Alliance Pharma (APH)

Company name:	Alliance Pharma Plc
EPIC:	APH	Trading Currency:	GBX
Market Sector:	AS50	ISIN:	GB0031030819
Market Segment:	AMSM	Share Type:	DE
WWW Address:		Description:	ORD 1P
Industry Sector:	PHARMACEUTICALS & BIOTECHNOLOGY

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
74.00	-0.7 [-0.94]	73.50	74.00	74.40	74.40	73.20	250,467
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
393.11	531.24	0.02	5.09	0.54	14.54	0.73	88.90 - 57.10

Alliance Pharma Key Figures

(at previous day's close)
Market Cap.	393.11	m
Shares In Issue	531.24	m
Prev. Close	74.70
PE Ratio	14.54
Dividend Yield	0.73	%
EPS - basic	5.09	p
Dividend PS	0.54	p
Dividend Cover	9.43
Cash Flow PS	6.73	p
Return On Equity (ROE)	9.66	%
Operating Margin	24.25	%
PEG Factor	0.38
EPS Growth Rate	37.94	%
Dividends PS Growth Rate	-63.27	%
Net Debt	115.63	m
Gross Gearing	32.74	%
Quick Assets	50.53	m
Net Working Capital	41.84	m
Intangibles / Fixed Assets	96.22	%
Turnover PS	25.53	p
Pre-Tax Profit PS	6.19	p
Retained Profit PS	3.55	p
Cash PS	3.36	p
Net Cash PS	-1.20	p
Net Tangible Asset Value PS *	-10.26	p
Net Asset Value PS	51.61	p
Spread	0.50 (0.68%)
* 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.

Alliance Pharma Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	76.10	73.20
4 weeks	76.90	71.70
12 weeks	76.90	68.20
1 year	88.90	57.10

Share Price Chart (5 years)

Alliance Pharma Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	75.00	-1.00	-1.33	73.20	1.16		74.95
4 weeks	74.00	-	-	71.70	1.27		74.60
12 weeks	73.00	1.00	1.37	68.20	0.93		73.75
26 weeks	73.40	0.60	0.82	68.20	0.78		74.30
1 year	73.00	1.00	1.37	57.10	0.95		76.11
3 years	58.50	15.50	26.50	56.50	1.09		76.70
5 years	55.00	19.00	34.55	40.50	0.95		67.87
† periods calculated are whole weeks rather than calendar months

Alliance Pharma Key Management Ratios

Alliance Pharma Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	48.62
PE Ratio	14.54
Tobin's Q Ratio	0.97
Tobin's Q Ratio (excl. intangibles)	5.34
Dividend Yield	0.73	%
Market-to-Book Ratio	1.43
Price-to-Pre-Tax Profit PS	11.95
Price-to-Retained Profit PS	20.82
Price-to-Cash Flow PS	10.99
Price-to-Sales PS	2.90
Price-to-Net Tangible Asset Value PS	-7.22
Price-to-Cash PS	22.05
Net Working Capital PS	7.88
Price Pct to Working Capital PS	9.39	%
Earnings Yield	6.88	%
Average PE	13.49
Years in average	5
PE to PE average	107.75	%

Alliance Pharma Financial Ratios

(Leverage Ratios)
Debt Ratio	28.49	%
Debt-to-Equity Ratio	0.40
Debt-to-Equity Ratio (excl. Intgbl)	-2.01
Debt-to-Equity Market Value	0.28
Net Gearing	28.37	%
Net Gearing (excl. Intangibles)	146.41	%
Gross Gearing	32.74	%
Gross Gearing (excl. Intangibles)	168.98	%
Gearing Under 1 Year	5.94	%
Gearing Under 1 Year (excl. Intgbl)	30.65	%
Assets/Equity	1.49
Cash/Equity	6.50
(Liquidity Ratios)
Net Working Capital to Total Assets	10.27	%
Current Ratio	2.73
Quick Ratio (Acid Test)	2.09
Liquidity Ratio	0.74
Cash & Equiv/Current Assets	26.99	%
(Solvency Ratios)
Enterprise Value	484.54	m
CFO/Sales	0.26
CFO/Attributable Profit	1.35
CFO/Assets	0.09
CFO/Debt	0.27
Total Debt/Equity Market Value	0.34
Total Debt/Sales	0.98
Total Debt/Pre-Tax Profit	4.06
Total Debt	133.46	m
Total Debt/Net Current Assets	3.19	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	1.82	%
10 yr Compound Earnings Growth	2.54	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.0154	0.0083

Alliance Pharma Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	8.58	%
Return On Assets (ROA)	6.53	%
Net Profit Margin	19.52	%
Assets Turnover	0.33
Return On Equity (ROE)	9.66	%
Return On Investment (ROI)	7.62	%
Dividend Payout Ratio	10.61	%
Plowback Ratio	89.39	%
Growth from Plowback Ratio	8.99	%
Net Income Of Revenues	13.92	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.52
Fixed Assets Turnover	0.40
Current Assets Turnover	2.14
Net Working Capital Turnover
Inventory Turnover	7.93
(Other Operating Ratios)
Total Assets-to-Sales	2.99
Debtors-to-Sales	23.48	%
Debt Collection Period	85.70	Days

Alliance Pharma Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
22 Sep 2020	Interim	GBX	0.53	31/12/2019	31/12/2020	17/12/2020	18/12/2020	07/01/2021	-
24 Sep 2019	Interim	GBX	0.54	31/12/2018	31/12/2019	19/12/2019	20/12/2019	10/01/2020	0.54
26 Mar 2019	Final	GBX	0.98	31/12/2017	31/12/2018	13/06/2019	14/06/2019	11/07/2019	1.47
19 Sep 2018	Interim	GBX	0.49	31/12/2017	31/12/2018	20/12/2018	21/12/2018	10/01/2019	-
27 Mar 2018	Final	GBX	0.89	31/12/2016	31/12/2017	14/06/2018	15/06/2018	11/07/2018	1.33
13 Sep 2017	Interim	GBX	0.44	31/12/2016	31/12/2017	21/12/2017	22/12/2017	11/01/2018	-
29 Mar 2017	Final	GBX	0.81	31/12/2015	31/12/2016	15/06/2017	16/06/2017	12/07/2017	1.21
14 Sep 2016	Interim	GBX	0.40	31/12/2015	31/12/2016	22/12/2016	23/12/2016	12/01/2017	-
07 Apr 2016	Final	GBX	0.74	31/12/2014	31/12/2015	16/06/2016	17/06/2016	13/07/2016	1.10
09 Sep 2015	Interim	GBX	0.36	31/12/2014	31/12/2015	24/12/2015	29/12/2015	14/01/2016	-
25 Mar 2015	Final	GBX	0.67	31/12/2013	31/12/2014	18/06/2015	19/06/2015	15/07/2015	1.00
10 Sep 2014	Interim	GBX	0.33	31/12/2013	31/12/2014	03/12/2014	05/12/2014	15/01/2015	-
26 Mar 2014	Final	GBX	0.61	31/12/2012	31/12/2013	11/06/2014	13/06/2014	10/07/2014	0.91
11 Sep 2013	Interim	GBX	0.30	31/12/2012	31/12/2013	04/12/2013	06/12/2013	15/01/2014	-
21 Mar 2013	Final	GBX	0.55	31/12/2011	31/12/2012	12/06/2013	14/06/2013	11/07/2013	0.83
12 Sep 2012	Interim	GBX	0.28	31/12/2011	31/12/2012	05/12/2012	07/12/2012	15/01/2013	-
22 Mar 2012	Final	GBX	0.50	31/12/2010	31/12/2011	13/06/2012	15/06/2012	12/07/2012	0.75
07 Sep 2011	Interim	GBX	0.25	31/12/2010	31/12/2011	30/11/2011	02/12/2011	13/01/2012	-
23 Mar 2011	Final	GBX	0.40	31/12/2009	31/12/2010	15/06/2011	17/06/2011	14/07/2011	0.57
08 Sep 2010	Interim	GBX	0.17	31/12/2009	31/12/2010	01/12/2010	03/12/2010	14/01/2011	-
24 Mar 2010	Final	GBX	0.23	31/12/2008	31/12/2009	16/06/2010	18/06/2010	15/07/2010	0.30
09 Sep 2009	Interim	GBX	0.07	30/12/2008	30/06/2009	02/12/2009	04/12/2009	15/01/2010	-

Alliance Pharma Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	97.49	100.00%	103.32	100.00%	118.21	100.00%	135.64	100.00%	m
pre tax profit	22.22	22.79%	28.37	27.46%	22.80	19.29%	32.89	24.25%	m
attributable profit	18.09	18.56%	28.91	27.98%	18.36	15.53%	26.48	19.52%	m
retained profit	12.94	13.27%	23.18	22.44%	12.01	10.16%	18.88	13.92%	m
eps - basic (p)	3.85		6.10		3.69		5.09
eps - diluted (p)	3.82		6.03		3.60		4.99
dividends per share	1.21		1.33		1.47		0.54

Alliance Pharma Balance Sheet

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)


	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
ASSETS
fixed assets	1.81	0.56%	3.38	1.00%	7.59	1.88%	11.55	2.83%	m
intangibles	264.83	82.57%	278.62	82.81%	335.24	83.06%	328.66	80.63%	m
fixed investments	1.64	0.51%	1.71	0.51%	0.18	0.04%	1.37	0.34%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	15.36	4.79%	14.25	4.23%	18.71	4.63%	15.52	3.81%	m
debtors	29.88	9.32%	27.33	8.12%	30.99	7.68%	32.70	8.02%	m
cash & securities	7.22	2.25%	11.18	3.32%	10.89	2.70%	17.83	4.37%	m

TOTAL	320.74	100%	336.48	100%	403.61	100%	407.64	100%	m

LIABILITIES
creditors - short	50.28	15.68%	60.81	18.07%	91.72	22.73%	24.21	5.94%	m
creditors - long	91.20	28.43%	72.29	21.48%	59.69	14.79%	109.25	26.80%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	141.47	44.11%	133.10	39.56%	151.41	37.51%	133.46	32.74%	m

EQUITY
ord cap, reserves	179.26	55.89%	203.38	60.44%	252.20	62.49%	274.18	67.26%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	179.26	55.89%	203.38	60.44%	252.20	62.49%	274.18	67.26%	m

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

Alliance Pharma Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	16.93	26.58	22.17	35.76	m
Pre-Financing CF	8.90	10.67	-36.91	32.47	m
Retained CF	3.43	4.22	-0.33	7.28	m

Alliance Pharma Brokers

Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MMF)	Broker/Dealer	EVO	EVBGGB21MMT
Numis Securities Limited	Market Maker(MMF)	Broker/Dealer	NUMS	RAZHGB2LBIC
Shore Capital Stockbrokers Ltd	Market Maker(MMF)	Broker/Dealer	SCAP	SHOCGB21
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC