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Associated British Foods plc ABF.L

GB · London Stock Exchange · XLON · stock · Consumer Defensive · website

Associated British Foods plc statistics & valuation

Market cap£14.4B
P / E15.4×
P / S0.7×
P / B1.2×
P / FCF11.6×
Net margin4.7%
FCF margin6.3%
Net debt£2.8B
Enterprise value USD$22.7B
Earnings yield EBIT/EV7.9%
Return on capital8.5%
Graham number -98.9%£22.19

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (£22.19); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
5.30% 7.20% 5.30% 4.70% 2023202420252026
Gross margin (%)
21.10% 24.30% 23.90% 23.80% 2023202420252026
Operating margin (%)
6.80% 9.10% 8.10% 7.00% 2023202420252026
Return on equity (%)
9.40% 13.00% 9.30% 8.00% 2023202420252026
Shares outstanding
699.6M 699.6M 699.6M 699.6M 2023202420252026
Net debt (£)
£2.27B £2.35B £2.63B £2.84B 2023202420252026
Share buybacks (£)
£494.0M £582.0M £629.0M £273.0M 2023202420252026
Return on assets (%)
5.50% 7.70% 5.30% 4.60% 2023202420252026
Free cash flow margin (%)
2.90% 8.40% 5.10% 6.30% 2023202420252026
Debt / equity (×)
0.34× 0.33× 0.33× 0.33× 2023202420252026
EPS (£)
£1.34 £1.94 £1.42 £1.32 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Associated British Foods plc trades at about 1556.5× earnings — near its 10-year norm (10-year range 1204.4×–1509.8×, median 1448.7×).

1204.4× 1556.5×

Shaded band = 10-year range (1204.4×–1509.8×); dot = today's 1556.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin23.8%23.9%24.3%21.1%
Operating margin7.0%8.1%9.1%6.8%
Net margin4.7%5.3%7.2%5.3%
FCF margin6.3%5.1%8.4%2.9%
Return on assets4.6%5.3%7.7%5.5%
Return on equity8.0%9.3%13.0%9.4%
Debt / equity0.04×0.04×0.04×0.04×
Current ratio1.501.541.781.83

Computed from company filings · GB · as of 2026-08-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.