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Dr. Martens plc (DOCS) Fair Value & Analysis

Consumer Cyclical · GB · Market cap 700M GBX

DM Dr. Martens plc DOCS · LSE
Price£0.6930
Fair Value£0.7400
Upside+6.8%
Quality97/100
Evidence: High Range £0.4500 – £1.03

Fair value as of: Jun 24, 2026

From 26 valuation models · updated 5 days ago

Share price −4.7% over the past month.

Price vs Fair Value (12 months)

£0.9641 £0.5967 Fair Value £0.7400 Jun 2025 Jun 2026

12‑month range £0.5967 – £0.9641 · fair‑value band £0.4500 – £1.03 · the £0.6930 price screens below the £0.7400 fair value. As of Jun 24, 2026.

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Analysis

Dr. Martens plc (DOCS) currently trades at £0.6930, while our model-based Fair Value estimate is £0.7400 — implying the stock looks roughly 6.8% undervalued today. We read business quality at 97/100 (high 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, Dr. Martens plc generated revenue of £765M at a net margin of 3.1%. Revenue declined 4.3% year over year. It earns a return on equity of 6.5%. Net debt stands at £211M. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 765M GBX
Revenue growth (YoY) -4.3%
Net margin 3.1%
Return on equity 6.5%
Free cash flow 116M GBX FY2026
P/E ratio 36.6
More key figures
Operating margin 15.7%
EPS (TTM) £0.0200
Dividend yield 3.6%
EPS growth (YoY) +36.5%
Net debt 211M GBX FY2026

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Dr. Martens plc engages in the design, development, procurement, marketing, sale, and distribution of footwear. The company sells its footwear under the Dr. Martens brand name in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. Dr. Martens plc was founded in 1945 and is based in London, the United Kingdom.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Dr. Martens plc reported revenue of £765M in FY2026 versus £908M in FY2022, a compound −4.2%/yr. Reported net income was £23.8M in FY2026, compounding −39.8%/yr from FY2022.

Revenue −4.2%/yr
FY22 £908M
FY23 £1.0B
FY24 £877M
FY25 £788M
FY26 £765M
Net income −39.8%/yr
FY22 £181M
FY23 £129M
FY24 £69.2M
FY25 £4.5M
FY26 £23.8M

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Similar stocks

6 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE €38.41 €31.09 -19%
adidas AG ADDYY $99.10 $61.24 -38%
ASICS Corporation ASCCY $27.42 $22.91 -16%
Deckers Outdoor Corporation DECK $105.57 $172.88 +64%
On Holding ONON $36.21 $20.28 -44%
Zhejiang China Commodities City Group 600415 ¥10.63 ¥26.58 +150%

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Frequently asked questions

Is Dr. Martens plc (DOCS) undervalued?
As of Jun 24, 2026, our model estimates a fair value of £0.7400 versus a price of £0.6930 — about +7% (undervalued). Model-based estimate, not financial advice.
What is the fair value of DOCS?
Our 21-model fair value for Dr. Martens plc is £0.7400 (as of Jun 24, 2026), built from audited fundamentals. The current price is £0.6930.
What is the quality score of DOCS?
Dr. Martens plc has a Quality Score of 97/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Dr. Martens plc (DOCS)?
Dr. Martens plc reported trailing-twelve-month revenue of about £765M (latest available figure, as of Jun 24, 2026).
What is the net profit margin of DOCS?
The net profit margin of Dr. Martens plc is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.
Does Dr. Martens plc pay a dividend?
Dr. Martens plc currently shows a dividend yield of about 3.60% relative to its recent price (as of Jun 24, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.