# Marshalls plc (MSLH.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Construction Materials. Price 165p, market value 419 millionp.

## Valuation
- **P/E (trailing): 20.6×** (5-yr avg 2898.2×, 3-yr avg 3150.2×). Marshalls plc trades at 20.6× trailing earnings, well below its own five-year average of 2898.2×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 9.7×, lower than trailing, so analysts expect earnings to grow.
- **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: 3.3×**. Enterprise value is 3.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 23.8%** (5-yr avg 0.1%). Free cash flow equals 23.8% 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: 4.9%**. The inverse of the P/E: 4.9% of the price is earned each year.

## Profitability
- **Gross margin: 48.0%**. Marshalls plc keeps 48.0% of revenue after the direct cost of what it sells.
- **Operating margin: 9.0%**. 9.0% of revenue is left after running the business.
- **Net margin: 2.3%**. 2.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.2%**. 2.2% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 10.8%**. Return on all capital, debt included, is 10.8%.
- **Return on assets: 4.4%**. Each dollar of assets produces 4.4% of profit.

## Growth
- **Revenue growth (1 yr): 2.1%** (3-yr -4.2%/yr, 5-yr 6.1%/yr). Revenue grew 2.1% over the last year, against 6.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -52.8%** (3-yr -19.9%/yr, 5-yr 36.8%/yr). Earnings per share fell 52.8%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -25.4%/yr**. Free cash flow has compounded at -25.4% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.28**. Debt is 0.28 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.0×**. It would take 1.0 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 3.9×**. Operating profit covers interest 3.9× over, a safe margin.
- **Current ratio: 1.78** (quick 0.68). Current assets cover the next year's liabilities 1.78 times.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 4.22%** (0p per share, trailing). Marshalls plc yields 4.22%, an income-level yield.
- **Payout ratio: 133%** (40% of free cash flow). The dividend exceeds earnings (133% payout), though free cash flow still covers it.
- **Shareholder yield: 4.7%**. Dividends plus net buybacks return 4.7% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (7 analysts). 7 analysts cover Marshalls plc; the consensus is buy, with an average price target of 238p (+45% 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): -5.2%** (YTD -7.6%, 3-mo 28.3%). The shares are down 5.2% over twelve months including dividends.
- **From 52-week high: -10.7%** (32.7% above the low). Trading 11% 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): 1.53** (volatility 36%). Beta of 1.53 against the FTSE All-Share: the shares move much more than the market.

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

Not investment advice.