Frasers Group PLC (FRAS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Frasers Group PLC stock £14.91, price £9.82, upside +51.9%, quality 44 out of 100. Rating: strongly undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range £5.46 – £9.82 · fair‑value band £11.18 – £19.65 · the £9.82 price screens below the £14.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Frasers Group Plc, together with its subsidiaries, engages in the retail and wholesale of sports and leisure clothing, footwear and equipment, and apparel through department stores, shops, and online.
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The company operates through five segments: UK Sports, Premium Lifestyle, International, Property, and Financial Services.
It is also involved in operating gyms; leasing properties for car parking, conferences, and events, as well as the provision of consumer credits; property investment and management activities; production and sale of apparel under group-owned or licensed brands; and licensing of group brands.
The company offers its products under its own and third-party brands, which include Sports Direct, House of Fraser, FLANNELS, 18montrose, Amara Living, Evans Cycles, Everlast, Everlast Gyms, Frasers, Gieves & Hawkes, I Saw It First, Jack Wills, Slazenger, Sofa.com, Studio, USA PRO, USC, Cruise, Van Mildert, and GAME. It operates in the United Kingdom, rest of Europe, the United States, Asia, and Oceania.
The company was formerly known as Sports Direct International plc and changed its name to Frasers Group Plc in December 2019. Frasers Group Plc was founded in 1982 and is based in Shirebrook, the United Kingdom. Frasers Group Plc is a subsidiary of Mash Beta Ltd.
Stock analysis
Frasers Group PLC (FRAS) currently trades at £9.82, while our model-based Fair Value estimate is £14.91, implying the stock looks roughly 34% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of £17.68 per share, and 7 of the 14 models we run sit above the £9.82 price.
Bear case: the Asset-Based group reads lowest at £3.64, and 7 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: £11.18 (bear) to £19.65 (bull), the price of £9.82 sits below 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 44/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Frasers Group PLC reported revenue of £5.3B in FY2026 versus £4.7B in FY2022, a compound +3.2%/yr. Reported net income was £375M in FY2026, compounding +10.7%/yr from FY2022.
Key figures
Market cap £4.4B Mid · P/E ratio 11.7 · P/S ratio 0.83 · EPS (TTM) £0.8367 · Net margin 7.0% · Return on equity 15.5% · Return on assets (EBIT) 9.4% (5-year average) · Operating margin 14.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 59% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −5% fair-value upside, at 52%, FRAS screens cheaper than that median.
Fair Value models
Bear£11.18Fair Value £14.91Bull£19.65
Price £9.82 · Upside +51.9%
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 6 months old). Earnings retained since then (£0.4177 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.49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+18.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.1% vs 5.1%, picking up
Profit margin 2021 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.6% → 7%
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: The main strength is the assembly of a luxury ecosystem via Flannels, Harvey Nichols and brand stakes to generate cross-brand synergies and international reach, while the main weakness is the simultaneous rise in net debt that creates balance-sheet strain.
Main risk: Higher net debt from acquisitions and strategic stakes could increase interest costs and complicate future refinancing for the group's retail operations.
Bull case: By leveraging its luxury ecosystem and operational scale Frasers could integrate acquisitions successfully and expand internationally to offset debt pressures through higher margins.
Bear case: If debt servicing costs rise sharply or competition intensifies the group might struggle to maintain its expansion strategy leading to asset sales or reduced investment in luxury brands.
Frasers is building a dedicated luxury ecosystem that pulls together its retail assets like Flannels and Harvey Nichols with strategic stakes in brands including Burberry and Hugo Boss. The approach aims to create cross-brand synergies and international reach, yet it coincides with rising net debt from the investments and acquisitions. Will the operational leverage and brand influence generate enough value to offset the balance-sheet strain?
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 Retail · 203 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Bottom 25%
Fair Value upside+51.9% · Above median
Profitability
Return on equity (12 months)15.5% · Above median
Return on assets5.8% · Above median
Net margin (12 months)7.0% · Top 25%
Operating margin (12 months)14.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)12.4% · Above median
Balance sheet
Debt / equity0.68× · Highest 25%
Valuation Multiplesvs Specialty Retail 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). "Frasers Group PLC Fair Value". https://www.fairvalue-calculator.com/stock/FRAS
Frequently asked questions
Is Frasers Group PLC (FRAS) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of £14.91 versus a price of £9.82, about +52% upside (undervalued).
What is the fair value of FRAS?
Our model-based fair value for Frasers Group PLC is £14.91 (as of Nov 3, 2026), built from audited fundamentals. The current price: £9.82.
What is the quality score of FRAS?
Frasers Group PLC has a Quality Score of 44/100. 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 Frasers Group PLC (FRAS)?
Our model-based price target is the fair value of £14.91 (as of Nov 3, 2026) from 14 valuation models. Cautious scenario £11.18, optimistic scenario £19.65. It is a calculation from audited fundamentals, not an analyst target.
What is the Frasers Group PLC stock forecast for 2026?
Our models put fair value at £14.91, about +52% upside versus a price of £9.82 (undervalued). Cautious scenario £11.18, optimistic scenario £19.65. The calculation is refreshed regularly with new filings.
What is the revenue of Frasers Group PLC (FRAS)?
Frasers Group PLC reported trailing-twelve-month revenue of about £5.3B (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Frasers Group PLC (FRAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Frasers Group PLC it is £14.91 per share (as of Nov 3, 2026), against a price of £9.82. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Frasers Group PLC stock overvalued or undervalued in 2026?
As of Nov 3, 2026, FRAS trades below its calculated fair value: price £9.82, fair value £14.91, a gap of about +52% (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 FRAS?
No. The price is what the market pays today (£9.82); the fair value is what the company's own numbers justify (£14.91). For Frasers Group PLC the two are £5.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Frasers Group PLC worth?
The market values Frasers Group PLC at about £4.4B (market capitalisation, as of Nov 3, 2026). Per share that is £9.82; our models calculate a fair value of £14.91 per share.
What do the bullish and bearish scenarios say about FRAS?
Our models span a range for Frasers Group PLC: cautious scenario £11.18, base £14.91, optimistic £19.65 per share (as of Nov 3, 2026, price £9.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FRAS?
Frasers Group PLC trades at a price-to-earnings ratio of 11.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £14.91 is built from several models across several years. Other multiples: PEG 0.8, P/B 1.8, P/S 0.8, EV/EBITDA 6.8.
What is the PEG ratio of FRAS?
The PEG ratio of Frasers Group PLC is 0.83 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Frasers Group PLC (FRAS)?
Balance-sheet figures for Frasers Group PLC (as of Nov 3, 2026): return on equity 15.5%, debt of 0.68 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is FRAS from its 52-week high?
Frasers Group PLC trades at £9.82, at its 52-week high of £9.82 and 59% above the low of £6.19 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £14.91 is for.
Which stocks are comparable to Frasers Group PLC?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, Casey's General Stores, 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 Frasers Group PLC stock attractive at the current price?
The data as of Nov 3, 2026: price £9.82, calculated fair value £14.91 (+52%), Quality Score 44/100, from 14 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 FRAS calculated?
We run Frasers Group PLC through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of £14.91 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 13.3% above its aggregate fair value. Frasers Group PLC currently trades 34% 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 Frasers Group PLC (FRAS)?
The closing price on Nov 6, 2026 was £9.82. Our model-based fair value is £14.91, about +52% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Frasers Group PLC right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (£11.18). The market is more pessimistic than our downside scenario.
Where does the earnings growth of Frasers Group PLC (FRAS) come from?
Earnings per share at Frasers Group PLC grew +4.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.3 %, EBIT margin +2.2 %, tax rate −0.8 %, residual (interest, one-offs) −3.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Frasers Group PLC
How large is the market capitalisation of Frasers Group PLC (FRAS)?
The market capitalisation of Frasers Group PLC is £4.4B. 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 Frasers Group PLC (FRAS)?
The price-to-sales ratio of Frasers Group PLC is 0.83 (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 Frasers Group PLC (FRAS)?
Earnings per share at Frasers Group PLC are £0.8367 (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Frasers Group PLC (FRAS)?
The net margin of Frasers Group PLC is 7.0% (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 Frasers Group PLC (FRAS)?
The return on equity (ROE) of Frasers Group PLC is 15.5% (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 Frasers Group PLC (FRAS)?
On an EBIT basis the return on assets of Frasers Group PLC is 9.4% (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 Frasers Group PLC (FRAS)?
The operating margin of Frasers Group PLC is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Frasers Group PLC (FRAS)?
Revenue at Frasers Group PLC is growing +12.4% versus a year earlier (3y avg −1.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Frasers Group PLC (FRAS)?
Earnings per share at Frasers Group PLC are growing −67.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Frasers Group PLC (FRAS) generate?
The free cash flow of Frasers Group PLC is −£165M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Frasers Group PLC (FRAS) carry?
The net debt of Frasers Group PLC is £2.1B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 3, 2026