NAHL Group Plc (GB:NAH)
LSE:NAH
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NAHL Group Plc
(LSE:NAH)
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Rating:69Neutral
Price Target:
43.00 p
▲(26.47% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by improved 2025 financial performance and resilient cash generation, reinforced by a low P/E valuation. Technicals are supportive with positive momentum, while earnings-call risks around inquiry volumes, acquisition costs, and case-management weakness temper the outlook.
Positive Factors
Consistent cash generation
NAHL has delivered positive operating and free cash flow across the periods shown, with 2025 FCF rising sharply and nearly matching net income. Consistent FCF supports reinvestment, debt reduction and resilience through cycles, giving long-term operational flexibility and funding optionality.
Negative Factors
Earnings volatility and prior large loss
A sharp loss in 2024 followed by a 2025 rebound highlights earnings volatility and exposed operating sensitivity. Such swings complicate forecasting, capital allocation and confidence in sustained margins or ROE, increasing the risk that a single adverse event can materially weaken profitability again.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent cash generation
NAHL has delivered positive operating and free cash flow across the periods shown, with 2025 FCF rising sharply and nearly matching net income. Consistent FCF supports reinvestment, debt reduction and resilience through cycles, giving long-term operational flexibility and funding optionality.
Read all positive factors
NAHL Group Plc (NAH) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£19.53M
Dividend YieldN/A
Average Volume (3M)10.40K
Price to Earnings (P/E)5.1
Beta (1Y)0.04
Revenue Growth3.19%
EPS GrowthN/A
CountryUK
Employees282
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.07
Shares Outstanding48,226,105
10 Day Avg. Volume4,779
30 Day Avg. Volume10,398
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.74
Price to Sales (P/S)0.42
P/FCF Ratio2.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NAHL Group Plc Business Overview & Revenue Model
Company Description
NAHL Group Plc, together with its subsidiaries, provides products and services to individuals and businesses in the consumer legal services and catastrophic injury markets in the United Kingdom. The company operates through two divisions, Consumer...
How the Company Makes Money
NAHL Group Plc makes money primarily by generating and monetising consumer enquiries (leads) for legal claims and by earning income connected to insurance and other ancillary services associated with those claims.
1) Marketing-led legal enquiries...
NAHL Group Plc Earnings Call Summary
Earnings Call Date:Sep 24, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 29, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in profitability, cash generation, and a significant reduction in net debt. The Consumer Legal Services division showed impressive improvement in operating profit, and the Critical Care division maintained strong margins and demand for expert witness services. However, there were challenges in the case management market and a decline in inquiry volumes due to reduced demand from law firms and increased acquisition costs from Google algorithm changes.Positive Updates
Strong Growth in Profitability
Profit before tax increased by 289% to GBP 1.9 million, with an 89% increase in operating profit for the Consumer Legal Services division.
Negative Updates
Decline in Consumer Legal Services Revenue
Revenue in the Consumer Legal Services division was 3% lower, with Personal Injury revenues down 5%.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Growth in Profitability
Profit before tax increased by 289% to GBP 1.9 million, with an 89% increase in operating profit for the Consumer Legal Services division.
Read all positive updates
Company Guidance
In the recent investor presentation call, NAHL Group Plc provided a comprehensive overview of its interim results for the first half of 2025. The Group reported revenue of £19.2 million, consistent with the previous year, and a significant 289% increase in profit before tax to £1.9 million. This was buoyed by an 89% rise in operating profit within the Consumer Legal Services division. Basic earnings per share grew by over 300% to 3p, highlighting a robust financial performance. Cash generation was strong, with free cash flow up 119% at £1.5 million, enabling the Group to reduce its net debt to a 10-year low of £5.6 million from £7.1 million at the year's start. The Consumer Legal Services division showed a notable turnaround, with Personal Injury business operating profit doubling compared to the first half of 2024. This was supported by National Accident Law (NAL), which settled 1,648 claims generating £5.3 million in cash, a 33% increase year-on-year. Additionally, the Critical Care division maintained strong operating profit margins at 31.5%, with revenues, operating profit, and cash from operations all increasing. The Group's strategic focus remains on sustaining growth, leveraging opportunities in both its Consumer Legal Services and Critical Care divisions, and exploring potential acquisitions to enhance shareholder value.NAHL Group Plc Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 40.04M | 38.80M | 42.19M | 41.42M | 38.95M |
| Gross Profit | 19.90M | 18.37M | 18.71M | 16.19M | 15.92M |
| EBITDA | 7.97M | -36.71M | 3.32M | 6.48M | 5.91M |
| Net Income | 3.26M | -39.29M | 384.00K | 385.00K | 156.00K |
Balance Sheet | |||||
| Total Assets | 46.10M | 47.90M | 91.91M | 96.21M | 97.87M |
| Cash, Cash Equivalents and Short-Term Investments | 1.51M | 1.85M | 2.01M | 2.65M | 2.46M |
| Total Debt | 5.88M | 10.44M | 13.44M | 17.93M | 20.11M |
| Total Liabilities | 23.48M | 28.77M | 33.85M | 38.89M | 41.25M |
| Stockholders Equity | 22.62M | 19.13M | 58.06M | 57.32M | 56.62M |
Cash Flow | |||||
| Free Cash Flow | 6.54M | 4.89M | 7.20M | 5.74M | 4.52M |
| Operating Cash Flow | 6.60M | 5.08M | 7.51M | 6.02M | 5.14M |
| Investing Cash Flow | -2.37M | -130.00K | -339.00K | -3.56M | -4.04M |
| Financing Cash Flow | -4.57M | -5.11M | -7.82M | -2.26M | -2.25M |
NAHL Group Plc Technical Analysis
Positive
34.00
Price Trends
33.59
Positive
34.47
Positive
40.18
Positive
Market Momentum
2.32
Negative
68.84
Neutral
90.48
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NAH, the sentiment is Positive. The current price of 34 is below the 20-day moving average (MA) of 35.91, above the 50-day MA of 33.59, and below the 200-day MA of 40.18, indicating a bullish trend. The MACD of 2.32 indicates Negative momentum. The RSI at 68.84 is Neutral, neither overbought nor oversold. The STOCH value of 90.48 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:NAH.
NAHL Group Plc Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £36.54M | 67.27 | 19.89% | 2.29% | 3.32% | -10.58% | |
69 Neutral | £19.53M | 5.14 | -96.35% | ― | 3.19% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | £5.71M | -2.52 | 4.93% | ― | -8.35% | 57.48% | |
46 Neutral | £12.46M | -0.28 | -3.41% | ― | 1.84% | -1966.67% | |
45 Neutral | £15.15M | -1.11 | -37.24% | ― | -4.43% | -281.20% |
* Communication Services Sector Average
GB:NAH
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-32.79%
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NAHL Group Plc Corporate Events
Business Operations and StrategyFinancial Disclosures
NAHL Group swings back to profit and slashes debt on strong cash generation
Positive
May 7, 2026
NAHL Group reported a marked recovery in 2025, with revenue up 3.2% to £40m and underlying profit before tax surging 260% to £5m, turning a prior-year loss into a £4.4m pre-tax profit. Strong cash generation cut net debt by more tha...
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.