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James Fisher and Sons plc (FSJ) Fair Value & Analysis

Industrials · GB · Market cap 233M GBX

JF James Fisher and Sons plc FSJ · LSE
Price£4.55
Fair Value£6.42
Upside+41.1%
Quality49/100
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Weak Growth
Loss-making · -1.1% net margin
Low debt · generates free cash flow
Trails peers (2/12)
Narrow moat 27/100
Evidence: High Range £3.38 – £9.44 Share as image

Fair value as of: Jul 11, 2026

From 16 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from £8.68 to £6.42 (−26.0%) since Jun 24, 2026. Share price +4.4% over the past month.

Below-average quality, screening 41% undervalued on our models.

What matters now

  • The model range is unusually wide (£3.38 to £9.44). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

£9.77 £2.35 Fair Value £6.42 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range £2.35 – £9.77 · fair‑value band £3.38 – £9.44 · the £4.55 price screens below the £6.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

James Fisher and Sons plc (FSJ) currently trades at £4.55, while our model-based Fair Value estimate is £6.42, implying the stock looks roughly 41.1% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials 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, James Fisher and Sons plc generated revenue of £394M at a net margin of -1.1%. Revenue declined 6.3% year over year. It earns a return on equity of -2.3%. Net debt stands at £144M. Fundamentals as of Jul 11, 2026

Our scenario range runs from £3.38 (bear case) to £9.44 (bull case); at £4.55, 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 Industrials peers we cover trades at 67% fair-value upside, at 41%, FSJ screens richer 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 £5.69 £7.71 £10.10 80
Rev-Margin DCF £4.07 £5.97 £8.21 74
ROIC Compounder £1.09 £1.25 £1.38 72
All 16 models by family
DCF Models
FCF DCF £5.68 £8.04 £11.01 38
Owner Earnings £2.47 £3.56 £4.92 31
5Y Revenue Exit £4.07 £5.89 £8.13 39
5Y EBITDA Exit £8.48 £14.16 £20.79 41
10Y Revenue Exit £4.65 £6.33 £8.46 36
10Y EBITDA Exit £7.13 £11.24 £16.74 37
Earnings-Based
EPV £1.09 £1.25 £1.38 59
Dividend Discount
Gordon GGM £0.5500 £0.9200 £1.20 70
DDM Multi-Stage £0.5500 £0.8400 £0.9900 61
Multiples
EV/EBIT £4.31 £5.82 £7.34 53
EV/EBITDA £12.08 £16.19 £20.30 54
EV/Revenue £3.01 £4.40 £5.79 43
Asset-Based
NCAV (Graham) £1.85 £2.48 £3.70 50
Growth DCF
Growth DCF £5.69 £7.71 £10.10 80
Rev-Margin DCF £4.07 £5.97 £8.21 74
Economic Profit
ROIC Compounder £1.09 £1.25 £1.38 72

Widest divergence: DCF Models (£6.33) versus Dividend Discount (£0.8400). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 394M GBX
Revenue growth (YoY) -6.3%
Net margin -1.1%
Return on equity -2.3%
Free cash flow 35.8M GBX FY2025
Operating margin 5.7%
More key figures
EPS (TTM) £-0.0900
EPS growth (YoY) -86.2%
Net debt 144M GBX FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 61

Profitability 26
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 91
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

James Fisher and Sons plc operates as a marine services company in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. It operates through Energy, Defence, and Maritime Transport segments.

Full company description

James Fisher and Sons plc operates as a marine services company in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. It operates through Energy, Defence, and Maritime Transport segments. The company offers blade inspection, repair, and maintenance; digital control room and OMS services; air compressors for big bubble curtain projects; well testing equipment and services; offshore cable services, fault response, detection, and repair; control flow excavation; decommissioning and subsea asset removal services; drilling services and products; digital inspection planning and reporting; rig cooling and heat suppression systems; high voltage engineering; spares storage and management; structural monitoring and asset insight; and operations, maintenance, and balance of plant services. It also provides submarine rescue and training; military diving products and life support systems; tactical delivery vehicles, including carrier seals; submarine platforms; rebreathers and gas reclaim systems; saturation diving equipment; spares; and ANSTI test lab services. In addition, the company offers coastal shipping; ship-to-ship transfers, including tankers, fleet management, and cadet training programme services; port services, such as storage of chemicals and petroleum; and fendering and mooring solutions. Further, it provides strain gauges, measurement equipment, high voltage cable laying, hire of air compressors, steam generators, offshore wind farm construction, specialist subsea services, offshore wind control room services, engineering and design solutions, nanobubble oxygenation services, full project support for offshore and subsea operations, site preparation asset management, installation, and commissioning services; breathing machines; military diving equipment servicing; and fenders, and safety and monitoring equipment. James Fisher and Sons plc was founded in 1847 and is based in Barrow-in-Furness, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

James Fisher and Sons plc reported revenue of £394M in FY2025 versus £442M in FY2021, a compound −2.8%/yr. Reported net income was −£4.4M in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
£394M
Latest YoY
−9.9%
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.
−6.2%
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.
−5.3%
Avg. growth/yr (40Y) 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.
+5.9%
Revenue −2.8%/yr
FY21 £442M
FY22 £478M
FY23 £496M
FY24 £438M
FY25 £394M
Net income
FY21 −£27.8M
FY22 −£11.1M
FY23 −£62.4M
FY24 £46.3M
FY25 −£4.4M

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Cite: Fair Value Calculator (2026). "James Fisher and Sons plc Fair Value". https://www.fairvalue-calculator.com/stock/FSJ

Peer Group

Marine Shipping · 231 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 49 · Below median
Fair Value upside +41% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 6% · Below median
Revenue growth -6% · Below median
Debt / equity 0.38× · Higher than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/B 1.68× · Pricier than 75% of peers
P/S (TTM) 0.80× · Cheaper than median
P/FCF 8.8× · Pricier than median
EV/EBITDA 8.7× · 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 88 · sector 29
FUTURE 0 · sector 18
PAST 0 · sector 27
HEALTH 81 · sector 88
DIVIDEND 0 · sector 47

Insider activity: 45/100

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 Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,828 ₹1,041 -43%
A.P. Møller - Mærsk A/S MAERSKA kr 16,520 kr 3,033 -82%
COSCO SHIPPING Holdings 601919 ¥13.98 ¥40.37 +189%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.57 +27%
HMM Co 011200 20,050 KRW 33,855 KRW +69%
Ningbo Zhoushan Port Company 601018 ¥3.35 ¥5.58 +67%
Qingdao Port International Co 601298 ¥8.88 ¥15.97 +80%
JSW Infrastructure Limited JSWINFRA ₹330.05 ₹126.31 -62%
Wan Hai Lines Ltd 2615 80.70 TWD 212.79 TWD +164%
Wallenius Wilhelmsen ASA WAWI kr 137.70 kr 50.56 -63%

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Frequently asked questions

Is James Fisher and Sons plc (FSJ) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of £6.42 versus a price of £4.55, about +41% (undervalued).
What is the fair value of FSJ?
Our model-based fair value for James Fisher and Sons plc is £6.42 (as of Jul 11, 2026), built from audited fundamentals. The current price is £4.55.
What is the quality score of FSJ?
James Fisher and Sons plc has a Quality Score of 49/100. 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 James Fisher and Sons plc (FSJ)?
James Fisher and Sons plc reported trailing-twelve-month revenue of about £394M (latest available figure, as of Jul 11, 2026).
What is the net profit margin of FSJ?
The net profit margin of James Fisher and Sons plc is about -1.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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