AI 銘柄分析 · 10年

United Utilities Group PLC

UU. · GBP · 分析基準日 2026-11-06

{ "title": "規制RCVは現金ではない。AMP8の料金・設備更新の成果と高投資負担を旧株主持分に反映", "rating": "valuation_derived_not_price_target", "quoted_price_gbp": 15.43, "scenario_expected_present_value_oku": 83.013637241, "scenario_expected_value_per_initial_share_gbp": 11.174809132, "expected_value_to_market_price": 0.724226127, "expected_10y_money_weighted_IRR": 0.044169078, "as_of_book_equity_status": "proxy", "core_uncertainty": "規制リオープナー最終決定と今後のPR29料金、更新・成長投資の回収、インフレリンク債、2026-11-06信託株数" }

10年期待年率4.42%

資本コスト8.50%

直近終値15.43 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

株価15.43 GBP・2026-11-06基準。2026年5月発行済普通株742,864,028株を代理値に使用し、基準日の従業員信託残高は未確認。将来配当・増資は予測で、想定イベント日以降は再分析が必要。サイトの終価割引は10年固定（実日数3653/365.25の約10.00137年との差は近似）。
分析基準日2026-11-06。株数は2026年5月5日の増資後の発行株数を代理値として使用し、当日の従業員信託保有株数は未確認。未宣言の配当額と権利落ち日は予測。予測イベント到来後は再分析が必要。
{
"investment_thesis": "北西イングランドで規制された水道・下水サービスを提供する必需事業。PR24により投資・料金回収の可視性は上がったが、支出超過、ODI、環境義務、資本希薄化が普通株の真の価値を左右する。",
"financing": "2026-05-05調達のネット£788mは基準日前の既実施資本流入。以後の調達はシナリオ仮定。",
"income_quality": "FY2026連結親会社利益はIFRS £586.8m。SBC £4.5mは費用のまま。FY2026 underlying EPSは会計見積変更・インフラ更新の資産計上による押上げがあるため永久利益に無修正で乗じない。",
"dividend_timing": "2026-08-03支払最終配当は基準日前に全額消化済み。2027-02-01次回予定は配当額未確定のためシナリオ予測。2026-12-17除権予定は配当宣言確認済みのex_dateとは区別。",
"regulatory_vs_ifrs": "RCVは規制料金・減価償却・許容リターン計算に用いる資産価値で株主現金でない。IFRS equity, net financial debt, regulatory gearing, RCVを同一金額として換算しない。",
"highest_priority_checks": [
"2026年11月6日実効普通株数（従業員信託残高・5月以降の新株）",
"2026年9月末未公表中間財務の実際の純負債・IFRS親会社資本",
"2026年12月Ofwatリオープナー最終結論",
"環境罰金・係争/投資義務・IFRSの引当計上時点",
"2030年以降PR29の新料金収益認定"
]
}

事業

geography

England North West

customer_base

約800万人／人口ベースの生活基盤

core

United Utilities Water Ltdの水道・下水卸売と家計小売

revenue_sources

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1: 水道卸売の規制料金
2: 下水卸売の規制料金
3: 家庭向けリテール料金
4: その他接続・工事関連収入

economic_characteristics

安定した顧客需要、長寿命資産、投資/料金はOfwat規制、環境処理性能を満たさないとODI減額・違反制裁。料金請求権はRCVが換金できることを意味しない。

regulatory_periods

1: AMP8 2025-04-01 to 2030-03-31
2: AMP9 2030-04-01 to 2035-03-31: future PR29 price control terms assumed not yet confirmed
3: AMP10 2035-04-01 onward: entirely forecast

allowed_revenue_mechanics

PR24を起点にallowed returns on nominalized RCV, RCV run-off, totex allowances, inflation, regulatory adjustments and ODIs; not all spending becomes RCV automatically.

inflation_linked_debt

FY26管理上RPI-linked債務エクスポージャ約£3.2bn、CPI/CPIH約£1.4bn。債務元本のインデクセーションは現金利払いと区別。FY26 EIR推計法変更が実績会計に影響。

competitive_position

地域独占型の管路インフラ、ネットワーク規模と水処理専門性。ただし顧客移転による競争ではなく、競争的調達、Ofwat効率比較、債券投資家の審査が規律する。

競争力・事業の質

sector_stability_score_0_to_5

4.1

regulatory_visibility_score_0_to_5

3.4

financial_flexibility_score_0_to_5

2.7

governance_and_environment_score_0_to_5

2.2

return_on_equity_caution

IFRS book equity is small relative to large long-lived RCV / debt financing. IFRS PAT/book equity is not a valid uncontested sustainable economic return or terminal market P/B anchor.

environmental_performance

FY26 storm spills declined 23% YoY, internal sewer flooding 42% down, but Ofwat estimate FY26 net ODI penalty ~£35m; future improvement targets binding.

enforcement_asof

verified_2026_09_08_fine_oku: 0.009
fine_legal_surcharge_total_oku: 0.00964225
further_ofwat_environment_investigation: 未確定の追加罰金額は特定不能。モデルではシナリオ期待負担として費用計上;実際の確定負債ではない。

accounting_quality

FY2026 IRE capitalisation and debt EIR methodology change affected underlying comparability; forecast IFRS profit explicitly contains employee SBC expense and noncash bond indexation.

業界と環境

regulator

Ofwat (UK water England/Wales)

price_review

PR24 final December 2024, 2025-30

allowed_appointee_WACC_CPIH_real

0.0403

regulatory_notional_debt_fraction

0.55

ofwat_pr24_total_TOTEX_allowance_oku

130

company_new_AMP8_capital_investment_guidance_oku

115

FY2027_company_capital_investment_guidance_oku

2026_cost_change_DRAFT_in_2022_23_prices_oku

9.58

2026_company_cost_change_response_in_2022_23_prices_oku

10.26

management_incremental_reopener_AMP8_capex_oku

cost_change_final_decision_due

2026-12 (after valuation cutoff; not assumed approved)

environmental_PR24_targets

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storm_overflows_spill_reduction: 0.33
pollution_incidents_reduction: 0.3
leakage_reduction: 0.13
internal_sewer_flooding_reduction: 0.4
water_quality_contacts_reduction: 0.34

risk_drivers

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1: PR29再設定と利回り低下
2: RPI/CPIHと規制料金回収ラグ
3: 設備建設コストとサプライチェーン
4: 過剰流出や河川環境規制/罰金
5: 資本増資と配当制限
6: 定率維持投資と資産劣化
7: Water Plus事業持分損失・保証

財務・資本配分

latest_financials_source

fy26_preliminary

latest_audited_report_disclosed

2026-06-24 FY26 full report; exact detailed re-audit of preliminary table uncompleted

fy2026_as_reported

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fiscal_year_end

2026-03-31

売上高

26.163

cash_operating_expense_including_sbc_oku

9.783

infrastructure_renewal_expense_oku

0.381

depreciation_and_amortization_oku

5.005

営業利益（億）

10.994

net_finance_expense_oku

3.158

equity_accounted_jv_loss_oku

0.046

profit_before_tax_oku

7.79

tax_expense_oku

1.922

attributable_profit_oku

5.868

親会社持分（億）

22.414

total_equity_oku

22.414

noncontrolling_interest_oku

cash_and_equivalents_oku

17.943

current_borrowings_oku

1.649

non_current_borrowings_oku

113.257

gross_borrowings_oku

114.906

regulatory_net_debt_oku

99.43

ifrs_net_debt_reported_oku

96.58

adjusted_rcv_oku

165.27

capital_investment_regulatory_oku

15.251

ppe_cash_purchases_oku

14.921

reported_cfo_oku

13.819

equity_settled_sbc_charge_oku

0.045

employee_share_purchases_for_options_oku

0.058

paid_dividends_oku

3.576

dividends_per_share_pence

53.66

interim_paid_pence

17.88

final_paid_pence

35.78

historical_revenue_by_service_oku

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wholesale_clean_water: 10.739
wholesale_wastewater: 13.626
household_retail: 1.36
other: 0.438

FY2026_equity_changes_oku

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opening_2025_03_31: 19.999
attributable_pat_after_sbc: 5.868
other_comprehensive_income: 0.132
dividends_paid: -3.576
sbc_equity_settled_credit: 0.045
shares_bought_for_options_market: -0.058
share_forfeiture_receipts: 0.004
ending_2026_03_31: 22.414
check_residual: 0

reported_2026_March_balance_sheet

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ifrs_book_equity_oku: 22.414
noncontrolling_interest_oku: 0
gross_borrowings_oku: 114.906
cash_and_equivalents_oku: 17.943
simple_gross_borrowings_minus_cash_oku: 96.963
reported_IFRS_net_debt_oku: 96.58
management_rcv_gearing_debt_oku: 99.43
adjusted_rcv_oku: 165.27
regulatory_gearing: 0.601621589
reported_income_statement_tax_oku: 1.922
loan_and_hedge_fair_value_reconciliation_not_fully_traceable: はい
warning: IFRS net debt, debt less cash, and regulatory net debt follow different definitions. No automatic substitution.

ordinary_and_deferred_share_structure

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ordinary_as_of_2026_05_05: 742864028
deferred_share_class_count: 273956180
deferred_share_class_not_valued_as_ordinary: はい
shares_in_employee_trust_at_2026_11_06: 未確認
company_treasury_as_of_2026_05_05: 0

dividend_history_and_cutoff

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period: FY2025/26 interim
per_share_pence: 17.88
ex_date: 2025-12-18
payment_date: 2026-02-02
after_valuation_cutoff: いいえ
included_forecast_CF: いいえ

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period: FY2025/26 final
per_share_pence: 35.78
ex_date: 2026-06-25
payment_date: 2026-08-03
after_valuation_cutoff: いいえ
included_forecast_CF: いいえ

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period: FY2026/27 interim
per_share_pence: 未確認
ex_date: 未確認
scheduled_ex_date: 2026-12-17
scheduled_payment_date: 2027-02-01
after_valuation_cutoff: はい
included_forecast_CF: amount estimated in all five cases

buyback_policy_and_sbc

No ordinary corporate share repurchase forecast. Employee benefit trust historically buys issued shares on market to satisfy equity awards. Share purchase is company cash outflow and transfer can dilute original holders without company share cancellation. IFRS2 expense remains in profit and noncash equity credit reverses expense in statement of changes in equity.

2026_11_06_opening_proxy_bridge

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period

2026-04-01 to 2026-11-06

days

220

状態

推計・代理値。2026年9月末中間決算は11月12日発表予定のため2026-11-06時点で利用不可

from_2026_03_31

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親会社持分（億）: 22.414
regulatory_net_debt_oku: 99.43
adjusted_rcv_oku: 165.27
ordinary_shares: 681888418

verified_event_2026_05_05

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new_ordinary_shares: 60975610
price_gbp: 13.12
gross_proceeds_oku: 8
net_proceeds_oku: 7.88
post_issue_ordinary_shares: 742864028
company_treasury_shares: 0
last_verified_count_date: 2026-07-17

verified_final_dividend_paid_2026_08_03

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cash_outflow_oku: 2.657967492
per_share_gbp: 0.3578
ex_date: 2026-06-25
from_march_equity_dividend_liability: 2026-03-31未認識。会社決算注記9に従い承認後に控除

assumed_profit_before_september_court_fine_oku

3.495890411

recognized_september_2026_court_fine_assumed_paid_oku

0.00964225

assumed_profit_after_court_fine_oku

3.486248161

court_fine_cash_settlement_unverified

はい

assumed_equity_sbc_credit_oku

0.027123288

assumed_employee_share_market_purchases_oku

0.034958904

assumed_OCI_oku

assumed_capex_cash_oku

12.054794521

assumed_depreciation_oku

3.315068493

assumed_indexation_oku

0.560547945

assumed_deferred_tax_noncash_oku

0.693150685

assumed_working_capital_cash_deduction_oku

0.120547945

assumed_cfo_oku

7.971232877

estimated_as_of_parent_equity_oku

31.114445052

estimated_as_of_regulatory_style_net_debt_oku

98.896678235

estimated_as_of_adjusted_rcv_oku

173.242046575

estimated_as_of_issued_ordinary_shares

742864028

estimated_as_of_treasury_shares

employee_trust_ordinary_shares_as_of

未確認

old_cohort_model_initial_shares

742864028

audit_equity_residual_oku

audit_debt_residual_oku

warning

FY2027途中の実績ではない。投資CFと資本の整合はモデル仮定内に限る。2026-09-08確定罰金の支払日は不明のため基準日までに現金決済したと仮定。社員信託の正確な基準日保有株数は未確認。

model_principal_indexation_vs_cash_interest

Each modeled period accounts IFRS finance expense as cash interest + noncash inflation-linked principal indexation, adds noncash finance to CFO, and separately increases debt principal. Forecast nominalized cash cost not directly pegged to Ofwat CPIH-real allowance.

future_primary_issuance_policy

If regulatory-style debt/RCV ratio exceeds 65%, hypothetical outside funding moves to 62-63% target as set by scenario, issued on November 1 of each anniversary year. Proceeds recognized in company equity and lower net debt, shares issued to non-cohort investors; zero cash payment by old cohort.

評価の前提と確認

quoted_P_E_not_used

はい

quoted_P_B_not_used

はい

RCV_minus_debt_not_equated_to_equity_share_value

はい

terminal_method

Discount future share-cohort dividends and proportional employee-trust tender proceeds; whole-company terminal FCFE derived from post-SBC sustainable PAT, retention for economic growth, uncovered maintenance capex, k and g; multiply by original cohort surviving shares / future ordinary issued; discount terminal at exact anniversary day count.

terminal_valuation_equations

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1: PAT_t = gross_regulatory_revenue - ODI - cash_opex - IRE - depreciation - SBC - environmental_fines - (cash_interest+noncash_indexation) - JVloss - IFRS_tax
2: FCFE_sustainable = max(0, PAT_normalized*(1 - g/normalized_economic_equity_ROE) - max(0, maintenance_capex - depreciation - maintenance_funding_recovery))
3: V_whole_2036_11_06 = FCFE_sustainable*(1+g)/(k-g)
4: V_old_2036_11_06 = V_whole_2036_11_06 * (remaining_original_cohort_shares / issued_ordinary_shares)
5: PV_old = sum(event.amount/(1+k)^((date-2026-11-06)/365.25)) + V_old/(1+k)^((2036-11-06 - 2026-11-06)/365.25)
6: IRR = root PV_old(IRR) - initial_cohort_purchase_cost_oku = 0

no_cash_added_for_non_cash_sbc

はい

historical_aug_2026_final_not_in_future_receipts

はい

all_5_scenarios_use_same_nominal_k

0.085

valuation_horizon_days

3653

year_count

actual days / 365.25; 2036-11-06 corresponds to 3653/365.25 years, not 10 exactly under convention

reinvestment_and_maintenance_policy

Terminal profit is AFTER routine operating costs, depreciation, SBC and financing. Deduct additional maintenance cash capex not supported by depreciation or explicit maintenance recovery separately; retain equity for terminal growth to avoid assuming growth without funds.

price_sensitivity_base_case

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資本コスト: 7.50%
g: 0.02
old_holder_PV_oku: 102.356585657
per_initial_share_gbp: 13.778643439

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資本コスト: 7.50%
g: 0.025
old_holder_PV_oku: 106.532515484
per_initial_share_gbp: 14.340782629

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資本コスト: 7.50%
g: 0.03
old_holder_PV_oku: 111.602777665
per_initial_share_gbp: 15.023311597

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資本コスト: 8.50%
g: 0.02
old_holder_PV_oku: 85.149822611
per_initial_share_gbp: 11.462369882

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資本コスト: 8.50%
g: 0.025
old_holder_PV_oku: 87.514681672
per_initial_share_gbp: 11.780713344

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資本コスト: 8.50%
g: 0.03
old_holder_PV_oku: 90.284416874
per_initial_share_gbp: 12.153558857

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資本コスト: 9.50%
g: 0.02
old_holder_PV_oku: 72.680717698
per_initial_share_gbp: 9.783852086

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資本コスト: 9.50%
g: 0.025
old_holder_PV_oku: 74.067074135
per_initial_share_gbp: 9.970475261

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資本コスト: 9.50%
g: 0.03
old_holder_PV_oku: 75.647341111
per_initial_share_gbp: 10.183201536

limitations

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1: annual trust share movements not disclosed as of 2026-11-06
2: severe scenario could trigger dividends restrictions not contractually modeled
3: no access to full audited FY26 annual report pages for reconciliation beyond preliminary report
4: 10-year regulatory and capital expenditures highly forecast-dependent
5: not a guarantee of Ofwat reopeners or permitted shareholder distributions

資本コストの前提

資本コスト: 8.50%
basis: nominal GBP shareholder equity hurdle, fixed across five scenarios; Ofwat CPIH-real WACC 4.03% is a regulated asset allowance, not equity discount rate
k_policy: Based on 5.1% CPIH-real regulatory allowed CoE compounded with 3.0% CPIH => 8.253%, plus approximate 0.25pp company funding / environment / governance buffer rounded to 8.5%. Neither a quoted market PER nor implied PBR.
allowed_regulated_cost_of_equity_CPIH_real: 0.051
regulated_appointee_allowed_WACC_CPIH_real: 0.0403
notional_gearing_ofwat: 0.55
inflation_for_k_bridge: 0.03
cpi_nominalized_roe_reference: 0.08253
additional_company_specific_risk_premium: 0.00247

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	10.0%	49.85	331.05
強気	20.0%	48.94	223.68
標準	40.0%	47.81	125.83
弱気	20.0%	24.12	0.00
深刻な下方	10.0%	2.27	0.00

非常に強気（確率 10.0%）

追加投資が効率的に規制収益化され、損失・ODIが小さい。

確率の根拠

将来の規制・設備投資・資金調達を考慮した分析上の仮定。

このシナリオの数値・キャッシュフローを開く →

強気（確率 20.0%）

料金・支出効率が良好でODI負担が縮小。

確率の根拠

将来の規制・設備投資・資金調達を考慮した分析上の仮定。

事業別の前提

内容を開く

id: regulated_water
数量: 1
価格・単価: 52.170339765
売上換算係数: 1
売上高: 52.170339765
営業利益: 27.543578215
注記: 連結事業。年次モデルの最終1年値。

日付別キャッシュフロー

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year: 0.11225188227242
想定日: 2026-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 0.238193018
想定日: 2027-02-01
金額: 1.375288937

year: 0.479123888
想定日: 2027-04-30
金額: 0.058

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year: 0.63244353182752
想定日: 2027-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 0.739219713
想定日: 2027-08-03
金額: 2.749239606

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year: 1.1115674195756
想定日: 2027-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 1.237508556
想定日: 2028-02-01
金額: 1.422731496

year: 1.475701574
想定日: 2028-04-28
金額: 0.059710934

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year: 1.6290212183436
想定日: 2028-06-23
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 1.741273101
想定日: 2028-08-03
金額: 2.844091869

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year: 2.1081451060917
想定日: 2028-12-15
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 2.239561944
想定日: 2029-02-01
金額: 1.471817542

year: 2.480492813
想定日: 2029-04-30
金額: 0.061472626

内容を開く

year: 2.6338124572211
想定日: 2029-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 2.740588638
想定日: 2029-08-03
金額: 2.942230296

内容を開く

year: 3.1129363449692
想定日: 2029-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 3.238877481
想定日: 2030-02-01
金額: 1.522604178

year: 3.47980835
想定日: 2030-04-30
金額: 0.063286589

内容を開く

year: 3.6331279945243
想定日: 2030-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 3.745379877
想定日: 2030-08-05
金額: 3.043769067

内容を開く

year: 4.1122518822724
想定日: 2030-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 4.24366872
想定日: 2031-02-03
金額: 1.575150492

year: 4.479123888
想定日: 2031-04-30
金額: 0.065154377

内容を開く

year: 4.6324435318275
想定日: 2031-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 4.741957563
想定日: 2031-08-04
金額: 3.148826341

内容を開く

year: 5.1115674195756
想定日: 2031-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 5.240246407
想定日: 2032-02-02
金額: 1.629517631

year: 5.481177276
想定日: 2032-04-30
金額: 0.067077595

内容を開く

year: 5.6344969199179
想定日: 2032-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 5.741273101
想定日: 2032-08-03
金額: 3.25752439

内容を開く

year: 6.113620807666
想定日: 2032-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 6.239561944
想定日: 2033-02-01
金額: 1.685768872

year: 6.477754962
想定日: 2033-04-29
金額: 0.069057893

内容を開く

year: 6.6310746064339
想定日: 2033-06-24
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 6.740588638
想定日: 2033-08-03
金額: 3.369989744

内容を開く

year: 7.1101984941821
想定日: 2033-12-16
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 7.238877481
想定日: 2034-02-01
金額: 1.743969693

year: 7.474332649
想定日: 2034-04-28
金額: 0.071096972

内容を開く

year: 7.62765229295
想定日: 2034-06-23
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 7.739904175
想定日: 2034-08-03
金額: 3.48635334

内容を開く

year: 8.1067761806982
想定日: 2034-12-15
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 8.238193018
想定日: 2035-02-01
金額: 1.804187854

year: 8.479123888
想定日: 2035-04-30
金額: 0.073196581

内容を開く

year: 8.6324435318275
想定日: 2035-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 8.739219713
想定日: 2035-08-03
金額: 3.606750674

内容を開く

year: 9.1115674195756
想定日: 2035-12-17
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 9.237508556
想定日: 2036-02-01
金額: 1.866493474

year: 9.481177276
想定日: 2036-04-30
金額: 0.075358526

内容を開く

year: 9.6344969199179
想定日: 2036-06-25
金額: 0
種類: forecast_review_gate
注記: 予測権利落ち日または希薄化イベント。実施と金額を確認し再分析する。

year: 9.744010951
想定日: 2036-08-04
金額: 3.731321961

その他の数値・前提

thesis

料金・支出効率が良好でODI負担が縮小。

forecast_assumptions

内容を開く

状態: model_assumptions_not_company_guidance
initial_gross_revenue_oku: 29.15
revenue_growth_early: 0.091
revenue_growth_late: 0.055
operating_cost_first_year_oku: 10.52
operating_cost_growth_early: 0.037
operating_cost_growth_late: 0.03
inflation_assumption_CPIH: 0.027
cash_financing_rate_on_opening_net_debt: 0.025
index_linked_share_of_debt_proxy_at_start: 0.46
index_linked_share_of_debt_target_from_anniversary_5: 0.33
capex_multiplier_vs_common_schedule: 0.995
rcv_eligible_capex_fraction: 0.68
annual_rcv_runoff_assumed: 0.026
regulatory_max_gearing_trigger: 0.65
post_issue_target_gearing: 0.63
environmental_fine_first_year_oku: 0.008
revenue_odi_penalty_first_year_oku: 0.035
first_anniversary_year_dps_target_gbp: 0.5554
later_dividend_target_growth: 0.035
dividend_cap_as_multiple_of_same_period_positive_profit: 1.4
future_employee_trust_share_purchase_market_price_growth_assumed: 0.04
model_employee_trust_purchase_and_delivery_same_period: はい
corporate_share_buybacks_assumed: 0
book_OCI_assumed: 0

annual_ledger

内容を開く

anniversary_year

period_start

2026-11-06

期間末

2027-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 29.15
negative_odi_revenue_adjustment: -0.035
revenue: 29.115
cash_operating_cost_excluding_sbc_and_ire: 10.52
infrastructure_renewal_expense: 0.4
sbc_expense_included_in_pat: 0.05
depreciation_and_amortization: 5.7
environmental_legal_compliance_fines_expense: 0.008
operating_profit: 12.437
cash_finance_interest_expense: 2.472416956
assumed_index_linked_fraction_of_debt: 0.434
noncash_indexation_finance_expense: 1.158871276
total_finance_expense: 3.631288231
share_of_jv_loss: 0.045
profit_before_tax: 8.760711769
income_tax_expense: 2.190177942
parent_attributable_ifrs_profit_after_sbc: 6.570533826
noncontrolling_profit: 0
total_profit_after_tax: 6.570533826

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 173.242046575
cpi_indexation_net_of_regulatory_runoff: 0.173242047
cash_capex: 21.89
maintenance_replacement_capex_assumed: 11.6017
growth_and_compliance_capex_assumed: 10.2883
qualified_rcv_capex_addition_proxy: 14.8852
rcv_end_adjusted: 188.300488622
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 14.738726103
noncash_financing_indexation_in_CFO_reconciliation: 1.158871276
deferred_tax_non_cash_added_back: 1.489321001
working_capital_cash_deduction: 0.23
regulatory_style_net_debt_begin: 98.896678235
cash_capex: 21.89
dividends_paid_company_wide: 4.125866812
employee_trust_market_purchase_cash: 0.058
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.158871276
regulatory_style_net_debt_end: 111.39069022
gearing_end_net_debt_over_adjusted_rcv: 0.591558158

ordinary_parent_equity_oku

内容を開く

begin: 31.114445052
parent_profit_after_sbc: 6.570533826
ifrs2_non_cash_sbc_equity_credit: 0.05
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.125866812
employee_trust_purchase_equity_reduction: 0.058
assumed_other_comprehensive_income: 0
end: 33.551112067

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 361433.77037739
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 742864028
old_cohort_sold_to_employee_trust: 361433.77037739
old_cohort_owned_end: 742502594.22962
old_cohort_fraction_begin: 1
old_cohort_fraction_end: 0.999513459
employee_market_purchase_unit_price_gbp: 16.0472
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.375288937
final_dividend: 2.749239606
pro_rata_tender_to_employee_trust: 0.058
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.182528543

company_cash_returns_oku

内容を開く

interim_dividend: 1.375288937
final_dividend: 2.750577874
target_dps_gbp_before_profit_restriction: 0.5554
actual_scenario_dps_gbp_after_profit_restriction: 0.5554
employee_trust_market_purchases_not_corporate_buybacks: 0.058
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2027-11-06

期間末

2028-11-06

period_days

366

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 31.80265
negative_odi_revenue_adjustment: -0.035
revenue: 31.76765
cash_operating_cost_excluding_sbc_and_ire: 10.90924
infrastructure_renewal_expense: 0.408
sbc_expense_included_in_pat: 0.0515
depreciation_and_amortization: 6.156
environmental_legal_compliance_fines_expense: 0.008
operating_profit: 14.23491
cash_finance_interest_expense: 2.784767255
assumed_index_linked_fraction_of_debt: 0.408
noncash_indexation_finance_expense: 1.227079843
total_finance_expense: 4.011847099
share_of_jv_loss: 0.045
profit_before_tax: 10.178062901
income_tax_expense: 2.544515725
parent_attributable_ifrs_profit_after_sbc: 7.633547176
noncontrolling_profit: 0
total_profit_after_tax: 7.633547176

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 188.300488622
cpi_indexation_net_of_regulatory_runoff: 0.188300489
cash_capex: 25.87
maintenance_replacement_capex_assumed: 13.7111
growth_and_compliance_capex_assumed: 12.1589
qualified_rcv_capex_addition_proxy: 17.5916
rcv_end_adjusted: 206.080389111
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 16.561497712
noncash_financing_indexation_in_CFO_reconciliation: 1.227079843
deferred_tax_non_cash_added_back: 1.730270693
working_capital_cash_deduction: 0.2369
regulatory_style_net_debt_begin: 111.39069022
cash_capex: 25.87
dividends_paid_company_wide: 4.27027215
employee_trust_market_purchase_cash: 0.05974
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.227079843
regulatory_style_net_debt_end: 126.256284501
gearing_end_net_debt_over_adjusted_rcv: 0.612655503

ordinary_parent_equity_oku

内容を開く

begin: 33.551112067
parent_profit_after_sbc: 7.633547176
ifrs2_non_cash_sbc_equity_credit: 0.0515
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.27027215
employee_trust_purchase_equity_reduction: 0.05974
assumed_other_comprehensive_income: 0
end: 36.906147093

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 357958.44566222
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 742502594.22962
old_cohort_sold_to_employee_trust: 357784.28421978
old_cohort_owned_end: 742144809.9454
old_cohort_fraction_begin: 0.999513459
old_cohort_fraction_end: 0.999031831
employee_market_purchase_unit_price_gbp: 16.689088
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.422731496
final_dividend: 2.844091869
pro_rata_tender_to_employee_trust: 0.059710934
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.326534299

company_cash_returns_oku

内容を開く

interim_dividend: 1.42342405
final_dividend: 2.8468481
target_dps_gbp_before_profit_restriction: 0.574839
actual_scenario_dps_gbp_after_profit_restriction: 0.574839
employee_trust_market_purchases_not_corporate_buybacks: 0.05974
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2028-11-06

期間末

2029-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 34.69669115
negative_odi_revenue_adjustment: -0.035
revenue: 34.66169115
cash_operating_cost_excluding_sbc_and_ire: 11.31288188
infrastructure_renewal_expense: 0.41616
sbc_expense_included_in_pat: 0.053045
depreciation_and_amortization: 6.64848
environmental_legal_compliance_fines_expense: 0.008
operating_profit: 16.22312427
cash_finance_interest_expense: 3.156407113
assumed_index_linked_fraction_of_debt: 0.382
noncash_indexation_finance_expense: 1.302207318
total_finance_expense: 4.458614431
share_of_jv_loss: 0.045
profit_before_tax: 11.719509839
income_tax_expense: 2.92987746
parent_attributable_ifrs_profit_after_sbc: 8.789632379
noncontrolling_profit: 0
total_profit_after_tax: 8.789632379

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 206.080389111
cpi_indexation_net_of_regulatory_runoff: 0.206080389
cash_capex: 25.87
maintenance_replacement_capex_assumed: 13.7111
growth_and_compliance_capex_assumed: 12.1589
qualified_rcv_capex_addition_proxy: 17.5916
rcv_end_adjusted: 223.8780695
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 18.54167437
noncash_financing_indexation_in_CFO_reconciliation: 1.302207318
deferred_tax_non_cash_added_back: 1.992316673
working_capital_cash_deduction: 0.244007
regulatory_style_net_debt_begin: 126.256284501
cash_capex: 25.87
dividends_paid_company_wide: 4.419731675
employee_trust_market_purchase_cash: 0.0615322
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.302207318
regulatory_style_net_debt_end: 139.368081324
gearing_end_net_debt_over_adjusted_rcv: 0.622517791

ordinary_parent_equity_oku

内容を開く

begin: 36.906147093
parent_profit_after_sbc: 8.789632379
ifrs2_non_cash_sbc_equity_credit: 0.053045
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.419731675
employee_trust_purchase_equity_reduction: 0.0615322
assumed_other_comprehensive_income: 0
end: 41.267560597

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 354516.53753085
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 742144809.9454
old_cohort_sold_to_employee_trust: 354173.30554649
old_cohort_owned_end: 741790636.63986
old_cohort_fraction_begin: 0.999031831
old_cohort_fraction_end: 0.998555063
employee_market_purchase_unit_price_gbp: 17.35665152
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.471817542
final_dividend: 2.942230296
pro_rata_tender_to_employee_trust: 0.061472626
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.475520464

company_cash_returns_oku

内容を開く

interim_dividend: 1.473243892
final_dividend: 2.946487783
target_dps_gbp_before_profit_restriction: 0.594958365
actual_scenario_dps_gbp_after_profit_restriction: 0.594958365
employee_trust_market_purchases_not_corporate_buybacks: 0.0615322
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2029-11-06

期間末

2030-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 37.854090045
negative_odi_revenue_adjustment: -0.035
revenue: 37.819090045
cash_operating_cost_excluding_sbc_and_ire: 11.73145851
infrastructure_renewal_expense: 0.4244832
sbc_expense_included_in_pat: 0.05463635
depreciation_and_amortization: 7.1803584
environmental_legal_compliance_fines_expense: 0.008
operating_profit: 18.420153585
cash_finance_interest_expense: 3.484202033
assumed_index_linked_fraction_of_debt: 0.356
noncash_indexation_finance_expense: 1.339605998
total_finance_expense: 4.823808031
share_of_jv_loss: 0.02
profit_before_tax: 13.576345554
income_tax_expense: 3.394086389
parent_attributable_ifrs_profit_after_sbc: 10.182259166
noncontrolling_profit: 0
total_profit_after_tax: 10.182259166

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 223.8780695
cpi_indexation_net_of_regulatory_runoff: 0.223878069
cash_capex: 22.885
maintenance_replacement_capex_assumed: 12.12905
growth_and_compliance_capex_assumed: 10.75595
qualified_rcv_capex_addition_proxy: 15.5618
rcv_end_adjusted: 239.663747569
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 20.813511448
noncash_financing_indexation_in_CFO_reconciliation: 1.339605998
deferred_tax_non_cash_added_back: 2.307978744
working_capital_cash_deduction: 0.25132721
regulatory_style_net_debt_begin: 139.368081324
cash_capex: 22.885
dividends_paid_company_wide: 4.574422284
employee_trust_market_purchase_cash: 0.063378166
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.339605998
regulatory_style_net_debt_end: 147.416976324
gearing_end_net_debt_over_adjusted_rcv: 0.615099187

ordinary_parent_equity_oku

内容を開く

begin: 41.267560597
parent_profit_after_sbc: 10.182259166
ifrs2_non_cash_sbc_equity_credit: 0.05463635
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.574422284
employee_trust_purchase_equity_reduction: 0.063378166
assumed_other_comprehensive_income: 0
end: 46.866655663

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 351107.72466998
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 741790636.63986
old_cohort_sold_to_employee_trust: 350600.39629771
old_cohort_owned_end: 741440036.24356
old_cohort_fraction_begin: 0.998555063
old_cohort_fraction_end: 0.998083106
employee_market_purchase_unit_price_gbp: 18.050917581
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.522604178
final_dividend: 3.043769067
pro_rata_tender_to_employee_trust: 0.063286589
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.629659833

company_cash_returns_oku

内容を開く

interim_dividend: 1.524807428
final_dividend: 3.049614856
target_dps_gbp_before_profit_restriction: 0.615781908
actual_scenario_dps_gbp_after_profit_restriction: 0.615781908
employee_trust_market_purchases_not_corporate_buybacks: 0.063378166
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2030-11-06

期間末

2031-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 39.936064997
negative_odi_revenue_adjustment: -0.0245
revenue: 39.911564997
cash_operating_cost_excluding_sbc_and_ire: 12.083402265
infrastructure_renewal_expense: 0.432972864
sbc_expense_included_in_pat: 0.056275441
depreciation_and_amortization: 7.596819187
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 19.737295241
cash_finance_interest_expense: 3.685424408
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.313485259
total_finance_expense: 4.998909667
share_of_jv_loss: 0.02
profit_before_tax: 14.718385573
income_tax_expense: 3.679596393
parent_attributable_ifrs_profit_after_sbc: 11.03878918
noncontrolling_profit: 0
total_profit_after_tax: 11.03878918

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 239.663747569
cpi_indexation_net_of_regulatory_runoff: 0.239663748
cash_capex: 19.9
maintenance_replacement_capex_assumed: 10.547
growth_and_compliance_capex_assumed: 9.353
qualified_rcv_capex_addition_proxy: 13.532
rcv_end_adjusted: 253.435411317
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 21.512708309
noncash_financing_indexation_in_CFO_reconciliation: 1.313485259
deferred_tax_non_cash_added_back: 1.766206269
working_capital_cash_deduction: 0.258867026
regulatory_style_net_debt_begin: 147.416976324
cash_capex: 19.9
dividends_paid_company_wide: 4.734527064
employee_trust_market_purchase_cash: 0.065279511
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.313485259
regulatory_style_net_debt_end: 151.917559848
gearing_end_net_debt_over_adjusted_rcv: 0.599433043

ordinary_parent_equity_oku

内容を開く

begin: 46.866655663
parent_profit_after_sbc: 11.03878918
ifrs2_non_cash_sbc_equity_credit: 0.056275441
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.734527064
employee_trust_purchase_equity_reduction: 0.065279511
assumed_other_comprehensive_income: 0
end: 53.161913709

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 347731.68885584
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 741440036.24356
old_cohort_sold_to_employee_trust: 347065.12399374
old_cohort_owned_end: 741092971.11956
old_cohort_fraction_begin: 0.998083106
old_cohort_fraction_end: 0.997615907
employee_market_purchase_unit_price_gbp: 18.772954284
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.575150492
final_dividend: 3.148826341
pro_rata_tender_to_employee_trust: 0.065154377
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.78913121

company_cash_returns_oku

内容を開く

interim_dividend: 1.578175688
final_dividend: 3.156351376
target_dps_gbp_before_profit_restriction: 0.637334275
actual_scenario_dps_gbp_after_profit_restriction: 0.637334275
employee_trust_market_purchases_not_corporate_buybacks: 0.065279511
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2031-11-06

期間末

2032-11-06

period_days

366

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 42.132548572
negative_odi_revenue_adjustment: -0.0245
revenue: 42.108048572
cash_operating_cost_excluding_sbc_and_ire: 12.445904333
infrastructure_renewal_expense: 0.441632321
sbc_expense_included_in_pat: 0.057963704
depreciation_and_amortization: 8.0374347
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 21.120313514
cash_finance_interest_expense: 3.797938996
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.353585458
total_finance_expense: 5.151524454
share_of_jv_loss: 0.02
profit_before_tax: 15.94878906
income_tax_expense: 3.987197265
parent_attributable_ifrs_profit_after_sbc: 11.961591795
noncontrolling_profit: 0
total_profit_after_tax: 11.961591795

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 253.435411317
cpi_indexation_net_of_regulatory_runoff: 0.253435411
cash_capex: 19.9
maintenance_replacement_capex_assumed: 10.547
growth_and_compliance_capex_assumed: 9.353
qualified_rcv_capex_addition_proxy: 13.532
rcv_end_adjusted: 267.220846728
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 23.057797307
noncash_financing_indexation_in_CFO_reconciliation: 1.353585458
deferred_tax_non_cash_added_back: 1.913854687
working_capital_cash_deduction: 0.266633037
regulatory_style_net_debt_begin: 151.917559848
cash_capex: 19.9
dividends_paid_company_wide: 4.900235511
employee_trust_market_purchase_cash: 0.067237896
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.353585458
regulatory_style_net_debt_end: 155.080821407
gearing_end_net_debt_over_adjusted_rcv: 0.580347017

ordinary_parent_equity_oku

内容を開く

begin: 53.161913709
parent_profit_after_sbc: 11.961591795
ifrs2_non_cash_sbc_equity_credit: 0.057963704
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 4.900235511
employee_trust_purchase_equity_reduction: 0.067237896
assumed_other_comprehensive_income: 0
end: 60.2139958

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 344388.11492454
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 741092971.11956
old_cohort_sold_to_employee_trust: 343567.06165303
old_cohort_owned_end: 740749404.05791
old_cohort_fraction_begin: 0.997615907
old_cohort_fraction_end: 0.997153417
employee_market_purchase_unit_price_gbp: 19.523872455
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.629517631
final_dividend: 3.25752439
pro_rata_tender_to_employee_trust: 0.067077595
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 4.954119616

company_cash_returns_oku

内容を開く

interim_dividend: 1.633411837
final_dividend: 3.266823674
target_dps_gbp_before_profit_restriction: 0.659640974
actual_scenario_dps_gbp_after_profit_restriction: 0.659640974
employee_trust_market_purchases_not_corporate_buybacks: 0.067237896
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2032-11-06

期間末

2033-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 44.449838743
negative_odi_revenue_adjustment: -0.0245
revenue: 44.425338743
cash_operating_cost_excluding_sbc_and_ire: 12.819281463
infrastructure_renewal_expense: 0.450464968
sbc_expense_included_in_pat: 0.059702615
depreciation_and_amortization: 8.503605913
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 22.587483785
cash_finance_interest_expense: 3.877020535
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.381770119
total_finance_expense: 5.258790654
share_of_jv_loss: 0.02
profit_before_tax: 17.308693132
income_tax_expense: 4.327173283
parent_attributable_ifrs_profit_after_sbc: 12.981519849
noncontrolling_profit: 0
total_profit_after_tax: 12.981519849

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 267.220846728
cpi_indexation_net_of_regulatory_runoff: 0.267220847
cash_capex: 20.3975
maintenance_replacement_capex_assumed: 10.810675
growth_and_compliance_capex_assumed: 9.586825
qualified_rcv_capex_addition_proxy: 13.8703
rcv_end_adjusted: 281.358367575
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 24.729009642
noncash_financing_indexation_in_CFO_reconciliation: 1.381770119
deferred_tax_non_cash_added_back: 2.077043176
working_capital_cash_deduction: 0.274632028
regulatory_style_net_debt_begin: 155.080821407
cash_capex: 20.3975
dividends_paid_company_wide: 5.071743754
employee_trust_market_purchase_cash: 0.069255033
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.381770119
regulatory_style_net_debt_end: 157.27208067
gearing_end_net_debt_over_adjusted_rcv: 0.558974244

ordinary_parent_equity_oku

内容を開く

begin: 60.2139958
parent_profit_after_sbc: 12.981519849
ifrs2_non_cash_sbc_equity_credit: 0.059702615
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 5.071743754
employee_trust_purchase_equity_reduction: 0.069255033
assumed_other_comprehensive_income: 0
end: 68.114219477

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 341076.69074257
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 740749404.05791
old_cohort_sold_to_employee_trust: 340105.78771167
old_cohort_owned_end: 740409298.2702
old_cohort_fraction_begin: 0.997153417
old_cohort_fraction_end: 0.996695587
employee_market_purchase_unit_price_gbp: 20.304827354
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.685768872
final_dividend: 3.369989744
pro_rata_tender_to_employee_trust: 0.069057893
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 5.124816509

company_cash_returns_oku

内容を開く

interim_dividend: 1.690581251
final_dividend: 3.381162503
target_dps_gbp_before_profit_restriction: 0.682728408
actual_scenario_dps_gbp_after_profit_restriction: 0.682728408
employee_trust_market_purchases_not_corporate_buybacks: 0.069255033
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2033-11-06

期間末

2034-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 46.894579874
negative_odi_revenue_adjustment: -0.0245
revenue: 46.870079874
cash_operating_cost_excluding_sbc_and_ire: 13.203859907
infrastructure_renewal_expense: 0.459474267
sbc_expense_included_in_pat: 0.061493693
depreciation_and_amortization: 8.996815056
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 24.143636952
cash_finance_interest_expense: 3.931802017
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.401294239
total_finance_expense: 5.333096256
share_of_jv_loss: 0.02
profit_before_tax: 18.790540696
income_tax_expense: 4.697635174
parent_attributable_ifrs_profit_after_sbc: 14.092905522
noncontrolling_profit: 0
total_profit_after_tax: 14.092905522

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 281.358367575
cpi_indexation_net_of_regulatory_runoff: 0.281358368
cash_capex: 20.895
maintenance_replacement_capex_assumed: 11.07435
growth_and_compliance_capex_assumed: 9.82065
qualified_rcv_capex_addition_proxy: 14.2086
rcv_end_adjusted: 295.848325942
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 26.524502404
noncash_financing_indexation_in_CFO_reconciliation: 1.401294239
deferred_tax_non_cash_added_back: 2.254864884
working_capital_cash_deduction: 0.282870989
regulatory_style_net_debt_begin: 157.27208067
cash_capex: 20.895
dividends_paid_company_wide: 5.249254785
employee_trust_market_purchase_cash: 0.071332684
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.401294239
regulatory_style_net_debt_end: 158.364459974
gearing_end_net_debt_over_adjusted_rcv: 0.535289356

ordinary_parent_equity_oku

内容を開く

begin: 68.114219477
parent_profit_after_sbc: 14.092905522
ifrs2_non_cash_sbc_equity_credit: 0.061493693
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 5.249254785
employee_trust_purchase_equity_reduction: 0.071332684
assumed_other_comprehensive_income: 0
end: 76.948031223

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 337797.10717774
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 740409298.2702
old_cohort_sold_to_employee_trust: 336680.88594428
old_cohort_owned_end: 740072617.38426
old_cohort_fraction_begin: 0.996695587
old_cohort_fraction_end: 0.996242367
employee_market_purchase_unit_price_gbp: 21.117020448
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.743969693
final_dividend: 3.48635334
pro_rata_tender_to_employee_trust: 0.071096972
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 5.301420005

company_cash_returns_oku

内容を開く

interim_dividend: 1.749751595
final_dividend: 3.49950319
target_dps_gbp_before_profit_restriction: 0.706623903
actual_scenario_dps_gbp_after_profit_restriction: 0.706623903
employee_trust_market_purchases_not_corporate_buybacks: 0.071332684
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2034-11-06

期間末

2035-11-06

period_days

365

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 49.473781767
negative_odi_revenue_adjustment: -0.0245
revenue: 49.449281767
cash_operating_cost_excluding_sbc_and_ire: 13.599975704
infrastructure_renewal_expense: 0.468663752
sbc_expense_included_in_pat: 0.063338504
depreciation_and_amortization: 9.518630329
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 25.793873478
cash_finance_interest_expense: 3.959111499
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.411027338
total_finance_expense: 5.370138838
share_of_jv_loss: 0.02
profit_before_tax: 20.403734641
income_tax_expense: 5.10093366
parent_attributable_ifrs_profit_after_sbc: 15.30280098
noncontrolling_profit: 0
total_profit_after_tax: 15.30280098

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 295.848325942
cpi_indexation_net_of_regulatory_runoff: 0.295848326
cash_capex: 21.3925
maintenance_replacement_capex_assumed: 11.338025
growth_and_compliance_capex_assumed: 10.054475
qualified_rcv_capex_addition_proxy: 14.5469
rcv_end_adjusted: 310.691074268
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 28.45288819
noncash_financing_indexation_in_CFO_reconciliation: 1.411027338
deferred_tax_non_cash_added_back: 2.448448157
working_capital_cash_deduction: 0.291357119
regulatory_style_net_debt_begin: 158.364459974
cash_capex: 21.3925
dividends_paid_company_wide: 5.432978703
employee_trust_market_purchase_cash: 0.073472665
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.411027338
regulatory_style_net_debt_end: 158.22155049
gearing_end_net_debt_over_adjusted_rcv: 0.509256826

ordinary_parent_equity_oku

内容を開く

begin: 76.948031223
parent_profit_after_sbc: 15.30280098
ifrs2_non_cash_sbc_equity_credit: 0.063338504
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 5.432978703
employee_trust_purchase_equity_reduction: 0.073472665
assumed_other_comprehensive_income: 0
end: 86.80771934

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 334549.05807026
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 740072617.38426
old_cohort_sold_to_employee_trust: 333291.94538613
old_cohort_owned_end: 739739325.43887
old_cohort_fraction_begin: 0.996242367
old_cohort_fraction_end: 0.995793709
employee_market_purchase_unit_price_gbp: 21.961701266
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.804187854
final_dividend: 3.606750674
pro_rata_tender_to_employee_trust: 0.073196581
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 5.484135109

company_cash_returns_oku

内容を開く

interim_dividend: 1.810992901
final_dividend: 3.621985802
target_dps_gbp_before_profit_restriction: 0.731355739
actual_scenario_dps_gbp_after_profit_restriction: 0.731355739
employee_trust_market_purchases_not_corporate_buybacks: 0.073472665
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: 0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

内容を開く

anniversary_year

period_start

2035-11-06

期間末

2036-11-06

period_days

366

data_status

scenario_forecast

income_oku

内容を開く

regulatory_gross_revenue_before_odi: 52.194839765
negative_odi_revenue_adjustment: -0.0245
revenue: 52.170339765
cash_operating_cost_excluding_sbc_and_ire: 14.007974975
infrastructure_renewal_expense: 0.478037027
sbc_expense_included_in_pat: 0.065238659
depreciation_and_amortization: 10.070710888
environmental_legal_compliance_fines_expense: 0.0048
operating_profit: 27.543578215
cash_finance_interest_expense: 3.955538762
assumed_index_linked_fraction_of_debt: 0.33
noncash_indexation_finance_expense: 1.409754015
total_finance_expense: 5.365292777
share_of_jv_loss: 0.02
profit_before_tax: 22.158285438
income_tax_expense: 5.539571359
parent_attributable_ifrs_profit_after_sbc: 16.618714078
noncontrolling_profit: 0
total_profit_after_tax: 16.618714078

regulatory_rcv_and_investment_oku

内容を開く

rcv_begin_adjusted: 310.691074268
cpi_indexation_net_of_regulatory_runoff: 0.310691074
cash_capex: 21.89
maintenance_replacement_capex_assumed: 11.6017
growth_and_compliance_capex_assumed: 10.2883
qualified_rcv_capex_addition_proxy: 14.8852
rcv_end_adjusted: 325.886965343
RCV_is_unavailable_to_shareholders_as_cash: はい

cash_flow_and_debt_oku

内容を開く

company_cash_from_operations: 30.523314061
noncash_financing_indexation_in_CFO_reconciliation: 1.409754015
deferred_tax_non_cash_added_back: 2.658994253
working_capital_cash_deduction: 0.300097832
regulatory_style_net_debt_begin: 158.22155049
cash_capex: 21.89
dividends_paid_company_wide: 5.623132957
employee_trust_market_purchase_cash: 0.075676845
third_party_primary_issue_net_proceeds: 0
noncash_debt_principal_indexation: 1.409754015
regulatory_style_net_debt_end: 156.696800246
gearing_end_net_debt_over_adjusted_rcv: 0.480831751

ordinary_parent_equity_oku

内容を開く

begin: 86.80771934
parent_profit_after_sbc: 16.618714078
ifrs2_non_cash_sbc_equity_credit: 0.065238659
primary_equity_issue_proceeds: 0
company_dividend_cash_reduction: 5.623132957
employee_trust_purchase_equity_reduction: 0.075676845
assumed_other_comprehensive_income: 0
end: 97.792862275

share_and_holder_cohort_ledger

内容を開く

issued_ordinary_begin: 742864028
issued_from_third_party_equity_funding: 0
issued_ordinary_end: 742864028
company_treasury_begin: 0
company_treasury_end: 0
trust_purchased_and_delivered_same_period: 331332.2402042
trust_end_balance_model_only: 0
sbc_new_primary_shares: 0
old_cohort_owned_begin: 739739325.43887
old_cohort_sold_to_employee_trust: 329938.56025669
old_cohort_owned_end: 739409386.87861
old_cohort_fraction_begin: 0.995793709
old_cohort_fraction_end: 0.995349565
employee_market_purchase_unit_price_gbp: 22.840169316
third_party_issue_price_gbp: 未確認
third_party_issue_proceeds_oku: 0

holder_cash_returns_oku

内容を開く

interim_dividend: 1.866493474
final_dividend: 3.731321961
pro_rata_tender_to_employee_trust: 0.075358526
ordinary_company_buybacks_pro_rata: 0
total_old_holder_cash_receipts: 5.67317396

company_cash_returns_oku

内容を開く

interim_dividend: 1.874377652
final_dividend: 3.748755305
target_dps_gbp_before_profit_restriction: 0.75695319
actual_scenario_dps_gbp_after_profit_restriction: 0.75695319
employee_trust_market_purchases_not_corporate_buybacks: 0.075676845
corporate_buybacks: 0
ordinary_primary_issue_receipts_not_shareholder_return: 0

audit_residuals

内容を開く

income_statement_oku: -0
親会社持分（億）: 0
rcv_oku: 0
debt_oku: 0
発行済株式数: 0
cohort_shares: 0
holder_cashflow_oku: 0
company_dividends_oku: 0

complete_timed_corporate_and_cohort_events

内容を開く

種類: ordinary_dividend
想定日: 2027-02-01
金額: 1.375288937
company_total_oku: 1.375288937
per_share_gbp: 0.185133333
holder_shares_at_record_date_proxy: 742864028
evidence: 2027-02-01 date scheduled by company; cash amount forecast
ex_date: 未確認
scheduled_ex_date: 2026-12-17
year: 0.238193018

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2027-04-30
金額: 0.058
company_total_oku: 0.058
tender_price_gbp_assumed: 16.0472
employee_trust_market_purchased_shares: 361433.77037739
old_cohort_shares_tendered: 361433.77037739
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 0.479123888

内容を開く

種類: ordinary_dividend
想定日: 2027-08-03
金額: 2.749239606
company_total_oku: 2.750577874
per_share_gbp: 0.370266667
holder_shares_at_record_date_proxy: 742502594.22962
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2027-06-25
year: 0.739219713

内容を開く

種類: ordinary_dividend
想定日: 2028-02-01
金額: 1.422731496
company_total_oku: 1.42342405
per_share_gbp: 0.191613
holder_shares_at_record_date_proxy: 742502594.22962
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2027-12-17
year: 1.237508556

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2028-04-28
金額: 0.059710934
company_total_oku: 0.05974
tender_price_gbp_assumed: 16.689088
employee_trust_market_purchased_shares: 357958.44566222
old_cohort_shares_tendered: 357784.28421978
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 1.475701574

内容を開く

種類: ordinary_dividend
想定日: 2028-08-03
金額: 2.844091869
company_total_oku: 2.8468481
per_share_gbp: 0.383226
holder_shares_at_record_date_proxy: 742144809.9454
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2028-06-23
year: 1.741273101

内容を開く

種類: ordinary_dividend
想定日: 2029-02-01
金額: 1.471817542
company_total_oku: 1.473243892
per_share_gbp: 0.198319455
holder_shares_at_record_date_proxy: 742144809.9454
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2028-12-15
year: 2.239561944

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2029-04-30
金額: 0.061472626
company_total_oku: 0.0615322
tender_price_gbp_assumed: 17.35665152
employee_trust_market_purchased_shares: 354516.53753085
old_cohort_shares_tendered: 354173.30554649
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 2.480492813

内容を開く

種類: ordinary_dividend
想定日: 2029-08-03
金額: 2.942230296
company_total_oku: 2.946487783
per_share_gbp: 0.39663891
holder_shares_at_record_date_proxy: 741790636.63986
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2029-06-25
year: 2.740588638

内容を開く

種類: ordinary_dividend
想定日: 2030-02-01
金額: 1.522604178
company_total_oku: 1.524807428
per_share_gbp: 0.205260636
holder_shares_at_record_date_proxy: 741790636.63986
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2029-12-17
year: 3.238877481

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2030-04-30
金額: 0.063286589
company_total_oku: 0.063378166
tender_price_gbp_assumed: 18.050917581
employee_trust_market_purchased_shares: 351107.72466998
old_cohort_shares_tendered: 350600.39629771
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 3.47980835

内容を開く

種類: ordinary_dividend
想定日: 2030-08-05
金額: 3.043769067
company_total_oku: 3.049614856
per_share_gbp: 0.410521272
holder_shares_at_record_date_proxy: 741440036.24356
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2030-06-25
year: 3.745379877

内容を開く

種類: ordinary_dividend
想定日: 2031-02-03
金額: 1.575150492
company_total_oku: 1.578175688
per_share_gbp: 0.212444758
holder_shares_at_record_date_proxy: 741440036.24356
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2030-12-17
year: 4.24366872

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2031-04-30
金額: 0.065154377
company_total_oku: 0.065279511
tender_price_gbp_assumed: 18.772954284
employee_trust_market_purchased_shares: 347731.68885584
old_cohort_shares_tendered: 347065.12399374
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 4.479123888

内容を開く

種類: ordinary_dividend
想定日: 2031-08-04
金額: 3.148826341
company_total_oku: 3.156351376
per_share_gbp: 0.424889516
holder_shares_at_record_date_proxy: 741092971.11956
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2031-06-25
year: 4.741957563

内容を開く

種類: ordinary_dividend
想定日: 2032-02-02
金額: 1.629517631
company_total_oku: 1.633411837
per_share_gbp: 0.219880325
holder_shares_at_record_date_proxy: 741092971.11956
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2031-12-17
year: 5.240246407

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2032-04-30
金額: 0.067077595
company_total_oku: 0.067237896
tender_price_gbp_assumed: 19.523872455
employee_trust_market_purchased_shares: 344388.11492454
old_cohort_shares_tendered: 343567.06165303
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 5.481177276

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種類: ordinary_dividend
想定日: 2032-08-03
金額: 3.25752439
company_total_oku: 3.266823674
per_share_gbp: 0.439760649
holder_shares_at_record_date_proxy: 740749404.05791
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2032-06-25
year: 5.741273101

内容を開く

種類: ordinary_dividend
想定日: 2033-02-01
金額: 1.685768872
company_total_oku: 1.690581251
per_share_gbp: 0.227576136
holder_shares_at_record_date_proxy: 740749404.05791
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2032-12-17
year: 6.239561944

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2033-04-29
金額: 0.069057893
company_total_oku: 0.069255033
tender_price_gbp_assumed: 20.304827354
employee_trust_market_purchased_shares: 341076.69074257
old_cohort_shares_tendered: 340105.78771167
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 6.477754962

内容を開く

種類: ordinary_dividend
想定日: 2033-08-03
金額: 3.369989744
company_total_oku: 3.381162503
per_share_gbp: 0.455152272
holder_shares_at_record_date_proxy: 740409298.2702
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2033-06-24
year: 6.740588638

内容を開く

種類: ordinary_dividend
想定日: 2034-02-01
金額: 1.743969693
company_total_oku: 1.749751595
per_share_gbp: 0.235541301
holder_shares_at_record_date_proxy: 740409298.2702
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2033-12-16
year: 7.238877481

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2034-04-28
金額: 0.071096972
company_total_oku: 0.071332684
tender_price_gbp_assumed: 21.117020448
employee_trust_market_purchased_shares: 337797.10717774
old_cohort_shares_tendered: 336680.88594428
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 7.474332649

内容を開く

種類: ordinary_dividend
想定日: 2034-08-03
金額: 3.48635334
company_total_oku: 3.49950319
per_share_gbp: 0.471082602
holder_shares_at_record_date_proxy: 740072617.38426
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2034-06-23
year: 7.739904175

内容を開く

種類: ordinary_dividend
想定日: 2035-02-01
金額: 1.804187854
company_total_oku: 1.810992901
per_share_gbp: 0.243785246
holder_shares_at_record_date_proxy: 740072617.38426
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2034-12-15
year: 8.238193018

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2035-04-30
金額: 0.073196581
company_total_oku: 0.073472665
tender_price_gbp_assumed: 21.961701266
employee_trust_market_purchased_shares: 334549.05807026
old_cohort_shares_tendered: 333291.94538613
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 8.479123888

内容を開く

種類: ordinary_dividend
想定日: 2035-08-03
金額: 3.606750674
company_total_oku: 3.621985802
per_share_gbp: 0.487570493
holder_shares_at_record_date_proxy: 739739325.43887
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2035-06-25
year: 8.739219713

内容を開く

種類: ordinary_dividend
想定日: 2036-02-01
金額: 1.866493474
company_total_oku: 1.874377652
per_share_gbp: 0.25231773
holder_shares_at_record_date_proxy: 739739325.43887
evidence: date & amount model assumption
ex_date: 未確認
scheduled_ex_date: 2035-12-17
year: 9.237508556

内容を開く

種類: employee_trust_market_purchase_proportional_tender
想定日: 2036-04-30
金額: 0.075358526
company_total_oku: 0.075676845
tender_price_gbp_assumed: 22.840169316
employee_trust_market_purchased_shares: 331332.2402042
old_cohort_shares_tendered: 329938.56025669
basis: 市場から旧株主・新株主が比例応札、翌営業日以内の即時従業員交付を仮定。新株発行でない。
year: 9.481177276

内容を開く

種類: ordinary_dividend
想定日: 2036-08-04
金額: 3.731321961
company_total_oku: 3.748755305
per_share_gbp: 0.50463546
holder_shares_at_record_date_proxy: 739409386.87861
evidence: date & amount model assumption
ex_date: 未確認
assumed_ex_date: 2036-06-25
year: 9.744010951

期間内株主受取

48.94103955

終価

223.679181786

old_holder_economics

内容を開く

initial_purchased_ordinary_shares: 742864028
purchased_shares_as_of_date: 2026-11-06
initial_cost_oku: 114.62391952
holder_policy: proportional_tender_for_all_employer_trust_market_purchase_events; no subscription to future primary issues; zero corporate repurchases assumed
initial_ownership_share_of_public_ordinary: 1
terminal_old_cohort_shares: 739409386.87861
terminal_issued_ordinary_shares: 742864028
terminal_share_fraction: 0.995349565
terminal_entire_company_equity_value_oku: 224.724247365
terminal_old_cohort_mcap_oku: 223.679181786
terminal_share_price_gbp_derived_not_market_multiple: 30.251060611
net_primary_share_funding_oku: 0
terminal_PV_oku: 98.918992166
holder_cash_PV_oku: 32.51242272
total_holder_PV_oku: 131.431414886
scenario_irr: 0.102351129

terminal_valuation

内容を開く

方法: FCFE_gordon_from_normalized_post_SBC_earnings_less_growth_retention_and_uncovered_maintenance_capex
common_nominal_cost_of_equity: 0.085
terminal_growth: 0.028
normalized_sustainable_ROE_on_economic_reinvested_equity_assumption: 0.185
year10_reported_parent_profit_after_sbc_oku: 16.618714078
terminal_normalization_factor: 0.98
post_SBC_sustainable_parent_profit_oku: 16.286339796
equity_earnings_retained_for_growth_oku: 2.464959537
incremental_maintenance_capex_above_depreciation_net_recovery_oku: 1.360989112
year11_sustainable_distributable_cash_oku: 12.8092821
terminal_whole_company_value_oku: 224.724247365
terminal_original_cohort_value_oku: 223.679181786
treatment: 2036-11-06残存旧株主持分。最終年の配当やEBT買付は同日以前のもののみ。2036-11-06後1年間の配当を期間内CFへ前倒ししない。

discounted_at_k

内容を開く

cashflow_pv_oku: 32.51242272
terminal_pv_oku: 98.918992166
現在価値（億）: 131.431414886
price_paid_oku: 114.62391952
npv_oku: 16.807495366
pv_to_price: 1.146631658

checks

内容を開く

rows: 10
cashflow_events_count: 30
all_anniversary_start_end_connect: はい
payout_minus_events_oku: -0
terminal_all_times_within_horizon: はい
share_ledger_balances: はい
company_to_old_valuation_residual_oku: 0
scenario_irr_NPV_residual_oku: 0

calendar_year_bridge_views

内容を開く

calendar_year: 2026
start_inclusive: 2026-11-06
end_exclusive: 2027-01-01
days: 56
view: overlap_allocated_calendar_view_not_extra_valuation_years
uniform_daily_operating_accrual_assumption: はい
売上高: 4.466958904
operating_cash_cost_before_ire_sbc_oku: 1.614027397
depreciation_oku: 0.874520548
finance_expense_oku: 0.557129153
parent_profit_after_sbc_oku: 1.008081902
noncash_sbc_equity_credit_oku: 0.007671233
cash_capex_oku: 3.358465753
cfo_oku: 2.261284005
indexation_principal_oku: 0.177799429
dividends_all_shareholders_event_dated_oku: 0
employee_trust_share_purchase_event_dated_oku: 0
new_primary_equity_net_proceeds_event_dated_oku: 0
old_cohort_cash_receipts_event_dated_oku: 0
change_parent_equity_oku: 1.015753135
change_regulatory_style_net_debt_oku: 1.274981177
change_adjusted_rcv_oku: 2.310336314
calendar_event_dates: 記載なし
注記: 2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2027

start_inclusive

2027-01-01

end_exclusive

2028-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

29.50866514

operating_cash_cost_before_ire_sbc_oku

10.575145936

depreciation_oku

5.767381091

finance_expense_oku

3.687993607

parent_profit_after_sbc_oku

6.730426355

noncash_sbc_equity_credit_oku

0.050208549

cash_capex_oku

22.489785613

cfo_oku

15.011441748

indexation_principal_oku

1.168821769

dividends_all_shareholders_event_dated_oku

4.125866811

employee_trust_share_purchase_event_dated_oku

0.058

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.182528543

change_parent_equity_oku

2.596768093

change_regulatory_style_net_debt_oku

12.831032444

change_adjusted_rcv_oku

15.468527666

calendar_event_dates

1: 2027-02-01
2: 2027-04-30
3: 2027-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2028

start_inclusive

2028-01-01

end_exclusive

2029-01-01

days

366

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

32.224984051

operating_cash_cost_before_ire_sbc_oku

10.975741695

depreciation_oku

6.234139128

finance_expense_oku

4.082073962

parent_profit_after_sbc_oku

7.814119082

noncash_sbc_equity_credit_oku

0.05175863

cash_capex_oku

25.880844524

cfo_oku

16.872248102

indexation_principal_oku

1.239120633

dividends_all_shareholders_event_dated_oku

4.27027215

employee_trust_share_purchase_event_dated_oku

0.05974

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.326534299

change_parent_equity_oku

3.535865562

change_regulatory_style_net_debt_oku

14.577729205

change_adjusted_rcv_oku

17.790081575

calendar_event_dates

1: 2028-02-01
2: 2028-04-28
3: 2028-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2029

start_inclusive

2029-01-01

end_exclusive

2030-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

35.146113994

operating_cash_cost_before_ire_sbc_oku

11.377101856

depreciation_oku

6.730083261

finance_expense_oku

4.514644134

parent_profit_after_sbc_oku

9.003295667

noncash_sbc_equity_credit_oku

0.053289152

cash_capex_oku

25.412027397

cfo_oku

18.890230196

indexation_principal_oku

1.307945198

dividends_all_shareholders_event_dated_oku

4.419731675

employee_trust_share_purchase_event_dated_oku

0.0615322

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.475520464

change_parent_equity_oku

4.575320944

change_regulatory_style_net_debt_oku

12.311006274

change_adjusted_rcv_oku

17.488989622

calendar_event_dates

1: 2029-02-01
2: 2029-04-30
3: 2029-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2030

start_inclusive

2030-01-01

end_exclusive

2031-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

38.140127298

operating_cash_cost_before_ire_sbc_oku

11.78545536

depreciation_oku

7.244253754

finance_expense_oku

4.85067294

parent_profit_after_sbc_oku

10.31367199

noncash_sbc_equity_credit_oku

0.054887827

cash_capex_oku

22.427027397

cfo_oku

20.920785487

indexation_principal_oku

1.335598433

dividends_all_shareholders_event_dated_oku

4.574422284

employee_trust_share_purchase_event_dated_oku

0.063378166

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.629659834

change_parent_equity_oku

5.730759367

change_regulatory_style_net_debt_oku

7.479640793

change_adjusted_rcv_oku

15.476678612

calendar_event_dates

1: 2030-02-01
2: 2030-04-30
3: 2030-08-05

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2031

start_inclusive

2031-01-01

end_exclusive

2032-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

40.230908336

operating_cash_cost_before_ire_sbc_oku

12.133801784

depreciation_oku

7.661051234

finance_expense_oku

5.020165055

parent_profit_after_sbc_oku

11.175355639

noncash_sbc_equity_credit_oku

0.056510164

cash_capex_oku

19.891658058

cfo_oku

21.740097391

indexation_principal_oku

1.319070205

dividends_all_shareholders_event_dated_oku

4.734527064

employee_trust_share_purchase_event_dated_oku

0.065279511

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.78913121

change_parent_equity_oku

6.432059228

change_regulatory_style_net_debt_oku

4.270437447

change_adjusted_rcv_oku

13.767997902

calendar_event_dates

1: 2031-02-03
2: 2031-04-30
3: 2031-08-04

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2032

start_inclusive

2032-01-01

end_exclusive

2033-01-01

days

366

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

42.481229424

operating_cash_cost_before_ire_sbc_oku

12.508406828

depreciation_oku

8.112326096

finance_expense_oku

5.170141217

parent_profit_after_sbc_oku

12.123088124

noncash_sbc_equity_credit_oku

0.058254794

cash_capex_oku

19.984670709

cfo_oku

23.323868156

indexation_principal_oku

1.358477094

dividends_all_shareholders_event_dated_oku

4.900235511

employee_trust_share_purchase_event_dated_oku

0.067237896

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

4.954119616

change_parent_equity_oku

7.21386951

change_regulatory_style_net_debt_oku

2.986753054

change_adjusted_rcv_oku

13.845232757

calendar_event_dates

1: 2032-02-02
2: 2032-04-30
3: 2032-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2033

start_inclusive

2033-01-01

end_exclusive

2034-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

44.800422314

operating_cash_cost_before_ire_sbc_oku

12.878285279

depreciation_oku

8.579276357

finance_expense_oku

5.270190966

parent_profit_after_sbc_oku

13.152033815

noncash_sbc_equity_credit_oku

0.059977411

cash_capex_oku

20.473828767

cfo_oku

25.004482504

indexation_principal_oku

1.3847656

dividends_all_shareholders_event_dated_oku

5.071743754

employee_trust_share_purchase_event_dated_oku

0.069255033

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

5.124816509

change_parent_equity_oku

8.071012439

change_regulatory_style_net_debt_oku

1.99511065

change_adjusted_rcv_oku

14.191593453

calendar_event_dates

1: 2033-02-01
2: 2033-04-29
3: 2033-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2034

start_inclusive

2034-01-01

end_exclusive

2035-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

47.265793041

operating_cash_cost_before_ire_sbc_oku

13.264633837

depreciation_oku

9.076874386

finance_expense_oku

5.338779501

parent_profit_after_sbc_oku

14.278533318

noncash_sbc_equity_credit_oku

0.061776732

cash_capex_oku

20.971328767

cfo_oku

26.820364333

indexation_principal_oku

1.402787536

dividends_all_shareholders_event_dated_oku

5.249254785

employee_trust_share_purchase_event_dated_oku

0.071332684

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

5.301420005

change_parent_equity_oku

9.019722582

change_regulatory_style_net_debt_oku

0.87433944

change_adjusted_rcv_oku

14.544085046

calendar_event_dates

1: 2034-02-01
2: 2034-04-28
3: 2034-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2035

start_inclusive

2035-01-01

end_exclusive

2036-01-01

days

365

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

49.844889714

operating_cash_cost_before_ire_sbc_oku

13.656700807

depreciation_oku

9.599111528

finance_expense_oku

5.367146239

parent_profit_after_sbc_oku

15.497728047

noncash_sbc_equity_credit_oku

0.063602687

cash_capex_oku

21.459652631

cfo_oku

28.757747409

indexation_principal_oku

1.41024102

dividends_all_shareholders_event_dated_oku

5.432978703

employee_trust_share_purchase_event_dated_oku

0.073472665

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

5.484135109

change_parent_equity_oku

10.054879366

change_regulatory_style_net_debt_oku

-0.38140239

change_adjusted_rcv_oku

14.890559119

calendar_event_dates

1: 2035-02-01
2: 2035-04-30
3: 2035-08-03

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

内容を開く

calendar_year

2036

start_inclusive

2036-01-01

end_exclusive

2036-11-06

days

310

view

overlap_allocated_calendar_view_not_extra_valuation_years

uniform_daily_operating_accrual_assumption

はい

売上高

44.187992697

operating_cash_cost_before_ire_sbc_oku

11.864678258

depreciation_oku

8.529837091

finance_expense_oku

4.544373664

parent_profit_after_sbc_oku

14.075960011

noncash_sbc_equity_credit_oku

0.055256788

cash_capex_oku

18.540710383

cfo_oku

25.853080216

indexation_principal_oku

1.194053947

dividends_all_shareholders_event_dated_oku

5.623132957

employee_trust_share_purchase_event_dated_oku

0.075676845

new_primary_equity_net_proceeds_event_dated_oku

old_cohort_cash_receipts_event_dated_oku

5.673173961

change_parent_equity_oku

8.432406997

change_regulatory_style_net_debt_oku

-0.419506084

change_adjusted_rcv_oku

12.870836703

calendar_event_dates

1: 2036-02-01
2: 2036-04-30
3: 2036-08-04

注記

2026は2026-11-06以後、2036は2036-11-06までの一部期間。年次50明細の二重計上禁止。

売上高

52.170339765

営業利益

27.543578215

純利益

16.618714078

equity_oku

97.792862275

期間内の親会社利益合計（億）

115.172293951

multiple

kind

fcfe_model

why

持続利益、成長のための留保と追加維持投資から導出。

detail

内容を開く

方法: FCFE_gordon_from_normalized_post_SBC_earnings_less_growth_retention_and_uncovered_maintenance_capex
common_nominal_cost_of_equity: 0.085
terminal_growth: 0.028
normalized_sustainable_ROE_on_economic_reinvested_equity_assumption: 0.185
year10_reported_parent_profit_after_sbc_oku: 16.618714078
terminal_normalization_factor: 0.98
post_SBC_sustainable_parent_profit_oku: 16.286339796
equity_earnings_retained_for_growth_oku: 2.464959537
incremental_maintenance_capex_above_depreciation_net_recovery_oku: 1.360989112
year11_sustainable_distributable_cash_oku: 12.8092821
terminal_whole_company_value_oku: 224.724247365
terminal_original_cohort_value_oku: 223.679181786
treatment: 2036-11-06残存旧株主持分。最終年の配当やEBT買付は同日以前のもののみ。2036-11-06後1年間の配当を期間内CFへ前倒ししない。

標準（確率 40.0%）

AMP8の大部分が進捗、許容利益の回収と効率改善が進むが維持投資負担が残る。

確率の根拠

将来の規制・設備投資・資金調達を考慮した分析上の仮定。

このシナリオの数値・キャッシュフローを開く →

弱気（確率 20.0%）

料金回収の遅れ、環境ODI損失と資金調達コスト増。

確率の根拠

将来の規制・設備投資・資金調達を考慮した分析上の仮定。

このシナリオの数値・キャッシュフローを開く →

深刻な下方（確率 10.0%）

規制不達・環境制裁と建設超過。資金不足を増資で補填。

確率の根拠

将来の規制・設備投資・資金調達を考慮した分析上の仮定。

このシナリオの数値・キャッシュフローを開く →

単位の説明

monetary_company_and_cohort: 億GBP（100 million GBP）
ordinary_share_price: GBP/share
stock_exchange_price: GBX (pence); price_gbp=price_gbx/100
株数: number of ordinary shares
probability_and_rates: fraction, 0.085=8.5%
cashflow_time: actual_days_since_2026-11-06/365.25

分析基準とデータ

価格・単価

15.43

株価基準日

2026-11-06

株数

742864028

株価の出所

https://www.londonstockexchange.com/en/quote/equity/UU~/united-utilities-group-plc

株数の出所

https://www.unitedutilities.com/globalassets/z_corporate-site/financial-news-2026/orchid---notification-of-admission-of-further-securities-to-trading-prm-1.6.4r593923535.2.pdf

detail

内容を開く

価格・単価

内容を開く

price_gbp: 15.43
price_gbx: 1543
株価基準日: 2026-11-06
time: 16:35 GMT London closing auction
source_id: lse_close
状態: confirmed_close

株数

内容を開く

ordinary_issued: 742864028
ordinary_issued_asof_source: 2026-05-05; re-verified AGM 2026-07-17
company_treasury_shares_last_confirmed: 0
treasury_confirmed_asof_date: 2026-05-05
employee_trust_shares_held_on_2026-11-06: 未確認
employee_trust_share_balance_known: いいえ
estimated_effective_ordinary_shares_for_valuation: 742864028
valuation_denominator_status: dated_proxy; not proven exact as of 2026-11-06; sensitivity to EBT holding and later issue exists
non_economic_deferred_shares_excluded: 273956180
pre_issue_ordinary_shares: 681888418
added_ordinary_shares_2026_05_05: 60975610
sbc_creates_new_issued_shares_in_base_model: いいえ
price_times_effective_shares_oku: 114.62391952
issuer_equity_offering_net_proceeds_oku: 7.88
source_id: placing

時価総額（億）

114.62391952

market_cap_price_times_share_count_source

direct calculation, not LSE displayed market cap

last_verified_ifrs_financial_reporting_date

2026-03-31

balance_sheet_2026_11_06_status

estimated proxy from audited FY26 + known May placement + August dividend + unreported bridge profits/cash movements

fy26_reported_ifrs

内容を開く

fiscal_year_end

2026-03-31

売上高

26.163

cash_operating_expense_including_sbc_oku

9.783

infrastructure_renewal_expense_oku

0.381

depreciation_and_amortization_oku

5.005

営業利益（億）

10.994

net_finance_expense_oku

3.158

equity_accounted_jv_loss_oku

0.046

profit_before_tax_oku

7.79

tax_expense_oku

1.922

attributable_profit_oku

5.868

親会社持分（億）

22.414

total_equity_oku

22.414

noncontrolling_interest_oku

cash_and_equivalents_oku

17.943

current_borrowings_oku

1.649

non_current_borrowings_oku

113.257

gross_borrowings_oku

114.906

regulatory_net_debt_oku

99.43

ifrs_net_debt_reported_oku

96.58

adjusted_rcv_oku

165.27

capital_investment_regulatory_oku

15.251

ppe_cash_purchases_oku

14.921

reported_cfo_oku

13.819

equity_settled_sbc_charge_oku

0.045

employee_share_purchases_for_options_oku

0.058

paid_dividends_oku

3.576

dividends_per_share_pence

53.66

interim_paid_pence

17.88

final_paid_pence

35.78

historical_revenue_by_service_oku

内容を開く

wholesale_clean_water: 10.739
wholesale_wastewater: 13.626
household_retail: 1.36
other: 0.438

asof_2026_11_06_estimates

内容を開く

ordinary_parent_equity_oku: 31.114445052
net_debt_regulatory_style_oku: 98.896678235
adjusted_rcv_oku: 173.242046575
net_debt_over_rcv: 0.570858404
状態: model_proxy_not_disclosed_balance_sheet; Sep 2026 court fine assumed recognized and cash-paid

bridge_from_fy2026_year_end

内容を開く

period

2026-04-01 to 2026-11-06

days

220

状態

推計・代理値。2026年9月末中間決算は11月12日発表予定のため2026-11-06時点で利用不可

from_2026_03_31

内容を開く

親会社持分（億）: 22.414
regulatory_net_debt_oku: 99.43
adjusted_rcv_oku: 165.27
ordinary_shares: 681888418

verified_event_2026_05_05

内容を開く

new_ordinary_shares: 60975610
price_gbp: 13.12
gross_proceeds_oku: 8
net_proceeds_oku: 7.88
post_issue_ordinary_shares: 742864028
company_treasury_shares: 0
last_verified_count_date: 2026-07-17

verified_final_dividend_paid_2026_08_03

内容を開く

cash_outflow_oku: 2.657967492
per_share_gbp: 0.3578
ex_date: 2026-06-25
from_march_equity_dividend_liability: 2026-03-31未認識。会社決算注記9に従い承認後に控除

assumed_profit_before_september_court_fine_oku

3.495890411

recognized_september_2026_court_fine_assumed_paid_oku

0.00964225

assumed_profit_after_court_fine_oku

3.486248161

court_fine_cash_settlement_unverified

はい

assumed_equity_sbc_credit_oku

0.027123288

assumed_employee_share_market_purchases_oku

0.034958904

assumed_OCI_oku

assumed_capex_cash_oku

12.054794521

assumed_depreciation_oku

3.315068493

assumed_indexation_oku

0.560547945

assumed_deferred_tax_noncash_oku

0.693150685

assumed_working_capital_cash_deduction_oku

0.120547945

assumed_cfo_oku

7.971232877

estimated_as_of_parent_equity_oku

31.114445052

estimated_as_of_regulatory_style_net_debt_oku

98.896678235

estimated_as_of_adjusted_rcv_oku

173.242046575

estimated_as_of_issued_ordinary_shares

742864028

estimated_as_of_treasury_shares

employee_trust_ordinary_shares_as_of

未確認

old_cohort_model_initial_shares

742864028

audit_equity_residual_oku

audit_debt_residual_oku

warning

share_count_sensitivity

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employee_trust_held_shares_unverified: 未確認
illustrative_unverified_employee_trust_shares: 1000000
illustrative_outstanding_if_1m_treasury_equivalent_were_excluded: 741864028
market_cap_difference_oku_for_1m_share_denominator_change: 0.1543
注記: EBTを会社自己株と同じ会計・株式市場フリーフロート控除扱いにできるかは信託保有時点・連結構成に依存。1m株は事実ではなく感応度。

追加データ・検証記録

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分析に使用した資料

www.londonstockexchange.com 2026-11-06
www.unitedutilities.com 2026-04-30
www.unitedutilities.com 2026-06-24
www.unitedutilities.com history up to 2026-08-03
unitedutilities.annualreport2026.com 2026-06-24
www.investegate.co.uk 2026-04-30 and admission 2026-05-05
www.investegate.eu 2026-07-17
www.unitedutilities.com 2026-09-25
www.ofwat.gov.uk 2024-12
www.ofwat.gov.uk 2025-03-20 edition
www.gov.uk 2026-09-08
www.unitedutilities.com 2026-03 revised calendar
find-and-update.company-information.service.gov.uk 2026-07-06

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