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.
/
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.
Stelrad Group PLC is a leading specialist manufacturer and distributor of radiators in Europe. The company produces a wide range of hydronic, hybrid, dual fuel, and electrical heat emitters, including standard and premium steel panel radiators, low surface temperature radiators, towel warmers, decorative steel tubular radiators, steel multicolumn radiators, and aluminium radiators. It operates under a multi-brand strategy with established brands such as Stelrad, the premier brand sold worldwide; Henrad, prominent in the Netherlands, Belgium, UK, and France; Termo Teknik; DL Radiators; and Hudevad. These brands enable tailored products for specific channels and markets, serving over 500 customers across approximately 40 countries. Stelrad Group PLC maintains manufacturing and distribution facilities in the United Kingdom, the Netherlands, Turkey, and Italy, with additional distribution in Poland and Denmark, and sales personnel in five other countries. Headquartered in Newcastle upon Tyne, United Kingdom, the company focuses on the heating sector, providing solutions for residential, commercial, and specialized applications like bathrooms and low surface temperature needs.
£1.50
£0.05 (-3.23%)
EOD Jul 3, 2026
10.66% operating margin is respectable but not wide. ROIC at 10.90%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 3.8% YoY. The question is whether this is cyclical or a structural shift.
At 226x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 14.95% to 10.90%, capital efficiency is deteriorating.
226.3x earnings, 6.6x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£280M
▼ -3.8% YoY
Net Income (TTM)
£844K
▼ -94.9% YoY
Op. Margin
10.66%
▲ +0.1pp YoY
ROIC
10.90%
▼ -4.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£29M
▲ +48.5% YoY
Op. Cash Flow (TTM)
£37M
▲ +26.3% YoY
Net Debt
£58M
Cash & Equiv.
£19M
3Y CAGR: -4.0%
3Y CAGR: +19.9%
Continue Research
At a P/E of 226.3 and a price-to-free-cash-flow of 6.6, Stelrad Group (SRAD.XLON) trades below a two-stage DCF intrinsic value of about £9.57 per share, so at £1.50 the stock looks undervalued (537.9% 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, Stelrad Group scores 62/100 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 5.2%; 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 £9.57 per share for SRAD.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 £7.18. At today's £1.50, that puts the stock about 537.9% 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.
Stelrad Group scores 62 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 10.7% operating margin and a 10.9% 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, Stelrad Group pays a regular dividend of about £0.08 per share per year (typically in quarterly installments), a yield of roughly 5.2% at the current price. That is a payout ratio of about 1,184.6% of earnings, so the dividend is stretched at this level. Stelrad Group has grown the dividend at roughly 26.5% 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 SRAD.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. SRAD.XLON currently trades below its estimated intrinsic value and scores 62/100 on quality (solid). It also yields about 5.2%. 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.