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。

このシナリオの数値・キャッシュフローを開く →

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。

事業別の前提

内容を開く

id: consolidated
数量: 1
価格・単価: 22.541167
営業利益: 3.922164
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: 1.296876377
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: 0.57221081451061
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: 0.702474704
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: 0.97741273100616
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: 1.273532602
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: 1.5687885010267
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: 0.689830159
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: 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: 1.250609015
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: 2.5845311430527
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: 0.677413217
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-06-07
ex_date_status: forecast_unconfirmed

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year: 2.8637919233402
想定日: 2029-09-17
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: 2.8939082819986
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: 2.9815195071869
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: 1.228098053
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: 3.5208761122519
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: 0.665219779
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-06-06
ex_date_status: forecast_unconfirmed

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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: 3.9808350444901
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: 1.205992288
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。

内容を開く

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: 4.5776865160849
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: 0.653245823
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: 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: 1.184284427
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-01-01
ex_date_status: forecast_unconfirmed

内容を開く

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。

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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: 0.641487398
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-06-03
ex_date_status: forecast_unconfirmed

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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: 5.9794661190965
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: 1.162967307
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: 6.5160848733744
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: 0.629940625
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: 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: 1.142033896
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: 7.5208761122519
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: 0.618601693
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: 7.9808350444901
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。

内容を開く

year: 8.268309377
想定日: 2035-02-12
金額: 1.121477285
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-01-04
ex_date_status: forecast_unconfirmed

内容を開く

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。

内容を開く

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。

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。

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。

内容を開く

year: 8.654346338
想定日: 2035-07-03
金額: 0.607466863
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-06-07
ex_date_status: forecast_unconfirmed

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。

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。

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。

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。

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。

内容を開く

year: 9.264887064
想定日: 2036-02-11
金額: 1.101290694
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

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。

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。

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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。

内容を開く

year: 9.656399726
想定日: 2036-07-03
金額: 0.596532459
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

100

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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。

101

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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。

102

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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。

その他の数値・前提

状態

hypothetical_scenario_not_company_guidance

narrative

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。

assumptions

内容を開く

customer_growth

1: -0.045
2: 0.005

arpu_growth

1: 0.006
2: 0.012

fx_growth

1: -0.02
2: 0

mna_rev_growth

1: 0
2: 0

margin

1: 0.166
2: 0.174

rd_ratio

1: 0.179
2: 0.176

sbc_ratio

1: 0.024
2: 0.025

capex_ratio

0.027

da_ratio

0.035

acq_amort_ratio

0.022

mna_spend_ratio

0.007

wc_delta_ratio

0.015

effective_tax

0.27

gross_interest_rate

0.052

cash_interest_rate

0.015

leverage_ceiling

2.5

div_final_2027_p

14.4

div_interim_2027_p

7.8

div_growth

-0.018

buyback_2027_oku

buyback_growth

buyback_execution_price_growth

-0.019

annual_awards_2027

6900000

awards_growth

0.005

external_issue_year

2029

external_issue_oku

1.3

terminal_g

0.01

incremental_roe

0.125

terminal_debt_target_ebitda

1.5

normalised_value_retention

0.935

terminal_margin

0.175

annual_ledger_2027_to_2036

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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

26.34044

revenue_segment_oku

North_America: 11.929585
UKIA: 7.692462
Europe: 6.718393

software_subscription_oku

22.231331

other_recurring_oku

3.239874

non_recurring_oku

0.869235

cloud_native_component_oku

10.035708

cost_of_sales_oku

2.001873

sga_oku

19.966054

of_which_rd_expensed_oku

4.714939

of_which_sbc_expensed_oku

0.632171

of_which_acquired_intangibles_amortization_oku

0.57949

other_sga_ex_rd_sbc_amort_oku

14.039455

statutory_operating_profit_oku

4.372513

finance_income_oku

0.07745

finance_costs_oku

1.0816

income_tax_oku

0.909458

parent_profit_after_sbc_oku

2.458905

depreciation_amortization_noncash_addback_oku

0.921915

sbc_noncash_addback_fcf_only_oku

0.632171

capex_total_cash_oku

0.711192

of_which_capitalised_software_oku

0.298701

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.184383

fcf_pre_ma_and_payout_oku

3.301799

fcf_after_ma_before_payout_oku

3.117416

sbc_net_credit_to_equity_oku

0.606884

non_controlling_interest_oku

capital_and_holder_ledger

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opening

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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）: 4.916742
net_debt_oku: 15.636697
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 5.163303
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.332046

closing

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発行済株式数: 959080955
自己株式数: 46836874
ebt_shares: 3569459
economic_outstanding_shares: 908674622
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.991123305521
親会社持分（億）: 5.978007
net_debt_oku: 14.523804
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 6.276196
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.451895

capital_bridge_oku

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opening_parent_equity: 4.916742
profit_post_sbc: 2.458905
sbc_equity_credit: 0.606884
dividends_recognised_in_equity: 2.004523
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 5.978007
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

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opening_net_debt: 15.636697
pre_ma_fcf_reduces_net_debt: 3.301799
ma_cash_outlays: 0.184383
paid_dividends: 2.004523
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 14.523804
rounding_free_bridge_error_oku: 0

share_bridge

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opening_issued: 959080955
opening_treasury: 52494874
opening_ebt: 4811459
opening_economic_outstanding: 901774622
employee_awards_delivered_shares: 6900000
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 959080955
closing_treasury: 46836874
closing_ebt: 3569459
closing_economic_outstanding: 908674622
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

2.004523

gross_paid_dividends_oku

2.004523

gross_buybacks_oku

old_holder_dividend_cash_oku

1.999351

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.999351

gross_dividend_pence_full_year_forecast

22.2

gross_buyback_budget_oku

shares_event_count

events

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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: 0.144
company_dividend_declared_oku: 1.298555
old_holder_entitlement_oku: 1.296876
shares_after: 901774622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.998706964056
parent_equity_after_oku: 3.668583
net_debt_after_oku: 15.585452
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: 1.298555
old_holder_cash_received_oku: 1.296876
shares_after: 901774622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.998706964056
parent_equity_after_oku: 3.954163
net_debt_after_oku: 16.593618
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2027-01-07

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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: 2715840
released_from_ebt: 596160
employee_awards_delivered: 3312000
shares_after: 905086622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.995052377429
parent_equity_after_oku: 4.365735
net_debt_after_oku: 16.175115

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: 905086622
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.5349
shares_after: 905086622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.995052377429
parent_equity_after_oku: 4.735309
net_debt_after_oku: 15.799317

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: 905086622
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.078
company_dividend_declared_oku: 0.705968
old_holder_entitlement_oku: 0.702475
shares_after: 905086622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.995052377429
parent_equity_after_oku: 4.19733
net_debt_after_oku: 15.6285
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: 905086622
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.705968
old_holder_cash_received_oku: 0.702475
shares_after: 905086622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.995052377429
parent_equity_after_oku: 4.466112
net_debt_after_oku: 16.06116
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: 905086622
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2942160
released_from_ebt: 645840
employee_awards_delivered: 3588000
shares_after: 908674622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.991123305521
parent_equity_after_oku: 5.196861
net_debt_after_oku: 15.318105

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: 908674622
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.4336
shares_after: 908674622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.991123305521
parent_equity_after_oku: 5.440444
net_debt_after_oku: 15.07042

timed_holder_cashflows_this_period

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year: 0.262833676
想定日: 2027-02-10
金額: 1.296876377
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-01-07
ex_date_status: forecast_unconfirmed

内容を開く

year: 0.65982204
想定日: 2027-07-05
金額: 0.702474704
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2027-06-03
ex_date_status: forecast_unconfirmed

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: -0.045
arpu_mix_assumed: 0.006
gbp_fx_translation_assumed: -0.02
ma_contribution_assumed: 0

full_year_revenue_oku

26.34044

full_year_operating_expenses_oku

内容を開く

cogs_oku: 2.001873
rd_expense_oku: 4.714939
sbc_expense_oku: 0.632171
acquired_intangibles_amortization_oku: 0.57949
other_sga_expense_oku: 14.039455

full_year_parent_net_income_oku

2.458905

full_year_fcf_before_distributions_and_ma_oku

3.301799

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

25.001858

revenue_segment_oku

North_America: 11.345843
UKIA: 7.302543
Europe: 6.353472

software_subscription_oku

21.076566

other_recurring_oku

3.000223

non_recurring_oku

0.925069

cloud_native_component_oku

9.4257

cost_of_sales_oku

1.891807

sga_oku

18.937518

of_which_rd_expensed_oku

4.466999

of_which_sbc_expensed_oku

0.602823

of_which_acquired_intangibles_amortization_oku

0.540874

other_sga_ex_rd_sbc_amort_oku

13.326824

statutory_operating_profit_oku

4.172532

finance_income_oku

0.094143

finance_costs_oku

1.0816

income_tax_oku

0.85997

parent_profit_after_sbc_oku

2.325105

depreciation_amortization_noncash_addback_oku

0.875065

sbc_noncash_addback_fcf_only_oku

0.602823

capex_total_cash_oku

0.67505

of_which_capitalised_software_oku

0.283521

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.175013

fcf_pre_ma_and_payout_oku

3.127942

fcf_after_ma_before_payout_oku

2.952929

sbc_net_credit_to_equity_oku

0.57871

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: 46836874
ebt_shares: 3569459
economic_outstanding_shares: 908674622
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.991123305521
親会社持分（億）: 5.978007
net_debt_oku: 14.523804
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 6.276196
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.451895

closing

内容を開く

発行済株式数: 959080955
自己株式数: 41150584
ebt_shares: 2321249
economic_outstanding_shares: 915609122
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.983616887775
親会社持分（億）: 6.898325
net_debt_oku: 13.554371
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 7.245629
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.565654

capital_bridge_oku

内容を開く

opening_parent_equity: 5.978007
profit_post_sbc: 2.325105
sbc_equity_credit: 0.57871
dividends_recognised_in_equity: 1.983497
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 6.898325
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 14.523804
pre_ma_fcf_reduces_net_debt: 3.127942
ma_cash_outlays: 0.175013
paid_dividends: 1.983497
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 13.554371
rounding_free_bridge_error_oku: -0

share_bridge

内容を開く

opening_issued: 959080955
opening_treasury: 46836874
opening_ebt: 3569459
opening_economic_outstanding: 908674622
employee_awards_delivered_shares: 6934500
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 959080955
closing_treasury: 41150584
closing_ebt: 2321249
closing_economic_outstanding: 915609122
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.983497

gross_paid_dividends_oku

1.983497

gross_buybacks_oku

old_holder_dividend_cash_oku

1.963363

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.963363

gross_dividend_pence_full_year_forecast

21.8

gross_buyback_budget_oku

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: 908674622
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.141408
company_dividend_declared_oku: 1.284939
old_holder_entitlement_oku: 1.273533
shares_after: 908674622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.991123305521
parent_equity_after_oku: 4.732738
net_debt_after_oku: 14.483464
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: 908674622
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.284939
old_holder_cash_received_oku: 1.273533
shares_after: 908674622
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.991123305521
parent_equity_after_oku: 5.010425
net_debt_after_oku: 15.486018
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: 908674622
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2729419
released_from_ebt: 599141
employee_awards_delivered: 3328560
shares_after: 912003182
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.987505978899
parent_equity_after_oku: 5.407121
net_debt_after_oku: 15.082613

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: 912003182
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.3147
shares_after: 912003182
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.987505978899
parent_equity_after_oku: 5.764148
net_debt_after_oku: 14.719548

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: 912003182
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.076596
company_dividend_declared_oku: 0.698558
old_holder_entitlement_oku: 0.68983
shares_after: 912003182
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.987505978899
parent_equity_after_oku: 5.200467
net_debt_after_oku: 14.58239
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: 912003182
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.698558
old_holder_cash_received_oku: 0.68983
shares_after: 912003182
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.987505978899
parent_equity_after_oku: 5.454352
net_debt_after_oku: 15.022768
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: 912003182
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2956871
released_from_ebt: 649069
employee_awards_delivered: 3605940
shares_after: 915609122
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.983616887775
parent_equity_after_oku: 6.152537
net_debt_after_oku: 14.312774

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: 915609122
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.2153
shares_after: 915609122
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.983616887775
parent_equity_after_oku: 6.398488
net_debt_after_oku: 14.062663

timed_holder_cashflows_this_period

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year: 1.262149213
想定日: 2028-02-10
金額: 1.273532602
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-01-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 1.656399726
想定日: 2028-07-03
金額: 0.689830159
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2028-06-01
ex_date_status: forecast_unconfirmed

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: -0.039444
arpu_mix_assumed: 0.006667
gbp_fx_translation_assumed: -0.017778
ma_contribution_assumed: 0

full_year_revenue_oku

25.001858

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.891807
rd_expense_oku: 4.466999
sbc_expense_oku: 0.602823
acquired_intangibles_amortization_oku: 0.540874
other_sga_expense_oku: 13.326824

full_year_parent_net_income_oku

2.325105

full_year_fcf_before_distributions_and_ma_oku

3.127942

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

23.942788

revenue_segment_oku

North_America: 10.886786
UKIA: 6.994167
Europe: 6.061835

software_subscription_oku

20.159828

other_recurring_oku

2.801306

non_recurring_oku

0.981654

cloud_native_component_oku

8.93066

cost_of_sales_oku

1.80369

sga_oku

18.122031

of_which_rd_expensed_oku

4.269797

of_which_sbc_expensed_oku

0.579948

of_which_acquired_intangibles_amortization_oku

0.509183

other_sga_ex_rd_sbc_amort_oku

12.763102

statutory_operating_profit_oku

4.017068

finance_income_oku

0.108684

finance_costs_oku

1.0816

income_tax_oku

0.821921

parent_profit_after_sbc_oku

2.222231

depreciation_amortization_noncash_addback_oku

0.837998

sbc_noncash_addback_fcf_only_oku

0.579948

capex_total_cash_oku

0.646455

of_which_capitalised_software_oku

0.271511

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.1676

fcf_pre_ma_and_payout_oku

2.993721

fcf_after_ma_before_payout_oku

2.826121

sbc_net_credit_to_equity_oku

0.55675

non_controlling_interest_oku

capital_and_holder_ledger

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opening

内容を開く

発行済株式数: 959080955
自己株式数: 41150584
ebt_shares: 2321249
economic_outstanding_shares: 915609122
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.983616887775
親会社持分（億）: 6.898325
net_debt_oku: 13.554371
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 7.245629
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.565654

closing

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発行済株式数: 971110511
自己株式数: 35435863
ebt_shares: 1066798
economic_outstanding_shares: 934607850
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.963621903026
親会社持分（億）: 9.014655
net_debt_oku: 11.390901
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 9.409099
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.674593

capital_bridge_oku

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opening_parent_equity: 6.898325
profit_post_sbc: 2.222231
sbc_equity_credit: 0.55675
dividends_recognised_in_equity: 1.962652
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 1.3
closing_parent_equity: 9.014655
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

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opening_net_debt: 13.554371
pre_ma_fcf_reduces_net_debt: 2.993721
ma_cash_outlays: 0.1676
paid_dividends: 1.962652
paid_repurchases: 0
third_party_equity_cash_receipts: 1.3
closing_net_debt: 11.390901
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 959080955
opening_treasury: 41150584
opening_ebt: 2321249
opening_economic_outstanding: 915609122
employee_awards_delivered_shares: 6969172
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 12029556
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 35435863
closing_ebt: 1066798
closing_economic_outstanding: 934607850
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.962652

gross_paid_dividends_oku

1.962652

gross_buybacks_oku

old_holder_dividend_cash_oku

1.928022

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.928022

gross_dividend_pence_full_year_forecast

21.408

gross_buyback_budget_oku

shares_event_count

events

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event_type: div_ex
想定日: 2029-01-04
time_since_base_years: 2.162902122
状態: explicit_forecast_assumption
shares_before: 915609122
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.138863
company_dividend_declared_oku: 1.271439
old_holder_entitlement_oku: 1.250609
shares_after: 915609122
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.983616887775
parent_equity_after_oku: 5.649727
net_debt_after_oku: 13.531143
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: 915609122
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.271439
old_holder_cash_received_oku: 1.250609
shares_after: 915609122
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.983616887775
parent_equity_after_oku: 5.946659
net_debt_after_oku: 14.500613
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: 915609122
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2743066
released_from_ebt: 602137
employee_awards_delivered: 3345203
shares_after: 918954325
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.980036298322
parent_equity_after_oku: 6.296887
net_debt_after_oku: 14.144444

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: 918954325
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.0999
shares_after: 918954325
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.980036298322
parent_equity_after_oku: 6.647115
net_debt_after_oku: 13.788276

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: 918954325
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.075217
company_dividend_declared_oku: 0.691212
old_holder_entitlement_oku: 0.677413
shares_after: 918954325
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.980036298322
parent_equity_after_oku: 6.131016
net_debt_after_oku: 13.610191
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: 918954325
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.691212
old_holder_cash_received_oku: 0.677413
shares_after: 918954325
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.980036298322
parent_equity_after_oku: 6.328971
net_debt_after_oku: 14.100091
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2029-06-07

内容を開く

event_type: new_equity
想定日: 2029-09-17
time_since_base_years: 2.863791923
状態: explicit_forecast_assumption
shares_before: 918954325
old_holder_shares_before: 900608595
issued_third_party_shares: 12029556
gross_subscription_proceeds_oku: 1.3
subscription_price_gbp_assumed: 10.8067
shares_after: 930983881
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.967372919532
parent_equity_after_oku: 8.207608
net_debt_after_oku: 12.211638

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: 930983881
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2971655
released_from_ebt: 652314
employee_awards_delivered: 3623969
shares_after: 934607850
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.963621903026
parent_equity_after_oku: 8.291358
net_debt_after_oku: 12.126467

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: 934607850
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 11.0024
shares_after: 934607850
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.963621903026
parent_equity_after_oku: 8.534995
net_debt_after_oku: 11.878698

timed_holder_cashflows_this_period

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year: 2.269678303
想定日: 2029-02-12
金額: 1.250609015
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-01-04
ex_date_status: forecast_unconfirmed

内容を開く

year: 2.655715264
想定日: 2029-07-03
金額: 0.677413217
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2029-06-07
ex_date_status: forecast_unconfirmed

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: -0.033889
arpu_mix_assumed: 0.007333
gbp_fx_translation_assumed: -0.015556
ma_contribution_assumed: 0

full_year_revenue_oku

23.942788

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.80369
rd_expense_oku: 4.269797
sbc_expense_oku: 0.579948
acquired_intangibles_amortization_oku: 0.509183
other_sga_expense_oku: 12.763102

full_year_parent_net_income_oku

2.222231

full_year_fcf_before_distributions_and_ma_oku

2.993721

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

23.131288

revenue_segment_oku

North_America: 10.538615
UKIA: 6.758037
Europe: 5.834636

software_subscription_oku

19.453413

other_recurring_oku

2.636967

non_recurring_oku

1.040908

cloud_native_component_oku

8.535445

cost_of_sales_oku

1.734847

sga_oku

17.494964

of_which_rd_expensed_oku

4.117369

of_which_sbc_expensed_oku

0.562861

of_which_acquired_intangibles_amortization_oku

0.483444

other_sga_ex_rd_sbc_amort_oku

12.331289

statutory_operating_profit_oku

3.901477

finance_income_oku

0.141136

finance_costs_oku

1.0816

income_tax_oku

0.799474

parent_profit_after_sbc_oku

2.16154

depreciation_amortization_noncash_addback_oku

0.809595

sbc_noncash_addback_fcf_only_oku

0.562861

capex_total_cash_oku

0.624545

of_which_capitalised_software_oku

0.262309

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.161919

fcf_pre_ma_and_payout_oku

2.909452

fcf_after_ma_before_payout_oku

2.747533

sbc_net_credit_to_equity_oku

0.540347

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: 971110511
自己株式数: 35435863
ebt_shares: 1066798
economic_outstanding_shares: 934607850
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.963621903026
親会社持分（億）: 9.014655
net_debt_oku: 11.390901
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 9.409099
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.674593

closing

内容を開く

発行済株式数: 971110511
自己株式数: 29498643
ebt_shares: 0
economic_outstanding_shares: 941611868
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.956454167164
親会社持分（億）: 9.749265
net_debt_oku: 10.610645
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 10.189355
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.779841

capital_bridge_oku

内容を開く

opening_parent_equity: 9.014655
profit_post_sbc: 2.16154
sbc_equity_credit: 0.540347
dividends_recognised_in_equity: 1.967277
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 9.749265
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 11.390901
pre_ma_fcf_reduces_net_debt: 2.909452
ma_cash_outlays: 0.161919
paid_dividends: 1.967277
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 10.610645
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 971110511
opening_treasury: 35435863
opening_ebt: 1066798
opening_economic_outstanding: 934607850
employee_awards_delivered_shares: 7004018
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 29498643
closing_ebt: 0
closing_economic_outstanding: 941611868
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.967277

gross_paid_dividends_oku

1.967277

gross_buybacks_oku

old_holder_dividend_cash_oku

1.893318

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.893318

gross_dividend_pence_full_year_forecast

21.023

gross_buyback_budget_oku

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: 934607850
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.136363
company_dividend_declared_oku: 1.274461
old_holder_entitlement_oku: 1.228098
shares_after: 934607850
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.963621903026
parent_equity_after_oku: 7.754999
net_debt_after_oku: 11.375846
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: 934607850
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.274461
old_holder_cash_received_oku: 1.228098
shares_after: 934607850
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.963621903026
parent_equity_after_oku: 8.043694
net_debt_after_oku: 12.356735
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: 934607850
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 2756782
released_from_ebt: 605147
employee_awards_delivered: 3361929
shares_after: 937969779
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.960168030105
parent_equity_after_oku: 8.384205
net_debt_after_oku: 12.010471

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: 937969779
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.8891
shares_after: 937969779
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.960168030105
parent_equity_after_oku: 8.73212
net_debt_after_oku: 11.656679

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: 937969779
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.073863
company_dividend_declared_oku: 0.692816
old_holder_entitlement_oku: 0.66522
shares_after: 937969779
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.960168030105
parent_equity_after_oku: 8.202157
net_debt_after_oku: 11.491074
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: 937969779
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.692816
old_holder_cash_received_oku: 0.66522
shares_after: 937969779
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.960168030105
parent_equity_after_oku: 8.402023
net_debt_after_oku: 11.980648
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2030-06-06

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: 937969779
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3180438
released_from_ebt: 461651
employee_awards_delivered: 3642089
shares_after: 941611868
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.956454167164
parent_equity_after_oku: 9.060839
net_debt_after_oku: 11.310702

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: 941611868
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.7935
shares_after: 941611868
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.956454167164
parent_equity_after_oku: 9.282912
net_debt_after_oku: 11.084877

timed_holder_cashflows_this_period

内容を開く

year: 3.266255989
想定日: 2030-02-11
金額: 1.228098053
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-01-03
ex_date_status: forecast_unconfirmed

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year: 3.655030801
想定日: 2030-07-03
金額: 0.665219779
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2030-06-06
ex_date_status: forecast_unconfirmed

full_year_financial_reference

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year

2030

状態

scenario_assumption

growth_drivers

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net_customer_growth_assumed: -0.028333
arpu_mix_assumed: 0.008
gbp_fx_translation_assumed: -0.013333
ma_contribution_assumed: 0

full_year_revenue_oku

23.131288

full_year_operating_expenses_oku

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cogs_oku: 1.734847
rd_expense_oku: 4.117369
sbc_expense_oku: 0.562861
acquired_intangibles_amortization_oku: 0.483444
other_sga_expense_oku: 12.331289

full_year_parent_net_income_oku

2.16154

full_year_fcf_before_distributions_and_ma_oku

2.909452

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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

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売上高

22.543299

revenue_segment_oku

North_America: 10.291016
UKIA: 6.587152
Europe: 5.665131

software_subscription_oku

18.936371

other_recurring_oku

2.502306

non_recurring_oku

1.104622

cloud_native_component_oku

8.228304

cost_of_sales_oku

1.683233

sga_oku

17.037724

of_which_rd_expensed_oku

4.005193

of_which_sbc_expensed_oku

0.551058

of_which_acquired_intangibles_amortization_oku

0.462889

other_sga_ex_rd_sbc_amort_oku

12.018584

statutory_operating_profit_oku

3.822342

finance_income_oku

0.15284

finance_costs_oku

1.0816

income_tax_oku

0.781267

parent_profit_after_sbc_oku

2.112315

depreciation_amortization_noncash_addback_oku

0.789015

sbc_noncash_addback_fcf_only_oku

0.551058

capex_total_cash_oku

0.608669

of_which_capitalised_software_oku

0.255641

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.157803

fcf_pre_ma_and_payout_oku

2.84372

fcf_after_ma_before_payout_oku

2.685916

sbc_net_credit_to_equity_oku

0.529016

non_controlling_interest_oku

capital_and_holder_ledger

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opening

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発行済株式数: 971110511
自己株式数: 29498643
ebt_shares: 0
economic_outstanding_shares: 941611868
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.956454167164
親会社持分（億）: 9.749265
net_debt_oku: 10.610645
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 10.189355
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.779841

closing

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発行済株式数: 971110511
自己株式数: 22459605
ebt_shares: 0
economic_outstanding_shares: 948650906
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.949357228569
親会社持分（億）: 10.444259
net_debt_oku: 9.871066
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 10.928934
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.882413

capital_bridge_oku

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opening_parent_equity: 9.749265
profit_post_sbc: 2.112315
sbc_equity_credit: 0.529016
dividends_recognised_in_equity: 1.946337
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 10.444259
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

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opening_net_debt: 10.610645
pre_ma_fcf_reduces_net_debt: 2.84372
ma_cash_outlays: 0.157803
paid_dividends: 1.946337
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 9.871066
rounding_free_bridge_error_oku: -0

share_bridge

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opening_issued: 971110511
opening_treasury: 29498643
opening_ebt: 0
opening_economic_outstanding: 941611868
employee_awards_delivered_shares: 7039038
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 22459605
closing_ebt: 0
closing_economic_outstanding: 948650906
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.946337

gross_paid_dividends_oku

1.946337

gross_buybacks_oku

old_holder_dividend_cash_oku

1.859238

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.859238

gross_dividend_pence_full_year_forecast

20.644

gross_buyback_budget_oku

shares_event_count

events

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event_type: div_ex
想定日: 2031-01-02
time_since_base_years: 4.156057495
状態: explicit_forecast_assumption
shares_before: 941611868
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.133909
company_dividend_declared_oku: 1.260899
old_holder_entitlement_oku: 1.205992
shares_after: 941611868
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.956454167164
parent_equity_after_oku: 8.495602
net_debt_after_oku: 10.603287
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-01-02

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event_type: div_pay
想定日: 2031-02-10
time_since_base_years: 4.262833676
状態: explicit_forecast_assumption
shares_before: 941611868
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.260899
old_holder_cash_received_oku: 1.205992
shares_after: 941611868
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.956454167164
parent_equity_after_oku: 8.777827
net_debt_after_oku: 11.577198
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-01-02

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event_type: award
想定日: 2031-03-31
time_since_base_years: 4.396988364
状態: explicit_forecast_assumption
shares_before: 941611868
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3378738
released_from_ebt: 0
employee_awards_delivered: 3378738
shares_after: 944990606
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.953034442122
parent_equity_after_oku: 9.132416
net_debt_after_oku: 11.216622

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event_type: buyback
想定日: 2031-05-15
time_since_base_years: 4.52019165
状態: explicit_forecast_assumption
shares_before: 944990606
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.6824
shares_after: 944990606
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.953034442122
parent_equity_after_oku: 9.45806
net_debt_after_oku: 10.885482

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event_type: div_ex
想定日: 2031-06-05
time_since_base_years: 4.577686516
状態: explicit_forecast_assumption
shares_before: 944990606
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.072534
company_dividend_declared_oku: 0.685438
old_holder_entitlement_oku: 0.653246
shares_after: 944990606
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.953034442122
parent_equity_after_oku: 8.924589
net_debt_after_oku: 10.73095
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: 944990606
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.685438
old_holder_cash_received_oku: 0.653246
shares_after: 944990606
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.953034442122
parent_equity_after_oku: 9.127212
net_debt_after_oku: 11.210345
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2031-06-05

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event_type: award
想定日: 2031-09-30
time_since_base_years: 4.898015058
状態: explicit_forecast_assumption
shares_before: 944990606
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3660300
released_from_ebt: 0
employee_awards_delivered: 3660300
shares_after: 948650906
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.949357228569
parent_equity_after_oku: 9.771262
net_debt_after_oku: 10.555423

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event_type: buyback
想定日: 2031-10-30
time_since_base_years: 4.980150582
状態: explicit_forecast_assumption
shares_before: 948650906
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.5885
shares_after: 948650906
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.949357228569
parent_equity_after_oku: 9.988358
net_debt_after_oku: 10.334662

timed_holder_cashflows_this_period

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year: 4.262833676
想定日: 2031-02-10
金額: 1.205992288
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-01-02
ex_date_status: forecast_unconfirmed

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year: 4.654346338
想定日: 2031-07-03
金額: 0.653245823
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2031-06-05
ex_date_status: forecast_unconfirmed

full_year_financial_reference

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year

2031

状態

scenario_assumption

growth_drivers

内容を開く

net_customer_growth_assumed: -0.022778
arpu_mix_assumed: 0.008667
gbp_fx_translation_assumed: -0.011111
ma_contribution_assumed: 0

full_year_revenue_oku

22.543299

full_year_operating_expenses_oku

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cogs_oku: 1.683233
rd_expense_oku: 4.005193
sbc_expense_oku: 0.551058
acquired_intangibles_amortization_oku: 0.462889
other_sga_expense_oku: 12.018584

full_year_parent_net_income_oku

2.112315

full_year_fcf_before_distributions_and_ma_oku

2.84372

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

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売上高

22.161449

revenue_segment_oku

North_America: 10.136647
UKIA: 6.476462
Europe: 5.54834

software_subscription_oku

18.593455

other_recurring_oku

2.393436

non_recurring_oku

1.174557

cloud_native_component_oku

8.000283

cost_of_sales_oku

1.647334

sga_oku

16.736819

of_which_rd_expensed_oku

3.929964

of_which_sbc_expensed_oku

0.544187

of_which_acquired_intangibles_amortization_oku

0.446923

other_sga_ex_rd_sbc_amort_oku

11.815746

statutory_operating_profit_oku

3.777296

finance_income_oku

0.163934

finance_costs_oku

1.0816

income_tax_oku

0.7721

parent_profit_after_sbc_oku

2.08753

depreciation_amortization_noncash_addback_oku

0.775651

sbc_noncash_addback_fcf_only_oku

0.544187

capex_total_cash_oku

0.598359

of_which_capitalised_software_oku

0.251311

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.15513

fcf_pre_ma_and_payout_oku

2.809008

fcf_after_ma_before_payout_oku

2.653878

sbc_net_credit_to_equity_oku

0.522419

non_controlling_interest_oku

capital_and_holder_ledger

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opening

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発行済株式数: 971110511
自己株式数: 22459605
ebt_shares: 0
economic_outstanding_shares: 948650906
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.949357228569
親会社持分（億）: 10.444259
net_debt_oku: 9.871066
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 10.928934
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.882413

closing

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発行済株式数: 971110511
自己株式数: 15385371
ebt_shares: 0
economic_outstanding_shares: 955725140
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.94233012956
親会社持分（億）: 11.128623
net_debt_oku: 9.142773
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 11.657227
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.983247

capital_bridge_oku

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opening_parent_equity: 10.444259
profit_post_sbc: 2.08753
sbc_equity_credit: 0.522419
dividends_recognised_in_equity: 1.925585
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 11.128623
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

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opening_net_debt: 9.871066
pre_ma_fcf_reduces_net_debt: 2.809008
ma_cash_outlays: 0.15513
paid_dividends: 1.925585
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 9.142773
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 971110511
opening_treasury: 22459605
opening_ebt: 0
opening_economic_outstanding: 948650906
employee_awards_delivered_shares: 7074234
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 15385371
closing_ebt: 0
closing_economic_outstanding: 955725140
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.925585

gross_paid_dividends_oku

1.925585

gross_buybacks_oku

old_holder_dividend_cash_oku

1.825772

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.825772

gross_dividend_pence_full_year_forecast

20.273

gross_buyback_budget_oku

shares_event_count

events

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event_type: div_ex
想定日: 2032-01-01
time_since_base_years: 5.152635181
状態: explicit_forecast_assumption
shares_before: 948650906
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.131498
company_dividend_declared_oku: 1.247459
old_holder_entitlement_oku: 1.184284
shares_after: 948650906
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.949357228569
parent_equity_after_oku: 9.1968
net_debt_after_oku: 9.871066
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: 948650906
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.247459
old_holder_cash_received_oku: 1.184284
shares_after: 948650906
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.949357228569
parent_equity_after_oku: 9.48204
net_debt_after_oku: 10.828484
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: 948650906
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3395632
released_from_ebt: 0
employee_awards_delivered: 3395632
shares_after: 952046538
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.945971188438
parent_equity_after_oku: 9.83859
net_debt_after_oku: 10.465932

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: 952046538
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.4796
shares_after: 952046538
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.945971188438
parent_equity_after_oku: 10.152355
net_debt_after_oku: 10.146887

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: 952046538
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.071228
company_dividend_declared_oku: 0.678126
old_holder_entitlement_oku: 0.641487
shares_after: 952046538
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.945971188438
parent_equity_after_oku: 9.616849
net_debt_after_oku: 10.001866
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: 952046538
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.678126
old_holder_cash_received_oku: 0.641487
shares_after: 952046538
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.945971188438
parent_equity_after_oku: 9.845041
net_debt_after_oku: 10.447959
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: 952046538
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3678602
released_from_ebt: 0
employee_awards_delivered: 3678602
shares_after: 955725140
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.94233012956
parent_equity_after_oku: 10.465439
net_debt_after_oku: 9.817119

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: 955725140
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.3875
shares_after: 955725140
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.94233012956
parent_equity_after_oku: 10.672238
net_debt_after_oku: 9.606839

timed_holder_cashflows_this_period

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year: 5.262149213
想定日: 2032-02-10
金額: 1.184284427
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-01-01
ex_date_status: forecast_unconfirmed

内容を開く

year: 5.661875428
想定日: 2032-07-05
金額: 0.641487398
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2032-06-03
ex_date_status: forecast_unconfirmed

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: -0.017222
arpu_mix_assumed: 0.009333
gbp_fx_translation_assumed: -0.008889
ma_contribution_assumed: 0

full_year_revenue_oku

22.161449

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.647334
rd_expense_oku: 3.929964
sbc_expense_oku: 0.544187
acquired_intangibles_amortization_oku: 0.446923
other_sga_expense_oku: 11.815746

full_year_parent_net_income_oku

2.08753

full_year_fcf_before_distributions_and_ma_oku

2.809008

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

21.974184

revenue_segment_oku

North_America: 10.070769
UKIA: 6.422615
Europe: 5.480801

software_subscription_oku

18.414367

other_recurring_oku

2.307289

non_recurring_oku

1.252529

cloud_native_component_oku

7.844784

cost_of_sales_oku

1.62609

sga_oku

16.583185

of_which_rd_expensed_oku

3.889431

of_which_sbc_expensed_oku

0.54203

of_which_acquired_intangibles_amortization_oku

0.435089

other_sga_ex_rd_sbc_amort_oku

11.716635

statutory_operating_profit_oku

3.76491

finance_income_oku

0.174858

finance_costs_oku

1.0816

income_tax_oku

0.771706

parent_profit_after_sbc_oku

2.086463

depreciation_amortization_noncash_addback_oku

0.769096

sbc_noncash_addback_fcf_only_oku

0.54203

capex_total_cash_oku

0.593303

of_which_capitalised_software_oku

0.249187

working_capital_reinvestment_oku

acquisition_cash_spend_oku

0.153819

fcf_pre_ma_and_payout_oku

2.804286

fcf_after_ma_before_payout_oku

2.650467

sbc_net_credit_to_equity_oku

0.520349

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: 971110511
自己株式数: 15385371
ebt_shares: 0
economic_outstanding_shares: 955725140
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.94233012956
親会社持分（億）: 11.128623
net_debt_oku: 9.142773
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 11.657227
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.983247

closing

内容を開く

発行済株式数: 971110511
自己株式数: 8275766
ebt_shares: 0
economic_outstanding_shares: 962834745
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.935371931348
親会社持分（億）: 11.830415
net_debt_oku: 8.397325
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 12.402675
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.08323

capital_bridge_oku

内容を開く

opening_parent_equity: 11.128623
profit_post_sbc: 2.086463
sbc_equity_credit: 0.520349
dividends_recognised_in_equity: 1.905019
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 11.830415
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 9.142773
pre_ma_fcf_reduces_net_debt: 2.804286
ma_cash_outlays: 0.153819
paid_dividends: 1.905019
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 8.397325
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 971110511
opening_treasury: 15385371
opening_ebt: 0
opening_economic_outstanding: 955725140
employee_awards_delivered_shares: 7109605
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 8275766
closing_ebt: 0
closing_economic_outstanding: 962834745
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.905019

gross_paid_dividends_oku

1.905019

gross_buybacks_oku

old_holder_dividend_cash_oku

1.792908

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.792908

gross_dividend_pence_full_year_forecast

19.908

gross_buyback_budget_oku

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: 955725140
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.129131
company_dividend_declared_oku: 1.23414
old_holder_entitlement_oku: 1.162967
shares_after: 955725140
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.94233012956
parent_equity_after_oku: 9.930193
net_debt_after_oku: 9.106465
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: 955725140
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.23414
old_holder_cash_received_oku: 1.162967
shares_after: 955725140
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.94233012956
parent_equity_after_oku: 10.180161
net_debt_after_oku: 10.086451
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: 955725140
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3412610
released_from_ebt: 0
employee_awards_delivered: 3412610
shares_after: 959137750
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.938977321037
parent_equity_after_oku: 10.530116
net_debt_after_oku: 9.730635

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: 959137750
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.2811
shares_after: 959137750
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.938977321037
parent_equity_after_oku: 10.83722
net_debt_after_oku: 9.418388

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: 959137750
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.069946
company_dividend_declared_oku: 0.670879
old_holder_entitlement_oku: 0.629941
shares_after: 959137750
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.938977321037
parent_equity_after_oku: 10.30918
net_debt_after_oku: 9.273157
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: 959137750
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.670879
old_holder_cash_received_oku: 0.629941
shares_after: 959137750
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.938977321037
parent_equity_after_oku: 10.537722
net_debt_after_oku: 9.711667
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: 959137750
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3696995
released_from_ebt: 0
employee_awards_delivered: 3696995
shares_after: 962834745
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.935371931348
parent_equity_after_oku: 11.166214
net_debt_after_oku: 9.07265

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: 962834745
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.1908
shares_after: 962834745
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.935371931348
parent_equity_after_oku: 11.366188
net_debt_after_oku: 8.869326

timed_holder_cashflows_this_period

内容を開く

year: 6.264202601
想定日: 2033-02-10
金額: 1.162967307
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-01-06
ex_date_status: forecast_unconfirmed

内容を開く

year: 6.658453114
想定日: 2033-07-04
金額: 0.629940625
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2033-06-02
ex_date_status: forecast_unconfirmed

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: -0.011667
arpu_mix_assumed: 0.01
gbp_fx_translation_assumed: -0.006667
ma_contribution_assumed: 0

full_year_revenue_oku

21.974184

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.62609
rd_expense_oku: 3.889431
sbc_expense_oku: 0.54203
acquired_intangibles_amortization_oku: 0.435089
other_sga_expense_oku: 11.716635

full_year_parent_net_income_oku

2.086463

full_year_fcf_before_distributions_and_ma_oku

2.804286

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

21.975194

revenue_segment_oku

North_America: 10.091009
UKIA: 6.423789
Europe: 5.460396

software_subscription_oku

18.393237

other_recurring_oku

2.24147

non_recurring_oku

1.340487

cloud_native_component_oku

7.757243

cost_of_sales_oku

1.618839

sga_oku

16.571738

of_which_rd_expensed_oku

3.882284

of_which_sbc_expensed_oku

0.544496

of_which_acquired_intangibles_amortization_oku

0.427051

other_sga_ex_rd_sbc_amort_oku

11.717906

statutory_operating_profit_oku

3.784617

finance_income_oku

0.18604

finance_costs_oku

1.0816

income_tax_oku

0.780045

parent_profit_after_sbc_oku

2.109011

depreciation_amortization_noncash_addback_oku

0.769132

sbc_noncash_addback_fcf_only_oku

0.544496

capex_total_cash_oku

0.59333

of_which_capitalised_software_oku

0.249199

working_capital_reinvestment_oku

1.5E-5

acquisition_cash_spend_oku

0.153826

fcf_pre_ma_and_payout_oku

2.829294

fcf_after_ma_before_payout_oku

2.675468

sbc_net_credit_to_equity_oku

0.522717

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: 971110511
自己株式数: 8275766
ebt_shares: 0
economic_outstanding_shares: 962834745
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.935371931348
親会社持分（億）: 11.830415
net_debt_oku: 8.397325
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 12.402675
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.08323

closing

内容を開く

発行済株式数: 971110511
自己株式数: 1130613
ebt_shares: 0
economic_outstanding_shares: 969979898
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.928481710659
親会社持分（億）: 12.577503
net_debt_oku: 7.606497
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 13.193503
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.183217

capital_bridge_oku

内容を開く

opening_parent_equity: 11.830415
profit_post_sbc: 2.109011
sbc_equity_credit: 0.522717
dividends_recognised_in_equity: 1.88464
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 12.577503
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 8.397325
pre_ma_fcf_reduces_net_debt: 2.829294
ma_cash_outlays: 0.153826
paid_dividends: 1.88464
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 7.606497
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 971110511
opening_treasury: 8275766
opening_ebt: 0
opening_economic_outstanding: 962834745
employee_awards_delivered_shares: 7145153
employee_newly_issued_shares: 0
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 971110511
closing_treasury: 1130613
closing_ebt: 0
closing_economic_outstanding: 969979898
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.88464

gross_paid_dividends_oku

1.88464

gross_buybacks_oku

old_holder_dividend_cash_oku

1.760636

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.760636

gross_dividend_pence_full_year_forecast

19.549

gross_buyback_budget_oku

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2034-01-05
time_since_base_years: 7.16495551
状態: explicit_forecast_assumption
shares_before: 962834745
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.126807
company_dividend_declared_oku: 1.220941
old_holder_entitlement_oku: 1.142034
shares_after: 962834745
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.935371931348
parent_equity_after_oku: 10.638315
net_debt_after_oku: 8.368005
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-01-05

内容を開く

event_type: div_pay
想定日: 2034-02-10
time_since_base_years: 7.263518138
状態: explicit_forecast_assumption
shares_before: 962834745
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.220941
old_holder_cash_received_oku: 1.142034
shares_after: 962834745
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.935371931348
parent_equity_after_oku: 10.897883
net_debt_after_oku: 9.325064
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-01-05

内容を開く

event_type: award
想定日: 2034-03-31
time_since_base_years: 7.397672827
状態: explicit_forecast_assumption
shares_before: 962834745
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3429673
released_from_ebt: 0
employee_awards_delivered: 3429673
shares_after: 966264418
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.932051908591
parent_equity_after_oku: 11.251183
net_debt_after_oku: 8.965892

内容を開く

event_type: buyback
想定日: 2034-05-15
time_since_base_years: 7.520876112
状態: explicit_forecast_assumption
shares_before: 966264418
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 10.0849
shares_after: 966264418
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.932051908591
parent_equity_after_oku: 11.575643
net_debt_after_oku: 8.63604

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: 966264418
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.068687
company_dividend_declared_oku: 0.663699
old_holder_entitlement_oku: 0.618602
shares_after: 966264418
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.932051908591
parent_equity_after_oku: 11.034518
net_debt_after_oku: 8.511429
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: 966264418
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.663699
old_holder_cash_received_oku: 0.618602
shares_after: 966264418
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.932051908591
parent_equity_after_oku: 11.265245
net_debt_after_oku: 8.940566
ex_date_status: forecast_unconfirmed
ex_date_assumed: 2034-06-01

内容を開く

event_type: award
想定日: 2034-09-29
time_since_base_years: 7.89596167
状態: explicit_forecast_assumption
shares_before: 966264418
old_holder_shares_before: 900608595
issued_new_employee_shares: 0
released_from_treasury: 3715480
released_from_ebt: 0
employee_awards_delivered: 3715480
shares_after: 969979898
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.928481710659
parent_equity_after_oku: 11.899743
net_debt_after_oku: 8.295522

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: 969979898
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.9963
shares_after: 969979898
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.928481710659
parent_equity_after_oku: 12.12326
net_debt_after_oku: 8.06829

timed_holder_cashflows_this_period

内容を開く

year: 7.263518138
想定日: 2034-02-10
金額: 1.142033896
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-01-05
ex_date_status: forecast_unconfirmed

内容を開く

year: 7.655030801
想定日: 2034-07-03
金額: 0.618601693
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2034-06-01
ex_date_status: forecast_unconfirmed

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: -0.006111
arpu_mix_assumed: 0.010667
gbp_fx_translation_assumed: -0.004444
ma_contribution_assumed: 0

full_year_revenue_oku

21.975194

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.618839
rd_expense_oku: 3.882284
sbc_expense_oku: 0.544496
acquired_intangibles_amortization_oku: 0.427051
other_sga_expense_oku: 11.717906

full_year_parent_net_income_oku

2.109011

full_year_fcf_before_distributions_and_ma_oku

2.829294

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

22.163065

revenue_segment_oku

North_America: 10.197226
UKIA: 6.479594
Europe: 5.486245

software_subscription_oku

18.528323

other_recurring_oku

2.194143

non_recurring_oku

1.440599

cloud_native_component_oku

7.73491

cost_of_sales_oku

1.625291

sga_oku

16.701101

of_which_rd_expensed_oku

3.908087

of_which_sbc_expensed_oku

0.551614

of_which_acquired_intangibles_amortization_oku

0.422576

other_sga_ex_rd_sbc_amort_oku

11.818824

statutory_operating_profit_oku

3.836673

finance_income_oku

0.197903

finance_costs_oku

1.0816

income_tax_oku

0.797303

parent_profit_after_sbc_oku

2.155672

depreciation_amortization_noncash_addback_oku

0.775707

sbc_noncash_addback_fcf_only_oku

0.551614

capex_total_cash_oku

0.598403

of_which_capitalised_software_oku

0.251329

working_capital_reinvestment_oku

0.002818

acquisition_cash_spend_oku

0.155141

fcf_pre_ma_and_payout_oku

2.881773

fcf_after_ma_before_payout_oku

2.726631

sbc_net_credit_to_equity_oku

0.52955

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: 971110511
自己株式数: 1130613
ebt_shares: 0
economic_outstanding_shares: 969979898
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.928481710659
親会社持分（億）: 12.577503
net_debt_oku: 7.606497
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 13.193503
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.183217

closing

内容を開く

発行済株式数: 977160777
自己株式数: 0
ebt_shares: 0
economic_outstanding_shares: 977160777
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.921658560391
親会社持分（億）: 13.39828
net_debt_oku: 6.744311
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.055689
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.284059

capital_bridge_oku

内容を開く

opening_parent_equity: 12.577503
profit_post_sbc: 2.155672
sbc_equity_credit: 0.52955
dividends_recognised_in_equity: 1.864445
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 13.39828
rounding_free_bridge_error_oku: -0

net_debt_bridge_oku

内容を開く

opening_net_debt: 7.606497
pre_ma_fcf_reduces_net_debt: 2.881773
ma_cash_outlays: 0.155141
paid_dividends: 1.864445
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 6.744311
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 971110511
opening_treasury: 1130613
opening_ebt: 0
opening_economic_outstanding: 969979898
employee_awards_delivered_shares: 7180879
employee_newly_issued_shares: 6050266
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 977160777
closing_treasury: 0
closing_ebt: 0
closing_economic_outstanding: 977160777
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.864445

gross_paid_dividends_oku

1.864445

gross_buybacks_oku

old_holder_dividend_cash_oku

1.728944

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.728944

gross_dividend_pence_full_year_forecast

19.198

gross_buyback_budget_oku

shares_event_count

events

内容を開く

event_type: div_ex
想定日: 2035-01-04
time_since_base_years: 8.161533196
状態: explicit_forecast_assumption
shares_before: 969979898
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.124524
company_dividend_declared_oku: 1.207861
old_holder_entitlement_oku: 1.121477
shares_after: 969979898
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.928481710659
parent_equity_after_oku: 11.391712
net_debt_after_oku: 7.584086
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: 969979898
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.207861
old_holder_cash_received_oku: 1.121477
shares_after: 969979898
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.928481710659
parent_equity_after_oku: 11.678626
net_debt_after_oku: 8.500609
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: 969979898
old_holder_shares_before: 900608595
issued_new_employee_shares: 2316209
released_from_treasury: 1130613
released_from_ebt: 0
employee_awards_delivered: 3446822
shares_after: 973426720
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.92519403515
parent_equity_after_oku: 12.017038
net_debt_after_oku: 8.156979

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: 973426720
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.8934
shares_after: 973426720
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.92519403515
parent_equity_after_oku: 12.355449
net_debt_after_oku: 7.813349

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: 973426720
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.067451
company_dividend_declared_oku: 0.656583
old_holder_entitlement_oku: 0.607467
shares_after: 973426720
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.92519403515
parent_equity_after_oku: 11.868072
net_debt_after_oku: 7.641534
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: 973426720
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.656583
old_holder_cash_received_oku: 0.607467
shares_after: 973426720
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.92519403515
parent_equity_after_oku: 12.059348
net_debt_after_oku: 8.103891
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: 973426720
old_holder_shares_before: 900608595
issued_new_employee_shares: 3734057
released_from_treasury: 0
released_from_ebt: 0
employee_awards_delivered: 3734057
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.699387
net_debt_after_oku: 7.453982

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: 977160777
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.8065
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.934804
net_debt_after_oku: 7.214935

timed_holder_cashflows_this_period

内容を開く

year: 8.268309377
想定日: 2035-02-12
金額: 1.121477285
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-01-04
ex_date_status: forecast_unconfirmed

内容を開く

year: 8.654346338
想定日: 2035-07-03
金額: 0.607466863
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2035-06-07
ex_date_status: forecast_unconfirmed

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: -0.000556
arpu_mix_assumed: 0.011333
gbp_fx_translation_assumed: -0.002222
ma_contribution_assumed: 0

full_year_revenue_oku

22.163065

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.625291
rd_expense_oku: 3.908087
sbc_expense_oku: 0.551614
acquired_intangibles_amortization_oku: 0.422576
other_sga_expense_oku: 11.818824

full_year_parent_net_income_oku

2.155672

full_year_fcf_before_distributions_and_ma_oku

2.881773

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

19.092245

revenue_segment_oku

North_America: 8.801525
UKIA: 5.582572
Europe: 4.708148

software_subscription_oku

15.942025

other_recurring_oku

1.832856

non_recurring_oku

1.317365

cloud_native_component_oku

6.586825

cost_of_sales_oku

1.393734

sga_oku

14.376461

of_which_rd_expensed_oku

3.360235

of_which_sbc_expensed_oku

0.477306

of_which_acquired_intangibles_amortization_oku

0.357025

other_sga_ex_rd_sbc_amort_oku

10.181894

statutory_operating_profit_oku

3.322051

finance_income_oku

0.178576

finance_costs_oku

0.916109

income_tax_oku

0.69782

parent_profit_after_sbc_oku

1.886698

depreciation_amortization_noncash_addback_oku

0.668229

sbc_noncash_addback_fcf_only_oku

0.477306

capex_total_cash_oku

0.515491

of_which_capitalised_software_oku

0.216506

working_capital_reinvestment_oku

0.004804

acquisition_cash_spend_oku

0.133646

fcf_pre_ma_and_payout_oku

2.511938

fcf_after_ma_before_payout_oku

2.378293

sbc_net_credit_to_equity_oku

0.458214

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: 977160777
自己株式数: 0
ebt_shares: 0
economic_outstanding_shares: 977160777
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.921658560391
親会社持分（億）: 13.39828
net_debt_oku: 6.744311
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.055689
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.284059

closing

内容を開く

発行済株式数: 984377560
自己株式数: 0
ebt_shares: 0
economic_outstanding_shares: 984377560
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.914901590199
親会社持分（億）: 13.898759
net_debt_oku: 6.210451
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.589549
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.370929

capital_bridge_oku

内容を開く

opening_parent_equity: 13.39828
profit_post_sbc: 1.886698
sbc_equity_credit: 0.458214
dividends_recognised_in_equity: 1.844433
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 13.898759
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 6.744311
pre_ma_fcf_reduces_net_debt: 2.511938
ma_cash_outlays: 0.133646
paid_dividends: 1.844433
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 6.210451
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 977160777
opening_treasury: 0
opening_ebt: 0
opening_economic_outstanding: 977160777
employee_awards_delivered_shares: 7216783
employee_newly_issued_shares: 7216783
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 984377560
closing_treasury: 0
closing_ebt: 0
closing_economic_outstanding: 984377560
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.844433

gross_paid_dividends_oku

1.844433

gross_buybacks_oku

old_holder_dividend_cash_oku

1.697823

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.697823

gross_dividend_pence_full_year_forecast

18.852

gross_buyback_budget_oku

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: 977160777
old_holder_shares_before: 900608595
dividend_type: final
dividend_gbp_per_share: 0.122283
company_dividend_declared_oku: 1.194901
old_holder_entitlement_oku: 1.101291
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.218508
net_debt_after_oku: 6.728967
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: 977160777
old_holder_shares_before: 900608595
dividend_type: final
company_dividend_paid_oku: 1.194901
old_holder_cash_received_oku: 1.101291
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.513513
net_debt_after_oku: 7.624663
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: 977160777
old_holder_shares_before: 900608595
issued_new_employee_shares: 3464056
released_from_treasury: 0
released_from_ebt: 0
employee_awards_delivered: 3464056
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.88416
net_debt_after_oku: 7.248739

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: 980624833
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.705
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 13.224551
net_debt_after_oku: 6.903503

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: 980624833
old_holder_shares_before: 900608595
dividend_type: interim
dividend_gbp_per_share: 0.066237
company_dividend_declared_oku: 0.649532
old_holder_entitlement_oku: 0.596532
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.733867
net_debt_after_oku: 6.742393
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: 980624833
old_holder_shares_before: 900608595
dividend_type: interim
company_dividend_paid_oku: 0.649532
old_holder_cash_received_oku: 0.596532
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.945666
net_debt_after_oku: 7.177112
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: 980624833
old_holder_shares_before: 900608595
issued_new_employee_shares: 3752727
released_from_treasury: 0
released_from_ebt: 0
employee_awards_delivered: 3752727
shares_after: 984377560
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.914901590199
parent_equity_after_oku: 13.618882
net_debt_after_oku: 6.494312

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: 984377560
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.6198
shares_after: 984377560
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.914901590199
parent_equity_after_oku: 13.845809
net_debt_after_oku: 6.264155

timed_holder_cashflows_this_period

内容を開く

year: 9.264887064
想定日: 2036-02-11
金額: 1.101290694
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 9.656399726
想定日: 2036-07-03
金額: 0.596532459
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

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: 0.005
arpu_mix_assumed: 0.012
gbp_fx_translation_assumed: 0
ma_contribution_assumed: 0

full_year_revenue_oku

22.541167

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.645505
rd_expense_oku: 3.967245
sbc_expense_oku: 0.563529
acquired_intangibles_amortization_oku: 0.42152
other_sga_expense_oku: 12.021204

full_year_parent_net_income_oku

2.227521

full_year_fcf_before_distributions_and_ma_oku

2.965708

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

0.010379

finance_costs_oku

0.165944

income_tax_oku

0.210854

parent_profit_after_sbc_oku

0.570086

depreciation_amortization_noncash_addback_oku

0.150356

sbc_noncash_addback_fcf_only_oku

0.085059

capex_total_cash_oku

0.115989

of_which_capitalised_software_oku

0.048715

working_capital_reinvestment_oku

0.006137

acquisition_cash_spend_oku

0.030071

fcf_pre_ma_and_payout_oku

0.683374

fcf_after_ma_before_payout_oku

0.653303

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）: 4.916742
net_debt_oku: 15.636697
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 5.163303
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 23.332046

capital_bridge_oku

内容を開く

opening_parent_equity: 4.265
profit_post_sbc: 0.570086
sbc_equity_credit: 0.081656
dividends_recognised_in_equity: 0
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 4.916742
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: 0.683374
ma_cash_outlays: 0.030071
paid_dividends: 0
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 15.636697
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: 4.718892
net_debt_after_oku: 15.835021

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

3.715737

full_year_fcf_before_distributions_and_ma_oku

4.454137

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

19.092245

revenue_segment_oku

North_America: 8.801525
UKIA: 5.582572
Europe: 4.708148

software_subscription_oku

15.942025

other_recurring_oku

1.832856

non_recurring_oku

1.317365

cloud_native_component_oku

6.586825

cost_of_sales_oku

1.393734

sga_oku

14.376461

of_which_rd_expensed_oku

3.360235

of_which_sbc_expensed_oku

0.477306

of_which_acquired_intangibles_amortization_oku

0.357025

other_sga_ex_rd_sbc_amort_oku

10.181894

statutory_operating_profit_oku

3.322051

finance_income_oku

0.178576

finance_costs_oku

0.916109

income_tax_oku

0.69782

parent_profit_after_sbc_oku

1.886698

depreciation_amortization_noncash_addback_oku

0.668229

sbc_noncash_addback_fcf_only_oku

0.477306

capex_total_cash_oku

0.515491

of_which_capitalised_software_oku

0.216506

working_capital_reinvestment_oku

0.004804

acquisition_cash_spend_oku

0.133646

fcf_pre_ma_and_payout_oku

2.511938

fcf_after_ma_before_payout_oku

2.378293

sbc_net_credit_to_equity_oku

0.458214

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: 977160777
自己株式数: 0
ebt_shares: 0
economic_outstanding_shares: 977160777
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.921658560391
親会社持分（億）: 13.39828
net_debt_oku: 6.744311
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.055689
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.284059

closing

内容を開く

発行済株式数: 984377560
自己株式数: 0
ebt_shares: 0
economic_outstanding_shares: 984377560
old_holder_remaining_shares: 900608595
old_holder_ownership_fraction: 0.914901590199
親会社持分（億）: 13.898759
net_debt_oku: 6.210451
estimated_gross_borrowings_oku: 20.8
estimated_cash_oku: 14.589549
dividend_payable_oku: 0
goodwill_carrying_proxy_oku: 24.370929

capital_bridge_oku

内容を開く

opening_parent_equity: 13.39828
profit_post_sbc: 1.886698
sbc_equity_credit: 0.458214
dividends_recognised_in_equity: 1.844433
repurchases_deducted_from_equity: 0
cash_equity_issue_to_external: 0
closing_parent_equity: 13.898759
rounding_free_bridge_error_oku: 0

net_debt_bridge_oku

内容を開く

opening_net_debt: 6.744311
pre_ma_fcf_reduces_net_debt: 2.511938
ma_cash_outlays: 0.133646
paid_dividends: 1.844433
paid_repurchases: 0
third_party_equity_cash_receipts: 0
closing_net_debt: 6.210451
rounding_free_bridge_error_oku: 0

share_bridge

内容を開く

opening_issued: 977160777
opening_treasury: 0
opening_ebt: 0
opening_economic_outstanding: 977160777
employee_awards_delivered_shares: 7216783
employee_newly_issued_shares: 7216783
new_issue_to_third_parties_shares: 0
old_holder_shares_tendered: 0
closing_issued: 984377560
closing_treasury: 0
closing_ebt: 0
closing_economic_outstanding: 984377560
closing_old_holder_remaining_shares: 900608595

gross_declared_dividends_oku

1.844433

gross_paid_dividends_oku

1.844433

gross_buybacks_oku

old_holder_dividend_cash_oku

1.697823

old_holder_tender_cash_oku

old_holder_cashflow_total_oku

1.697823

gross_dividend_pence_full_year_forecast

18.852

gross_buyback_budget_oku

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: 977160777
old_holder_shares_before: 900608595
dividend_type: final
ex_date: 2036-01-03
dividend_gbp_per_share: 0.122283
company_dividend_declared_oku: 1.194901
old_holder_entitlement_oku: 1.101291
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.218508
net_debt_after_oku: 6.728967
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: 977160777
old_holder_shares_before: 900608595
dividend_type: final
ex_date: 2036-01-03
company_dividend_paid_oku: 1.194901
old_holder_cash_received_oku: 1.101291
shares_after: 977160777
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.921658560391
parent_equity_after_oku: 12.513513
net_debt_after_oku: 7.624663
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: 977160777
old_holder_shares_before: 900608595
issued_new_employee_shares: 3464056
released_from_treasury: 0
released_from_ebt: 0
employee_awards_delivered: 3464056
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.88416
net_debt_after_oku: 7.248739

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: 980624833
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.705
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 13.224551
net_debt_after_oku: 6.903503

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: 980624833
old_holder_shares_before: 900608595
dividend_type: interim
ex_date: 2036-06-05
dividend_gbp_per_share: 0.066237
company_dividend_declared_oku: 0.649532
old_holder_entitlement_oku: 0.596532
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.733867
net_debt_after_oku: 6.742393
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: 980624833
old_holder_shares_before: 900608595
dividend_type: interim
ex_date: 2036-06-05
company_dividend_paid_oku: 0.649532
old_holder_cash_received_oku: 0.596532
shares_after: 980624833
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.918402802675
parent_equity_after_oku: 12.945666
net_debt_after_oku: 7.177112
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: 980624833
old_holder_shares_before: 900608595
issued_new_employee_shares: 3752727
released_from_treasury: 0
released_from_ebt: 0
employee_awards_delivered: 3752727
shares_after: 984377560
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.914901590199
parent_equity_after_oku: 13.618882
net_debt_after_oku: 6.494312

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: 984377560
old_holder_shares_before: 900608595
shares_repurchased: 0
cancelled_shares: 0
into_treasury_shares: 0
old_holder_shares_tendered: 0
old_holder_cash_oku: 0
execution_price_gbp_assumed: 9.6198
shares_after: 984377560
old_holder_shares_after: 900608595
old_holder_equity_fraction_after: 0.914901590199
parent_equity_after_oku: 13.845809
net_debt_after_oku: 6.264155

timed_holder_cashflows_this_period

内容を開く

year: 9.264887064
想定日: 2036-02-11
金額: 1.101290694
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-01-03
ex_date_status: forecast_unconfirmed

内容を開く

year: 9.656399726
想定日: 2036-07-03
金額: 0.596532459
date_status: forecast_unconfirmed
cashflow_type: dividend
ex_date: 2036-06-05
ex_date_status: forecast_unconfirmed

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: 0.005
arpu_mix_assumed: 0.012
gbp_fx_translation_assumed: 0
ma_contribution_assumed: 0

full_year_revenue_oku

22.541167

full_year_operating_expenses_oku

内容を開く

cogs_oku: 1.645505
rd_expense_oku: 3.967245
sbc_expense_oku: 0.563529
acquired_intangibles_amortization_oku: 0.42152
other_sga_expense_oku: 12.021204

full_year_parent_net_income_oku

2.227521

full_year_fcf_before_distributions_and_ma_oku

2.965708

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: 900608595
company_economic_outstanding_shares_at_horizon: 984377560
holder_fraction_terminal: 0.914901590199
gross_company_dividends_oku: 19.288407
gross_company_buybacks_oku: 0
old_holder_dividends_received_oku: 18.449375
old_holder_tender_receipts_oku: 0
old_holder_tendered_shares: 0
noncash_award_shares_delivered_to_employees: 71739409
new_shares_issued_to_third_parties: 12029556
cash_receipts_exclude_sbc_and_external_issuance: はい

期間内株主受取

18.449375

終価

22.721639747

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

2.227521

forward_2037_revenue_reference_oku

22.925719

forward_2037_parent_ifrs_profit_reference_oku

2.298948

next_12_month_parent_profit_oku

2.287056

long_run_nominal_profit_growth_g

0.01

incremental_return_on_reinvested_equity_assumed

0.125

required_reinvestment_fraction

0.08

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

1.986805138

perpetuity_value_pre_debt_repair_oku

24.83506422

one_time_leverage_repair_oku

company_intrinsic_equity_value_terminal_oku

24.83506422

old_holder_fraction_terminal

0.914901590199

old_holder_terminal_equity_value_oku

22.721639747

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

7216783

awards_delivered_before_horizon_shares

7216783

awards_detail

内容を開く

想定日: 2036-03-31
状態: forecast
delivered_shares: 3464056
new_employee_issued_shares: 3464056
released_treasury_shares: 0
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3464056
assumed_market_price_gbp_per_share: 9.727978
required_market_purchase_cash_oku: 0.336982604

内容を開く

想定日: 2036-09-30
状態: forecast
delivered_shares: 3752727
new_employee_issued_shares: 3752727
released_treasury_shares: 0
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3752727
assumed_market_price_gbp_per_share: 9.634929
required_market_purchase_cash_oku: 0.36157259

hypothetical_market_repurchase_shares_to_neutralise_2036_awards

7216783

weighted_market_purchase_price_gbp_per_share

9.679593

hypothetical_gross_repurchase_cash_needed_oku

0.698555194

full_calendar_2036_ifrs_sbc_expense_oku

0.563529

hypothetical_cost_minus_2036_full_year_sbc_expense_oku

0.135026194

company_discretionary_buybacks_already_in_2036_period_shares

company_discretionary_buybacks_already_in_2036_period_cash_oku

company_net_repurchase_shares_minus_sbc_awards_2036

-7216783

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

2.287056

sbc_noncash_from_2036_tail_oku

0.086223016

sbc_noncash_from_2037_part_oku

0.48520871

sbc_noncash_addback_once_oku

0.571431727

required_growth_reinvestment_deduction_oku

0.18296448

fcfe_before_sbc_share_replenishment_oku

2.675523247

annual_2037_employee_shares_expected_to_vest

7252867

full_neutrality_market_shares_to_rebuy

7252867

vesting_repurchase_events_assumed

内容を開く

vesting_date_assumed: 2037-03-31
状態: forecast
employee_delivery_shares_assumed: 3481376
shares_to_rebuy_for_full_neutrality: 3481376
market_repurchase_price_gbp_assumed: 9.543271678
cash_repurchase_required_oku: 0.33223717

内容を開く

vesting_date_assumed: 2037-09-30
状態: forecast
employee_delivery_shares_assumed: 3771491
shares_to_rebuy_for_full_neutrality: 3771491
market_repurchase_price_gbp_assumed: 9.451989659
cash_repurchase_required_oku: 0.356480939

weighted_mean_future_market_repurchase_price_gbp

9.495805026

gross_market_purchase_cost_oku

0.688718109

required_additional_cash_above_noncash_sbc_addback_oku

0.117286382

net_new_economic_shares_under_full_neutrality

terminal_economic_outstanding_shares_before_new_awards

984377560

terminal_old_holder_remaining_shares

900608595

terminal_old_holder_fraction

0.914901590199

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

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.688718109
cash_cost_minus_sbc_noncash_addback_oku: 0.117286382
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 1.986805138
pre_leverage_repair_intrinsic_company_equity_value_oku: 24.83506422
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 24.83506422
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 22.721639747
pv_old_holder_terminal_oku: 9.596733978
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.22359531
implied_irr_using_identical_prehorizon_cashflows: -0.108140908944

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.571431718
cash_cost_minus_sbc_noncash_addback_oku: -9.0E-9
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 6017728
net_future_award_shares_unneutralised: 1235139
recurring_future_share_dilution_fraction_per_year: 0.001254741118
perpetuity_denominator: 0.081367667818
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: 2.104091529
pre_leverage_repair_intrinsic_company_equity_value_oku: 25.859061532
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 25.859061532
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 23.658496517
pv_old_holder_terminal_oku: 9.992425719
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.619287051
implied_irr_using_identical_prehorizon_cashflows: -0.105284089245

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0
cash_cost_minus_sbc_noncash_addback_oku: -0.571431727
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 0
net_future_award_shares_unneutralised: 7252867
recurring_future_share_dilution_fraction_per_year: 0.007367972712
perpetuity_denominator: 0.088031090256
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: 2.675523247
pre_leverage_repair_intrinsic_company_equity_value_oku: 30.392935484
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 30.392935484
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 27.806545005
pv_old_holder_terminal_oku: 11.744399534
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 24.371260866
implied_irr_using_identical_prehorizon_cashflows: -0.093588650767

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.550974487
cash_cost_minus_sbc_noncash_addback_oku: -0.020457239
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 2.124548759
pre_leverage_repair_intrinsic_company_equity_value_oku: 26.556859493
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 26.556859493
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 24.296912981
pv_old_holder_terminal_oku: 10.262067921
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.888929253
implied_irr_using_identical_prehorizon_cashflows: -0.103386363491

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.826461731
cash_cost_minus_sbc_noncash_addback_oku: 0.255030004
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 1.849061516
pre_leverage_repair_intrinsic_company_equity_value_oku: 23.113268947
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 23.113268947
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 21.146366514
pv_old_holder_terminal_oku: 8.931400035
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 21.558261367
implied_irr_using_identical_prehorizon_cashflows: -0.113152498357

old_terminal_value_before_correction_oku

24.062956

company_terminal_value_before_correction_oku

26.301141

old_terminal_value_change_oku

-1.341316253

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: 12.626861
pv_old_holder_terminal_oku: 9.596734
pv_total_oku: 22.223595
initial_old_holder_market_cap_oku: 104.920901
pv_vs_purchase_oku: -82.697306
pv_to_price_ratio: 0.21181285
implied_old_holder_irr: -0.1081409089

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: 22.721639747
pv_total_oku: 22.22359531
holder_irr: -0.108140908944
new_dilutive_shares_per_year: 0

limited_budget_and_dilution

内容を開く

old_holder_terminal_oku: 23.658496517
pv_total_oku: 22.619287051
holder_irr: -0.105284089245
new_dilutive_shares_per_year: 1235139

no_market_repurchase_and_dilution

内容を開く

old_holder_terminal_oku: 27.806545005
pv_total_oku: 24.371260866
holder_irr: -0.093588650767
new_dilutive_shares_per_year: 7252867

market_repurchase_price_20pct_below_assumption

内容を開く

old_holder_terminal_oku: 24.296912981
pv_total_oku: 22.888929253
holder_irr: -0.103386363491
new_dilutive_shares_per_year: 0

market_repurchase_price_20pct_above_assumption

内容を開く

old_holder_terminal_oku: 21.146366514
pv_total_oku: 21.558261367
holder_irr: -0.113152498357
new_dilutive_shares_per_year: 0

売上高

22.541167

営業利益

3.922164

純利益

2.227521

equity_oku

13.898759

期間内の親会社利益合計（億）

22.175556

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

2.227521

forward_2037_revenue_reference_oku

22.925719

forward_2037_parent_ifrs_profit_reference_oku

2.298948

next_12_month_parent_profit_oku

2.287056

long_run_nominal_profit_growth_g

0.01

incremental_return_on_reinvested_equity_assumed

0.125

required_reinvestment_fraction

0.08

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

1.986805138

perpetuity_value_pre_debt_repair_oku

24.83506422

one_time_leverage_repair_oku

company_intrinsic_equity_value_terminal_oku

24.83506422

old_holder_fraction_terminal

0.914901590199

old_holder_terminal_equity_value_oku

22.721639747

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

7216783

awards_delivered_before_horizon_shares

7216783

awards_detail

内容を開く

想定日: 2036-03-31
状態: forecast
delivered_shares: 3464056
new_employee_issued_shares: 3464056
released_treasury_shares: 0
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3464056
assumed_market_price_gbp_per_share: 9.727978
required_market_purchase_cash_oku: 0.336982604

内容を開く

想定日: 2036-09-30
状態: forecast
delivered_shares: 3752727
new_employee_issued_shares: 3752727
released_treasury_shares: 0
released_ebt_shares: 0
required_market_repurchase_shares_for_neutrality: 3752727
assumed_market_price_gbp_per_share: 9.634929
required_market_purchase_cash_oku: 0.36157259

hypothetical_market_repurchase_shares_to_neutralise_2036_awards

7216783

weighted_market_purchase_price_gbp_per_share

9.679593

hypothetical_gross_repurchase_cash_needed_oku

0.698555194

full_calendar_2036_ifrs_sbc_expense_oku

0.563529

hypothetical_cost_minus_2036_full_year_sbc_expense_oku

0.135026194

company_discretionary_buybacks_already_in_2036_period_shares

company_discretionary_buybacks_already_in_2036_period_cash_oku

company_net_repurchase_shares_minus_sbc_awards_2036

-7216783

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

2.287056

sbc_noncash_from_2036_tail_oku

0.086223016

sbc_noncash_from_2037_part_oku

0.48520871

sbc_noncash_addback_once_oku

0.571431727

required_growth_reinvestment_deduction_oku

0.18296448

fcfe_before_sbc_share_replenishment_oku

2.675523247

annual_2037_employee_shares_expected_to_vest

7252867

full_neutrality_market_shares_to_rebuy

7252867

vesting_repurchase_events_assumed

内容を開く

vesting_date_assumed: 2037-03-31
状態: forecast
employee_delivery_shares_assumed: 3481376
shares_to_rebuy_for_full_neutrality: 3481376
market_repurchase_price_gbp_assumed: 9.543271678
cash_repurchase_required_oku: 0.33223717

内容を開く

vesting_date_assumed: 2037-09-30
状態: forecast
employee_delivery_shares_assumed: 3771491
shares_to_rebuy_for_full_neutrality: 3771491
market_repurchase_price_gbp_assumed: 9.451989659
cash_repurchase_required_oku: 0.356480939

weighted_mean_future_market_repurchase_price_gbp

9.495805026

gross_market_purchase_cost_oku

0.688718109

required_additional_cash_above_noncash_sbc_addback_oku

0.117286382

net_new_economic_shares_under_full_neutrality

terminal_economic_outstanding_shares_before_new_awards

984377560

terminal_old_holder_remaining_shares

900608595

terminal_old_holder_fraction

0.914901590199

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.688718109
cash_cost_minus_sbc_noncash_addback_oku: 0.117286382
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 1.986805138
pre_leverage_repair_intrinsic_company_equity_value_oku: 24.83506422
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 24.83506422
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 22.721639747
pv_old_holder_terminal_oku: 9.596733978
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.22359531
implied_irr_using_identical_prehorizon_cashflows: -0.108140908944

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.571431718
cash_cost_minus_sbc_noncash_addback_oku: -9.0E-9
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 6017728
net_future_award_shares_unneutralised: 1235139
recurring_future_share_dilution_fraction_per_year: 0.001254741118
perpetuity_denominator: 0.081367667818
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: 2.104091529
pre_leverage_repair_intrinsic_company_equity_value_oku: 25.859061532
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 25.859061532
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 23.658496517
pv_old_holder_terminal_oku: 9.992425719
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.619287051
implied_irr_using_identical_prehorizon_cashflows: -0.105284089245

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0
cash_cost_minus_sbc_noncash_addback_oku: -0.571431727
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 0
net_future_award_shares_unneutralised: 7252867
recurring_future_share_dilution_fraction_per_year: 0.007367972712
perpetuity_denominator: 0.088031090256
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: 2.675523247
pre_leverage_repair_intrinsic_company_equity_value_oku: 30.392935484
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 30.392935484
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 27.806545005
pv_old_holder_terminal_oku: 11.744399534
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 24.371260866
implied_irr_using_identical_prehorizon_cashflows: -0.093588650767

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.550974487
cash_cost_minus_sbc_noncash_addback_oku: -0.020457239
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 2.124548759
pre_leverage_repair_intrinsic_company_equity_value_oku: 26.556859493
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 26.556859493
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 24.296912981
pv_old_holder_terminal_oku: 10.262067921
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 22.888929253
implied_irr_using_identical_prehorizon_cashflows: -0.103386363491

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: 0.571431727
forward_cash_spent_on_award_market_repurchase_oku: 0.826461731
cash_cost_minus_sbc_noncash_addback_oku: 0.255030004
forward_awards_shares: 7252867
market_shares_rebought_for_awards: 7252867
net_future_award_shares_unneutralised: 0
recurring_future_share_dilution_fraction_per_year: 0
perpetuity_denominator: 0.08
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: 1.849061516
pre_leverage_repair_intrinsic_company_equity_value_oku: 23.113268947
one_time_leverage_repair_oku: 0
company_intrinsic_equity_value_as_of_terminal_oku: 23.113268947
old_holder_share_fraction_at_2036_11_06: 0.914901590199
old_holder_terminal_remaining_equity_value_oku: 21.146366514
pv_old_holder_terminal_oku: 8.931400035
pv_all_10year_existing_holder_cashflows_oku: 12.626861332
pv_total_oku: 21.558261367
implied_irr_using_identical_prehorizon_cashflows: -0.113152498357

old_terminal_value_before_correction_oku

24.062956

company_terminal_value_before_correction_oku

26.301141

old_terminal_value_change_oku

-1.341316253

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

不確実性

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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

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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

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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

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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

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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

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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

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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。

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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

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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

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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

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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

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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

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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

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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

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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

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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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