighted Average Shares Outstanding	574M	646M	646M	646M	646M
Net EPS - Diluted	0.4	0.44	0.61	0.6	0.65
Diluted EPS - Continuing Operations	0.4	0.44	0.61	0.6	0.65
Diluted Weighted Average Shares Outstanding	574M	646M	646M	646M	646M
Normalized Basic EPS	0.35	0.36	0.49	0.57	0.56
Normalized Diluted EPS	0.35	0.36	0.49	0.57	0.56
Dividend Per Share	0.12	0.18	0.22	0.25	0.26
Payout Ratio	49.59	27.14	32.09	38.33	38.53
Supplemental Items
EBITDA	544M	610M	707M	826M	829M
EBITA	458M	525M	623M	733M	725M
EBIT	414M	482M	572M	679M	674M
EBITDAR	557M	621M	722M	845M	855M
Total Revenues (As Reported)	6.01B	6.28B	7.69B	-	-
Effective Tax Rate - (Ratio)	26.72	24.9	22.95	31.74	28.9
Total Current Taxes	81.48M	125M	145M	207M	180M
Total Deferred Taxes	2.03M	-30.3M	-28.56M	-26.56M	-10.01M
Normalized Net Income	199M	233M	315M	370M	364M
Interest on Long-Term Debt	111M	90.39M	68.36M	86.26M	104M
Supplemental Operating Expense Items
Net Rental Expense, Total	12.9M	11.7M	14.8M	18.9M	26.1M
Imputed Operating Lease Interest Expense	5.48M	3.71M	4.12M	6.75M	11.48M
Imputed Operating Lease Depreciation	7.42M	7.99M	10.68M	12.15M	14.62M
Stock-Based Comp., SG&A Exp. (Total)	192K	616K	-	-	-
Stock-Based Comp., Other (Total)	-	-	1.58M	3.19M	4.7M
Total Stock-Based Compensation	192K	616K	1.58M	3.19M	4.7M

Fiscal Period: June	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1B	829M	220M	373M	341M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	1B	829M	220M	373M	341M
Accounts Receivable, Total	869M	981M	1.3B	1.29B	1.3B
Other Receivables	46.55M	44.25M	49.38M	23.17M	36.7M
Total Receivables	916M	1.03B	1.34B	1.31B	1.34B
Inventory	968M	1.14B	1.53B	1.5B	1.5B
Prepaid Expenses	15.88M	18.82M	23.04M	25.87M	31.51M
Other Current Assets, Total	-	1.03M	6.72M	3.05M	-
Total Current Assets	2.9B	3.01B	3.12B	3.22B	3.21B
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	1.35B	1.26B	1.49B	1.59B	1.8B
Long-term Investments	73.95M	14.47M	21.33M	25.42M	22.98M
Goodwill	1.48B	1.37B	1.48B	1.52B	1.52B
Other Intangibles, Total	491M	414M	429M	497M	461M
Deferred Tax Assets Long-Term	49.81M	53.67M	63.87M	72.61M	79.9M
Total Assets	6.34B	6.12B	6.61B	6.92B	7.09B
Liabilities
Accounts Payable, Total	592M	688M	854M	786M	875M
Accrued Expenses, Total	66.7M	74.04M	90.37M	95.99M	101M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	48.4M	28.39M	-	-	-
Current Portion of Leases	81.94M	95.93M	119M	131M	136M
Current Income Taxes Payable	34.43M	32.3M	30.78M	11.44M	560K
Other Current Liabilities	252M	340M	366M	396M	367M
Total Current Liabilities	1.08B	1.26B	1.46B	1.42B	1.48B
Long-Term Debt	1.77B	1.33B	1.09B	1.1B	859M
Long-Term Leases	634M	574M	694M	733M	837M
Pension & Other Post Retirement Benefits	5.44M	4.96M	4.72M	6.06M	14.2M
Deferred Tax Liability Non Current	74.42M	47.98M	29.62M	23.82M	21.1M
Other Non Current Liabilities	31.41M	14.89M	8.01M	17.54M	-
Total Liabilities	3.59B	3.23B	3.29B	3.3B	3.21B
Common Stock, Total	1.25B	1.25B	1.25B	1.25B	1.25B
Retained Earnings	1.47B	1.68B	1.95B	2.19B	2.44B
Comprehensive Income and Other	30.33M	-39.52M	127M	192M	193M
Total Common Equity	2.75B	2.89B	3.32B	3.63B	3.88B
Total Equity	2.75B	2.89B	3.32B	3.63B	3.88B
Total Liabilities And Equity	6.34B	6.12B	6.61B	6.92B	7.09B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	646M	646M	646M	646M	646M
ECS Total Common Shares Outstanding	646M	646M	646M	646M	646M
Book Value / Share	4.26	4.47	5.14	5.61	6.01
Tangible Book Value	779M	1.11B	1.41B	1.6B	1.9B
Tangible Book Value Per Share	1.21	1.71	2.19	2.48	2.94
Total Debt	2.54B	2.03B	1.9B	1.96B	1.83B
Net Debt	1.53B	1.2B	1.68B	1.59B	1.49B
Debt Equivalent Oper. Leases	103M	93.6M	118M	151M	209M
Equity Method Investments, Total	-	14.47M	21.33M	-	-
Account Code - Inventory Valuation	5	5	6	6	6
Inventories - Finished Goods, Total	968M	1.14B	1.59B	1.6B	1.61B
Land - (BS)	-	-	-	-	-
Buildings, Total	-	-	-	-	-
Machinery, Total	-	-	-	-	-
Full Time Employees	8K	-	9K	9K	9K
Accumulated Allowance for Doubtful Accounts (Supple)	9.31M	11.08M	32.6M	49.1M	52.08M

Fiscal Period: June	2020	2021	2022	2023	2024
Net Income	229M	286M	392M	388M	419M
Depreciation & Amortization - CF	189M	184M	205M	227M	259M
Amortization of Goodwill and Intangible Assets - (CF)	43.78M	43.24M	51.27M	54.43M	50.35M
Depreciation & Amortization, Total	232M	228M	256M	282M	309M
Amortization of Deferred Charges, Total - (CF)	-	-	2.25M	8.07M	16.53M
(Gain) Loss From Sale Of Asset	-716K	-8M	-6.15M	-4.54M	-6.58M
Asset Writedown & Restructuring Costs	3.92M	-	-	28.95M	-
(Income) Loss On Equity Investments - (CF)	-	-	-	3.57M	3.84M
Stock-Based Compensation (CF)	192K	616K	1.58M	3.19M	4.7M
Other Operating Activities, Total	14.35M	46.98M	-1.33M	-441K	-210K
Change In Accounts Receivable	1.02M	-165M	-256M	48.6M	-35.28M
Change In Inventories	22.57M	-206M	-319M	86.15M	7.86M
Change In Accounts Payable	63.32M	215M	163M	-63.43M	59.41M
Change In Income Taxes	31.41M	-2.41M	4.25M	7.87M	-15.94M
Change In Deferred Taxes	3.44M	-22.34M	-29.94M	-27.67M	-9.93M
Change in Other Net Operating Assets	-	-	14.46M	6.63M	-1.54M
Cash from Operations	601M	372M	222M	766M	751M
Capital Expenditure	-83.33M	-69.61M	-184M	-152M	-236M
Sale of Property, Plant, and Equipment	8.38M	16.97M	12.18M	13.85M	15.91M
Cash Acquisitions	-177M	-12.25M	-93.06M	-146M	-1.9M
Sale (Purchase) of Intangible assets	-27.44M	-3.03M	-15.87M	-25.81M	-21.66M
Cash from Investing	-280M	-67.92M	-281M	-310M	-244M
Long-Term Debt Issued, Total	281M	-	1.08B	145M	439M
Total Debt Issued	281M	-	1.08B	145M	439M
Long-Term Debt Repaid, Total	-254M	-385M	-1.53B	-298M	-816M
Total Debt Repaid	-254M	-385M	-1.53B	-298M	-816M
Issuance of Common Stock	642M	-	-	-	-
Repurchase of Common Stock	-	-	-	-5.28M	-
Common Dividends Paid	-114M	-77.52M	-126M	-149M	-161M
Common & Preferred Stock Dividends Paid	-114M	-77.52M	-126M	-149M	-161M
Cash from Financing	556M	-462M	-575M	-307M	-539M
Foreign Exchange Rate Adjustments	-740K	-17.33M	25.37M	2.48M	531K
Net Change in Cash	877M	-176M	-608M	152M	-31.33M
Supplemental Items
Cash Interest Paid	85.4M	75.28M	63.83M	92.31M	104M
Cash Income Tax Paid (Refund)	89.74M	119M	144M	200M	194M
Levered Free Cash Flow	422M	306M	-139M	490M	463M
Unlevered Free Cash Flow	491M	362M	-96.28M	544M	528M
Change In Net Working Capital	-111M	94.66M	514M	-4.53M	-34.2M
Net Debt Issued / Repaid	27.78M	-385M	-449M	-153M	-377M

Fiscal Period: June	2020	2021	2022	2023	2024
Profitability
Return on Assets	4.78	4.84	5.62	6.27	6.01
Return on Total Capital	5.8	5.91	7.05	7.85	7.46
Return On Equity %	9.66	10.13	12.64	11.16	11.16
Return on Common Equity	9.66	10.13	12.64	11.16	11.16
Margin Analysis
Gross Profit Margin %	27.81	28.09	27.95	28.36	28.62
SG&A Margin	11.85	11.92	20.8	20.88	21.22
EBITDA Margin %	9.06	9.72	9.24	9.34	9.1
EBITA Margin %	7.62	8.38	8.14	8.29	7.96
EBIT Margin %	6.89	7.69	7.47	7.68	7.41
Income From Continuing Operations Margin %	3.81	4.55	5.13	4.38	4.6
Net Income Margin %	3.81	4.55	5.13	4.38	4.6
Net Avail. For Common Margin %	3.81	4.55	5.13	4.38	4.6
Normalized Net Income Margin	3.31	3.71	4.11	4.19	4
Levered Free Cash Flow Margin	7.02	4.88	-1.82	5.55	5.08
Unlevered Free Cash Flow Margin	8.18	5.78	-1.26	6.16	5.8
Asset Turnover
Asset Turnover	1.11	1.01	1.2	1.31	1.3
Fixed Assets Turnover	5.98	4.82	5.57	5.74	5.37
Receivables Turnover (Average Receivables)	7.19	6.78	6.73	6.84	7.03
Inventory Turnover (Average Inventory)	4.51	4.28	4.14	4.18	4.33
Short Term Liquidity
Current Ratio	2.7	2.39	2.14	2.27	2.17
Quick Ratio	1.79	1.47	1.07	1.19	1.14
Operating Cash Flow to Current Liabilities	0.56	0.3	0.15	0.54	0.51
Days Sales Outstanding (Average Receivables)	50.88	53.85	54.27	53.36	52.07
Days Outstanding Inventory (Average Inventory)	81.12	85.22	88.24	87.41	84.51
Average Days Payable Outstanding	47.03	49.93	47.66	47.44	46.83
Cash Conversion Cycle (Average Days)	84.97	89.14	94.84	93.33	89.75
Long Term Solvency
Total Debt/Equity	92.28	70.21	57.3	54.11	47.17
Total Debt / Total Capital	47.99	41.25	36.43	35.11	32.05
LT Debt/Equity	87.54	65.9	53.73	50.49	43.68
Long-Term Debt / Total Capital	45.53	38.72	34.16	32.76	29.68
Total Liabilities / Total Assets	56.65	52.79	49.74	47.64	45.25
EBIT / Interest Expense	3.73	5.33	8.37	7.87	6.47
EBITDA / Interest Expense	5.83	7.85	12.11	11.13	9.43
(EBITDA - Capex) / Interest Expense	5.08	7.08	9.42	9.37	7.16
Total Debt / EBITDA	3.93	2.86	2.3	2.04	1.86
Net Debt / EBITDA	2.37	1.69	2.03	1.65	1.52