# Next 15 Group plc (NFG.L) fundamentals

Data as of 2026-11-04. LSE, United Kingdom. Sector: Communication Services / Media. Price 351p, market value 360 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Next 15 Group 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: 0.6×**. Each dollar of revenue is priced at 0.6×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 22.0×**. Enterprise value is 22.0× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 11.7%** (5-yr avg 0.1%). Free cash flow equals 11.7% 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: 72.7%**. Next 15 Group plc keeps 72.7% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -0.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -4.9%**. The company reported a net loss over the last twelve months.
- **Return on equity: -22.9%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -0.1%**. Return on all capital, debt included, is -0.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -5.8%**. Each dollar of assets produces -5.8% of profit.

## Growth
- **Revenue growth (1 yr): -3.4%** (3-yr -5.0%/yr). Revenue fell 3.4% over the last year.
- **EPS growth (1 yr): -179.2%**. Earnings per share fell 179.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -14.8%/yr**. Free cash flow has compounded at -14.8% a year over three years.

## Financial health
- **Debt to equity: 1.05**. Debt is 1.05 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.7×**. It would take 2.7 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: -0.0×**. Operating profit covers interest only -0.0×: fragile.
- **Current ratio: 0.75** (quick 0.75). 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: 1.91**. A Z-score of 1.91 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 4.49%** (0p per share, trailing). Next 15 Group plc yields 4.49%, an income-level yield.

## Price and momentum
- **Total return (1 yr): -19.3%** (YTD 2.6%, 3-mo 11.9%). The shares are down 19.3% over twelve months including dividends.
- **From 52-week high: -14.2%** (62.0% above the low). Trading 14% 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): 55**. An RSI of 55 is neutral.
- **Beta (1 yr): 0.92** (volatility 42%). Beta of 0.92 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.