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Keller Group plc
(LSE:KLR)
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Rating:73Outperform
Price Target:
3,711.00 p
▲(24.53% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by improving financial fundamentals (higher earnings, strengthening balance sheet, and robust recent free cash flow) and a constructive earnings-call backdrop (reaffirmed upgraded expectations, margin confidence, and a record order book). Offsetting these positives are mixed near-term technical signals (pullback below the 20-day average with neutral momentum indicators) and modest valuation support (P/E ~14.9 with a ~2.33% yield).
Positive Factors
Earnings Growth
Strong revenue, operating profit and EPS growth indicates improving execution and operating leverage across the group. Sustaining margins above 7% would strengthen recurring earnings capacity, support reinvestment, and improve resilience through the next several quarters.
Negative Factors
Regional Market Weakness
Weakness in several regional and end-market pockets can reduce project volume and increase competitive pressure, especially where customers defer investment. Although other areas are growing, continued softness could make group growth more uneven and complicate resource allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Earnings Growth
Strong revenue, operating profit and EPS growth indicates improving execution and operating leverage across the group. Sustaining margins above 7% would strengthen recurring earnings capacity, support reinvestment, and improve resilience through the next several quarters.
Read all positive factors
Keller Group plc (KLR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.11B
Dividend Yield2.56%
Average Volume (3M)191.37K
Price to Earnings (P/E)14.1
Beta (1Y)0.50
Revenue Growth9.58%
EPS Growth14.74%
CountryUK
Employees10,000
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.25
Shares Outstanding67,978,745
10 Day Avg. Volume169,880
30 Day Avg. Volume191,366
Financial Highlights & Ratios
PEG Ratio3.25
Price to Book (P/B)1.83
Price to Sales (P/S)0.38
P/FCF Ratio6.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£3,320.00Price Target Upside11.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)2.48
Revenue Forecast (FY)£3.37B
Keller Group plc Business Overview & Revenue Model
Company Description
Keller Group plc provides specialist geotechnical services in North America, Europe, the Middle East, and the Asia-Pacific. The company offers ground engineering solutions, including ground improvement services, grouting, deep foundations, earth r...
How the Company Makes Money
Keller Group plc primarily makes money by contracting and delivering geotechnical construction services on a project basis. Revenue is generated from (1) execution of ground engineering works—such as foundation solutions (including piling) and gro...
Keller Group plc Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 09, 2027
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial picture: double-digit revenue growth, notable profit and EPS uplift, a record order book and clear exposure to fast-growing subsectors (notably data centers). These positives are tempered by localized softness (Miami multifamily, parts of Europe and Australia), working capital pressure from large projects and ongoing ERP/transformation costs. On balance the company reported material progress on growth, margins and capital returns while retaining balance sheet headroom.Positive Updates
Record Group Financial Performance
Revenues up 11% (constant currency) in H1 2026; underlying operating profit up 17.1% and group margin increased to 7.3%. Underlying EPS up 22%, demonstrating strong profitability improvement year-on-year.
Negative Updates
Regional Revenue and Subsector Weaknesses
EME revenue down 5.2%; South Florida (Miami) multifamily residential revenue declined by approximately one-third. Moretrench trading reduced after a strong 2025, constrained by its main client's lower investment due to the Iran war impacts.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Group Financial Performance
Revenues up 11% (constant currency) in H1 2026; underlying operating profit up 17.1% and group margin increased to 7.3%. Underlying EPS up 22%, demonstrating strong profitability improvement year-on-year.
Read all positive updates
Company Guidance
The group reaffirmed guidance to meet its recently upgraded FY‑26 market expectations, flagging H2 weighting to results and a similar cash profile to 2025, and expressed confidence in sustaining margins above 7% (H1 margin 7.3%) on the back of strong momentum (H1 revenue +11% cc; underlying operating profit +17.1% cc; underlying EPS +22%). They expect to be roughly £30m net cash at year‑end after buybacks (IAS17 net debt at H1 £15.9m), have completed £32.4m of a £100m buyback, and retain c. £655m of funding headroom to support organic and inorganic opportunities. Capital allocation guidance remains: prioritise working capital and CapEx, maintain dividends (interim 28.7p, +57%; full‑year policy 2.5–3.5x cover, assuming 3x with 35% paid at interim), then M&A and further buybacks; ERP pilot is planned in Canada early 2027, no material claims settlements expected, and the healthy order book (North America £1,367.9m including multiyear I‑40; group ~£1.94bn) and tender pipeline underpin a positive H2 outlook.Keller Group plc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.24B | 3.09B | 2.99B | 2.97B | 2.94B | 2.22B |
| Gross Profit | 1.30B | 1.29B | 412.00M | 1.16B | 1.89B | 242.20M |
| EBITDA | 339.10M | 328.70M | 319.20M | 272.20M | 184.00M | 176.00M |
| Net Income | 155.60M | 142.70M | 142.30M | 89.40M | 46.00M | 56.50M |
Balance Sheet | ||||||
| Total Assets | 1.87B | 1.83B | 1.79B | 1.68B | 1.70B | 1.45B |
| Cash, Cash Equivalents and Short-Term Investments | 209.70M | 281.50M | 202.70M | 151.40M | 101.10M | 82.70M |
| Total Debt | 312.30M | 310.40M | 334.60M | 388.70M | 400.00M | 276.00M |
| Total Liabilities | 1.21B | 1.18B | 1.19B | 1.16B | 1.21B | 1.01B |
| Stockholders Equity | 650.60M | 641.40M | 593.70M | 515.30M | 494.50M | 439.90M |
Cash Flow | ||||||
| Free Cash Flow | 175.40M | 171.60M | 176.90M | 102.50M | -26.90M | 71.30M |
| Operating Cash Flow | 271.20M | 261.90M | 265.90M | 197.00M | 54.80M | 155.70M |
| Investing Cash Flow | -81.50M | -75.20M | -57.70M | -72.50M | -89.00M | -97.00M |
| Financing Cash Flow | -140.50M | -110.60M | -145.20M | -67.70M | 41.00M | -37.60M |
Keller Group plc Technical Analysis
Positive
2980.00
Price Trends
3124.68
Positive
3045.62
Positive
2540.24
Positive
Market Momentum
-7.38
Positive
49.54
Neutral
61.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KLR, the sentiment is Positive. The current price of 2980 is below the 20-day moving average (MA) of 3191.40, below the 50-day MA of 3124.68, and above the 200-day MA of 2540.24, indicating a neutral trend. The MACD of -7.38 indicates Positive momentum. The RSI at 49.54 is Neutral, neither overbought nor oversold. The STOCH value of 61.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:KLR.
Keller Group plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £4.01B | 16.21 | 22.88% | 1.70% | 12.13% | 47.64% | |
77 Outperform | £688.37M | 17.07 | 32.45% | 3.34% | 2.98% | 23.40% | |
75 Outperform | £677.12M | 18.00 | 14.73% | 2.00% | -6.49% | 22.41% | |
73 Outperform | £2.11B | 14.05 | 24.09% | 2.56% | 9.58% | 14.74% | |
68 Neutral | £1.91B | 10.03 | 24.83% | 4.04% | 10.84% | 24.56% | |
65 Neutral | £1.31B | 22.92 | 11.95% | 2.50% | 6.75% | 11.01% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
GB:KLR
Keller Group plc
3,162.00
1,611.44
103.93%
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Keller Group plc Corporate Events
Business Operations and StrategyStock Buyback
Keller boosts treasury stock as share buyback programme advances
Positive
Oct 13, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing ordinary shares on the London Stock Exchange between 5 and 9 October 2026 at volume-weighted average prices in the low- to mid-3,000 pence range. The com...
Business Operations and StrategyStock Buyback
Keller Group Expands Treasury Stock with Continued Share Buyback
Positive
Oct 6, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing tranches of ordinary shares on the London Stock Exchange between 28 September and 2 October 2026 via Peel Hunt LLP. The company plans to hold these repur...
Regulatory Filings and Compliance
Keller Group Updates Total Voting Rights and Share Capital
Neutral
Oct 1, 2026
Keller Group plc has reported that as of 30 September 2026 its total issued share capital stands at 73,099,735 ordinary shares of 10p each, of which 4,558,669 are held in treasury, leaving 68,541,066 ordinary shares carrying voting rights. This up...
Business Operations and StrategyStock Buyback
Keller Group strengthens capital position with latest share buyback
Positive
Sep 29, 2026
Keller Group plc, a leading global geotechnical specialist contractor, focuses on advanced foundation and ground improvement services for construction projects worldwide. With operations spanning five continents, an annual workload of about 5,500 ...
Business Operations and Strategy
Keller expands record I-40 highway contract, boosting order book to £2.4bn
Positive
Sep 28, 2026
Keller Group plc, the world’s largest geotechnical contractor, specialises in advanced foundation and ground improvement services for construction projects worldwide, supported by a global workforce and multi-billion-pound annual revenues. T...
Business Operations and StrategyStock Buyback
Keller Group Advances Share Buyback, Boosting Treasury Holdings
Positive
Sep 22, 2026
Keller Group plc has repurchased a series of its ordinary shares between 14 and 18 September 2026 as part of a previously announced share buyback programme, executing the trades through Peel Hunt LLP on the London venue. The transactions, conducte...
Regulatory Filings and Compliance
Keller Group Executive Increases Shareholding via Dividend Reinvestment Plan
Neutral
Sep 15, 2026
Keller Group plc has disclosed that Peter Wyton, President for the EME region and a person discharging managerial responsibilities, acquired 700 ordinary shares in the company on 14 September 2026. The shares were purchased at £29.52 each via...
Business Operations and StrategyStock Buyback
Keller boosts treasury stock as share buyback programme advances
Positive
Sep 15, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing ordinary shares between 7 and 11 September 2026 on the London Stock Exchange. The latest transactions, undertaken via Peel Hunt, will be held ...
Regulatory Filings and Compliance
Keller Group Discloses Share Sale by Regional President
Neutral
Sep 11, 2026
Keller Group plc disclosed that Peter Wyton, President for the EME region and a person discharging managerial responsibilities, sold 30,000 ordinary shares in the company at £29.66 per share. The transaction, conducted on 10 September 2026 on...
Business Operations and StrategyStock Buyback
Keller Group boosts treasury stock with latest share buybacks
Positive
Sep 8, 2026
Keller Group plc has continued its share buyback programme, repurchasing ordinary shares on the London Stock Exchange between 1 and 4 September 2026 at volume-weighted average prices of just over 3,000 pence per share. The transactions, executed v...
Business Operations and StrategyStock Buyback
Keller Group boosts treasury stock through latest share buyback
Positive
Sep 2, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing ordinary shares between 24 and 28 August 2026 on the London Stock Exchange via Investec Bank. The company is retaining the acquired shares in ...
Regulatory Filings and Compliance
Keller Group Updates Share Capital and Voting Rights
Neutral
Sep 1, 2026
Keller Group plc has reported that, as of 28 August 2026, its total issued share capital stands at 73,099,735 ordinary shares, of which 4,113,435 are held in treasury, leaving 68,986,300 voting rights in circulation. This updated voting rights fig...
Regulatory Filings and Compliance
Keller Group discloses share sale by senior EME executive
Neutral
Aug 27, 2026
Keller Group plc has disclosed that Peter Wyton, President for the EME region and a person discharging managerial responsibilities, has sold 20,000 ordinary shares in the company. The disposal was executed on 26 August 2026 on the London Stock Exc...
Business Operations and StrategyStock Buyback
Keller Group Boosts Treasury Stock with Ongoing Share Buyback
Positive
Aug 25, 2026
Keller Group plc has continued its share buyback programme, repurchasing a series of ordinary shares between 17 and 21 August 2026 on the London Stock Exchange through Investec Bank plc. The company intends to hold these shares in treasury, bringi...
Business Operations and StrategyStock Buyback
Keller boosts treasury stock as share buyback programme advances
Positive
Aug 18, 2026
Keller Group plc, a leading global geotechnical specialist contractor, focuses on advanced foundation and ground improvement services for construction projects worldwide. With a workforce of around 10,000 and operations spanning five continents, t...
Business Operations and StrategyStock Buyback
Keller Group Boosts Treasury Stock Through August Share Buybacks
Positive
Aug 11, 2026
Keller Group plc has continued executing its previously announced share buyback programme, purchasing ordinary shares between 3 and 7 August 2026 via Investec Bank on the London Stock Exchange. The trades were executed at volume-weighted average p...
Regulatory Filings and Compliance
Keller Group Reports Share Dealings by Senior Executives
Neutral
Aug 6, 2026
Keller Group plc has reported share transactions by two senior figures, highlighting ongoing equity activity among its leadership. Non-executive director Stephen King purchased 6,500 ordinary shares at £30.62 each, while Peter Wyton, Presiden...
Business Operations and StrategyStock Buyback
Keller Group tightens equity base with latest share buybacks
Positive
Aug 4, 2026
Keller Group plc, the world’s largest geotechnical specialist contractor, provides advanced foundation and ground improvement services to the construction sector worldwide. The company operates with about 10,000 employees across five contine...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Keller Group posts strong H1, boosts dividend on record order book
Positive
Aug 4, 2026
Keller Group reported a strong first half to 30 June 2026, with revenue rising to £1.61bn and underlying operating profit to £117.9m, driven chiefly by record volumes and profit growth in North America. Margin improvement, a 22% jump in ...
Regulatory Filings and Compliance
Keller Group Updates Total Voting Rights and Share Capital Structure
Neutral
Aug 3, 2026
Keller Group plc has confirmed that, as of 31 July 2026, its total issued share capital stands at 73,099,735 ordinary shares of 10p each, with 3,815,290 shares held in treasury, leaving 69,284,445 voting rights attached to its ordinary shares. Thi...
Business Operations and StrategyStock Buyback
Keller Group Adds to Treasury Stock as Share Buyback Programme Progresses
Positive
Jul 14, 2026
Keller Group plc has continued executing its previously announced share buyback programme, repurchasing ordinary shares between 6 July and 10 July 2026 through Investec Bank at a volume‑weighted average price of about 2,681 pence. Following ...
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.