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Keller Group plc
(LSE:KLR)
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Rating:73Outperform
Price Target:
3,401.00 p
â–²(14.13% 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
Strong revenue and profit growth
Broad-based growth is improving operating leverage and earnings capacity. Sustained double-digit H1 expansion, alongside higher margins, indicates stronger project execution and demand rather than reliance only on financial engineering.
Negative Factors
Earnings and margin volatility
Project-based contracting can produce uneven profitability when costs, pricing or schedules change. Historical margin volatility makes future earnings less predictable and leaves results exposed to execution errors, claims and shifts in project mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and profit growth
Broad-based growth is improving operating leverage and earnings capacity. Sustained double-digit H1 expansion, alongside higher margins, indicates stronger project execution and demand rather than reliance only on financial engineering.
Read all positive factors
Keller Group plc (KLR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.05B
Dividend Yield2.67%
Average Volume (3M)148.64K
Price to Earnings (P/E)13.5
Beta (1Y)0.63
Revenue Growth9.58%
EPS Growth14.74%
CountryUK
Employees10,000
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.25
Shares Outstanding68,888,070
10 Day Avg. Volume175,632
30 Day Avg. Volume148,636
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
£3,115.00Price Target Upside4.53% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)2.47
Revenue Forecast (FY)£3.34B
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 makes money primarily by contracting geotechnical construction services on a project-by-project basis. Revenue is generated from (1) executing specialty foundation works (e.g., piling and other deep/shallow foundation solutions) where it is...
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 | 355.40M | 328.70M | 289.30M | 272.20M | 182.90M | 178.60M |
| 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
3054.84
Negative
2695.62
Positive
2238.35
Positive
Market Momentum
-5.51
Negative
51.66
Neutral
76.42
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 3008.84, below the 50-day MA of 3054.84, and above the 200-day MA of 2238.35, indicating a neutral trend. The MACD of -5.51 indicates Negative momentum. The RSI at 51.66 is Neutral, neither overbought nor oversold. The STOCH value of 76.42 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | £598.67M | 15.78 | 14.73% | 2.31% | -6.49% | 22.41% | |
73 Outperform | £2.05B | 13.46 | 24.09% | 2.67% | 9.58% | 14.74% | |
72 Outperform | £594.88M | 16.72 | 30.23% | 3.32% | 0.53% | -8.91% | |
71 Outperform | £1.06B | 18.94 | 11.69% | 3.09% | 2.50% | 40.96% | |
70 Outperform | £4.12B | 16.51 | 22.88% | 1.66% | 12.13% | 47.64% | |
68 Neutral | £2.00B | 10.52 | 24.83% | 3.86% | 10.84% | 24.56% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
GB:KLR
Keller Group plc
3,028.00
1,744.91
135.99%
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GB:MGNS
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Keller Group plc Corporate Events
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 ...
Business Operations and StrategyStock Buyback
Keller Group Boosts Treasury Stock Through Continued Share Buyback
Positive
Jul 7, 2026
Keller Group plc has continued its share buyback programme, purchasing tranches of ordinary shares between 29 June and 3 July 2026 on the London Stock Exchange at volume-weighted average prices ranging from roughly 2,628p to 2,726p. The repurchase...
Business Operations and StrategyFinancial Disclosures
Keller lifts 2026 outlook on surging North American demand and record order book
Positive
Jul 7, 2026
Keller Group plc has issued a trading update ahead of its interim results, reporting that strong momentum from early 2026 has accelerated, particularly in North America. Record volumes and rising customer demand for infrastructure and data centre ...
DividendsRegulatory Filings and Compliance
Keller Group executive increases stake via dividend reinvestment
Positive
Jul 1, 2026
Keller Group plc reported that Peter Wyton, President for the Europe, Middle East (EME) region and a person discharging managerial responsibilities, acquired 1,600 ordinary shares through the company’s Dividend Reinvestment Plan. The shares ...
Regulatory Filings and Compliance
Keller updates total voting rights and share capital structure
Neutral
Jul 1, 2026
Keller Group plc, a leading geotechnical specialist contractor, delivers advanced foundation and ground improvement services to construction clients worldwide. With around 10,000 employees operating across five continents and handling roughly 5,50...
Business Operations and StrategyStock Buyback
Keller Group boosts treasury stock through June share buybacks
Positive
Jun 30, 2026
Keller Group plc has continued executing its previously announced share buyback programme, repurchasing ordinary shares on the London Stock Exchange between 22 and 26 June 2026 via Investec Bank plc. The company intends to hold these repurchased s...
Business Operations and StrategyStock Buyback
Keller boosts treasury stock with latest share buyback tranche
Positive
Jun 23, 2026
Keller Group plc has continued its ongoing share buyback programme, repurchasing ordinary shares between 15 and 19 June 2026 through Investec Bank at volume‑weighted average prices around 2,656p to 2,684p. The company intends to hold these s...
Business Operations and Strategy
Keller Group Adds RBC as Joint Corporate Broker to Bolster Market Support
Positive
Jun 19, 2026
Keller Group plc has appointed RBC Capital Markets as a joint corporate broker with immediate effect, expanding its existing advisory line-up alongside Investec Bank. The move underscores Keller’s focus on strengthening its capital markets a...
Stock Buyback
Keller Group Expands Treasury Stock with Latest Share Buyback Tranche
Positive
Jun 16, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing tranches of its 10 pence ordinary shares on the London Stock Exchange between 8 and 12 June 2026 via Investec Bank. The shares bought during this period ...
Stock Buyback
Keller adds to treasury stock as share buyback programme advances
Positive
Jun 9, 2026
Keller Group plc, a leading global geotechnical contractor, offers a wide portfolio of specialist foundation and ground improvement techniques for infrastructure and construction projects worldwide. With operations spanning five continents and a l...
Business Operations and StrategyFinancial Disclosures
Keller wins major I-40 contract boost, lifting order book to record level
Positive
Jun 9, 2026
Keller Group plc has secured an additional contract variation worth $207m for its work on the reconstruction of the I-40 highway in the U.S., extending a series of work packages it began in 2025. This brings the total value of Keller’s I-40-...
Business Operations and StrategyStock Buyback
Keller Tightens Share Capital with Further Buybacks Held in Treasury
Positive
Jun 2, 2026
Keller Group has continued to execute its previously announced share buyback programme, repurchasing tranches of ordinary shares between 25 May and 29 May 2026 on the London Stock Exchange via Investec Bank. The company intends to hold these repur...
Regulatory Filings and Compliance
Keller Group Updates Total Voting Rights and Share Capital Structure
Neutral
Jun 1, 2026
Keller Group plc has confirmed that as of 29 May 2026 its total issued share capital is 73,099,735 ordinary shares of 10p each, of which 3,406,830 are held in treasury. This leaves 69,692,905 ordinary shares carrying voting rights, a figure shareh...
Business Operations and StrategyStock Buyback
Keller Group Adds to Treasury Stock with Latest Share Buyback
Positive
May 27, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing ordinary shares of 10 pence each on the London Stock Exchange between 18 and 22 May 2026 through Investec Bank plc. The transactions were carr...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Keller Wins Strong Shareholder Backing at 2026 AGM
Positive
May 20, 2026
Keller Group plc reported that shareholders approved all resolutions at its 2026 annual general meeting in London, with 73.14% of eligible votes cast, underscoring strong investor engagement. The meeting confirmed the receipt of the annual report,...
Business Operations and StrategyStock BuybackFinancial Disclosures
Keller Group posts strong start to 2026, boosts buybacks as order book grows
Positive
May 20, 2026
Keller Group reported a strong start to 2026, with trading in the first four months ahead of last year and in line with internal expectations, driven particularly by robust performance in its North American foundations business. The company said i...
Business Operations and StrategyStock Buyback
Keller Group Expands Treasury Stock with Latest Share Buyback
Positive
May 19, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing ordinary shares with a nominal value of 10 pence each between 11 May and 15 May 2026 through Investec Bank. The company intends to hold these repurchased...
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.