Montanaro Uk Smaller Com... (MTU)

Company name:	Montanaro Uk Smaller Companies Investment Trust Plc
EPIC:	MTU	Trading Currency:	GBX
Market Sector:	SSC7	ISIN:	GB00BZ1H9L86
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.montanaro.co.uk/our-trusts/uk-smaller-companies-investment-trust/overview	Description:	ORD 2P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
124.00	-2.0 [-1.59]	124.00	124.50	128.00	128.00	125.00	139,901
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
207.55	167.38	0.02	2.73	5.31	45.42	4.28	150.00 - 71.20

Montanaro Uk Smaller Com... Key Figures

(at previous day's close)
Market Cap.	207.55	m
Shares In Issue	167.38	m
Prev. Close	126.00
PE Ratio	45.42
Dividend Yield	4.28	%
EPS - basic	2.73	p
Dividend PS	5.31	p
Dividend Cover	0.51
Cash Flow PS	-	p
Return On Equity (ROE)	2.40	%
Operating Margin	81.83	%
PEG Factor	4.14
EPS Growth Rate	10.98	%
Dividends PS Growth Rate	36.50	%
Net Debt	8.23	m
Gross Gearing	9.65	%
Quick Assets	15.15	m
Net Working Capital	14.82	m
Intangibles / Fixed Assets	-	%
Turnover PS	3.34	p
Pre-Tax Profit PS	2.74	p
Retained Profit PS	-2.73	p
Cash PS	7.23	p
Net Cash PS	7.03	p
Net Tangible Asset Value PS *	113.76	p
Net Asset Value PS	113.76	p
Spread	0.50 (0.40%)
* 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.

Montanaro Uk Smaller Com... Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	128.00	119.00
4 weeks	128.00	109.50
12 weeks	128.00	109.50
1 year	150.00	71.20

Share Price Chart (5 years)

Montanaro Uk Smaller Com... Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	119.00	5.00	4.20	119.00	0.23		124.87
4 weeks	111.50	12.50	11.21	109.50	0.21		119.28
12 weeks	110.00	14.00	12.73	109.50	0.16		117.25
26 weeks	103.00	21.00	20.39	100.00	0.21		110.94
1 year	110.50	13.50	12.22	71.20	0.30		118.05
3 years	117.00	7.00	5.98	71.20	0.16		115.99
5 years	100.40	23.60	23.51	71.20	0.11		114.39
† periods calculated are whole weeks rather than calendar months

Montanaro Uk Smaller Com... Key Management Ratios

Montanaro Uk Smaller Com... Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	-
PE Ratio	45.42
Tobin's Q Ratio	0.93
Tobin's Q Ratio (excl. intangibles)	0.93
Dividend Yield	4.28	%
Market-to-Book Ratio	1.09
Price-to-Pre-Tax Profit PS	45.33
Price-to-Retained Profit PS	-45.44
Price-to-Cash Flow PS	-
Price-to-Sales PS	37.09
Price-to-Net Tangible Asset Value PS	1.09
Price-to-Cash PS	17.16
Net Working Capital PS	8.85
Price Pct to Working Capital PS	14.01	%
Earnings Yield	2.20	%
Average PE	21.40
Years in average	5
PE to PE average	212.23	%

Montanaro Uk Smaller Com... Financial Ratios

(Leverage Ratios)
Debt Ratio	9.51	%
Debt-to-Equity Ratio	0.11
Debt-to-Equity Ratio (excl. Intgbl)	0.11
Debt-to-Equity Market Value	0.10
Net Gearing	3.91	%
Net Gearing (excl. Intangibles)	3.91	%
Gross Gearing	9.65	%
Gross Gearing (excl. Intangibles)	9.65	%
Gearing Under 1 Year	0.16	%
Gearing Under 1 Year (excl. Intgbl)	0.16	%
Assets/Equity	1.11
Cash/Equity	6.35
(Liquidity Ratios)
Net Working Capital to Total Assets	7.03	%
Current Ratio	45.90
Quick Ratio (Acid Test)	45.90
Liquidity Ratio	36.66
Cash & Equiv/Current Assets	79.87	%
(Solvency Ratios)
Enterprise Value	215.45	m
CFO/Sales	-
CFO/Attributable Profit	-
CFO/Assets	-
CFO/Debt	-
Total Debt/Equity Market Value	0.10
Total Debt/Sales	3.63
Total Debt/Pre-Tax Profit	4.44
Total Debt	20.33	m
Total Debt/Net Current Assets	1.37	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.0192	0.0139

Montanaro Uk Smaller Com... Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	2.18	%
Return On Assets (ROA)	2.04	%
Net Profit Margin	81.68	%
Assets Turnover	0.03
Return On Equity (ROE)	2.40	%
Return On Investment (ROI)	2.05	%
Dividend Payout Ratio	194.51	%
Plowback Ratio	-94.51	%
Growth from Plowback Ratio	-2.12	%
Net Income Of Revenues	-81.63	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.03
Fixed Assets Turnover	0.03
Current Assets Turnover	0.50
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	39.96
Debtors-to-Sales	30.84	%
Debt Collection Period	112.58	Days

Montanaro Uk Smaller Com... Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
14 Oct 2020	Interim	GBX	1.31	30/03/2020	30/09/2020	22/10/2020	23/10/2020	20/11/2020	-
10 Jul 2020	Interim	GBX	1.26	01/03/2020	30/06/2020	23/07/2020	24/07/2020	21/08/2020	-
14 Apr 2020	Interim	GBX	1.14	31/03/2019	31/03/2020	23/04/2020	24/04/2020	26/05/2020	5.31
29 Jan 2020	Interim	GBX	1.54	31/08/2019	31/12/2019	06/02/2020	07/02/2020	06/03/2020	-
16 Oct 2019	Interim	GBX	1.31	30/03/2019	30/09/2019	24/10/2019	25/10/2019	22/11/2019	-
17 Jul 2019	Interim	GBX	1.32	02/03/2019	30/06/2019	25/07/2019	26/07/2019	23/08/2019	-
16 Apr 2019	Interim	GBX	1.29	31/03/2018	31/03/2019	25/04/2019	26/04/2019	24/05/2019	3.89
19 Jan 2019	Interim	GBX	1.17	31/08/2018	31/12/2018	31/01/2019	01/02/2019	22/02/2019	-
19 Oct 2018	Interim	GBX	1.43	30/03/2018	30/09/2018	01/11/2018	02/11/2018	23/11/2018	-
12 Jun 2018	Final	GBX	11.00	31/03/2017	31/03/2018	28/06/2018	29/06/2018	27/07/2018	11.00
12 Jun 2017	Final	GBX	10.50	31/03/2016	31/03/2017	06/07/2017	07/07/2017	02/08/2017	10.50
13 Jun 2016	Final	GBX	10.00	31/03/2015	31/03/2016	30/06/2016	01/07/2016	10/08/2016	10.00
23 Jun 2015	Final	GBX	8.90	31/03/2014	31/03/2015	02/07/2015	03/07/2015	12/08/2015	8.90
24 Jun 2014	Final	GBX	7.50	31/03/2013	31/03/2014	02/07/2014	04/07/2014	13/08/2014	7.50
20 Jun 2013	Final	GBX	6.76	31/03/2012	31/03/2013	26/06/2013	28/06/2013	09/08/2013	6.76
20 Jun 2012	Final	GBX	6.76	31/03/2011	31/03/2012	27/06/2012	29/06/2012	10/08/2012	6.76
17 Jun 2011	Final	GBX	6.76	31/03/2010	31/03/2011	29/06/2011	01/07/2011	12/08/2011	6.76
21 Jun 2010	Final	GBX	3.20	31/03/2009	31/03/2010	30/06/2010	02/07/2010	13/08/2010	6.20
25 Nov 2009	Interim	GBX	3.00	30/03/2009	30/09/2009	02/12/2009	04/12/2009	18/12/2009	-
10 Jun 2009	Final	GBX	6.85	31/03/2008	31/03/2009	24/06/2009	26/06/2009	14/08/2009	6.85
30 May 2008	Final	GBX	3.65	31/03/2007	31/03/2008	11/06/2008	13/06/2008	18/08/2008	3.65
30 May 2007	Final	GBX	2.65	31/03/2006	31/03/2007	13/06/2007	15/06/2007	10/08/2007	2.65
30 May 2006	Final	GBX	2.30	31/03/2005	31/03/2006	07/06/2006	09/06/2006	25/07/2006	2.30
03 Jun 2005	Final	GBX	2.85	31/03/2004	31/03/2005	08/06/2005	10/06/2005	29/07/2005	2.85
18 May 2004	Final	GBX	2.85	31/03/2003	31/03/2004	26/05/2004	28/05/2004	30/07/2004	2.85
23 May 2003	Final	GBX	2.49	31/03/2002	31/03/2003	04/06/2003	06/06/2003	31/07/2003	2.49
27 May 2002	Final	GBX	1.85	31/03/2001	31/03/2002	04/06/2002	06/06/2002	31/07/2002	1.85
05 Jun 2001	Final	GBX	0.30	31/03/2000	31/03/2001	13/06/2001	15/06/2001	31/07/2001	0.30
25 May 2000	Final	GBX	0.30	31/03/1999	31/03/2000	05/06/2000	09/06/2000	31/07/2000	0.30
24 May 1999	Final	GBX	0.60	31/03/1998	31/03/1999	01/06/1999	07/06/1999	30/07/1999	0.60
12 May 1998	Final	GBX	0.60	31/03/1997	31/03/1998	18/05/1998	22/05/1998	30/07/1998	0.60

Montanaro Uk Smaller Com... Fundamentals

	31 Mar 2017 (GBP)		31 Mar 2018 (GBP)		31 Mar 2019 (GBP)		31 Mar 2020 (GBP)
turnover	-	-	5.09	100.00%	5.11	100.00%	5.60	100.00%	m
pre tax profit	3.37	-	4.12	80.97%	4.13	80.74%	4.58	81.83%	m
attributable profit	3.36	-	4.11	80.83%	4.12	80.60%	4.57	81.68%	m
retained profit	0.01	-	0.60	11.74%	-3.92	-76.67%	-4.57	-81.63%	m
eps - basic (p)	10.00		12.30		2.46		2.73
eps - diluted (p)	10.00		12.30		2.46		2.73
dividends per share	10.50		11.00		3.89		5.31

Montanaro Uk Smaller Com... 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	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	217.48	93.65%	233.47	94.26%	229.48	97.01%	195.59	92.81%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	0.48	0.21%	0.72	0.29%	0.40	0.17%	3.05	1.45%	m
cash & securities	14.26	6.14%	13.49	5.45%	6.66	2.82%	12.10	5.74%	m

TOTAL	232.22	100%	247.68	100%	236.54	100%	210.74	100%	m

LIABILITIES
creditors - short	0.78	0.33%	0.34	0.14%	0.32	0.14%	0.33	0.16%	m
creditors - long	20.00	8.61%	20.00	8.08%	20.00	8.46%	20.00	9.49%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	20.78	8.95%	20.34	8.21%	20.32	8.59%	20.33	9.65%	m

EQUITY
ord cap, reserves	211.44	91.05%	227.34	91.79%	216.22	91.41%	190.41	90.35%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	211.44	91.05%	227.34	91.79%	216.22	91.41%	190.41	90.35%	m

OTHER
NAV Basic	631.60		-		129.18		113.76
NAV Diluted	631.60		-		129.18		113.76

Montanaro Uk Smaller Com... Cash Flow Statement

	31 Mar 2017 (GBP)	31 Mar 2018 (GBP)	31 Mar 2019 (GBP)	31 Mar 2020 (GBP)
Operating CF	-	-	-	-	m
Pre-Financing CF	-	-	-	-	m
Retained CF	-	-	-	-	m

Montanaro Uk Smaller Com... Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MME)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC