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James Latham
(LSE:LTHP)
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Rating:76Outperform
Price Target:
138.00 p
▲(12.65% Upside)
Action:Reiterated
Date:10/04/26
The score is driven primarily by very attractive valuation (very low P/E and a high dividend yield) and a supportive technical uptrend (price above key moving averages with positive MACD). Offsetting these positives, financial performance is mixed due to post-2022/2023 profitability normalization and weakening free cash flow, including negative free cash flow in 2026.
Positive Factors
Low leverage and stronger equity
A conservatively financed balance sheet gives James Latham financial flexibility to manage demand fluctuations and continue investing in its distribution operations. Rising equity also indicates cumulative balance-sheet strengthening, reducing reliance on leverage to support the business over the medium term.
Negative Factors
Profitability normalization
The sustained step-down in EBIT and net income from the 2022–2023 peak indicates that earnings power has not been maintained at prior levels. Lower profitability may constrain reinvestment and reduce the resilience of returns if demand or pricing conditions remain less favorable.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and stronger equity
A conservatively financed balance sheet gives James Latham financial flexibility to manage demand fluctuations and continue investing in its distribution operations. Rising equity also indicates cumulative balance-sheet strengthening, reducing reliance on leverage to support the business over the medium term.
Read all positive factors
James Latham (LTHP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£212.83M
Dividend Yield6.53%
Average Volume (3M)11.00
Price to Earnings (P/E)1.3
Beta (1Y)0.00
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees588
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)0.92
Shares Outstanding590,478
10 Day Avg. Volume0
30 Day Avg. Volume11
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)0.11
Price to Sales (P/S)0.06
P/FCF Ratio-5.40
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
James Latham Business Overview & Revenue Model
Company Description
James Latham Plc specializes in the importation and distribution of a diverse range of wood-based panel products. The company offers an extensive portfolio of materials, including various panels, solid surfaces, door blanks, hardwoods, softwoods, ...
How the Company Makes Money
James Latham primarily makes money by buying timber, panel products and other wood-based materials from manufacturers/sawmills and reselling them to trade customers at a margin (distribution/merchanting model). Revenue is therefore mainly driven b...
James Latham Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
83
Very Positive
Cash Flow
56
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 393.04M | 366.61M | 366.51M | 408.37M | 385.37M |
| Gross Profit | 64.85M | 61.45M | 62.10M | 80.01M | 91.53M |
| EBITDA | 27.87M | 30.11M | 34.73M | 48.94M | 62.26M |
| Net Income | 18.60M | 18.15M | 22.66M | 35.92M | 35.92M |
Balance Sheet | |||||
| Total Assets | 291.66M | 275.45M | 269.70M | 250.36M | 224.81M |
| Cash, Cash Equivalents and Short-Term Investments | 51.20M | 69.12M | 75.88M | 62.61M | 37.03M |
| Total Debt | 7.77M | 12.02M | 8.67M | 6.60M | 5.00M |
| Total Liabilities | 59.34M | 54.97M | 54.47M | 54.78M | 60.84M |
| Stockholders Equity | 232.31M | 220.48M | 215.23M | 195.57M | 163.97M |
Cash Flow | |||||
| Free Cash Flow | -4.56M | 3.56M | 21.54M | 33.01M | 16.35M |
| Operating Cash Flow | 21.76M | 17.02M | 27.13M | 36.31M | 20.66M |
| Investing Cash Flow | -26.26M | -9.80M | -1.97M | -2.41M | -6.47M |
| Financing Cash Flow | -9.78M | -17.61M | -8.33M | -8.32M | -5.79M |
James Latham Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £212.83M | 1.33 | 8.13% | 6.53% | ― | ― | |
70 Outperform | £1.74B | 13.77 | 7.94% | 4.06% | 8.57% | 0.74% | |
68 Neutral | £23.76M | 5.45 | 13.07% | 0.69% | 1.57% | 2.78% | |
56 Neutral | £146.44M | 110.49 | 0.71% | 7.75% | 1.30% | -79.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | £19.53M | -1.93 | -26.48% | 4.43% | 3.98% | -322.92% | |
48 Neutral | £107.97M | -2.10 | -46.37% | 3.17% | -0.75% | 25.17% |
* General Sector Average
GB:LTHP
James Latham
122.50
7.87
6.87%
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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.