AI 銘柄分析 · 10年

The Sage Group plc

SGE · GBP · 分析基準日 2026-11-06

{ "market_price_gbp_per_share": 11.65, "market_cap_economic_cohort_oku": 104.920901, "expected_holder_pv_oku": 77.679722, "expected_pv_per_old_initial_share_gbp": 8.625248, "expected_value_to_market_ratio": 0.740364611, "market_price_premium_over_model_pv": 0.350685844, "expected_holder_cash_timed_irr": 0.0499631911, "common_required_return_k": 0.09, "discount_to_model_pv": -0.35068584, "primary_data_asof": "2026-11-06; share count October 30 used dated proxy; IFRS balance March 31 and Q3 revenue June 30", "recommendation_text": "SBC非現金加算と将来交付株数の市場買付費用を別建てにして終価を再評価。2036-11-06までの旧株主現金受取と台帳は元モデルから変更なし。" }

10年期待年率5.00%

資本コスト9.00%

直近終値11.65 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

{
"investment_thesis": "規制会計・給与・税務業務に組み込まれるSaaSの更新粘着性とアップセル。AI Agentの生産性上昇で価格交渉力が拡大する一方、低価格AIによる競争・統合・顧客情報セキュリティが主要リスク。",
"key_finding": "2026 H1のIFRS資本は£220mで、£602mの買戻し計上（現金£353m、将来決済負債£257m）により縮小。割安さはPBRからではなく将来SBC控除後の利益と再投資・旧株主現金から判断。",
"as_of_disciplines": [
"2026年度通期決算は2026-11-19予定、2026-11-06に存在しない通期IFRS数値を実績扱いしない",
"決算期は9月末、暦年2027-2036モデルと混同しない",
"SBCはIFRS営業費用に残し、非現金戻しはFCF/株式資本の連結目的だけ",
"従業員信託株は経済的流通株式から控除",
"旧株主の比例応札と外部発行・従業員付与を年内日付で処理し、会社全体時価総額と同一視しない",
"2026-11-06～2036-11-06は暦日で3653日、CF割引指数は日数/365.25"
],
"risks": [
"中小企業景気・倒産",
"税法改正やe-invoicing対応費",
"Intuit・Microsoft・Oracle・Xero等とAI-native競争",
"クラウド停止・サイバー・顧客会計情報",
"外国通貨のGBP換算",
"買収ののれん減損とM&A統合",
"高負債下の積極還元",
"SBC交付・自己株式・信託を混同した一株評価の誤り"
],
"terminal_sbc_correction": "旧版のSBC非現金加算額＝従業員交付株の市場買戻し資金という仮定を撤回。現金必要額は交付株数×予想市場買付価格、SBC加算は別計算して差額を終価に反映。"
}

2026年10月30日の自己株・従業員信託控除後株数を11月6日の代理値として使用。実際の11月6日時点の信託株数と株数の変化は未確認。2036年までの配当・買戻し・交付は仮定であり、予測日が来たら実績検証まで期待リターン表示を停止する。終価は将来交付株の市場買戻し費用をSBC非現金加算と分離して反映。企業予測ではない。

事業

products

内容を開く

1: Sage Intacct
2: Sage 50
3: Sage 200
4: Sage X3
5: Sage Accounting / Business Cloud
6: Sage People / payroll
7: Sage Copilot and intelligent agents

model

small and mid-sized business accounting, finance, HR and payroll SaaS; recurring subscriptions, cloud-native and hybrid/on-prem migration, compliance localization; revenue includes non-recurring services and licence

renewal_rate_by_value

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FY2025

1.01

H1_2026

1.02

definition

renewal by value includes up-sell and price; not gross-logo retention or churn

出典番号

1: S6
2: S7

customers_absolute

未確認

customer_count_uncertainty

会社は millions の小中堅企業・会計事務所と記述。2026-11-06時点の比較可能な有償顧客数とロゴ解約率/ARPUの精確な系列を検証できないためnull。

ARPU_actual

未確認

logo_churn_actual

未確認

price_mix_assumptions_are_explicit_scenario_inputs

はい

growth_factors

内容を開く

1: 規制対応のローカライズ
2: 代理店・会計士エコシステム
3: Sage Intacct中堅領域
4: AI機能の追加課金
5: 銀行やFintech連携
6: 自動仕訳/売掛・買掛業務の埋め込み

H1_2026_KPIs

内容を開く

ARR_oku: 27.27
ARR_growth: 0.11
renewal_by_value: 1.02
Business_Cloud_oku: 11.62
cloud_native_oku: 5.18
cloud_native_growth: 0.25

FY2025_KPIs

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ARR_oku: 25.74
renewal_by_value: 1.01
recurring_penetration: 0.97
software_subscription_revenue_oku: 20.93

cyclicality

中小企業数減少・新設鈍化に影響するが継続業務の更新需要は相対的に景気耐性。更新維持率はアップセル込みの値で顧客数の純残高を示さない。

R_and_D_capitalisation

H1 2026 R&D £208mは製品開発の支出指標で営業費用に相当する部分を再度FCFから控除しない。別途H1無形資産取得現金£12mと有形£15mを計上。

競争力・事業の質

positive

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1: 継続課金比率97%（FY25とH1 2026）
2: 更新価値率102%（上期2026）
3: Q3累計売上10% organic成長
4: H1会社開示のキャッシュコンバージョン116%
5: UK・EU税務ローカライズのスイッチングコスト

negative

内容を開く

1: H1 2026 net debt/underlying EBITDA 2.0x
2: £220mという小さいIFRS book capital
3: 買戻し約束を公正に認識するためH1 book capitalが大きく変動
4: 競争激化で単価・ロゴ更新低下に弱い
5: 成長に必要なR&Dが高水準
6: のれん£2,276m対book equity £220m

goodwill_vs_equity_2026_h1

goodwill_oku: 22.76
equity_oku: 2.2
注記: のれんと規制資本/現金の混同禁止。IFRS帳簿資本は自己株政策により低い。

valuation_style

市場PER/PBRの参照を禁止し、FY2036時点の次12か月IFRS親会社利益、定常再投資率g/限界自己資本ROE、共通k、必要負債修復額のGordon-FCFEで終価を算定。

業界と環境

competition

large_platforms

1: Microsoft Dynamics 365
2: Oracle NetSuite
3: SAP

SMB_SaaS

1: Intuit QuickBooks
2: Xero
3: Zoho

AI_native_threat

汎用AI agentによる入力・レポート自動化が顧客の支払意思額を圧迫する可能性。監査証跡・法令遵守・正確な計算はSageの防壁。

regulatory

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1: UK Making Tax Digital for Income Tax
2: French e-invoicing
3: Spanish anti-fraud invoicing rules
4: EU GDPR / data sovereignty
5: payment and payroll data protection

内容を開く

H1_2026_USD_per_GBP: 1.34
H1_2025_USD_per_GBP: 1.27
H1_2026_EUR_per_GBP: 1.15
H1_2025_EUR_per_GBP: 1.2
effect: 売上各地域はGBP換算。FY2026上期のUSD安・EUR高の相殺。企業は損益換算に為替ヘッジを行わない。

capital_intensity

SaaSとして有形CAPEXは低めだがR&Dを継続費用化しているため、FCFの単純なCAPEXだけで必要再投資を過小評価しない。

財務・資本配分

historic

内容を開く

fy2025

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dividend_per_share_p: 21.85
cash_dividends_oku: 2.07
sbc_pnl_expense_oku: 0.51
treasury_award_issued_shares: 6855500
ebt_award_delivery_shares: 420118
cash_capex_oku: 0.59

h1_2026

内容を開く

dividends_paid_oku

1.36

buybacks_recognized_equity_oku

6.02

cash_paid_for_buybacks_oku

3.53

liability_for_buyback_oku

2.57

sbc_pnl_expense_oku

0.27

sbc_equity_credit_including_tax_oku

0.26

sbc_treasury_shares_delivered

4784153

sbc_ebt_shares_delivered

1292492

出典番号

1: S2

october_2026_share_reconciliation

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start_asof

2026-03-31

end_asof

2026-10-30

issued_start

987929800

issued_end

959080955

issued_share_reduction

28848845

treasury_start

55085354

treasury_end

53451016

treasury_net_release

1634338

ebt_start

6772356

ebt_end

5021344

ebt_net_release

1751012

outside_shares_start

926072090

outside_shares_end

900608595

outside_shares_net_reduction

25463495

identity

-28,848,845 cancellations + 1,634,338 net treasury release + 1,751,012 net EBT release = -25,463,495 outside-shares change; net movements cannot be decomposed into gross award vesting vs trading absent detailed rollforward

出典番号

1: S2
2: S4

shareholder_returns_2026_known_prior_to_anchor

内容を開く

kind

FY2025_final

amount_pence

14.4

ex_date

2026-01-08

record_date

2026-01-09

payment_date

2026-02-10

状態

paid_pre_anchor

出典番号

1: S2
2: S16

内容を開く

kind

FY2026_interim

amount_pence

8.05

ex_date

2026-06-04

record_date

2026-06-05

payment_date

2026-07-03

状態

paid_pre_anchor

出典番号

1: S2
2: S16

next_final_at_basis

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declared: いいえ
per_share_pence: 未確認
ex_date: 未確認
payment_date: 未確認
explanation: FY2026 final dividend not announced by November 6; Nov19 FY26 results scheduled. No declared future cashflows as-of anchor.

debt

as_at_2026_03_31

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net_debt_oku

15.04

total_debt_oku

20.22

現金（億）

5.18

leverage_net_debt_to_underlying_EBITDA

liquidity_oku

11.48

rating

S&P BBB+ stable as disclosed in May 2026

RCF_undrawn_oku

6.3

RCF_expiry

2029-12

notes

内容を開く

1: EUR500m 7y 3.821% 2026-02
2: GBP300m 12y 5.625% 2025-03
3: EUR500m 5y 3.82% 2023-02
4: GBP400m 12y 2.875% 2022-02
5: GBP350m 10y 1.625% 2021-02

出典番号

1: S2

as_of_2026_11_06_financial_debt

estimation_only_from_march_and_cashflow_bridge

ma_known_before_basis

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entity

Criterion

日付

2025-10-02

consideration_known_GBP_m

acquisition_date_fair_value_consideration_GBP_m

recognised_contingent_fair_value_GBP_m

contingent_up_to_GBP_m

出典番号

1: S1

内容を開く

entity

Akao

日付

2026-01

consideration_known_GBP_m

未確認

出典番号

1: S7

内容を開く

entity

Doyen AI

日付

2026-04-17

consideration_known_GBP_m

出典番号

1: S7

内容を開く

entity

Bangert

日付

2026-08-18

consideration_known_GBP_m

未確認

出典番号

1: S14

内容を開く

entity

Paperless Environments

日付

2026-10-01

consideration_known_GBP_m

未確認

出典番号

1: S11

内容を開く

entity

WholeHelp

日付

2026-10-05

consideration_known_GBP_m

未確認

出典番号

1: S12

内容を開く

entity

MoovinCloud

日付

2026-10-05

consideration_known_GBP_m

未確認

出典番号

1: S13

historical_practice

H1 FY26 2件の£300m買戻しは消却中心。将来シナリオでは信託・自己株バッファ25mを維持するよう一部を自己株として保有する仮定であり、将来の実施方針の開示ではない。

future_share_dilution_method

旧株主はpro_rataの割合で自己株買いに応札。現金は旧株主比率だけ受領し、同じ株数だけ旧株主持分から減少。従業員交付はまずEBT、その後treasury、新発行の順で処理。新規第三者増資現金は会社資本とnet debtだけを変え、旧株主に現金収入は発生しない。

terminal_sbc_normalisation

実績のIFRS2費用は付与時の評価、将来の株式市場買戻し価格は権利確定時の予測値。2026-2036年の一般買戻しと2037年以降の定常補填費用を二重控除しない。

評価の前提と確認

start

2026-11-06

end

2036-11-06

days

3653

terminal_year_actual_days_div_365_25

10.001368925394

basis_holder_aggregate_initial_cash_cost_oku

104.920901317

all_horizon_ledger_dates

initial_2026_stub

1: 2026-11-06
2: 2027-01-01

2027_to_2035_each_calendar_year

はい

final_2036_partial

1: 2036-01-01
2: 2036-11-06

book_equity_and_share_cutoff

2026-11-06 book equity/debt are explicitly estimated; 2026-10-30 share denominator is confirmed dated proxy; none of pre-2026-11-06 dividends/buybacks included as future holder cashflow

confirmed_dividends_ex_date_handled

Jan/Jun 2026 amounts already ex-date and paid before anchor; future 2027-2036 dividend ex/payment dates forecasts (not confirmed). Declared at ex-date as bookkeeping proxy, paid at pay_date; payable prevents double counting.

no_cashflows_post_end

はい

terminal_2036_full_year_is_reference_only

はい

value_formula

2036-11-06までの旧株主現金受取をPV化＋残存旧株主持分 × [将来12か月IFRS利益−成長再投資＋SBC加算−将来交付株相殺市場買付資金]の継続価値。希薄化ケースはdで終価分母を変更。

stock_rules

内容を開く

1: issuance to employee award not shareholder cash
2: treasury shares and EBT excluded until released
3: cancellation lowers issued while retention raises treasury
4: future employees receive economic shares and dilute old holder
5: buyback cash received only with tendered shares removed from cohort
6: no double subtract existing buyback liability paid after March 2026 from equity

出典番号

1: S2
2: S4
3: S5

terminal_sbc_future_cash_handling

2036-11-06を超える補填市場買戻しは終価FCFEのみの仮定。2036年までの買戻しは既存時点別CFと資本台帳に一回だけ保持。

all_future_ex_dates_assumptions

はい

資本コストの前提

資本コスト

9.00%

basis

nominal_GBP_cost_of_common_equity

状態

analyst_assumption_not_observed

risk_free_proxy

0.042

equity_risk_and_company_risk_component

0.048

common_k_for_all_five_cases

はい

terminal_growth_bounds

1: 0.01
2: 0.034

sensitivity_k

1: 0.08
2: 0.1

comment

k=9.0%の一律名目GBP自己資本コスト、国債・株式リスクプレミアムの一例であり市場PERから逆算しない。

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
強気	10.0%	70.74	196.69
やや強気	20.0%	61.82	149.52
中立	40.0%	52.52	117.64
やや弱気	20.0%	30.37	53.95
弱気	10.0%	18.45	22.72

強気（確率 10.0%）

AI機能とIntacctの浸透で高単価・新規顧客がともに伸び、規模の経済が持続。

確率の根拠

顧客・単価・買収・競争の将来展開に対する分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

やや強気（確率 20.0%）

更新維持率と単価上昇が続き、米国・UKIAのクラウド化が利益率を押し上げる。

確率の根拠

顧客・単価・買収・競争の将来展開に対する分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

中立（確率 40.0%）

課金と顧客増の双方が持続するが成熟に伴い成長率鈍化。R&DとM&Aを控除した利益を評価。

確率の根拠

顧客・単価・買収・競争の将来展開に対する分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

やや弱気（確率 20.0%）

AIの競合圧力で単価と更新が弱まり、開発費・販管費の固定費効果が悪化。

確率の根拠

顧客・単価・買収・競争の将来展開に対する分析上の確率仮定。

事業別の前提

内容を開く

id: consolidated
数量: 1
価格・単価: 36.090575
営業利益: 7.182025
注記: 2036暦年全体の予測（基準日から10年を超える部分を含む表示参考値）。地域別と10年終了時点までの財務は年次台帳参照。

日付別キャッシュフロー

内容を開く

year: 0.10677618069815
想定日: 2026-12-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.16974674880219
想定日: 2027-01-07
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.26283367556468
想定日: 2027-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.262833676
想定日: 2027-02-10
金額: 1.341906807
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-01-07
ex_date_status: forecast_unconfirmed

内容を開く

year: 0.39698836413415
想定日: 2027-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.51745379876797
想定日: 2027-05-14
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.517453799
想定日: 2027-05-14
金額: 0.465137602
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 0.57221081451061
想定日: 2027-06-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.65982203969884
想定日: 2027-07-05
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.65982204
想定日: 2027-07-05
金額: 0.735245264
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-06-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 0.89801505817933
想定日: 2027-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 0.977412731
想定日: 2027-10-29
金額: 0.379014417
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 0.97741273100616
想定日: 2027-10-29
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.1663244353183
想定日: 2028-01-06
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.2621492128679
想定日: 2028-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.262149213
想定日: 2028-02-10
金額: 1.355164808
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-01-06
ex_date_status: forecast_unconfirmed

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year: 1.3990417522245
想定日: 2028-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.5222450376454
想定日: 2028-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.522245038
想定日: 2028-05-15
金額: 0.46978468
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 1.5687885010267
想定日: 2028-06-01
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.656399726
想定日: 2028-07-03
金額: 0.742489811
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-06-01
ex_date_status: forecast_unconfirmed

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year: 1.6563997262149
想定日: 2028-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.8973305954825
想定日: 2028-09-29
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.9822039698836
想定日: 2028-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 1.98220397
想定日: 2028-10-30
金額: 0.382785259
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 2.1629021218344
想定日: 2029-01-04
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.2696783025325
想定日: 2029-02-12
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.269678303
想定日: 2029-02-12
金額: 1.36848818
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-01-04
ex_date_status: forecast_unconfirmed

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year: 2.3956194387406
想定日: 2029-03-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.5215605749487
想定日: 2029-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.521560575
想定日: 2029-05-15
金額: 0.474440417
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 2.5845311430527
想定日: 2029-06-07
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.6557152635181
想定日: 2029-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.655715264
想定日: 2029-07-03
金額: 0.749769557
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-06-07
ex_date_status: forecast_unconfirmed

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year: 2.8939082819986
想定日: 2029-09-28
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 2.981519507
想定日: 2029-10-30
金額: 0.386562603
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 2.9815195071869
想定日: 2029-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.1594798083504
想定日: 2030-01-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.266255989
想定日: 2030-02-11
金額: 1.381875509
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-01-03
ex_date_status: forecast_unconfirmed

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year: 3.2662559890486
想定日: 2030-02-11
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.3921971252567
想定日: 2030-03-29
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.520876112
想定日: 2030-05-15
金額: 0.479103611
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 3.5208761122519
想定日: 2030-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.5811088295688
想定日: 2030-06-06
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.6550308008214
想定日: 2030-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.655030801
想定日: 2030-07-03
金額: 0.75708394
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-06-06
ex_date_status: forecast_unconfirmed

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year: 3.8603696098563
想定日: 2030-09-16
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.8986995208761
想定日: 2030-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 3.980835044
想定日: 2030-10-30
金額: 0.388907443
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 3.9808350444901
想定日: 2030-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.1560574948665
想定日: 2031-01-02
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.2628336755647
想定日: 2031-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.262833676
想定日: 2031-02-10
金額: 1.395344911
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-01-02
ex_date_status: forecast_unconfirmed

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year: 4.3969883641342
想定日: 2031-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.5201916495551
想定日: 2031-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.52019165
想定日: 2031-05-15
金額: 0.48199803
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 4.5776865160849
想定日: 2031-06-05
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.654346338
想定日: 2031-07-03
金額: 0.764455647
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-06-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 4.6543463381246
想定日: 2031-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.8980150581793
想定日: 2031-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 4.9801505817933
想定日: 2031-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 4.980150582
想定日: 2031-10-30
金額: 0.392693507
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 5.1526351813826
想定日: 2032-01-01
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 5.2621492128679
想定日: 2032-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 5.262149213
想定日: 2032-02-10
金額: 1.408900819
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-01-01
ex_date_status: forecast_unconfirmed

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year: 5.3990417522245
想定日: 2032-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 5.5195071868583
想定日: 2032-05-14
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 5.519507187
想定日: 2032-05-14
金額: 0.486671309
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 5.574264202601
想定日: 2032-06-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 5.6618754277892
想定日: 2032-07-05
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 5.661875428
想定日: 2032-07-05
金額: 0.771861778
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-06-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 5.9000684462697
想定日: 2032-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 5.979466119
想定日: 2032-10-29
金額: 0.396484079
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 5.9794661190965
想定日: 2032-10-29
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.1683778234086
想定日: 2033-01-06
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.2642026009582
想定日: 2033-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.264202601
想定日: 2033-02-10
金額: 1.422519575
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-01-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 6.3983572895277
想定日: 2033-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

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year: 6.516084873
想定日: 2033-05-13
金額: 0.491349757
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 6.5160848733744
想定日: 2033-05-13
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.570841889117
想定日: 2033-06-02
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.658453114
想定日: 2033-07-04
金額: 0.77930182
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-06-02
ex_date_status: forecast_unconfirmed

内容を開く

year: 6.6584531143053
想定日: 2033-07-04
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.8993839835729
想定日: 2033-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.9760438056126
想定日: 2033-10-28
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 6.976043806
想定日: 2033-10-28
金額: 0.400278544
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 7.1649555099247
想定日: 2034-01-05
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.263518138
想定日: 2034-02-10
金額: 1.436200051
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-01-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 7.2635181382615
想定日: 2034-02-10
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.3976728268309
想定日: 2034-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.520876112
想定日: 2034-05-15
金額: 0.496032239
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 7.5208761122519
想定日: 2034-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.5674195756331
想定日: 2034-06-01
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.6550308008214
想定日: 2034-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.655030801
想定日: 2034-07-03
金額: 0.786775625
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-06-01
ex_date_status: forecast_unconfirmed

内容を開く

year: 7.895961670089
想定日: 2034-09-29
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 7.980835044
想定日: 2034-10-30
金額: 0.404075884
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 7.9808350444901
想定日: 2034-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

内容を開く

year: 8.1615331964408
想定日: 2035-01-04
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

100

内容を開く

year: 8.268309377
想定日: 2035-02-12
金額: 1.449942682
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-01-04
ex_date_status: forecast_unconfirmed

101

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year: 8.2683093771389
想定日: 2035-02-12
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

102

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year: 8.394250513347
想定日: 2035-03-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

103

内容を開く

year: 8.5201916495551
想定日: 2035-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

104

内容を開く

year: 8.52019165
想定日: 2035-05-15
金額: 0.500718066
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

105

内容を開く

year: 8.5831622176591
想定日: 2035-06-07
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

106

内容を開く

year: 8.654346338
想定日: 2035-07-03
金額: 0.794282849
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-06-07
ex_date_status: forecast_unconfirmed

107

内容を開く

year: 8.6543463381246
想定日: 2035-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

108

内容を開く

year: 8.8925393566051
想定日: 2035-09-28
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

109

内容を開く

year: 8.9801505817933
想定日: 2035-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

110

内容を開く

year: 8.980150582
想定日: 2035-10-30
金額: 0.407875355
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

111

内容を開く

year: 9.1581108829569
想定日: 2036-01-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

112

内容を開く

year: 9.264887063655
想定日: 2036-02-11
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

113

内容を開く

year: 9.264887064
想定日: 2036-02-11
金額: 1.463745961
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

114

内容を開く

year: 9.3990417522245
想定日: 2036-03-31
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

115

内容を開く

year: 9.5222450376454
想定日: 2036-05-15
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

116

内容を開く

year: 9.522245038
想定日: 2036-05-15
金額: 0.428076124
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

117

内容を開く

year: 9.5797399041752
想定日: 2036-06-05
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

118

内容を開く

year: 9.656399726
想定日: 2036-07-03
金額: 0.802393492
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

119

内容を開く

year: 9.6563997262149
想定日: 2036-07-03
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

120

内容を開く

year: 9.9000684462697
想定日: 2036-09-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

121

内容を開く

year: 9.9822039698836
想定日: 2036-10-30
金額: 0
event_type: forecast_revalidation
注記: 将来イベントの仮定日。会社発表・実行時に権利、株数、資本と評価を再検証。

122

内容を開く

year: 9.98220397
想定日: 2036-10-30
金額: 0.348688495
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

その他の数値・前提

状態

hypothetical_scenario_not_company_guidance

narrative

AIの競合圧力で単価と更新が弱まり、開発費・販管費の固定費効果が悪化。

assumptions

内容を開く

customer_growth

1: 0.018
2: 0.007

arpu_growth

1: 0.019
2: 0.014

fx_growth

1: -0.011
2: 0

mna_rev_growth

1: 0.004
2: 0

margin

1: 0.201
2: 0.199

rd_ratio

1: 0.163
2: 0.166

sbc_ratio

1: 0.022
2: 0.023

capex_ratio

0.026

da_ratio

0.035

acq_amort_ratio

0.021

mna_spend_ratio

0.015

wc_delta_ratio

0.012

effective_tax

0.26

gross_interest_rate

0.043

cash_interest_rate

0.017

leverage_ceiling

2.25

div_final_2027_p

14.9

div_interim_2027_p

8.2

div_growth

0.018

buyback_2027_oku

0.85

buyback_growth

0.018

buyback_execution_price_growth

0.012

annual_awards_2027

7100000

awards_growth

0.01

external_issue_year

2030

external_issue_oku

0.4

terminal_g

0.018

incremental_roe

0.15

terminal_debt_target_ebitda

1.6

normalised_value_retention

0.985

terminal_margin

0.2

annual_ledger_2027_to_2036

内容を開く

calendar_year

2027

date_start

2027-01-01

date_end_exclusive

2028-01-01

balance_as_of

2027-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

28.849576

revenue_segment_oku

North_America: 13.111411
UKIA: 8.42725
Europe: 7.310915

software_subscription_oku

24.406741

other_recurring_oku

3.577347

non_recurring_oku

0.865487

cloud_native_component_oku

11.337883

cost_of_sales_oku

2.192568

sga_oku

20.858243

of_which_rd_expensed_oku

4.702481

of_which_sbc_expensed_oku

0.634691

of_which_acquired_intangibles_amortization_oku

0.605841

other_sga_ex_rd_sbc_amort_oku

14.915231

statutory_operating_profit_oku

5.798765

finance_income_oku

0.087776

finance_costs_oku

0.8944

income_tax_oku

1.297957

parent_profit_after_sbc_oku

3.694184

depreciation_amortization_noncash_addback_oku

1.009735

sbc_noncash_addback_fcf_only_oku

0.634691

capex_total_cash_oku

0.750089

of_which_capitalised_software_oku

0.315037

working_capital_reinvestment_oku

0.010195

acquisition_cash_spend_oku

0.432744

fcf_pre_ma_and_payout_oku

4.578326

fcf_after_ma_before_payout_oku

4.145583

sbc_net_credit_to_equity_oku

0.609303

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 959080955
自己株式数: 52494874
ebt_shares: 4811459
economic_outstanding_shares: 901774622
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.998706964056
親会社持分（億）: 4.946829
net_debt_oku: 15.636681
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 5.163319
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.354385

closing

内容を開く

発行済株式数: 951847569
自己株式数: 46672874
ebt_shares: 3533459
economic_outstanding_shares: 901641236
old_holder_remaining_shares: 893424934
old_holder_ownership_fraction: 0.990887393265
親会社持分（億）: 6.317693
net_debt_oku: 14.423722
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 6.376278
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.635668

capital_bridge_oku

内容を開く

opening_parent_equity: 4.946829
profit_post_sbc: 3.694184
sbc_equity_credit: 0.609303
dividends_recognised_in_equity: 2.082624
repurchases_deducted_from_equity: 0.85
cash_equity_issue_to_external: 0
closing_parent_equity: 6.317693
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 15.636681
pre_ma_fcf_reduces_net_debt: 4.578326
ma_cash_outlays: 0.432744
paid_dividends: 2.082624
paid_repurchases: 0.85
third_party_equity_cash_receipts: 0
closing_net_debt: 14.423722
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 959080955
opening_treasury: 52494874
opening_ebt: 4811459
opening_economic_outstanding: 901774622
employee_awards_delivered_shares: 7100000
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7183661
closing_issued: 951847569
closing_treasury: 46672874
closing_ebt: 3533459
closing_economic_outstanding: 901641236
closing_old_holder_remaining_shares: 893424934

gross_declared_dividends_oku

2.082624

gross_paid_dividends_oku

2.082624

gross_buybacks_oku

0.85

old_holder_dividend_cash_oku

2.077152

old_holder_tender_cash_oku

0.844152

old_holder_cashflow_total_oku

2.921304

gross_dividend_pence_full_year_forecast

23.1

gross_buyback_budget_oku

0.85

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2027-01-07
time_since_base_years: 0.169746749
状態: explicit_forecast_assumption
shares_before: 901774622
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.149
company_dividend_declared_oku: 1.343644
old_holder_entitlement_oku: 1.341907
shares_after: 901774622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.998706964056
parent_equity_after_oku: 3.673927
net_debt_after_oku: 15.568534
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2027-01-07

内容を開く

event_type: div_pay
想定日: 2027-02-10
time_since_base_years: 0.262833676
状態: explicit_forecast_assumption
shares_before: 901774622
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.343644
old_holder_cash_received_oku: 1.341907
shares_after: 901774622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.998706964056
parent_equity_after_oku: 4.0748
net_debt_after_oku: 16.526015
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2027-01-07

内容を開く

event_type: award
想定日: 2027-03-31
time_since_base_years: 0.396988364
状態: explicit_forecast_assumption
shares_before: 901774622
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2794560
released_from_ebt: 613440
employee_awards_delivered: 3408000
shares_after: 905182622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.994946846207
parent_equity_after_oku: 4.652528
net_debt_after_oku: 15.969484

内容を開く

event_type: buyback
想定日: 2027-05-14
time_since_base_years: 0.517453799
状態: explicit_forecast_assumption
shares_before: 905182622
old_holder_shares_before: 900608595
shares_repurchased: 3988182
cancelled_shares: 3988182
into_treasury_shares: 0
old_holder_shares_tendered: 3968029
old_holder_cash_oku: 0.465138
company_cash_oku: 0.4675
execution_price_gbp_assumed: 11.722132
old_holder_ratio_before: 0.994947
shares_after: 901194440
old_holder_shares_after: 896640566
old_holder_equity_fraction_after: 0.994946846321
parent_equity_after_oku: 4.703805
net_debt_after_oku: 15.937243

内容を開く

event_type: div_ex
想定日: 2027-06-03
time_since_base_years: 0.572210815
状態: explicit_forecast_assumption
shares_before: 901194440
old_holder_shares_before: 896640566
dividend_type: interim
dividend_gbp_per_share: 0.082
company_dividend_declared_oku: 0.738979
old_holder_entitlement_oku: 0.735245
shares_after: 901194440
old_holder_shares_after: 896640566
old_holder_equity_fraction_after: 0.994946846321
parent_equity_after_oku: 4.200633
net_debt_after_oku: 15.710088
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2027-06-03

内容を開く

event_type: div_pay
想定日: 2027-07-05
time_since_base_years: 0.65982204
状態: explicit_forecast_assumption
shares_before: 901194440
old_holder_shares_before: 896640566
dividend_type: interim
company_dividend_paid_oku: 0.738979
old_holder_cash_received_oku: 0.735245
shares_after: 901194440
old_holder_shares_after: 896640566
old_holder_equity_fraction_after: 0.994946846321
parent_equity_after_oku: 4.577925
net_debt_after_oku: 16.085619
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2027-06-03

内容を開く

event_type: award
想定日: 2027-09-30
time_since_base_years: 0.898015058
状態: explicit_forecast_assumption
shares_before: 901194440
old_holder_shares_before: 896640566
issued_new_employee_shares: 0
released_from_treasury: 3027440
released_from_ebt: 664560
employee_awards_delivered: 3692000
shares_after: 904886440
old_holder_shares_after: 896640566
old_holder_equity_fraction_after: 0.990887393561
parent_equity_after_oku: 5.603688
net_debt_after_oku: 15.097494

内容を開く

event_type: buyback
想定日: 2027-10-29
time_since_base_years: 0.977412731
状態: explicit_forecast_assumption
shares_before: 904886440
old_holder_shares_before: 896640566
shares_repurchased: 3245204
cancelled_shares: 3245204
into_treasury_shares: 0
old_holder_shares_tendered: 3215632
old_holder_cash_oku: 0.379014
company_cash_oku: 0.3825
execution_price_gbp_assumed: 11.786624
old_holder_ratio_before: 0.990887
shares_after: 901641236
old_holder_shares_after: 893424934
old_holder_equity_fraction_after: 0.990887393265
parent_equity_after_oku: 5.563109
net_debt_after_oku: 15.150619

timed_holder_cashflows_this_period

内容を開く

year: 0.262833676
想定日: 2027-02-10
金額: 1.341906807
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-01-07
ex_date_status: forecast_unconfirmed

内容を開く

year: 0.517453799
想定日: 2027-05-14
金額: 0.465137602
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 0.65982204
想定日: 2027-07-05
金額: 0.735245264
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-06-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 0.977412731
想定日: 2027-10-29
金額: 0.379014417
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2027

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.018
arpu_mix_assumed: 0.019
gbp_fx_translation_assumed: -0.011
ma_contribution_assumed: 0.004

full_year_revenue_oku

28.849576

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.192568
rd_expense_oku: 4.702481
sbc_expense_oku: 0.634691
acquired_intangibles_amortization_oku: 0.605841
other_sga_expense_oku: 14.915231

full_year_parent_net_income_oku

3.694184

full_year_fcf_before_distributions_and_ma_oku

4.578326

内容を開く

calendar_year

2028

date_start

2028-01-01

date_end_exclusive

2029-01-01

balance_as_of

2028-12-31

days_in_scope

366

whole_year_days

366

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

29.695141

revenue_segment_oku

North_America: 13.569195
UKIA: 8.677514
Europe: 7.448432

software_subscription_oku

25.151785

other_recurring_oku

3.622807

non_recurring_oku

0.920549

cloud_native_component_oku

11.907752

cost_of_sales_oku

2.246932

sga_oku

21.486085

of_which_rd_expensed_oku

4.850206

of_which_sbc_expensed_oku

0.656593

of_which_acquired_intangibles_amortization_oku

0.613205

other_sga_ex_rd_sbc_amort_oku

15.366081

statutory_operating_profit_oku

5.962125

finance_income_oku

0.108397

finance_costs_oku

0.8944

income_tax_oku

1.345792

parent_profit_after_sbc_oku

3.83033

depreciation_amortization_noncash_addback_oku

1.03933

sbc_noncash_addback_fcf_only_oku

0.656593

capex_total_cash_oku

0.772074

of_which_capitalised_software_oku

0.324271

working_capital_reinvestment_oku

0.010147

acquisition_cash_spend_oku

0.445427

fcf_pre_ma_and_payout_oku

4.744032

fcf_after_ma_before_payout_oku

4.298605

sbc_net_credit_to_equity_oku

0.630329

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 951847569
自己株式数: 46672874
ebt_shares: 3533459
economic_outstanding_shares: 901641236
old_holder_remaining_shares: 893424934
old_holder_ownership_fraction: 0.990887393265
親会社持分（億）: 6.317693
net_debt_oku: 14.423722
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 6.376278
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.635668

closing

内容を開く

発行済株式数: 944571713
自己株式数: 40792654
ebt_shares: 2242679
economic_outstanding_shares: 901536380
old_holder_remaining_shares: 886256077
old_holder_ownership_fraction: 0.983050819314
親会社持分（億）: 7.793245
net_debt_oku: 13.110223
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 7.689777
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.925196

capital_bridge_oku

内容を開く

opening_parent_equity: 6.317693
profit_post_sbc: 3.83033
sbc_equity_credit: 0.630329
dividends_recognised_in_equity: 2.119806
repurchases_deducted_from_equity: 0.8653
cash_equity_issue_to_external: 0
closing_parent_equity: 7.793245
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 14.423722
pre_ma_fcf_reduces_net_debt: 4.744032
ma_cash_outlays: 0.445427
paid_dividends: 2.119806
paid_repurchases: 0.8653
third_party_equity_cash_receipts: 0
closing_net_debt: 13.110223
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 951847569
opening_treasury: 46672874
opening_ebt: 3533459
opening_economic_outstanding: 901641236
employee_awards_delivered_shares: 7171000
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7168857
closing_issued: 944571713
closing_treasury: 40792654
closing_ebt: 2242679
closing_economic_outstanding: 901536380
closing_old_holder_remaining_shares: 886256077

gross_declared_dividends_oku

2.119806

gross_paid_dividends_oku

2.119806

gross_buybacks_oku

0.8653

old_holder_dividend_cash_oku

2.097655

old_holder_tender_cash_oku

0.85257

old_holder_cashflow_total_oku

2.950225

gross_dividend_pence_full_year_forecast

23.516

gross_buyback_budget_oku

0.8653

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2028-01-06
time_since_base_years: 1.166324435
状態: explicit_forecast_assumption
shares_before: 901641236
old_holder_shares_before: 893424934
dividend_type: final
dividend_gbp_per_share: 0.151682
company_dividend_declared_oku: 1.367627
old_holder_entitlement_oku: 1.355165
shares_after: 901641236
old_holder_shares_after: 893424934
old_holder_equity_fraction_after: 0.990887393265
parent_equity_after_oku: 5.011003
net_debt_after_oku: 14.364998
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2028-01-06

内容を開く

event_type: div_pay
想定日: 2028-02-10
time_since_base_years: 1.262149213
状態: explicit_forecast_assumption
shares_before: 901641236
old_holder_shares_before: 893424934
dividend_type: final
company_dividend_paid_oku: 1.367627
old_holder_cash_received_oku: 1.355165
shares_after: 901641236
old_holder_shares_after: 893424934
old_holder_equity_fraction_after: 0.990887393265
parent_equity_after_oku: 5.437569
net_debt_after_oku: 15.321556
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2028-01-06

内容を開く

event_type: award
想定日: 2028-03-31
time_since_base_years: 1.399041752
状態: explicit_forecast_assumption
shares_before: 901641236
old_holder_shares_before: 893424934
issued_new_employee_shares: 0
released_from_treasury: 2822506
released_from_ebt: 619574
employee_awards_delivered: 3442080
shares_after: 905083316
old_holder_shares_after: 893424934
old_holder_equity_fraction_after: 0.987118995794
parent_equity_after_oku: 6.046949
net_debt_after_oku: 14.734315

内容を開く

event_type: buyback
想定日: 2028-05-15
time_since_base_years: 1.522245038
状態: explicit_forecast_assumption
shares_before: 905083316
old_holder_shares_before: 893424934
shares_repurchased: 4011598
cancelled_shares: 4011598
into_treasury_shares: 0
old_holder_shares_tendered: 3959925
old_holder_cash_oku: 0.469785
company_cash_oku: 0.475915
execution_price_gbp_assumed: 11.863475
old_holder_ratio_before: 0.987119
shares_after: 901071718
old_holder_shares_after: 889465009
old_holder_equity_fraction_after: 0.987118995338
parent_equity_after_oku: 6.119475
net_debt_after_oku: 14.681713

内容を開く

event_type: div_ex
想定日: 2028-06-01
time_since_base_years: 1.568788501
状態: explicit_forecast_assumption
shares_before: 901071718
old_holder_shares_before: 889465009
dividend_type: interim
dividend_gbp_per_share: 0.083476
company_dividend_declared_oku: 0.752179
old_holder_entitlement_oku: 0.74249
shares_after: 901071718
old_holder_shares_after: 889465009
old_holder_equity_fraction_after: 0.987118995338
parent_equity_after_oku: 5.574486
net_debt_after_oku: 14.482051
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2028-06-01

内容を開く

event_type: div_pay
想定日: 2028-07-03
time_since_base_years: 1.656399726
状態: explicit_forecast_assumption
shares_before: 901071718
old_holder_shares_before: 889465009
dividend_type: interim
company_dividend_paid_oku: 0.752179
old_holder_cash_received_oku: 0.74249
shares_after: 901071718
old_holder_shares_after: 889465009
old_holder_equity_fraction_after: 0.987118995338
parent_equity_after_oku: 5.964489
net_debt_after_oku: 14.858396
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2028-06-01

内容を開く

event_type: award
想定日: 2028-09-29
time_since_base_years: 1.897330595
状態: explicit_forecast_assumption
shares_before: 901071718
old_holder_shares_before: 889465009
issued_new_employee_shares: 0
released_from_treasury: 3057714
released_from_ebt: 671206
employee_awards_delivered: 3728920
shares_after: 904800638
old_holder_shares_after: 889465009
old_holder_equity_fraction_after: 0.983050819865
parent_equity_after_oku: 7.036997
net_debt_after_oku: 13.824851

内容を開く

event_type: buyback
想定日: 2028-10-30
time_since_base_years: 1.98220397
状態: explicit_forecast_assumption
shares_before: 904800638
old_holder_shares_before: 889465009
shares_repurchased: 3264258
cancelled_shares: 3264258
into_treasury_shares: 0
old_holder_shares_tendered: 3208932
old_holder_cash_oku: 0.382785
company_cash_oku: 0.389385
execution_price_gbp_assumed: 11.928745
old_holder_ratio_before: 0.983051
shares_after: 901536380
old_holder_shares_after: 886256077
old_holder_equity_fraction_after: 0.983050819314
parent_equity_after_oku: 7.025427
net_debt_after_oku: 13.850147

timed_holder_cashflows_this_period

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year: 1.262149213
想定日: 2028-02-10
金額: 1.355164808
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-01-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 1.522245038
想定日: 2028-05-15
金額: 0.46978468
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 1.656399726
想定日: 2028-07-03
金額: 0.742489811
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-06-01
ex_date_status: forecast_unconfirmed

内容を開く

year: 1.98220397
想定日: 2028-10-30
金額: 0.382785259
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2028

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.016778
arpu_mix_assumed: 0.018444
gbp_fx_translation_assumed: -0.009778
ma_contribution_assumed: 0.003556

full_year_revenue_oku

29.695141

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.246932
rd_expense_oku: 4.850206
sbc_expense_oku: 0.656593
acquired_intangibles_amortization_oku: 0.613205
other_sga_expense_oku: 15.366081

full_year_parent_net_income_oku

3.83033

full_year_fcf_before_distributions_and_ma_oku

4.744032

内容を開く

calendar_year

2029

date_start

2029-01-01

date_end_exclusive

2030-01-01

balance_as_of

2029-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

30.534869

revenue_segment_oku

North_America: 14.028482
UKIA: 8.926258
Europe: 7.580128

software_subscription_oku

25.893569

other_recurring_oku

3.664184

non_recurring_oku

0.977116

cloud_native_component_oku

12.488761

cost_of_sales_oku

2.300293

sga_oku

22.110638

of_which_rd_expensed_oku

4.99754

of_which_sbc_expensed_oku

0.678553

of_which_acquired_intangibles_amortization_oku

0.619858

other_sga_ex_rd_sbc_amort_oku

15.814687

statutory_operating_profit_oku

6.123938

finance_income_oku

0.130726

finance_costs_oku

0.8944

income_tax_oku

1.393669

parent_profit_after_sbc_oku

3.966595

depreciation_amortization_noncash_addback_oku

1.06872

sbc_noncash_addback_fcf_only_oku

0.678553

capex_total_cash_oku

0.793907

of_which_capitalised_software_oku

0.333441

working_capital_reinvestment_oku

0.010077

acquisition_cash_spend_oku

0.458023

fcf_pre_ma_and_payout_oku

4.909885

fcf_after_ma_before_payout_oku

4.451862

sbc_net_credit_to_equity_oku

0.651411

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 944571713
自己株式数: 40792654
ebt_shares: 2242679
economic_outstanding_shares: 901536380
old_holder_remaining_shares: 886256077
old_holder_ownership_fraction: 0.983050819314
親会社持分（億）: 7.793245
net_debt_oku: 13.110223
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 7.689777
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.925196

closing

内容を開く

発行済株式数: 937252659
自己株式数: 34853632
ebt_shares: 938991
economic_outstanding_shares: 901460036
old_holder_remaining_shares: 879102100
old_holder_ownership_fraction: 0.9751980841
親会社持分（億）: 9.372655
net_debt_oku: 11.696957
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 9.103043
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.222911

capital_bridge_oku

内容を開く

opening_parent_equity: 7.793245
profit_post_sbc: 3.966595
sbc_equity_credit: 0.651411
dividends_recognised_in_equity: 2.157721
repurchases_deducted_from_equity: 0.880875
cash_equity_issue_to_external: 0
closing_parent_equity: 9.372655
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 13.110223
pre_ma_fcf_reduces_net_debt: 4.909885
ma_cash_outlays: 0.458023
paid_dividends: 2.157721
paid_repurchases: 0.880875
third_party_equity_cash_receipts: 0
closing_net_debt: 11.696957
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 944571713
opening_treasury: 40792654
opening_ebt: 2242679
opening_economic_outstanding: 901536380
employee_awards_delivered_shares: 7242710
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7153977
closing_issued: 937252659
closing_treasury: 34853632
closing_ebt: 938991
closing_economic_outstanding: 901460036
closing_old_holder_remaining_shares: 879102100

gross_declared_dividends_oku

2.157721

gross_paid_dividends_oku

2.157721

gross_buybacks_oku

0.880875

old_holder_dividend_cash_oku

2.118258

old_holder_tender_cash_oku

0.861003

old_holder_cashflow_total_oku

2.979261

gross_dividend_pence_full_year_forecast

23.939

gross_buyback_budget_oku

0.880875

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2029-01-04
time_since_base_years: 2.162902122
状態: explicit_forecast_assumption
shares_before: 901536380
old_holder_shares_before: 886256077
dividend_type: final
dividend_gbp_per_share: 0.154412
company_dividend_declared_oku: 1.392083
old_holder_entitlement_oku: 1.368488
shares_after: 901536380
old_holder_shares_after: 886256077
old_holder_equity_fraction_after: 0.983050819314
parent_equity_after_oku: 6.439119
net_debt_after_oku: 13.073633
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2029-01-04

内容を開く

event_type: div_pay
想定日: 2029-02-12
time_since_base_years: 2.269678303
状態: explicit_forecast_assumption
shares_before: 901536380
old_holder_shares_before: 886256077
dividend_type: final
company_dividend_paid_oku: 1.392083
old_holder_cash_received_oku: 1.368488
shares_after: 901536380
old_holder_shares_after: 886256077
old_holder_equity_fraction_after: 0.983050819314
parent_equity_after_oku: 6.93255
net_debt_after_oku: 13.990037
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2029-01-04

内容を開く

event_type: award
想定日: 2029-03-30
time_since_base_years: 2.395619439
状態: explicit_forecast_assumption
shares_before: 901536380
old_holder_shares_before: 886256077
issued_new_employee_shares: 0
released_from_treasury: 2850731
released_from_ebt: 625770
employee_awards_delivered: 3476501
shares_after: 905012881
old_holder_shares_after: 886256077
old_holder_equity_fraction_after: 0.979274544712
parent_equity_after_oku: 7.514545
net_debt_after_oku: 13.42898

内容を開く

event_type: buyback
想定日: 2029-05-15
time_since_base_years: 2.521560575
状態: explicit_forecast_assumption
shares_before: 905012881
old_holder_shares_before: 886256077
shares_repurchased: 4035416
cancelled_shares: 4035416
into_treasury_shares: 0
old_holder_shares_tendered: 3951780
old_holder_cash_oku: 0.47444
company_cash_oku: 0.484482
execution_price_gbp_assumed: 12.005739
old_holder_ratio_before: 0.979275
shares_after: 900977465
old_holder_shares_after: 882304297
old_holder_equity_fraction_after: 0.979274544897
parent_equity_after_oku: 7.612059
net_debt_after_oku: 13.352405

内容を開く

event_type: div_ex
想定日: 2029-06-07
time_since_base_years: 2.584531143
状態: explicit_forecast_assumption
shares_before: 900977465
old_holder_shares_before: 882304297
dividend_type: interim
dividend_gbp_per_share: 0.084979
company_dividend_declared_oku: 0.765638
old_holder_entitlement_oku: 0.74977
shares_after: 900977465
old_holder_shares_after: 882304297
old_holder_equity_fraction_after: 0.979274544897
parent_equity_after_oku: 7.137418
net_debt_after_oku: 13.071877
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2029-06-07

内容を開く

event_type: div_pay
想定日: 2029-07-03
time_since_base_years: 2.655715264
状態: explicit_forecast_assumption
shares_before: 900977465
old_holder_shares_before: 882304297
dividend_type: interim
company_dividend_paid_oku: 0.765638
old_holder_cash_received_oku: 0.74977
shares_after: 900977465
old_holder_shares_after: 882304297
old_holder_equity_fraction_after: 0.979274544897
parent_equity_after_oku: 7.466372
net_debt_after_oku: 13.520396
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2029-06-07

内容を開く

event_type: award
想定日: 2029-09-28
time_since_base_years: 2.893908282
状態: explicit_forecast_assumption
shares_before: 900977465
old_holder_shares_before: 882304297
issued_new_employee_shares: 0
released_from_treasury: 3088291
released_from_ebt: 677918
employee_awards_delivered: 3766209
shares_after: 904743674
old_holder_shares_after: 882304297
old_holder_equity_fraction_after: 0.975198083562
parent_equity_after_oku: 8.567102
net_debt_after_oku: 12.459267

内容を開く

event_type: buyback
想定日: 2029-10-30
time_since_base_years: 2.981519507
状態: explicit_forecast_assumption
shares_before: 904743674
old_holder_shares_before: 882304297
shares_repurchased: 3283638
cancelled_shares: 3283638
into_treasury_shares: 0
old_holder_shares_tendered: 3202197
old_holder_cash_oku: 0.386563
company_cash_oku: 0.396394
execution_price_gbp_assumed: 12.071791
old_holder_ratio_before: 0.975198
shares_after: 901460036
old_holder_shares_after: 879102100
old_holder_equity_fraction_after: 0.9751980841
parent_equity_after_oku: 8.575575
net_debt_after_oku: 12.465361

timed_holder_cashflows_this_period

内容を開く

year: 2.269678303
想定日: 2029-02-12
金額: 1.36848818
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-01-04
ex_date_status: forecast_unconfirmed

内容を開く

year: 2.521560575
想定日: 2029-05-15
金額: 0.474440417
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 2.655715264
想定日: 2029-07-03
金額: 0.749769557
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-06-07
ex_date_status: forecast_unconfirmed

内容を開く

year: 2.981519507
想定日: 2029-10-30
金額: 0.386562603
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2029

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.015556
arpu_mix_assumed: 0.017889
gbp_fx_translation_assumed: -0.008556
ma_contribution_assumed: 0.003111

full_year_revenue_oku

30.534869

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.300293
rd_expense_oku: 4.99754
sbc_expense_oku: 0.678553
acquired_intangibles_amortization_oku: 0.619858
other_sga_expense_oku: 15.814687

full_year_parent_net_income_oku

3.966595

full_year_fcf_before_distributions_and_ma_oku

4.909885

内容を開く

calendar_year

2030

date_start

2030-01-01

date_end_exclusive

2031-01-01

balance_as_of

2030-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

31.366896

revenue_segment_oku

North_America: 14.488369
UKIA: 9.172935
Europe: 7.705592

software_subscription_oku

26.630495

other_recurring_oku

3.701294

non_recurring_oku

1.035108

cloud_native_component_oku

13.079996

cost_of_sales_oku

2.352517

sga_oku

22.730544

of_which_rd_expensed_oku

5.144171

of_which_sbc_expensed_oku

0.700527

of_which_acquired_intangibles_amortization_oku

0.62577

other_sga_ex_rd_sbc_amort_oku

16.260076

statutory_operating_profit_oku

6.283835

finance_income_oku

0.154752

finance_costs_oku

0.8944

income_tax_oku

1.441489

parent_profit_after_sbc_oku

4.102698

depreciation_amortization_noncash_addback_oku

1.097841

sbc_noncash_addback_fcf_only_oku

0.700527

capex_total_cash_oku

0.815539

of_which_capitalised_software_oku

0.342527

working_capital_reinvestment_oku

0.009984

acquisition_cash_spend_oku

0.470503

fcf_pre_ma_and_payout_oku

5.075543

fcf_after_ma_before_payout_oku

4.60504

sbc_net_credit_to_equity_oku

0.672506

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 937252659
自己株式数: 34853632
ebt_shares: 938991
economic_outstanding_shares: 901460036
old_holder_remaining_shares: 879102100
old_holder_ownership_fraction: 0.9751980841
親会社持分（億）: 9.372655
net_debt_oku: 11.696957
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 9.103043
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.222911

closing

内容を開く

発行済株式数: 933236024
自己株式数: 28477486
ebt_shares: 0
economic_outstanding_shares: 904758538
old_holder_remaining_shares: 871975319
old_holder_ownership_fraction: 0.963765781009
親会社持分（億）: 11.454746
net_debt_oku: 9.785032
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 11.014968
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.528738

capital_bridge_oku

内容を開く

opening_parent_equity: 9.372655
profit_post_sbc: 4.102698
sbc_equity_credit: 0.672506
dividends_recognised_in_equity: 2.196383
repurchases_deducted_from_equity: 0.896731
cash_equity_issue_to_external: 0.4
closing_parent_equity: 11.454746
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 11.696957
pre_ma_fcf_reduces_net_debt: 5.075543
ma_cash_outlays: 0.470503
paid_dividends: 2.196383
paid_repurchases: 0.896731
third_party_equity_cash_receipts: 0.4
closing_net_debt: 9.785032
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 937252659
opening_treasury: 34853632
opening_ebt: 938991
opening_economic_outstanding: 901460036
employee_awards_delivered_shares: 7315137
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 3345872
old_holder_shares_tendered: 7126781
closing_issued: 933236024
closing_treasury: 28477486
closing_ebt: 0
closing_economic_outstanding: 904758538
closing_old_holder_remaining_shares: 871975319

gross_declared_dividends_oku

2.196383

gross_paid_dividends_oku

2.196383

gross_buybacks_oku

0.896731

old_holder_dividend_cash_oku

2.138959

old_holder_tender_cash_oku

0.868011

old_holder_cashflow_total_oku

3.006971

gross_dividend_pence_full_year_forecast

24.37

gross_buyback_budget_oku

0.896731

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2030-01-03
time_since_base_years: 3.159479808
状態: explicit_forecast_assumption
shares_before: 901460036
old_holder_shares_before: 879102100
dividend_type: final
dividend_gbp_per_share: 0.157192
company_dividend_declared_oku: 1.41702
old_holder_entitlement_oku: 1.381876
shares_after: 901460036
old_holder_shares_after: 879102100
old_holder_equity_fraction_after: 0.9751980841
parent_equity_after_oku: 7.9818
net_debt_after_oku: 11.671724
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2030-01-03

内容を開く

event_type: div_pay
想定日: 2030-02-11
time_since_base_years: 3.266255989
状態: explicit_forecast_assumption
shares_before: 901460036
old_holder_shares_before: 879102100
dividend_type: final
company_dividend_paid_oku: 1.41702
old_holder_cash_received_oku: 1.381876
shares_after: 901460036
old_holder_shares_after: 879102100
old_holder_equity_fraction_after: 0.9751980841
parent_equity_after_oku: 8.492028
net_debt_after_oku: 12.596699
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2030-01-03

内容を開く

event_type: award
想定日: 2030-03-29
time_since_base_years: 3.392197125
状態: explicit_forecast_assumption
shares_before: 901460036
old_holder_shares_before: 879102100
issued_new_employee_shares: 0
released_from_treasury: 2879238
released_from_ebt: 632028
employee_awards_delivered: 3511266
shares_after: 904971302
old_holder_shares_after: 879102100
old_holder_equity_fraction_after: 0.971414339943
parent_equity_after_oku: 9.093834
net_debt_after_oku: 12.016338

内容を開く

event_type: buyback
想定日: 2030-05-15
time_since_base_years: 3.520876112
状態: explicit_forecast_assumption
shares_before: 904971302
old_holder_shares_before: 879102100
shares_repurchased: 4059374
cancelled_shares: 4059374
into_treasury_shares: 0
old_holder_shares_tendered: 3943334
old_holder_cash_oku: 0.479104
company_cash_oku: 0.493202
execution_price_gbp_assumed: 12.149709
old_holder_ratio_before: 0.971414
shares_after: 900911928
old_holder_shares_after: 875158766
old_holder_equity_fraction_after: 0.971414340071
parent_equity_after_oku: 9.215521
net_debt_after_oku: 11.916562

内容を開く

event_type: div_ex
想定日: 2030-06-06
time_since_base_years: 3.58110883
状態: explicit_forecast_assumption
shares_before: 900911928
old_holder_shares_before: 875158766
dividend_type: interim
dividend_gbp_per_share: 0.086508
company_dividend_declared_oku: 0.779363
old_holder_entitlement_oku: 0.757084
shares_after: 900911928
old_holder_shares_after: 875158766
old_holder_equity_fraction_after: 0.971414340071
parent_equity_after_oku: 8.723979
net_debt_after_oku: 11.638998
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2030-06-06

内容を開く

event_type: div_pay
想定日: 2030-07-03
time_since_base_years: 3.655030801
状態: explicit_forecast_assumption
shares_before: 900911928
old_holder_shares_before: 875158766
dividend_type: interim
company_dividend_paid_oku: 0.779363
old_holder_cash_received_oku: 0.757084
shares_after: 900911928
old_holder_shares_after: 875158766
old_holder_equity_fraction_after: 0.971414340071
parent_equity_after_oku: 9.077214
net_debt_after_oku: 12.077714
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2030-06-06

内容を開く

event_type: new_equity
想定日: 2030-09-16
time_since_base_years: 3.86036961
状態: explicit_forecast_assumption
shares_before: 900911928
old_holder_shares_before: 875158766
issued_third_party_shares: 3345872
gross_subscription_proceeds_oku: 0.4
subscription_price_gbp_assumed: 11.955
shares_after: 904257800
old_holder_shares_after: 875158766
old_holder_equity_fraction_after: 0.967819980099
parent_equity_after_oku: 10.45842
net_debt_after_oku: 10.731473

内容を開く

event_type: award
想定日: 2030-09-30
time_since_base_years: 3.898699521
状態: explicit_forecast_assumption
shares_before: 904257800
old_holder_shares_before: 875158766
issued_new_employee_shares: 0
released_from_treasury: 3496908
released_from_ebt: 306963
employee_awards_delivered: 3803871
shares_after: 908061671
old_holder_shares_after: 875158766
old_holder_equity_fraction_after: 0.963765781498
parent_equity_after_oku: 10.641579
net_debt_after_oku: 10.554841

内容を開く

event_type: buyback
想定日: 2030-10-30
time_since_base_years: 3.980835044
状態: explicit_forecast_assumption
shares_before: 908061671
old_holder_shares_before: 875158766
shares_repurchased: 3303133
cancelled_shares: 3303133
into_treasury_shares: 0
old_holder_shares_tendered: 3183447
old_holder_cash_oku: 0.388907
company_cash_oku: 0.403529
execution_price_gbp_assumed: 12.216553
old_holder_ratio_before: 0.963766
shares_after: 904758538
old_holder_shares_after: 871975319
old_holder_equity_fraction_after: 0.963765781009
parent_equity_after_oku: 10.630532
net_debt_after_oku: 10.579874

timed_holder_cashflows_this_period

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year: 3.266255989
想定日: 2030-02-11
金額: 1.381875509
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-01-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 3.520876112
想定日: 2030-05-15
金額: 0.479103611
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 3.655030801
想定日: 2030-07-03
金額: 0.75708394
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-06-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 3.980835044
想定日: 2030-10-30
金額: 0.388907443
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2030

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.014333
arpu_mix_assumed: 0.017333
gbp_fx_translation_assumed: -0.007333
ma_contribution_assumed: 0.002667

full_year_revenue_oku

31.366896

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.352517
rd_expense_oku: 5.144171
sbc_expense_oku: 0.700527
acquired_intangibles_amortization_oku: 0.62577
other_sga_expense_oku: 16.260076

full_year_parent_net_income_oku

4.102698

full_year_fcf_before_distributions_and_ma_oku

5.075543

内容を開く

calendar_year

2031

date_start

2031-01-01

date_end_exclusive

2032-01-01

balance_as_of

2031-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

32.189336

revenue_segment_oku

North_America: 14.947923
UKIA: 9.41699
Europe: 7.824423

software_subscription_oku

27.360935

other_recurring_oku

3.733963

non_recurring_oku

1.094437

cloud_native_component_oku

13.680468

cost_of_sales_oku

2.40347

sga_oku

23.344421

of_which_rd_expensed_oku

5.289781

of_which_sbc_expensed_oku

0.722472

of_which_acquired_intangibles_amortization_oku

0.630911

other_sga_ex_rd_sbc_amort_oku

16.701258

statutory_operating_profit_oku

6.441444

finance_income_oku

0.187254

finance_costs_oku

0.8944

income_tax_oku

1.490918

parent_profit_after_sbc_oku

4.243381

depreciation_amortization_noncash_addback_oku

1.126627

sbc_noncash_addback_fcf_only_oku

0.722472

capex_total_cash_oku

0.836923

of_which_capitalised_software_oku

0.351508

working_capital_reinvestment_oku

0.009869

acquisition_cash_spend_oku

0.48284

fcf_pre_ma_and_payout_oku

5.245687

fcf_after_ma_before_payout_oku

4.762847

sbc_net_credit_to_equity_oku

0.693573

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 933236024
自己株式数: 28477486
ebt_shares: 0
economic_outstanding_shares: 904758538
old_holder_remaining_shares: 871975319
old_holder_ownership_fraction: 0.963765781009
親会社持分（億）: 11.454746
net_debt_oku: 9.785032
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 11.014968
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.528738

closing

内容を開く

発行済株式数: 929221441
自己株式数: 24480834
ebt_shares: 0
economic_outstanding_shares: 904740607
old_holder_remaining_shares: 864878823
old_holder_ownership_fraction: 0.955941201609
親会社持分（億）: 13.234716
net_debt_oku: 8.179167
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 12.620833
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.842584

capital_bridge_oku

内容を開く

opening_parent_equity: 11.454746
profit_post_sbc: 4.243381
sbc_equity_credit: 0.693573
dividends_recognised_in_equity: 2.244111
repurchases_deducted_from_equity: 0.912872
cash_equity_issue_to_external: 0
closing_parent_equity: 13.234716
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 9.785032
pre_ma_fcf_reduces_net_debt: 5.245687
ma_cash_outlays: 0.48284
paid_dividends: 2.244111
paid_repurchases: 0.912872
third_party_equity_cash_receipts: 0
closing_net_debt: 8.179167
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 933236024
opening_treasury: 28477486
opening_ebt: 0
opening_economic_outstanding: 904758538
employee_awards_delivered_shares: 7388288
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7096496
closing_issued: 929221441
closing_treasury: 24480834
closing_ebt: 0
closing_economic_outstanding: 904740607
closing_old_holder_remaining_shares: 864878823

gross_declared_dividends_oku

2.244111

gross_paid_dividends_oku

2.244111

gross_buybacks_oku

0.912872

old_holder_dividend_cash_oku

2.159801

old_holder_tender_cash_oku

0.874692

old_holder_cashflow_total_oku

3.034492

gross_dividend_pence_full_year_forecast

24.809

gross_buyback_budget_oku

0.912872

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2031-01-02
time_since_base_years: 4.156057495
状態: explicit_forecast_assumption
shares_before: 904758538
old_holder_shares_before: 871975319
dividend_type: final
dividend_gbp_per_share: 0.160021
company_dividend_declared_oku: 1.447805
old_holder_entitlement_oku: 1.395345
shares_after: 904758538
old_holder_shares_after: 871975319
old_holder_equity_fraction_after: 0.963765781009
parent_equity_after_oku: 10.020466
net_debt_after_oku: 9.771983
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-01-02

内容を開く

event_type: div_pay
想定日: 2031-02-10
time_since_base_years: 4.262833676
状態: explicit_forecast_assumption
shares_before: 904758538
old_holder_shares_before: 871975319
dividend_type: final
company_dividend_paid_oku: 1.447805
old_holder_cash_received_oku: 1.395345
shares_after: 904758538
old_holder_shares_after: 871975319
old_holder_equity_fraction_after: 0.963765781009
parent_equity_after_oku: 10.547977
net_debt_after_oku: 10.710881
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-01-02

内容を開く

event_type: award
想定日: 2031-03-31
time_since_base_years: 4.396988364
状態: explicit_forecast_assumption
shares_before: 904758538
old_holder_shares_before: 871975319
issued_new_employee_shares: 0
released_from_treasury: 3546378
released_from_ebt: 0
employee_awards_delivered: 3546378
shares_after: 908304916
old_holder_shares_after: 871975319
old_holder_equity_fraction_after: 0.960002862079
parent_equity_after_oku: 11.210746
net_debt_after_oku: 10.071485

内容を開く

event_type: buyback
想定日: 2031-05-15
time_since_base_years: 4.52019165
状態: explicit_forecast_assumption
shares_before: 908304916
old_holder_shares_before: 871975319
shares_repurchased: 4083475
cancelled_shares: 4014583
into_treasury_shares: 68892
old_holder_shares_tendered: 3920148
old_holder_cash_oku: 0.481998
company_cash_oku: 0.50208
execution_price_gbp_assumed: 12.295405
old_holder_ratio_before: 0.960003
shares_after: 904221441
old_holder_shares_after: 868055171
old_holder_equity_fraction_after: 0.960002861733
parent_equity_after_oku: 11.317331
net_debt_after_oku: 9.986364

内容を開く

event_type: div_ex
想定日: 2031-06-05
time_since_base_years: 4.577686516
状態: explicit_forecast_assumption
shares_before: 904221441
old_holder_shares_before: 868055171
dividend_type: interim
dividend_gbp_per_share: 0.088065
company_dividend_declared_oku: 0.796306
old_holder_entitlement_oku: 0.764456
shares_after: 904221441
old_holder_shares_after: 868055171
old_holder_equity_fraction_after: 0.960002861733
parent_equity_after_oku: 10.80507
net_debt_after_oku: 9.712337
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-06-05

内容を開く

event_type: div_pay
想定日: 2031-07-03
time_since_base_years: 4.654346338
状態: explicit_forecast_assumption
shares_before: 904221441
old_holder_shares_before: 868055171
dividend_type: interim
company_dividend_paid_oku: 0.796306
old_holder_cash_received_oku: 0.764456
shares_after: 904221441
old_holder_shares_after: 868055171
old_holder_equity_fraction_after: 0.960002861733
parent_equity_after_oku: 11.183795
net_debt_after_oku: 10.143274
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-06-05

内容を開く

event_type: award
想定日: 2031-09-30
time_since_base_years: 4.898015058
状態: explicit_forecast_assumption
shares_before: 904221441
old_holder_shares_before: 868055171
issued_new_employee_shares: 0
released_from_treasury: 3841910
released_from_ebt: 0
employee_awards_delivered: 3841910
shares_after: 908063351
old_holder_shares_after: 868055171
old_holder_equity_fraction_after: 0.955941201728
parent_equity_after_oku: 12.3876
net_debt_after_oku: 8.981922

内容を開く

event_type: buyback
想定日: 2031-10-30
time_since_base_years: 4.980150582
状態: explicit_forecast_assumption
shares_before: 908063351
old_holder_shares_before: 868055171
shares_repurchased: 3322744
cancelled_shares: 0
into_treasury_shares: 3322744
old_holder_shares_tendered: 3176348
old_holder_cash_oku: 0.392694
company_cash_oku: 0.410793
execution_price_gbp_assumed: 12.363051
old_holder_ratio_before: 0.955941
shares_after: 904740607
old_holder_shares_after: 864878823
old_holder_equity_fraction_after: 0.955941201609
parent_equity_after_oku: 12.382584
net_debt_after_oku: 9.001248

timed_holder_cashflows_this_period

内容を開く

year: 4.262833676
想定日: 2031-02-10
金額: 1.395344911
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-01-02
ex_date_status: forecast_unconfirmed

内容を開く

year: 4.52019165
想定日: 2031-05-15
金額: 0.48199803
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 4.654346338
想定日: 2031-07-03
金額: 0.764455647
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-06-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 4.980150582
想定日: 2031-10-30
金額: 0.392693507
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2031

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.013111
arpu_mix_assumed: 0.016778
gbp_fx_translation_assumed: -0.006111
ma_contribution_assumed: 0.002222

full_year_revenue_oku

32.189336

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.40347
rd_expense_oku: 5.289781
sbc_expense_oku: 0.722472
acquired_intangibles_amortization_oku: 0.630911
other_sga_expense_oku: 16.701258

full_year_parent_net_income_oku

4.243381

full_year_fcf_before_distributions_and_ma_oku

5.245687

内容を開く

calendar_year

2032

date_start

2032-01-01

date_end_exclusive

2033-01-01

balance_as_of

2032-12-31

days_in_scope

366

whole_year_days

366

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

33.000277

revenue_segment_oku

North_America: 15.406179
UKIA: 9.657861
Europe: 7.936237

software_subscription_oku

28.083236

other_recurring_oku

3.762032

non_recurring_oku

1.15501

cloud_native_component_oku

14.28912

cost_of_sales_oku

2.453021

sga_oku

23.950868

of_which_rd_expensed_oku

5.434046

of_which_sbc_expensed_oku

0.74434

of_which_acquired_intangibles_amortization_oku

0.635255

other_sga_ex_rd_sbc_amort_oku

17.137227

statutory_operating_profit_oku

6.596389

finance_income_oku

0.214554

finance_costs_oku

0.8944

income_tax_oku

1.538301

parent_profit_after_sbc_oku

4.378242

depreciation_amortization_noncash_addback_oku

1.15501

sbc_noncash_addback_fcf_only_oku

0.74434

capex_total_cash_oku

0.858007

of_which_capitalised_software_oku

0.360363

working_capital_reinvestment_oku

0.009731

acquisition_cash_spend_oku

0.495004

fcf_pre_ma_and_payout_oku

5.409853

fcf_after_ma_before_payout_oku

4.914848

sbc_net_credit_to_equity_oku

0.714566

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929221441
自己株式数: 24480834
ebt_shares: 0
economic_outstanding_shares: 904740607
old_holder_remaining_shares: 864878823
old_holder_ownership_fraction: 0.955941201609
親会社持分（億）: 13.234716
net_debt_oku: 8.179167
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 12.620833
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.842584

closing

内容を開く

発行済株式数: 929214730
自己株式数: 24462142
ebt_shares: 0
economic_outstanding_shares: 904752588
old_holder_remaining_shares: 857798564
old_holder_ownership_fraction: 0.948102912749
親会社持分（億）: 15.113751
net_debt_oku: 6.478092
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.321908
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.164337

capital_bridge_oku

内容を開く

opening_parent_equity: 13.234716
profit_post_sbc: 4.378242
sbc_equity_credit: 0.714566
dividends_recognised_in_equity: 2.284469
repurchases_deducted_from_equity: 0.929304
cash_equity_issue_to_external: 0
closing_parent_equity: 15.113751
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 8.179167
pre_ma_fcf_reduces_net_debt: 5.409853
ma_cash_outlays: 0.495004
paid_dividends: 2.284469
paid_repurchases: 0.929304
third_party_equity_cash_receipts: 0
closing_net_debt: 6.478092
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 929221441
opening_treasury: 24480834
opening_ebt: 0
opening_economic_outstanding: 904740607
employee_awards_delivered_shares: 7462171
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7080259
closing_issued: 929214730
closing_treasury: 24462142
closing_ebt: 0
closing_economic_outstanding: 904752588
closing_old_holder_remaining_shares: 857798564

gross_declared_dividends_oku

2.284469

gross_paid_dividends_oku

2.284469

gross_buybacks_oku

0.929304

old_holder_dividend_cash_oku

2.180763

old_holder_tender_cash_oku

0.883155

old_holder_cashflow_total_oku

3.063918

gross_dividend_pence_full_year_forecast

25.255

gross_buyback_budget_oku

0.929304

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2032-01-01
time_since_base_years: 5.152635181
状態: explicit_forecast_assumption
shares_before: 904740607
old_holder_shares_before: 864878823
dividend_type: final
dividend_gbp_per_share: 0.162902
company_dividend_declared_oku: 1.473836
old_holder_entitlement_oku: 1.408901
shares_after: 904740607
old_holder_shares_after: 864878823
old_holder_equity_fraction_after: 0.955941201609
parent_equity_after_oku: 11.76088
net_debt_after_oku: 8.179167
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2032-01-01

内容を開く

event_type: div_pay
想定日: 2032-02-10
time_since_base_years: 5.262149213
状態: explicit_forecast_assumption
shares_before: 904740607
old_holder_shares_before: 864878823
dividend_type: final
company_dividend_paid_oku: 1.473836
old_holder_cash_received_oku: 1.408901
shares_after: 904740607
old_holder_shares_after: 864878823
old_holder_equity_fraction_after: 0.955941201609
parent_equity_after_oku: 12.317471
net_debt_after_oku: 9.115862
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2032-01-01

内容を開く

event_type: award
想定日: 2032-03-31
time_since_base_years: 5.399041752
状態: explicit_forecast_assumption
shares_before: 904740607
old_holder_shares_before: 864878823
issued_new_employee_shares: 0
released_from_treasury: 3581842
released_from_ebt: 0
employee_awards_delivered: 3581842
shares_after: 908322449
old_holder_shares_after: 864878823
old_holder_equity_fraction_after: 0.952171581746
parent_equity_after_oku: 13.01321
net_debt_after_oku: 8.444434

内容を開く

event_type: buyback
想定日: 2032-05-14
time_since_base_years: 5.519507187
状態: explicit_forecast_assumption
shares_before: 908322449
old_holder_shares_before: 864878823
shares_repurchased: 4107719
cancelled_shares: 6711
into_treasury_shares: 4101008
old_holder_shares_tendered: 3911253
old_holder_cash_oku: 0.486671
company_cash_oku: 0.511117
execution_price_gbp_assumed: 12.442848
old_holder_ratio_before: 0.952172
shares_after: 904214730
old_holder_shares_after: 860967570
old_holder_equity_fraction_after: 0.952171582075
parent_equity_after_oku: 13.114343
net_debt_after_oku: 8.364696

内容を開く

event_type: div_ex
想定日: 2032-06-03
time_since_base_years: 5.574264203
状態: explicit_forecast_assumption
shares_before: 904214730
old_holder_shares_before: 860967570
dividend_type: interim
dividend_gbp_per_share: 0.089651
company_dividend_declared_oku: 0.810633
old_holder_entitlement_oku: 0.771862
shares_after: 904214730
old_holder_shares_after: 860967570
old_holder_equity_fraction_after: 0.952171582075
parent_equity_after_oku: 12.582005
net_debt_after_oku: 8.096125
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2032-06-03

内容を開く

event_type: div_pay
想定日: 2032-07-05
time_since_base_years: 5.661875428
状態: explicit_forecast_assumption
shares_before: 904214730
old_holder_shares_before: 860967570
dividend_type: interim
company_dividend_paid_oku: 0.810633
old_holder_cash_received_oku: 0.771862
shares_after: 904214730
old_holder_shares_after: 860967570
old_holder_equity_fraction_after: 0.952171582075
parent_equity_after_oku: 13.027278
net_debt_after_oku: 8.477044
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2032-06-03

内容を開く

event_type: award
想定日: 2032-09-30
time_since_base_years: 5.900068446
状態: explicit_forecast_assumption
shares_before: 904214730
old_holder_shares_before: 860967570
issued_new_employee_shares: 0
released_from_treasury: 3880329
released_from_ebt: 0
employee_awards_delivered: 3880329
shares_after: 908095059
old_holder_shares_after: 860967570
old_holder_equity_fraction_after: 0.948102912208
parent_equity_after_oku: 14.237863
net_debt_after_oku: 7.308761

内容を開く

event_type: buyback
想定日: 2032-10-29
time_since_base_years: 5.979466119
状態: explicit_forecast_assumption
shares_before: 908095059
old_holder_shares_before: 860967570
shares_repurchased: 3342471
cancelled_shares: 0
into_treasury_shares: 3342471
old_holder_shares_tendered: 3169006
old_holder_cash_oku: 0.396484
company_cash_oku: 0.418187
execution_price_gbp_assumed: 12.511305
old_holder_ratio_before: 0.948103
shares_after: 904752588
old_holder_shares_after: 857798564
old_holder_equity_fraction_after: 0.948102912749
parent_equity_after_oku: 14.223205
net_debt_after_oku: 7.337519

timed_holder_cashflows_this_period

内容を開く

year: 5.262149213
想定日: 2032-02-10
金額: 1.408900819
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-01-01
ex_date_status: forecast_unconfirmed

内容を開く

year: 5.519507187
想定日: 2032-05-14
金額: 0.486671309
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 5.661875428
想定日: 2032-07-05
金額: 0.771861778
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-06-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 5.979466119
想定日: 2032-10-29
金額: 0.396484079
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2032

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.011889
arpu_mix_assumed: 0.016222
gbp_fx_translation_assumed: -0.004889
ma_contribution_assumed: 0.001778

full_year_revenue_oku

33.000277

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.453021
rd_expense_oku: 5.434046
sbc_expense_oku: 0.74434
acquired_intangibles_amortization_oku: 0.635255
other_sga_expense_oku: 17.137227

full_year_parent_net_income_oku

4.378242

full_year_fcf_before_distributions_and_ma_oku

5.409853

内容を開く

calendar_year

2033

date_start

2033-01-01

date_end_exclusive

2034-01-01

balance_as_of

2033-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

33.797799

revenue_segment_oku

North_America: 15.862152
UKIA: 9.894981
Europe: 8.040665

software_subscription_oku

28.795724

other_recurring_oku

3.785353

non_recurring_oku

1.216721

cloud_native_component_oku

14.904829

cost_of_sales_oku

2.501037

sga_oku

24.548468

of_which_rd_expensed_oku

5.576637

of_which_sbc_expensed_oku

0.766083

of_which_acquired_intangibles_amortization_oku

0.638778

other_sga_ex_rd_sbc_amort_oku

17.566969

statutory_operating_profit_oku

6.748294

finance_income_oku

0.243472

finance_costs_oku

0.8944

income_tax_oku

1.585315

parent_profit_after_sbc_oku

4.512051

depreciation_amortization_noncash_addback_oku

1.182923

sbc_noncash_addback_fcf_only_oku

0.766083

capex_total_cash_oku

0.878743

of_which_capitalised_software_oku

0.369072

working_capital_reinvestment_oku

0.00957

acquisition_cash_spend_oku

0.506967

fcf_pre_ma_and_payout_oku

5.572744

fcf_after_ma_before_payout_oku

5.065777

sbc_net_credit_to_equity_oku

0.73544

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929214730
自己株式数: 24462142
ebt_shares: 0
economic_outstanding_shares: 904752588
old_holder_remaining_shares: 857798564
old_holder_ownership_fraction: 0.948102912749
親会社持分（億）: 15.113751
net_debt_oku: 6.478092
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.321908
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.164337

closing

内容を開く

発行済株式数: 929214730
自己株式数: 24420017
ebt_shares: 0
economic_outstanding_shares: 904794713
old_holder_remaining_shares: 850734849
old_holder_ownership_fraction: 0.940251790574
親会社持分（億）: 17.089579
net_debt_oku: 4.683977
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 16.116023
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.493865

capital_bridge_oku

内容を開く

opening_parent_equity: 15.113751
profit_post_sbc: 4.512051
sbc_equity_credit: 0.73544
dividends_recognised_in_equity: 2.325631
repurchases_deducted_from_equity: 0.946032
cash_equity_issue_to_external: 0
closing_parent_equity: 17.089579
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 6.478092
pre_ma_fcf_reduces_net_debt: 5.572744
ma_cash_outlays: 0.506967
paid_dividends: 2.325631
paid_repurchases: 0.946032
third_party_equity_cash_receipts: 0
closing_net_debt: 4.683977
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 929214730
opening_treasury: 24462142
opening_ebt: 0
opening_economic_outstanding: 904752588
employee_awards_delivered_shares: 7536793
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7063715
closing_issued: 929214730
closing_treasury: 24420017
closing_ebt: 0
closing_economic_outstanding: 904794713
closing_old_holder_remaining_shares: 850734849

gross_declared_dividends_oku

2.325631

gross_paid_dividends_oku

2.325631

gross_buybacks_oku

0.946032

old_holder_dividend_cash_oku

2.201821

old_holder_tender_cash_oku

0.891628

old_holder_cashflow_total_oku

3.09345

gross_dividend_pence_full_year_forecast

25.71

gross_buyback_budget_oku

0.946031

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2033-01-06
time_since_base_years: 6.168377823
状態: explicit_forecast_assumption
shares_before: 904752588
old_holder_shares_before: 857798564
dividend_type: final
dividend_gbp_per_share: 0.165834
company_dividend_declared_oku: 1.500385
old_holder_entitlement_oku: 1.42252
shares_after: 904752588
old_holder_shares_after: 857798564
old_holder_equity_fraction_after: 0.948102912749
parent_equity_after_oku: 13.685249
net_debt_after_oku: 6.408698
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2033-01-06

内容を開く

event_type: div_pay
想定日: 2033-02-10
time_since_base_years: 6.264202601
状態: explicit_forecast_assumption
shares_before: 904752588
old_holder_shares_before: 857798564
dividend_type: final
company_dividend_paid_oku: 1.500385
old_holder_cash_received_oku: 1.42252
shares_after: 904752588
old_holder_shares_after: 857798564
old_holder_equity_fraction_after: 0.948102912749
parent_equity_after_oku: 14.188433
net_debt_after_oku: 7.423324
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2033-01-06

内容を開く

event_type: award
想定日: 2033-03-31
time_since_base_years: 6.39835729
状態: explicit_forecast_assumption
shares_before: 904752588
old_holder_shares_before: 857798564
issued_new_employee_shares: 0
released_from_treasury: 3617661
released_from_ebt: 0
employee_awards_delivered: 3617661
shares_after: 908370249
old_holder_shares_after: 857798564
old_holder_equity_fraction_after: 0.94432701307
parent_equity_after_oku: 14.892891
net_debt_after_oku: 6.743261

内容を開く

event_type: buyback
想定日: 2033-05-13
time_since_base_years: 6.516084873
状態: explicit_forecast_assumption
shares_before: 908370249
old_holder_shares_before: 857798564
shares_repurchased: 4132242
cancelled_shares: 0
into_treasury_shares: 4132242
old_holder_shares_tendered: 3902188
old_holder_cash_oku: 0.49135
company_cash_oku: 0.520317
execution_price_gbp_assumed: 12.591648
old_holder_ratio_before: 0.944327
shares_after: 904238007
old_holder_shares_after: 853896376
old_holder_equity_fraction_after: 0.944327012788
parent_equity_after_oku: 14.990771
net_debt_after_oku: 6.666788

内容を開く

event_type: div_ex
想定日: 2033-06-02
time_since_base_years: 6.570841889
状態: explicit_forecast_assumption
shares_before: 904238007
old_holder_shares_before: 853896376
dividend_type: interim
dividend_gbp_per_share: 0.091264
company_dividend_declared_oku: 0.825246
old_holder_entitlement_oku: 0.779302
shares_after: 904238007
old_holder_shares_after: 853896376
old_holder_equity_fraction_after: 0.944327012788
parent_equity_after_oku: 14.453059
net_debt_after_oku: 6.389211
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2033-06-02

内容を開く

event_type: div_pay
想定日: 2033-07-04
time_since_base_years: 6.658453114
状態: explicit_forecast_assumption
shares_before: 904238007
old_holder_shares_before: 853896376
dividend_type: interim
company_dividend_paid_oku: 0.825246
old_holder_cash_received_oku: 0.779302
shares_after: 904238007
old_holder_shares_after: 853896376
old_holder_equity_fraction_after: 0.944327012788
parent_equity_after_oku: 14.913113
net_debt_after_oku: 6.770334
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2033-06-02

内容を開く

event_type: award
想定日: 2033-09-30
time_since_base_years: 6.899383984
状態: explicit_forecast_assumption
shares_before: 904238007
old_holder_shares_before: 853896376
issued_new_employee_shares: 0
released_from_treasury: 3919132
released_from_ebt: 0
employee_awards_delivered: 3919132
shares_after: 908157139
old_holder_shares_after: 853896376
old_holder_equity_fraction_after: 0.9402517905
parent_equity_after_oku: 16.178261
net_debt_after_oku: 5.548996

内容を開く

event_type: buyback
想定日: 2033-10-28
time_since_base_years: 6.976043806
状態: explicit_forecast_assumption
shares_before: 908157139
old_holder_shares_before: 853896376
shares_repurchased: 3362426
cancelled_shares: 0
into_treasury_shares: 3362426
old_holder_shares_tendered: 3161527
old_holder_cash_oku: 0.400279
company_cash_oku: 0.425714
execution_price_gbp_assumed: 12.660924
old_holder_ratio_before: 0.940252
shares_after: 904794713
old_holder_shares_after: 850734849
old_holder_equity_fraction_after: 0.940251790574
parent_equity_after_oku: 16.155094
net_debt_after_oku: 5.586102

timed_holder_cashflows_this_period

内容を開く

year: 6.264202601
想定日: 2033-02-10
金額: 1.422519575
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-01-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 6.516084873
想定日: 2033-05-13
金額: 0.491349757
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 6.658453114
想定日: 2033-07-04
金額: 0.77930182
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-06-02
ex_date_status: forecast_unconfirmed

内容を開く

year: 6.976043806
想定日: 2033-10-28
金額: 0.400278544
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2033

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.010667
arpu_mix_assumed: 0.015667
gbp_fx_translation_assumed: -0.003667
ma_contribution_assumed: 0.001333

full_year_revenue_oku

33.797799

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.501037
rd_expense_oku: 5.576637
sbc_expense_oku: 0.766083
acquired_intangibles_amortization_oku: 0.638778
other_sga_expense_oku: 17.566969

full_year_parent_net_income_oku

4.512051

full_year_fcf_before_distributions_and_ma_oku

5.572744

内容を開く

calendar_year

2034

date_start

2034-01-01

date_end_exclusive

2035-01-01

balance_as_of

2034-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

34.579971

revenue_segment_oku

North_America: 16.31483
UKIA: 10.127782
Europe: 8.137359

software_subscription_oku

29.496716

other_recurring_oku

3.803797

non_recurring_oku

1.279459

cloud_native_component_oku

15.526407

cost_of_sales_oku

2.547391

sga_oku

25.135797

of_which_rd_expensed_oku

5.717222

of_which_sbc_expensed_oku

0.787655

of_which_acquired_intangibles_amortization_oku

0.641458

other_sga_ex_rd_sbc_amort_oku

17.989462

statutory_operating_profit_oku

6.896783

finance_income_oku

0.273972

finance_costs_oku

0.8944

income_tax_oku

1.631852

parent_profit_after_sbc_oku

4.644503

depreciation_amortization_noncash_addback_oku

1.210299

sbc_noncash_addback_fcf_only_oku

0.787655

capex_total_cash_oku

0.899079

of_which_capitalised_software_oku

0.377613

working_capital_reinvestment_oku

0.009386

acquisition_cash_spend_oku

0.5187

fcf_pre_ma_and_payout_oku

5.733992

fcf_after_ma_before_payout_oku

5.215292

sbc_net_credit_to_equity_oku

0.756149

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929214730
自己株式数: 24420017
ebt_shares: 0
economic_outstanding_shares: 904794713
old_holder_remaining_shares: 850734849
old_holder_ownership_fraction: 0.940251790574
親会社持分（億）: 17.089579
net_debt_oku: 4.683977
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 16.116023
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.493865

closing

内容を開く

発行済株式数: 929214730
自己株式数: 24346527
ebt_shares: 0
economic_outstanding_shares: 904868203
old_holder_remaining_shares: 843688913
old_holder_ownership_fraction: 0.932388728218
親会社持分（億）: 19.159557
net_debt_oku: 2.799359
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 18.000641
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.83102

capital_bridge_oku

内容を開く

opening_parent_equity: 17.089579
profit_post_sbc: 4.644503
sbc_equity_credit: 0.756149
dividends_recognised_in_equity: 2.367614
repurchases_deducted_from_equity: 0.96306
cash_equity_issue_to_external: 0
closing_parent_equity: 19.159557
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 4.683977
pre_ma_fcf_reduces_net_debt: 5.733992
ma_cash_outlays: 0.5187
paid_dividends: 2.367614
paid_repurchases: 0.96306
third_party_equity_cash_receipts: 0
closing_net_debt: 2.799359
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 929214730
opening_treasury: 24420017
opening_ebt: 0
opening_economic_outstanding: 904794713
employee_awards_delivered_shares: 7612161
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7045936
closing_issued: 929214730
closing_treasury: 24346527
closing_ebt: 0
closing_economic_outstanding: 904868203
closing_old_holder_remaining_shares: 843688913

gross_declared_dividends_oku

2.367614

gross_paid_dividends_oku

2.367614

gross_buybacks_oku

0.96306

old_holder_dividend_cash_oku

2.222976

old_holder_tender_cash_oku

0.900108

old_holder_cashflow_total_oku

3.123084

gross_dividend_pence_full_year_forecast

26.173

gross_buyback_budget_oku

0.96306

shares_event_count

events

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event_type: div_ex
想定日: 2034-01-05
time_since_base_years: 7.16495551
状態: explicit_forecast_assumption
shares_before: 904794713
old_holder_shares_before: 850734849
dividend_type: final
dividend_gbp_per_share: 0.168819
company_dividend_declared_oku: 1.527463
old_holder_entitlement_oku: 1.4362
shares_after: 904794713
old_holder_shares_after: 850734849
old_holder_equity_fraction_after: 0.940251790574
parent_equity_after_oku: 15.621301
net_debt_after_oku: 4.626824
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-01-05

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event_type: div_pay
想定日: 2034-02-10
time_since_base_years: 7.263518138
状態: explicit_forecast_assumption
shares_before: 904794713
old_holder_shares_before: 850734849
dividend_type: final
company_dividend_paid_oku: 1.527463
old_holder_cash_received_oku: 1.4362
shares_after: 904794713
old_holder_shares_after: 850734849
old_holder_equity_fraction_after: 0.940251790574
parent_equity_after_oku: 16.153968
net_debt_after_oku: 5.639902
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-01-05

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event_type: award
想定日: 2034-03-31
time_since_base_years: 7.397672827
状態: explicit_forecast_assumption
shares_before: 904794713
old_holder_shares_before: 850734849
issued_new_employee_shares: 0
released_from_treasury: 3653837
released_from_ebt: 0
employee_awards_delivered: 3653837
shares_after: 908448550
old_holder_shares_after: 850734849
old_holder_equity_fraction_after: 0.936470038947
parent_equity_after_oku: 16.878987
net_debt_after_oku: 4.939767

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event_type: buyback
想定日: 2034-05-15
time_since_base_years: 7.520876112
状態: explicit_forecast_assumption
shares_before: 908448550
old_holder_shares_before: 850734849
shares_repurchased: 4156503
cancelled_shares: 0
into_treasury_shares: 4156503
old_holder_shares_tendered: 3892441
old_holder_cash_oku: 0.496032
company_cash_oku: 0.529683
execution_price_gbp_assumed: 12.743476
old_holder_ratio_before: 0.93647
shares_after: 904292047
old_holder_shares_after: 846842408
old_holder_equity_fraction_after: 0.936470038423
parent_equity_after_oku: 17.015138
net_debt_after_oku: 4.826469

内容を開く

event_type: div_ex
想定日: 2034-06-01
time_since_base_years: 7.567419576
状態: explicit_forecast_assumption
shares_before: 904292047
old_holder_shares_before: 846842408
dividend_type: interim
dividend_gbp_per_share: 0.092907
company_dividend_declared_oku: 0.84015
old_holder_entitlement_oku: 0.786776
shares_after: 904292047
old_holder_shares_after: 846842408
old_holder_equity_fraction_after: 0.936470038423
parent_equity_after_oku: 16.426525
net_debt_after_oku: 4.583564
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-06-01

内容を開く

event_type: div_pay
想定日: 2034-07-03
time_since_base_years: 7.655030801
状態: explicit_forecast_assumption
shares_before: 904292047
old_holder_shares_before: 846842408
dividend_type: interim
company_dividend_paid_oku: 0.84015
old_holder_cash_received_oku: 0.786776
shares_after: 904292047
old_holder_shares_after: 846842408
old_holder_equity_fraction_after: 0.936470038423
parent_equity_after_oku: 16.900007
net_debt_after_oku: 4.966484
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-06-01

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event_type: award
想定日: 2034-09-29
time_since_base_years: 7.89596167
状態: explicit_forecast_assumption
shares_before: 904292047
old_holder_shares_before: 846842408
issued_new_employee_shares: 0
released_from_treasury: 3958324
released_from_ebt: 0
employee_awards_delivered: 3958324
shares_after: 908250371
old_holder_shares_after: 846842408
old_holder_equity_fraction_after: 0.932388727865
parent_equity_after_oku: 18.202082
net_debt_after_oku: 3.709098

内容を開く

event_type: buyback
想定日: 2034-10-30
time_since_base_years: 7.980835044
状態: explicit_forecast_assumption
shares_before: 908250371
old_holder_shares_before: 846842408
shares_repurchased: 3382168
cancelled_shares: 0
into_treasury_shares: 3382168
old_holder_shares_tendered: 3153495
old_holder_cash_oku: 0.404076
company_cash_oku: 0.433377
execution_price_gbp_assumed: 12.813588
old_holder_ratio_before: 0.932389
shares_after: 904868203
old_holder_shares_after: 843688913
old_holder_equity_fraction_after: 0.932388728218
parent_equity_after_oku: 18.22739
net_debt_after_oku: 3.699533

timed_holder_cashflows_this_period

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year: 7.263518138
想定日: 2034-02-10
金額: 1.436200051
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-01-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 7.520876112
想定日: 2034-05-15
金額: 0.496032239
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 7.655030801
想定日: 2034-07-03
金額: 0.786775625
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-06-01
ex_date_status: forecast_unconfirmed

内容を開く

year: 7.980835044
想定日: 2034-10-30
金額: 0.404075884
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2034

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.009444
arpu_mix_assumed: 0.015111
gbp_fx_translation_assumed: -0.002444
ma_contribution_assumed: 0.000889

full_year_revenue_oku

34.579971

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.547391
rd_expense_oku: 5.717222
sbc_expense_oku: 0.787655
acquired_intangibles_amortization_oku: 0.641458
other_sga_expense_oku: 17.989462

full_year_parent_net_income_oku

4.644503

full_year_fcf_before_distributions_and_ma_oku

5.733992

内容を開く

calendar_year

2035

date_start

2035-01-01

date_end_exclusive

2036-01-01

balance_as_of

2035-12-31

days_in_scope

365

whole_year_days

365

fraction_of_calendar_year

period_type

full_calendar_year

状態

forecast_after_anchor

operating

内容を開く

売上高

35.344869

revenue_segment_oku

North_America: 16.763188
UKIA: 10.355693
Europe: 8.225988

software_subscription_oku

30.184518

other_recurring_oku

3.817246

non_recurring_oku

1.343105

cloud_native_component_oku

16.152605

cost_of_sales_oku

2.591957

sga_oku

25.711429

of_which_rd_expensed_oku

5.855467

of_which_sbc_expensed_oku

0.809005

of_which_acquired_intangibles_amortization_oku

0.643277

other_sga_ex_rd_sbc_amort_oku

18.403681

statutory_operating_profit_oku

7.041483

finance_income_oku

0.306011

finance_costs_oku

0.8944

income_tax_oku

1.677805

parent_profit_after_sbc_oku

4.77529

depreciation_amortization_noncash_addback_oku

1.23707

sbc_noncash_addback_fcf_only_oku

0.809005

capex_total_cash_oku

0.918967

of_which_capitalised_software_oku

0.385966

working_capital_reinvestment_oku

0.009179

acquisition_cash_spend_oku

0.530173

fcf_pre_ma_and_payout_oku

5.89322

fcf_after_ma_before_payout_oku

5.363047

sbc_net_credit_to_equity_oku

0.776645

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929214730
自己株式数: 24346527
ebt_shares: 0
economic_outstanding_shares: 904868203
old_holder_remaining_shares: 843688913
old_holder_ownership_fraction: 0.932388728218
親会社持分（億）: 19.159557
net_debt_oku: 2.799359
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 18.000641
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 25.83102

closing

内容を開く

発行済株式数: 929214730
自己株式数: 24241673
ebt_shares: 0
economic_outstanding_shares: 904973057
old_holder_remaining_shares: 836660834
old_holder_ownership_fraction: 0.924514633368
親会社持分（億）: 21.320659
net_debt_oku: 0.827145
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 19.972855
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 26.175633

capital_bridge_oku

内容を開く

opening_parent_equity: 19.159557
profit_post_sbc: 4.77529
sbc_equity_credit: 0.776645
dividends_recognised_in_equity: 2.410438
repurchases_deducted_from_equity: 0.980395
cash_equity_issue_to_external: 0
closing_parent_equity: 21.320659
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

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opening_net_debt: 2.799359
pre_ma_fcf_reduces_net_debt: 5.89322
ma_cash_outlays: 0.530173
paid_dividends: 2.410438
paid_repurchases: 0.980395
third_party_equity_cash_receipts: 0
closing_net_debt: 0.827145
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 929214730
opening_treasury: 24346527
opening_ebt: 0
opening_economic_outstanding: 904868203
employee_awards_delivered_shares: 7688283
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 7028079
closing_issued: 929214730
closing_treasury: 24241673
closing_ebt: 0
closing_economic_outstanding: 904973057
closing_old_holder_remaining_shares: 836660834

gross_declared_dividends_oku

2.410438

gross_paid_dividends_oku

2.410438

gross_buybacks_oku

0.980395

old_holder_dividend_cash_oku

2.244226

old_holder_tender_cash_oku

0.908593

old_holder_cashflow_total_oku

3.152819

gross_dividend_pence_full_year_forecast

26.644

gross_buyback_budget_oku

0.980395

shares_event_count

events

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event_type: div_ex
想定日: 2035-01-04
time_since_base_years: 8.161533196
状態: explicit_forecast_assumption
shares_before: 904868203
old_holder_shares_before: 843688913
dividend_type: final
dividend_gbp_per_share: 0.171858
company_dividend_declared_oku: 1.555084
old_holder_entitlement_oku: 1.449943
shares_after: 904868203
old_holder_shares_after: 843688913
old_holder_equity_fraction_after: 0.932388728218
parent_equity_after_oku: 17.650106
net_debt_after_oku: 2.755279
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2035-01-04

内容を開く

event_type: div_pay
想定日: 2035-02-12
time_since_base_years: 8.268309377
状態: explicit_forecast_assumption
shares_before: 904868203
old_holder_shares_before: 843688913
dividend_type: final
company_dividend_paid_oku: 1.555084
old_holder_cash_received_oku: 1.449943
shares_after: 904868203
old_holder_shares_after: 843688913
old_holder_equity_fraction_after: 0.932388728218
parent_equity_after_oku: 18.243326
net_debt_after_oku: 3.737325
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2035-01-04

内容を開く

event_type: award
想定日: 2035-03-30
time_since_base_years: 8.394250513
状態: explicit_forecast_assumption
shares_before: 904868203
old_holder_shares_before: 843688913
issued_new_employee_shares: 0
released_from_treasury: 3690376
released_from_ebt: 0
employee_awards_delivered: 3690376
shares_after: 908558579
old_holder_shares_after: 843688913
old_holder_equity_fraction_after: 0.928601559108
parent_equity_after_oku: 18.943022
net_debt_after_oku: 3.061434

内容を開く

event_type: buyback
想定日: 2035-05-15
time_since_base_years: 8.52019165
状態: explicit_forecast_assumption
shares_before: 908558579
old_holder_shares_before: 843688913
shares_repurchased: 4181181
cancelled_shares: 0
into_treasury_shares: 4181181
old_holder_shares_tendered: 3882651
old_holder_cash_oku: 0.500718
company_cash_oku: 0.539217
execution_price_gbp_assumed: 12.896293
old_holder_ratio_before: 0.928602
shares_after: 904377398
old_holder_shares_after: 839806262
old_holder_equity_fraction_after: 0.928601559324
parent_equity_after_oku: 19.103501
net_debt_after_oku: 2.924761

内容を開く

event_type: div_ex
想定日: 2035-06-07
time_since_base_years: 8.583162218
状態: explicit_forecast_assumption
shares_before: 904377398
old_holder_shares_before: 839806262
dividend_type: interim
dividend_gbp_per_share: 0.094579
company_dividend_declared_oku: 0.855354
old_holder_entitlement_oku: 0.794283
shares_after: 904377398
old_holder_shares_after: 839806262
old_holder_equity_fraction_after: 0.928601559324
parent_equity_after_oku: 18.597995
net_debt_after_oku: 2.586816
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2035-06-07

内容を開く

event_type: div_pay
想定日: 2035-07-03
time_since_base_years: 8.654346338
状態: explicit_forecast_assumption
shares_before: 904377398
old_holder_shares_before: 839806262
dividend_type: interim
company_dividend_paid_oku: 0.855354
old_holder_cash_received_oku: 0.794283
shares_after: 904377398
old_holder_shares_after: 839806262
old_holder_equity_fraction_after: 0.928601559324
parent_equity_after_oku: 18.993475
net_debt_after_oku: 3.060144
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2035-06-07

内容を開く

event_type: award
想定日: 2035-09-28
time_since_base_years: 8.892539357
状態: explicit_forecast_assumption
shares_before: 904377398
old_holder_shares_before: 839806262
issued_new_employee_shares: 0
released_from_treasury: 3997907
released_from_ebt: 0
employee_awards_delivered: 3997907
shares_after: 908375305
old_holder_shares_after: 839806262
old_holder_equity_fraction_after: 0.924514633299
parent_equity_after_oku: 20.316813
net_debt_after_oku: 1.781829

内容を開く

event_type: buyback
想定日: 2035-10-30
time_since_base_years: 8.980150582
状態: explicit_forecast_assumption
shares_before: 908375305
old_holder_shares_before: 839806262
shares_repurchased: 3402248
cancelled_shares: 0
into_treasury_shares: 3402248
old_holder_shares_tendered: 3145428
old_holder_cash_oku: 0.407875
company_cash_oku: 0.441178
execution_price_gbp_assumed: 12.967245
old_holder_ratio_before: 0.924515
shares_after: 904973057
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.924514633368
parent_equity_after_oku: 20.36238
net_debt_after_oku: 1.752822

timed_holder_cashflows_this_period

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year: 8.268309377
想定日: 2035-02-12
金額: 1.449942682
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-01-04
ex_date_status: forecast_unconfirmed

内容を開く

year: 8.52019165
想定日: 2035-05-15
金額: 0.500718066
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 8.654346338
想定日: 2035-07-03
金額: 0.794282849
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-06-07
ex_date_status: forecast_unconfirmed

内容を開く

year: 8.980150582
想定日: 2035-10-30
金額: 0.407875355
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2035

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.008222
arpu_mix_assumed: 0.014556
gbp_fx_translation_assumed: -0.001222
ma_contribution_assumed: 0.000444

full_year_revenue_oku

35.344869

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.591957
rd_expense_oku: 5.855467
sbc_expense_oku: 0.809005
acquired_intangibles_amortization_oku: 0.643277
other_sga_expense_oku: 18.403681

full_year_parent_net_income_oku

4.77529

full_year_fcf_before_distributions_and_ma_oku

5.89322

内容を開く

calendar_year

2036

date_start

2036-01-01

date_end_exclusive

2036-11-06

balance_as_of

2036-11-06

days_in_scope

310

whole_year_days

366

fraction_of_calendar_year

0.846994536

period_type

terminal_2036_partial_year

状態

forecast_after_anchor

operating

内容を開く

売上高

30.56852

revenue_segment_oku

North_America: 14.573542
UKIA: 8.959634
Europe: 7.035345

software_subscription_oku

26.136085

other_recurring_oku

3.240263

non_recurring_oku

1.192172

cloud_native_component_oku

14.214362

cost_of_sales_oku

2.231502

sga_oku

22.253883

of_which_rd_expensed_oku

5.074374

of_which_sbc_expensed_oku

0.703076

of_which_acquired_intangibles_amortization_oku

0.545648

other_sga_ex_rd_sbc_amort_oku

15.930784

statutory_operating_profit_oku

6.083135

finance_income_oku

0.287587

finance_costs_oku

0.757552

income_tax_oku

1.459424

parent_profit_after_sbc_oku

4.153746

depreciation_amortization_noncash_addback_oku

1.069898

sbc_noncash_addback_fcf_only_oku

0.703076

capex_total_cash_oku

0.794782

of_which_capitalised_software_oku

0.333808

working_capital_reinvestment_oku

0.007579

acquisition_cash_spend_oku

0.458528

fcf_pre_ma_and_payout_oku

5.12436

fcf_after_ma_before_payout_oku

4.665832

sbc_net_credit_to_equity_oku

0.674953

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929214730
自己株式数: 24241673
ebt_shares: 0
economic_outstanding_shares: 904973057
old_holder_remaining_shares: 836660834
old_holder_ownership_fraction: 0.924514633368
親会社持分（億）: 21.320659
net_debt_oku: 0.827145
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 19.972855
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 26.175633

closing

内容を開く

発行済株式数: 929214730
自己株式数: 22937554
ebt_shares: 0
economic_outstanding_shares: 906277176
old_holder_remaining_shares: 830723857
old_holder_ownership_fraction: 0.916633320356
親会社持分（億）: 22.849281
net_debt_oku: -0.538609
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 21.338609
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 26.473676

capital_bridge_oku

内容を開く

opening_parent_equity: 21.320659
profit_post_sbc: 4.153746
sbc_equity_credit: 0.674953
dividends_recognised_in_equity: 2.454741
repurchases_deducted_from_equity: 0.845336
cash_equity_issue_to_external: 0
closing_parent_equity: 22.849281
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 0.827145
pre_ma_fcf_reduces_net_debt: 5.12436
ma_cash_outlays: 0.458528
paid_dividends: 2.454741
paid_repurchases: 0.845336
third_party_equity_cash_receipts: 0
closing_net_debt: -0.538609
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 929214730
opening_treasury: 24241673
opening_ebt: 0
opening_economic_outstanding: 904973057
employee_awards_delivered_shares: 7765165
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 5936977
closing_issued: 929214730
closing_treasury: 22937554
closing_ebt: 0
closing_economic_outstanding: 906277176
closing_old_holder_remaining_shares: 830723857

gross_declared_dividends_oku

2.454741

gross_paid_dividends_oku

2.454741

gross_buybacks_oku

0.845336

old_holder_dividend_cash_oku

2.266139

old_holder_tender_cash_oku

0.776765

old_holder_cashflow_total_oku

3.042904

gross_dividend_pence_full_year_forecast

27.123

gross_buyback_budget_oku

0.845336

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2036-01-03
time_since_base_years: 9.158110883
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
dividend_type: final
dividend_gbp_per_share: 0.174951
company_dividend_declared_oku: 1.583259
old_holder_entitlement_oku: 1.463746
shares_after: 904973057
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.924514633368
parent_equity_after_oku: 19.768553
net_debt_after_oku: 0.797043
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2036-01-03

内容を開く

event_type: div_pay
想定日: 2036-02-11
time_since_base_years: 9.264887064
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
dividend_type: final
company_dividend_paid_oku: 1.583259
old_holder_cash_received_oku: 1.463746
shares_after: 904973057
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.924514633368
parent_equity_after_oku: 20.376034
net_debt_after_oku: 1.79331
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2036-01-03

内容を開く

event_type: award
想定日: 2036-03-31
time_since_base_years: 9.399041752
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
issued_new_employee_shares: 0
released_from_treasury: 3727279
released_from_ebt: 0
employee_awards_delivered: 3727279
shares_after: 908700336
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.920722487771
parent_equity_after_oku: 21.139281
net_debt_after_oku: 1.055808

内容を開く

event_type: buyback
想定日: 2036-05-15
time_since_base_years: 9.522245038
状態: explicit_forecast_assumption
shares_before: 908700336
old_holder_shares_before: 836660834
shares_repurchased: 3562347
cancelled_shares: 0
into_treasury_shares: 3562347
old_holder_shares_tendered: 3279933
old_holder_cash_oku: 0.428076
company_cash_oku: 0.464935
execution_price_gbp_assumed: 13.051368
old_holder_ratio_before: 0.920722
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 21.375286
net_debt_after_oku: 0.843445

内容を開く

event_type: div_ex
想定日: 2036-06-05
time_since_base_years: 9.579739904
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
dividend_type: interim
dividend_gbp_per_share: 0.096282
company_dividend_declared_oku: 0.871482
old_holder_entitlement_oku: 0.802393
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 20.830909
net_debt_after_oku: 0.527372
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2036-06-05

内容を開く

event_type: div_pay
想定日: 2036-07-03
time_since_base_years: 9.656399726
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
dividend_type: interim
company_dividend_paid_oku: 0.871482
old_holder_cash_received_oku: 0.802393
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 21.267049
net_debt_after_oku: 0.977424
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2036-06-05

内容を開く

event_type: award
想定日: 2036-09-30
time_since_base_years: 9.900068446
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
issued_new_employee_shares: 0
released_from_treasury: 4037886
released_from_ebt: 0
employee_awards_delivered: 4037886
shares_after: 909175875
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.916633320258
parent_equity_after_oku: 22.653353
net_debt_after_oku: -0.362121

内容を開く

event_type: buyback
想定日: 2036-10-30
time_since_base_years: 9.98220397
状態: explicit_forecast_assumption
shares_before: 909175875
old_holder_shares_before: 833380901
shares_repurchased: 2898699
cancelled_shares: 0
into_treasury_shares: 2898699
old_holder_shares_tendered: 2657044
old_holder_cash_oku: 0.348688
company_cash_oku: 0.380401
execution_price_gbp_assumed: 13.123173
old_holder_ratio_before: 0.916633
shares_after: 906277176
old_holder_shares_after: 830723857
old_holder_equity_fraction_after: 0.916633320356
parent_equity_after_oku: 22.740245
net_debt_after_oku: -0.433252

timed_holder_cashflows_this_period

内容を開く

year: 9.264887064
想定日: 2036-02-11
金額: 1.463745961
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 9.522245038
想定日: 2036-05-15
金額: 0.428076124
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

内容を開く

year: 9.656399726
想定日: 2036-07-03
金額: 0.802393492
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 9.98220397
想定日: 2036-10-30
金額: 0.348688495
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2036

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.007
arpu_mix_assumed: 0.014
gbp_fx_translation_assumed: 0
ma_contribution_assumed: 0

full_year_revenue_oku

36.090575

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.634612
rd_expense_oku: 5.991035
sbc_expense_oku: 0.830083
acquired_intangibles_amortization_oku: 0.644217
other_sga_expense_oku: 18.808603

full_year_parent_net_income_oku

4.904101

full_year_fcf_before_distributions_and_ma_oku

6.050051

initial_2026_post_basis_stub

内容を開く

calendar_year

2026

date_start

2026-11-06

date_end_exclusive

2027-01-01

balance_as_of

2026-12-31

days_in_scope

whole_year_days

365

fraction_of_calendar_year

0.153424658

period_type

initial_2026_stub

状態

forecast_after_anchor

operating

内容を開く

売上高

4.29589

revenue_segment_oku

North_America: 1.941742
UKIA: 1.2544
Europe: 1.099748

software_subscription_oku

3.630027

other_recurring_oku

0.541282

non_recurring_oku

0.124581

cloud_native_component_oku

1.653918

cost_of_sales_oku

0.326488

sga_oku

3.032899

of_which_rd_expensed_oku

0.657271

of_which_sbc_expensed_oku

0.085059

of_which_acquired_intangibles_amortization_oku

0.090214

other_sga_ex_rd_sbc_amort_oku

2.200355

statutory_operating_profit_oku

0.936504

finance_income_oku

0.011763

finance_costs_oku

0.137223

income_tax_oku

0.210871

parent_profit_after_sbc_oku

0.600173

depreciation_amortization_noncash_addback_oku

0.150356

sbc_noncash_addback_fcf_only_oku

0.085059

capex_total_cash_oku

0.111693

of_which_capitalised_software_oku

0.046911

working_capital_reinvestment_oku

0.006137

acquisition_cash_spend_oku

0.064438

fcf_pre_ma_and_payout_oku

0.717757

fcf_after_ma_before_payout_oku

0.653319

sbc_net_credit_to_equity_oku

0.081656

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 959080955
自己株式数: 53451016
ebt_shares: 5021344
economic_outstanding_shares: 900608595
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 1
親会社持分（億）: 4.265
net_debt_oku: 16.29
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 4.51
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.3125

closing

内容を開く

発行済株式数: 959080955
自己株式数: 52494874
ebt_shares: 4811459
economic_outstanding_shares: 901774622
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.998706964056
親会社持分（億）: 4.946829
net_debt_oku: 15.636681
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 5.163319
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.354385

capital_bridge_oku

内容を開く

opening_parent_equity: 4.265
profit_post_sbc: 0.600173
sbc_equity_credit: 0.081656
dividends_recognised_in_equity: 0
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 4.946829
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 16.29
pre_ma_fcf_reduces_net_debt: 0.717757
ma_cash_outlays: 0.064438
paid_dividends: 0
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 15.636681
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 959080955
opening_treasury: 53451016
opening_ebt: 5021344
opening_economic_outstanding: 900608595
employee_awards_delivered_shares: 1166027
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 959080955
closing_treasury: 52494874
closing_ebt: 4811459
closing_economic_outstanding: 901774622
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

gross_paid_dividends_oku

gross_buybacks_oku

old_holder_dividend_cash_oku

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

gross_dividend_pence_full_year_forecast

未確認

gross_buyback_budget_oku

shares_event_count

events

内容を開く

event_type: award
想定日: 2026-12-15
time_since_base_years: 0.106776181
状態: explicit_forecast_assumption
shares_before: 900608595
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 956142
released_from_ebt: 209885
employee_awards_delivered: 1166027
shares_after: 901774622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.998706964056
parent_equity_after_oku: 4.739845
net_debt_after_oku: 15.83501

timed_holder_cashflows_this_period

記載なし

full_year_financial_reference

内容を開く

year

2026

状態

estimate

growth_drivers

内容を開く

net_customer_growth_assumed: 0.05
arpu_mix_assumed: 0.035
gbp_fx_translation_assumed: -0.004
ma_contribution_assumed: 0.009

full_year_revenue_oku

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.128
rd_expense_oku: 4.284
sbc_expense_oku: 0.5544
acquired_intangibles_amortization_oku: 0.588
other_sga_expense_oku: 14.3416

full_year_parent_net_income_oku

3.91184

full_year_fcf_before_distributions_and_ma_oku

4.67824

terminal_2036_partial_year

内容を開く

calendar_year

2036

date_start

2036-01-01

date_end_exclusive

2036-11-06

balance_as_of

2036-11-06

days_in_scope

310

whole_year_days

366

fraction_of_calendar_year

0.846994536

period_type

terminal_2036_partial_year

状態

forecast_after_anchor

operating

内容を開く

売上高

30.56852

revenue_segment_oku

North_America: 14.573542
UKIA: 8.959634
Europe: 7.035345

software_subscription_oku

26.136085

other_recurring_oku

3.240263

non_recurring_oku

1.192172

cloud_native_component_oku

14.214362

cost_of_sales_oku

2.231502

sga_oku

22.253883

of_which_rd_expensed_oku

5.074374

of_which_sbc_expensed_oku

0.703076

of_which_acquired_intangibles_amortization_oku

0.545648

other_sga_ex_rd_sbc_amort_oku

15.930784

statutory_operating_profit_oku

6.083135

finance_income_oku

0.287587

finance_costs_oku

0.757552

income_tax_oku

1.459424

parent_profit_after_sbc_oku

4.153746

depreciation_amortization_noncash_addback_oku

1.069898

sbc_noncash_addback_fcf_only_oku

0.703076

capex_total_cash_oku

0.794782

of_which_capitalised_software_oku

0.333808

working_capital_reinvestment_oku

0.007579

acquisition_cash_spend_oku

0.458528

fcf_pre_ma_and_payout_oku

5.12436

fcf_after_ma_before_payout_oku

4.665832

sbc_net_credit_to_equity_oku

0.674953

non_controlling_interest_oku

capital_and_holder_ledger

内容を開く

opening

内容を開く

発行済株式数: 929214730
自己株式数: 24241673
ebt_shares: 0
economic_outstanding_shares: 904973057
old_holder_remaining_shares: 836660834
old_holder_ownership_fraction: 0.924514633368
親会社持分（億）: 21.320659
net_debt_oku: 0.827145
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 19.972855
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 26.175633

closing

内容を開く

発行済株式数: 929214730
自己株式数: 22937554
ebt_shares: 0
economic_outstanding_shares: 906277176
old_holder_remaining_shares: 830723857
old_holder_ownership_fraction: 0.916633320356
親会社持分（億）: 22.849281
net_debt_oku: -0.538609
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 21.338609
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 26.473676

capital_bridge_oku

内容を開く

opening_parent_equity: 21.320659
profit_post_sbc: 4.153746
sbc_equity_credit: 0.674953
dividends_recognised_in_equity: 2.454741
repurchases_deducted_from_equity: 0.845336
cash_equity_issue_to_external: 0
closing_parent_equity: 22.849281
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 0.827145
pre_ma_fcf_reduces_net_debt: 5.12436
ma_cash_outlays: 0.458528
paid_dividends: 2.454741
paid_repurchases: 0.845336
third_party_equity_cash_receipts: 0
closing_net_debt: -0.538609
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 929214730
opening_treasury: 24241673
opening_ebt: 0
opening_economic_outstanding: 904973057
employee_awards_delivered_shares: 7765165
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 5936977
closing_issued: 929214730
closing_treasury: 22937554
closing_ebt: 0
closing_economic_outstanding: 906277176
closing_old_holder_remaining_shares: 830723857

gross_declared_dividends_oku

2.454741

gross_paid_dividends_oku

2.454741

gross_buybacks_oku

0.845336

old_holder_dividend_cash_oku

2.266139

old_holder_tender_cash_oku

0.776765

old_holder_cashflow_total_oku

3.042904

gross_dividend_pence_full_year_forecast

27.123

gross_buyback_budget_oku

0.845336

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2036-01-03
time_since_base_years: 9.158110883
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
dividend_type: final
ex_date: 2036-01-03
dividend_gbp_per_share: 0.174951
company_dividend_declared_oku: 1.583259
old_holder_entitlement_oku: 1.463746
shares_after: 904973057
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.924514633368
parent_equity_after_oku: 19.768553
net_debt_after_oku: 0.797043
ex_date_status: forecast_unconfirmed

内容を開く

event_type: div_pay
想定日: 2036-02-11
time_since_base_years: 9.264887064
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
dividend_type: final
ex_date: 2036-01-03
company_dividend_paid_oku: 1.583259
old_holder_cash_received_oku: 1.463746
shares_after: 904973057
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.924514633368
parent_equity_after_oku: 20.376034
net_debt_after_oku: 1.79331
ex_date_status: forecast_unconfirmed

内容を開く

event_type: award
想定日: 2036-03-31
time_since_base_years: 9.399041752
状態: explicit_forecast_assumption
shares_before: 904973057
old_holder_shares_before: 836660834
issued_new_employee_shares: 0
released_from_treasury: 3727279
released_from_ebt: 0
employee_awards_delivered: 3727279
shares_after: 908700336
old_holder_shares_after: 836660834
old_holder_equity_fraction_after: 0.920722487771
parent_equity_after_oku: 21.139281
net_debt_after_oku: 1.055808

内容を開く

event_type: buyback
想定日: 2036-05-15
time_since_base_years: 9.522245038
状態: explicit_forecast_assumption
shares_before: 908700336
old_holder_shares_before: 836660834
shares_repurchased: 3562347
cancelled_shares: 0
into_treasury_shares: 3562347
old_holder_shares_tendered: 3279933
old_holder_cash_oku: 0.428076
company_cash_oku: 0.464935
execution_price_gbp_assumed: 13.051368
old_holder_ratio_before: 0.920722
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 21.375286
net_debt_after_oku: 0.843445

内容を開く

event_type: div_ex
想定日: 2036-06-05
time_since_base_years: 9.579739904
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
dividend_type: interim
ex_date: 2036-06-05
dividend_gbp_per_share: 0.096282
company_dividend_declared_oku: 0.871482
old_holder_entitlement_oku: 0.802393
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 20.830909
net_debt_after_oku: 0.527372
ex_date_status: forecast_unconfirmed

内容を開く

event_type: div_pay
想定日: 2036-07-03
time_since_base_years: 9.656399726
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
dividend_type: interim
ex_date: 2036-06-05
company_dividend_paid_oku: 0.871482
old_holder_cash_received_oku: 0.802393
shares_after: 905137989
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.920722487762
parent_equity_after_oku: 21.267049
net_debt_after_oku: 0.977424
ex_date_status: forecast_unconfirmed

内容を開く

event_type: award
想定日: 2036-09-30
time_since_base_years: 9.900068446
状態: explicit_forecast_assumption
shares_before: 905137989
old_holder_shares_before: 833380901
issued_new_employee_shares: 0
released_from_treasury: 4037886
released_from_ebt: 0
employee_awards_delivered: 4037886
shares_after: 909175875
old_holder_shares_after: 833380901
old_holder_equity_fraction_after: 0.916633320258
parent_equity_after_oku: 22.653353
net_debt_after_oku: -0.362121

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event_type: buyback
想定日: 2036-10-30
time_since_base_years: 9.98220397
状態: explicit_forecast_assumption
shares_before: 909175875
old_holder_shares_before: 833380901
shares_repurchased: 2898699
cancelled_shares: 0
into_treasury_shares: 2898699
old_holder_shares_tendered: 2657044
old_holder_cash_oku: 0.348688
company_cash_oku: 0.380401
execution_price_gbp_assumed: 13.123173
old_holder_ratio_before: 0.916633
shares_after: 906277176
old_holder_shares_after: 830723857
old_holder_equity_fraction_after: 0.916633320356
parent_equity_after_oku: 22.740245
net_debt_after_oku: -0.433252

timed_holder_cashflows_this_period

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year: 9.264887064
想定日: 2036-02-11
金額: 1.463745961
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

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year: 9.522245038
想定日: 2036-05-15
金額: 0.428076124
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

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year: 9.656399726
想定日: 2036-07-03
金額: 0.802393492
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

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year: 9.98220397
想定日: 2036-10-30
金額: 0.348688495
date_status: forecast_unconfirmed
cashflow_type: pro_rata_tender_buyback

full_year_financial_reference

内容を開く

year

2036

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: 0.007
arpu_mix_assumed: 0.014
gbp_fx_translation_assumed: 0
ma_contribution_assumed: 0

full_year_revenue_oku

36.090575

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.634612
rd_expense_oku: 5.991035
sbc_expense_oku: 0.830083
acquired_intangibles_amortization_oku: 0.644217
other_sga_expense_oku: 18.808603

full_year_parent_net_income_oku

4.904101

full_year_fcf_before_distributions_and_ma_oku

6.050051

old_holder_economics

内容を開く

holder_method: pro_rata_tender_cohort: 2026-11-06の既存社外株900608595株が買戻しに比例応札。従業員への交付・第三者増資で希薄化。旧株主は新株予約権へ追加出資しない。
basis_old_holder_shares: 900608595
remaining_old_holder_shares: 830723857
company_economic_outstanding_shares_at_horizon: 906277176
holder_fraction_terminal: 0.916633320356
gross_company_dividends_oku: 22.643537
gross_company_buybacks_oku: 9.069906
old_holder_dividends_received_oku: 21.707749
old_holder_tender_receipts_oku: 8.660677
old_holder_tendered_shares: 69884738
noncash_award_shares_delivered_to_employees: 75447735
new_shares_issued_to_third_parties: 3345872
cash_receipts_exclude_sbc_and_external_issuance: はい

期間内株主受取

30.368427

終価

53.946919978

terminal

内容を開く

日付

2036-11-06

terminal_year_since_asof

10.001368925394

final_partial_2036_year_days

310

full_year_2036_parent_ifrs_profit_reference_oku

4.904101

forward_2037_revenue_reference_oku

36.852014

forward_2037_parent_ifrs_profit_reference_oku

5.060682

next_12_month_parent_profit_oku

5.034603

long_run_nominal_profit_growth_g

0.018

incremental_return_on_reinvested_equity_assumed

0.15

required_reinvestment_fraction

0.12

growth_return_convention

IFRS親会社利益にはSBCを費用として残し、成長用再投資g/限界ROEを控除。SBC非現金加算と株式交付を相殺する想定市場買付現金は別々に1度だけ計上。

forward_12month_distributable_equity_fcf_oku

4.2374395

perpetuity_value_pre_debt_repair_oku

58.853326385

one_time_leverage_repair_oku

company_intrinsic_equity_value_terminal_oku

58.853326385

old_holder_fraction_terminal

0.916633320356

old_holder_terminal_equity_value_oku

53.946919978

計算式

equity = max(0, ([next12 IFRS ordinary profit after SBC]*(1-g/incrementalROE) + forecast noncash SBC addback - market cash cost to replace all delivered award shares)/(k-g) - one-off leverage cure); old holder terminal=equity * old_cohort_remaining/economic_shares. Dilution alternatives: replace (k-g) with ((k-g)+(1+k)*annual net dilution fraction).

future_sbc_treatment

IFRS2費用控除後利益＋非現金加算−2037交付株の日時点予測市場価格で同数を買う現金。SBC expenseと市場補填費用が一致するとは仮定しない。補填がなければ株主希薄化をGordon希薄化割引に反映する。

sbc_market_repurchase_reconciliation

内容を開く

2036_awards_and_general_buybacks

内容を開く

period

2036-01-01_to_2036-11-06

状態

scenario_forecast_not_reported_actual

full_2036_awards_planned_shares

7765165

awards_delivered_before_horizon_shares

7765165

awards_detail

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想定日: 2036-03-31
状態: forecast
delivered_shares: 3727279
new_employee_issued_shares: 0
released_treasury_shares: 3727279
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3727279
assumed_market_price_gbp_per_share: 13.032201
required_market_purchase_cash_oku: 0.485746501

内容を開く

想定日: 2036-09-30
状態: forecast
delivered_shares: 4037886
new_employee_issued_shares: 0
released_treasury_shares: 4037886
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 4037886
assumed_market_price_gbp_per_share: 13.110322
required_market_purchase_cash_oku: 0.529379851

hypothetical_market_repurchase_shares_to_neutralise_2036_awards

7765165

weighted_market_purchase_price_gbp_per_share

13.072824

hypothetical_gross_repurchase_cash_needed_oku

1.015126352

full_calendar_2036_ifrs_sbc_expense_oku

0.830083

hypothetical_cost_minus_2036_full_year_sbc_expense_oku

0.185043352

company_discretionary_buybacks_already_in_2036_period_shares

6461046

company_discretionary_buybacks_already_in_2036_period_cash_oku

0.845336

company_net_repurchase_shares_minus_sbc_awards_2036

-1304119

warning_no_double_deduction

2036年交付株数を相殺する仮想買付費用は感応度用参考値であり、2036年の既存一般買戻し支出へ追加計上しない。両者の株数比較も記載。

2036_11_06_to_2037_11_06_forward_valuation_year

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period_start

2036-11-06

period_end_exclusive

2037-11-06

days

365

状態

forward_12m_valuation_assumption_outside_10year_oldholder_cashflow

2036_nov_to_dec_days

2037_jan_to_nov_days

309

IFRS_ordinary_profit_after_sbc_oku

5.034603

sbc_noncash_from_2036_tail_oku

0.127007235

sbc_noncash_from_2037_part_oku

0.717554147

sbc_noncash_addback_once_oku

0.844561382

required_growth_reinvestment_deduction_oku

0.60415236

fcfe_before_sbc_share_replenishment_oku

5.275012022

annual_2037_employee_shares_expected_to_vest

7842817

full_neutrality_market_shares_to_rebuy

7842817

vesting_repurchase_events_assumed

内容を開く

vesting_date_assumed: 2037-03-31
状態: forecast
employee_delivery_shares_assumed: 3764552
shares_to_rebuy_for_full_neutrality: 3764552
market_repurchase_price_gbp_assumed: 13.188480007
cash_repurchase_required_oku: 0.496487188

内容を開く

vesting_date_assumed: 2037-09-30
状態: forecast
employee_delivery_shares_assumed: 4078265
shares_to_rebuy_for_full_neutrality: 4078265
market_repurchase_price_gbp_assumed: 13.267537395
cash_repurchase_required_oku: 0.541085334

weighted_mean_future_market_repurchase_price_gbp

13.22958985

gross_market_purchase_cost_oku

1.037572522

required_additional_cash_above_noncash_sbc_addback_oku

0.19301114

net_new_economic_shares_under_full_neutrality

terminal_economic_outstanding_shares_before_new_awards

906277176

terminal_old_holder_remaining_shares

830723857

terminal_old_holder_fraction

0.916633320356

perpetual_normalisation

株数中立の主ケースは2037年交付株数を固定し以後買付株価・費用を長期gで増やす。希薄化感応度は2037年の純増株比率を恒常化し交付数が流通株に比例すると置く近似。いずれも2027-2036の高株価成長率を永続外挿しない。

ifrs2_fair_value_not_equivalent_to_market_buyback

はい

tax_difference_between_sbc_book_expense_and_cash_deduction

not separately forecast; tax timing/pricing may change cash FCFE

prohibition_on_adding_to_10year_cashflows

all post-horizon repurchase cash is a terminal FCFE normalization assumption only; not a 2026-2036 old-holder positive or negative timed_cashflow

sensitivity_cases

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full_market_repurchase_share_neutrality

内容を開く

名称: full_market_repurchase_share_neutrality
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 同数の交付株を2037年3月/9月の市場価格で買い戻す。純株数中立、SBC費用と現金買戻し費用を別物として計上。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 1.037572522
cash_cost_minus_sbc_noncash_addback_oku: 0.19301114
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.2374395
pre_leverage_repair_intrinsic_company_equity_value_oku: 58.853326385
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 58.853326385
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 53.946919978
pv_old_holder_terminal_oku: 22.785073865
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 43.040169633
implied_irr_using_identical_prehorizon_cashflows: -0.025911702735

limited_budget_and_dilution

内容を開く

名称: limited_market_repurchase_at_sbc_addback_cash_budget
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: SBC加算相当額を上限に買い、残りの交付株は毎年希薄化。現金支出と希薄化を両方追跡。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0.844561405
cash_cost_minus_sbc_noncash_addback_oku: 2.4E-8
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 6383882
net_future_award_shares_unneutralised: 1458935
recurring_future_share_dilution_fraction_per_year: 0.001609811036
perpetuity_denominator: 0.07375469403
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.430450616
pre_leverage_repair_intrinsic_company_equity_value_oku: 60.070083331
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 60.070083331
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 55.062239938
pv_old_holder_terminal_oku: 23.256141493
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 43.511237262
implied_irr_using_identical_prehorizon_cashflows: -0.024327641756

no_market_repurchase_and_dilution

内容を開く

名称: no_repurchase_all_employee_awards_dilute
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 将来SBC交付株を市場で買戻さない。加算した非現金SBC分はFCFEに残すが、交付株が旧株主を希薄化させる。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0
cash_cost_minus_sbc_noncash_addback_oku: -0.844561382
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 0
net_future_award_shares_unneutralised: 7842817
recurring_future_share_dilution_fraction_per_year: 0.00865388339
perpetuity_denominator: 0.081432732895
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 5.275012022
pre_leverage_repair_intrinsic_company_equity_value_oku: 64.777538884
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 64.777538884
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 59.377250552
pv_old_holder_terminal_oku: 25.078633595
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 45.333729364
implied_irr_using_identical_prehorizon_cashflows: -0.018422362687

market_repurchase_price_20pct_below_assumption

内容を開く

名称: full_neutrality_with_purchase_price_minus_20pct
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 買い戻す株数一定・想定株価のみ20%低下。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0.830058017
cash_cost_minus_sbc_noncash_addback_oku: -0.014503364
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 0.8
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.444954004
pre_leverage_repair_intrinsic_company_equity_value_oku: 61.735472279
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 61.735472279
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 56.588790939
pv_old_holder_terminal_oku: 23.900897067
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 44.155992835
implied_irr_using_identical_prehorizon_cashflows: -0.02219898357

market_repurchase_price_20pct_above_assumption

内容を開く

名称: full_neutrality_with_purchase_price_plus_20pct
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 買い戻す株数一定・想定株価のみ20%上昇。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 1.245087026
cash_cost_minus_sbc_noncash_addback_oku: 0.400525645
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1.2
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.029924995
pre_leverage_repair_intrinsic_company_equity_value_oku: 55.971180491
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 55.971180491
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 51.305049018
pv_old_holder_terminal_oku: 21.669250663
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 41.924346432
implied_irr_using_identical_prehorizon_cashflows: -0.02976635851

old_terminal_value_before_correction_oku

56.404144

company_terminal_value_before_correction_oku

61.534032

old_terminal_value_change_oku

-2.457224022

cashflow_without_repurchase_no_dilution_is_invalid

はい

all_forecast_ex_dates_and_delivery_dates_unconfirmed

はい

accounting_references

1: S17
2: S18

pv_detail

内容を開く

pv_holder_cashflows_oku: 20.255096
pv_old_holder_terminal_oku: 22.785074
pv_total_oku: 43.04017
initial_old_holder_market_cap_oku: 104.920901
pv_vs_purchase_oku: -61.880732
pv_to_price_ratio: 0.4102154
implied_old_holder_irr: -0.0259117027

internal_checks

内容を開く

ten_year_annual_ledger_count: 10
initial_2026_stub_count: 1
terminal_2036_partial_count: 1
all_cashflow_dates_inside_start_end: はい
positive_cash_receipts_only: はい
terminal_holder_value_is_fraction_of_company_value: はい
payout_equals_sum_exact_cashflows: はい
pv_equals_timed_cashflow_plus_terminal: はい
equity_and_debt_bridge_all_periods_ok: はい
all_stock_identities_hold: はい
numerical_rounding_currency_oku: 9
terminal_sbc_market_purchase_cash_reconciles_to_awards_and_vesting_prices: はい
terminal_full_award_share_neutrality: はい
terminal_ifrs_sbc_addback_and_market_repurchase_are_separate: はい
old_holder_terminal_recalc_after_market_repurchase_matches_share_fraction: はい
no_new_post_2036_cashflow_added_to_timed_cashflows: はい

terminal_sbc_sensitivity_digest

内容を開く

full_market_repurchase_share_neutrality

内容を開く

old_holder_terminal_oku: 53.946919978
pv_total_oku: 43.040169633
holder_irr: -0.025911702735
new_dilutive_shares_per_year: 0

limited_budget_and_dilution

内容を開く

old_holder_terminal_oku: 55.062239938
pv_total_oku: 43.511237262
holder_irr: -0.024327641756
new_dilutive_shares_per_year: 1458935

no_market_repurchase_and_dilution

内容を開く

old_holder_terminal_oku: 59.377250552
pv_total_oku: 45.333729364
holder_irr: -0.018422362687
new_dilutive_shares_per_year: 7842817

market_repurchase_price_20pct_below_assumption

内容を開く

old_holder_terminal_oku: 56.588790939
pv_total_oku: 44.155992835
holder_irr: -0.02219898357
new_dilutive_shares_per_year: 0

market_repurchase_price_20pct_above_assumption

内容を開く

old_holder_terminal_oku: 51.305049018
pv_total_oku: 41.924346432
holder_irr: -0.02976635851
new_dilutive_shares_per_year: 0

売上高

36.090575

営業利益

7.182025

純利益

4.904101

equity_oku

22.849281

期間内の親会社利益合計（億）

42.901193

multiple

kind

fcfe_gordon_sbc_neutral

why

SBC費用控除後利益に非現金加算を戻し、将来の交付を中立化する時価買戻し額と必要再投資を差し引く。

detail

内容を開く

日付

2036-11-06

terminal_year_since_asof

10.001368925394

final_partial_2036_year_days

310

full_year_2036_parent_ifrs_profit_reference_oku

4.904101

forward_2037_revenue_reference_oku

36.852014

forward_2037_parent_ifrs_profit_reference_oku

5.060682

next_12_month_parent_profit_oku

5.034603

long_run_nominal_profit_growth_g

0.018

incremental_return_on_reinvested_equity_assumed

0.15

required_reinvestment_fraction

0.12

growth_return_convention

IFRS親会社利益にはSBCを費用として残し、成長用再投資g/限界ROEを控除。SBC非現金加算と株式交付を相殺する想定市場買付現金は別々に1度だけ計上。

forward_12month_distributable_equity_fcf_oku

4.2374395

perpetuity_value_pre_debt_repair_oku

58.853326385

one_time_leverage_repair_oku

company_intrinsic_equity_value_terminal_oku

58.853326385

old_holder_fraction_terminal

0.916633320356

old_holder_terminal_equity_value_oku

53.946919978

計算式

future_sbc_treatment

sbc_market_repurchase_reconciliation

内容を開く

2036_awards_and_general_buybacks

内容を開く

period

2036-01-01_to_2036-11-06

状態

scenario_forecast_not_reported_actual

full_2036_awards_planned_shares

7765165

awards_delivered_before_horizon_shares

7765165

awards_detail

内容を開く

想定日: 2036-03-31
状態: forecast
delivered_shares: 3727279
new_employee_issued_shares: 0
released_treasury_shares: 3727279
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3727279
assumed_market_price_gbp_per_share: 13.032201
required_market_purchase_cash_oku: 0.485746501

内容を開く

想定日: 2036-09-30
状態: forecast
delivered_shares: 4037886
new_employee_issued_shares: 0
released_treasury_shares: 4037886
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 4037886
assumed_market_price_gbp_per_share: 13.110322
required_market_purchase_cash_oku: 0.529379851

hypothetical_market_repurchase_shares_to_neutralise_2036_awards

7765165

weighted_market_purchase_price_gbp_per_share

13.072824

hypothetical_gross_repurchase_cash_needed_oku

1.015126352

full_calendar_2036_ifrs_sbc_expense_oku

0.830083

hypothetical_cost_minus_2036_full_year_sbc_expense_oku

0.185043352

company_discretionary_buybacks_already_in_2036_period_shares

6461046

company_discretionary_buybacks_already_in_2036_period_cash_oku

0.845336

company_net_repurchase_shares_minus_sbc_awards_2036

-1304119

warning_no_double_deduction

2036年交付株数を相殺する仮想買付費用は感応度用参考値であり、2036年の既存一般買戻し支出へ追加計上しない。両者の株数比較も記載。

2036_11_06_to_2037_11_06_forward_valuation_year

内容を開く

period_start

2036-11-06

period_end_exclusive

2037-11-06

days

365

状態

forward_12m_valuation_assumption_outside_10year_oldholder_cashflow

2036_nov_to_dec_days

2037_jan_to_nov_days

309

IFRS_ordinary_profit_after_sbc_oku

5.034603

sbc_noncash_from_2036_tail_oku

0.127007235

sbc_noncash_from_2037_part_oku

0.717554147

sbc_noncash_addback_once_oku

0.844561382

required_growth_reinvestment_deduction_oku

0.60415236

fcfe_before_sbc_share_replenishment_oku

5.275012022

annual_2037_employee_shares_expected_to_vest

7842817

full_neutrality_market_shares_to_rebuy

7842817

vesting_repurchase_events_assumed

内容を開く

vesting_date_assumed: 2037-03-31
状態: forecast
employee_delivery_shares_assumed: 3764552
shares_to_rebuy_for_full_neutrality: 3764552
market_repurchase_price_gbp_assumed: 13.188480007
cash_repurchase_required_oku: 0.496487188

内容を開く

vesting_date_assumed: 2037-09-30
状態: forecast
employee_delivery_shares_assumed: 4078265
shares_to_rebuy_for_full_neutrality: 4078265
market_repurchase_price_gbp_assumed: 13.267537395
cash_repurchase_required_oku: 0.541085334

weighted_mean_future_market_repurchase_price_gbp

13.22958985

gross_market_purchase_cost_oku

1.037572522

required_additional_cash_above_noncash_sbc_addback_oku

0.19301114

net_new_economic_shares_under_full_neutrality

terminal_economic_outstanding_shares_before_new_awards

906277176

terminal_old_holder_remaining_shares

830723857

terminal_old_holder_fraction

0.916633320356

perpetual_normalisation

ifrs2_fair_value_not_equivalent_to_market_buyback

はい

tax_difference_between_sbc_book_expense_and_cash_deduction

not separately forecast; tax timing/pricing may change cash FCFE

prohibition_on_adding_to_10year_cashflows

all post-horizon repurchase cash is a terminal FCFE normalization assumption only; not a 2026-2036 old-holder positive or negative timed_cashflow

sensitivity_cases

内容を開く

full_market_repurchase_share_neutrality

内容を開く

名称: full_market_repurchase_share_neutrality
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 同数の交付株を2037年3月/9月の市場価格で買い戻す。純株数中立、SBC費用と現金買戻し費用を別物として計上。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 1.037572522
cash_cost_minus_sbc_noncash_addback_oku: 0.19301114
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.2374395
pre_leverage_repair_intrinsic_company_equity_value_oku: 58.853326385
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 58.853326385
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 53.946919978
pv_old_holder_terminal_oku: 22.785073865
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 43.040169633
implied_irr_using_identical_prehorizon_cashflows: -0.025911702735

limited_budget_and_dilution

内容を開く

名称: limited_market_repurchase_at_sbc_addback_cash_budget
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: SBC加算相当額を上限に買い、残りの交付株は毎年希薄化。現金支出と希薄化を両方追跡。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0.844561405
cash_cost_minus_sbc_noncash_addback_oku: 2.4E-8
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 6383882
net_future_award_shares_unneutralised: 1458935
recurring_future_share_dilution_fraction_per_year: 0.001609811036
perpetuity_denominator: 0.07375469403
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.430450616
pre_leverage_repair_intrinsic_company_equity_value_oku: 60.070083331
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 60.070083331
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 55.062239938
pv_old_holder_terminal_oku: 23.256141493
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 43.511237262
implied_irr_using_identical_prehorizon_cashflows: -0.024327641756

no_market_repurchase_and_dilution

内容を開く

名称: no_repurchase_all_employee_awards_dilute
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 将来SBC交付株を市場で買戻さない。加算した非現金SBC分はFCFEに残すが、交付株が旧株主を希薄化させる。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0
cash_cost_minus_sbc_noncash_addback_oku: -0.844561382
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 0
net_future_award_shares_unneutralised: 7842817
recurring_future_share_dilution_fraction_per_year: 0.00865388339
perpetuity_denominator: 0.081432732895
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 5.275012022
pre_leverage_repair_intrinsic_company_equity_value_oku: 64.777538884
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 64.777538884
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 59.377250552
pv_old_holder_terminal_oku: 25.078633595
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 45.333729364
implied_irr_using_identical_prehorizon_cashflows: -0.018422362687

market_repurchase_price_20pct_below_assumption

内容を開く

名称: full_neutrality_with_purchase_price_minus_20pct
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 買い戻す株数一定・想定株価のみ20%低下。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 0.830058017
cash_cost_minus_sbc_noncash_addback_oku: -0.014503364
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 0.8
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.444954004
pre_leverage_repair_intrinsic_company_equity_value_oku: 61.735472279
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 61.735472279
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 56.588790939
pv_old_holder_terminal_oku: 23.900897067
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 44.155992835
implied_irr_using_identical_prehorizon_cashflows: -0.02219898357

market_repurchase_price_20pct_above_assumption

内容を開く

名称: full_neutrality_with_purchase_price_plus_20pct
状態: sensitivity_hypothesis_not_company_guidance
method_explanation: 買い戻す株数一定・想定株価のみ20%上昇。
forward_sbc_noncash_addback_oku: 0.844561382
forward_cash_spent_on_award_market_repurchase_oku: 1.245087026
cash_cost_minus_sbc_noncash_addback_oku: 0.400525645
forward_awards_shares: 7842817
market_shares_rebought_for_awards: 7842817
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.072
dilution_discount_method: constant annual fraction residual_shares/economic_shares; exact discrete Gordon denominator=(1+k)*(1+d)-(1+g). Simplifying normalized long-term dilution scenario.
company_value_interpretation: value of shareholders owning the entire economic equity at the 2036 cutoff under future award dilution; not a future post-grant market cap
purchase_price_multiplier: 1.2
sustainable_fcfe_after_growth_reinvestment_and_award_replacement_oku: 4.029924995
pre_leverage_repair_intrinsic_company_equity_value_oku: 55.971180491
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 55.971180491
old_holder_share_fraction_at_2036_11_06: 0.916633320356
old_holder_terminal_remaining_equity_value_oku: 51.305049018
pv_old_holder_terminal_oku: 21.669250663
pv_all_10year_existing_holder_cashflows_oku: 20.255095769
pv_total_oku: 41.924346432
implied_irr_using_identical_prehorizon_cashflows: -0.02976635851

old_terminal_value_before_correction_oku

56.404144

company_terminal_value_before_correction_oku

61.534032

old_terminal_value_change_oku

-2.457224022

cashflow_without_repurchase_no_dilution_is_invalid

はい

all_forecast_ex_dates_and_delivery_dates_unconfirmed

はい

accounting_references

1: S17
2: S18

弱気（確率 10.0%）

AIによる低価格化・解約増・為替逆風、収益性低迷。買戻し停止と防御的第三者増資を仮定。

確率の根拠

顧客・単価・買収・競争の将来展開に対する分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

不確実性

内容を開く

item: 2026-11-06 ordinary shares
known_latest: 2026-10-30 959080955 issued, 53451016 treasury, 5021344 EBT
unconfirmed: 2026-10-31 through 11-06 small award settlement/own-stock transfers
treatment: explicit proxy / not backdated as directly verified

内容を開く

item: 2026 FY results
known_latest: FY2025 audited, H1 2026 IFRS, Q3 sales
unconfirmed: 2026 FY profit, balance, total acquisition consideration
treatment: null actual; independent estimates based on reported periods

内容を開く

item: H1 forward buyback liability
known_latest: £257m as-of March 31 liability, £602m equity charge
unconfirmed: precise accounting of £8m gross-tax difference, exact later cash settlement split
treatment: settlement reduces cash only as already prebooked in March equity

内容を開く

item: 2026 acquisition values
known_latest: Criterion initial £33m plus £16m contingent recognised at fair value; Doyen AI 17 April £11m fixed initial; names/dates of other 2026 announced deals
unconfirmed: Bangert, Paperless, WholeHelp, MoovinCloud individual considerations, post-June price allocations, goodwill and acquired revenue
treatment: aggregate post-March spend £85m as proxy; no undisclosed consideration labelled actual

内容を開く

item: customers and pricing
known_latest: 102% net renewal by value H1 2026, ARR £2727m
unconfirmed: gross logo churn, precise paid-seat count, average revenue per paid logo
treatment: model as customer growth and ARPU assumptions not confirmed KPIs

内容を開く

item: market execution price for future buyback
known_latest: £11.65 per share Nov 6
unconfirmed: future cash paid/share/market prices
treatment: scenario-specific assumed price path, not terminal market PER

内容を開く

item: terminal after 2036 SBC
known_latest: IFRS expensed £51m in FY25, £27m H1 FY26
unconfirmed: long-run award release and employee repurchase price
treatment: 2036年交付予測株数と2037年市場価格による補填現金を別建てで終価へ反映。予測株数・株価・税務差異を感応度とともに表示。

内容を開く

item: 2026 November 6 debt and book equity
known_latest: 31 March 2026 net debt £1504m / book equity £220m
unconfirmed: full fiscal 2026 equity & October debt and cash
treatment: £1629m/£426.5m November proxies with bridges

内容を開く

item: future dividends
known_latest: 2026-06-04 ex-date 8.05p; 2026-01-08 ex-date 14.4p
unconfirmed: FY26 final at Nov6; all 2027-2036 amounts and ex/payment dates
treatment: assumptions only; no pre-anchored dividends or future announced claim

内容を開く

item: IFRS book equity forecasts
known_latest: IFRS equity may be depressed by buybacks; future negative equity can appear without instant insolvency
unconfirmed: future OCI, impairment, tax/share-based payment effects
treatment: zero forecast OCI; book capital excludes undisclosed FX/noncash remeasurement

内容を開く

item: 2037市場買付単価によるSBC中立化
known_latest: 2026-11-06時点の会社H1のSBC費用£27mと株式報酬注記
unconfirmed: 2036/2037付与・交付株数、市場価格、権利落ち日と補填買戻し実施可否、法人税効果の差
treatment: 5シナリオそれぞれに2036年権利交付イベントと翌年買戻し必要額、希薄化/追加現金±20%を表示。全件forecasts。

分析基準とデータ

価格・単価

11.65

株価基準日

2026-11-06

株数

900608595

株価の出所

https://markets.ft.markitdigital.com/data/equities/tearsheet/historical?s=SGE%3ALSE

株数の出所

https://www.investegate.co.uk/announcement/rns/sage-group--sge/total-voting-rights/9851189

detail

内容を開く

価格・単価

内容を開く

値

11.65

単位

GBP_per_share

original_quote

1165

quote_unit

GBX_pence

日付

2026-11-06

状態

verified_primary_exchange

出典番号

1: S5

株数

内容を開く

発行済み

959080955

自己株式

53451016

employee_benefit_trust

5021344

net_of_treasury_including_ebt

905629939

net_of_treasury_and_ebt

900608595

market_cap_basis

ordinary shares excluding own treasury and consolidated EBT (old external economic cohort)

exercisable_voting_rights_on_2026_10_30

905629939

voting_rights_vs_economic_denominator

RNS voting rights = issued minus treasury; EBT is included in DTR voting figure, but excluded for EPS/economic-share purposes under issuer interim accounts

exchange_displayed_market_cap_m_GBP

10899.26

model_economic_market_cap_m_GBP

10492.090132

exchange_market_cap_difference_m_GBP

407.169868

market_cap_discrepancy_explanation

LSE screen quote indicated £10,899.26m, not matching same-day price times October 30 EBT and treasury-excluded shares; source values have different share-count denominators/date and must not be blended.

old_holder_cohort_shares

900608595

時価総額（億）

104.920901317

share_date

2026-10-30

valuation_share_date

2026-11-06 (October 30 official share count carried forward as proxy)

状態

verified_2026-10-30_not_2026-11-06

出典番号

1: S4
2: S2

nov1_to_nov6_unknown_delta

未確認

ebt_excluded_from_economic_eps_denominator

はい

lseg_total_voting_rights_includes_ebt

はい

as_of_balance_sheet_estimate

内容を開く

日付

2026-11-06

状態

unpublished_estimate

親会社持分（億）

4.265

net_debt_oku

16.29

gross_borrowings_oku

20.8

現金（億）

4.51

非支配持分（億）

方法

31 March 2026 IFRS H1 equity £220m + assumed Apr1-Nov6 parent profit £246m + SBC equity credit £32.7m + option proceeds £2m - 2026 interim cash dividend £74.2m + OCI proxy £0 = £426.5m; cash net debt £1504m minus cash FCF £301m plus pre-booked buyback obligation settlement £257m, dividend £74m, acquisitions £85m, leases £10m = £1629m

出典番号

1: S2
2: S3
3: S4

bridge_from_verified_2026_03_31

内容を開く

start_equity_oku: 2.2
estimated_2026_04_01_to_11_06_profit_oku: 2.46
estimated_sbc_equity_credit_oku: 0.327
estimated_option_cash_proceeds_oku: 0.02
interim_dividend_after_march_oku: 0.742
assumed_other_comprehensive_income_oku: 0
net_book_equity_oku: 4.265
start_net_debt_oku: 15.04
forecast_cash_flow_after_march_oku: 3.01
settlement_of_prebooked_2026_buyback_liability_oku: 2.57
interim_dividend_cash_oku: 0.74
cash_acquisitions_not_disclosed_in_aggregate_oku: 0.85
new_leases_oku: 0.1
estimated_net_debt_oku: 16.29
buyback_accounting_note: £257m at 2026-03-31 was already a repurchase liability and an equity reduction in H1; paid later does NOT reduce equity again. Treasury/cancellation reflected in October 30 verified share count. No payout from this pre-asof buyback is credited to basis-date old cohort.

verified_financial_statements

FY2025_09_30_audited_ifrs

内容を開く

売上高

25.13

cost_of_sales_oku

1.83

sga_oku

営業利益（億）

5.3

finance_income_oku

0.12

finance_cost_oku

0.58

profit_before_tax_oku

4.84

income_tax_oku

1.15

parent_profit_after_sbc_oku

3.69

非支配持分（億）

親会社持分（億）

7.2

gross_borrowings_oku

15.79

現金（億）

3.9

net_debt_oku

11.89

share_based_compensation_expense_oku

0.51

cash_capex_oku

0.59

cash_acquisitions_net_oku

0.82

operating_cash_flow_oku

5.28

cash_dividends_paid_oku

2.07

出典番号

1: S1
2: S6

H1_2026_03_31_unaudited_ias34

内容を開く

売上高

13.63

cost_of_sales_oku

1.03

sga_oku

9.67

営業利益（億）

2.93

finance_income_oku

0.04

finance_cost_oku

0.35

profit_before_tax_oku

2.62

income_tax_oku

0.66

parent_profit_after_sbc_oku

1.96

非支配持分（億）

親会社持分（億）

2.2

gross_borrowings_oku

20.22

現金（億）

5.18

net_debt_oku

15.04

employee_equity_settled_sbc_expense_oku

0.27

employee_equity_services_credit_with_tax_oku

0.26

vesting_share_awards_treasury_shares

4784153

vesting_share_awards_ebt_shares

1292492

発行済株式数

987929800

自己株式数

55085354

ebt_shares

6772356

economic_shares

926072090

buybacks_deducted_in_equity_oku

6.02

buybacks_cash_paid_oku

3.53

prebooked_remaining_buyback_cash_liability_oku

2.57

gross_of_tax_buyback_recognition_note_oku

6.1

dividends_paid_oku

1.36

net_cash_generated_operations_oku

2.52

capitalised_intangible_cash_capex_oku

0.12

property_plant_cash_capex_oku

0.15

rd_spend_oku

2.08

cash_ma_and_equity_investments_oku

0.53

出典番号

1: S2
2: S15

Q3_2026_06_30_nine_months_company_underlying

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売上高

20.62

North_America_oku

9.32

UKIA_oku

6.02

Europe_oku

5.28

recurring_revenue_oku

20.02

software_subscription_oku

17.43

Sage_Business_Cloud_oku

17.62

cloud_native_oku

7.94

third_quarter_revenue_oku

6.99

organic_revenue_growth

0.1

subscription_penetration

0.84

parent_profit_oku

未確認

IFRS_capital_oku

未確認

状態

trading_update_underlying_revenue_only

出典番号

1: S3

検証上の留意点

1: full monetary arrays are in 100m GBP (not GBP millions)
2: all source dates <= 2026-11-06 or undated historical
3: forecast calendars 2027-2035 full, 2036 through Nov06 only; 2036 full-year numbers are operating reference, not equity/CF flows after horizon
4: annual periods 2026+2027-2036 are 55 modeled rows (5 cases x 11 chronological segments)
5: economic holders exclude consolidated employee trust on top of treasury
6: share counts are integers, value fields rounded at output, reconciliations checked before rounding
7: 修正版: SBC中立化には数量×想定買付単価で現金額を置き、IFRS2費用との同額仮定を排除。2036年までのCF・年次簿価・株数は変更せず終価/期待IRRのみ改定。

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分析に使用した資料

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