Crest Nicholson Holdings PLC (GB:CRST)
LSE:CRST
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Crest Nicholson Holdings
(LSE:CRST)
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Rating:43Neutral
Price Target:
73.00 p
â–¼(-36.63% Downside)
Action:Upgraded
Date:06/02/26
The score is held back primarily by weak cash generation (negative operating/free cash flow for three years) and a persistent technical downtrend (below key moving averages with negative MACD). Valuation also looks stretched due to a very high P/E, only partly balanced by a mid-single-digit dividend yield.
Positive Factors
Built-for-purpose regional homebuilding model
Crest Nicholson operates the full land-to-sale residential development model focused on South England and the Midlands. That integrated model and regional focus provide repeatable project pipelines and local market expertise, supporting durable revenue generation from new-home completions.
Negative Factors
Chronic negative cash generation
Three consecutive years of negative operating and free cash flow materially erode liquidity and raise funding risk. Persistent cash consumption limits reinvestment in land and builds, forces reliance on external financing, and weakens resilience to cyclical housing downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Built-for-purpose regional homebuilding model
Crest Nicholson operates the full land-to-sale residential development model focused on South England and the Midlands. That integrated model and regional focus provide repeatable project pipelines and local market expertise, supporting durable revenue generation from new-home completions.
Read all positive factors
Crest Nicholson Holdings (CRST) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£195.12M
Dividend Yield1.79%
Average Volume (3M)844.40K
Price to Earnings (P/E)88.4
Beta (1Y)2.47
Revenue Growth-1.20%
EPS GrowthN/A
CountryUK
Employees704
SectorConsumer Cyclical
Sector Strength84
IndustryResidential Construction
Share Statistics
EPS (TTM)0.01
Shares Outstanding257,032,600
10 Day Avg. Volume607,005
30 Day Avg. Volume844,401
Financial Highlights & Ratios
PEG Ratio-1.88
Price to Book (P/B)0.59
Price to Sales (P/S)0.70
P/FCF Ratio-38.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£93.43Price Target Upside-18.90% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.02
Revenue Forecast (FY)£513.11M
Crest Nicholson Holdings Business Overview & Revenue Model
Company Description
Operating within the United Kingdom, Crest Nicholson Holdings plc specializes in the development and sale of residential properties. Their offerings span apartments, houses, and commercial units, catering to a varied clientele comprising first-tim...
How the Company Makes Money
Crest Nicholson primarily makes money by developing and selling newly built residential properties. Its main revenue stream is the sale of completed homes to private buyers, with revenue generally recognized at the point legal completion occurs an...
Crest Nicholson Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
30
Negative
| Breakdown | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 610.80M | 618.20M | 657.50M | 913.60M | 786.60M |
| Gross Profit | 85.30M | -71.60M | 100.60M | 194.30M | 166.70M |
| EBITDA | 23.00M | -122.80M | 39.50M | 42.80M | 100.20M |
| Net Income | 2.20M | -103.50M | 17.90M | 26.40M | 70.90M |
Balance Sheet | |||||
| Total Assets | 1.42B | 1.44B | 1.53B | 1.58B | 1.61B |
| Cash, Cash Equivalents and Short-Term Investments | 126.20M | 74.80M | 163.70M | 374.90M | 351.80M |
| Total Debt | 173.40M | 94.30M | 104.10M | 101.00M | 102.50M |
| Total Liabilities | 702.70M | 713.30M | 674.00M | 696.10M | 706.80M |
| Stockholders Equity | 718.10M | 728.90M | 856.30M | 883.10M | 901.60M |
Cash Flow | |||||
| Free Cash Flow | -11.00M | -69.20M | -167.40M | 54.10M | 126.40M |
| Operating Cash Flow | -11.00M | -67.80M | -165.60M | 54.20M | 126.60M |
| Investing Cash Flow | -7.40M | 25.00M | 1.60M | 11.90M | -700.00K |
| Financing Cash Flow | 69.60M | -46.00M | -47.00M | -43.20M | -14.60M |
Crest Nicholson Holdings Technical Analysis
Neutral
115.20
Price Trends
72.82
Positive
101.58
Negative
124.46
Negative
Market Momentum
0.12
Negative
57.08
Neutral
69.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CRST, the sentiment is Neutral. The current price of 115.2 is above the 20-day moving average (MA) of 70.90, above the 50-day MA of 72.82, and below the 200-day MA of 124.46, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 57.08 is Neutral, neither overbought nor oversold. The STOCH value of 69.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:CRST.
Crest Nicholson Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | £4.12B | 19.00 | 2.73% | 4.73% | 28.95% | 43.50% | |
63 Neutral | £2.95B | 30.10 | 2.40% | 8.95% | 13.04% | -54.27% | |
62 Neutral | £2.28B | 15.26 | 4.43% | 2.62% | 13.29% | 7.12% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | £869.18M | 6.45 | 4.20% | ― | -4.38% | 100.09% | |
58 Neutral | £3.62B | 12.68 | 8.05% | 4.54% | 17.20% | 6.80% | |
43 Neutral | £195.12M | 88.37 | 0.30% | 1.79% | -1.20% | ― |
* Consumer Cyclical Sector Average
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Crest Nicholson Holdings Corporate Events
Other
Crest Nicholson Executives Boost Holdings Through Share Incentive Plan
Positive
Jun 10, 2026
Crest Nicholson Holdings has reported routine share transactions by several senior executives under its Share Incentive Plan, involving the acquisition of partnership shares and the award of free matching shares in ordinary stock. Chief executive ...
Delistings and Listing ChangesRegulatory Filings and Compliance
Crest Nicholson Updates Share Capital and Admits Additional Shares to Trading
Neutral
May 29, 2026
Crest Nicholson has confirmed that its issued share capital now stands at 257,032,596 ordinary shares of 5 pence each, all carrying one vote per share, with no shares held in treasury. This updated figure provides the new denominator for investors...
Business Operations and StrategyFinancial Disclosures
Crest Nicholson Delays Half-Year Results Amid Covenant Talks
Negative
May 19, 2026
Crest Nicholson has postponed the release of its half-year results for the period ended 30 April 2026 as it negotiates a temporary relaxation of financial covenants with its lenders. The company now plans to publish the interim figures on 16 July ...
Other
Crest Nicholson Executives Acquire Shares Under Incentive Plan
Positive
May 12, 2026
Crest Nicholson has disclosed share transactions involving its senior leadership under the company’s Share Incentive Plan. Chief executive Martyn Clark, chief financial officer Bill Floydd and group company secretary Penny Thomas each acquir...
Regulatory Filings and Compliance
Crest Nicholson Updates Share Capital and Voting Rights After Minor New Issue
Neutral
Apr 30, 2026
Crest Nicholson Holdings plc has confirmed that its issued share capital now comprises 257,023,734 ordinary shares of 5 pence each, all carrying one vote per share and with no shares held in treasury, setting the benchmark for shareholders’ ...
Regulatory Filings and Compliance
Crest Nicholson Executive Increases Stake With Share Purchase
Positive
Apr 28, 2026
Crest Nicholson Holdings has disclosed that Group Company Secretary and person discharging managerial responsibilities, Penny Thomas, acquired 3,000 ordinary shares in the company. The shares, each with a nominal value of £0.05 and carrying t...
Regulatory Filings and Compliance
Crest Nicholson Executives Acquire Shares via Incentive Plan
Neutral
Apr 24, 2026
Crest Nicholson has disclosed that chief executive Martyn Clark, chief financial officer Bill Floydd and group company secretary Penny Thomas have each acquired a small number of ordinary shares under the company’s Share Incentive Plan. The ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Crest Nicholson cuts guidance and pivots to cash preservation amid housing market uncertainty
Negative
Apr 21, 2026
Crest Nicholson has warned that intensifying macroeconomic uncertainty, including the prospect of prolonged higher interest rates and weaker consumer confidence, is weighing on demand and land buyer sentiment, prompting a strategic shift towards c...
Business Operations and StrategyExecutive/Board Changes
Crest Nicholson Executives Acquire Shares Under Incentive Plan
Neutral
Apr 10, 2026
Crest Nicholson disclosed that Chief Executive Officer Martyn Clark and Chief Financial Officer Bill Floydd have each acquired partnership shares and received free matching shares in the company under its Share Incentive Plan. The transactions, in...
Business Operations and StrategyDelistings and Listing Changes
Crest Nicholson Adds 78,626 Shares to LSE Listing
Neutral
Apr 7, 2026
Crest Nicholson Holdings has admitted 78,626 new ordinary shares of £0.05 each to trading on the London Stock Exchange’s Main Market under existing block admissions. This incremental issuance brings the total number of ordinary shares i...
Regulatory Filings and Compliance
Crest Nicholson Confirms Total Voting Rights and Share Capital
Neutral
Mar 31, 2026
Crest Nicholson Holdings has confirmed that its issued share capital stands at 257,020,326 ordinary shares of 5 pence each as of 31 March 2026, with each share carrying one voting right and no shares held in treasury. This updated total voting rig...
Executive/Board Changes
Crest Nicholson grants nil-cost share awards to senior leadership under LTIP
Positive
Mar 26, 2026
Crest Nicholson Holdings has granted new restricted share awards to senior executives under its Long-Term Incentive Plan, aligning leadership remuneration with shareholder interests through equity-based incentives. The awards, made on 26 March 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.