Ultra Electronics (ULE)

Business description

Ultra Electronics is a global aerospace and defence electronics company, with operations across three divisions: Aerospace & Infrastructure (26% of 2016 sales); Communications & Security (33%); and Maritime & Land (41%).

Stock data

Market cap.£1117.8m
Last close1,438.00p
High / Low (52 weeks)2204.0p / 1142.0p
Stock market listingLN
Forecast net debt (£m)99.9
Forecast gearing ratio (%)19
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual(0.3)20.3(25.2)
Relative *5.822.9(25.6)

* % Relative to local index

Other companies in sector Show

Company news

Ultra Electronics woes continue after chief executive quits

Sat, 11 Nov 2017 16:33:17 GMT

US defence exposure helps support Ultra Electronics; shares up 17%

Thu, 11 Jan 2018 08:37:30 GMT

Ultra Electronics shares tumble after profit warning

Mon, 13 Nov 2017 15:13:03 GMT

Ultra Electronics to buy US partner Sparton for $235m

Fri, 07 Jul 2017 08:29:16 GMT

What fired Ultra Electronics to record high?

Mon, 06 Mar 2017 17:37:30 GMT

Investment summary

Ultra issued a reassuring post-close trading statement. The company has delivered continued order growth and is demonstrating strong cash conversion. The search for a new CEO continues, while the chairman in the CEO role as an interim measure provides an element of reassurance and continuity. The company has identified future areas for investment to deliver long-term growth and Ultra will deliver modest progress in FY18 as it continues to leverage its strong market positions. The statement should help allay investor concerns over profitability that have been weighing on the shares, as does the commitment to an increased final dividend despite a cut of 9% to FY17 EPS.

Last updated on 02/02/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 726.3 134.8 112.4 123.9 11.6 11.8
2016A 785.8 148.0 120.1 134.6 10.7 8.6
2017E 769.5 135.0 109.5 116.1 12.4 10.6
2018E 786.3 139.1 116.0 116.4 12.4 9.0

Last updated on 18/01/2018

Latest video

Analyst Interview - Ultra Electronics

Industry outlook

With defence drivers moving towards greater demand for electronic equipment and information management, Ultra is well positioned to benefit from more frequent upgrade cycles. In addition, it appears that defence spending may have turned a corner in the western world. Ultra stands to benefit from its diversified end-markets and order book visibility.

Last updated on 02/02/2018

Key management

Douglas Caster, Chairman
Douglas Caster, Chairman & CEO
Ami Sharma, CFO

Company address

417 Bridport Road
Greenford
Middlesex
UB6 8UA
United Kingdom
+44 (0) 20 8813 4321
View website