Next plc (GB:NXT)
LSE:NXT
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Next plc
(LSE:NXT)
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Rating:70Outperform
Price Target:
13,794.00 p
▲(10.00% Upside)
Action:ReiteratedDate: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
Consistent revenue and EPS growth
Next has delivered multi-year top-line expansion and double-digit EPS growth, indicating durable demand and improving operating leverage. Persistent revenue and earnings growth supports reinvestment in online logistics, platform scale and store productivity, strengthening long-term competitive position.
Negative Factors
Meaningful absolute debt level
Although leverage ratios have improved, the business still carries sizable absolute debt. High nominal debt can increase interest burden and constrain capital allocation choices, making the company more vulnerable to higher rates or revenue shocks over a multi-quarter horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue and EPS growth
Next has delivered multi-year top-line expansion and double-digit EPS growth, indicating durable demand and improving operating leverage. Persistent revenue and earnings growth supports reinvestment in online logistics, platform scale and store productivity, strengthening long-term competitive position.
Read all positive factors
Next plc (NXT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£14.38B
Dividend Yield1.8%
Average Volume (3M)376.76K
Price to Earnings (P/E)17.5
Beta (1Y)0.62
Revenue Growth9.74%
EPS Growth0.92%
CountryUK
Employees32,931
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)3.98
Shares Outstanding120,887,700
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
£15,342.86Price Target Upside22.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)7.75
Revenue Forecast (FY)£7.17B
Next plc Business Overview & Revenue Model
Company Description
NEXT plc engages in the retail of clothing, footwear, and home products in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. The company operates through NEXT Retail, NEXT Online, NEXT Finance, NEXT International Reta...
How the Company Makes Money
Next makes money primarily from retailing products under the Next brand (and selected third-party brands) through two main channels: (1) Online sales, where revenue is generated from direct-to-consumer e-commerce orders (including delivery income ...
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 | 1.21B | 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
Neutral
12540.00
Price Trends
12999.40
Negative
13271.78
Negative
12611.73
Negative
Market Momentum
-245.32
Positive
45.87
Neutral
34.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NXT, the sentiment is Neutral. The current price of 12540 is below the 20-day moving average (MA) of 12727.25, below the 50-day MA of 12999.40, and below the 200-day MA of 12611.73, indicating a bearish trend. The MACD of -245.32 indicates Positive momentum. The RSI at 45.87 is Neutral, neither overbought nor oversold. The STOCH value of 34.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | £2.75B | 2.38 | 21.64% | ― | -6.43% | 52.93% | |
70 Outperform | £14.38B | 17.45 | 51.86% | 1.80% | 9.74% | 0.92% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £6.70B | 298.74 | 0.69% | 1.18% | 14.13% | -96.12% | |
55 Neutral | £3.70B | -40.23 | -2.99% | ― | -9.44% | -170.53% | |
52 Neutral | £277.70M | -1.12 | -111.93% | ― | -14.89% | 12.08% | |
41 Neutral | £265.71M | -3.32 | -9999.00% | ― | -65.42% | 27.73% |
* Consumer Cyclical Sector Average
GB:NXT
Next plc
12,385.00
1,883.82
17.94%
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Next plc Corporate Events
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...
Stock BuybackRegulatory Filings and Compliance
Next Continues Buyback Programme With Fresh Share Cancellation
Positive
Mar 17, 2026
Next plc has continued its ongoing share buyback activity, repurchasing 1,498 ordinary shares for cancellation under an existing irrevocable, non-discretionary programme. The latest tranche was executed on 17 March 2026 via UBS AG’s London b...
Business Operations and StrategyStock Buyback
Next Shrinks Share Count With Further Buyback on 13 March
Positive
Mar 13, 2026
Next plc has continued executing its previously announced share buyback programme, repurchasing 98,121 ordinary shares for cancellation on 13 March 2026 at a volume-weighted average price of 12,797.8520 pence. The transactions, carried out through...
Stock BuybackRegulatory Filings and Compliance
Next plc Cuts Share Count with Latest Buyback Tranche
Neutral
Mar 12, 2026
Next plc has continued to shrink its share base as part of its previously announced buyback programme, repurchasing 119,000 ordinary shares on 12 March 2026 for cancellation. The transactions, executed via UBS across the LSE and alternative tradin...
Business Operations and StrategyStock Buyback
Next plc Cuts Share Count with £15m Buyback Tranche
Positive
Mar 11, 2026
Next plc has continued to shrink its share base, buying back 121,000 ordinary shares for cancellation on 11 March 2026 under its previously announced non-discretionary repurchase programme. The purchases, executed via UBS across venues including t...
Stock BuybackRegulatory Filings and Compliance
Next plc Buys Back 19,231 Shares for Cancellation, Updates Capital
Positive
Mar 10, 2026
Next plc has continued its share buyback activity, purchasing 19,231 ordinary shares for cancellation at a volume-weighted average price of 12,800 pence on 10 March 2026. The transactions were executed through UBS across multiple trading venues, i...
Stock BuybackRegulatory Filings and Compliance
Next Continues Buyback, Cancels Nearly 99,000 Shares to Cut Share Count
Positive
Mar 9, 2026
Next plc has continued its share buyback activity, repurchasing 98,946 ordinary shares for cancellation on 9 March 2026 at a volume-weighted average price of 12,800p, under an existing, irrevocable non-discretionary programme. The move, executed t...
Regulatory Filings and Compliance
Next plc Updates Market on Total Voting Rights and Share Capital
Neutral
Mar 2, 2026
Next plc has confirmed that, as of 27 February 2026, its registered share capital comprises 121,965,565 ordinary shares of 10 pence each, with all shares carrying equal voting rights and none held in treasury. The disclosure provides an updated to...
Stock BuybackRegulatory Filings and Compliance
Next Plc Reduces Share Capital With Further Buyback Tranche
Positive
Feb 17, 2026
Next plc has continued its recently announced share buyback programme, repurchasing 1,851 ordinary shares for cancellation on 17 February 2026 at a volume-weighted average price of 12,800p per share. The transaction, executed through UBS AG London...
Business Operations and StrategyStock Buyback
Next Continues Buyback as Share Capital Falls Below 122 Million
Positive
Feb 16, 2026
Next plc has continued its recently announced share buyback programme, repurchasing 39,033 ordinary shares for cancellation on 16 February 2026 at a volume-weighted average price of 12,794.0833 pence. The purchases, executed via UBS across the LSE...
Stock BuybackRegulatory Filings and Compliance
Next plc Cuts Share Count with Fresh £12.7k-a-Share Buyback
Positive
Feb 13, 2026
Next plc has repurchased 39,321 of its 10p ordinary shares for cancellation under an existing irrevocable, non-discretionary buyback programme announced on 12 February 2026. The shares were bought via UBS across several trading venues at a volume-...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next plc Launches Non-Discretionary Share Buyback Programme
Positive
Feb 12, 2026
Next plc has launched an irrevocable, non-discretionary share repurchase programme to buy back its own shares for cancellation between 13 February and 25 March 2026. The buyback will be conducted under pre-set parameters and within the companyR...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next trims share count with latest on‑market buyback
Positive
Feb 12, 2026
Next plc has continued its capital management programme with the on-market repurchase and cancellation of 58,425 ordinary shares at an average price of about 12,750.5 pence, executed through its broker UBS across multiple UK trading venues. Follow...
Business Operations and StrategyStock Buyback
Next plc Shrinks Share Capital with Latest Buyback
Positive
Feb 11, 2026
Next plc has executed another share buyback, purchasing 112,000 ordinary shares on the market for cancellation at an average price of 12,775.7035 pence, with trades conducted across the London Stock Exchange and alternative venues via its broker U...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Next trims share capital with targeted buyback on London market
Positive
Feb 11, 2026
Next plc has carried out another tranche of its share buyback programme, purchasing 95,679 ordinary shares for cancellation on 10 February at an average price of about 12,798 pence, with trades executed across the LSE and alternative venues via UB...
Business Operations and StrategyStock Buyback
Next plc Cuts Share Count With Fresh Buyback Tranche
Positive
Feb 9, 2026
Next plc has carried out another tranche of its share buyback programme, purchasing 103,449 ordinary shares on the market for cancellation at an average price of about 12,771 pence each. The buyback, executed via UBS across several trading venues,...
Stock Buyback
Next plc Cancels 6,249 Shares Following Market Buyback
Positive
Feb 6, 2026
Next plc has bought back 6,249 of its ordinary shares on the market for cancellation at an average price of 12,795.3145 pence per share, with prices ranging between 12,775p and 12,800p. Executed through its broker UBS AG London Branch across sever...
Business Operations and StrategyStock Buyback
Next plc Continues Capital Management Drive with Latest Share Buyback
Positive
Feb 5, 2026
Next plc has bought back 12,090 of its own ordinary shares on the market for cancellation at an average price of around 12,799 pence per share, with trades executed across multiple venues including the London Stock Exchange, CHIX, BATE and Aquis v...
Stock BuybackRegulatory Filings and Compliance
Next plc Cancels 2,950 Shares Following Latest Buyback
Positive
Feb 4, 2026
Next plc has carried out a further share buyback, purchasing 2,950 of its 10p ordinary shares on the London Stock Exchange at a price of 12,800 pence per share, with all shares acquired set to be cancelled. The transaction, executed via UBS AG Lon...
Regulatory Filings and Compliance
Next plc Confirms Total Voting Rights and Share Capital Structure
Neutral
Feb 2, 2026
Next plc has confirmed that, as of 30 January 2026, its registered share capital comprises 122,436,612 ordinary shares of 10 pence each, all carrying equal voting rights and with no shares held in treasury. The disclosure clarifies the companyR...
Business Operations and Strategy
Next Confirms Immediate Redemption of B Shares in Capital Return
Positive
Jan 16, 2026
Next plc has confirmed that, as part of its previously announced B Share Scheme capital return, the redemption of the newly issued B shares will take place today, with eligible shareholders expected to receive cash proceeds on or before 28 January...
Business Operations and StrategyStock Buyback
Next Launches £0.36-Per-Share B Share Redemption to Return Capital
Positive
Jan 15, 2026
Next plc has confirmed the allotment and issue of 122,436,612 B Shares, matching the number of ordinary shares in issue at the record time, as part of its previously announced B Share Scheme. The retailer plans to redeem these B Shares on 16 Janua...
Business Operations and StrategyShareholder Meetings
Next Shareholders Back B Share Scheme Resolutions at General Meeting
Positive
Jan 15, 2026
Next plc shareholders have approved key resolutions at a general meeting held on 15 January 2026, backing changes to the company’s articles of association and authorising the issue of B shares, both central to the group’s proposed B Sh...
Business Operations and StrategyExecutive/Board Changes
Next plc Unveils Boardroom Overhaul as Long-Serving Sales Chief Retires
Positive
Jan 9, 2026
Next plc has announced a series of board changes, led by the retirement of long-serving Group Sales, Marketing and HR Director Jane Shields, who will step down from the board in May 2026 after a 40-year career with the business. Her operational re...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Next lifts profit guidance after strong Christmas trading and sets measured growth outlook
Positive
Jan 6, 2026
Next plc reported robust Christmas trading, with full-price sales up 10.6% in the nine weeks to 27 December, well ahead of previous guidance, driven by resilient UK demand and a 38.3% surge in international online sales helped by higher marketing ...
Regulatory Filings and Compliance
Next plc Confirms Share Capital and Voting Rights as of Year-End 2025
Neutral
Jan 2, 2026
Next plc has reported that, as of 31 December 2025, its registered share capital comprises 122,436,612 ordinary shares of 10 pence each, all carrying equal voting rights and with no shares held in treasury. The disclosure provides investors and ot...
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.