Mulberry (MUL) AI Stock Analysis

• Market Cap: £63.14M
• Dividend Yield: N/A
• Average Volume (3M): 2.81K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.26
• Revenue Growth: -21.23%
• EPS Growth: 16.09%
• Country: UK
• Employees: 1,300
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Footwear & Accessories
• EPS (TTM): -0.22
• Shares Outstanding: 70,577,194
• 10 Day Avg. Volume: 4,209
• 30 Day Avg. Volume: 2,811
• PEG Ratio: 0.20
• Price to Book (P/B): -20.64
• Price to Sales (P/S): 0.45
• P/FCF Ratio: 10.48
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: 93.00p ▲(3.33% Upside)

Mulberry's overall stock score is primarily impacted by its weak financial performance and unattractive valuation. The company's high leverage and negative profitability margins pose significant risks. Technical analysis provides mixed signals, offering no clear direction. Strategic improvements are necessary for future stability and growth.

Mulberry Business Overview & Revenue Model

Company Description

Mulberry Group plc, through its subsidiaries, designs and manufactures fashion accessories and clothing in the United Kingdom, Asia Pacific, and internationally. It provides briefcases, messenger bags, and backpacks; wallets, and purses and pouches; sunglasses, scarves, gloves and hats, belts, cufflinks, keyrings, and shoes; jewelry, organisers, leather care, and care products; gifts; and luggage, holdalls, bag, and other travel accessories for men and women, as well as ready-to-wear and eyewear products. The company sells its products through its retail shops, concessions, and wholesale distribution channels under the Mulberry brand, as well as sells its products online. Mulberry Group plc was founded in 1971 and is based in Bath, the United Kingdom. Mulberry Group plc is a subsidiary of Challice Limited.

How the Company Makes Money

Mulberry generates revenue through the sale of its luxury products, with key revenue streams coming from direct retail sales, wholesale partnerships, and e-commerce. The company's retail operations include flagship stores, concessions in high-end department stores, and a growing online presence, which allows for a broader reach to customers. Additionally, Mulberry collaborates with select retailers and luxury brands to expand its market presence and enhance brand visibility. The company also benefits from its strong brand heritage and loyal customer base, which contribute to repeat purchases and brand advocacy. Seasonal collections and limited-edition releases further drive sales by creating exclusivity and urgency among consumers.

Mulberry Financial Statement Overview

Summary

Mulberry's financial performance is concerning, with declining revenues and negative profitability margins. The company is highly leveraged with a negative stockholders' equity and a high debt-to-equity ratio. While there are some positive aspects in cash flow conversion, overall financial health is weak, necessitating strategic improvements.

Income Statement

Mulberry's income statement reveals a challenging financial position with declining revenue and profitability. The company experienced a significant revenue decline of 13.54% in the latest period, following a slight decrease in the previous year. The gross profit margin remains relatively strong at 66.81%, but the net profit margin is negative at -25.23%, indicating operational inefficiencies and high costs. The EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet shows a concerning financial structure with a negative stockholders' equity, resulting in a highly leveraged position. The debt-to-equity ratio is extremely high at -24.86, indicating significant financial risk. Despite this, the return on equity is positive at 11.67%, suggesting some ability to generate returns, albeit with high risk. The equity ratio is negative, highlighting the company's reliance on debt financing.

Cash Flow

Cash flow analysis indicates some positive aspects, with a free cash flow to net income ratio of 0.63, suggesting some ability to convert income into cash. However, the free cash flow growth rate is negative at -20.16%, reflecting a decline in cash generation. The operating cash flow to net income ratio is low at 0.14, indicating limited cash flow from operations relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	139.25M	120.39M	152.84M	159.13M	152.41M	114.95M
Gross Profit	81.49M	80.44M	107.14M	113.25M	109.31M	59.89M
EBITDA	-16.87M	-13.29M	-13.07M	30.93M	36.83M	21.97M
Net Income	-36.29M	-30.38M	-33.51M	13.24M	19.98M	4.77M
Balance Sheet
Total Assets	103.12M	86.69M	117.72M	159.25M	133.76M	119.88M
Cash, Cash Equivalents and Short-Term Investments	8.76M	8.20M	7.14M	6.87M	25.67M	11.82M
Total Debt	78.38M	64.71M	81.21M	84.16M	68.65M	78.55M
Total Liabilities	108.09M	97.47M	106.84M	112.48M	96.01M	101.18M
Stockholders Equity	2.38M	-2.60M	17.41M	53.21M	42.21M	22.27M
Cash Flow
Free Cash Flow	6.42M	5.13M	-9.65M	-10.21M	13.90M	12.45M
Operating Cash Flow	10.02M	8.10M	133.00K	834.00K	19.21M	16.57M
Investing Cash Flow	-5.66M	-2.86M	-10.02M	-14.17M	8.08M	-4.10M
Financing Cash Flow	-1.34M	-4.10M	10.35M	-5.70M	-13.43M	-8.32M

Mulberry Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 90.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MUL, the sentiment is Negative. The current price of 90 is below the 20-day moving average (MA) of 93.63, below the 50-day MA of 94.34, and below the 200-day MA of 94.30, indicating a bearish trend. The MACD of -1.16 indicates Positive momentum. The RSI at 27.41 is Positive, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:MUL.

Mulberry Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WOSG	74 Outperform	£917.97M	17.48	10.13%	―	7.39%	-8.50%
JD	71 Outperform	£4.30B	8.68	19.64%	1.18%	14.60%	58.84%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
DOCS	60 Neutral	£810.27M	178.40	1.23%	3.04%	-10.20%	-93.32%
THG	55 Neutral	£700.25M	-4.54	-18.75%	―	-20.36%	44.33%
BRBY	54 Neutral	£4.20B	-55.67	-7.28%	―	-17.08%	-128.46%
MUL	45 Neutral	£63.14M	-1.91	-410.43%	―	-21.23%	16.09%

Mulberry Corporate Events

Mulberry Group PLC Successfully Concludes AGM with Strategic Insights

Mulberry Group PLC announced that all resolutions proposed at its Annual General Meeting on September 10, 2025, were passed, except for one resolution which was withdrawn. The CEO, Andrea Baldo, presented the company’s strategy, and the presentation slides will be available on the company’s website. This development underscores Mulberry’s ongoing strategic initiatives and reflects shareholder support for the company’s direction.

The most recent analyst rating on (GB:MUL) stock is a Hold with a £96.00 price target. To see the full list of analyst forecasts on Mulberry stock, see the GB:MUL Stock Forecast page.

Mulberry Releases Annual Report and Announces AGM

Mulberry Group PLC has published its Annual Report and Accounts for the fiscal year ending 29 March 2025, which is now available on their website and has been distributed to shareholders. The report includes details about the upcoming annual general meeting scheduled for 10 September 2025 in London, inviting shareholders to attend and participate in person.

The most recent analyst rating on (GB:MUL) stock is a Hold with a £0.94 price target. To see the full list of analyst forecasts on Mulberry stock, see the GB:MUL Stock Forecast page.