Stocktoria

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 / E14.1×
P / S0.7×
P / B1.3×
P / FCF14.5×
Dividend yield4.54%
Net margin5.3%
Return on equity9.3%
FCF margin5.1%
Net debt£2.6B
Enterprise value USD$23.0B
Earnings yield EBIT/EV9.2%
Return on capital10.3%
Graham number -98.9%£22.45

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 (£22.45); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
5.30% 5.30% 7.20% 5.30% 2023202320242025
Gross margin (%)
21.10% 21.10% 24.30% 23.90% 2023202320242025
Operating margin (%)
6.80% 6.80% 9.10% 8.10% 2023202320242025
Return on equity (%)
9.40% 9.40% 13.00% 9.30% 2023202320242025
Shares outstanding
699.2M 699.2M 699.2M 699.2M 2023202320242025
Net debt (£)
£2.27B £2.27B £2.35B £2.63B 2023202320242025
Share buybacks (£)
£494.0M £494.0M £582.0M £629.0M 2023202320242025
Return on assets (%)
5.50% 5.50% 7.70% 5.30% 2023202320242025
Free cash flow margin (%)
2.90% 2.90% 8.40% 5.10% 2023202320242025
Debt / equity (×)
0.34× 0.34× 0.33× 0.33× 2023202320242025
EPS (£)
£1.34 £1.34 £1.94 £1.42 2023202320242025

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 1458.3× earnings — near its 10-year norm (10-year range 1204.4×–1541×, median 1509.8×).

1204.4× 1541×

Shaded band = 10-year range (1204.4×–1541×); dot = today's 1458.3×.

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)

RatioFY2025FY2024FY2023FY2023
Gross margin23.9%24.3%21.1%21.1%
Operating margin8.1%9.1%6.8%6.8%
Net margin5.3%7.2%5.3%5.3%
FCF margin5.1%8.4%2.9%2.9%
Return on assets5.3%7.7%5.5%5.5%
Return on equity9.3%13.0%9.4%9.4%
Debt / equity0.04×0.04×0.04×0.04×
Current ratio1.541.781.831.83

Computed from company filings · GB · as of 2025-08-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.