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.
Frasers Group Plc is a British public limited company operating as a diversified retail, sport, real estate, and intellectual property group. Founded in 1982 by Mike Ashley as a single sports store, it has grown into the United Kingdom's largest sports-goods retailer, primarily through the Sports Direct brand, alongside premium lifestyle fascias like Frasers, Flannels, USC, and Jack Wills. The group retails sports and leisure clothing, footwear, equipment, and apparel via physical stores, multi-fascia retail spaces, department stores, and online platforms, while owning brands such as Everlast, Lonsdale, Slazenger, and Karrimor. It has expanded into fitness clubs with Everlast Fitness, launched the buy-now-pay-later service Frasers Plus in 2023, and aggressively acquired properties including shopping centres like Braehead and outlet parks. Frasers Group Plc also holds stakes in companies like ASOS and Currys, and pursues international growth through acquisitions such as The Webster and Hervis Sports stores. Listed on the London Stock Exchange and part of the FTSE 250 Index, it employs over 32,000 people and shapes the consumer cyclical specialty retail sector with a low-margin business model.
£7.57
£0.00 (-0.07%)
EOD Jul 3, 2026
10.84% operating margin is respectable but not wide. ROIC at 11.24%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 7.4% YoY. The question is whether this is cyclical or a structural shift.
Even for strong businesses, today's 11x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
11.2x earnings, 6.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£4.93B
▼ -7.4% YoY
Net Income (TTM)
£293M
▼ -24.2% YoY
Op. Margin
10.84%
▲ +1.2pp YoY
ROIC
11.24%
▼ -1.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£532M
▲ +28.1% YoY
Op. Cash Flow (TTM)
£859M
▲ +34.1% YoY
Net Debt
£1.61B
Cash & Equiv.
£252M
3Y CAGR: +1.6%
3Y CAGR: +21.3%
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At a P/E of 11.2 and a price-to-free-cash-flow of 6.2, Frasers Group (FRAS.XLON) trades below a two-stage DCF intrinsic value of about £35.57 per share, so at £7.57 the stock looks undervalued (369.9% 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, Frasers Group scores 58/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. 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 £35.57 per share for FRAS.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 £26.68. At today's £7.57, that puts the stock about 369.9% 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.
Frasers Group scores 58 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 10.8% operating margin and a 11.2% 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.
That depends on valuation and quality together, not either alone. FRAS.XLON currently trades below its estimated intrinsic value and scores 58/100 on quality (mixed). 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.