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Anpario plc (ANP) Fair Value & Analysis

Consumer Defensive · GB · Market cap 90.0M GBX

AP Anpario plc ANP · LSE
Price£5.50
Fair Value£8.16
Upside+48.4%
Quality80/100
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Healthy Growth
Solidly profitable · 14.3% net margin
Low debt · generates free cash flow
2.29% dividend yield
Ranks above peers (9/14)
Wide moat 65/100
Evidence: High Range £4.82 – £10.01 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from £8.06 to £8.16 (+1.2%) since Jul 14, 2026. Share price −2.8% over the past month.

A strong business, screening 48% undervalued on our models.

What matters now

  • The rarer combination: high quality (80/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (£4.82 to £10.01) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

£6.59 £1.69 Fair Value £8.16 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range £1.69 – £6.59 · fair‑value band £4.82 – £10.01 · the £5.50 price screens below the £8.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Anpario plc (ANP) currently trades at £5.50, while our model-based Fair Value estimate is £8.16, implying the stock looks roughly 48.4% undervalued today. The Quality Score stands at 80/100 (high quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Anpario plc generated revenue of £47.2M at a net margin of 14.3%. Revenue grew 15.3% year over year. It earns a return on equity of 17.5%. The balance sheet holds a net cash position of £12.2M. Fundamentals as of Jul 19, 2026

Our scenario range runs from £4.82 (bear case) to £10.01 (bull case); at £5.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 48%, ANP screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF £4.18 £6.56 £10.29 80
Residual Income £2.33 £2.86 £5.96 76
Rev-Margin DCF £4.00 £6.74 £10.70 74
All 26 models by family
DCF Models
FCF DCF £4.35 £6.30 £10.93 38
Owner Earnings £5.77 £10.23 £17.74 31
5Y Revenue Exit £4.00 £6.63 £10.97 39
5Y EBITDA Exit £5.37 £9.65 £16.33 41
5Y P/E Exit £5.92 £11.28 £18.03 38
10Y Revenue Exit £3.98 £6.61 £10.22 36
10Y EBITDA Exit £4.88 £8.72 £15.44 37
10Y P/E Exit £5.21 £9.58 £16.80 35
Earnings-Based
Graham-Dodd £2.81 £18.35 £25.68 54
Lynch FV £5.34 £7.63 £9.92 50
PEG = 1.0 £5.34 £7.63 £9.92 46
EPV £3.67 £4.01 £4.30 59
Dividend Discount
Gordon GGM £0.8800 £1.47 £1.90 70
DDM Multi-Stage £0.8800 £1.39 £1.58 61
Multiples
P/E Multiple £6.50 £8.67 £10.83 63
P/S Multiple £3.46 £4.61 £5.77 58
P/B Multiple £5.26 £7.02 £8.77 55
EV/EBIT £6.91 £8.96 £11.01 53
EV/EBITDA £6.32 £8.17 £10.02 54
EV/Revenue £3.79 £5.08 £6.38 43
Asset-Based
NCAV (Graham) £1.25 £1.68 £2.50 50
Growth DCF
Growth DCF £4.18 £6.56 £10.29 80
Rev-Margin DCF £4.00 £6.74 £10.70 74
Economic Profit
Residual Income £2.33 £2.86 £5.96 76
ROIC Compounder £4.10 £5.10 £6.34 72
Growth Earnings
Growth-Adj P/E £7.49 £10.70 £13.91 68

Widest divergence: Growth Earnings (£10.70) versus Dividend Discount (£1.39). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 47.2M GBX
Revenue growth (YoY) +15.3%
Net margin 14.3%
Return on equity 17.5%
Free cash flow 5.5M GBX FY2025
P/E ratio 14.5
More key figures
Operating margin 18.7%
EPS (TTM) £0.3800
Dividend yield 2.3%
EPS growth (YoY) +57.8%
Net cash 12.2M GBX FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 80/100

Of which business quality 78 · Market factors (momentum, volatility) 58

Profitability 71
Margins and returns on capital today
Quality Growth 93
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 62
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Anpario plc, together with its subsidiaries, manufactures and distributes natural animal feed additives for animal health, nutrition, and biosecurity.

Full company description

Anpario plc, together with its subsidiaries, manufactures and distributes natural animal feed additives for animal health, nutrition, and biosecurity. Its health and performance category offers various products that support and maintain animal gut health, including phytogenic and acid based eubiotics, and omega fatty acids under the Orego-Stim, Optomega, pHorce, Salkil, and Genex brands; and feed quality category provides products, such as enzymes, antioxidants, pellet binders, mould inhibitors, and acid based eubiotics under the pHorce, Feedzyme, Salgard, Oxigard, Moldgard, and Mastercube brands. The company's hygiene and insect control category contain products comprising water sanitation tablets, 100% natural insect control powders, and natural drying agents that minimizes the environmental microbial burden, supports the gut health, and animal performance under the Credence, Mitex, and Clean & Dry brands; and toxin management category products consisting of mycotoxin binders under the Anpro brand. It has operations in the Americas, Asia, Europe, the Middle East, and Africa. The company was formerly known as Kiotech International plc and changed its name to Anpario plc in November 2011. Anpario plc was founded in 1996 and is headquartered in Worksop, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Anpario plc reported revenue of £47.2M in FY2025 versus £33.4M in FY2021, a compound +9.0%/yr. Reported net income was £6.8M in FY2025, compounding +9.6%/yr from FY2021.

Growth Quality 89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
£47.2M
Latest YoY
+23.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.1%
Avg. growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+24.0%
Revenue +9.0%/yr
FY21 £33.4M
FY22 £33.1M
FY23 £31.0M
FY24 £38.2M
FY25 £47.2M
Net income +9.6%/yr
FY21 £4.7M
FY22 £3.3M
FY23 £2.5M
FY24 £4.1M
FY25 £6.8M
Character of growth · EPS growth decomposed (2014-2025) +5.5 % p.a.
Revenue per share +7.2 pp

of which total revenue +5.6 pp · buybacks/dilution +1.6 pp

EBIT margin −1.0 pp
Tax rate −1.3 pp
Residual (interest, one-offs) +0.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Anpario plc Fair Value". https://www.fairvalue-calculator.com/stock/ANP

Peer Group

Packaged Foods · 649 stocks

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.

Quality Score 80 · Top 25%
Fair Value upside +48% · Top 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 15% · Top 25%
Dividend yield (TTM) 2.3% · Below median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 14.5× · Cheaper than median
P/B 2.96× · Pricier than 75% of peers
P/S (TTM) 2.57× · Pricier than 75% of peers
P/FCF 22.3× · Pricier than 75% of peers
EV/EBITDA 11.9× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 98 · sector 28
FUTURE 77 · sector 20
PAST 70 · sector 27
HEALTH 100 · sector 96
DIVIDEND 46 · sector 47

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Anpario plc (ANP) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of £8.16 versus a price of £5.50, about +48% (undervalued).
What is the fair value of ANP?
Our model-based fair value for Anpario plc is £8.16 (as of Jul 19, 2026), built from audited fundamentals. The current price is £5.50.
What is the quality score of ANP?
Anpario plc has a Quality Score of 80/100. 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 revenue of Anpario plc (ANP)?
Anpario plc reported trailing-twelve-month revenue of about £47.2M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ANP?
The net profit margin of Anpario plc is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Anpario plc pay a dividend?
Anpario plc currently shows a dividend yield of about 2.23% relative to its recent price (as of Jul 19, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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