Financials DCC plc Irish S.E.

Equities

DCC

IE0002424939

Consumer Goods Conglomerates

End-of-day quote Irish S.E. Other stock markets			5-day change	1st Jan Change
- ^EUR	-.--%		-.--%	-.--%

06-10	JPMorgan cuts Aviva but lifts M&G	AN
06-06	JPMorgan Restarts DCC Coverage at Overweight	MT

Valuation

Fiscal Period: Marzo	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	5,018	6,200	5,846	4,659	5,694	5,473	-	-
Enterprise Value (EV) ¹	5,386	6,350	6,602	5,426	6,841	6,524	6,232	5,975
P/E ratio	20.5 x	21.2 x	18.7 x	14 x	17.5 x	14.1 x	13 x	11.7 x
Yield	2.85%	2.54%	2.97%	3.97%	3.41%	3.78%	3.98%	4.17%
Capitalization / Revenue	0.34 x	0.46 x	0.33 x	0.21 x	0.29 x	0.27 x	0.26 x	0.26 x
EV / Revenue	0.36 x	0.47 x	0.37 x	0.24 x	0.34 x	0.32 x	0.3 x	0.28 x
EV / EBITDA	8.79 x	9.6 x	9.08 x	6.2 x	7.41 x	6.68 x	6.19 x	5.66 x
EV / FCF	15.5 x	11.2 x	25.6 x	12.7 x	13.9 x	14.1 x	12.4 x	11.2 x
FCF Yield	6.46%	8.9%	3.9%	7.88%	7.19%	7.11%	8.08%	8.92%
Price to Book	2.02 x	2.34 x	2.01 x	1.56 x	1.84 x	1.65 x	1.54 x	1.43 x
Nbr of stocks (in thousands)	98,401	98,565	98,646	98,747	98,852	98,875	-	-
Reference price ²	51.00	62.90	59.26	47.18	57.60	55.35	55.35	55.35
Announcement Date	5/19/20	5/18/21	5/17/22	5/16/23	5/14/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Marzo	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	14,755	13,412	17,732	22,205	19,859	20,422	20,893	21,006
EBITDA ¹	612.8	661.4	727.2	875.3	923	976.3	1,007	1,055
EBIT ¹	494.3	530.2	589.2	655.7	682.8	736.8	761.7	806.3
Operating Margin	3.35%	3.95%	3.32%	2.95%	3.44%	3.61%	3.65%	3.84%
Earnings before Tax (EBT) ¹	311.5	365.1	405.7	431.6	423.8	504.3	542.3	577.1
Net income ¹	245.5	292.6	312.4	334	326.3	391.2	422	443.7
Net margin	1.66%	2.18%	1.76%	1.5%	1.64%	1.92%	2.02%	2.11%
EPS ²	2.492	2.966	3.164	3.380	3.298	3.921	4.263	4.714
Free Cash Flow ¹	348.1	564.9	257.4	427.5	491.7	464.1	503.3	533
FCF margin	2.36%	4.21%	1.45%	1.93%	2.48%	2.27%	2.41%	2.54%
FCF Conversion (EBITDA)	56.8%	85.4%	35.4%	48.83%	53.27%	47.54%	49.95%	50.52%
FCF Conversion (Net income)	141.78%	193.05%	82.41%	127.98%	150.7%	118.65%	119.25%	120.11%
Dividend per Share ²	1.453	1.598	1.758	1.872	1.966	2.090	2.206	2.311
Announcement Date	5/19/20	5/18/21	5/17/22	5/16/23	5/14/24	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S2	2021 S1	2021 S2	2022 S1	2023 S1	2024 S1
Net sales ¹	7,444	5,931	7,481	7,518	10,837	9,616
EBITDA	-	-	-	-	-	-
EBIT	-	176.1	354.1	195.8	221.2	-
Operating Margin	-	2.97%	4.73%	2.6%	2.04%	-
Earnings before Tax (EBT) ¹	-	102.1	-	115	132.3	129.7
Net income ¹	-	78.61	-	84.51	97.53	93
Net margin	-	1.33%	-	1.12%	0.9%	0.97%
EPS	-	0.7970	-	0.8566	-	-
Dividend per Share ²	-	0.5195	-	0.5585	0.6004	0.6304
Announcement Date	5/19/20	11/10/20	5/18/21	11/9/21	11/8/22	11/14/23

¹GBP in Million²GBP

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	367	150	757	767	1,147	1,051	759	502
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.5991 x	0.227 x	1.04 x	0.8766 x	1.243 x	1.077 x	0.7535 x	0.4762 x
Free Cash Flow ¹	348	565	257	427	492	464	503	533
ROE (net income / shareholders' equity)	12.7%	12.8%	12.8%	12.3%	14.8%	13.9%	13.8%	14.5%
ROA (Net income/ Total Assets)	4.11%	4.11%	4.05%	3.74%	3.38%	4.58%	4.82%	5.08%
Assets ¹	5,968	7,126	7,714	8,933	9,662	8,550	8,747	8,735
Book Value Per Share ²	25.30	26.90	29.50	30.20	31.30	33.50	35.90	38.60
Cash Flow per Share ²	5.370	7.380	4.580	6.650	7.300	6.760	7.120	7.500
Capex ¹	181	163	194	229	230	247	245	251
Capex / Sales	1.23%	1.21%	1.1%	1.03%	1.16%	1.21%	1.17%	1.19%
Announcement Date	5/19/20	5/18/21	5/17/22	5/16/23	5/14/24	-	-	-

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 DCC plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

55.35 GBP

Average target price

71.24 GBP

Spread / Average Target

+28.70%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Consumer Goods Conglomerates

	1st Jan change	Capi.
BERKSHIRE HATHAWAY INC.	+13.51%	888B
INTERNATIONAL HOLDING COMPANY	+1.75%	244B
GE AEROSPACE	+25.42%	175B
HONEYWELL INTERNATIONAL INC.	+1.32%	140B
HITACHI, LTD.	+766.27%	102B
ILLINOIS TOOL WORKS INC.	-9.69%	71B
3M COMPANY	-7.30%	56.47B
MITSUBISHI HEAVY INDUSTRIES, LTD.	+102.65%	34.71B
MITSUBISHI ELECTRIC CORPORATION	+26.29%	33.2B

Consumer Goods Conglomerates