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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
£258.53M
Dividend Yield4.5%
Average Volume (3M)127.13K
Price to Earnings (P/E)8.7
Beta (1Y)0.69
Revenue Growth32.88%
EPS Growth117.23%
CountryUK
Employees1,405
SectorN/A
Sector StrengthN/A
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)0.64
Shares Outstanding30,704,512
10 Day Avg. Volume72,315
30 Day Avg. Volume127,127
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
809.20
Positive
806.62
Positive
754.08
Positive
Market Momentum
10.60
Negative
60.33
Neutral
49.31
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 822.20, below the 50-day MA of 809.20, and below the 200-day MA of 754.08, indicating a bullish trend. The MACD of 10.60 indicates Negative momentum. The RSI at 60.33 is Neutral, neither overbought nor oversold. The STOCH value of 49.31 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 | £258.53M | 8.68 | 15.42% | 4.71% | 32.88% | 117.23% | |
73 Outperform | £237.55M | 13.20 | 35.67% | 4.58% | 0.73% | 7.65% | |
65 Neutral | £30.62M | -45.78 | -5.56% | 4.05% | 16.81% | -146.63% | |
46 Neutral | £79.34M | -2.99 | -19.68% | 6.02% | -0.12% | -2304.17% | |
43 Neutral | £16.96M | -0.14 | -89.16% | 8.53% | ― | ― |
* Sector Average
GB:HSP
Hargreaves Services
844.00
163.26
23.98%
GB:ASY
Andrews Sykes
565.00
39.46
7.51%
GB:PRO
ProService Building Services Marketplace plc
2.46
-6.39
-72.20%
GB:SDY
Speedy Hire
16.60
-6.13
-26.96%
GB:HERC
Hercules Site Services Plc
38.00
-1.00
-2.56%
Hargreaves Services Corporate Events
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...
Business Operations and StrategyDividendsFinancial Disclosures
Hargreaves Services posts twelve-year high profits as infrastructure strategy pays off
Positive
Jul 29, 2026
Hargreaves Services reported a strong set of final results for the year to 31 May 2026, with revenue up 32.9% to £351.4m and underlying profit before tax almost doubling to £34.0m. Profit before tax surged to a twelve-year high of £...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Hargreaves Services Sets Date for Full-Year Results and Investor Briefings
Positive
Jun 30, 2026
Hargreaves Services plc has confirmed it will publish preliminary results for the year ended 31 May 2026 on 29 July 2026, underscoring a structured engagement plan with the market. The announcement signals the company’s intent to communicate...
Business Operations and StrategyRegulatory Filings and Compliance
Hargreaves Director-Linked Funds Lift Stake to Over 27%
Positive
Jun 26, 2026
Hargreaves Services has disclosed that investment vehicles connected to director Nicholas Mills have adjusted their holdings, purchasing 12,690 ordinary shares and selling 410 shares in recent dealings on AIM. Following these transactions, Mills a...
Business Operations and StrategyFinancial Disclosures
Hargreaves Services forecasts profit growth and stronger revenue across all divisions
Positive
Jun 17, 2026
Hargreaves Services expects to report revenue ahead of market forecasts and profit before tax in line with expectations for the year to 31 May 2026, with year-on-year profitability growth across its Services, Hargreaves Land and German joint ventu...
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.