Stocktoria

Spirax Group plc SPX.L

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

Spirax Group plc statistics & valuation

Market cap£5.3B
P / E32.2×
P / S3.1×
P / B4.3×
P / FCF23.1×
Dividend yield2.33%
Net margin9.6%
Return on equity13.4%
FCF margin13.4%
Net debt£654.9M
Enterprise value USD$8.0B
Earnings yield EBIT/EV4.5%
Return on capital12.7%
Graham number -99.6%£28.71

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 (£28.71); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
14.00% 10.90% 11.50% 9.60% 2022202320242025
Gross margin (%)
76.10% 76.10% 76.20% 76.80% 2022202320242025
Operating margin (%)
19.70% 16.90% 18.30% 15.60% 2022202320242025
Return on equity (%)
19.20% 15.90% 15.80% 13.40% 2022202320242025
Shares outstanding
73.8M 73.8M 73.8M 73.8M 2022202320242025
Net debt (£)
£755.6M £763.4M £691.3M £654.9M 2022202320242025
Share buybacks (£)
2022202320242025
Return on assets (%)
8.10% 6.80% 7.20% 6.10% 2022202320242025
Free cash flow margin (%)
7.70% 11.50% 13.20% 13.40% 2022202320242025
Debt / equity (×)
0.93× 0.97× 0.85× 0.84× 2022202320242025
EPS (£)
£3.04 £2.49 £2.59 £2.21 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

Spirax Group plc trades at about 3225.6× earnings — below its 10-year norm (10-year range 3126.7×–4019.7×, median 3787.8×).

3126.7× 4019.7×

Shaded band = 10-year range (3126.7×–4019.7×); dot = today's 3225.6×.

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 margin76.8%76.2%76.1%76.1%
Operating margin15.6%18.3%16.9%19.7%
Net margin9.6%11.5%10.9%14.0%
FCF margin13.4%13.2%11.5%7.7%
Return on assets6.1%7.2%6.8%8.1%
Return on equity13.4%15.8%15.9%19.2%
Debt / equity0.57×0.58×0.76×0.63×
Current ratio1.851.852.261.65

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