Annuncio • Mar 26
Volex plc Provides Group Earnings Guidance for the Year Ending 31 March 2026 Volex plc provided group earnings guidance for the year ending 31 March 2026. For the year, the group expects revenue to be at least $1,220 million. Recent Insider Transactions • Feb 04
Chief Operating Officer recently bought UK£144k worth of stock On the 28th of January, Dom Molloy bought around 32k shares on-market at roughly UK£4.55 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth UK£160k. Despite this recent buy, Dom has been a net seller over the last 12 months, reducing personal holdings by UK£859k. Recent Insider Transactions • Dec 17
Non Executive Chair recently bought UK£160k worth of stock On the 11th of December, David Webster bought around 39k shares on-market at roughly UK£4.07 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Declared Dividend • Nov 14
Final dividend of UK£0.016 announced Shareholders will receive a dividend of UK£0.016. Ex-date: 27th November 2025 Payment date: 8th January 2026 Dividend yield will be 1.1%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 34%. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£4.28, the stock trades at a forward P/E ratio of 21x. Average trailing P/E is 21x in the Electrical industry in the United Kingdom. Total returns to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.22 per share. Annuncio • Oct 17
Volex plc Provides Group Earnings Guidance for the First Half Ended September 30, 2025 and Second Half of Year 2026 Volex plc provided group earnings guidance for the first half ended September 30, 2025 and second half of year 2026. For the first half ended September 30, 2025, revenues are expected to exceed $575 million with organic revenue growth for the period of at least 11%, driven by the Group's product offering and long-standing relationships with blue-chip customers across five end-markets. Operating profit margin for the first half is expected to remain within the upper half of the Board's through-cycle target range of 9-10%.
For the second-half of year 2026, the group expects revenues to be broadly similar to the first half, reflecting stable trading across most end-markets. Annuncio • Oct 16
Volex plc to Report First Half, 2026 Results on Nov 12, 2025 Volex plc announced that they will report first half, 2026 results on Nov 12, 2025 Annuncio • Aug 27
Credo Technology Group Holding Ltd and Volex plc Reach Settlement in Active Electrical Cable Patent Infringement Dispute Credo Technology Group Holding Ltd. has reached a license and settlement agreement with Volex plc related to Credo's patents covering Credo's active electrical cable technology. Based on this agreement, the lawsuit between the parties will be promptly withdrawn, bringing an end to their patent dispute. Reported Earnings • Aug 24
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.26 (up from US$0.22 in FY 2024). Revenue: US$1.09b (up 19% from FY 2024). Net income: US$47.9m (up 22% from FY 2024). Profit margin: 4.4% (up from 4.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Annuncio • Aug 08
Volex plc Approves Final Dividend for the the Financial Year Ended 30 March 2025 Volex plc announced that at the AGM held on 7 August 2025, approved to declare a final dividend of 3.0 pence per ordinary share for the financial year ended 30 March 2025. Upcoming Dividend • Jul 24
Upcoming dividend of UK£0.03 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 05 September 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (1.8%). Declared Dividend • Jun 29
Final dividend of UK£0.03 announced Shareholders will receive a dividend of UK£0.03. Ex-date: 31st July 2025 Payment date: 5th September 2025 Dividend yield will be 1.2%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 36%. Reported Earnings • Jun 27
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$0.26 (up from US$0.22 in FY 2024). Revenue: US$1.09b (up 19% from FY 2024). Net income: US$47.9m (up 22% from FY 2024). Profit margin: 4.4% (up from 4.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (43% net debt to equity). Share price has been volatile over the past 3 months (6.9% average weekly change). Annuncio • Jun 26
Volex plc, Annual General Meeting, Aug 07, 2025 Volex plc, Annual General Meeting, Aug 07, 2025. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to UK£3.70, the stock trades at a forward P/E ratio of 20x. Average trailing P/E is 15x in the Electrical industry in the United Kingdom. Total returns to shareholders of 60% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.74 per share. Annuncio • Jun 26
Volex plc Proposes Final Dividend for the 52 Weeks Ended March 30, 2025, Payable on September 5, 2025 Volex plc announced that the Board proposed an increased final dividend of 3.0 pence per share for the 52 weeks ended March 30, 2025 . This final dividend, combined with an interim dividend of 1.5 pence per share, results in a total dividend for FY2025 of 4.5 pence. If approved, the final dividend will be paid on September 5, 2025 to all shareholders on the register at August 1, 2025. The ex-dividend date will be July 31, 2025. Annuncio • Jun 06
PFN Group of Companies Inc. acquired 51% stake in Prodamex S.A De C.V./Terminal & Cable TC Inc. from Volex plc (AIM:VLX) PFN Group of Companies Inc. acquired 51% stake in Prodamex S.A De C.V./Terminal & Cable TC Inc. from Volex plc (AIM:VLX) on June 6, 2025.
PFN Group of Companies Inc. completed the acquisition of 51% stake in Prodamex S.A De C.V./Terminal & Cable TC Inc. from Volex plc (AIM:VLX) on June 6, 2025. Annuncio • Jun 02
Volex plc to Report Fiscal Year 2025 Results on Jun 26, 2025 Volex plc announced that they will report fiscal year 2025 results on Jun 26, 2025 Recent Insider Transactions • Apr 20
Chief Operating Officer recently bought UK£149k worth of stock On the 11th of April, Dom Molloy bought around 67k shares on-market at roughly UK£2.23 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth UK£226k. This was Dom's only on-market trade for the last 12 months. Recent Insider Transactions • Apr 14
Executive Chairman recently bought UK£226k worth of stock On the 9th of April, Nathaniel Philip Victor Rothschild bought around 103k shares on-market at roughly UK£2.20 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Nathaniel Philip Victor's only on-market trade for the last 12 months. Annuncio • Apr 08
Volex plc Provides Earnings Guidance for the Financial Year Ended 30 March 2025 Volex plc announced that revenue for financial year 2025 is now expected to be at least $1,060 million, representing a year-on-year increase of at least 16%, and organic constant currency growth of at least 8%. Underlying operating margins are anticipated to be at the upper end of the target corridor of 9% to 10%, with operating profit of at least $100 million, well ahead of the top end of market estimates. Buy Or Sell Opportunity • Apr 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to UK£2.23. The fair value is estimated to be UK£2.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Annuncio • Mar 14
Credo Files AEC Patent Infringement Complaint Against Amphenol, Molex, TE Connectivity, and Volex Credo Technology Group Holding Ltd. has filed a complaint alleging patent infringement on March 13, 2025, asking the United States International Trade Commission to initiate an investigation against Amphenol Corporation, Molex LLC, TE Connectivity PLC, and Volex PLC and to block the importation of products that infringe Credo’s patents related to Active Electrical Cables (AECs). In addition, Credo is filing parallel complaints in Federal District Court alleging willful infringement as Credo provided notice of its patents to each of these companies in September 2023. The action against these companies reflects Credo’s commitment to protecting its foundational innovations in AEC technology. Since its founding in 2008, Credo has developed, created, and delivered to U.S. customers a variety of high-speed wired connectivity solutions in the data infrastructure market, including its series of distinctive purple HiWire AECs. Declared Dividend • Nov 18
First half dividend of UK£0.015 announced Shareholders will receive a dividend of UK£0.015. Ex-date: 28th November 2024 Payment date: 9th January 2025 Dividend yield will be 1.4%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 17% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Nov 17
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 43% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (43% net debt to equity). Shareholders have been diluted in the past year (13% increase in shares outstanding). Annuncio • Nov 16
Volex Announces Possible Offer for TT Electronics Volex plc (AIM:VLX) announced that it has submitted two proposals to the Board of TT Electronics plc (LSE:TTG) regarding a possible cash and shares offer for the entire issued and to be issued share capital of TT Electronics. The first proposal comprised 62.9 pence in cash and 0.203 new Volex shares per TT Electronics share which implied, at the time of the first proposal, a price of 129.0 pence per TT Electronics share, and the second proposal comprised 62.9 pence in cash and 0.223 new Volex shares per TT Electronics share which implied, at the time of the second proposal, a price of 135.5 pence per TT Electronics share (together, the "Volex Proposals"). The Board of TT Electronics has declined to engage with Volex and rejected each of the Volex Proposals. Based on the price of Volex shares as at the close of business on 14 November 2024 (being the latest practicable date prior to the date of this announcement), Volex's latest proposal, consisting of 62.9 pence in cash and 0.223 new Volex shares per TT Electronics share (the "Second Proposal"), now implies a value of 139.6 pence per TT Electronics share, values the fully diluted share capital of TT Electronics at £248.6m and implies a premium of: 76.7% to TT Electronics closing price of 79.0 pence as at the close of business on 14 November 2024 (being the latest practicable date prior to the commencement of the offer period on 15 November 2024); and 73.2% to the one month volume weighted average price for TT Electronics shares as at the close of business on 14 November 2024. The Board of Volex therefore firmly believes that the terms of the Second Proposal offer a highly attractive opportunity for TT Electronics shareholders to realise both an immediate partial cash exit following the ongoing operational and end market challenges faced by TT Electronics and the opportunity to share meaningfully in the upside of a highly attractive enlarged business. If any offer were made on the basis of the Second Proposal, Volex expects it would offer a mix-and-match facility to provide TT Electronics shareholders with flexibility. Lord Rothschild, Executive Chairman of Volex, commented: "We believe that bringing Volex and TT Electronics together in a highly synergistic transaction would create a scaled and diversified leader in the specialist electronics market which would act as a platform for future organic and inorganic growth and significant value creation. TT Electronics would provide the Group with further exposure to structural growth markets, such as medical and industrial technology, and add a new end-market, aerospace and defence, to progress Volex's successful strategy of diversification. At the same time, TT Electronics would benefit from being part of a larger group with stronger performance and the associated opportunities for revenue and cost synergies to deliver higher profitability. Despite the resilience of TT Electronics' underlying business, it has faced persistent challenges in recent years, which Volex believes have been exacerbated by execution missteps by the Board, including former and current executive leadership. As a result TT Electronics' shares are trading at a 10 year low. Since the disposal of the former Transportation Sensing and Control division in 2017 for c.£119 million, TT Electronics has spent approximately the same amount on acquisitions (for which the purchase prices have been disclosed), paying elevated multiples in an effort to develop a higher quality business. Instead, TT Electronics has delivered a series of inconsistent annual results with adjusted operating profit only improving 60 bps since 2019 to 8.6% for the financial year ended 31 December 2023, well below the 10%+ margin target set by TT Electronics management in 2019. This is before factoring in restructuring charges, which amounted to a total of £43.9m over the same period. In comparison, Volex's adjusted operating margin increased by 170 bps to 9.8% from 2020 to 2024 (financial year ending 31 March), achieving and sustaining the higher end of management's guidance for 9-10% margin. Volex's only restructuring charge during this period was £0.8 million recognised in 2022. TT Electronics' acquisition strategy has also resulted in very disappointing outcomes. In early 2024, TT Electronics disposed of three sites with a write-down of £32.5 million, including the company's activities at Hartlepool and Dongguan, which it had acquired through its takeover of Stadium plc in 2018. Furthermore, TT Electronics now has operational issues at two North American sites serving aerospace and defence, a market that TT Electronics has targeted through its acquisitions of Torotel and Covina in the US. Annuncio • Nov 15
Volex plc Declares an Interim Dividend, Payable on 9 January 2025 The Board of Volex plc has declared an interim dividend of 1.5 pence, an increase of 7.1% on the previous year, and remains committed to a progressive dividend policy, striking a balance between delivering growth through investment and returning cash to shareholders. The interim dividend will be paid on 9 January 2025 to those shareholders on the register on 29 November 2024. The ex-dividend date will be 28 November 2024. Annuncio • Oct 16
Volex plc to Report First Half, 2025 Results on Nov 15, 2024 Volex plc announced that they will report first half, 2025 results on Nov 15, 2024 Annuncio • Aug 02
Volex plc Declares Final Dividend for the Financial Year Ended 31 March 2024 Volex plc at its annual general meeting held on August 1, 2024, declared a final dividend of 2.8 pence per ordinary share for the financial year ended 31 March 2024. Upcoming Dividend • Jul 18
Upcoming dividend of UK£0.028 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 30 August 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (1.9%). Declared Dividend • Jun 28
Final dividend of UK£0.028 announced Shareholders will receive a dividend of UK£0.028. Ex-date: 25th July 2024 Payment date: 30th August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 17% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Jun 27
Volex plc, Annual General Meeting, Aug 01, 2024 Volex plc, Annual General Meeting, Aug 01, 2024. Reported Earnings • Jun 27
Full year 2024 earnings released: EPS: US$0.22 (vs US$0.23 in FY 2023) Full year 2024 results: EPS: US$0.22. Revenue: US$912.8m (up 26% from FY 2023). Net income: US$39.3m (up 6.8% from FY 2023). Profit margin: 4.3% (down from 5.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in the United Kingdom. Annuncio • Jun 26
Volex plc Proposes Final Dividend, Payable 30 August 2024 Volex plc announced that subject to approval by shareholders at the upcoming AGM on 1 August 2024, the company proposed a final dividend of 2.8 pence per ordinary share will be paid on 30 August 2024 to shareholders on the register on 26 July 2024. The ex-dividend date will be 25 July 2024. Annuncio • May 25
Volex plc to Report Fiscal Year 2024 Results on Jun 26, 2024 Volex plc announced that they will report fiscal year 2024 results on Jun 26, 2024 Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£3.18, the stock trades at a forward P/E ratio of 14x. Average trailing P/E is 17x in the Electrical industry in the United Kingdom. Total loss to shareholders of 4.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£3.38 per share. Annuncio • Apr 19
Volex plc Provides Revenue Guidance for the Financial Year Ended 31 March 2024 Volex plc announced that revenue is now expected to be at least $900 million for the financial year ended 31 March 2024, representing an increase of at least 25% over the prior year, including seven months contribution from the acquisition of Murat Ticaret, while underlying operating profit1 is also now anticipated to be slightly ahead of analyst expectations. Annuncio • Feb 07
Spectra7 and Volex Announce Successful Demonstration of Industry Leading Performance for 800G Active Copper Interconnects Spectra7 Microsystems Inc. and Volex plc announced that they successfully demonstrated industry leading performance of 800G Active Copper Cables (ACCs) at this year's annual DesignCon Conference Exhibition held last week in Santa Clara, California. In the demonstration, Volex 800Gbps QSFP-DD ACCs with Spectra7's embedded GC1122 chips successfully interoperated with test equipment from several vendors to produce very robust low pre-FEC bit error rates (BERs) significantly below standard required BER. Spectra7's analog based GaugeChanger GC1122 chips are used in ACCs and offer significant cost, size, and energy consumption value versus competing Active Electrical Cables (AECs) and Active Optical Cables (AOCs) that use Digital Signal Processing (DSP) technologies. Reported Earnings • Nov 24
First half 2024 earnings released: EPS: US$0.089 (vs US$0.10 in 1H 2023) First half 2024 results: EPS: US$0.089 (down from US$0.10 in 1H 2023). Revenue: US$397.5m (up 11% from 1H 2023). Net income: US$15.1m (down 7.4% from 1H 2023). Profit margin: 3.8% (down from 4.6% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Annuncio • Nov 23
Volex plc Declares Interim Dividend, Payable on 10 January 2024 Volex plc has declared an interim dividend of 1.4 pence, an increase of 7.7% on the previous year. Since the Group recommenced dividend distributions in 2020, it has progressively increased payments by 40% in that time. The Board is committed to a progressive dividend policy, striking a balance between delivering growth through investment and returning cash to shareholders. The interim dividend will be paid on 10 January 2024 to those shareholders on the register on 1 December 2023. The ex-dividend date will be 30 November 2023. Annuncio • Oct 25
Volex plc Provides Group Earnings Guidance for the 52 Weeks Ending 31 March 2024 Volex plc provided group earnings guidance for the 52 weeks ending 31 March 2024. The Group continues to maintain strong financial momentum and is well positioned to achieve full-year results in line with market expectations. The Company has compiled forecasts from four analysts with current market forecasts for the 52 weeks ending 31 March 2024 for revenue to be in the range of $849.8 million to $891.0 million, with a consensus of $864.6 million, and for underlying operating profit to be in the range of $82.3 million to $87.0 million, with a consensus of $84.3 million. Annuncio • Oct 20
Volex plc Announces Directorate Changes Volex plc announced the following changes to its Board. John Wilson has been appointed to the Board, as an independent non-executive Director, with effect from 19 October 2023. John is a globally experienced Boardroom Director, with a strong background in the technology, components and connectivity solutions sectors. He is currently CEO of Bulgin Limited, a global leading manufacturer of sealed connectors and components, and was formerly Senior Independent Director, Chair of the Audit Committee and Chair of the Remuneration Committee of Checkit plc (previously Elektron Technology plc). John has a degree in Engineering from the University of Durham. Dean Moore, senior non-executive Director, has notified the Board of his decision to resign with immediate effect, in order to pursue other business interests. Sir Peter Westmacott has been appointed as Senior Independent Director, and Jeffrey Jackson has been appointed as a member of the Nominations Committee, both with immediate effect. Following his appointment, John Wilson will assume the role of Chair of the Audit Committee. Buying Opportunity • Sep 07
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be UK£3.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 42% in 2 years. Earnings is forecast to grow by 54% in the next 2 years. Annuncio • Sep 02
Volex plc (AIM:VLX) completed the acquisition of Murat Ticaret Kablo Sanayi Anonim Sirketi. Volex plc (AIM:VLX) agreed acquire Murat Ticaret Kablo Sanayi Anonim Sirketi for approximately €180 million on June 22, 2023. The consideration of up to approximately €178.1 million will be satisfied through €136.5 million in initial cash consideration; and up to €41.6 million of deferred contingent consideration payable over two years subject to financial performance in each of the two years, to catch up rights and to satisfy the deferred contingent consideration entirely in cash, or up to approximately 50% in Volex ordinary shares, at its discretion. In related transaction, Volex is raising approximately €69.91 million to part-fund the initial cash consideration for the Acquisition. The initial cash consideration of €136.5 million will be satisfied by the net cash proceeds from the Fundraising of approximately €68.4 million and the remaining €68.1 million balance will be funded from existing and amended debt facilities. The year ended December 31, 2022, Murat Ticaret generated consolidated revenue and underlying EBITDA of approximately €158 million and €33 million respectively and net assets of approximately €69 million. The Acquisition is expected to complete in two to three months, subject to approval by the Turkish and Macedonian competition authorities. Ed Allsopp, Mike Bell, Tom Ballard, Ben Harrington, Sohail Akbar and Jock Maxwell Macdonald of Peel Hunt LLP acted as a nominated financial advisor to Volex. Elvan Aziz and Serdar Ildirar and Togan Turan of Paksoy Ortak Avukat Burosu acted as a legal advisor to Volex plc. Gowling WLG acted as a legal advisor to Volex. As on August 7, 2023, Turkey and Macedonia competition authorities approved the deal. All conditions have been fulfilled. The transaction is expected to complete at the end of August.Volex plc (AIM:VLX) completed the acquisition of Murat Ticaret Kablo Sanayi Anonim Sirketi on September 1, 2023. New Risk • Aug 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Annuncio • Jul 29
Board of Volex plc Approves Final Dividend for the Financial Year Ended 2 April 2023 Volex plc announced that at its AGM held on July 27, 2023 approved a final dividend of 2.6 pence per ordinary share for the financial year ended 2 April 2023. Recent Insider Transactions • Jul 21
Executive Chairman recently bought UK£342k worth of stock On the 18th of July, Nathaniel Philip Victor Rothschild bought around 118k shares on-market at roughly UK£2.90 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Nathaniel Philip Victor's only on-market trade for the last 12 months. Upcoming Dividend • Jul 13
Upcoming dividend of UK£0.026 per share at 1.3% yield Eligible shareholders must have bought the stock before 20 July 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (6.2%). Lower than average of industry peers (2.3%). Reported Earnings • Jun 22
Full year 2023 earnings released: EPS: US$0.23 (vs US$0.19 in FY 2022) Full year 2023 results: EPS: US$0.23 (up from US$0.19 in FY 2022). Revenue: US$722.8m (up 18% from FY 2022). Net income: US$36.8m (up 21% from FY 2022). Profit margin: 5.1% (up from 4.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£2.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the Electrical industry in the United Kingdom. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.79 per share. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£2.35, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 19x in the Electrical industry in the United Kingdom. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£2.50 per share. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate increased from US$0.21 to US$0.23. Revenue forecast steady at US$692.7m. Net income forecast to grow 26% next year vs 22% growth forecast for Electrical industry in the United Kingdom. Consensus price target broadly unchanged at UK£4.25. Share price rose 10% to UK£2.81 over the past week. Reported Earnings • Nov 10
First half 2023 earnings released: EPS: US$0.10 (vs US$0.11 in 1H 2022) First half 2023 results: EPS: US$0.10 (down from US$0.11 in 1H 2022). Revenue: US$357.5m (up 22% from 1H 2022). Net income: US$16.3m (down 5.2% from 1H 2022). Profit margin: 4.6% (down from 5.9% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electrical industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 29% per year. Buying Opportunity • Oct 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be UK£3.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. 
