Nichols PLC (GB:NICL)
LSE:NICL
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Nichols
(LSE:NICL)
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Rating:72Outperform
Price Target:
1,019.00 p
▲(9.10% Upside)
Action:UpgradedDate:03/24/26
The score is driven mainly by strong underlying financial performance (healthy margins and a very conservative balance sheet), partially offset by weaker technical signals (price below key moving averages with negative MACD). Valuation is supportive (mid-teens P/E and ~3.7% yield), and recent corporate updates are modestly positive.
Positive Factors
Balance sheet strength
Nichols' near-zero net debt and very low leverage provide durable financial flexibility. This reduces refinancing and interest risk, supports capacity to pay dividends, fund targeted M&A or marketing, and absorb shocks—benefits that remain relevant over a multi-quarter horizon.
Negative Factors
Weaker cash conversion
Despite rising reported profits, a large FCF drop and weak operating cash-to-EBIT conversion indicate working-capital timing or collection issues. Persistent weak conversion can constrain reinvestment, dividend sustainability and reduce financial shock absorptive capacity over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Nichols' near-zero net debt and very low leverage provide durable financial flexibility. This reduces refinancing and interest risk, supports capacity to pay dividends, fund targeted M&A or marketing, and absorb shocks—benefits that remain relevant over a multi-quarter horizon.
Read all positive factors
Nichols (NICL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£342.22M
Dividend Yield3.39%
Average Volume (3M)27.32K
Price to Earnings (P/E)16.3
Beta (1Y)0.61
Revenue Growth1.30%
EPS Growth20.13%
CountryUK
Employees297
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.35
Shares Outstanding36,569,570
10 Day Avg. Volume30,754
30 Day Avg. Volume27,324
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)3.68
Price to Sales (P/S)1.99
P/FCF Ratio23.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,435.00Price Target Upside53.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.72
Revenue Forecast (FY)£182.30M
Nichols Business Overview & Revenue Model
Company Description
Nichols plc, together with its subsidiaries, supplies soft drinks to the retail, wholesale, catering, licensed, and leisure industries in the United Kingdom. The company operates through two segments, Still and Carbonate. It offers still, cordial,...
How the Company Makes Money
Nichols makes money primarily by selling soft drinks and related beverage products under its brand portfolio, with Vimto as its flagship brand. Revenue is generated through (1) branded packaged products sold via retail and grocery channels (e.g., ...
Nichols Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 175.05M | 172.81M | 170.74M | 164.93M | 144.33M |
| Gross Profit | 80.67M | 78.95M | 72.18M | 71.02M | 65.17M |
| EBITDA | 33.79M | 26.06M | 26.72M | 18.49M | -12.53M |
| Net Income | 21.44M | 17.84M | 18.36M | 11.63M | -22.17M |
Balance Sheet | |||||
| Total Assets | 131.56M | 121.49M | 130.96M | 122.16M | 131.17M |
| Cash, Cash Equivalents and Short-Term Investments | 55.74M | 55.19M | 67.03M | 56.30M | 56.67M |
| Total Debt | 4.71M | 3.75M | 18.06M | 2.54M | 2.82M |
| Total Liabilities | 36.81M | 37.44M | 33.62M | 33.42M | 38.14M |
| Stockholders Equity | 94.75M | 84.05M | 97.34M | 88.74M | 93.03M |
Cash Flow | |||||
| Free Cash Flow | 14.66M | 16.05M | 21.63M | 15.09M | 18.66M |
| Operating Cash Flow | 15.61M | 16.90M | 22.11M | 16.34M | 19.90M |
| Investing Cash Flow | -791.00K | 1.65M | 1.81M | -802.00K | -1.25M |
| Financing Cash Flow | -12.76M | -31.91M | -11.09M | -15.91M | -9.27M |
Nichols Technical Analysis
Positive
934.00
Price Trends
946.95
Positive
957.32
Negative
1053.40
Negative
Market Momentum
-1.01
Negative
53.27
Neutral
34.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NICL, the sentiment is Positive. The current price of 934 is above the 20-day moving average (MA) of 933.60, below the 50-day MA of 946.95, and below the 200-day MA of 1053.40, indicating a neutral trend. The MACD of -1.01 indicates Negative momentum. The RSI at 53.27 is Neutral, neither overbought nor oversold. The STOCH value of 34.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:NICL.
Nichols Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £714.77M | 15.10 | 14.27% | 2.74% | 4.02% | 18.51% | |
72 Outperform | £342.22M | 16.26 | 23.59% | 3.39% | 1.30% | 20.13% | |
65 Neutral | £445.68M | 9.36 | 3.73% | 4.05% | -2.21% | ― | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | £339.48M | ― | 6.45% | 7.69% | ― | ― | |
57 Neutral | £966.23M | 43.61 | 9.32% | 2.11% | -11.80% | -8.61% | |
54 Neutral | £336.01M | 14.34 | -2.16% | 4.82% | 6.74% | 26.11% |
* Consumer Defensive Sector Average
GB:NICL
Nichols
936.00
-245.13
-20.75%
GB:FEVR
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841.50
88.59
11.77%
GB:BAG
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642.50
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GB:PZC
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80.10
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8.29%
GB:CCR
C&C Group Plc
121.00
-12.76
-9.54%
GB:54GW
Fuller Smith & Turner
105.50
9.03
9.36%
Nichols Corporate Events
Business Operations and StrategyExecutive/Board Changes
Nichols Rolls Out New Long-Term Incentive Plan for Senior Executives
Positive
Mar 24, 2026
Nichols plc has granted nil-cost share options under its Long Term Incentive Plan to several senior executives, including Chief Executive Officer Andrew Milne, with awards vesting after three years subject to continued employment and performance c...
DividendsFinancial DisclosuresShareholder Meetings
Nichols Publishes 2025 Annual Report and Sets AGM and Dividend Timetable
Positive
Mar 23, 2026
Nichols plc has published its Annual Report and Accounts for the year ended 31 December 2025 and circulated the notice of its 2026 Annual General Meeting to shareholders, with the documents also available on its website. The AGM will be held at th...
Business Operations and StrategyExecutive/Board Changes
Nichols Grants Nil-Cost Share Options to Senior Management Under Incentive Plan
Positive
Mar 17, 2026
Nichols plc has granted nil-cost share options over ordinary shares to several directors and senior managers under its Hybrid Incentive Plan, following the completion of the 2025 financial year. The awards, which cover a total of tens of thousands...
Business Operations and StrategyExecutive/Board Changes
Nichols Grants Nil-Cost Share Options to Senior Leadership
Positive
Mar 17, 2026
Nichols plc has granted nil-cost options over ordinary shares to its chief executive and several senior managers under the Nichols Hybrid Incentive Plan, following completion of the 2025 financial year. The options, which cover tens of thousands o...
Business Operations and StrategyDividendsFinancial Disclosures
Nichols lifts profits and margins as Vimto drives record UK sales
Positive
Mar 11, 2026
Nichols reported a modest 1.3% increase in 2025 group revenue to £175.1m but delivered significantly stronger profitability, with adjusted operating profit up 9.9% and margins improving on the back of disciplined cost control, a shift to high...
Business Operations and StrategyFinancial Disclosures
Nichols Sets March Date for 2025 Results and Investor Briefing
Neutral
Mar 6, 2026
Nichols plc has announced it will publish its preliminary results for the year ended 31 December 2025 on 11 March 2026. The diversified soft drinks group plans to accompany the release with a live investor presentation, underlining its commitment ...
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures
Nichols Delivers Margin-Focused Growth and Signals Confidence for 2026
Positive
Jan 14, 2026
Nichols reported that revenue for the year to 31 December 2025 rose 1.3% to £175.0m, with adjusted profit before tax expected to be in line with market expectations, as it continued to shift towards a higher-margin concentrate model in Africa...
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.