Glaxosmithkline (GSK)

Company name:	Glaxosmithkline Plc
Company Description:	A group engaged in the creation; discovery; development; manufacture and marketing of pharmaceutical and consumer health-related products
EPIC:	GSK	Trading Currency:	GBX
Market Sector:	FE10	ISIN:	GB0009252882
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.gsk.com/	Description:	ORD 25P
Industry Sector:	PHARMACEUTICALS & BIOTECHNOLOGY

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
1,423.40	-12.0 [-0.84]	1,420.40	1,420.80	1,435.40	1,438.80	1,420.20	18,535,992
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
71,612.34	5,031.08	0.04	93.90	80.00	15.16	5.62	1,677.40 - 1,190.80

Glaxosmithkline Key Figures

(at previous day's close)
Market Cap.	71,612.34	m
Shares In Issue	5,031.08	m
Prev. Close	1,435.40
PE Ratio	15.16
Dividend Yield	5.62	%
EPS - basic	93.90	p
Dividend PS	80.00	p
Dividend Cover	1.17
Cash Flow PS	159.41	p
Return On Equity (ROE)	38.76	%
Operating Margin	18.43	%
PEG Factor	0.55
EPS Growth Rate	27.41	%
Dividends PS Growth Rate	-	%
Net Debt	56,628.00	m
Gross Gearing	76.97	%
Quick Assets	17,140.00	m
Net Working Capital	-963.00	m
Intangibles / Fixed Assets	75.05	%
Turnover PS	670.91	p
Pre-Tax Profit PS	123.65	p
Retained Profit PS	13.75	p
Cash PS	93.56	p
Net Cash PS	-384.47	p
Net Tangible Asset Value PS *	-606.21	p
Net Asset Value PS	364.87	p
Spread	0.40 (0.03%)
* 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.

Glaxosmithkline Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	1,451.60	1,399.60
4 weeks	1,451.60	1,328.20
12 weeks	1,451.60	1,269.20
1 year	1,677.40	1,190.80

Share Price Chart (5 years)

Glaxosmithkline Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	1,400.20	23.20	1.66	1,399.60	11.19		1,427.19
4 weeks	1,356.80	66.60	4.91	1,328.20	8.71		1,377.64
12 weeks	1,285.00	138.40	10.77	1,269.20	8.78		1,346.57
26 weeks	1,365.00	58.40	4.28	1,190.80	9.49		1,319.86
1 year	1,667.40	-244.00	-14.63	1,190.80	8.91		1,392.17
3 years	1,548.80	-125.40	-8.10	1,190.80	9.18		1,530.62
5 years	1,405.50	17.90	1.27	1,190.80	9.23		1,525.23
† periods calculated are whole weeks rather than calendar months

Glaxosmithkline Key Management Ratios

Glaxosmithkline Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	31.18
PE Ratio	15.16
Tobin's Q Ratio	1.04
Tobin's Q Ratio (excl. intangibles)	1.98
Dividend Yield	5.62	%
Market-to-Book Ratio	5.98
Price-to-Pre-Tax Profit PS	11.51
Price-to-Retained Profit PS	103.49
Price-to-Cash Flow PS	8.93
Price-to-Sales PS	2.12
Price-to-Net Tangible Asset Value PS	-2.97
Price-to-Cash PS	15.21
Net Working Capital PS	-19.14
Price Pct to Working Capital PS	-74.36	%
Earnings Yield	6.60	%
Average PE	34.39
Years in average	5
PE to PE average	44.07	%

Glaxosmithkline Financial Ratios

(Leverage Ratios)
Debt Ratio	67.01	%
Debt-to-Equity Ratio	2.03
Debt-to-Equity Ratio (excl. Intgbl)	-1.55
Debt-to-Equity Market Value	0.52
Net Gearing	71.06	%
Net Gearing (excl. Intangibles)	152.19	%
Gross Gearing	76.97	%
Gross Gearing (excl. Intangibles)	164.84	%
Gearing Under 1 Year	30.18	%
Gearing Under 1 Year (excl. Intgbl)	64.63	%
Assets/Equity	4.34
Cash/Equity	25.64
(Liquidity Ratios)
Net Working Capital to Total Assets	-1.21	%
Current Ratio	0.96
Quick Ratio (Acid Test)	0.71
Liquidity Ratio	0.20
Cash & Equiv/Current Assets	20.39	%
(Solvency Ratios)
Enterprise Value	110,563.34	m
CFO/Sales	0.24
CFO/Attributable Profit	1.73
CFO/Assets	0.10
CFO/Debt	0.13
Total Debt/Equity Market Value	0.86
Total Debt/Sales	1.82
Total Debt/Pre-Tax Profit	9.86
Total Debt	61,335.00	m
Total Debt/Net Current Assets	-63.69	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	44.07	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	11.33	%
Earn drops > 5% in 10yrs	9

Beta (60-Mnth)	Beta (36-Mnth)
0.0379	0.1102

Glaxosmithkline Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	11.18	%
Return On Assets (ROA)	6.74	%
Net Profit Margin	13.76	%
Assets Turnover	0.49
Return On Equity (ROE)	38.76	%
Return On Investment (ROI)	10.18	%
Dividend Payout Ratio	85.20	%
Plowback Ratio	14.80	%
Growth from Plowback Ratio	8.41	%
Net Income Of Revenues	2.05	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	4.13
Fixed Assets Turnover	0.72
Current Assets Turnover	1.55
Net Working Capital Turnover
Inventory Turnover	5.91
(Other Operating Ratios)
Total Assets-to-Sales	2.04
Debtors-to-Sales	32.74	%
Debt Collection Period	119.48	Days

Glaxosmithkline Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
05 Feb 2020	Final	GBX	23.00	31/12/2018	31/12/2019	20/02/2020	21/02/2020	09/04/2020	80.00
30 Oct 2019	Quarterly	GBX	19.00	31/12/2018	31/12/2019	14/11/2019	15/11/2019	09/01/2020	-
24 Jul 2019	Quarterly	GBX	19.00	31/12/2018	31/12/2019	08/08/2019	09/08/2019	10/10/2019	-
01 May 2019	Quarterly	GBX	19.00	31/12/2018	31/12/2019	16/05/2019	17/05/2019	11/07/2019	-
06 Feb 2019	Final	GBX	23.00	31/12/2017	31/12/2018	21/02/2019	22/02/2019	11/04/2019	80.00
31 Oct 2018	Quarterly	GBX	19.00	31/12/2017	31/12/2018	15/11/2018	16/11/2018	10/01/2019	-
25 Jul 2018	Quarterly	GBX	19.00	31/12/2017	31/12/2018	09/08/2018	10/08/2018	11/10/2018	-
25 Apr 2018	Quarterly	GBX	19.00	31/12/2017	31/12/2018	10/05/2018	11/05/2018	12/07/2018	-
07 Feb 2018	Final	GBX	23.00	31/12/2016	31/12/2017	22/02/2018	23/02/2018	12/04/2018	80.00
25 Oct 2017	Quarterly	GBX	19.00	31/12/2016	31/12/2017	09/11/2017	10/11/2017	11/01/2018	-
26 Jul 2017	Quarterly	GBX	19.00	31/12/2016	31/12/2017	10/08/2017	11/08/2017	12/10/2017	-
26 Apr 2017	Quarterly	GBX	19.00	31/12/2016	31/12/2017	11/05/2017	12/05/2017	13/07/2017	-
08 Feb 2017	Final	GBX	23.00	31/12/2015	31/12/2016	23/02/2017	24/02/2017	13/04/2017	80.00
26 Oct 2016	Quarterly	GBX	19.00	31/12/2015	31/12/2016	03/11/2016	04/11/2016	12/01/2017	-
27 Jul 2016	Quarterly	GBX	19.00	31/12/2015	31/12/2016	11/08/2016	12/08/2016	13/10/2016	-
27 Apr 2016	Quarterly	GBX	19.00	31/12/2015	31/12/2016	12/05/2016	13/05/2016	14/07/2016	-
03 Feb 2016	Special	GBX	20.00	31/12/2014	31/12/2015	18/02/2016	19/02/2016	14/04/2016	-
03 Feb 2016	Final	GBX	23.00	31/12/2014	31/12/2015	18/02/2016	19/02/2016	14/04/2016	100.00
19 Oct 2015	Quarterly	GBX	19.00	31/12/2014	31/12/2015	12/11/2015	13/11/2015	14/01/2016	-
29 Jul 2015	Quarterly	GBX	19.00	31/12/2014	31/12/2015	13/08/2015	14/08/2015	01/10/2015	-
06 May 2015	Quarterly	GBX	19.00	31/12/2014	31/12/2015	14/05/2015	15/05/2015	09/07/2015	-
04 Feb 2015	Final	GBX	23.00	31/12/2013	31/12/2014	19/02/2015	20/02/2015	09/04/2015	80.00
22 Oct 2014	Quarterly	GBX	19.00	31/12/2013	31/12/2014	06/11/2014	07/11/2014	08/01/2015	-
24 Jul 2014	Quarterly	GBX	19.00	31/12/2013	31/12/2014	06/08/2014	08/08/2014	02/10/2014	-
30 Apr 2014	Quarterly	GBX	19.00	31/12/2013	31/12/2014	14/05/2014	16/05/2014	10/07/2014	-
05 Feb 2014	Final	GBX	23.00	31/12/2012	31/12/2013	19/02/2014	21/02/2014	10/04/2014	78.00
23 Oct 2013	Quarterly	GBX	19.00	31/12/2012	31/12/2013	13/11/2013	15/11/2013	09/01/2014	-
24 Jul 2013	Quarterly	GBX	18.00	31/12/2012	31/12/2013	07/08/2013	09/08/2013	03/10/2013	-
24 Apr 2013	Quarterly	GBX	18.00	31/12/2012	31/12/2013	08/05/2013	10/05/2013	11/07/2013	-
06 Feb 2013	Final	GBX	22.00	31/12/2011	31/12/2012	20/02/2013	22/02/2013	11/04/2013	74.00
31 Oct 2012	Quarterly	GBX	18.00	31/12/2011	31/12/2012	14/11/2012	16/11/2012	03/01/2013	-
25 Jul 2012	Quarterly	GBX	17.00	31/12/2011	31/12/2012	08/08/2012	10/08/2012	04/10/2012	-
25 Apr 2012	Quarterly	GBX	17.00	31/12/2011	31/12/2012	09/05/2012	11/05/2012	05/07/2012	-
07 Feb 2012	Special	GBX	5.00	31/12/2010	31/12/2011	15/02/2012	17/02/2012	12/04/2012	-
07 Feb 2012	Final	GBX	21.00	31/12/2010	31/12/2011	15/02/2012	17/02/2012	12/04/2012	75.00
26 Oct 2011	Interim	GBX	17.00	31/12/2010	31/12/2011	02/11/2011	04/11/2011	05/01/2012	-
26 Jul 2011	Interim	GBX	16.00	31/12/2010	31/12/2011	03/08/2011	05/08/2011	06/10/2011	-
27 Apr 2011	Interim	GBX	16.00	31/12/2010	31/12/2011	04/05/2011	06/05/2011	07/07/2011	-
03 Feb 2011	Final	GBX	19.00	31/12/2009	31/12/2010	09/02/2011	11/02/2011	07/04/2011	65.00
21 Oct 2010	Interim	GBX	16.00	31/12/2009	31/12/2010	27/10/2010	29/10/2010	06/01/2011	-
21 Jul 2010	Interim	GBX	15.00	31/12/2009	31/12/2010	28/07/2010	30/07/2010	07/10/2010	-
28 Apr 2010	Interim	GBX	15.00	31/12/2009	31/12/2010	05/05/2010	07/05/2010	08/07/2010	-
04 Feb 2010	Final	GBX	18.00	31/12/2008	31/12/2009	10/02/2010	12/02/2010	08/04/2010	61.00
29 Oct 2009	Quarterly	GBX	15.00	31/12/2008	31/12/2009	04/11/2009	06/09/2009	07/01/2010	-
30 Jul 2009	Quarterly	GBX	14.00	31/12/2008	31/12/2009	31/07/2009	31/07/2009	08/10/2009	28.00
22 Apr 2009	Quarterly	GBX	14.00	31/12/2008	31/12/2009	29/04/2009	01/05/2009	09/07/2009	-
05 Feb 2009	Final	GBX	17.00	31/12/2007	31/12/2008	11/02/2009	13/02/2009	09/04/2009	57.00
22 Oct 2008	Quarterly	GBX	14.00	31/12/2007	31/12/2008	29/10/2008	31/10/2008	09/01/2008	-
07 Feb 2008	Final	GBX	13.00	31/12/2006	31/12/2007	13/02/2008	15/02/2008	10/04/2008	53.00
25 Jul 2007	Quarterly	GBX	12.00	31/12/2006	31/12/2007	01/08/2007	03/08/2007	11/10/2007	-
24 Apr 2007	Quarterly	GBX	12.00	31/12/2006	31/12/2007	02/05/2007	04/05/2007	12/07/2007	-
08 Feb 2007	Quarterly	GBX	14.00	31/12/2005	31/12/2006	14/02/2006	16/02/2006	12/04/2007	-
08 Feb 2007	Final	GBX	-	31/12/2005	31/12/2006	-	-	-	48.00
26 Oct 2006	Quarterly	GBX	12.00	31/12/2005	31/12/2006	01/11/2006	03/11/2006	04/01/2007	-
26 Jul 2006	Quarterly	GBX	11.00	31/12/2005	31/12/2006	02/08/2006	04/08/2006	05/10/2006	-
27 Apr 2006	Quarterly	GBX	11.00	31/12/2005	31/12/2006	10/05/2006	12/05/2006	06/07/2006	-
08 Feb 2006	Final	GBX	14.00	31/12/2004	31/12/2005	15/02/2006	17/02/2006	06/04/2006	44.00
27 Oct 2005	Quarterly	GBX	10.00	31/12/2004	31/12/2005	02/11/2005	04/11/2005	05/01/2006	-
29 Jul 2005	Quarterly	GBX	10.00	31/12/2004	31/12/2005	03/08/2005	05/08/2005	06/10/2005	-
28 Apr 2005	Quarterly	GBX	10.00	31/12/2004	31/12/2005	11/05/2005	13/05/2005	07/07/2005	-
10 Feb 2005	Final	GBX	12.00	31/12/2003	31/12/2004	16/02/2005	18/02/2005	07/04/2005	42.00
28 Oct 2004	Quarterly	GBX	10.00	31/12/2003	31/12/2004	03/11/2004	05/11/2004	06/01/2005	-
27 Jul 2004	Quarterly	GBX	10.00	31/12/2003	31/12/2004	12/05/2004	14/05/2004	01/07/2004	-
27 Jul 2004	Quarterly	GBX	10.00	31/12/2003	31/12/2004	04/08/2004	06/08/2004	30/09/2004	-
12 Feb 2004	Final	GBX	14.00	31/12/2002	31/12/2003	18/02/2004	20/02/2004	15/04/2004	41.00
11 Feb 2004	Quarterly	GBX	9.00	31/12/2002	31/12/2003	29/10/2003	31/10/2003	06/01/2004	-
23 Jul 2003	Quarterly	GBX	9.00	31/12/2002	31/12/2003	30/07/2003	01/08/2003	02/10/2003	-
30 Apr 2003	Quarterly	GBX	9.00	31/12/2002	31/12/2003	07/05/2003	09/05/2003	03/07/2003	-
12 Feb 2003	Final	GBX	13.00	31/12/2001	31/12/2002	19/02/2003	21/02/2003	17/04/2003	40.00
23 Oct 2002	Quarterly	GBX	9.00	30/03/2002	30/09/2002	30/10/2002	01/11/2002	03/01/2003	-
24 Jul 2002	Quarterly	GBX	9.00	30/12/2001	30/06/2002	31/07/2002	02/08/2002	03/10/2002	-
25 Apr 2002	Quarterly	GBX	9.00	01/10/2001	31/03/2002	01/05/2002	03/05/2002	04/07/2002	-
14 Feb 2002	Final	GBX	12.00	31/12/2000	31/12/2001	20/02/2002	22/02/2002	18/04/2002	39.00
23 Oct 2001	Quarterly	GBX	9.00	30/09/2000	30/09/2001	31/10/2001	02/11/2001	03/01/2002	-
24 Jul 2001	Quarterly	GBX	9.00	30/06/2000	30/06/2001	01/08/2001	03/08/2001	04/10/2001	-
24 Apr 2001	Quarterly	GBX	9.00	31/03/2000	31/03/2001	02/05/2001	04/05/2001	05/07/2001	-
13 Dec 2000	Final	GBX	23.00	31/12/1999	31/12/2000	18/12/2000	22/12/2000	17/04/2001	38.00
27 Jul 2000	Interim	GBX	15.00	30/12/1999	30/06/2000	07/08/2000	11/08/2000	16/10/2000	-
16 Feb 2000	Final	GBX	22.00	31/12/1998	31/12/1999	28/02/2000	03/03/2000	25/05/2000	37.00
29 Jul 1999	Interim	GBX	15.00	30/12/1998	30/06/1999	09/08/1999	13/08/1999	01/10/1999	-
18 Feb 1999	Final	GBX	21.00	31/12/1997	31/12/1998	01/03/1999	05/03/1999	20/05/1999	36.00

Glaxosmithkline Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	27,889.00	100.00%	30,186.00	100.00%	30,821.00	100.00%	33,754.00	100.00%	m
pre tax profit	1,939.00	6.95%	3,525.00	11.68%	4,048.00	13.13%	6,221.00	18.43%	m
attributable profit	912.00	3.27%	1,532.00	5.08%	3,623.00	11.75%	4,645.00	13.76%	m
retained profit	-3,938.00	-14.12%	-2,374.00	-7.86%	-304.00	-0.99%	692.00	2.05%	m
eps - basic (p)	18.80		31.40		73.70		93.90
eps - diluted (p)	18.60		31.00		72.90		93.90
dividends per share	80.00		80.00		80.00		80.00

Glaxosmithkline Balance Sheet

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


	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
ASSETS
fixed assets	10,808.00	18.29%	10,860.00	19.26%	11,058.00	19.04%	10,348.00	12.98%	m
intangibles	24,741.00	41.88%	23,296.00	41.32%	22,991.00	39.59%	42,483.00	53.31%	m
fixed investments	2,692.00	4.56%	2,668.00	4.73%	3,475.00	5.98%	3,774.00	4.74%	m
current assets - other	215.00	0.36%	113.00	0.20%	653.00	1.12%	873.00	1.10%	m
stocks	5,102.00	8.64%	5,557.00	9.86%	5,476.00	9.43%	5,947.00	7.46%	m
debtors	10,626.00	17.99%	10,054.00	17.83%	10,539.00	18.15%	11,560.00	14.51%	m
cash & securities	4,897.00	8.29%	3,833.00	6.80%	3,874.00	6.67%	4,707.00	5.91%	m

TOTAL	59,081.00	100%	56,381.00	100%	58,066.00	100%	79,692.00	100%	m

LIABILITIES
creditors - short	19,001.00	32.16%	26,569.00	47.12%	22,491.00	38.73%	24,050.00	30.18%	m
creditors - long	35,117.00	59.44%	26,323.00	46.69%	31,903.00	54.94%	37,285.00	46.79%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	54,118.00	91.60%	52,892.00	93.81%	54,394.00	93.68%	61,335.00	76.97%	m

EQUITY
ord cap, reserves	1,124.00	1.90%	-68.00	-0.12%	4,360.00	7.51%	11,984.00	15.04%	m
prefs, minorities	3,839.00	6.50%	3,557.00	6.31%	-688.00	-1.18%	6,373.00	8.00%	m

TOTAL	4,963.00	8.40%	3,489.00	6.19%	3,672.00	6.32%	18,357.00	23.03%	m

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

Glaxosmithkline Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	6,497.00	6,918.00	8,421.00	8,020.00	m
Pre-Financing CF	5,228.00	5,475.00	6,868.00	2,666.00	m
Retained CF	-1,164.00	-905.00	479.00	826.00	m

Glaxosmithkline Brokers

Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC