# Victrex plc (VCT.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Basic Materials / Chemicals. Price 872p, market value 760 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Victrex 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.
- **PEG: 0.30**. A PEG of 0.30 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 1.3×**. Each dollar of revenue is priced at 1.3×.
- **Price / book: 2.1×**. The shares trade at 2.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 5.1×**. Enterprise value is 5.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 14.8%** (5-yr avg 0.0%). Free cash flow equals 14.8% 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.

## Profitability
- **Gross margin: 44.6%**. Victrex plc keeps 44.6% of revenue after the direct cost of what it sells.
- **Operating margin: 16.8%**. 16.8% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 9.4%**. 9.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.4%**. 6.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 10.9%**. Return on all capital, debt included, is 10.9%.
- **Return on assets: 1.8%**. Each dollar of assets produces 1.8% of profit.

## Growth
- **Revenue growth (1 yr): 0.1%** (3-yr -4.6%/yr, 5-yr 2.2%/yr). Revenue grew 0.1% over the last year, against 2.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 60.0%** (3-yr -28.4%/yr, 5-yr -12.7%/yr). Earnings per share rose 60.0%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 12.6%/yr**. Free cash flow has compounded at 12.6% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.11**. Debt is 0.11 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.2×**. It would take 0.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 21.2×**. Operating profit covers interest 21.2× over, a safe margin.
- **Current ratio: 3.01** (quick 1.23). Current assets cover the next year's liabilities 3.01 times.
- **Altman Z-score: 5.40**. A Z-score of 5.40 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 6.88%** (1p per share, trailing). Victrex plc yields 6.88%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 186%** (92% of free cash flow). The dividend exceeds earnings (186% payout), though free cash flow still covers it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 5.2%/yr** (1-yr 0.0%). The dividend has grown 5.2% a year over five years.
- **Shareholder yield: 6.9%**. Dividends plus net buybacks return 6.9% of the market value a year.

## Price and momentum
- **Total return (1 yr): 20.3%** (YTD 31.9%, 3-mo 43.1%). The shares are up 20.3% over twelve months including dividends.
- **From 52-week high: 0.0%** (69.3% above the low). Trading within 5% of 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): 74**. An RSI of 74 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 1.04** (volatility 35%). Beta of 1.04 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.