Cash flow Rentokil Initial plc

Equities

RTO

GB00B082RF11

Business Support Services

Market Closed - London S.E. Other stock markets 16:35:05 06/09/2024 BST			5-day change	1st Jan Change
467.40 ^GBX	-0.83%		-3.23%	+6.03%

09-05	Siemens Energy resumes sales of its troubled 4.X onshore wind turbine	RE
08-30	Barclays raises Rolls-Royce price target	AN

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Published financial data: RENTOKIL INITIAL PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.71B	2.82B	2.96B	3.71B	5.38B
Total Revenues	2.71B	2.82B	2.96B	3.71B	5.38B
Cost of Goods Sold, Total	568M	606M	589M	721M	927M
Gross Profit	2.15B	2.22B	2.37B	2.99B	4.45B
Selling General & Admin Expenses, Total	1.52B	1.49B	1.61B	2B	2.87B
R&D Expenses	-	-	-	-	-
Depreciation & Amortization - (IS)	127M	132M	128M	140M	154M
Amortization of Goodwill and Intangible Assets - (IS)	93.8M	88M	89.4M	118M	197M
Other Operating Expenses	115M	175M	173M	258M	500M
Other Operating Expenses, Total	1.85B	1.89B	2B	2.52B	3.72B
Operating Income	294M	329M	369M	475M	727M
Interest Expense, Total	-54.3M	-48.6M	-33.3M	-74M	-175M
Interest And Investment Income	13.3M	9.7M	1M	5M	25M
Net Interest Expenses	-41M	-38.9M	-32.3M	-69M	-150M
Income (Loss) On Equity Invest.	15.2M	8.3M	8.1M	9M	9M
Currency Exchange Gains (Loss)	-	-7.6M	-	-	11M
Other Non Operating Income (Expenses)	-5.8M	-22.2M	-400K	17M	-13M
EBT, Excl. Unusual Items	262M	268M	344M	432M	584M
Restructuring Charges	-7.7M	-13.2M	-	-	-
Merger & Related Restructuring Charges	-25.2M	-14.7M	-13.3M	-135M	-95M
Impairment of Goodwill	-4.4M	-10.6M	-200K	-22M	-3M
Gain (Loss) On Sale Of Assets	104M	2M	-	-	-
Asset Writedown	-600K	-2.8M	-1.5M	-	-1M
Legal Settlements	-	-	-	-	-
Other Unusual Items	10.6M	900K	-4.2M	21M	8M
EBT, Incl. Unusual Items	338M	230M	325M	296M	493M
Income Tax Expense	54.7M	43.5M	61.9M	64M	112M
Earnings From Continuing Operations	284M	186M	263M	232M	381M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	284M	186M	263M	232M	381M
Minority Interest	-	-	-	-	-
Net Income - (IS)	284M	186M	263M	232M	381M
Net Income to Common Incl Extra Items	284M	186M	263M	232M	381M
Net Income to Common Excl. Extra Items	284M	186M	263M	232M	381M
Per Share Items
Net EPS - Basic	0.15	0.1	0.14	0.12	0.15
Basic EPS - Continuing Operations	0.15	0.1	0.14	0.12	0.15
Basic Weighted Average Shares Outstanding	1.85B	1.85B	1.86B	2B	2.52B
Net EPS - Diluted	0.15	0.1	0.14	0.12	0.15
Diluted EPS - Continuing Operations	0.15	0.1	0.14	0.12	0.15
Diluted Weighted Average Shares Outstanding	1.86B	1.86B	1.87B	2.01B	2.53B
Normalized Basic EPS	0.09	0.09	0.12	0.13	0.15
Normalized Diluted EPS	0.09	0.09	0.12	0.13	0.14
Dividend Per Share	0.02	0.05	0.06	0.08	0.09
Payout Ratio	30.23	-	52.7	52.59	52.76
American Depositary Receipts Ratio (ADR)	5	5	5	5	5
Supplemental Items
EBITDA	496M	526M	566M	706M	1.04B
EBITA	369M	394M	438M	566M	891M
EBIT	294M	329M	369M	475M	727M
EBITDAR	512M	542M	586M	727M	1.07B
Effective Tax Rate - (Ratio)	16.16	18.93	19.04	21.62	22.72
Total Current Taxes	58.7M	66.6M	54M	78M	86M
Total Deferred Taxes	-4M	-23.1M	7.9M	-14M	26M
Normalized Net Income	164M	168M	215M	270M	365M
Interest on Long-Term Debt	35.5M	27.8M	17M	50M	89M
Non-Cash Pension Expense	-19.6M	-7M	-3.2M	-2M	0
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	5.6M	6.8M	5.4M	5M	7M
Net Rental Expense, Total	16M	16.8M	19.6M	21M	24M
Imputed Operating Lease Interest Expense	5.29M	2.3M	2.06M	3.34M	6.56M
Imputed Operating Lease Depreciation	10.71M	14.5M	17.54M	17.66M	17.44M
Stock-Based Comp., COGS (Total)	2.6M	2.7M	3.3M	17M	27M
Total Stock-Based Compensation	2.6M	2.7M	3.3M	17M	27M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	310M	2.23B	668M	2.17B	1.56B
Short Term Investments	1.7M	172M	1.6M	1M	1M
Trading Asset Securities, Total	100K	-	-	-	14M
Total Cash And Short Term Investments	311M	2.4B	670M	2.17B	1.58B
Accounts Receivable, Total	435M	484M	443M	832M	880M
Other Receivables	42.8M	46.3M	56.7M	36M	33M
Total Receivables	478M	530M	500M	868M	913M
Inventory	106M	131M	136M	200M	207M
Prepaid Expenses	30.1M	29.3M	35.4M	-	-
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	100K	5.6M	2.5M	-	-
Total Current Assets	926M	3.09B	1.34B	3.24B	2.7B
Gross Property Plant And Equipment	1.15B	1.21B	1.23B	1.64B	1.66B
Accumulated Depreciation	-533M	-595M	-605M	-689M	-708M
Net Property Plant And Equipment	613M	620M	626M	949M	951M
Long-term Investments	37.6M	64.4M	29.9M	97M	122M
Goodwill	1.34B	1.61B	1.84B	5.12B	5.02B
Other Intangibles, Total	317M	301M	306M	2.18B	2B
Accounts Receivable Long-Term	-	-	-	90M	45M
Deferred Tax Assets Long-Term	29.3M	37.7M	41.6M	43M	43M
Deferred Charges Long-Term	79.1M	80.4M	88.6M	200M	245M
Other Long-Term Assets, Total	50.1M	32.1M	43.1M	3M	3M
Total Assets	3.39B	5.84B	4.32B	11.92B	11.13B
Liabilities
Accounts Payable, Total	188M	182M	165M	351M	357M
Accrued Expenses, Total	233M	301M	326M	425M	417M
Short-term Borrowings	35.7M	1.67B	426M	1.29B	730M
Current Portion of Long-Term Debt	48.9M	172M	32.8M	64M	436M
Current Portion of Leases	72M	72.7M	77.8M	135M	127M
Current Income Taxes Payable	72.9M	80M	60.5M	60M	48M
Unearned Revenue Current, Total	145M	159M	166M	259M	254M
Other Current Liabilities	120M	316M	135M	260M	210M
Total Current Liabilities	916M	2.96B	1.39B	2.84B	2.58B
Long-Term Debt	1.06B	1.37B	1.26B	3.67B	3.17B
Long-Term Leases	145M	142M	139M	332M	318M
Pension & Other Post Retirement Benefits	37.5M	38.8M	27.3M	30M	28M
Deferred Tax Liability Non Current	111M	94.7M	108M	511M	517M
Other Non Current Liabilities	124M	102M	139M	440M	428M
Total Liabilities	2.39B	4.71B	3.06B	7.82B	7.04B
Common Stock, Total	18.5M	18.5M	18.6M	25M	25M
Additional Paid In Capital	6.8M	6.8M	6.8M	9M	14M
Retained Earnings	2.85B	3.04B	3.17B	3.3B	3.52B
Comprehensive Income and Other	-1.88B	-1.94B	-1.93B	763M	532M
Total Common Equity	1B	1.13B	1.26B	4.1B	4.09B
Minority Interest	600K	900K	-500K	-1M	-1M
Total Equity	1B	1.13B	1.26B	4.1B	4.09B
Total Liabilities And Equity	3.39B	5.84B	4.32B	11.92B	11.13B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.84B	1.85B	1.85B	2.5B	2.51B
ECS Total Common Shares Outstanding	1.84B	1.85B	1.85B	2.5B	2.51B
Book Value / Share	0.54	0.61	0.68	1.64	1.63
Tangible Book Value	-658M	-780M	-886M	-3.2B	-2.93B
Tangible Book Value Per Share	-0.36	-0.42	-0.48	-1.28	-1.17
Total Debt	1.36B	3.43B	1.93B	5.49B	4.78B
Net Debt	1.05B	1.04B	1.26B	3.32B	3.2B
Debt Equivalent of Unfunded Proj. Benefit Obligation	100K	19.8M	8.3M	27M	25M
Debt Equivalent Oper. Leases	128M	134M	157M	168M	192M
Minority Interest, Total (Incl. Fin. Div)	600K	900K	-500K	-1M	-1M
Equity Method Investments, Total	29.7M	27.2M	29.7M	53M	44M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	8.4M	10.8M	12.5M	15M	15M
Inventories - Work In Process, Total	1.5M	1.8M	2M	2M	3M
Inventories - Finished Goods, Total	96.6M	119M	121M	183M	189M
Land - (BS)	84.1M	87.3M	87.5M	127M	122M
Machinery, Total	840M	910M	916M	1.06B	1.08B
Full Time Employees	43K	44.5K	46K	58.6K	62.93K
Accumulated Allowance for Doubtful Accounts (Supple)	28.4M	61.4M	49.2M	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	284M	186M	263M	232M	381M
Depreciation & Amortization - CF	206M	210M	207M	229M	274M
Amortization of Goodwill and Intangible Assets - (CF)	75.2M	65.1M	68.7M	91M	164M
Depreciation & Amortization, Total	281M	275M	276M	320M	438M
Amortization of Deferred Charges, Total - (CF)	19.2M	23.4M	20.8M	27M	33M
(Gain) Loss From Sale Of Asset	-104M	-	-	-	-
Asset Writedown & Restructuring Costs	4.4M	12.9M	1.6M	47M	4M
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	-	-	-	-	-
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-11.1M	1M	-16.7M	-23M	4M
Change In Accounts Receivable	-38.2M	-20.1M	58.7M	37M	-29M
Change In Inventories	-3.6M	-23.3M	-3.2M	-4M	-15M
Change In Accounts Payable	20.2M	78.2M	-43M	-75M	-60M
Change in Unearned Revenues	16.9M	12.7M	11.1M	81M	-
Change in Other Net Operating Assets	-6.3M	-1.9M	-4.8M	-42M	-19M
Cash from Operations	463M	544M	563M	600M	737M
Capital Expenditure	-140M	-130M	-128M	-153M	-167M
Sale of Property, Plant, and Equipment	3.2M	6.3M	7.4M	5M	14M
Cash Acquisitions	-316M	-195M	-463M	-1.02B	-242M
Divestitures	392M	2.2M	-	1M	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-30.8M	-22.6M	-32.1M	-37M	-44M
Investment in Marketable and Equity Securities, Total	-	-	171M	1M	19M
Other Investing Activities, Total	30.4M	11.7M	3.9M	4M	4M
Cash from Investing	-61.1M	-327M	-441M	-1.2B	-416M
Long-Term Debt Issued, Total	434M	1.69B	4.7M	2.38B	-
Total Debt Issued	434M	1.69B	4.7M	2.38B	-
Long-Term Debt Repaid, Total	-558M	-1.44B	-255M	-948M	-157M
Total Debt Repaid	-558M	-1.44B	-255M	-948M	-157M
Common Dividends Paid	-85.8M	-	-139M	-122M	-201M
Common & Preferred Stock Dividends Paid	-85.8M	-	-139M	-122M	-201M
Other Financing Activities, Total	-11M	-194M	-28.5M	10M	-3M
Cash from Financing	-221M	62.2M	-417M	1.32B	-361M
Foreign Exchange Rate Adjustments	-7.5M	-2.5M	-13.9M	-89M	-7M
Net Change in Cash	173M	277M	-309M	637M	-47M
Supplemental Items
Cash Interest Paid	58.9M	48.6M	41.6M	52M	191M
Cash Income Tax Paid (Refund)	43.2M	64.4M	68.9M	77M	100M
Levered Free Cash Flow	313M	521M	207M	532M	505M
Unlevered Free Cash Flow	347M	552M	228M	578M	614M
Change In Net Working Capital	-31M	-198M	143M	-107M	127M
Net Debt Issued / Repaid	-124M	256M	-250M	1.44B	-157M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.67	4.07	4.65	3.65	3.94
Return on Total Capital	8.23	5.25	6.17	4.63	4.93
Return On Equity %	30.93	17.47	21.98	8.65	9.31
Return on Common Equity	30.95	17.48	21.99	8.65	9.31
Margin Analysis
Gross Profit Margin %	79.06	78.52	80.07	80.59	82.75
SG&A Margin	55.85	52.88	54.37	53.9	53.4
EBITDA Margin %	18.28	18.62	19.14	19.01	19.44
EBITA Margin %	13.59	13.94	14.8	15.24	16.58
EBIT Margin %	10.82	11.64	12.48	12.79	13.53
Income From Continuing Operations Margin %	10.46	6.6	8.9	6.25	7.09
Net Income Margin %	10.46	6.6	8.9	6.25	7.09
Net Avail. For Common Margin %