Stelrad Group Plc (GB:SRAD)
LSE:SRAD
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Stelrad Group Plc
(LSE:SRAD)
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Rating:57Neutral
Price Target:
160.00 p
▲(19.40% Upside)
Action:Reiterated
Date: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
Deleveraging / Balance Sheet Strength
Sharp deleveraging materially reduces refinancing and solvency risk, giving management durable financial flexibility. Lower leverage supports steady access to liquidity, funds strategic capex or dividend policy, and improves resilience through building-cycle downturns over the next 2–6 months.
Negative Factors
Softening Revenue Trend
Consecutive years of revenue decline reduce scale advantages and may signal market-share loss or end-market weakness. Persistently lower top-line constrains reinvestment, limits margin expansion potential, and raises execution risk for hitting medium-term growth targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging / Balance Sheet Strength
Sharp deleveraging materially reduces refinancing and solvency risk, giving management durable financial flexibility. Lower leverage supports steady access to liquidity, funds strategic capex or dividend policy, and improves resilience through building-cycle downturns over the next 2–6 months.
Read all positive factors
Stelrad Group Plc (SRAD) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£197.40M
Dividend Yield4.39%
Average Volume (3M)128.61K
Price to Earnings (P/E)233.7
Beta (1Y)0.50
Revenue Growth-3.78%
EPS Growth-94.91%
CountryUK
Employees1,405
SectorIndustrials
Sector Strength72
IndustryConstruction
Share Statistics
EPS (TTM)<0.01
Shares Outstanding127,352,554
10 Day Avg. Volume74,892
30 Day Avg. Volume128,609
Financial Highlights & Ratios
PEG Ratio-2.24
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)£282.31M
Stelrad Group Plc Business Overview & Revenue Model
Company Description
Stelrad Group PLC is a key player in the production and supply of radiators, with operations spanning the United Kingdom, Ireland, various European countries, Turkey, and other global markets. The company provides a diverse array of heating soluti...
How the Company Makes Money
Stelrad Group Plc makes money primarily by selling radiators and related heating products to customers in the building and heating supply chain. Its core revenue stream is product sales (typically recognized when goods are delivered/accepted depen...
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 | 38.82M | 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
Positive
134.00
Price Trends
136.10
Positive
132.41
Positive
139.78
Positive
Market Momentum
6.48
Negative
65.82
Neutral
79.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SRAD, the sentiment is Positive. The current price of 134 is below the 20-day moving average (MA) of 144.12, below the 50-day MA of 136.10, and below the 200-day MA of 139.78, indicating a bullish trend. The MACD of 6.48 indicates Negative momentum. The RSI at 65.82 is Neutral, neither overbought nor oversold. The STOCH value of 79.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | £1.21B | 23.84 | 18.46% | 1.68% | 26.72% | 29.51% | |
66 Neutral | £86.75M | 11.61 | 18.04% | 4.63% | -3.47% | -21.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | £661.72M | 15.15 | 6.89% | 3.19% | 7.27% | 34.79% | |
58 Neutral | £107.42M | 11.34 | 9.23% | 3.97% | 12.74% | -3.35% | |
57 Neutral | £197.40M | 233.73 | 1.61% | 4.39% | -3.78% | -94.91% | |
53 Neutral | £271.46M | 918.18 | 0.15% | 3.48% | 6.87% | -91.28% |
* Industrials Sector Average
GB:SRAD
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Stelrad Group Plc Corporate Events
Business Operations and StrategyExecutive/Board Changes
Stelrad Appoints Stuart Watson as New Audit and Risk Committee Chair
Positive
Jun 18, 2026
Stelrad Group plc has appointed Stuart Watson as an Independent Non-Executive Director and Chair of its Audit and Risk Committee, effective 19 June 2026, while also joining the Remuneration and Nomination Committees. Watson brings extensive board ...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsRegulatory Filings and ComplianceShareholder Meetings
Stelrad Wins Strong Shareholder Backing at AGM, Secures Capital Flexibility
Positive
May 20, 2026
Stelrad Group plc reported that all resolutions at its 20 May 2026 annual general meeting were approved, including the adoption of the 2025 annual report and accounts, a final dividend of 5.05 pence per share, and the remuneration report. Sharehol...
Business Operations and StrategyFinancial Disclosures
Stelrad Holds Guidance as Operational Gains Offset Weak Demand
Positive
May 20, 2026
Stelrad Group plc reported that trading so far in 2026 is in line with management expectations, despite subdued market demand weighing on volumes. The radiator maker said continued commercial and operational initiatives have boosted profitability,...
Executive/Board ChangesRegulatory Filings and Compliance
Incoming Stelrad Chair Martyn Coffey Increases Stake with Share Purchase
Positive
May 12, 2026
Stelrad Group plc reported that Non-Executive Director and Board Chair Designate Martyn Coffey purchased 15,000 ordinary shares of the company on 12 May 2026. The transaction, conducted on the London Stock Exchange at a price of £1.3148 per s...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Stelrad publishes 2025 annual report and sets May date for AGM
Neutral
Apr 23, 2026
Stelrad Group plc, a leading manufacturer and distributor of steel panel and designer radiators serving the UK, European and Turkish markets, has published its Annual Report and Financial Statements for the year ended 31 December 2025, along with ...
Executive/Board ChangesShareholder Meetings
Stelrad appoints industry veteran Martyn Coffey as new chair amid board reshuffle
Positive
Apr 20, 2026
Stelrad Group plc has appointed Martyn Coffey as an independent non-executive director and chair designate, effective 1 May 2026, with Coffey to succeed long-serving chair Bob Ellis following the company’s AGM on 20 May 2026. Coffey brings e...
Executive/Board ChangesRegulatory Filings and Compliance
Stelrad CEO Cash-Settles Deferred Bonus as Existing Shares Used in Substitution
Neutral
Mar 31, 2026
Stelrad Group plc disclosed that deferred share awards granted in 2024 to executive directors under its Deferred Share Bonus Plan vested on 18 March 2026 and were settled in cash, based on the prevailing market price of £1.28 per share. Chief...
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.