YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

BT is probably worth a deeper look. Price is low compared to sales, earnings

Attractive or assets, and historical fundamentals look strong.

Value Score Fundamental Score Valuation from Historical Mult.

Good (9/10) Strong (7/10) 17.38% under

Key Statistics

Price Jan 18, 20:00 23.74 Revenue (TTM) 30.23B PE Ratio (TTM) N/A
52 Week High (Daily) 36.04 Revenue (Qtrly YoY Growth) 24.21% PS Ratio (TTM) 1.446
52 Week Low (Daily) 21.61 Net Income (Quarterly) 844.63M Profit Margin (Quarterly) 10.18%
Market Cap 47.30B EPS Diluted (Quarterly) 0.4237 Return on Equity (TTM) 55.17%
Enterprise Value 62.12B EPS Diluted (Qtrly YoY Growth) -7.79% Beta (5Y) 1.114

Company Description

Exchange: NYSE Sector: Communication Services Industry: Telecom Services

BT Group PLC is a provider of telecommunications networks and services. The company is based in the UK but we serve customers across 180
countries. It sells fixed-voice, broadband, mobile and TV products and services to consumers in the UK.

Price Performance, 5 Years

BT 23.74

1 Year Total Returns Performance Profitability

BT -25.58% LBTYA 4.13% Revenue 8.295B Total Expenses 6.960B

VOD -11.29% SKYAY -15.93% (Quarterly) (Quarterly)
Net Income 844.63M
(Quarterly)
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Pro Value Score

Good (9/10)

BT has a good value score. It is likely selling at a low price given its performance. If the future looks like the
past, this stock has promise.

Value Score Components About the Value Score

The items below are the key metrics in the Value Score. The bars
beneath the metric show which quintile the company falls in compared
to the whole market. For example, if a stock has 4 bars colored for
Earnings Yield, it's earnings yield is between the 60th and 80th
percentile in the market.
Earnings Yield: 9.22%
Earnings per share from the previous four quarters divided by the share
price.
Continuing Ops Earnings Yield: 9.22%
Removes discontinued operations from the earnings yield figure to be
more forward-looking.
The Value Score is the most important element of the Y-Rating. It
is highly historically predictive. Portfolios of stocks with a Value
Score of 10 historically outperformed the S&P500 substantially, and
portfolios of stocks with a score of 1 substantially underperformed the
S&P 500.
The Value Score is a composite score. It tells you how much you
are getting in terms of profits, cash flows, assets, sales, etc. for the
price that you pay. It is a relative measurement, so it says nothing
about the overall level of the market. Rather, it answers the question:
"Given the current market level, which stocks give you the most current
value for your dollar of investment?" Tens are the most value, and 1s
are the least.
Use it to find companies that are selling at a low price relative to
their assets and profits, but watch out for companies with a lot of
uncertainty or bad prospects for the future (e.g. Pharma companies
with expiring patents, industries on the decline, etc.).

Adjusted Cash Earnings Yield: 17.29% Historical Results

Cash generated per dollar of investment. Calculated as net income plus
depreciation and amortization per share divided by the share price. This chart shows the value of $1 invested in portfolios of companies
with different Value Scores, based on historical tests.

Book to Market: 0.2889

Book value (historical cost) of a company's equity compared to its
market capitalization.

Dividends Yield: 3.95%

Estimated annual dividends per share, divided by the current price per
share.

Market Cap to Sales Ratio: 1.564 Value score of companies in portfolio.

Market Cap divided by total revenues. Most useful for comparing
10 7 4 1
companies within industries.
9 6 3 S&P 500
8 5 2
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Pro Fundamental Score

Strong (7/10)

BT has a strong fundamental score. The company looks strong, but check failed tests carefully for possible
weakness.

The Fundamental Tests About the Fundamental Score

The fundamental tests shown below tend to be absolute positive or
negative factors. These tests can be used to roughly gauge the
fundamental health of the company.
EPS Growth > 0: Pass
Tests whether average earnings in the most recent years are higher
than average earnings in previous years.
Revenue Growth > 0: Fail
Tests whether average revenue in the most recent years is higher than
average revenue in previous years.
Five Year Avg. ROE > 5%: Pass
ROE = 5% means that a company earns 5 cents on every dollar
invested by shareholders. BT's 5 yr. avg ROE is 664.4%.
The fundamental score is ten basic pass/fail tests which together
give a sense of whether has a strong foundation to pay its bills
and survive. It is helpful for identifying bad companies, but does not
predict market-beating returns.
Look for scores of 7 or higher to avoid bad companies, and look at
individual pass/fail marks to find possible problem points for deeper
investigation.
Watch out for failed Fundamental Checks - if a company fails one,
check some of its peer companies to see if they fail too (eg, many tech
stocks do not pay dividends). If a company is different than its peers,
find out why.
Portfolios of companies with scores below 5 tend to perform very
poorly. Portfolios of companies with scores of 5-6 underperform the
S&P 500 slightly, but can have major winners and losers, so they
should be considered carefully. Portfolios of companies with scores of 7
or higher tend to match the S&P 500 over long periods.

10 Yr. Min Gross Margin > 0: Pass

Historical Results
If a company fails this test, it has sold its goods or services below cost
in a given year. 6% of companies currently pass this test. This chart shows value of $1 invested in portfolios with various
Fundamental Score, based on historical tests.
Book Value per Share Growth > 0: Fail
Shrinking book value is often a negative sign since it is associated with
shrinking assets.

Current Ratio > 1: Fail

Checks whether a company can cover its current liabilities with its
current assets. BT's Current Ratio is 0.7548.

D/E Ratio < 13: Pass

Companies that take on heavy levels of debt can become insolvent.
Look at those levels carefully. BT has a D/E Ratio of 3.28.

Long Term Avg. Cash Flow > 0: Pass

BT has earned an average of 7.167B over the past 10 years or the life Fundamental score of companies in portfolio.
of the company (whichever is shorter). 7 to 10 0 to 4
5 to 6 S&P 500
Long Term Debt < 5 x Net Income: Pass
Companies that pass this test essentially can pay off their debt in 5
years. BT long term debt is 4.223 times average net income.

Never Missed a Dividend Payment: Pass

Companies that are worried about earning power cannot pay dividends.
BT has consistently paid dividends over the past 10 years or the life of
the company (whichever is shorter).
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Pro Valuation from Historical Multiples

17.38% under Valuation from Historical Multiple

Last Price 1/18/2017 20:00 23.74

Valuation (Historical Mult.) 28.73
PE Method 26.99
PS Method 30.47

BT's price is 17.38% under its historical valuation. YCharts recommends looking for recent developments that
caused the market to be pessimistic.

Valuation Method Details About the Valuation from Historical Multiples

Below are the detailed calculations that comprise the valuation.
PE Method 26.99
This valuation method corrects for recent price changes by assuming
that a company has a 'natural' PE Ratio based on history. It will
generally show companies experiencing bad times relative to the recent
past as undervalued and companies that have performed strongly
relative to the recent past as overvalued.
PE Ratio (5 year avg) x Earnings per Share = PE Method Val.
12.33 2.190
PS Method 30.47
Price to Sales multiples are attractive for valuation because sales
figures tend to be more stable than earnings. This means that
valuations fluctuate less year-to-year with a PS multiple than a PE
multiple. Still, be skeptical of this valuation when a company has
experienced stellar recent growth.
The Valuation from Historical Multiples compares the current
valuation of the stock to the same company's historical valuation.
For example, If investors used to pay $15 for $1 of earnings but now
only pay $10 for $1 of earnings, the company looks undervalued
relative to its past.
It can be used as a reality check and reason to dig deeper into the
news about a company. If a company is valued differently today than it
was in the past, there must be a good reason. If you cannot find a
convincing reason, consider making a purchase or sale.
Watch out for companies with extremely positive or negative recent
26.99
news, or companies with earnings or sales that frequently fluctuate. For
such companies, earnings and sales multiples are unreliable
measurements of valuation.
For companies with temporary shocks affecting the current price, it
will correctly predict when stocks are undervalued. When shocks
affecting the current price are permanent, it will incorrectly predict
valuations.

PS Ratio (3 year avg) x Sales per Share = PS Method Val.

1.856 16.42 30.47

Valuation from Historical Multiples 28.73

The fair value estimate is the average of the two valuations above.

PE + PS = Sum ÷ # of = Val (Hist.

26.99 30.47 57.46 valuations Mult.)
2 28.73
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Performance
Historical performance is a good guide for the future, but it is imperfect. Pay attention to a company's history, but be realistic about what you can
project into the future.

Earnings Yield vs Dividend Yield 5 Year Total Returns Performance

Yields show how much you are getting for the price you pay. For Returns from price appreciation only give a partial view of the returns to
example, an earnings yield of 8% means that for every dollar you pay, an investor. This total returns chart shows the returns to an investor
you get 8 cents worth of current earnings. Take these numbers into from both price appreciation and dividends (dividends are assumed to
account when buying to see if you are over-paying or getting a good be reinvested).
deal. Price 23.74
Earnings Yield (TTM) 9.22% Total Return Price 23.74
Dividend Yield (TTM) 3.95%

Price vs Earnings
Reinvestment Strategy
In the long run, the price and earnings of a company are correlated. If
Return on Invested Capital (ROIC) tells you how much income a the two metrics are diverging, there should be a good reason why.
company earned after investing $1 in its business. The Payout Ratio Divergence without reason can signal danger or opportunity.
tells what percentage of the company's income it pays to shareholders Price 23.74
instead of reinvesting in its own growth. Watch out for companies that EPS Diluted (TTM) 2.190
pay out very little when their ROIC is low.
Return on Invested Capital (TTM) 17.19%
Payout Ratio (TTM) 41.11%

Revenue and Earnings Growth

Revenues show how much the company is selling to customers, while

Efficient Use of Assets net income is what remains for shareholders after the company pays its
expenses. Revenue growth often persists over time, but net income is
Profit margins show what percentage of every dollar of sales turns into more fickle. Watch closely to see if revenue and income grow at similar
earnings. Asset Utilization shows how many dollars of sales a company rates.
gets for each dollar that the company invests in assets. Multiplying the Revenue (TTM) 30.23B
two numbers together gives you Return on Assets which tells you Net Income (TTM) 3.948B
approximately how efficiently the company invests money to earn more
money.
Profit Margin (Quarterly) 10.18%
Asset Utilization (TTM) 0.6363
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Valuation
No matter how good a company is, if the price that you pay to buy it is too high, you won't make much money. These valuation metrics should give
you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.

Price Multiples Enterprise Value Multiples

Price Multiples show how much you get for the price you pay. They can Enterprise Value (EV) multiples tell you would get if you were to buy the
fluctuate drastically over time. Looking at price multiples over time and whole company (including paying off all debt). Similar to price multiples,
comparing to those of competitors will help to triangulate a reasonable they can be compared across time and with peers.
valuation.

Price to Sales Ratio EV / EBITDA

Tells you how much you are paying for one dollar of sales. Tells you how much you pay for one dollar of earnings before interest,
BT 1.446 LBTYA 1.835 taxes, depreciation and amortization if you were buying the whole
VOD 1.260 SKYAY 1.196 company.
BT 6.454 LBTYA 9.037
VOD 17.97 SKYAY 10.21

Price to Earnings Ratio

Tells you how much you are paying for one dollar of earnings.
EV / Revenue
BT LBTYA
VOD SKYAY Tells you how much you pay for one dollar of sales if you were buying
the whole company.
BT 2.054 LBTYA 3.930
VOD 2.089 SKYAY 1.690

Price to Book
Tells you how much you are paying for one dollar of net assets (net
assets is total assets - total liabilities).
EV / EBIT
BT 3.461 LBTYA 4.064
VOD 0.8329 SKYAY 4.544 Tells you how much you pay for one dollar of earnings before interest
and taxes if you were buying the whole company.
BT 11.49 LBTYA 31.88
VOD SKYAY 20.48
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Competitors
Comparing a company's operating statistics to those of competitors helps you to benchmark performance. While excellent for detecting competitive
strengths and weaknesses, consider carefully if there are short-term or long-term trends affecting the whole industry.

1 Year Total Returns Comparison Management Effectiveness

This total returns chart shows the returns to an investor from both price BT VOD LBTYA SKYAY
appreciation and dividends (dividends are assumed to be reinvested). Receivables Turnover (Quarterly) 1.788 3.377
Here are BT Group's total returns compared to the market and some of Return on Equity (TTM) 55.17% -9.44% -5.38% 21.72%
its peers. High historical total returns are excellent- especially if you Return on Assets (TTM) 8.31% -4.69% -0.85% 4.14%
held the stock at the time - but returns can change direction quickly. To Return on Invested Capital (TTM) 17.19% -5.57% -1.05% 5.98%
predict future performance, looking at the business is more important
than looking at historic returns.
BT -25.58% Stock Price Performance
VOD -11.29%
LBTYA 4.13% BT VOD LBTYA SKYAY
SKYAY -15.93% Beta (5Y) (4) 1.114 0.5448 1.723 0.8779
1 Month Price Returns (Daily) 2.02% 2.89% 13.29% -0.86%
Year to Date Price Returns (Daily) 3.08% 6.30% 12.88% 0.08%
1 Year Price Returns (Daily) -28.30% -15.65% 4.13% -18.77%
3 Year Price Returns (Daily) -24.49% -63.89% -60.67% -11.60%

Income Statement

BT VOD LBTYA SKYAY

Revenue (TTM) 30.23B 56.46B 17.36B 17.65B
Y-Ratings Revenue (Quarterly YoY Growth) 24.21% 0.91% 0.57% 26.63%
BT VOD LBTYA SKYAY EBITDA (TTM) 9.625B 6.562B 7.549B 2.922B
Y-Rating Attractive Unrated Neutral Unrated
Value Score 9/10 N/A 1/10 N/A Balance Sheet
Fundamental Score 7/10 6/10 5/10 7/10
Valuation from Hist. Mult. 17.38% N/A 23.59% N/A BT VOD LBTYA SKYAY
Cash and Short Term Investments 3.886B 15.22B 506.10M 3.162B
(Quarterly)
Current Valuation
Book Value (Per Share) (MRQ) 6.858 31.18 8.465 10.80
BT VOD LBTYA SKYAY Tangible Book Value (Per Share) -3.530 9.278 -14.42 -17.89
Market Cap (1) 47.30B 68.97B 31.30B 21.08B Book Value (Quarterly) (MRQ) 13.66B 82.81B 7.700B 4.640B
Enterprise Value 62.12B 117.92B 68.22B 29.82B Tangible Book Value (Quarterly) -7.032B 24.64B -13.12B -7.689B
PE Ratio (TTM) (2) Shares Outstanding (MRQ) 1.992B 2.656B 906.33M 429.75M
PEG Ratio (TTM) 2.173 Debt to Equity Ratio (Quarterly) 1.369 0.7516 4.928 2.566
PS Ratio (TTM) (3) 1.446 1.260 1.835 1.196 (MRQ) (5)
Price to Book Value 3.461 0.8329 4.064 4.544 Current Ratio (Quarterly) (MRQ) 0.7548 0.8934 0.3467 1.087
EV to EBITDA (TTM) 6.454 17.97 9.037 10.21 Total Assets (Quarterly) 58.48B 175.38B 66.89B 23.44B
EV to EBIT (TTM) 11.49 31.88 20.48 Total Liabilities (Quarterly) 44.82B 92.57B 59.19B 18.80B
Operating Earnings Yield (TTM) (2) 13.03% 7.40% 6.85%
Dividend Yield (TTM) (2) 3.95% 5.88% 0.00 3.54% Notes About Statistics:
TTM: Trailing twelve months
Profitability EBITDA: Earnings before interest, taxes, depreciation and amortization
EBIT: Earnings before interest and taxes
BT VOD LBTYA SKYAY MRQ: Most recent quarter
Profit Margin (Quarterly) (MRQ) 10.18% -3.89%
Operating Margin (TTM) 18.85% -8.06% 13.58% 8.19% 1 Shares outstanding from most recent quarter, current price as of
EBITDA Margin (TTM) 31.84% 11.62% 43.49% 16.56% report creation
2 TTM financial data, current price as of report creation
Asset Utilization (TTM) 0.6363 0.3079 0.2609 0.7421
3 MRQ financial data, current price as of report creation
Gross Profit Margin (Quarterly) 16.10% 63.80%
4 Calculated using 60 months of monthly returns, or the life of the stock,
(MRQ)
whichever is shorter (no calculations made for stocks with lives shorter
than 36 months)
5 Equity taken at book value
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Income Statement

Revenue (TTM): 30.23B Total Expenses (TTM): 24.54B Net Income (TTM): 3.948B

Income 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Operating Revenue 7.856B 7.327B 7.415B 7.079B 7.138B 6.678B 6.910B 7.034B 7.996B 8.295B
Revenue 7.856B 7.327B 7.415B 7.079B 7.138B 6.678B 6.910B 7.034B 7.996B 8.295B
Cost of Goods Sold -16.22B 6.084B 4.897B 5.654B -14.06B 5.432B 4.554B 5.500B -13.12B 6.960B
Gross Profit 24.08B 1.244B 2.518B 1.425B 21.20B 1.247B 2.355B 1.534B 21.12B 1.336B
Special Income and Charges -100.17M 9.297M
Total Operating Expenses 1.219B 1.096B
Operating Income 1.588B 1.244B 1.299B 1.425B 1.610B 1.247B 1.260B 1.534B 1.570B 1.336B
Non-Operating Interest Income 3.309M 5.049M 6.678M 6.328M 9.095M 9.190M 4.649M 37.92M 4.295M 5.746M
Non-Operating Interest Expense -59.56M 371.91M 367.30M 332.21M -174.31M 295.63M 268.07M 266.96M -40.08M 301.65M
Net Non-Operating Interest 62.87M -366.87M -360.62M -325.89M 183.41M -286.44M -263.43M -229.04M 44.38M -295.91M
Income Expense
Non-Operating Income -415.30M 42.07M 1.670M -1.582M -516.88M 7.659M -1.550M 3.034M -336.41M -10.06M
Other Income and Expenses -415.30M 42.07M 1.670M -1.582M -516.88M 7.659M -1.550M 3.034M -336.41M -10.06M
Net Interest Income 62.87M -366.87M -360.62M -325.89M 183.41M -286.44M -263.43M -229.04M 44.38M -295.91M
Pre-Tax Income 1.236B 918.85M 939.96M 1.098B 1.276B 968.06M 994.82M 1.308B 1.278B 1.030B
Provision for Income Taxes 299.48M 176.70M 195.34M 215.15M 230.40M 185.34M 181.30M 100.11M 196.12M 185.30M
Income from Continuing Operations 936.49M 742.15M 744.62M 882.74M 1.046B 782.72M 813.52M 1.207B 1.082B 844.63M
Net Income 936.49M 742.15M 744.62M 882.74M 1.046B 782.72M 813.52M 1.207B 1.082B 844.63M
Normalized Income 1.299B 705.24M 823.45M 882.74M 1.462B 782.72M 821.08M 1.207B 1.370B 844.63M
EBITDA 2.254B 2.388B 2.339B 2.408B 2.087B 2.226B 2.228B 2.472B 2.365B 2.560B
Reconciled Depreciation 1.077B 1.097B 1.032B 977.66M 985.25M 961.94M 965.38M 897.96M 1.127B 1.228B
EBIT 1.176B 1.291B 1.307B 1.430B 1.102B 1.264B 1.263B 1.574B 1.238B 1.332B

Basic EPS 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
EPS Basic from Continuing 0.5957 0.4712 0.4675 0.5458 0.6366 0.4672 0.4881 0.7205 0.5726 0.4237
Operations
Normalized Basic EPS 0.8256 0.4477 0.5166 0.5458 0.8880 0.4672 0.4926 0.7205 0.7258 0.4237
EPS Basic 0.5957 0.4712 0.4675 0.5458 0.6366 0.4672 0.4881 0.7205 0.5726 0.4237

Diluted EPS 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
EPS Diluted from Continuing 0.5708 0.4544 0.4591 0.5379 0.6290 0.4595 0.4804 0.7129 0.5726 0.4237
Operations
Normalized Diluted EPS 0.7926 0.4318 0.5077 0.5379 0.8764 0.4595 0.4848 0.7129 0.7168 0.4237
EPS Diluted 0.5708 0.4544 0.4591 0.5379 0.6290 0.4595 0.4804 0.7129 0.5726 0.4237

Shares Data 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Average Basic Shares Outstanding 1.576B 1.571B 1.605B 1.624B 1.655B 1.666B 1.668B 1.671B 1.876B 1.987B
Average Diluted Shares Outstanding 1.635B 1.633B 1.622B 1.641B 1.682B 1.703B 1.694B 1.694B 1.994B 1.987B
Dividend Per Share 0.000 0.000 0.6235 0.3039 0.000 0.000 0.6561 0.3233 0.000 0.000
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Balance Sheet

Total Assets (Quarterly): 58.48B Total Liabilities (Quarterly): 44.82B Shareholders Equity (Quarterly): 13.66B

Assets 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Cash 632.51M 496.07M 576.28M
Cash and Equivalents 1.157B 1.044B 1.052B 922.98M 642.67M 1.986B 734.97M 527.41M 714.24M 655.58M
Short Term Investments 2.953B 2.786B 1.871B 3.378B 5.217B 2.900B 2.025B 3.522B 4.193B 3.231B
Cash and Short Term Investments 4.110B 3.830B 2.923B 4.300B 5.860B 4.886B 2.760B 4.049B 4.908B 3.886B
Accounts Receivable 2.280B 2.153B 2.693B
Other Receivables 356.20M 5.431B 5.277B 5.035B 549.38M 5.218B 5.042B 4.810B 546.10M 5.859B
Total Receivables 2.680B 5.464B 5.314B 5.071B 2.799B 5.320B 5.140B 4.907B 3.333B 5.946B
Raw Materials Inventory 37.02M 37.36M
Work in Process Inventory 14.81M 15.81M
Finished Goods Inventory 87.37M 218.44M
Other Inventory 0.000 0.000
Inventories 136.49M 163.50M 188.39M 160.32M 139.20M 166.69M 169.72M 149.63M 271.61M 290.77M
Prepaid Expenses 845.57M 747.80M 1.058B
Other Current Assets 1.726B 585.89M 553.80M 347.09M 1.518B 529.93M 936.52M 638.53M 2.120B 818.47M
Total Current Assets 9.498B 10.04B 8.979B 9.879B 11.06B 10.90B 9.006B 9.744B 11.69B 10.94B
Land and Improvements 1.982B 1.676B 1.837B
Machine, Furniture & Equipment 75.02B 66.87B 69.27B
Other Properties 3.312B 2.805B 2.835B
Construction in Progress 1.082B 780.38M 1.592B
Gross PP&E 81.40B 72.13B 75.53B
Accumulated D&A -58.36B -52.13B -52.53B
Net PP&E 23.04B 23.36B 22.13B 21.14B 20.00B 21.32B 20.62B 20.19B 23.01B 21.70B
Goodwill 2.215B 2.067B 11.32B
Other Intangible Assets 2.923B 5.149B 4.955B 4.797B 2.627B 4.821B 4.661B 4.566B 10.86B 20.70B
Goodwill and Intangibles 5.138B 5.149B 4.955B 4.797B 4.694B 4.821B 4.661B 4.566B 22.18B 20.70B
Long Term Investments 86.55M 93.67M 97.44M 105.84M 103.66M 97.50M 95.47M 94.82M 100.60M 86.15M
Derivative Instruments 897.17M 858.40M 1.067B 1.455B 1.824B 1.360B 1.703B 1.763B 2.101B 2.761B
Long Term Deferred Assets 2.430B 2.499B 2.384B 2.441B 2.309B 2.305B 2.152B 1.652B 1.792B 1.967B
Other Long Term Assets 356.20M 349.15M 240.36M 235.03M 272.47M 279.90M 272.77M 280.00M 334.84M 331.16M
Total Long Term Assets 31.95B 32.31B 30.88B 30.18B 29.20B 30.18B 29.50B 28.54B 49.52B 47.54B
Total Assets 41.44B 42.35B 39.85B 40.06B 40.26B 41.08B 38.51B 38.29B 61.21B 58.48B

Liabilities 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Accounts Payable 4.569B 4.198B 6.118B
Current Tax Payable 798.96M 533.09M 264.72M 392.23M 944.75M 345.95M 437.95M 493.34M 1.370B 364.81M
Other Payables 907.15M 8.833B 8.078B 7.865B 792.23M 7.965B 7.962B 7.711B 715.68M 9.911B
Total Payables 6.275B 9.366B 8.343B 8.257B 5.935B 8.311B 8.400B 8.205B 8.203B 10.28B
Accrued Expenses 739.04M 613.05M 600.71M
Payables and Accrued Expenses 7.014B 9.366B 8.343B 8.257B 6.548B 8.311B 8.400B 8.205B 8.804B 10.28B
Current Provisions - Legal & Other 164.79M 168.61M 199.76M 172.77M 210.27M 220.15M 207.61M 158.52M 245.74M 238.27M
Commercial Paper Liability 539.30M
Other Current Borrowings 2.555B
Current Portion of Long Term Debt 3.094B 2.185B 2.724B 2.704B 2.814B 3.203B 1.490B 2.382B 4.652B 3.929B
Current Capital Lease Obligation 23.30M
Current Debt & Capital Lease 3.118B 2.185B 2.724B 2.704B 2.814B 3.203B 1.490B 2.382B 4.652B 3.929B
Obligation
Current Deferred Revenue 1.743B 1.593B 2.061B
Current Deferred Liabilities 1.743B 1.593B 2.061B
Other Current Liability 755.68M 233.33M 186.77M 115.18M 248.77M 316.07M 93.95M 28.15M 68.98M 53.85M
Total Current Liabilities 12.80B 11.95B 11.45B 11.25B 11.41B 12.05B 10.19B 10.77B 15.83B 14.50B
Long Term Provisions - Legal & 722.39M 708.52M 685.35M 630.37M 624.90M 640.01M 574.34M 571.86M 793.28M 712.12M
Other
Non-Current Portion of Long Term 12.80B 13.94B 12.28B 12.04B 11.65B 11.41B 11.22B 10.11B 15.85B 14.78B
Debt
Long Term Cap Lease Obligation 416.12M
Non-Current Portion of LTD and 13.22B 13.94B 12.28B 12.04B 11.65B 11.41B 11.22B 10.11B 15.85B 14.78B
Capital Lease Obligation
Long Term Deferred Tax Liabilities 1.380B 1.398B 1.561B 1.458B 1.404B 1.458B 1.447B 1.301B 1.814B 1.737B
Non-Current Deferred Revenue 88.22M
Non-Current Deferred Liabilities 1.468B 1.398B 1.561B 1.458B 1.404B 1.458B 1.447B 1.301B 1.814B 1.737B
Pension Liability 11.69B 12.26B 11.85B 12.29B 11.23B 11.24B 10.54B 8.679B 9.172B 10.20B
Derivative Contract Liabilities 1.130B 1.165B 1.151B 1.337B 1.373B 1.313B 1.290B 1.157B 1.240B 1.294B
Other Long Term Liabilities 1.407B 1.536B 1.463B 1.426B 1.373B 1.620B 1.564B 1.536B 1.588B 1.595B
Total Long Term Liabilities 29.63B 31.01B 28.99B 29.18B 27.65B 27.68B 26.64B 23.35B 30.46B 30.32B
Total Liabilities 42.43B 42.96B 40.45B 40.43B 39.07B 39.73B 36.83B 34.12B 46.29B 44.82B

Shareholder's Equity 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Total Capital Stock 679.12M 694.89M 662.62M 635.04M 620.46M 658.88M 634.95M 620.75M 717.11M 671.74M
Retained Earnings -2.796B -2.935B -2.540B -2.676B 1.985B -240.00M -718.85M
Additional Paid In Capital 103.20M 1.556B 1.653B 1.593B 1.557B 1.510B 1.415B
Treasury Stock 1.380B
Shareholders Equity -985.38M -611.44M -592.78M -375.11M 1.196B 1.355B 1.676B 4.163B 14.92B 13.66B
YCharts Stock Report | Jan 19, 2017 05:09AM ET

BT Group PLC (BT)

Cash Flow

Cash from Operations (Quarterly): 1.916B Cash from Investing (Quarterly): -254.25M Cash from Financing (Quarterly): -1.727B

Cash Flow - Operations 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Gain/Loss on Sale Business -4.856M -42.07M -1.337M 5.441M 39.58M 0.000 0.000
Gain (Loss) on Investment Securities -12.66M 12.66M 0.000
Earnings Loss from Eq. Investments 6.270M 0.000 -1.670M 1.670M -38.73M -7.659M 1.460M -2.903M 0.0587M 10.06M
Operating Gains Losses 1.414M -42.07M -3.006M -5.545M 13.50M -7.659M 1.460M -2.903M 0.0587M 10.06M
Total Depreciation and 974.88M 1.097B 1.023B 866.42M 1.109B 961.94M 976.57M 857.01M 1.168B 1.228B
Amortization
Total Depreciation, Amortization, 974.88M 1.097B 1.023B 866.42M 1.109B 961.94M 976.57M 857.01M 1.168B 1.228B
Depletion
Stock Based Compensation -79.31M 30.29M 29.81M 25.32M -85.43M 29.10M 20.48M 20.19M -69.77M 24.42M
Other Noncash Items 1.296B 30.29M 29.81M 25.32M 1.270B 29.10M 20.48M 20.19M 1.064B 24.42M
Changes in Working Capital 311.28M -928.95M -416.72M 368.01M -466.82M -817.95M -241.95M 304.52M -706.45M -522.86M
Cash from Operations 2.448B 1.343B 1.801B 2.477B 2.120B 444.21M 1.934B 2.528B 2.898B 1.916B

Cash Flow - Investing 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Net Change in Capital Expenditures -816.46M -896.97M -862.74M -792.01M -1.351B -961.94M -936.28M -847.24M -970.92M -1.021B
Sale of PPE 4.563M 5.049M -0.0399M -5.009M 161.39M 3.063M 3.135M -6.198M 10.55M 0.000
Net Change in PP&E -811.89M -891.92M -862.78M -797.01M -1.189B -958.87M -933.14M -853.44M -960.37M -1.021B
Net Divestitures (Acquisitions) -5.831M 38.71M -1.976M -19.33M -1.262M -1.532M -1.567M -4.485M -5.085B -5.746M
Total Net Change in Investments -1.440B 230.55M 804.57M -1.666B -2.219B 2.566B 834.06M -1.649B -746.73M 768.49M
Net Other Investing Changes 1.443M 3.366M 3.312M 4.396M 5.066M 30.63M 3.455M 2.313M 4.286M 4.309M
Cash from Investing -2.256B -619.30M -56.87M -2.478B -3.405B 1.636B -97.19M -2.505B -6.788B -254.25M

Cash Flow - Financing 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Net Change in Long Term Debt 918.27M 289.45M -771.96M -66.44M 456.95M -730.64M -1.340B 137.78M 4.674B -1.189B
Net Change in Short Term Debt -413.42M -568.81M 4.500M 29.60M -10.81M 0.000 0.000
Net Debt Issuance 487.05M -279.36M -767.46M -36.84M 446.14M -730.64M -1.340B 137.78M 4.674B -1.189B
Common Stock Issuance 23.70M 6.731M 313.82M -12.07M 1.630B 3.063M 125.55M 1.834M 5.187M 5.746M
Common Stock Payments -110.94M -237.28M -91.62M -65.01M -122.55M -289.50M -97.89M -44.91M -42.42M -252.81M
Net Common Equity Issued -87.24M -230.55M 222.21M -77.08M 1.507B -286.44M 27.66M -43.07M -37.24M -247.07M
(Purchased)
Total Dividends Paid -409.41M -1.683M -1.007B 46.57M -529.44M -1.532M -1.091B 15.49M -543.13M -4.309M
Cash from Other Financing Activities 223.54M -348.35M -145.84M -16.79M -441.25M -505.48M 113.44M -343.62M 16.80M -285.85M
Cash from Financing 213.93M -859.95M -1.698B -84.13M 982.76M -1.524B -2.289B -233.42M 4.110B -1.727B

Ending Cash 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Beginning Cash 721.92M 1.151B 1.006B 1.053B 909.63M 623.42M 1.166B 726.75M 515.72M 659.33M
Change in Cash 405.55M -136.31M 46.16M -85.44M -302.13M 556.02M -452.20M -210.00M 220.71M -64.64M
Cash Foreign Exchange Adjustment -13.43M -8.414M 10.08M 1.494M 27.50M -13.79M 6.038M 12.30M -40.72M 35.91M
Ending Cash 1.087B 1.006B 1.053B 909.63M 656.87M 1.166B 726.75M 515.72M 691.73M 630.60M

Additional Items 2014-03 2014-06 2014-09 2014-12 2015-03 2015-06 2015-09 2015-12 2016-03 2016-06
Issuance of Capital Stock 23.70M 6.731M 313.82M -12.07M 1.630B 3.063M 125.55M 1.834M 5.187M 5.746M
Issuance of Debt 1.366B -10.81M -1.356B 1.311B 0.000 1.550M -1.550M 4.556B 2.873M
Debt Repayment -1.409M -1.062B -859.77M 88.16M -48.35M -730.64M -1.239B 35.54M 0.4157M -563.08M
Repurchase of Capital Stock -110.94M -237.28M -91.62M -65.01M -122.55M -289.50M -97.89M -44.91M -42.42M -252.81M
YCharts Stock Report | Jan 19, 2017 05:09AM ET
BT Group PLC (BT)
The YCharts Rating System
How it Works
The Rating system involves three key elements that combine together
to create one attractiveness rating - the Y-Rating. To see how those
elements work, take some time to look through the key indicators: Value
Score (p.2), Fundamental Score (p.3), Valuation from Historical
Multiples (p.4)
The Y-Rating
The Y-Rating is a single summary score that takes into account our 3
key indicators: Value Score, Fundamental Check, and Valuation
(Historical Multiples). In a glance, it will give you a sense of the safety
and return possibility of the stock.
Be aware that it will often miss stocks with a huge potential for gains
because big gains are correlated with high risk. Also, it sometimes
misses the decline of industries which were profitable for long periods of
time.
To receive an overall "Attractive" rating, a stock must:
• Receive a Value Score of 9 or 10
• Receive a Fundamental Check score of 7 or higher
• Have a Historical Value greater than its current price
To receive an overall "Avoid" rating, a stock only needs to have
"Weak" fundamentals - a Fundamental Check score of 4 or lower.
We rate all other companies "Neutral," since based on our testing we
do not have strong quantitatively-backed reason to believe that they will
underperform or outperform the market significantly as part of a
portfolio
Why Ratings are Different From Analysts
Some YCharts followers are concerned that our attractiveness ratings
sometimes disagree with those of analysts and their own perceptions.
First, consider the record of analysts. There is a great deal of
research showing that analysts are overly optimistic about the stocks
that they cover. Consider the image below, which shows the
percentage of stocks in the S&P 500 with a mean rating of "Sell" or
"Hold/Sell." As you can see, the numbers never top 10%, meaning that
analysts rated more than 90% of stocks "Hold," "Hold/Buy" or "Buy" at
all times during the past 14 years.
Percent of S&P 500 stocks with mean analyst rating of 'Sell' or
'Hold/Sell'
That might be alright if analysts consistently picked winners in their
"Buy" category. There is some evidence that top analysts can pick
winners, but those analysts are rare, and finding them is arguably as
difficult as finding winning stocks.
Further, there is strong evidence from scholarly research that
analysts are over-optimistic about future prices and long term growth
rates.
Our system, on the other hand, was built based on intensive study
and rigorous testing. We searched for relationships between stock
prices and company financials that predicted returns over long periods
of time. We documented predictive relationships and can now direct
you to companies that look similar to those that historically grew in
value. While there is no way to guarantee that what worked in the past
will work equally well in the future, we view it as the best possible
starting point.