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Record plc
(LSE:REC)
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Rating:68Neutral
Price Target:
51.00 p
▲(16.17% Upside)
Action:Reiterated
Date:09/23/26
The score is driven mainly by solid financial performance (strong profitability and cash generation, though with softer recent revenue/earnings and higher leverage) and supportive valuation (low P/E and high yield). These positives are tempered by weak technicals, with the stock trading below key moving averages and negative MACD signaling poor near-term momentum.
Positive Factors
Strong Profitability
Record’s consistently high gross margins and healthy operating profitability indicate an efficient asset-management model with substantial earnings conversion. This profitability provides resilience over the next several quarters and supports continued investment in client service, products, and distribution.
Negative Factors
Revenue Contraction
The reversal from strong 2022–2023 revenue growth to declines in 2025 and 2026 signals weaker recent business momentum. If this softer trajectory persists, it could constrain operating leverage, reduce reinvestment capacity, and make sustained earnings growth harder to achieve.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
Record’s consistently high gross margins and healthy operating profitability indicate an efficient asset-management model with substantial earnings conversion. This profitability provides resilience over the next several quarters and supports continued investment in client service, products, and distribution.
Read all positive factors
Record plc (REC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£89.14M
Dividend Yield7.66%
Average Volume (3M)220.62K
Price to Earnings (P/E)12.0
Beta (1Y)0.40
Revenue Growth-3.44%
EPS Growth-16.56%
CountryUK
Employees103
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.04
Shares Outstanding199,054,320
10 Day Avg. Volume338,798
30 Day Avg. Volume220,619
Financial Highlights & Ratios
PEG Ratio-0.78
Price to Book (P/B)3.69
Price to Sales (P/S)2.48
P/FCF Ratio10.87
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)0.04
Revenue Forecast (FY)£44.80M
Record plc Business Overview & Revenue Model
Company Description
Record plc is an international financial services firm that, through its various entities, specializes in providing global currency and derivatives management solutions. Its extensive operations span the United Kingdom, North America, Continental ...
How the Company Makes Money
Record plc primarily makes money by charging fees for managing client mandates and providing currency management services. Its core revenue stream is management fees earned on assets under management (AUM) across its currency overlay/hedging and s...
Record plc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
70
Positive
Cash Flow
81
Very Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.54M | 41.62M | 45.38M | 44.91M | 34.78M |
| Gross Profit | 37.64M | 41.14M | 45.30M | 44.08M | 33.52M |
| EBITDA | 11.57M | 11.86M | 13.71M | 14.98M | 11.73M |
| Net Income | 7.66M | 9.11M | 9.25M | 11.34M | 8.63M |
Balance Sheet | |||||
| Total Assets | 40.60M | 42.40M | 36.06M | 36.74M | 33.23M |
| Cash, Cash Equivalents and Short-Term Investments | 13.03M | 13.30M | 17.48M | 14.50M | 17.26M |
| Total Debt | 6.61M | 7.11M | 185.00K | 979.00K | 1.33M |
| Total Liabilities | 12.79M | 13.33M | 7.11M | 8.45M | 7.29M |
| Stockholders Equity | 27.20M | 29.06M | 28.95M | 28.29M | 25.93M |
Cash Flow | |||||
| Free Cash Flow | 9.24M | 4.86M | 12.24M | 11.21M | 10.99M |
| Operating Cash Flow | 9.40M | 7.35M | 13.05M | 12.44M | 11.40M |
| Investing Cash Flow | 1.82M | 7.09M | -3.36M | 7.04M | -3.51M |
| Financing Cash Flow | -9.91M | -10.58M | -10.43M | -13.04M | -11.53M |
Record plc Technical Analysis
Positive
43.90
Price Trends
43.44
Positive
44.59
Positive
48.81
Negative
Market Momentum
1.08
Negative
62.06
Neutral
84.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:REC, the sentiment is Positive. The current price of 43.9 is below the 20-day moving average (MA) of 43.93, above the 50-day MA of 43.44, and below the 200-day MA of 48.81, indicating a neutral trend. The MACD of 1.08 indicates Negative momentum. The RSI at 62.06 is Neutral, neither overbought nor oversold. The STOCH value of 84.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:REC.
Record plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £211.55M | 11.63 | 15.69% | 7.78% | 5.81% | 19.19% | |
73 Outperform | £400.67M | 21.29 | 33.94% | 4.09% | 20.14% | 15.61% | |
68 Neutral | £89.14M | 11.96 | 27.84% | 7.66% | -3.44% | -16.56% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | £114.45M | 8.93 | 11.90% | 10.58% | -22.86% | -56.06% | |
62 Neutral | £176.64M | 18.32 | 8.74% | 6.65% | -20.90% | -41.22% | |
60 Neutral | £127.90M | -15.02 | -4.78% | 3.28% | -2.25% | -350.00% |
* Financial Sector Average
GB:REC
Record plc
47.00
-8.92
-15.95%
GB:CLIG
City of London Investment
437.00
83.29
23.55%
GB:IPX
Impax Asset Management
94.50
-84.03
-47.07%
GB:LIO
Liontrust Asset Management
285.50
-7.30
-2.49%
GB:MERC
Mercia Asset Management
30.50
1.53
5.28%
GB:TAM
Tatton Asset Management Plc
660.00
-66.10
-9.10%
Record plc Corporate Events
Business Operations and StrategyFinancial Disclosures
Record plc AUM Hits Record $130.3bn on Strong Net Inflows
Positive
Oct 22, 2026
Record plc reported a 7% increase in assets under management to a record $130.3 billion for the quarter ended 30 September 2026, driven by $10.4 billion of net inflows. Growth was led by new mandates in Absolute Return and Private Markets, while r...
Regulatory Filings and Compliance
Record PLC Senior Managers Add Shares Via Incentive Plan
Positive
Sep 30, 2026
Record plc has disclosed that senior managers Thomas Arnold, head of client team, and Othman Boukrami, CEO of Record Currency Management Limited, have increased their shareholdings through the company’s Share Incentive Plan. On 28 September ...
Business Operations and StrategyExecutive/Board Changes
Record plc appoints new CFO to drive strategic expansion
Positive
Sep 22, 2026
Record plc has appointed Albert Soleiman as Chief Financial Officer and to its Board of Directors, effective 28 September 2026, as it accelerates its transition into a broader financial services group. Soleiman brings over two decades of experienc...
Other
Record plc Senior Managers Add to Holdings Under Share Incentive Plan
Positive
Sep 4, 2026
Record plc has disclosed that senior managers Thomas Arnold, head of the client team, and Othman Boukrami, CEO of Record Currency Management Limited, have acquired shares under the company’s Share Incentive Plan. Each manager purchased 507 o...
Regulatory Filings and Compliance
Record plc CEO Exercises Share Options and Sells Shares to Cover Costs
Neutral
Aug 12, 2026
Record plc disclosed that chief executive officer Jan Witte has exercised options over 150,000 ordinary shares in the company at an exercise price of 40 pence per share, under the Record plc Share Scheme. The transaction was carried out on 10 Augu...
DividendsRegulatory Filings and Compliance
Record plc Executives Add Shares Through Dividend Reinvestment Plan
Positive
Jul 29, 2026
Record plc has disclosed that three senior managers acquired additional ordinary shares in the company through its Dividend Reinvestment Plan, as part of the Record Share Incentive Plan. Head of Client Team Thomas Arnold, Head of Client Onboarding...
Business Operations and StrategyRegulatory Filings and Compliance
Record plc Senior Managers Add Shares Through Incentive Plan
Positive
Jul 29, 2026
Record plc has disclosed that senior managers Thomas Arnold, head of the client team, and Othman Boukrami, CEO of Record Currency Management Limited, have increased their holdings in the company through the Record plc Share Incentive Plan. The tra...
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.