Stock ASHM ASHMORE GROUP PLC
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Financials Ashmore Group Plc

Equities

ASHM

GB00B132NW22

Investment Management & Fund Operators

Market Closed - London S.E.
Other stock markets
 11:35:11 2024-04-26 am EDT 		5-day change 1st Jan Change
186.1 GBX +1.75% Intraday chart for Ashmore Group Plc +0.70% -16.47%
Apr. 18 Ashmore Group plc Announces Stepping Down of Helen Beck as Non-Executive Director and Chair of the Remuneration Committee, Effective from 31 May 2024 CI
Apr. 17 Bank of America Downgrades Ashmore Group to Underperform from Neutral, Lowers PT MT

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,425 2,791 2,542 1,464 1,372 1,235 - -
Enterprise Value (EV) 1 2,948 2,290 2,086 911.9 893.8 782.3 805.6 825.8
P/E ratio 20.3 x 16.2 x 11.2 x 17.6 x 17.1 x 12.8 x 15.7 x 14.5 x
Yield 3.27% 4.05% 4.39% 7.62% 8.13% 9.08% 9.08% 9.13%
Capitalization / Revenue 10.9 x 8.45 x 8.72 x 5.58 x 6.99 x 6.77 x 7.01 x 6.44 x
EV / Revenue 9.38 x 6.93 x 7.15 x 3.47 x 4.55 x 4.29 x 4.58 x 4.31 x
EV / EBITDA 14.6 x 10.3 x 10.7 x 5.55 x 8.42 x 9.42 x 10 x 8.82 x
EV / FCF 15.7 x 11.3 x 14 x 5.81 x 8.59 x 11.8 x 8.72 x 8.27 x
FCF Yield 6.39% 8.81% 7.12% 17.2% 11.6% 8.45% 11.5% 12.1%
Price to Book 4.27 x 3.2 x 2.79 x 1.54 x 1.53 x 1.46 x 1.53 x 1.57 x
Nbr of stocks (in thousands) 672,239 669,034 660,311 659,991 659,804 663,586 - -
Reference price 2 5.095 4.172 3.850 2.218 2.080 1.861 1.861 1.861
Announcement Date 9/6/19 9/11/20 9/3/21 9/2/22 9/6/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 314.3 330.5 291.7 262.5 196.4 182.4 176.1 191.7
EBITDA 1 201.8 222.5 195.7 164.3 106.2 83.05 80.17 93.62
EBIT 1 197 219.1 192.9 161.2 103 80.46 76.01 88.36
Operating Margin 62.68% 66.29% 66.13% 61.41% 52.44% 44.12% 43.17% 46.1%
Earnings before Tax (EBT) 1 219.9 221.5 282.5 118.4 111.8 127.3 106.2 113.2
Net income 1 178.6 182.1 240.1 88.5 83.3 96.28 82.71 91.23
Net margin 56.82% 55.1% 82.31% 33.71% 42.41% 52.79% 46.98% 47.6%
EPS 2 0.2504 0.2568 0.3423 0.1261 0.1215 0.1453 0.1186 0.1280
Free Cash Flow 1 188.3 201.8 148.5 156.9 104.1 66.1 92.4 99.9
FCF margin 59.91% 61.06% 50.91% 59.77% 53% 36.24% 52.48% 52.12%
FCF Conversion (EBITDA) 93.31% 90.7% 75.88% 95.5% 98.02% 79.59% 115.25% 106.71%
FCF Conversion (Net income) 105.43% 110.82% 61.85% 177.29% 124.97% 68.65% 111.71% 109.5%
Dividend per Share 2 0.1665 0.1690 0.1690 0.1690 0.1690 0.1690 0.1690 0.1700
Announcement Date 9/6/19 9/11/20 9/3/21 9/2/22 9/6/23 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1
Net sales 1 176.8 153.7 150.7 141 138.5 124 110.3 86.1 94.5
EBITDA 1 122.5 100 107.2 88.5 92 - 63.2 - 42.6
EBIT 1 120.8 98.3 105.6 87.3 90.4 70.8 61.5 - 34.2
Operating Margin 68.33% 63.96% 70.07% 61.91% 65.27% 57.1% 55.76% - 36.19%
Earnings before Tax (EBT) 1 132.4 89.1 - 131.9 - - - 58 74.5
Net income 112.9 69.2 - 112.4 - - - - -
Net margin 63.86% 45.02% - 79.72% - - - - -
EPS 2 0.1584 0.0984 - 0.1601 0.1331 - 0.0609 0.0606 0.0847
Dividend per Share 2 0.0480 0.1210 0.0480 0.1210 0.0480 0.1210 0.0480 0.1210 0.0980
Announcement Date 2/6/20 9/11/20 2/10/21 9/3/21 2/10/22 9/2/22 2/8/23 9/6/23 2/7/24
1GBP in Million2GBP
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 477 501 456 552 479 453 429 409
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 188 202 149 157 104 66.1 92.4 99.9
ROE (net income / shareholders' equity) 22.3% 21.4% 18.6% 14.1% 9.04% 10% 9.66% 10.9%
ROA (Net income/ Total Assets) 18.3% 17.4% 15.2% 11.9% 7.91% 8.34% 8.07% 9.62%
Assets 1 978.6 1,048 1,576 743.5 1,053 1,154 1,026 948.7
Book Value Per Share 2 1.190 1.300 1.380 1.440 1.360 1.270 1.220 1.180
Cash Flow per Share 2 0.2700 0.2900 0.2100 0.2200 0.1500 0.1200 0.1400 0.1400
Capex 1 0.8 1 0.7 0.5 0.4 0.35 0.3 0.3
Capex / Sales 0.25% 0.3% 0.24% 0.19% 0.2% 0.19% 0.17% 0.16%
Announcement Date 9/6/19 9/11/20 9/3/21 9/2/22 9/6/23 - - -
1GBP in Million2GBP
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ashmore Group Plc

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
1.861 GBP
Average target price
1.95 GBP
Spread / Average Target
+4.78%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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