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Hargreaves Services
(LSE:HSP)
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Rating:79Outperform
Price Target:
937.00 p
▲(42.40% Upside)
Action:Reiterated
Date:08/24/26
The score is driven primarily by solid financial fundamentals (strong growth with a conservative balance sheet) and a positive earnings-call outlook (strong FY performance, cash strength, and shareholder returns), supported by an attractive valuation (low P/E and solid yield). Technicals are constructive with price above major moving averages, though financial and cash-flow variability and reliance on some one-off items temper the overall rating.
Hargreaves Services (HSP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£267.74M
Dividend Yield4.59%
Average Volume (3M)45.41K
Price to Earnings (P/E)9.0
Beta (1Y)0.68
Revenue Growth32.88%
EPS Growth108.13%
CountryUK
Employees1,390
SectorN/A
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)0.60
Shares Outstanding30,704,512
10 Day Avg. Volume58,545
30 Day Avg. Volume45,409
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.33
Price to Sales (P/S)0.74
P/FCF Ratio7.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hargreaves Services Business Overview & Revenue Model
Company Description
Hargreaves Services Plc provides environmental and industrial services in the United Kingdom, Europe, Hong Kong, and internationally. It operates through Services, Hargreaves Land, and Hargreaves Raw Materials Services segments. The company offers...
How the Company Makes Money
HSP generates earnings by operating businesses that provide services and/or manage assets across its operating segments. In general, this type of group makes money through (i) service and contract revenue from delivering operational services (e.g....
Hargreaves Services Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Jan 27, 2027
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial performance: double-digit revenue growth (30%), very strong EPS growth (75%), improved margins (~6%), a debt-free balance sheet, and substantial shareholder returns. Several strategic achievements were highlighted (asset realizations, German JV improvement, progress on zinc recycling project). Key risks noted are the reliance on some one-off gains supporting profit, minor permitting delays for the zinc plant, and execution/transition risk as the land business shifts to a capital-light model. Overall the positives (broad-based growth, cash generation, balance sheet strength, and promising project funding) materially outweigh the limited challenges.Positive Updates
Strong Revenue and Profit Growth
Revenue increased 30% year-over-year; profit before tax (PBT) increased by over GBP 40 million; earnings per share (EPS) grew 75%.
Negative Updates
Profit Boosted by One-Off Items
Reported profit benefited materially from one-off items: approximately just under GBP 10 million from land asset disposals and a GBP 7 million gain from settling the Tungsten West contract — implying some portion of the profit uplift is non-recurring.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Revenue and Profit Growth
Revenue increased 30% year-over-year; profit before tax (PBT) increased by over GBP 40 million; earnings per share (EPS) grew 75%.
Read all positive updates
Company Guidance
Management’s guidance focused on near‑term project timing, funding and a capital‑light shift for land: the zinc recycling plant is due to start construction in Q4 with commissioning targeted in late 2027, funded by a EUR 2.0m (~GBP1.5m) government grant, a EUR 12.4m (~GBP11m) state‑backed loan (no recourse) and reducing group equity exposure to about GBP6m; further renewable land tranches will be divested over the next 2–5 years as the land business moves to a capital‑light model. They said the group is debt‑free with GBP21.6m cash at year‑end, strong cash generation (EBITDA >GBP36m; services free cash flow >GBP15m), and the ability to pursue opportunities after returning GBP32.6m to shareholders (including a GBP20m tender offer and >GBP15m upfront from land sales); this momentum underpinned FY results of revenue +30% YoY, PBT +>GBP40m, EPS +75%, a full‑year dividend of GBP0.40 (final GBP0.205, +8% YoY), services margin just over 6%, and Germany performance (+54% post‑tax profits, volumes +12%, trading margin just under 6%).Hargreaves Services Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
70
Positive
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Hargreaves Services Technical Analysis
Positive
658.00
Price Trends
837.66
Positive
810.96
Positive
779.39
Positive
Market Momentum
10.37
Negative
64.01
Neutral
50.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HSP, the sentiment is Positive. The current price of 658 is below the 20-day moving average (MA) of 852.30, below the 50-day MA of 837.66, and below the 200-day MA of 779.39, indicating a bullish trend. The MACD of 10.37 indicates Negative momentum. The RSI at 64.01 is Neutral, neither overbought nor oversold. The STOCH value of 50.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HSP.
Hargreaves Services Peers Comparison
UnderperformOutperform
Sector (―)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
79 Outperform | £267.74M | 8.99 | 15.42% | 4.59% | 32.88% | 108.13% | |
73 Outperform | £213.48M | 11.86 | 33.18% | 5.08% | 5.19% | 4.98% | |
53 Neutral | £28.61M | -42.77 | -5.56% | 4.05% | 16.81% | -146.63% | |
45 Neutral | £34.19M | -2.24 | -46.53% | 3.83% | ― | ― | |
39 Underperform | £63.33M | -2.39 | -19.68% | 7.27% | -0.12% | -2304.17% |
* Sector Average
GB:HSP
Hargreaves Services
872.00
248.03
39.75%
GB:ASY
Andrews Sykes
510.00
24.44
5.03%
GB:PRO
ProService Building Services Marketplace plc
4.25
-5.45
-56.19%
GB:SDY
Speedy Hire
13.76
-12.49
-47.58%
GB:HERC
Hercules Site Services Plc
35.50
-2.00
-5.33%
Hargreaves Services Corporate Events
Business Operations and StrategyFinancial Disclosures
Hargreaves Wins 15-Year Logistics Deal for UK Deposit Return Scheme
Positive
Oct 22, 2026
Hargreaves Services plc has secured a 15-year logistics contract with Australian recycler Re.Group to support the UK Deposit Return Scheme in Scotland, marking a significant expansion of its environmental services capabilities. The agreement cover...
Business Operations and StrategyFinancial Disclosures
Hargreaves Services Wins Sizewell C Engineering Contract, Bolstering UK Infrastructure Role
Positive
Oct 9, 2026
Hargreaves Services has secured a significant engineering contract from Sizewell C Limited to design, procure, manufacture, install, test and commission three foul water treatment facilities for the Sizewell C nuclear power project. The work, sche...
Business Operations and Strategy
Hargreaves named preferred bidder for UK Deposit Return Scheme logistics
Positive
Sep 30, 2026
Hargreaves Services has been named preferred bidder for a long-term logistics contract with Australian recycling specialist Re.Group to support the UK Deposit Return Scheme in Scotland. Under the arrangement, Hargreaves would manage collection, tr...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Hargreaves posts 2026 annual report and sets AGM as services-led strategy advances
Positive
Sep 18, 2026
Hargreaves Services has circulated its 2026 Annual Report and Accounts to shareholders and made the documents available on its website, as part of its regular corporate reporting cycle to investors. The company also confirmed that its Annual Gener...
Business Operations and Strategy
Hargreaves Services Moves Registered Office to Newcastle Hub
Positive
Sep 15, 2026
Hargreaves Services plc, a diversified provider of environmental, clean energy and connectivity services, has shifted its registered office from Durham to a new headquarters at Wellbar Central in central Newcastle upon Tyne. The move reflects the ...
Other
Hargreaves Director Nicholas Mills Trims Stake but Retains Quarter of Share Capital
Neutral
Aug 20, 2026
Hargreaves Services plc has disclosed that investment vehicles linked to director Nicholas Mills sold 110,000 ordinary shares at 820p each on 18 August 2026. Following the disposal, Mills and his connected entities retain an interest in 7,850,000 ...
Other
Insider Dealings Reshape Hargreaves Services’ Boardroom Stakes
Neutral
Aug 17, 2026
Hargreaves Services reported significant insider share transactions involving two senior figures, reshaping its internal ownership landscape while leaving overall free float unchanged. The group, which supports sectors from clean energy and enviro...
Private Placements and FinancingRegulatory Filings and Compliance
Hargreaves Services Discloses Share Pledge by Entity Linked to Gordon Banham
Neutral
Aug 5, 2026
Hargreaves Services has disclosed that GB Holdings (2021) Limited, an entity associated with senior figure Gordon Banham, has pledged 2,600,761 ordinary shares in the company as security for a loan facility with LGT Bank AG. Despite the pledge, GB...
Business Operations and StrategyExecutive/Board Changes
Hargreaves Services installs new CEO as founder shifts to JV role
Positive
Aug 3, 2026
Hargreaves Services has implemented a planned leadership transition, with Chief Operating Officer Simon Hicks succeeding long-serving chief executive Gordon Banham as CEO from 31 July 2026. The change follows Hicks’ integration into the busi...
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.