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Johnson Service Group (JSG) Fair Value & Analysis

Industrials · GB · Market cap 512M GBX

JS Johnson Service Group JSG · LSE
Price£1.47
Fair Value£1.58
Upside+7.4%
Quality60/100
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Expensive Growth
Thin margins · 6.9% net margin
Low debt · generates free cash flow
2.92% dividend yield
Ranks above peers (10/14)
Moderate moat 51/100
Evidence: High Range £0.8900 – £2.29 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from £1.64 to £1.58 (−3.7%) since Jul 12, 2026. Share price +2.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (£0.8900 to £2.29) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

£1.70 £0.6909 Fair Value £1.58 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range £0.6909 – £1.70 · fair‑value band £0.8900 – £2.29 · the £1.47 price screens below the £1.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Johnson Service Group (JSG) currently trades at £1.47, while our model-based Fair Value estimate is £1.58, implying the stock looks roughly 7.4% fairly valued today. The Quality Score stands at 60/100 (solid 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, Johnson Service Group generated revenue of £535M at a net margin of 6.9%. Revenue grew 5.5% year over year. It earns a return on equity of 12.7%. Net debt stands at £159M. Fundamentals as of Aug 13, 2026

Our scenario range runs from £0.8900 (bear case) to £2.29 (bull case); at £1.47, 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. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. For context, the median of 10 Industrials peers we cover trades at -38% fair-value upside, at 7%, JSG 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 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 £0.6800 £1.01 £1.43 80
Residual Income £0.6700 £0.7800 £1.32 76
Rev-Margin DCF £1.01 £1.80 £2.67 74
All 26 models by family
DCF Models
FCF DCF £0.6700 £1.05 £1.54 38
Owner Earnings £0.6500 £1.02 £1.50 31
5Y Revenue Exit £1.01 £1.80 £2.79 39
5Y EBITDA Exit £2.41 £4.36 £6.61 41
5Y P/E Exit £0.9300 £1.65 £2.39 38
10Y Revenue Exit £0.8100 £1.45 £2.29 36
10Y EBITDA Exit £1.66 £3.06 £4.89 37
10Y P/E Exit £0.8100 £1.36 £2.01 35
Earnings-Based
Graham-Dodd £0.6800 £1.89 £2.49 54
Lynch FV £0.3800 £0.5400 £0.7000 50
PEG = 1.0 £0.3800 £0.5400 £0.7000 46
EPV £0.8400 £1.00 £1.13 59
Dividend Discount
Gordon GGM £0.3700 £0.6600 £0.9100 70
DDM Multi-Stage £0.3700 £0.5400 £0.7000 61
Multiples
P/E Multiple £1.58 £2.10 £2.63 63
P/S Multiple £1.28 £1.70 £2.13 58
P/B Multiple £1.28 £1.70 £2.13 55
EV/EBIT £1.99 £2.74 £3.50 53
EV/EBITDA £4.14 £5.61 £7.09 54
EV/Revenue £1.34 £2.03 £2.73 43
Asset-Based
NCAV (Graham) £0.3700 £0.5000 £0.7400 50
Growth DCF
Growth DCF £0.6800 £1.01 £1.43 80
Rev-Margin DCF £1.01 £1.80 £2.67 74
Economic Profit
Residual Income £0.6700 £0.7800 £1.32 76
ROIC Compounder £0.8600 £1.08 £1.33 72
Growth Earnings
Growth-Adj P/E £1.26 £1.80 £2.33 68

Widest divergence: Multiples (£2.03) versus Asset-Based (£0.5000). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 535M GBX
Revenue growth (YoY) +5.5%
Net margin 6.9%
Return on equity 12.7%
Free cash flow 38.3M GBX FY2025
P/E ratio 16.3
More key figures
Operating margin 12.1%
EPS (TTM) £0.0900
Dividend yield 3.1%
EPS growth (YoY) +7.4%
Net debt 159M GBX FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 52

Profitability 54
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 60
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 100
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

Johnson Service Group PLC, together with its subsidiaries, provides textile rental and related services in the United Kingdom and Ireland. The company provides workwear and protective wear rental; and workplace hygiene services under the Johnsons Workwear brands, as well as provides laundry services.

Full company description

Johnson Service Group PLC, together with its subsidiaries, provides textile rental and related services in the United Kingdom and Ireland. The company provides workwear and protective wear rental; and workplace hygiene services under the Johnsons Workwear brands, as well as provides laundry services. It offers linen services through the Johnsons Hotel Linen; Johnsons Hotel, Restaurant and Catering Linen by Stalbridge; Johnsons Restaurant & Catering Linen by London Linen; Regency and Empire; Johnsons Belfast; and Celtic Linen brand names. The company engages in property holding activities. Johnson Service Group PLC was incorporated in 1953 and is headquartered in Preston Brook, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Johnson Service Group reported revenue of £535M in FY2025 versus £271M in FY2021, a compound +18.5%/yr. Reported net income was £37.1M in FY2025, compounding +54.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
£535M
Latest YoY
+4.3%
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.
+11.6%
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.
+18.4%
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.
+4.6%
Revenue +18.5%/yr
FY21 £271M
FY22 £386M
FY23 £465M
FY24 £513M
FY25 £535M
Net income +54.0%/yr
FY21 £6.6M
FY22 £29.0M
FY23 £27.3M
FY24 £35.6M
FY25 £37.1M
Character of growth · EPS growth decomposed (2014-2025) +9.3 % p.a.
Revenue per share +8.2 pp

of which total revenue +9.8 pp · buybacks/dilution −1.5 pp

EBIT margin +16.9 pp
Tax rate −0.6 pp
Residual (interest, one-offs) −15.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Johnson Service Group Fair Value". https://www.fairvalue-calculator.com/stock/JSG

Peer Group

Specialty Business Services · 250 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 60 · Above median
Fair Value upside +7% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth 6% · Above median
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.42× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 16.3× · Cheaper than median
P/B 2.52× · Pricier than median
P/S (TTM) 1.29× · Pricier than median
P/FCF 18.1× · Pricier than 75% of peers
EV/EBITDA 5.0× · Cheaper than 75% of peers

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 43 · sector 26
FUTURE 28 · sector 25
PAST 51 · sector 33
HEALTH 79 · sector 90
DIVIDEND 58 · sector 53

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $205.28 $95.19 -54%
RELX PLC RELX $34.55 $32.24 -7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 -51%
Copart, Inc CPRT $28.99 $28.59 -1%
Global Payments Inc GPN $88.53 $68.98 -22%
RB Global, Inc RBA C$120.52 C$49.14 -59%
Brambles Limited BXB A$19.89 A$12.28 -38%
UL Solutions Inc ULS $76.68 $33.62 -56%
Aramark ARMK $60.35 $13.18 -78%
ISS A/S ISS kr 288.20 kr 251.13 -13%

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Frequently asked questions

Is Johnson Service Group (JSG) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of £1.58 versus a price of £1.47, about +7% (fairly valued).
What is the fair value of JSG?
Our model-based fair value for Johnson Service Group is £1.58 (as of Aug 13, 2026), built from audited fundamentals. The current price is £1.47.
What is the quality score of JSG?
Johnson Service Group has a Quality Score of 60/100. 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 Johnson Service Group (JSG)?
Johnson Service Group reported trailing-twelve-month revenue of about £535M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of JSG?
The net profit margin of Johnson Service Group is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
Does Johnson Service Group pay a dividend?
Johnson Service Group currently shows a dividend yield of about 3.12% relative to its recent price (as of Aug 13, 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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