Meggitt (MGGT)

Business description

Meggitt is a global manufacturer of aerospace equipment, sensing and defence systems. Its end markets are Civil Aerospace (41%), Military (45%) and Energy & Other (14%).

US Q2 read-across

Update | Aerospace & Defence | 26/07/2011

With Meggitt’s interim results due on 2 August, we feel the prevailing winds are good with the read-across from US Q2 results from the likes of Goodrich and Honeywell hinting that traffic growth and revenues may well beat expectations. Factors such as the high margins derived from aftermarket revenues could contribute to full year upgrade potential. While we will be keeping a keen eye on military and energy revenues, and acknowledge the currency headwind, we see no reason why Meggitt continues to trade at such a substantial discount to its US peers.

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Stock data

Market cap.£2826.3m
Last close364.600p
High / Low (52 weeks)587.5p / 347.3p
Stock market listingLN, LN
Forecast net debt (£m)506
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual0.9(23.7)(29.8)
Relative *1.4(18.9)(25)

* % Relative to local index