Gcp Asset Backed Income (GABI)

Company name:	Gcp Asset Backed Income Fund Limited
EPIC:	GABI	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	JE00BYXX8B08
Market Segment:	SSMM	Share Type:	DE
WWW Address:	www.graviscapital.com/funds/gcp-asset-backed	Description:	ORD NPV
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
97.80	0.8 [0.82]	96.40	98.00	97.20	98.00	97.00	179,403
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
430.16	439.83	0.02	3.40	6.30	28.76	6.44	106.00 - 90.40

Gcp Asset Backed Income Key Figures

(at previous day's close)
Market Cap.	430.16	m
Shares In Issue	439.83	m
Prev. Close	97.00
PE Ratio	28.76
Dividend Yield	6.44	%
EPS - basic	3.40	p
Dividend PS	6.30	p
Dividend Cover	0.54
Cash Flow PS	3.25	p
Return On Equity (ROE)	3.43	%
Operating Margin	45.46	%
PEG Factor	-0.64
EPS Growth Rate	-45.25	%
Dividends PS Growth Rate	-2.63	%
Net Debt	10.88	m
Gross Gearing	4.59	%
Quick Assets	10.24	m
Net Working Capital	-	m
Intangibles / Fixed Assets	-	%
Turnover PS	7.49	p
Pre-Tax Profit PS	3.40	p
Retained Profit PS	-2.90	p
Cash PS	2.30	p
Net Cash PS	2.30	p
Net Tangible Asset Value PS *	99.29	p
Net Asset Value PS	99.29	p
Spread	1.60 (1.63%)
* 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.

Gcp Asset Backed Income Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	98.80	95.80
4 weeks	102.00	95.60
12 weeks	102.00	95.00
1 year	106.00	90.40

Share Price Chart (5 years)

Gcp Asset Backed Income Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	97.60	0.20	0.20	95.80	0.38		97.67
4 weeks	97.20	0.60	0.62	95.60	0.39		98.55
12 weeks	97.00	0.80	0.82	95.00	0.42		98.94
26 weeks	96.40	1.40	1.45	90.40	0.46		98.50
1 year	103.50	-5.70	-5.51	90.40	0.42		99.36
3 years	106.50	-8.70	-8.17	66.00	0.52		98.23
5 years	107.50	-9.70	-9.02	66.00	0.46		100.33
† periods calculated are whole weeks rather than calendar months

Gcp Asset Backed Income Key Management Ratios

Gcp Asset Backed Income Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	1.38
PE Ratio	28.76
Tobin's Q Ratio	0.94
Tobin's Q Ratio (excl. intangibles)	0.94
Dividend Yield	6.44	%
Market-to-Book Ratio	0.98
Price-to-Pre-Tax Profit PS	28.73
Price-to-Retained Profit PS	-33.76
Price-to-Cash Flow PS	30.07
Price-to-Sales PS	13.06
Price-to-Net Tangible Asset Value PS	0.98
Price-to-Cash PS	42.56
Net Working Capital PS	-
Price Pct to Working Capital PS	-	%
Earnings Yield	3.48	%
Average PE	17.64
Years in average	5
PE to PE average	163.05	%

Gcp Asset Backed Income Financial Ratios

(Leverage Ratios)
Debt Ratio	4.59	%
Debt-to-Equity Ratio	0.05
Debt-to-Equity Ratio (excl. Intgbl)	0.05
Debt-to-Equity Market Value	0.05
Net Gearing	2.38	%
Net Gearing (excl. Intangibles)	2.38	%
Gross Gearing	4.59	%
Gross Gearing (excl. Intangibles)	4.59	%
Gearing Under 1 Year	-	%
Gearing Under 1 Year (excl. Intgbl)	-	%
Assets/Equity	1.05
Cash/Equity	2.31
(Liquidity Ratios)
Net Working Capital to Total Assets	2.24	%
Current Ratio	-
Quick Ratio (Acid Test)	-
Liquidity Ratio	-
Cash & Equiv/Current Assets	98.75	%
(Solvency Ratios)
Enterprise Value	441.04	m
CFO/Sales	0.43
CFO/Attributable Profit	0.96
CFO/Assets	0.03
CFO/Debt	0.68
Total Debt/Equity Market Value	0.05
Total Debt/Sales	0.64
Total Debt/Pre-Tax Profit	1.40
Total Debt	20.99	m
Total Debt/Net Current Assets	2.05	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	3

Beta (60-Mnth)	Beta (36-Mnth)
0.0179	0.0179

Gcp Asset Backed Income Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	3.27	%
Return On Assets (ROA)	3.28	%
Net Profit Margin	45.46	%
Assets Turnover	0.07
Return On Equity (ROE)	3.43	%
Return On Investment (ROI)	3.28	%
Dividend Payout Ratio	185.29	%
Plowback Ratio	-85.29	%
Growth from Plowback Ratio	-2.88	%
Net Income Of Revenues	-38.70	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.07
Fixed Assets Turnover	0.07
Current Assets Turnover	3.24
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	13.88
Debtors-to-Sales	0.36	%
Debt Collection Period	1.31	Days

Gcp Asset Backed Income Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
29 Apr 2022	Interim	GBX	1.58	01/12/2021	31/03/2022	12/05/2022	13/05/2022	14/06/2022	-
27 Jan 2022	Interim	GBX	1.57	31/12/2020	31/12/2021	03/02/2022	04/02/2022	04/03/2022	6.30
03 Nov 2021	Interim	GBX	1.57	30/05/2021	30/09/2021	11/11/2021	12/11/2021	10/12/2021	-
22 Jul 2021	Interim	GBX	1.57	30/12/2020	30/06/2021	29/07/2021	30/07/2021	27/08/2021	-
29 Apr 2021	Interim	GBX	1.58	01/12/2020	31/03/2021	13/05/2021	14/05/2021	14/06/2021	-
26 Jan 2021	Interim	GBX	1.57	31/12/2019	31/12/2020	04/02/2021	05/02/2021	05/03/2021	6.47
26 Nov 2020	Special	GBX	0.25	30/05/2020	30/09/2020	03/12/2020	04/12/2020	29/12/2020	-
19 Oct 2020	Interim	GBX	1.55	30/09/2019	30/09/2020	29/10/2020	30/10/2020	27/11/2020	-
23 Jul 2020	Interim	GBX	1.55	30/12/2019	30/06/2020	30/07/2020	31/07/2020	28/08/2020	-
29 Apr 2020	Interim	GBX	1.55	01/12/2019	31/03/2020	07/05/2020	11/05/2020	09/06/2020	-
22 Jan 2020	Interim	GBX	1.55	31/12/2018	31/12/2019	30/01/2020	31/01/2020	28/02/2020	6.20
23 Oct 2019	Interim	GBX	1.55	30/05/2019	30/09/2019	31/10/2019	01/11/2019	29/11/2019	-
24 Jul 2019	Interim	GBX	1.55	30/12/2018	30/06/2019	01/08/2019	02/08/2019	02/09/2019	-
24 Apr 2019	Interim	GBX	1.55	01/12/2018	31/03/2019	02/05/2019	03/05/2019	04/06/2019	-
23 Jan 2019	Interim	GBX	1.53	31/12/2017	31/12/2018	31/01/2019	01/02/2019	01/03/2019	6.35
23 Oct 2018	Interim	GBX	1.52	30/05/2018	30/09/2018	01/11/2018	02/11/2018	30/11/2018	-
26 Jul 2018	Interim	GBX	1.53	30/12/2017	30/06/2018	02/08/2018	03/08/2018	03/09/2018	-
26 Jul 2018	Special	GBX	0.25	30/12/2017	30/06/2018	02/08/2018	03/08/2018	03/09/2018	-
26 Apr 2018	Interim	GBX	1.52	01/12/2017	31/03/2018	03/05/2018	04/05/2018	05/06/2018	-
17 Jan 2018	Interim	GBX	1.52	31/12/2016	31/12/2017	25/01/2018	26/01/2018	23/02/2018	6.02
19 Oct 2017	Interim	GBX	1.50	30/05/2017	30/09/2017	26/10/2017	27/10/2017	24/11/2017	-
27 Jul 2017	Interim	GBX	1.50	30/12/2016	30/06/2017	03/08/2017	04/08/2017	04/09/2017	-
25 Apr 2017	Interim	GBX	1.50	01/12/2016	31/03/2017	04/05/2017	05/05/2017	31/05/2017	-
18 Jan 2017	Interim	GBX	1.50	31/12/2015	31/12/2016	26/01/2017	27/01/2017	21/02/2017	6.00
19 Oct 2016	Interim	GBX	1.50	30/05/2016	30/09/2016	27/10/2016	28/10/2016	22/11/2016	-
20 Jul 2016	Interim	GBX	1.50	30/12/2015	30/06/2016	28/07/2016	29/07/2016	22/08/2016	-
20 Apr 2016	Interim	GBX	1.50	01/12/2015	31/03/2016	28/04/2016	29/04/2016	25/05/2016	-

Gcp Asset Backed Income Fundamentals

	31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)		31 Dec 2021 (GBP)
turnover	27.06	100.00%	33.96	100.00%	35.54	100.00%	32.93	100.00%	m
pre tax profit	21.64	79.97%	28.04	82.56%	27.39	77.07%	14.97	45.46%	m
attributable profit	21.64	79.97%	28.04	82.56%	27.39	77.07%	14.97	45.46%	m
retained profit	3.59	13.26%	2.93	8.64%	-0.55	-1.55%	-12.74	-38.70%	m
eps - basic (p)	7.27		6.81		6.21		3.40
eps - diluted (p)	6.54		6.81		6.21		3.40
dividends per share	6.35		6.20		6.47		6.30

Gcp Asset Backed Income 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	378.38	97.17%	453.88	98.11%	446.12	97.79%	447.48	97.76%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	1.80	0.46%	0.06	0.01%	0.11	0.02%	0.13	0.03%	m
cash & securities	9.21	2.36%	8.69	1.88%	9.99	2.19%	10.11	2.21%	m

TOTAL	389.39	100%	462.63	100%	456.22	100%	457.72	100%	m

LIABILITIES
creditors - short	-	-%	-	-%	-	-%	-	-%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	2.80	0.72%	10.79	2.33%	6.46	1.42%	20.99	4.59%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2.80	0.72%	10.79	2.33%	6.46	1.42%	20.99	4.59%	m

EQUITY
ord cap, reserves	386.59	99.28%	451.85	97.67%	449.76	98.58%	436.73	95.41%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	386.59	99.28%	451.85	97.67%	449.76	98.58%	436.73	95.41%	m

OTHER
NAV Basic	101.74		102.33		102.18		99.29
NAV Diluted	101.74		102.33		102.18		99.29

Gcp Asset Backed Income Cash Flow Statement

	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)	31 Dec 2020 (GBP)	31 Dec 2021 (GBP)
Operating CF	-96.46	-46.48	36.02	14.30	m
Pre-Financing CF	-96.46	-46.48	1.31	14.30	m
Retained CF	-51.89	-0.52	1.31	0.11	m

Gcp Asset Backed Income Brokers

Broker infomation is not available for this class of stock.