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.
Forterra plc is a leading UK manufacturer of essential clay and concrete building products, serving the construction industry through its three core segments: Bricks, Blocks, and Bespoke Products. As the UK's second-largest brick producer, it operates nine brick plants with an annual capacity of 690 million bricks, alongside production of energy-efficient concrete blocks like the Thermalite range and high-margin Fletton bricks historically used in a quarter of England's post-WW2 housing stock. The Blocks segment supplies dense and lightweight blocks plus permeable paving, while Bespoke Products offers customized precast concrete under the Bison Precast brand, chimney solutions, roofing, and innovative offsite walling systems using Design for Manufacture and Assembly approaches. With 15 manufacturing sites and approximately 1,600 employees, Forterra plc supports volume housebuilders, commercial projects, and infrastructure like HS2. Originally Hanson Building Products, it rebranded in 2016 following its London Stock Exchange listing, emphasizing efficiency, sustainability through durable thermal mass products, and market positions in a consolidated industry dominated by few key players.
£1.38
+£0.01 (+1.02%)
EOD Jul 3, 2026
Operating margin is thin at 9.46%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 12.1%, still solid.
Even for strong businesses, today's 17x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
17.3x earnings, 6.6x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£386M
▲ +12.1% YoY
Net Income (TTM)
£17M
▼ -2.9% YoY
Op. Margin
9.46%
▲ +1.7pp YoY
ROIC
8.04%
▲ +2.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£45M
▲ +168.1% YoY
Op. Cash Flow (TTM)
£51M
▲ +20.4% YoY
Net Debt
£76M
Cash & Equiv.
£6M
3Y CAGR: -5.4%
3Y CAGR: +12.2%
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At a P/E of 17.3 and a price-to-free-cash-flow of 6.6, Forterra (FORT.XLON) trades below a two-stage DCF intrinsic value of about £4.30 per share, so at £1.38 the stock looks undervalued (210.6% 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, Forterra scores 57/100 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 2.8%; 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 £4.30 per share for FORT.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 £3.22. At today's £1.38, that puts the stock about 210.6% 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.
Forterra scores 57 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 9.5% operating margin and a 8.0% 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, Forterra pays a regular dividend of about £0.04 per share per year (typically in quarterly installments), a yield of roughly 2.8% at the current price. That is a payout ratio of about 48.2% of earnings, so the dividend is well covered. 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 FORT.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. FORT.XLON currently trades below its estimated intrinsic value and scores 57/100 on quality (mixed). It also yields about 2.8%. 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.