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CLS Holdings
(LSE:CLI)
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Rating:47Neutral
Price Target:
46.00 p
â–¼(-11.88% Downside)
Action:Reiterated
Date:03/15/26
The score is held down primarily by weak financial performance (persistent losses and elevated leverage for an office REIT) and bearish technicals (below all major moving averages with negative MACD). A high dividend yield and generally positive cash flow provide partial support but do not fully offset the profitability and trend concerns.
Positive Factors
Resilient cash generation
Consistent positive operating cash flow despite accounting losses shows the business converts rental income into cash. This durable cash generation supports near-term debt service, maintenance capex and distributions, providing liquidity flexibility and reducing immediate refinancing pressure.
Negative Factors
Multi-year net losses
Persistent accounting losses erode retained earnings and restrict internal capital formation, forcing reliance on external funding or asset sales. Over the medium term this undermines equity growth, limits reinvestment capacity and raises the risk that cash distributions become unsustainable if pressures persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient cash generation
Consistent positive operating cash flow despite accounting losses shows the business converts rental income into cash. This durable cash generation supports near-term debt service, maintenance capex and distributions, providing liquidity flexibility and reducing immediate refinancing pressure.
Read all positive factors
CLS Holdings (CLI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£209.83M
Dividend Yield7.59%
Average Volume (3M)809.19K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth-8.03%
EPS Growth46.33%
CountryUK
Employees113
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)-0.13
Shares Outstanding401,469,180
10 Day Avg. Volume349,018
30 Day Avg. Volume809,189
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.32
Price to Sales (P/S)1.72
P/FCF Ratio16.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£58.00Price Target Upside11.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.07
Revenue Forecast (FY)£103.93M
CLS Holdings Business Overview & Revenue Model
Company Description
CLS Holdings plc, operating alongside its various subsidiaries, specializes in the acquisition, development, and ongoing management of commercial real estate throughout the United Kingdom, Germany, and France. The company organizes its activities ...
How the Company Makes Money
null...
CLS Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 139.70M | 151.90M | 148.70M | 139.70M | 139.80M |
| Gross Profit | 100.50M | 95.90M | 113.00M | 107.80M | 108.00M |
| EBITDA | -23.30M | -55.80M | 80.00M | 76.50M | 79.60M |
| Net Income | -50.30M | -93.60M | -249.80M | -81.90M | 119.50M |
Balance Sheet | |||||
| Total Assets | 1.77B | 1.93B | 2.16B | 2.50B | 2.54B |
| Cash, Cash Equivalents and Short-Term Investments | 49.40M | 9.00M | 70.60M | 113.90M | 167.40M |
| Total Debt | 905.30M | 1.00B | 1.07B | 1.11B | 1.03B |
| Total Liabilities | 1.03B | 1.15B | 1.23B | 1.28B | 1.21B |
| Stockholders Equity | 742.10M | 784.20M | 929.20M | 1.22B | 1.33B |
Cash Flow | |||||
| Free Cash Flow | 14.50M | 6.80M | 44.80M | -15.40M | 6.90M |
| Operating Cash Flow | 14.60M | 29.50M | 45.90M | 43.00M | 44.20M |
| Investing Cash Flow | 114.20M | 41.10M | -32.30M | -81.30M | -165.50M |
| Financing Cash Flow | -142.90M | -79.80M | -56.20M | -14.60M | 57.30M |
CLS Holdings Technical Analysis
Positive
52.20
Price Trends
49.14
Positive
48.69
Positive
52.58
Negative
Market Momentum
1.07
Negative
61.61
Neutral
77.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CLI, the sentiment is Positive. The current price of 52.2 is above the 20-day moving average (MA) of 50.54, above the 50-day MA of 49.14, and below the 200-day MA of 52.58, indicating a neutral trend. The MACD of 1.07 indicates Negative momentum. The RSI at 61.61 is Neutral, neither overbought nor oversold. The STOCH value of 77.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CLI.
CLS Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £2.86B | 7.85 | 8.78% | 2.81% | 9.10% | 20.49% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | £1.43B | 8.95 | 7.41% | 2.38% | 24.37% | 29.61% | |
63 Neutral | £2.34B | 14.71 | 4.48% | 4.00% | 39.97% | 39.03% | |
58 Neutral | £669.15M | -5.57 | -8.83% | 7.47% | -2.05% | -2319.50% | |
51 Neutral | £230.61M | 42.98 | 1.34% | 6.51% | 4.03% | -79.67% | |
47 Neutral | £209.83M | -4.17 | -6.67% | 7.66% | -8.03% | 46.33% |
* Real Estate Sector Average
GB:CLI
CLS Holdings
52.70
-7.74
-12.81%
GB:SHC
Shaftesbury Capital
143.80
-7.72
-5.09%
GB:DLN
Derwent London plc REIT
2,104.00
308.73
17.20%
GB:GPE
Great Portland Estates plc R.E.I.T.
349.00
30.09
9.44%
GB:HLCL
Helical
199.00
-19.21
-8.80%
GB:WKP
Workspace Group plc R.E.I.T.
350.80
-18.25
-4.94%
CLS Holdings Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
CLS Holdings Executives Boost Stakes Through Share Incentive Plan
Positive
Jul 13, 2026
CLS Holdings plc disclosed that its chief executive, Fredrik Widlund, and chief financial officer, Patrick Symons, have increased their personal stakes through the company’s Share Incentive Plan. The pair acquired partnership shares in the g...
Business Operations and StrategyExecutive/Board Changes
CLS Holdings Names New CFO as Part of Planned Leadership Transition
Neutral
Jul 1, 2026
CLS Holdings has announced that Chief Financial Officer and board director Harry Stokes will step down, remaining in his role until 2 July 2026 and supporting an orderly handover before leaving the company later that month. The board has appointed...
Regulatory Filings and Compliance
CLS Holdings CEO Reports Internal Transfer of Shareholding
Neutral
Jun 24, 2026
CLS Holdings has disclosed an internal share transfer by its chief executive officer, in line with regulatory requirements for dealings by senior management. The transaction underlines the company’s adherence to U.K. market abuse rules that ...
Regulatory Filings and Compliance
CLS CEO Increases Holding Through Share Incentive Plan
Neutral
Jun 11, 2026
CLS Holdings plc reported a routine executive share transaction under its Share Incentive Plan involving Chief Executive Officer Fredrik Widlund. The CEO acquired 322 partnership shares at 46.7 pence each on 9 June 2026 and received an equal numbe...
Executive/Board ChangesDividendsRegulatory Filings and Compliance
CLS Holdings discloses scrip share award to non-executive director
Neutral
Jun 2, 2026
CLS Holdings plc has disclosed a board-level share transaction involving independent non-executive director Eva Lindqvist, who received 1,009 ordinary shares through the company’s Enhanced Scrip Dividend Alternative linked to the 2025 final ...
DividendsRegulatory Filings and Compliance
CLS Holdings Updates Share Capital and Voting Rights After Scrip Dividend
Neutral
May 29, 2026
CLS Holdings has updated its capital structure following the issuance of 3,358,424 new ordinary shares under its Enhanced Scrip Dividend Alternative for the 2025 final dividend. This brings the total shares in issue to 442,136,204, of which 40,667...
DividendsRegulatory Filings and Compliance
CLS Holdings CEO Increases Stake Through Scrip Dividend Share Acquisition
Positive
May 28, 2026
CLS Holdings plc disclosed a management share dealing, reporting that chief executive officer and board director Fredrik Widlund acquired 20,109 ordinary shares under the company’s Enhanced Scrip Dividend Alternative for the 2025 final divid...
DividendsRegulatory Filings and Compliance
CLS Holdings Admits New Shares to LSE Under Enhanced Scrip Dividend
Positive
May 22, 2026
CLS Holdings plc has expanded its issued share capital on the London Stock Exchange’s Main Market through the admission of additional fully paid ordinary shares. Following this move, the company’s total ordinary shares in issue, includ...
Business Operations and StrategyDividendsPrivate Placements and Financing
CLS Holdings Issues New Shares Under Enhanced Scrip Dividend Scheme
Positive
May 15, 2026
CLS Holdings has applied to the London Stock Exchange for the admission of 3,358,424 new ordinary shares of 2.5 pence each to the Official List, with trading expected to begin on 22 May 2026. The shares are being issued to shareholders who elected...
Executive/Board ChangesRegulatory Filings and Compliance
CLS Holdings CEO Increases Stake Through Share Incentive Plan
Neutral
May 13, 2026
CLS Holdings plc disclosed a routine management share transaction under its Share Incentive Plan, involving Chief Executive Officer and director Fredrik Widlund. The move reflects ongoing alignment of executive interests with shareholders through ...
Business Operations and StrategyExecutive/Board Changes
CLS Holdings Aligns Executive Pay With New Long-Term Incentive Structure
Neutral
Apr 30, 2026
CLS Holdings plc has granted its chief executive, Fredrik Widlund, and chief financial officer, Harry Stokes, nil-cost options over ordinary shares under its Long Term Incentive Plan. The awards comprise performance share awards and restricted sha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.