Chesnara PLC (GB:CSN)
LSE:CSN
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Chesnara
(LSE:CSN)
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Rating:53Neutral
Price Target:
325.00 p
â–²(4.17% Upside)
Action:Downgraded
Date:03/25/26
The score is held back primarily by inconsistent profitability and especially unstable cash flow, despite a currently strong balance sheet. Technically, the stock shows a weak trend (below key moving averages and negative MACD), while valuation is supported by a very high dividend yield but tempered by negative earnings (negative P/E).
Positive Factors
Closed-book consolidator business model
Owning and managing closed life and pension books is a durable business model: long-duration liabilities generate predictable policy cash flows, fees and run-off profits, while scale enables expense extraction and operational efficiency over multi-year horizons, supporting stable long-term cash generation.
Negative Factors
Unstable cash generation
Repeated negative operating/free cash flow and a sharp 2025 outflow indicate inconsistent cash conversion from insurance operations. This undermines the company’s ability to self-fund acquisitions, dividends or capital needs, increasing reliance on external capital and raising medium-term execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Closed-book consolidator business model
Owning and managing closed life and pension books is a durable business model: long-duration liabilities generate predictable policy cash flows, fees and run-off profits, while scale enables expense extraction and operational efficiency over multi-year horizons, supporting stable long-term cash generation.
Read all positive factors
Chesnara (CSN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£739.12M
Dividend Yield8.03%
Average Volume (3M)513.47K
Price to Earnings (P/E)―
Beta (1Y)0.67
Revenue Growth-40.13%
EPS Growth-369.64%
CountryUK
Employees386
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)-0.05
Shares Outstanding230,974,320
10 Day Avg. Volume619,890
30 Day Avg. Volume513,471
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)1.49
Price to Sales (P/S)0.62
P/FCF Ratio-2.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£234.07Price Target Upside-24.98% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.17
Revenue Forecast (FY)N/A
Chesnara Business Overview & Revenue Model
Company Description
Chesnara plc, together with its subsidiaries, engages in the life assurance and pension businesses primarily in the United Kingdom, the Netherlands, and Sweden. It operates through CA, Movestic, Waard Group, and Scildon segments. The company under...
How the Company Makes Money
Chesnara makes money primarily by managing life insurance and pension policy portfolios and earning the spread between the returns it generates on invested policyholder and shareholder assets and the amounts it pays out in claims, benefits, and po...
Chesnara Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
73
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 990.40M | 1.67B | 1.03B | -720.40M | 1.50B |
| Gross Profit | 990.40M | 1.67B | 1.03B | -1.29B | 1.49B |
| EBITDA | 48.50M | 49.70M | 31.40M | -48.40M | 42.19M |
| Net Income | -10.40M | 3.90M | 18.70M | -33.70M | 27.29M |
Balance Sheet | |||||
| Total Assets | 14.58B | 12.76B | 12.13B | 11.14B | 9.42B |
| Cash, Cash Equivalents and Short-Term Investments | 145.30M | 138.00M | 146.00M | 204.60M | 70.09M |
| Total Debt | 205.30M | 206.20M | 209.30M | 213.23M | 49.46M |
| Total Liabilities | 14.01B | 12.44B | 11.77B | 10.81B | 8.96B |
| Stockholders Equity | 415.50M | 314.40M | 359.90M | 333.12M | 458.17M |
Cash Flow | |||||
| Free Cash Flow | -231.70M | 37.80M | -35.70M | -80.43M | 20.69M |
| Operating Cash Flow | -230.80M | 38.60M | -34.90M | -76.92M | 24.32M |
| Investing Cash Flow | -900.00K | 5.00M | 29.50M | 52.05M | -3.64M |
| Financing Cash Flow | 234.80M | -49.70M | -49.80M | 121.30M | -52.25M |
Chesnara Technical Analysis
Positive
312.00
Price Trends
300.12
Positive
296.87
Positive
280.19
Positive
Market Momentum
5.88
Negative
65.81
Neutral
64.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CSN, the sentiment is Positive. The current price of 312 is below the 20-day moving average (MA) of 313.38, above the 50-day MA of 300.12, and above the 200-day MA of 280.19, indicating a bullish trend. The MACD of 5.88 indicates Negative momentum. The RSI at 65.81 is Neutral, neither overbought nor oversold. The STOCH value of 64.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CSN.
Chesnara Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | £28.74B | 2.71 | 26.87% | 1.56% | 61.45% | 78.24% | |
58 Neutral | £75.18M | 6.25 | 25.08% | 9.33% | -41.29% | 150.43% | |
53 Neutral | £739.12M | -59.40 | -2.43% | 8.03% | -40.13% | -369.64% | |
52 Neutral | £782.11M | 53.66 | -15.72% | ― | 12.19% | ― | |
51 Neutral | £333.54M | 43.55 | -8.36% | ― | 28.33% | 14.18% |
* Financial Sector Average
GB:CSN
Chesnara
323.00
94.08
41.09%
GB:PRU
Prudential
1,144.50
309.67
37.09%
GB:SAGA
Saga plc
543.00
399.80
279.19%
GB:HSD
Hansard Global
53.25
11.73
28.24%
GB:PBEE
PensionBee Group PLC
141.50
-17.00
-10.73%
Chesnara Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Chesnara CFO boosts stake after exercising buy-out share options
Neutral
May 19, 2026
Chesnara plc has disclosed that its Group Chief Financial Officer, Tom Howard, has exercised options under the company’s 2024 Buy-out Plan, adjusted following a 2025 rights issue, resulting in the acquisition of 115,098 ordinary shares. To m...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Chesnara grants long-term share awards to top executives under new pay policy
Positive
May 14, 2026
Chesnara has granted long-term incentive awards over its ordinary shares to Group Chief Executive Steven Murray and Group Chief Financial Officer Thomas Howard, following shareholder approval of its latest remuneration policy at the annual meeting...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Chesnara investors back all AGM resolutions and 14.8p final dividend
Positive
May 12, 2026
Chesnara plc said all resolutions at its 2026 annual general meeting were approved by substantial majorities, including the adoption of the 2025 accounts, the remuneration report and policy, and the declaration of a final dividend of 14.8p per sha...
Regulatory Filings and Compliance
Chesnara Confirms Total Voting Rights at 230.97 Million Shares
Neutral
May 1, 2026
Chesnara plc has confirmed that its issued share capital stands at 230,974,321 ordinary shares of 5p each, with no shares held in treasury, meaning the total number of voting rights in the company is also 230,974,321. The disclosure, made in line ...
Regulatory Filings and Compliance
Chesnara Discloses Share Option Exercise by Group Company Secretary
Neutral
Apr 28, 2026
Chesnara plc has disclosed that Group Company Secretary and PDMR Al Lonie has exercised options to acquire 9,474 ordinary shares under the company’s 2022 Save As You Earn Scheme. Following this transaction, which took place on 27 April 2026 ...
Business Operations and StrategyDelistings and Listing Changes
Chesnara Increases Share Capital Following Incentive Scheme Allotments
Neutral
Apr 17, 2026
Chesnara plc has issued and admitted to trading additional ordinary shares on the London Stock Exchange in connection with its 2023 short‑term and long‑term incentive schemes and its 2022 savings-related share option plan. The new allo...
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Chesnara Sets 2026 AGM Date as It Maintains Dividend Growth Track Record
Positive
Apr 9, 2026
Chesnara has scheduled its 2026 annual general meeting for 12 May in London and is encouraging shareholders to submit proxy votes electronically in advance, while also allowing questions to be sent ahead of time for direct response or publication ...
Business Operations and StrategyRegulatory Filings and Compliance
Chesnara Updates Market on Total Voting Rights and Share Capital
Neutral
Apr 1, 2026
Chesnara plc has confirmed that its issued share capital comprises 230,948,035 ordinary shares of 5 pence each, with no treasury shares, meaning the total number of voting rights in the company is 230,948,035. This updated voting rights figure pro...
Regulatory Filings and Compliance
Chesnara General Counsel and Associate Add to Holdings in FTSE 250 Insurer
Positive
Mar 31, 2026
Chesnara has disclosed that Group General Counsel and PDMR Emma Dawe, together with a closely associated person, Adam Murphy, have each acquired 857 Chesnara ordinary shares at 290p on 30 March 2026. Following these market purchases on the London ...
Regulatory Filings and Compliance
Chesnara CFO Increases Stake with Purchase of Additional Shares
Positive
Mar 27, 2026
Chesnara has disclosed that group chief financial officer Tom Howard, a person discharging managerial responsibilities, has acquired 6,713 ordinary shares in the company at 296p per share on 25 March 2026. Following this transaction, Howard’...
Executive/Board ChangesRegulatory Filings and Compliance
Chesnara Grants Long-Term Share Options to Senior Executives
Positive
Mar 27, 2026
Chesnara has granted nil-cost share options to four senior executives under its 2023 Short Term Incentive Scheme and Long Term Incentive Plan, in line with the directors’ remuneration policy approved by shareholders in 2023. Group CEO Steven...
Regulatory Filings and Compliance
Chesnara Executives Boost Holdings Through Incentive Scheme Share Deals
Positive
Mar 26, 2026
Chesnara has disclosed a series of share dealings by its top executives, with Group CEO Steve Murray exercising options under short- and long-term incentive plans and increasing his total interest to 477,399 shares, alongside additional share purc...
Business Operations and StrategyDividendsFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Chesnara boosts profits and dividend as major acquisitions transform scale
Positive
Mar 24, 2026
Chesnara reported strong 2025 full-year results, highlighting a 19% rise in Operating Capital Generation to £94m, a 30% increase in cash remittances to £58m, and a 42% jump in adjusted operating profit to £56m. The group’s sol...
Regulatory Filings and Compliance
Chesnara Confirms Total Voting Rights at 230.9 Million Shares
Neutral
Mar 3, 2026
Chesnara plc has reported that its issued share capital currently consists of 230,934,260 ordinary shares of 5p each, with no shares held in treasury, meaning each share carries one voting right. The disclosure, made under UK Market Abuse Regulati...
Business Operations and StrategyFinancial Disclosures
Chesnara Simplifies Financial Framework and Sets March Date for Full-Year Results
Neutral
Feb 27, 2026
Chesnara has unveiled an updated financial framework that simplifies how it reports performance, centring on the pillars of cash, capital and value, and introducing new alternative performance measures: Operating Capital Generation and Adjusted Op...
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.