Hargreaves Lansdown plc

LSE:HL. Stock Report

Market Cap: UK£5.3b

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This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Hargreaves Lansdown Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

UK£11.99
Fair Value
7.5% undervalued intrinsic discount
7
Number of Analysts

Below Fair Value: HL. (£11.09) is trading below our estimate of fair value (£11.99)

Significantly Below Fair Value: HL. is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As HL. is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HL.. This is calculated by dividing HL.'s market cap by their current earnings.
What is HL.'s PE Ratio?
PE Ratio17.9x
EarningsUK£293.20m
Market CapUK£5.26b

Price to Earnings Ratio vs Peers

How does HL.'s PE Ratio compare to its peers?

The above table shows the PE ratio for HL. vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.8x
ICG ICG
12.3x8.64%UK£5.5b
SDR Schroders
16.6x16.96%UK£5.9b
BPT Bridgepoint Group
43x36.46%UK£2.5b
RCP RIT Capital Partners
11.2xn/aUK£3.0b
HL. Hargreaves Lansdown
17.9x0.98%UK£5.3b

Price-To-Earnings vs Peers: HL. is good value based on its Price-To-Earnings Ratio (17.9x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

How does HL.'s PE Ratio compare vs other companies in the GB Capital Markets Industry?

10 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CGEO Georgia Capital
1.7xn/aUS$1.06b
BPM B.P. Marsh & Partners
2.3xn/aUS$316.37m
SIHL Symphony International Holdings
2.5xn/aUS$178.65m
TAVI Tavistock Investments
2.9xn/aUS$25.47m
HL. 17.9xIndustry Avg. 14.3xNo. of Companies12PE01224364860+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HL. is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the UK Capital Markets industry average (11.9x).

Price to Earnings Ratio vs Fair Ratio

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

HL. PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.9x
Fair PE Ratio14.1x

Price-To-Earnings vs Fair Ratio: HL. is expensive based on its Price-To-Earnings Ratio (17.9x) compared to the estimated Fair Price-To-Earnings Ratio (14.1x).

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 HL. forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Oct ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Sep ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Aug ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Jul ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Jun ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
May ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Apr ’26n/a
UK£11.23
0%
1.32%UK£11.40UK£11.10n/a7
Mar ’26UK£11.05
UK£11.08
+0.30%
5.27%UK£11.40UK£9.38n/a10
Feb ’26UK£11.03
UK£11.08
+0.48%
5.27%UK£11.40UK£9.38n/a10
Jan ’26UK£10.98
UK£11.29
+2.83%
7.73%UK£13.42UK£9.38n/a11
Dec ’25UK£10.94
UK£11.29
+3.25%
7.73%UK£13.42UK£9.38n/a11
Nov ’25UK£10.88
UK£11.23
+3.17%
7.70%UK£13.42UK£9.38n/a12
Oct ’25UK£11.12
UK£10.83
-2.56%
12.20%UK£13.42UK£7.60n/a13
Sep ’25UK£11.11
UK£10.78
-2.96%
13.44%UK£13.42UK£6.95n/a13
Aug ’25UK£10.96
UK£10.19
-6.94%
20.09%UK£13.42UK£6.85n/a14
Jul ’25UK£11.27
UK£9.84
-12.71%
22.33%UK£13.42UK£6.30n/a14
Jun ’25UK£10.56
UK£9.36
-11.32%
25.09%UK£15.00UK£6.30n/a17
May ’25UK£8.09
UK£9.31
+14.97%
26.20%UK£15.00UK£6.20n/a17
Apr ’25UK£7.36
UK£9.22
+25.23%
27.51%UK£15.00UK£6.00n/a18
Mar ’25UK£7.38
UK£9.22
+24.85%
27.51%UK£15.00UK£6.00UK£11.0518
Feb ’25UK£7.58
UK£9.63
+26.97%
32.17%UK£17.00UK£6.00UK£11.0318
Jan ’25UK£7.34
UK£9.64
+31.27%
32.51%UK£17.00UK£6.00UK£10.9818
Dec ’24UK£7.12
UK£9.66
+35.57%
32.24%UK£17.00UK£6.00UK£10.9418
Nov ’24UK£7.10
UK£9.97
+40.30%
30.09%UK£17.00UK£6.00UK£10.8817
UK£0
Fair Value
1.3% undervalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/25 16:52
End of Day Share Price 2025/03/21 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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.

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.

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 Github.

Analyst Sources

Hargreaves Lansdown plc is covered by 10 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Peter RichardsonBerenberg
Justin BatesCanaccord Genuity
Rhea ShahDeutsche Bank