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.
Dr. Martens plc is a British public limited company renowned for its iconic footwear and accessories brand. Originating from the first '1460' boot crafted on 1 April 1960 in Wollaston, England, the company has grown into one of the world's most recognized footwear brands, symbolizing individual self-expression for a diverse consumer base. Its product segments encompass Originals, Fusion, Kids and Casual lines, alongside boots, shoes, sandals, and complementary bags and accessories, distinguished by air-cushioned soles, unique upper shapes, welted construction, and signature yellow stitching. Dr. Martens plc distributes through e-commerce, retail stores (including 239 owned worldwide), and wholesale channels, operating in over 60 countries across three key regions: EMEA (majority revenue source), Americas, and APAC. With a workforce of approximately 3,700 employees and headquarters in Camden, London, the company maintains limited UK production at its historic Cobbs Lane factory while manufacturing primarily in Asia. As a FTSE 250 constituent listed since January 2021, Dr. Martens plc plays a significant role in the consumer cyclical sector, particularly footwear and accessories, annually selling over 10.5 million pairs and deriving 65% of revenue from direct-to-consumer sales.
£0.72
£0.00 (-0.28%)
EOD Jul 3, 2026
Operating margin is thin at 7.88%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 2.9% YoY. The question is whether this is cyclical or a structural shift.
At 30x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 26% versus the prior year, cash generation momentum has weakened.
29.8x earnings, 5.3x 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)
£765M
▼ -2.9% YoY
Net Income (TTM)
£24M
▲ +428.9% YoY
Op. Margin
7.88%
▲ +2.2pp YoY
ROIC
5.75%
▲ +2.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£131M
▼ -26.4% YoY
Op. Cash Flow (TTM)
£140M
▼ -24.7% YoY
Net Debt
£213M
Cash & Equiv.
£180M
3Y CAGR: -8.6%
3Y CAGR: +83.1%
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At a P/E of 29.8 and a price-to-free-cash-flow of 5.3, Dr. Martens (DOCS.XLON) trades below a two-stage DCF intrinsic value of about £2.13 per share, so at £0.72 the stock looks undervalued (197.7% below 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, Dr. Martens scores 50/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 3.6%; 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 £2.13 per share for DOCS.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 £1.60. At today's £0.72, that puts the stock about 197.7% below 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.
Dr. Martens scores 50 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 7.9% operating margin and a 5.8% 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, Dr. Martens pays a regular dividend of about £0.03 per share per year (typically in quarterly installments), a yield of roughly 3.6% at the current price. That is a payout ratio of about 103.4% of earnings, so the dividend is stretched at this level. Dr. Martens has grown the dividend at roughly 19.2% 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 DOCS.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. DOCS.XLON currently trades below its estimated intrinsic value and scores 50/100 on quality (mixed). It also yields about 3.6%. 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.