Financials Persimmon Plc

Equities

Market Closed - London S.E. Other stock markets 11:35:11 2024-04-26 am EDT			5-day change	1st Jan Change
1,318 ^GBX	+2.77%		+2.49%	-5.11%

Apr. 25	Persimmon quarterly home completions fall but expects full-year growth	AN
Apr. 25	Persimmon's Q1 Home Completions Decline; Outlook Affirmed	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	8,526	8,819	9,111	3,885	4,436	4,211	-	-
Enterprise Value (EV) ¹	7,682	7,585	7,864	3,023	4,015	4,029	4,081	4,075
P/E ratio	10.1 x	13.9 x	11.6 x	6.98 x	17.5 x	16.5 x	13 x	10.9 x
Yield	8.72%	3.98%	8.23%	4.93%	-	4.7%	5.08%	5.51%
Capitalization / Revenue	2.34 x	2.65 x	2.52 x	1.02 x	1.6 x	1.5 x	1.35 x	1.25 x
EV / Revenue	2.1 x	2.28 x	2.18 x	0.79 x	1.45 x	1.43 x	1.31 x	1.2 x
EV / EBITDA	7.32 x	8.65 x	8.01 x	2.96 x	10.8 x	10.2 x	7.99 x	6.76 x
EV / FCF	13 x	10.2 x	10.3 x	8.13 x	-24.2 x	455 x	32.9 x	16.2 x
FCF Yield	7.71%	9.84%	9.71%	12.3%	-4.14%	0.22%	3.04%	6.16%
Price to Book	2.63 x	2.51 x	2.51 x	1.13 x	-	1.22 x	1.18 x	1.12 x
Nbr of stocks (in thousands)	316,346	318,728	318,996	319,218	319,333	319,506	-	-
Reference price ²	26.95	27.67	28.56	12.17	13.89	13.18	13.18	13.18
Announcement Date	2/27/20	3/3/21	3/2/22	3/1/23	3/12/24	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,649	3,328	3,610	3,816	2,773	2,813	3,121	3,382
EBITDA ¹	1,050	876.9	981.2	1,022	373.2	395.7	510.6	602.4
EBIT ¹	1,037	862.8	966.7	1,006	354.5	383.1	495.1	588
Operating Margin	28.41%	25.92%	26.77%	26.38%	12.78%	13.62%	15.86%	17.39%
Earnings before Tax (EBT) ¹	1,041	783.8	966.8	730.7	351.8	360.1	454.1	541.1
Net income ¹	848.8	638.4	787.2	561	255.4	253.2	316.8	401.4
Net margin	23.26%	19.18%	21.8%	14.7%	9.21%	9%	10.15%	11.87%
EPS ²	2.663	1.996	2.456	1.743	0.7950	0.7986	1.014	1.214
Free Cash Flow ¹	592.5	746.6	763.9	371.8	-166.2	8.85	123.9	251.1
FCF margin	16.24%	22.43%	21.16%	9.74%	-5.99%	0.31%	3.97%	7.42%
FCF Conversion (EBITDA)	56.43%	85.14%	77.85%	36.37%	-	2.24%	24.26%	41.67%
FCF Conversion (Net income)	69.8%	116.95%	97.04%	66.27%	-	3.5%	39.11%	62.54%
Dividend per Share ²	2.350	1.100	2.350	0.6000	-	0.6199	0.6696	0.7256
Announcement Date	2/27/20	3/3/21	3/2/22	3/1/23	3/12/24	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	844	1,234	1,247	862	420	182	130	136
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	593	747	764	372	-166	8.85	124	251
ROE (net income / shareholders' equity)	26.3%	18.8%	22.1%	22%	7.45%	7.59%	9.52%	11.1%
ROA (Net income/ Total Assets)	18.6%	14%	16.9%	11.4%	5.2%	7.02%	8.48%	9.67%
Assets ¹	4,571	4,556	4,671	4,913	4,911	3,606	3,733	4,149
Book Value Per Share ²	10.20	11.00	11.40	10.80	-	10.80	11.20	11.70
Cash Flow per Share ²	1.940	2.390	2.450	1.250	-0.4000	-0.3800	1.220	1.240
Capex ¹	27.5	18.9	20.9	30.5	36.4	26.2	24.9	25.6
Capex / Sales	0.75%	0.57%	0.58%	0.8%	1.31%	0.93%	0.8%	0.76%
Announcement Date	2/27/20	3/3/21	3/2/22	3/1/23	3/12/24	-	-	-

¹GBP in Million²GBP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C+

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

13.18 GBP

Average target price

14.96 GBP

Spread / Average Target

+13.51%

	1st Jan change	Capi.
PERSIMMON PLC	-5.11%	5.25B
DR HORTON	-4.38%	47.86B
PULTEGROUP, INC.	+10.25%	23.94B
DAIWA HOUSE INDUSTRY CO., LTD.	+1.83%	17.68B
SEKISUI HOUSE, LTD.	+13.06%	14.58B
TOLL BROTHERS, INC.	+16.96%	12.52B
SUMITOMO FORESTRY CO., LTD.	+12.71%	6.16B
THE BERKELEY GROUP HOLDINGS PLC	+0.30%	6.2B
SEKISUI CHEMICAL CO., LTD.	+9.62%	5.96B
TAYLOR MORRISON HOME CORPORATION	+7.89%	6.11B