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1. Company Snapshot

1.a. Company Description

Spectris plc manufactures and sells measuring instruments and controls worldwide.It operates through Malvern Panalytical, HBK, Omega and Industrial Solutions segments.The Malvern Panalytical segment provides measurement and materials characterization and efficiency in R&D and manufacturing sectors.


The HBK segment offers differentiated sensing, testing, modelling and simulation solutions for product development.The Omega segment provides process improvement, specialist sensors, and omni-channel distribution services.The Industrial Solutions segment operates high-value precision in-line sensing and monitors businesses.


It also provides particle measuring systems, a solution to measure and monitor contamination levels in clean and controlled environments.In addition, the company offers red lion controls, an industrial automation tool that provides solutions to connect, monitor, and control disparate assets, as well as provides servomex, a specialist in gas and moisture analysis solutions.Further, it provides data and insights, test equipment and software for industrial applications.


Additionally, the company offers sensor, instrument, software, and services technology, as well as provides training, technical support, spare parts, calibration, and maintenance services.It serves pharmaceutical, automotive, electronics, semiconductors, technology-LED, and primary and advanced materials industries.Spectris plc was incorporated in 1986 and is based in London, the United Kingdom.

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1.b. Last Insights on SXS

Spectris plc's recent performance was driven by a potential takeover bid from Advent, a private equity firm, valuing the company at $5.06 billion. This development sent shares surging, with investors increasingly viewing the company as a takeout target due to its simplified portfolio and trading at a discount to US peers. The company's openness to the bid further fueled speculation, with analysts noting that a takeover could provide a premium to shareholders.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Form 8.3

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How Analysts See Spectris Shifting Amid Changing Growth and Valuation Expectations

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Form 8.3

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.47%)

6. Segments

Spectris Scientific

Expected Growth: 6.5%

Growing demand for precision sensing and monitoring solutions in industrial and scientific applications, driven by increasing adoption of Industry 4.0 technologies and rising need for process optimization and quality control.

Spectris Dynamics

Expected Growth: 4.5%

Growing demand for precision measurement and analytical instrumentation in industrial and laboratory applications, driven by increasing adoption of Industry 4.0 technologies and rising need for quality control and process optimization.

Other

Expected Growth: 4.5%

The 'Other' segment of Spectris plc is expected to grow driven by increasing demand for micro-mechanics and semiconductor technologies, as well as miscellaneous income from diversified sources, contributing to a forecast CAGR of 4.5%.

7. Detailed Products

Materials Analysis

Spectris' Materials Analysis segment provides a range of products and services for the analysis of materials, including X-ray fluorescence, X-ray diffraction, and electron microscopy.

Test and Measurement

Spectris' Test and Measurement segment offers a range of products and services for testing and measuring physical parameters, including temperature, pressure, and vibration.

In-Line Instrumentation

Spectris' In-Line Instrumentation segment provides products and services for real-time measurement and analysis of process parameters, including temperature, pressure, and flow rate.

Industrial Controls

Spectris' Industrial Controls segment offers a range of products and services for industrial automation and control, including control systems, sensors, and actuators.

Microscopy

Spectris' Microscopy segment provides products and services for microscopy and imaging, including light microscopy, electron microscopy, and atomic force microscopy.

8. Spectris plc's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Spectris plc is moderate, as there are some alternative products and services available in the market, but they are not highly attractive to customers.

Bargaining Power Of Customers

The bargaining power of customers for Spectris plc is low, as the company has a diverse customer base and no single customer accounts for a significant portion of its revenue.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Spectris plc is moderate, as the company relies on a few key suppliers for some of its components and materials.

Threat Of New Entrants

The threat of new entrants for Spectris plc is low, as the company operates in a highly specialized industry with significant barriers to entry.

Intensity Of Rivalry

The intensity of rivalry for Spectris plc is high, as the company operates in a highly competitive industry with several established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 4.55%
Debt Cost 7.39%
Equity Weight 95.45%
Equity Cost 7.39%
WACC 7.39%
Leverage 4.76%

11. Quality Control: Spectris plc passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Computacenter

A-Score: 5.7/10

Value: 4.9

Growth: 6.9

Quality: 5.7

Yield: 5.0

Momentum: 6.0

Volatility: 5.7

1-Year Total Return ->

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Rexel

A-Score: 5.3/10

Value: 4.9

Growth: 5.2

Quality: 3.0

Yield: 7.5

Momentum: 5.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Inficon

A-Score: 4.4/10

Value: 0.9

Growth: 6.8

Quality: 7.6

Yield: 4.4

Momentum: 2.0

Volatility: 4.7

1-Year Total Return ->

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Renishaw

A-Score: 4.3/10

Value: 2.4

Growth: 4.7

Quality: 6.8

Yield: 3.8

Momentum: 5.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Spectris

A-Score: 3.8/10

Value: 1.4

Growth: 3.1

Quality: 4.3

Yield: 3.8

Momentum: 9.5

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Comet Holding

A-Score: 2.5/10

Value: 1.3

Growth: 3.8

Quality: 6.1

Yield: 1.2

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

41.42$

Current Price

41.42$

Potential

-0.00%

Expected Cash-Flows