Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Perpetuity Growth Rate | 5.3% - 5.8% | 5.5% |
| Discount Rate | 9.8% - 8.8% | 9.3% |
| Fair Value | €60.61 - €89.41 | €72.13 |
| Upside | 13.1% - 66.8% | 34.6% |
| Project Adjusted Dividends | ||||||||
| Fiscal Year Ending | ||||||||
| (GBP in millions) | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Terminal | |
| Net Income to Common | 345 | 417 | 453 | 486 | 492 | 487 | 487 | |
| % Growth | 16.1% | 20.8% | 8.5% | 7.4% | 1.2% | -1.0% | ||
| Payout Ratio | 59.7% | 66.0% | 72.0% | 78.0% | 84.0% | 90.0% | 92.5% | |
| Projected Dividends | 206 | 275 | 326 | 379 | 413 | 438 | 450 | |
| % Growth | 33.6% | 18.3% | 16.4% | 9.0% | 6.1% | |||
| Historical Performance | ||||||||
| Fiscal Year Ending | YTD | YTD | ||||||
| (GBP in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | Dec-23 | Dec-24 | |
| Cash Dividends Paid | 170 | 171 | 171 | 176 | 206 | 176 | 206 | |
| % Growth | 0% | 0% | 3% | 17% | 17% | |||
| Net Income to Common | 247 | 288 | 289 | 297 | 345 | 297 | 345 | |
| % Growth | 16% | 0% | 3% | 16% | 16% | |||
| Payout Ratio | 69% | 59% | 59% | 59% | 60% | 59% | 60% | |
| Retention Ratio | 31% | 41% | 41% | 41% | 40% | 41% | 40% | |
| Adjusted EBITDA | 584 | 624 | 680 | 708 | 732 | 708 | 732 | |
| % Growth | 7% | 9% | 4% | 3% | 3% | |||
| Total Debt | 848 | 1,292 | 1,382 | 1,218 | 1,142 | 1,218 | 1,142 | |
| Shareholder's Equity | 975 | 1,082 | 1,284 | 1,323 | 1,402 | 1,323 | 1,402 | |
| Debt / EBITDA | 1.5 | 2.1 | 2.0 | 1.7 | 1.6 | 1.5 | ||
| Debt / Equity | 87% | 119% | 108% | 92% | 81% | 92% | 81% | |
| 3-Yr Avg. Dividend Growth | 6.7% | |||||||
| 5-Yr Median Payout Ratio | 59.3% | |||||||