Balance Sheet Volex plc

Equities

VLX

GB0009390070

Electrical Components & Equipment

Delayed London S.E. Other stock markets 03:12:02 2024-09-10 EDT			5-day change	1st Jan Change
339.40 ^GBX	-0.32%		-4.80%	+6.40%

08-01	EARNINGS AND TRADING: Robert Walters swings to loss as sales decline	AN
08-01	Volex plc Declares Final Dividend for the Financial Year Ended 31 March 2024	CI

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Published financial data: VOLEX PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	391M	443M	615M	723M	913M
Total Revenues	391M	443M	615M	723M	913M
Cost of Goods Sold, Total	301M	339M	489M	566M	710M
Gross Profit	90.66M	104M	126M	157M	203M
Selling General & Admin Expenses, Total	66.96M	66.94M	70.8M	91.5M	117M
Depreciation & Amortization - (IS)	754K	712K	700K	900K	1.3M
Amortization of Goodwill and Intangible Assets - (IS)	5.75M	5.3M	10.4M	10.2M	15.6M
Other Operating Expenses, Total	73.47M	72.95M	81.9M	103M	134M
Operating Income	17.19M	30.92M	43.9M	54.4M	69.3M
Interest Expense, Total	-1.5M	-2.35M	-5.3M	-9.2M	-16.1M
Interest And Investment Income	328K	310K	300K	400K	1.3M
Net Interest Expenses	-1.18M	-2.04M	-5M	-8.8M	-14.8M
Income (Loss) On Equity Invest.	-	827K	400K	1.1M	3.2M
EBT, Excl. Unusual Items	16.02M	29.72M	39.3M	46.7M	57.7M
Restructuring Charges	-	-	-800K	-	-
Merger & Related Restructuring Charges	-156K	-367K	-2.5M	-2.2M	-5.4M
Other Unusual Items	-	21K	200K	1.3M	-700K
EBT, Incl. Unusual Items	15.86M	29.37M	36.2M	45.8M	51.6M
Income Tax Expense	1.16M	-9.52M	5.8M	8.4M	11.4M
Earnings From Continuing Operations	14.7M	38.89M	30.4M	37.4M	40.2M
Net Income to Company	14.7M	38.89M	30.4M	37.4M	40.2M
Minority Interest	-	-	-	-600K	-900K
Net Income - (IS)	14.7M	38.89M	30.4M	36.8M	39.3M
Net Income to Common Incl Extra Items	14.7M	38.89M	30.4M	36.8M	39.3M
Net Income to Common Excl. Extra Items	14.7M	38.89M	30.4M	36.8M	39.3M
Per Share Items
Net EPS - Basic	0.1	0.26	0.19	0.23	0.22
Basic EPS - Continuing Operations	0.1	0.26	0.19	0.23	0.22
Basic Weighted Average Shares Outstanding	148M	152M	157M	159M	180M
Net EPS - Diluted	0.09	0.24	0.18	0.22	0.21
Diluted EPS - Continuing Operations	0.09	0.24	0.18	0.22	0.21
Diluted Weighted Average Shares Outstanding	155M	163M	168M	167M	183M
Normalized Basic EPS	0.07	0.12	0.16	0.18	0.2
Normalized Diluted EPS	0.06	0.11	0.15	0.17	0.19
Dividend Per Share	0.04	0.05	0.05	0.05	0.05
Payout Ratio	13.31	15.47	23.68	15.49	17.05
Supplemental Items
EBITDA	26.49M	40.74M	60.6M	71.5M	95M
EBITA	22.85M	36.13M	54.2M	63.3M	82.7M
EBIT	17.19M	30.92M	43.9M	54.4M	69.3M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	7.34	-32.41	16.02	18.34	22.09
Total Current Taxes	6.82M	3.64M	10M	14.4M	17.1M
Total Deferred Taxes	-5.66M	-13.16M	-4.2M	-6M	-5.7M
Normalized Net Income	10.01M	18.57M	24.56M	28.59M	35.16M
Interest on Long-Term Debt	792K	1.36M	2.3M	2.4M	3.4M
Non-Cash Pension Expense	47K	183K	100K	-	900K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	2.57M	3.16M	3.8M	5.2M	4.4M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	8.74M	6.63M	4.4M	3.7M	6.3M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	8.74M	6.63M	4.4M	3.7M	6.3M

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	32.3M	36.55M	29.1M	22.5M	29.8M
Total Cash And Short Term Investments	32.3M	36.55M	29.1M	22.5M	29.8M
Accounts Receivable, Total	56.38M	100M	119M	136M	188M
Other Receivables	10.14M	13.13M	18.6M	16.5M	20.7M
Total Receivables	66.52M	113M	138M	153M	208M
Inventory	58M	76.89M	119M	120M	174M
Prepaid Expenses	-	-	-	-	4.5M
Other Current Assets, Total	-	411K	400K	900K	1M
Total Current Assets	157M	227M	286M	297M	418M
Gross Property Plant And Equipment	73.51M	98.98M	116M	147M	207M
Accumulated Depreciation	-43.6M	-48.62M	-53M	-62.8M	-76.9M
Net Property Plant And Equipment	29.91M	50.36M	62.8M	84.6M	130M
Long-term Investments	-	866K	1.5M	2.6M	8.1M
Goodwill	25.76M	65.56M	82.9M	82.3M	121M
Other Intangibles, Total	15.54M	39.57M	44.3M	36.3M	124M
Deferred Tax Assets Long-Term	8.96M	21.97M	20.6M	24.6M	25.9M
Deferred Charges Long-Term	0	0	2.7M	5.5M	7.2M
Other Long-Term Assets, Total	4.49M	4.45M	2.1M	2.7M	3.9M
Total Assets	241M	410M	503M	535M	839M
Liabilities
Accounts Payable, Total	39.65M	72.14M	84.7M	84.4M	133M
Accrued Expenses, Total	982K	1.11M	1.1M	300K	-
Short-term Borrowings	225K	9.56M	5M	1.8M	1M
Current Portion of Long-Term Debt	-	-	-	-	2.3M
Current Portion of Leases	3.5M	4.57M	4.3M	15.6M	21.3M
Current Income Taxes Payable	8.38M	9.52M	10.1M	14.5M	18.3M
Other Current Liabilities	41.11M	58.23M	64.3M	66.1M	105M
Total Current Liabilities	93.85M	155M	170M	183M	281M
Long-Term Debt	-	34.24M	98.5M	89.6M	143M
Long-Term Leases	7.38M	15.45M	16.6M	19.2M	16.1M
Pension & Other Post Retirement Benefits	2.49M	4.1M	2M	2.3M	7.5M
Deferred Tax Liability Non Current	6.13M	7.84M	7M	6.9M	28.2M
Other Non Current Liabilities	1.09M	9.37M	1.2M	1.8M	27.9M
Total Liabilities	111M	226M	295M	302M	504M
Common Stock, Total	60.19M	61.97M	62.5M	62.7M	69.6M
Additional Paid In Capital	46.41M	60.86M	60.9M	60.7M	62M
Retained Earnings	32M	66.03M	85.2M	115M	211M
Treasury Stock	-1.02M	-3.26M	-200K	-1M	-4.3M
Comprehensive Income and Other	-7.05M	-1.68M	-7.3M	-12.1M	-11.4M
Total Common Equity	131M	184M	201M	225M	327M
Minority Interest	-	-	7.4M	7.4M	8.4M
Total Equity	131M	184M	208M	233M	336M
Total Liabilities And Equity	241M	410M	503M	535M	839M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	151M	156M	159M	159M	181M
ECS Total Common Shares Outstanding	151M	156M	159M	159M	181M
Book Value / Share	0.86	1.18	1.27	1.42	1.81
Tangible Book Value	89.24M	78.79M	73.9M	107M	81.3M
Tangible Book Value Per Share	0.59	0.5	0.47	0.67	0.45
Total Debt	11.11M	63.82M	124M	126M	184M
Net Debt	-21.2M	27.26M	95.3M	104M	154M
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.7M	3.18M	1.4M	300K	7.1M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	7.4M	7.4M	8.4M
Equity Method Investments, Total	-	866K	1.5M	2.6M	8.1M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	31.07M	35.01M	64.6M	71.1M	102M
Inventories - Work In Process, Total	2.48M	2.63M	5.1M	7.7M	17.7M
Inventories - Finished Goods, Total	24.44M	39.24M	49.6M	41.7M	54.5M
Land - (BS)	3.13M	3.42M	8.2M	8.3M	19.3M
Buildings, Total	9.84M	-	-	-	-
Machinery, Total	48.26M	57.28M	60.5M	69.6M	95M
Full Time Employees	6K	6.3K	7.8K	8K	14K
Accumulated Allowance for Doubtful Accounts (Supple)	1.44M	1.89M	2.4M	3M	6.1M

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	14.7M	38.89M	30.4M	36.8M	39.3M
Depreciation & Amortization - CF	6.36M	7.78M	9.8M	13M	19.7M
Amortization of Goodwill and Intangible Assets - (CF)	5.65M	5.2M	10.3M	8.9M	13.4M
Depreciation & Amortization, Total	12.01M	12.99M	20.1M	21.9M	33.1M
Amortization of Deferred Charges, Total - (CF)	336K	781K	1.4M	2M	2.9M
(Gain) Loss From Sale Of Asset	838K	135K	-200K	100K	-
Asset Writedown & Restructuring Costs	65K	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-	-827K	-400K	-1.1M	-3.2M
Stock-Based Compensation (CF)	8.74M	6.63M	4.4M	3.7M	6.3M
Other Operating Activities, Total	-4.54M	-12.29M	-2.8M	900K	-2M
Change In Accounts Receivable	20.5M	-17M	-14.2M	-15.4M	-17.4M
Change In Inventories	-2.94M	-12.24M	-28.1M	-200K	-5.6M
Change In Accounts Payable	2.04M	21.63M	7.9M	7M	24.9M
Cash from Operations	51.74M	38.7M	18.5M	55.7M	78.3M
Capital Expenditure	-4.91M	-7.68M	-10.8M	-14.4M	-27.5M
Sale of Property, Plant, and Equipment	564K	378K	500K	100K	400K
Cash Acquisitions	-25.55M	-42.21M	-54.9M	-12.2M	-136M
Sale (Purchase) of Intangible assets	-40K	-132K	-4.2M	-3.9M	-4.1M
Investment in Marketable and Equity Securities, Total	25K	50K	-	300K	-1.4M
Other Investing Activities, Total	22K	30K	100K	300K	1.8M
Cash from Investing	-29.89M	-49.57M	-69.3M	-29.8M	-167M
Short Term Debt Issued, Total	7M	-	-	-	-
Long-Term Debt Issued, Total	499K	38.23M	69.8M	25.5M	130M
Total Debt Issued	7.5M	38.23M	69.8M	25.5M	130M
Short Term Debt Repaid, Total	-7.06M	-	-	-	-
Long-Term Debt Repaid, Total	-3.15M	-6.82M	-13.6M	-41.8M	-87.9M
Total Debt Repaid	-10.21M	-6.82M	-13.6M	-41.8M	-87.9M
Issuance of Common Stock	-	-	-	-	72.3M
Repurchase of Common Stock	-4.63M	-9.05M	-5.1M	-7.2M	-9.3M
Common Dividends Paid	-1.96M	-6.02M	-7.2M	-5.7M	-6.7M
Common & Preferred Stock Dividends Paid	-1.96M	-6.02M	-7.2M	-5.7M	-6.7M
Other Financing Activities, Total	-1.21M	-1.83M	-3.5M	-2.2M	-3M
Cash from Financing	-10.51M	14.51M	40.4M	-31.4M	95.5M
Foreign Exchange Rate Adjustments	-280K	1.26M	-200K	300K	1.6M
Net Change in Cash	11.06M	4.9M	-10.6M	-5.2M	8.1M
Supplemental Items
Cash Interest Paid	1.03M	1.32M	2.5M	7.9M	14.1M
Cash Income Tax Paid (Refund)	5.14M	3.12M	6.5M	7.9M	14.9M
Levered Free Cash Flow	38.91M	15.1M	-14.78M	25.85M	20.75M
Unlevered Free Cash Flow	39.61M	15.89M	-12.76M	30.9M	30.11M
Change In Net Working Capital	-12.97M	15.34M	49.8M	11.7M	23.2M
Net Debt Issued / Repaid	-2.71M	31.4M	56.2M	-16.3M	42.2M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	4.79	5.93	5.99	6.55	6.3
Return on Total Capital	8.34	9.93	9.45	9.83	9.86
Return On Equity %	11.94	24.73	15.49	16.95	14.15
Return on Common Equity	11.94	24.73	15.79	17.26	14.23
Margin Analysis
Gross Profit Margin %	23.17	23.43	20.47	21.72	22.22
SG&A Margin	17.11	15.1	11.52	12.66	12.77
EBITDA Margin %	6.77	9.19	9.86	9.89	10.41
EBITA Margin %	5.84	8.15	8.82	8.76	9.06
EBIT Margin %	4.39	6.98	7.14	7.53	7.59
Income From Continuing Operations Margin %	3.76	8.77	4.95	5.17	4.4
Net Income Margin %	3.76	8.77	4.95	5.09	4.31
Net Avail. For Common Margin %	3.76	8.77	4.95	5.09	4.31
Normalized Net Income Margin	2.56	4.19	4	3.96	3.85
Levered Free Cash Flow Margin	9.94	3.41	-2.4	3.58	2.27
Unlevered Free Cash Flow Margin	10.12	3.58	-2.08	4.28	3.3
Asset Turnover
Asset Turnover	1.74	1.36	1.34	1.39	1.33
Fixed Assets Turnover	15.55	11.05	10.86	9.81	8.5
Receivables Turnover (Average Receivables)	6.13	5.66	5.61	5.66	5.63
Inventory Turnover (Average Inventory)	5.61	5.03	4.98	4.72	4.82
Short Term Liquidity
Current Ratio	1.67	1.47	1.69	1.62	1.49
Quick Ratio	1.05	0.97	0.98	0.96	0.85
Operating Cash Flow to Current Liabilities	0.55	0.25	0.11	0.3	0.28
Days Sales Outstanding (Average Receivables)	60.52	64.33	64.94	64.26	64.66
Days Outstanding Inventory (Average Inventory)	66.08	72.32	73.05	77.14	75.57
Average Days Payable Outstanding	51.24	56.78	53.72	54.28	51.83
Cash Conversion Cycle (Average Days)	75.36	79.87	84.27	87.12	88.4
Long Term Solvency