# Bodycote plc (BOY.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Industrials / Machinery. Price 947p, market value 1.6 billionp.

## Valuation
- **P/E (trailing): 27.8×** (5-yr avg 2712.9×, 3-yr avg 3107.2×). Bodycote plc trades at 27.8× trailing earnings, well below its own five-year average of 2712.9×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 16.7×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.09**. A PEG of 0.09 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.1×**. Each dollar of revenue is priced at 1.1×.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 5.1×**. Enterprise value is 5.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 9.1%** (5-yr avg 0.1%). Free cash flow equals 9.1% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 3.6%**. The inverse of the P/E: 3.6% of the price is earned each year.

## Profitability
- **Gross margin: 14.1%**. Bodycote plc keeps 14.1% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 9.1%**. 9.1% of revenue is left after running the business.
- **Net margin: 7.6%**. 7.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.6%**. 8.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 12.3%**. Return on all capital, debt included, is 12.3%.
- **Return on assets: 7.1%**. Each dollar of assets produces 7.1% of profit.

## Growth
- **Revenue growth (1 yr): -4.0%** (3-yr -0.7%/yr, 5-yr 4.0%/yr). Revenue fell 4.0% over the last year, against 4.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 181.8%** (3-yr -7.4%/yr, 5-yr 171.5%/yr). Earnings per share rose 181.8%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -5.6%/yr**. Free cash flow has compounded at -5.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.30**. Debt is 0.30 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.5×**. It would take 0.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 8.2×**. Operating profit covers interest 8.2× over, a safe margin.
- **Current ratio: 1.15** (quick 1.00). Current assets cover the next year's liabilities 1.15 times.
- **Altman Z-score: 4.22**. A Z-score of 4.22 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.46%** (0p per share, trailing). Bodycote plc yields 2.46%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 74%** (58% of free cash flow). 74% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 3**. 3 straight years of increases.
- **Dividend growth (5 yr): 11.6%/yr** (1-yr 0.4%). The dividend has compounded at 11.6% a year over five years, doubling roughly every 6 years at that pace.
- **Shareholder yield: 9.7%**. Dividends plus net buybacks return 9.7% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (5 analysts). 5 analysts cover Bodycote plc; the consensus is buy, with an average price target of 929p (-2% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 46.3%** (YTD 36.2%, 3-mo 34.7%). The shares are up 46.3% over twelve months including dividends.
- **From 52-week high: -1.2%** (61.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 79**. An RSI of 79 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 1.13** (volatility 44%). Beta of 1.13 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BOY.L · Page: https://foliofundamentals.com/stocks/boy.l

Not investment advice.