Robert Walters PLC (GB:RWA)
LSE:RWA
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Robert Walters
(LSE:RWA)
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Rating:46Neutral
Price Target:
83.00 p
▼(-42.16% Downside)
Action:ReiteratedDate:03/12/26
The score is primarily weighed down by deteriorating financial performance (shrinking revenue, compressed margins, and losses) and a clearly bearish technical trend (price below all key moving averages and negative MACD). Positive operating/free cash flow and a very high dividend yield provide some support, but the sharp decline in free cash flow and loss-making profile keep the overall risk elevated.
Positive Factors
Persistent positive cash generation
The company continues to generate positive operating and free cash flow through 2024–2025 despite accounting losses. Durable cash generation supports working capital, funds core operations and discretionary investments, and reduces immediate refinancing pressure, providing a stabilizer during a multi-year revenue downturn.
Negative Factors
Three-year revenue decline
Sustained revenue contraction over multiple years erodes scale, reduces recurring placement opportunities, and weakens client relationships in a network-driven recruitment business. Over 2–6 months this trend constrains fee income, undermines operating leverage, and limits the firm's ability to invest in recruitment teams or geographic expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Persistent positive cash generation
The company continues to generate positive operating and free cash flow through 2024–2025 despite accounting losses. Durable cash generation supports working capital, funds core operations and discretionary investments, and reduces immediate refinancing pressure, providing a stabilizer during a multi-year revenue downturn.
Read all positive factors
Robert Walters (RWA) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£62.49M
Dividend Yield12.88%
Average Volume (3M)168.69K
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth-12.44%
EPS Growth-346.71%
CountryUK
Employees3,294
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)-0.24
Shares Outstanding72,357,700
10 Day Avg. Volume271,449
30 Day Avg. Volume168,695
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.88
Price to Sales (P/S)0.11
P/FCF Ratio11.93
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-30.31% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.27
Revenue Forecast (FY)£567.72M
Robert Walters Business Overview & Revenue Model
Company Description
Robert Walters plc, together with its subsidiaries, provides professional recruitment consultancy services worldwide. The company offers permanent, contract, and interim recruitment services in the fields of accounting and finance, banking and fin...
How the Company Makes Money
Robert Walters makes money primarily by earning recruitment fees for successfully placing candidates with client companies. Its main revenue streams are (1) permanent recruitment fees, typically charged as a percentage of the placed candidate’s ag...
Robert Walters Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
49
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 781.10M | 892.10M | 1.06B | 1.10B | 970.70M |
| Gross Profit | 251.70M | 321.40M | 386.80M | 428.20M | 353.60M |
| EBITDA | 7.60M | 28.10M | 49.60M | 80.80M | 74.20M |
| Net Income | -26.80M | -6.00M | 13.40M | 39.10M | 33.50M |
Balance Sheet | |||||
| Total Assets | 294.50M | 355.50M | 415.70M | 474.10M | 446.30M |
| Cash, Cash Equivalents and Short-Term Investments | 49.10M | 68.10M | 95.70M | 123.20M | 142.30M |
| Total Debt | 90.90M | 88.00M | 95.00M | 102.50M | 82.10M |
| Total Liabilities | 193.30M | 217.00M | 250.80M | 290.20M | 271.50M |
| Stockholders Equity | 101.20M | 138.50M | 164.90M | 183.90M | 174.80M |
Cash Flow | |||||
| Free Cash Flow | 7.50M | 9.70M | 29.60M | 22.20M | 20.40M |
| Operating Cash Flow | 8.90M | 19.80M | 45.50M | 38.10M | 33.60M |
| Investing Cash Flow | -5.90M | -9.40M | -14.20M | -15.50M | -12.80M |
| Financing Cash Flow | -21.50M | -33.90M | -52.20M | -47.50M | -27.20M |
Robert Walters Technical Analysis
Neutral
143.50
Price Trends
102.85
Positive
118.12
Negative
131.36
Negative
Market Momentum
-2.02
Negative
65.66
Neutral
83.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:RWA, the sentiment is Neutral. The current price of 143.5 is above the 20-day moving average (MA) of 86.17, above the 50-day MA of 102.85, and above the 200-day MA of 131.36, indicating a neutral trend. The MACD of -2.02 indicates Negative momentum. The RSI at 65.66 is Neutral, neither overbought nor oversold. The STOCH value of 83.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:RWA.
Robert Walters Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | £36.74M | 5.49 | 11.07% | 3.35% | 5.91% | 458.42% | |
69 Neutral | £209.19M | 12.17 | 7.83% | 6.35% | -12.77% | -63.39% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | £47.24M | 11.41 | 13.11% | ― | 11.46% | ― | |
48 Neutral | £422.26M | 81.54 | 4.18% | 7.58% | -8.19% | -67.95% | |
46 Neutral | £62.49M | -3.34 | -24.67% | 12.88% | -12.44% | -346.71% | |
45 Neutral | £534.11M | 748.65 | -2.24% | 1.76% | -4.16% | 26.67% |
* Industrials Sector Average
GB:RWA
Robert Walters
95.20
-120.80
-55.93%
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Robert Walters Corporate Events
Business Operations and StrategyFinancial Disclosures
Robert Walters edges back toward growth as outsourcing rebounds and costs tighten
Positive
Apr 15, 2026
Robert Walters reported first-quarter 2026 trading broadly in line with board expectations, with group net fees down 2% in constant currency but showing sequential improvement on 2025 and returning to year-on-year growth in March. Performance was ...
Business Operations and StrategyRegulatory Filings and Compliance
Robert Walters Keeps Executive Share Option Pool Unchanged in Latest Block Listing Return
Neutral
Apr 14, 2026
Robert Walters Plc reported its latest six‑monthly block listing return for its Executive Share Option Scheme, covering the period from 14 October 2025 to 13 April 2026. The company confirmed that the balance of unallotted securities under t...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Robert Walters Publishes 2025 Annual Report and Sets April AGM in London
Neutral
Apr 1, 2026
Robert Walters plc has published its Annual Report Accounts for the year ended 31 December 2025, making them available on its website and via the U.K. National Storage Mechanism for investor inspection. The company has also released the circular ...
Business Operations and StrategyExecutive/Board Changes
Robert Walters CFO Retires as Firm Installs Interim Finance Chief to Drive Transformation
Neutral
Mar 30, 2026
Robert Walters plc has announced the retirement of Chief Financial Officer David Bower, who will step down from the Board but remain available during a transition period, while the company launches a search for a permanent successor. The group has...
Business Operations and StrategyDividendsFinancial Disclosures
Robert Walters Swings to Loss but Tightens Costs as Select Markets Rebound
Negative
Mar 11, 2026
Robert Walters reported a 14% constant-currency decline in net fee income to £274.2m for 2025 and swung to a £14.9m operating loss, hit by cautious hiring sentiment and restructuring charges, leading the board to suspend the dividend to ...
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.