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MHP SE GDR RegS
(LSE:MHPC)
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Rating:47Neutral
Price Target:
$7.00
▼(-6.42% Downside)
Action:Reiterated
Date:10/02/26
The score is held down mainly by weakening profitability and persistently negative recent free cash flow, with moderate leverage adding risk if earnings remain pressured. Technicals also point to a weak trend (below key moving averages and negative MACD). Valuation is roughly mid-range (P/E ~20.8) without dividend support, while the latest earnings call was mixed—operational progress and refinancing offset by net loss, poultry margin pressure, higher logistics costs, and reduced EBITDA outlook.
Positive Factors
Integrated Poultry Value Chain
MHP's vertically integrated model captures value across feed, farming, processing, and distribution rather than relying on a single production stage. This supports supply coordination, product development, and margin retention across the poultry chain, strengthening resilience over the next several quarters.
Negative Factors
Severe Profitability Pressure
Revenue growth is not translating into equivalent earnings growth: gross profit rose only 8% against 32% revenue growth, while operating profit and margins declined. This signals weaker earnings quality and makes future performance more sensitive to pricing, costs, and product mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Poultry Value Chain
MHP's vertically integrated model captures value across feed, farming, processing, and distribution rather than relying on a single production stage. This supports supply coordination, product development, and margin retention across the poultry chain, strengthening resilience over the next several quarters.
Read all positive factors
MHP SE GDR RegS (MHPC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
$746.06M
Dividend Yield8.22%
Average Volume (3M)12.10K
Price to Earnings (P/E)20.5
Beta (1Y)1.10
Revenue Growth29.07%
EPS Growth-61.75%
CountryUK
Employees40,020
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.34
Shares Outstanding110,770,000
10 Day Avg. Volume24,200
30 Day Avg. Volume12,102
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)0.36
Price to Sales (P/S)0.21
P/FCF Ratio-193.17
Enterprise Value/Market Cap4.02
Enterprise Value/Revenue0.70
Enterprise Value/Gross Profit3.38
Enterprise Value/Ebitda5.56
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.97
Revenue Forecast (FY)$3.92B
MHP SE GDR RegS Business Overview & Revenue Model
Company Description
MHP SE, alongside its various subsidiaries, operates as a significant producer and distributor of food and poultry products, serving markets both within Ukraine and globally. The company organizes its extensive operations into four distinct divisi...
How the Company Makes Money
MHP SE generates revenue primarily by selling poultry and related food products. Key revenue streams include (1) sales of poultry meat (fresh, chilled, and processed products) to retailers, foodservice customers, and other wholesale channels, and ...
MHP SE GDR RegS Earnings Call Summary
Earnings Call Date:Sep 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Neutral
The call presented a resilient and diversified business with strong revenue growth, stable first-half adjusted EBITDA, expanding European operations, improved vegetable oil performance and adaptive export routes. However, these positives were offset by a $57 million net loss, lower operating profit and margins, sharply weaker poultry profitability, Ukrainian logistics and infrastructure disruptions, higher logistics costs, lower agricultural prices, a reduced full-year EBITDA outlook of approximately $420 million to $450 million, and refinancing requirements. The positive operational developments and resilience were substantial, but the financial and operating challenges were also significant and broadly balanced the highlights.Positive Updates
Revenue Growth Supported by UVESA Consolidation
Revenue for the first six months of 2026 increased 32% year-on-year to approximately $2.161 billion, mainly driven by the consolidation of UVESA within the European operating segment.
Negative Updates
Challenging Ukrainian Macroeconomic Environment
The operating environment in Ukraine remains challenging due to continued missile attacks on infrastructure, pressure on the energy system, significant infrastructure damage, electricity constraints and higher energy prices. The National Bank of Ukraine expects full-year GDP growth of around 2%.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth Supported by UVESA Consolidation
Revenue for the first six months of 2026 increased 32% year-on-year to approximately $2.161 billion, mainly driven by the consolidation of UVESA within the European operating segment.
Read all positive updates
Company Guidance
For 2026, MHP expects EBITDA of approximately $420 million, $450 million, CapEx of around $220 million, $240 million, including maintenance CapEx, and investment in working capital of around $20 million, $30 million; poultry export price has shown gradual recovery, but MHP does not expect a quick return to the peak level seen during the Q2 and Q3 last year, while lower poultry production costs are expected starting mainly from Q4, and the European operating segment is expected to have broadly stable poultry and processed meat prices, continued sales volume growth and steady growth in EBITDA over the course of the year. As of the fourth quarter, lower-priced corn and wheat are expected to support better chicken production costs, with a positive effect during the 9 months 2027, while agricultural EBITDA could be weighed if lower grain and oilseed prices persist; in Europe, UVESA is expected to have double digit profitability in 2026, but not 15%, against a target of 15% EBITDA margin.MHP SE GDR RegS Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
52
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.29B | 3.77B | 3.05B | 3.02B | 2.64B | 2.37B |
| Gross Profit | 887.00M | 900.00M | 848.00M | 687.00M | 608.21M | 744.52M |
| EBITDA | 539.70M | 645.00M | 500.00M | 502.00M | 640.91M | 748.71M |
| Net Income | 37.00M | 175.00M | 134.00M | 144.00M | -225.58M | 375.51M |
Balance Sheet | ||||||
| Total Assets | 5.42B | 5.45B | 4.43B | 3.89B | 3.81B | 4.10B |
| Cash, Cash Equivalents and Short-Term Investments | 348.00M | 435.00M | 357.00M | 458.00M | 312.43M | 283.29M |
| Total Debt | 2.58B | 2.48B | 1.93B | 1.87B | 1.91B | 1.88B |
| Total Liabilities | 3.35B | 3.23B | 2.46B | 2.32B | 2.36B | 2.31B |
| Stockholders Equity | 2.01B | 2.16B | 1.94B | 1.56B | 1.43B | 1.76B |
Cash Flow | ||||||
| Free Cash Flow | -140.00M | -4.00M | -53.00M | 219.00M | -29.85M | -29.54M |
| Operating Cash Flow | 94.00M | 271.00M | 246.00M | 438.00M | 138.46M | 124.80M |
| Investing Cash Flow | -486.00M | -541.00M | -333.00M | -228.00M | -174.28M | -99.97M |
| Financing Cash Flow | 389.00M | 298.00M | 17.00M | -86.00M | 56.65M | 34.75M |
MHP SE GDR RegS Technical Analysis
Negative
7.48
Price Trends
7.51
Negative
8.19
Negative
8.23
Negative
Market Momentum
-0.12
Negative
40.29
Neutral
18.81
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MHPC, the sentiment is Negative. The current price of 7.48 is above the 20-day moving average (MA) of 7.03, below the 50-day MA of 7.51, and below the 200-day MA of 8.23, indicating a bearish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 40.29 is Neutral, neither overbought nor oversold. The STOCH value of 18.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:MHPC.
MHP SE GDR RegS Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £800.18M | 8.84 | 5.75% | ― | ― | ― | |
65 Neutral | £2.68B | 17.01 | 14.99% | 2.25% | 9.52% | 18.08% | |
65 Neutral | £1.96B | 78.33 | 0.73% | 1.88% | 25.76% | -73.03% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | £12.76B | 13.63 | 8.44% | 3.45% | -2.16% | -24.87% | |
47 Neutral | $746.06M | 20.50 | 1.76% | 8.22% | 29.07% | -61.75% |
* Consumer Defensive Sector Average
GB:MHPC
MHP SE GDR RegS
6.97
0.93
15.40%
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GB:PRN
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327.00
-148.00
-31.16%
MHP SE GDR RegS Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
MHP SE Delivers Revenue Growth but Swings to Loss Amid War Disruption and European Expansion
Negative
Sep 28, 2026
MHP SE reported solid operational performance for the first half of 2026 despite a sharply deteriorating operating environment for Ukrainian agriculture, where intensified attacks on Black Sea ports and logistics infrastructure have disrupted expo...
Business Operations and StrategyRegulatory Filings and Compliance
MHP SE Deputy CEO Purchases Nearly USD 50,000 in GDRs
Positive
Jul 23, 2026
MHP SE has disclosed that Serhii Dobrohorskyi, Deputy Chief Executive Officer for Agribusiness, purchased Global Depositary Receipts in the company. The transaction, carried out via Interactive Brokers Group, Inc., totaled USD 49,995.40 for 6,097 ...
Business Operations and StrategyRegulatory Filings and Compliance
MHP SE Deputy CEO Buys GDRs in Market-Regulated Transaction
Positive
Jul 10, 2026
MHP SE has disclosed that Serhii Dobrohorskyi, Deputy Chief Executive Officer for Agribusiness, purchased 3,000 Global Depositary Receipts in the company. The transaction, executed on July 9, 2026 via Interactive Brokers, amounted to a total consi...
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.