Foresight Solar (FSFL)

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Capital at risk

Company name:	Foresight Solar Fund Limited
EPIC:	FSFL	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	JE00BD3QJR55
Market Segment:	STMM	Share Type:	DE
WWW Address:		Description:	ORD NPV
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
121.80	-0.4 [-0.33]	121.80	122.20	122.00	122.40	121.80	1,390,100
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
742.70	609.77	0.00	19.37	6.98	6.29	5.73	125.40 - 98.40

Foresight Solar Key Figures

(at previous day's close)
Market Cap.	742.70	m
Shares In Issue	609.77	m
Prev. Close	122.20
PE Ratio	6.29
Dividend Yield	5.73	%
EPS - basic	19.37	p
Dividend PS	6.98	p
Dividend Cover	2.78
Cash Flow PS	5.60	p
Return On Equity (ROE)	17.86	%
Operating Margin	309.70	%
PEG Factor	0.00
EPS Growth Rate	1,727.73	%
Dividends PS Growth Rate	1.01	%
Net Debt	-10.52	m
Gross Gearing	0.07	%
Quick Assets	71.34	m
Net Working Capital	70.90	m
Intangibles / Fixed Assets	-	%
Turnover PS	6.24	p
Pre-Tax Profit PS	19.33	p
Retained Profit PS	12.77	p
Cash PS	1.80	p
Net Cash PS	1.73	p
Net Tangible Asset Value PS *	108.24	p
Net Asset Value PS	108.20	p
Spread	0.40 (0.33%)
* 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.

Foresight Solar Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	123.00	121.20
4 weeks	125.40	116.20
12 weeks	125.40	113.80
1 year	125.40	98.40

Share Price Chart (5 years)

Foresight Solar Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	121.20	0.60	0.50	121.20	0.72		121.92
4 weeks	116.40	5.40	4.64	116.20	1.46		121.99
12 weeks	118.80	3.00	2.53	113.80	1.11		119.22
26 weeks	103.20	18.60	18.02	99.80	1.21		115.86
1 year	101.40	20.40	20.12	98.40	1.15		108.73
3 years	120.50	1.30	1.08	88.60	0.98		108.50
5 years	110.25	11.55	10.48	88.60	0.80		109.57
† periods calculated are whole weeks rather than calendar months

Foresight Solar Key Management Ratios

Foresight Solar Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	0.01
PE Ratio	6.29
Tobin's Q Ratio	1.20
Tobin's Q Ratio (excl. intangibles)	1.20
Dividend Yield	5.73	%
Market-to-Book Ratio	1.13
Price-to-Pre-Tax Profit PS	6.30
Price-to-Retained Profit PS	9.54
Price-to-Cash Flow PS	21.76
Price-to-Sales PS	19.51
Price-to-Net Tangible Asset Value PS	1.13
Price-to-Cash PS	67.74
Net Working Capital PS	11.63
Price Pct to Working Capital PS	10.48	%
Earnings Yield	15.90	%
Average PE	8.94
Years in average	3
PE to PE average	70.34	%

Foresight Solar Financial Ratios

(Leverage Ratios)
Debt Ratio	-	%
Debt-to-Equity Ratio	-
Debt-to-Equity Ratio (excl. Intgbl)	-
Debt-to-Equity Market Value	-
Net Gearing	-1.59	%
Net Gearing (excl. Intangibles)	-1.59	%
Gross Gearing	0.07	%
Gross Gearing (excl. Intangibles)	0.07	%
Gearing Under 1 Year	0.07	%
Gearing Under 1 Year (excl. Intgbl)	0.07	%
Assets/Equity	1.00
Cash/Equity	1.66
(Liquidity Ratios)
Net Working Capital to Total Assets	10.73	%
Current Ratio	160.68
Quick Ratio (Acid Test)	160.68
Liquidity Ratio	24.69
Cash & Equiv/Current Assets	15.37	%
(Solvency Ratios)
Enterprise Value	731.74	m
CFO/Sales	0.90
CFO/Attributable Profit	0.29
CFO/Assets	0.05
CFO/Debt	76.89
Total Debt/Equity Market Value	0.00
Total Debt/Sales	0.01
Total Debt/Pre-Tax Profit	0.00
Total Debt	0.44	m
Total Debt/Net Current Assets	0.01	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	17.09	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	2

Beta (60-Mnth)	Beta (36-Mnth)
0.0046	0.0040

Foresight Solar Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	17.86	%
Return On Assets (ROA)	18.97	%
Net Profit Margin	309.70	%
Assets Turnover	0.06
Return On Equity (ROE)	17.86	%
Return On Investment (ROI)	18.98	%
Dividend Payout Ratio	36.04	%
Plowback Ratio	63.96	%
Growth from Plowback Ratio	12.14	%
Net Income Of Revenues	204.49	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.06
Fixed Assets Turnover	0.07
Current Assets Turnover	0.50
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	16.33
Debtors-to-Sales	162.60	%
Debt Collection Period	593.49	Days

Foresight Solar Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
09 Mar 2022	Interim	GBX	1.74	31/12/2020	31/12/2021	21/04/2022	22/04/2022	27/05/2022	6.98
06 Dec 2021	Interim	GBX	1.75	30/05/2021	30/09/2021	27/01/2022	28/01/2022	28/02/2022	-
16 Sep 2021	Interim	GBX	1.75	30/12/2020	30/06/2021	28/10/2021	29/10/2021	26/11/2021	-
21 Jul 2021	Interim	GBX	1.74	01/12/2020	31/03/2021	29/07/2021	30/07/2021	27/08/2021	-
09 Mar 2021	Interim	GBX	1.73	31/12/2019	31/12/2020	29/04/2021	30/04/2021	28/05/2021	6.91
27 Jan 2021	Interim	GBX	1.73	30/05/2020	30/09/2020	04/02/2021	05/02/2021	05/03/2021	-
03 Sep 2020	Interim	GBX	1.73	30/12/2019	30/06/2020	29/10/2020	30/10/2020	27/11/2020	-
22 Jul 2020	Interim	GBX	1.72	01/12/2019	31/03/2020	30/07/2020	31/07/2020	28/08/2020	-
09 Mar 2020	Interim	GBX	1.69	31/12/2018	31/12/2019	30/04/2020	01/05/2020	29/05/2020	6.76
22 Jan 2020	Interim	GBX	1.69	30/05/2019	30/09/2019	30/01/2020	31/01/2020	28/02/2020	-
22 Aug 2019	Interim	GBX	1.69	30/12/2018	30/06/2019	24/10/2019	25/10/2019	29/11/2019	-
11 Jul 2019	Interim	GBX	1.69	01/12/2018	31/03/2019	25/07/2019	26/07/2019	30/08/2019	-
06 Mar 2019	Final	GBX	1.65	31/12/2017	31/12/2018	09/05/2019	10/05/2019	24/05/2019	6.58
23 Nov 2018	Interim	GBX	1.65	30/05/2018	30/09/2018	07/02/2019	08/02/2019	22/02/2019	-
22 Aug 2018	Interim	GBX	1.64	30/12/2017	30/06/2018	08/11/2018	09/11/2018	23/11/2018	-
30 Apr 2018	Interim	GBX	1.64	01/12/2017	31/03/2018	09/08/2018	10/08/2018	24/08/2018	-
22 Feb 2018	Final	GBX	1.58	31/12/2016	31/12/2017	10/05/2018	11/05/2018	25/05/2018	6.32
24 Nov 2017	Interim	GBX	1.58	30/05/2017	30/09/2017	08/02/2018	09/02/2018	23/02/2018	-
07 Sep 2017	Interim	GBX	1.58	30/12/2016	30/06/2017	09/11/2017	10/11/2017	24/11/2017	-
14 Jun 2017	Interim	GBX	1.58	01/12/2016	31/03/2017	10/08/2017	11/08/2017	25/08/2017	-
16 Feb 2017	Final	GBX	1.55	31/12/2015	31/12/2016	06/04/2017	07/04/2017	05/05/2017	6.17
18 Oct 2016	Interim	GBX	1.54	30/05/2016	30/09/2016	15/12/2016	16/12/2016	30/12/2016	-
15 Aug 2016	Interim	GBX	1.54	30/12/2015	30/06/2016	15/09/2016	16/09/2016	30/09/2016	-
03 May 2016	Interim	GBX	1.54	01/12/2015	31/03/2016	09/06/2016	10/06/2016	24/06/2016	-
29 Feb 2016	Final	GBX	1.53	31/12/2014	31/12/2015	10/03/2016	11/03/2016	30/03/2016	6.10
30 Nov 2015	Interim	GBX	1.53	30/05/2015	30/09/2015	17/12/2015	18/12/2015	31/12/2015	-
05 Aug 2015	Interim	GBX	1.52	30/12/2014	30/06/2015	17/09/2015	18/09/2015	30/09/2015	-
27 Apr 2015	Interim	GBX	1.52	01/12/2014	31/03/2015	18/06/2015	19/06/2015	30/06/2015	-
03 Mar 2015	Final	GBX	3.00	31/12/2013	31/12/2014	12/03/2015	13/03/2015	27/03/2015	6.00
20 Aug 2014	Interim	GBX	3.00	30/12/2013	30/06/2014	27/08/2014	29/08/2014	30/09/2014	-

Foresight Solar Fundamentals

	31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)		31 Dec 2021 (GBP)
turnover	62.13	100.00%	39.20	100.00%	39.63	100.00%	38.07	100.00%	m
pre tax profit	56.01	90.15%	-10.75	-27.43%	-7.20	-18.16%	117.89	309.70%	m
attributable profit	56.01	90.15%	-10.75	-27.43%	-7.20	-18.16%	117.89	309.70%	m
retained profit	24.67	39.70%	-46.75	-119.26%	-45.87	-115.74%	77.84	204.49%	m
eps - basic (p)	11.60		-1.89		-1.19		19.37
eps - diluted (p)	11.60		-1.89		-1.19		19.37
dividends per share	6.58		6.76		6.91		6.98

Foresight Solar 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	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	530.19	86.62%	542.19	86.07%	502.29	86.22%	589.10	89.20%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	69.60	11.37%	68.81	10.92%	63.41	10.88%	60.38	9.14%	m
cash & securities	12.28	2.01%	18.93	3.01%	16.88	2.90%	10.96	1.66%	m

TOTAL	612.07	100%	629.93	100%	582.57	100%	660.44	100%	m

LIABILITIES
creditors - short	1.81	0.30%	1.90	0.30%	0.42	0.07%	0.44	0.07%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1.81	0.30%	1.90	0.30%	0.42	0.07%	0.44	0.07%	m

EQUITY
ord cap, reserves	610.26	99.70%	628.02	99.70%	582.16	99.93%	660.00	99.93%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	610.26	99.70%	628.02	99.70%	582.16	99.93%	660.00	99.93%	m

OTHER
NAV Basic	111.17		103.77		95.80		108.20
NAV Diluted	111.17		103.77		95.80		108.20

Foresight Solar Cash Flow Statement

	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)	31 Dec 2020 (GBP)	31 Dec 2021 (GBP)
Operating CF	19.88	33.13	36.61	34.14	m
Pre-Financing CF	-75.33	-21.87	36.61	34.14	m
Retained CF	-2.39	6.65	-2.06	-5.91	m

Foresight Solar Brokers

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