Jersey Electricity (JEL)

Company name:	Jersey Electricity Plc
EPIC:	JEL	Trading Currency:	GBX
Market Sector:	SQNC	ISIN:	JE00B43SP147
Market Segment:	SSX3	Share Type:	DE
WWW Address:	http://www.jec.co.uk/	Description:	'A'ORD 5P
Industry Sector:	ELECTRICITY

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
517.50	0.0 [0.00]	505.00	530.00	517.50	517.50	517.50	-
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
60.24	11.64	-0.00	38.42	15.70	13.47	3.03	540.00 - 413.00

Jersey Electricity Key Figures

(at previous day's close)
Market Cap.	60.24	m
Shares In Issue	11.64	m
Prev. Close	517.50
PE Ratio	13.47
Dividend Yield	3.03	%
EPS - basic	38.42	p
Dividend PS	15.70	p
Dividend Cover	2.45
Cash Flow PS	238.36	p
Return On Equity (ROE)	5.90	%
Operating Margin	13.44	%
PEG Factor	-4.76
EPS Growth Rate	-2.83	%
Dividends PS Growth Rate	5.37	%
Net Debt	74.65	m
Gross Gearing	33.29	%
Quick Assets	43.29	m
Net Working Capital	28.98	m
Intangibles / Fixed Assets	0.27	%
Turnover PS	947.54	p
Pre-Tax Profit PS	127.32	p
Retained Profit PS	61.01	p
Cash PS	214.05	p
Net Cash PS	39.37	p
Net Tangible Asset Value PS *	1,707.90	p
Net Asset Value PS	1,714.30	p
Spread	25.00 (4.72%)
* 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.

Jersey Electricity Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	522.50	517.50
4 weeks	532.50	517.50
12 weeks	540.00	510.00
1 year	540.00	413.00

Share Price Chart (5 years)

Jersey Electricity Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	522.50	-5.00	-0.96	517.50	0.14		517.50
4 weeks	532.50	-15.00	-2.82	517.50	0.04		518.26
12 weeks	510.00	7.50	1.47	510.00	0.02		518.82
26 weeks	476.00	41.50	8.72	475.00	0.03		488.43
1 year	445.00	72.50	16.29	413.00	0.02		485.10
3 years	490.00	27.50	5.61	413.00	0.01		476.63
5 years	470.00	47.50	10.11	407.50	0.01		471.38
† periods calculated are whole weeks rather than calendar months

Jersey Electricity Key Management Ratios

Jersey Electricity Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	0.73
PE Ratio	13.47
Tobin's Q Ratio	0.21
Tobin's Q Ratio (excl. intangibles)	0.21
Dividend Yield	3.03	%
Market-to-Book Ratio	0.30
Price-to-Pre-Tax Profit PS	4.06
Price-to-Retained Profit PS	8.48
Price-to-Cash Flow PS	2.17
Price-to-Sales PS	0.55
Price-to-Net Tangible Asset Value PS	0.30
Price-to-Cash PS	2.42
Net Working Capital PS	248.96
Price Pct to Working Capital PS	2.08	%
Earnings Yield	7.42	%
Average PE	12.15
Years in average	5
PE to PE average	110.84	%

Jersey Electricity Financial Ratios

(Leverage Ratios)
Debt Ratio	28.42	%
Debt-to-Equity Ratio	0.40
Debt-to-Equity Ratio (excl. Intgbl)	0.40
Debt-to-Equity Market Value	1.32
Net Gearing	24.96	%
Net Gearing (excl. Intangibles)	25.01	%
Gross Gearing	33.29	%
Gross Gearing (excl. Intangibles)	33.36	%
Gearing Under 1 Year	6.80	%
Gearing Under 1 Year (excl. Intgbl)	6.81	%
Assets/Equity	1.50
Cash/Equity	12.49
(Liquidity Ratios)
Net Working Capital to Total Assets	9.69	%
Current Ratio	2.43
Quick Ratio (Acid Test)	2.13
Liquidity Ratio	1.23
Cash & Equiv/Current Assets	50.53	%
(Solvency Ratios)
Enterprise Value	114.62	m
CFO/Sales	0.25
CFO/Attributable Profit	2.36
CFO/Assets	0.09
CFO/Debt	0.28
Total Debt/Equity Market Value	1.65
Total Debt/Sales	0.90
Total Debt/Pre-Tax Profit	6.72
Total Debt	99.56	m
Total Debt/Net Current Assets	3.44	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	3.56	%
5 yr Compound Earnings Growth	1.88	%
10 yr Compound Earnings Growth	16.93	%
Earn drops > 5% in 10yrs	8

Beta (60-Mnth)	Beta (36-Mnth)
-0.0023	-0.0060

Jersey Electricity Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	5.32	%
Return On Assets (ROA)	4.05	%
Net Profit Margin	10.67	%
Assets Turnover	0.38
Return On Equity (ROE)	5.90	%
Return On Investment (ROI)	4.33	%
Dividend Payout Ratio	40.86	%
Plowback Ratio	59.14	%
Growth from Plowback Ratio	3.59	%
Net Income Of Revenues	6.44	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.57
Fixed Assets Turnover	0.45
Current Assets Turnover	2.51
Net Working Capital Turnover
Inventory Turnover	16.83
(Other Operating Ratios)
Total Assets-to-Sales	2.64
Debtors-to-Sales	15.45	%
Debt Collection Period	56.39	Days

Jersey Electricity Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
20 Dec 2019	Final	GBX	9.25	30/09/2018	30/09/2019	20/02/2020	21/02/2020	26/03/2020	15.70
17 May 2019	Interim	GBX	6.45	01/10/2018	31/03/2019	06/06/2019	07/06/2019	28/06/2019	-
14 Dec 2018	Final	GBX	8.80	30/09/2017	30/09/2018	21/02/2019	22/02/2019	28/03/2019	14.90
21 May 2018	Interim	GBX	6.10	01/10/2017	31/03/2018	31/05/2018	01/06/2018	02/07/2018	-
14 Dec 2017	Final	GBX	8.40	30/09/2016	30/09/2017	22/02/2018	23/02/2018	29/03/2018	14.20
19 May 2017	Interim	GBX	5.80	01/10/2016	31/03/2017	01/06/2017	02/06/2017	30/06/2017	-
14 Dec 2016	Final	GBX	8.00	30/09/2015	30/09/2016	23/02/2017	24/02/2017	30/03/2017	13.50
13 May 2016	Interim	GBX	5.50	01/10/2015	31/03/2016	02/06/2016	03/06/2016	30/06/2016	-
18 Dec 2015	Final	GBX	7.60	30/09/2014	30/09/2015	18/02/2016	19/02/2016	29/03/2016	12.85
22 May 2015	Interim	GBX	5.25	01/10/2014	31/03/2015	04/06/2015	05/06/2015	30/06/2015	-
18 Dec 2014	Final	GBX	7.20	30/09/2013	30/09/2014	19/02/2015	20/02/2015	27/03/2015	12.20
14 May 2014	Interim	GBX	5.00	01/10/2013	31/03/2014	04/06/2014	06/06/2014	30/06/2014	-
18 Dec 2013	Final	GBX	6.80	30/09/2012	30/09/2013	19/02/2014	21/02/2014	28/03/2014	11.25
17 May 2013	Interim	GBX	4.75	01/10/2012	31/03/2013	05/06/2013	07/06/2013	28/06/2013	-
21 Dec 2012	Final	GBX	4.50	30/09/2011	30/09/2012	20/02/2013	22/02/2013	04/04/2013	11.00
08 May 2012	Interim	GBX	4.50	01/10/2011	31/03/2012	06/06/2012	08/06/2012	29/06/2012	-
15 Dec 2011	Final	GBX	6.50	30/09/2010	30/09/2011	22/02/2012	24/02/2012	30/03/2012	10.75
13 May 2011	Interim	GBX	4.25	01/10/2010	31/03/2011	08/06/2011	10/06/2011	30/06/2011	-
17 Dec 2010	Special	GBX	0.65	30/09/2009	30/09/2010	23/02/2011	25/02/2011	31/03/2011	2.70
17 Dec 2010	Final	GBX	1.24	30/09/2009	30/09/2010	23/02/2011	25/02/2011	31/03/2011	-
14 May 2010	Interim	GBX	0.81	01/10/2009	31/03/2010	09/06/2010	11/06/2010	30/06/2010	-
18 Dec 2009	Final	GBX	1.18	30/09/2008	30/09/2009	24/02/2010	26/02/2010	31/03/2010	1.95
17 Dec 2008	Final	GBX	1.40	30/09/2007	30/09/2008	25/02/2009	27/02/2009	31/03/2009	2.31
13 Dec 2007	Final	GBX	0.94	30/09/2006	30/09/2007	27/02/2008	29/02/2008	31/03/2008	1.55
17 May 2007	Interim	GBX	0.61	01/10/2006	31/03/2007	15/08/2007	17/08/2007	31/08/2007	-
18 May 2006	Interim	GBX	55.00	01/10/2005	31/03/2006	09/08/2006	11/08/2006	25/08/2006	-
15 Dec 2005	Final	GBX	77.50	30/09/2004	30/09/2005	08/03/2006	10/03/2006	31/03/2006	127.50
19 May 2005	Interim	GBX	50.00	01/10/2004	31/03/2005	10/08/2005	12/08/2005	26/08/2005	-
16 Dec 2004	Final	GBX	25.00	30/09/2003	30/09/2004	02/03/2005	04/03/2005	31/03/2005	70.00
20 May 2004	Interim	GBX	45.00	01/10/2003	31/03/2004	11/08/2004	13/08/2004	27/08/2004	-
16 Dec 2003	Final	GBX	50.00	30/09/2002	30/09/2003	03/03/2004	05/03/2004	31/03/2004	91.00
20 May 2003	Interim	GBX	41.00	01/10/2002	31/03/2003	13/08/2003	15/08/2003	29/08/2003	-
17 Dec 2002	Final	GBX	45.50	30/09/2001	30/09/2002	05/03/2003	07/03/2003	31/03/2003	82.50
21 May 2002	Interim	GBX	37.00	01/10/2001	31/03/2002	14/08/2002	16/08/2002	30/08/2002	-
17 Dec 2001	Final	GBX	40.00	30/09/2000	30/09/2001	27/02/2002	01/03/2002	28/03/2002	75.00
21 May 2001	Interim	GBX	35.00	01/10/2000	31/03/2001	15/08/2001	17/08/2001	31/08/2001	-
18 Dec 2000	Final	GBX	38.00	30/09/1999	30/09/2000	28/02/2001	02/03/2001	30/03/2001	70.00
16 May 2000	Interim	GBX	32.00	01/10/1999	31/03/2000	07/08/2000	11/08/2000	25/08/2000	-
21 Dec 1999	Final	GBX	35.00	30/09/1998	30/09/1999	21/02/2000	25/02/2000	31/03/2000	64.00
22 Dec 1998	Final	GBX	34.00	30/09/1997	30/09/1998	22/02/1999	26/02/1999	31/03/1999	57.00

Jersey Electricity Fundamentals

	30 Sep 2016 (GBP)		30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)
turnover	103.36	100.00%	102.32	100.00%	105.87	100.00%	110.29	100.00%	m
pre tax profit	14.81	14.33%	13.46	13.15%	12.12	11.44%	14.82	13.44%	m
attributable profit	11.55	11.17%	10.60	10.36%	12.12	11.44%	11.77	10.67%	m
retained profit	7.48	7.24%	6.37	6.23%	7.67	7.25%	7.10	6.44%	m
eps - basic (p)	37.69		34.59		39.54		38.42
eps - diluted (p)	37.69		34.59		39.54		38.42
dividends per share	13.50		14.20		14.90		15.70

Jersey Electricity Balance Sheet

	30 Sep 2016 (GBP)		30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)


	30 Sep 2016 (GBP)		30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)
ASSETS
fixed assets	209.17	79.43%	211.92	78.00%	215.15	76.06%	217.05	72.56%	m
intangibles	0.16	0.06%	1.11	0.41%	0.94	0.33%	0.68	0.23%	m
fixed investments	29.54	11.22%	27.40	10.08%	28.24	9.98%	32.07	10.72%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	5.96	2.26%	6.83	2.51%	7.09	2.51%	6.02	2.01%	m
debtors	16.58	6.30%	16.37	6.03%	15.70	5.55%	18.38	6.14%	m
cash & securities	1.93	0.73%	8.08	2.97%	15.74	5.56%	24.92	8.33%	m

TOTAL	263.34	100%	271.70	100%	282.86	100%	299.11	100%	m

LIABILITIES
creditors - short	17.45	6.63%	16.92	6.23%	17.70	6.26%	20.33	6.80%	m
creditors - long	81.79	31.06%	78.52	28.90%	76.43	27.02%	79.23	26.49%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	99.24	37.68%	95.44	35.13%	94.13	33.28%	99.56	33.29%	m

EQUITY
ord cap, reserves	164.05	62.29%	176.24	64.86%	188.68	66.70%	199.48	66.69%	m
prefs, minorities	0.06	0.02%	0.03	0.01%	0.05	0.02%	0.06	0.02%	m

TOTAL	164.11	62.32%	176.26	64.87%	188.73	66.72%	199.54	66.71%	m

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

Jersey Electricity Cash Flow Statement

	30 Sep 2016 (GBP)	30 Sep 2017 (GBP)	30 Sep 2018 (GBP)	30 Sep 2019 (GBP)
Operating CF	25.21	26.46	26.98	27.75	m
Pre-Financing CF	-7.17	11.38	12.11	13.81	m
Retained CF	-11.47	6.15	7.64	9.17	m

Jersey Electricity Brokers

Name	Activity	Type	Mnemonic	Code
Cenkos Securities Plc	Market Maker(MMF)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MMF)	Broker/Dealer	CSCS	CSTEGB21