Stelrad Group Plc (GB:SRAD)
LSE:SRAD
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Stelrad Group Plc
(LSE:SRAD)
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Rating:57Neutral
Price Target:
135.00 p
▲(0.75% Upside)
Action:ReiteratedDate:03/15/26
The score is primarily supported by improving financial resilience (sharp deleveraging) and solid, positive free cash flow. Offsetting this are weak earnings quality in 2025 (net income compression) and bearish technicals with the stock trading below key moving averages and negative MACD; valuation is mixed with a high dividend yield but a negative P/E.
Positive Factors
Balance sheet deleveraging
Sharp debt reduction materially lowers refinancing and liquidity risk and increases strategic optionality. With a much lighter leverage profile the company can better withstand cyclicality, fund capex or dividends and pursue modest M&A without straining cash flow.
Negative Factors
Revenue softness
Persistent top-line declines reduce scale benefits and constrain margin expansion opportunities. Lower volumes pressure working capital and limit ability to grow cash flow organically, making investment and dividend policies more dependent on cyclical recovery or strategic change.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet deleveraging
Sharp debt reduction materially lowers refinancing and liquidity risk and increases strategic optionality. With a much lighter leverage profile the company can better withstand cyclicality, fund capex or dividends and pursue modest M&A without straining cash flow.
Read all positive factors
Stelrad Group Plc (SRAD) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£161.74M
Dividend Yield4.39%
Average Volume (3M)128.61K
Price to Earnings (P/E)212.0
Beta (1Y)0.45
Revenue Growth-3.78%
EPS Growth-94.91%
CountryUK
Employees1,405
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)0.03
Shares Outstanding127,352,554
10 Day Avg. Volume74,892
30 Day Avg. Volume128,609
Financial Highlights & Ratios
PEG Ratio-2.23
Price to Book (P/B)3.35
Price to Sales (P/S)0.64
P/FCF Ratio8.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£190.00Price Target Upside41.79% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.14
Revenue Forecast (FY)£282.30M
Stelrad Group Plc Business Overview & Revenue Model
Company Description
Stelrad Group PLC manufactures and distributes radiators in the United Kingdom, Ireland, Europe, Turkey, and internationally. It provides steel panel radiators, low surface temperature radiators, towel warmers, decorative steel tubular radiators, ...
How the Company Makes Money
Stelrad makes money primarily by selling radiators and related heating products to the building products/heating supply chain. Its main revenue stream is product sales (e.g., steel panel radiators and associated hydronic heating components) delive...
Stelrad Group Plc Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
68
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 279.60M | 290.58M | 308.19M | 316.31M | 272.29M |
| Gross Profit | 86.27M | 88.96M | 86.85M | 80.07M | 80.01M |
| EBITDA | 27.09M | 42.31M | 37.39M | 24.20M | 33.85M |
| Net Income | 844.00K | 16.52M | 15.42M | 4.31M | 14.66M |
Balance Sheet | |||||
| Total Assets | 206.87M | 220.88M | 235.22M | 262.40M | 179.17M |
| Cash, Cash Equivalents and Short-Term Investments | 18.98M | 18.63M | 21.44M | 22.64M | 15.56M |
| Total Debt | 76.99M | 85.54M | 90.70M | 100.03M | 64.66M |
| Total Liabilities | 153.49M | 163.29M | 180.02M | 210.95M | 152.25M |
| Stockholders Equity | 53.38M | 57.59M | 55.20M | 51.45M | 26.91M |
Cash Flow | |||||
| Free Cash Flow | 22.29M | 19.55M | 26.48M | 13.49M | 12.81M |
| Operating Cash Flow | 27.50M | 25.41M | 33.57M | 23.33M | 21.45M |
| Investing Cash Flow | -5.07M | -5.62M | -6.74M | -30.00M | -8.16M |
| Financing Cash Flow | -22.88M | -21.80M | -27.63M | 14.71M | -9.78M |
Stelrad Group Plc Technical Analysis
Neutral
134.00
Price Trends
132.82
Positive
136.40
Negative
150.35
Negative
Market Momentum
0.81
Negative
59.19
Neutral
89.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SRAD, the sentiment is Neutral. The current price of 134 is above the 20-day moving average (MA) of 126.20, above the 50-day MA of 132.82, and below the 200-day MA of 150.35, indicating a neutral trend. The MACD of 0.81 indicates Negative momentum. The RSI at 59.19 is Neutral, neither overbought nor oversold. The STOCH value of 89.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:SRAD.
Stelrad Group Plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £249.81M | 117.95 | 6.14% | 3.48% | -3.93% | 41.83% | |
73 Outperform | £1.23B | 11.05 | 18.46% | 1.68% | 26.72% | 29.51% | |
66 Neutral | £87.65M | 7.45 | 18.04% | 4.63% | -3.47% | -21.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | £675.41M | 18.00 | 6.89% | 3.19% | 7.27% | 34.79% | |
58 Neutral | £111.36M | 13.69 | 9.23% | 3.97% | 12.74% | -3.35% | |
57 Neutral | £161.74M | 212.00 | 1.61% | 4.39% | -3.78% | -94.91% |
* Industrials Sector Average
GB:SRAD
Stelrad Group Plc
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Stelrad Group Plc Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Stelrad Lifts Profit Quality and Cash Flow Despite Softer 2025 Revenue
Positive
Mar 13, 2026
Stelrad reported 2025 revenue down 3.8% to £279.6 million amid subdued demand in the UK, Ireland and Europe, but grew adjusted operating profit 3% to £32.5 million and lifted adjusted margins through product mix and cost efficiencies. St...
Executive/Board ChangesShareholder Meetings
Stelrad Non-Executive Martin Payne to Join Ibstock Board as He Prepares to Exit Stelrad
Neutral
Mar 5, 2026
Stelrad Group plc has announced that Independent Non-Executive Director Martin Payne has been appointed as an Independent Non-Executive Director of Ibstock plc, with the new role taking effect from 30 March 2026. This change underscores ongoing bo...
Executive/Board Changes
Stelrad Announces Planned Retirement of Audit Committee Chair Martin Payne
Neutral
Feb 18, 2026
Stelrad Group plc announced that Non-Executive Director Martin Payne, who also serves as Chair of the Audit Risk Committee and sits on the Nomination and Remuneration Committees, will retire from the Board at the conclusion of the company’s...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Stelrad Lifts Profit and Margins Despite Weak Radiator Markets
Positive
Jan 30, 2026
Stelrad Group reported another year of adjusted operating profit growth for 2025 despite subdued demand in its core UK and European radiator markets, with revenue of around £280m and a 4% decline in overall volumes offset by improved product ...
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.