IDOX Plc (IDOX)
ISR viewIDOX is a well run and ambitious company but, in our view, this has yet to be fully appreciated by the City. After a tough 12 months, IDOX has emerged largely unscathed from the uncertainties around public sector spending cuts and the strategy really seems to be gaining momentum once again.
Share price27.75p
Market cap.£95.8m
Financials
|
Year end Oct Profit & Loss |
Oct 2006 A £m | Oct 2007 A £m | Oct 2008 A £m | Oct 2009 A £m | Oct 2010 A £m | Oct 2011 A £m |
Oct 2012 E £m |
|---|---|---|---|---|---|---|---|
| Revenue £m | 13.0 | 20.6 | 34.0 | 32.2 | 31.3 | 38.6 | 53.1 |
| Adj EBITDA £m | 0.5 | 2.8 | 8.6 | 7.5 | 8.7 | 11.4 | 14.7 |
| Adj EBIT £m | -0.1 | 2.5 | 8.2 | 7.1 | 8.3 | 10.9 | 14.0 |
| Reported PBT | -0.5 | 1.8 | 6.6 | 4.5 | 4.9 | 5.6 | 10.9 |
| PBT before exceptionals and AAG | 0.1 | 2.2 | 7.5 | 6.6 | 7.8 | 9.7 | 14.1 |
| Fully adj PBT | 0.1 | 2.5 | 7.6 | 6.7 | 8.0 | 10.8 | 14.2 |
| NOPAT £m | -0.1 | 1.7 | 5.8 | 5.0 | 5.8 | 7.6 | 9.8 |
| Reported EPS | -0.5 | 0.6 | 1.4 | 1.0 | 1.0 | 1.3 | 2.3 |
| EPS before exceptionals and AAG | 0.0 | 0.6 | 1.5 | 1.3 | 1.6 | 1.9 | 2.8 |
| Fully adj EPS | 0.0 | 0.7 | 1.5 | 1.4 | 1.6 | 2.1 | 2.8 |
| Dividend per share p | 0.0 | 0.1 | 0.1 | 0.2 | 0.5 | 0.6 | 0.8 |
| Cash flow & Balance sheet | |||||||
| Operating cash flow | 0.6 | -0.1 | 4.9 | 7.5 | 8.7 | 7.5 | 12.7 |
| Free Cash flow £m | 0.1 | -0.4 | 2.8 | 4.8 | 7.1 | 4.7 | 9.3 |
| FCF per share p | 0.1 | -0.2 | 0.8 | 1.4 | 2.1 | 1.3 | 2.6 |
| Capex | -0.4 | -0.3 | -0.6 | -1.1 | -4.1 | -0.1 | -1.0 |
| Acquisitions | -0.2 | -13.3 | -2.8 | -0.8 | -6.4 | -3.2 | -11.5 |
| Net cash flow | 0.1 | -13.8 | -0.7 | 2.6 | -3.7 | -1.3 | -5.2 |
| Shares issued | 0.0 | 10.4 | 0.2 | -0.2 | -0.3 | -0.1 | 0.0 |
| Net cash | 4.8 | 1.3 | 1.0 | 3.2 | -0.9 | -2.4 | -7.6 |
| Metrics | Oct 2006 A | Oct 2007 A | Oct 2008 A | Oct 2009 A | Oct 2010 A | Oct 2011 A | Oct 2012 E |
| Revenue growth | 58.3% | 65.0% | -5.5% | -2.8% | 23.5% | 37.5% | |
| Adj EBITDA growth | 492.1% | 201.7% | -12.6% | 16.3% | 30.8% | 29.1% | |
| Adj EBIT growth | -2650.0% | 229.5% | -13.4% | 16.6% | 31.2% | 28.6% | |
| Adj PBT growth | 4835.3% | 201.8% | -12.1% | 20.0% | 34.2% | 32.3% | |
| Adj EPS growth | 3443.9% | 133.1% | -11.8% | 19.7% | 31.7% | 32.3% | |
| Dividend growth | 20.0% | 66.7% | 125.0% | 33.3% | 25.0% | ||
| Adj EBIT margins | -0.8% | 12.1% | 24.2% | 22.2% | 26.6% | 28.2% | 26.4% |
| Operating cash conversion | 115.0% | -4.0% | 57.0% | 100.0% | 100.0% | 65.0% | 86.0% |
| Capex/Depreciation | 68.0% | 93.0% | 189.0% | 293.0% | 1013.0% | 21.0% | 143.0% |