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.
Mitchells & Butlers plc is a leading operator of managed pubs and restaurants in the United Kingdom. The company manages a diverse portfolio of branded venues, including popular chains such as Harvester, All Bar One, Miller & Carter, and Vintage Inns, alongside community pubs and high-street restaurants. These establishments offer a wide variety of dining and drinking experiences, from family-friendly grill restaurants and steakhouses to stylish city-center bars and traditional local pubs. Mitchells & Butlers plc focuses on delivering quality food, drinks, and hospitality services across its sites, which are strategically located in prime high streets, retail parks, and leisure destinations throughout the UK. The business emphasizes operational efficiency and customer experience in the competitive hospitality sector, serving millions of guests annually with fresh, seasonal menus and an extensive selection of beers, wines, and cocktails. Founded in 1898 and headquartered in Birmingham, England, Mitchells & Butlers plc plays a significant role in the UK's eating and drinking out market, contributing to the vibrancy of social and leisure activities.
£2.55
+£0.02 (+0.59%)
EOD Jul 3, 2026
12.17% operating margin is respectable but not wide. ROIC at 5.76%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 3.9%, steady but not accelerating. Free cash flow declined 19% despite revenue growth, conversion is weakening.
Free cash flow declined 19% versus the prior year, cash generation momentum has weakened. Net debt of £1.29B represents 6.9x FCF, leverage limits flexibility.
8.6x earnings, 8.1x 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)
£2.71B
▲ +3.9% YoY
Net Income (TTM)
£177M
▲ +18.8% YoY
Op. Margin
12.17%
▲ +0.2pp YoY
ROIC
5.76%
Cash Flow & Balance Sheet
FCF (TTM)
£187M
▼ -19.4% YoY
Op. Cash Flow (TTM)
£348M
▼ -0.6% YoY
Net Debt
£1.29B
Cash & Equiv.
£216M
3Y CAGR: +7.1%
3Y CAGR: +17.3%
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At a P/E of 8.6 and a price-to-free-cash-flow of 8.1, Mitchells & Butlers (MAB.XLON) trades below a two-stage DCF intrinsic value of about £8.19 per share, so at £2.55 the stock looks undervalued (221.6% 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, Mitchells & Butlers scores 72/100 on Intrinsiqq's quality scorecard (a solid 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 £8.19 per share for MAB.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 £6.14. At today's £2.55, that puts the stock about 221.6% 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.
Mitchells & Butlers scores 72 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 12.2% 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.
That depends on valuation and quality together, not either alone. MAB.XLON currently trades below its estimated intrinsic value and scores 72/100 on quality (solid). 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.