EXPGY changes
Pick any two versions below to diff them.
- Price
- $32.65 → $35.48(+8.7%)
- Discount category
- Deep below intrinsic value → Far below intrinsic value
- Balance sheet
- added: Cash: $326M Debt: $5.5B Net debt: $5.2B EBITDA, last 12 months: $3.0B Net debt / EBITDA: 1.7× (low) Interest cover: 11× Undrawn credit line: $2.5B Debt due within 12 months: $572M Last debt due: 2035 Ratings: S&P A- (stable outlook), Moody's A3 (stable outlook) Experian reports in US dollars. Its debt is mostly unsecured bonds that the group issues centrally, removed: not the operating businesses. At March 31, 2026, net debt was $5,179 million. This added: and leverage is removed: 1.7 times Benchmark EBITDA of $3,010 million, below the group's own 2.0 to 2.5 times removed: range. Net added: range, which gives room to fund the new $1 billion buyback and more bolt-on deals and to keep a strong credit rating. At March 31, 2026, debt removed: included added: was $5,028 million of bonds and notes, removed: with $572 million due within one year. It also included $278 million of commercial paper, $90 million of bank loans and $133 million of leases. removed: From this, Experian subtracts $326 added: The reported net debt was $5,179 million. The amount due within one year counts the bonds only. EBITDA is Benchmark EBITDA for the year to March 2026, and interest cover is Benchmark EBIT of $2,397 million added: over interest expense of removed: cash and deposits. added: $219 million. The bonds are in euros, US dollars and pounds, mostly at fixed rates. A 500 million euro bond fell due on June 25, 2026. The next bond is a 300 million euro floating-rate note due March removed: 2028, and other bonds run to 2035. In the year to March 2026, Benchmark EBIT of $2,397 million covered interest expense of $219 million about 11 times. added: 2028. The company expects net interest of $250 to $260 million in fiscal 2027. removed: S&P rates Experian A- and Moody's rates it A3, both with stable outlooks. $2.5 billion of committed bank facilities were undrawn at March 31, 2026. The UK pension plan had a net surplus of $183 million. Goodwill and other intangibles from acquisitions make up most of the $5.6 billion of net assets. removed: The low leverage gives room to fund the new $1 billion buyback and more bolt-on deals, and to keep a strong credit rating. As of Mar 31, 2026.