Company Valuation: Marshalls plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,376 688.5 700.4 743 456.6 442.3 - -
Change - -49.98% 1.73% 6.09% -38.56% -3.12% - -
Enterprise Value (EV) 1 1,376 879.3 873.3 876.9 633.6 595.2 577.1 559.4
Change - -36.11% -0.68% 0.42% -27.75% -6.06% -3.04% -3.08%
P/E 25.3x 24.2x 38.3x 24.1x 32.3x 12.8x 10.8x 9.02x
PBR 4.02x 0.97x 1.1x 1.13x 0.7x 0.69x 0.65x 0.63x
PEG - -0.4x -1.1x 0.4x -0.6x 0x 0.6x 0.5x
Capitalization / Revenue 2.34x 0.96x 1.04x 1.2x 0.72x 0.69x 0.67x 0.64x
EV / Revenue 2.34x 1.22x 1.3x 1.42x 1x 0.93x 0.87x 0.81x
EV / EBITDA 12.9x 6.46x 8.43x 8.97x 7.45x 6.68x 5.86x 5.26x
EV / EBIT 18.1x 8.69x 12.4x 13.1x 11.2x 9.67x 8.47x 7.46x
EV / FCF 29.6x 15.3x 14.7x 13x 28.3x 15.8x 13.6x 12.7x
FCF Yield 3.38% 6.54% 6.8% 7.71% 3.54% 6.33% 7.33% 7.85%
Dividend per Share 2 0.143 0.156 0.083 0.08 0.067 0.0748 0.0857 0.0976
Rate of return 2.06% 5.71% 2.97% 2.72% 3.71% 4.28% 4.9% 5.57%
EPS 2 0.274 0.113 0.073 0.122 0.056 0.137 0.1617 0.1941
Distribution rate 52.2% 138% 114% 65.6% 120% 54.6% 53% 50.3%
Net sales 1 589.3 719.4 671.2 619.2 632.1 640.6 664.1 694.6
EBITDA 1 107.1 136 103.6 97.8 85 89.13 98.56 106.4
EBIT 1 76.22 101.1 70.7 66.7 56.4 61.54 68.12 74.97
Net income 1 54.81 26.79 18.6 31 14.4 38 41.97 49.28
Net Debt 1 -0.198 190.8 172.9 133.9 177 152.9 134.8 117
Reference price 2 6.925 2.732 2.794 2.945 1.806 1.750 1.750 1.750
Nbr of stocks (in thousands) 198,763 252,012 250,676 252,307 252,802 252,759 - -
Announcement Date 3/17/22 3/15/23 3/18/24 3/17/25 3/16/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.8x0.93x6.69x4.27% 585M
14.52x1.75x8.42x1.86% 56.24B
18.65x2.56x10.13x2.74% 45.22B
31.64x5.79x17.09x0.72% 34.02B
32.45x3.36x17.25x0.95% 33.2B
27.05x4.29x14.34x0.86% 31.46B
11.47x1.38x6.43x2.68% 28.72B
20.35x6.35x12.51x2.13% 23.47B
70.91x4.43x68.52x0.32% 21.91B
15.33x1.93x7.75x1.43% 20.46B
Average 25.52x 3.28x 16.91x 1.8% 29.53B
Weighted average by Cap. 24.88x 3.33x 15.85x 1.62%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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