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Rathbones Group (RAT) Fair Value & Analysis

Financial Services · GB · Market cap 2.0B GBX

RG Rathbones Group RAT · LSE
Price£16.06
Fair Value£22.00
Upside+37.0%
Quality95/100
Evidence: High Range £16.50 – £27.50

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Jun 26, 2026 — revised from £22.19 to £22.00 (−0.9%) since Jun 24, 2026. Share price −20.0% over the past month.

Price vs Fair Value (12 months)

£22.23 £16.04 Fair Value £22.00 Jun 2025 Jun 2026

12‑month range £16.04 – £22.23 · fair‑value band £16.50 – £27.50 · the £16.06 price screens below the £22.00 fair value. As of Jun 26, 2026.

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Analysis

Rathbones Group (RAT) currently trades at £16.06, while our model-based Fair Value estimate is £22.00 — implying the stock looks roughly 37.0% undervalued today. We read business quality at 95/100 (high quality), in the Financial Services 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, Rathbones Group generated revenue of £1.0B at a net margin of 11.0%. Revenue grew 7.6% year over year. It earns a return on equity of 8.3%. The balance sheet holds a net cash position of £1.3B. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 1.0B GBX
Revenue growth (YoY) +7.6%
Net margin 11.0%
Return on equity 8.3%
Free cash flow 187M GBX FY2025
P/E ratio 18.3
More key figures
Operating margin 25.9%
EPS (TTM) £1.05
Dividend yield 5.1%
EPS growth (YoY) +250%
Net cash 1.3B GBX FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Rathbones Group Plc, together with its subsidiaries, provides wealth management, asset management, and related services in the United Kingdom and Channel Islands. The company operates in two segments: Wealth Management and Asset Management. Its services include discretionary investment management; financial planning and advisory services comprising trust, tax, and legal services; international investment services; ethical and sustainable investments; and personal injury and court of protection services. The company also offers banking services, including currency and payment services, fixed interest term deposits, and loans. It serves individuals, families, financial advisers, professional intermediaries, entrepreneurs, private clients, charities, trustees, and professional partners. The company was formerly known as Rathbone Brothers Plc and changed its name to Rathbones Group Plc in December 2021. Rathbones Group Plc was founded in 1742 and is based in London, the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Rathbones Group reported revenue of £1.0B in FY2025 versus £469M in FY2021, a compound +21.9%/yr. Reported net income was £112M in FY2025, compounding +10.5%/yr from FY2021.

Revenue +21.9%/yr
FY21 £469M
FY22 £456M
FY23 £676M
FY24 £896M
FY25 £1.0B
Net income +10.5%/yr
FY21 £75.2M
FY22 £49.0M
FY23 £37.5M
FY24 £65.5M
FY25 £112M

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Frequently asked questions

Is Rathbones Group (RAT) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £22.00 versus a price of £16.06 — about +37% (undervalued). Model-based estimate, not financial advice.
What is the fair value of RAT?
Our 21-model fair value for Rathbones Group is £22.00 (as of Jun 26, 2026), built from audited fundamentals. The current price is £16.06.
What is the quality score of RAT?
Rathbones Group has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Rathbones Group (RAT)?
Rathbones Group reported trailing-twelve-month revenue of about £1.0B (latest available figure, as of Jun 26, 2026).
What is the net profit margin of RAT?
The net profit margin of Rathbones Group is about 11.0%, meaning it keeps roughly 11.0% of revenue as net income. Based on the latest reported figures.
Does Rathbones Group pay a dividend?
Rathbones Group currently shows a dividend yield of about 5.08% relative to its recent price (as of Jun 26, 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.