Numis Corporation (LSE: NUM)

Currency in GBP

Last close As at 25/09/2023

GBP3.37

0.50 (0.15%)

Market capitalisation

GBP370m

Numis is one of the UK’s leading independent investment banking groups, offering a full range of research, execution, equity capital markets, corporate broking and advisory services. At end-September 2022, it employed 336 staff in offices in London, Dublin and New York and had 176 corporate clients.

Takeover Panel Restriction. For the purposes of the Takeover Code, Edison is deemed to be connected with Numis Corporation as a provider of paid-for research. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently we have removed our estimates until the offer period ends.

Latest Insights

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Sector

Financials

Equity Analyst

Robert Murphy

Managing Director, Financials and Investment Trusts

Key Management

  • Alexander Ham

    Co-Chief Executive Officer and Director

  • Andrew Holloway

    Chief Financial Officer and Company Secretary

  • Ross Mitchinson

    Co-Chief Executive Officer and Director

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.9 1.1 35.4
Relative (2.5) (1.0) 25.9
52 week high/low 341.0p/170.4p

Financials

On 28 April, Numis accepted a recommended cash acquisition of 350p per share, or a total value of c £410m, from Deutsche Bank AG for the entire issued and to be issued share capital of Numis. Shareholders are to be paid 339p in cash, an interim dividend of 6p (declared on 5 May) and an additional interim dividend of 5p (contingent on the transaction becoming effective). The all-cash offer represents a 72% premium to the closing price of 204p per share on 27 April. The transaction is expected to be completed during the fourth quarter of 2023.

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 215.6 72.3 74.2 49.1 6.9 N/A
2022A 144.2 25.6 20.9 11.9 28.3 N/A
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A

Research

Update

Financials

Numis — Very strong end to the year

Update

Financials

Numis Corporation — An encouraging update

Flash note

Financials

Numis Corporation — Keeping course in choppy water

Update

Financials

Numis Corporation — Advancing on all fronts

Update

Financials

Numis Corporation — Positive year-end update

Update

Financials

Numis Corporation — Comfortably ahead

Outlook

Financials

Numis Corporation — Franchise strength and development

Update

Financials

Numis Corporation — Update 4 January 2017

Update

Financials

Numis Corporation — Update 7 October 2016

Update

Financials

Numis Corporation — Update 19 May 2016

Update

Financials

Numis Corporation — Update 10 December 2015

Initiation

Financials

Numis Corporation — Update 10 November 2015

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Revisiting IPOs in London

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Financials

IFRS 16

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Financials

DACH Industrial & Logistic Property

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Financials

Time value of money

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Financials

Cash flow

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Financials

Enterprise versus equity valuation

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Financials

Deutsche Börse’s Scale

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Financials

Price to earnings ratio

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Consumer

Deutsche Börse Eigenkapitalforum 2014 Research Guide