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FW Thorpe Plc
(LSE:TFW)
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Rating:76Outperform
Price Target:
296.00 p
▲(16.08% Upside)
Action:Reiterated
Date:10/04/26
The score is driven primarily by strong financial resilience (very conservative balance sheet and solid profitability), supported by attractive valuation (low P/E and a moderate dividend). Offsetting these positives are neutral technicals and fundamental momentum concerns, including recent revenue contraction and weaker/volatile free cash flow in 2026.
Positive Factors
Very low leverage and strong financial flexibility
A conservative balance sheet gives FW Thorpe meaningful resilience through weaker demand and preserves flexibility to fund investment, maintain dividends, or pursue opportunities. Growing equity and steady returns on equity further indicate that the group has built financial strength without relying heavily on debt.
Negative Factors
Revenue contraction and weakening demand momentum
The shift from earlier expansion to declining revenue signals weaker demand across the group’s lighting markets and reduces the near-term operating leverage available from its established cost base. If the contraction persists, it could eventually weaken margins, returns on equity, and investment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and strong financial flexibility
A conservative balance sheet gives FW Thorpe meaningful resilience through weaker demand and preserves flexibility to fund investment, maintain dividends, or pursue opportunities. Growing equity and steady returns on equity further indicate that the group has built financial strength without relying heavily on debt.
Read all positive factors
FW Thorpe Plc (TFW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£291.36M
Dividend Yield2.72%
Average Volume (3M)62.91K
Price to Earnings (P/E)10.8
Beta (1Y)0.15
Revenue Growth-1.30%
EPS Growth10.28%
CountryUK
Employees900
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.24
Shares Outstanding112,061,905
10 Day Avg. Volume49,483
30 Day Avg. Volume62,907
Financial Highlights & Ratios
PEG Ratio1.16
Price to Book (P/B)1.48
Price to Sales (P/S)1.67
P/FCF Ratio11.42
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
FW Thorpe Plc Business Overview & Revenue Model
Company Description
FW Thorpe Plc, along with its various operating companies, stands as a global leader in the design, production, and distribution of professional lighting equipment, serving customers across the United Kingdom, the Netherlands, other European natio...
How the Company Makes Money
FW Thorpe makes money primarily by selling lighting products and related engineered solutions produced by its operating subsidiaries. Revenue is generated from (1) product sales of professional and industrial lighting—typically including luminaire...
FW Thorpe Plc Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
90
Very Positive
Cash Flow
68
Positive
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 172.95M | 175.22M | 175.80M | 176.75M | 143.72M |
| Gross Profit | 80.85M | 79.75M | 85.44M | 73.40M | 60.06M |
| EBITDA | 41.25M | 42.73M | 37.86M | 36.54M | 31.09M |
| Net Income | 27.07M | 25.41M | 24.31M | 21.93M | 20.07M |
Balance Sheet | |||||
| Total Assets | 241.80M | 247.94M | 238.90M | 228.02M | 206.65M |
| Cash, Cash Equivalents and Short-Term Investments | 57.12M | 63.39M | 56.34M | 36.28M | 42.38M |
| Total Debt | 6.88M | 7.93M | 4.16M | 16.62M | 5.18M |
| Total Liabilities | 46.27M | 58.15M | 62.13M | 67.68M | 61.30M |
| Stockholders Equity | 195.54M | 189.79M | 176.76M | 160.34M | 145.35M |
Cash Flow | |||||
| Free Cash Flow | 25.28M | 29.22M | 34.08M | 22.52M | 12.33M |
| Operating Cash Flow | 30.83M | 34.82M | 41.37M | 32.52M | 20.20M |
| Investing Cash Flow | 4.04M | -9.19M | -28.32M | -23.29M | -24.19M |
| Financing Cash Flow | -30.84M | -16.41M | -13.81M | -9.57M | -12.92M |
FW Thorpe Plc Technical Analysis
Negative
255.00
Price Trends
258.35
Negative
258.67
Negative
261.52
Negative
Market Momentum
0.99
Negative
48.29
Neutral
42.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TFW, the sentiment is Negative. The current price of 255 is below the 20-day moving average (MA) of 257.45, below the 50-day MA of 258.35, and below the 200-day MA of 261.52, indicating a bearish trend. The MACD of 0.99 indicates Negative momentum. The RSI at 48.29 is Neutral, neither overbought nor oversold. The STOCH value of 42.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:TFW.
FW Thorpe Plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £291.36M | 10.77 | 14.19% | 2.72% | -1.30% | 10.28% | |
74 Outperform | £320.58M | 15.72 | 19.62% | 3.04% | 11.48% | 46.33% | |
71 Outperform | £1.23B | 26.49 | 15.29% | 0.69% | 8.85% | 29.67% | |
67 Neutral | £229.27M | 764.02 | 0.86% | 1.60% | -13.43% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | £563.03M | -65.09 | -4.89% | 0.04% | -1.21% | 46.27% | |
48 Neutral | £11.56M | 48.85 | 1.42% | 1.29% | 19.87% | ― |
* Industrials Sector Average
GB:TFW
FW Thorpe Plc
265.00
-27.62
-9.44%
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FW Thorpe Plc Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
FW Thorpe holds profit growth steady in weak lighting market as it backs innovation and buybacks
Positive
Oct 1, 2026
FW Thorpe reported broadly flat revenue of about £173m for the year to 30 June 2026 against a backdrop of slow UK and EU lighting markets, but lifted profit before tax by 2.5% and grew basic earnings per share by 9.4%. The group, which design...
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.