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Currys plc (CURY) Fair Value & Analysis

Consumer Cyclical · GB · Market cap 1.7B GBX

CP Currys plc CURY · LSE
Price£1.60
Fair Value£1.78
Upside+11.4%
Quality56/100
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Weak Growth
Thin margins · 1.8% net margin
Low debt · generates free cash flow
1.89% dividend yield
Ranks above peers (10/15)
Narrow moat 32/100
Evidence: High Range £1.23 – £2.34 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from £2.29 to £1.78 (−22.2%) since Jun 24, 2026. Share price +3.8% over the past month.

A solid business, screening 11% undervalued on our models.

What matters now

  • A fairly wide model range (£1.23 to £2.34) leaves room in how you read the outcome.
  • Our model range runs from £1.23 (bear) to £2.34 (bull), base £1.78. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 56/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

£1.66 £0.4227 Fair Value £1.78 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range £0.4227 – £1.66 · fair‑value band £1.23 – £2.34 · the £1.60 price screens below the £1.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Currys plc (CURY) currently trades at £1.60, while our model-based Fair Value estimate is £1.78, implying the stock looks roughly 11.4% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical 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, Currys plc generated revenue of £9.0B at a net margin of 1.5%. Revenue grew 8.0% year over year. It earns a return on equity of 6.2%. Net debt stands at £776M. Fundamentals as of Jul 12, 2026

Our scenario range runs from £1.23 (bear case) to £2.34 (bull case); at £1.60, 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 Cyclical peers we cover trades at -24% fair-value upside, at 11%, CURY 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 BearBaseBull Evidence
Highest evidence
Growth DCF £3.60 £6.11 £10.04 80
Residual Income £1.76 £1.81 £1.78 76
Rev-Margin DCF £3.03 £5.06 £9.31 74
All 24 models by family
DCF Models
FCF DCF £3.84 £5.52 £10.56 38
Owner Earnings £4.85 £9.86 £19.16 31
5Y Revenue Exit £2.78 £4.44 £7.90 39
5Y EBITDA Exit £4.43 £7.78 £14.35 41
5Y P/E Exit £3.16 £6.43 £10.81 38
10Y Revenue Exit £3.08 £5.94 £7.59 36
10Y EBITDA Exit £4.25 £9.19 £17.78 37
10Y P/E Exit £3.41 £6.70 £11.93 35
Earnings-Based
Graham-Dodd £1.08 £7.55 £10.60 54
Lynch FV £3.90 £5.58 £7.25 50
PEG = 1.0 £3.90 £5.58 £7.25 46
EPV £1.70 £1.91 £2.08 59
Multiples
P/E Multiple £2.63 £3.50 £4.38 63
P/S Multiple £2.03 £2.71 £3.39 58
P/B Multiple £2.03 £2.71 £3.39 55
EV/EBIT £3.04 £3.99 £4.95 53
EV/EBITDA £4.64 £6.13 £7.61 54
EV/Revenue £2.10 £2.93 £3.76 43
Asset-Based
NCAV (Graham) £1.16 £1.56 £2.32 50
Growth DCF
Growth DCF £3.60 £6.11 £10.04 80
Rev-Margin DCF £3.03 £5.06 £9.31 74
Economic Profit
Residual Income £1.76 £1.81 £1.78 76
ROIC Compounder £1.70 £1.91 £2.08 72
Growth Earnings
Growth-Adj P/E £5.18 £7.40 £9.62 68

Widest divergence: Growth Earnings (£7.40) versus Asset-Based (£1.56). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 9.3B GBX
Revenue growth (YoY) +4.9%
Net margin 1.8%
Return on equity 7.1%
Free cash flow 279M GBX FY2026
P/E ratio 10.7
More key figures
Operating margin 4.1%
EPS (TTM) £0.1500
Dividend yield 1.9%
EPS growth (YoY) +28.2%
Net debt 776M GBX FY2026

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 68

Profitability 39
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 75
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

Currys plc operates as a omnichannel retailer of technology products and services in the United Kingdom, Ireland, Norway, Sweden, Finland, Denmark, Iceland, Greenland, and the Faroe Islands.

Full company description

Currys plc operates as a omnichannel retailer of technology products and services in the United Kingdom, Ireland, Norway, Sweden, Finland, Denmark, Iceland, Greenland, and the Faroe Islands. The company offers consumer electronics and mobile technology products and services; iD Mobile, a mobile virtual network operator solution; and provides repair and insurance services. It sells its products through franchise and own stores operated under Currys and Elkjøp brand names, as well as through online channels. The company was formerly known as Dixons Carphone plc and changed its name to Currys plc in September 2021. Currys plc was founded in 1884 and is based in London, the United Kingdom.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Currys plc reported revenue of £9.3B in FY2026 versus £10.1B in FY2022, a compound −2.3%/yr. Reported net income was £165M in FY2026, compounding +23.5%/yr from FY2022.

Growth Quality 39/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
£9.3B
Latest YoY
+6.3%
Avg. growth/yr (3Y)
−0.9%
Avg. growth/yr (5Y)
−2.2%
Avg. growth/yr (21Y)
+6.7%
Revenue −2.3%/yr
FY22 £10.1B
FY23 £9.5B
FY24 £8.5B
FY25 £8.7B
FY26 £9.3B
Net income +23.5%/yr
FY22 £71.0M
FY23 −£481M
FY24 £165M
FY25 £108M
FY26 £165M

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

Peer Group

Specialty Retail · 221 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 56 · Below median
Fair Value upside +11% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 1.9% · Below median

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 10.7× · Cheaper than 75% of peers
P/B 0.93× · Cheaper than median
P/S (TTM) 0.24× · Cheaper than median
P/FCF 8.0× · Pricier than median
EV/EBITDA 5.5× · Cheaper than median
PEG 1.01× · Cheaper 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 49 · sector 31
FUTURE 25 · sector 23
PAST 28 · sector 27
HEALTH 100 · sector 94
DIVIDEND 38 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Currys plc (CURY) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of £1.78 versus a price of £1.60, about +11% (undervalued).
What is the fair value of CURY?
Our model-based fair value for Currys plc is £1.78 (as of Jul 12, 2026), built from audited fundamentals. The current price is £1.60.
What is the quality score of CURY?
Currys plc has a Quality Score of 56/100. 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 Currys plc (CURY)?
Currys plc reported trailing-twelve-month revenue of about £9.0B (latest available figure, as of Jul 12, 2026).
What is the net profit margin of CURY?
The net profit margin of Currys plc is about 1.5%, meaning it keeps roughly 1.5% of revenue as net income. Based on the latest reported figures.
Does Currys plc pay a dividend?
Currys plc currently shows a dividend yield of about 1.53% relative to its recent price (as of Jul 12, 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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