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Hill & Smith PLC (HSHPF) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Hill & Smith PLC $23.86, price $39.78, upside -40.0%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Industrials · US · ISIN GB0004270301

HS Hill & Smith PLC logo Broad data Sep 24, 2026

Hill & Smith PLC

HSHPF · US

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value $23.86 · Strongly overvalued (−40.0%)
✓Quality 74/100
!Mixed Growth (revenue 5y +5.6 %/yr)
!Thin margins · 9.5% net margin (TTM)
✓Low debt · generates free cash flow
✓1.3% dividend yield · Well covered
!Moderate moat 62/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$39.78 $8.40 Fair Value $23.86 Jul 2015 Sep 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

60‑month range $8.40 – $39.78 · fair‑value band $17.24 – $29.82 · the $39.78 price screens above the $23.86 fair value. As of Sep 24, 2026.

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Company profile

Hill & Smith PLC manufactures and supplies infrastructure products in the United Kingdom, the rest of Europe, North America, the Middle East, the rest of Asia, and internationally. It operates through US Engineered Solutions, UK & India Engineered Solutions, and Galvanizing Services segments.

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Hill & Smith PLC manufactures and supplies infrastructure products in the United Kingdom, the rest of Europe, North America, the Middle East, the rest of Asia, and internationally. It operates through US Engineered Solutions, UK & India Engineered Solutions, and Galvanizing Services segments. The US Engineered Solutions segment provides composite and steel solutions for infrastructure construction, such as energy transmission and distribution, data centres, waterfront protection, transportation, and other industrial facilities, engineered support for water, power, and liquid natural gas markets, seismic protection solutions for road work zone safety products, and off-grid solar lighting and power solutions. The UK & India Engineered Solutions segment offers hostile vehicle mitigation and off-grid solar lighting solutions for energy markets. The Galvanizing Services segment offers hot-dip galvanizing and powder coating services, increasing the sustainability and maintenance-free life of steel products, such as structural steelwork, lighting, bridges, and other products for infrastructure and construction end markets. It also offers fiber reinforced polymer composite solutions; electrical transmission and distribution substation structures; temporary and permanent road safety barriers, vehicle restraint systems, security solutions, bridge parapets, and retained earth systems; engineered pipe support and ancillary; lighting columns and traffic safety; vibration and seismic control; and hostile vehicle mitigation perimeter security; solar light towers, message signs, and other construction equipment; perimeter security solutions; galvanized lintels, construction fittings, composite doors, builders' metalwork, and plasterers' accessories; and open steel flooring, and handrailing. It was formerly known as Hill & Smith Holdings PLC and changed its name to Hill & Smith PLC in November 2022. The company was founded in 1824 and is based in Solihull, the United Kingdom.

Stock analysis

Hill & Smith PLC (HSHPF) currently trades at $39.78, while our model-based Fair Value estimate is $23.86, 40.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $26.03 per share, and 0 of the 24 models we run sit above the $39.78 price.

Bear case: the Asset-Based group reads lowest at $5.38, and 24 of the 24 models stay below the price. Evidence for this calculation is high.

Scenario range: $17.24 (bear) to $29.82 (bull), the price of $39.78 sits above 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 74/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Hill & Smith PLC reported revenue of £869M in FY2025 versus £625M in FY2021, a compound +8.6%/yr. Reported net income was £82.5M in FY2025, compounding +24.6%/yr from FY2021.

Key figures

Market cap $3.2B · P/E ratio 29.3 · P/S ratio 2.78 · EPS (TTM) $1.36 · Dividend yield 1.3% · Net margin 9.5% · Return on equity 17.4% · Return on assets (EBIT) 13.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).

What moves the price

For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −40%, HSHPF screens richer than that median.

Fair Value models

Bear $17.24 Fair Value $23.86 Bull $29.82
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 2025 figures (about 9 months old). Earnings retained since then ($0.6276 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. 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.
Highest evidence
FCF DCF $19.78 $28.79 $41.49 80
Growth DCF $20.18 $28.31 $39.19 79
Owner Earnings $17.89 $26.03 $37.50 76
All 24 models by family
DCF Models
FCF DCF $19.78 $28.79 $41.49 80
Owner Earnings $17.89 $26.03 $37.50 76
5Y Revenue Exit $16.65 $24.88 $35.06 73
5Y EBITDA Exit $18.94 $29.03 $40.44 75
5Y P/E Exit $17.35 $26.15 $35.05 71
10Y Revenue Exit $17.23 $24.78 $34.31 67
10Y EBITDA Exit $19.07 $27.56 $38.22 69
10Y P/E Exit $18.09 $25.63 $34.30 64
Earnings-Based
Graham-Dodd $9.49 $25.46 $33.32 65
Lynch FV $4.96 $7.09 $9.21 61
PEG = 1.0 $4.96 $7.09 $9.21 57
EPV $16.67 $19.26 $21.49 74
Multiples
P/E Multiple $17.79 $23.72 $29.65 63
P/S Multiple $16.53 $22.04 $27.55 58
P/B Multiple $17.79 $23.72 $29.65 55
EV/EBIT $21.59 $28.70 $35.81 66
EV/EBITDA $20.91 $27.79 $34.68 67
EV/Revenue $15.69 $22.30 $28.91 53
Asset-Based
NCAV (Graham) $4.02 $5.38 $8.03 54
Growth DCF
Growth DCF $20.18 $28.31 $39.19 79
Rev-Margin DCF $16.65 $25.07 $34.44 73
Economic Profit
Residual Income $8.66 $10.81 $15.61 75
ROIC Compounder $17.52 $21.42 $25.66 72
Growth Earnings
Growth-Adj P/E $14.29 $20.42 $26.54 67

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Quality Score breakdown

Overall quality 74/100

Of which business quality 72 · Market factors (momentum, volatility) 76

Profitability 70
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 87
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.6%
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.
+5.9%
Revenue growth 5 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.
+5.6%
Start year 2020 (pandemic). Over 10 years: +6.4% a year
Revenue growth 11 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.
+6.1%
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.
+24.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.2%
Dividend (yield on the price)1.3%
Profit margin 2020 to 2025 ⓘ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.10% → 14%

Growth Forecast

A lot of optimism in the price
The price assumes more 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).
+14.3%
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.
+3.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in GBP, UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +11.7% a year for the price and +1.6% for the forecasts.
Forecast 2026 (sales)+4.4%
Forecast 2027 (sales)+4.2%
Projected 2028 (sales)+4.0%
Projected 2029 (sales)+3.7%
Projected 2030 (sales)+3.4%

HSHPF screens overvalued: fair value 40% below the price. Compare with Quanta Services, Inc →

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Context: sector, industry, market

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

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Cite: Fair Value Calculator (2026). "Hill & Smith PLC Fair Value". https://www.fairvalue-calculator.com/stock/HSHPF

Frequently asked questions

Is Hill & Smith PLC (HSHPF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $23.86 versus the last price from Sep 25, 2026 of $39.78, about −40% upside (overvalued).
What is the fair value of HSHPF?
Our model-based fair value for Hill & Smith PLC is $23.86 (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 25, 2026): $39.78.
What is the quality score of HSHPF?
Hill & Smith PLC has a Quality Score of 74/100. 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 Hill & Smith PLC (HSHPF)?
Our model-based price target is the fair value of $23.86 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $17.24, optimistic scenario $29.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Hill & Smith PLC stock forecast for 2026?
Our models put fair value at $23.86, about −40% upside versus the last price from Sep 25, 2026 of $39.78 (overvalued). Cautious scenario $17.24, optimistic scenario $29.82. The calculation is refreshed regularly with new filings.
What is the revenue of Hill & Smith PLC (HSHPF)?
Hill & Smith PLC reported trailing-twelve-month revenue of about £869M (latest available figure, as of Sep 24, 2026).
Does Hill & Smith PLC pay a dividend?
Hill & Smith PLC currently shows a dividend yield of about 1.33% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hill & Smith PLC (HSHPF)?
For today's price to be fair in a discounted-cash-flow model, Hill & Smith PLC would have to grow free cash flow by +14.3 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of HSHPF use?
Our models discount Hill & Smith PLC at 10.5 %: a base by market capitalisation (mid), damped by beta 1.29, country premium for USA. 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 Hill & Smith PLC that is +14.3 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Hill & Smith PLC (HSHPF) delivered so far?
Over the past 5 years revenue at Hill & Smith PLC grew +5.6 % a year. The price currently implies +14.3 % 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 Hill & Smith PLC (HSHPF) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Hill & Smith PLC (+14.3 % 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 Hill & Smith PLC (HSHPF)?
The free-cash-flow yield on the price is 4.30 %: that much free cash flow Hill & Smith PLC produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hill & Smith PLC (HSHPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hill & Smith PLC it is $23.86 per share (as of Sep 24, 2026), against a price of $39.78. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Hill & Smith PLC stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HSHPF trades above its calculated fair value: price $39.78, fair value $23.86, a gap of about −40% (overvalued). 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 HSHPF?
No. The price is what the market pays today ($39.78); the fair value is what the company's own numbers justify ($23.86). For Hill & Smith PLC the two are $15.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hill & Smith PLC worth?
The market values Hill & Smith PLC at about $3.2B (market capitalisation, as of Sep 24, 2026). Per share that is $39.78; our models calculate a fair value of $23.86 per share.
What do the bullish and bearish scenarios say about HSHPF?
Our models span a range for Hill & Smith PLC: cautious scenario $17.24, base $23.86, optimistic $29.82 per share (as of Sep 24, 2026, price $39.78). The range comes from different growth and margin assumptions, not from analyst opinions.
Which stocks are comparable to Hill & Smith PLC?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 Hill & Smith PLC stock attractive at the current price?
The data as of Sep 24, 2026: price $39.78, calculated fair value $23.86 (−40%), Quality Score 74/100, 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 HSHPF calculated?
We run Hill & Smith PLC 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 $23.86, 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 14.5 % above its aggregate fair value. Hill & Smith PLC itself currently trades above fair value. 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 Hill & Smith PLC (HSHPF)?
The latest price we hold is from Sep 25, 2026 and stands at $39.78. Our model-based fair value is $23.86, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hill & Smith PLC right now?
A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case ($29.82). The favourable scenario is already priced in.

Key figures of Hill & Smith PLC

How large is the market capitalisation of Hill & Smith PLC (HSHPF)?
The market capitalisation of Hill & Smith PLC is $3.2B. 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/E ratio of Hill & Smith PLC (HSHPF)?
The price-to-earnings ratio of Hill & Smith PLC is 29.3. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Hill & Smith PLC (HSHPF)?
The price-to-sales ratio of Hill & Smith PLC is 2.78 (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 Hill & Smith PLC (HSHPF)?
Earnings per share at Hill & Smith PLC are $1.36 (price ÷ EPS = P/E 29.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hill & Smith PLC (HSHPF)?
The dividend yield of Hill & Smith PLC is 1.3% (payout 39.0%). 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 Hill & Smith PLC (HSHPF)?
The net margin of Hill & Smith PLC is 9.5% (fiscal year 2025). 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 Hill & Smith PLC (HSHPF)?
The return on equity (ROE) of Hill & Smith PLC is 17.4% (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 Hill & Smith PLC (HSHPF)?
On an EBIT basis the return on assets of Hill & Smith PLC is 13.0% (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 Hill & Smith PLC (HSHPF)?
The operating margin of Hill & Smith PLC is 16.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hill & Smith PLC (HSHPF)?
Revenue at Hill & Smith PLC is growing +1.1% versus a year earlier (3y avg +5.9%). 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 Hill & Smith PLC (HSHPF)?
Earnings per share at Hill & Smith PLC are growing +5.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hill & Smith PLC (HSHPF) carry?
The net debt of Hill & Smith PLC is £10.9M (fiscal year 2025, ≈ 0.1 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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