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Numis Corporation (NUM)

Business description

Numis has grown to become one of the UK's leading institutional stockbrokers and corporate advisers. It employs c 255 staff in offices in London and New York and had 208 corporate clients at end March 2018.

Stock data

Market cap.£313.2m
Last close296.00p
High / Low (52 weeks)440.0p / 274.0p
Stock market listingLN
Forecast net debt (£m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(5.7)(30.3)(4.4)
Relative *(3.9)(24.1)0.7

* % Relative to local index

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Company news

Is Buying Numis Corporation Plc (LON:NUM) For Its Upcoming £0.06 Dividend A ...

Sun, 13 May 2018 08:48:45 GMT

Should You Buy Numis Corporation Plc (LON:NUM)?

Tue, 01 May 2018 14:03:45 GMT

Numis analyst fights on after bruising Schroders bust-up

Mon, 05 Jun 2017 03:03:20 GMT

Numis topples JPMorgan Cazenove from top City stockbroker spot

Sun, 03 Sep 2017 23:03:04 GMT

Broker Numis boasts of 'strong first half'

Thu, 29 Mar 2018 06:22:30 GMT

Y/E Sep Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 112.3 30.0 32.5 22.4 13.2 7.2
2017A 130.1 36.0 38.3 25.9 11.4 8.0
2018E 133.7 28.6 27.9 19.8 14.9 11.1
2019E 147.7 37.0 36.3 25.8 11.5 9.5

Last updated on 22/10/2018

Investment summary

In its FY18 trading update Numis indicated that full year revenue for FY18 was approximately 3% ahead of FY17. While activity levels were strong in the second half, the timing of transactions for Corporate Broking and Advisory and lower average values on those completed in the period meant that second half revenues were lower than we had estimated. In H218 the Equities business broadly matched its first half performance and encouragingly MiFID II does not appear to have had an adverse impact on the business, reflecting the strength and breadth of the service offered to institutional clients. The other area highlighted by the group is an “unprecedented period” of senior staff hiring. Reflecting the combination of a lower revenue expectation and higher assumed costs our FY18e EPS estimate was reduced by 24% but given the indication of a very strong pipeline the reduction was a more modest 5% for FY19.

Last updated on 26/10/2018

Industry outlook

The group points to a very strong near-term pipeline which paired with the momentum in the Equities business should help provide a good start to FY19. On a longer view the investment in senior staff should contribute to a broadening and deepening of the group’s capabilities and hence enhance potential earnings through market cycles.

Last updated on 26/10/2018

Key management

Andrew Holloway, Finance director

Company address

10 Paternoster Square
London
EC4M 7LT
United Kingdom
+44 (0)20 7260 1000
View website