Dialight (DIA)

Company name:	Dialight Plc
Company Description:	A group engaged in LED Applications operating in two segments being Components and signals/illumination
EPIC:	DIA	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB0033057794
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.dialight.com/	Description:	ORD 1.89P
Industry Sector:	ELECTRONIC & ELECTRICAL EQUIPMENT

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
265.00	5.0 [1.92]	260.00	270.00	260.00	260.00	258.00	27,537
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
86.22	32.53	0.07	16.40	-	16.16	-	572.00 - 233.00

Dialight Key Figures

(at previous day's close)
Market Cap.	86.22	m
Shares In Issue	32.53	m
Prev. Close	260.00
PE Ratio	16.16
Dividend Yield	-	%
EPS - basic	16.40	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	-28.59	p
Return On Equity (ROE)	6.14	%
Operating Margin	4.36	%
PEG Factor	0.07
EPS Growth Rate	241.67	%
Dividends PS Growth Rate	-	%
Net Debt	36.00	m
Gross Gearing	30.98	%
Quick Assets	45.70	m
Net Working Capital	54.00	m
Intangibles / Fixed Assets	52.22	%
Turnover PS	521.30	p
Pre-Tax Profit PS	22.75	p
Retained Profit PS	15.98	p
Cash PS	6.76	p
Net Cash PS	-109.12	p
Net Tangible Asset Value PS *	209.63	p
Net Asset Value PS	261.57	p
Spread	10.00 (3.70%)
* 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.

Dialight Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	266.00	240.00
4 weeks	320.50	233.00
12 weeks	355.00	233.00
1 year	572.00	233.00

Share Price Chart (5 years)

Dialight Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	240.00	25.00	10.42	240.00	0.02		258.34
4 weeks	311.00	-46.00	-14.79	233.00	0.08		258.05
12 weeks	350.50	-85.50	-24.39	233.00	0.05		298.96
26 weeks	477.00	-212.00	-44.44	233.00	0.08		321.92
1 year	298.00	-33.00	-11.07	233.00	0.06		357.43
3 years	746.50	-481.50	-64.50	233.00	0.06		601.42
5 years	758.00	-493.00	-65.04	233.00	0.06		599.36
† periods calculated are whole weeks rather than calendar months

Dialight Key Management Ratios

Dialight Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	-
PE Ratio	16.16
Tobin's Q Ratio	0.75
Tobin's Q Ratio (excl. intangibles)	0.87
Dividend Yield	-	%
Market-to-Book Ratio	1.02
Price-to-Pre-Tax Profit PS	11.65
Price-to-Retained Profit PS	16.58
Price-to-Cash Flow PS	-9.27
Price-to-Sales PS	0.51
Price-to-Net Tangible Asset Value PS	1.26
Price-to-Cash PS	39.19
Net Working Capital PS	165.98
Price Pct to Working Capital PS	1.60	%
Earnings Yield	6.19	%
Average PE	55.51
Years in average	3
PE to PE average	29.11	%

Dialight Financial Ratios

(Leverage Ratios)
Debt Ratio	0.58	%
Debt-to-Equity Ratio	0.01
Debt-to-Equity Ratio (excl. Intgbl)	0.01
Debt-to-Equity Market Value	0.01
Net Gearing	29.20	%
Net Gearing (excl. Intangibles)	33.71	%
Gross Gearing	30.98	%
Gross Gearing (excl. Intangibles)	35.77	%
Gearing Under 1 Year	30.58	%
Gearing Under 1 Year (excl. Intgbl)	35.30	%
Assets/Equity	1.45
Cash/Equity	2.59
(Liquidity Ratios)
Net Working Capital to Total Assets	43.80	%
Current Ratio	2.43
Quick Ratio (Acid Test)	1.21
Liquidity Ratio	0.06
Cash & Equiv/Current Assets	2.40	%
(Solvency Ratios)
Enterprise Value	84.92	m
CFO/Sales	-0.05
CFO/Attributable Profit	-
CFO/Assets	-0.08
CFO/Debt	-0.24
Total Debt/Equity Market Value	0.44
Total Debt/Sales	0.23
Total Debt/Pre-Tax Profit	5.16
Total Debt	38.20	m
Total Debt/Net Current Assets	0.71	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	8

Beta (60-Mnth)	Beta (36-Mnth)
0.0749	0.2236

Dialight Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	8.64	%
Return On Assets (ROA)	4.54	%
Net Profit Margin	3.07	%
Assets Turnover	1.48
Return On Equity (ROE)	6.14	%
Return On Investment (ROI)	6.40	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	6.48	%
Net Income Of Revenues	3.07	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	2.11
Fixed Assets Turnover	5.62
Current Assets Turnover	2.01
Net Working Capital Turnover
Inventory Turnover	4.80
(Other Operating Ratios)
Total Assets-to-Sales	0.68
Debtors-to-Sales	24.56	%
Debt Collection Period	89.64	Days

Dialight Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
02 Mar 2015	Final	GBX	9.80	31/12/2013	31/12/2014	30/04/2015	01/05/2015	02/06/2015	15.00
21 Jul 2014	Interim	GBX	5.20	31/12/2013	31/12/2014	03/09/2014	05/09/2014	06/10/2014	-
24 Feb 2014	Final	GBX	9.50	31/12/2012	31/12/2013	30/04/2014	02/05/2014	03/06/2014	14.40
22 Jul 2013	Interim	GBX	4.90	31/12/2012	31/12/2013	07/08/2013	09/08/2013	06/09/2013	-
25 Feb 2013	Final	GBX	9.50	31/12/2011	31/12/2012	10/04/2013	12/04/2013	08/05/2013	13.50
23 Jul 2012	Interim	GBX	4.00	31/12/2011	31/12/2012	08/08/2012	10/08/2012	07/09/2012	-
27 Feb 2012	Final	GBX	6.70	31/12/2010	31/12/2011	08/04/2012	10/04/2012	09/05/2012	10.00
25 Jul 2011	Interim	GBX	3.30	31/12/2010	31/12/2011	10/08/2011	12/08/2011	08/09/2011	-
14 Feb 2011	Final	GBX	5.20	31/12/2009	31/12/2010	06/04/2011	08/04/2011	06/05/2011	8.00
26 Jul 2010	Interim	GBX	2.80	31/12/2009	31/12/2010	04/08/2010	06/08/2010	16/09/2010	-
03 Mar 2010	Final	GBX	4.30	31/12/2008	31/12/2009	10/03/2010	12/03/2010	01/04/2010	6.60
27 Jul 2009	Interim	GBX	2.30	30/12/2008	30/06/2009	05/08/2009	07/08/2009	17/09/2009	-
02 Mar 2009	Final	GBX	3.90	31/12/2007	31/12/2008	11/03/2009	13/03/2009	15/05/2009	6.00
29 Jul 2008	Interim	GBX	2.10	30/12/2007	30/06/2008	06/08/2008	08/08/2008	18/09/2008	-
03 Mar 2008	Final	GBX	3.80	31/12/2006	31/12/2007	12/03/2008	14/03/2008	09/05/2008	5.70
29 Jun 2007	Interim	GBX	1.41	30/12/2006	30/06/2007	27/06/2007	29/06/2007	10/07/2007	-
02 Mar 2007	Final	GBX	3.50	31/12/2005	31/12/2006	14/03/2007	16/03/2007	12/05/2007	5.25
18 Sep 2006	Interim	GBX	1.75	30/12/2005	30/06/2006	27/09/2006	29/09/2006	26/10/2006	-
13 Mar 2006	Final	GBX	6.40	31/12/2004	31/12/2005	22/03/2006	24/03/2006	12/05/2006	6.40
09 Sep 2005	Interim	GBX	3.40	30/12/2004	30/06/2005	21/09/2005	23/09/2005	20/10/2005	-
14 Mar 2005	Final	GBX	7.60	31/12/2003	31/12/2004	27/03/2005	29/03/2005	13/05/2005	11.00
15 Mar 2004	Final	GBX	6.90	31/12/2002	31/12/2003	24/04/2004	26/04/2004	30/04/2004	10.00
08 Sep 2003	Interim	GBX	3.10	30/12/2002	30/06/2003	17/09/2003	19/09/2003	16/10/2003	-
18 Mar 2003	Final	GBX	6.90	31/12/2001	31/12/2002	26/03/2003	28/03/2003	29/04/2003	10.00
17 Sep 2002	Interim	GBX	3.10	30/06/2001	30/06/2002	25/09/2002	27/09/2002	21/10/2002	-
18 Mar 2002	Final	GBX	6.90	31/12/2000	31/12/2001	27/03/2002	02/04/2002	30/04/2002	10.00
11 Sep 2001	Interim	GBX	3.10	30/12/2000	30/06/2001	19/09/2001	21/09/2001	18/10/2001	-
15 Mar 2001	Final	GBX	6.50	31/12/1999	31/12/2000	21/03/2001	23/03/2001	27/04/2001	9.50
19 Sep 2000	Interim	GBX	3.00	30/12/1999	30/06/2000	25/09/2000	29/09/2000	20/10/2000	-
13 Mar 2000	Final	GBX	5.90	31/12/1998	31/12/1999	20/03/2000	24/03/2000	25/04/2000	8.70
20 Sep 1999	Interim	GBX	2.80	30/12/1998	30/06/1999	27/09/1999	01/10/1999	27/10/1999	-
22 Mar 1999	Final	GBX	5.40	31/12/1997	31/12/1998	29/03/1999	06/04/1999	05/05/1999	8.00
21 Sep 1998	Interim	GBX	2.60	30/12/1997	30/06/1998	28/09/1998	02/10/1998	28/10/1998	-
23 Mar 1998	Final	GBX	4.90	31/12/1996	31/12/1997	30/03/1998	03/04/1998	08/05/1998	7.30

Dialight Fundamentals

	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)
turnover	161.40	100.00%	182.20	100.00%	181.00	100.00%	169.60	100.00%	m
pre tax profit	-3.90	-2.42%	-3.80	-2.09%	3.00	1.66%	7.40	4.36%	m
attributable profit	-2.00	-1.24%	-2.80	-1.54%	1.30	0.72%	5.20	3.07%	m
retained profit	-5.20	-3.22%	-2.80	-1.54%	1.30	0.72%	5.20	3.07%	m
eps - basic (p)	-6.40		-8.40		4.80		16.40
eps - diluted (p)	-6.30		-8.40		4.80		16.10
dividends per share	-		-		-		-

Dialight Balance Sheet

	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)


	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)
ASSETS
fixed assets	16.10	15.47%	15.90	13.68%	13.90	13.11%	14.70	11.92%	m
intangibles	20.00	19.21%	15.40	13.25%	13.90	13.11%	16.50	13.38%	m
fixed investments	-	-%	-	-%	1.00	0.94%	0.40	0.32%	m
current assets - other	-	-%	2.00	1.72%	-	-%	-	-%	m
stocks	26.90	25.84%	31.40	27.02%	24.60	23.21%	46.00	37.31%	m
debtors	35.60	34.20%	43.50	37.44%	39.80	37.55%	43.50	35.28%	m
cash & securities	5.50	5.28%	8.00	6.88%	12.80	12.08%	2.20	1.78%	m

TOTAL	104.10	100%	116.20	100%	106.00	100%	123.30	100%	m

LIABILITIES
creditors - short	33.30	31.99%	37.00	31.84%	29.00	27.36%	37.70	30.58%	m
creditors - long	0.70	0.67%	2.10	1.81%	0.90	0.85%	0.50	0.41%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	34.00	32.66%	39.10	33.65%	29.90	28.21%	38.20	30.98%	m

EQUITY
ord cap, reserves	70.20	67.44%	77.20	66.44%	75.80	71.51%	84.70	68.69%	m
prefs, minorities	-0.10	-0.10%	-0.10	-0.09%	0.30	0.28%	0.40	0.32%	m

TOTAL	70.10	67.34%	77.10	66.35%	76.10	71.79%	85.10	69.02%	m

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

Dialight Cash Flow Statement

	31 Dec 2015 (GBP)	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)
Operating CF	4.40	16.10	8.50	-9.30	m
Pre-Financing CF	-1.70	11.00	5.60	-15.70	m
Retained CF	-2.50	1.50	5.70	-10.60	m

Dialight Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC