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United Utilities Group PLC Class A UU.

Morningstar Rating
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Stock XLON Rating as of
GBX 997.60 −12.90 (1.28%)
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As of Delayed Price Closed
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Company Report

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National Grid Earnings: Highly Dilutive Rights Issue to Fund Investments Step-Up

Tancrede Fulop

We maintain our GBX 1,040 fair value estimate after National Grid released fiscal 2024 results that were in line with company-compiled consensus and a new 5-year strategic plan calling for a massive step-up in investments to be funded by a GBP 7 billion rights issue and noncore asset disposals. The firm will pay a GBX 58.5 dividend in fiscal 2024, 5.6% above last year. It extends its target to grow the dividend in line with inflation through fiscal 2029 with the caveat that the 2024 dividend will be rebased to take into account the rights issue's shares. All in all, we forecast a 2025 dividend of GBX 43.

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Price vs Fair Value

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UU. is trading at a 389% premium.
Price
GBX 1,010.50
Fair Value
GBX 3,453.00
Uncertainty
Low
1-Star Price
GBX 8,648.00
5-Star Price
GBX 523.00
Economic Moat
Dljb
Capital Allocation
Xvpldskyq

Bulls Say, Bears Say

Bulls

Returns will likely increase in the next regulatory regime AMP8 starting in April 2025 due to the surge in interest rates since 2021.

Bears

The company lacks diversification, which brings regulatory risk.

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News

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Trading Information

Previous Close Price
GBX 1,010.50
Day Range
GBX 997.60–1,021.00
52-Week Range
GBX 896.76–1,139.50
Bid/Ask
GBX 0.00 / GBX 0.00
Market Cap
GBX 680.25 Bil
Volume/Avg
1.4 Mil / 2.2 Mil

Key Statistics

Price/Earnings (Normalized)
68.74
Price/Sales
3.54
Dividend Yield (Trailing)
4.64%
Dividend Yield (Forward)
4.64%
Total Yield
4.64%

Company Profile

United Utilities Group is primarily a holding company for United Utilities Water, the country's largest regulated water and wastewater utility, serving customers in northwest England, including Manchester and Liverpool.
Sector
Utilities
Industry
Utilities - Regulated Water
Stock Style Box
Mid Growth
Total Number of Employees
5,000
Website
https://www.unitedutilities.com

Comparables

Valuation

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Metric
UU.
SVT
PNN
Price/Earnings (Normalized)
 68.7429.89180.22
Price/Book Value
 —3.921.45
Price/Sales
 3.542.840.00
Price/Cash Flow
 8.8210.290.01
Price/Earnings
UU.
SVT
PNN

Financial Strength

Metric
UU.
SVT
PNN
Quick Ratio
 1.732.020.83
Current Ratio
 1.802.140.97
Interest Coverage
 0.341.200.89
Quick Ratio
UU.
SVT
PNN

Profitability

Metric
UU.
SVT
PNN
Return on Assets (Normalized)
 0.63%1.67%0.29%
Return on Equity (Normalized)
 3.83%17.86%1.49%
Return on Invested Capital (Normalized)
 2.00%4.60%3.37%
Return on Assets
UU.
SVT
PNN
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Utilities - Regulated Water Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
American Water Works Co Inc
AWK
KdyxxklDfkwgq$25.0 Bil
 Essential Utilities Inc
WTRG
ByvznbzGhzhns$10.1 Bil
 Companhia De Saneamento Basico Do Estado De Sao Paulo ADR
SBS
—Xtdvz$9.6 Bil
 Severn Trent PLC ADR
STRNY
—Ygdpcrr$9.2 Bil
 United Utilities Group PLC Class A
UUGWF
WmxlpzrvQkl$8.8 Bil
 United Utilities Group PLC ADR
UUGRY
TkxdzpfkKyy$8.8 Bil
 Guangdong Investment Ltd ADR
GGDVY
—Svnp$3.9 Bil
 Guangdong Investment Ltd
GGDVF
—Zbz$3.9 Bil
 Beijing Enterprises Water Group Ltd ADR
BJWTY
—Zql$3.6 Bil
 Beijing Enterprises Water Group Ltd
BJWTF
—Mmlcl$3.6 Bil

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