Blackrock Throgmorton (THRG)

Company name:	Blackrock Throgmorton Trust Plc
EPIC:	THRG	Trading Currency:	GBX
Market Sector:	SSC6	ISIN:	GB0008910555
Market Segment:	SSMM	Share Type:	DE
WWW Address:	https://www.blackrock.com/uk/	Description:	ORD 5P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
766.00	1.0 [0.13]	764.00	766.00	764.00	770.00	764.00	269,586
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
682.20	89.06	0.09	8.56	10.20	89.49	1.33	790.00 - 317.00

Blackrock Throgmorton Key Figures

(at previous day's close)
Market Cap.	682.20	m
Shares In Issue	89.06	m
Prev. Close	765.00
PE Ratio	89.49
Dividend Yield	1.33	%
EPS - basic	8.56	p
Dividend PS	10.20	p
Dividend Cover	0.84
Cash Flow PS	-1.69	p
Return On Equity (ROE)	1.33	%
Operating Margin	85.31	%
PEG Factor	-4.01
EPS Growth Rate	-22.32	%
Dividends PS Growth Rate	2.00	%
Net Debt	-18.54	m
Gross Gearing	2.46	%
Quick Assets	34.39	m
Net Working Capital	22.53	m
Intangibles / Fixed Assets	-	%
Turnover PS	8.28	p
Pre-Tax Profit PS	7.06	p
Retained Profit PS	-1.18	p
Cash PS	34.13	p
Net Cash PS	20.82	p
Net Tangible Asset Value PS *	527.80	p
Net Asset Value PS	634.10	p
Spread	2.00 (0.26%)
* 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.

Blackrock Throgmorton Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	772.00	752.00
4 weeks	790.00	710.00
12 weeks	790.00	616.00
1 year	790.00	317.00

Share Price Chart (5 years)

Blackrock Throgmorton Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	762.00	4.00	0.52	752.00	0.19		761.24
4 weeks	710.00	56.00	7.89	710.00	0.24		761.26
12 weeks	640.00	126.00	19.69	616.00	0.24		709.85
26 weeks	564.00	202.00	35.82	556.00	0.17		669.77
1 year	702.00	64.00	9.12	317.00	0.24		590.62
3 years	490.50	275.50	56.17	317.00	0.17		570.98
5 years	325.00	441.00	135.69	264.75	0.13		532.98
† periods calculated are whole weeks rather than calendar months

Blackrock Throgmorton Key Management Ratios

Blackrock Throgmorton Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	-
PE Ratio	89.49
Tobin's Q Ratio	1.57
Tobin's Q Ratio (excl. intangibles)	1.57
Dividend Yield	1.33	%
Market-to-Book Ratio	1.45
Price-to-Pre-Tax Profit PS	108.51
Price-to-Retained Profit PS	-650.95
Price-to-Cash Flow PS	-453.29
Price-to-Sales PS	92.56
Price-to-Net Tangible Asset Value PS	1.21
Price-to-Cash PS	22.44
Net Working Capital PS	25.30
Price Pct to Working Capital PS	30.28	%
Earnings Yield	1.12	%
Average PE	49.00
Years in average	5
PE to PE average	182.61	%

Blackrock Throgmorton Financial Ratios

(Leverage Ratios)
Debt Ratio	-	%
Debt-to-Equity Ratio	-
Debt-to-Equity Ratio (excl. Intgbl)	-
Debt-to-Equity Market Value	-
Net Gearing	-3.85	%
Net Gearing (excl. Intangibles)	-3.85	%
Gross Gearing	2.46	%
Gross Gearing (excl. Intangibles)	2.46	%
Gearing Under 1 Year	2.46	%
Gearing Under 1 Year (excl. Intgbl)	2.46	%
Assets/Equity	1.03
Cash/Equity	6.47
(Liquidity Ratios)
Net Working Capital to Total Assets	4.68	%
Current Ratio	2.90
Quick Ratio (Acid Test)	2.90
Liquidity Ratio	2.56
Cash & Equiv/Current Assets	88.39	%
(Solvency Ratios)
Enterprise Value	651.80	m
CFO/Sales	-0.20
CFO/Attributable Profit	-
CFO/Assets	-0.00
CFO/Debt	-0.13
Total Debt/Equity Market Value	0.02
Total Debt/Sales	1.61
Total Debt/Pre-Tax Profit	1.89
Total Debt	11.86	m
Total Debt/Net Current Assets	0.53	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	1.16	%
10 yr Compound Earnings Growth	11.63	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.0877	0.0233

Blackrock Throgmorton Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	1.34	%
Return On Assets (ROA)	1.45	%
Net Profit Margin	85.01	%
Assets Turnover	0.02
Return On Equity (ROE)	1.33	%
Return On Investment (ROI)	1.47	%
Dividend Payout Ratio	119.16	%
Plowback Ratio	-19.16	%
Growth from Plowback Ratio	-0.28	%
Net Income Of Revenues	-14.22	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.02
Fixed Assets Turnover	0.02
Current Assets Turnover	0.20
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	58.81
Debtors-to-Sales	58.24	%
Debt Collection Period	212.59	Days

Blackrock Throgmorton Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
23 Jul 2020	Interim	GBX	2.50	30/11/2019	30/11/2020	30/07/2020	31/07/2020	28/08/2020	-
06 Feb 2020	Final	GBX	7.70	30/11/2018	30/11/2019	20/02/2020	21/02/2020	02/04/2020	10.20
23 Jul 2019	Interim	GBX	2.50	30/11/2018	30/11/2019	01/08/2019	02/08/2019	28/08/2019	-
12 Feb 2019	Final	GBX	7.50	30/11/2017	30/11/2018	21/02/2019	22/02/2019	28/03/2019	10.00
26 Jul 2018	Interim	GBX	2.50	30/11/2017	30/11/2018	02/08/2018	03/08/2018	29/08/2018	-
12 Feb 2018	Final	GBX	7.00	30/11/2016	30/11/2017	22/02/2018	23/02/2018	29/03/2018	9.00
24 Jul 2017	Interim	GBX	2.00	30/11/2016	30/11/2017	03/08/2017	04/08/2017	23/08/2017	-
06 Feb 2017	Final	GBX	6.25	30/11/2015	30/11/2016	16/02/2017	17/02/2017	29/03/2017	7.50
18 Jul 2016	Interim	GBX	1.25	30/11/2015	30/11/2016	28/07/2016	29/07/2016	19/08/2016	-
12 Feb 2016	Final	GBX	5.60	30/11/2014	30/11/2015	25/02/2016	26/02/2016	05/04/2016	6.70
24 Jul 2015	Interim	GBX	1.10	30/11/2014	30/11/2015	06/08/2015	07/08/2015	21/08/2015	-
13 Feb 2015	Final	GBX	3.60	30/11/2013	30/11/2014	26/02/2015	27/02/2015	07/04/2015	4.40
24 Jul 2014	Interim	GBX	0.80	30/11/2013	30/11/2014	30/07/2014	01/08/2014	22/08/2014	-
10 Feb 2014	Final	GBX	3.25	30/11/2012	30/11/2013	24/02/2014	26/02/2014	04/04/2014	4.00
23 Jul 2013	Interim	GBX	0.75	30/11/2012	30/11/2013	31/07/2013	02/08/2013	23/08/2013	-
08 Feb 2013	Final	GBX	2.70	30/11/2011	30/11/2012	18/03/2013	20/03/2013	04/04/2013	3.32
13 Jul 2012	Interim	GBX	0.62	30/11/2011	30/11/2012	25/07/2012	27/07/2012	24/08/2012	-
13 Feb 2012	Final	GBX	2.55	30/11/2010	30/11/2011	22/02/2012	24/02/2012	05/04/2012	3.15
27 Jul 2011	Interim	GBX	0.60	30/11/2010	30/11/2011	03/08/2011	05/08/2011	31/08/2011	-
04 Feb 2011	Final	GBX	2.42	30/11/2009	30/11/2010	16/02/2011	18/02/2011	25/03/2011	3.00
20 Jul 2010	Interim	GBX	0.58	30/11/2009	30/11/2010	28/07/2010	30/07/2010	31/08/2010	-
29 Jan 2010	Final	GBX	2.20	30/11/2008	30/11/2009	17/02/2010	19/02/2010	26/03/2010	4.75
29 Jan 2010	Special	GBX	2.00	30/11/2008	30/11/2009	17/02/2010	19/02/2010	26/03/2010	-
21 Jul 2009	Interim	GBX	0.55	01/12/2008	31/05/2009	29/07/2009	31/07/2009	27/08/2009	-
30 Jan 2009	Special	GBX	1.85	30/11/2007	30/11/2008	01/04/2009	03/04/2009	01/05/2009	-
30 Jan 2009	Final	GBX	1.85	30/11/2007	30/11/2008	01/04/2009	03/04/2009	01/05/2009	5.40
16 Jul 2008	Interim	GBX	0.55	01/12/2007	31/05/2008	06/08/2008	08/08/2008	12/09/2008	-
12 Feb 2008	Final	GBX	1.70	30/11/2006	30/11/2007	27/02/2008	29/02/2008	27/03/2008	2.20
09 Aug 2007	Interim	GBX	0.50	01/12/2006	31/05/2007	15/08/2007	17/08/2007	04/09/2007	-
09 Feb 2007	Final	GBX	1.50	30/11/2005	30/11/2006	28/02/2007	02/03/2007	05/04/2007	2.00
10 Jul 2006	Interim	GBX	0.50	01/12/2005	31/05/2006	19/07/2006	21/07/2006	18/08/2006	-
26 Jan 2006	Final	GBX	1.25	30/11/2004	30/11/2005	01/03/2006	03/03/2006	05/04/2006	1.75
14 Jul 2005	Interim	GBX	0.50	01/12/2004	31/05/2005	20/07/2005	22/07/2005	19/08/2005	-
01 Feb 2005	Final	GBX	1.10	30/11/2003	30/11/2004	02/03/2005	04/03/2005	05/04/2005	1.60
15 Jul 2004	Interim	GBX	0.50	01/12/2003	31/05/2004	21/07/2004	23/07/2004	13/08/2004	-
05 Feb 2004	Final	GBX	1.00	30/11/2002	30/11/2003	03/03/2004	05/03/2004	31/03/2004	1.50
10 Jul 2003	Interim	GBX	0.50	01/12/2002	31/05/2003	16/07/2003	18/07/2003	08/08/2003	-
30 Jan 2003	Final	GBX	1.00	30/11/2001	30/11/2002	05/03/2003	07/03/2003	26/03/2003	1.50
04 Jul 2002	Interim	GBX	0.50	01/12/2001	31/05/2002	10/07/2002	12/07/2002	08/08/2002	-
24 Jan 2002	Final	GBX	1.00	30/11/2000	30/11/2001	06/02/2002	08/02/2002	25/03/2002	1.50
05 Jul 2001	Interim	GBX	0.50	01/12/2000	31/05/2001	11/07/2001	13/07/2001	10/08/2001	-
17 Jan 2001	Final	GBX	1.00	30/11/1999	30/11/2000	29/01/2001	02/02/2001	08/03/2001	1.50
06 Jul 2000	Interim	GBX	0.50	01/12/1999	31/05/2000	17/07/2000	21/07/2000	11/08/2000	-
19 Jan 2000	Final	GBX	1.55	30/11/1998	30/11/1999	31/01/2000	04/02/2000	28/02/2000	2.50
08 Jul 1999	Interim	GBX	0.95	01/12/1998	31/05/1999	19/07/1999	23/07/1999	06/08/1999	-
01 Feb 1999	Final	GBX	1.50	30/11/1997	30/11/1998	15/02/1999	19/02/1999	10/03/1999	2.42
10 Jul 1998	Interim	GBX	0.92	01/12/1997	31/05/1998	20/07/1998	24/07/1998	07/08/1998	-

Blackrock Throgmorton Fundamentals

	30 Nov 2016 (GBP)		30 Nov 2017 (GBP)		30 Nov 2018 (GBP)		30 Nov 2019 (GBP)
turnover	6.87	100.00%	8.60	100.00%	9.07	100.00%	7.37	100.00%	m
pre tax profit	5.73	83.39%	7.41	86.20%	8.07	88.91%	6.29	85.31%	m
attributable profit	5.72	83.29%	7.40	85.99%	8.06	88.78%	6.27	85.01%	m
retained profit	0.71	10.39%	1.36	15.85%	1.11	12.22%	-1.05	-14.22%	m
eps - basic (p)	7.83		10.11		11.02		8.56
eps - diluted (p)	7.83		10.11		11.02		8.56
dividends per share	7.50		9.00		10.00		10.20

Blackrock Throgmorton Balance Sheet

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


	30 Nov 2016 (GBP)		30 Nov 2017 (GBP)		30 Nov 2018 (GBP)		30 Nov 2019 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	299.01	97.71%	390.52	96.10%	346.20	89.95%	447.53	92.86%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	1.35	0.44%	2.82	0.69%	4.59	1.19%	3.99	0.83%	m
cash & securities	5.66	1.85%	13.05	3.21%	34.08	8.86%	30.40	6.31%	m

TOTAL	306.01	100%	406.38	100%	384.87	100%	481.92	100%	m

LIABILITIES
creditors - short	4.47	1.46%	9.54	2.35%	5.27	1.37%	11.86	2.46%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	4.47	1.46%	9.54	2.35%	5.27	1.37%	11.86	2.46%	m

EQUITY
ord cap, reserves	301.55	98.54%	396.85	97.65%	379.60	98.63%	470.06	97.54%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	301.55	98.54%	396.85	97.65%	379.60	98.63%	470.06	97.54%	m

OTHER
NAV Basic	412.34		542.66		519.08		634.10
NAV Diluted	412.34		542.66		519.08		634.10

Blackrock Throgmorton Cash Flow Statement

	30 Nov 2016 (GBP)	30 Nov 2017 (GBP)	30 Nov 2018 (GBP)	30 Nov 2019 (GBP)
Operating CF	8.20	13.65	28.06	-1.51	m
Pre-Financing CF	8.20	13.65	28.06	-1.51	m
Retained CF	3.19	7.61	21.10	-3.68	m

Blackrock Throgmorton Brokers

Name	Activity	Type	Mnemonic	Code
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
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Oriel Securities Limited	Market Maker(MME)	Broker/Dealer	OREL	ORSNGB21
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC