Macfarlane (MACF) AI Stock Analysis

• Market Cap: £112.88M
• Dividend Yield: 5.24%
• Average Volume (3M): 265.92K
• Price to Earnings (P/E): 9.6
• Beta (1Y): 0.14
• Revenue Growth: 6.97%
• EPS Growth: -18.59%
• Country: UK
• Employees: 1,165
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Packaging & Containers
• EPS (TTM): 0.04
• Shares Outstanding: 157,114,490
• 10 Day Avg. Volume: 227,431
• 30 Day Avg. Volume: 265,920
• PEG Ratio: 3.25
• Price to Book (P/B): 1.39
• Price to Sales (P/S): 0.63
• P/FCF Ratio: 7.60
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £90.00
• Price Target Upside: 25.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: 77.00p ▲(6.94% Upside)

Macfarlane's strong financial performance and attractive valuation are significant positives. However, technical indicators suggest bearish momentum, and recent corporate events highlight potential risks. The company's ability to manage these challenges will be crucial for future performance.

Positive Factors

Cash Generation Ability

Macfarlane's strong cash generation ability ensures it can fund operations and investments, providing a buffer against economic fluctuations and supporting long-term growth.

Operational Efficiency

Efficient operations and pricing strategies allow Macfarlane to sustain profitability, enhancing its competitive position and ability to invest in growth opportunities.

Balance Sheet Health

A stable balance sheet with manageable leverage provides Macfarlane with financial flexibility to navigate market challenges and invest in strategic initiatives.

Negative Factors

Revenue Growth Challenges

Negative revenue growth may signal difficulties in market expansion or competitive pressures, potentially impacting long-term business scalability and profitability.

Increased Leverage

Rising debt levels could strain Macfarlane's financial resources, limiting its ability to invest in growth and increasing vulnerability to economic downturns.

EPS Decline

A decline in EPS suggests challenges in maintaining profitability, which could affect investor confidence and the company's ability to fund future growth initiatives.

Macfarlane Business Overview & Revenue Model

Company Description

Macfarlane Group PLC, through its subsidiaries, designs, manufactures, and distributes protective packaging products to businesses. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials; and supplies storage and warehousing services in the United Kingdom, Ireland, and Europe. The Manufacturing Operations segment designs, manufactures, and assembles timber, corrugated, and foam-based packaging materials in the United Kingdom. The company also distributes and supplies packaging equipment; and recovers waste papers and corrugated boards for recycling. In addition, it serves e-commerce retail, logistics, medical, automotive, aerospace, electronics, high street retail, household essentials, and food and hospitality industries. The company was incorporated in 1899 and is headquartered in Glasgow, the United Kingdom.

How the Company Makes Money

Macfarlane generates revenue primarily through the sale of packaging products and solutions. The company's revenue model is built on several key streams, including direct sales to businesses, distribution of packaging materials, and the provision of bespoke packaging solutions tailored to client specifications. Significant partnerships with manufacturers and suppliers enable Macfarlane to maintain a competitive edge in pricing and product availability. Additionally, the company benefits from recurring revenue through long-term contracts with clients in various sectors, ensuring a steady income flow. Macfarlane's commitment to sustainability and innovation also attracts customers seeking environmentally friendly packaging options, further enhancing its market position and revenue potential.

Macfarlane Financial Statement Overview

Summary

Macfarlane demonstrates strong financial health with effective management of profitability and cash flows. The company faces revenue growth challenges, but its operational efficiency and cash generation capabilities are commendable. The balance sheet is stable, with a slight increase in leverage.

Income Statement

Macfarlane has maintained a strong gross profit margin, which indicates efficient production and pricing strategies. The net profit margin is stable, reflecting consistent profitability. However, the revenue growth rate has been negative, which could indicate potential challenges in expanding sales. Despite this, the EBIT and EBITDA margins remain healthy, showcasing good operational efficiency.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio, suggesting manageable leverage. Return on Equity (ROE) is strong, reflecting effective use of shareholders' funds. The equity ratio indicates a solid capital structure with a good proportion of equity funding total assets. However, the increase in total debt over the years warrants monitoring.

Cash Flow

The cash flow analysis reveals a robust operating cash flow to net income ratio, indicating strong cash generation relative to profits. The free cash flow to net income ratio is also favorable, demonstrating good cash availability after capital expenditures. Although free cash flow growth has been inconsistent, the overall cash flow position is solid.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	287.43M	270.44M	280.71M	290.43M	264.46M	210.23M
Gross Profit	109.30M	105.37M	105.68M	98.06M	89.47M	69.83M
EBITDA	36.27M	38.96M	36.19M	34.30M	31.73M	23.72M
Net Income	11.99M	15.53M	14.97M	15.64M	12.60M	10.17M
Balance Sheet
Total Assets	277.66M	246.93M	221.23M	216.16M	216.17M	172.71M
Cash, Cash Equivalents and Short-Term Investments	13.53M	12.93M	7.69M	5.71M	12.31M	7.23M
Total Debt	79.95M	57.72M	43.34M	43.71M	44.78M	36.46M
Total Liabilities	155.47M	123.66M	106.65M	110.14M	121.27M	92.93M
Stockholders Equity	122.18M	123.27M	114.58M	106.02M	94.89M	79.78M
Cash Flow
Free Cash Flow	20.82M	22.50M	31.33M	14.71M	21.67M	22.52M
Operating Cash Flow	23.75M	25.43M	33.51M	18.00M	23.80M	23.32M
Investing Cash Flow	-20.45M	-13.48M	-16.55M	-11.59M	-8.96M	-3.36M
Financing Cash Flow	1.06M	-6.01M	-15.32M	-13.18M	-7.94M	-18.05M

Macfarlane Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 72.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MACF, the sentiment is Positive. The current price of 72 is above the 20-day moving average (MA) of 71.78, above the 50-day MA of 70.57, and below the 200-day MA of 89.88, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 52.42 is Neutral, neither overbought nor oversold. The STOCH value of 41.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MACF.

Macfarlane Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MACF	72 Outperform	£112.88M	9.56	10.01%	5.24%	6.97%	-18.59%
ULTP	68 Neutral	£45.25M	7.91	12.08%	11.65%	-3.45%	-44.02%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
CAR	49 Neutral	£40.67M	20.63	―	―	-7.27%	―
PMP	48 Neutral	£13.65M	154.76	0.17%	―	-3.72%	―
HEAD	47 Neutral	£35.39M	-0.77	-19.28%	―	-11.65%	-273.57%
IGR	46 Neutral	£43.83M	-0.51	-41.98%	―	-38.64%	-792.57%

Macfarlane Corporate Events

Macfarlane Cancels 40,000 Shares as Buyback Programme Progresses

Macfarlane Group PLC has continued its previously announced share buyback programme with the purchase and cancellation of 40,000 ordinary shares on 30 January 2026 at a price of 71.705 pence per share, executed via Shore Capital Stockbrokers. Following this transaction, the company’s issued share capital stands at 157,074,491 ordinary shares, all carrying voting rights, clarifying the new total voting rights figure for shareholders monitoring their disclosure thresholds under FCA transparency rules and underlining the group’s active capital management strategy.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £74.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Reduces Share Capital with Further Buyback of 40,000 Shares

Macfarlane Group PLC has continued its previously announced share buyback programme with the purchase and cancellation of 40,000 ordinary shares at 71.47 pence each on 23 January 2026. Following this latest transaction, the company’s issued share capital stands at 157,114,491 ordinary shares, all carrying voting rights and with none held in treasury, a change that marginally increases existing shareholders’ proportional ownership and provides an updated denominator for investors monitoring disclosure thresholds under UK regulatory rules.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £74.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Cancels 30,000 Shares Under Ongoing Buyback Programme

Macfarlane Group has continued its previously announced share buyback programme with the repurchase and cancellation of 30,000 ordinary shares on 16 January 2026 at a volume-weighted average price of 71.817 pence, executed through Shore Capital Stockbrokers. Following this transaction, the company’s issued share capital stands at 157,154,491 ordinary shares, all carrying voting rights, a change that marginally enhances earnings per share and adjusts the denominator used by investors for calculating disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £73.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Cancels 30,000 Shares Under Ongoing Buyback Programme

Macfarlane Group PLC has bought back and cancelled 30,000 of its own ordinary shares at 72 pence per share as part of its ongoing share buyback programme, executed via Shore Capital Stockbrokers. Following this transaction, the company’s issued share capital now stands at 157,184,491 ordinary shares, all of which carry voting rights, providing an updated reference point for shareholders assessing their disclosure obligations under UK transparency rules and underscoring Macfarlane’s continued use of capital management tools to adjust its share base.

The most recent analyst rating on (GB:MACF) stock is a Buy with a £77.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Reduces Share Capital with Further Share Buyback

Macfarlane Group PLC has continued its previously announced share buyback programme with the purchase and cancellation of 60,000 ordinary shares at 72.18 pence each on 19 December 2025, executed through Shore Capital Stockbrokers. Following this transaction, the group’s issued share capital now comprises 157,214,491 ordinary shares with no shares held in treasury, setting the new total voting rights figure that shareholders must use when assessing disclosure thresholds under the FCA’s transparency rules and marginally enhancing existing investors’ proportional ownership.

The most recent analyst rating on (GB:MACF) stock is a Buy with a £77.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group Executes Share Buyback, Cancelling 60,000 Shares

Macfarlane Group PLC announced the purchase and cancellation of 60,000 ordinary shares as part of its share buyback program, impacting the company’s total voting rights and issued share capital. This move is part of Macfarlane’s strategy to manage its capital structure, potentially enhancing shareholder value and reflecting confidence in the company’s financial health.

The most recent analyst rating on (GB:MACF) stock is a Buy with a £77.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group Executes Share Buyback, Adjusts Voting Rights

Macfarlane Group PLC has announced the purchase and cancellation of 60,000 ordinary shares as part of its ongoing share buyback program. This transaction, executed through Shore Capital Stockbrokers Limited, results in a total issued share capital of 157,334,491 ordinary shares, impacting the company’s total voting rights and potentially affecting shareholder interests under the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:MACF) stock is a Buy with a £77.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group on Track to Meet 2025 Expectations Amid Recovery Efforts

Macfarlane Group PLC announced that it is on track to meet its full-year market expectations for 2025, despite challenges faced due to a recent incident at its Pitreavie business. The company is investing £1.2 million in new equipment to restore full operational capability by Q1 2026, which will aid in recovery and growth. Additionally, Macfarlane is considering a pension scheme buy-in to reduce future risks, which will result in a non-recurring accounting charge of £2-3 million. These strategic moves are aimed at stabilizing operations and improving the performance of its Distribution business.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £72.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group Advances Share Buyback Program with Recent Share Cancellation

Macfarlane Group PLC has announced the purchase and cancellation of 67,000 ordinary shares as part of its ongoing share buyback program, which was initiated in May 2025. This transaction, executed through Shore Capital Stockbrokers Limited, results in a total issued share capital of 157,394,491 ordinary shares, impacting the total voting rights available to shareholders. This strategic move is likely aimed at optimizing the company’s capital structure and enhancing shareholder value, reflecting Macfarlane’s commitment to maintaining a robust financial position in the competitive packaging industry.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group Executes Share Buyback, Cancels 60,000 Shares

Macfarlane Group PLC has executed a share buyback program, purchasing 60,000 ordinary shares at a price of 68.06 pence each, which have been cancelled, reducing the total issued share capital to 157,461,491 shares. This move is part of Macfarlane’s strategy to optimize its capital structure and potentially enhance shareholder value, reflecting the company’s robust position in the packaging industry and its commitment to maintaining transparency and compliance with regulatory requirements.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Macfarlane Group PLC Executes Share Buyback, Adjusts Voting Rights

Macfarlane Group PLC has announced the purchase and cancellation of 65,000 ordinary shares as part of its share buyback program, which was initiated in May 2025. This transaction adjusts the company’s issued share capital to 157,521,491 ordinary shares, impacting the total voting rights available to shareholders. The share buyback is a strategic move to optimize capital structure and potentially enhance shareholder value, reflecting Macfarlane’s commitment to maintaining a robust financial position within the packaging industry.

The most recent analyst rating on (GB:MACF) stock is a Hold with a £93.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.