Next plc (GB:NXT)
LSE:NXT
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Next plc
(LSE:NXT)
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Rating:70Outperform
Price Target:
15,598.00 p
▲(16.06% Upside)
Action:Reiterated
Date:03/27/26
The score is driven mainly by strong financial performance (solid margins, robust growth, improving leverage, and strong cash generation). This is partially offset by weak near-term technical signals (below key moving averages with negative MACD), while valuation is supportive due to a reasonable P/E and a high dividend yield.
Positive Factors
Sustained Revenue Growth
Consistent multi-year revenue expansion, including a sharp step-up in 2026, signals durable demand and effective omnichannel execution. Sustained top-line growth supports scale economics, improves bargaining power with suppliers, and enables long-term reinvestment in logistics and digital channels.
Negative Factors
Residual Leverage
Although leverage has materially improved, the company still carries meaningful absolute debt versus history. This limits upside optionality, keeps interest expense sensitivity elevated, and constrains the pace of buybacks or aggressive expansion if cash flows deteriorate in a downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Consistent multi-year revenue expansion, including a sharp step-up in 2026, signals durable demand and effective omnichannel execution. Sustained top-line growth supports scale economics, improves bargaining power with suppliers, and enables long-term reinvestment in logistics and digital channels.
Read all positive factors
Next plc (NXT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£16.20B
Dividend Yield1.8%
Average Volume (3M)376.76K
Price to Earnings (P/E)19.5
Beta (1Y)0.65
Revenue Growth12.80%
EPS Growth23.60%
CountryUK
Employees32,931
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)7.40
Shares Outstanding119,656,815
10 Day Avg. Volume363,648
30 Day Avg. Volume376,763
Financial Highlights & Ratios
PEG Ratio0.74
Price to Book (P/B)9.33
Price to Sales (P/S)2.25
P/FCF Ratio15.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£14,933.33Price Target Upside11.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)7.96
Revenue Forecast (FY)£7.18B
Next plc Business Overview & Revenue Model
Company Description
NEXT plc operates as a prominent retailer specializing in apparel, footwear, and homeware, with its market presence extending across the United Kingdom, continental Europe, the Middle East, Asia, and other global territories. The company's diverse...
How the Company Makes Money
Next plc primarily makes money by selling products and services through several complementary streams. (1) Retail product sales: The largest source of revenue comes from selling Next-branded and third-party products across clothing and home catego...
Next plc Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | Jan 2026 | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.90B | 6.12B | 5.49B | 5.03B | 4.63B |
| Gross Profit | 3.05B | 2.64B | 2.42B | 2.21B | 1.98B |
| EBITDA | 1.28B | 1.39B | 1.35B | 1.17B | 1.13B |
| Net Income | 888.50M | 736.10M | 802.30M | 711.70M | 677.50M |
Balance Sheet | |||||
| Total Assets | 4.92B | 4.87B | 4.72B | 3.98B | 3.98B |
| Cash, Cash Equivalents and Short-Term Investments | 102.60M | 200.40M | 188.30M | 105.00M | 468.50M |
| Total Debt | 1.81B | 1.87B | 1.92B | 1.92B | 2.11B |
| Total Liabilities | 3.13B | 3.12B | 3.09B | 2.82B | 2.97B |
| Stockholders Equity | 1.66B | 1.64B | 1.51B | 1.16B | 1.01B |
Cash Flow | |||||
| Free Cash Flow | 1.00B | 976.40M | 932.10M | 494.30M | 626.70M |
| Operating Cash Flow | 1.14B | 1.13B | 1.12B | 740.40M | 893.00M |
| Investing Cash Flow | -119.90M | -181.20M | -334.40M | -271.40M | -292.50M |
| Financing Cash Flow | -1.13B | -939.60M | -663.30M | -727.10M | -993.40M |
Next plc Technical Analysis
Positive
13440.00
Price Trends
13244.40
Positive
13076.65
Positive
13001.74
Positive
Market Momentum
320.10
Negative
67.35
Neutral
82.29
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NXT, the sentiment is Positive. The current price of 13440 is below the 20-day moving average (MA) of 13466.75, above the 50-day MA of 13244.40, and above the 200-day MA of 13001.74, indicating a bullish trend. The MACD of 320.10 indicates Negative momentum. The RSI at 67.35 is Neutral, neither overbought nor oversold. The STOCH value of 82.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:NXT.
Next plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £3.24B | 6.66 | 21.64% | ― | -6.43% | 52.93% | |
70 Outperform | £16.20B | 19.54 | 52.86% | 1.80% | 12.80% | 23.60% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | £7.71B | 29.63 | 8.86% | 1.18% | 25.02% | -13.12% | |
53 Neutral | £4.13B | 197.45 | 2.29% | ― | -1.67% | ― | |
49 Neutral | £338.61M | -1.43 | -155.17% | ― | -15.00% | 21.71% | |
49 Neutral | £377.44M | -1.63 | -9999.00% | ― | 16.03% | 70.92% |
* Consumer Cyclical Sector Average
GB:NXT
Next plc
14,165.00
2,149.32
17.89%
GB:ASC
ASOS plc
274.50
-36.50
-11.74%
GB:BRBY
Burberry
1,127.50
71.50
6.77%
GB:MKS
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359.60
-2.65
-0.73%
GB:FRAS
Frasers Group
723.00
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5.86%
GB:DEBS
boohoo group Plc
24.00
1.15
5.03%
Next plc Corporate Events
Regulatory Filings and Compliance
Next plc Updates Total Voting Rights and Share Capital Structure
Neutral
Jun 1, 2026
Next plc has confirmed that as of 29 May 2026 its issued share capital stands at 119,656,811 ordinary shares of 10 pence each, with all shares carrying equal voting rights and none held in treasury. The clarified share count provides investors wit...
Stock BuybackRegulatory Filings and Compliance
Next Reduces Share Capital With Targeted Buyback of 46,889 Shares
Neutral
May 26, 2026
Next plc has bought back 46,889 of its ordinary shares on the market for cancellation, at a volume-weighted average price of 13,176.0768p, leaving 119,656,811 shares in issue. The transaction, executed via UBS across venues including the LSE, CHIX...
Stock Buyback
Next plc Cancels 85,000 Shares After Market Buyback
Positive
May 22, 2026
Next plc has reduced its share count after repurchasing 85,000 ordinary shares on 22 May 2026, at a volume-weighted average price of 13,088.1826p, for immediate cancellation. The buyback, executed via UBS across multiple trading venues, trims the ...
Stock BuybackRegulatory Filings and Compliance
Next Cuts Share Count with 85,000-Stock Buyback and Cancellation
Positive
May 21, 2026
Next plc has executed an on-market buyback of 85,000 ordinary shares at a volume-weighted average price of 13,004.2421 pence, with all repurchased shares to be cancelled, reducing its registered share capital to 119,788,700. The transaction, carri...
Business Operations and StrategyExecutive/Board Changes
Next plc Grants Long-Term Share Awards to Senior Executives
Positive
May 21, 2026
Next plc has granted conditional awards of ordinary shares under its Long Term Incentive Plan to key executives, including Chief Executive Lord Wolfson of Aspley Guise, Chief Financial Officer Jonathan Blanchard, and other senior directors. The aw...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsShareholder Meetings
Next shareholders back all resolutions at 2026 AGM
Positive
May 21, 2026
Next plc reported that shareholders approved all resolutions at its 2026 annual general meeting, including adoption of the latest accounts, remuneration policy and report, and a final dividend of 181 pence per share. The meeting also confirmed the...
Stock BuybackRegulatory Filings and Compliance
Next plc tightens share base with latest buyback and cancellation
Positive
May 20, 2026
Next plc has cancelled 90,000 of its ordinary 10p shares after buying them back on the open market at a volume-weighted average price of 12,818.8785p. The repurchase, executed through UBS AG’s London branch across multiple trading venues, re...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 85,000 Shares in Latest Buyback
Neutral
May 19, 2026
Next plc said it has bought back 85,000 ordinary shares on the market for cancellation, at a volume-weighted average price of 12,865.9633p per share, through its broker UBS AG London Branch. Following the transaction, the company’s registere...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 85,000 Shares After On‑Market Buyback
Positive
May 18, 2026
Next plc has executed an on-market share repurchase of 85,000 ordinary shares, which will be cancelled, reducing its issued share capital to 120,048,700 shares. The buyback, conducted through UBS AG’s London branch across multiple trading ve...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Cancels 100,000 Shares in Latest Buyback
Positive
May 15, 2026
Next plc has executed another share buyback, acquiring 100,000 ordinary shares of 10p each on 15 May 2026 at a volume-weighted average price of 12,427.0163p, with all repurchased shares to be cancelled. The transaction, carried out via UBS AG Lond...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Cancels 85,000 Shares in Latest Buyback Move
Positive
May 14, 2026
Next plc has bought back 85,000 of its ordinary shares on the market for cancellation, at a volume-weighted average price of 12,608.2617p, executed through its broker UBS AG London Branch. Following the transaction, the company’s registered ...
Stock BuybackRegulatory Filings and Compliance
Next plc Buys Back 85,000 Shares, Trimming Registered Capital
Positive
May 13, 2026
Next plc has continued its capital management programme with the on‑market repurchase and cancellation of 85,000 ordinary shares on 13 May 2026, at a volume‑weighted average price of 12,394.4626p. The transaction, executed via UBS AG&#...
Stock BuybackFinancial DisclosuresRegulatory Filings and Compliance
Next plc Buys Back 95,000 Shares for Cancellation
Positive
May 12, 2026
Next plc has bought back 95,000 of its ordinary 10p shares on the market for cancellation, at a volume-weighted average price of 12,594.1766p, reducing its registered share capital to 120,403,700 shares. The repurchase, executed via UBS AG’s...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Cancels 90,000 Shares in Latest Buyback Move
Positive
May 11, 2026
Next plc has bought back 90,000 of its own 10p ordinary shares on the market for cancellation, at a volume-weighted average price of 12,954.5905p, leaving a registered share capital of 120,498,700 shares. The purchases, executed via UBS across mul...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Cancels 90,000 Shares in Latest Buyback Move
Positive
May 8, 2026
Next plc has bought back 90,000 of its ordinary 10p shares on the market for cancellation, at a volume‑weighted average price of 13,181.4413p, executed through its broker UBS AG London Branch. The repurchase reduces the company’s regis...
Stock Buyback
Next trims share count with 87,000-share buyback
Positive
May 7, 2026
Next plc has bought back 87,000 of its 10p ordinary shares on the open market for cancellation, at a volume-weighted average price of 13,181.1786p, leaving 120,678,700 shares in issue. The transaction, executed via UBS across several trading venue...
Executive/Board ChangesRegulatory Filings and Compliance
Next CEO Lord Wolfson Receives Deferred Share Bonus Award
Neutral
May 7, 2026
Next plc disclosed a transaction involving Chief Executive Lord Wolfson, who received an award of 2,822 ordinary shares under the company’s Deferred Share Bonus Plan. The shares, settled outside a trading venue on 6 May 2026, were vested net...
Regulatory Filings and Compliance
Next Non-Executive Director Amy Stirling Buys Shares in Retailer
Positive
May 7, 2026
Next plc disclosed that non-executive director Amy Stirling, classified as a person discharging managerial responsibilities, has purchased 375 ordinary shares in the company on 7 May 2026. The trade, executed on the London Stock Exchange at a pric...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next trims share count with 122,000‑share buyback at near £130 level
Positive
May 6, 2026
Next plc has executed an on‑market buyback of 122,000 ordinary shares, paying a volume‑weighted average price of 12,993.6169p per share, with prices ranging between 12,500p and 13,165p. All repurchased shares will be cancelled, reducin...
Business Operations and StrategyStock BuybackFinancial Disclosures
Next lifts profit outlook as strong Q1 sales offset Middle East cost shock
Positive
May 6, 2026
Next plc reported a 6.2% rise in first‑quarter full‑price sales, beating its 4% forecast, with strong early‑season demand and robust online and international growth more than offsetting a decline in U.K. retail stores. The sales ...
Regulatory Filings and Compliance
Next plc Confirms Total Voting Rights and Share Capital Structure
Neutral
May 1, 2026
Next plc has confirmed that as of 30 April 2026 its issued share capital comprises 120,887,700 ordinary shares of 10 pence each, with no shares held in treasury and all stock carrying equal voting rights. The disclosure clarifies the company’...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Next plc Discloses Share Dealings by Brand Director Under 2020 Incentive Plan
Positive
Apr 27, 2026
Next plc disclosed a series of share-related transactions involving Brand Director Marcelle Stakol, who is classified as a person closely associated with a person discharging managerial responsibilities. The transactions form part of the company&#...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Next Awards Deferred Share Bonuses to Senior Executives After Strong Year
Positive
Apr 27, 2026
Next plc has granted conditional awards of ordinary shares to its top executives under its Deferred Share Bonus Plan, following strong performance in the year to January 2026 that delivered annual bonuses equal to 150% of base salary. The portion ...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Next Publishes 2026 Annual Report and Sets Date for AGM
Neutral
Apr 16, 2026
Next plc has published its Annual Report and Accounts for the year ended January 2026, which includes the notice of its upcoming Annual General Meeting. The report has been posted or made available to shareholders, uploaded to the UK National Stor...
Regulatory Filings and Compliance
Next plc Discloses Share Sale by Associate of Senior Executive
Neutral
Apr 8, 2026
Next plc has disclosed a share transaction involving a person closely associated with a senior executive, as required under the U.K. Market Abuse Regulation. The notification relates to Rebecca Papp, who is closely associated with Group Merchandis...
Executive/Board ChangesRegulatory Filings and Compliance
Next executives receive vested LTIP shares and reorganise family holdings
Neutral
Apr 1, 2026
Next plc has disclosed that its chief executive Lord Wolfson and several senior directors have received ordinary shares following the vesting of awards under the March 2023–2026 Long Term Incentive Plan. The awards, which were settled after ...
Regulatory Filings and Compliance
Next plc Confirms Share Capital and Total Voting Rights
Neutral
Apr 1, 2026
Next plc has confirmed that as of 31 March 2026 its registered share capital comprised 120,887,700 ordinary shares of 10 pence each, with no shares held in treasury and all shares carrying equal voting rights. The disclosure clarifies the company&...
DividendsFinancial DisclosuresShareholder Meetings
Next plc Publishes 2026 Results and Proposes Higher Dividend Payout
Positive
Mar 26, 2026
Next plc has published its preliminary results for the year ended 31 January 2026, making the full figures available via regulatory channels and its corporate website for investors and analysts to review. The release underlines continued transpare...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next Continues Buyback, Cancels 41,066 Shares to Trim Equity Base
Positive
Mar 25, 2026
Next plc has continued its previously announced share buyback programme, repurchasing 41,066 ordinary shares for cancellation on 25 March 2026 at a volume‑weighted average price of 12,161.0414 pence. The transaction, executed through UBSR...
Business Operations and StrategyStock Buyback
Next plc Buys Back 95,003 Shares to Cut Capital and Lift Investor Exposure
Positive
Mar 24, 2026
Next plc has continued its previously announced share buyback programme, repurchasing 95,003 ordinary shares for cancellation on 24 March 2026 at a volume-weighted average price of 12,010.1225 pence. The transaction, executed through UBS AG London...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 126,000 Shares in Ongoing Buyback Programme
Positive
Mar 23, 2026
Next plc has executed a further share buyback under its previously announced irrevocable, non-discretionary programme, repurchasing 126,000 ordinary shares for cancellation on 23 March 2026 at a volume-weighted average price of 12,117.3242 pence. ...
Stock BuybackRegulatory Filings and Compliance
Next Plc Cancels 124,000 Shares in Ongoing Buyback Programme
Positive
Mar 20, 2026
Next plc has continued its share buyback activity, purchasing 124,000 ordinary shares on 20 March 2026 under an existing non-discretionary programme, at a volume-weighted average price of 12,183p per share. The shares, bought via UBS across multip...
Stock Buyback
Next Continues Buyback Programme With 118,000-Share Repurchase
Positive
Mar 19, 2026
Next plc has continued executing its previously announced share buyback programme, repurchasing 118,000 ordinary shares for cancellation on 19 March 2026 at a volume-weighted average price of 12,339.64 pence. The transactions, carried out via UBS ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Continues Share Buyback, Trimming Share Capital
Positive
Mar 18, 2026
Next plc is a U.K.-based retailer focused on clothing, footwear, accessories and homeware, operating through a mix of high-street stores and a substantial online platform. The company targets mid-market consumers and is a constituent of the London...
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.