Ashtead (AHT)

Company name:	Ashtead Group Plc
EPIC:	AHT	Trading Currency:	GBX
Market Sector:	FS10	ISIN:	GB0000536739
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.ashtead-group.com/	Description:	ORD 10P
Industry Sector:	SUPPORT SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
2,739.00	115.0 [4.38]	2,740.00	2,742.00	2,652.00	2,750.00	2,645.00	1,204,240
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
13,085.53	477.75	0.93	162.10	40.65	16.90	1.48	2,876.00 - 1,010.00

Ashtead Key Figures

(at previous day's close)
Market Cap.	13,085.53	m
Shares In Issue	477.75	m
Prev. Close	2,624.00
PE Ratio	16.90
Dividend Yield	1.48	%
EPS - basic	162.10	p
Dividend PS	40.65	p
Dividend Cover	3.99
Cash Flow PS	206.87	p
Return On Equity (ROE)	24.89	%
Operating Margin	19.45	%
PEG Factor	-7.02
EPS Growth Rate	-2.41	%
Dividends PS Growth Rate	1.63	%
Net Debt	7,319.00	m
Gross Gearing	71.78	%
Quick Assets	1,095.80	m
Net Working Capital	442.40	m
Intangibles / Fixed Assets	29.45	%
Turnover PS	1,057.79	p
Pre-Tax Profit PS	205.71	p
Retained Profit PS	115.75	p
Cash PS	50.53	p
Net Cash PS	-103.67	p
Net Tangible Asset Value PS *	45.53	p
Net Asset Value PS	622.13	p
Spread	2.00 (0.07%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Ashtead Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	2,750.00	2,468.00
4 weeks	2,750.00	2,435.00
12 weeks	2,876.00	2,225.00
1 year	2,876.00	1,010.00

Share Price Chart (5 years)

Ashtead Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	2,526.00	213.00	8.43	2,468.00	0.99		2,574.57
4 weeks	2,559.00	180.00	7.03	2,435.00	1.15		2,588.29
12 weeks	2,335.00	404.00	17.30	2,225.00	1.40		2,568.58
26 weeks	2,669.00	70.00	2.62	1,010.00	1.91		2,167.07
1 year	2,231.00	508.00	22.77	1,010.00	1.74		2,238.14
3 years	1,572.00	1,167.00	74.24	1,010.00	1.82		2,085.58
5 years	964.50	1,774.50	183.98	749.00	2.02		1,684.27
† periods calculated are whole weeks rather than calendar months

Ashtead Key Management Ratios

Ashtead Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	17.28
PE Ratio	16.90
Tobin's Q Ratio	1.39
Tobin's Q Ratio (excl. intangibles)	1.78
Dividend Yield	1.48	%
Market-to-Book Ratio	4.40
Price-to-Pre-Tax Profit PS	13.31
Price-to-Retained Profit PS	23.66
Price-to-Cash Flow PS	13.24
Price-to-Sales PS	2.59
Price-to-Net Tangible Asset Value PS	60.16
Price-to-Cash PS	54.21
Net Working Capital PS	92.60
Price Pct to Working Capital PS	29.58	%
Earnings Yield	5.92	%
Average PE	13.51
Years in average	4
PE to PE average	125.10	%

Ashtead Financial Ratios

(Leverage Ratios)
Debt Ratio	69.66	%
Debt-to-Equity Ratio	2.30
Debt-to-Equity Ratio (excl. Intgbl)	31.37
Debt-to-Equity Market Value	0.52
Net Gearing	69.49	%
Net Gearing (excl. Intangibles)	94.10	%
Gross Gearing	71.78	%
Gross Gearing (excl. Intangibles)	97.20	%
Gearing Under 1 Year	6.99	%
Gearing Under 1 Year (excl. Intgbl)	9.47	%
Assets/Equity	3.54
Cash/Equity	8.12
(Liquidity Ratios)
Net Working Capital to Total Assets	4.20	%
Current Ratio	1.60
Quick Ratio (Acid Test)	1.49
Liquidity Ratio	0.33
Cash & Equiv/Current Assets	20.47	%
(Solvency Ratios)
Enterprise Value	19,667.83	m
CFO/Sales	0.20
CFO/Attributable Profit	1.34
CFO/Assets	0.09
CFO/Debt	0.13
Total Debt/Equity Market Value	0.58
Total Debt/Sales	1.50
Total Debt/Pre-Tax Profit	7.69
Total Debt	7,560.40	m
Total Debt/Net Current Assets	17.09	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	14.80	%
10 yr Compound Earnings Growth	95.38	%
Earn drops > 5% in 10yrs	10

Beta (60-Mnth)	Beta (36-Mnth)
0.9294	0.1304

Ashtead Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	10.03	%
Return On Assets (ROA)	7.83	%
Net Profit Margin	14.64	%
Assets Turnover	0.54
Return On Equity (ROE)	24.89	%
Return On Investment (ROI)	8.47	%
Dividend Payout Ratio	25.08	%
Plowback Ratio	74.92	%
Growth from Plowback Ratio	19.20	%
Net Income Of Revenues	10.94	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.75
Fixed Assets Turnover	0.60
Current Assets Turnover	4.71
Net Working Capital Turnover
Inventory Turnover	60.59
(Other Operating Ratios)
Total Assets-to-Sales	1.87
Debtors-to-Sales	17.05	%
Debt Collection Period	62.23	Days

Ashtead Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
16 Jun 2020	Final	GBX	33.50	30/04/2019	30/04/2020	13/08/2020	14/08/2020	11/09/2020	40.65
10 Dec 2019	Interim	GBX	7.15	01/05/2019	31/10/2019	16/01/2020	17/01/2020	05/02/2020	-
18 Jun 2019	Final	GBX	33.50	30/04/2018	30/04/2019	15/08/2019	16/08/2019	13/09/2019	40.00
11 Dec 2018	Interim	GBX	6.50	01/05/2018	31/10/2018	17/01/2019	18/01/2019	06/02/2019	-
19 Jun 2018	Final	GBX	27.50	30/04/2017	30/04/2018	16/08/2018	17/08/2018	14/09/2018	33.00
12 Dec 2017	Interim	GBX	5.50	01/05/2017	31/10/2017	18/01/2018	19/01/2018	07/02/2018	-
13 Jun 2017	Final	GBX	22.75	30/04/2016	30/04/2017	17/08/2017	18/08/2017	15/09/2017	27.50
06 Dec 2016	Interim	GBX	4.75	01/05/2016	31/10/2016	19/01/2017	20/01/2017	08/02/2017	-
14 Jun 2016	Final	GBX	18.50	30/04/2015	30/04/2016	11/08/2016	12/08/2016	09/09/2016	22.50
09 Dec 2015	Interim	GBX	4.00	01/05/2015	31/10/2015	14/01/2016	15/01/2016	03/02/2016	-
16 Jun 2015	Final	GBX	12.25	30/04/2014	30/04/2015	13/08/2015	14/08/2015	04/09/2015	15.25
10 Dec 2014	Interim	GBX	3.00	01/05/2014	31/10/2014	15/01/2015	16/01/2015	04/02/2015	-
17 Jun 2014	Final	GBX	9.25	30/04/2013	30/04/2014	13/08/2014	15/08/2014	05/09/2014	11.50
10 Dec 2013	Interim	GBX	2.25	01/05/2013	31/10/2013	15/01/2014	17/01/2014	05/02/2014	-
20 Jun 2013	Final	GBX	6.00	30/04/2012	30/04/2013	14/08/2013	16/08/2013	06/09/2013	7.50
11 Dec 2012	Interim	GBX	1.50	01/05/2012	31/10/2012	16/01/2013	18/01/2013	06/02/2013	-
21 Jun 2012	Final	GBX	2.50	30/04/2011	30/04/2012	15/08/2012	17/08/2012	07/09/2012	3.50
08 Dec 2011	Interim	GBX	1.00	01/05/2011	31/10/2011	18/01/2012	20/01/2012	08/02/2012	-
16 Jun 2011	Final	GBX	2.07	30/04/2010	30/04/2011	17/08/2011	19/08/2011	09/09/2011	3.00
09 Dec 2010	Interim	GBX	0.93	01/05/2010	31/10/2010	19/01/2011	21/01/2011	09/02/2011	-
12 Jul 2010	Final	GBX	2.00	30/04/2009	30/04/2010	18/08/2010	20/08/2010	10/09/2010	2.90
03 Dec 2009	Interim	GBX	0.90	01/05/2009	31/10/2009	13/01/2010	15/01/2010	03/02/2010	-
18 Jun 2009	Final	GBX	1.68	30/04/2008	30/04/2009	19/08/2009	21/08/2009	11/09/2009	2.56
09 Dec 2008	Interim	GBX	0.90	01/05/2008	31/10/2008	28/01/2009	30/01/2009	12/02/2009	-
24 Jun 2008	Final	GBX	1.68	30/04/2007	30/04/2008	03/09/2008	05/09/2008	26/09/2008	2.50
11 Dec 2007	Interim	GBX	0.83	01/05/2007	31/10/2007	06/02/2008	08/02/2008	29/02/2008	-
25 Jun 2007	Final	GBX	1.10	30/04/2006	30/04/2007	05/09/2007	07/09/2007	28/09/2007	1.65
12 Dec 2006	Interim	GBX	0.55	01/05/2006	31/10/2006	07/02/2007	09/02/2007	28/02/2007	-
27 Jun 2006	Final	GBX	1.00	30/04/2005	30/04/2006	26/07/2006	28/07/2006	28/09/2006	1.50
13 Dec 2005	Interim	GBX	0.50	01/05/2005	31/10/2005	15/02/2006	17/02/2006	28/02/2006	-
15 Jul 2003	Final	GBX	-	30/04/2002	30/04/2003	-	-	-	0.62
15 Jan 2003	Interim	GBX	0.62	01/05/2002	31/10/2002	26/02/2003	28/02/2003	07/04/2003	-
09 Jul 2002	Final	GBX	2.88	30/04/2001	30/04/2002	04/09/2002	06/09/2002	30/09/2002	3.50
16 Jan 2002	Interim	GBX	0.62	01/05/2001	31/10/2001	27/02/2002	01/03/2002	08/04/2002	-
17 Jul 2001	Final	GBX	2.88	30/04/2000	30/04/2001	05/09/2001	07/09/2001	10/10/2001	3.50
22 Jan 2001	Interim	GBX	0.62	01/05/2000	31/10/2000	28/02/2001	02/03/2001	06/04/2001	-
10 Jul 2000	Final	GBX	2.60	30/04/1999	30/04/2000	04/09/2000	08/09/2000	11/10/2000	3.16
03 Feb 2000	Interim	GBX	0.56	01/05/1999	31/10/1999	28/02/2000	03/03/2000	06/04/2000	-
12 Jul 1999	Final	GBX	2.22	30/04/1998	30/04/1999	06/09/1999	10/09/1999	06/10/1999	2.70
13 Jul 1998	Final	GBX	1.89	30/04/1997	30/04/1998	07/09/1998	11/09/1998	12/10/1998	2.30

Ashtead Fundamentals

	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)
turnover	3,186.80	100.00%	3,418.20	100.00%	4,499.60	100.00%	5,053.60	100.00%	m
pre tax profit	765.10	24.01%	862.10	25.22%	1,059.50	23.55%	982.80	19.45%	m
attributable profit	501.00	15.72%	968.80	28.34%	796.90	17.71%	739.70	14.64%	m
retained profit	384.90	12.08%	828.30	24.23%	632.70	14.06%	553.00	10.94%	m
eps - basic (p)	100.50		195.30		166.10		162.10
eps - diluted (p)	100.00		194.40		165.40		161.50
dividends per share	27.50		33.00		40.00		40.65

Ashtead Balance Sheet

	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)


	30 Apr 2017 (GBP)		30 Apr 2018 (GBP)		30 Apr 2019 (GBP)		30 Apr 2020 (GBP)
ASSETS
fixed assets	4,504.60	73.53%	4,882.00	72.40%	5,987.00	71.64%	6,598.80	62.65%	m
intangibles	972.10	15.87%	1,088.90	16.15%	1,405.30	16.81%	2,754.70	26.15%	m
fixed investments	-	-%	4.50	0.07%	-	-%	-	-%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	44.20	0.72%	55.20	0.82%	83.50	1.00%	83.30	0.79%	m
debtors	598.80	9.77%	693.30	10.28%	868.90	10.40%	854.40	8.11%	m
cash & securities	6.30	0.10%	19.10	0.28%	12.80	0.15%	241.40	2.29%	m

TOTAL	6,126.00	100%	6,743.00	100%	8,357.50	100%	10,532.60	100%	m

LIABILITIES
creditors - short	574.70	9.38%	659.10	9.77%	693.60	8.30%	736.70	6.99%	m
creditors - long	3,581.20	58.46%	3,557.00	52.75%	4,863.40	58.19%	6,823.70	64.79%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	4,155.90	67.84%	4,216.10	62.53%	5,557.00	66.49%	7,560.40	71.78%	m

EQUITY
ord cap, reserves	1,970.10	32.16%	2,526.90	37.47%	2,800.50	33.51%	2,972.20	28.22%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1,970.10	32.16%	2,526.90	37.47%	2,800.50	33.51%	2,972.20	28.22%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Ashtead Cash Flow Statement

	30 Apr 2017 (GBP)	30 Apr 2018 (GBP)	30 Apr 2019 (GBP)	30 Apr 2020 (GBP)
Operating CF	424.80	518.50	526.70	988.30	m
Pre-Financing CF	-101.70	27.20	-223.10	339.00	m
Retained CF	-7.20	13.10	-6.60	227.90	m

Ashtead Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
Arden Partners Plc	Market Maker(MME)	Broker/Dealer	ARDA	ARRRGB2100A
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Deutsche Bank AG London Branch	Market Maker(MME)	Broker/Dealer	DEUT	DEUTGB2L
Commerzbank AG	Market Maker(MME)	Broker/Dealer	KLWT	DRESGB2LPST
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
Investec Bank Plc	Market Maker(MME)	Broker/Dealer	INV.	IHCSGB21002
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC