Ultimate Products Plc (ULTP) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Ultimate Products Plc £1.11, price £0.46, upside +140.8%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range £0.4070 – £1.79 · fair‑value band £0.8100 – £1.47 · the £0.4610 price screens below the £1.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ultimate Products Plc, together with its subsidiaries, supplies branded household products in the United Kingdom, Rest of Europe, and internationally.
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Ultimate Products Plc, together with its subsidiaries, supplies branded household products in the United Kingdom, Rest of Europe, and internationally. The company offers a range of household products, including vacuum cleaners, food prep, storage solutions, and airers, as well as fans, heaters, and electric fires under the Beldray brand; cookware, kitchen electrical, and scale products under the SALTER brand; audio products under the Intempo brand; non-electrical kitchen and laundry products under the Russell Hobbs brand; and travel luggage and accessories under constellation and ZFrame brands. It also provides floorcare, healthy living, and party appliances under the PROlectrix brand; bone China kitchenware products under Portobello brand; pillows, duvets, mattress, protectors, and toppers under Dreamtime brand; and bakeware, cookware, and textile products under George Wilkinson brand. In addition, the company offers party and kitchen products under GILES & POSNER brand; kitchen products under AMERICAN originals and PROGRESS brands; and handmade wire brushes products under the Kleeneze brand. It sells its products through retailers, as well as online. Ultimate Products Plc was formerly known as UP Global Sourcing Holdings plc and changed its name to Ultimate Products Plc in October 2023. The company was founded in 1997 and is headquartered in Oldham, the United Kingdom.
Stock analysis
Ultimate Products Plc (ULTP) currently trades at £0.4610, while our model-based Fair Value estimate is £1.11, implying the stock looks roughly 58.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of £1.50 per share, and 23 of the 24 models we run sit above the £0.4610 price.
Bear case: the Asset-Based group reads lowest at £0.3700, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: £0.8100 (bear) to £1.47 (bull), the price of £0.4610 sits below 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 62/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ultimate Products Plc reported revenue of 150M GBX in FY2025 versus 136M GBX in FY2021, a compound +2.4%/yr. Reported net income was 5.8M GBX in FY2025, compounding −5.6%/yr from FY2021.
Key figures
Market cap 39.8M GBX · P/E ratio 9.2 · P/S ratio 0.36 · EPS (TTM) £0.0500 · Dividend yield 6.7% · Net margin 3.9% · Return on equity 8.2% · Return on assets (EBIT) 13.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 141%, ULTP screens cheaper than that median.
Fair Value models
Bear £0.8100Fair Value £1.11Bull £1.47
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 12 months old). Earnings retained since then (£0.0190 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.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.
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.59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.4%
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.
−0.9%
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.
+5.4%
Start year 2020 (pandemic)
Revenue growth 9 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.
+7.4%
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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.
+2.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.1%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−4% vs 0%, slowing
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.8% → 6%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+0.2%
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.
−0.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about −2.1% a year for the price and −2.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Furnishings, Fixtures & Appliances · 317 stocks
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Is Ultimate Products Plc (ULTP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £1.11 versus a price of £0.4610, about +141% upside (undervalued).
What is the fair value of ULTP?
Our model-based fair value for Ultimate Products Plc is £1.11 (as of Sep 24, 2026), built from audited fundamentals. The current price: £0.4610.
What is the quality score of ULTP?
Ultimate Products Plc has a Quality Score of 62/100. 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 Ultimate Products Plc (ULTP)?
Our model-based price target is the fair value of £1.11 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario £0.8100, optimistic scenario £1.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Ultimate Products Plc stock forecast for 2026?
Our models put fair value at £1.11, about +141% upside versus a price of £0.4610 (undervalued). Cautious scenario £0.8100, optimistic scenario £1.47. The calculation is refreshed regularly with new filings.
What is the revenue of Ultimate Products Plc (ULTP)?
Ultimate Products Plc reported trailing-twelve-month revenue of about £145M (latest available figure, as of Sep 24, 2026).
Does Ultimate Products Plc pay a dividend?
Ultimate Products Plc currently shows a dividend yield of about 6.72% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ultimate Products Plc (ULTP)?
For today's price to be fair in a discounted-cash-flow model, Ultimate Products Plc would have to grow free cash flow by +0.2 % per year for five years (discount rate 11.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ULTP use?
Our models discount Ultimate Products Plc at 11.9 %: a base by market capitalisation (micro), damped by beta 0.59, country premium for United Kingdom. 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 Ultimate Products Plc that is +0.2 % per year a year over ten years, using the same discount rate (11.9 %) and the same formula as our fair value.
How much growth has Ultimate Products Plc (ULTP) delivered so far?
Over the past 5 years revenue at Ultimate Products Plc grew +5.4 % a year. The price currently implies +0.2 % 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 Ultimate Products Plc (ULTP) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Ultimate Products Plc (+0.2 % 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 Ultimate Products Plc (ULTP)?
The free-cash-flow yield on the price is 13.67 %: that much free cash flow Ultimate Products Plc produces per unit of market value. When it exceeds the discount rate of our models (11.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ultimate Products Plc (ULTP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ultimate Products Plc it is £1.11 per share (as of Sep 24, 2026), against a price of £0.4610. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ultimate Products Plc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ULTP trades below its calculated fair value: price £0.4610, fair value £1.11, a gap of about +141% (undervalued). 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 ULTP?
No. The price is what the market pays today (£0.4610); the fair value is what the company's own numbers justify (£1.11). For Ultimate Products Plc the two are £0.6490 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ultimate Products Plc worth?
The market values Ultimate Products Plc at about 39.8M GBX (market capitalisation, as of Sep 24, 2026). Per share that is £0.4610; our models calculate a fair value of £1.11 per share.
What do the bullish and bearish scenarios say about ULTP?
Our models span a range for Ultimate Products Plc: cautious scenario £0.8100, base £1.11, optimistic £1.47 per share (as of Sep 24, 2026, price £0.4610). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ULTP?
Ultimate Products Plc trades at a price-to-earnings ratio of 9.2 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £1.11 is built from several models across several years. Other multiples: P/B 1.2, P/S 0.4, EV/EBITDA 5.8.
How solid is the balance sheet of Ultimate Products Plc (ULTP)?
Balance-sheet figures for Ultimate Products Plc (as of Sep 24, 2026): return on equity 8.2%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is ULTP from its 52-week high?
Ultimate Products Plc trades at £0.4610, about 25% below its 52-week high of £0.6153 and 13% above the low of £0.4070 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £1.11 is for.
Which stocks are comparable to Ultimate Products Plc?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 Ultimate Products Plc stock attractive at the current price?
The data as of Sep 24, 2026: price £0.4610, calculated fair value £1.11 (+141%), Quality Score 62/100, 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 ULTP calculated?
We run Ultimate Products 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 £1.11, 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 13.2 % above its aggregate fair value. Ultimate Products Plc currently trades 141 % below its own fair value, and the market average says nothing about that. 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 Ultimate Products Plc (ULTP)?
The closing price on Sep 24, 2026 was £0.4610. Our model-based fair value is £1.11, about +141% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ultimate Products Plc right now?
The price is below even our cautious bear case (£0.8100). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (£0.8100 to £1.47) leaves room in how you read the outcome.
Key figures of Ultimate Products Plc
How large is the market capitalisation of Ultimate Products Plc (ULTP)?
The market capitalisation of Ultimate Products Plc is 39.8M GBX. 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/S ratio of Ultimate Products Plc (ULTP)?
The price-to-sales ratio of Ultimate Products Plc is 0.36 (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 Ultimate Products Plc (ULTP)?
Earnings per share at Ultimate Products Plc are £0.0500 (price ÷ EPS = P/E 9.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ultimate Products Plc (ULTP)?
The dividend yield of Ultimate Products Plc is 6.7% (payout 62.0%). 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 Ultimate Products Plc (ULTP)?
The net margin of Ultimate Products Plc is 3.9% (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 Ultimate Products Plc (ULTP)?
The return on equity (ROE) of Ultimate Products Plc is 8.2% (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 Ultimate Products Plc (ULTP)?
On an EBIT basis the return on assets of Ultimate Products Plc is 13.2% (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 Ultimate Products Plc (ULTP)?
The operating margin of Ultimate Products Plc is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ultimate Products Plc (ULTP)?
Revenue at Ultimate Products Plc is growing −6.3% versus a year earlier (3y avg −0.9%). 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 Ultimate Products Plc (ULTP)?
Earnings per share at Ultimate Products Plc are growing −52.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ultimate Products Plc (ULTP) carry?
The net debt of Ultimate Products Plc is 17.5M GBX (fiscal year 2025, ≈ 3.2 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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