# Nichols plc (NICL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Defensive / Beverages. Price 1129p, market value 413 millionp.

## Valuation
- **P/E (trailing): 17.4×** (5-yr avg 2464.8×, 3-yr avg 2170.8×). Nichols plc trades at 17.4× trailing earnings, well below its own five-year average of 2464.8×: cheap by its own standards. The Consumer Defensive median in the September 2026 study was 20.1×. Forward P/E is 14.0×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.76**. A PEG of 0.76 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.2×**. Each dollar of revenue is priced at 1.2×.
- **Price / book: 4.2×**. The shares trade at 4.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.3×**. Enterprise value is 6.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 7.5%** (5-yr avg 0.0%). Free cash flow equals 7.5% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 5.8%**. The inverse of the P/E: 5.8% of the price is earned each year.

## Profitability
- **Gross margin: 45.9%**. Nichols plc keeps 45.9% of revenue after the direct cost of what it sells.
- **Operating margin: 15.7%**. 15.7% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 12.2%**. 12.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 22.6%**. 22.6% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 92.2%**. Return on all capital, debt included, is 92.2%: comfortably above what that capital costs.
- **Return on assets: 29.9%**. Each dollar of assets produces 29.9% of profit.

## Growth
- **Revenue growth (1 yr): 1.3%** (3-yr 2.0%/yr, 5-yr 8.1%/yr). Revenue grew 1.3% over the last year, against 8.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 18.4%** (3-yr 21.9%/yr, 5-yr 34.9%/yr). Earnings per share rose 18.4%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -1.0%/yr**. Free cash flow has compounded at -1.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.05**. Debt is 0.05 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Nichols plc holds more cash than debt.
- **Interest coverage: 190.9×**. Operating profit covers interest 190.9× over, a safe margin.
- **Current ratio: 3.63** (quick 3.36). Current assets cover the next year's liabilities 3.63 times.
- **Altman Z-score: 10.79**. A Z-score of 10.79 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.46%** (0p per share, trailing). Nichols plc yields 3.46%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 55%** (139% of free cash flow). 55% of earnings goes out as dividends, leaving room to keep raising it.
- **Dividend growth (5 yr): 2.8%/yr** (1-yr -62.4%). The dividend has grown 2.8% a year over five years.
- **Shareholder yield: 3.5%**. Dividends plus net buybacks return 3.5% of the market value a year.

## Price and momentum
- **Total return (1 yr): -3.0%** (YTD 17.9%, 3-mo 19.4%). The shares are down 3.0% over twelve months including dividends.
- **From 52-week high: -9.0%** (28.3% 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): 58**. An RSI of 58 is neutral.
- **Beta (1 yr): 0.14** (volatility 28%). Beta of 0.14 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.