Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Applied Nutrition plc is a leading sports nutrition, health, and wellness brand that formulates and manufactures premium nutrition supplements for professional athletes, fitness enthusiasts, gym-goers, and general consumers seeking high-quality dietary support. The company offers four distinct product ranges—Applied Nutrition, All Black Everything (ABE), BodyFuel, and Endurance—covering categories such as protein blends like Critical Whey and ISO-XP, pre-workout formulas including ABE Powder to boost performance and reduce fatigue, grab-and-go options like hydration drinks, and health supplements for muscle recovery, weight management, and overall wellness. Accredited by Informed-Sports and Informed Manufacturer programs, its products are free from WADA-prohibited substances and distributed in over 80 countries worldwide, with sales growing from 11.2 million in 2020 to 86.15 million in 2024, primarily in the UK, Europe, and the rest of the world. Headquartered in Knowsley, UK, with 195 employees, Applied Nutrition plc operates in the health food stores sector, emphasizing innovation, quality manufacturing, and partnerships with sports teams like Rangers F.C. and Fulham F.C. As a FTSE 250 constituent, it plays a key role in the expanding global sports nutrition market.
£3.16
+£0.00 (+0.16%)
EOD Jul 3, 2026
Margins and capital returns are both well above average: 26.24% operating margin, ROIC at 38.81%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 24.2%, still solid.
At 38x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 45.19% to 38.81%, capital efficiency is deteriorating.
37.6x earnings, 54.0x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£107M
▲ +24.2% YoY
Net Income (TTM)
£21M
▲ +12.8% YoY
Op. Margin
26.24%
▼ -1.3pp YoY
ROIC
38.81%
▼ -6.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£15M
▲ +156.1% YoY
Op. Cash Flow (TTM)
£16M
▲ +45.0% YoY
Net Debt
-£16M
Net Cash Position
Cash & Equiv.
£19M
3Y CAGR: +45.1%
3Y CAGR: +33.0%
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At a P/E of 37.6 and a price-to-free-cash-flow of 54.0, Applied Nutrition (APN.XLON) trades above a two-stage DCF intrinsic value of about £3.01 per share, so at £3.16 the stock looks overvalued (4.6% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Applied Nutrition scores 68/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.9%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £3.01 per share for APN.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £2.26. At today's £3.16, that puts the stock about 4.6% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Applied Nutrition scores 68 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 26.2% operating margin and a 38.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Applied Nutrition pays a regular dividend of about £0.06 per share per year (typically in quarterly installments), a yield of roughly 1.9% at the current price. That is a payout ratio of about 69.7% of earnings, so the dividend is covered, with less cushion. Applied Nutrition has grown the dividend at roughly 144.9% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For APN.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. APN.XLON currently trades above its estimated intrinsic value and scores 68/100 on quality (solid). It also yields about 1.9%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.