Luceco PLC (GB:LUCE)
LSE:LUCE
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Luceco plc
(LSE:LUCE)
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Rating:81Outperform
Price Target:
308.00 p
▲(129.17% Upside)
Action:Reiterated
Date:05/07/26
The score is driven primarily by constructive financial performance (notably the strong 2025 cash flow rebound and improved operating profit) and a very attractive valuation (low P/E with a dividend). Technicals are supportive due to a strong uptrend, but overbought signals (high RSI/Stochastics) temper the overall rating.
Positive Factors
Strong cash generation (2025 rebound)
A marked rebound in operating and free cash flow in 2025 indicates the company can convert earnings into cash at scale when conditions normalize. Durable cash generation supports capital allocation for working capital, capex and dividends, improving resilience through equipment and inventory cycles.
Negative Factors
Margin volatility across cycles
Recurring swings in gross and operating margins indicate the business is exposed to commodity, input-cost and mix pressures that can erode profitability. Persistent margin variability complicates forecasting and reduces margin of safety for reinvestment or dividend sustainability over a multi-quarter horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation (2025 rebound)
A marked rebound in operating and free cash flow in 2025 indicates the company can convert earnings into cash at scale when conditions normalize. Durable cash generation supports capital allocation for working capital, capex and dividends, improving resilience through equipment and inventory cycles.
Read all positive factors
Luceco plc (LUCE) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£411.51M
Dividend Yield3.92%
Average Volume (3M)328.57K
Price to Earnings (P/E)20.9
Beta (1Y)1.65
Revenue Growth11.92%
EPS Growth41.55%
CountryUK
Employees1,707
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.13
Shares Outstanding160,800,000
10 Day Avg. Volume177,154
30 Day Avg. Volume328,575
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)1.91
Price to Sales (P/S)0.73
P/FCF Ratio5.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£283.33Price Target Upside110.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.17
Revenue Forecast (FY)£309.46M
Luceco plc Business Overview & Revenue Model
Company Description
Luceco plc operates as a global enterprise, specializing in the manufacture and distribution of diverse light-emitting diode (LED) lighting solutions and electrical wiring accessories. Its extensive market reach spans the United Kingdom, Europe, t...
How the Company Makes Money
Luceco makes money primarily by selling branded electrical and lighting products through trade and retail distribution channels. Revenue is generated from product sales across categories such as LED lighting, wiring accessories and portable power/...
Luceco plc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
83
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 271.40M | 242.50M | 209.00M | 206.30M | 228.20M |
| Gross Profit | 110.10M | 97.50M | 82.80M | 71.40M | 82.30M |
| EBITDA | 44.20M | 33.40M | 31.50M | 23.20M | 42.60M |
| Net Income | 20.30M | 14.60M | 16.70M | 11.00M | 27.10M |
Balance Sheet | |||||
| Total Assets | 251.40M | 244.80M | 176.80M | 178.10M | 202.70M |
| Cash, Cash Equivalents and Short-Term Investments | 4.40M | 4.50M | 4.90M | 6.00M | 7.30M |
| Total Debt | 63.20M | 79.20M | 27.40M | 34.70M | 45.00M |
| Total Liabilities | 147.50M | 149.00M | 83.00M | 91.40M | 115.00M |
| Stockholders Equity | 103.90M | 95.80M | 93.80M | 86.70M | 87.70M |
Cash Flow | |||||
| Free Cash Flow | 33.40M | 6.80M | 20.80M | 30.10M | 17.80M |
| Operating Cash Flow | 39.00M | 14.70M | 29.00M | 35.90M | 24.40M |
| Investing Cash Flow | -6.70M | -45.60M | -9.90M | -13.40M | -24.80M |
| Financing Cash Flow | -33.00M | 30.50M | -19.80M | -24.40M | 600.00K |
Luceco plc Technical Analysis
Positive
134.40
Price Trends
240.87
Positive
203.10
Positive
165.93
Positive
Market Momentum
6.75
Positive
55.12
Neutral
41.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:LUCE, the sentiment is Positive. The current price of 134.4 is below the 20-day moving average (MA) of 269.70, below the 50-day MA of 240.87, and below the 200-day MA of 165.93, indicating a neutral trend. The MACD of 6.75 indicates Positive momentum. The RSI at 55.12 is Neutral, neither overbought nor oversold. The STOCH value of 41.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:LUCE.
Luceco plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | £411.51M | 20.91 | 20.71% | 3.92% | 11.92% | 41.55% | |
78 Outperform | £1.11B | 25.64 | 14.90% | 1.11% | 8.19% | 25.78% | |
64 Neutral | £286.20M | 11.80 | 13.58% | 2.58% | -2.13% | 3.94% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | £147.96M | -12.20 | -31.80% | ― | -5.72% | ― | |
54 Neutral | £545.67M | -47.22 | -6.50% | ― | -6.96% | -1.58% | |
50 Neutral | £8.39M | 36.48 | -2.20% | ― | 19.87% | ― |
* Industrials Sector Average
GB:LUCE
Luceco plc
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GB:VLX
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GB:XPP
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Luceco plc Corporate Events
Regulatory Filings and Compliance
Luceco Discloses Share Purchase by CFO’s Closely Associated Person
Positive
Jun 18, 2026
Luceco plc has reported a transaction involving a person closely associated with its chief financial officer, with the disclosure made under the UK Market Abuse Regulation. The filing notes that Judith Hoy, related to CFO Will Hoy, acquired ordina...
Business Operations and StrategyExecutive/Board Changes
Luceco strengthens board with appointment of industry veteran Andrew Mines
Positive
Jun 18, 2026
Luceco plc has appointed Andrew Mines as an independent non-executive director effective 1 August 2026, strengthening its board with a seasoned FTSE 100 executive. Mines currently leads Spirax Group’s Electric Thermal Solutions division and ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Luceco CEO to Retire as Group Reaffirms 2026 Profit Guidance
Positive
Jun 15, 2026
Luceco plc has announced that long-serving chief executive John Hornby will retire on 31 December 2026 after 21 years leading the business. He will take a sabbatical until late August 2026 but remain CEO and a board director until year-end, after ...
Regulatory Filings and Compliance
Luceco Managing Director Acquires Shares Under Incentive Plan
Neutral
May 27, 2026
Luceco plc has disclosed a director share transaction under the UK Market Abuse Regulation, involving the acquisition of ordinary shares by managing director and PDMR Wayne Hill. Hill acquired 382 ordinary shares at £2.6490 per share on 22 Ma...
Other
Luceco insiders trim holdings but retain substantial stakes
Neutral
May 27, 2026
Luceco plc has disclosed a series of share sales by senior insiders, including Non-executive Chair Giles Brand, Chief Executive John Hornby and their closely associated investment vehicles. The disposals, carried out at prices around 268–276...
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
Luceco Wins Strong Shareholder Backing at 2026 AGM
Positive
May 19, 2026
Luceco plc reported that all resolutions at its 19 May 2026 Annual General Meeting were passed by poll, with around 71% of the issued share capital voting. Shareholders approved the annual report, a final dividend of 4.2 pence per share, the direc...
Business Operations and StrategyFinancial Disclosures
Luceco lifts profit outlook as EV charging and core products drive strong Q1
Positive
May 19, 2026
Luceco plc reported a strong start to 2026 with first-quarter revenue rising about 11% year on year to roughly £68 million, driven by broad-based growth across its core product lines and sustained momentum in energy transition markets. Electr...
Executive/Board ChangesRegulatory Filings and Compliance
Luceco Executives Acquire Shares Under 2017 Incentive Plan
Neutral
May 7, 2026
Luceco plc has disclosed acquisitions of ordinary shares by several persons discharging managerial responsibilities under its 2017 Share Incentive Plan. Chief executive Jonathan Hornby, chief financial officer Will Hoy and senior managers David Ni...
Business Operations and Strategy
Luceco Expands Employee Benefit Trust with 2 Million-Share Purchase
Positive
Apr 27, 2026
Luceco plc has disclosed that its Employee Benefit Trust, managed by Apex Financial Services, has purchased 2,000,000 ordinary shares in the market to support the company’s share-based incentive arrangements. The acquisition increases the Tr...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Luceco Publishes AGM Notice and 2025 Annual Report
Neutral
Apr 20, 2026
Luceco plc has published its Notice of Annual General Meeting and made it available via the National Storage Mechanism and the investors’ section of its website. The company has also released its 2025 Annual Report and Accounts online, while...
Business Operations and StrategyExecutive/Board Changes
Luceco Director Martyn Coffey Appointed Chair Designate at Stelrad Group
Positive
Apr 20, 2026
Luceco plc has announced that non-executive director Martyn Coffey will join the board of Stelrad Group plc as a non-executive director and chair designate, effective 1 May 2026. The move broadens Coffey’s external board responsibilities whi...
Regulatory Filings and Compliance
Luceco CEO Transfers Shares to Spouse Without Changing Family Stake
Neutral
Apr 9, 2026
Luceco plc has disclosed a transfer of 1,450,170 ordinary shares by chief executive officer Jonathan Hornby to his spouse, Philippa Hornby, on 8 April 2026 for nil consideration. The transaction, conducted on the London Stock Exchange, does not al...
Business Operations and StrategyExecutive/Board Changes
Luceco grants senior executives new performance-linked share awards
Positive
Apr 2, 2026
Luceco plc has granted nil-cost share options to five senior managers, including CEO John Hornby and CFO Will Hoy, under its 2017 Performance Share Plan approved by shareholders. The awards cover hundreds of thousands of ordinary shares and are st...
Executive/Board ChangesRegulatory Filings and Compliance
Luceco Reshapes Board Committees After Change in Director Independence Status
Neutral
Mar 31, 2026
Luceco plc has overhauled several board committee roles after the board determined that long-serving non-executive director Tim Surridge can no longer be classed as independent. He will remain on the board temporarily to support an orderly transit...
Business Operations and StrategyDividendsFinancial Disclosures
Luceco lifts profit, cash flow and 2026 outlook on energy transition demand
Positive
Mar 25, 2026
Luceco reported a strong 2025 performance, with revenue up 11.9% to £271.4m and adjusted operating profit rising 16.6% to £33.8m, driven by rapid expansion in Energy Transition products and steady growth in core wiring accessories and LE...
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.