Dr. Martens Future Growth
Future criteria checks 3/6
Dr. Martens is forecast to grow earnings and revenue by 43.4% and 4.1% per annum respectively. EPS is expected to grow by 44% per annum. Return on equity is forecast to be 14% in 3 years.
Key information
43.4%
Earnings growth rate
43.97%
EPS growth rate
| Luxury earnings growth | 12.6% |
| Revenue growth rate | 4.1% |
| Future return on equity | 13.99% |
| Analyst coverage | Low |
| Last updated | 08 May 2026 |
Recent future growth updates
Recent updates
Narrative Update • Apr 28
DOCS: Future Returns Will Rely On Profit Focus And Stable Long Term Assumptions
Analysts have adjusted their price targets on Dr. Martens upward to £1.41, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E that are broadly in line with previous estimates but fine tuned to current views. Valuation Changes Fair Value: Modelled fair value remains at £1.41, with no change from the previous estimate.Narrative Update • Apr 11
DOCS: Future Returns Will Rely On Profit Focus And Flat 2026 Revenue
Analysts have trimmed their price target on Dr. Martens to £1.41 from £1.41. They point to slightly higher assumed discount rates and modestly different revenue growth and profit margin expectations that keep the overall valuation level broadly unchanged.Narrative Update • Mar 27
DOCS: Future Returns Will Rely On Profit Focus And Flat 2026 Revenue
Analysts have trimmed their fair value assumptions slightly, nudging the implied P/E closer to £19.95 and reflecting small updates to discount rate, revenue growth and profit margin expectations for Dr. Martens. What's in the News Issued earnings guidance for fiscal 2026 with revenue expected to be broadly flat on a constant currency basis as the company focuses on the quality of revenue and profitability (company guidance).Narrative Update • Mar 13
DOCS: Future Returns Will Depend On Profit-Led Flat Revenue Guidance In 2026
Analysts have nudged their price target for Dr. Martens higher to £1.41, citing modest adjustments to assumptions about the discount rate, revenue, profit margin and future P/E in their updated models. What's in the News Dr. Martens issued earnings guidance for fiscal 2026, indicating that revenue on a constant currency basis is expected to be broadly flat as the company focuses on the quality of revenue and profitability (company guidance).Narrative Update • Feb 27
DOCS: Future Returns Will Depend On Prioritising Profitability Over Near Term Revenue Expansion
Analysts have lifted their price target for Dr. Martens to £1.41, reflecting slightly revised assumptions for discount rate, revenue growth, profit margin and future P/E that collectively point to a modestly improved risk and earnings profile. What's in the News Dr. Martens issued earnings guidance for fiscal 2026, indicating that revenue on a constant currency basis is expected to be broadly flat as the company focuses on the quality of revenue and profitability (company guidance).Analysis Article • Feb 12
Dr. Martens' (LON:DOCS) Dividend Will Be £0.0085
Dr. Martens plc ( LON:DOCS ) has announced that it will pay a dividend of £0.0085 per share on the 9th of April. This...Narrative Update • Feb 10
DOCS: Future Returns Will Depend On Expanding Reclaimed Leather Sustainability Collaboration
Analysts have adjusted their price targets for Dr. Martens modestly, reflecting revised assumptions around the discount rate, expected revenue growth, profit margins and a higher future P/E multiple, which together temper the valuation outlook while still supporting a measured premium on earnings. What's in the News Dr. Martens and materials company Gen Phoenix are marking four consecutive seasons of collaboration, extending their work with reclaimed leather under the Genix Nappa line.Narrative Update • Jan 26
DOCS: Future Returns Will Rely On Reclaimed Leather Sustainability Partnership
Analysts have adjusted their price targets for Dr. Martens, reflecting updated assumptions around discount rates, revenue growth, profit margins and a lower future P/E multiple. Taken together, these factors point to a revised view of the shares' potential value, even though the fair value estimate remains at £1.41.
Narrative Update • Jan 11
DOCS: Future Returns Will Rely On Margins And Long Term Sustainability Partnership
Analysts have made a modest trim to their price target on Dr. Martens, reflecting slightly adjusted assumptions around discount rates, revenue growth, profit margins and future P/E, while still seeing the shares as aligned with an updated fair value of 0.8x. What's in the News Dr. Martens and Gen Phoenix mark four consecutive seasons of working together on reclaimed leather products under the Genix Nappa line, highlighting a multi year partnership rather than a short pilot or capsule approach (Key Developments).Narrative Update • Dec 26
DOCS: Future Returns Will Depend On Margin Execution And Sustainability Delivery
Analysts have modestly adjusted their price target on Dr. Martens to 75 GBp, reflecting slightly higher long term revenue growth and profit margin assumptions while maintaining a broadly Neutral stance. Analyst Commentary Analyst commentary around Dr. Martens has remained measured, with the latest work reiterating a Neutral stance and a 75 GBp price target, signaling limited upside in the near term.Narrative Update • Dec 12
DOCS: Modest Upside Outlook Will Hinge On Margin Recovery And Sustainability Expansion
The analyst price target for Dr. Martens has been modestly raised to £0.80 from £0.75, as analysts factor in slightly stronger expectations for revenue growth, profit margins, and future earnings multiples, while still maintaining a cautious overall stance. Analyst Commentary Recent Street research has reinforced a measured stance on Dr. Martens, with coverage reinstated at a neutral rating and a price target that sits below longer term historical trading levels.Analysis Article • Dec 01
Shareholders Should Be Pleased With Dr. Martens plc's (LON:DOCS) Price
Dr. Martens plc's ( LON:DOCS ) price-to-earnings (or "P/E") ratio of 48.9x might make it look like a strong sell right...Analysis Article • Nov 04
Dr. Martens plc's (LON:DOCS) Intrinsic Value Is Potentially 26% Above Its Share Price
Key Insights The projected fair value for Dr. Martens is UK£1.13 based on 2 Stage Free Cash Flow to Equity Dr. Martens...
Narrative Update • Oct 08
Cost Savings Ahead Of Schedule Will Improve Profitability By FY '26
Analysts have raised their price target on Dr. Martens from £0.80 to £1.12 per share, citing expectations that 2025 will mark a turning point for the company and stating that market valuations do not yet reflect its long-term growth potential. Analyst Commentary Market watchers have offered mixed insights following the recent upgrade and price target increase for Dr. Martens.Analysis Article • Aug 26
Returns On Capital Signal Tricky Times Ahead For Dr. Martens (LON:DOCS)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...Narrative Update • Aug 19
Cost Savings Ahead Of Schedule Will Improve Profitability By FY '26
Despite a notable downgrade in forecast revenue growth and a higher projected future P/E, analysts have nonetheless raised Dr. Martens’ consensus price target from £0.898 to £0.952. What's in the News The Board of Dr. Martens proposed a final dividend of 1.70 pence, maintaining the total dividend for fiscal year 2025 at 2.55 pence, equal to the prior year, pending shareholder approval.Analysis Article • Aug 05
Is Dr. Martens plc (LON:DOCS) Trading At A 29% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Dr. Martens fair value estimate is UK£1.09 Dr. Martens...Analysis Article • Jun 18
Dr. Martens (LON:DOCS) Has Announced That It Will Be Increasing Its Dividend To £0.017
Dr. Martens plc's ( LON:DOCS ) dividend will be increasing from last year's payment of the same period to £0.017 on 8th...Analysis Article • Jun 15
Some Investors May Be Willing To Look Past Dr. Martens' (LON:DOCS) Soft Earnings
Dr. Martens plc's ( LON:DOCS ) stock was strong despite it releasing a soft earnings report last week. Our analysis...Analysis Article • Apr 15
Dr. Martens (LON:DOCS) May Have Issues Allocating Its Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
New Narrative • Mar 14
Cost Savings Ahead Of Schedule Will Improve Profitability By FY '26
Strategic focus on premium positioning, demand planning, and cost reductions aims to enhance revenue, margins, and profitability.Analysis Article • Dec 06
Earnings Tell The Story For Dr. Martens plc (LON:DOCS) As Its Stock Soars 27%
Dr. Martens plc ( LON:DOCS ) shareholders would be excited to see that the share price has had a great month, posting a...Analysis Article • Dec 01
Dr. Martens plc (LON:DOCS) Half-Yearly Results: Here's What Analysts Are Forecasting For This Year
The investors in Dr. Martens plc 's ( LON:DOCS ) will be rubbing their hands together with glee today, after the share...Analysis Article • Sep 21
Benign Growth For Dr. Martens plc (LON:DOCS) Underpins Stock's 30% Plummet
The Dr. Martens plc ( LON:DOCS ) share price has fared very poorly over the last month, falling by a substantial 30...Analysis Article • Aug 20
Is There An Opportunity With Dr. Martens plc's (LON:DOCS) 45% Undervaluation?
Key Insights Dr. Martens' estimated fair value is UK£1.31 based on 2 Stage Free Cash Flow to Equity Dr. Martens...Analysis Article • Jul 20
Dr. Martens (LON:DOCS) Has Some Way To Go To Become A Multi-Bagger
What are the early trends we should look for to identify a stock that could multiply in value over the long term...Analysis Article • Jun 19
There May Be Some Bright Spots In Dr. Martens' (LON:DOCS) Earnings
The market was pleased with the recent earnings report from Dr. Martens plc ( LON:DOCS ), despite the profit numbers...Analysis Article • May 21
Dr. Martens plc's (LON:DOCS) Price Is Right But Growth Is Lacking After Shares Rocket 27%
Dr. Martens plc ( LON:DOCS ) shareholders are no doubt pleased to see that the share price has bounced 27% in the last...Analysis Article • Mar 27
The Trend Of High Returns At Dr. Martens (LON:DOCS) Has Us Very Interested
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...Analysis Article • Mar 06
Dr. Martens (LON:DOCS) Has A Somewhat Strained Balance Sheet
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Feb 08
Dr. Martens plc's (LON:DOCS) Intrinsic Value Is Potentially 57% Above Its Share Price
Key Insights The projected fair value for Dr. Martens is UK£1.32 based on 2 Stage Free Cash Flow to Equity Dr. Martens...Analysis Article • Jan 21
Dr. Martens plc's (LON:DOCS) Business And Shares Still Trailing The Market
With a price-to-earnings (or "P/E") ratio of 6.9x Dr. Martens plc ( LON:DOCS ) may be sending very bullish signals at...Analysis Article • Jan 03
Dr. Martens' (LON:DOCS) Dividend Will Be £0.0156
Dr. Martens plc ( LON:DOCS ) has announced that it will pay a dividend of £0.0156 per share on the 2nd of February...Analysis Article • Dec 13
Dr. Martens (LON:DOCS) Will Pay A Dividend Of £0.0156
Dr. Martens plc's ( LON:DOCS ) investors are due to receive a payment of £0.0156 per share on 2nd of February. This...Analysis Article • Oct 12
Dr. Martens (LON:DOCS) Is Very Good At Capital Allocation
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Sep 13
Calculating The Intrinsic Value Of Dr. Martens plc (LON:DOCS)
Key Insights Dr. Martens' estimated fair value is UK£1.88 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • Jul 12
Returns on Capital Paint A Bright Future For Dr. Martens (LON:DOCS)
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 3/31/2029 | 890 | N/A | N/A | N/A | 1 |
| 3/31/2028 | 849 | 62 | 75 | 136 | 5 |
| 3/31/2027 | 810 | 51 | 68 | 128 | 5 |
| 3/31/2026 | 770 | 36 | 62 | 127 | 5 |
| 9/28/2025 | 785 | 15 | 140 | 154 | N/A |
| 6/28/2025 | 786 | 10 | 159 | 175 | N/A |
| 3/30/2025 | 788 | 5 | 178 | 196 | N/A |
| 12/30/2024 | 797 | 17 | 191 | 212 | N/A |
| 9/29/2024 | 806 | 29 | 204 | 227 | N/A |
| 6/29/2024 | 842 | 49 | 172 | 197 | N/A |
| 3/31/2024 | 877 | 69 | 140 | 168 | N/A |
| 12/31/2023 | 927 | 86 | 82 | 120 | N/A |
| 9/30/2023 | 978 | 103 | 24 | 72 | N/A |
| 6/30/2023 | 989 | 116 | 22 | 72 | N/A |
| 3/31/2023 | 1,000 | 129 | 21 | 73 | N/A |
| 12/31/2022 | 979 | 153 | 62 | 105 | N/A |
| 9/30/2022 | 957 | 177 | 104 | 138 | N/A |
| 6/30/2022 | 933 | 179 | 132 | 161 | N/A |
| 3/31/2022 | 908 | 181 | 159 | 184 | N/A |
| 12/31/2021 | 867 | 118 | 129 | 151 | N/A |
| 9/30/2021 | 825 | 54 | 98 | 117 | N/A |
| 6/30/2021 | 799 | 44 | 120 | 138 | N/A |
| 3/31/2021 | 773 | 35 | 142 | 159 | N/A |
| 12/31/2020 | 747 | 61 | 156 | 175 | N/A |
| 9/30/2020 | 722 | 87 | 169 | 190 | N/A |
| 6/30/2020 | 697 | 81 | 134 | 156 | N/A |
| 3/31/2020 | 672 | 75 | 100 | 121 | N/A |
| 3/31/2019 | 454 | 17 | N/A | 56 | N/A |
| 3/31/2018 | 349 | -6 | N/A | 46 | N/A |
| 3/31/2017 | 291 | -11 | N/A | 34 | N/A |
| 3/31/2016 | 232 | -12 | N/A | 26 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DOCS's forecast earnings growth (43.4% per year) is above the savings rate (3.4%).
Earnings vs Market: DOCS's earnings (43.4% per year) are forecast to grow faster than the UK market (12.2% per year).
High Growth Earnings: DOCS's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: DOCS's revenue (4.1% per year) is forecast to grow slower than the UK market (4.4% per year).
High Growth Revenue: DOCS's revenue (4.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DOCS's Return on Equity is forecast to be low in 3 years time (14%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/11 20:04 |
| End of Day Share Price | 2026/05/11 00:00 |
| Earnings | 2025/09/28 |
| Annual Earnings | 2025/03/30 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
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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 Github.
Analyst Sources
Dr. Martens plc is covered by 13 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Richard Taylor | Barclays |
| Anne Critchlow | Berenberg |
| David Roux | BofA Global Research |