Mulberry Group PLC (GB:MUL)
LSE:MUL
Want to see GB:MUL full AI Analyst Report?
Top Page
Mulberry
(LSE:MUL)
Select Model
Select Model
Rating:52Neutral
Price Target:
117.00 p
▲(11.43% Upside)
Action:ReiteratedDate:12/07/25
Mulberry's overall stock score is primarily influenced by its challenging financial performance, with significant risks due to declining revenues and high leverage. However, technical indicators show bullish momentum, and recent corporate events suggest strategic improvements, providing some optimism for future performance.
Positive Factors
High Gross Margin
A gross margin of ~66.8% provides structural cushion against input cost volatility and supports gross-profit driven investments in marketing and DTC expansion. If fixed costs are controlled, this margin base improves the path to restoring operating profitability over multiple quarters.
Negative Factors
Declining Revenue Trend
Sustained top-line decline (double-digit revenue contraction) undermines scale economics and makes fixed-cost absorption harder. Ongoing revenue declines constrain margin recovery, limit cash generation expansion, and increase pressure on management to restore demand or restructure costs.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margin
A gross margin of ~66.8% provides structural cushion against input cost volatility and supports gross-profit driven investments in marketing and DTC expansion. If fixed costs are controlled, this margin base improves the path to restoring operating profitability over multiple quarters.
Read all positive factors
Mulberry (MUL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£81.39M
Dividend YieldN/A
Average Volume (3M)2.81K
Price to Earnings (P/E)―
Beta (1Y)0.17
Revenue Growth-15.13%
EPS Growth48.56%
CountryUK
Employees1,300
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-0.11
Shares Outstanding70,577,194
10 Day Avg. Volume4,209
30 Day Avg. Volume2,811
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)-20.64
Price to Sales (P/S)0.45
P/FCF Ratio10.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£100.00Price Target Upside-4.76% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.06
Revenue Forecast (FY)N/A
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 pouche...
How the Company Makes Money
Mulberry primarily makes money by selling branded luxury products through multiple channels. (1) Direct-to-consumer (DTC) retail revenue: Sales generated in company-operated Mulberry stores and concessions, where Mulberry captures the full retail ...
Mulberry Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
30
Negative
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Sep 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 118.18M | 120.39M | 152.84M | 159.13M | 152.41M | 114.95M |
| Gross Profit | 81.00M | 80.44M | 107.14M | 113.25M | 109.31M | 59.89M |
| EBITDA | -5.63M | -13.29M | -13.07M | 30.93M | 36.83M | 21.97M |
| Net Income | -21.91M | -30.38M | -33.51M | 13.24M | 19.98M | 4.77M |
Balance Sheet | ||||||
| Total Assets | 83.42M | 86.69M | 117.72M | 159.25M | 133.76M | 119.88M |
| Cash, Cash Equivalents and Short-Term Investments | 7.20M | 8.20M | 7.14M | 6.87M | 25.67M | 11.82M |
| Total Debt | 68.17M | 64.71M | 81.21M | 84.16M | 68.65M | 78.55M |
| Total Liabilities | 100.94M | 97.47M | 106.84M | 112.48M | 96.01M | 101.18M |
| Stockholders Equity | -9.22M | -2.60M | 17.41M | 53.21M | 42.21M | 22.27M |
Cash Flow | ||||||
| Free Cash Flow | -9.82M | 5.13M | -9.65M | -10.21M | 13.90M | 12.45M |
| Operating Cash Flow | -9.31M | 8.10M | 133.00K | 834.00K | 19.21M | 16.57M |
| Investing Cash Flow | -1.26M | -2.86M | -10.02M | -14.17M | 8.08M | -4.10M |
| Financing Cash Flow | 9.09M | -4.10M | 10.35M | -5.70M | -13.43M | -8.32M |
Mulberry Technical Analysis
Positive
105.00
Price Trends
100.07
Negative
101.78
Negative
98.09
Positive
Market Momentum
-0.31
Negative
60.45
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MUL, the sentiment is Positive. The current price of 105 is above the 20-day moving average (MA) of 98.25, above the 50-day MA of 100.07, and above the 200-day MA of 98.09, indicating a neutral trend. The MACD of -0.31 indicates Negative momentum. The RSI at 60.45 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MUL.
Mulberry Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £1.27B | 23.58 | 5.88% | 1.18% | 9.51% | -31.96% | |
64 Neutral | £589.71M | -23.98 | 4.40% | 3.36% | -2.59% | -46.13% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | £4.05B | -40.23 | -2.99% | ― | -9.44% | -170.53% | |
54 Neutral | £275.31M | -0.65 | -155.17% | ― | -15.00% | 21.71% | |
52 Neutral | £81.39M | -2.45 | 370.62% | ― | -15.13% | 48.56% | |
41 Neutral | £259.68M | -3.32 | -9999.00% | ― | -65.42% | 27.73% |
* Consumer Cyclical Sector Average
GB:MUL
Mulberry
116.00
33.50
40.61%
GB:ASC
ASOS plc
230.50
-56.50
-19.69%
GB:BRBY
Burberry
1,130.40
406.80
56.22%
GB:DEBS
boohoo group Plc
17.20
-4.40
-20.37%
GB:CURY
Currys plc
122.50
13.64
12.52%
GB:DOCS
Dr. Martens Plc
61.00
7.70
14.44%
Mulberry Corporate Events
Business Operations and StrategyFinancial Disclosures
Mulberry’s Turnaround Gains Pace on Strong H2 and Full‑Price Focus
Positive
Apr 20, 2026
Mulberry reported a strong second half for the 52 weeks to 28 March 2026, with constant‑currency sales up 13.6% in H2, driving full‑year growth of 5.7% and broad‑based like‑for‑like gains across all key regions. Manag...
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.