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James Halstead plc (JHD) Fair Value & Analysis

Industrials · GB · Market cap 536M GBX

JH James Halstead plc JHD · LSE
Price£1.29
Fair Value£1.63
Upside+26.7%
Quality76/100
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Weak Growth
Solidly profitable · 14.6% net margin
Low debt · generates free cash flow
6.99% dividend yield
Ranks above peers (9/14)
Wide moat 71/100
Evidence: High Range £1.14 – £2.25 Share as image

Fair value as of: Jul 19, 2026

From 25 valuation models · updated 22 days ago

Share price +4.0% over the past month.

A strong business, screening 27% undervalued on our models.

What matters now

  • The rarer combination: high quality (76/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (£1.14 to £2.25) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

£2.58 £1.13 Fair Value £1.63 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range £1.13 – £2.58 · fair‑value band £1.14 – £2.25 · the £1.29 price screens below the £1.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

James Halstead plc (JHD) currently trades at £1.29, while our model-based Fair Value estimate is £1.63, implying the stock looks roughly 26.7% undervalued today. The Quality Score stands at 76/100 (high 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 Halstead plc generated revenue of £259M at a net margin of 14.6%. Revenue declined 2.2% year over year. It earns a return on equity of 21.3%. The balance sheet holds a net cash position of £63.5M. Fundamentals as of Jul 19, 2026

Our scenario range runs from £1.14 (bear case) to £2.25 (bull case); at £1.29, 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 -33% fair-value upside, at 27%, JHD screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF £0.9100 £1.14 £1.42 80
Residual Income £0.5200 £0.6400 £1.33 76
Rev-Margin DCF £0.9000 £1.28 £1.68 74
All 25 models by family
DCF Models
FCF DCF £0.9000 £1.15 £1.47 38
Owner Earnings £1.11 £1.44 £1.85 31
5Y Revenue Exit £0.9000 £1.27 £1.71 39
5Y EBITDA Exit £1.19 £1.78 £2.44 41
5Y P/E Exit £1.25 £1.89 £2.53 38
10Y Revenue Exit £0.8700 £1.18 £1.55 36
10Y EBITDA Exit £1.06 £1.49 £2.04 37
10Y P/E Exit £1.09 £1.56 £2.10 35
Earnings-Based
Graham-Dodd £0.6600 £1.58 £2.03 54
PEG = 1.0 £0.2700 £0.3900 £0.5100 46
EPV £0.9000 £1.00 £1.08 59
Dividend Discount
Gordon GGM £0.6800 £1.07 £1.47 70
DDM Multi-Stage £0.6800 £0.9500 £1.22 61
Multiples
P/E Multiple £1.54 £2.05 £2.56 63
P/S Multiple £0.9400 £1.26 £1.57 58
P/B Multiple £1.24 £1.66 £2.07 55
EV/EBIT £1.78 £2.32 £2.86 53
EV/EBITDA £1.58 £2.05 £2.52 54
EV/Revenue £0.9600 £1.30 £1.64 43
Asset-Based
NCAV (Graham) £0.2200 £0.2900 £0.4400 50
Growth DCF
Growth DCF £0.9100 £1.14 £1.42 80
Rev-Margin DCF £0.9000 £1.28 £1.68 74
Economic Profit
Residual Income £0.5200 £0.6400 £1.33 76
ROIC Compounder £0.9200 £1.06 £1.19 72
Growth Earnings
Growth-Adj P/E £1.17 £1.67 £2.17 68

Widest divergence: Growth Earnings (£1.67) versus Asset-Based (£0.2900). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 259M GBX
Revenue growth (YoY) -2.2%
Net margin 14.6%
Return on equity 21.3%
Free cash flow 34.4M GBX FY2025
P/E ratio 14.2
More key figures
Operating margin 18.6%
EPS (TTM) £0.0900
Dividend yield 7.0%
EPS growth (YoY) -12.9%
Net cash 63.5M GBX FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 76/100

Of which business quality 76 · Market factors (momentum, volatility) 49

Profitability 82
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 79
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 Halstead plc manufactures and supplies flooring products for commercial and domestic uses in the United Kingdom, rest of Europe, Scandinavia, Australasia, Asia, and internationally. The company offers its products under the Polyflor, Palettone, Camaro, Polysafe, Recofloor, and Expona names.

Full company description

James Halstead plc manufactures and supplies flooring products for commercial and domestic uses in the United Kingdom, rest of Europe, Scandinavia, Australasia, Asia, and internationally. The company offers its products under the Polyflor, Palettone, Camaro, Polysafe, Recofloor, and Expona names. Its products are used in healthcare, education, and other sectors. James Halstead plc was founded in 1914 and is based in Manchester, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

James Halstead plc reported revenue of £262M in FY2025 versus £266M in FY2021, a compound −0.4%/yr. Reported net income was £40.6M in FY2025, compounding +0.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
£262M
Latest YoY
−4.7%
Avg. growth/yr (3Y)
−3.5%
Avg. growth/yr (5Y)
+1.9%
Avg. growth/yr (39Y)
+5.1%
Revenue −0.4%/yr
FY21 £266M
FY22 £292M
FY23 £304M
FY24 £275M
FY25 £262M
Net income +0.5%/yr
FY21 £39.9M
FY22 £40.3M
FY23 £42.4M
FY24 £41.5M
FY25 £40.6M

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Cite: Fair Value Calculator (2026). "James Halstead plc Fair Value". https://www.fairvalue-calculator.com/stock/JHD

Peer Group

Building Products & Equipment · 247 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 76 · Top 25%
Fair Value upside +27% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth -2% · Below median
Dividend yield (TTM) 7.0% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Building Products & Equipment median · lower = cheaper

P/E (TTM) 14.3× · Cheaper than median
P/B 3.97× · Pricier than 75% of peers
P/S (TTM) 2.79× · Pricier than 75% of peers
P/FCF 21.0× · Pricier than 75% of peers
EV/EBITDA 12.2× · 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 69 · sector 4
FUTURE 0 · sector 9
PAST 85 · sector 23
HEALTH 100 · sector 94
DIVIDEND 100 · sector 28

Insider activity: 30/100

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 Building Products & Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Trane Technologies plc TT $469.98 $212.34 -55%
Johnson Controls International plc JCI $142.81 $45.65 -68%
Carrier Global Corporation CARR $68.61 $17.35 -75%
Compagnie de Saint-Gobain S.A SGO €76.62 €101.60 +33%
Geberit AG GEBN CHF 523.20 CHF 307.66 -41%
Lennox International Inc LII $543.93 $363.09 -33%
Kingspan Group KRX €87.30 €70.76 -19%
Masco Corporation MAS $78.04 $54.36 -30%
PT Impack Pratama Industri Tbk, IMPC 1,420 IDR 179.76 IDR -87%
NIBE Industrier AB NIBEB kr 36.03 kr 25.37 -30%

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Frequently asked questions

Is James Halstead plc (JHD) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of £1.63 versus a price of £1.29, about +27% (undervalued).
What is the fair value of JHD?
Our model-based fair value for James Halstead plc is £1.63 (as of Jul 19, 2026), built from audited fundamentals. The current price is £1.29.
What is the quality score of JHD?
James Halstead plc has a Quality Score of 76/100. 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 Halstead plc (JHD)?
James Halstead plc reported trailing-twelve-month revenue of about £259M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of JHD?
The net profit margin of James Halstead plc is about 14.6%, meaning it keeps roughly 14.6% of revenue as net income. Based on the latest reported figures.
Does James Halstead plc pay a dividend?
James Halstead plc currently shows a dividend yield of about 7.04% relative to its recent price (as of Jul 19, 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.

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