Investec (INVP)

Company name:	Investec Plc
Company Description:	Investec is organised as a network comprising four business divisions: Investment Banking, with corporate finance, institutional research, sales and trading, direct investments and private equity operations; Treasury and Specialised Finance, with a range of banking and financial activities; Private Client Activities, with private banking and private client portfolio management and stockbroking operations; Asset Management, with asset management and assurance activities
EPIC:	INVP	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	GB00B17BBQ50
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.investec.com/	Description:	ORD GBP0.0002
Industry Sector:	GENERAL FINANCIAL

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
189.40	-7.3 [-3.71]	189.00	189.30	195.90	195.90	188.50	1,606,339
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
1,318.38	696.08	0.31	115.30	11.00	1.64	5.81	455.20 - 122.55

Investec Key Figures

(at previous day's close)
Market Cap.	1,318.38	m
Shares In Issue	696.08	m
Prev. Close	196.70
PE Ratio	1.64
Dividend Yield	5.81	%
EPS - basic	115.30	p
Dividend PS	11.00	p
Dividend Cover	10.48
Cash Flow PS	10.57	p
Return On Equity (ROE)	26.24	%
Operating Margin	11.51	%
PEG Factor	0.01
EPS Growth Rate	121.73	%
Dividends PS Growth Rate	-55.10	%
Net Debt	41,826.64	m
Gross Gearing	90.33	%
Quick Assets	31,909.99	m
Net Working Capital	-	m
Intangibles / Fixed Assets	1.90	%
Turnover PS	387.66	p
Pre-Tax Profit PS	44.60	p
Retained Profit PS	127.98	p
Cash PS	564.88	p
Net Cash PS	564.88	p
Net Tangible Asset Value PS *	570.26	p
Net Asset Value PS	703.60	p
Spread	0.30 (0.16%)
* 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.

Investec Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	207.90	188.50
4 weeks	207.90	179.50
12 weeks	209.00	139.40
1 year	455.20	122.55

Share Price Chart (5 years)

Investec Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	202.10	-12.70	-6.28	188.50	1.96		201.82
4 weeks	196.00	-6.60	-3.37	179.50	2.05		196.01
12 weeks	145.00	44.40	30.62	139.40	2.43		189.72
26 weeks	170.70	18.70	10.95	126.10	2.12		168.83
1 year	438.30	-248.90	-56.79	122.55	2.87		197.39
3 years	546.00	-356.60	-65.31	122.55	2.35		370.94
5 years	427.80	-238.40	-55.73	122.55	2.06		417.46
† periods calculated are whole weeks rather than calendar months

Investec Key Management Ratios

Investec Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	16.61
PE Ratio	1.64
Tobin's Q Ratio	0.02
Tobin's Q Ratio (excl. intangibles)	0.02
Dividend Yield	5.81	%
Market-to-Book Ratio	0.30
Price-to-Pre-Tax Profit PS	4.25
Price-to-Retained Profit PS	1.48
Price-to-Cash Flow PS	17.92
Price-to-Sales PS	0.49
Price-to-Net Tangible Asset Value PS	0.29
Price-to-Cash PS	0.34
Net Working Capital PS	-
Price Pct to Working Capital PS	-	%
Earnings Yield	60.88	%
Average PE	8.92
Years in average	5
PE to PE average	18.42	%

Investec Financial Ratios

(Leverage Ratios)
Debt Ratio	90.33	%
Debt-to-Equity Ratio	9.34
Debt-to-Equity Ratio (excl. Intgbl)	10.08
Debt-to-Equity Market Value	34.71
Net Gearing	82.57	%
Net Gearing (excl. Intangibles)	83.16	%
Gross Gearing	90.33	%
Gross Gearing (excl. Intangibles)	90.97	%
Gearing Under 1 Year	-	%
Gearing Under 1 Year (excl. Intgbl)	-	%
Assets/Equity	10.34
Cash/Equity	80.28
(Liquidity Ratios)
Net Working Capital to Total Assets	62.99	%
Current Ratio	-
Quick Ratio (Acid Test)	-
Liquidity Ratio	-
Cash & Equiv/Current Assets	12.32	%
(Solvency Ratios)
Enterprise Value	43,716.23	m
CFO/Sales	0.03
CFO/Attributable Profit	0.06
CFO/Assets	0.00
CFO/Debt	0.00
Total Debt/Equity Market Value	34.71
Total Debt/Sales	16.96
Total Debt/Pre-Tax Profit	147.38
Total Debt	45,758.69	m
Total Debt/Net Current Assets	1.43	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	31.07	%
5 yr Compound Earnings Growth	24.53	%
10 yr Compound Earnings Growth	8.78	%
Earn drops > 5% in 10yrs	4

Beta (60-Mnth)	Beta (36-Mnth)
0.3060	0.4047

Investec Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	0.61	%
Return On Assets (ROA)	2.09	%
Net Profit Margin	42.07	%
Assets Turnover	0.05
Return On Equity (ROE)	26.24	%
Return On Investment (ROI)	2.09	%
Dividend Payout Ratio	9.54	%
Plowback Ratio	90.46	%
Growth from Plowback Ratio	22.96	%
Net Income Of Revenues	33.01	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.60
Fixed Assets Turnover	0.13
Current Assets Turnover	0.08
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	20.08
Debtors-to-Sales	1,076.65	%
Debt Collection Period	3,929.79	Days

Investec Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
19 Nov 2020	Interim	GBX	5.50	31/03/2020	31/03/2021	10/12/2020	11/12/2020	04/01/2021	-
21 Nov 2019	Interim	GBX	11.00	31/03/2019	31/03/2020	05/12/2019	06/12/2019	18/12/2019	11.00
16 May 2019	Final	GBX	13.50	31/03/2018	31/03/2019	25/07/2019	26/07/2019	12/08/2019	24.50
15 Nov 2018	Interim	GBX	11.00	30/03/2018	30/09/2018	06/12/2018	07/12/2018	19/12/2018	-
17 May 2018	Final	GBX	13.50	31/03/2017	31/03/2018	25/07/2018	26/07/2018	13/08/2018	24.00
16 Nov 2017	Interim	GBX	10.50	30/03/2017	30/09/2017	07/12/2017	08/12/2017	20/12/2017	-
18 May 2017	Final	GBX	13.00	31/03/2016	31/03/2017	27/07/2017	28/07/2017	14/08/2017	23.00
17 Nov 2016	Interim	GBX	10.00	30/03/2016	30/09/2016	08/12/2016	09/12/2016	21/12/2016	-
19 May 2016	Final	GBX	11.50	31/03/2015	31/03/2016	28/07/2016	29/07/2016	10/08/2016	21.00
20 Nov 2015	Interim	GBX	9.50	30/03/2015	30/09/2015	10/12/2015	11/12/2015	23/12/2015	-
21 May 2015	Final	GBX	11.50	31/03/2014	31/03/2015	30/07/2015	31/07/2015	14/08/2015	20.00
20 Nov 2014	Interim	GBX	8.50	30/03/2014	30/09/2014	11/12/2014	12/12/2014	29/12/2014	-
22 May 2014	Final	GBX	11.00	31/03/2013	31/03/2014	30/07/2014	01/08/2014	15/08/2014	19.00
21 Nov 2013	Interim	GBX	8.00	30/03/2013	30/09/2013	11/12/2013	13/12/2013	27/12/2013	-
23 May 2013	Final	GBX	10.00	31/03/2012	31/03/2013	24/07/2013	26/07/2013	12/08/2013	18.00
15 Nov 2012	Interim	GBX	8.00	30/03/2012	30/09/2012	12/12/2012	14/12/2012	28/12/2012	-
17 May 2012	Final	GBX	9.00	31/03/2011	31/03/2012	25/07/2012	27/07/2012	06/08/2012	17.00
17 Nov 2011	Interim	GBX	8.00	30/03/2011	30/09/2011	07/12/2011	09/12/2011	20/12/2011	-
19 May 2011	Final	GBX	9.00	31/03/2010	31/03/2011	27/07/2011	29/07/2011	08/08/2011	17.00
18 Nov 2010	Interim	GBX	8.00	30/03/2010	30/09/2010	08/12/2010	10/12/2010	21/12/2010	-
20 May 2010	Final	GBX	8.00	31/03/2009	31/03/2010	28/07/2010	30/07/2010	17/08/2010	16.00
19 Nov 2009	Interim	GBX	8.00	30/03/2009	30/09/2009	09/12/2009	11/12/2009	18/12/2009	-
21 May 2009	Final	GBX	5.00	31/03/2008	31/03/2009	29/07/2009	31/07/2009	08/08/2009	13.00
13 Nov 2008	Interim	GBX	8.00	30/03/2008	30/09/2008	10/12/2008	12/12/2008	19/12/2008	-
14 May 2008	Final	GBX	13.50	31/03/2007	31/03/2008	23/07/2008	25/07/2008	12/08/2008	25.00
15 Nov 2007	Interim	GBX	11.50	30/03/2007	30/09/2007	12/12/2007	14/12/2007	21/12/2007	-
17 May 2007	Final	GBX	13.00	31/03/2006	31/03/2007	25/07/2007	27/07/2007	08/08/2007	23.00
15 Nov 2006	Interim	GBX	10.00	30/03/2006	30/09/2006	13/12/2006	15/12/2006	22/12/2006	-
18 May 2006	Final	GBX	53.00	31/03/2005	31/03/2006	26/07/2006	28/07/2006	14/08/2006	18.20
17 Nov 2005	Interim	GBX	38.00	30/03/2005	30/09/2005	14/12/2005	16/12/2005	23/12/2005	-
19 May 2005	Final	GBX	37.00	31/03/2004	31/03/2005	27/07/2005	29/07/2005	15/08/2005	13.40
24 Nov 2004	Interim	GBX	30.00	30/03/2004	30/09/2004	15/12/2004	17/12/2004	24/12/2004	-
27 May 2004	Final	GBX	30.00	31/03/2003	31/03/2004	26/07/2004	28/07/2004	23/08/2004	11.60
27 Nov 2003	Interim	GBX	28.00	30/03/2003	30/09/2003	17/12/2003	19/12/2003	05/01/2004	-
21 May 2003	Final	GBX	28.00	31/03/2002	31/03/2003	16/07/2003	18/07/2003	11/08/2003	10.80
02 Dec 2002	Interim	GBX	26.00	30/03/2002	30/09/2002	11/12/2002	13/12/2002	24/12/2002	-
20 May 2002	Final	GBX	53.80	31/03/2001	31/03/2002	-	-	-	10.60

Investec Fundamentals

	31 Mar 2017 (GBP)		31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)
turnover	2,230.77	100.00%	2,491.01	100.00%	2,641.92	100.00%	2,698.42	100.00%	m
pre tax profit	637.41	28.57%	637.50	25.59%	687.20	26.01%	310.48	11.51%	m
attributable profit	442.47	19.83%	505.55	20.29%	531.12	20.10%	1,135.16	42.07%	m
retained profit	225.86	10.12%	277.64	11.15%	293.05	11.09%	890.84	33.01%	m
eps - basic (p)	50.80		51.20		52.00		115.30
eps - diluted (p)	48.80		49.80		50.90		114.40
dividends per share	23.00		24.00		24.50		11.00

Investec Balance Sheet

	31 Mar 2017 (GBP)		31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)


	31 Mar 2017 (GBP)		31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)
ASSETS
fixed assets	105.94	0.20%	233.34	0.40%	261.65	0.45%	356.57	0.70%	m
intangibles	510.84	0.95%	494.19	0.86%	474.11	0.82%	356.92	0.70%	m
fixed investments	20,283.72	37.89%	22,237.40	38.60%	21,868.31	37.88%	18,032.82	35.60%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	29,282.63	54.70%	30,611.40	53.13%	30,127.32	52.19%	27,977.95	55.23%	m
cash & securities	3,351.70	6.26%	4,040.51	7.01%	4,992.82	8.65%	3,932.05	7.76%	m

TOTAL	53,534.83	100%	57,616.84	100%	57,724.21	100%	50,656.32	100%	m

LIABILITIES
creditors - short	-	-%	-	-%	-	-%	-	-%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	47,323.57	88.40%	50,705.55	88.00%	50,825.93	88.05%	44,322.32	87.50%	m
subordinated loans	1,402.64	2.62%	1,482.99	2.57%	1,647.27	2.85%	1,436.36	2.84%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	48,726.20	91.02%	52,188.53	90.58%	52,473.20	90.90%	45,758.69	90.33%	m

EQUITY
ord cap, reserves	4,163.89	7.78%	4,746.24	8.24%	4,620.14	8.00%	4,326.42	8.54%	m
prefs, minorities	644.74	1.20%	682.06	1.18%	630.87	1.09%	571.22	1.13%	m

TOTAL	4,808.63	8.98%	5,428.31	9.42%	5,251.01	9.10%	4,897.63	9.67%	m

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

Investec Cash Flow Statement

	31 Mar 2017 (GBP)	31 Mar 2018 (GBP)	31 Mar 2019 (GBP)	31 Mar 2020 (GBP)
Operating CF	791.84	455.15	1,405.11	73.58	m
Pre-Financing CF	701.72	417.35	1,339.68	104.41	m
Retained CF	1,071.43	408.65	984.73	-921.40	m

Investec Brokers

Name	Activity	Type	Mnemonic	Code
Deutsche Bank AG London Branch	Market Maker(MME)	Broker/Dealer	DEUT	DEUTGB2L
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
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