AI 銘柄分析 · 10年

Smiths Group plc

SMIN · GBP · 分析基準日 2026-11-06

産業用シールと熱管理の事業を持つが、買収・売却後の現金配分と負債を含めて評価する。

10年期待年率3.63%

資本コスト9.00%

直近終値25.73 GBP2026-11-06

AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。

分析の要約

John CraneとFlex-Tekの競争力、設備投資、運転資本、税、従業員株式報酬の負担を考慮した10年評価です。事業売却益の再発生は仮定していません。基準日時点の現金・株数や、将来の買戻し・配当は推計です。将来のリース支払と利息の税効果は過去のグループ実績を参考にした仮定で、控除可能性は未確認です。終点前に権利が発生し、終点後に支払われる想定配当は未収権利として終価に含めています。財務情報の出典はSmithsの2026年年次報告と業績発表、終値は二次株価情報です。

事業

産業用シールや交換部品を扱うJohn Craneと、熱管理や航空宇宙向け部品を扱うFlex-Tekが中核。2026年に売却した2事業は継続事業として扱いません。

競争力・事業の質

顧客設備への組込みと保守需要が競争力となる一方、設備投資循環、住宅建設、石綿関連債務、買収統合に注意。

業界と環境

エネルギー・産業設備の維持需要と、航空宇宙・住宅建設の需要動向に左右されます。

財務・資本配分

事業売却後の現金、買戻し残額、リース、石綿関連債務と株式報酬に必要な現金を分けて扱います。

評価の前提と確認

直近の事業売却益や調整後利益をそのまま継続利益とせず、維持投資後の株主価値と複数シナリオで検討します。

資本コストの前提

資本コスト: 9.00%
rationale: Uniform 9% owner equity required return; unlevered future cash flow capitalized at 9%, conservative vs company WACC; do not use market P/E
tax_nominal_assumption: 0.245

事業別データ

事業別の内訳と、収録されている年度別データを確認できます。

事業別データを開く →

10年のシナリオ

シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億GBP。株主の範囲や受取時点は各分析の前提を確認してください。

シナリオ	確率	株主還元・追加負担	終価
非常に強気：技術深耕・高収益買収	10.0%	35.51	109.86
強気：投資回収と利益率改善	20.0%	31.89	82.70
中立：FY2027ガイダンス近傍と緩やかな複利	40.0%	29.50	66.20
弱気：住宅・エネルギー循環と還元遅延	20.0%	23.44	39.96
厳しい弱気：設備投資停滞・訴訟積増し	10.0%	17.32	20.16

非常に強気：技術深耕・高収益買収（確率 10.0%）

John Craneのアフターサービス拡大とFlex-Tekのデータセンター冷却・航空需要が想定超過。石綿負債譲渡も低コストで完了。

確率の根拠

主観的シナリオ重み。市場が示す客観的確率ではない。

事業別の前提

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名称: John Crane
数量: 1
価格・単価: 24.929369050611
営業利益: 未確認

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名称: Flex-Tek
数量: 1
価格・単価: 21.324196034199
営業利益: 未確認

日付別キャッシュフロー

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想定日: 2026-11-18
year: 0.032854209446
金額: 0
種類: AGM_and_Q1_trading_update_review
source_status: confirmed_calendar
is_cash_to_old_holders: いいえ
注記: 2026 final dividend approval, ongoing repurchases, 5/6 Nov unreported trades and Q1 IFRS/operating guidance require refresh

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想定日: 2026-11-23
year: 0.046543463381
金額: 0
種類: prior_ex_date_dividend_paid_ineligible
source_status: confirmed_schedule_subject_to_AGM
is_cash_to_old_holders: いいえ
company_dividend_cash_oku: 0.938
per_share_gbp: 0.335
record_date: 2026-10-16
注記: 2026-11-06 purchaser ineligible; £93.8m company cost is estimate for pre-cutoff October record cohort
ex_date_model_context: 2026-10-15

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想定日: 2026-12-10
year: 0.093086926762
金額: 0.025000117624
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.025
avg_execution_price_gbp: 25.835642
shares_purchased: 96766
old_holder_shares_sold: 96766
old_holder_shares_before: 270876790
old_holder_shares_after: 270780024
old_holder_fraction_after: 1

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想定日: 2026-12-15
year: 0.106776180698
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 65000
ebt_shares_before: 1590646
ebt_shares_after: 1525646
old_holder_fraction_after: 0.999760010359
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2026-12-18
year: 0.11498973306
金額: 1.999520048348
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 2
avg_execution_price_gbp: 25.860562
shares_purchased: 7733784
old_holder_shares_sold: 7731927.971956
old_holder_shares_before: 270780024
old_holder_shares_after: 263048096.02804
old_holder_fraction_after: 0.999760010359

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想定日: 2027-02-23
year: 0.298425735797
金額: 0
種類: bond_principal_maturity_repayment
source_status: contractual_maturity_date_verified_FX_book_cash_forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 5.54
注記: €650m bonds contractual Feb23 2027/Nov13 2033 via LSE bond listing; GBP book values used as cash settlement proxies, no refinancing forecast

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想定日: 2027-03-15
year: 0.35318275154
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 710000
ebt_shares_before: 1525646
ebt_shares_after: 815646
old_holder_fraction_after: 0.997069440004
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2027-03-17
year: 0.358658453114
金額: 2.492673681691
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 2.5
avg_execution_price_gbp: 26.139424
shares_purchased: 9564098
old_holder_shares_sold: 9536069.837006
old_holder_shares_before: 263048096.02804
old_holder_shares_after: 253512026.19104
old_holder_fraction_after: 0.997069440004

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想定日: 2027-04-01
year: 0.399726214921
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2027-05-14
per_share_gbp: 0.1605
dividend_type: interim
entitled_old_holder_shares: 253512026.19104
company_eligible_shares: 254257142
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2027-04-01

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想定日: 2027-05-14
year: 0.517453798768
金額: 0.406886802037
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.408082713
ex_date: 2027-04-01
per_share_gbp: 0.1605
entitled_old_holder_shares: 253512026.19104
payment_date: 2027-05-14
dividend_type: interim

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想定日: 2027-06-30
year: 0.646132785763
金額: 0
種類: residual_Flex_Tek_disposal_estimate_no_holder_CF
source_status: unclosed_or_undisclosed_at_2026_11_06
is_cash_to_old_holders: いいえ
gross_proceeds_oku: 0.13
tax_outflow_oku: 0.0175
carrying_net_asset_oku: 0.06

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想定日: 2027-07-16
year: 0.689938398357
金額: 3.489742919355
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 3.5
avg_execution_price_gbp: 26.523379
shares_purchased: 13195905
old_holder_shares_sold: 13157233.6087
old_holder_shares_before: 253512026.19104
old_holder_shares_after: 240354792.58234
old_holder_fraction_after: 0.997069440004

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想定日: 2027-08-17
year: 0.777549623546
金額: 0.247672155491
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.2484
avg_execution_price_gbp: 26.62586
shares_purchased: 932928
old_holder_shares_sold: 930193.998524
old_holder_shares_before: 240354792.58234
old_holder_shares_after: 239424598.58381
old_holder_fraction_after: 0.997069440004

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想定日: 2027-08-30
year: 0.813141683778
金額: 0
種類: hypothetical_US_asbestos_liability_transfer_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
transfer_payment_oku: 1.4
discharged_provision_oku: 1.53
pnl_aftertax_assumed_oku: 0.13
注記: not signed/completed at 2026-11-06; scenario only

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想定日: 2027-09-23
year: 0.878850102669
金額: 0
種類: anniversary_award_vesting_estimate_recheck
source_status: forecast
is_cash_to_old_holders: いいえ
grant_announced: 2026-09-23
estimated_grant_value_oku: 0.04
注記: £400 per employee anniversary award grant confirmed, vest date uncertain; ongoing share model covers equivalent EBT funded SBC cash

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想定日: 2027-10-21
year: 0.955509924709
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2027-11-23
per_share_gbp: 0.35845
dividend_type: final
entitled_old_holder_shares: 239424598.58381
company_eligible_shares: 240128309
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2027-10-21

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想定日: 2027-11-23
year: 1.045859000684
金額: 0.858217473624
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.860739924
ex_date: 2027-10-21
per_share_gbp: 0.35845
entitled_old_holder_shares: 239424598.58381
payment_date: 2027-11-23
dividend_type: final

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想定日: 2027-12-17
year: 1.111567419576
金額: 3.988277724002
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 4
avg_execution_price_gbp: 27.020217
shares_purchased: 14803730
old_holder_shares_sold: 14760346.781075
old_holder_shares_before: 239424598.58381
old_holder_shares_after: 224664251.80274
old_holder_fraction_after: 0.997069440004

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想定日: 2028-03-15
year: 1.35523613963
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 1748574
ebt_shares_after: 1058574
old_holder_fraction_after: 0.994025486306
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2028-04-06
year: 1.415468856947
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2028-05-15
per_share_gbp: 0.171735
dividend_type: interim
entitled_old_holder_shares: 224664251.80274
company_eligible_shares: 226014579
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2028-04-06

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想定日: 2028-05-15
year: 1.522245037645
金額: 0.385827152833
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.388146137
ex_date: 2028-04-06
per_share_gbp: 0.171735
entitled_old_holder_shares: 224664251.80274
payment_date: 2028-05-15
dividend_type: interim

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想定日: 2028-08-17
year: 1.779603011636
金額: 0.253088878613
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.25461
avg_execution_price_gbp: 27.826539
shares_purchased: 914990
old_holder_shares_sold: 909523.379715
old_holder_shares_before: 224664251.80274
old_holder_shares_after: 223754728.42302
old_holder_fraction_after: 0.994025486306

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想定日: 2028-08-25
year: 1.801505817933
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2028-09-23
year: 1.88090349076
金額: 0.289022294981
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.290759443
avg_execution_price_gbp: 27.950893
shares_purchased: 1040251
old_holder_shares_sold: 1034036.006155
old_holder_shares_before: 223754728.42302
old_holder_shares_after: 222720692.41687
old_holder_fraction_after: 0.994025486306

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想定日: 2028-10-19
year: 1.952087611225
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2028-11-23
per_share_gbp: 0.3835415
dividend_type: final
entitled_old_holder_shares: 222720692.41687
company_eligible_shares: 224059338
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2028-10-19

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想定日: 2028-11-23
year: 2.047912388775
金額: 0.854226284506
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.859360546
ex_date: 2028-10-19
per_share_gbp: 0.3835415
entitled_old_holder_shares: 222720692.41687
payment_date: 2028-11-23
dividend_type: final

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想定日: 2029-03-15
year: 2.354551676934
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 1973564
ebt_shares_after: 1283564
old_holder_fraction_after: 0.990973741675
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2029-04-05
year: 2.412046543463
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2029-05-14
per_share_gbp: 0.18375645
dividend_type: interim
entitled_old_holder_shares: 222720692.41687
company_eligible_shares: 224749338
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2029-04-05

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想定日: 2029-05-14
year: 2.518822724162
金額: 0.409263637801
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.412991405
ex_date: 2029-04-05
per_share_gbp: 0.18375645
entitled_old_holder_shares: 222720692.41687
payment_date: 2029-05-14
dividend_type: interim

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想定日: 2029-08-17
year: 2.778918548939
金額: 0.258619593027
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.26097525
avg_execution_price_gbp: 29.077857
shares_purchased: 897505
old_holder_shares_sold: 889403.888022
old_holder_shares_before: 222720692.41687
old_holder_shares_after: 221831288.52885
old_holder_fraction_after: 0.990973741675

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想定日: 2029-08-25
year: 2.800821355236
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2029-09-23
year: 2.880219028063
金額: 0.387986411504
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.391520427
avg_execution_price_gbp: 29.207803
shares_purchased: 1340465
old_holder_shares_sold: 1328365.616635
old_holder_shares_before: 221831288.52885
old_holder_shares_after: 220502922.91221
old_holder_fraction_after: 0.990973741675

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想定日: 2029-10-18
year: 2.948665297741
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2029-11-23
per_share_gbp: 0.410389405
dividend_type: final
entitled_old_holder_shares: 220502922.91221
company_eligible_shares: 222511368
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2029-10-18

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想定日: 2029-11-23
year: 3.047227926078
金額: 0.904920633347
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.913163079
ex_date: 2029-10-18
per_share_gbp: 0.410389405
entitled_old_holder_shares: 220502922.91221
payment_date: 2029-11-23
dividend_type: final

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想定日: 2030-03-15
year: 3.353867214237
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2181069
ebt_shares_after: 1491069
old_holder_fraction_after: 0.987910266357
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2030-04-04
year: 3.408624229979
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2030-05-14
per_share_gbp: 0.196619402
dividend_type: interim
entitled_old_holder_shares: 220502922.91221
company_eligible_shares: 223201368
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2030-04-04

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想定日: 2030-05-14
year: 3.518138261465
金額: 0.43355152732
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.438857194
ex_date: 2030-04-04
per_share_gbp: 0.196619402
entitled_old_holder_shares: 220502922.91221
payment_date: 2030-05-14
dividend_type: interim

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想定日: 2030-08-17
year: 3.778234086242
金額: 0.264265486252
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.267499631
avg_execution_price_gbp: 30.385445
shares_purchased: 880354
old_holder_shares_sold: 869710.754629
old_holder_shares_before: 220502922.91221
old_holder_shares_after: 219633212.15758
old_holder_fraction_after: 0.987910266357

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想定日: 2030-08-25
year: 3.800136892539
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2030-09-23
year: 3.879534565366
金額: 0.510253105964
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.51649745
avg_execution_price_gbp: 30.521235
shares_purchased: 1692256
old_holder_shares_sold: 1671797.075705
old_holder_shares_before: 219633212.15758
old_holder_shares_after: 217961415.08188
old_holder_fraction_after: 0.987910266357

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想定日: 2030-10-17
year: 3.945242984257
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2030-11-25
per_share_gbp: 0.439116663
dividend_type: final
entitled_old_holder_shares: 217961415.08188
company_eligible_shares: 220628758
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2030-10-17

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想定日: 2030-11-25
year: 4.052019164956
金額: 0.957104893298
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.968817641
ex_date: 2030-10-17
per_share_gbp: 0.439116663
entitled_old_holder_shares: 217961415.08188
payment_date: 2030-11-25
dividend_type: final

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想定日: 2031-03-15
year: 4.35318275154
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2371423
ebt_shares_after: 1681423
old_holder_fraction_after: 0.984830283034
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2031-04-03
year: 4.405201916496
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2031-05-14
per_share_gbp: 0.21038276
dividend_type: interim
entitled_old_holder_shares: 217961415.08188
company_eligible_shares: 221318758
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2031-04-03

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想定日: 2031-05-14
year: 4.517453798768
金額: 0.458553239923
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.465616511
ex_date: 2031-04-03
per_share_gbp: 0.21038276
entitled_old_holder_shares: 217961415.08188
payment_date: 2031-05-14
dividend_type: interim

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想定日: 2031-08-17
year: 4.777549623546
金額: 0.270027902404
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.274187122
avg_execution_price_gbp: 31.751834
shares_purchased: 863532
old_holder_shares_sold: 850432.463969
old_holder_shares_before: 217961415.08188
old_holder_shares_after: 217110982.61791
old_holder_fraction_after: 0.984830283034

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想定日: 2031-08-25
year: 4.799452429843
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2031-09-23
year: 4.878850102669
金額: 0.644505289334
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.654432874
avg_execution_price_gbp: 31.893729
shares_purchased: 2051917
old_holder_shares_sold: 2020789.999872
old_holder_shares_before: 217110982.61791
old_holder_shares_after: 215090192.61804
old_holder_fraction_after: 0.984830283034

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想定日: 2031-10-16
year: 4.941820670773
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2031-11-24
per_share_gbp: 0.46985483
dividend_type: final
entitled_old_holder_shares: 215090192.61804
company_eligible_shares: 218403309
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2031-10-16

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想定日: 2031-11-24
year: 5.048596851472
金額: 1.010611658409
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 1.026178496
ex_date: 2031-10-16
per_share_gbp: 0.46985483
entitled_old_holder_shares: 215090192.61804
payment_date: 2031-11-24
dividend_type: final

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想定日: 2032-03-15
year: 5.35523613963
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2544955
ebt_shares_after: 1854955
old_holder_fraction_after: 0.981728714582
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2032-04-01
year: 5.401779603012
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2032-05-14
per_share_gbp: 0.225109553
dividend_type: interim
entitled_old_holder_shares: 215090192.61804
company_eligible_shares: 219093309
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2032-04-01

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想定日: 2032-05-14
year: 5.519507186858
金額: 0.48418857067
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.493199968
ex_date: 2032-04-01
per_share_gbp: 0.225109553
entitled_old_holder_shares: 215090192.61804
payment_date: 2032-05-14
dividend_type: interim

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想定日: 2032-08-17
year: 5.779603011636
金額: 0.275906759875
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.2810418
avg_execution_price_gbp: 33.183665
shares_purchased: 846928
old_holder_shares_sold: 831453.536783
old_holder_shares_before: 215090192.61804
old_holder_shares_after: 214258739.08125
old_holder_fraction_after: 0.981728714582

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想定日: 2032-08-25
year: 5.801505817933
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2032-09-23
year: 5.88090349076
金額: 0.791848396589
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.806585791
avg_execution_price_gbp: 33.331959
shares_purchased: 2419857
old_holder_shares_sold: 2375643.102082
old_holder_shares_before: 214258739.08125
old_holder_shares_after: 211883095.97917
old_holder_fraction_after: 0.981728714582

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想定日: 2032-10-21
year: 5.957563312799
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2032-11-23
per_share_gbp: 0.502744668
dividend_type: final
entitled_old_holder_shares: 211883095.97917
company_eligible_shares: 215826524
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2032-10-21

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想定日: 2032-11-23
year: 6.047912388775
金額: 1.065230967152
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 1.085056341
ex_date: 2032-10-21
per_share_gbp: 0.502744668
entitled_old_holder_shares: 211883095.97917
payment_date: 2032-11-23
dividend_type: final

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想定日: 2033-03-15
year: 6.354551676934
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2701883
ebt_shares_after: 2011883
old_holder_fraction_after: 0.978600118202
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2033-04-07
year: 6.417522245038
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2033-05-16
per_share_gbp: 0.240867221
dividend_type: interim
entitled_old_holder_shares: 211883095.97917
company_eligible_shares: 216516524
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2033-04-07

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想定日: 2033-05-16
year: 6.524298425736
金額: 0.510356926053
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.521517335
ex_date: 2033-04-07
per_share_gbp: 0.240867221
entitled_old_holder_shares: 211883095.97917
payment_date: 2033-05-16
dividend_type: interim

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想定日: 2033-08-17
year: 6.778918548939
金額: 0.281903221764
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.288067845
avg_execution_price_gbp: 34.675886
shares_purchased: 830744
old_holder_shares_sold: 812966.176596
old_holder_shares_before: 211883095.97917
old_holder_shares_after: 211070129.80257
old_holder_fraction_after: 0.978600118202

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想定日: 2033-08-25
year: 6.800821355236
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2033-09-23
year: 6.880219028063
金額: 0.953485867507
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.97433663
avg_execution_price_gbp: 34.830848
shares_purchased: 2797338
old_holder_shares_sold: 2737475.297452
old_holder_shares_before: 211070129.80257
old_holder_shares_after: 208332654.50512
old_holder_fraction_after: 0.978600118202

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想定日: 2033-10-20
year: 6.954140999316
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2033-11-23
per_share_gbp: 0.537936795
dividend_type: final
entitled_old_holder_shares: 208332654.50512
company_eligible_shares: 212888442
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2033-10-20

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想定日: 2033-11-13
year: 7.019849418207
金額: 0
種類: bond_principal_maturity_repayment
source_status: contractual_maturity_date_verified_FX_book_cash_forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 5.37
注記: €650m bonds contractual Feb23 2027/Nov13 2033 via LSE bond listing; GBP book values used as cash settlement proxies, no refinancing forecast

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想定日: 2033-11-23
year: 7.047227926078
金額: 1.120698003792
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 1.145205261
ex_date: 2033-10-20
per_share_gbp: 0.537936795
entitled_old_holder_shares: 208332654.50512
payment_date: 2033-11-23
dividend_type: final

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想定日: 2034-03-15
year: 7.353867214237
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2842627
ebt_shares_after: 2152627
old_holder_fraction_after: 0.975438590872
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2034-04-06
year: 7.414099931554
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2034-05-15
per_share_gbp: 0.257727927
dividend_type: interim
entitled_old_holder_shares: 208332654.50512
company_eligible_shares: 213578442
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2034-04-06

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想定日: 2034-05-15
year: 7.520876112252
金額: 0.536931431668
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.550451291
ex_date: 2034-04-06
per_share_gbp: 0.257727927
entitled_old_holder_shares: 208332654.50512
payment_date: 2034-05-15
dividend_type: interim

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想定日: 2034-08-17
year: 7.778234086242
金額: 0.288017248973
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.295269541
avg_execution_price_gbp: 36.235209
shares_purchased: 814869
old_holder_shares_sold: 794854.669105
old_holder_shares_before: 208332654.50512
old_holder_shares_after: 207537799.83602
old_holder_fraction_after: 0.975438590872

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想定日: 2034-08-25
year: 7.800136892539
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2034-09-23
year: 7.879534565366
金額: 1.08335736769
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 1.110635982
avg_execution_price_gbp: 36.39714
shares_purchased: 3051438
old_holder_shares_sold: 2976490.382853
old_holder_shares_before: 207537799.83602
old_holder_shares_after: 204561309.45316
old_holder_fraction_after: 0.975438590872

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想定日: 2034-10-19
year: 7.950718685832
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2034-11-23
per_share_gbp: 0.57559237
dividend_type: final
entitled_old_holder_shares: 204561309.45316
company_eligible_shares: 209712135
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2034-10-19

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想定日: 2034-11-23
year: 8.046543463381
金額: 1.177439289683
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 1.207087049
ex_date: 2034-10-19
per_share_gbp: 0.57559237
entitled_old_holder_shares: 204561309.45316
payment_date: 2034-11-23
dividend_type: final

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想定日: 2035-03-15
year: 8.35318275154
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 690000
ebt_shares_before: 2967496
ebt_shares_after: 2277496
old_holder_fraction_after: 0.972239703999
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2035-04-05
year: 8.41067761807
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2035-05-14
per_share_gbp: 0.275768882
dividend_type: interim
entitled_old_holder_shares: 204561309.45316
company_eligible_shares: 210402135
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2035-04-05

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想定日: 2035-05-14
year: 8.517453798768
金額: 0.564116435803
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.580223615
ex_date: 2035-04-05
per_share_gbp: 0.275768882
entitled_old_holder_shares: 204561309.45316
payment_date: 2035-05-14
dividend_type: interim

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想定日: 2035-08-17
year: 8.777549623546
金額: 0.294249716564
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.30265128
avg_execution_price_gbp: 37.864652
shares_purchased: 799298
old_holder_shares_sold: 777109.250927
old_holder_shares_before: 204561309.45316
old_holder_shares_after: 203784200.20224
old_holder_fraction_after: 0.972239703999

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想定日: 2035-08-25
year: 8.799452429843
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2035-09-23
year: 8.878850102669
金額: 1.276967251882
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 1.313428445
avg_execution_price_gbp: 38.033865
shares_purchased: 3453313
old_holder_shares_sold: 3357448.008936
old_holder_shares_before: 203784200.20224
old_holder_shares_after: 200426752.1933
old_holder_fraction_after: 0.972239703999

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想定日: 2035-10-18
year: 8.947296372348
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2035-11-23
per_share_gbp: 0.615883836
dividend_type: final
entitled_old_holder_shares: 200426752.1933
company_eligible_shares: 206149524
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2035-10-18

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想定日: 2035-11-23
year: 9.045859000684
金額: 1.234395970101
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 1.269641597
ex_date: 2035-10-18
per_share_gbp: 0.615883836
entitled_old_holder_shares: 200426752.1933
payment_date: 2035-11-23
dividend_type: final

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想定日: 2036-03-15
year: 9.35523613963
金額: 0
種類: sbc_existing_ebt_share_delivery
source_status: forecast
is_cash_to_old_holders: いいえ
delivered_shares: 586311
ebt_shares_before: 3076794
ebt_shares_after: 2490483
old_holder_fraction_after: 0.969482393767
注記: no cash paid by old holders; EBT shares transferred to employee public float; P&L expense and capital credit modeled

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想定日: 2036-04-03
year: 9.407255304586
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2036-05-14
per_share_gbp: 0.295072704
dividend_type: interim
entitled_old_holder_shares: 200426752.1933
company_eligible_shares: 206735835
注記: pay amount based on this ex-date snapshot, not later shares
ex_date_model_context: 2036-04-03

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想定日: 2036-05-14
year: 9.519507186858
金額: 0.591404636421
種類: dividend_paid
source_status: forecast
is_cash_to_old_holders: はい
company_dividend_cash_oku: 0.610021018
ex_date: 2036-04-03
per_share_gbp: 0.295072704
entitled_old_holder_shares: 200426752.1933
payment_date: 2036-05-14
dividend_type: interim

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想定日: 2036-08-17
year: 9.779603011636
金額: 0.255555851531
種類: ebt_market_purchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.263600169
avg_execution_price_gbp: 39.572138
shares_purchased: 666126
old_holder_shares_sold: 645797.429031
old_holder_shares_before: 200426752.1933
old_holder_shares_after: 199780954.76427
old_holder_fraction_after: 0.969482393767

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想定日: 2036-08-25
year: 9.801505817933
金額: 0
種類: assumed_bolt_on_acquisition_cash_spend_no_holder_CF
source_status: forecast
is_cash_to_old_holders: いいえ
company_cash_spend_oku: 0.9
注記: future unannounced deals; acquired revenue recognized from the next calendar year only

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想定日: 2036-09-23
year: 9.88090349076
金額: 0.924614724105
種類: issuer_repurchase
source_status: forecast
is_cash_to_old_holders: はい
company_cash_cost_oku: 0.953719981
avg_execution_price_gbp: 39.748982
shares_purchased: 2399357
old_holder_shares_sold: 2326134.367863
old_holder_shares_before: 199780954.76427
old_holder_shares_after: 197454820.39641
old_holder_fraction_after: 0.969482393767

内容を開く

想定日: 2036-10-16
year: 9.943874058864
金額: 0
種類: dividend_ex_date_review
source_status: forecast
is_cash_to_old_holders: いいえ
payment_date: 2036-11-24
per_share_gbp: 0.658995705
dividend_type: final
entitled_old_holder_shares: 197454820.39641
company_eligible_shares: 203670352
注記: Forecast date and forecast dividend rate; zero money at ex-date. Entitled old holder shares are fixed on this snapshot; receivable at the 2036-11-06 terminal date appears in terminal and mcap only, not in timed_cashflows.
entitlement_right_classification: predicted_2036_ex_date_not_2026_issuer_confirmed
post_horizon_right_valued_separately: はい
ex_date_model_context: 2036-10-16

内容を開く

想定日: 2036-10-16
year: 9.943874058864
金額: 0
種類: ex_dividend_future_payment_after_model_end
source_status: forecast
is_cash_to_old_holders: いいえ
post_horizon_payment_date: 2036-11-24
outstanding_expected_company_cash_oku: 1.342178871
注記: Terminal receivable correction v2: pay 2036-11-24 remains after ten-year horizon; keep amount=0, company liability already reduces ex-div corporate stock value, old-holder discounted receivable included separately in terminal mcap.
old_holder_nominal_unpaid_receivable_oku: 1.301218785728
old_holder_2036_11_06_receivable_pv_oku: 1.295704292623
future_dividend_payment_not_within_timed_cashflows: はい

その他の数値・前提

売上高

46.253565085987

営業利益

10.6613912711

純利益

7.6921946959293

equity_oku

39.00854476

期間内の親会社利益合計（億）

49.32919461

multiple

14.557987272013

期間内株主受取

35.51048755

終価

109.86112756271

company_mcap_oku

111.98287247718

adjust_oku

9.832145159

キャッシュフローの算出方法

timed_holder_cashflows_v1

annual_ledger

内容を開く

period_id

2026_post_close_55d

period_start

2026-11-07

期間末

2026-12-31

calendar_inclusive_days

calendar_year_total_days

365

calendar_fraction

0.150684931507

period_start_year

0.002737850787

period_end_year

0.150581793292

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 23.96
gross_borrowings_oku: 12.04
equity_parent_oku: 23.58
非支配持分資本（億）: 0.23
legacy_provision_oku: 1.53
発行済株式数: 272370670
EBT_shares: 1493880
old_holder_shares: 270876790

segments

john_crane_revenue_oku: 1.79963413
flex_tek_revenue_oku: 1.348493247

売上高

3.148127377

headline_op_oku

0.69573615

headline_margin

0.221

nonheadline_cost_oku

0.097945205

of_which_acquired_intang_amort_oku

0.052739726

SBC_total_expensed_oku

0.040684932

SBC_nonheadline_expensed_oku

0.02109589

IFRS_operating_profit_oku

0.597790945

net_finance_oku

-0.018082192

IFRS_profit_before_tax_continuing_oku

0.579708753

tax_expense_continuing_oku

0.139130101

nci_profit_oku

0.003315068

parent_NI_operating_oku

0.437263584

parent_NI_special_oku

parent_net_income_oku

0.437263584

D_and_A_oku

0.122054795

cash_capex_oku

0.099957704

working_capital_increment_oku

0.016575342

lease_principal_oku

0.061780822

core_company_FCF_after_tax_oku

0.423497661

cash_paid_prior_ex_dividend_oku

0.938

company_dividends_paid_oku

0.938

issuer_buyback_cash_oku

EBT_market_buy_cash_oku

0.025

unannounced_MA_cash_oku

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.040684932

NCI_dividend_paid_oku

0.001506849

ending

内容を開く

現金（億）: 21.420497661
gross_borrowings_oku: 12.04
net_cash_oku: 9.380497661
equity_parent_oku: 21.094948515
非支配持分資本（億）: 0.231808219
legacy_provision_oku: 1.53
発行済株式数: 264636886
EBT_shares: 1525646
old_holder_shares: 263048096.02804
float_excluding_ebt: 263111240
old_cohort_fraction: 0.999760010359

old_holder_cash_received_in_period_oku

2.024520166

events_in_period

equity_clean_surplus_residual_oku

lease_cashflow_legacy_classification_note

The preexisting lease_principal_oku is a LEGACY FIELD NAME for modeled annual GBP41m ALL-IN lease cash (including interest). This v3 annotates it but does not alter annual forecast cash, finance P&L, tax, shares, capital, payouts or debt. FY2026 GBP6m interest divided by 41m total is a future split assumption, not an audited cash split.

lease_cash_total_incl_interest_oku_metadata_only

0.061780822

lease_principal_component_proxy_oku_metadata_only

0.052739726098

lease_interest_component_proxy_oku_metadata_only

0.009041095902

内容を開く

period_id

calendar_2027

period_start

2027-01-01

期間末

2027-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

0.153319644079

period_end_year

1.149897330595

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 21.420497661
gross_borrowings_oku: 12.04
equity_parent_oku: 21.094948515
非支配持分資本（億）: 0.231808219
legacy_provision_oku: 1.53
発行済株式数: 264636886
EBT_shares: 1525646
old_holder_shares: 263048096.02804

segments

john_crane_revenue_oku: 12.1249
flex_tek_revenue_oku: 9.27367

売上高

21.39857

headline_op_oku

4.81467825

headline_margin

0.225

nonheadline_cost_oku

0.65

of_which_acquired_intang_amort_oku

0.35

SBC_total_expensed_oku

0.27

SBC_nonheadline_expensed_oku

0.14

IFRS_operating_profit_oku

4.16467825

net_finance_oku

-0.12

IFRS_profit_before_tax_continuing_oku

4.04467825

tax_expense_continuing_oku

0.97072278

nci_profit_oku

0.022

parent_NI_operating_oku

3.05195547

parent_NI_special_oku

0.1825

parent_net_income_oku

3.23445547

D_and_A_oku

0.81

cash_capex_oku

0.66335567

working_capital_increment_oku

0.1217142

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

2.9488856

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.268822637

issuer_buyback_cash_oku

EBT_market_buy_cash_oku

0.2484

unannounced_MA_cash_oku

bond_repayment_oku

5.54

extra_borrowing_oku

residual_disposal_net_cash_oku

0.1125

legacy_liability_cash_oku

1.4

SBC_equity_credit_oku

0.27

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 6.024660624
gross_borrowings_oku: 6.5
net_cash_oku: -0.475339376
equity_parent_oku: 13.082181349
非支配持分資本（億）: 0.243808219
legacy_provision_oku: 0
発行済株式数: 227073153
EBT_shares: 1748574
old_holder_shares: 224664251.80274
float_excluding_ebt: 225324579
old_cohort_fraction: 0.997069440004

old_holder_cash_received_in_period_oku

11.483470756

events_in_period

equity_clean_surplus_residual_oku

4.8E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2028

period_start

2028-01-01

期間末

2028-12-31

calendar_inclusive_days

366

calendar_year_total_days

366

calendar_fraction

period_start_year

1.152635181383

period_end_year

2.151950718686

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 6.024660624
gross_borrowings_oku: 6.5
equity_parent_oku: 13.082181349
非支配持分資本（億）: 0.243808219
legacy_provision_oku: 0
発行済株式数: 227073153
EBT_shares: 1748574
old_holder_shares: 224664251.80274

segments

john_crane_revenue_oku: 12.973643
flex_tek_revenue_oku: 9.94137424

売上高

22.91501724

headline_op_oku

5.227488308

headline_margin

0.228125

nonheadline_cost_oku

0.65

of_which_acquired_intang_amort_oku

0.35

SBC_total_expensed_oku

0.27675

SBC_nonheadline_expensed_oku

0.1425

IFRS_operating_profit_oku

4.577488308

net_finance_oku

-0.492596109

IFRS_profit_before_tax_continuing_oku

4.084892199

tax_expense_continuing_oku

0.980374128

nci_profit_oku

0.022

parent_NI_operating_oku

3.082518071

parent_NI_special_oku

parent_net_income_oku

3.082518071

D_and_A_oku

0.822

cash_capex_oku

0.710365534

working_capital_increment_oku

0.090986834

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

2.981915702

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.247506683

issuer_buyback_cash_oku

0.290759443

EBT_market_buy_cash_oku

0.25461

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.27675

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 6.313700201
gross_borrowings_oku: 6.5
net_cash_oku: -0.186299799
equity_parent_oku: 14.648573294
非支配持分資本（億）: 0.255808219
legacy_provision_oku: 0
発行済株式数: 226032902
EBT_shares: 1973564
old_holder_shares: 222720692.41687
float_excluding_ebt: 224059338
old_cohort_fraction: 0.994025486306

old_holder_cash_received_in_period_oku

1.782164611

events_in_period

equity_clean_surplus_residual_oku

-1.01E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2029

period_start

2029-01-01

期間末

2029-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

2.154688569473

period_end_year

3.151266255989

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 6.313700201
gross_borrowings_oku: 6.5
equity_parent_oku: 14.648573294
非支配持分資本（億）: 0.255808219
legacy_provision_oku: 0
発行済株式数: 226032902
EBT_shares: 1973564
old_holder_shares: 222720692.41687

segments

john_crane_revenue_oku: 14.138940867
flex_tek_revenue_oku: 11.042867471

売上高

25.181808338

headline_op_oku

5.823293178

headline_margin

0.23125

nonheadline_cost_oku

0.6815

of_which_acquired_intang_amort_oku

0.3815

SBC_total_expensed_oku

0.28366875

SBC_nonheadline_expensed_oku

0.145

IFRS_operating_profit_oku

5.141793178

net_finance_oku

-0.487393396

IFRS_profit_before_tax_continuing_oku

4.654399782

tax_expense_continuing_oku

1.117055948

nci_profit_oku

0.022

parent_NI_operating_oku

3.515343834

parent_NI_special_oku

parent_net_income_oku

3.515343834

D_and_A_oku

0.8655

cash_capex_oku

0.780636058

working_capital_increment_oku

0.136007466

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

3.34986906

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.326154484

issuer_buyback_cash_oku

0.391520427

EBT_market_buy_cash_oku

0.26097525

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.28366875

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 6.7849191
gross_borrowings_oku: 6.5
net_cash_oku: 0.2849191
equity_parent_oku: 16.468935717
非支配持分資本（億）: 0.267808219
legacy_provision_oku: 0
発行済株式数: 224692437
EBT_shares: 2181069
old_holder_shares: 220502922.91221
float_excluding_ebt: 222511368
old_cohort_fraction: 0.990973741675

old_holder_cash_received_in_period_oku

1.960790276

events_in_period

equity_clean_surplus_residual_oku

-1.0E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2030

period_start

2030-01-01

期間末

2030-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

3.154004106776

period_end_year

4.150581793292

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 6.7849191
gross_borrowings_oku: 6.5
equity_parent_oku: 16.468935717
非支配持分資本（億）: 0.267808219
legacy_provision_oku: 0
発行済株式数: 224692437
EBT_shares: 2181069
old_holder_shares: 220502922.91221

segments

john_crane_revenue_oku: 15.385809585
flex_tek_revenue_oku: 12.223668215

売上高

27.6094778

headline_op_oku

6.470971359

headline_margin

0.234375

nonheadline_cost_oku

0.713

of_which_acquired_intang_amort_oku

0.413

SBC_total_expensed_oku

0.290760469

SBC_nonheadline_expensed_oku

0.1475

IFRS_operating_profit_oku

5.757971359

net_finance_oku

-0.478911456

IFRS_profit_before_tax_continuing_oku

5.279059903

tax_expense_continuing_oku

1.266974377

nci_profit_oku

0.022

parent_NI_operating_oku

3.990085526

parent_NI_special_oku

parent_net_income_oku

3.990085526

D_and_A_oku

0.909

cash_capex_oku

0.855893812

working_capital_increment_oku

0.145660168

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

3.790292016

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.407674835

issuer_buyback_cash_oku

0.51649745

EBT_market_buy_cash_oku

0.267499631

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.290760469

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 7.483539199
gross_borrowings_oku: 6.5
net_cash_oku: 0.983539199
equity_parent_oku: 18.558109796
非支配持分資本（億）: 0.279808219
legacy_provision_oku: 0
発行済株式数: 223000181
EBT_shares: 2371423
old_holder_shares: 217961415.08188
float_excluding_ebt: 220628758
old_cohort_fraction: 0.987910266357

old_holder_cash_received_in_period_oku

2.165175013

events_in_period

equity_clean_surplus_residual_oku

5.78E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2031

period_start

2031-01-01

期間末

2031-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

4.153319644079

period_end_year

5.149897330595

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 7.483539199
gross_borrowings_oku: 6.5
equity_parent_oku: 18.558109796
非支配持分資本（億）: 0.279808219
legacy_provision_oku: 0
発行済株式数: 223000181
EBT_shares: 2371423
old_holder_shares: 217961415.08188

segments

john_crane_revenue_oku: 16.719959113
flex_tek_revenue_oku: 13.489486612

売上高

30.209445725

headline_op_oku

7.17474336

headline_margin

0.2375

nonheadline_cost_oku

0.7445

of_which_acquired_intang_amort_oku

0.4445

SBC_total_expensed_oku

0.29802948

SBC_nonheadline_expensed_oku

0.15

IFRS_operating_profit_oku

6.43024336

net_finance_oku

-0.466336294

IFRS_profit_before_tax_continuing_oku

5.963907065

tax_expense_continuing_oku

1.431337696

nci_profit_oku

0.022

parent_NI_operating_oku

4.51056937

parent_NI_special_oku

parent_net_income_oku

4.51056937

D_and_A_oku

0.9525

cash_capex_oku

0.936492817

working_capital_increment_oku

0.155998076

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

4.270607957

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.491795007

issuer_buyback_cash_oku

0.654432874

EBT_market_buy_cash_oku

0.274187122

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.29802948

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 8.433732154
gross_borrowings_oku: 6.5
net_cash_oku: 1.933732154
equity_parent_oku: 20.946293644
非支配持分資本（億）: 0.291808219
legacy_provision_oku: 0
発行済株式数: 220948264
EBT_shares: 2544955
old_holder_shares: 215090192.61804
float_excluding_ebt: 218403309
old_cohort_fraction: 0.984830283034

old_holder_cash_received_in_period_oku

2.38369809

events_in_period

equity_clean_surplus_residual_oku

6.5E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2032

period_start

2032-01-01

期間末

2032-12-31

calendar_inclusive_days

366

calendar_year_total_days

366

calendar_fraction

period_start_year

5.152635181383

period_end_year

6.151950718686

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 8.433732154
gross_borrowings_oku: 6.5
equity_parent_oku: 20.946293644
非支配持分資本（億）: 0.291808219
legacy_provision_oku: 0
発行済株式数: 220948264
EBT_shares: 2544955
old_holder_shares: 215090192.61804

segments

john_crane_revenue_oku: 18.147499108
flex_tek_revenue_oku: 14.846443934

売上高

32.993943042

headline_op_oku

7.939167544

headline_margin

0.240625

nonheadline_cost_oku

0.776

of_which_acquired_intang_amort_oku

0.476

SBC_total_expensed_oku

0.305480217

SBC_nonheadline_expensed_oku

0.1525

IFRS_operating_profit_oku

7.163167544

net_finance_oku

-0.449232821

IFRS_profit_before_tax_continuing_oku

6.713934723

tax_expense_continuing_oku

1.611344334

nci_profit_oku

0.022

parent_NI_operating_oku

5.08059039

parent_NI_special_oku

parent_net_income_oku

5.08059039

D_and_A_oku

0.996

cash_capex_oku

1.022812234

working_capital_increment_oku

0.167069839

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

4.794188534

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.578256309

issuer_buyback_cash_oku

0.806585791

EBT_market_buy_cash_oku

0.2810418

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.305480217

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 9.662036787
gross_borrowings_oku: 6.5
net_cash_oku: 3.162036787
equity_parent_oku: 23.666480351
非支配持分資本（億）: 0.303808219
legacy_provision_oku: 0
発行済株式数: 218528407
EBT_shares: 2701883
old_holder_shares: 211883095.97917
float_excluding_ebt: 215826524
old_cohort_fraction: 0.981728714582

old_holder_cash_received_in_period_oku

2.617174694

events_in_period

equity_clean_surplus_residual_oku

-3.13E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2033

period_start

2033-01-01

期間末

2033-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

6.154688569473

period_end_year

7.151266255989

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 9.662036787
gross_borrowings_oku: 6.5
equity_parent_oku: 23.666480351
非支配持分資本（億）: 0.303808219
legacy_provision_oku: 0
発行済株式数: 218528407
EBT_shares: 2701883
old_holder_shares: 211883095.97917

segments

john_crane_revenue_oku: 19.674966903
flex_tek_revenue_oku: 16.301102182

売上高

35.976069085

headline_op_oku

8.76916684

headline_margin

0.24375

nonheadline_cost_oku

0.8075

of_which_acquired_intang_amort_oku

0.5075

SBC_total_expensed_oku

0.313117223

SBC_nonheadline_expensed_oku

0.155

IFRS_operating_profit_oku

7.96166684

net_finance_oku

-0.427123338

IFRS_profit_before_tax_continuing_oku

7.534543502

tax_expense_continuing_oku

1.80829044

nci_profit_oku

0.022

parent_NI_operating_oku

5.704253061

parent_NI_special_oku

parent_net_income_oku

5.704253061

D_and_A_oku

1.0395

cash_capex_oku

1.115258142

working_capital_increment_oku

0.178927563

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

5.36468458

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.666722596

issuer_buyback_cash_oku

0.97433663

EBT_market_buy_cash_oku

0.288067845

unannounced_MA_cash_oku

0.9

bond_repayment_oku

5.37

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.313117223

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 5.827594296
gross_borrowings_oku: 1.13
net_cash_oku: 4.697594296
equity_parent_oku: 26.754723563
非支配持分資本（億）: 0.315808219
legacy_provision_oku: 0
発行済株式数: 215731069
EBT_shares: 2842627
old_holder_shares: 208332654.50512
float_excluding_ebt: 212888442
old_cohort_fraction: 0.978600118202

old_holder_cash_received_in_period_oku

2.866444019

events_in_period

equity_clean_surplus_residual_oku

-3.98E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2034

period_start

2034-01-01

期間末

2034-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

7.154004106776

period_end_year

8.150581793292

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 5.827594296
gross_borrowings_oku: 1.13
equity_parent_oku: 26.754723563
非支配持分資本（億）: 0.315808219
legacy_provision_oku: 0
発行済株式数: 215731069
EBT_shares: 2842627
old_holder_shares: 208332654.50512

segments

john_crane_revenue_oku: 21.309357443
flex_tek_revenue_oku: 17.860495825

売上高

39.169853269

headline_op_oku

9.670057526

headline_margin

0.246875

nonheadline_cost_oku

0.839

of_which_acquired_intang_amort_oku

0.539

SBC_total_expensed_oku

0.320945153

SBC_nonheadline_expensed_oku

0.1575

IFRS_operating_profit_oku

8.831057526

net_finance_oku

-0.582063303

IFRS_profit_before_tax_continuing_oku

8.248994223

tax_expense_continuing_oku

1.979758614

nci_profit_oku

0.022

parent_NI_operating_oku

6.247235609

parent_NI_special_oku

parent_net_income_oku

6.247235609

D_and_A_oku

1.083

cash_capex_oku

1.214265451

working_capital_increment_oku

0.191627051

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

5.847288261

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.75753834

issuer_buyback_cash_oku

1.110635982

EBT_market_buy_cash_oku

0.295269541

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.320945153

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 7.611438693
gross_borrowings_oku: 1.13
net_cash_oku: 6.481438693
equity_parent_oku: 30.159460463
非支配持分資本（億）: 0.327808219
legacy_provision_oku: 0
発行済株式数: 212679631
EBT_shares: 2967496
old_holder_shares: 204561309.45316
float_excluding_ebt: 209712135
old_cohort_fraction: 0.975438590872

old_holder_cash_received_in_period_oku

3.085745338

events_in_period

equity_clean_surplus_residual_oku

4.33E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

calendar_2035

period_start

2035-01-01

期間末

2035-12-31

calendar_inclusive_days

365

calendar_year_total_days

365

calendar_fraction

period_start_year

8.153319644079

period_end_year

9.149897330595

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 7.611438693
gross_borrowings_oku: 1.13
equity_parent_oku: 30.159460463
非支配持分資本（億）: 0.327808219
legacy_provision_oku: 0
発行済株式数: 212679631
EBT_shares: 2967496
old_holder_shares: 204561309.45316

segments

john_crane_revenue_oku: 23.058155321
flex_tek_revenue_oku: 19.53216581

売上高

42.590321132

headline_op_oku

10.647580283

headline_margin

0.25

nonheadline_cost_oku

0.8705

of_which_acquired_intang_amort_oku

0.5705

SBC_total_expensed_oku

0.328968782

SBC_nonheadline_expensed_oku

0.16

IFRS_operating_profit_oku

9.777080283

net_finance_oku

-0.549954104

IFRS_profit_before_tax_continuing_oku

9.227126179

tax_expense_continuing_oku

2.214510283

nci_profit_oku

0.022

parent_NI_operating_oku

6.990615896

parent_NI_special_oku

parent_net_income_oku

6.990615896

D_and_A_oku

1.1265

cash_capex_oku

1.320299955

working_capital_increment_oku

0.205228072

lease_principal_oku

0.41

core_company_FCF_after_tax_oku

6.522556652

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

1.849865212

issuer_buyback_cash_oku

1.313428445

EBT_market_buy_cash_oku

0.30265128

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.328968782

NCI_dividend_paid_oku

0.01

ending

内容を開く

現金（億）: 9.768050409
gross_borrowings_oku: 1.13
net_cash_oku: 8.638050409
equity_parent_oku: 34.013100205
非支配持分資本（億）: 0.339808219
legacy_provision_oku: 0
発行済株式数: 209226318
EBT_shares: 3076794
old_holder_shares: 200426752.1933
float_excluding_ebt: 206149524
old_cohort_fraction: 0.972239703999

old_holder_cash_received_in_period_oku

3.369729374

events_in_period

equity_clean_surplus_residual_oku

2.56E-10

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.41

lease_principal_component_proxy_oku_metadata_only

0.35

lease_interest_component_proxy_oku_metadata_only

0.06

内容を開く

period_id

2036_pre_close_311d

period_start

2036-01-01

期間末

2036-11-06

calendar_inclusive_days

311

calendar_year_total_days

366

calendar_fraction

0.849726775956

period_start_year

9.152635181383

period_end_year

10.001368925394

actual_or_forecast

forecast

historical_FY2026_included

いいえ

opening

内容を開く

現金（億）: 9.768050409
gross_borrowings_oku: 1.13
equity_parent_oku: 34.013100205
非支配持分資本（億）: 0.339808219
legacy_provision_oku: 0
発行済株式数: 209226318
EBT_shares: 3076794
old_holder_shares: 200426752.1933

segments

john_crane_revenue_oku: 21.18315239
flex_tek_revenue_oku: 18.119740346

売上高

39.302892737

headline_op_oku

9.825723184

headline_margin

0.25

nonheadline_cost_oku

0.766453552

of_which_acquired_intang_amort_oku

0.511535519

SBC_total_expensed_oku

0.286521922

SBC_nonheadline_expensed_oku

0.138080601

IFRS_operating_profit_oku

9.059269632

net_finance_oku

-0.434325174

IFRS_profit_before_tax_continuing_oku

8.624944458

tax_expense_continuing_oku

2.06998667

nci_profit_oku

0.018693989

parent_NI_operating_oku

6.536263799

parent_NI_special_oku

parent_net_income_oku

6.536263799

D_and_A_oku

0.994180328

cash_capex_oku

1.218389675

working_capital_increment_oku

0.186765388

lease_principal_oku

0.348387978

core_company_FCF_after_tax_oku

6.073619729

cash_paid_prior_ex_dividend_oku

company_dividends_paid_oku

0.610021018

issuer_buyback_cash_oku

0.953719981

EBT_market_buy_cash_oku

0.263600169

unannounced_MA_cash_oku

0.9

bond_repayment_oku

extra_borrowing_oku

residual_disposal_net_cash_oku

legacy_liability_cash_oku

SBC_equity_credit_oku

0.286521922

NCI_dividend_paid_oku

0.008497268

ending

内容を開く

現金（億）: 13.11432897
gross_borrowings_oku: 1.13
net_cash_oku: 11.98432897
equity_parent_oku: 39.00854476
非支配持分資本（億）: 0.35000494
legacy_provision_oku: 0
発行済株式数: 206826961
EBT_shares: 3156609
old_holder_shares: 197454820.39641
float_excluding_ebt: 203670352
old_cohort_fraction: 0.969482393767

old_holder_cash_received_in_period_oku

1.771575212

events_in_period

equity_clean_surplus_residual_oku

3.69E-10

presentation_scope

2036 January 1 through November 6 only (311 of 366 calendar days); numerical data unchanged from v1; 2037 annual segments are independent full-year forward valuation inputs.

unpaid_final_dividend_terminal_reconciliation

内容を開く

company_2036_final_dividend_assumed_declared_unpaid_liability_oku: 1.342178871
old_holder_nominal_claim_oku: 1.301218785728
old_holder_terminal_claim_pv_oku: 1.295704292623
net_effect_on_terminal_holder_valuation_vs_v1_oku: 1.295704292623
no_company_cash_payment_inside_2036_ledger: はい
注記: Separate valuation-only reconciliation. Does not change underlying assumed 2036 clean-surplus ledger, because declaration date and IFRS ledger recognition are not documented; company stock EV bridge already deducts liability once.

lease_cashflow_legacy_classification_note

lease_cash_total_incl_interest_oku_metadata_only

0.348387978

lease_principal_component_proxy_oku_metadata_only

0.297404371463

lease_interest_component_proxy_oku_metadata_only

0.050983606537

terminal

内容を開く

日付: 2036-11-06
year_from_cutoff_actual_days_over_365_25: 10.001368925394
方法: sustainable_unlevered_owner_FCF_after_tax_over_k_minus_g_plus_excess_cash_less_financial_debt_and_legacy_liabilities
terminal_perpetual_growth: 0.024
equity_cost_k: 0.09
2037_forecast_runrate_revenue_oku: 48.00650779
2037_forecast_headline_margin: 0.25
2037_forecast_IFRS_operating_profit_oku: 11.068126948
2037_operating_tax_oku: 2.656350467
2037_NCI_profit_not_owned_oku: 0.022
2037_D_and_A_oku: 1.2135
2037_total_SBC_expense_noncash_addback_oku: 0.345622827
2037_cash_capex_oku: 1.488201742
2037_operating_working_capital_increment_oku: 0.105176562
2037_lease_principal_cash_oku: 0.35
2037_EBT_share_replacement_cash_oku: 0.317973001
2037_assumed_growth_MA_cash_oku: 0.9
2037_sustainable_unlevered_owner_FCF_oku: 6.741948003
terminal_operating_enterprise_value_oku: 102.15072731818
terminal_company_cash_oku: 13.11432897
terminal_company_gross_debt_oku: 1.13
terminal_assumed_steady_lease_liabilities_oku: 1.04
terminal_nonlease_debt_deducted_oku: 0.09
lease_accounting_note: CORRECTED v3: issuer FY2026 financing Lease payments GBP41m INCLUDE lease interest under company accounting policy; FY2026 GBP6m interest expense is in finance cost OUTSIDE IFRS operating profit, and GBP104m lease liability is in gross borrowings. For 2037 assumed stable GBP41m TOTAL lease cash = approx GBP35m principal + GBP6m interest (using FY2026 interest-expense proxy). 2037 terminal EBIT-based FCF uses -GBP35m -GBP6m*(1-model-tax-rate) exactly once; GBP6m*tax is the separately explicit assumed interest tax shield, not extra rent. The GBP104m lease liability is omitted from terminal EV debt deduction only because full ongoing lease rent is capitalized in FCF. Model GBP41m comes from FY2026 group FY cashflow with divestiture timing and is not company 2037 guidance; actual split/deductibility not separately verified.
required_operating_cash_oku: 1.5
NCI_claim_on_nonoperating_assets_proxy_oku: 0.35000494
terminal_remaining_legacy_provision_oku: 0
pre_terminal_ex_div_future_payment_company_adjustment_oku: 1.342178871
uncompleted_Flex_Tek_disposal_net_assets_oku: 0
total_company_equity_value_oku: 111.98287247718
old_holder_shares_at_terminal: 197454820.39641
issued_shares_at_terminal: 206826961
EBT_shares_at_terminal: 3156609
old_cohort_fraction: 0.969482393767
old_cohort_terminal_mcap_oku: 109.86112756271
2036_partial_days: 311
2036_annual_runrate_not_confused_with_partial: はい
company_ending_equity_value_kind: ex_dividend_stock_only_excludes_unpaid_2036_dividend_receivables
total_company_equity_value_plus_outstanding_dividend_receivables_oku: 113.31936326954
company_unpaid_final_dividend_liability_oku: 1.342178871
company_total_nominal_outstanding_dividend_rights_oku: 1.342178872038
company_outstanding_dividend_rights_terminal_pv_oku: 1.336490792358
old_cohort_terminal_stock_ex_div_only_oku: 108.56542327008
old_cohort_unpaid_dividend_entitlement_shares_at_ex: 197454820.39641
old_cohort_unpaid_dividend_assumed_per_share_gbp: 0.658995705
old_cohort_unpaid_dividend_nominal_oku: 1.301218785728
old_cohort_unpaid_dividend_receivable_pv_at_terminal_oku: 1.295704292623
old_cohort_unpaid_dividend_ex_date_assumed: 2036-10-16
old_cohort_unpaid_dividend_payment_date_assumed: 2036-11-24
old_cohort_receivable_discount_rate: 0.09
old_cohort_receivable_discount_years: 0.049281314168
terminal_old_holder_value_kind: stock_value_ex_div_plus_discounted_old_holder_right_to_future_cash
forecast_2036_dividend_payable_included_once_in_stock_adjustment: はい
forecast_2036_dividend_right_not_in_2036_cashflow_events: はい
2036_partial_revenue_oku: 39.302892737
2036_partial_IFRS_operating_profit_oku: 9.059269632
2036_partial_parent_net_income_oku: 6.536263799
2036_partial_reporting_basis: forecast calendar 2036 Jan 1 to Nov 6 inclusive: 311 / 366 days; NOT 2037 whole-year run rate
2037_runrate_reporting_basis: forecast calendar 2037 Jan 1 to Dec 31 inclusive: full 365-day run rate for perpetual valuation; NOT FY2037 actual or 2036 period profit
company_equity_book_value_2036_ledger_treatment: unchanged v1 forecast parent equity ledger before standalone assumed unpaid dividend adjustment; terminal company stock valuation deducts unpaid 2036 final liability once. No 2036 declared date known; it is not a verified IFRS balance sheet.
2037_lease_interest_cash_proxy_oku: 0.06
2037_lease_cash_total_including_interest_oku: 0.41
2037_lease_interest_after_tax_oku: 0.0456
2037_lease_interest_tax_shield_oku: 0.0144
2037_effective_tax_assumption_for_lease_interest: 0.24
FY2026_lease_finance_interest_expense_oku_actual: 0.06
FY2026_reported_total_lease_cash_outflow_oku_actual: 0.41
FY2026_reported_lease_liability_oku_actual: 1.04
FY2026_lease_interest_expense_divided_by_ending_liability_proxy_rate: 0.057692307692
lease_interest_2037_assumed_rate_on_steady_lease_liability: 0.057692307692
lease_interest_cash_proxy_not_verified_actual_cash_split: はい
2037_lease_cash_adjustment_vs_v2_oku: 0.0144
2037_lease_interest_in_FCF_once: はい
2037_lease_interest_additional_outflow_v3_oku: 0
2037_lease_liability_second_deduction_v3_oku: 0
2037_lease_cash_source_year: FY2026 issuer actual group financing cashflow, extrapolated as 2037 assumed all-in runrate
2037_lease_interest_tax_shield_status: forecast optional assumption; tax deductibility by jurisdiction is NOT individually proven; no-tax-shield scenario reproduces v2.

old_holder_economics

内容を開く

opening_cohort_shares_proxy: 270876790
initial_cost_oku: 69.696598067
terminal_old_holder_shares: 197454820.39641
terminal_public_excluding_trust_shares: 203670352
terminal_old_fraction: 0.969482393767
old_holder_positive_cashflows_sum_oku: 35.51048755
terminal_old_cohort_mcap_oku: 109.86112756271
no_terminal_event_inside_timed_cashflows: はい
past_ex_date_final_2026_old_holder_payment_oku: 0
future_ex_date_2036_post_horizon_paid_omitted: いいえ
terminal_old_cohort_stock_ex_div_only_oku: 108.56542327008
terminal_old_cohort_unpaid_dividend_nominal_oku: 1.301218785728
terminal_old_cohort_unpaid_dividend_pv_oku: 1.295704292623
future_ex_date_2036_post_horizon_paid_in_timed_cashflows: いいえ
future_ex_date_2036_post_horizon_earnings_right_valued_in_terminal: はい
terminal_is_2036_11_06_not_payment_date: はい

valuation

内容を開く

pv_holder_events_at_k_oku: 25.96968090474
pv_terminal_at_k_oku: 46.401053246258
pv_total_oku: 72.370734150998
pv_per_opening_share_gbp: 26.717214919
safety_margin_to_price_pct: 0.038368244049
holder_cashflow_irr: 0.095465105672
irr_npv_residual_oku: -0
pv_terminal_stock_ex_div_only_at_k_oku: 45.853798314444
pv_terminal_receivable_at_k_oku: 0.547254931815
new_right_pv_difference_vs_v1_oku: 0.547254931815
v3_lease_tax_shield_increment_in_FCF_oku: 0.0144
v3_lease_only_increment_old_holder_terminal_oku: 0.211523438083
v3_lease_only_increment_old_holder_present_value_oku: 0.08933924585
v2_dividend_receivable_component_unchanged_v3: はい

net_sum

49.32919461

payout

35.51048755

mcap

109.86112756271

net

6.536263799

9.059269632

equity

39.00854476

company_mcap_ex_div_stock_only_oku

111.98287247718

terminal_old_holder_stock_ex_div_only_oku

108.56542327008

terminal_old_holder_receivable_oku

1.295704292623

2036_partial_vs_2037_runrate_label

内容を開く

売上高: 2036-01-01 to 2036-11-06 311/366 DAYS (calendar forecast)
営業利益: 2036-01-01 to 2036-11-06 311/366 DAYS (calendar forecast IFRS op)
純利益: 2036-01-01 to 2036-11-06 311/366 DAYS (calendar forecast parent NI)
segments: 2037-01-01 to 2037-12-31 full 365 DAYS calendar run rate, future annual, not 2036 partial period and not corporate FY2027 actual

terminal_stock_value_oku

108.56542327008

terminal_holder_receivable_pv_oku

1.295704292623

partial_2036_revenue_oku

39.302892737

partial_2036_op_oku

9.059269632

partial_2036_net_oku

6.536263799

segment_operating_profit_status

not_estimated

multiple_note

終価の会社株式価値を2036年部分期の親会社利益の年率換算で割った参考倍率。終価の入力PERではありません。

強気：投資回収と利益率改善（確率 20.0%）

アフターサービスと熱管理の成長が良好で、2027年のガイダンスを上回り成熟期も高資本効率を維持。

確率の根拠

主観的シナリオ重み。市場が示す客観的確率ではない。

このシナリオの数値・キャッシュフローを開く →

中立：FY2027ガイダンス近傍と緩やかな複利（確率 40.0%）

John Craneの更新需要が堅調、Flex-Tekは米住宅市場が徐々に回復。売却済み事業の利益は反復せず、石綿負債の譲渡費を計上。

確率の根拠

主観的シナリオ重み。市場が示す客観的確率ではない。

このシナリオの数値・キャッシュフローを開く →

弱気：住宅・エネルギー循環と還元遅延（確率 20.0%）

建設・プロセス産業の需要停滞。買戻しは約25%遅延し現金として残る。石綿負債譲渡は不成立。

確率の根拠

主観的シナリオ重み。市場が示す客観的確率ではない。

このシナリオの数値・キャッシュフローを開く →

厳しい弱気：設備投資停滞・訴訟積増し（確率 10.0%）

エネルギー設備の更新と米建設が長期停滞。訴訟負担を追加認識し、当初公表の買戻し計画も大幅縮小。

確率の根拠

主観的シナリオ重み。市場が示す客観的確率ではない。

このシナリオの数値・キャッシュフローを開く →

金額の単位

oku GBP (100 million GBP)

分析基準とデータ

価格・単価: 25.73
price_currency: GBP
listed_quote: 2573
listed_quote_currency: GBp
株価基準日: 2026-11-06
株価の出所: 2026-11-06終値25.73 GBP。FT掲載日付別価格などの二次情報。取引所当日日次原票は直接確認できず。
株数: 270876790
shares_kind: opening beneficial public investor cohort, issued economic proxy less July31 EBT proxy; not legally exact Nov6 shares
株数の出所: 10月末会社開示と11月4日までの既知買戻しを基に推計した流通株から、2026年7月末の信託149万株を代理控除。11月6日の正確な株数と信託残高は未確認です。
shares_precision: estimated as of Nov04 known repurchases; Nov05-06 unannounced trades, EBT transfers and settlement dates unknown
issued_shares_2026_07_31_actual: 295807098
issued_shares_oct_30_official: 274536580
buyback_oct26_oct30_purchased_unsettled: 1611669
buyback_nov02_nov04_purchased: 554241
issued_after_known_trades_proxy: 272370670
EBT_held_2026_07_31_actual_latest: 1493880
initial_old_cohort_shares_proxy: 270876790
initial_old_cohort_cost_oku: 69.696598067
full_company_issued_proxy_mcap_oku: 70.080973391
2026_11_05_06_unpublished_issuer_repurchases: 未確認
2026_11_06_exact_EBT_balance: 未確認
date_specific_price_issuer_primary_confirmed: いいえ

検証上の留意点

reporting

2026 fiscal year ends July 31. Projection uses calendar 2026 Nov7-Dec31 (55 days), 2027-2035 full calendar years and 2036 Jan1-Nov6 (311/366 days), total 55 periods. Top-level each case revenue_oku, op_oku, net_oku are the 2036 311-day PARTIAL period, while case.segments 2037_annual and terminal 2037 runrate are full-calendar-year PROJECTIONS, not 2036 partial values or FY2037 issuer reported.

source_status

company annual and RNS facts through 2026-11-06; unaudited as-of balance proxies, forward years and all assumed event dates explicitly forecasts

invariant_company_parent_equity

ending parent equity = opening parent equity + parent NI(all exceptional and ordinary)+equity SBC credit - issuer cash buyback -E BT cash-funded shares - company dividends. Exact events grouped by calendar period. Prior FY2026 forward liability commitment 319m is not expensed again in cutoff bridge.

invariant_company_cash

ending cash = opening cash + recurring after-tax company cash FCF - dividends - issuer repurchase - employee trust market purchases - acquisitions - bond redemption - legal settlements + disposals + hypothetical funding.

invariant_old_cohort

old shares sold pro rata from public float for issuer repurchases and EBT market purchase; EBT transfer to workers generates zero cash and shifts old holding percentage; dividends paid on eligible old shares only; terminal value company times final old/free-float ratio.

invariant_IRR

Single negative initial outflow at 2026-11-06; positive old cohort dated cash only through 2036-11-06; at 2036-11-06 append one combined terminal of ex-div stock residual plus PV at terminal of October-ex, November-after-end dividend receivable. Separately prob-weight amount by date AND terminal, then root-solve. No post-horizon timed cash. v3 uses operating terminal FCF corrected ONLY for lease interest tax relief; all dated cohort flows and 2036 receivable are identical to v2. Recompute expected CF on each date and root-solve.

SBC_valuation

2037 SBC is non-cash addback with expected market cash to replenish employee trust subtracted once; historical EBT purchases are owner tender receipts and corporate cash expense. The same SBC is never subtracted twice from P&L. An alternative new issue/dilution would change forecasts.

NCI_handling

Parent NI excludes NCI share; company consolidated cash includes subsidiary cash but terminal owner cash flow subtracts ongoing NCI profit, and conservatively deducts NCI book claim from terminal excess cash. This conservative NCI adjustment may overstate minority cash share.

lease_and_debt

FY2026 GBP41m consolidated cash-flow financing Lease payments INCLUDES GBP6m lease interest FINANCE COST (note4), per issuer lease accounting policy; GBP104m lease liabilities in gross borrowing (note18). v2 terminal lease_principal=GBP41m was mislabelled, since it is all-in cash. v3 explicitly models 2037 GBP35m principal plus GBP6m interest proxy; tax-after interest GBP6m*(1-t) plus principal, t from each case 2037 EBIT-based tax rate. Total recurring lease cash remains GBP41m before tax shield. No second deduction of GBP104m in EV bridge; no extra GBP6m gross cash deduction. This terminal-only potential tax shield is contingent on deductibility and availability of tax relief; zero-shield alternative equals v2. Annual ledgers unchanged numeric; legacy annual lease_principal_oku is a misnomer for full lease cash; FY2026 GBP41m total includes discontinued during year. The FY2026 GBP6m is ACCOUNTING EXPENSE, not separately verified cash paid; the 5.769% computed using ending GBP104m liability is only a historical illustrative ratio, not issuer 2037 contractual implied lease rate.

legacy

Asbestos provision 153m is liability, not net debt; settlement reduces cash and provision without new expense; liability transfer difference is direct modeled parent P&L adjustment and obligation is not twice deducted in terminal.

2026_final_dividend

2026 Oct15 ex before cutoff; Nov23 paid by company with new holder zero cash; approval Nov18 still required. Cash outflow 93.8m is a proxy because Oct16 entitled share count not independently verified.

2036_final_ex_date

FORECAST ONLY: 2036-10-16 assumed ex and 2036-11-24 assumed payment (18d post terminal). Company liability already deducted in ex-div stock terminal; old-holder receivable entitlement is nominal shares-at-ex × per-share dividend and discounted from payment to 2036-11-06, added once to mcap. Keep zero dated ex-date review; do not add 2036-11-24 receipt to timed_cashflows. Actual declaration and dates require future revalidation.

forecast_price

Issuer and EBT buyback shares from case-defined assumed market prices, never assume future share quotes from current P/E.

terminal_kind

Company stock enterprise-to-equity derived from sustainable full calendar 2037 365-day cash flow, adjusted for 2036 ex-div unpaid liability once. Old holder mcap is stock ex-div residual plus post-horizon contractual-style forecast dividend claim (PV at terminal). 2036 311-day accounting amounts retained separately. v3 2037 terminal normalized lease cash and tax, without change to 2036 311-day partial-year reported figures or 2036 post-horizon dividend entitlement.

basis_uncertainty

Unannounced Nov 5-6 buyback unknown; shares chosen as last confirmable as-of-source through Nov4 and July EBT proxy. Price source is dated secondary; official listing confirms identity but LSE historical value not retrieved.

warnings

内容を開く

1: 37.5 pence nominal is not price; quote 2,573p divided by 100 to 25.73 GBP
2: No 2026 AGM result or November Q1 data used because as-of cutoff
3: uncompleted business sale proceeds £40m must not be assumed all receivable after cutoff
4: all FY2026 £3.245bn sale proceeds already in 31Jul cash; not future cashflows
5: market PER not used for terminal
6: future share grants, ex dates and repurchase prices remain estimates
7: 2036 assumed dividend right exists within modeled cohort; hypothetical ex and payment dates and amount are NOT confirmed by 2026 issuer primary sources. v1 omitted an asset, now corrected in terminal only; shareholder paid cashflow remains unchanged.
8: At 2036-11-06, terminal stock price is explicitly EX dividend and dividend liability has already been deducted from company stock value; do not credit corporate assets again when adding old-holder receivable.
9: v3: FY2026 GBP41m Lease payments contains financing interest per issuer accounting policy; old key lease_principal in historical 55 modeled annual rows is a legacy misnomer; new lease_cash_total metadata disaggregates only on proxy basis.
10: FY2026 GBP6m lease interest is reported P&L finance cost, NOT explicitly cash-interest amount; projecting it as GBP6m in 2037 and tax shield at scenario 24-26% is a conditional modeling assumption. Gross GBP41m cash treated as steady despite FY26 divestitures; no claim of management forecast.
11: Further audit limitation: annual-period net_finance_oku forecast (GBP12m negative baseline with cash adjustments) does not split lease interest; possible overlap with GBP41m all-in lease cash in annual NI-to-company-FCF cannot be excluded. All 55 annual period numbers deliberately preserved from v2 pending independent source-backed reconstruction.

check_results

内容を開く

pass

はい

cases

periods

events

454

expected_IRR_independent

0.036274467485

expected_pv_oku_independent

48.331060753631

expected_price_gbp_per_share

17.842451822

max_residual_by_metric

内容を開く

gross lease cash from primary 41m: 0
finance interest proxy 6/104*104: 0
lease principal assumption: 0
after-tax lease interest: 0
tax effect: 0
FCF from component P&L and cash: 1.0E-9
change from v2 FCF equals interest tax benefit: 0
terminal operating enterprise: 1.4706E-8
terminal company ex-div stock: 1.4706E-8
no lease second financial debt: 0
old holder terminal float fraction: 0
old stock residual: 1.4278E-8
recompute old-holder 2036 dividend receivable: 0
v2 right unchanged: 0
case terminal mcap_oku: 1.4278E-8
case terminal mcap: 1.4278E-8
old holder econ value: 1.4278E-8
date year: 0
period payouts do not change: 4.89E-10
XIRR root NPV residual: 0
individual IRR: 4.4E-11
case v3 PV: 6.03E-9
case v3 PV/share: 2.097E-9
case IRR residual: 0
weighted old terminal: 8.86E-10
weighted IRR: 2.0E-12
weighted PV: 3.73E-10
summary weighted IRR: 2.0E-12
summary weighted value: 3.73E-10
headline expected 1sh: 3.32E-10
2036 receivables exactly unchanged: 0
sensitivity PV 0.08: 4.0E-12
sensitivity price 0.08: 3.17E-10
sensitivity divright 0.08: 0
sensitivity safety margin 0.08: 0
sensitivity PV 0.09: 3.0E-12
sensitivity price 0.09: 4.71E-10
sensitivity divright 0.09: 0
sensitivity safety margin 0.09: 0
sensitivity PV 0.1: 2.0E-12
sensitivity price 0.1: 4.59E-10
sensitivity divright 0.1: 0
sensitivity safety margin 0.1: 0
sensitivity PV 0.11: 2.0E-12
sensitivity price 0.11: 1.54E-10
sensitivity divright 0.11: 0
sensitivity safety margin 0.11: 0

all_annual_ledger_prior_fields_numerically_identical_v2

はい

all_454_events_identical_v2

はい

assumed_ex_date_zero_event_preserved

はい

2036_post_horizon_payment_not_in_timed_cashflows

はい

2036_dividend_receivable_identical_v2

はい

2037_full_year_terminal_lease_adjustment_only

はい

no_104m_lease_liability_second_deduction

はい

all_in_41m_cash_and_6m_interest_not_double_deducted

はい

tax_effect_conditional_not_verified_with_issuer

はい

source_status_detail

confirmed_before_2026_11_06

FY2026 primary accounts, 2026 final 33.5p ex 2026-10-15; Nov 23 payment conditional on AGM; company 2026 events calendar. 2036 schedule is NOT primary data.

unverified_as_of_base_date

内容を開く

1: 2036 board declaration, ex date, record date and 2036-11-24 payment date
2: 2036 dividend rate/share, 2036 ex-date eligible shares, subsequent 2036 repurchases
3: exact 2026-11-06 fully settled issued shares, EBT and unreported own-share trades Nov5-Nov6
4: 2026-11-06 cash and buyback forward liabilities (opening amount is bridge estimate)
5: outcome and cash cost of planned legacy asbestos obligation transfer
6: future Flex-Tek non-core sales closing
7: 2037 full-calendar-year segment revenue and owner-CF forecasts
8: 2037 annual cash lease interest component, 2037 lease amortization schedule/new leases and cash rent; FY2026 GBP6m is finance expense not separately paid cash
9: tax jurisdiction deductibility and cash-tax relief for IFRS16 lease interest; scenario 2037 tax rates are assumptions

preserved_unverified_v1_cutoff_facts

はい

annual_ledger_finance_interest_overlap_not_resolved

Legacy 2027-2036 annual ledger net_finance_oku is a single modelled financing-income/expense aggregate, with no itemized lease-interest component. Because original annual core FCF starts after finance expense and uses an annual lease_principal_oku legacy proxy equal to ALL-IN GBP41m cash, overlap of this annual forecast finance aggregate with lease interest CANNOT be independently excluded. The user requested unchanged annual ledger; no unsupported retrofit was made. This uncertainty applies to annual-period company cash/holder events and must be separately revalidated if a full annual lease finance cash bridge is obtained. It does NOT invalidate the separate 2037 terminal EBIT-before-finance lease split tested here; that terminal starts with pre-finance EBIT and accounts for lease cash once.

追加データ・検証記録

分析ごとに収録された追加の前提、年度別データ、検証上の注意を確認できます。

追加データを開く →

分析に使用した資料

Smiths Group FY2026 annual report iXBRL as filed at FCA 2026-10-08
Smiths FY2026 results 2026-09-22
Smiths buyback RNS 8586B 2026-11-05
Smiths total voting rights at Oct 30 2026 RNS 2026-11-02
Smiths Oct 26-30 repurchases RNS 2026-11-02
Smiths FY2026 dividends and investor calendar 2026-09-22
Completion of Smiths Detection disposal to CVC 2026-06-30
Q3 FY2026 trading update 2026-05-21
175th anniversary global employee share award 2026-09-23
FT / Markit date-specific Smiths SMIN:LSE close 2026-11-06
LSE corporate bond listing 2027/2033 exact maturities 2026-11-06
LSE Smiths ordinary listing 2026-11-06
FY2026 FCA filed iXBRL: cash-flow p111, lease accounting policy p118-119, finance note 4 p126, borrowings note18 p143-144 2026-10-08

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