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MS International
(LSE:MSI)
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Rating:66Neutral
Price Target:
1,696.00 p
▲(0.36% Upside)
Action:Reiterated
Date:10/02/26
The score is supported primarily by strong financial positioning (low leverage, growing equity) and generally improved profitability versus earlier years, but it is held back by volatile cash-flow history and softer 2026 revenue/earnings versus 2025. Technical signals are neutral-to-soft with negative MACD, and valuation is moderate with a ~23.4 P/E and a modest ~1.66% dividend yield.
Positive Factors
Conservative Balance Sheet
Very low leverage limits balance-sheet risk and preserves financial flexibility for inventory, distribution capacity, and other operating needs. The steady increase in equity also strengthens the company’s ability to absorb weaker periods and support growth without relying heavily on debt.
Negative Factors
Revenue Momentum Softened
The 2026 revenue contraction interrupts several years of expansion and suggests that demand or sales momentum has become less supportive. A weaker top line can reduce operating leverage, limit the benefits of MSI’s distribution scale, and make future profit growth more dependent on margins or efficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage limits balance-sheet risk and preserves financial flexibility for inventory, distribution capacity, and other operating needs. The steady increase in equity also strengthens the company’s ability to absorb weaker periods and support growth without relying heavily on debt.
Read all positive factors
MS International (MSI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£256.43M
Dividend Yield1.7%
Average Volume (3M)25.70K
Price to Earnings (P/E)22.8
Beta (1Y)0.71
Revenue Growth-2.12%
EPS Growth-25.00%
CountryUK
Employees437
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)0.67
Shares Outstanding16,441,639
10 Day Avg. Volume35,601
30 Day Avg. Volume25,703
Financial Highlights & Ratios
PEG Ratio-0.98
Price to Book (P/B)4.01
Price to Sales (P/S)2.38
P/FCF Ratio11.76
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
MS International Business Overview & Revenue Model
Company Description
Established in 1960 and headquartered in Doncaster, UK, MS INTERNATIONAL plc is an international engineering company that develops, produces, distributes, and maintains a variety of specialized engineering solutions. Its reach extends across the U...
How the Company Makes Money
MSI primarily makes money by purchasing surfacing products from third-party suppliers (including international sources), holding inventory, and reselling these products at a markup through its distribution and showroom network. Its revenue is gene...
MS International Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2023 | Apr 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 115.01M | 117.50M | 109.58M | 83.96M | 74.52M |
| Gross Profit | 39.53M | 40.00M | 33.87M | 23.40M | 20.40M |
| EBITDA | 17.70M | 22.68M | 18.02M | 7.53M | 8.04M |
| Net Income | 11.02M | 14.53M | 11.50M | 4.12M | 4.93M |
Balance Sheet | |||||
| Total Assets | 127.78M | 134.14M | 128.72M | 79.31M | 80.59M |
| Cash, Cash Equivalents and Short-Term Investments | 46.53M | 23.75M | 35.51M | 15.25M | 19.25M |
| Total Debt | 910.00K | 414.00K | 804.00K | 1.21M | 1.51M |
| Total Liabilities | 59.47M | 72.95M | 77.92M | 38.24M | 42.02M |
| Stockholders Equity | 68.31M | 61.19M | 50.80M | 41.08M | 38.58M |
Cash Flow | |||||
| Free Cash Flow | 23.30M | -7.00M | 31.70M | -2.37M | -2.86M |
| Operating Cash Flow | 26.01M | -3.25M | 36.60M | -397.00K | -99.00K |
| Investing Cash Flow | -670.00K | -338.00K | -8.98M | -1.73M | -2.53M |
| Financing Cash Flow | -4.06M | -8.03M | -4.38M | -1.94M | -1.72M |
MS International Technical Analysis
Neutral
1690.00
Price Trends
1561.63
Negative
1524.62
Positive
1453.57
Positive
Market Momentum
-14.02
Positive
46.81
Neutral
83.84
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MSI, the sentiment is Neutral. The current price of 1690 is above the 20-day moving average (MA) of 1551.50, above the 50-day MA of 1561.63, and above the 200-day MA of 1453.57, indicating a neutral trend. The MACD of -14.02 indicates Positive momentum. The RSI at 46.81 is Neutral, neither overbought nor oversold. The STOCH value of 83.84 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:MSI.
MS International Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | £206.77M | 10.38 | 29.66% | 2.37% | 43.98% | 97.22% | |
75 Outperform | £938.65M | 8.50 | 17.75% | 3.86% | -6.21% | 0.75% | |
66 Neutral | £256.43M | 22.84 | 16.56% | 1.70% | -2.12% | -25.00% | |
65 Neutral | £298.43M | 26.98 | 4.87% | 1.70% | 5.44% | 37.71% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | £16.90M | -8.91 | -5.29% | 35.96% | -8.42% | 63.81% | |
51 Neutral | £87.15M | -3.68 | -25.40% | 10.44% | -2.82% | -66.89% |
* Industrials Sector Average
GB:MSI
MS International
1,530.00
80.56
5.56%
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MS International Corporate Events
Business Operations and Strategy
MS International Wins First Multi-Year U.S. Navy Contract for Naval Gun Systems
Positive
Oct 1, 2026
MS International’s defence subsidiary in Rock Hill, South Carolina has secured its first multi-year contract with the U.S. Navy, awarded on a sole-source basis by NAVSEA. The three-year deal covers continued supply of MK88 MOD4 stabilised gu...
Business Operations and StrategyShareholder Meetings
MS International Secures Full Shareholder Approval at AGM
Positive
Sep 9, 2026
MS International PLC has confirmed that all resolutions put to shareholders at its annual general meeting held on 9 September 2026 were duly passed, signalling broad investor support for the company’s current governance and strategic directi...
Business Operations and StrategyM&A TransactionsShareholder Meetings
MS International Signals Progress on Asset Sales and Secures New NATO Defence Contract
Positive
Sep 9, 2026
MS International used its Annual General Meeting to update investors on the planned sale of its recently merged Petrol Station Superstructures and Branding business, reiterating its aim to complete a transaction shortly and signalling that it will...
Business Operations and Strategy
MS INTERNATIONAL Wins €19.4m NATO Contract for Advanced Naval Gun Systems
Positive
Aug 24, 2026
MS INTERNATIONAL’s defence arm, MSI Defence Systems, has secured a €19.4 million contract from a NATO nation to supply three MSI-DS 30mm naval gun systems with counter-uncrewed aerial system capabilities. The contract underscores the f...
Business Operations and StrategyRegulatory Filings and Compliance
MS International Updates Voting Rights After Treasury-Funded Option Exercise
Neutral
Aug 5, 2026
MS International plc has satisfied the exercise of 4,150 employee share options at £7.20 per share using ordinary shares held in treasury, rather than issuing new shares. This approach avoids dilution of existing shareholders while aligning e...
Business Operations and StrategyRegulatory Filings and Compliance
MS International Updates Share Capital After Employee Option Exercise
Neutral
Jul 22, 2026
MS International plc has confirmed that an employee has exercised 1,600 options over ordinary shares at an exercise price of £6.24, with the shares being satisfied from existing treasury stock rather than through the issuance of new equity. T...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
MS International Reshapes Leadership with New Chairman and CEO
Positive
Jul 16, 2026
MS International has reshaped its leadership structure, appointing seasoned adviser Anthony Wreford as independent non-executive chairman and promoting Michael O’Connell to group CEO, following the departure of long-time executive chairman M...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresM&A Transactions
MS International strengthens balance sheet as it sharpens defence focus and reshapes portfolio
Neutral
Jul 16, 2026
MS International reported group revenues broadly flat at £115.01m for 2025/26, with profit before tax falling to £15.06m and earnings per share down to 67.4p, as delays in global defence procurement weighed on results. The balance sheet ...
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.