# Plus500 Ltd. (PLUS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Capital Markets. Price 3690p, market value 2.6 billionp.

## Valuation
- **P/E (trailing): 12.8×** (5-yr avg 635.6×, 3-yr avg 752.1×). Plus500 Ltd. trades at 12.8× trailing earnings, well below its own five-year average of 635.6×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 12.0×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.01**. A PEG of 1.01 is in the range usually read as fairly priced for its growth.
- **Price / sales: 2.3×**. Each dollar of revenue is priced at 2.3×.
- **Price / book: 6.0×**. The shares trade at 6.0× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 4.0×**. Enterprise value is 4.0× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 17.3%** (5-yr avg 0.2%). Free cash flow equals 17.3% 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: 7.8%**. The inverse of the P/E: 7.8% of the price is earned each year.

## Profitability
- **Gross margin: 99.8%**. Plus500 Ltd. keeps 99.8% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 34.4%**. 34.4% of revenue is left after running the business, an exceptional level.
- **Net margin: 35.5%**. 35.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 50.5%**. A 50.5% return on equity is extremely high; check whether buybacks or debt have shrunk the equity base, which flatters the ratio.
- **Return on invested capital: -207.7%**. Return on all capital, debt included, is -207.7%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 58.8%**. Each dollar of assets produces 58.8% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 13.7%** (3-yr -0.3%/yr, 5-yr -1.3%/yr). Revenue grew 13.7% over the last year, against -1.3% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 11.9%** (3-yr 0.8%/yr, 5-yr -3.9%/yr). Earnings per share rose 11.9%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): -14.2%/yr**. Free cash flow has compounded at -14.2% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 593 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 1.90%** (1p per share, trailing). Plus500 Ltd. yields 1.90%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 57%** (51% of free cash flow). 57% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 11.4%/yr** (1-yr 17.1%). The dividend has compounded at 11.4% a year over five years, doubling roughly every 6 years at that pace.
- **Shareholder yield: 13.4%**. Dividends plus net buybacks return 13.4% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (6 analysts). 6 analysts cover Plus500 Ltd.; the consensus is buy, with an average price target of 4607p (+25% 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): 19.5%** (YTD 1.6%, 3-mo -20.0%). The shares are up 19.5% over twelve months including dividends.
- **From 52-week high: -33.3%** (28.4% above the low). Trading 33% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 0.33** (volatility 30%). Beta of 0.33 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.