PTEC

Playtech (PTEC)

Company name:	Playtech Plc
EPIC:	PTEC	Trading Currency:	GBX
Market Sector:	F25F	ISIN:	IM00B7S9G985
Market Segment:	STMM	Share Type:	DE
WWW Address:	http://www.playtech.com	Description:	ORD NPV
Industry Sector:	SOFTWARE & COMPUTER SERVICES

Price	Price Change [%]	Bid	Ask	Open	High	Low	Volume
562.00	-0.5 [-0.09]	560.50	562.50	559.50	565.00	551.50	273,646
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
1,813.14	322.62	0.41	192.16	-	2.92	-	775.00 - 347.00

Playtech Key Figures

Key Figures
(at previous day's close)
Market Cap.	1,813.14	m
Shares In Issue	322.62	m
Prev. Close	562.50
PE Ratio	2.92
Dividend Yield	-	%
EPS - basic	192.16	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	58.65	p
Return On Equity (ROE)	42.58	%
Operating Margin	111.50	%
PEG Factor	0.01
EPS Growth Rate	327.21	%
Dividends PS Growth Rate	-	%
Net Debt	1,257.83	m
Gross Gearing	56.71	%
Quick Assets	1,229.82	m
Net Working Capital	817.50	m
Intangibles / Fixed Assets	47.77	%
Turnover PS	157.70	p
Pre-Tax Profit PS	175.84	p
Retained Profit PS	175.45	p
Cash PS	149.99	p
Net Cash PS	22.18	p
Net Tangible Asset Value PS *	139.40	p
Net Asset Value PS	412.16	p
Spread	2.00 (0.36%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Playtech Balance Sheet

%1$s Balance Sheet

Share Price Performance

Share Price Performance
Sample Period ^†	High	Low
1 week	565.00	508.50
4 weeks	565.00	482.00
12 weeks	638.00	482.00
1 year	775.00	347.00

Share Price Chart (5 years)

Playtech Historic Returns

%1$s Historic Returns
Giorni da oggi ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	514.00	48.00	9.34	508.50	0.56		546.85
4 weeks	523.50	38.50	7.35	482.00	0.70		517.05
12 weeks	614.00	-52.00	-8.47	482.00	0.68		569.37
26 weeks	735.00	-173.00	-23.54	482.00	1.06		641.89
1 year	456.40	105.60	23.14	347.00	1.32		605.30
3 years	393.60	168.40	42.78	111.00	1.25		446.26
5 years	987.50	-425.50	-43.09	111.00	1.52		547.68
† periods calculated are whole weeks rather than calendar months

Playtech Key Management Ratios

DEEPER ANALYSIS

Playtech Investment Ratios

%1$s Investment Ratios
(Market value analysis) at previous day's close
PQ Ratio	12.28
PE Ratio	2.92
Tobin's Q Ratio	0.54
Tobin's Q Ratio (excl. intangibles)	0.80
Dividend Yield	-	%
Market-to-Book Ratio	1.36
Price-to-Pre-Tax Profit PS	3.20
Price-to-Retained Profit PS	3.20
Price-to-Cash Flow PS	9.58
Price-to-Sales PS	3.56
Price-to-Net Tangible Asset Value PS	4.03
Price-to-Cash PS	3.75
Net Working Capital PS	253.39
Price Pct to Working Capital PS	2.22	%
Earnings Yield	34.19	%
Average PE	7.12
Years in average	4
PE to PE average	41.06	%

Playtech Financial Ratios

%1$s Financial Ratios
(Leverage Ratios)
Debt Ratio	49.99	%
Debt-to-Equity Ratio	1.00
Debt-to-Equity Ratio (excl. Intgbl)	2.95
Debt-to-Equity Market Value	0.73
Net Gearing	40.95	%
Net Gearing (excl. Intangibles)	57.39	%
Gross Gearing	56.71	%
Gross Gearing (excl. Intangibles)	79.47	%
Gearing Under 1 Year	13.42	%
Gearing Under 1 Year (excl. Intgbl)	18.81	%
Assets/Equity	2.31
Cash/Equity	36.39
(Liquidity Ratios)
Net Working Capital to Total Assets	26.62	%
Current Ratio	2.98
Quick Ratio (Acid Test)	2.98
Liquidity Ratio	1.17
Cash & Equiv/Current Assets	39.35	%
(Solvency Ratios)
Enterprise Value	2,658.89	m
CFO/Sales	0.37
CFO/Attributable Profit	0.33
CFO/Assets	0.06
CFO/Debt	0.11
Total Debt/Equity Market Value	0.96
Total Debt/Sales	3.42
Total Debt/Pre-Tax Profit	3.07
Total Debt	1,741.72	m
Total Debt/Net Current Assets	2.13	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	76.30	%
5 yr Compound Earnings Growth	23.46	%
10 yr Compound Earnings Growth	22.39	%
Earn drops > 5% in 10yrs	8

Beta coefficients
Beta (60-Mnth)	Beta (36-Mnth)
0.4066	0.2663

Playtech Operating Ratios

%1$s Operating Ratios
(Profitability Ratios)
Return On Capital Employed (ROCE)	21.33	%
Return On Assets (ROA)	16.85	%
Net Profit Margin	111.26	%
Assets Turnover	0.15
Return On Equity (ROE)	42.58	%
Return On Investment (ROI)	19.82	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	45.64	%
Net Income Of Revenues	111.26	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.41
Fixed Assets Turnover	0.27
Current Assets Turnover	0.35
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	6.60
Debtors-to-Sales	63.84	%
Debt Collection Period	233.00	Days

Playtech Dividends

%1$s Dividends
Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
22 Aug 2019	Interim	EUX	6.10	12/31/2018	12/31/2019	09/19/2019	09/20/2019	10/22/2019	6.10
21 Feb 2019	Final	EUX	12.00	12/31/2017	12/31/2018	05/02/2019	05/03/2019	05/31/2019	24.10
23 Aug 2018	Interim	EUX	12.10	12/31/2017	12/31/2018	09/20/2018	09/21/2018	10/23/2018	-
22 Feb 2018	Final	EUX	23.90	12/31/2016	12/31/2017	05/03/2018	05/04/2018	06/01/2018	36.00
24 Aug 2017	Interim	EUX	12.10	12/31/2016	12/31/2017	09/21/2017	09/22/2017	10/24/2017	-
23 Feb 2017	Final	EUX	21.70	12/31/2015	12/31/2016	05/04/2017	05/05/2017	06/02/2017	32.70
25 Aug 2016	Interim	EUX	46.00	12/31/2015	12/31/2016	11/03/2016	11/04/2016	12/06/2016	-
25 Aug 2016	Interim	EUX	11.00	12/31/2015	12/31/2016	09/22/2016	09/23/2016	10/25/2016	-
25 Feb 2016	Final	EUX	18.90	12/31/2014	12/31/2015	05/05/2016	05/06/2016	06/03/2016	28.50
27 Aug 2015	Interim	EUX	9.60	12/31/2014	12/31/2015	09/24/2015	09/25/2015	10/26/2015	-
26 Feb 2015	Final	EUX	17.50	12/31/2013	12/31/2014	05/07/2015	05/08/2015	06/05/2015	26.40
28 Aug 2014	Interim	EUX	8.90	12/31/2013	12/31/2014	09/24/2014	09/26/2014	10/27/2014	-
25 Feb 2014	Special	EUX	64.30	12/31/2012	12/31/2013	02/26/2014	02/28/2014	03/11/2014	-
20 Feb 2014	Final	EUX	15.40	12/31/2012	12/31/2013	02/26/2014	02/28/2014	05/23/2014	23.20
29 Aug 2013	Interim	EUX	7.80	12/31/2012	12/31/2013	09/25/2013	09/27/2013	10/28/2013	-
14 Mar 2013	Final	EUX	15.40	12/31/2011	12/31/2012	04/24/2013	04/26/2013	05/24/2013	23.20
30 Aug 2012	Interim	EUX	7.80	12/31/2011	12/31/2012	09/19/2012	09/21/2012	10/19/2012	-
15 Mar 2012	Final	EUX	13.60	12/31/2010	12/31/2011	04/25/2012	04/27/2012	05/31/2012	16.50
05 Aug 2011	Interim	EUX	2.90	12/31/2010	12/31/2011	10/26/2011	10/28/2011	12/08/2011	-
10 Mar 2011	Final	EUX	9.60	12/31/2009	12/31/2010	04/27/2011	05/03/2011	06/02/2011	19.00
26 Aug 2010	Interim	EUX	9.40	12/31/2009	12/31/2010	09/22/2010	09/24/2010	10/22/2010	-
17 Mar 2010	Final	EUX	9.40	12/31/2008	12/31/2009	04/28/2010	04/30/2010	06/03/2010	18.30
04 Sep 2009	Interim	EUX	8.90	12/30/2008	06/30/2009	09/24/2009	09/26/2009	11/18/2009	-
19 Mar 2009	Final	EUX	7.60	12/31/2007	12/31/2008	04/01/2009	04/03/2009	05/15/2009	15.20
03 Sep 2008	Interim	EUX	12.00	12/30/2007	06/30/2008	09/24/2008	09/26/2008	11/18/2008	-
04 Mar 2008	Final	EUX	9.90	12/31/2006	12/31/2007	03/26/2008	03/28/2008	05/20/2008	16.00
04 Sep 2007	Interim	EUX	6.10	12/30/2006	06/30/2007	09/19/2007	09/21/2007	10/19/2007	-
25 Feb 2007	Final	EUX	7.00	12/31/2005	12/31/2006	-	-	-	15.70
31 Aug 2006	Interim	EUX	8.70	12/30/2005	06/30/2006	09/06/2006	09/08/2006	10/06/2006	-

Playtech Fundamentals

Profit and Loss Account
	31 Dec 2018 (EUR)		31 Dec 2019 (EUR)		31 Dec 2020 (EUR)		31 Dec 2021 (EUR)
turnover	1,240.44	100.00%	1,508.45	100.00%	1,078.46	100.00%	605.00	100.00%	m
pre tax profit	297.24	23.96%	177.52	11.77%	-52.66	-4.88%	674.60	111.50%	m
attributable profit	256.18	20.65%	124.53	8.26%	-297.28	-27.57%	673.10	111.26%	m
retained profit	142.89	11.52%	68.98	4.57%	-297.28	-27.57%	673.10	111.26%	m
eps - basic	81.30		41.30		-99.60		226.30
eps - diluted	72.90		40.40		-99.60		216.20
dividends per share	24.10		6.10		-		-

Playtech Balance Sheet

Balance Sheet
	31 Dec 2018 (EUR)		31 Dec 2019 (EUR)		31 Dec 2020 (EUR)		31 Dec 2021 (EUR)


	31 Dec 2018 (EUR)		31 Dec 2019 (EUR)		31 Dec 2020 (EUR)		31 Dec 2021 (EUR)
ASSETS
fixed assets	410.09	13.26%	375.90	12.13%	357.12	11.65%	403.50	11.05%	m
intangibles	1,644.13	53.14%	1,574.53	50.83%	1,163.91	37.98%	1,046.10	28.64%	m
fixed investments	46.98	1.52%	91.35	2.95%	120.89	3.94%	740.30	20.27%	m
current assets - other	-	-%	36.80	1.19%	468.89	15.30%	507.40	13.89%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	370.33	11.97%	347.60	11.22%	269.97	8.81%	379.60	10.39%	m
cash & securities	622.20	20.11%	671.54	21.68%	683.68	22.31%	575.40	15.75%	m

TOTAL	3,093.73	100%	3,097.71	100%	3,064.45	100%	3,652.30	100%	m

LIABILITIES
creditors - short	1,017.57	32.89%	773.62	24.97%	513.56	16.76%	490.30	13.42%	m
creditors - long	725.65	23.46%	1,098.29	35.45%	1,341.78	43.79%	1,236.00	33.84%	m
creditors - other	-	-%	3.60	0.12%	309.17	10.09%	344.80	9.44%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	1,743.22	56.35%	1,875.51	60.54%	2,164.52	70.63%	2,071.10	56.71%	m

EQUITY
ord cap, reserves	1,342.71	43.40%	1,226.51	39.59%	899.59	29.36%	1,580.90	43.29%	m
prefs, minorities	7.80	0.25%	-4.30	-0.14%	0.35	0.01%	0.30	0.01%	m

TOTAL	1,350.51	43.65%	1,222.21	39.46%	899.94	29.37%	1,581.20	43.29%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Playtech Cash Flow Statement

%1$s Cash Flow Statement
	31 Dec 2018 (EUR)	31 Dec 2019 (EUR)	31 Dec 2020 (EUR)	31 Dec 2021 (EUR)
Operating CF	387.13	320.94	366.92	225.00	m
Pre-Financing CF	436.38	120.07	277.58	97.40	m
Retained CF	42.82	50.82	382.20	-121.00	m

Playtech Brokers

%1$s Brokers
Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Commerzbank AG	Market Maker(MME)	Broker/Dealer	KLWT	DRESGB2LPST
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Jefferies International Ltd	Market Maker(MME)	Broker/Dealer	JEFF	JEFFGB2X
Liberum Capital Limited	Market Maker(MME)	Broker/Dealer	LIBC	LCAPGB21
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
Merrill Lynch International	Market Maker(MME)	Broker/Dealer	MLSB	SNCSGB2LBIC
Seymour Pierce	Market Maker(MME)	Broker/Dealer	SEYP	SPBTGB21
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC