# Mitchells & Butlers plc (MAB.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price 275p, market value 1.6 billionp.

## Valuation
- **P/E (trailing): 8.9×** (5-yr avg 2437.8×, 3-yr avg 1016.9×). Mitchells & Butlers plc trades at 8.9× trailing earnings, well below its own five-year average of 2437.8×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 8.2×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.51**. A PEG of 0.51 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.3×**. Each dollar of revenue is priced at 0.3×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.6×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 3.2×**. Enterprise value is 3.2× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 25.1%** (5-yr avg 0.1%). Free cash flow equals 25.1% 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: 11.3%**. The inverse of the P/E: 11.3% of the price is earned each year.

## Profitability
- **Gross margin: 13.4%**. Mitchells & Butlers plc keeps 13.4% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 12.1%**. 12.1% of revenue is left after running the business.
- **Net margin: 6.5%**. 6.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.3%**. 6.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 11.9%**. Return on all capital, debt included, is 11.9%.
- **Return on assets: 6.5%**. Each dollar of assets produces 6.5% of profit.

## Growth
- **Revenue growth (1 yr): 3.9%** (3-yr 7.1%/yr, 5-yr 12.9%/yr). Revenue grew 3.9% over the last year, against 12.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 16.0%** (3-yr 136.9%/yr). Earnings per share rose 16.0%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 19.7%/yr**. Free cash flow has compounded at 19.7% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.54**. Debt is 0.54 times equity, moderate leverage.
- **Net debt / EBITDA: 1.4×**. It would take 1.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 3.3×**. Operating profit covers interest 3.3× over, a safe margin.
- **Current ratio: 0.47** (quick 0.43). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.73**. A Z-score of 1.73 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. Mitchells & Butlers plc does not currently pay a dividend, but it returned 0.6% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 8.2%** (YTD 6.8%, 3-mo 18.8%). The shares are up 8.2% over twelve months including dividends.
- **From 52-week high: -8.9%** (22.9% above the low). Trading 9% 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): 52**. An RSI of 52 is neutral.
- **Beta (1 yr): 1.03** (volatility 30%). Beta of 1.03 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.