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⚠️ Not investment advice. Past performance does not guarantee future results.
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Spirax Group SPX.L

United Kingdom Industrials
5.7/10
AI Analyst score
71.00 GBP
Last price at analysis date · analyst target 81.00 (+14.1%)
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🟡 HOLD — Hold; business quality is high but the valuation offers no margin of safety to buy at current levels.

Spirax Group is a British manufacturer of industrial equipment specializing in fluid control, thermal management, and hygiene solutions for high-precision processes in sectors such as pharmaceutical, chemical, and food. Spirax Group combines an exceptional gross margin of 75.33% and an ROE of 16.62% with 55.7% earnings growth, but its valuation (P/E 26.39) and low dividend yield (0.02%) limit the appeal; negative momentum (-2.44%) reflects market disappointment with merely good results.

Financial health
6.8
Quality / Moat
6.8
Valuation
4.9
Growth
7.3
Dividend
4.3
Momentum
3.2
Risk & Context
5.5

Detailed metrics

Market and fundamental data as of the analysis date.

💵 Valuation
P/E26.39
Fwd P/E19.75
EV/EBITDA15.29
P/B4.19
P/S3.00
PEG1.58
Market cap5.24 B GBP
Enterprise value5.91 B GBP
🏰 Quality and moat
ROIC (approx.)13.3%
Gross margin75.33%
FCF conversion42%
Operating margin17.78%
📈 Profitability and margins
ROE16.62%
ROA7.47%
Net margin11.36%
FCF162.8 M GBP
FCF yield3.11%
🏦 Solvency and liquidity
Total debt1.09 B GBP
Net debt707.5 M GBP
Cash378.3 M GBP
EBITDA386.6 M GBP
Net debt / EBITDA1.83
D/E86.78
Current ratio2.14
Quick ratio1.41
🚀 Growth
Revenue growth5.10%
Earnings growth55.70%
EPS (TTM)2.69 GBP
EPS (Fwd)3.59 GBP
💰 Dividend and risk
Dividend yield0.02%
Payout63.3%
Beta1.14
Analyst consensusBuy (18)
Target price81.00 GBP
52-week range59.50 GBP – 80.50 GBP
⚠️ Main risk: Dependence on cyclical sectors such as chemicals and pharmaceuticals, along with a free cash flow conversion of 42.1% below expectations, could keep pressuring the multiple if growth decelerates.
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Full AI report

Generated automatically from the metrics, the macro context and the company's news.

Spirax Group is a British manufacturer of industrial equipment specializing in fluid control, thermal management, and hygiene solutions for high-precision processes in sectors such as pharmaceutical, chemical, and food. Spirax Group combines an exceptional gross margin of 75.33% and an ROE of 16.62% with 55.7% earnings growth, but its valuation (P/E 26.39) and low dividend yield (0.02%) limit the appeal; negative momentum (-2.44%) reflects market disappointment with merely good results.

Score by category

CategoryScore
Financial health6.8
Quality / Moat6.8
Valuation4.9
Growth7.3
Dividend4.3
Momentum3.2
Risk & Context5.5

OVERALL SCORE: 5.7/10

Context and risks

Moderate governance/regulatory risk in the UK. No material exposure to current macro factors: oil is not a relevant input for its precision manufacturing and its moderate debt (ND/EBITDA 1.83) limits the impact of interest rates.

News considered in the analysis

  • SPIRAX GRP PLC (SPXSY) Could Find a Support Soon, Here's Why You Should Buy the Stock Now — Artículo promocional de Zacks sin información nueva; ruido.
  • Spirax Gets Punished for Being Merely Good — Refleja la decepción del mercado con unos resultados H1 que, siendo sólidos, no cumplieron las altas expectativas; explica parte del mal momentum.
  • Spirax-Sarco Engineering H1 Earnings Call Highlights — Resumen de la conference call de resultados; la información ya está en el precio tras la reacción del mercado.
  • SPIRAX GRP PLC (SPXSY) Forms 'Hammer Chart Pattern': Time for Bottom Fishing? — Análisis técnico superficial sin información fundamental; ruido.
  • Why Spirax Group plc (LON:SPX) Could Be Worth Watching — Artículo genérico de Simply Wall St. sin catalizadores concretos; ruido.

Verdict: Hold; business quality is high but the valuation offers no margin of safety to buy at current levels.

Main risk: Dependence on cyclical sectors such as chemicals and pharmaceuticals, along with a free cash flow conversion of 42.1% below expectations, could keep pressuring the multiple if growth decelerates.

Other Industrials companies

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Automatically generated analysis from fundamental, market and news data. Not personalised financial advice — a research tool, not an individual recommendation. Past performance does not guarantee future results. Last update of this analysis: 2026-09-28. Legal notice, privacy & cookies.