Cash flow Smiths Group plc

Equities

SMIN

GB00B1WY2338

Consumer Goods Conglomerates

Real-time Estimate Cboe Europe Other stock markets 14:11:00 03/12/2024 GMT			5-day change	1st Jan Change
1,772.50 ^GBX	+0.37%		+0.51%	+0.54%

11-28	Citigroup Kicks Off Smiths Group's Coverage at Buy	MT
11-28	JPMorgan double upgrades Tesco and Sainsbury's	AN

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Published financial data: SMITHS GROUP PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: July	2020	2021	2022	2023	2024
Revenues	2.55B	2.41B	2.57B	3.04B	3.13B
Total Revenues	2.55B	2.41B	2.57B	3.04B	3.13B
Cost of Goods Sold, Total	1.56B	1.49B	1.6B	1.92B	1.96B
Gross Profit	989M	915M	961M	1.12B	1.17B
Selling General & Admin Expenses, Total	712M	574M	623M	678M	724M
R&D Expenses	-	-	-	-	-2M
Other Operating Expenses, Total	712M	574M	623M	678M	722M
Operating Income	277M	341M	338M	440M	446M
Interest Expense, Total	-55M	-49M	-55M	-85M	-64M
Interest And Investment Income	6M	9M	14M	36M	26M
Net Interest Expenses	-49M	-40M	-41M	-49M	-38M
Currency Exchange Gains (Loss)	-66M	-50M	19M	-1M	-2M
Other Non Operating Income (Expenses)	5M	-	3M	7M	-
EBT, Excl. Unusual Items	167M	251M	319M	397M	406M
Restructuring Charges	-	-	-	-36M	-
Merger & Related Restructuring Charges	-7M	-2M	-5M	-1M	-8M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	1M	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-
Legal Settlements	-34M	-2M	-3M	-7M	-9M
Other Unusual Items	7M	-7M	-209M	7M	-17M
EBT, Incl. Unusual Items	133M	240M	103M	360M	372M
Income Tax Expense	66M	83M	90M	134M	121M
Earnings From Continuing Operations	67M	157M	13M	226M	251M
Earnings Of Discontinued Operations	200M	128M	1.02B	6M	-
Net Income to Company	267M	285M	1.04B	232M	251M
Minority Interest	-2M	-1M	-2M	-1M	-1M
Net Income - (IS)	265M	284M	1.03B	231M	250M
Net Income to Common Incl Extra Items	265M	284M	1.03B	231M	250M
Net Income to Common Excl. Extra Items	65M	156M	11M	225M	250M
Per Share Items
Net EPS - Basic	0.67	0.72	2.67	0.65	0.72
Basic EPS - Continuing Operations	0.16	0.39	0.03	0.64	0.72
Basic Weighted Average Shares Outstanding	396M	396M	387M	353M	346M
Net EPS - Diluted	0.66	0.71	2.66	0.65	0.72
Diluted EPS - Continuing Operations	0.16	0.39	0.03	0.63	0.72
Diluted Weighted Average Shares Outstanding	399M	399M	388M	355M	347M
Normalized Basic EPS	0.26	0.39	0.51	0.7	0.73
Normalized Diluted EPS	0.26	0.39	0.51	0.7	0.73
Dividend Per Share	0.35	0.38	0.4	0.42	0.44
Payout Ratio	47.55	65.14	14.52	61.9	58.8
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	375M	434M	427M	534M	540M
EBITA	334M	394M	389M	492M	495M
EBIT	277M	341M	338M	440M	446M
EBITDAR	376M	435M	430M	536M	541M
Effective Tax Rate - (Ratio)	49.62	34.58	87.38	37.22	32.53
Total Current Taxes	79M	78M	73M	105M	115M
Total Deferred Taxes	-13M	5M	17M	29M	6M
Normalized Net Income	102M	156M	197M	247M	253M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	38M	36M	34M	21M	17M
Non-Cash Pension Expense	-10M	5M	211M	-5M	7M
Supplemental Operating Expense Items
Selling and Marketing Expenses	270M	188M	200M	221M	219M
General and Administrative Expenses	448M	392M	430M	464M	511M
Research And Development Expense From Footnotes	132M	103M	108M	105M	107M
Net Rental Expense, Total	1M	1M	3M	2M	1M
Imputed Operating Lease Interest Expense	286K	256K	989K	1.45M	762K
Imputed Operating Lease Depreciation	714K	744K	2.01M	552K	238K
Stock-Based Comp., Other (Total)	10M	13M	13M	13M	13M
Total Stock-Based Compensation	10M	13M	13M	13M	13M

Fiscal Period: July	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	366M	405M	1.06B	285M	459M
Total Cash And Short Term Investments	366M	405M	1.06B	285M	459M
Accounts Receivable, Total	571M	562M	633M	614M	667M
Other Receivables	79M	117M	122M	165M	125M
Total Receivables	650M	679M	755M	779M	792M
Inventory	446M	381M	570M	637M	643M
Prepaid Expenses	23M	26M	33M	40M	58M
Other Current Assets, Total	1.28B	1.24B	4M	5M	4M
Total Current Assets	2.77B	2.74B	2.42B	1.75B	1.96B
Gross Property Plant And Equipment	816M	846M	958M	980M	1.04B
Accumulated Depreciation	-504M	-526M	-609M	-628M	-661M
Net Property Plant And Equipment	312M	320M	349M	352M	380M
Long-term Investments	8M	7M	391M	354M	52M
Goodwill	1.19B	1.15B	1.24B	1.21B	1.21B
Other Intangibles, Total	329M	308M	293M	243M	228M
Accounts Receivable Long-Term	46M	49M	59M	67M	86M
Deferred Tax Assets Long-Term	102M	92M	95M	95M	94M
Deferred Charges Long-Term	43M	42M	51M	69M	80M
Other Long-Term Assets, Total	615M	635M	323M	220M	143M
Total Assets	5.41B	5.34B	5.22B	4.36B	4.23B
Liabilities
Accounts Payable, Total	178M	188M	282M	247M	274M
Accrued Expenses, Total	219M	216M	213M	266M	264M
Short-term Borrowings	-	-	1M	-	2M
Current Portion of Long-Term Debt	10M	9M	508M	3M	-
Current Portion of Leases	31M	27M	29M	26M	32M
Current Income Taxes Payable	79M	89M	64M	74M	70M
Unearned Revenue Current, Total	118M	87M	130M	159M	191M
Other Current Liabilities	366M	371M	172M	123M	114M
Total Current Liabilities	1B	987M	1.4B	898M	947M
Long-Term Debt	1.46B	1.37B	538M	552M	547M
Long-Term Leases	65M	94M	90M	91M	91M
Unearned Revenue Non Current	36M	46M	33M	27M	26M
Pension & Other Post Retirement Benefits	139M	128M	115M	106M	103M
Deferred Tax Liability Non Current	27M	28M	44M	43M	32M
Other Non Current Liabilities	296M	259M	283M	232M	234M
Total Liabilities	3.02B	2.91B	2.5B	1.95B	1.98B
Common Stock, Total	149M	149M	136M	131M	130M
Additional Paid In Capital	361M	363M	365M	365M	365M
Retained Earnings	1.26B	1.37B	1.66B	1.43B	1.31B
Comprehensive Income and Other	604M	523M	539M	457M	429M
Total Common Equity	2.37B	2.4B	2.7B	2.38B	2.23B
Minority Interest	21M	21M	22M	22M	22M
Total Equity	2.39B	2.42B	2.72B	2.41B	2.25B
Total Liabilities And Equity	5.41B	5.34B	5.22B	4.36B	4.23B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	396M	396M	362M	348M	344M
ECS Total Common Shares Outstanding	396M	396M	362M	348M	344M
Book Value / Share	5.99	6.06	7.46	6.86	6.49
Tangible Book Value	852M	946M	1.16B	932M	789M
Tangible Book Value Per Share	2.15	2.39	3.21	2.68	2.3
Total Debt	1.56B	1.5B	1.17B	672M	672M
Net Debt	1.2B	1.1B	110M	387M	213M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-381M	-413M	-214M	-105M	-40M
Debt Equivalent Oper. Leases	8M	8M	24M	16M	8M
Minority Interest, Total (Incl. Fin. Div)	21M	21M	22M	22M	22M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	122M	117M	187M	201M	192M
Inventories - Work In Process, Total	119M	81M	106M	130M	148M
Inventories - Finished Goods, Total	205M	183M	277M	306M	303M
Inventories - Others	-	-	-	-	-
Land - (BS)	175M	172M	176M	178M	181M
Machinery, Total	516M	510M	586M	583M	610M
Full Time Employees	14K	14.5K	14.76K	15.16K	15.75K
Accumulated Allowance for Doubtful Accounts (Supple)	-	32M	36M	30M	29M

Fiscal Period: July	2020	2021	2022	2023	2024
Net Income	265M	326M	117M	403M	250M
Depreciation & Amortization - CF	74M	72M	68M	74M	79M
Amortization of Goodwill and Intangible Assets - (CF)	57M	53M	51M	52M	49M
Depreciation & Amortization, Total	131M	125M	119M	126M	128M
Amortization of Deferred Charges, Total - (CF)	13M	14M	10M	9M	7M
(Gain) Loss From Sale Of Asset	2M	1M	-2M	-	1M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	9M
Asset Writedown & Restructuring Costs	12M	59M	4M	-	-
Stock-Based Compensation (CF)	10M	13M	13M	13M	13M
Net Cash From Discontinued Operations	161M	98M	33M	6M	-
Other Operating Activities, Total	-220M	-163M	87M	-127M	47M
Change In Accounts Receivable	80M	-10M	-83M	-63M	-81M
Change In Inventories	-73M	66M	-169M	-89M	-4M
Change In Accounts Payable	47M	36M	129M	49M	50M
Change in Other Net Operating Assets	1M	-30M	21M	-34M	-2M
Cash from Operations	429M	535M	279M	293M	418M
Capital Expenditure	-61M	-78M	-58M	-53M	-68M
Sale of Property, Plant, and Equipment	1M	2M	3M	2M	-
Cash Acquisitions	-24M	-83M	-	-22M	-65M
Divestitures	-	-	1.33B	-7M	-
Sale (Purchase) of Intangible assets	-49M	-39M	-30M	-28M	-18M
Investment in Marketable and Equity Securities, Total	-	7M	-	-	190M
Other Investing Activities, Total	-11M	-14M	-	-	-
Cash from Investing	-144M	-205M	1.25B	-108M	39M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-47M	-44M	-333M	-563M	-39M
Total Debt Repaid	-47M	-44M	-333M	-563M	-39M
Issuance of Common Stock	2M	2M	3M	-	4M
Repurchase of Common Stock	-18M	-16M	-527M	-231M	-90M
Common Dividends Paid	-126M	-185M	-150M	-143M	-147M
Common & Preferred Stock Dividends Paid	-126M	-185M	-150M	-143M	-147M
Other Financing Activities, Total	1M	4M	22M	-8M	3M
Cash from Financing	-188M	-239M	-985M	-945M	-269M
Foreign Exchange Rate Adjustments	-26M	-24M	62M	-10M	-14M
Miscellaneous Cash Flow Adjustments	6M	-28M	48M	-	-
Net Change in Cash	77M	39M	650M	-770M	174M
Supplemental Items
Cash Interest Paid	57M	40M	51M	75M	57M
Cash Income Tax Paid (Refund)	113M	109M	88M	92M	99M
Levered Free Cash Flow	245M	278M	1.11B	218M	309M
Unlevered Free Cash Flow	279M	308M	1.14B	271M	349M
Change In Net Working Capital	-62M	-60M	-879M	71M	-8M
Net Debt Issued / Repaid	-47M	-44M	-333M	-563M	-39M

Fiscal Period: July	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.23	3.97	4	5.74	6.47
Return on Total Capital	4.41	5.41	5.41	7.85	9.29
Return On Equity %	2.81	6.52	0.51	8.82	10.78
Return on Common Equity	2.75	6.53	0.43	8.85	10.84
Margin Analysis
Gross Profit Margin %	38.81	38.03	37.45	36.81	37.29
SG&A Margin	27.94	23.86	24.28	22.32	23.12
EBITDA Margin %	14.72	18.04	16.64	17.58	17.24
EBITA Margin %	13.11	16.38	15.16	16.2	15.8
EBIT Margin %	10.87	14.17	13.17	14.49	14.24
Income From Continuing Operations Margin %	2.63	6.53	0.51	7.44	8.01
Net Income Margin %	10.4	11.8	40.26	7.61	7.98
Net Avail. For Common Margin %	2.55	6.48	0.43	7.41	7.98
Normalized Net Income Margin	4.02	6.48	7.69	8.14	8.07
Levered Free Cash Flow Margin	9.61	11.53	43.25	7.17	9.86
Unlevered Free Cash Flow Margin	10.95	12.81	44.59	8.92	11.14
Asset Turnover
Asset Turnover	0.47	0.45	0.49	0.63	0.73
Fixed Assets Turnover	9.37	7.61	7.67	8.66	8.56
Receivables Turnover (Average Receivables)	4.01	4.25	4.29	4.87	4.89
Inventory Turnover (Average Inventory)	3.61	3.61	3.38	3.18	3.07
Short Term Liquidity
Current Ratio	2.76	2.77	1.73	1.94	2.07
Quick Ratio	1.01	1.1	1.29	1.18	1.32
Operating Cash Flow to Current Liabilities	0.43	0.54	0.2	0.33	0.44
Days Sales Outstanding (Average Receivables)	91.21	85.94	84.99	74.93	74.85
Days Outstanding Inventory (Average Inventory)	101.3	101.23	108.14	114.79	119.27
Average Days Payable Outstanding	45.98	46.84	47.81	48.61	48.4
Cash Conversion Cycle (Average Days)	146.53	140.33	145.31	141.11	145.72
Long Term Solvency
Total Debt/Equity	65.2	61.99	42.85	27.93	29.84
Total Debt / Total Capital	39.47	38.27	30	21.83	22.98
LT Debt/Equity	63.49	60.5	23.08	26.72	28.33
Long-Term Debt / Total Capital