Keller Group PLC (GB:KLR)
LSE:KLR
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Keller Group plc
(LSE:KLR)
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Rating:80Outperform
Price Target:
2,781.00 p
▲(26.07% Upside)
Action:Reiterated
Date:03/05/26
The score is driven primarily by strengthening financial performance and a very attractive valuation (low P/E), reinforced by a positive earnings call emphasizing strong free cash flow, net cash status, and enhanced shareholder returns. Technicals are supportive due to the clear uptrend, but elevated RSI/Stochastics add near-term pullback risk.
Positive Factors
Cash generation & Net Cash
Consistent, strong free cash flow and a return to net cash materially improve financial resilience. This durable cash generation supports higher dividends, a £100m buyback, selective bolt‑on M&A and reinvestment while lowering refinancing risk across construction cycles.
Negative Factors
Margin volatility
Observed swings in margins and gross profit reduce predictability of operating performance. In a cyclical construction environment, margin volatility makes sustainable margin planning and long-term cashflow forecasting harder, increasing execution and pricing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & Net Cash
Consistent, strong free cash flow and a return to net cash materially improve financial resilience. This durable cash generation supports higher dividends, a £100m buyback, selective bolt‑on M&A and reinvestment while lowering refinancing risk across construction cycles.
Read all positive factors
Keller Group plc (KLR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.69B
Dividend Yield3.08%
Average Volume (3M)123.31K
Price to Earnings (P/E)12.0
Beta (1Y)0.90
Revenue Growth3.37%
EPS Growth2.19%
CountryUK
Employees10,000
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.03
Shares Outstanding69,618,260
10 Day Avg. Volume100,323
30 Day Avg. Volume123,305
Financial Highlights & Ratios
PEG Ratio3.24
Price to Book (P/B)1.83
Price to Sales (P/S)0.38
P/FCF Ratio6.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£2,410.00Price Target Upside9.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.27
Revenue Forecast (FY)£3.15B
Keller Group plc Business Overview & Revenue Model
Company Description
Keller Group plc stands as a global specialist in geotechnical engineering, offering its expert solutions across North America, Europe, the Middle East, Africa, and the Asia-Pacific regions. The company's comprehensive service offerings encompass ...
How the Company Makes Money
Keller makes money primarily by contracting geotechnical construction services on a project-by-project basis. Revenue is generated from (1) executing specialty foundation works (e.g., piling and other deep/shallow foundation solutions) where it is...
Keller Group plc Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call presented a strongly positive set of operational and financial outcomes: record revenue and profit growth on a constant currency basis, sustained margins (7.1%), robust free cash flow (GBP 175.9m), and a return to net cash (GBP 59.7m). Management reinforced capital discipline while increasing shareholder returns (dividend +41.6% and a new GBP 100m buyback) and set out a measured approach to bolt-on M&A and organic growth. Key challenges include a YOY profit reduction in North America driven by Suncoast/residential weakness, a translational FX headwind (GBP 7.8m), and ongoing non-underlying programme costs (GBP 10.9m). Overall, the positives (record results, cash generation, stronger balance sheet, upgraded shareholder returns and diversified geographic resilience) materially outweigh the headwinds.Positive Updates
Record Financial Performance
Group delivered record 2025 results with revenue growth of 5.9% on a constant currency basis and underlying operating profit up 6.5% (constant currency). Underlying EPS increased 5.7% to 211.3p and underlying margin was held at 7.1%.
Negative Updates
North America Profit Reduction (Suncoast Exposure)
North America operating profit fell by GBP 17.7m year-on-year, driven by Suncoast's exposure to the weakened U.S. residential market and a loss of the exceptional pricing booster seen in H1 2024. Management expects pricing has normalized and volume remains the key driver going forward.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Financial Performance
Group delivered record 2025 results with revenue growth of 5.9% on a constant currency basis and underlying operating profit up 6.5% (constant currency). Underlying EPS increased 5.7% to 211.3p and underlying margin was held at 7.1%.
Read all positive updates
Company Guidance
Management guided that strong cash generation and disciplined capital allocation will continue to underpin growth: FY25 free cash flow was GBP 175.9m, the group moved to net cash of GBP 59.7m (IAS 17) for the first time in 25 years, gross CapEx was GBP 90.4m (around depreciation), and facility headroom is ~GBP 730m, enabling a further GBP 100m buyback in 2026 on top of two GBP 25m tranches (GBP 38.9m paid to 31 Dec); the Board keeps a leverage target of 0.5–1.5x, has adopted an enhanced dividend policy targeting cover of 2.5–3.5x (2025 cover 3x; total dividend 70.4p, final 52.1p, +41.6%), and expects margins to be sustainable (FY25 underlying margin 7.1%, underlying operating profit up ~6.5% CC, revenue +5.9% CC; North America revenue +5% vs market −2% with NA margins ~9%, EME targeting through‑cycle 5–6%, APAC expected to perform solidly); management reiterated selective bolt‑on M&A appetite, continued portfolio discipline, and will set out detailed growth plans at a Capital Markets Day in H2.Keller Group plc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.09B | 2.99B | 2.97B | 2.94B | 2.22B |
| Gross Profit | 1.29B | 412.00M | 1.16B | 1.89B | 242.20M |
| EBITDA | 328.70M | 289.30M | 272.20M | 182.90M | 178.60M |
| Net Income | 142.70M | 142.30M | 89.40M | 46.00M | 56.50M |
Balance Sheet | |||||
| Total Assets | 1.83B | 1.79B | 1.68B | 1.70B | 1.45B |
| Cash, Cash Equivalents and Short-Term Investments | 281.50M | 202.70M | 151.40M | 101.10M | 82.70M |
| Total Debt | 310.40M | 334.60M | 388.70M | 400.00M | 276.00M |
| Total Liabilities | 1.18B | 1.19B | 1.16B | 1.21B | 1.01B |
| Stockholders Equity | 641.40M | 593.70M | 515.30M | 494.50M | 439.90M |
Cash Flow | |||||
| Free Cash Flow | 171.60M | 176.90M | 102.50M | -26.90M | 71.30M |
| Operating Cash Flow | 261.90M | 265.90M | 197.00M | 54.80M | 155.70M |
| Investing Cash Flow | -75.20M | -57.70M | -72.50M | -89.00M | -97.00M |
| Financing Cash Flow | -110.60M | -145.20M | -67.70M | 41.00M | -37.60M |
Keller Group plc Technical Analysis
Positive
2206.00
Price Trends
2194.17
Positive
2045.63
Positive
1769.02
Positive
Market Momentum
63.19
Negative
74.57
Negative
89.69
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:KLR, the sentiment is Positive. The current price of 2206 is below the 20-day moving average (MA) of 2334.25, above the 50-day MA of 2194.17, and above the 200-day MA of 1769.02, indicating a bullish trend. The MACD of 63.19 indicates Negative momentum. The RSI at 74.57 is Negative, neither overbought nor oversold. The STOCH value of 89.69 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:KLR.
Keller Group plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £1.69B | 11.96 | 23.46% | 3.08% | 3.37% | 2.19% | |
78 Outperform | £514.39M | 13.77 | 14.87% | 1.88% | -16.42% | 23.14% | |
74 Outperform | £3.91B | 15.38 | 23.73% | 1.80% | 15.24% | 54.30% | |
73 Outperform | £2.08B | 11.99 | 24.53% | 2.49% | 10.39% | 32.54% | |
72 Outperform | £502.80M | 13.97 | 30.23% | 3.65% | 0.53% | -8.91% | |
71 Outperform | £847.20M | 14.40 | 11.69% | 3.19% | 2.50% | 40.96% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
GB:KLR
Keller Group plc
2,464.00
1,004.88
68.87%
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Keller Group plc Corporate Events
Business Operations and StrategyStock Buyback
Keller Tightens Share Capital with Further Buybacks Held in Treasury
Positive
Jun 2, 2026
Keller Group has continued to execute its previously announced share buyback programme, repurchasing tranches of ordinary shares between 25 May and 29 May 2026 on the London Stock Exchange via Investec Bank. The company intends to hold these repur...
Regulatory Filings and Compliance
Keller Group Updates Total Voting Rights and Share Capital Structure
Neutral
Jun 1, 2026
Keller Group plc has confirmed that as of 29 May 2026 its total issued share capital is 73,099,735 ordinary shares of 10p each, of which 3,406,830 are held in treasury. This leaves 69,692,905 ordinary shares carrying voting rights, a figure shareh...
Business Operations and StrategyStock Buyback
Keller Group Adds to Treasury Stock with Latest Share Buyback
Positive
May 27, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing ordinary shares of 10 pence each on the London Stock Exchange between 18 and 22 May 2026 through Investec Bank plc. The transactions were carr...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Keller Wins Strong Shareholder Backing at 2026 AGM
Positive
May 20, 2026
Keller Group plc reported that shareholders approved all resolutions at its 2026 annual general meeting in London, with 73.14% of eligible votes cast, underscoring strong investor engagement. The meeting confirmed the receipt of the annual report,...
Business Operations and StrategyStock BuybackFinancial Disclosures
Keller Group posts strong start to 2026, boosts buybacks as order book grows
Positive
May 20, 2026
Keller Group reported a strong start to 2026, with trading in the first four months ahead of last year and in line with internal expectations, driven particularly by robust performance in its North American foundations business. The company said i...
Business Operations and StrategyStock Buyback
Keller Group Expands Treasury Stock with Latest Share Buyback
Positive
May 19, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing ordinary shares with a nominal value of 10 pence each between 11 May and 15 May 2026 through Investec Bank. The company intends to hold these repurchased...
Business Operations and StrategyStock Buyback
Keller Group Steps Up Share Buyback, Holding More Shares in Treasury
Positive
May 12, 2026
Keller Group plc has continued its share buyback programme, repurchasing ordinary shares between 5 and 8 May 2026 on the London Stock Exchange through Investec Bank plc. The company intends to hold these shares in treasury, leaving 3,181,967 treas...
Executive/Board Changes
Keller Director Annette Kelleher Takes Non-Executive Role at Coats Group
Positive
May 6, 2026
Keller Group plc, the world’s largest geotechnical specialist contractor serving the global construction sector with advanced foundation and ground improvement solutions, operates across five continents with around 10,000 employees and annua...
Business Operations and StrategyStock Buyback
Keller Group boosts treasury stock with latest share buyback
Positive
May 6, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing ordinary shares between 27 April and 1 May 2026 on the London Stock Exchange at volume‑weighted average prices slightly above 2,200 pence. The comp...
Regulatory Filings and Compliance
Keller Group Updates Share Capital and Voting Rights for Investors
Neutral
May 1, 2026
Keller Group plc has reported that, as of 30 April 2026, it has 73,099,735 ordinary shares in issue, of which 2,990,461 are held in treasury, leaving 70,109,274 voting rights in its ordinary shares. This updated share and voting-rights figure prov...
Business Operations and StrategyStock Buyback
Keller advances share buyback, increasing treasury stock holdings
Positive
Apr 28, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing tranches of its 10 pence ordinary shares on the London Stock Exchange between 20 and 24 April 2026. The purchased shares, acquired at volume-weighted ave...
Business Operations and StrategyStock Buyback
Keller Adds to Treasury Stock Through Ongoing Share Buyback
Positive
Apr 21, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing ordinary shares on the London Stock Exchange between 13 and 17 April 2026 at volume‑weighted average prices ranging from about 2,140p to...
Regulatory Filings and Compliance
Keller Discloses Share Sale by APAC President Deepak Raj
Neutral
Apr 14, 2026
Keller Group plc has disclosed that Deepak Raj, its President for the Asia-Pacific region and a person discharging managerial responsibilities, sold 26,601 ordinary shares in the company at £21.40 per share. The transaction, executed on 13 Ap...
DividendsShareholder Meetings
Keller Group Sets 2026 AGM and Confirms Final Dividend Timetable
Positive
Apr 14, 2026
Keller Group plc has called its 2026 Annual General Meeting for 10:00 a.m. on 20 May 2026 at its London headquarters, with the AGM notice, proxy forms, and the 2025 Annual Report and Accounts now distributed to shareholders and available online an...
Stock Buyback
Keller adds to treasury stock with latest share buybacks
Positive
Apr 14, 2026
Keller Group plc has continued to execute its share buyback programme, repurchasing a total of 45,308 ordinary shares between 7 and 10 April 2026 on the London Stock Exchange at volume-weighted average prices ranging from about 2,001p to 2,139p. T...
Business Operations and StrategyExecutive/Board Changes
Keller Mourns Former CEO Michael Speakman After His Passing
Negative
Apr 9, 2026
Keller Group plc has announced the death of former chief executive Michael Speakman, who passed away on 3 April 2026 after stepping down from the role in August 2025 to continue medical treatment. Speakman, who joined Keller as chief financial off...
Business Operations and StrategyStock Buyback
Keller Group Boosts Capital Efficiency with Ongoing Share Buyback
Positive
Apr 8, 2026
Keller Group plc has continued its recently announced share buyback programme, repurchasing ordinary shares on the London Stock Exchange between 30 March and 2 April 2026 at volume-weighted average prices ranging from about 1,918p to 1,968p. The p...
Regulatory Filings and Compliance
Keller Group Updates Share Capital and Voting Rights for Regulatory Disclosures
Neutral
Apr 1, 2026
Keller Group plc has confirmed that as of 31 March 2026 its issued share capital stands at 73,099,735 ordinary shares, of which 2,501,371 are held in treasury, leaving 70,598,364 voting rights in circulation. This updated voting rights figure serv...
Business Operations and StrategyStock Buyback
Keller completes £25m share buyback tranche and prepares further £100m programme
Positive
Mar 20, 2026
Keller Group plc has completed the second £25m tranche of its multi-year share buyback programme, acquiring 1,482,832 ordinary shares at an average price of 1,659.95p, which are being held in treasury and may be used to satisfy future employe...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Keller Group Advances Share Buyback With Latest Treasury Share Purchase
Positive
Mar 20, 2026
Keller Group plc has repurchased 24,386 ordinary shares as part of its ongoing share buyback programme, paying a volume‑weighted average price of 2,029.20 pence per share. The shares, bought on the London Stock Exchange through Peel Hunt, we...
Business Operations and StrategyExecutive/Board Changes
Keller Grants New Long-Term Incentive Share Awards to Senior Management
Positive
Mar 19, 2026
Keller Group plc has granted new awards under its Long Term Incentive Plan to executive directors and other senior managers, comprising 10,386 deferred bonus shares and 126,047 performance share awards. The grants, made at a reference price of 2,1...
Business Operations and StrategyStock Buyback
Keller Group Repurchases Shares Under Ongoing Buyback Programme
Positive
Mar 19, 2026
Keller Group plc has continued its ongoing share buyback programme, repurchasing 32,427 ordinary shares on 18 March 2026 through Peel Hunt at a volume-weighted average price of 2,126.12 pence. The transaction forms part of the capital management s...
Business Operations and StrategyStock Buyback
Keller Group Continues Share Buyback, Adds 15,000 Shares to Treasury
Positive
Mar 18, 2026
Keller Group plc has continued executing its previously announced share buyback programme, repurchasing 15,000 ordinary shares on 17 March 2026 at a volume‑weighted average price of 2,093.33 pence. The company intends to hold these shares in...
Business Operations and StrategyStock Buyback
Keller Group Expands Treasury Stock with Latest Share Buyback
Positive
Mar 17, 2026
Keller Group plc has continued its previously announced share buyback programme by repurchasing 20,286 ordinary shares on 16 March 2026 through Peel Hunt LLP at prices between 2,100p and 2,125p, with a volume‑weighted average price of 2,110p...
Business Operations and StrategyStock Buyback
Keller adds to treasury stock with latest share buyback
Positive
Mar 16, 2026
Keller Group plc has continued its share buyback programme, repurchasing 20,000 ordinary shares on 13 March 2026 via Peel Hunt LLP at prices between 2,125p and 2,175p, with a volume‑weighted average of 2,137.37p. The shares will be held in t...
Business Operations and StrategyStock Buyback
Keller Group Adds to Treasury Stock with Latest Share Buyback
Positive
Mar 13, 2026
Keller Group plc has continued its previously announced share buyback programme, repurchasing 37,808 ordinary shares on 12 March 2026 through Peel Hunt at a volume-weighted average price of 2,149.84 pence. The company plans to hold these shares in...
Business Operations and StrategyStock Buyback
Keller Group Buys Back More Shares for Treasury in Ongoing Programme
Positive
Mar 12, 2026
Keller Group plc has repurchased 37,388 ordinary shares on 11 March 2026 under its ongoing share buyback programme, at prices ranging from 2,115p to 2,150p and a volume-weighted average of 2,132.50p. The shares will be held in treasury, taking tre...
Business Operations and StrategyStock Buyback
Keller Group Adds to Treasury Stock in Ongoing Share Buyback
Positive
Mar 11, 2026
Keller Group plc has continued its share buyback programme, repurchasing 4,103 ordinary shares on 10 March 2026 via Peel Hunt at prices between 2,075p and 2,125p, with a volume-weighted average price of 2,095.66p. The company intends to hold these...
Business Operations and StrategyStock Buyback
Keller Adds to Treasury Stock with Latest Share Buyback
Positive
Mar 10, 2026
Keller Group plc has continued to execute its previously announced share buyback programme, repurchasing 17,025 ordinary shares on 9 March 2026 via Peel Hunt at a volume-weighted average price of 2,057.25 pence. The company plans to hold these sha...
Business Operations and StrategyStock Buyback
Keller adds to treasury stock with latest share buyback
Positive
Mar 10, 2026
Keller Group plc has continued its share buyback programme, repurchasing 17,025 ordinary shares on 9 March 2026 through Peel Hunt at prices between 2,050p and 2,075p, with a volume‑weighted average price of 2,057.25p. The company plans to ho...
Regulatory Filings and Compliance
Keller Group discloses share sale by APAC president Deepak Raj
Neutral
Mar 9, 2026
Keller Group plc reported that Deepak Raj, its President for the Asia-Pacific region and a person discharging managerial responsibilities, sold 30,000 ordinary shares in the company at £22.03 per share. The transaction, executed on 5 March 20...
Stock Buyback
Keller Adds to Treasury Stock with Latest Share Buyback
Positive
Mar 9, 2026
Keller Group plc has continued its ongoing share buyback programme, repurchasing 36,544 ordinary shares on 6 March 2026 via Peel Hunt LLP at prices between 2,130p and 2,200p, with a volume‑weighted average of 2,164.43p. The repurchased share...
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.