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Keystone Law Group Plc
(LSE:KEYS)
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Rating:79Outperform
Price Target:
631.00 p
▲(16.85% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance (steady multi-year growth, solid profitability, and historically low leverage), supported by attractive valuation (reasonable P/E and a very high dividend yield). Technicals are constructive but tempered by overbought signals (RSI/Stoch), suggesting elevated near-term reversal risk.
Positive Factors
Scalable lawyer-partner platform
Keystone's 'lawyers' firm' model—partners and consultants supported by a central compliance, tech and admin platform—creates a variable-cost, scalable structure. This reduces fixed overhead, enables faster geographic and practice-area expansion, and supports durable margin resilience as revenue scales.
Negative Factors
Volatile cash generation
Material year-to-year swings in operating cash flow and free cash flow reduce predictability for reinvestment, dividends and working-capital needs. Persistent volatility complicates capital allocation and increases refinancing or liquidity risk during weaker revenue periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Scalable lawyer-partner platform
Keystone's 'lawyers' firm' model—partners and consultants supported by a central compliance, tech and admin platform—creates a variable-cost, scalable structure. This reduces fixed overhead, enables faster geographic and practice-area expansion, and supports durable margin resilience as revenue scales.
Read all positive factors
Keystone Law Group Plc (KEYS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£181.46M
Dividend Yield9.29%
Average Volume (3M)102.57K
Price to Earnings (P/E)17.0
Beta (1Y)0.32
Revenue Growth17.88%
EPS Growth28.90%
CountryUK
Employees96
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)0.34
Shares Outstanding31,449,444
10 Day Avg. Volume45,928
30 Day Avg. Volume102,572
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)9.73
Price to Sales (P/S)1.75
P/FCF Ratio16.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.36
Revenue Forecast (FY)£123.25M
Keystone Law Group Plc Business Overview & Revenue Model
Company Description
Established in London in 2002, Keystone Law Group plc and its subsidiaries provide a wide array of traditional legal services throughout the United Kingdom. The firm's expertise spans numerous legal domains, including banking and finance, corporat...
How the Company Makes Money
Keystone Law Group Plc makes money primarily by charging clients for legal services provided by its lawyers. Revenue is generated from fees billed for advisory and transactional work (e.g., corporate and commercial matters) and for contentious wor...
Keystone Law Group Plc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
82
Very Positive
Cash Flow
78
Positive
| Breakdown | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 115.17M | 97.70M | 87.93M | 75.26M | 69.62M |
| Gross Profit | 28.66M | 25.47M | 22.83M | 19.57M | 18.40M |
| EBITDA | 11.42M | 13.36M | 11.89M | 9.20M | 9.34M |
| Net Income | 11.06M | 8.55M | 7.65M | 6.73M | 6.65M |
Balance Sheet | |||||
| Total Assets | 49.83M | 45.70M | 41.30M | 37.88M | 37.40M |
| Cash, Cash Equivalents and Short-Term Investments | 9.74M | 9.69M | 8.37M | 9.15M | 10.48M |
| Total Debt | 1.67M | 2.16M | 2.37M | 648.03K | 1.11M |
| Total Liabilities | 29.13M | 25.33M | 24.36M | 20.02M | 18.52M |
| Stockholders Equity | 20.70M | 20.36M | 16.94M | 17.86M | 18.88M |
Cash Flow | |||||
| Free Cash Flow | 12.12M | 5.47M | 7.46M | 7.17M | 8.27M |
| Operating Cash Flow | 12.21M | 6.24M | 7.53M | 7.23M | 8.31M |
| Investing Cash Flow | -85.07K | 1.19M | 1.46M | 157.73K | -32.35K |
| Financing Cash Flow | -12.07M | -6.12M | -9.78M | -8.72M | -5.17M |
Keystone Law Group Plc Technical Analysis
Positive
540.00
Price Trends
542.64
Positive
524.65
Positive
552.67
Positive
Market Momentum
8.63
Negative
81.99
Negative
91.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KEYS, the sentiment is Positive. The current price of 540 is below the 20-day moving average (MA) of 551.70, below the 50-day MA of 542.64, and below the 200-day MA of 552.67, indicating a bullish trend. The MACD of 8.63 indicates Negative momentum. The RSI at 81.99 is Negative, neither overbought nor oversold. The STOCH value of 91.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:KEYS.
Keystone Law Group Plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £181.46M | 17.00 | 59.02% | 9.94% | 17.88% | 28.90% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | £151.89M | 31.42 | 4.58% | 2.84% | 28.41% | -36.92% | |
60 Neutral | £391.48M | 139.81 | 1.30% | 2.46% | 8.11% | -69.68% | |
59 Neutral | £435.75M | -4.64 | -12.70% | 7.63% | -0.86% | -481.50% | |
42 Neutral | £335.38M | -1.71 | -677.10% | ― | -16.13% | -1315.87% |
* Industrials Sector Average
GB:KEYS
Keystone Law Group Plc
578.00
-2.26
-0.39%
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Keystone Law Group Plc Corporate Events
Business Operations and StrategyFinancial Disclosures
Keystone Law schedules interim results and investor briefings
Positive
Aug 6, 2026
Keystone Law Group plc, the AIM-quoted tech-enabled platform law firm, operates a full-service model in the UK’s £14 billion legal market with a network of nearly 500 self-employed principal lawyers and extensive support infrastructure....
Business Operations and StrategyRegulatory Filings and Compliance
Keystone Law updates share capital after LTIP vesting and treasury share cancellation
Neutral
Jun 29, 2026
Keystone Law Group plc is a UK-based, tech-enabled platform law firm that operates a highly scalable, full-service legal practice focused on an organic growth strategy. Ranked within the UK Top 100 law firms, it serves a £14bn addressable mar...
Business Operations and StrategyExecutive/Board Changes
Keystone Law grants performance-linked share awards to senior executives
Positive
Jun 19, 2026
Keystone Law Group plc has granted new long-term incentive plan awards over 33,620 ordinary shares each to finance director Ashley Miller and PDMR William Robins, structured as performance share awards. The grants, made at nil cost, are designed t...
Business Operations and StrategyShareholder Meetings
Keystone Law Group Secures Unanimous Shareholder Backing at AGM
Positive
Jun 18, 2026
Keystone Law Group, a premier tech-enabled platform law firm listed on AIM, combines a central support infrastructure with a bespoke IT platform to deliver conventional legal services through a flexible, partner-led model. With close to 500 princi...
Business Operations and StrategyStock Buyback
Keystone Law Completes £1.5m Share Buyback, Reducing Free Float
Positive
Jun 15, 2026
Keystone Law Group Plc has completed the latest phase of its share buyback programme, repurchasing 32,315 ordinary shares between 8 and 12 June 2026, which will be held in treasury. Following these transactions, the company now has 31,717,258 shar...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Keystone Law Tightens Share Base with Treasury Buyback
Positive
Jun 8, 2026
Keystone Law Group has repurchased 37,500 ordinary shares under its ongoing buyback programme, with the shares to be held in treasury, reflecting continued capital management activity. Following these transactions, the company now has 31,717,258 s...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Keystone Law Tightens Share Count with Treasury Buyback Tranche
Positive
Jun 1, 2026
Keystone Law Group has continued to execute its previously announced share buyback programme, repurchasing 140,000 ordinary shares between 25 and 29 May 2026 at prices ranging from 553.75p to 563p per share, with the shares to be held in treasury....
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Keystone Law Tightens Free Float with Latest Share Buyback Tranche
Positive
May 26, 2026
Keystone Law Group has continued to execute its share buyback programme, repurchasing 140,000 ordinary shares between 18 and 21 May 2026 at prices around 565p and placing them into treasury. Following these transactions, the firm has 31,687,258 sh...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Keystone Law Repurchases 30,000 Shares Under Buyback Programme
Positive
May 18, 2026
Keystone Law Group Plc has repurchased 30,000 of its own ordinary shares under its recently announced share buyback programme, paying a volume-weighted average price of 566.33 pence per share. The shares, bought via Panmure Liberum, will be held i...
Business Operations and StrategyStock Buyback
Keystone Law Launches £1.5m Share Buyback to Support Incentive Plans and Capital Discipline
Positive
May 15, 2026
Keystone Law Group Plc, a tech-enabled platform law firm listed on AIM and ranked among the UK Top 100, operates a scalable, full-service legal model focused on flexibility for self-employed lawyers and comprehensive central support. Serving a wid...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Keystone Law Posts 2026 Annual Report and Sets June AGM Date
Positive
May 13, 2026
Keystone Law Group Plc, the AIM-quoted, tech-enabled platform law firm, has posted its Annual Report and Accounts for the year ended 31 January 2026, along with the Notice of Annual General Meeting, on its investor website and dispatched them to s...
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.