Renishaw RSW.L
United KingdomTechnology · Scientific & Technical InstrumentsLondon Stock Exchange · GBP
60.81 GBP (+5.5%)
8 analysts
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Renishaw is a British manufacturer of precision instruments, metrology systems and additive manufacturing solutions, selling to sectors such as aerospace, automotive and electronics.
Listed on London Stock Exchange · Symbol RSW.L · LON: RSW · Currency GBP
Key points
from its scores- ✓Strong growth9.2
- ✓Good share-price trend8.4
- ✓Very solid balance sheet8.3
- ✕Little or no dividend4.9
- !Somewhat demanding valuation5.9
AI analysis
bottom line, main risk, context and newsQuality and growth are attractive, but the demanding valuation and lack of immediate catalysts limit short-term upside potential.
Renishaw shows a solid financial profile with net cash (Net Debt/EBITDA -1.53), an operating margin of 25.99% and earnings growth of 118.4%, although its valuation (P/E 35.37) already discounts much of that growth; the PEG of 0.67 suggests growth still justifies the multiple.
The main risk is concentration in cyclical industrial markets (aerospace, automotive, semiconductors) that could dampen demand if the global cycle weakens, despite the current balance sheet strength.
Context and risks
Renishaw has no material exposure to current macro factors: its precision instruments and metrology systems business does not depend significantly on commodities, shipping routes or interest rates. Its net cash balance sheet insulates it from the rise in rates, and its activity is not subject to specific regulatory or geopolitical risks beyond the UK standard.
Is Renishaw stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades in line with the Technology median (within 15%).
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 35.4 | 31.3 | +13% |
| EV / EBITDA | 21.6 | 20.4 | +6% |
| Price / book | 4.6 | 6.3 | −27% |
| Price / sales | 5.1 | 5.3 | −3% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.9 out of 10 (median for Technology: 5.3).
Average analyst target: 60.81 GBP, +5.5% versus the price.
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 35.4
- Forward P/E
- 23.6
- EV / EBITDA
- 21.6
- Price / book
- 4.6
- Price / sales
- 5.1
- PEG
- 0.67
- Market cap
- 4.2B GBP
- Enterprise value
- 3.9B GBP
Profitability
- ROE
- 12.5%
- ROA
- 8.3%
- ROIC (approx.)
- 22.9%
- Gross margin
- 47.7%
- Operating margin
- 26.0%
- Net margin
- 14.6%
- Free cash flow
- 48.4M GBP
- FCF yield
- 1.2%
- Cash conversion
- 27%
Solvency
- Total debt
- 13.5M GBP
- Net debt
- −277.4M GBP
- Cash
- 291.0M GBP
- EBITDA
- 181.1M GBP
- Net debt / EBITDA
- −1.53
- Debt / equity
- 1.37
- Current ratio
- 4.08
- Quick ratio
- 2.94
Growth
- Revenue growth
- +21.1%
- Earnings growth
- +118.4%
- EPS (TTM)
- 1.63 GBP
- EPS (forward)
- 2.44 GBP
Dividend
- Dividend yield
- 1.4%
- Payout
- 76.6%
Risk and market
- Beta
- 1.04
- Analyst consensus
- Buy (8)
- Target price
- 60.81 GBP
Recent news
All RSW.L news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Renishaw
Is Renishaw stock cheap or expensive?
On P/E and EV / EBITDA, it trades in line with the Technology median (within 15%). Valuation score: 5.9 out of 10 (median for Technology: 5.3). Average analyst target: 60.81 GBP, +5.5% versus the price. This is not investment advice.
What score does Renishaw get on MeridIAn Screener?
It scores 7.1 out of 10, rank 182 of 2,130 (better than 91% of the companies analysed). Its strongest category is Growth (9.2) and its weakest, Dividend (4.9). Analysis of 08/10/2026.
What is Renishaw's P/E ratio?
Its P/E is 35.4: the share price equals 35.4 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 23.6.
How much is Renishaw worth on the stock market?
Its market capitalisation is 4.2B GBP and its enterprise value, debt included, is 3.9B GBP.
How much debt does Renishaw have?
It has more cash than debt: net cash of 277.4M GBP.
Does Renishaw pay a dividend?
Yes: its dividend yield is 1.35% and it pays out 77% of its earnings.
How has Renishaw stock performed over the last year?
It has risen 56.7% over the last year, excluding dividends. Over the last 52 weeks it has traded between 0.00 and 60.30 GBP. Past performance does not guarantee future results.
What do analysts think of Renishaw?
8 analysts cover it; their average recommendation is “Buy” and their average target is 60.81 GBP (+5.5% versus the price). It is an estimate, not market data.