# Marston's PLC (MARS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price 49p, market value 311 millionp.

## Valuation
- **P/E (trailing): 4.1×** (5-yr avg 263.3×, 3-yr avg 356.8×). Marston's PLC trades at 4.1× trailing earnings, well below its own five-year average of 263.3×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 4.8×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.01**. A PEG of 0.01 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.4×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 3.6×**. Enterprise value is 3.6× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 39.5%** (5-yr avg 0.2%). Free cash flow equals 39.5% of the market value, above its five-year average of 0.2%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 24.5%**. The inverse of the P/E: 24.5% of the price is earned each year.

## Profitability
- **Gross margin: 18.3%**. Marston's PLC keeps 18.3% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 18.3%**. 18.3% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 8.0%**. 8.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.1%**. 9.1% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 13.9%**. Return on all capital, debt included, is 13.9%.
- **Return on assets: 5.1%**. Each dollar of assets produces 5.1% of profit.

## Growth
- **Revenue growth (1 yr): -0.1%** (3-yr 3.9%/yr, 5-yr 11.7%/yr). Revenue fell 0.1% over the last year, against 11.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 479.3%** (3-yr -19.4%/yr). Earnings per share rose 479.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 1.57**. Debt is 1.57 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.8×**. It would take 2.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 1.7×**. Operating profit covers interest 1.7×, thin but manageable.
- **Current ratio: 0.31** (quick 0.26). 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: 1.13**. A Z-score of 1.13 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Marston's PLC does not currently pay a dividend, but it returned 0.4% of its market value through buybacks over the last year.

## Analyst view
- **Analyst consensus: buy** (5 analysts). 5 analysts cover Marston's PLC; the consensus is buy, with an average price target of 77p (+57% 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): 32.8%** (YTD -16.2%, 3-mo 9.9%). The shares are up 32.8% over twelve months including dividends.
- **From 52-week high: -29.3%** (36.2% above the low). Trading 29% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 1.12** (volatility 40%). Beta of 1.12 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.