Financials Rentokil Initial plc

Equities

RTO

GB00B082RF11

Business Support Services

Market Closed - London S.E. Other stock markets 16:35:04 13/09/2024 BST			5-day change	1st Jan Change
378.00 ^GBX	+1.61%		-19.13%	-14.25%

09-13	Analyst recommendations: Oracle, McDonald's, S&P Global, Adobe...
09-13	Stifel Downgrades Rentokil to Hold, Cuts PT	MT

Projected Income Statement: Rentokil Initial plc

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,714	2,824	2,957	3,714	5,375	5,437	5,617	5,881
Change	-	4.02%	4.71%	25.62%	44.72%	1.15%	3.32%	4.7%
EBITDA ¹	596.7	616.2	654.1	847	1,228	1,191	1,278	1,387
Change	-	3.27%	6.15%	29.49%	44.98%	-3.03%	7.36%	8.48%
EBIT ¹	365.4	384	441.5	571	898	870	945.7	1,041
Change	-	5.09%	14.97%	29.33%	57.27%	-3.12%	8.7%	10.12%
Interest Paid ¹	-42.1	-37.1	-33.1	-74	-141	-141.7	-138.8	-133.5
Earnings before Tax (EBT) ¹	338.5	229.8	325.1	296	493	456.5	609.8	710.9
Change	-	-32.11%	41.47%	-8.95%	66.55%	-7.4%	33.58%	16.58%
Net income ¹	283.5	185.9	263.2	232	381	343.8	452.3	531.8
Change	-	-34.43%	41.58%	-11.85%	64.22%	-9.77%	31.57%	17.58%
Announcement Date	27/02/20	04/03/21	03/03/22	16/03/23	07/03/24	-	-	-

¹GBP in Million

Estimates

Fiscal Period: December	2021 Q2	2022 Q1	2022 Q2
Net sales ¹	731.4	786	786
Change	-	7.48%	0%
EBITDA	-	-	-
Change	-	-	-
EBIT ¹	87.65	-	98.75
Change	-	-100%	-
Charge d'intérêts	-	-	-
Earnings before Tax (EBT)	-	-	-
Change	-	-	-
Net income	-	-	-
Change	-	-	-
Announcement Date	29/07/21	21/04/22	28/07/22

¹GBP in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	1,291	1,532	1,463	1,494	1,572	2,142	2,671	2,704	2,706	2,718	2,730	2,806
Change	-	18.71%	-4.55%	2.13%	5.23%	36.25%	24.7%	1.24%	0.07%	0.44%	0.45%	2.78%
EBITDA ¹	-	-	-	-	-	500.8	602	-	611	583	-	-
Change	-	-	-	-	-	-	20.21%	-100%	-	-4.58%	-100%	-
EBIT ¹	139	-	208.6	-	-	338.5	437	-	445	380	-	-
Change	-	-100%	-	-100%	-	-	29.1%	-100%	-	-14.61%	-100%	-
Charge d'intérêts ¹	-	-	-	-	-	-56.6	-88	-	-96	-68	-	-
Earnings before Tax (EBT) ¹	-	-	-	-	-	134.1	240	-	253	229	-	-
Change	-	-	-	-	-	-	78.97%	-100%	-	-9.49%	-100%	-
Net income ¹	-	-	-	-	-	107.8	185	-	196	165	-	-
Change	-	-	-	-	-	-	71.61%	-100%	-	-15.82%	-100%	-
Announcement Date	30/07/20	04/03/21	29/07/21	03/03/22	28/07/22	16/03/23	27/07/23	07/03/24	25/07/24	-	-	-

¹GBP in Million

Estimates

Forecast Balance Sheet: Rentokil Initial plc

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,073	1,001	1,262	3,225	3,169	3,115	2,845	2,506
Change	-	-6.71%	26.07%	155.55%	-1.74%	-1.7%	-8.67%	-11.92%
Announcement Date	27/02/20	04/03/21	03/03/22	16/03/23	07/03/24	-	-	-

¹GBP in Million

Estimates

Cash Flow Forecast: Rentokil Initial plc

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	167.7	146.2	152.5	185	197	251.2	255.7	269.8
Change	-	-12.82%	4.31%	21.31%	6.49%	27.53%	1.77%	5.53%
Free Cash Flow (FCF) ¹	250.7	336.8	326.5	415	500	435.7	578.4	666.1
Change	-	34.34%	-3.06%	27.11%	20.48%	-12.86%	32.75%	15.17%
Announcement Date	27/02/20	04/03/21	03/03/22	16/03/23	07/03/24	-	-	-

¹GBP in Million

Estimates

Forecast Financial Ratios: Rentokil Initial plc

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	21.98%	21.82%	22.12%	22.81%	22.85%	21.9%	22.76%	23.58%
EBIT Margin (%)	13.46%	13.6%	14.93%	15.37%	16.71%	16%	16.84%	17.71%
EBT Margin (%)	12.47%	8.14%	11%	7.97%	9.17%	8.4%	10.86%	12.09%
Net margin (%)	10.44%	6.58%	8.9%	6.25%	7.09%	6.32%	8.05%	9.04%
FCF margin (%)	9.24%	11.93%	11.04%	11.17%	9.3%	8.01%	10.3%	11.33%
FCF / Net Income (%)	88.43%	181.17%	124.05%	178.88%	131.23%	126.74%	127.88%	125.26%
Profitability
ROA	8.76%	5.65%	5.31%	2.86%	5.06%	4.39%	5.13%	5.74%
ROE	29.1%	26.73%	28.04%	8.65%	14.26%	13.22%	13.86%	14.87%
Financial Health
Leverage (Debt/EBITDA)	1.8x	1.62x	1.93x	3.81x	2.58x	2.62x	2.23x	1.81x
Debt / Free cash flow	4.28x	2.97x	3.87x	7.77x	6.34x	7.15x	4.92x	3.76x
Capital Intensity
CAPEX / Current Assets (%)	6.18%	5.18%	5.16%	4.98%	3.67%	4.62%	4.55%	4.59%
CAPEX / EBITDA (%)	28.1%	23.73%	23.31%	21.84%	16.04%	21.1%	20%	19.46%
CAPEX / FCF (%)	66.89%	43.41%	46.71%	44.58%	39.4%	57.67%	44.21%	40.51%
Items per share
Cash flow per share ¹	0.2488	0.2921	0.3018	0.2979	0.2917	0.2603	0.3206	0.3438
Change	-	17.42%	3.31%	-1.29%	-2.08%	-10.76%	23.15%	7.23%
Dividend per Share ¹	0.0515	0.0541	0.0639	0.0755	0.0868	0.0884	0.0959	0.104
Change	-	5.05%	18.11%	18.15%	14.97%	1.84%	8.47%	8.44%
Book Value Per Share ¹	0.5418	0.6092	0.6802	1.63	1.618	1.687	1.774	1.889
Change	-	12.44%	11.65%	139.64%	-0.73%	4.27%	5.16%	6.48%
EPS ¹	0.1524	0.0998	0.141	0.1151	0.1507	0.1427	0.1736	0.2092
Change	-	-34.51%	41.28%	-18.37%	30.93%	-5.33%	21.71%	20.51%
Nbr of stocks (in thousands)	1,841,133	1,846,633	1,851,633	2,510,640	2,502,940	2,511,540	2,511,540	2,511,540
Announcement Date	27/02/20	04/03/21	03/03/22	16/03/23	07/03/24	-	-	-