Dignity (DTY)

Company name:	Dignity Plc
EPIC:	DTY	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB00BRB37M78
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.dignityfunerals.co.uk/	Description:	ORD 12 48/143P
Industry Sector:	GENERAL RETAILERS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
575.00	18.0 [3.23]	567.00	580.50	574.00	579.00	556.00	22,428
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
287.57	50.01	-1.51	63.00	24.38	9.13	4.24	765.00 - 455.20

Dignity Key Figures

(at previous day's close)
Market Cap.	287.57	m
Shares In Issue	50.01	m
Prev. Close	557.00
PE Ratio	9.13
Dividend Yield	4.24	%
EPS - basic	63.00	p
Dividend PS	24.38	p
Dividend Cover	2.58
Cash Flow PS	116.77	p
Return On Equity (ROE)	47.73	%
Operating Margin	12.83	%
PEG Factor	-0.20
EPS Growth Rate	-45.60	%
Dividends PS Growth Rate	-	%
Net Debt	636.10	m
Gross Gearing	91.42	%
Quick Assets	99.80	m
Net Working Capital	23.60	m
Intangibles / Fixed Assets	58.26	%
Turnover PS	631.04	p
Pre-Tax Profit PS	80.98	p
Retained Profit PS	38.59	p
Cash PS	133.77	p
Net Cash PS	-35.59	p
Net Tangible Asset Value PS *	-637.64	p
Net Asset Value PS	131.97	p
Spread	13.50 (2.33%)
* 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.

Dignity Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	595.00	556.00
4 weeks	615.00	552.50
12 weeks	620.00	485.60
1 year	765.00	455.20

Share Price Chart (5 years)

Dignity Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	570.00	5.00	0.88	556.00	0.05		575.59
4 weeks	593.00	-18.00	-3.04	552.50	0.05		587.34
12 weeks	563.00	12.00	2.13	485.60	0.05		579.30
26 weeks	642.00	-67.00	-10.44	455.20	0.07		546.02
1 year	682.00	-107.00	-15.69	455.20	0.13		660.80
3 years	2,434.00	-1,859.00	-76.38	455.20	0.26		1,213.45
5 years	1,816.00	-1,241.00	-68.34	455.20	0.19		1,420.60
† periods calculated are whole weeks rather than calendar months

Dignity Key Management Ratios

Dignity Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	16.14
PE Ratio	9.13
Tobin's Q Ratio	0.38
Tobin's Q Ratio (excl. intangibles)	0.78
Dividend Yield	4.24	%
Market-to-Book Ratio	4.36
Price-to-Pre-Tax Profit PS	7.10
Price-to-Retained Profit PS	14.90
Price-to-Cash Flow PS	4.92
Price-to-Sales PS	0.91
Price-to-Net Tangible Asset Value PS	-0.90
Price-to-Cash PS	4.30
Net Working Capital PS	47.19
Price Pct to Working Capital PS	12.19	%
Earnings Yield	10.96	%
Average PE	17.33
Years in average	4
PE to PE average	52.68	%

Dignity Financial Ratios

(Leverage Ratios)
Debt Ratio	90.36	%
Debt-to-Equity Ratio	9.37
Debt-to-Equity Ratio (excl. Intgbl)	-1.94
Debt-to-Equity Market Value	2.15
Net Gearing	82.72	%
Net Gearing (excl. Intangibles)	165.61	%
Gross Gearing	91.42	%
Gross Gearing (excl. Intangibles)	183.03	%
Gearing Under 1 Year	11.01	%
Gearing Under 1 Year (excl. Intgbl)	22.05	%
Assets/Equity	11.65
Cash/Equity	101.36
(Liquidity Ratios)
Net Working Capital to Total Assets	3.07	%
Current Ratio	1.28
Quick Ratio (Acid Test)	1.18
Liquidity Ratio	0.79
Cash & Equiv/Current Assets	61.77	%
(Solvency Ratios)
Enterprise Value	838.97	m
CFO/Sales	0.19
CFO/Attributable Profit	1.85
CFO/Assets	0.08
CFO/Debt	0.08
Total Debt/Equity Market Value	2.44
Total Debt/Sales	2.23
Total Debt/Pre-Tax Profit	17.36
Total Debt	703.00	m
Total Debt/Net Current Assets	29.79	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	4.19	%
Earn drops > 5% in 10yrs	3

Beta (60-Mnth)	Beta (36-Mnth)
-1.5108	0.8197

Dignity Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	5.92	%
Return On Assets (ROA)	4.17	%
Net Profit Margin	9.98	%
Assets Turnover	0.42
Return On Equity (ROE)	47.73	%
Return On Investment (ROI)	4.64	%
Dividend Payout Ratio	38.70	%
Plowback Ratio	61.30	%
Growth from Plowback Ratio	34.36	%
Net Income Of Revenues	6.12	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	5.62
Fixed Assets Turnover	0.48
Current Assets Turnover	3.11
Net Working Capital Turnover
Inventory Turnover	39.95
(Other Operating Ratios)
Total Assets-to-Sales	2.39
Debtors-to-Sales	11.28	%
Debt Collection Period	41.17	Days

Dignity Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
13 Mar 2019	Final	GBX	15.74	28/12/2017	28/12/2018	16/05/2019	17/05/2019	13/06/2019	24.38
01 Aug 2018	Interim	GBX	8.64	29/12/2017	29/06/2018	20/09/2018	21/09/2018	26/10/2018	-
14 Mar 2018	Final	GBX	15.74	31/12/2016	31/12/2017	18/05/2018	19/05/2018	29/06/2018	24.38
02 Aug 2017	Interim	GBX	8.64	30/12/2016	30/06/2017	20/09/2017	21/09/2017	27/10/2017	-
08 Mar 2017	Final	GBX	15.74	30/12/2015	30/12/2016	18/05/2017	19/05/2017	08/06/2017	23.59
02 Mar 2016	Final	GBX	14.31	25/12/2015	25/12/2016	19/05/2016	20/05/2016	24/06/2016	21.45
27 Jul 2016	Interim	GBX	7.85	24/12/2015	24/06/2016	22/09/2016	23/09/2016	28/10/2016	-
29 Jul 2015	Interim	GBX	7.14	26/12/2014	26/06/2015	24/09/2015	25/09/2015	30/10/2015	-
04 Mar 2015	Final	GBX	11.83	26/12/2013	26/12/2014	28/05/2015	29/05/2015	26/06/2015	18.32
30 Jul 2014	Interim	GBX	6.49	27/12/2013	27/06/2014	24/09/2014	26/09/2014	31/10/2014	-
05 Mar 2014	Final	GBX	11.83	27/12/2012	27/12/2013	21/05/2014	23/05/2014	05/06/2014	11.83
06 Mar 2013	Final	GBX	10.75	28/12/2011	28/12/2012	22/05/2013	24/05/2013	28/06/2013	16.11
31 Jul 2012	Interim	GBX	5.36	29/12/2011	29/06/2012	26/09/2012	28/09/2012	26/10/2012	-
07 Mar 2012	Final	GBX	9.77	30/12/2010	30/12/2011	23/05/2012	25/05/2012	29/06/2012	14.64
27 Jul 2011	Interim	GBX	4.87	01/01/2011	01/07/2011	28/09/2011	30/09/2011	28/10/2011	-
10 Mar 2011	Final	GBX	8.88	31/12/2009	31/12/2010	25/05/2011	27/05/2011	24/06/2011	13.31
30 Jul 2010	Interim	GBX	4.43	25/12/2009	25/06/2010	27/09/2010	29/09/2010	29/10/2010	-
13 Mar 2010	Final	GBX	8.07	25/12/2008	25/12/2009	24/05/2010	26/05/2010	25/06/2010	12.10
29 Jul 2009	Interim	GBX	4.03	30/12/2008	30/06/2009	30/09/2009	02/10/2009	30/10/2009	-
13 Mar 2009	Final	GBX	7.34	26/12/2007	26/12/2008	27/05/2009	29/05/2009	26/06/2009	11.00
29 Jul 2008	Interim	GBX	3.66	30/12/2007	30/06/2008	26/09/2008	26/09/2008	31/10/2008	-
13 Mar 2008	Final	GBX	6.67	28/12/2006	28/12/2007	04/06/2008	06/06/2008	27/06/2008	10.00
13 Sep 2007	Interim	GBX	3.33	30/12/2006	30/06/2007	19/09/2007	21/09/2007	26/10/2007	-
20 Mar 2007	Final	GBX	6.06	31/12/2005	31/12/2006	06/06/2007	08/06/2007	29/06/2007	9.09
14 Sep 2006	Interim	GBX	3.03	30/12/2005	30/06/2006	27/09/2006	29/09/2006	27/10/2006	-
21 Mar 2006	Final	GBX	-	30/12/2004	30/12/2005	-	-	-	3.54
15 Sep 2005	Interim	GBX	2.75	30/12/2004	30/06/2005	05/10/2005	07/10/2005	28/10/2005	-
03 Mar 2005	Final	GBX	3.75	31/12/2003	31/12/2004	04/05/2005	06/05/2005	31/05/2005	7.23
06 Aug 2004	Interim	GBX	1.88	25/12/2003	25/06/2004	18/08/2004	20/08/2004	29/10/2004	-

Dignity Fundamentals

	25 Dec 2015 (GBP)		30 Dec 2016 (GBP)		29 Dec 2017 (GBP)		28 Dec 2018 (GBP)
turnover	305.30	100.00%	313.60	100.00%	324.00	100.00%	315.60	100.00%	m
pre tax profit	69.00	22.60%	71.20	22.70%	71.20	21.98%	40.50	12.83%	m
attributable profit	56.90	18.64%	57.20	18.24%	57.80	17.84%	31.50	9.98%	m
retained profit	46.90	15.36%	46.20	14.73%	45.60	14.07%	19.30	6.12%	m
eps - basic (p)	115.20		115.30		115.80		63.00
eps - diluted (p)	114.50		114.60		115.60		63.00
dividends per share	-		23.59		-		24.38

Dignity Balance Sheet

	25 Dec 2015 (GBP)		30 Dec 2016 (GBP)		29 Dec 2017 (GBP)		28 Dec 2018 (GBP)


	25 Dec 2015 (GBP)		30 Dec 2016 (GBP)		29 Dec 2017 (GBP)		28 Dec 2018 (GBP)
ASSETS
fixed assets	200.60	29.67%	235.40	32.92%	248.00	33.39%	254.10	33.04%	m
intangibles	328.20	48.54%	358.10	50.08%	385.50	51.91%	384.90	50.05%	m
fixed investments	10.30	1.52%	11.30	1.58%	14.30	1.93%	21.70	2.82%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	6.40	0.95%	6.10	0.85%	7.30	0.98%	8.50	1.11%	m
debtors	31.90	4.72%	37.00	5.17%	38.30	5.16%	32.90	4.28%	m
cash & securities	98.80	14.61%	67.10	9.38%	49.30	6.64%	66.90	8.70%	m

TOTAL	676.20	100%	715.00	100%	742.70	100%	769.00	100%	m

LIABILITIES
creditors - short	82.70	12.23%	75.10	10.50%	70.00	9.43%	84.70	11.01%	m
creditors - long	637.40	94.26%	643.40	89.99%	626.30	84.33%	618.30	80.40%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	720.10	106.49%	718.50	100.49%	696.30	93.75%	703.00	91.42%	m

EQUITY
ord cap, reserves	-43.90	-6.49%	-3.50	-0.49%	46.40	6.25%	66.00	8.58%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	-43.90	-6.49%	-3.50	-0.49%	46.40	6.25%	66.00	8.58%	m

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

Dignity Cash Flow Statement

	25 Dec 2015 (GBP)	30 Dec 2016 (GBP)	29 Dec 2017 (GBP)	28 Dec 2018 (GBP)
Operating CF	92.60	81.10	75.00	58.40	m
Pre-Financing CF	23.50	3.00	19.30	22.30	m
Retained CF	5.00	-15.10	-17.80	1.00	m

Dignity Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Investec Bank Plc	Market Maker(MME)	Broker/Dealer	INV.	IHCSGB21002
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
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