Sage (SGE)

Company name:	Sage Group Plc
Company Description:	A group engaged in the development; distribution and support of business management software and related products and services for medium-sized and smaller businesses
EPIC:	SGE	Trading Currency:	GBX
Market Sector:	FS10	ISIN:	GB00B8C3BL03
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.sage.com/	Description:	ORD 1 4/77P
Industry Sector:	SOFTWARE & COMPUTER SERVICES

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
601.80	0.6 [0.10]	601.80	602.00	602.00	610.20	596.80	1,706,112
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
6,578.18	1,093.08	0.08	27.43	17.25	21.94	2.87	794.60 - 515.60

Sage Key Figures

(at previous day's close)
Market Cap.	6,578.18	m
Shares In Issue	1,093.08	m
Prev. Close	601.20
PE Ratio	21.94
Dividend Yield	2.87	%
EPS - basic	27.43	p
Dividend PS	17.25	p
Dividend Cover	1.59
Cash Flow PS	37.14	p
Return On Equity (ROE)	18.10	%
Operating Margin	20.28	%
PEG Factor	1.83
EPS Growth Rate	12.00	%
Dividends PS Growth Rate	2.01	%
Net Debt	1,232.00	m
Gross Gearing	55.53	%
Quick Assets	1,367.00	m
Net Working Capital	352.00	m
Intangibles / Fixed Assets	92.59	%
Turnover PS	174.09	p
Pre-Tax Profit PS	35.31	p
Retained Profit PS	10.34	p
Cash PS	76.02	p
Net Cash PS	-16.83	p
Net Tangible Asset Value PS *	-47.75	p
Net Asset Value PS	151.13	p
Spread	0.20 (0.03%)
* 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.

Sage Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	615.00	555.20
4 weeks	615.00	543.20
12 weeks	701.20	543.20
1 year	794.60	515.60

Share Price Chart (5 years)

Sage Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	560.40	41.40	7.39	555.20	3.02		582.63
4 weeks	587.80	14.00	2.38	543.20	2.73		579.40
12 weeks	628.00	-26.20	-4.17	543.20	3.57		600.33
26 weeks	701.20	-99.40	-14.18	543.20	2.88		655.64
1 year	761.20	-159.40	-20.94	515.60	3.33		656.48
3 years	818.80	-217.00	-26.50	491.30	3.19		661.08
5 years	560.50	41.30	7.37	491.30	3.07		665.88
† periods calculated are whole weeks rather than calendar months

Sage Key Management Ratios

Sage Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	54.75
PE Ratio	21.94
Tobin's Q Ratio	1.86
Tobin's Q Ratio (excl. intangibles)	5.13
Dividend Yield	2.87	%
Market-to-Book Ratio	3.98
Price-to-Pre-Tax Profit PS	17.04
Price-to-Retained Profit PS	58.21
Price-to-Cash Flow PS	16.20
Price-to-Sales PS	3.46
Price-to-Net Tangible Asset Value PS	-12.60
Price-to-Cash PS	7.92
Net Working Capital PS	32.20
Price Pct to Working Capital PS	18.69	%
Earnings Yield	4.56	%
Average PE	27.89
Years in average	5
PE to PE average	78.66	%

Sage Financial Ratios

(Leverage Ratios)
Debt Ratio	38.81	%
Debt-to-Equity Ratio	0.63
Debt-to-Equity Ratio (excl. Intgbl)	-2.01
Debt-to-Equity Market Value	0.16
Net Gearing	33.16	%
Net Gearing (excl. Intangibles)	79.95	%
Gross Gearing	55.53	%
Gross Gearing (excl. Intangibles)	133.87	%
Gearing Under 1 Year	27.32	%
Gearing Under 1 Year (excl. Intgbl)	65.87	%
Assets/Equity	2.25
Cash/Equity	50.30
(Liquidity Ratios)
Net Working Capital to Total Assets	9.48	%
Current Ratio	1.35
Quick Ratio (Acid Test)	1.35
Liquidity Ratio	0.82
Cash & Equiv/Current Assets	60.79	%
(Solvency Ratios)
Enterprise Value	6,795.18	m
CFO/Sales	0.21
CFO/Attributable Profit	1.36
CFO/Assets	0.11
CFO/Debt	0.20
Total Debt/Equity Market Value	0.31
Total Debt/Sales	1.08
Total Debt/Pre-Tax Profit	5.34
Total Debt	2,063.00	m
Total Debt/Net Current Assets	5.86	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	0.27	%
5 yr Compound Earnings Growth	7.31	%
10 yr Compound Earnings Growth	6.69	%
Earn drops > 5% in 10yrs	4

Beta (60-Mnth)	Beta (36-Mnth)
0.0773	0.0448

Sage Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	14.30	%
Return On Assets (ROA)	8.46	%
Net Profit Margin	15.71	%
Assets Turnover	0.54
Return On Equity (ROE)	18.10	%
Return On Investment (ROI)	12.14	%
Dividend Payout Ratio	62.89	%
Plowback Ratio	37.11	%
Growth from Plowback Ratio	7.03	%
Net Income Of Revenues	5.94	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.21
Fixed Assets Turnover	0.79
Current Assets Turnover	1.68
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	1.86
Debtors-to-Sales	23.62	%
Debt Collection Period	86.22	Days

Sage Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
20 Nov 2020	Final	GBX	11.32	30/09/2019	30/09/2020	14/01/2021	15/01/2021	11/02/2021	17.25
13 May 2020	Interim	GBX	5.93	01/10/2019	31/03/2020	21/05/2020	22/05/2020	12/06/2020	-
20 Nov 2019	Final	GBX	11.12	30/09/2018	30/09/2019	06/02/2020	07/02/2020	02/03/2020	16.91
17 May 2019	Interim	GBX	5.79	01/10/2018	31/03/2019	30/05/2019	31/05/2019	14/06/2019	-
21 Nov 2018	Final	GBX	10.85	30/09/2017	30/09/2018	07/02/2019	08/02/2019	01/03/2019	16.50
02 May 2018	Interim	GBX	5.65	01/10/2017	31/03/2018	10/05/2018	11/05/2018	01/06/2018	-
22 Nov 2017	Final	GBX	10.20	30/09/2016	30/09/2017	08/02/2018	09/02/2018	02/03/2018	15.42
03 May 2017	Interim	GBX	5.22	01/10/2016	31/03/2017	11/05/2017	12/05/2017	02/06/2017	-
30 Nov 2016	Final	GBX	9.35	30/09/2015	30/09/2016	09/02/2017	10/02/2017	03/03/2017	14.15
05 May 2016	Interim	GBX	4.80	01/10/2015	31/03/2016	12/05/2016	13/05/2016	03/06/2016	-
02 Dec 2015	Final	GBX	8.65	30/09/2014	30/09/2015	11/02/2016	12/02/2016	04/03/2016	13.15
06 May 2015	Interim	GBX	4.50	01/10/2014	31/03/2015	14/05/2015	15/05/2015	06/06/2015	-
03 Dec 2014	Final	GBX	8.00	30/09/2013	30/09/2014	12/02/2015	13/02/2015	06/03/2015	12.12
08 May 2014	Interim	GBX	4.12	01/10/2013	31/03/2014	14/05/2014	16/05/2014	06/06/2014	-
04 Dec 2013	Final	GBX	7.44	30/09/2012	30/09/2013	12/02/2014	14/02/2014	10/03/2014	11.13
08 May 2013	Interim	GBX	3.69	01/10/2012	31/03/2013	15/05/2013	17/05/2013	07/06/2013	-
05 Dec 2012	Final	GBX	6.67	30/09/2011	30/09/2012	13/02/2013	15/02/2013	08/03/2013	10.15
09 May 2012	Interim	GBX	3.48	01/10/2011	31/03/2012	16/05/2012	18/05/2012	08/06/2012	-
30 Nov 2011	Final	GBX	7.07	30/09/2010	30/09/2011	08/02/2012	10/02/2012	02/03/2012	9.75
04 May 2011	Interim	GBX	2.68	01/10/2010	31/03/2011	11/05/2011	13/05/2011	10/06/2011	-
01 Dec 2010	Final	GBX	5.22	30/09/2009	30/09/2010	09/02/2011	11/02/2011	11/03/2011	7.80
05 May 2010	Interim	GBX	2.58	01/10/2009	31/03/2010	12/05/2010	14/05/2010	18/06/2010	-
02 Dec 2009	Final	GBX	4.93	30/09/2008	30/09/2009	03/02/2010	05/02/2010	05/03/2010	7.43
06 May 2009	Interim	GBX	2.50	01/10/2008	31/03/2009	13/05/2009	15/05/2009	19/06/2009	-
03 Dec 2008	Final	GBX	4.78	30/09/2007	30/09/2008	04/02/2009	06/02/2009	06/03/2009	7.21
08 May 2008	Interim	GBX	2.43	01/10/2007	31/03/2008	14/05/2008	16/05/2008	20/06/2008	-
28 Nov 2007	Final	GBX	5.73	30/09/2006	30/09/2007	06/02/2008	08/02/2008	03/07/2008	7.00
08 May 2007	Interim	GBX	1.27	01/10/2006	31/03/2007	16/05/2007	18/05/2007	15/06/2007	-
29 Nov 2006	Final	GBX	2.51	30/09/2005	30/09/2006	07/02/2007	09/02/2007	09/03/2007	3.59
30 Nov 2005	Final	GBX	2.51	30/09/2005	30/09/2006	08/02/2006	10/02/2006	08/03/2006	3.59
09 May 2006	Interim	GBX	1.08	01/10/2005	31/03/2006	17/05/2006	19/05/2006	16/06/2006	-
01 Dec 2004	Final	GBX	1.72	30/09/2003	30/09/2004	09/02/2005	11/02/2005	11/03/2005	2.33
11 May 2004	Interim	GBX	0.61	01/10/2003	31/03/2004	19/05/2004	21/05/2004	18/06/2004	-
02 Dec 2003	Final	GBX	1.10	30/09/2002	30/09/2003	11/02/2004	13/02/2004	12/03/2004	1.10
07 May 2003	Interim	GBX	0.56	01/10/2002	31/03/2003	14/05/2003	16/05/2003	13/06/2003	-
03 Dec 2002	Final	GBX	1.34	30/09/2001	30/09/2002	19/02/2003	21/02/2003	14/03/2003	1.50
30 Apr 2002	Interim	GBX	0.16	01/10/2001	31/03/2002	15/05/2002	17/05/2002	17/06/2002	-
05 Dec 2001	Final	GBX	0.28	30/09/2000	30/09/2001	06/02/2002	08/02/2002	08/03/2002	0.43
09 May 2001	Interim	GBX	0.14	01/10/2000	31/03/2001	16/05/2001	18/05/2001	19/06/2001	-
06 Dec 2000	Final	GBX	0.26	30/09/1999	30/09/2000	07/02/2001	09/02/2001	07/03/2001	0.39
09 May 2000	Interim	GBX	0.13	01/10/1999	31/03/2000	15/05/2000	19/05/2000	19/06/2000	-
08 Dec 1999	Final	GBX	0.23	30/09/1998	30/09/1999	31/01/2000	04/02/2000	01/03/2000	0.35
09 Dec 1998	Final	GBX	0.21	30/09/1997	30/09/1998	01/02/1999	05/02/1999	01/03/1999	0.32

Sage Fundamentals

	30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)		30 Sep 2020 (GBP)
turnover	1,715.00	100.00%	1,846.00	100.00%	1,936.00	100.00%	1,903.00	100.00%	m
pre tax profit	342.00	19.94%	398.00	21.56%	361.00	18.65%	386.00	20.28%	m
attributable profit	300.00	17.49%	295.00	15.98%	266.00	13.74%	299.00	15.71%	m
retained profit	143.00	8.34%	124.00	6.72%	85.00	4.39%	113.00	5.94%	m
eps - basic (p)	27.80		27.21		24.49		27.43
eps - diluted (p)	27.71		27.07		24.29		27.21
dividends per share	15.42		16.50		16.91		17.25

Sage Balance Sheet

	30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)		30 Sep 2020 (GBP)


	30 Sep 2017 (GBP)		30 Sep 2018 (GBP)		30 Sep 2019 (GBP)		30 Sep 2020 (GBP)
ASSETS
fixed assets	133.00	4.13%	129.00	3.89%	117.00	3.49%	173.00	4.66%	m
intangibles	2,297.00	71.27%	2,268.00	68.38%	2,326.00	69.39%	2,174.00	58.52%	m
fixed investments	17.00	0.53%	20.00	0.60%	4.00	0.12%	1.00	0.03%	m
current assets - other	1.00	0.03%	113.00	3.41%	63.00	1.88%	108.00	2.91%	m
stocks	3.00	0.09%	1.00	0.03%	-	-%	-	-%	m
debtors	541.00	16.79%	514.00	15.50%	471.00	14.05%	428.00	11.52%	m
cash & securities	231.00	7.17%	272.00	8.20%	371.00	11.07%	831.00	22.37%	m

TOTAL	3,223.00	100%	3,317.00	100%	3,352.00	100%	3,715.00	100%	m

LIABILITIES
creditors - short	1,033.00	32.05%	1,005.00	30.30%	1,126.00	33.59%	1,015.00	27.32%	m
creditors - long	1,022.00	31.71%	985.00	29.70%	722.00	21.54%	1,048.00	28.21%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2,055.00	63.76%	1,990.00	59.99%	1,848.00	55.13%	2,063.00	55.53%	m

EQUITY
ord cap, reserves	1,168.00	36.24%	1,327.00	40.01%	1,504.00	44.87%	1,652.00	44.47%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1,168.00	36.24%	1,327.00	40.01%	1,504.00	44.87%	1,652.00	44.47%	m

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

Sage Cash Flow Statement

	30 Sep 2017 (GBP)	30 Sep 2018 (GBP)	30 Sep 2019 (GBP)	30 Sep 2020 (GBP)
Operating CF	302.00	393.00	472.00	406.00	m
Pre-Financing CF	-276.00	335.00	479.00	585.00	m
Retained CF	-47.00	107.00	42.00	497.00	m

Sage Brokers

Name	Activity	Type	Mnemonic	Code
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Piper Jaffray Ltd	Market Maker(MME)	Broker/Dealer	PIPR	PIPRGB21
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC