WASHINGTON H. SOUL PATTINSON AND CO. LIMITED (SOL)
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SOL - WASHINGTON H. SOUL PATTINSON AND CO. LIMITED

FNArena Sector : Diversified Financials
Year End: July
GICS Industry Group : Energy
Debt/EBITDA: -24.6
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Washington H Soul Pattinson is an investment house with a diverse portfolio encompassing multiple industries, including pharmaceuticals, mining, building materials and telecommunications. The company first listed on the Sydney Stock Exchange in 1903. It still owns a controversial cross-shareholding with Brickworks (42.7%/44.23%).

LAST PRICE CHANGE +/- CHANGE % VOLUME

$33.92

06 Dec
2023

0.480

OPEN

$33.51

1.44%

HIGH

$33.99

489,348

LOW

$33.48

TARGET
$30.825 -9.1% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
B4P . BFG . CCR . CNI . CPU . CVC . EP1 . EQT . EZL . FID . HMY . LFG . OBL . OFX . PGL . SVW . SZL .
FNARENA'S MARKET CONSENSUS FORECASTS
SOL: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 218.7 255.7 xxx
DPS (cps) xxx 87.0 94.1 xxx
EPS Growth xxx N/A 16.9% xxx
DPS Growth xxx 0.0% 8.2% xxx
PE Ratio xxx N/A 13.2 xxx
Dividend Yield xxx N/A 2.8% xxx
Div Pay Ratio(%) xxx 39.8% 36.8% xxx

Dividend yield today if purchased 3 years ago: 2.96%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.56

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 17/11 - ex-div 51c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx218.7
DPS All xxxxxxxxxxxxxxx87.0
Sales/Revenue xxxxxxxxxxxxxxx362.9 M
Book Value Per Share xxxxxxxxxxxxxxx2,417.3
Net Operating Cash Flow xxxxxxxxxxxxxxx773.5 M
Net Profit Margin xxxxxxxxxxxxxxx192.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx8.15 %
Return on Invested Capital xxxxxxxxxxxxxxx7.90 %
Return on Assets xxxxxxxxxxxxxxx7.01 %
Return on Equity xxxxxxxxxxxxxxx8.15 %
Return on Total Capital xxxxxxxxxxxxxxx-0.65 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx256.9 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx233 M
Long Term Debt xxxxxxxxxxxxxxx204 M
Total Debt xxxxxxxxxxxxxxx437 M
Goodwill - Gross xxxxxxxxxxxxxxx1,116 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,329 M
Price To Book Value xxxxxxxxxxxxxxx1.36

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx177.3 M
Capex % of Sales xxxxxxxxxxxxxxx48.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx255 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx168 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx6,928 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.3

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Morgans

03/10/2023

1

Add

$34.75

2.45%

After reviewing WH Soul Pattinson's FY23 result, Morgans assesses a broadly resilient performance from the portfolio of assets. The result was driven by higher dividends and trading profits from both core strategic investments and structured yield portfolios.

The interim dividend of 51cps (fully franked) was a key highlight for the broker. Following some listed equity sales, it's thought the $911m cash and equivalents balance will allow management to take advantage of any upcoming volatility in the listed and unlisted space.

Morgans likes WH Soul Pattinson's organic and inorganic growth over the long term and retains its Add rating. The target is increased to $34.75 from $30.65.

FORECAST
Morgans forecasts a full year FY24 dividend of 94.20 cents and EPS of 131.10 cents.
Morgans forecasts a full year FY25 dividend of 99.90 cents and EPS of 153.70 cents.
Access Stockbroker Research History >

SOL STOCK CHART

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FNArena Corporate Results Monitor – 04-10-2023

Oct 04 2023 - Australia
5
Next Week At A Glance – 25-29 Sep 2023

Sep 22 2023 - Weekly Reports

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