Fuller Smith & Turner (FSTA) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Fuller Smith & Turner £7.60, price £6.90, upside +10.1%, quality 58 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range £3.96 – £7.62 · fair‑value band £4.82 – £10.61 · the £6.90 price screens below the £7.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom. It operates through Managed Pubs and Hotels, and Tenanted Inns segments. The company also operates pubs operated by third parties under tenancy or lease agreements; Bel & The Dragon, Cotswold Inns & Hotels, and Lovely Pubs; and managed houses services.
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Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom. It operates through Managed Pubs and Hotels, and Tenanted Inns segments. The company also operates pubs operated by third parties under tenancy or lease agreements; Bel & The Dragon, Cotswold Inns & Hotels, and Lovely Pubs; and managed houses services. Fuller, Smith & Turner P.L.C. was founded in 1845 and is based in London, the United Kingdom.
Stock analysis
Fuller Smith & Turner (FSTA) currently trades at £6.90, while our model-based Fair Value estimate is £7.60, implying the stock looks roughly 9.2% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of £13.59 per share, and 19 of the 24 models we run sit above the £6.90 price.
Bear case: the Earnings-Based group reads lowest at £5.78, and 5 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: £4.82 (bear) to £10.61 (bull), the price of £6.90 sits inside 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 58/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Fuller Smith & Turner reported revenue of £398M in FY2026 versus £254M in FY2022, a compound +11.9%/yr. Reported net income was £21.2M in FY2026, compounding +31.5%/yr from FY2022.
Key figures
Market cap 379M GBX · P/E ratio 18.7 · P/S ratio 1.00 · EPS (TTM) £0.3900 · Dividend yield 3.1% · Net margin 5.3% · Return on equity 5.2% · Return on assets (EBIT) 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −22% fair-value upside, at 10%, FSTA screens cheaper than that median.
Fair Value models
Bear £4.82Fair Value £7.60Bull £10.61
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (£0.0868 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.Evidence ⓘEvidence = 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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.7%
Revenue growth 40 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.9%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+42.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.5%
Dividend (yield on the price)3.1%
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.27% vs −4%, 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.−62% → 12%
2026 sits 157% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +6.2% a year for the price and +0.9% for the forecasts.
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.Restaurants · 226 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+9% · Above median
Profitability
Return on equity (TTM)5% · Below median
Return on assets4% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth4% · Above median
Dividend yield (TTM)3.1% · Below median
Balance sheet
Debt / equity0.36× · Above median
Valuation Multiplesvs Restaurants median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Fuller Smith & Turner Fair Value". https://www.fairvalue-calculator.com/stock/FSTA
Frequently asked questions
Is Fuller Smith & Turner (FSTA) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of £7.60 versus a price of £6.90, about +10% upside (undervalued).
What is the fair value of FSTA?
Our model-based fair value for Fuller Smith & Turner is £7.60 (as of Sep 23, 2026), built from audited fundamentals. The current price: £6.90.
What is the quality score of FSTA?
Fuller Smith & Turner has a Quality Score of 58/100. 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 Fuller Smith & Turner (FSTA)?
Our model-based price target is the fair value of £7.60 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario £4.82, optimistic scenario £10.61. It is a calculation from audited fundamentals, not an analyst target.
What is the Fuller Smith & Turner stock forecast for 2026?
Our models put fair value at £7.60, about +10% upside versus a price of £6.90 (undervalued). Cautious scenario £4.82, optimistic scenario £10.61. The calculation is refreshed regularly with new filings.
What is the revenue of Fuller Smith & Turner (FSTA)?
Fuller Smith & Turner reported trailing-twelve-month revenue of about £398M (latest available figure, as of Sep 23, 2026).
Does Fuller Smith & Turner pay a dividend?
Fuller Smith & Turner currently shows a dividend yield of about 3.07% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Fuller Smith & Turner (FSTA)?
For today's price to be fair in a discounted-cash-flow model, Fuller Smith & Turner would have to grow free cash flow by +8.7 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +40.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FSTA use?
Our models discount Fuller Smith & Turner at 11.1 %: a base by market capitalisation (small), damped by beta 0.77, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Fuller Smith & Turner that is +8.7 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has Fuller Smith & Turner (FSTA) delivered so far?
Over the past 5 years revenue at Fuller Smith & Turner grew +40.3 % a year. The price currently implies +8.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Fuller Smith & Turner (FSTA) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Fuller Smith & Turner (+8.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Fuller Smith & Turner (FSTA)?
The free-cash-flow yield on the price is 8.55 %: that much free cash flow Fuller Smith & Turner produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fuller Smith & Turner (FSTA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fuller Smith & Turner it is £7.60 per share (as of Sep 23, 2026), against a price of £6.90. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Fuller Smith & Turner stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FSTA trades below its calculated fair value: price £6.90, fair value £7.60, a gap of about +10% (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 FSTA?
No. The price is what the market pays today (£6.90); the fair value is what the company's own numbers justify (£7.60). For Fuller Smith & Turner the two are £0.7000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Fuller Smith & Turner worth?
The market values Fuller Smith & Turner at about 379M GBX (market capitalisation, as of Sep 23, 2026). Per share that is £6.90; our models calculate a fair value of £7.60 per share.
What do the bullish and bearish scenarios say about FSTA?
Our models span a range for Fuller Smith & Turner: cautious scenario £4.82, base £7.60, optimistic £10.61 per share (as of Sep 23, 2026, price £6.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FSTA?
Fuller Smith & Turner trades at a price-to-earnings ratio of 18.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £7.60 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 14.9 (reported 17.4). Other multiples: P/B 1.2, P/S 1.3, EV/EBITDA 9.4.
How solid is the balance sheet of Fuller Smith & Turner (FSTA)?
Balance-sheet figures for Fuller Smith & Turner (as of Sep 23, 2026): return on equity 5.2%, debt of 0.36 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is FSTA from its 52-week high?
Fuller Smith & Turner trades at £6.90, about 9% below its 52-week high of £7.60 and 28% above the low of £5.39 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £7.60 is for.
Which stocks are comparable to Fuller Smith & Turner?
From the same area (Consumer Cyclical) we also value McDonald's Corporation, Starbucks Corporation, Chipotle Mexican Grill, Inc, Yum! Brands, 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 Fuller Smith & Turner stock attractive at the current price?
The data as of Sep 23, 2026: price £6.90, calculated fair value £7.60 (+10%), Quality Score 58/100, from 24 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 FSTA calculated?
We run Fuller Smith & Turner through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of £7.60, 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 13.0 % above its aggregate fair value. Fuller Smith & Turner currently trades 10 % 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 Fuller Smith & Turner (FSTA)?
The closing price on Sep 24, 2026 was £6.90. Our model-based fair value is £7.60, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fuller Smith & Turner right now?
A fairly wide model range (£4.82 to £10.61) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Fuller Smith & Turner (FSTA) come from?
Earnings per share at Fuller Smith & Turner grew −5.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +0.4 %, EBIT margin −3.9 %, tax rate −1.1 %, residual (interest, one-offs) −1.1 %. 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 Fuller Smith & Turner
How large is the market capitalisation of Fuller Smith & Turner (FSTA)?
The market capitalisation of Fuller Smith & Turner is 379M GBX. 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 Fuller Smith & Turner (FSTA)?
The price-to-sales ratio of Fuller Smith & Turner is 1.00 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Fuller Smith & Turner (FSTA)?
Earnings per share at Fuller Smith & Turner are £0.3900 (price ÷ EPS = P/E 18.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Fuller Smith & Turner (FSTA)?
The dividend yield of Fuller Smith & Turner is 3.1% (payout 54.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Fuller Smith & Turner (FSTA)?
The net margin of Fuller Smith & Turner is 5.3% (fiscal year 2026). 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 Fuller Smith & Turner (FSTA)?
The return on equity (ROE) of Fuller Smith & Turner is 5.2% (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 Fuller Smith & Turner (FSTA)?
On an EBIT basis the return on assets of Fuller Smith & Turner is 3.9% (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 Fuller Smith & Turner (FSTA)?
The operating margin of Fuller Smith & Turner is 9.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fuller Smith & Turner (FSTA)?
Revenue at Fuller Smith & Turner is growing +4.4% versus a year earlier (3y avg +5.7%). 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 Fuller Smith & Turner (FSTA)?
Earnings per share at Fuller Smith & Turner are growing +16.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fuller Smith & Turner (FSTA) carry?
The net debt of Fuller Smith & Turner is 202M GBX (fiscal year 2026, ≈ 6.2 yrs of FCF). 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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