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Morgan Advanced Materials plc (MGAM) Fair Value & Analysis

Industrials · GB · Market cap 634M GBX

MA Morgan Advanced Materials plc MGAM · LSE
Price£2.22
Fair Value£2.15
Upside-2.9%
Quality90/100
Evidence: High Range £1.34 – £3.09

Fair value as of: Jun 24, 2026

From 24 valuation models · updated 6 days ago

Fair value updated Jun 24, 2026 — revised from £1.48 to £2.15 (+45.3%) since Jun 23, 2026. Share price −7.4% over the past month.

Price vs Fair Value (12 months)

£2.45 £1.89 Fair Value £2.15 Jul 2025 Jun 2026

12‑month range £1.89 – £2.45 · fair‑value band £1.34 – £3.09 · the £2.22 price screens above the £2.15 fair value. As of Jun 24, 2026.

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Analysis

Morgan Advanced Materials plc (MGAM) currently trades at £2.22, while our model-based Fair Value estimate is £2.15 — implying the stock looks roughly 2.9% overvalued today. We read business quality at 90/100 (high quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Morgan Advanced Materials plc generated revenue of £997M at a net margin of 2.1%. Revenue declined 8.7% year over year. It earns a return on equity of 1.4%. Net debt stands at £281M. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 997M GBX
Revenue growth (YoY) -8.7%
Net margin 2.1%
Return on equity 1.4%
Free cash flow 53.5M GBX FY2025
Operating margin 8.6%
More key figures
EPS (TTM) £-0.0100
Dividend yield 5.4%
EPS growth (YoY) -59.2%
Net debt 281M GBX FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Morgan Advanced Materials plc manufactures and sells various carbon and ceramic products. The company operates through Thermal Products, Performance Carbon, and Technical Ceramics segments. The Thermal Products segment manufactures products, systems, and solutions, such as crucibles, foundry products, furnace industries furnace range products, insulating fibre and microporous products, firebricks and mortars, and heat shields used in industrial metal processing, petrochemicals, cement, ceramics, and glass, as well as by manufacturers of equipment for aerospace, automotive, marine, and domestic applications. The Performance Carbon segment develops and manufactures carbon, graphite, and carbide products, including semiconductor consumables, collector strips and carbon brushes, graphite powders, face seals, sliding bearings, shafts, and rotary vane pump components for charging and driving EVs, wind turbines, and power generation, as well as for the security and defense sector. The Tech…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Morgan Advanced Materials plc reported revenue of £997M in FY2025 versus £951M in FY2021, a compound +1.2%/yr. Reported net income was £21.1M in FY2025, compounding −26.9%/yr from FY2021.

Revenue +1.2%/yr
FY21 £951M
FY22 £1.1B
FY23 £1.1B
FY24 £1.1B
FY25 £997M
Net income −26.9%/yr
FY21 £73.8M
FY22 £88.0M
FY23 £47.3M
FY24 £50.3M
FY25 £21.1M

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Frequently asked questions

Is Morgan Advanced Materials plc (MGAM) undervalued?
As of Jun 24, 2026, our model estimates a fair value of £2.15 versus a price of £2.22 — about −3% (overvalued). Model-based estimate, not financial advice.
What is the fair value of MGAM?
Our 21-model fair value for Morgan Advanced Materials plc is £2.15 (as of Jun 24, 2026), built from audited fundamentals. The current price is £2.22.
What is the quality score of MGAM?
Morgan Advanced Materials plc has a Quality Score of 90/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Morgan Advanced Materials plc (MGAM)?
Morgan Advanced Materials plc reported trailing-twelve-month revenue of about £997M (latest available figure, as of Jun 24, 2026).
What is the net profit margin of MGAM?
The net profit margin of Morgan Advanced Materials plc is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does Morgan Advanced Materials plc pay a dividend?
Morgan Advanced Materials plc currently shows a dividend yield of about 5.43% relative to its recent price (as of Jun 24, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.