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Norcros
(LSE:NXR)
Select Model
Select Model
Rating:54Neutral
Price Target:
305.00 p
▼(-5.86% Downside)
Action:Reiterated
Date:08/07/26
The score is held back primarily by weakened profitability/near break-even net income and an extremely high P/E ratio. Offsetting these negatives are resilient cash generation and a bullish trend with positive MACD, though overbought momentum signals (RSI/Stoch) temper the technical contribution.
Positive Factors
Positive Revenue Growth
Positive revenue growth indicates that Norcros is still expanding its sales base across bathroom, kitchen, tile and installation products. If sustained, this supports operating scale, strengthens channel relevance and provides a foundation for rebuilding profitability over the next several quarters.
Negative Factors
Near-Break-Even Net Income
Near-break-even net income materially weakens earnings quality and reduces the buffer available to absorb operating setbacks. It also limits the reliability of reported profits as a funding source, making durable margin recovery essential for stronger returns and financial resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Revenue Growth
Positive revenue growth indicates that Norcros is still expanding its sales base across bathroom, kitchen, tile and installation products. If sustained, this supports operating scale, strengthens channel relevance and provides a foundation for rebuilding profitability over the next several quarters.
Read all positive factors
Norcros (NXR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£269.05M
Dividend Yield3.78%
Average Volume (3M)101.82K
Price to Earnings (P/E)879.4
Beta (1Y)0.92
Revenue Growth6.87%
EPS Growth-91.28%
CountryUK
Employees2,045
SectorIndustrials
Sector Strength72
IndustryConstruction Materials
Share Statistics
EPS (TTM)<0.01
Shares Outstanding90,241,510
10 Day Avg. Volume37,995
30 Day Avg. Volume101,824
Financial Highlights & Ratios
PEG Ratio-8.96
Price to Book (P/B)1.25
Price to Sales (P/S)0.63
P/FCF Ratio9.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£440.00Price Target Upside35.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.38
Revenue Forecast (FY)£444.07M
Norcros Business Overview & Revenue Model
Company Description
Norcros plc stands as a leading designer, manufacturer, and distributor of a wide array of bathroom and kitchen products, operating across the United Kingdom and South Africa. The company's extensive portfolio includes electric and mixer showers, ...
How the Company Makes Money
Norcros makes money by selling bathroom and kitchen-related building products to a variety of customers (trade installers, retailers, and project/specification buyers such as developers and contractors). Revenue is generated through two main opera...
Norcros Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 393.40M | 368.10M | 392.10M | 441.00M | 396.30M |
| Gross Profit | 182.50M | 160.10M | 165.00M | 169.30M | 140.80M |
| EBITDA | 56.10M | 18.70M | 55.30M | 54.50M | 48.80M |
| Net Income | 300.00K | 3.50M | 26.80M | 16.80M | 25.70M |
Balance Sheet | |||||
| Total Assets | 444.60M | 388.00M | 425.30M | 446.20M | 359.50M |
| Cash, Cash Equivalents and Short-Term Investments | 32.20M | 22.70M | 30.80M | 29.00M | 27.40M |
| Total Debt | 128.90M | 80.10M | 90.30M | 103.60M | 42.80M |
| Total Liabilities | 246.50M | 180.10M | 202.90M | 235.80M | 159.20M |
| Stockholders Equity | 198.10M | 207.90M | 222.40M | 210.40M | 200.30M |
Cash Flow | |||||
| Free Cash Flow | 25.50M | 11.60M | 29.30M | 18.50M | 9.20M |
| Operating Cash Flow | 32.30M | 18.50M | 36.60M | 24.50M | 14.60M |
| Investing Cash Flow | -4.10M | -3.40M | -7.30M | -84.30M | -5.40M |
| Financing Cash Flow | -19.10M | -23.40M | -26.00M | 64.30M | -11.70M |
Norcros Technical Analysis
Negative
324.00
Price Trends
316.50
Negative
300.10
Negative
305.61
Negative
Market Momentum
-6.10
Positive
41.51
Neutral
38.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NXR, the sentiment is Negative. The current price of 324 is above the 20-day moving average (MA) of 311.40, above the 50-day MA of 316.50, and above the 200-day MA of 305.61, indicating a bearish trend. The MACD of -6.10 indicates Positive momentum. The RSI at 41.51 is Neutral, neither overbought nor oversold. The STOCH value of 38.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:NXR.
Norcros Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £653.89M | 18.91 | 5.19% | 4.97% | 4.33% | -30.43% | |
68 Neutral | £82.28M | 11.19 | 16.97% | 4.83% | -5.55% | -22.10% | |
68 Neutral | £127.62M | 23.13 | 5.51% | 5.10% | 10.68% | -25.87% | |
68 Neutral | £526.20M | 13.84 | 20.94% | 7.10% | -3.52% | -10.90% | |
65 Neutral | £183.39M | 14.16 | 23.96% | 5.62% | -5.92% | 156.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | £269.05M | 879.41 | 0.15% | 3.78% | 6.87% | -91.28% |
* Industrials Sector Average
GB:NXR
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Norcros Corporate Events
DividendsRegulatory Filings and Compliance
Norcros Discloses Director Share Acquisition Under Dividend Reinvestment Plan
Positive
Aug 10, 2026
Norcros has disclosed a director share dealing under its Dividend Re-Investment Plan, confirming that non-executive director Stefan Allanson acquired 277 ordinary shares on 4 August 2026 through dividend reinvestment at 324.356 pence per share. Fo...
Regulatory Filings and Compliance
Norcros Confirms Updated Voting Rights and Share Capital
Neutral
Jul 31, 2026
Norcros plc has confirmed that, as of 31 July 2026, its issued share capital comprises 90,241,508 ordinary shares of ten pence each, all admitted to trading and each carrying one voting right at general meetings of the company.The company stated t...
Business Operations and StrategyExecutive/Board Changes
Norcros Grants Performance-Linked Share Options to Top Executives
Positive
Jul 28, 2026
Norcros has granted new nil-cost share options under its Approved Performance Share Plan to Chief Executive Officer Thomas Willcocks and Interim Chief Financial Officer Andy Hamer, tied to a three-year performance period. Vesting will depend on ea...
Executive/Board ChangesRegulatory Filings and Compliance
Norcros Executives Boost Holdings After Nil-Cost Option Exercises
Positive
Jul 27, 2026
Norcros has reported director dealings involving CEO Thomas Willcocks and Interim CFO Andrew Hamer following the exercise of nil-cost share options granted in July 2023 under its Approved Performance Share Plan. Willcocks exercised options over 10...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresShareholder Meetings
Norcros Shareholders Back All AGM Resolutions, Strengthening Capital Flexibility
Positive
Jul 22, 2026
Norcros plc reported that all resolutions at its Annual General Meeting on 22 July 2026 were passed by the required majority, confirming shareholder approval of the audited accounts for the 53-week period to 5 April 2026 and the declaration of a f...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Norcros posts solid Q1 revenue growth as Fibo acquisition boosts sales
Positive
Jul 22, 2026
Norcros plc, the leading branded bathroom products group in the UK and Ireland, reported a solid start to its new financial year, underpinned by its portfolio of mid-premium, design-led bathroom brands and a capital-light, decentralised operating ...
Business Operations and StrategyRegulatory Filings and Compliance
Norcros Updates Market on Share Capital and Voting Rights
Positive
Jul 3, 2026
Norcros has confirmed that, as of 3 July 2026, its issued share capital comprises 90,228,345 ordinary shares of ten pence each, all carrying one vote and with no shares held in treasury. The company highlighted that this updated share capital figu...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Norcros publishes 2026 annual report and sets July AGM
Neutral
Jun 22, 2026
Norcros, a London-listed specialist in mid-premium, design-led bathroom products, operates a portfolio of brands across the UK, Ireland, wider Europe and South Africa, including Triton, Merlyn and Tile Africa. The group runs a decentralised model ...
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.