Financials Tate & Lyle plc

Equities

TATE

GB00BP92CJ43

Food Processing

Real-time Estimate Cboe Europe 11:59:28 17/06/2024 BST 5-day change 1st Jan Change
674.5 GBX +0.07% Intraday chart for Tate & Lyle plc -1.10% +2.28%

Valuation

Fiscal Period: Marzo 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 3,043 3,554 3,401 3,124 2,456 2,670 - -
Enterprise Value (EV) 1 3,494 3,971 4,027 3,362 2,456 2,795 2,721 2,569
P/E ratio 12.6 x 14.3 x 17 x 17 x 13.3 x 14.3 x 13.1 x 11.9 x
Yield 4.51% 4.01% 2.55% 2.36% - 3.08% 3.28% 3.41%
Capitalization / Revenue 1.06 x 1.27 x 2.47 x 1.78 x 1.49 x 1.66 x 1.59 x 1.54 x
EV / Revenue 1.21 x 1.41 x 2.93 x 1.92 x 1.49 x 1.74 x 1.62 x 1.48 x
EV / EBITDA 7.1 x 7.88 x 8.57 x 10.5 x 7.49 x 8.07 x 7.36 x 6.42 x
EV / FCF 16 x 18.3 x -89.5 x -280 x - 13.3 x 14.1 x 13.4 x
FCF Yield 6.27% 5.46% -1.12% -0.36% - 7.52% 7.08% 7.47%
Price to Book 2.18 x 2.44 x 2.45 x 2.67 x - 2.08 x 1.88 x 1.82 x
Nbr of stocks (in thousands) 397,659 397,116 398,170 398,150 397,704 396,150 - -
Reference price 2 7.653 8.951 8.542 7.846 6.175 6.740 6.740 6.740
Announcement Date 21/05/20 27/05/21 09/06/22 25/05/23 23/05/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 2,882 2,807 1,375 1,751 1,647 1,605 1,675 1,738
EBITDA 1 492 504 470 320 328 346.3 369.7 400
EBIT 1 331 339 312 249 258 273.6 292.4 320.9
Operating Margin 11.49% 12.08% 22.69% 14.22% 15.66% 17.04% 17.46% 18.46%
Earnings before Tax (EBT) 1 296 283 42 152 226 241.5 257.7 281.6
Net income 1 245 253 236 190 188 195.4 210.1 219
Net margin 8.5% 9.01% 17.16% 10.85% 11.41% 12.17% 12.54% 12.6%
EPS 2 0.6078 0.6277 0.5020 0.4620 0.4650 0.4721 0.5158 0.5643
Free Cash Flow 1 219 217 -45 -12 - 210.2 192.6 192
FCF margin 7.6% 7.73% -3.27% -0.69% - 13.1% 11.5% 11.04%
FCF Conversion (EBITDA) 44.51% 43.06% - - - 60.7% 52.09% 47.99%
FCF Conversion (Net income) 89.39% 85.77% - - - 107.56% 91.67% 87.66%
Dividend per Share 2 0.3453 0.3593 0.2180 0.1850 - 0.2074 0.2209 0.2297
Announcement Date 21/05/20 27/05/21 09/06/22 25/05/23 23/05/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S2 2021 S1 2021 S2 2022 S1 2023 S1 2023 S2 2024 S1 2024 S2
Net sales 1 1,406 1,389 1,418 656 849 902 857 790
EBITDA 1 - - - - - 148 - 150
EBIT - 182 - 97 137 112 143 -
Operating Margin - 13.1% - 14.79% 16.14% 12.42% 16.69% -
Earnings before Tax (EBT) - - - - - - - -
Net income - - - - - - - -
Net margin - - - - - - - -
EPS - - - - - - - -
Dividend per Share - - - - - 0.1850 - -
Announcement Date 21/05/20 05/11/20 27/05/21 04/11/21 10/11/22 25/05/23 09/11/23 23/05/24
1GBP in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 451 417 626 238 - 125 51.1 -
Net Cash position 1 - - - - - - - 101
Leverage (Debt/EBITDA) 0.9167 x 0.8274 x 1.332 x 0.7438 x - 0.3613 x 0.1382 x -
Free Cash Flow 1 219 217 -45 -12 - 210 193 192
ROE (net income / shareholders' equity) 17% 17.7% 15.4% 14.5% - 15.8% 15.7% 15.3%
ROA (Net income/ Total Assets) 8.68% 8.68% 7.59% 6.6% - 7.14% 7.63% 7.92%
Assets 1 2,822 2,914 3,109 2,879 - 2,736 2,754 2,767
Book Value Per Share 2 3.520 3.670 3.480 2.940 - 3.240 3.580 3.700
Cash Flow per Share 2 0.9500 0.9200 0.2200 0.1600 - 0.7400 0.8500 0.9000
Capex 1 166 152 148 78 - 117 120 119
Capex / Sales 5.76% 5.42% 10.76% 4.45% - 7.26% 7.18% 6.86%
Announcement Date 21/05/20 27/05/21 09/06/22 25/05/23 23/05/24 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
6.74 GBP
Average target price
8.655 GBP
Spread / Average Target
+28.41%
Consensus

Quarterly revenue - Rate of surprise

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