Mha Ltd (MHA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Mha Ltd stock £2.60, price £1.45, upside +79.3%, quality 77 out of 100. Rating: strongly undervalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
Mha Plc offers financial and business strategy services to enterprises and individuals. The company's services include business advice, audit, accountancy, tax, vat, corporate finance, corporate recovery, counter fraud, business strategy, outsourcing, cloud accounting, and business advice.
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The company was formerly known as Project Balance Topco 1 PLC and changed its name to Mha Plc in March 2025. The company was founded in 1869 and is based in Milton Keynes, the United Kingdom.
Stock analysis
Mha Ltd (MHA) currently trades at £1.45, while our model-based Fair Value estimate is £2.60, implying the stock looks roughly 44% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of £3.78 per share, and 7 of the 13 models we run sit above the £1.45 price.
Bear case: the Multiples group reads lowest at £0.7100, and 6 of the 13 models stay below the price. Data coverage for this calculation is high.
Scenario range: £0.9600 (bear) to £4.30 (bull), the price of £1.45 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 77/100 (high quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mha Ltd reported revenue of £251M in FY2026 versus £90.8M in FY2022, a compound +29.0%/yr. Reported net income was £28.1M in FY2026, compounding −3.0%/yr from FY2022.
Key figures
Market cap £413M Small · P/E ratio 13.2 · P/S ratio 1.64 · EPS (TTM) £0.1100 · Dividend yield 3.6% · Net margin 11.2% · Return on equity 43.8% · Return on assets (EBIT) 43.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −15% fair-value upside, at 79%, MHA screens cheaper than that median.
Fair Value models
Bear£0.9600Fair Value £2.60Bull£4.30
Price £1.45 · Upside +79.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (£0.0353 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+0.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−3.3%
Dividend (yield on the price)3.6%
Profit margin 2022 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.37% → 16%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−10.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about −12.5% a year for the price and +3.1% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Business Services · 230 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+79.3% · Top 25%
Profitability
Return on equity (12 months)43.8% · Top 25%
Return on assets16.8% · Top 25%
Net margin (12 months)11.2% · Top 25%
Operating margin (12 months)14.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.2% · Above median
Dividend yield (12 months)3.6% · Above median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Mha Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MHA
Frequently asked questions
Is Mha Ltd (MHA) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of £2.60 versus a price of £1.45, about +79% upside (undervalued).
What is the fair value of MHA?
Our model-based fair value for Mha Ltd is £2.60 (as of Nov 7, 2026), built from audited fundamentals. The current price: £1.45.
What is the quality score of MHA?
Mha Ltd has a Quality Score of 77/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Mha Ltd (MHA)?
Our model-based price target is the fair value of £2.60 (as of Nov 7, 2026) from 13 valuation models. Cautious scenario £0.9600, optimistic scenario £4.30. It is a calculation from audited fundamentals, not an analyst target.
What is the Mha Ltd stock forecast for 2026?
Our models put fair value at £2.60, about +79% upside versus a price of £1.45 (undervalued). Cautious scenario £0.9600, optimistic scenario £4.30. The calculation is refreshed regularly with new filings.
What is the revenue of Mha Ltd (MHA)?
Mha Ltd reported trailing-twelve-month revenue of about £251M (latest available figure, as of Nov 7, 2026).
Does Mha Ltd pay a dividend?
Mha Ltd currently shows a dividend yield of 3.59% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Mha Ltd (MHA) and when is the ex-dividend date?
Mha Ltd pays a dividend of £0.052 per share a year, a dividend yield of 3.6%. The last ex-dividend date was Aug 27, 2026. The payout ratio is 47.3% of earnings. Free cash flow covers the dividend 4.83 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Mha Ltd (MHA)?
For today's price to be fair in a discounted-cash-flow model, Mha Ltd would have to grow free cash flow by -10.5 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +29.0 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MHA use?
Our models discount Mha Ltd at 11.8 %: a base by market capitalisation (small), country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mha Ltd that is -10.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Mha Ltd (MHA) delivered so far?
Over the past 4 years revenue at Mha Ltd grew +29.0 % a year. The price currently implies free-cash-flow growth of -10.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mha Ltd (MHA) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Mha Ltd (-10.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mha Ltd (MHA)?
The free-cash-flow yield on the price is 17.35 %: that much free cash flow Mha Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mha Ltd (MHA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mha Ltd it is £2.60 per share (as of Nov 7, 2026), against a price of £1.45. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Mha Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MHA trades below its calculated fair value: price £1.45, fair value £2.60, a gap of about +79% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MHA?
No. The price is what the market pays today (£1.45); the fair value is what the company's own numbers justify (£2.60). For Mha Ltd the two are £1.15 per share apart. That gap is exactly why we show both numbers side by side.
How much is Mha Ltd worth?
The market values Mha Ltd at about £413M (market capitalisation, as of Nov 7, 2026). Per share that is £1.45; our models calculate a fair value of £2.60 per share.
What do the bullish and bearish scenarios say about MHA?
Our models span a range for Mha Ltd: cautious scenario £0.9600, base £2.60, optimistic £4.30 per share (as of Nov 7, 2026, price £1.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MHA?
Mha Ltd trades at a price-to-earnings ratio of 13.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £2.60 is built from several models across several years. Other multiples: P/B 7.5, P/S 1.6, EV/EBITDA 9.9.
How solid is the balance sheet of Mha Ltd (MHA)?
Balance-sheet figures for Mha Ltd (as of Nov 7, 2026): return on equity 43.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is MHA from its 52-week high?
Mha Ltd trades at £1.45, about 16% below its 52-week high of £1.72 and 23% above the low of £1.18 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £2.60 is for.
Which stocks are comparable to Mha Ltd?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Mha Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price £1.45, calculated fair value £2.60 (+79%), Quality Score 77/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MHA calculated?
We run Mha Ltd through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of £2.60 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Mha Ltd currently trades 44% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Mha Ltd (MHA)?
The closing price on Nov 6, 2026 was £1.45. Our model-based fair value is £2.60, about +79% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mha Ltd right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (£0.9600 to £4.30). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Mha Ltd
How large is the market capitalisation of Mha Ltd (MHA)?
The market capitalisation of Mha Ltd is £413M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Mha Ltd (MHA)?
The price-to-sales ratio of Mha Ltd is 1.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mha Ltd (MHA)?
Earnings per share at Mha Ltd are £0.1100 (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mha Ltd (MHA)?
The dividend yield of Mha Ltd is 3.6% (payout 47.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mha Ltd (MHA)?
The net margin of Mha Ltd is 11.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mha Ltd (MHA)?
The return on equity (ROE) of Mha Ltd is 43.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Mha Ltd (MHA)?
On an EBIT basis the return on assets of Mha Ltd is 43.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Mha Ltd (MHA)?
The operating margin of Mha Ltd is 14.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mha Ltd (MHA)?
Revenue at Mha Ltd is growing +11.2% versus a year earlier (3y avg +40.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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Broad data
Nov 7, 2026