Johnson Service (JSG)

Company name:	Johnson Service Group Plc
EPIC:	JSG	Trading Currency:	GBX
Market Sector:	AS50	ISIN:	GB0004762810
Market Segment:	AMSM	Share Type:	DE
WWW Address:	http://www.johnsonplc.com/	Description:	ORD 10P
Industry Sector:	SUPPORT SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
93.40	-2.6 [-2.71]	93.40	95.60	96.10	97.20	90.40	2,593,554
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
414.39	443.68	0.06	8.40	3.50	11.12	3.75	224.00 - 77.80

Johnson Service Key Figures

(at previous day's close)
Market Cap.	414.39	m
Shares In Issue	443.68	m
Prev. Close	96.00
PE Ratio	11.12
Dividend Yield	3.75	%
EPS - basic	8.40	p
Dividend PS	3.50	p
Dividend Cover	2.40
Cash Flow PS	23.91	p
Return On Equity (ROE)	14.89	%
Operating Margin	10.87	%
PEG Factor	0.74
EPS Growth Rate	15.07	%
Dividends PS Growth Rate	12.90	%
Net Debt	219.60	m
Gross Gearing	52.34	%
Quick Assets	66.10	m
Net Working Capital	-23.20	m
Intangibles / Fixed Assets	45.56	%
Turnover PS	79.02	p
Pre-Tax Profit PS	8.59	p
Retained Profit PS	4.26	p
Cash PS	1.87	p
Net Cash PS	-18.77	p
Net Tangible Asset Value PS *	9.08	p
Net Asset Value PS	46.77	p
Spread	2.20 (2.30%)
* 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.

Johnson Service Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	104.80	90.40
4 weeks	113.20	90.40
12 weeks	122.40	87.70
1 year	224.00	77.80

Share Price Chart (5 years)

Johnson Service Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	104.80	-11.40	-10.88	90.40	1.26		96.32
4 weeks	100.20	-6.80	-6.79	90.40	1.83		103.67
12 weeks	120.00	-26.60	-22.17	87.70	1.41		105.44
26 weeks	103.80	-10.40	-10.02	87.70	1.39		110.45
1 year	173.20	-79.80	-46.07	77.80	1.08		130.13
3 years	147.00	-53.60	-36.46	77.80	0.71		136.24
5 years	86.00	7.40	8.60	77.80	0.71		122.20
† periods calculated are whole weeks rather than calendar months

Johnson Service Key Management Ratios

Johnson Service Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	5.23
PE Ratio	11.12
Tobin's Q Ratio	1.01
Tobin's Q Ratio (excl. intangibles)	1.71
Dividend Yield	3.75	%
Market-to-Book Ratio	2.00
Price-to-Pre-Tax Profit PS	10.88
Price-to-Retained Profit PS	21.93
Price-to-Cash Flow PS	3.91
Price-to-Sales PS	1.18
Price-to-Net Tangible Asset Value PS	10.28
Price-to-Cash PS	49.93
Net Working Capital PS	-5.23
Price Pct to Working Capital PS	-17.86	%
Earnings Yield	8.99	%
Average PE	21.35
Years in average	5
PE to PE average	52.07	%

Johnson Service Financial Ratios

(Leverage Ratios)
Debt Ratio	39.65	%
Debt-to-Equity Ratio	0.66
Debt-to-Equity Ratio (excl. Intgbl)	3.38
Debt-to-Equity Market Value	0.33
Net Gearing	50.44	%
Net Gearing (excl. Intangibles)	81.88	%
Gross Gearing	52.34	%
Gross Gearing (excl. Intangibles)	84.97	%
Gearing Under 1 Year	21.04	%
Gearing Under 1 Year (excl. Intgbl)	34.15	%
Assets/Equity	2.10
Cash/Equity	4.00
(Liquidity Ratios)
Net Working Capital to Total Assets	-5.33	%
Current Ratio	0.75
Quick Ratio (Acid Test)	0.72
Liquidity Ratio	0.09
Cash & Equiv/Current Assets	12.13	%
(Solvency Ratios)
Enterprise Value	542.39	m
CFO/Sales	0.30
CFO/Attributable Profit	3.43
CFO/Assets	0.24
CFO/Debt	0.47
Total Debt/Equity Market Value	0.55
Total Debt/Sales	0.65
Total Debt/Pre-Tax Profit	5.98
Total Debt	227.90	m
Total Debt/Net Current Assets	-9.82	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	6.27	%
5 yr Compound Earnings Growth	21.29	%
10 yr Compound Earnings Growth	20.51	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.0627	0.0483

Johnson Service Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	11.08	%
Return On Assets (ROA)	7.54	%
Net Profit Margin	8.81	%
Assets Turnover	0.86
Return On Equity (ROE)	14.89	%
Return On Investment (ROI)	9.62	%
Dividend Payout Ratio	41.67	%
Plowback Ratio	58.33	%
Growth from Plowback Ratio	9.06	%
Net Income Of Revenues	5.39	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.76
Fixed Assets Turnover	1.02
Current Assets Turnover	5.28
Net Working Capital Turnover
Inventory Turnover	137.49
(Other Operating Ratios)
Total Assets-to-Sales	1.17
Debtors-to-Sales	16.03	%
Debt Collection Period	58.51	Days

Johnson Service Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
02 Mar 2020	Final	GBX	2.35	31/12/2018	31/12/2019	13/04/2020	14/04/2020	07/05/2020	3.50
03 Sep 2019	Interim	GBX	1.15	31/12/2018	31/12/2019	03/10/2019	04/10/2019	01/11/2019	-
04 Mar 2019	Final	GBX	2.10	31/12/2017	31/12/2018	11/04/2019	12/04/2019	10/05/2019	3.10
04 Sep 2018	Interim	GBX	1.00	31/12/2017	31/12/2018	04/10/2018	05/10/2018	02/11/2018	-
27 Feb 2018	Final	GBX	1.90	31/12/2016	31/12/2017	12/04/2018	13/04/2018	11/05/2018	2.80
04 Sep 2017	Interim	GBX	0.90	31/12/2016	31/12/2017	05/10/2017	06/10/2017	03/11/2017	-
28 Feb 2017	Final	GBX	1.70	31/12/2015	31/12/2016	17/04/2017	18/04/2017	12/05/2017	2.50
06 Sep 2016	Interim	GBX	0.80	31/12/2015	31/12/2016	06/10/2016	07/10/2016	04/11/2016	-
01 Mar 2016	Final	GBX	1.45	31/12/2014	31/12/2015	14/04/2016	15/04/2016	13/05/2016	2.10
02 Sep 2015	Interim	GBX	0.65	31/12/2014	31/12/2015	08/10/2015	09/10/2015	06/11/2015	-
03 Mar 2015	Final	GBX	1.20	31/12/2013	31/12/2014	16/04/2015	17/04/2015	15/05/2015	1.70
02 Sep 2014	Interim	GBX	0.50	31/12/2013	31/12/2014	08/10/2014	10/10/2014	07/11/2014	-
03 Mar 2014	Final	GBX	0.81	31/12/2012	31/12/2013	20/04/2014	22/04/2014	16/05/2014	1.21
03 Sep 2013	Interim	GBX	0.40	31/12/2012	31/12/2013	08/10/2013	11/10/2013	08/11/2013	-
05 Mar 2013	Final	GBX	0.74	31/12/2011	31/12/2012	17/04/2013	19/04/2013	17/05/2013	1.10
04 Sep 2012	Interim	GBX	0.36	31/12/2011	31/12/2012	10/10/2012	12/10/2012	09/11/2012	-
06 Mar 2012	Final	GBX	0.67	31/12/2010	31/12/2011	18/04/2012	20/04/2012	18/05/2012	1.00
06 Sep 2011	Interim	GBX	0.33	31/12/2010	31/12/2011	12/10/2011	14/10/2011	11/11/2011	-
08 Mar 2011	Final	GBX	0.55	31/12/2009	31/12/2010	24/04/2011	26/04/2011	20/05/2011	0.82
01 Sep 2010	Interim	GBX	0.27	31/12/2009	31/12/2010	13/10/2010	15/10/2010	12/11/2010	-
09 Mar 2010	Final	GBX	0.50	31/12/2008	31/12/2009	21/04/2010	23/04/2010	21/05/2010	0.75
09 Sep 2009	Interim	GBX	0.25	30/12/2008	30/06/2009	14/10/2009	16/10/2009	16/11/2009	-
10 Mar 2009	Final	GBX	-	31/12/2007	31/12/2008	-	-	-	-
29 Apr 2008	Final	GBX	-	31/12/2006	31/12/2007	-	-	-	-
10 Sep 2007	Interim	GBX	3.00	30/12/2006	30/06/2007	05/12/2007	07/12/2007	09/01/2008	-
20 Mar 2007	Final	GBX	15.00	31/12/2005	31/12/2006	06/06/2007	08/06/2007	09/07/2007	19.60
13 Sep 2006	Interim	GBX	4.60	30/12/2005	30/06/2006	27/09/2006	29/09/2006	20/10/2006	-
13 Mar 2006	Final	GBX	15.00	31/12/2004	31/12/2005	12/04/2006	18/04/2006	15/05/2006	19.40
12 Sep 2005	Interim	GBX	4.40	25/12/2004	25/06/2005	28/09/2005	30/09/2005	21/10/2005	-
14 Mar 2005	Final	GBX	14.30	25/12/2003	25/12/2004	13/04/2005	15/04/2005	13/05/2005	18.50
13 Sep 2004	Interim	GBX	4.20	26/12/2003	26/06/2004	29/09/2004	01/10/2004	22/10/2004	-
11 Mar 2004	Final	GBX	13.60	27/12/2002	27/12/2003	31/03/2004	02/04/2004	04/05/2004	17.60
19 Sep 2003	Interim	GBX	4.00	30/12/2002	30/06/2003	01/10/2003	03/10/2003	24/10/2003	-
04 Mar 2003	Final	GBX	13.60	28/12/2001	28/12/2002	02/04/2003	04/04/2003	01/05/2003	17.60
11 Sep 2002	Interim	GBX	4.00	29/12/2001	29/06/2002	18/09/2002	20/09/2002	11/10/2002	-
01 Mar 2002	Final	GBX	13.60	29/12/2000	29/12/2001	03/04/2002	05/04/2002	01/05/2002	17.60
11 Sep 2001	Interim	GBX	4.00	30/12/2000	30/06/2001	19/09/2001	21/09/2001	12/10/2001	-
23 Mar 2001	Final	GBX	13.20	30/12/1999	30/12/2000	04/04/2001	06/04/2001	09/05/2001	17.10
07 Sep 2000	Interim	GBX	3.90	30/12/1999	30/06/2000	18/09/2000	22/09/2000	20/10/2000	-
17 Mar 2000	Final	GBX	12.25	25/12/1998	25/12/1999	27/03/2000	31/03/2000	02/05/2000	15.90
06 Aug 1999	Interim	GBX	3.65	26/12/1998	26/06/1999	31/08/1999	06/09/1999	01/10/1999	-
12 Mar 1999	Final	GBX	11.00	26/12/1997	26/12/1998	22/03/1999	26/03/1999	04/05/1999	14.30

Johnson Service Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	256.70	100.00%	290.90	100.00%	321.10	100.00%	350.60	100.00%	m
pre tax profit	25.90	10.09%	31.20	10.73%	33.10	10.31%	38.10	10.87%	m
attributable profit	20.60	8.02%	25.70	8.83%	26.80	8.35%	30.90	8.81%	m
retained profit	12.90	5.03%	16.20	5.57%	16.10	5.01%	18.90	5.39%	m
eps - basic (p)	5.90		7.00		7.30		8.40
eps - diluted (p)	5.80		7.00		7.20		8.30
dividends per share	2.50		2.80		3.10		3.50

Johnson Service 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	81.70	22.73%	89.30	24.68%	96.00	24.98%	104.00	23.89%	m
intangibles	163.50	45.49%	163.80	45.27%	167.40	43.56%	167.20	38.40%	m
fixed investments	44.10	12.27%	50.10	13.85%	56.40	14.68%	95.80	22.00%	m
current assets - other	17.20	4.79%	-	-%	-	-%	-	-%	m
stocks	2.20	0.61%	2.90	0.80%	2.80	0.73%	2.30	0.53%	m
debtors	47.80	13.30%	50.40	13.93%	54.60	14.21%	57.80	13.28%	m
cash & securities	2.90	0.81%	5.30	1.46%	7.10	1.85%	8.30	1.91%	m

TOTAL	359.40	100%	361.80	100%	384.30	100%	435.40	100%	m

LIABILITIES
creditors - short	96.40	26.82%	85.80	23.71%	85.90	22.35%	91.60	21.04%	m
creditors - long	115.90	32.25%	108.40	29.96%	108.00	28.10%	136.30	31.30%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	212.30	59.07%	194.20	53.68%	193.90	50.46%	227.90	52.34%	m

EQUITY
ord cap, reserves	147.10	40.93%	167.60	46.32%	190.40	49.54%	207.50	47.66%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	147.10	40.93%	167.60	46.32%	190.40	49.54%	207.50	47.66%	m

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

Johnson Service Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	72.60	77.90	82.50	106.10	m
Pre-Financing CF	-32.10	18.50	3.90	29.70	m
Retained CF	2.90	-2.20	-1.00	1.80	m

Johnson Service Brokers

Name	Activity	Type	Mnemonic	Code
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Investec Bank Plc	Market Maker(MME)	Broker/Dealer	INV.	IHCSGB21002
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
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