# Rathbones Group Plc (RAT.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Asset Management. Price 1644p, market value 1.7 billionp.

## Valuation
- **P/E (trailing): 14.7×** (5-yr avg 2395.8×, 3-yr avg 2655.9×). Rathbones Group Plc trades at 14.7× trailing earnings, well below its own five-year average of 2395.8×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 9.1×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.13**. A PEG of 0.13 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.9×**. Each dollar of revenue is priced at 0.9×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 0.6×**. Enterprise value is 0.6× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 95.8%** (5-yr avg 0.0%). Free cash flow equals 95.8% 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: 6.8%**. The inverse of the P/E: 6.8% of the price is earned each year.

## Profitability
- **Gross margin: 91.1%**. Rathbones Group Plc keeps 91.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 81.6%**. 81.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 10.9%**. 10.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.3%**. 8.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 3.4%**. Each dollar of assets produces 3.4% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 15.5%** (3-yr 26.5%/yr, 5-yr 21.1%/yr). Revenue grew 15.5% over the last year, against 21.1% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 72.1%** (3-yr 8.6%/yr, 5-yr 16.9%/yr). Earnings per share rose 72.1%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 30.6%/yr**. Free cash flow has compounded at 30.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: 1.5 billionp**. 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: 6.04%** (1p per share, trailing). Rathbones Group Plc yields 6.04%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 88%** (10% of free cash flow). 88% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 1**. 1 straight year of increases.
- **Dividend growth (5 yr): 6.1%/yr** (1-yr 74.1%). The dividend has grown 6.1% a year over five years.
- **Shareholder yield: 9.9%**. Dividends plus net buybacks return 9.9% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (8 analysts). 8 analysts cover Rathbones Group Plc; the consensus is buy, with an average price target of 1984p (+21% 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): -7.2%** (YTD -14.0%, 3-mo -13.5%). The shares are down 7.2% over twelve months including dividends.
- **From 52-week high: -34.2%** (4.1% above the low). Trading 34% 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): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.95** (volatility 28%). Beta of 0.95 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.