Financials Topps Tiles Plc

Equities

TPT

GB00B18P5K83

Home Improvement Products & Services Retailers

Market Closed - London S.E. Other stock markets 11:35:18 2024-04-26 am EDT			5-day change	1st Jan Change
45 ^GBX	+7.66%		+11.11%	-10.00%

Apr. 05	Stocks drop on Israel-Iran tensions and Fed talk	AN
Apr. 05	Topps Tiles falls again; Gulf Marine rises	AN

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	132.5	92.8	134	75.42	95.1	88.5	-	-
Enterprise Value (EV) ¹	143.8	66.8	217.6	162.1	166.2	162.1	159.4	155.5
P/E ratio	13.1 x	-	-	-	30.1 x	26.1 x	11 x	8.41 x
Yield	5%	-	4.52%	9.35%	7.44%	6.07%	6.99%	8.72%
Capitalization / Revenue	0.6 x	0.48 x	0.59 x	0.31 x	0.36 x	0.35 x	0.33 x	0.32 x
EV / Revenue	0.66 x	0.35 x	0.95 x	0.66 x	0.63 x	0.64 x	0.6 x	0.56 x
EV / EBITDA	5.95 x	2.02 x	4.7 x	3.74 x	4.08 x	4.48 x	4.05 x	3.7 x
EV / FCF	10.2 x	1.6 x	121 x	203 x	11.3 x	15.2 x	25 x	16.1 x
FCF Yield	9.8%	62.6%	0.83%	0.49%	8.84%	6.59%	4%	6.2%
Price to Book	4.38 x	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	194,922	194,965	195,403	195,885	196,477	196,677	-	-
Reference price ²	0.6800	0.4760	0.6860	0.3850	0.4840	0.4500	0.4500	0.4500
Announcement Date	11/26/19	12/1/20	11/30/21	11/29/22	11/28/23	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	219.2	192.8	228	247.2	262.7	252.7	265	279
EBITDA ¹	24.2	33.07	46.31	43.35	40.75	36.18	39.31	42.01
EBIT ¹	16.83	4.371	19.34	19.53	16.8	10.24	13.76	16.54
Operating Margin	7.68%	2.27%	8.48%	7.9%	6.4%	4.05%	5.19%	5.93%
Earnings before Tax (EBT) ¹	12.5	-	-	-	6.815	5.55	11.03	14.3
Net income ¹	10.1	-	-	-	3.206	3.567	8.1	10.65
Net margin	4.61%	-	-	-	1.22%	1.41%	3.06%	3.82%
EPS ²	0.0518	-	-	-	0.0161	0.0172	0.0409	0.0535
Free Cash Flow ¹	14.1	41.8	1.8	0.8	14.7	10.68	6.373	9.631
FCF margin	6.43%	21.68%	0.79%	0.32%	5.6%	4.23%	2.41%	3.45%
FCF Conversion (EBITDA)	58.28%	126.39%	3.89%	1.85%	36.07%	29.52%	16.21%	22.93%
FCF Conversion (Net income)	139.6%	-	-	-	458.52%	299.46%	78.68%	90.43%
Dividend per Share ²	0.0340	-	0.0310	0.0360	0.0360	0.0273	0.0315	0.0392
Announcement Date	11/26/19	12/1/20	11/30/21	11/29/22	11/28/23	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	2022 S1	2024 S1	2024 S2
Net sales ¹	-	122.6	130
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income	4.176	-	-
Net margin	-	-	-
EPS	0.0210	-	-
Dividend per Share	-	-	-
Announcement Date	5/24/22	-	-

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	11.3	-	83.5	86.7	71.1	73.6	70.9	67
Net Cash position ¹	-	26	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.467 x	-	1.804 x	2 x	1.745 x	2.035 x	1.803 x	1.594 x
Free Cash Flow ¹	14.1	41.8	1.8	0.8	14.7	10.7	6.37	9.63
ROE (net income / shareholders' equity)	45.6%	-	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share	0.1600	-	-	-	-	-	-	-
Cash Flow per Share ²	0.1100	0.1500	0.1400	-	-	0.0800	0.0500	0.0600
Capex ¹	7.8	-	-	-	4.2	6.3	6.37	6.5
Capex / Sales	3.56%	-	-	-	1.6%	2.49%	2.4%	2.33%
Announcement Date	11/26/19	12/1/20	11/30/21	11/29/22	11/28/23	-	-	-

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 Topps Tiles Plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

0.45 GBP

Average target price

0.616 GBP

Spread / Average Target

+36.89%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Builder Merchants

	1st Jan change	Capi.
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TRAVIS PERKINS PLC	-7.55%	2.01B
PT CATURKARDA DEPO BANGUNAN TBK	0.00%	159M
LIM SEONG HAI CAPITAL	-.--%	130M
3U HOLDING AG	+0.98%	74.19M

Builder Merchants