# Hays plc (HAS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Industrials / Professional Services. Price 67p, market value 1.1 billionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Hays plc reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.1×**. Each dollar of revenue is priced at 0.1×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.6×**. The shares trade at 2.6× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 9.1×**. Enterprise value is 9.1× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 16.2%** (5-yr avg 0.1%). Free cash flow equals 16.2% 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.

## Profitability
- **Gross margin: 8.1%**. Hays plc keeps 8.1% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 0.4%**. 0.4% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: -0.1%**. The company reported a net loss over the last twelve months.
- **Return on equity: -1.7%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 8.1%**. Return on all capital, debt included, is 8.1%.
- **Return on assets: -1.4%**. Each dollar of assets produces -1.4% of profit.

## Growth
- **Revenue growth (1 yr): -4.9%** (3-yr 0.1%/yr, 5-yr 2.2%/yr). Revenue fell 4.9% over the last year, against 2.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -58.1%**. Earnings per share fell 58.1%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -13.3%/yr**. Free cash flow has compounded at -13.3% a year over three years.

## Financial health
- **Debt to equity: 0.67**. Debt is 0.67 times equity, moderate leverage.
- **Net debt / EBITDA: 1.1×**. It would take 1.1 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 1.9×**. Operating profit covers interest 1.9×, thin but manageable.
- **Current ratio: 1.25** (quick 1.25). Current assets cover the next year's liabilities 1.25 times.
- **Altman Z-score: 4.80**. A Z-score of 4.80 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 0.63%**. Hays plc yields 0.63%, a modest yield more typical of a growth-oriented payer.
- **Shareholder yield: 0.7%**. Dividends plus net buybacks return 0.7% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (10 analysts). 10 analysts cover Hays plc; the consensus is buy, with an average price target of 65p (-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): 12.6%** (YTD 22.9%, 3-mo 90.9%). The shares are up 12.6% over twelve months including dividends.
- **From 52-week high: -14.7%** (133.3% above the low). Trading 15% below 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): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.79** (volatility 49%). Beta of 0.79 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.