Avon Rubber (AVON)

Company name:	Avon Rubber Plc
EPIC:	AVON	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	GB0000667013
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.avon-rubber.co.uk/	Description:	ORD #1
Industry Sector:	AEROSPACE & DEFENCE

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
3,235.00	-185.0 [-5.41]	3,245.00	3,260.00	3,450.00	3,450.00	3,220.00	67,785
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
1,003.60	31.02	-1.15	447.40	27.08	7.23	0.84	4,650.00 - 1,790.00

Avon Rubber Key Figures

(at previous day's close)
Market Cap.	1,003.60	m
Shares In Issue	31.02	m
Prev. Close	3,420.00
PE Ratio	7.23
Dividend Yield	0.84	%
EPS - basic	447.40	p
Dividend PS	27.08	p
Dividend Cover	16.52
Cash Flow PS	10.64	p
Return On Equity (ROE)	75.96	%
Operating Margin	0.30	%
PEG Factor	0.01
EPS Growth Rate	853.94	%
Dividends PS Growth Rate	30.00	%
Net Debt	29.70	m
Gross Gearing	49.52	%
Quick Assets	206.40	m
Net Working Capital	155.30	m
Intangibles / Fixed Assets	57.59	%
Turnover PS	541.53	p
Pre-Tax Profit PS	1.61	p
Retained Profit PS	418.40	p
Cash PS	473.84	p
Net Cash PS	217.26	p
Net Tangible Asset Value PS *	354.25	p
Net Asset Value PS	580.53	p
Spread	15.00 (0.46%)
* 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.

Avon Rubber Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	3,655.00	3,220.00
4 weeks	3,655.00	3,040.00
12 weeks	4,650.00	2,955.00
1 year	4,650.00	1,790.00

Share Price Chart (5 years)

Avon Rubber Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	3,635.00	-400.00	-11.00	3,220.00	0.08		3,509.34
4 weeks	3,040.00	195.00	6.41	3,040.00	0.08		3,384.06
12 weeks	3,905.00	-670.00	-17.16	2,955.00	0.13		3,813.18
26 weeks	3,400.00	-165.00	-4.85	2,955.00	0.09		3,875.03
1 year	2,550.00	685.00	26.86	1,790.00	0.08		3,399.13
3 years	1,320.00	1,915.00	145.08	1,075.00	0.06		2,387.29
5 years	975.00	2,260.00	231.79	705.50	0.05		1,970.10
† periods calculated are whole weeks rather than calendar months

Avon Rubber Key Management Ratios

Avon Rubber Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	333.51
PE Ratio	7.23
Tobin's Q Ratio	3.78
Tobin's Q Ratio (excl. intangibles)	4.72
Dividend Yield	0.84	%
Market-to-Book Ratio	5.57
Price-to-Pre-Tax Profit PS	2,007.21
Price-to-Retained Profit PS	7.73
Price-to-Cash Flow PS	304.12
Price-to-Sales PS	5.97
Price-to-Net Tangible Asset Value PS	9.13
Price-to-Cash PS	6.83
Net Working Capital PS	500.59
Price Pct to Working Capital PS	6.46	%
Earnings Yield	13.83	%
Average PE	18.05
Years in average	5
PE to PE average	40.07	%

Avon Rubber Financial Ratios

(Leverage Ratios)
Debt Ratio	35.03	%
Debt-to-Equity Ratio	0.54
Debt-to-Equity Ratio (excl. Intgbl)	0.88
Debt-to-Equity Market Value	0.10
Net Gearing	8.32	%
Net Gearing (excl. Intangibles)	10.36	%
Gross Gearing	49.52	%
Gross Gearing (excl. Intangibles)	61.65	%
Gearing Under 1 Year	22.31	%
Gearing Under 1 Year (excl. Intgbl)	27.77	%
Assets/Equity	1.98
Cash/Equity	81.62
(Liquidity Ratios)
Net Working Capital to Total Assets	43.53	%
Current Ratio	2.95
Quick Ratio (Acid Test)	2.59
Liquidity Ratio	1.85
Cash & Equiv/Current Assets	62.58	%
(Solvency Ratios)
Enterprise Value	953.70	m
CFO/Sales	0.02
CFO/Attributable Profit	0.02
CFO/Assets	0.01
CFO/Debt	0.02
Total Debt/Equity Market Value	0.18
Total Debt/Sales	1.05
Total Debt/Pre-Tax Profit	353.40
Total Debt	176.70	m
Total Debt/Net Current Assets	1.14	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	85.49	%
5 yr Compound Earnings Growth	43.24	%
10 yr Compound Earnings Growth	33.33	%
Earn drops > 5% in 10yrs	9

Beta (60-Mnth)	Beta (36-Mnth)
-1.1463	-1.9882

Avon Rubber Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	0.18	%
Return On Assets (ROA)	51.57	%
Net Profit Margin	81.43	%
Assets Turnover	0.63
Return On Equity (ROE)	75.96	%
Return On Investment (ROI)	66.04	%
Dividend Payout Ratio	6.05	%
Plowback Ratio	93.95	%
Growth from Plowback Ratio	96.45	%
Net Income Of Revenues	77.26	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.26
Fixed Assets Turnover	1.88
Current Assets Turnover	0.95
Net Working Capital Turnover
Inventory Turnover	6.83
(Other Operating Ratios)
Total Assets-to-Sales	1.58
Debtors-to-Sales	31.93	%
Debt Collection Period	116.56	Days

Avon Rubber Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
02 Dec 2020	Final	GBX	18.06	30/09/2019	30/09/2020	11/02/2021	12/02/2021	12/03/2021	27.08
19 May 2020	Interim	GBX	9.02	01/10/2019	31/03/2020	06/08/2020	07/08/2020	04/09/2020	-
13 Nov 2019	Final	GBX	13.89	30/09/2018	30/09/2019	13/02/2020	14/02/2020	13/03/2020	20.83
01 May 2019	Interim	GBX	6.94	01/10/2018	31/03/2019	08/08/2019	09/08/2019	06/09/2019	-
14 Nov 2018	Final	GBX	10.68	30/09/2017	30/09/2018	14/02/2019	15/02/2019	15/03/2019	16.02
02 May 2018	Interim	GBX	5.34	01/10/2017	31/03/2018	09/08/2018	10/08/2018	07/09/2018	-
15 Nov 2017	Final	GBX	8.21	30/09/2016	30/09/2017	15/02/2018	16/02/2018	16/03/2018	12.32
16 May 2017	Interim	GBX	4.11	01/10/2016	31/03/2017	10/08/2017	11/08/2017	08/09/2017	-
16 Nov 2016	Final	GBX	6.32	30/09/2015	30/09/2016	16/02/2017	17/02/2017	17/03/2017	9.48
04 May 2016	Interim	GBX	3.16	01/10/2015	31/03/2016	07/08/2016	08/08/2016	05/09/2016	-
17 Nov 2015	Final	GBX	4.86	30/09/2014	30/09/2015	18/02/2016	19/02/2016	18/03/2016	7.29
29 Apr 2015	Interim	GBX	2.43	01/10/2014	31/03/2015	06/08/2015	07/08/2015	04/09/2015	-
19 Nov 2014	Final	GBX	3.74	30/09/2013	30/09/2014	19/02/2015	20/02/2015	20/03/2015	5.61
30 Apr 2014	Interim	GBX	1.87	01/10/2013	31/03/2014	07/08/2014	09/08/2014	05/09/2014	-
20 Nov 2013	Final	GBX	2.88	30/09/2012	30/09/2013	19/02/2014	21/02/2014	21/03/2014	4.32
01 May 2013	Interim	GBX	1.44	01/10/2012	31/03/2013	07/08/2013	09/08/2013	06/09/2013	-
21 Nov 2012	Final	GBX	2.40	30/09/2011	30/09/2012	13/02/2013	15/02/2013	15/03/2013	3.60
02 May 2012	Interim	GBX	1.20	01/10/2011	31/03/2012	08/08/2012	10/08/2012	07/09/2012	-
23 Nov 2011	Final	GBX	2.00	30/09/2010	30/09/2011	08/02/2012	10/02/2012	09/03/2012	3.00
04 May 2011	Interim	GBX	1.00	01/10/2010	31/03/2011	10/08/2011	12/08/2011	09/09/2011	-
24 Nov 2010	Final	GBX	1.50	30/09/2009	30/09/2010	09/03/2011	11/03/2011	08/04/2011	1.50
19 Mar 2008	Final	GBX	4.80	31/03/2007	31/03/2008	09/01/2008	11/01/2008	04/02/2008	8.60
17 May 2007	Interim	GBX	3.70	01/10/2006	31/03/2007	06/06/2007	08/06/2007	09/07/2007	-
30 Nov 2006	Final	GBX	4.80	30/09/2005	30/09/2006	10/01/2007	12/01/2007	02/02/2007	8.50
22 May 2006	Interim	GBX	3.70	01/10/2005	31/03/2006	07/06/2006	09/06/2006	03/07/2006	-
01 Dec 2005	Final	GBX	4.80	30/09/2004	30/09/2005	11/01/2006	13/01/2006	27/01/2006	8.50
19 May 2005	Interim	GBX	3.70	01/10/2004	31/03/2005	08/06/2005	10/06/2005	01/07/2005	-
02 Dec 2004	Final	GBX	4.80	30/09/2003	30/09/2004	12/01/2005	14/01/2005	28/01/2005	8.50
20 May 2004	Interim	GBX	3.70	01/10/2003	31/03/2004	09/06/2004	11/06/2004	02/07/2004	-
04 Dec 2003	Final	GBX	4.50	30/09/2002	30/09/2003	14/01/2004	16/01/2004	30/01/2004	8.00
15 May 2003	Interim	GBX	3.50	01/10/2002	31/03/2003	04/06/2003	06/06/2003	27/06/2003	-
28 Nov 2002	Final	GBX	4.00	30/09/2001	30/09/2002	08/01/2003	10/01/2003	31/01/2003	7.50
16 May 2002	Interim	GBX	3.50	01/10/2001	31/03/2002	05/06/2002	07/06/2002	28/06/2002	-
06 Dec 2001	Final	GBX	3.50	29/09/2000	29/09/2001	16/01/2002	18/01/2002	12/02/2002	7.00
16 May 2001	Interim	GBX	3.50	01/10/2000	31/03/2001	06/06/2001	08/06/2001	29/06/2001	-
30 Nov 2000	Final	GBX	17.20	30/09/1999	30/09/2000	27/12/2000	03/01/2001	26/01/2001	24.20
11 May 2000	Interim	GBX	7.00	01/10/1999	01/04/2000	05/06/2000	09/06/2000	30/06/2000	-
02 Dec 1999	Final	GBX	17.20	02/10/1998	02/10/1999	29/12/1999	06/01/2000	28/01/2000	24.20
03 Dec 1998	Final	GBX	16.20	03/10/1997	03/10/1998	21/12/1998	29/12/1998	29/01/1999	22.80

Avon Rubber Fundamentals

	30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)		30 Sep 2020 (GBP)
turnover	163.20	100.00%	165.50	100.00%	179.30	100.00%	168.00	100.00%	m
pre tax profit	18.60	11.40%	21.60	13.05%	13.70	7.64%	0.50	0.30%	m
attributable profit	21.50	13.17%	21.40	12.93%	14.30	7.98%	136.80	81.43%	m
retained profit	18.30	11.21%	17.30	10.45%	8.90	4.96%	129.80	77.26%	m
eps - basic (p)	70.60		70.10		46.90		447.40
eps - diluted (p)	70.20		69.60		46.50		441.30
dividends per share	12.32		16.02		20.83		27.08

Avon Rubber Balance Sheet

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


	30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)		30 Sep 2020 (GBP)
ASSETS
fixed assets	26.30	17.87%	22.60	13.61%	21.40	12.32%	51.70	14.49%	m
intangibles	40.40	27.45%	41.50	24.98%	35.30	20.32%	70.20	19.67%	m
fixed investments	0.20	0.14%	-	-%	-	-%	-	-%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	21.80	14.81%	23.00	13.85%	20.70	11.92%	28.50	7.99%	m
debtors	32.00	21.74%	32.40	19.51%	47.90	27.58%	59.40	16.65%	m
cash & securities	26.50	18.00%	46.60	28.06%	48.40	27.86%	147.00	41.20%	m

TOTAL	147.20	100%	166.10	100%	173.70	100%	356.80	100%	m

LIABILITIES
creditors - short	39.00	26.49%	41.40	24.92%	36.60	21.07%	79.60	22.31%	m
creditors - long	52.60	35.73%	39.90	24.02%	50.70	29.19%	97.10	27.21%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	91.60	62.23%	81.30	48.95%	87.30	50.26%	176.70	49.52%	m

EQUITY
ord cap, reserves	55.60	37.77%	84.80	51.05%	86.40	49.74%	180.10	50.48%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	55.60	37.77%	84.80	51.05%	86.40	49.74%	180.10	50.48%	m

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

Avon Rubber Cash Flow Statement

	30 Sep 2017 (GBP)	30 Sep 2018 (GBP)	30 Sep 2019 (GBP)	30 Sep 2020 (GBP)
Operating CF	32.50	31.40	15.80	3.30	m
Pre-Financing CF	27.00	27.60	7.90	79.50	m
Retained CF	22.00	20.70	1.20	97.80	m

Avon Rubber Brokers

Name	Activity	Type	Mnemonic	Code
Arden Partners Plc	Market Maker(MMF)	Broker/Dealer	ARDA	ARRRGB2100A
J.P. Morgan Cazenove Limited	Market Maker(MMF)	Broker/Dealer	CAZR	CAZEGB2L
Winterflood Securities Ltd	Market Maker(MMF)	Broker/Dealer	WINS	WNTSGB2LBIC