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Crest Nicholson Holdings

Operational Transformation And A Robust Landbank Will Shape Future Value

Published
05 Sep 25
Updated
03 Dec 25
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AnalystConsensusTarget's Fair Value
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1Y
-23.9%
7D
-5.7%

Author's Valuation

UK£1.9333.1% undervalued intrinsic discount

AnalystConsensusTarget Fair Value

Narrative
Updates1

Shared on 03 Dec 25

Fair value Decreased 8.91%

CRST: Future Re Rating Potentially Emerging Despite Recent Index Removals

Analysts have trimmed their price target on Crest Nicholson Holdings to reflect slightly lower fair value estimates and more conservative assumptions for revenue growth and profit margins, while still allowing for a modest re rating in the future price to earnings multiple. What's in the News Crest Nicholson Holdings plc has been removed from the FTSE 350 Index, signaling a diminished market capitalization standing relative to UK large and mid cap peers (Key Developments) The company has also been dropped from the FTSE 250 Index, further highlighting its exit from a key UK mid cap benchmark tracked by many institutional investors (Key Developments) Crest Nicholson has been removed from the FTSE 250 (Ex Investment Companies) Index, potentially reducing passive fund ownership focused on non investment company constituents (Key Developments) The group has been deleted from the FTSE 350 (Ex Investment Companies) Index, underscoring broad index level pressure on the stock across the FTSE family (Key Developments) Valuation Changes Fair Value Estimate: reduced modestly from £2.12 to £1.93 per share, reflecting a slightly more cautious outlook Discount Rate: increased slightly from 9.7% to just over 10.1%, implying a marginally higher required return from investors Revenue Growth: lowered significantly from about 7.6% to roughly 4.9% annually, indicating more conservative top line expectations Net Profit Margin: trimmed moderately from around 8.0% to just over 7.1%, signalling a somewhat weaker profitability profile Future P/E: raised from approximately 11.7x to 13.2x, allowing for a modest re rating despite softer fundamental assumptions
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