Harworth Group PLC (GB:HWG)
LSE:HWG
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Harworth
(LSE:HWG)
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Rating:47Neutral
Price Target:
130.00 p
▼(-19.75% Downside)
Action:ReiteratedDate:03/19/26
The score is held back primarily by weak and inconsistent cash flow alongside volatile operating performance, despite a relatively solid balance sheet. Technicals are bearish with the stock trading below major moving averages, and valuation looks demanding (high P/E with a low yield), adding further downside risk.
Positive Factors
Balance sheet strength
A manageable leverage profile and a sizable equity base give Harworth lasting financial capacity to fund remediation, enabling works and planning milestones across multi-year projects. This balance-sheet resilience supports cyclical land development timing and provides optionality to bridge temporary cash shortfalls without forcing distressed disposals.
Negative Factors
Weak cash generation
Sharp negative operating and free cash flow in 2025 materially reduce Harworth's financial flexibility over coming months. Development businesses rely on predictable cash conversion to fund remediation and infrastructure; sustained outflows force higher reliance on borrowing or asset disposals, constraining project pacing and capital allocation decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
A manageable leverage profile and a sizable equity base give Harworth lasting financial capacity to fund remediation, enabling works and planning milestones across multi-year projects. This balance-sheet resilience supports cyclical land development timing and provides optionality to bridge temporary cash shortfalls without forcing distressed disposals.
Read all positive factors
Harworth (HWG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£435.89M
Dividend Yield1.01%
Average Volume (3M)322.12K
Price to Earnings (P/E)57.1
Beta (1Y)0.49
Revenue Growth-29.69%
EPS Growth-83.49%
CountryUK
Employees138
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding326,541,870
10 Day Avg. Volume165,820
30 Day Avg. Volume322,119
Financial Highlights & Ratios
PEG Ratio-0.68
Price to Book (P/B)0.77
Price to Sales (P/S)4.14
P/FCF Ratio-8.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£190.00Price Target Upside17.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)£225.82M
Harworth Business Overview & Revenue Model
Company Description
Harworth 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,...
How the Company Makes Money
Harworth primarily makes money by creating value in land and property through regeneration and development, then realising that value via sales, development profits, and rental income. Key revenue streams include: (1) Land sales and development di...
Harworth Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
76
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 130.72M | 181.59M | 72.43M | 166.69M | 109.88M |
| Gross Profit | 12.31M | 31.08M | 12.35M | 85.31M | 48.47M |
| EBITDA | 33.18M | 77.73M | 54.31M | 61.30M | 30.75M |
| Net Income | 9.47M | 57.24M | 37.96M | 27.84M | 93.99M |
Balance Sheet | |||||
| Total Assets | 1.04B | 1.05B | 824.44M | 781.32M | 766.51M |
| Cash, Cash Equivalents and Short-Term Investments | 27.14M | 117.38M | 27.18M | 11.58M | 12.04M |
| Total Debt | 174.22M | 165.59M | 64.13M | 60.23M | 37.88M |
| Total Liabilities | 343.26M | 360.84M | 186.72M | 178.66M | 188.53M |
| Stockholders Equity | 698.98M | 691.66M | 637.72M | 602.66M | 577.98M |
Cash Flow | |||||
| Free Cash Flow | -61.14M | -13.07M | 2.46M | 37.28M | 50.01M |
| Operating Cash Flow | -51.09M | 34.54M | 2.85M | 37.39M | 50.04M |
| Investing Cash Flow | -41.27M | -37.59M | 15.42M | -53.61M | 1.89M |
| Financing Cash Flow | 2.12M | 93.26M | -2.68M | 15.77M | -52.61M |
Harworth Technical Analysis
Neutral
162.00
Price Trends
160.01
Negative
162.05
Negative
167.47
Negative
Market Momentum
-3.89
Negative
47.44
Neutral
53.33
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 above the 20-day moving average (MA) of 149.51, above the 50-day MA of 160.01, and below the 200-day MA of 167.47, indicating a neutral trend. The MACD of -3.89 indicates Negative momentum. The RSI at 47.44 is Neutral, neither overbought nor oversold. The STOCH value of 53.33 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £4.48B | 7.70 | 7.16% | 6.67% | 43.70% | 40.28% | |
75 Outperform | £3.99B | 3.98 | 7.75% | 5.85% | 23.40% | 148.54% | |
71 Outperform | £9.54B | 17.68 | 3.51% | 4.25% | 7.56% | -8.46% | |
68 Neutral | £353.84M | 8.24 | 5.35% | 5.88% | -6.52% | -20.26% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
54 Neutral | £226.16M | 14.02 | 5.16% | 3.01% | -23.40% | -7.92% | |
47 Neutral | £435.89M | 57.12 | 1.36% | 1.01% | -29.69% | -83.49% |
* Real Estate Sector Average
GB:HWG
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Harworth Corporate Events
Business Operations and Strategy
Harworth Wins Planning Go-Ahead for Microsoft Hyperscale Data Centre at Skelton Grange
Positive
Apr 27, 2026
Harworth Group has secured a resolution from Leeds’ local planning committee to grant consent for Microsoft’s hyperscale data centre campus and associated industrial and logistics space at Skelton Grange in West Yorkshire. The scheme c...
Business Operations and StrategyExecutive/Board Changes
Harworth Grants Performance-Linked Share Awards to Senior Leadership
Positive
Apr 22, 2026
Harworth Group has granted new nil-cost options under its 2019 Restricted Share Plan to its chief executive, chief financial officer and other senior managers as part of a performance-linked share incentive scheme. The awards, which cover hundreds...
Business Operations and StrategyExecutive/Board Changes
Harworth Grants Senior Executives Shares Under Incentive Plan
Positive
Apr 16, 2026
Harworth Group has disclosed routine share dealings by its senior executives under the company’s 2019 Share Incentive Plan, involving the purchase of partnership shares at £1.50 each and the award of corresponding matching shares at no ...
Private Placements and FinancingRegulatory Filings and Compliance
Harworth Issues New Shares Under Employee Incentive Plan
Neutral
Apr 16, 2026
Harworth Group has issued 16,530 new ordinary shares of 10 pence each under its 2019 Share Incentive Plan, providing matching shares to eligible employees and reinforcing its use of equity-based remuneration. The new shares, which were admitted to...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Harworth Releases 2025 Annual Report and Updates on Net Zero Progress
Positive
Apr 14, 2026
Harworth Group has published its Annual Report and Financial Statements for 2025, along with the notice and proxy form for its 2026 annual general meeting, making these documents available to shareholders and via regulatory and company websites. T...
Regulatory Filings and Compliance
Harworth CFO Kitty Patmore Buys Shares in Market Transaction
Neutral
Apr 1, 2026
Harworth Group plc has disclosed a director share dealing involving its chief financial officer, Kitty Patmore. The transaction relates to the purchase of ordinary shares of 10 pence each in the company, listed on the London Stock Exchange main ma...
Executive/Board ChangesRegulatory Filings and Compliance
Harworth Grants Deferred Nil-Cost Share Options to Top Executives
Neutral
Mar 25, 2026
Harworth Group plc has granted nil-cost option awards over its ordinary shares to Chief Executive Lynda Shillaw and Chief Financial Officer Kitty Patmore under the Harworth 2019 Deferred Bonus Plan. The awards, relating to bonuses earned for the f...
Regulatory Filings and Compliance
Harworth Non-Executive Director Increases Stake with £63,000 Share Purchase
Positive
Mar 25, 2026
Harworth Group plc has disclosed a director dealing, reporting that non-executive director Phil Redding purchased 40,000 ordinary shares in the company at a price of £1.575 per share. The transaction, conducted on 23 March 2026 on the London ...
Regulatory Filings and Compliance
Harworth CFO Kitty Patmore Purchases Shares in Director Dealing Disclosure
Neutral
Mar 24, 2026
Harworth Group plc has disclosed a director dealing, reporting that its Chief Financial Officer, Kitty Patmore, has purchased 6,943 ordinary shares in the company. The transaction, executed on 19 March 2026 on the London Stock Exchange’s mai...
Regulatory Filings and Compliance
Harworth CEO Lynda Shillaw Buys Additional Shares on London Market
Positive
Mar 23, 2026
Harworth Group plc has disclosed a share purchase by its chief executive, Lynda Shillaw, in compliance with regulatory requirements for transactions by senior managers. Shillaw acquired 21,764 ordinary shares at £1.554 per share on 20 March 2...
Other
Harworth Chair Alastair Lyons Increases Stake with Share Purchase
Positive
Mar 20, 2026
Harworth Group plc has disclosed that its chair, Alastair Lyons, purchased 31,610 ordinary shares of 10 pence each in the company on 19 March 2026. The transaction, executed on the London Stock Exchange’s main market at a price of £1.55...
Business Operations and StrategyRegulatory Filings and Compliance
Harworth Increases Share Capital Following Restricted Share Plan Awards
Neutral
Mar 18, 2026
Harworth Group plc has issued 633,090 new ordinary shares of 10 pence each to satisfy awards released under its Restricted Share Plan, with the shares admitted to trading on 17 March 2026. Following this issuance, the company’s total shares ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Harworth leans into industrial and data-led growth as 2025 returns outpace UK property market
Positive
Mar 17, 2026
Harworth Group reported full-year 2025 results showing modest growth in net asset measures and portfolio value, while continuing to pivot its portfolio towards industrial and logistics assets, which now represent 70% of portfolio value. The group ...
Private Placements and FinancingRegulatory Filings and Compliance
Harworth Issues New Shares Under Employee Incentive Plan, Lifts Total Count to 325.9 Million
Neutral
Mar 11, 2026
Harworth Group plc has issued 14,556 new ordinary shares of 10 pence each under its 2019 Share Incentive Plan, providing matching shares to eligible employees and reinforcing its employee ownership incentives. The new shares, admitted to trading o...
Executive/Board Changes
Harworth Executives Receive Shares Under 2019 Incentive Plan
Positive
Mar 11, 2026
Harworth Group has disclosed that senior executives, including chief executive Lynda Shillaw and chief financial officer Katerina Patmore, have acquired partnership shares and received matching shares under the company’s 2019 Share Incentive...
Business Operations and StrategyDelistings and Listing Changes
Harworth Seeks LSE Admission for New Shares to Satisfy Option Plans
Neutral
Mar 2, 2026
Harworth Group has applied to the London Stock Exchange for the admission to trading of 633,090 new ordinary shares, each with a nominal value of 10 pence, on the main market. These shares will be issued over time to satisfy exercises of options g...
Business Operations and Strategy
Harworth Adds Barclays as Joint Corporate Broker to Bolster Market Support
Positive
Feb 25, 2026
Harworth Group plc has appointed Barclays Bank plc as a joint corporate broker alongside Peel Hunt LLP, effective immediately. The move strengthens Harworth’s capital markets support and is likely aimed at enhancing its investor engagement a...
Business Operations and StrategyExecutive/Board Changes
Harworth boosts management alignment with fresh awards under 2019 share plan
Positive
Feb 17, 2026
Harworth Group has granted senior executives additional equity under its 2019 Share Incentive Plan, with the chief executive, chief financial officer and other PDMRs acquiring partnership shares on the London Stock Exchange and receiving matching ...
Private Placements and FinancingRegulatory Filings and Compliance
Harworth Issues New Shares Under Employee Incentive Plan, Updates Voting Rights Total
Neutral
Feb 17, 2026
Harworth Group plc has issued 2,760 new ordinary shares of 10 pence each under its 2019 Share Incentive Plan, providing “Matching Shares” to eligible employees through its existing block listing facility. The new shares, which were adm...
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.