Meggitt (MGGT)

Company name:	Meggitt Plc
EPIC:	MGGT	Trading Currency:	GBX
Market Sector:	F25F	ISIN:	GB0005758098
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.meggitt.com	Description:	ORD 5P
Industry Sector:	AEROSPACE & DEFENCE

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
399.40	3.5 [0.88]	398.40	398.80	393.50	406.90	387.60	2,788,459
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
3,120.25	781.23	0.25	28.80	5.55	13.87	1.39	691.80 - 196.15

Meggitt Key Figures

(at previous day's close)
Market Cap.	3,120.25	m
Shares In Issue	781.23	m
Prev. Close	395.90
PE Ratio	13.87
Dividend Yield	1.39	%
EPS - basic	28.80	p
Dividend PS	5.55	p
Dividend Cover	5.19
Cash Flow PS	46.96	p
Return On Equity (ROE)	9.06	%
Operating Margin	12.60	%
PEG Factor	0.57
EPS Growth Rate	24.14	%
Dividends PS Growth Rate	-66.67	%
Net Debt	2,131.80	m
Gross Gearing	48.21	%
Quick Assets	586.60	m
Net Working Capital	191.30	m
Intangibles / Fixed Assets	86.86	%
Turnover PS	291.36	p
Pre-Tax Profit PS	36.70	p
Retained Profit PS	11.80	p
Cash PS	19.88	p
Net Cash PS	-93.42	p
Net Tangible Asset Value PS *	-93.29	p
Net Asset Value PS	314.48	p
Spread	0.40 (0.10%)
* 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.

Meggitt Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	448.20	387.60
4 weeks	481.00	387.60
12 weeks	481.00	276.70
1 year	691.80	196.15

Share Price Chart (5 years)

Meggitt Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	432.30	-32.90	-7.61	387.60	2.41		418.89
4 weeks	471.10	-71.70	-15.22	387.60	2.86		440.68
12 weeks	277.20	122.20	44.08	276.70	3.20		417.13
26 weeks	287.00	112.40	39.16	245.10	3.13		343.85
1 year	686.20	-286.80	-41.80	196.15	4.44		334.98
3 years	472.90	-73.50	-15.54	196.15	2.99		437.61
5 years	358.60	40.80	11.38	196.15	2.71		443.24
† periods calculated are whole weeks rather than calendar months

Meggitt Key Management Ratios

Meggitt Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	29.75
PE Ratio	13.87
Tobin's Q Ratio	0.65
Tobin's Q Ratio (excl. intangibles)	2.02
Dividend Yield	1.39	%
Market-to-Book Ratio	1.27
Price-to-Pre-Tax Profit PS	10.88
Price-to-Retained Profit PS	33.84
Price-to-Cash Flow PS	8.50
Price-to-Sales PS	1.37
Price-to-Net Tangible Asset Value PS	-4.28
Price-to-Cash PS	20.09
Net Working Capital PS	24.49
Price Pct to Working Capital PS	16.31	%
Earnings Yield	7.21	%
Average PE	18.14
Years in average	5
PE to PE average	76.46	%

Meggitt Financial Ratios

(Leverage Ratios)
Debt Ratio	36.33	%
Debt-to-Equity Ratio	0.57
Debt-to-Equity Ratio (excl. Intgbl)	-1.92
Debt-to-Equity Market Value	0.45
Net Gearing	44.94	%
Net Gearing (excl. Intangibles)	136.80	%
Gross Gearing	48.21	%
Gross Gearing (excl. Intangibles)	146.77	%
Gearing Under 1 Year	18.66	%
Gearing Under 1 Year (excl. Intgbl)	56.80	%
Assets/Equity	1.93
Cash/Equity	6.32
(Liquidity Ratios)
Net Working Capital to Total Assets	4.03	%
Current Ratio	1.22
Quick Ratio (Acid Test)	0.66
Liquidity Ratio	0.18
Cash & Equiv/Current Assets	14.43	%
(Solvency Ratios)
Enterprise Value	4,366.95	m
CFO/Sales	0.16
CFO/Attributable Profit	1.65
CFO/Assets	0.08
CFO/Debt	0.16
Total Debt/Equity Market Value	0.73
Total Debt/Sales	1.00
Total Debt/Pre-Tax Profit	7.98
Total Debt	2,287.10	m
Total Debt/Net Current Assets	11.96	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	4.42	%
10 yr Compound Earnings Growth	3.66	%
Earn drops > 5% in 10yrs	8

Beta (60-Mnth)	Beta (36-Mnth)
0.2519	0.3126

Meggitt Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	7.43	%
Return On Assets (ROA)	4.64	%
Net Profit Margin	9.78	%
Assets Turnover	0.47
Return On Equity (ROE)	9.06	%
Return On Investment (ROI)	5.50	%
Dividend Payout Ratio	19.27	%
Plowback Ratio	80.73	%
Growth from Plowback Ratio	7.26	%
Net Income Of Revenues	4.05	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.92
Fixed Assets Turnover	0.61
Current Assets Turnover	2.10
Net Working Capital Turnover
Inventory Turnover	4.89
(Other Operating Ratios)
Total Assets-to-Sales	2.11
Debtors-to-Sales	19.53	%
Debt Collection Period	71.29	Days

Meggitt Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
06 Aug 2019	Interim	GBX	5.55	31/12/2018	31/12/2019	05/09/2019	06/09/2019	04/10/2019	5.55
26 Feb 2019	Final	GBX	11.35	31/12/2017	31/12/2018	21/03/2019	22/03/2019	03/05/2019	16.65
07 Aug 2018	Interim	GBX	5.30	31/12/2017	31/12/2018	06/09/2018	07/09/2018	28/09/2018	-
27 Feb 2018	Final	GBX	10.80	31/12/2016	31/12/2017	22/03/2018	23/03/2018	04/05/2018	15.85
01 Aug 2017	Interim	GBX	5.05	31/12/2016	31/12/2017	07/09/2017	08/09/2017	29/09/2017	-
28 Feb 2017	Final	GBX	10.30	31/12/2015	31/12/2016	23/03/2017	24/03/2017	05/05/2017	15.10
02 Aug 2016	Interim	GBX	4.80	31/12/2015	31/12/2016	08/09/2016	09/09/2016	30/09/2016	-
23 Feb 2016	Final	GBX	9.80	31/12/2014	31/12/2015	24/03/2016	29/03/2016	06/05/2016	14.40
04 Aug 2015	Interim	GBX	4.60	31/12/2014	31/12/2015	03/09/2015	04/09/2015	02/10/2015	-
24 Feb 2015	Final	GBX	9.50	31/12/2013	31/12/2014	19/03/2015	20/03/2015	08/05/2015	13.75
05 Aug 2014	Interim	GBX	4.25	31/12/2013	31/12/2014	13/08/2014	15/08/2014	03/10/2014	-
04 Mar 2014	Final	GBX	8.80	31/12/2012	31/12/2013	12/03/2014	14/03/2014	09/05/2014	12.75
06 Aug 2013	Interim	GBX	3.95	31/12/2012	31/12/2013	14/08/2013	16/08/2013	04/10/2013	-
05 Mar 2013	Final	GBX	8.20	31/12/2011	31/12/2012	13/03/2013	15/03/2013	10/05/2013	11.80
07 Aug 2012	Interim	GBX	3.60	31/12/2011	31/12/2012	15/08/2012	17/08/2012	05/10/2012	-
06 Mar 2012	Final	GBX	7.30	31/12/2010	31/12/2011	14/03/2012	16/03/2012	11/05/2012	10.50
02 Aug 2011	Interim	GBX	3.20	31/12/2010	31/12/2011	10/08/2011	12/08/2011	30/09/2011	-
01 Mar 2011	Final	GBX	6.35	31/12/2009	31/12/2010	09/03/2011	11/03/2011	06/05/2011	9.20
03 Aug 2010	Interim	GBX	2.85	31/12/2009	31/12/2010	11/08/2010	13/08/2010	01/10/2010	-
02 Mar 2010	Final	GBX	5.75	31/12/2008	31/12/2009	10/03/2010	12/03/2010	07/05/2010	8.45
04 Aug 2009	Interim	GBX	2.70	30/12/2008	30/06/2009	12/08/2009	14/08/2008	02/10/2009	-
03 Mar 2009	Final	GBX	5.75	31/12/2007	31/12/2008	11/03/2009	13/03/2009	08/05/2009	8.45
04 Aug 2008	Interim	GBX	2.70	30/12/2007	30/06/2008	13/08/2008	15/08/2008	03/10/2008	-
04 Mar 2008	Final	GBX	5.75	31/12/2006	31/12/2007	12/03/2008	14/03/2008	04/07/2008	8.20
07 Aug 2007	Interim	GBX	2.45	30/12/2006	30/06/2007	19/09/2007	21/09/2007	09/11/2007	-
02 Mar 2007	Final	GBX	6.00	31/12/2005	31/12/2006	14/03/2007	16/03/2007	06/07/2007	8.60
05 Sep 2006	Interim	GBX	2.60	30/12/2005	30/06/2006	11/10/2006	13/10/2006	01/12/2006	-
07 Mar 2006	Final	GBX	5.30	31/12/2004	31/12/2005	29/03/2006	31/03/2006	07/07/2006	7.70
06 Sep 2005	Interim	GBX	2.40	30/12/2004	30/06/2005	12/10/2005	14/10/2005	02/12/2005	-
02 Mar 2005	Final	GBX	4.80	31/12/2003	31/12/2004	30/03/2005	01/04/2005	01/07/2005	7.00
07 Sep 2004	Interim	GBX	2.20	30/12/2003	30/06/2004	13/10/2004	15/10/2004	03/12/2004	-
02 Mar 2004	Final	GBX	5.10	31/12/2002	31/12/2003	31/03/2004	02/04/2004	02/07/2004	7.50
02 Sep 2003	Interim	GBX	2.40	30/12/2002	30/06/2003	08/10/2003	10/10/2003	05/12/2003	-
06 Mar 2003	Final	GBX	4.75	31/12/2001	31/12/2002	09/04/2003	11/04/2003	04/07/2003	7.00
10 Sep 2002	Interim	GBX	2.25	30/12/2001	30/06/2002	09/10/2002	11/10/2002	06/12/2002	-
05 Mar 2002	Final	GBX	4.60	31/12/2000	31/12/2001	10/04/2002	12/04/2002	05/07/2002	6.80
06 Sep 2001	Interim	GBX	2.20	30/12/2000	30/06/2001	10/10/2001	12/10/2001	07/12/2001	-
06 Mar 2001	Final	GBX	4.40	31/12/1999	31/12/2000	11/04/2001	17/04/2001	06/07/2001	6.40
05 Sep 2000	Interim	GBX	2.00	30/12/1999	30/06/2000	09/10/2000	13/10/2000	01/12/2000	-
09 Mar 2000	Final	GBX	3.88	31/12/1998	31/12/1999	10/04/2000	14/04/2000	07/07/2000	5.66
09 Sep 1999	Interim	GBX	1.78	30/12/1998	30/06/1999	11/10/1999	15/10/1999	03/12/1999	-
11 Mar 1999	Final	GBX	3.53	31/12/1997	31/12/1998	06/04/1999	12/04/1999	02/07/1999	5.15
03 Sep 1998	Interim	GBX	1.62	30/12/1997	30/06/1998	12/10/1998	16/10/1998	04/12/1998	-
24 Mar 1998	Final	GBX	3.20	31/12/1996	31/12/1997	06/04/1998	14/04/1998	03/07/1998	4.70

Meggitt Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	1,992.40	100.00%	2,027.30	100.00%	2,080.60	100.00%	2,276.20	100.00%	m
pre tax profit	195.50	9.81%	262.40	12.94%	216.10	10.39%	286.70	12.60%	m
attributable profit	171.20	8.59%	350.00	17.26%	179.00	8.60%	222.60	9.78%	m
retained profit	58.20	2.92%	231.40	11.41%	54.80	2.63%	92.20	4.05%	m
eps - basic (p)	22.10		45.20		23.20		28.80
eps - diluted (p)	21.80		44.30		22.80		28.30
dividends per share	15.10		15.85		16.65		5.55

Meggitt 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	336.90	6.34%	322.90	6.69%	404.00	8.32%	449.40	9.47%	m
intangibles	3,780.30	71.15%	3,433.50	71.14%	3,330.00	68.56%	3,185.60	67.15%	m
fixed investments	40.80	0.77%	45.70	0.95%	32.20	0.66%	32.50	0.69%	m
current assets - other	-	-%	9.70	0.20%	10.30	0.21%	-	-%	m
stocks	468.50	8.82%	404.10	8.37%	441.20	9.08%	489.80	10.32%	m
debtors	513.20	9.66%	492.10	10.20%	457.80	9.42%	431.30	9.09%	m
cash & securities	173.80	3.27%	118.50	2.46%	181.90	3.74%	155.30	3.27%	m

TOTAL	5,313.50	100%	4,826.50	100%	4,857.40	100%	4,743.90	100%	m

LIABILITIES
creditors - short	760.20	14.31%	645.90	13.38%	618.00	12.72%	885.10	18.66%	m
creditors - long	2,096.90	39.46%	1,624.20	33.65%	1,747.00	35.97%	1,402.00	29.55%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2,857.10	53.77%	2,270.10	47.03%	2,365.00	48.69%	2,287.10	48.21%	m

EQUITY
ord cap, reserves	2,456.40	46.23%	2,556.40	52.97%	2,492.40	51.31%	2,456.80	51.79%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2,456.40	46.23%	2,556.40	52.97%	2,492.40	51.31%	2,456.80	51.79%	m

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

Meggitt Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	321.80	377.20	295.30	366.90	m
Pre-Financing CF	190.90	246.40	199.30	317.20	m
Retained CF	5.20	-50.50	56.90	-23.10	m

Meggitt Brokers

Name	Activity	Type	Mnemonic	Code
THE ROYAL BANK OF SCOT N.V.	Market Maker(MME)	Broker/Dealer	RBSM	ABNAGB22
Arden Partners Plc	Market Maker(MME)	Broker/Dealer	ARDA	ARRRGB2100A
CREDIT SUISSE SEC (EUROPE) LTD	Market Maker(MME)	Broker/Dealer	CSFB	CSFBGB2L
Deutsche Bank AG London Branch	Market Maker(MME)	Broker/Dealer	DEUT	DEUTGB2L
Commerzbank AG	Market Maker(MME)	Broker/Dealer	KLWT	DRESGB2LPST
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Goldman Sachs International	Market Maker(MME)	Broker/Dealer	GSCO	GSILGB2X
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Morgan Stanley Securities Ltd	Market Maker(MME)	Broker/Dealer	MOST	MSSEGB21
Panmure Gordon (UK) Limited	Market Maker(MME)	Broker/Dealer	PMUR	PMURGB2L
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
Citigrp Global Mkt UK Equities	Market Maker(MME)	Broker/Dealer	CITI	SBUKGB21
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