Computacenter (CCC)

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Capital at risk

Company name:	Computacenter Plc
Company Description:	The company provides a wide range of IT infrastructure serivces which can be split into broad categories
EPIC:	CCC	Trading Currency:	GBX
Market Sector:	F25F	ISIN:	GB00BV9FP302
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.computacenter.co.uk/	Description:	ORD 7 5/9P
Industry Sector:	SOFTWARE & COMPUTER SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
2,018.00	70.0 [3.59]	2,016.00	2,020.00	1,986.00	2,024.00	1,953.00	41,265
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
2,475.84	122.69	0.19	164.00	66.30	12.30	3.29	3,050.00 - 1,833.00

Computacenter Key Figures

(at previous day's close)
Market Cap.	2,475.84	m
Shares In Issue	122.69	m
Prev. Close	1,948.00
PE Ratio	12.30
Dividend Yield	3.29	%
EPS - basic	164.00	p
Dividend PS	66.30	p
Dividend Cover	2.47
Cash Flow PS	182.82	p
Return On Equity (ROE)	25.02	%
Operating Margin	3.69	%
PEG Factor	0.60
EPS Growth Rate	20.41	%
Dividends PS Growth Rate	30.77	%
Net Debt	1,683.90	m
Gross Gearing	72.56	%
Quick Assets	1,866.90	m
Net Working Capital	424.50	m
Intangibles / Fixed Assets	54.12	%
Turnover PS	5,482.04	p
Pre-Tax Profit PS	202.14	p
Retained Profit PS	100.17	p
Cash PS	232.46	p
Net Cash PS	-1,221.39	p
Net Tangible Asset Value PS *	380.48	p
Net Asset Value PS	607.07	p
Spread	4.00 (0.20%)
* 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.

Computacenter Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	2,024.00	1,833.00
4 weeks	2,464.00	1,833.00
12 weeks	2,644.00	1,833.00
1 year	3,050.00	1,833.00

Share Price Chart (5 years)

Computacenter Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	1,963.00	55.00	2.80	1,833.00	0.19		1,930.96
4 weeks	2,396.00	-378.00	-15.78	1,833.00	0.23		2,091.22
12 weeks	2,496.00	-478.00	-19.15	1,833.00	0.16		2,310.26
26 weeks	2,940.00	-922.00	-31.36	1,833.00	0.19		2,435.85
1 year	2,698.00	-680.00	-25.20	1,833.00	0.18		2,585.32
3 years	1,219.00	799.00	65.55	900.00	0.20		2,187.98
5 years	992.00	1,026.00	103.43	900.00	0.22		1,739.47
† periods calculated are whole weeks rather than calendar months

Computacenter Key Management Ratios

Computacenter Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	15.30
PE Ratio	12.30
Tobin's Q Ratio	0.97
Tobin's Q Ratio (excl. intangibles)	1.12
Dividend Yield	3.29	%
Market-to-Book Ratio	3.34
Price-to-Pre-Tax Profit PS	9.98
Price-to-Retained Profit PS	20.15
Price-to-Cash Flow PS	11.04
Price-to-Sales PS	0.37
Price-to-Net Tangible Asset Value PS	5.26
Price-to-Cash PS	8.68
Net Working Capital PS	346.00
Price Pct to Working Capital PS	5.83	%
Earnings Yield	8.13	%
Average PE	17.31
Years in average	5
PE to PE average	71.07	%

Computacenter Financial Ratios

(Leverage Ratios)
Debt Ratio	19.93	%
Debt-to-Equity Ratio	0.25
Debt-to-Equity Ratio (excl. Intgbl)	0.39
Debt-to-Equity Market Value	0.07
Net Gearing	62.05	%
Net Gearing (excl. Intangibles)	69.01	%
Gross Gearing	72.56	%
Gross Gearing (excl. Intangibles)	80.69	%
Gearing Under 1 Year	65.72	%
Gearing Under 1 Year (excl. Intgbl)	73.10	%
Assets/Equity	3.64
Cash/Equity	38.29
(Liquidity Ratios)
Net Working Capital to Total Assets	15.64	%
Current Ratio	1.24
Quick Ratio (Acid Test)	1.05
Liquidity Ratio	0.16
Cash & Equiv/Current Assets	12.92	%
(Solvency Ratios)
Enterprise Value	2,380.34	m
CFO/Sales	0.03
CFO/Attributable Profit	1.21
CFO/Assets	0.08
CFO/Debt	0.11
Total Debt/Equity Market Value	0.80
Total Debt/Sales	0.29
Total Debt/Pre-Tax Profit	7.94
Total Debt	1,969.10	m
Total Debt/Net Current Assets	4.64	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	22.01	%
5 yr Compound Earnings Growth	19.50	%
10 yr Compound Earnings Growth	17.43	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.1913	0.7668

Computacenter Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	26.66	%
Return On Assets (ROA)	7.24	%
Net Profit Margin	2.76	%
Assets Turnover	2.63
Return On Equity (ROE)	25.02	%
Return On Investment (ROI)	21.23	%
Dividend Payout Ratio	40.43	%
Plowback Ratio	59.57	%
Growth from Plowback Ratio	16.14	%
Net Income Of Revenues	1.83	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	9.83
Fixed Assets Turnover	13.23
Current Assets Turnover	3.28
Net Working Capital Turnover
Inventory Turnover	24.34
(Other Operating Ratios)
Total Assets-to-Sales	0.38
Debtors-to-Sales	21.94	%
Debt Collection Period	80.08	Days

Computacenter Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
16 Mar 2022	Final	GBX	49.40	31/12/2020	31/12/2021	09/06/2022	10/06/2022	08/07/2022	66.30
09 Sep 2021	Interim	GBX	16.90	31/12/2020	31/12/2021	23/09/2021	24/09/2021	22/10/2021	-
16 Mar 2021	Final	GBX	38.40	31/12/2019	31/12/2020	03/06/2021	04/06/2021	02/07/2021	50.70
10 Sep 2020	Interim	GBX	12.30	31/12/2019	31/12/2020	24/09/2020	25/09/2020	23/10/2020	-
23 Aug 2019	Interim	GBX	10.10	31/12/2018	31/12/2019	12/09/2019	13/09/2019	11/10/2019	10.10
12 Mar 2019	Final	GBX	21.60	31/12/2017	31/12/2018	30/05/2019	31/05/2019	28/06/2019	30.30
24 Aug 2018	Interim	GBX	8.70	31/12/2017	31/12/2018	13/09/2018	14/09/2018	12/10/2018	-
13 Mar 2018	Final	GBX	18.70	31/12/2016	31/12/2017	31/05/2018	01/06/2018	29/06/2018	26.10
25 Aug 2017	Interim	GBX	7.40	31/12/2016	31/12/2017	14/09/2017	15/09/2017	13/10/2017	-
30 Mar 2017	Interim	GBX	15.00	31/12/2015	31/12/2016	11/05/2017	12/05/2017	09/06/2017	22.20
26 Aug 2016	Interim	GBX	7.20	31/12/2015	31/12/2016	15/09/2016	16/09/2016	14/10/2016	-
11 Mar 2016	Interim	GBX	15.00	31/12/2014	31/12/2015	23/03/2016	24/03/2016	05/04/2016	21.40
28 Aug 2015	Interim	GBX	6.40	31/12/2014	31/12/2015	17/09/2015	18/09/2015	16/10/2015	-
12 Mar 2015	Final	GBX	13.10	31/12/2013	31/12/2014	21/05/2015	22/05/2015	19/06/2015	19.80
29 Aug 2014	Interim	GBX	6.70	31/12/2013	31/12/2014	17/09/2014	19/09/2014	17/10/2014	-
11 Mar 2014	Final	GBX	12.30	31/12/2012	31/12/2013	21/05/2014	23/05/2014	20/06/2014	17.50
30 Aug 2013	Interim	GBX	5.20	31/12/2012	31/12/2013	18/09/2013	20/09/2013	18/10/2013	-
12 Mar 2013	Final	GBX	10.50	31/12/2011	31/12/2012	15/05/2013	17/05/2013	14/06/2013	15.50
31 Aug 2012	Interim	GBX	5.00	31/12/2011	31/12/2012	19/09/2012	21/09/2012	19/10/2012	-
13 Mar 2012	Final	GBX	10.50	31/12/2010	31/12/2011	16/05/2012	18/05/2012	15/06/2012	15.00
30 Aug 2011	Interim	GBX	4.50	31/12/2010	31/12/2011	14/09/2011	16/09/2011	14/10/2011	-
10 Mar 2011	Final	GBX	9.70	31/12/2009	31/12/2010	11/05/2011	13/05/2011	10/06/2011	13.20
27 Aug 2010	Interim	GBX	3.50	31/12/2009	31/12/2010	15/09/2010	17/09/2010	15/10/2010	-
11 Mar 2010	Final	GBX	8.00	31/12/2008	31/12/2009	17/03/2010	19/03/2010	01/04/2010	11.00
27 Aug 2009	Interim	GBX	3.00	30/12/2008	30/06/2009	09/09/2009	11/09/2009	09/10/2009	-
28 Aug 2008	Interim	GBX	2.70	30/12/2007	30/06/2008	17/09/2008	19/09/2008	16/10/2008	-
16 Apr 2008	Final	GBX	5.50	31/12/2006	31/12/2007	14/05/2008	16/05/2008	12/06/2008	8.00
11 Sep 2007	Interim	GBX	2.50	30/12/2006	30/06/2007	19/09/2007	21/09/2007	19/10/2007	-
13 Mar 2007	Final	GBX	5.00	31/12/2005	31/12/2006	02/05/2007	04/05/2007	31/05/2007	7.50
12 Sep 2006	Interim	GBX	2.50	30/12/2005	30/06/2006	20/09/2006	22/09/2006	20/10/2006	-
14 Mar 2006	Final	GBX	5.00	31/12/2004	31/12/2005	03/05/2006	05/05/2006	30/05/2006	9.00
13 Sep 2005	Interim	GBX	2.50	30/12/2004	30/06/2005	21/09/2005	23/09/2005	21/10/2005	-
15 Mar 2005	Final	GBX	5.20	31/12/2003	31/12/2004	04/05/2005	06/05/2005	31/05/2005	9.00
07 Sep 2004	Interim	GBX	2.30	30/12/2003	30/06/2004	15/09/2004	17/09/2004	15/10/2004	-
16 Mar 2004	Final	GBX	5.00	31/12/2002	31/12/2003	05/05/2004	07/05/2004	01/06/2004	8.40
02 Sep 2003	Interim	GBX	2.00	30/12/2002	30/06/2003	10/09/2003	12/09/2003	10/10/2003	-
12 Mar 2003	Final	GBX	5.80	31/12/2001	31/12/2002	30/04/2003	02/05/2003	30/05/2003	6.96
13 Mar 2002	Final	GBX	2.90	31/12/2000	31/12/2001	01/05/2002	03/05/2002	30/05/2002	3.48
14 Mar 2001	Final	GBX	2.90	31/12/1999	31/12/2000	02/05/2001	04/05/2001	23/05/2001	3.48
14 Mar 2000	Final	GBX	2.90	31/12/1998	31/12/1999	02/05/2000	08/05/2000	29/05/2000	3.48
16 Mar 1999	Final	GBX	2.50	31/12/1997	31/12/1998	26/04/1999	30/04/1999	21/05/1999	3.00

Computacenter Fundamentals

	31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)		31 Dec 2021 (GBP)
turnover	4,352.57	100.00%	5,052.78	100.00%	5,441.26	100.00%	6,725.80	100.00%	m
pre tax profit	108.13	2.48%	140.96	2.79%	206.57	3.80%	248.00	3.69%	m
attributable profit	80.93	1.86%	101.66	2.01%	153.75	2.83%	185.30	2.76%	m
retained profit	50.05	1.15%	65.89	1.30%	139.81	2.57%	122.90	1.83%	m
eps - basic (p)	71.40		90.30		136.20		164.00
eps - diluted (p)	70.10		89.00		133.80		160.90
dividends per share	30.30		10.10		50.70		66.30

Computacenter Balance Sheet

	31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)		31 Dec 2021 (GBP)


	31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)		31 Dec 2021 (GBP)
ASSETS
fixed assets	106.27	5.42%	212.32	11.08%	106.97	4.45%	228.10	8.40%	m
intangibles	184.61	9.42%	175.67	9.16%	404.35	16.83%	273.70	10.09%	m
fixed investments	0.06	0.00%	0.05	0.00%	0.06	0.00%	3.90	0.14%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	99.52	5.08%	122.19	6.37%	211.28	8.80%	341.30	12.58%	m
debtors	1,368.57	69.84%	1,188.75	62.02%	1,369.36	57.01%	1,581.70	58.28%	m
cash & securities	200.44	10.23%	217.88	11.37%	309.84	12.90%	285.20	10.51%	m

TOTAL	1,959.48	100%	1,916.87	100%	2,401.87	100%	2,713.90	100%	m

LIABILITIES
creditors - short	1,351.13	68.95%	1,257.77	65.62%	1,586.20	66.04%	1,783.70	65.72%	m
creditors - long	160.57	8.19%	166.61	8.69%	184.74	7.69%	185.40	6.83%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1,511.71	77.15%	1,424.38	74.31%	1,770.94	73.73%	1,969.10	72.56%	m

EQUITY
ord cap, reserves	447.76	22.85%	492.56	25.70%	627.80	26.14%	740.50	27.29%	m
prefs, minorities	0.02	0.00%	-0.08	-0.00%	3.12	0.13%	4.30	0.16%	m

TOTAL	447.77	22.85%	492.48	25.69%	630.92	26.27%	744.80	27.44%	m

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

Computacenter Cash Flow Statement

	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)	31 Dec 2020 (GBP)	31 Dec 2021 (GBP)
Operating CF	115.22	202.01	236.80	224.30	m
Pre-Financing CF	9.27	171.25	181.33	199.30	m
Retained CF	-7.74	24.39	84.76	-29.10	m

Computacenter Brokers

Name	Activity	Type	Mnemonic	Code
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
CREDIT SUISSE SEC (EUROPE) LTD	Market Maker(MME)	Broker/Dealer	CSFB	CSFBGB2L
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
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
Piper Jaffray Ltd	Market Maker(MME)	Broker/Dealer	PIPR	PIPRGB21
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
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