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Tesco PLC TSCO.L

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

Tesco PLC statistics & valuation

Market cap£28.7B
P / E16.1×
P / S0.4×
P / B2.5×
P / FCF12.8×
Dividend yield3.27%
Net margin2.4%
Return on equity15.6%
FCF margin3.0%
Net debt£12.6B
Enterprise value USD$55.7B
Earnings yield EBIT/EV7.5%
Return on capital12.3%
Graham number -99.3%£3.35

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 (£3.35); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
1.10% 1.70% 2.30% 2.40% 2023202420252026
Gross margin (%)
5.10% 7.10% 7.20% 7.50% 2023202420252026
Operating margin (%)
2.30% 4.10% 4.00% 4.20% 2023202420252026
Return on equity (%)
6.00% 10.20% 13.90% 15.60% 2023202420252026
Shares outstanding
6.23B 6.23B 6.23B 6.23B 2023202420252026
Net debt (£)
£12.70B £12.53B £12.44B £12.59B 2023202420252026
Share buybacks (£)
£867.0M £845.0M £1.07B £1.54B 2023202420252026
Return on assets (%)
1.60% 2.50% 4.20% 4.50% 2023202420252026
Free cash flow margin (%)
3.80% 3.60% 2.00% 3.00% 2023202420252026
Debt / equity (×)
1.23× 1.27× 1.26× 1.32× 2023202420252026
EPS (£)
£0.10 £0.17 £0.24 £0.27 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

Tesco PLC trades at about 1700× earnings — near its 10-year norm (10-year range 1413.4×–2667.7×, median 1791.1×).

1413.4× 2667.7×

Shaded band = 10-year range (1413.4×–2667.7×); dot = today's 1700×.

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 margin7.5%7.2%7.1%5.1%
Operating margin4.2%4.0%4.1%2.3%
Net margin2.4%2.3%1.7%1.1%
FCF margin3.0%2.0%3.6%3.8%
Return on assets4.5%4.2%2.5%1.6%
Return on equity15.6%13.9%10.2%6.0%
Debt / equity0.47×0.44×0.49×0.46×
Current ratio0.590.640.810.71

Computed from company filings · GB · as of 2026-02-28. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.