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Next plc
(LSE:NXT)
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Rating:80Outperform
Price Target:
18,009.00 p
â–˛(15.18% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance (robust revenue growth, solid margins, improving leverage, and strong cash generation) and reinforced by bullish technicals (price above key moving averages with positive momentum). Valuation is reasonable with a supportive dividend yield, but margin variability and remaining debt keep the score from being higher.
Positive Factors
Revenue Growth
Sustained revenue expansion indicates strong customer demand and effective execution across Next’s omnichannel clothing, homewares and partner-brand platforms, providing a durable base for operating leverage and continued scale over the medium term.
Negative Factors
Margin Variability
Recent margin compression suggests profitability is sensitive to product mix, costs or operational conditions. If this persists, revenue growth may translate less effectively into earnings and reduce the durability of Next’s historically strong returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained revenue expansion indicates strong customer demand and effective execution across Next’s omnichannel clothing, homewares and partner-brand platforms, providing a durable base for operating leverage and continued scale over the medium term.
Read all positive factors
Next plc (NXT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
ÂŁ17.78B
Dividend Yield4.03%
Average Volume (3M)376.76K
Price to Earnings (P/E)20.5
Beta (1Y)0.70
Revenue Growth12.80%
EPS Growth23.60%
CountryUK
Employees31,589
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)7.40
Shares Outstanding119,656,815
10 Day Avg. Volume363,648
30 Day Avg. Volume376,763
Financial Highlights & Ratios
PEG Ratio0.74
Price to Book (P/B)9.33
Price to Sales (P/S)2.25
P/FCF Ratio15.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
ÂŁ16,299.64Price Target Upside4.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)8.12
Revenue Forecast (FY)ÂŁ7.26B
Next plc Business Overview & Revenue Model
Company Description
NEXT plc operates as a prominent retailer specializing in apparel, footwear, and homeware, with its market presence extending across the United Kingdom, continental Europe, the Middle East, Asia, and other global territories. The company's diverse...
How the Company Makes Money
Next plc primarily makes money by selling products and services through several complementary streams. (1) Retail product sales: The largest source of revenue comes from selling Next-branded and third-party products across clothing and home catego...
Next plc Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | Jan 2026 | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.90B | 6.12B | 5.49B | 5.03B | 4.63B |
| Gross Profit | 3.05B | 2.64B | 2.42B | 2.21B | 1.98B |
| EBITDA | 1.62B | 1.39B | 1.35B | 1.17B | 1.13B |
| Net Income | 888.50M | 736.10M | 802.30M | 711.70M | 677.50M |
Balance Sheet | |||||
| Total Assets | 4.92B | 4.87B | 4.72B | 3.98B | 3.98B |
| Cash, Cash Equivalents and Short-Term Investments | 102.60M | 200.40M | 188.30M | 105.00M | 468.50M |
| Total Debt | 1.81B | 1.87B | 1.92B | 1.92B | 2.11B |
| Total Liabilities | 3.13B | 3.12B | 3.09B | 2.82B | 2.97B |
| Stockholders Equity | 1.66B | 1.64B | 1.51B | 1.16B | 1.01B |
Cash Flow | |||||
| Free Cash Flow | 1.00B | 976.40M | 932.10M | 494.30M | 626.70M |
| Operating Cash Flow | 1.14B | 1.13B | 1.12B | 740.40M | 893.00M |
| Investing Cash Flow | -119.90M | -181.20M | -334.40M | -271.40M | -292.50M |
| Financing Cash Flow | -1.13B | -939.60M | -663.30M | -727.10M | -993.40M |
Next plc Technical Analysis
Positive
15635.00
Price Trends
14950.10
Positive
14052.92
Positive
13541.96
Positive
Market Momentum
166.83
Negative
60.54
Neutral
81.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NXT, the sentiment is Positive. The current price of 15635 is above the 20-day moving average (MA) of 15350.75, above the 50-day MA of 14950.10, and above the 200-day MA of 13541.96, indicating a bullish trend. The MACD of 166.83 indicates Negative momentum. The RSI at 60.54 is Neutral, neither overbought nor oversold. The STOCH value of 81.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:NXT.
Next plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ÂŁ17.78B | 20.49 | 52.86% | 4.25% | 12.80% | 23.60% | |
62 Neutral | ÂŁ8.17B | 32.07 | 8.86% | 1.10% | 25.02% | -13.12% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | £3.58B | 9.70 | 15.67% | ― | 8.13% | 28.46% | |
56 Neutral | £319.77M | -2.73 | 415.28% | ― | 16.03% | 69.69% | |
50 Neutral | £3.88B | 188.85 | 2.29% | ― | -1.67% | ― | |
43 Neutral | £501.33M | -2.16 | -155.17% | ― | -15.00% | 21.71% |
* Consumer Cyclical Sector Average
GB:NXT
Next plc
15,575.00
4,213.51
37.09%
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Next plc Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Next plc Discloses Share Purchase by Independent Director Under MAR Rules
Positive
Aug 12, 2026
Next plc reported a transaction involving board member Jeni Mundy, an independent non-executive director subject to U.K. Market Abuse Regulation disclosure rules. The clothing and homeware retailer operates a large U.K. high street and online pres...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc launches non-discretionary share buyback through closed period
Positive
Aug 10, 2026
Next plc has launched an irrevocable, non-discretionary share buyback programme under which it will repurchase its own shares for cancellation between 11 August and 16 September 2026, including during its regulatory closed period. The initiative, ...
Regulatory Filings and Compliance
Next plc executives disclose multimillion-pound share disposals
Neutral
Aug 7, 2026
Next plc has disclosed share transactions by senior management in line with U.K. Market Abuse Regulation reporting requirements. The filing underscores the company’s adherence to governance and transparency standards around dealings by perso...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Next plc lifts profit outlook as strong Q2 sales and buybacks boost guidance
Positive
Aug 5, 2026
Next plc reported a strong second quarter, with full price sales rising 9.2% year on year, significantly ahead of its 4.0% forecast, driven by robust international growth, resilient UK demand and higher-than-expected profitable marketing spend. Th...
Business Operations and StrategyRegulatory Filings and Compliance
Next sets total voting rights at 119.7 million shares
Neutral
Aug 3, 2026
Next plc has confirmed that as of 31 July 2026 its registered share capital comprises 119,656,811 ordinary shares of 10 pence each, all carrying equal voting rights, with no shares held in treasury. The company noted that this total voting rights ...
Regulatory Filings and Compliance
Next plc Confirms Total Voting Rights and Share Capital Structure
Neutral
Jul 1, 2026
Next plc reported that, as of 30 June 2026, its registered share capital comprised 119,656,811 ordinary shares of 10 pence each, all carrying equal voting rights and with no shares held in treasury. The disclosure clarifies the company’s tot...
Regulatory Filings and Compliance
Next plc CFO Disposes of Shares in Regulatory Disclosure
Neutral
Jun 26, 2026
Next plc disclosed a share transaction involving its chief financial officer, Jonathan Blanchard, in line with UK Market Abuse Regulation reporting requirements. The filing states that Blanchard, classified as a person discharging managerial respo...
Regulatory Filings and Compliance
Next plc Updates Total Voting Rights and Share Capital Structure
Neutral
Jun 1, 2026
Next plc has confirmed that as of 29 May 2026 its issued share capital stands at 119,656,811 ordinary shares of 10 pence each, with all shares carrying equal voting rights and none held in treasury. The clarified share count provides investors wit...
Stock BuybackRegulatory Filings and Compliance
Next Reduces Share Capital With Targeted Buyback of 46,889 Shares
Neutral
May 26, 2026
Next plc has bought back 46,889 of its ordinary shares on the market for cancellation, at a volume-weighted average price of 13,176.0768p, leaving 119,656,811 shares in issue. The transaction, executed via UBS across venues including the LSE, CHIX...
Stock Buyback
Next plc Cancels 85,000 Shares After Market Buyback
Positive
May 22, 2026
Next plc has reduced its share count after repurchasing 85,000 ordinary shares on 22 May 2026, at a volume-weighted average price of 13,088.1826p, for immediate cancellation. The buyback, executed via UBS across multiple trading venues, trims the ...
Stock BuybackRegulatory Filings and Compliance
Next Cuts Share Count with 85,000-Stock Buyback and Cancellation
Positive
May 21, 2026
Next plc has executed an on-market buyback of 85,000 ordinary shares at a volume-weighted average price of 13,004.2421 pence, with all repurchased shares to be cancelled, reducing its registered share capital to 119,788,700. The transaction, carri...
Business Operations and StrategyExecutive/Board Changes
Next plc Grants Long-Term Share Awards to Senior Executives
Positive
May 21, 2026
Next plc has granted conditional awards of ordinary shares under its Long Term Incentive Plan to key executives, including Chief Executive Lord Wolfson of Aspley Guise, Chief Financial Officer Jonathan Blanchard, and other senior directors. The aw...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Next shareholders back all resolutions at 2026 AGM
Positive
May 21, 2026
Next plc reported that shareholders approved all resolutions at its 2026 annual general meeting, including adoption of the latest accounts, remuneration policy and report, and a final dividend of 181 pence per share. The meeting also confirmed the...
Stock BuybackRegulatory Filings and Compliance
Next plc tightens share base with latest buyback and cancellation
Positive
May 20, 2026
Next plc has cancelled 90,000 of its ordinary 10p shares after buying them back on the open market at a volume-weighted average price of 12,818.8785p. The repurchase, executed through UBS AG’s London branch across multiple trading venues, re...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 85,000 Shares in Latest Buyback
Neutral
May 19, 2026
Next plc said it has bought back 85,000 ordinary shares on the market for cancellation, at a volume-weighted average price of 12,865.9633p per share, through its broker UBS AG London Branch. Following the transaction, the company’s registere...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 85,000 Shares After On‑Market Buyback
Positive
May 18, 2026
Next plc has executed an on-market share repurchase of 85,000 ordinary shares, which will be cancelled, reducing its issued share capital to 120,048,700 shares. The buyback, conducted through UBS AG’s London branch across multiple trading ve...
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.