SigmaRoc PLC (GB:SRC)
LSE:SRC
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SigmaRoc
(LSE:SRC)
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Rating:60Neutral
Price Target:
129.00 p
▼(-0.31% Downside)
Action:DowngradedDate:03/19/26
The score is driven primarily by improving financial performance (notably stronger 2025 profitability), offset by elevated balance-sheet/cash-conversion risk and a clearly weak technical setup (price below key moving averages and negative MACD). Valuation is reasonable on P/E, but lacks dividend yield support.
Positive Factors
Integrated downstream model
SigmaRoc’s downstream activities (asphalt, concrete and related solutions) let it convert raw aggregates into higher-value products, structurally lifting per-tonne margins and customer stickiness. This vertical integration supports durable margin resilience and broader end-market exposure across construction cycles.
Negative Factors
Elevated leverage
A debt load of ~£639m versus equity of ~£826m leaves moderate-to-elevated leverage for a construction-materials operator. This structure reduces financial flexibility, heightens refinancing and interest-rate risk, and can amplify earnings volatility during downturns in the cyclical construction market.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated downstream model
SigmaRoc’s downstream activities (asphalt, concrete and related solutions) let it convert raw aggregates into higher-value products, structurally lifting per-tonne margins and customer stickiness. This vertical integration supports durable margin resilience and broader end-market exposure across construction cycles.
Read all positive factors
SigmaRoc (SRC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.32B
Dividend YieldN/A
Average Volume (3M)3.60M
Price to Earnings (P/E)17.5
Beta (1Y)1.10
Revenue Growth32.27%
EPS GrowthN/A
CountryUK
Employees3,100
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.05
Shares Outstanding1,114,854,500
10 Day Avg. Volume3,653,084
30 Day Avg. Volume3,598,677
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)1.70
Price to Sales (P/S)1.35
P/FCF Ratio18.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£173.00Price Target Upside33.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.11
Revenue Forecast (FY)£1.07B
SigmaRoc Business Overview & Revenue Model
Company Description
SigmaRoc plc, through its subsidiaries, invests in and/or acquires projects in the construction materials sector in the United Kingdom, Northern Europe, the Channel Islands, and Belgium. The company also produces aggregates and pre-cast concrete; ...
How the Company Makes Money
SigmaRoc makes money primarily by selling industrial minerals and construction materials to customers in the construction and infrastructure value chain (e.g., contractors, asphalt and concrete producers, and other building-materials users). Its c...
SigmaRoc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
61
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.04B | 962.51M | 541.65M | 537.99M | 271.99M |
| Gross Profit | 268.99M | 228.57M | 123.56M | 115.94M | 61.92M |
| EBITDA | 238.59M | 163.86M | 77.86M | 89.69M | 22.93M |
| Net Income | 79.86M | 23.26M | 13.53M | 31.24M | -7.56M |
Balance Sheet | |||||
| Total Assets | 2.26B | 2.15B | 1.02B | 966.93M | 769.32M |
| Cash, Cash Equivalents and Short-Term Investments | 166.67M | 131.36M | 55.87M | 68.62M | 69.92M |
| Total Debt | 639.03M | 641.83M | 238.30M | 262.48M | 233.92M |
| Total Liabilities | 1.41B | 1.39B | 500.38M | 497.08M | 358.16M |
| Stockholders Equity | 825.57M | 724.77M | 500.74M | 458.12M | 400.26M |
Cash Flow | |||||
| Free Cash Flow | 75.71M | 42.01M | 9.08M | 35.01M | 6.92M |
| Operating Cash Flow | 171.12M | 117.02M | 52.12M | 87.73M | 29.54M |
| Investing Cash Flow | -91.39M | -584.63M | -64.56M | -85.53M | -375.16M |
| Financing Cash Flow | -51.86M | 547.89M | 957.00K | 2.88M | 388.54M |
SigmaRoc Technical Analysis
Negative
129.40
Price Trends
134.26
Negative
128.79
Negative
122.50
Negative
Market Momentum
-4.60
Negative
43.54
Neutral
75.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SRC, the sentiment is Negative. The current price of 129.4 is above the 20-day moving average (MA) of 119.05, below the 50-day MA of 134.26, and above the 200-day MA of 122.50, indicating a bearish trend. The MACD of -4.60 indicates Negative momentum. The RSI at 43.54 is Neutral, neither overbought nor oversold. The STOCH value of 75.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:SRC.
SigmaRoc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £1.05B | 13.59 | 7.14% | 4.47% | 7.83% | -7.40% | |
62 Neutral | £331.79M | 23.01 | 7.33% | 2.13% | 15.99% | 96.05% | |
62 Neutral | £64.37M | 21.11 | 3.91% | 5.35% | -0.29% | -33.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | £1.32B | 17.54 | 10.11% | ― | 32.27% | ― | |
53 Neutral | £361.91M | 31.71 | 2.91% | 4.18% | 1.31% | 10.19% | |
48 Neutral | £411.48M | 179.13 | 0.79% | 2.39% | 5.58% | 66.49% |
* Basic Materials Sector Average
GB:SRC
SigmaRoc
118.40
34.60
41.29%
GB:FORT
Forterra
158.60
1.79
1.14%
GB:IBST
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-46.34
-30.78%
GB:MSLH
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143.80
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-36.79%
GB:MBH
Michelmersh Brick Holdings
71.00
-17.41
-19.70%
GB:BREE
Breedon
303.60
-100.39
-24.85%
SigmaRoc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
SigmaRoc Secures €825m Refinancing to Fund Next Growth Phase
Positive
Mar 31, 2026
SigmaRoc has refinanced its main banking arrangements with a new increased facility of up to €825 million on investment‑grade terms, alongside a €300 million uncommitted accordion. The package centres on a five‑year unsecur...
Business Operations and Strategy
SigmaRoc Directors Boost Stakes as Lime and Minerals Group Backs Sustainable Growth
Positive
Mar 19, 2026
SigmaRoc plc, a quoted European lime and minerals producer listed on AIM, focuses on acquiring and managing lime and minerals assets in fragmented markets to build scale and efficiency. Its products support sustainability-linked applications such ...
Business Operations and Strategy
SigmaRoc Directors Lift Stakes as Lime Group Pursues Buy‑and‑Build Growth
Positive
Mar 19, 2026
SigmaRoc plc, the AIM‑quoted European lime and minerals specialist, produces lime and limestone products for industrial, construction, and environmental applications tied to the shift toward a more sustainable economy. The group grows by acq...
Business Operations and StrategyRegulatory Filings and Compliance
SigmaRoc Expands Employee Benefit Trust Stake in Share Capital
Positive
Mar 18, 2026
SigmaRoc has expanded the holdings of its employee benefit trust, with trustee JTC Employer Solutions Trustee Limited purchasing 8,540,166 ordinary shares at 116.86 pence per share. Following the transaction, the SigmaEBT now holds 11,466,889 ordi...
Business Operations and StrategyExecutive/Board Changes
SigmaRoc Aligns Executive Pay With Performance Through New Options and LTIP Grants
Positive
Mar 16, 2026
SigmaRoc has strengthened its executive incentive structure with the grant of a recruitment share option to Chief Financial Officer Jan van Beek over 2.5 million shares at an exercise price of 60 pence, vesting in January 2027 under its 2023 Share...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
SigmaRoc Delivers Record 2025 Earnings and Secures Larger Facility to Fund Next Growth Phase
Positive
Mar 16, 2026
SigmaRoc reported record audited full-year results for 2025, with revenue rising 3.8% to £1.04 billion and underlying EBITDA up 16.7% to £262 million, driving a margin increase to about 25.3% despite softer volumes in construction and st...
Business Operations and StrategyPrivate Placements and Financing
SigmaRoc Backs Electric Calcination Start-Up Litherm to Cut CO2 in Lime and Cement
Positive
Mar 3, 2026
SigmaRoc’s innovation arm, SkreenHouse Ventures, has invested about €1 million in Litherm Technologies’ €6.5 million seed round to support the development of fully electric calcination technology. Litherm’s process ai...
Business Operations and StrategyFinancial Disclosures
SigmaRoc Sets Date for 2025 Results and Plans Investor Briefings
Positive
Mar 3, 2026
SigmaRoc, a leading European lime and minerals producer listed on AIM, will publish its full‑year results for 2025 on 16 March 2026. The company operates in construction materials and sustainability‑linked applications, supplying lime ...
Executive/Board Changes
SigmaRoc Executives Exercise Options and Sell Shares, Insider Stakes Increase
Neutral
Jan 23, 2026
SigmaRoc has announced that its Chairman, David Barrett, and Chief Executive, Max Vermorken, have exercised share options granted under the company’s 2016 Share Option Plan on a cashless basis, acquiring 3.9 million and 8.2 million shares re...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
SigmaRoc Set to Beat 2025 Guidance as Synergies Lift Profits and Margins
Positive
Jan 19, 2026
SigmaRoc reported that it expects to beat its 2025 earnings-per-share guidance by around 10%, as underlying EBITDA rose more than 16% to exceed about £262m on revenue of £1.04bn, with margins improving sharply due to cost discipline and ...
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.