Ultimate Products Plc (ULTP) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ultimate Products Plc stock £0.95, price £0.49, upside +93.9%, quality 65 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range £0.4070 – £1.79 · fair‑value band £0.7200 – £1.19 · the £0.4900 price screens below the £0.9500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 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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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 £0.4900, while our model-based Fair Value estimate is £0.9500, implying the stock looks roughly 48% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of £1.30 per share, and 19 of the 24 models we run sit above the £0.4900 price.
Bear case: the Dividend Discount group reads lowest at £0.2600, and 5 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: £0.7200 (bear) to £1.19 (bull), the price of £0.4900 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 65/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Ultimate Products Plc reported revenue of £145M in FY2026 versus £154M in FY2022, a compound −1.5%/yr. Reported net income was £3.6M in FY2026, compounding −26.5%/yr from FY2022.
Key figures
Market cap £41.3M Micro · P/E ratio 9.8 · P/S ratio 0.28 · EPS (TTM) £0.0500 · Dividend yield 6.3% · Net margin 2.7% · Return on equity 8.2% · Return on assets (EBIT) 12.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at 94%, ULTP screens cheaper than that median.
Fair Value models
Bear£0.7200Fair Value £0.9500Bull£1.19
Price £0.4900 · Upside +93.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 3 months old). Earnings retained since then (£0.0053 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−3.5%
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.
−4.5%
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.
+1.2%
Start year 2021 (pandemic). Over 10 years: +6.3% a year
Revenue growth 10 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.
+6.3%
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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.
−7.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.9%
Dividend (yield on the price)6.3%
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.−13.9% vs −4.6%, slowing
Profit margin 2021 to 2026 ⓘ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% → 5%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than 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).
−11.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+3.4%
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 −13.7% a year for the price and +1.1% 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 · 297 stocks
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Is Ultimate Products Plc (ULTP) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of £0.9500 versus a price of £0.4900, about +94% upside (undervalued).
What is the fair value of ULTP?
Our model-based fair value for Ultimate Products Plc is £0.9500 (as of Nov 9, 2026), built from audited fundamentals. The current price: £0.4900.
What is the quality score of ULTP?
Ultimate Products Plc has a Quality Score of 65/100. 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 £0.9500 (as of Nov 9, 2026) from 24 valuation models. Cautious scenario £0.7200, optimistic scenario £1.19. 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 £0.9500, about +94% upside versus a price of £0.4900 (undervalued). Cautious scenario £0.7200, optimistic scenario £1.19. 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 Nov 9, 2026).
Does Ultimate Products Plc pay a dividend?
Ultimate Products Plc currently shows a dividend yield of 6.33% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Ultimate Products Plc (ULTP) and when is the ex-dividend date?
Ultimate Products Plc pays a dividend of £0.031 per share a year, a dividend yield of 6.3%. The last ex-dividend date was May 28, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 62.0% of earnings. Free cash flow covers the dividend 3.81 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
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 -11.7 % 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 +1.2 % per year. As of Nov 9, 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 0.58, 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 -11.7 % per year for five years, then slowing evenly to 2 % by year ten, 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 +1.2 % a year. The price currently implies free-cash-flow growth of -11.7 % per 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 +4.7 % a year. That is the yardstick for the growth priced into Ultimate Products Plc (-11.7 % per 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 23.89 %: 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 £0.9500 per share (as of Nov 9, 2026), against a price of £0.4900. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Ultimate Products Plc stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ULTP trades below its calculated fair value: price £0.4900, fair value £0.9500, a gap of about +94% (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 (£0.4900); the fair value is what the company's own numbers justify (£0.9500). For Ultimate Products Plc the two are £0.4600 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 £41.3M (market capitalisation, as of Nov 9, 2026). Per share that is £0.4900; our models calculate a fair value of £0.9500 per share.
What do the bullish and bearish scenarios say about ULTP?
Our models span a range for Ultimate Products Plc: cautious scenario £0.7200, base £0.9500, optimistic £1.19 per share (as of Nov 9, 2026, price £0.4900). 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 9.8 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of £0.9500 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.3, EV/EBITDA 4.0.
How solid is the balance sheet of Ultimate Products Plc (ULTP)?
Balance-sheet figures for Ultimate Products Plc (as of Nov 9, 2026): return on equity 8.2%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is ULTP from its 52-week high?
Ultimate Products Plc trades at £0.4900, about 19% below its 52-week high of £0.6039 and 20% above the low of £0.4070 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of £0.9500 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, SharkNinja, Inc, Haier Smart Home 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 Nov 9, 2026: price £0.4900, calculated fair value £0.9500 (+94%), Quality Score 65/100, 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 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of £0.9500 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Ultimate Products Plc currently trades 48% 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 Nov 6, 2026 was £0.4900. Our model-based fair value is £0.9500, about +94% 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 (£0.7200). 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 (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Ultimate Products Plc (ULTP) come from?
Earnings per share at Ultimate Products Plc grew +1.4 % a year from 2016 to 2026. Broken into its drivers: revenue per share +4.1 %, EBIT margin −1.8 %, tax rate −0.6 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
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 £41.3M. 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 0.28 (last twelve months). 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 9.8). 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 6.3% (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 2.7% (last twelve months). 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 12.1% (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 −4.5%). 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 £11.8M (fiscal year 2026, ≈ 1.2 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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Thin data
Nov 9, 2026