Kingspan (KGP)

Company name:	Kingspan Group Plc
EPIC:	KGP	Trading Currency:	EUR
Market Sector:	ON5	ISIN:	IE0004927939
Market Segment:	SET3	Share Type:	DE
WWW Address:	http://www.kingspan.com/	Description:	ORD EUR0.13
Industry Sector:	CONSTRUCTION & MATERIALS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
72.20	0.45 [0.63]	72.20	72.50	72.60	72.80	71.60	6,286
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
13,111.25	181.60	-0.00	204.60	-	35.29	-	84.65 - 37.44

Kingspan Key Figures

(at previous day's close)
Market Cap.	13,111.25	m
Shares In Issue	181.60	m
Prev. Close	71.75
PE Ratio	35.29
Dividend Yield	-	%
EPS - basic	204.60	¢(€)
Dividend PS	-	¢(€)
Dividend Cover	-
Cash Flow PS	286.57	¢(€)
Return On Equity (ROE)	17.84	%
Operating Margin	9.75	%
PEG Factor	3.15
EPS Growth Rate	11.20	%
Dividends PS Growth Rate	-	%
Net Debt	1,977.10	m
Gross Gearing	50.55	%
Quick Assets	999.20	m
Net Working Capital	628.20	m
Intangibles / Fixed Assets	58.58	%
Turnover PS	2,565.64	¢(€)
Pre-Tax Profit PS	250.23	¢(€)
Retained Profit PS	160.69	¢(€)
Cash PS	105.12	¢(€)
Net Cash PS	-406.23	¢(€)
Net Tangible Asset Value PS *	258.93	¢(€)
Net Asset Value PS	1,167.65	¢(€)
Spread	0.30 (0.41%)
* 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.

Kingspan Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	76.00	69.65
4 weeks	84.65	69.65
12 weeks	84.65	66.50
1 year	84.65	37.44

Share Price Chart (5 years)

Kingspan Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	76.00	-3.80	-5.00	69.65	0.07		71.15
4 weeks	75.85	-3.65	-4.81	69.65	0.06		75.79
12 weeks	67.40	4.80	7.12	66.50	0.06		74.84
26 weeks	56.10	16.10	28.70	50.85	0.06		67.78
1 year	48.36	23.84	49.30	37.44	0.07		58.66
3 years	34.34	37.86	110.25	32.00	0.07		47.08
5 years	24.81	47.39	191.01	17.38	0.07		38.16
† periods calculated are whole weeks rather than calendar months

Kingspan Key Management Ratios

Kingspan Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	36.50
PE Ratio	35.29
Tobin's Q Ratio	3.15
Tobin's Q Ratio (excl. intangibles)	5.03
Dividend Yield	-	%
Market-to-Book Ratio	6.33
Price-to-Pre-Tax Profit PS	28.85
Price-to-Retained Profit PS	44.93
Price-to-Cash Flow PS	25.19
Price-to-Sales PS	2.81
Price-to-Net Tangible Asset Value PS	25.20
Price-to-Cash PS	68.68
Net Working Capital PS	345.93
Price Pct to Working Capital PS	20.87	%
Earnings Yield	2.83	%
Average PE	0.22
Years in average	5
PE to PE average	15,946.56	%

Kingspan Financial Ratios

(Leverage Ratios)
Debt Ratio	36.89	%
Debt-to-Equity Ratio	0.58
Debt-to-Equity Ratio (excl. Intgbl)	2.38
Debt-to-Equity Market Value	0.09
Net Gearing	46.10	%
Net Gearing (excl. Intangibles)	73.54	%
Gross Gearing	50.55	%
Gross Gearing (excl. Intangibles)	80.65	%
Gearing Under 1 Year	21.65	%
Gearing Under 1 Year (excl. Intgbl)	34.54	%
Assets/Equity	2.02
Cash/Equity	9.00
(Liquidity Ratios)
Net Working Capital to Total Assets	14.65	%
Current Ratio	1.68
Quick Ratio (Acid Test)	1.08
Liquidity Ratio	0.21
Cash & Equiv/Current Assets	12.26	%
(Solvency Ratios)
Enterprise Value	14,209.85	m
CFO/Sales	0.11
CFO/Attributable Profit	1.41
CFO/Assets	0.12
CFO/Debt	0.24
Total Debt/Equity Market Value	0.17
Total Debt/Sales	0.47
Total Debt/Pre-Tax Profit	4.77
Total Debt	2,168.00	m
Total Debt/Net Current Assets	3.45	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	8.77	%
5 yr Compound Earnings Growth	13.91	%
10 yr Compound Earnings Growth	21.49	%
Earn drops > 5% in 10yrs	2

Beta (60-Mnth)	Beta (36-Mnth)
-0.0030	-0.0179

Kingspan Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	13.52	%
Return On Assets (ROA)	8.88	%
Net Profit Margin	7.93	%
Assets Turnover	1.12
Return On Equity (ROE)	17.84	%
Return On Investment (ROI)	11.60	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	19.34	%
Net Income Of Revenues	6.26	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	2.44
Fixed Assets Turnover	1.82
Current Assets Turnover	2.91
Net Working Capital Turnover
Inventory Turnover	8.61
(Other Operating Ratios)
Total Assets-to-Sales	0.89
Debtors-to-Sales	17.50	%
Debt Collection Period	63.88	Days

Kingspan Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
23 Aug 2019	Interim	EUX	13.00	31/12/2018	31/12/2019	05/09/2019	06/09/2019	04/10/2019	-
22 Feb 2019	Final	EUX	30.00	31/12/2017	31/12/2018	28/03/2019	29/03/2019	10/05/2019	42.00
24 Aug 2018	Interim	EUX	12.00	31/12/2017	31/12/2018	06/09/2018	07/09/2018	05/10/2018	-
23 Feb 2018	Final	EUX	26.00	31/12/2016	31/12/2017	22/03/2018	23/03/2018	27/04/2018	37.00
18 Aug 2017	Interim	EUX	11.00	31/12/2016	31/12/2017	31/08/2017	01/09/2017	06/10/2017	-
19 Feb 2017	Final	EUX	23.50	31/12/2015	31/12/2016	30/03/2017	31/03/2017	05/05/2017	33.50
22 Aug 2016	Interim	EUX	10.00	31/12/2015	31/12/2016	01/09/2016	02/09/2016	23/09/2016	-
22 Feb 2016	Final	EUX	17.00	31/12/2014	31/12/2015	21/04/2016	22/04/2016	13/05/2016	25.00
24 Aug 2015	Interim	EUX	8.00	31/12/2014	31/12/2015	03/09/2015	04/09/2015	25/09/2015	-
23 Feb 2015	Final	EUX	10.00	31/12/2013	31/12/2014	23/04/2015	24/04/2015	15/05/2015	16.25
26 Aug 2014	Interim	EUX	6.25	31/12/2013	31/12/2014	03/09/2014	05/09/2014	26/09/2014	-
24 Feb 2014	Final	EUX	8.50	31/12/2012	31/12/2013	23/04/2014	25/04/2014	15/05/2014	14.00
19 Aug 2013	Interim	EUX	5.50	31/12/2012	31/12/2013	28/08/2013	30/08/2013	20/09/2013	-
25 Feb 2013	Final	EUX	7.25	31/12/2011	31/12/2012	24/04/2013	26/04/2013	16/05/2013	12.25
20 Aug 2012	Interim	EUX	5.00	31/12/2011	31/12/2012	29/08/2012	31/08/2012	21/09/2012	-
27 Feb 2012	Final	EUX	6.50	31/12/2010	31/12/2011	25/04/2012	27/04/2012	17/05/2012	11.00
22 Aug 2011	Interim	EUX	4.50	31/12/2010	31/12/2011	31/08/2011	02/09/2011	23/09/2011	-
28 Feb 2011	Final	EUX	6.00	31/12/2009	31/12/2010	16/03/2011	18/03/2011	16/05/2011	10.00
23 Aug 2010	Interim	EUX	4.00	31/12/2009	31/12/2010	01/09/2010	03/09/2010	24/09/2010	-
02 Mar 2009	Final	EUX	-	31/12/2007	31/12/2008	-	-	-	8.00
27 Aug 2008	Interim	EUX	8.00	30/12/2007	30/06/2008	10/09/2008	12/09/2008	10/10/2008	8.00
08 Mar 2008	Final	EUX	17.00	31/12/2006	31/12/2007	12/03/2008	14/03/2008	30/05/2008	25.00
02 Mar 2007	Final	EUX	13.00	31/12/2005	31/12/2006	21/03/2007	23/03/2007	08/06/2007	19.00
05 Sep 2006	Interim	EUX	6.00	30/12/2005	30/06/2006	13/09/2006	15/09/2006	06/10/2006	-
06 Mar 2006	Final	EUX	8.95	31/12/2004	31/12/2005	22/03/2006	24/03/2006	09/06/2006	13.40
05 Sep 2005	Interim	EUX	4.45	30/12/2004	30/06/2005	14/09/2005	16/09/2005	07/10/2005	-
08 Mar 2005	Final	EUX	6.20	31/12/2003	31/12/2004	16/03/2005	18/03/2005	10/06/2005	9.60
07 Sep 2004	Interim	EUX	3.40	30/12/2003	30/06/2004	15/09/2004	17/09/2004	15/10/2004	-
09 Mar 2004	Final	EUX	4.60	31/12/2002	31/12/2003	17/03/2004	19/03/2004	11/06/2004	7.20
09 Sep 2003	Interim	EUX	2.60	30/12/2002	30/06/2003	17/09/2003	19/09/2003	10/10/2003	-
11 Mar 2003	Final	EUX	3.80	31/12/2001	31/12/2002	19/03/2003	21/03/2003	-	5.90
09 Sep 2002	Interim	EUX	2.10	30/12/2001	30/06/2002	18/09/2002	20/09/2002	11/10/2002	-
20 Mar 2002	Final	EUX	2.95	31/12/2000	31/12/2001	27/03/2002	02/04/2002	28/05/2002	4.70
05 Sep 2001	Interim	EUX	1.75	30/12/2000	30/06/2001	12/09/2001	14/09/2001	12/10/2001	-
20 Mar 2001	Final	EUX	2.27	31/12/1999	31/12/2000	28/03/2001	30/03/2001	28/05/2001	3.62
07 Sep 2000	Interim	EUX	1.35	30/12/1999	30/06/2000	18/09/2000	22/09/2000	23/10/2000	-
23 Mar 2000	Final	EUX	1.57	31/12/1998	31/12/1999	22/05/2000	26/05/2000	26/06/2000	2.50
02 Sep 1999	Interim	EUX	0.93	30/12/1998	30/06/1999	18/10/1999	22/10/1999	01/11/1999	-
03 Feb 1999	Final	EUX	0.85	31/12/1997	31/12/1998	15/02/1999	19/02/1999	24/03/1999	1.35
27 Aug 1998	Interim	EUX	0.50	30/12/1997	30/06/1998	07/09/1998	11/09/1998	19/10/1998	-
25 Mar 1998	Final	EUX	0.70	31/12/1996	31/12/1997	27/04/1998	01/05/1998	22/06/1998	1.12

Kingspan Fundamentals

	31 Dec 2016 (EUR)		31 Dec 2017 (EUR)		31 Dec 2018 (EUR)		31 Dec 2019 (EUR)
turnover	3,108.50	100.00%	3,668.10	100.00%	4,372.50	100.00%	4,659.10	100.00%	m
pre tax profit	314.00	10.10%	346.50	9.45%	404.90	9.26%	454.40	9.75%	m
attributable profit	255.40	8.22%	284.30	7.75%	330.90	7.57%	369.40	7.93%	m
retained profit	207.40	6.67%	222.60	6.07%	262.60	6.01%	291.80	6.26%	m
eps - basic	143.80		159.00		184.00		204.60
eps - diluted	141.60		157.30		182.30		202.90
dividends per share	33.50		37.00		42.00		-

Kingspan Balance Sheet

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


	31 Dec 2016 (EUR)		31 Dec 2017 (EUR)		31 Dec 2018 (EUR)		31 Dec 2019 (EUR)
ASSETS
fixed assets	665.50	22.15%	703.30	21.74%	850.50	21.11%	965.20	22.51%	m
intangibles	1,082.00	36.01%	1,186.00	36.65%	1,502.10	37.28%	1,600.10	37.31%	m
fixed investments	55.70	1.85%	30.20	0.93%	35.00	0.87%	166.30	3.88%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	365.50	12.16%	447.10	13.82%	524.90	13.03%	557.60	13.00%	m
debtors	613.90	20.43%	692.40	21.40%	822.40	20.41%	808.30	18.85%	m
cash & securities	222.00	7.39%	176.60	5.46%	294.50	7.31%	190.90	4.45%	m

TOTAL	3,004.60	100%	3,235.60	100%	4,029.40	100%	4,288.40	100%	m

LIABILITIES
creditors - short	765.70	25.48%	786.10	24.30%	1,018.80	25.28%	928.60	21.65%	m
creditors - long	767.40	25.54%	881.50	27.24%	1,221.70	30.32%	1,239.40	28.90%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1,533.10	51.03%	1,667.60	51.54%	2,240.50	55.60%	2,168.00	50.55%	m

EQUITY
ord cap, reserves	1,454.90	48.42%	1,528.10	47.23%	1,750.30	43.44%	2,070.30	48.28%	m
prefs, minorities	16.60	0.55%	39.90	1.23%	38.60	0.96%	50.10	1.17%	m

TOTAL	1,471.50	48.97%	1,568.00	48.46%	1,788.90	44.40%	2,120.40	49.45%	m

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

Kingspan Cash Flow Statement

	31 Dec 2016 (EUR)	31 Dec 2017 (EUR)	31 Dec 2018 (EUR)	31 Dec 2019 (EUR)
Operating CF	309.60	283.60	438.30	520.40	m
Pre-Financing CF	-47.80	30.30	-163.90	167.00	m
Retained CF	28.10	-35.30	120.10	-117.10	m

Kingspan Brokers

Name	Activity	Type	Mnemonic	Code
CREDIT SUISSE SEC (EUROPE) LTD	Market Maker(MME)	Broker/Dealer	CSFB	CSFBGB2L
J & E Davy	Market Maker(MME)	Broker/Dealer	DAVY	DAVEIE21
Deutsche Bank AG London Branch	Market Maker(MME)	Broker/Dealer	DEUT	DEUTGB2L
Goodbody Stockbrokers	Market Maker(MME)	Broker/Dealer	GOOD	GDBSIE2D002
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
Investec Bank Plc	Market Maker(MME)	Broker/Dealer	INV.	IHCSGB21002
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
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