Elementis (ELM)

Company name:	Elementis Plc
EPIC:	ELM	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB0002418548
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.elementis.com/	Description:	ORD 5P
Industry Sector:	CHEMICALS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
77.00	2.7 [3.63]	77.00	77.25	72.50	77.25	72.50	1,167,653
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
447.22	580.80	0.11	6.27	2.11	12.29	2.74	185.70 - 18.07

Elementis Key Figures

(at previous day's close)
Market Cap.	447.22	m
Shares In Issue	580.80	m
Prev. Close	74.30
PE Ratio	12.29
Dividend Yield	2.74	%
EPS - basic	6.27	p
Dividend PS	2.11	p
Dividend Cover	-
Cash Flow PS	18.62	p
Return On Equity (ROE)	5.12	%
Operating Margin	6.98	%
PEG Factor	9.71
EPS Growth Rate	1.27	%
Dividends PS Growth Rate	-66.67	%
Net Debt	674.94	m
Gross Gearing	52.44	%
Quick Assets	194.01	m
Net Working Capital	188.89	m
Intangibles / Fixed Assets	64.77	%
Turnover PS	113.42	p
Pre-Tax Profit PS	7.92	p
Retained Profit PS	-0.38	p
Cash PS	13.49	p
Net Cash PS	-9.30	p
Net Tangible Asset Value PS *	-6.74	p
Net Asset Value PS	117.65	p
Spread	0.25 (0.32%)
* 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.

Elementis Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	77.25	71.90
4 weeks	78.70	70.00
12 weeks	80.00	59.05
1 year	185.70	18.07

Share Price Chart (5 years)

Elementis Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	76.50	0.50	0.65	71.90	1.32		74.44
4 weeks	71.70	5.30	7.39	70.00	1.26		74.63
12 weeks	65.00	12.00	18.46	59.05	1.40		71.32
26 weeks	51.00	26.00	50.98	42.46	2.58		64.56
1 year	144.40	-67.40	-46.68	18.07	2.58		83.11
3 years	269.10	-192.10	-71.39	18.07	1.56		140.76
5 years	217.10	-140.10	-64.53	18.07	1.32		172.34
† periods calculated are whole weeks rather than calendar months

Elementis Key Management Ratios

Elementis Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	8.34
PE Ratio	12.29
Tobin's Q Ratio	0.23
Tobin's Q Ratio (excl. intangibles)	0.47
Dividend Yield	2.74	%
Market-to-Book Ratio	0.65
Price-to-Pre-Tax Profit PS	9.72
Price-to-Retained Profit PS	-204.52
Price-to-Cash Flow PS	4.14
Price-to-Sales PS	0.68
Price-to-Net Tangible Asset Value PS	-11.43
Price-to-Cash PS	5.71
Net Working Capital PS	32.52
Price Pct to Working Capital PS	2.37	%
Earnings Yield	8.14	%
Average PE	17.35
Years in average	5
PE to PE average	70.81	%

Elementis Financial Ratios

(Leverage Ratios)
Debt Ratio	47.61	%
Debt-to-Equity Ratio	0.91
Debt-to-Equity Ratio (excl. Intgbl)	-15.87
Debt-to-Equity Market Value	1.39
Net Gearing	46.98	%
Net Gearing (excl. Intangibles)	94.51	%
Gross Gearing	52.44	%
Gross Gearing (excl. Intangibles)	105.48	%
Gearing Under 1 Year	9.21	%
Gearing Under 1 Year (excl. Intgbl)	18.53	%
Assets/Equity	2.10
Cash/Equity	11.47
(Liquidity Ratios)
Net Working Capital to Total Assets	13.15	%
Current Ratio	2.43
Quick Ratio (Acid Test)	1.47
Liquidity Ratio	0.59
Cash & Equiv/Current Assets	24.39	%
(Solvency Ratios)
Enterprise Value	989.82	m
CFO/Sales	0.16
CFO/Attributable Profit	3.09
CFO/Assets	0.08
CFO/Debt	0.14
Total Debt/Equity Market Value	1.68
Total Debt/Sales	1.14
Total Debt/Pre-Tax Profit	16.38
Total Debt	753.28	m
Total Debt/Net Current Assets	3.99	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	11

Beta (60-Mnth)	Beta (36-Mnth)
0.1102	0.1827

Elementis Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	3.53	%
Return On Assets (ROA)	1.83	%
Net Profit Margin	5.31	%
Assets Turnover	0.34
Return On Equity (ROE)	5.12	%
Return On Investment (ROI)	2.01	%
Dividend Payout Ratio	35.00	%
Plowback Ratio	65.00	%
Growth from Plowback Ratio	2.50	%
Net Income Of Revenues	-0.33	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.72
Fixed Assets Turnover	0.45
Current Assets Turnover	1.48
Net Working Capital Turnover
Inventory Turnover	3.69
(Other Operating Ratios)
Total Assets-to-Sales	2.90
Debtors-to-Sales	25.05	%
Debt Collection Period	91.43	Days

Elementis Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
30 Jul 2019	Interim	USX	2.80	31/12/2018	31/12/2019	05/09/2019	06/09/2019	27/09/2019	2.80
05 Mar 2019	Final	USX	5.45	31/12/2017	31/12/2018	02/05/2019	03/05/2019	31/05/2019	8.40
31 Jul 2018	Interim	USX	2.95	31/12/2017	31/12/2018	30/08/2018	31/08/2018	28/09/2018	-
27 Feb 2018	Final	USX	6.10	31/12/2016	31/12/2017	03/05/2018	04/05/2018	01/06/2018	8.80
01 Aug 2017	Interim	USX	2.70	31/12/2016	31/12/2017	07/09/2017	08/09/2017	29/09/2017	-
01 Mar 2017	Special	USX	8.35	31/12/2015	31/12/2016	27/04/2017	28/04/2017	26/05/2017	-
01 Mar 2017	Final	USX	2.70	31/12/2015	31/12/2016	27/04/2017	28/04/2017	26/05/2017	16.80
02 Aug 2016	Interim	USX	2.70	31/12/2015	31/12/2016	08/09/2016	09/09/2016	30/09/2016	-
01 Mar 2016	Final	USX	5.75	31/12/2014	31/12/2015	28/04/2016	29/04/2016	27/05/2016	16.45
01 Mar 2016	Special	USX	8.00	31/12/2014	31/12/2015	28/04/2016	29/04/2016	27/05/2016	-
28 Jul 2015	Interim	USX	2.70	31/12/2014	31/12/2015	10/09/2015	11/09/2015	02/10/2015	-
24 Feb 2015	Special	USX	6.95	31/12/2013	31/12/2014	23/04/2015	24/04/2015	22/05/2015	-
24 Feb 2015	Final	USX	5.75	31/12/2013	31/12/2014	23/04/2015	24/04/2015	22/05/2015	15.40
29 Jul 2014	Interim	USX	2.70	31/12/2013	31/12/2014	10/09/2014	12/09/2014	03/10/2014	-
25 Feb 2014	Special	USX	5.86	31/12/2012	31/12/2013	30/04/2014	02/05/2014	30/05/2014	-
25 Feb 2014	Final	USX	5.50	31/12/2012	31/12/2013	30/04/2014	02/05/2014	30/05/2014	13.93
30 Jul 2013	Interim	USX	2.57	31/12/2012	31/12/2013	04/09/2013	06/09/2013	04/10/2013	-
26 Feb 2013	Final	USX	5.32	31/12/2011	31/12/2012	01/05/2013	03/05/2013	31/05/2013	12.56
26 Feb 2013	Special	USX	4.79	31/12/2011	31/12/2012	01/05/2013	03/05/2013	31/05/2013	-
31 Jul 2012	Interim	USX	2.45	31/12/2011	31/12/2012	05/09/2012	07/09/2012	05/10/2012	-
28 Feb 2012	Final	USX	4.66	31/12/2010	31/12/2011	02/05/2012	04/05/2012	01/06/2012	7.00
02 Aug 2011	Interim	USX	2.34	31/12/2010	31/12/2011	07/09/2011	09/09/2011	07/10/2011	-
01 Mar 2011	Final	USX	1.60	31/12/2009	31/12/2010	04/05/2011	06/05/2011	03/06/2011	3.10
02 Aug 2010	Interim	USX	1.50	31/12/2009	31/12/2010	08/09/2010	10/09/2010	08/10/2010	-
23 Feb 2010	Final	USX	1.40	31/12/2008	31/12/2009	28/04/2010	30/04/2010	28/05/2010	2.90
03 Aug 2009	Interim	USX	1.50	30/12/2008	30/06/2009	09/09/2009	11/09/2009	09/10/2009	-
24 Feb 2009	Final	USX	1.40	31/12/2007	31/12/2008	22/04/2009	24/04/2009	22/05/2009	2.90
28 Jul 2008	Interim	USX	1.50	30/12/2007	30/06/2008	10/09/2008	12/09/2008	10/10/2008	-
16 Feb 2008	Final	USX	1.40	31/12/2006	31/12/2007	30/04/2008	02/05/2008	30/05/2008	2.70
31 Jul 2007	Interim	USX	1.30	30/12/2006	30/06/2007	05/09/2007	07/09/2007	05/10/2007	-
25 Feb 2007	Final	USX	1.20	31/12/2005	31/12/2006	04/04/2007	10/04/2007	08/05/2007	2.40
31 Jul 2006	Interim	USX	1.20	30/12/2005	30/06/2006	04/10/2006	06/10/2006	03/11/2006	-
22 Feb 2006	Final	USX	1.10	31/12/2004	31/12/2005	05/04/2006	07/04/2006	05/05/2006	1.10
28 Feb 2001	Final	USX	-	31/12/1999	31/12/2000	-	-	-	-
29 Feb 2000	Final	USX	-	31/12/1998	31/12/1999	-	-	-	2.00
05 Aug 1999	Interim	USX	2.00	30/12/1998	30/06/1999	11/10/1999	15/10/1999	09/11/1999	-
04 Mar 1999	Final	USX	3.00	31/12/1997	31/12/1998	15/03/1999	19/03/1999	04/05/1999	5.00
06 Aug 1998	Interim	USX	2.00	30/12/1997	30/06/1998	12/10/1998	16/10/1998	10/11/1998	-

Elementis Fundamentals

	31 Dec 2016 (USD)		31 Dec 2017 (USD)		31 Dec 2018 (USD)		31 Dec 2019 (USD)
turnover	659.50	100.00%	782.70	100.00%	822.20	100.00%	873.60	100.00%	m
pre tax profit	75.50	11.45%	78.50	10.03%	65.40	7.95%	61.00	6.98%	m
attributable profit	68.10	10.33%	117.60	15.02%	41.40	5.04%	46.40	5.31%	m
retained profit	-8.10	-1.23%	39.80	5.08%	-0.50	-0.06%	-2.90	-0.33%	m
eps - basic	14.70		25.40		7.90		8.00
eps - diluted	14.60		25.00		7.90		7.90
dividends per share	16.80		8.80		8.40		2.80

Elementis Balance Sheet

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


	31 Dec 2016 (USD)		31 Dec 2017 (USD)		31 Dec 2018 (USD)		31 Dec 2019 (USD)
ASSETS
fixed assets	217.30	23.72%	219.50	16.38%	478.20	24.93%	513.60	26.96%	m
intangibles	359.90	39.28%	717.20	53.53%	976.60	50.91%	958.10	50.29%	m
fixed investments	-	-%	0.90	0.07%	2.00	0.10%	7.50	0.39%	m
current assets - other	-	-%	58.20	4.34%	-	-%	-	-%	m
stocks	121.30	13.24%	143.60	10.72%	188.70	9.84%	168.70	8.85%	m
debtors	135.10	14.75%	145.30	10.85%	176.60	9.21%	153.40	8.05%	m
cash & securities	82.60	9.02%	55.00	4.11%	96.10	5.01%	103.90	5.45%	m

TOTAL	916.20	100%	1,339.70	100%	1,918.20	100%	1,905.20	100%	m

LIABILITIES
creditors - short	120.50	13.15%	145.30	10.85%	167.90	8.75%	175.50	9.21%	m
creditors - long	168.60	18.40%	469.20	35.02%	834.70	43.51%	823.50	43.22%	m
creditors - other	-	-%	22.90	1.71%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	289.10	31.55%	637.40	47.58%	1,002.60	52.27%	999.00	52.44%	m

EQUITY
ord cap, reserves	627.10	68.45%	702.30	52.42%	915.60	47.73%	906.20	47.56%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	627.10	68.45%	702.30	52.42%	915.60	47.73%	906.20	47.56%	m

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

Elementis Cash Flow Statement

	31 Dec 2016 (USD)	31 Dec 2017 (USD)	31 Dec 2018 (USD)	31 Dec 2019 (USD)
Operating CF	117.90	114.70	84.30	143.40	m
Pre-Financing CF	82.70	-288.60	-393.20	94.40	m
Retained CF	6.30	-31.80	45.90	8.80	m

Elementis Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC