Details for (MSY) / Market data / Selftrade

MISYS

(MSY GB00B45TWN62 GBX)

Value 349.000

Change Today 0.00

Updated18/05 16:35

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PROFILE

Registered Number	1360027
Registered Address	One Kingdom Street Paddington London W2 6BL
Phone Number	+44 (0) 203 3205000
Fax Number
Website	http://www.misys.com
Activities	Provides software development and investment consulting services
Country of Register	GB
Currency	GBX
Short Name	MISYS
First Day Traded	14/02/2011
Industrial Sector	Computer Services
Number of shares	363m

Key People

James Crosby	Chairman
Michael Lawrie	Chief Executive Officer
Timothy Tuff	Non Executive Director
Stephen Wilson	Financial Director
John King	Non Executive Director

Major Shareholders

ValueAct Capital Management LP	21.47%
Schroder Investment Management Ltd.	14.25%

Director Deals

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Income Statements £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/05/2007	31/05/2008	31/05/2009	31/05/2010	31/05/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Sales/Revenue	562.80	492.30	692.40	782.30	370
Cost of Goods Sold (COGS) incl. D&A	319.50	268.30	390.60	426.20	194.20
COGS excluding D&A	301.20	256	362.10	385.50	161.30
Depreciation & Amortization Expense	18.30	12.30	28.50	40.70	32.90
Depreciation	6.40	4.90	8.70	9.30	5.60
Amortization of Intangibles	11.90	7.40	19.80	31.40	27.30
Amortization of Deferred Charges	0	0	0	0	0
Gross Income	243.30	224	301.80	356.10	175.80
Selling, General & Administrative Expense	118.50	122.40	154.60	223.40	116.50
Research & Development	73	57.90	71.20	72.10	69.30
Other Selling, General & Administrative	45.50	64.50	83.40	151.30	47.20
Other Operating Expense	24.80	21.70	29	0	0
Non Operating Income/Expense	1.60	1	67.70	-2.20	-2.10
Non-Operating Interest Income	0.40	1.50	1.50	0.60	1.60
Equity in Affiliates (Pretax)	0	0	0	0	0
EBIT	0	0	0	0	0
Unusual Expense	64	27.60	71.10	14.80	18.20
EBIT after Unusual Expense	0	0	0	-14.80	0
Interest Expense	15.90	5.90	22.10	11.70	8.40
Gross Interest Expense	15.90	5.90	22.10	11.70	8.40
Interest Capitalized	0	0	0	0	0
Pretax Income	22.10	48.90	94.20	104.60	32.20
Income Tax	7.80	13.80	4.60	43.20	-2.10
Income Tax - Current Domestic	0.80	11	0.50	2.60	-3.60
Income Tax - Current Foreign	7.50	0	2.50	12.30	12.20
Income Tax - Deferred Domestic	-0.50	2.80	1.60	28.30	-10.70
Income Tax - Deferred Foreign	0	0	0	0	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	0	0	7.60	17.10	0
Equity in Affiliates	0	0	0	0	0
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	14.30	35.10	82	44.30	34.30
Extraordinaries & Discontinued Operations	0.70	78.20	0	0	614.70
Extra Items & Gain/Loss Sale Of Assets	0.70	78.20	0	0	606.90
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0	0	0	0	7.80
Net Income After Extraordinaries	15	113.30	82	44.30	649
Preferred Dividends	0	0	0	0	0
Net Income available to Common	14.30	35.10	82	44.30	34.30
Operational EPS	13.99	12.82	29.26	11.62	10.38
EPS (basic)	3.43	8.34	18.29	9.60	9.50
EPS (diluted)	3.38	8.27	18.21	9.42	7.57
EBITDA	118.30	92.20	146.70	173.40	92.20
EBIT	0	0	0	0	0
+Depreciation & Amortization Expense	18.30	12.30	28.50	40.70	32.90

Balance Sheet £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/05/2007	31/05/2008	31/05/2009	31/05/2010	31/05/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Cash & Short Term Investments	21.90	32.90	64.80	121.40	57.80
Cash Only	21.10	32	63.10	120.30	56.80
Short-Term Investments	0.80	0.90	1.70	1.10	1
Total Accounts Receivable	96.40	97.80	155.10	194.90	75.50
Accounts Receivables, Net	76	82.20	135.50	169.50	64.80
Accounts Receivables, Gross	80.80	90.50	142.90	177.50	69.40
Bad Debt/Doubtful Accounts	-4.80	-8.30	-7.40	-8	-4.60
Other Receivables	20.40	15.60	19.60	25.40	10.70
Inventories	0.60	1	1.60	2.10	0
Finished Goods	0	0	0	0	0
Work in Progress	0	0	0	0	0
Raw Materials	0	0	0	0	0
Progress Payments & Other	0	0	0	0	0
Other Current Assets	176.80	56.20	75.30	96	62.50
Prepaid Expenses	11.80	20.10	20.20	27.60	8.70
Miscellaneous Current Assets	165	36.10	55.10	68.40	53.80
Total Current Assets	295.70	187.90	296.80	414.40	195.80
Net Property, Plant & Equipment	15.20	17.60	29	30.80	14.50
Property, Plant & Equipment - Gross	52.90	49.90	66.20	74.10	44
Buildings	1.70	1.70	1.50	0	0
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	0	0	0	0	0
Leases	7.40	11.30	16.90	18.20	13.80
Computer Software and Equipment	43.80	36.90	47.80	55.90	30.20
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	0	0	0	0	0
Accumulated Depreciation	37.70	32.30	37.20	43.30	29.50
Buildings	0.40	0.50	0.80	0	0
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	0	0	0	0	0
Leases	0	0	0	0	0
Computer Software and Equipment	33.90	28.30	31.40	36.60	23
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	0	0	0	0	0
Total Investments and Advances	3.10	8	9.90	12	7.50
LT Investment - Affiliate Companies	0	0	0	0	0
Other Long-Term Investments	3.10	8	9.90	12	7.50
Long-Term Note Receivable	0.10	1	2.30	0.80	5.10
Intangible Assets	228.60	107.50	493.60	539.90	507
Net Goodwill	198.20	64.90	291.50	315.50	231.10
Net Other Intangibles	30.40	42.60	202.10	224.40	275.90
Other Assets	0	0.30	1.70	0.60	0
Deferred Charges	0	0.30	1.70	0.60	0
Tangible Other Assets	0	0	0	0	0
Total Assets	567.20	343.70	861.80	1,018	765.50
ST Debt & Curr. Portion LT Debt	3.10	5.50	2.40	46.30	17.90
Short Term Debt	2.10	4.90	0	0	0
Current Portion of Long Term Debt	1	0.60	2.40	46.30	17.90
Accounts Payable	20.20	23.30	21.30	28.50	13.40
Income Tax Payable	40.10	32.30	23.60	31.20	24.30
Other Current Liabilities	309	188.10	255.30	289.30	190.30
Dividends Payable	0	0	0	0	0
Accrued Payroll	0	0	0	0	0
Miscellaneous Current Liabilities	309	188.10	255.30	289.30	190.30
Total Current Liabilities	372.40	249.20	302.60	395.30	245.90
Long-Term Debt	176.90	0.50	189.30	73.10	149.20
Long-Term Debt excl. Capitalized Leases	176	0	188.90	72.30	149.20
Non-Convertible Debt	176	0	188.90	72.30	49.70
Convertible Debt	0	0	0	0	99.50
Capitalized Lease Obligations	0.90	0.50	0.40	0.80	0
Provision for Risks & Charges	11.60	9.20	20.80	22.30	17.50
Deferred Taxes	-23.80	-21.20	-22.10	-8.40	-8
Deferred Taxes - Credit	0.70	0.20	6.40	11.10	27.60
Deferred Taxes - Debit	-24.50	-21.40	-28.50	-19.50	-35.60
Accumulated Minority Interest	0	0	91.20	149.80	0
Other Liabilities	9.00	6.30	8.20	14.50	11.40
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	5.80	6.20	5.80	7.90	6.20
Deferred Income	3.20	0.10	2.40	6.60	5.20
Total Liabilities	570.60	265.40	527.30	516.30	451.60
Non-Equity Reserves	0	0	0	0	0
Preferred Stock (Carrying Value)	0	0	0	0	0
Redeemable Preferred Stock	0	0	0	0	0
Non-Redeemable Preferred Stock	0	0	0	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	-3.40	78.30	243.30	351.90	313.90
Common Stock Par/Carry Value	5.50	5.50	5.90	5.90	4.30
Additional Paid-In Capital/Capital Surplus	67.30	67.30	151.90	151.90	12.70
Retained Earnings	73	149.60	224.10	285.10	262.10
ESOP Debt Guarantee	-50.80	-48.60	-47.30	-40.70	-38
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	0.50	1.90	4.70	43.50	5.70
Unrealized Gain/Loss Marketable Securities	0	0	0	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	0.30	0.30	0.30	0.30	147.70
Unappropriated Reserves	0	0	0	0	0
Treasury Stock	-99.20	-97.70	-96.30	-94.10	-80.60
Total Shareholders' Equity	-3.40	78.30	243.30	351.90	313.90
Liabilities & Shareholders' Equity	567.20	343.70	861.80	1,018	765.50

Cash Flow £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/05/2007	31/05/2008	31/05/2009	31/05/2010	31/05/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Net Income before Extraordinaries	14.30	35.10	89.60	61.40	34.30
Depreciation, Depletion & Amortization	18.40	12.30	28.50	40.70	28.80
Depreciation and Depletion	6.40	4.90	8.70	9.30	6.50
Amortization of Intangible Assets	12	7.40	19.80	31.40	22.30
Deferred Taxes & Investment Tax Credit	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Investment Tax Credit	0	0	0	0	0
Other Funds	22.90	7.80	-33.70	53.80	0.60
Funds from Operations	55.60	55.20	84.40	155.90	63.70
Extraordinaries	0	0	0	0	0
Changes in Working Capital	0.20	-49.30	-3.80	-4.10	4.20
Receivables	-13.60	-48.40	-0.30	-38.70	-6
Inventories	0.30	-0.40	0.20	-0.30	0
Accounts Payable	4.50	1.70	-18.90	13	-3
Income Taxes Payable	0	0	0	0	0
Other Accruals	0	0	0	0	0
Other Assets/Liabilities	9	-2.20	15.20	21.90	13.20
Net Operating Cash Flow	55.80	5.90	80.60	151.80	67.90
Capital Expenditures	23.60	30.30	55.20	43.80	36.20
Capital Expenditures (Fixed Assets)	5.70	9.90	11.80	8.20	5
Capital Expenditures (Other Assets)	17.90	20.40	43.40	35.60	31.20
Net Assets from Acquisitions	-3.70	0	-153.90	-2.40	-211.90
Sale of Fixed Assets & Businesses	-0.10	177.60	8.40	0.40	676.80
Purchase/Sale of Investments	0	-4.80	-0.40	0.70	222.90
Purchase of Investments	-0.40	-4.80	-2.40	-1.30	-1.40
Sale/Maturity of Investments	0.40	0	2	2	224.30
Other Uses	0	0	0	-0.50	0
Other Sources	0	0	0	0	0
Net Investing Cash Flow	-27.40	142.50	-201.10	-45.60	651.60
Cash Dividends Paid - Total	-34.90	-37	-23.90	0	-33.90
Common Dividends	-34.90	-37	-23.90	0	-33.90
Preferred Dividends	0	0	0	0	-33.90
Change in Capital Stock	-0.90	0	73.60	3.60	-629
Repurchase of Common & Preferred Stk.	-0.90	-2.90	-15.20	0	-636.10
Sale of Common & Preferred Stock	0	2.90	88.80	3.60	7.10
Proceeds from Stock Options	0	0	85	0	0
Other Proceeds from Sale of Stock	0	2.90	3.80	3.60	7.10
Issuance/Reduction of Debt, Net	-24.70	-170.30	112.80	-69.80	-114.50
Change in Current Debt	-7.40	2.80	-4.90	0	0
Change in Long-Term Debt	-17.30	-173.10	117.70	-69.80	-114.50
Issuance of Long-Term Debt	100.90	92	462	58.20	97.90
Reduction in Long-Term Debt	-118.20	-265.10	-344.30	-128	-212.40
Other Funds	6.50	0	0	0	5.90
Other Uses	0	0	0	0	-7.80
Other Sources	6.50	0	0	0	13.70
Net Financing Cash Flow	-54	-207.30	162.50	-66.20	-771.50
Exchange Rate Effect	-2.20	1.50	-10.90	11.80	-6.10
Miscellaneous Funds	-0.00	0	-0.00	-0.00	-0.00
Net Change in Cash	-27.80	-57.40	31.10	51.80	-58.10
Free Cash Flow	15.20	-41	44.90	143.60	29

Analysis Data

	2007	2008	2009	2010	2011
Fiscal Year End	2007-05-31	2008-05-31	2009-05-31	2010-05-31	2011-05-31
Valuation
Market Capitalisation	1,264.60	800.56	910.85	1,194.99	1,311.54
Price/Earnings	83.80	21.79	10.40	26.80	38.08
Price/Sales	2.14	1.56	1.23	1.52	4.34
Price/Book Value	0	10.22	3.74	3.40	4.18
Price/Cash Flow	21.77	130.78	10.63	7.97	24.14
Enterprise Value/EBIT	13.73	9.32	9.10	10.23	29.49
Enterprise Value/EBITDA	11.60	8.08	7.33	7.83	18.97
Enterprise Value/Sales	2.44	1.51	1.55	1.74	4.73
Total Debt/Enterprise Value	0.13	0.01	0.18	0.09	0.10
Total Debt/EBITDA	1.52	0.07	1.31	0.69	1.81
EPS (basic)	3.43	8.34	18.29	9.60	9.50
EPS (diluted) as stated	3.38	8.27	18.21	9.42	7.57
Profitability
Gross Margin (%)	43.23	45.50	43.59	45.52	47.51
Operating Margin (%)	17.77	16.23	17.07	16.96	16.03
Pretax Margin (%)	3.93	9.93	13.60	13.37	8.70
Net Margin (%)	2.54	7.13	11.84	5.66	9.27
Return on Assets (%)	2.35	7.71	13.60	4.71	3.85
Return on Equity (%)	794.44	93.72	51.00	14.89	10.30
Return on Avg. Total Capital (%)	7.23	26.91	31.58	9.78	7.20
Return on Avg. Invested Capital (%)	7.51	27.82	32.07	10.33	7.72
Efficiency
Revenue/Employee	0.09	0.11	0.13	0.13	0.10
Receivables Turnover	4.82	5.07	5.48	4.47	2.74
Days of Sales Outstanding (DSO) (%)	75.68	71.99	66.66	81.65	133.37
Inventory Turnover	426.00	335.38	300.46	230.38	184.95
Days of Inventory on Hand (DIO)	0.86	1.09	1.21	1.58	1.97
Total Asset Turnover	0.92	1.08	1.15	0.83	0.41
Working Capital Turnover	0.00	0.00	0.00	40.96	0.00
Liquidity
Current Ratio	0.79	0.75	0.98	1.05	0.80
Quick Ratio	0.79	0.75	0.98	1.04	0.80
Capital Structure
Debt-to-Total Equity (%)	0.00	7.66	78.79	33.93	53.23
Debt-to-Total Capital (%)	101.93	7.12	44.07	25.33	34.74
Debt-to-Total Assets (%)	31.73	1.75	22.24	11.73	21.83
Interest Coverage	6.29	13.54	5.35	11.34	7.06

Market data

Name	Latest	Var
FTSE 100	5,267.62(c)	+0.00%
FTSE 250	10,431.90(c)	+0.00%
DOW INDUSTRIALS	12,369.38(c)	-0.59%
HONG KONG HANG SENG INDIC	18,859.33	-0.49%
Nikkei 225	8,633.89(c)	+0.26%

Name	Latest	Var

Name	Latest	Var

Buys

Name	Latest	Var
AVIVA	264.90(c)	-1.05%
RED EMPEROR RES	14.88(c)	-17.36%
LLOYDS GRP.	25.95(c)	-6.15%
BP	391.95(c)	-1.18%
VODAFONE GRP.	164.30(c)	-0.96%

Sells

Name	Latest	Var
LLOYDS GRP.	25.95(c)	-6.15%
RED EMPEROR RES	14.88(c)	-17.36%
PV CRYSTALOX	9.45(c)	+121.31%
BARCLAYS	176.10(c)	-3.19%
AVIVA	264.90(c)	-1.05%

Selftrade is a trading name and Selftrade® a registered trademark of Talos Securities Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 208271) and is a member of the London Stock Exchange and PLUS Markets. Talos Securities Ltd is incorporated in England and Wales (Registration No. 4196325, Registered Address: Boatman's House, 2 Selsdon Way, London E14 9LA). VAT No. 629 2807 22.

Data: include Bondscape, Dow Jones, Factset, FTSE, Morningstar. Conditions may apply.

MISYS

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

Analysis Data

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