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4imprint Group (FOUR)

Business description

4imprint is the leading direct marketer of promotional products in the US, Canada, the UK and Ireland. 97% of 2017 revenues were generated in the US and Canada.

Stock data

Market cap.£542.1m
Last close1,930.00p
High / Low (52 weeks)2260.0p / 1575.0p
Stock market listingLN
Forecast net cash (US$m)25
Forecast gearing ratio (%)N/A

Price performance

Relative *

* % Relative to local index

Other companies in sector Show

Company news

After returning 600% in 5 years, 4imprint Group plc isn't done growing yet

Wed, 08 Mar 2017 11:03:45 GMT

4imprint Group plc (LON:FOUR): What's The Analyst Consensus Outlook?

Tue, 08 May 2018 11:03:33 GMT

Broker Forecast - finnCap issues a broker note on 4imprint Group PLC

Wed, 07 Mar 2018 10:18:45 GMT

Broker Forecast - Peel Hunt issues a broker note on 4imprint Group PLC

Thu, 21 Jan 2016 13:52:30 GMT

4imprint Group plc (LON:FOUR): Good Growth, Poor Health

Fri, 13 Apr 2018 09:45:00 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2016A 558.2 40.8 38.4 98.7 25.6 15.2
2017A 627.5 45.1 42.5 107.7 23.5 15.9
2018E 725.0 48.2 45.1 126.9 19.9 15.4
2019E 797.5 55.4 52.3 147.0 17.2 13.0

Last updated on 01/11/2018

Latest research

Branding awareness

Update | Media | 01/11/2018

Market leader

Update | Media | 31/07/2018

Continued momentum

Update | Media | 08/05/2018

Branding evolution

Update | Media | 09/03/2018

Strong Q4, US tax change gains

Update | Media | 17/01/2018

Market share gains continue

Update | Media | 01/08/2017

Online catalogue of success

Update | Media | 10/03/2017

Premium growth continues

Update | Media | 19/01/2017

Interims and dividend increase

Update | Media | 02/08/2016

Strong promotion

Update | Media | 12/05/2016

Daily comment

Institutional Comment | Media | 04/03/2015

Outmarketing the market

Update | Media | 07/03/2013

Investment summary

4imprint’s trading update shows the spring 2018 brand marketing campaign continuing to generate supplementary revenues, as was the case at the interims. We have again edged our forecasts ahead (around 1% at both the revenue and earnings levels), to the higher end of the previous range of market estimates. There is still a substantial opportunity to exploit, given the market size (estimated by ASI at US$23.6bn) and the group’s leading position. While the group trades at a premium to the UK marketing sector, the drift in the share price has made the valuation more attractive, particularly on a DCF basis. The group remains highly cash-generative, with funding growth and a progressive dividend.

Last updated on 01/11/2018

Industry outlook

Industry body ASI estimates the size of the US promotional products market at around $23.6bn, having grown 3.2% in 2017. The larger distributors show a faster pace of growth at 8% (FY17: 4imprint revenue up 12.4%). The ASI now cites 4imprint as the largest distributor, having overtaken Staples Promotional Products. Despite the rapid pace of growth, the group’s market share remains less than 3%. If the industry continues to increase at the same rate and 4imprint achieves its revenue target, this would still represent less than 4% market share.

Last updated on 26/10/2018

Key management

Kevin Lyons-Tarr, CEO
David Seekings, FD

Company address

7/8 Market Place
United Kingdom
+ 44 (0)207 299 7201
View website