Restaurant Group Plc (The) (RTN:LN)

Restaurant Group plc (The) (RTN:LN)

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Business Description and Key Statistics

The Restaurant Group is engaged in the operation of restaurants Current YTY % Chg and pub restaurants. Co.'s principal trading brands are Wagamama, Frankie & Benny's, Chiquito and Coast to Coast. Co. Revenue LFY (M) 460 -57.2 also operates Pub restaurants and a Concessions business which EPS Diluted LFY -0.21 -100.0 trades principally at United Kingdom airports. Market Value (M) 643 Shares Outstanding LFY (000) 589,729 Book Value Per Share 0.53 EBITDA Margin % 3.00

Net Margin % -23.5 Website: www.trgplc.com Long-Term Debt / Capital % 55.0 ICB Industry: Consumer Discretionary Dividends and Yield TTM 0.00 - 0.00% ICB Subsector: Restaurants and Bars Payout Ratio TTM % 0.0 Address: 5-7 Marshalsea Road London 60-Day Average Volume (000) 1,812 GBR 52-Week High & Low 139.60 - 40.50 Employees: 16,268 Price / 52-Week High & Low 0.78 - 2.69

Price, Moving Averages & Volume

144.6 144.6 Restaurant Group plc (The) is currently trading at 109.00 which is 7.3% below its 50 day 130.9 130.9 moving average price of 117.54 and 0.8% above its 117.3 117.3 200 day moving average price of 108.11.

103.7 103.7 RTN:LN is currently 21.9% below its 52-week high price of 139.60 and is 169.1% above 90.1 90.1 its 52-week low price of 40.50. Over the past 52-weeks, 76.4 76.4 RTN:LN is up 131.1% while on a calendar year-to-date basis it is up 69.8%. 62.8 62.8 The Relative Strength Index (RSI) indicator for RTN:LN is 49.2 49.2 currently 41.77. An RSI value of 70 and above is considered 35.5 35.5 overbought and 30 and below 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21 oversold. Volume (000) 35,068 35,068

26,301 26,301

17,534 17,534

8,767 8,767 Mean (3174.86) 0 0 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21

Price Price (50-Day Simple Moving Average) Price (200-Day Simple Moving Average)

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.93 1.41 50-Day Average Price 117.54 1-Week % -5.22 -5.48 Price / 50-Day Average 0.93 4-Week % -10.66 -9.24 200-Day Average Price 108.11 52-Week % 131.13 106.78 Price / 200-Day Average 1.01 RSI - Relative Strength Index 41.77 Quarter-to-Date % -14.98 -16.11

Year-to-Date % 69.78 59.56 Risk Metrics Last Month % 5.05 3.13 Price Volatility 6.00 Last Quarter % 4.65 -0.02 Sharpe Ratio -0.02 Last Calendar Year % -60.61 -47.62 Sortino Ratio -0.04

5-Year Price Performance vs. FTSE 350

Restaurant Group plc (The) Current: 0.28 CAGR: -22.3% Over the past five years, FTSE 350 Index Current: 1.18 CAGR: 3.4% Restaurant Group plc (The)'s stock price is down 71.6% 1.3 1.3 which is 90.0% below the FTSE 350 Index performance of 18.4% over the same 1.2 ^NMX:LN 1.2 period. Restaurant Group plc (The)'s cumulative annualized 1.1 1.1 growth rate (CAGR) over the five year period has been -22.3% while that of the FTSE 1.0 1.0 350 Index has been 3.4%.

Over the past year, Restaurant 0.9 0.9 Group plc (The)'s stock price performance of 131.1% has 0.8 0.8 outperformed that of the FTSE 350 Index by 106.8%. On a year-to-date basis, Restaurant 0.7 0.7 Group plc (The)'s stock price performance of 69.8% has 0.5 0.5 outperformed the FTSE 350 Index by 59.6%.

0.4 0.4 Over the past week, Restaurant Group plc (The)'s stock price performance of 0.3 0.3 -5.2% has underperformed RTN:LN that of the FTSE 350 Index by 0.2 0.2 5.5%.

0.1 0.1

0.0 0.0 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % -12.2 -7.7 -0.1 Gross Margin % -9.4 4.3 11.1 Revenues Per Share % -35.5 -23.3 -9.1 EBITDA Margin % 3.0 5.5 11.8 EBITDA % -44.6 -35.8 -16.6 Pre-Tax Margin % -27.6 -3.0 4.7 EPS Diluted % -100.0 -100.0 -100.0 Net Margin % -23.5 -2.8 3.3 Free Cash Flow % -100.0 -100.0 -100.0 Return on Equity % -28.6 -4.3 11.7 Cash from Operations % -99.9 -99.9 -99.9 Return on Capital % -15.1 -1.7 10.1 Book Value % -19.4 -17.8 -3.1 Return on Assets % -9.5 -1.3 6.6

Revenue (M) Restaurant Group plc (The)'s cumulative annualized revenue Current: 459.77 Median: 686.05 High: 1073.05 Low: 459.77 CAGR: -10.3% growth rate over the charted 1,195.7 1,195.7 1,073.1 period is -10.3%. This compares to cumulatative 940.2 940.2 annualized growth of -12.2% over the past 3 years. 710.7 679.3 686.0 684.6 684.6 459.8 429.1 429.1 2016 2017 2018 2019 2020 2021 Restaurant Group plc (The)'s EPS Diluted cumulative annualized EPS Current: -0.21 Median: -0.08 High: 0.16 Low: -0.25 CAGR: -0.1% growth rate over the charted 0.24 0.24 period is -0.1%. This 0.16 compares to cumulatative 0.07 0.02 0.07 annualized growth of -100.0% over the past 3 years. -0.08 -0.10 -0.10 -0.20 -0.21 -0.27 -0.27 2016 2017 2018 2019 2020 2021

Net Profit Margin % Restaurant Group plc (The)'s net profit margin of -23.5% is Current: -23.49 Median: -1.25 High: 4.85 Low: -23.49 CAGR: -6.1% 20.7% below the period's 6.3 6.3 mean net margin of -2.8%. Mean (-2.78) During the charted period, the -4.1 -4.1 observed net profit margin high and low were 4.9% and -14.5 -14.5 -23.5% respectively.

-24.9 -24.9 2016 2017 2018 2019 2020 2021 Restaurant Group plc (The)'s Return on Equity % return on equity of -28.6% is Current: -28.60 Median: -3.85 High: 15.80 Low: -28.60 CAGR: -7.6% 24.3% below the period's 18.0 18.0 mean return on equity of -4.3%. During the charted 1.7 1.7 period, the observed ROE Mean (-4.28) high and low were 15.8% and -28.6% respectively. -14.5 -14.5

-30.8 -30.8 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Valuation Metrics

5-Year 10-Year 5-Year 10-Year Current Median Median Current Median Median

Price / EPS TTM 99.9 99.0 23.4 Earnings Yield % -17.55 -2.00 4.53

Price / Sales 1.2 0.8 1.2 Free Cash Flow Yield % 0.00 3.09 3.01

Price / Operating Cash Flow 99.9 16.8 12.9 Dividend Yield % 0.00 5.37 3.07

Price / Book Value 2.1 2.3 3.1 Enterprise Value / EBITDA 50.0 25.9 11.8

Price / EPS TTM Restaurant Group plc (The) is trading at 99.90 times its EPS Current: 99.90 Median: 99.90 High: 99.90 Low: 14.08 CAGR: 13.0% generated during the latest Median (99.90) 104.2 104.2 fiscal year. This multiple is equal to the historically 72.7 72.7 observed median of 99.90, while high and low observations have been 99.90 41.3 41.3 and 14.08.

9.8 9.8 2016 2017 2018 2019 2020 2021 Price / Sales Restaurant Group plc (The) is trading at a Price to Sales ratio Current: 1.20 Median: 0.78 High: 1.47 Low: 0.07 CAGR: 1.6% of 1.20 based on sales 1.54 1.54 generated during the latest fiscal year. This ratio is above 1.03 1.03 the historically observed Median (0.78) median ratio of 0.78, while high and low observations 0.51 0.51 have been 1.47 and 0.07.

0.00 0.00 2016 2017 2018 2019 2020 2021 Restaurant Group plc (The) is Price / Book Value trading at a Price to Book ratio Current: 2.06 Median: 2.27 High: 3.67 Low: 0.29 CAGR: -5.4% of 2.06 based on book value at 3.8 3.8 the latest fiscal year end. This ratio is below the historically observed median of 2.27, 2.6 2.6 Median (2.27) while high and low observations have been 3.67 1.4 1.4 and 0.29.

0.1 0.1 2016 2017 2018 2019 2020 2021 Restaurant Group plc (The) Free Cash Flow Yield % has a Free Cash Flow Yield of Current: 0.00 Median: 3.09 High: 8.85 Low: 0.00 CAGR: 0.0% 0.00% based on free cash flow 9.3 9.3 generated during the latest fiscal year. This value is below the historically observed 6.0 6.0 median yield of 3.09%, while high and low observations Median (3.09) 2.8 2.8 have been 8.85 and 0.00.

-0.4 -0.4 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Dividends Data

Dividends Per Share TTM 0.00 Payout Ratio TTM % 0.00% Dividend Yield TTM % 0.00%

Rate Ex Date Record Date Payment Date Currency Note 0.021 12-09-2019 13-09-2019 10-10-2019 GBP INTERIM GROSS 0.015 06-06-2019 07-06-2019 05-07-2019 GBP FINAL GROSS 0.068 13-09-2018 14-09-2018 11-10-2018 GBP INTERIM GROSS 0.106 07-06-2018 08-06-2018 05-07-2018 GBP FINAL GROSS 0.068 14-09-2017 15-09-2017 12-10-2017 GBP INTERIM GROSS 0.106 15-06-2017 16-06-2017 07-07-2017 GBP FINAL GROSS 0.068 15-09-2016 16-09-2016 13-10-2016 GBP INTERIM GROSS 0.106 16-06-2016 17-06-2016 06-07-2016 GBP FINAL GROSS

Dividend Growth and Yield

Dividends Per Share TTM Restaurant Group plc (The)'s trailing 12-month dividend per Current: 0.00 Median: 0.17 High: 0.17 Low: 0.00 CAGR: 0.0% share is 0.00 and its dividend 0.18 0.18 has grown at a cumulative annualized rate of 0.0% over 0.15 0.15 the charted period. This compares to dividend growth 0.12 0.12 of -100.00% over the past year and cumulative annualized growth of -100.00% over the 0.09 0.09 past 3 years.

0.05 0.05

0.02 0.02

-0.01 -0.01 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Restaurant Group plc (The)'s current dividend yield is 0.00% Current: 0.00 Median: 5.37 High: 15.48 Low: 0.00 CAGR: 0.0% based on trailing 12 month 16.25 16.25 dividends. The current yield is below the historically observed 13.42 13.42 median of 5.37% and, over the charted time period, the 10.58 10.58 observed high yield has been 15.48% and the observed low yield has been 0.00%. 7.74 7.74

4.90 4.90

2.06 2.06

-0.77 -0.77 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -29.8 -3.7 22.3 48.4 74.5 -70.9 -50.8 -30.8 -10.7 9.3

Restaurant Group plc (The) 69.8 Loungers PLC 5.7

Loungers PLC 28.9 Domino's Pizza Group PLC -1.3 -21.1 Domino's Pizza Group PLC 27.9 Do & Co AG Fuller, Smith & Turner PLC -27.2 Peer Group Average 14.8 Peer Group Average -31.3 Mitchells & Butlers Plc 11.4 Wetherspoon (J.D.) Plc -32.9 Fuller, Smith & Turner PLC 5.7 Young & Co's Brewery PLC -38.4 Marston's Plc 5.6 Marston's Plc -40.6 2.0 Do & Co AG Mitchells & Butlers Plc -47.7 Wetherspoon (J.D.) Plc -1.9 SSP Group PLC -48.9 SSP Group PLC -16.5 Restaurant Group plc (The) -60.6

-29.8 -3.7 22.3 48.4 74.5 -70.9 -50.8 -30.8 -10.7 9.3

Price / EPS TTM Price / Book Value 0.0 25.6 51.3 76.9 102.6 0.0 13.1 26.2 39.3 52.4

Restaurant Group plc (The) 99.9 Domino's Pizza Group PLC 49.9 SSP Group PLC 99.9 Sphera Franchise Group SA 49.9 Wetherspoon (J.D.) Plc 99.9 Peer Group Average 12.4 SSP Group PLC 11.5 Mitchells & Butlers Plc 99.9 Young & Co's Brewery PLC 5.9 Loungers PLC 99.9 Do & Co AG 5.3 Fuller, Smith & Turner PLC 99.9 Wetherspoon (J.D.) Plc 4.2 Do & Co AG 99.9 Fuller, Smith & Turner PLC 2.6 Marston's Plc 99.9 Loungers PLC 2.3 Peer Group Average 90.3 Restaurant Group plc (The) 2.1 Young & Co's Brewery PLC 58.1 Marston's Plc 2.0 Domino's Pizza Group PLC 45.9 Mitchells & Butlers Plc 0.7 0.0 25.6 51.3 76.9 102.6 0.0 13.1 26.2 39.3 52.4

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -115.2 -85.0 -54.9 -24.8 5.4 -35.6 -18.7 -1.7 15.2 32.1

Domino's Pizza Group PLC -2.2 Sphera Franchise Group SA 29.0

Peer Group Average -89.1 Domino's Pizza Group PLC 9.8 -3.6 Restaurant Group plc (The) -100.0 Wetherspoon (J.D.) Plc SSP Group PLC -4.8 SSP Group PLC -100.0 Peer Group Average -6.2 Wetherspoon (J.D.) Plc -100.0 Mitchells & Butlers Plc -6.8 Mitchells & Butlers Plc -100.0 Restaurant Group plc (The) -7.7 Young & Co's Brewery PLC -100.0 Marston's Plc -10.1 -100.0 Fuller, Smith & Turner PLC Young & Co's Brewery PLC -18.1 Do & Co AG -100.0 Do & Co AG -22.7 Marston's Plc -100.0 Fuller, Smith & Turner PLC -26.9

-115.2 -85.0 -54.9 -24.8 5.4 -35.6 -18.7 -1.7 15.2 32.1

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021 Abbreviations: CAGR - Cumulative annual growth rate. EBIT - Earnings before interest and taxes. EBITDA - Earnings before interest, taxes, depreciation & amortization. LFY - Last fiscal year M - Million LON - London Stock Exchange

Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 60-Day Average Volume (000) - The average of the last 60 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 50-Day Average Price - Mean of last 50 daily closing prices. 200-Day Average Price - Mean of last 200 daily closing prices. Price / 50-Day Average Price - Latest closing price divided by mean of last 50 daily closing prices, as a percentage. Price / 200-Day Average Price - Latest closing price divided by mean of last 200 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 30 or below may imply oversold and 70 or above may imply overbought. Price Volatility - The standard deviation of the last 20 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. Pre-Tax Margin % - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. Return on Equity % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1000 Index - The largest 1,000 stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at 999.9%. Revenue 5-Year Growth Rate % is capped at 999.9%.

Consumer Discretionary/Restaurants and Bars Price: 109.00 GBX Report Date: September 24, 2021

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