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Morgan Advanced Materials plc MGAM.L

GB · London Stock Exchange · XLON · stock · Industrials · website

Morgan Advanced Materials plc statistics & valuation

Market cap£656.5M
P / E31.1×
P / S0.7×
P / B2.1×
P / FCF12.9×
Dividend yield5.19%
Net margin2.1%
Return on equity6.7%
FCF margin5.1%
Net debt£281.0M
Enterprise value USD$1.3B
Earnings yield EBIT/EV10%
Return on capital14.4%
Graham number -99.4%£1.39

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 (£1.39); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.90% 4.20% 4.70% 2.10% 2022202320242025
Gross margin (%)
72.70% 72.80% 74.00% 70.30% 2022202320242025
Operating margin (%)
13.00% 10.70% 11.20% 9.40% 2022202320242025
Return on equity (%)
22.60% 13.10% 14.20% 6.70% 2022202320242025
Shares outstanding
276.4M 276.4M 276.4M 276.4M 2022202320242025
Net debt (£)
£204.0M £233.5M £272.9M £281.0M 2022202320242025
Share buybacks (£)
£2.9M £4.7M £8.2M £18.8M 2022202320242025
Return on assets (%)
8.60% 4.60% 4.70% 2.10% 2022202320242025
Free cash flow margin (%)
-3.50% 1.60% 1.60% 5.10% 2022202320242025
Debt / equity (×)
0.82× 0.99× 1.11× 1.14× 2022202320242025
EPS (£)
£0.31 £0.17 £0.17 £0.07 2022202320242025

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

Morgan Advanced Materials plc trades at about 3166.7× earnings — above its 10-year norm (10-year range 1022.8×–3053.3×, median 1642.4×).

1022.8× 3166.7×

Shaded band = 10-year range (1022.8×–3053.3×); dot = today's 3166.7×.

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)

RatioFY2025FY2024FY2023FY2022
Gross margin70.3%74.0%72.8%72.7%
Operating margin9.4%11.2%10.7%13.0%
Net margin2.1%4.7%4.2%7.9%
FCF margin5.1%1.6%1.6%-3.5%
Return on assets2.1%4.7%4.6%8.6%
Return on equity6.7%14.2%13.1%22.6%
Debt / equity0.67×0.95×0.86×0.59×
Current ratio1.231.822.061.75

Computed from company filings · GB · as of 2025-12-31. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.