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Marshalls
(LSE:MSLH)
Select Model
Select Model
Rating:58Neutral
Price Target:
164.00 p
▼(-1.56% Downside)
Action:Reiterated
Date:09/29/26
The score is driven primarily by mixed financial performance: strong 2025 revenue growth and an improving, moderate-leverage balance sheet are offset by weaker profitability and a notable drop in operating and free cash flow. Technicals are mildly supportive with price above major moving averages, but momentum signals are not fully confirmed. Valuation is neutral overall, with a moderate P/E balanced by an attractive dividend yield.
Positive Factors
Off-price retail model
The off-price model combines value pricing with a frequently changing assortment, creating a differentiated shopping experience that can encourage repeat traffic. Opportunistic purchasing and disciplined markdown management may support merchandise margins while allowing the business to adapt its inventory to available branded supply.
Negative Factors
Thinner profitability
The sharp decline in net margin shows that stronger revenue has not translated proportionately into earnings. Thin profitability leaves less room to absorb cost pressure or merchandising mistakes, and it limits the amount of internally generated profit available to fund growth and strengthen the business.
Read all positive and negative factors
Positive Factors
Negative Factors
Off-price retail model
The off-price model combines value pricing with a frequently changing assortment, creating a differentiated shopping experience that can encourage repeat traffic. Opportunistic purchasing and disciplined markdown management may support merchandise margins while allowing the business to adapt its inventory to available branded supply.
Read all positive factors
Marshalls (MSLH) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£438.43M
Dividend Yield4.02%
Average Volume (3M)1.29M
Price to Earnings (P/E)21.3
Beta (1Y)1.30
Revenue Growth-0.25%
EPS Growth-12.96%
CountryUK
Employees2,348
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.08
Shares Outstanding252,968,730
10 Day Avg. Volume1,356,980
30 Day Avg. Volume1,291,633
Financial Highlights & Ratios
PEG Ratio-0.60
Price to Book (P/B)0.70
Price to Sales (P/S)0.72
P/FCF Ratio19.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£228.25Price Target Upside37.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.15
Revenue Forecast (FY)£640.51M
Marshalls Business Overview & Revenue Model
Company Description
Marshalls plc is a leading producer and provider of hard landscaping materials, operating both within the United Kingdom and on an international scale. The company offers a wide selection of products for home and garden environments, including ele...
How the Company Makes Money
Marshalls makes money primarily through retail sales of merchandise in its physical stores (and, where applicable, through affiliated e-commerce channels operated by its parent). The core revenue model is off-price retailing: the company buys inve...
Marshalls Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
72
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 790.15M | 632.10M | 619.20M | 671.20M | 719.37M | 589.26M |
| Gross Profit | 216.50M | 209.70M | 391.50M | 220.10M | 250.82M | 199.49M |
| EBITDA | 102.40M | 83.50M | 93.20M | 84.30M | 90.08M | 104.17M |
| Net Income | 25.15M | 14.40M | 31.00M | 18.60M | 26.80M | 54.81M |
Balance Sheet | ||||||
| Total Assets | 1.07B | 1.04B | 1.08B | 1.11B | 1.21B | 595.97M |
| Cash, Cash Equivalents and Short-Term Investments | 6.40M | 4.90M | 18.90M | 34.50M | 56.26M | 41.21M |
| Total Debt | 181.70M | 181.90M | 188.20M | 252.10M | 292.90M | 82.33M |
| Total Liabilities | 401.40M | 385.70M | 414.80M | 472.80M | 547.80M | 251.66M |
| Stockholders Equity | 670.80M | 655.70M | 661.30M | 641.30M | 660.29M | 343.33M |
Cash Flow | ||||||
| Free Cash Flow | 42.40M | 22.90M | 67.60M | 56.90M | 55.19M | 43.62M |
| Operating Cash Flow | 54.70M | 38.90M | 76.80M | 77.70M | 85.34M | 65.54M |
| Investing Cash Flow | -13.80M | -15.70M | -9.80M | -18.20M | -114.94M | -7.03M |
| Financing Cash Flow | -51.30M | -37.00M | -82.70M | -81.10M | 44.35M | -120.95M |
Marshalls Technical Analysis
Positive
166.60
Price Trends
162.23
Positive
157.13
Positive
149.76
Positive
Market Momentum
4.06
Negative
56.10
Neutral
56.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MSLH, the sentiment is Positive. The current price of 166.6 is below the 20-day moving average (MA) of 168.16, above the 50-day MA of 162.23, and above the 200-day MA of 149.76, indicating a bullish trend. The MACD of 4.06 indicates Negative momentum. The RSI at 56.10 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MSLH.
Marshalls Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £1.15B | 14.13 | 6.73% | 4.62% | 7.88% | -9.34% | |
66 Neutral | £63.92M | 17.41 | 4.06% | 6.52% | -7.01% | -28.77% | |
66 Neutral | £1.37B | 15.35 | 10.54% | ― | 4.46% | 100.00% | |
65 Neutral | £324.06M | 18.94 | 7.98% | 3.66% | -4.66% | 16.91% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £438.43M | 21.30 | 3.79% | 4.02% | -0.25% | -12.96% | |
49 Neutral | £318.58M | -13.93 | -6.19% | 2.48% | -10.12% | -287.99% |
* Basic Materials Sector Average
GB:MSLH
Marshalls
174.20
13.34
8.29%
GB:FORT
Forterra
163.80
-10.28
-5.91%
GB:IBST
Ibstock
80.65
-53.21
-39.75%
GB:MBH
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70.50
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-16.14%
GB:SRC
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123.30
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6.85%
GB:BREE
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330.00
2.08
0.63%
Marshalls Corporate Events
Regulatory Filings and Compliance
Marshalls CFO Increases Stake Via Employee Share Purchase Plan
Neutral
Sep 10, 2026
Marshalls plc has disclosed a transaction involving its Chief Financial Officer, Justin Lockwood, under U.K. market rules for persons discharging managerial responsibilities. The notification details his participation in the Marshalls plc Employee...
Regulatory Filings and Compliance
Marshalls CEO Simon Bourne Buys Shares Under Employee Plan
Positive
Sep 10, 2026
Marshalls plc has disclosed that its chief executive officer, Simon Bourne, acquired ordinary shares in the company under its Employee Share Purchase Plan. The transaction involved the purchase of 94 shares at a price of £1.59 per share on 3 ...
Other
Marshalls Non-Executive Director Purchases Shares on London Market
Neutral
Aug 11, 2026
Marshalls plc has disclosed that non-executive director Paul Inman has purchased 2,873 ordinary shares of 25 pence each in the company at a price of £1.72 per share. The transaction, executed on 11 August 2026 on the London Stock ExchangeR...
Regulatory Filings and Compliance
Marshalls CFO Buys Shares Under Employee Purchase Plan
Positive
Aug 10, 2026
Marshalls plc disclosed that its Chief Financial Officer, Justin Lockwood, purchased 89 ordinary shares under the company’s 2015 Employee Share Purchase Plan. The shares, each carrying voting rights, were acquired on 3 August 2026 at £1...
Regulatory Filings and Compliance
Marshalls CEO Simon Bourne Buys Shares Under Employee Plan
Positive
Aug 10, 2026
Marshalls plc disclosed that Chief Executive Officer Simon Bourne purchased 88 ordinary shares under the Marshalls plc Employee Share Purchase Plan 2015. The transaction, executed on August 3, 2026 at a price of £1.68 per share on the London ...
Business Operations and StrategyDividendsFinancial Disclosures
Marshalls lifts profit and dividend as self-help drives resilience in subdued markets
Positive
Aug 10, 2026
Marshalls plc reported a resilient first-half 2026 performance in challenging construction markets, with revenue broadly flat at £317.8 million but adjusted operating profit up 8.1% to £30.7 million and adjusted EPS rising 14.4% to 7.6 p...
Business Operations and Strategy
Marshalls Plans Live Investor Presentation to Deepen Market Engagement
Positive
Aug 7, 2026
Marshalls plc, the diversified UK building products and sustainable solutions manufacturer, will host a live interactive investor presentation on the Engage Investor platform on 21 August 2026 at 9:00 a.m. BST. The company serves customers across ...
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.