SPIRAX-SARCO ENGINEERING ORD GBP0.269230769
Symbol: SPX
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Company
Business Summary
Spirax-Sarco Engineering plc is a United Kingdom-based thermal energy management and fluid technology solutions. The Company has three segments: Steam Specialties, Electric Thermal Solutions and Watson-Marlow. The Steam Specialties segment includes industrial and commercial steam systems, including condensate management, control and thermal energy management products and solutions. Electric Thermal Solutions segment includes electrical process heating and temperature management solutions, including industrial heaters and systems, heat tracing and a range of component technologies. Watson-Marlow segment includes peristaltic and niche pumps and associated fluid path technologies, including pumps, tubing, specialty filling systems and products for single-use applications. The Company serves various industries, such as pharmaceutical and biotechnology, food and beverage, oil and gas, chemicals, power generation, healthcare, water and wastewater, buildings, semiconductors, and transport.
Financial Summary
BRIEF: For the fiscal year ended 31 December 2023, Spirax-Sarco Engineering plc revenues increased 4% to £1.68B. Net income decreased 18% to £183.6M. Revenues reflect Electric thermal solutions segment increase of 48% to £378.5M, Steam Specialties business segment increase of 5% to £910.1M, United States segment increase of 40% to £606.5M. Net income was offset by Watson-Marlow segment income decrease of 47% to £81.2M.
Financials
Income Statement - All values are in GBP (M).
Year Ending |
31/12/2023 |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
---|---|---|---|---|---|---|
Total Revenue | 1,682.60 | 1,610.60 | 1,344.50 | 1,193.40 | 1,242.40 | 1,153.30 |
Gross profit | 1,281.40 | 1,229.40 | 1,039.80 | 904.70 | 944.90 | 761.40 |
Operating Profit/Loss | 284.40 | 318.80 | 320.90 | 249.00 | 245.00 | 299.10 |
Profit Before Tax | 244.50 | 308.10 | 314.50 | 240.10 | 236.80 | 288.80 |
Profit After Tax | 184.00 | 225.00 | 234.90 | 173.90 | 167.00 | 223.40 |
Equity Holders of Parent Company | 183.60 | 224.70 | 234.60 | 173.60 | 166.60 | 223.10 |
Minority Interest | 0.40 | 0.50 | 0.70 | 0.70 | 0.60 | 0.80 |
Balance Sheet - All values are in GBP (M).
Year Ending |
31/12/2023 |
31/12/2022 |
31/12/2021 |
31/12/2020 |
31/12/2019 |
31/12/2018 |
---|---|---|---|---|---|---|
Total Non-Current Assets | 1,683.60 | 1,731.40 | 1,059.50 | 1,052.60 | 1,055.50 | 923.50 |
Total Current Assets | 1,024.80 | 1,053.50 | 803.70 | 692.50 | 638.80 | 630.30 |
Total Assets | 2,708.40 | 2,784.90 | 1,863.20 | 1,745.10 | 1,694.30 | 1,553.80 |
Total Liabilities | 1,550.70 | 1,615.10 | 853.20 | 889.10 | 868.00 | 786.90 |
Total Net Assets | 1,157.70 | 1,169.80 | 1,010.00 | 856.00 | 826.30 | 766.90 |
Shareholders Funds | 1,156.90 | 1,169.00 | 1,009.00 | 855.00 | 825.30 | 765.80 |
Minority Interests | 0.40 | 0.50 | 0.70 | 0.70 | 0.60 | 0.80 |
Total Equity | 1,157.70 | 1,169.80 | 1,010.00 | 856.00 | 826.30 | 766.90 |
Outlook
Broker View
Data shown is based on the past 75 days of broker views.
ActionBrokers |
Strong Buy1 |
Buy2 |
Neutral8 |
Sell5 |
Strong Sell0 |
---|---|---|---|---|---|
Brokers | 1 | 2 | 8 | 5 | 0 |
Consensus |
ConsensusNeutral |
Not advice based on your circumstances. Does not constitute a recommendation to buy or sell this or any other security. Selected data supplied by Digital Look® Read more.
Forecasts
Year | 2024 | 2025 | 2026 |
---|---|---|---|
Revenue | £1,741.76mn | £1,855.95mn | £1,968.09mn |
Pre-tax-Profit | £353.19mn | £397.57mn | £441.24mn |
EPS | £3.22p | £3.71p | £4.14p |
EPS Growth | 3.13% | 15.22% | 11.50% |
P/E | 27.53 | 23.98 | 21.54 |
PEG Ratio | 8.81 | 1.58 | 1.87 |
Dividend | 164.94p | 180.74p | 198.06p |
Yield | 0.00% | 0.00% | 0.00% |
Upgrades & Downgrades (Latest)
Date | Broker | Recommendation | Price | Old Target | New Target | Change |
---|---|---|---|---|---|---|
11th Apr 2024 | Bank of America | Reiteration | 9740p | 0p | 0p | Buy |
9th Apr 2024 | Barclays | Reiteration | 9665p | 10580p | 9960p | Equal-weight |
8th Mar 2024 | Berenberg Bank | Reiteration | 10580p | 8800p | 9800p | Hold |
7th Mar 2024 | Numis | Reiteration | 10660p | 0p | 0p | Sell |
31st Jan 2024 | Jefferies | Upgrade | 10005p | 0p | 9740p | Hold |
22nd Jan 2024 | Berenberg Bank | Restart Coverage | 9724p | 0p | 8800p | Hold |
18th Dec 2023 | Shore Capital | Reiteration | 10110p | 0p | 0p | Sell |
16th Nov 2023 | Shore Capital | Reiteration | 8798p | 0p | 0p | Sell |
19th Oct 2023 | Shore Capital | DownGrade | 8384p | 0p | 0p | Sell |
10th Oct 2023 | JP Morgan Cazenove | Reiteration | 8888p | 11500p | 11100p | Overweight |
Time & Sales
All prices are in GBX and times are in GMT. Last 20 trades shown. Trade type is estimated and should be treated as indicative only.
Date | Time | Price | Volume | Type |
---|---|---|---|---|
29 Apr 2024 | 16:29 | 8,955 | 50 | Buy |
29 Apr 2024 | 16:29 | 8,955 | 26 | Buy |
29 Apr 2024 | 16:29 | 8,955 | 43 | Buy |
29 Apr 2024 | 16:29 | 8,955 | 35 | Buy |
29 Apr 2024 | 16:29 | 8,955 | 38 | Buy |
29 Apr 2024 | 16:29 | 8,955 | 72 | Buy |
29 Apr 2024 | 16:29 | 8,950 | 31 | Sell |
29 Apr 2024 | 16:29 | 8,950 | 22 | Sell |
29 Apr 2024 | 16:29 | 8,950 | 33 | Sell |
29 Apr 2024 | 16:29 | 8,950 | 7 | Sell |
29 Apr 2024 | 16:29 | 8,950 | 60 | Sell |
29 Apr 2024 | 16:29 | 8,955 | 31 | Buy |
29 Apr 2024 | 16:28 | 8,955 | 3 | Buy |
29 Apr 2024 | 16:28 | 8,955 | 7 | Sell |
29 Apr 2024 | 16:28 | 8,955 | 41 | Sell |
29 Apr 2024 | 16:28 | 8,955 | 6 | Sell |
29 Apr 2024 | 16:28 | 8,955 | 15 | Sell |
29 Apr 2024 | 16:28 | 8,955 | 39 | Buy |
29 Apr 2024 | 16:28 | 8,955 | 23 | Buy |
29 Apr 2024 | 16:28 | 8,955 | 47 | Buy |
Selected data supplied by Thomson Reuters © View restrictions.