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Harworth Group plc (GB:HWG)
:HWG
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Harworth (HWG) AI Stock Analysis

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GB:HWG

Harworth

(LSE:HWG)

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Neutral 63 (OpenAI - 4o)
Rating:63Neutral
Price Target:
171.00p
▲(5.56% Upside)
Harworth's strong financial performance, particularly in revenue growth and profitability, is a key strength. However, technical analysis indicates bearish momentum, which could pose short-term risks. The valuation is reasonable, offering some appeal to investors.
Positive Factors
Revenue Growth
The significant revenue growth indicates robust demand for Harworth's development projects, enhancing its market position and long-term growth prospects.
Balance Sheet Health
A low debt-to-equity ratio suggests financial stability and prudent management, providing flexibility for future investments and growth opportunities.
Profitability
High profitability margins reflect efficient operations and strong pricing power, supporting sustained financial performance and shareholder returns.
Negative Factors
Cash Flow Challenges
Negative free cash flow growth indicates potential liquidity issues, which could limit Harworth's ability to fund new projects or respond to market changes.
Free Cash Flow
A negative free cash flow to net income ratio suggests difficulties in converting profits into cash, potentially impacting operational flexibility and investment capacity.
Cash Generation Ability
While a portion of net income is converted to cash, the ratio indicates room for improvement in cash conversion efficiency, crucial for sustaining operations and growth.

Harworth (HWG) vs. iShares MSCI United Kingdom ETF (EWC)

Harworth Business Overview & Revenue Model

Company DescriptionHarworth Group plc (HWG) is a property and regeneration company based in the UK, focused on transforming former industrial and brownfield sites into sustainable and productive developments. The company operates primarily in the real estate sector, specializing in residential, commercial, and industrial properties. Harworth's core services include land regeneration, property development, and asset management, with a commitment to creating long-term value through sustainable practices and community engagement.
How the Company Makes MoneyHarworth generates revenue through several key streams, including the sale and leasing of developed properties, land sales, and joint venture partnerships. The company profits from the sale of residential and commercial properties that have been developed on reclaimed land, as well as through ongoing rental income from its portfolio of assets. Additionally, Harworth engages in strategic partnerships and joint ventures with other developers and organizations to share risks and enhance project funding, which further contributes to its earnings. The successful regeneration of brownfield sites allows Harworth to capitalize on rising demand for real estate, particularly in urban areas, driving both short-term profits and long-term asset appreciation.

Harworth Financial Statement Overview

Summary
Harworth shows strong revenue growth and profitability with a 150.72% increase in revenue and a net profit margin of 31.53%. The balance sheet is stable with a low debt-to-equity ratio of 0.24. However, cash flow challenges are evident with a negative free cash flow growth rate, indicating room for improvement in cash management.
Income Statement
75
Positive
Harworth has shown a significant improvement in revenue over the past year, with a revenue growth rate of 150.72%. The gross profit margin stands at 17.11%, and the net profit margin is 31.53%, indicating strong profitability. The EBIT margin is also impressive at 41.10%. These metrics suggest a solid financial performance with strong profit generation capabilities.
Balance Sheet
70
Positive
The company's debt-to-equity ratio is 0.24, indicating a conservative approach to leveraging. The return on equity is a healthy 8.27%, showcasing effective use of shareholder's equity. The equity ratio of 65.72% implies a strong equity base relative to assets. Overall, the balance sheet reflects stability with manageable debt levels.
Cash Flow
60
Neutral
Harworth's free cash flow has declined, leading to a negative free cash flow growth rate. However, the operating cash flow to net income ratio is 0.60, which shows that a significant portion of net income is converted into cash. The free cash flow to net income ratio is negative, reflecting challenges in cash generation beyond operating activities.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue187.90M181.59M72.43M166.69M109.88M70.00M
Gross Profit29.22M31.08M12.35M85.31M48.47M11.37M
EBITDA-5.05M77.73M54.31M61.30M30.75M-2.94M
Net Income52.15M57.24M37.96M27.84M93.99M25.80M
Balance Sheet
Total Assets1.06B1.05B824.44M781.32M766.51M666.38M
Cash, Cash Equivalents and Short-Term Investments9.80M117.38M27.18M11.58M12.04M12.71M
Total Debt190.50M165.59M64.13M60.23M37.88M84.06M
Total Liabilities358.73M360.84M186.72M178.66M188.53M177.66M
Stockholders Equity698.29M691.66M637.72M602.66M577.98M488.71M
Cash Flow
Free Cash Flow-11.26M-13.07M2.46M37.28M50.01M20.99M
Operating Cash Flow-7.79M34.54M2.85M37.39M50.04M21.10M
Investing Cash Flow-83.75M-37.59M15.42M-53.61M1.89M-19.90M
Financing Cash Flow92.13M93.26M-2.68M15.77M-52.61M-324.00K

Harworth Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price162.00
Price Trends
50DMA
164.05
Negative
100DMA
170.90
Negative
200DMA
171.27
Negative
Market Momentum
MACD
-0.67
Negative
RSI
51.06
Neutral
STOCH
60.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HWG, the sentiment is Neutral. The current price of 162 is below the 20-day moving average (MA) of 162.08, below the 50-day MA of 164.05, and below the 200-day MA of 171.27, indicating a neutral trend. The MACD of -0.67 indicates Negative momentum. The RSI at 51.06 is Neutral, neither overbought nor oversold. The STOCH value of 60.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:HWG.

Harworth Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
1.73%21.53%
76
Outperform
£627.25M8.1510.16%3.85%13.95%-17.77%
73
Outperform
4.41%
65
Neutral
$2.17B12.193.79%4.94%3.15%1.96%
63
Neutral
£527.39M10.097.74%1.03%88.68%4.27%
62
Neutral
$405.82M11.447.51%4.99%-3.98%412.08%
60
Neutral
£504.78M17.353.72%5.22%4.90%-50.68%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:HWG
Harworth
163.00
-5.43
-3.22%
GB:ESP
Empiric Student Property
73.80
-10.76
-12.72%
GB:SHED
Urban Logistics REIT plc
156.00
49.41
46.36%
GB:PCTN
Picton Property Income
75.10
9.60
14.65%
GB:WHR
Warehouse REIT PLC
113.00
33.09
41.41%
GB:PRSR
PRS REIT Plc
113.60
11.53
11.30%

Harworth Corporate Events

Private Placements and FinancingRegulatory Filings and Compliance
Harworth Group Expands Share Base with New Issuance
Neutral
Nov 12, 2025

Harworth Group plc has issued 7,741 new ordinary shares at a nominal price of 10 pence each, as part of its Save As You Earn Scheme. This issuance increases the total number of ordinary shares to 325,847,912, providing a new denominator for shareholders to calculate their interests under the Financial Conduct Authority’s rules.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Harworth Group’s Directors’ Remuneration Policy Secures Shareholder Approval
Neutral
Nov 5, 2025

Harworth Group PLC announced that following extensive shareholder engagement, the Directors’ Remuneration Policy was approved at the AGM with a 75.67% majority. The Remuneration Committee received strong support for the performance flexed Restricted Share Plan and will continue to operate the approved policy, maintaining ongoing dialogue with shareholders and proxy agencies on executive remuneration matters.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Harworth Group Awards Shares to New Deputy CFO
Positive
Oct 24, 2025

Harworth Group PLC, a company involved in land and property development, has announced the granting of an additional award under its 2019 Restricted Share Plan to Dougie Maudsley, following his appointment as Deputy Chief Financial Officer. This move reflects Harworth’s commitment to aligning its management incentives with company goals, potentially impacting its financial strategy and stakeholder interests positively.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and Strategy
Harworth Group Enhances Employee Incentives with Share Awards
Positive
Oct 16, 2025

Harworth Group PLC announced the acquisition of ‘Partnership Shares’ and the awarding of ‘Matching Shares’ under its 2019 Share Incentive Plan to eligible employees, including key executives. This initiative is aimed at aligning employee interests with company performance, potentially enhancing staff retention and motivation, while offering tax benefits if shares are held for five years.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Private Placements and Financing
Harworth Group Expands Share Issuance to Support Employee Incentives
Neutral
Oct 16, 2025

Harworth Group plc has issued 38,533 new ordinary shares at a nominal price of 10 pence each, as part of its Share Incentive Plan and Save As You Earn Scheme. This issuance increases the total number of ordinary shares to 325,840,171, which shareholders can use as a reference for interest notifications under the Financial Conduct Authority’s rules.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Other
Harworth CFO Purchases Shares, Signaling Confidence
Positive
Sep 23, 2025

Harworth Group plc announced a share purchase transaction involving its Chief Financial Officer, Katerina Patmore. The transaction, which took place on the London Stock Exchange, involved the purchase of 5,787 ordinary shares at a price of £1.717 each. This move may indicate confidence in the company’s future performance and could influence stakeholder perceptions positively.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and Strategy
Harworth Group CEO Acquires Shares, Signaling Confidence in Company Strategy
Positive
Sep 19, 2025

Harworth Group plc has announced a share purchase by its Chief Executive, Lynda Shillaw, involving 23,225 ordinary shares at a price of £1.722 each. This transaction, conducted on the London Stock Exchange, signifies a vote of confidence in the company’s strategic direction and may positively influence stakeholder perceptions.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and Strategy
Harworth Group PLC Enhances Employee Engagement with Share Incentive Plan
Positive
Sep 16, 2025

Harworth Group PLC announced the acquisition of ‘Partnership Shares’ and the award of ‘Matching Shares’ under its 2019 Share Incentive Plan to eligible employees, including key executives. This initiative is designed to align employee interests with company performance, offering tax advantages if shares are held for five years, potentially enhancing employee retention and engagement.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Harworth Group Expands Share Issuance Under Incentive Plan
Neutral
Sep 16, 2025

Harworth Group plc has issued 14,528 new ordinary shares at a nominal price of 10 pence each as part of its 2019 Share Incentive Plan, increasing its total shares in issue to 325,801,638. This issuance is part of Harworth’s strategy to reward eligible employees and strengthen its market position, providing stakeholders with updated figures for shareholding calculations.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresM&A Transactions
Harworth Group Reports Strong Half-Year Growth and Strategic Acquisitions
Positive
Sep 16, 2025

Harworth Group PLC reported its half-year results for 2025, highlighting strong momentum in its operations, which underpins continued growth in net development value (NDV). The company completed strategic acquisitions, including full control of Gateway 45 in Leeds, enhancing its industrial and logistics pipeline. Harworth also submitted significant planning applications, totaling 8.1 million sq. ft, which are expected to drive medium-term value gains. Despite macroeconomic challenges, the company maintains a solid transaction pipeline and sees sustained demand for its residential serviced land. Harworth’s strategic focus on unlocking land bank value and achieving its growth targets remains steadfast, with plans to reach £1 billion in EPRA NDV by 2029.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Harworth Expands CFO Role to Enhance Strategic Growth
Positive
Sep 15, 2025

Harworth Group plc has announced an expansion of CFO Kitty Patmore’s role to include Group Portfolio Strategy, Strategic Partnerships, and Sustainability, Energy & Natural Capital, reflecting the company’s strategic growth priorities and focus on operational success. This leadership change, along with the appointment of Dougie Maudsley as Deputy CFO, positions Harworth to effectively deliver on its growth strategy, leveraging its strong executive team to enhance site phasing, capital allocation, and sustainability initiatives.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Harworth Group Appoints Phil Redding as Non-Executive Director
Positive
Sep 10, 2025

Harworth Group plc has appointed Phil Redding as an independent Non-Executive Director, who will also join the Remuneration Committee. Redding brings extensive experience in the UK and European commercial real estate sector, particularly in the industrial and logistics sectors, having previously held senior roles at Tritax Eurobox plc and SEGRO plc. His expertise is expected to be instrumental in helping Harworth achieve its strategic growth targets, including increasing its portfolio’s focus on industrial and logistics developments to 85% by 2029.

The most recent analyst rating on (GB:HWG) stock is a Hold with a £196.00 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Business Operations and Strategy
Harworth Group Enhances Employee Share Ownership
Positive
Aug 18, 2025

Harworth Group PLC has announced the acquisition of ‘Partnership Shares’ and the awarding of ‘Matching Shares’ to eligible employees under its 2019 Share Incentive Plan. This initiative, which allows employees to acquire shares free of income tax and National Insurance contributions if held for five years, is part of Harworth’s strategy to align employee interests with company performance, potentially enhancing stakeholder value and reinforcing its market position.

The most recent analyst rating on (GB:HWG) stock is a Buy with a £2.10 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Harworth Group Expands Share Base with New Issuance
Neutral
Aug 18, 2025

Harworth Group plc has issued 13,622 new ordinary shares at a nominal price of 10 pence each as part of its 2019 Share Incentive Plan, increasing the total number of shares to 325,787,110. This issuance allows shareholders to calculate their interests under the Financial Conduct Authority’s rules, potentially impacting their holdings and the company’s market positioning.

The most recent analyst rating on (GB:HWG) stock is a Buy with a £2.10 price target. To see the full list of analyst forecasts on Harworth stock, see the GB:HWG Stock Forecast page.

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.Date of analysis: Nov 18, 2025