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XPS Pensions Group (XPS) Fair Value & Analysis

Consumer Cyclical · GB · Market cap 647M GBX

XP XPS Pensions Group XPS · LSE
Price£3.26
Fair Value£1.69
Upside-48.2%
Quality77/100
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Healthy Growth
Solidly profitable · 10.1% net margin
Low debt · generates free cash flow
4.15% dividend yield
Mixed vs. peers (7/14)
Moderate moat 61/100
Evidence: High Range £1.27 – £2.11 Share as image

Fair value as of: Jul 15, 2026

From 13 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from £1.93 to £1.69 (−12.4%) since Jun 26, 2026. Share price +10.1% over the past month.

A strong business, but screening 48% overvalued on our models.

What matters now

  • A high-quality business (quality 77/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (£2.11). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

£3.77 £0.9515 Fair Value £1.69 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range £0.9515 – £3.77 · fair‑value band £1.27 – £2.11 · the £3.26 price screens above the £1.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

XPS Pensions Group (XPS) currently trades at £3.26, while our model-based Fair Value estimate is £1.69, implying the stock looks roughly 48.2% overvalued today. The Quality Score stands at 77/100 (high quality), in the Consumer Cyclical 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, XPS Pensions Group generated revenue of £247M at a net margin of 10.5%. Revenue grew 13.3% year over year. It earns a return on equity of 14.8%. Net debt stands at £61.2M. Fundamentals as of Jul 15, 2026

Our scenario range runs from £1.27 (bear case) to £2.11 (bull case); at £3.26, the current price sits above 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. For context, the median of 10 Consumer Cyclical peers we cover trades at -16% fair-value upside, at -48%, XPS screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF £2.48 £4.62 £7.55 80
Residual Income £0.8100 £0.9600 £1.58 76
Rev-Margin DCF £1.92 £3.51 £5.71 74
All 13 models by family
DCF Models
Owner Earnings £2.09 £4.04 £7.33 31
5Y P/E Exit £1.52 £2.68 £4.02 38
10Y P/E Exit £1.88 £3.06 £4.78 35
Earnings-Based
Graham-Dodd £0.8800 £5.07 £7.05 54
Lynch FV £1.43 £2.04 £2.65 50
Dividend Discount
Gordon GGM £0.9500 £1.71 £2.36 70
DDM Multi-Stage £0.9500 £1.57 £1.83 61
Multiples
P/E Multiple £1.27 £1.69 £2.11 63
P/B Multiple £0.9000 £1.20 £1.50 55
Asset-Based
NCAV (Graham) £0.4300 £0.5700 £0.8600 50
Growth DCF
Growth DCF £2.48 £4.62 £7.55 80
Rev-Margin DCF £1.92 £3.51 £5.71 74
Economic Profit
Residual Income £0.8100 £0.9600 £1.58 76

Widest divergence: Growth DCF (£3.51) versus Asset-Based (£0.5700). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 247M GBX
Revenue growth (YoY) +13.3%
Net margin 10.5%
Return on equity 14.8%
Free cash flow 49.4M GBX FY2026
P/E ratio 25.7
More key figures
Operating margin 16.5%
EPS (TTM) £0.1200
Dividend yield 4.0%
EPS growth (YoY) -32.2%
Net debt 61.2M GBX FY2026

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 77/100

Of which business quality 75 · Market factors (momentum, volatility) 56

Profitability 64
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 93
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

XPS Pensions Group plc, together with its subsidiaries, provides employee benefit consultancy and related business services in the United Kingdom. It offers convent and pension advisory; investment and insurance consulting; DB master trust schemes; and self-invested personal pension and SSAS pension services.

Full company description

XPS Pensions Group plc, together with its subsidiaries, provides employee benefit consultancy and related business services in the United Kingdom. It offers convent and pension advisory; investment and insurance consulting; DB master trust schemes; and self-invested personal pension and SSAS pension services. Further, it provides pension administer services, such as payroll, record keeping, calculations, communications, scheme accounting, and scam identification and protection, and management consultancy services, as well as de-risking projects, GMP equalization, trustee secretarial, and data audits and cleansing services. In addition, it provides XPS Arena, a digital learning platform; technologies; and trackers. The company was formerly known as Xafinity Plc and changed its name to XPS Pensions Group Plc in May 2018. XPS Pensions Group plc was incorporated in 2012 and is based in Reading, the United Kingdom.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

XPS Pensions Group reported revenue of £263M in FY2026 versus £139M in FY2022, a compound +17.3%/yr. Reported net income was £26.6M in FY2026, compounding +29.6%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
£263M
Latest YoY
+13.3%
Avg. growth/yr (3Y)
+16.3%
Avg. growth/yr (5Y)
+15.5%
Avg. growth/yr (12Y)
+14.5%
Revenue +17.3%/yr
FY22 £139M
FY23 £167M
FY24 £199M
FY25 £232M
FY26 £263M
Net income +29.6%/yr
FY22 £9.4M
FY23 £15.8M
FY24 £54.2M
FY25 £30.3M
FY26 £26.6M

XPS screens 48% overvalued. Compare with Rollins, Inc →

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Cite: Fair Value Calculator (2026). "XPS Pensions Group Fair Value". https://www.fairvalue-calculator.com/stock/XPS

Peer Group

Personal Services · 42 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 76 · Top 25%
Fair Value upside −48% · Bottom 25%
Return on equity (TTM) 15% · Above median
Return on assets 10% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 22% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 4.2% · Above median
Debt / equity 0.36× · Higher than median

Valuation Multiples vs Personal Services median · lower = cheaper

P/E (TTM) 26.4× · Pricier than 75% of peers
P/B 4.99× · Pricier than 75% of peers
P/S (TTM) 3.33× · Pricier than 75% of peers
P/FCF 17.7× · Pricier than 75% of peers
EV/EBITDA 14.8× · Pricier 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 0 · sector 12
FUTURE 67 · sector 23
PAST 59 · sector 28
HEALTH 82 · sector 94
DIVIDEND 83 · sector 74

VALUE 0: the price sits above our fair-value range.

Insider activity: 35/100

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 Personal Services stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Rollins, Inc ROL $44.47 $21.11 -53%
Service Corporation SCI $78.72 $39.27 -50%
Frontdoor, Inc FTDR $75.69 $75.55 -0%
H&R Block, Inc HRB $41.14 $78.83 +92%
Bright Horizons Family Solutions Inc BFAM $73.99 $62.41 -16%
Fu Shou Yuan International Group 1448 HK$2.64 HK$4.20 +59%
Lungyen Life Service Corporation 5530 48.60 TWD 31.33 TWD -36%
Carriage Services, Inc CSV $38.29 $26.63 -30%
Musti Group MUSTI €14.35 €14.08 -2%
Uniao Pet Participacoes S.A AUAU3 R$3.08 R$1.37 -56%

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Frequently asked questions

Is XPS Pensions Group (XPS) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of £1.69 versus a price of £3.26, about −48% (overvalued).
What is the fair value of XPS?
Our model-based fair value for XPS Pensions Group is £1.69 (as of Jul 15, 2026), built from audited fundamentals. The current price is £3.26.
What is the quality score of XPS?
XPS Pensions Group has a Quality Score of 77/100. 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 XPS Pensions Group (XPS)?
XPS Pensions Group reported trailing-twelve-month revenue of about £247M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of XPS?
The net profit margin of XPS Pensions Group is about 10.5%, meaning it keeps roughly 10.5% of revenue as net income. Based on the latest reported figures.
Does XPS Pensions Group pay a dividend?
XPS Pensions Group currently shows a dividend yield of about 4.03% relative to its recent price (as of Jul 15, 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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