Marlowe plc

AIM:MRL Stock Report

Market Cap: UK£271.3m

Marlowe Valuation

Is MRL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MRL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MRL (£3.2) is trading below our estimate of fair value (£7.03)

Significantly Below Fair Value: MRL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MRL?

Key metric: As MRL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MRL. This is calculated by dividing MRL's market cap by their current revenue.
What is MRL's PS Ratio?
PS Ratio0.7x
SalesUK£408.30m
Market CapUK£271.34m

Price to Sales Ratio vs Peers

How does MRL's PS Ratio compare to its peers?

The above table shows the PS ratio for MRL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.9x
RCDO Ricardo
0.6x4.1%UK£256.9m
DWF DWF Group
0.7x2.6%UK£316.4m
FNTL Fintel
4.3x8.0%UK£299.0m
SAG Science Group
1.9x1.6%UK£207.9m
MRL Marlowe
0.7x-3.8%UK£271.3m

Price-To-Sales vs Peers: MRL is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does MRL's PS Ratio compare vs other companies in the GB Professional Services Industry?

12 CompaniesPrice / SalesEstimated GrowthMarket Cap
HAS Hays
0.2x0.4%US$1.57b
IPEL Impellam Group
0.2xn/aUS$489.91m
STEM SThree
0.2x-3.6%US$442.71m
CPI Capita
0.1x-0.2%US$320.14m
MRL 0.7xIndustry Avg. 0.8xNo. of Companies12PS012345+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MRL is good value based on its Price-To-Sales Ratio (0.7x) compared to the UK Professional Services industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is MRL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MRL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: MRL is expensive based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MRL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.20
UK£3.92
+22.6%
9.5%UK£4.50UK£3.24n/a6
Dec ’25UK£3.24
UK£4.47
+38.0%
27.6%UK£7.10UK£3.24n/a6
Nov ’25UK£3.50
UK£4.43
+26.5%
25.9%UK£7.10UK£3.24n/a7
Oct ’25UK£3.28
UK£4.43
+35.0%
25.9%UK£7.10UK£3.24n/a7
Sep ’25UK£4.46
UK£6.59
+47.8%
15.1%UK£7.75UK£4.74n/a7
Aug ’25UK£4.36
UK£6.81
+56.1%
14.8%UK£7.75UK£4.74n/a7
Jul ’25UK£4.28
UK£6.98
+63.1%
13.7%UK£7.75UK£4.74n/a7
Jun ’25UK£5.58
UK£6.95
+24.5%
14.8%UK£7.75UK£4.53n/a7
May ’25UK£5.00
UK£6.95
+39.1%
16.4%UK£8.29UK£4.53n/a7
Apr ’25UK£5.20
UK£6.84
+31.5%
17.3%UK£8.29UK£4.53n/a6
Mar ’25UK£4.97
UK£6.92
+39.2%
18.0%UK£8.17UK£4.53n/a5
Feb ’25UK£3.70
UK£8.62
+132.9%
24.5%UK£11.00UK£4.53n/a6
Jan ’25UK£4.30
UK£8.62
+100.4%
24.5%UK£11.00UK£4.53n/a6
Dec ’24UK£3.57
UK£8.62
+141.4%
24.5%UK£11.00UK£4.53UK£3.246
Nov ’24UK£5.34
UK£9.21
+72.4%
16.8%UK£11.90UK£7.90UK£3.505
Oct ’24UK£5.84
UK£9.21
+57.6%
16.8%UK£11.90UK£7.90UK£3.285
Sep ’24UK£6.00
UK£9.21
+53.4%
16.8%UK£11.90UK£7.90UK£4.465
Aug ’24UK£5.70
UK£9.21
+61.5%
16.8%UK£11.90UK£7.90UK£4.365
Jul ’24UK£5.60
UK£9.25
+65.2%
16.7%UK£11.90UK£7.64UK£4.285
Jun ’24UK£5.18
UK£10.56
+103.8%
12.1%UK£11.90UK£8.73UK£5.584
May ’24UK£5.04
UK£10.56
+109.5%
12.1%UK£11.90UK£8.73UK£5.004
Apr ’24UK£5.80
UK£10.93
+88.4%
12.5%UK£12.40UK£8.73UK£5.205
Mar ’24UK£4.78
UK£10.93
+128.6%
12.5%UK£12.40UK£8.73UK£4.975
Feb ’24UK£5.02
UK£10.93
+117.6%
12.5%UK£12.40UK£8.73UK£3.705
Jan ’24UK£4.70
UK£10.77
+129.2%
12.0%UK£12.40UK£8.73UK£4.306
Dec ’23UK£4.84
UK£10.77
+122.6%
12.0%UK£12.40UK£8.73UK£3.576

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 18:43
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Marlowe plc is covered by 12 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Calum BattersbyBerenberg
James FletcherBerenberg
Peter RentonCavendish