AI 銘柄分析 · 10年
Diploma PLC
DPLM · GBP · 分析基準日 2026-11-06
Diploma：部品流通と買収投資の10年評価
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
既存事業の成長と買収投資、従業員信託を5ケースで評価。基準日の信託保有株数と財務は代理値で、配当・買収・成長は予測です。
要約の補足
- overview_jp
Controlsは航空・防衛・データセンター等で高い収益性。Sealsは産業設備/建機サイクル、Life Sciencesは診断機器・消耗品。好調な調整後利益をIFRS親会社利益と混同せず、買収無形資産償却と株式報酬を残す。
- market_exposure
米国・英国・欧州・豪州等。為替換算、通商政策、半導体/データセンター設備投資、航空・防衛投資に敏感。
- cutoff_data_warning
FY26 full-year results, including 2026-09-30 balance sheet, have not yet been disclosed as of Nov 6. Estimated bridge is scenario input, not a reported fact.
- price_warning
dated 6 Nov close 6990 GBp cross checked by independent secondary quote vendors, official LSE date-stamped OHLC row not successfully retrieved.
- growth_and_val_warning
高い調整後利益率は買収償却・価格負担を反映しない。終価は前方NI+非現金SBCと必要再投資・旧株主持分・希薄化から構成。
- investment_style
valuation and capital preservation research; not trading advice
結論の補足
- risk_assessed
産業用品の買収による高品質複利成長だが株価の成長期待は大きい
- expected_prob_weighted_dated_xirr
- 0.04399385033
- central_cost_of_equity
- 0.092
- expected_PV_per_starting_share_gbp
- 45.836858
- reference_price_gbp
- 69.9
- fair_value_discount_or_premium_to_market
- -0.344250957
- expected_terminal_old_holder_mcap_oku
- 128.83522934
- expected_preterminal_old_holder_payout_oku
- 12.60867303
- interpretation
expected fair value from dated payout plus residual old cohort terminal equity, not market P/E or P/B normalization
事業
- model
技術力・在庫・仕様適合・短納期等の付加価値を伴う特殊部品流通と小規模製造/サービス。分散型子会社を継続的に買収。
- motors
内容を開く
- 1
Aerospace/defence interconnect demand
- 2
Data centres, energy electrification and critical wiring
- 3
Medical diagnostics, medtech consumables
- 4
Hercules Seals aftermarket and industrial OEM
- 5
Decentralized acquisition integration with pricing/tariff pass through
- volume_vs_price
内容を開く
- FY2025_organic_growth
- 0.11
- FY2025_characterization
primary report says volume-led across all three sectors
- FY2026_H1_organic_growth
- 0.15
- FY2026_H1_Controls_organic_growth
- 0.26
- FY2026_H1_Seals_organic_growth
- 0.02
- FY2026_H1_Life_Sciences_organic_growth
- 0.04
- independent_volume_split
- 未確認
- independent_price_split
- 未確認
- 注記
volume and realized price effects not separately numerically provided in reviewed statements; impossible to verify each driver
- M_and_A
内容を開く
- since_2019_deals_at_H1_2026
- 57
- invested_since_2019_gbp_m
- 1600
- recent_LTM_deals_mentioned_at_2026_H1_including_pending
- 15
- recent_LTM_spend_indicated_m
- 310
- average_multiple_approx_EBITDA
- 8
- CDM_completed
2026-06-25
- CDM_defence_US_interconnect
c.80m USD revenue disclosed at H1
- H1_2026_acquisitions_net_cash_gbp_m
- 82.4
- H1_2026_acquired_goodwill_gbp_m
- 34
- H1_2026_acquired_intangibles_gbp_m
- 46.4
- unannounced_acquisitions_after_cutoff
- 未確認
- revenue_recognition
Primarily sales of tangible products under IFRS 15, no speculative SaaS recurring-revenue multiple.
競争力・事業の質
- scoring_scale
qualitative 1-5
- organic_demand_quality
- 4
- pricing_power
- 4
- balance_sheet_quality
- 3
- accounting_clarity
- 3
- capital_allocation
- 4
- principal_risks
内容を開く
- 1
M&A overpayment (goodwill+customer relationships)
- 2
loss of aerospace/defence/AI capex tailwinds
- 3
FX translation across GBP/ USD/ EUR
- 4
Cyclicality in industrial seals and diagnostic procurements
- 5
Debt fixed private placements mature 2031-2036; 2030 RCF renewal
- 6
Trust cash compensation despite noncash IFRS2 P&L expense
- 7
FY26 full year not yet published by 2026-11-06
- nonIFRS_KPIs
内容を開く
- 2026_H1_ROATCE
- 0.227
- 2026_H1_fcf_conversion
- 0.76
- 2025_FY_ROATCE
- 0.209
- 2025_FY_fcf_conversion
- 1.05
- normalized_tax_warning
statutory H1 2026 effective 27.83%, adjusted 25.0%; forecast statutory rates 25.5%-28.5% case assumptions
業界と環境
- sector_mix_at_h1_2026
- controls
- 0.581953
- seals
- 0.264246
- life_sciences
- 0.153801
- defensibility
Application engineering, small bill-of-material share but critical uptime, technical sales, SKU and localized distribution
- headwinds
内容を開く
- 1
Inventory normalization
- 2
Construction/agriculture and UK industrial softness
- 3
Healthcare budget constraint
- 4
Aerospace/defence customer concentration possibly unquantified
- 5
Manufacturing reshoring/tariffs
- 6
Sustainable ROIC after goodwill
- endmarket_concentration_disclosed
- 未確認
- geographical_revenue_FY2025_proforma
内容を開く
- North_America
- 0.53
- Europe
- 0.19
- UK
- 0.18
- Australia_other
- 0.1
財務・資本配分
- reported_FY2025_as_of_2025_09_30
内容を開く
- sales_oku
- 15.245
- adj_op_oku
- 3.427
- ifrs_op_oku
- 2.837
- financial_net_expense_oku
- 0.354
- pbt_oku
- 2.483
- tax_oku
- 0.628
- ni_parent_oku
- 1.849
- sbc_exp_oku
- 0.062
- 親会社持分（億）
- 9.897
- 非支配持分資本（億）
- 0.045
- 現金（億）
- 0.817
- debt_oku
- 3.811
- leases_oku
- 0.838
- goodwill_oku
- 5.635
- acq_intang_oku
- 4.791
- ebt_shares_at_2025_09_30
- 81368
- issued_at_2025_09_30
- 134176207
- ebt_funded_cash_oku
- 0.041
- total_dividend_for_fy2025_pence
- 62.3
- reported_FY2026_H1_as_of_2026_03_31
内容を開く
- sales_oku
- 8.511
- adj_op_oku
- 2.089
- ifrs_op_oku
- 1.651
- financial_net_expense_oku
- 0.257
- pbt_oku
- 1.394
- tax_oku
- 0.388
- ni_parent_oku
- 1.003
- ni_nci_oku
- 0.003
- sbc_exp_oku
- 0.051
- 親会社持分（億）
- 10.522
- 非支配持分資本（億）
- 0.045
- 現金（億）
- 0.687
- debt_oku
- 4.126
- leases_oku
- 0.888
- goodwill_oku
- 6.054
- acq_intang_oku
- 4.992
- acq_related_liabilities_oku
- 0.385
- amort_acq_oku
- 0.324
- basic_weighted_shares
- 134242804
- diluted_weighted_shares
- 134777848
- working_capital_outflow_oku
- 0.589
- capex_oku
- 0.076
- operating_cashflow_after_tax_oku
- 1.11
- dividend_final_paid_oku
- 0.592
- dividend_interim_declared_after_reporting_oku
- 0.257
- reconstruction
内容を開く
- basis_status
FY25 actual audited and H1 FY26 reviewed; FY26 September and November forecast bridge not a published financial statement
- fy2026_fx_drag_to_revenue_assumed
- -0.02
- fy2026_organic_revenue_guidance_actual
- 0.14
- fy2026_announced_acquisition_revenue_guidance_actual
- 0.06
- fy2026_adjusted_operating_margin_guidance
- 0.265
- fy2026_est_sales_oku
- 17.9891
- fy2026_est_adj_operating_profit_oku
- 4.7671115
- fy2026_est_IFRS_operating_profit_oku
- 3.8291115
- fy2026_est_IFRS_parent_net_income_oku
- 2.3776115
- h2_est_oct2025_to_mar2026_status
first half FY26 published
- h2_est_apr2026_to_sep2026
内容を開く
- sales_oku
- 9.4781
- adj_op_oku
- 2.6781115
- IFRS_op_oku
- 2.1781115
- financial_net_expense_oku
- 0.32
- PBT_oku
- 1.8581115
- tax_oku
- 0.48
- parent_net_income_oku
- 1.3746115
- SBC_oku
- 0.055
- parent_Other_OCI_oku
- 0
- IFRS_parent_equity_change_oku
- 1.1531115
- WC_cash_released_oku
- 0.2
- acquisition_cash_oku
- 1.7
- debt_draw_oku
- 0.4
- interim_dividend_cash_oku
- 0.2565
- EBT_funding_oku
- 0.02
- estimated_2026_09_30
内容を開く
- as_of
2026-09-30
- sales_fy26_oku
- 17.9891
- fy26_adjusted_op_oku
- 4.7671115
- fy26_ifrs_operating_profit_oku
- 3.8291115
- fy26_parent_net_income_oku
- 2.3776115
- 親会社持分（億）
- 11.6751115
- 現金（億）
- 1.1801115
- debt_oku
- 4.526
- 非支配持分（億）
- 0.045
- lease_liabilities_oku
- 0.928
- goodwill_oku
- 6.754
- acquired_intangibles_oku
- 5.432
- deferred_acquisition_payable_oku
- 0.5
- issuer_shares
- 134317398
- 自己株式数
- 0
- ebt_shares_proxy
- 75000
- rcf_debt_oku
- 1.204
- pp_debt_oku
- 3.322
- post_fy_to_cutoff_2026_10_01_through_11_06
内容を開く
- days
- 37
- annualization_denominator_days
- 365
- sales_oku
- 1.96943681
- adj_operating_profit_oku
- 0.51205357
- IFRS_operating_profit_oku
- 0.43197664
- net_finance_expense_oku
- 0.042
- PBT_oku
- 0.38997664
- tax_oku
- 0.10529369
- parent_net_income_oku
- 0.28418295
- SBC_non_cash_and_equity_oku
- 0.01181662
- wc_cash_outflow_oku
- 0.11
- cash_delta_oku
- 0.25134728
- no_2026_FY_final_dividend_liability_or_CF_recognized_yet
- はい
- estimated_2026_11_06
内容を開く
- 親会社持分（億）
- 11.97111107
- 非支配持分資本（億）
- 0.0455
- 現金（億）
- 1.43145878
- private_placement_debt_oku
- 3.322
- revolving_credit_debt_oku
- 1.204
- total_interest_bearing_debt_exleases_oku
- 4.526
- lease_liabilities_oku
- 0.929
- net_debt_oku
- 3.09454122
- goodwill_oku
- 6.754
- acquired_intangibles_oku
- 5.36592307
- acquisition_deferred_obligations_oku
- 0.5
- 発行済株式数
- 134317398
- 自己株式数
- 0
- EBT_proxy
- 75000
- old_holder_shares
- 134242398
- cash_debt_conventions
gross debt excludes IFRS16 lease liabilities; lease liabilities shown and principal cash out separately; the reported H1 net debt 343.9m = 412.6m borrowings -68.7m cash.
- private_placement_maturity_schedule_fx_proxy
内容を開く
- 1
- 日付
2031-03-31
- gbp_m_proxy
- 65.5
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 2
- 日付
2032-08-31
- gbp_m_proxy
- 75.9
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 3
- 日付
2034-03-31
- gbp_m_proxy
- 87.4
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 4
- 日付
2035-08-31
- gbp_m_proxy
- 38
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 5
- 日付
2036-03-31
- gbp_m_proxy
- 65.4
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 2026_03_31_undrawn_RCF_m
- 571
- 2026_03_31_RCF_total_m
- 655
- RCF_2030_renewal
forecast necessary for horizon; not a contractual certainty
- goodwill_and_acquired_intangibles_H1_m
- goodwill_m
- 605.4
- acquired_intangibles_m
- 499.2
- total_m
- 1104.6
- sbc_policy
IFRS reported NI includes SBC cost; company FY25 annual states equity-settled expense credited to equity; EBT open-market purchases charged to cash/equity once, and pro-rata old sellers get cash; newly issued shares to EBT at par are intra-group consolidated transfer with zero external proceeds.
- EBT_historical
内容を開く
- 2025_09_30_verified
- 81368
- 2025_11_13_verified
- 222559
- 2026_11_06_unverified
- 未確認
- opening_assumed_inventory
- 75000
- 2025_EBT_cash_funding_gbp_m
- 4.1
- 2026_H1_sbc_gbp_m
- 5.1
- pre_cutoff_dividends
内容を開く
- FY25_final_per_share_gbp
- 0.441
- FY25_final_paid_date
2026-01-30
- FY26_interim_per_share_gbp
- 0.191
- FY26_interim_ex_date
2026-05-28
- FY26_interim_record_date
2026-05-29
- FY26_interim_pay_date
2026-06-12
- 注記
both before cutoff; not in holder CF after Nov 6
- FY26_final_dividend_as_of_cutoff
内容を開く
- amount_per_share
- 未確認
- declared
- いいえ
- announced_date_expected
2026-11-17
- planned_2027_ex_date
2027-01-14
- planned_2027_payment
2027-01-29
- pay_after_AGM_approval
- はい
- recognized_liability_at_2026_11_06
- 0
- cashflow_included_before_2026_11_06
- いいえ
評価の前提と確認
- uses_market_P_E_for_terminal
- いいえ
- uses_market_P_B_for_terminal
- いいえ
- price_input_is_initial_CF_only
- はい
- market_repurchase_price_assumptions_used_only_for_future_share_transactions
- はい
- terminal_formula
(maintainable parent NI 2037 + SBC noncash - MAX(operational/acquisition/replacement reinvestment net of noncash addbacks, normalized g/ROE reinvestment floor))/(case cost of equity - perpetual growth + unfunded future share issuance dilution) + nonoperating excess cash; old cohort = total company equity value x old shares / eligible shares; dividend-available plus EBT seller proceeds reconciled to total FCFE.
- NCI_double_subtract
- いいえ
- interest_bearing_debt_double_subtract
- いいえ
- book_equity_plus_terminal_market_cap_double_count
- いいえ
- sbc_non_cash_addback_once
- はい
- EBT_cash_purchase_expenditure_once
- はい
- funded_ebt_purchase_is_old_holder_cash_at_fair_market_price_and_reduces_old_share_count
- はい
- unfunded_new_shares_dilute_after_vesting
- はい
- terminal_dilution_rate_derived_from_2037_issuance_and_exit_shares
- はい
- one_pre_ex_sale_price_no_extra_post_exit_final_dividend
- はい
資本コストの前提
- 資本コスト
- 9.20%
- currency
GBP
- nominal
- はい
- 方法
build_up_nominal_cost_of_equity_central_assumption_not_market_PE
- case_terminal_k_rates
内容を開く
- severe_downside
- 0.117
- downside
- 0.105
- base
- 0.092
- upside
- 0.087
- exceptional
- 0.084
- scenario_discount_for_pv
- 0.092
事業別データ
- 1
内容を開く
- segment
Controls
- H1_2026_sales_oku
- 4.953
- H1_2026_IFRS_segment_operating_profit_oku
- 1.413
- H1_2026_adj_segment_operating_profit_oku
- 1.657
- H1_2026_organic_growth
- 0.26
- H1_2026_adj_op_margin
- 0.335
- business_drivers
内容を開く
- 1
Clarendon
- 2
Peerless
- 3
Interconnect Solutions Group
- 4
Windy City Wire
- 5
CDM completed June 25
- 6
aerospace/defence/datacentres
- 2
内容を開く
- segment
Seals
- H1_2026_sales_oku
- 2.249
- H1_2026_IFRS_segment_operating_profit_oku
- 0.286
- H1_2026_adj_segment_operating_profit_oku
- 0.425
- H1_2026_organic_growth
- 0.02
- H1_2026_adj_op_margin
- 0.189
- business_drivers
内容を開く
- 1
Hercules OEM and Aftermarket
- 2
North America seals growth
- 3
International UK softness
- 4
fluid power
- 5
infrastructure
- 3
内容を開く
- segment
Life Sciences
- H1_2026_sales_oku
- 1.309
- H1_2026_IFRS_segment_operating_profit_oku
- 0.204
- H1_2026_adj_segment_operating_profit_oku
- 0.259
- H1_2026_organic_growth
- 0.04
- H1_2026_adj_op_margin
- 0.198
- business_drivers
内容を開く
- 1
IVD
- 2
medtech
- 3
consumables
- 4
Nordic/Canadian lab distribution
- 5
healthcare market budgets
- 4
内容を開く
- segment
Unallocated Head Office
- H1_2026_sales_oku
- 0
- H1_2026_IFRS_segment_operating_profit_oku
- -0.252
- H1_2026_adj_segment_operating_profit_oku
- -0.252
- 注記
without negative unallocated group IFRS and adjusted operating profit would be overstated
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 |
|---|---|---|---|
| 極めて強気 | 10.0% | 17.82 | 287.76 |
| 強気 | 20.0% | 14.54 | 188.42 |
| 中立 | 40.0% | 12.29 | 118.08 |
| 弱気 | 20.0% | 10.75 | 59.08 |
| 深刻な下振れ | 10.0% | 8.53 | 33.27 |
単位の説明
- financial_oku
億GBP (1 oku GBP = 100,000,000 GBP = 100 GBP million)
- all_pct_rates
decimal
- 価格・単価
GBP per ordinary share, GBp raw quote separately
- share_count
ordinary shares / pro-rata equivalent old cohort
- year
calendar-day difference divided by 365.25
事業の詳細
- model
技術力・在庫・仕様適合・短納期等の付加価値を伴う特殊部品流通と小規模製造/サービス。分散型子会社を継続的に買収。
- motors
内容を開く
- 1
Aerospace/defence interconnect demand
- 2
Data centres, energy electrification and critical wiring
- 3
Medical diagnostics, medtech consumables
- 4
Hercules Seals aftermarket and industrial OEM
- 5
Decentralized acquisition integration with pricing/tariff pass through
- volume_vs_price
内容を開く
- FY2025_organic_growth
- 0.11
- FY2025_characterization
primary report says volume-led across all three sectors
- FY2026_H1_organic_growth
- 0.15
- FY2026_H1_Controls_organic_growth
- 0.26
- FY2026_H1_Seals_organic_growth
- 0.02
- FY2026_H1_Life_Sciences_organic_growth
- 0.04
- independent_volume_split
- 未確認
- independent_price_split
- 未確認
- 注記
volume and realized price effects not separately numerically provided in reviewed statements; impossible to verify each driver
- M_and_A
内容を開く
- since_2019_deals_at_H1_2026
- 57
- invested_since_2019_gbp_m
- 1600
- recent_LTM_deals_mentioned_at_2026_H1_including_pending
- 15
- recent_LTM_spend_indicated_m
- 310
- average_multiple_approx_EBITDA
- 8
- CDM_completed
2026-06-25
- CDM_defence_US_interconnect
c.80m USD revenue disclosed at H1
- H1_2026_acquisitions_net_cash_gbp_m
- 82.4
- H1_2026_acquired_goodwill_gbp_m
- 34
- H1_2026_acquired_intangibles_gbp_m
- 46.4
- unannounced_acquisitions_after_cutoff
- 未確認
- revenue_recognition
Primarily sales of tangible products under IFRS 15, no speculative SaaS recurring-revenue multiple.
競争力の詳細
- scoring_scale
qualitative 1-5
- organic_demand_quality
- 4
- pricing_power
- 4
- balance_sheet_quality
- 3
- accounting_clarity
- 3
- capital_allocation
- 4
- principal_risks
内容を開く
- 1
M&A overpayment (goodwill+customer relationships)
- 2
loss of aerospace/defence/AI capex tailwinds
- 3
FX translation across GBP/ USD/ EUR
- 4
Cyclicality in industrial seals and diagnostic procurements
- 5
Debt fixed private placements mature 2031-2036; 2030 RCF renewal
- 6
Trust cash compensation despite noncash IFRS2 P&L expense
- 7
FY26 full year not yet published by 2026-11-06
- nonIFRS_KPIs
内容を開く
- 2026_H1_ROATCE
- 0.227
- 2026_H1_fcf_conversion
- 0.76
- 2025_FY_ROATCE
- 0.209
- 2025_FY_fcf_conversion
- 1.05
- normalized_tax_warning
statutory H1 2026 effective 27.83%, adjusted 25.0%; forecast statutory rates 25.5%-28.5% case assumptions
業界の詳細
- sector_mix_at_h1_2026
- controls
- 0.581953
- seals
- 0.264246
- life_sciences
- 0.153801
- defensibility
Application engineering, small bill-of-material share but critical uptime, technical sales, SKU and localized distribution
- headwinds
内容を開く
- 1
Inventory normalization
- 2
Construction/agriculture and UK industrial softness
- 3
Healthcare budget constraint
- 4
Aerospace/defence customer concentration possibly unquantified
- 5
Manufacturing reshoring/tariffs
- 6
Sustainable ROIC after goodwill
- endmarket_concentration_disclosed
- 未確認
- geographical_revenue_FY2025_proforma
内容を開く
- North_America
- 0.53
- Europe
- 0.19
- UK
- 0.18
- Australia_other
- 0.1
財務・資本配分の詳細
- reported_FY2025_as_of_2025_09_30
内容を開く
- sales_oku
- 15.245
- adj_op_oku
- 3.427
- ifrs_op_oku
- 2.837
- financial_net_expense_oku
- 0.354
- pbt_oku
- 2.483
- tax_oku
- 0.628
- ni_parent_oku
- 1.849
- sbc_exp_oku
- 0.062
- 親会社持分（億）
- 9.897
- 非支配持分資本（億）
- 0.045
- 現金（億）
- 0.817
- debt_oku
- 3.811
- leases_oku
- 0.838
- goodwill_oku
- 5.635
- acq_intang_oku
- 4.791
- ebt_shares_at_2025_09_30
- 81368
- issued_at_2025_09_30
- 134176207
- ebt_funded_cash_oku
- 0.041
- total_dividend_for_fy2025_pence
- 62.3
- reported_FY2026_H1_as_of_2026_03_31
内容を開く
- sales_oku
- 8.511
- adj_op_oku
- 2.089
- ifrs_op_oku
- 1.651
- financial_net_expense_oku
- 0.257
- pbt_oku
- 1.394
- tax_oku
- 0.388
- ni_parent_oku
- 1.003
- ni_nci_oku
- 0.003
- sbc_exp_oku
- 0.051
- 親会社持分（億）
- 10.522
- 非支配持分資本（億）
- 0.045
- 現金（億）
- 0.687
- debt_oku
- 4.126
- leases_oku
- 0.888
- goodwill_oku
- 6.054
- acq_intang_oku
- 4.992
- acq_related_liabilities_oku
- 0.385
- amort_acq_oku
- 0.324
- basic_weighted_shares
- 134242804
- diluted_weighted_shares
- 134777848
- working_capital_outflow_oku
- 0.589
- capex_oku
- 0.076
- operating_cashflow_after_tax_oku
- 1.11
- dividend_final_paid_oku
- 0.592
- dividend_interim_declared_after_reporting_oku
- 0.257
- reconstruction
内容を開く
- basis_status
FY25 actual audited and H1 FY26 reviewed; FY26 September and November forecast bridge not a published financial statement
- fy2026_fx_drag_to_revenue_assumed
- -0.02
- fy2026_organic_revenue_guidance_actual
- 0.14
- fy2026_announced_acquisition_revenue_guidance_actual
- 0.06
- fy2026_adjusted_operating_margin_guidance
- 0.265
- fy2026_est_sales_oku
- 17.9891
- fy2026_est_adj_operating_profit_oku
- 4.7671115
- fy2026_est_IFRS_operating_profit_oku
- 3.8291115
- fy2026_est_IFRS_parent_net_income_oku
- 2.3776115
- h2_est_oct2025_to_mar2026_status
first half FY26 published
- h2_est_apr2026_to_sep2026
内容を開く
- sales_oku
- 9.4781
- adj_op_oku
- 2.6781115
- IFRS_op_oku
- 2.1781115
- financial_net_expense_oku
- 0.32
- PBT_oku
- 1.8581115
- tax_oku
- 0.48
- parent_net_income_oku
- 1.3746115
- SBC_oku
- 0.055
- parent_Other_OCI_oku
- 0
- IFRS_parent_equity_change_oku
- 1.1531115
- WC_cash_released_oku
- 0.2
- acquisition_cash_oku
- 1.7
- debt_draw_oku
- 0.4
- interim_dividend_cash_oku
- 0.2565
- EBT_funding_oku
- 0.02
- estimated_2026_09_30
内容を開く
- as_of
2026-09-30
- sales_fy26_oku
- 17.9891
- fy26_adjusted_op_oku
- 4.7671115
- fy26_ifrs_operating_profit_oku
- 3.8291115
- fy26_parent_net_income_oku
- 2.3776115
- 親会社持分（億）
- 11.6751115
- 現金（億）
- 1.1801115
- debt_oku
- 4.526
- 非支配持分（億）
- 0.045
- lease_liabilities_oku
- 0.928
- goodwill_oku
- 6.754
- acquired_intangibles_oku
- 5.432
- deferred_acquisition_payable_oku
- 0.5
- issuer_shares
- 134317398
- 自己株式数
- 0
- ebt_shares_proxy
- 75000
- rcf_debt_oku
- 1.204
- pp_debt_oku
- 3.322
- post_fy_to_cutoff_2026_10_01_through_11_06
内容を開く
- days
- 37
- annualization_denominator_days
- 365
- sales_oku
- 1.96943681
- adj_operating_profit_oku
- 0.51205357
- IFRS_operating_profit_oku
- 0.43197664
- net_finance_expense_oku
- 0.042
- PBT_oku
- 0.38997664
- tax_oku
- 0.10529369
- parent_net_income_oku
- 0.28418295
- SBC_non_cash_and_equity_oku
- 0.01181662
- wc_cash_outflow_oku
- 0.11
- cash_delta_oku
- 0.25134728
- no_2026_FY_final_dividend_liability_or_CF_recognized_yet
- はい
- estimated_2026_11_06
内容を開く
- 親会社持分（億）
- 11.97111107
- 非支配持分資本（億）
- 0.0455
- 現金（億）
- 1.43145878
- private_placement_debt_oku
- 3.322
- revolving_credit_debt_oku
- 1.204
- total_interest_bearing_debt_exleases_oku
- 4.526
- lease_liabilities_oku
- 0.929
- net_debt_oku
- 3.09454122
- goodwill_oku
- 6.754
- acquired_intangibles_oku
- 5.36592307
- acquisition_deferred_obligations_oku
- 0.5
- 発行済株式数
- 134317398
- 自己株式数
- 0
- EBT_proxy
- 75000
- old_holder_shares
- 134242398
- cash_debt_conventions
gross debt excludes IFRS16 lease liabilities; lease liabilities shown and principal cash out separately; the reported H1 net debt 343.9m = 412.6m borrowings -68.7m cash.
- private_placement_maturity_schedule_fx_proxy
内容を開く
- 1
- 日付
2031-03-31
- gbp_m_proxy
- 65.5
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 2
- 日付
2032-08-31
- gbp_m_proxy
- 75.9
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 3
- 日付
2034-03-31
- gbp_m_proxy
- 87.4
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 4
- 日付
2035-08-31
- gbp_m_proxy
- 38
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 5
- 日付
2036-03-31
- gbp_m_proxy
- 65.4
- face_value_currency_and_origination
EUR and USD notes; amount FX-proxied from March 2026 GBP carrying
- 2026_03_31_undrawn_RCF_m
- 571
- 2026_03_31_RCF_total_m
- 655
- RCF_2030_renewal
forecast necessary for horizon; not a contractual certainty
- goodwill_and_acquired_intangibles_H1_m
- goodwill_m
- 605.4
- acquired_intangibles_m
- 499.2
- total_m
- 1104.6
- sbc_policy
IFRS reported NI includes SBC cost; company FY25 annual states equity-settled expense credited to equity; EBT open-market purchases charged to cash/equity once, and pro-rata old sellers get cash; newly issued shares to EBT at par are intra-group consolidated transfer with zero external proceeds.
- EBT_historical
内容を開く
- 2025_09_30_verified
- 81368
- 2025_11_13_verified
- 222559
- 2026_11_06_unverified
- 未確認
- opening_assumed_inventory
- 75000
- 2025_EBT_cash_funding_gbp_m
- 4.1
- 2026_H1_sbc_gbp_m
- 5.1
- pre_cutoff_dividends
内容を開く
- FY25_final_per_share_gbp
- 0.441
- FY25_final_paid_date
2026-01-30
- FY26_interim_per_share_gbp
- 0.191
- FY26_interim_ex_date
2026-05-28
- FY26_interim_record_date
2026-05-29
- FY26_interim_pay_date
2026-06-12
- 注記
both before cutoff; not in holder CF after Nov 6
- FY26_final_dividend_as_of_cutoff
内容を開く
- amount_per_share
- 未確認
- declared
- いいえ
- announced_date_expected
2026-11-17
- planned_2027_ex_date
2027-01-14
- planned_2027_payment
2027-01-29
- pay_after_AGM_approval
- はい
- recognized_liability_at_2026_11_06
- 0
- cashflow_included_before_2026_11_06
- いいえ
評価根拠の詳細
- uses_market_P_E_for_terminal
- いいえ
- uses_market_P_B_for_terminal
- いいえ
- price_input_is_initial_CF_only
- はい
- market_repurchase_price_assumptions_used_only_for_future_share_transactions
- はい
- terminal_formula
(maintainable parent NI 2037 + SBC noncash - MAX(operational/acquisition/replacement reinvestment net of noncash addbacks, normalized g/ROE reinvestment floor))/(case cost of equity - perpetual growth + unfunded future share issuance dilution) + nonoperating excess cash; old cohort = total company equity value x old shares / eligible shares; dividend-available plus EBT seller proceeds reconciled to total FCFE.
- NCI_double_subtract
- いいえ
- interest_bearing_debt_double_subtract
- いいえ
- book_equity_plus_terminal_market_cap_double_count
- いいえ
- sbc_non_cash_addback_once
- はい
- EBT_cash_purchase_expenditure_once
- はい
- funded_ebt_purchase_is_old_holder_cash_at_fair_market_price_and_reduces_old_share_count
- はい
- unfunded_new_shares_dilute_after_vesting
- はい
- terminal_dilution_rate_derived_from_2037_issuance_and_exit_shares
- はい
- one_pre_ex_sale_price_no_extra_post_exit_final_dividend
- はい
不確実性
- 1
- item
2026-11-06 close primary intraday/eod bar
- 状態
unconfirmed_official_timestamp
- fallback
secondary dated FT and StockAnalysis show 6990 GBp; official LSE day row not retrieved
- 2
- item
2026-09-30 FY26 audited accounts not announced until 2026-11-17
- 状態
estimated_bridge_not_actual
- implication
FY26 revenue, cash, debt, parent equity, goodwill are pre-release proxies
- 3
- item
2026-11-06 EBT shares
- 状態
unverified
- fallback
75000 initial; test 0/81368/222559; FY2026 H1 weighted average eligible 134242804 is NOT a point-in-time closing sharecount
- 4
- item
post-Nov-2026 dividends and issuer buybacks
- 状態
forecast_only
- implication
2027 Jan ex and payment dates appear on official calendar but dividend amount still unannounced at cutoff; all cashflow amounts scenario assumptions
- 5
- item
2030 revolving credit facility renewal and 2028 bilateral extension
- 状態
uncontracted_future_refinancing
- implication
interest expense and liquidity assumptions can fail under a stress scenario
- 6
- item
EBT actual vest/market buying vs nominal new issue
- 状態
assumed
- implication
70% secondary purchases, 30% new EBT shares at 5p are modeled proxy; award outcomes depend on schemes, taxes, exercisability
- 7
- item
future M&A targets, goodwill recognition, tax and finance marks
- 状態
scenario_assumption
- implication
the 10-year path is not reported management guidance
- 8
- item
terminal perpetuity ROE and continuing normalized reinvestment
- 状態
model_assumption
- implication
sensitivity to g and k is high, especially for high-multiple stock
分析基準とデータ
- as_of
2026-11-06
- 価格・単価
- 69.9
- price_gbp
- 69.9
- quote_raw_gbp_pence
- 6990
- price_source_tier
secondary_verified_proxy_primary_day_bar_unavailable
- price_cross_validation_sources
- 1
s09
- 2
s10
- 3
s11
- 株数
- 134242398
- shares_unit
ordinary_shares
- shares_kind
old_eligible_external_ordinary_share_cohort_excluding_EBT_proxy
- 発行済株式数
- 134317398
- 自己株式数
- 0
- ebt_shares_proxy
- 75000
- trust_shares_verified_2025_09_30
- 81368
- trust_shares_verified_2025_11_13
- 222559
- trust_shares_exact_at_2026_11_06
- 未確認
- market_cap_on_eligible_cohort_oku
- 93.8354362
- issued_total_quote_value_including_EBT_oku
- 93.8878612
- initial_cfo_baseline_cutoff_balance_is_proxy
- はい
- sharecount_primary_basis
2025-11-13 RNS /2025-11-30 TVR; 2026-10-23 TR1 percentage supports unchanged total; EBT 2026 close undisclosed
- share_count_sensitivity_ebt_inventory
内容を開く
- 1
内容を開く
- initial_eligible_shares
- 134317398
- fair_value_per_share_gbp_at_k_9_2pct
- 45.81275469
- prob_weighted_cashflow_irr
- 0.043934374105
- 注記
other financial drivers identical; EBT opening inventory proxy only
- 81369
内容を開く
- initial_eligible_shares
- 134236030
- fair_value_per_share_gbp_at_k_9_2pct
- 45.83890583
- prob_weighted_cashflow_irr
- 0.043998901839
- 注記
other financial drivers identical; EBT opening inventory proxy only
- 75001
内容を開く
- initial_eligible_shares
- 134242398
- fair_value_per_share_gbp_at_k_9_2pct
- 45.83685808
- prob_weighted_cashflow_irr
- 0.04399385033
- 注記
other financial drivers identical; EBT opening inventory proxy only
- 222560
内容を開く
- initial_eligible_shares
- 134094839
- fair_value_per_share_gbp_at_k_9_2pct
- 45.88435757
- prob_weighted_cashflow_irr
- 0.044110967459
- 注記
other financial drivers identical; EBT opening inventory proxy only
- 株価の出所
London Stock Exchange DPLM 2026-11-06 close 6,990 pence
- 株数の出所
2025-11-30 voting rights 134,317,398, minus 75,000 employee trust proxy; 2026-11-06 exact EBT shares unverified
追加データ・検証記録
分析ごとに収録された追加の前提、年度別データ、検証上の注意を確認できます。
分析に使用した資料
- Diploma plc FY2025 Annual Report and Accounts
- FY2025 annual report full-text archived mirror
- FY2025 Company Preliminary Results (42-page PDF)
- FY2026 Half Year Results (43-page IAS34 reviewed PDF)
- Q3 FY2026 9-month Trading Update
- 2025-11-13 Issue of Shares to EBT and Voting Rights
- 30 November 2025 Total Voting Rights
- Diploma 23 October 2026 TR-1 Capital Group threshold
- Diploma 2026-11-06 historical price
- Diploma 2026-11-06 price cross-check
- LSE DPLM official equity page
- Diploma financial calendar at 2026-11-08 retrieval