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UK retail conglomerate operating Sports Direct, House of Fraser, Flannels and other retail and fashion brands.
UK retail conglomerate operating Sports Direct, House of Fraser, Flannels and other retail and fashion brands.
Sells goods through its own shops and websites, and also takes large minority stakes in other listed retailers and brands, whose gains and losses and occasional takeovers run through its results. Stores are mostly in the UK, with Sports Direct the largest. Founder Mike Ashley and his family remain the controlling shareholders.
In one line: A UK retail conglomerate akin to a diversified Dick's Sporting Goods/Neiman Marcus hybrid.
Moat: narrow (scale, distribution, brand). Scale purchasing power and a diversified multi-format retail portfolio across price points.
Headquarters: Shirebrook, UK · Founded: 1982 · Employees: 33,000
Size Frasers (FRAS.L) is a United Kingdom Consumer Discretionary company (Specialty Stores) with a market value of $5.64B, the 86th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £981.50 on 6 Nov 2026.
Performance Over six months the shares gained 44.2%, against +3.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +3.9%); the operating margin is 7.1% (peer median 4.8%).
Valuation It trades at 9.1× forward earnings against a peer median of 15.4× (7th cheapest of 21).
Capital Return on invested capital runs 5.8 points below its cost of capital (11.9% WACC).
Next results Next results expected around 3 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £5.33B | £5.33B | £4.90B | £5.32B | £5.59B |
| Revenue growth | — | +9% | -8% | -5% | — |
| Gross profit | £2.60B | £2.60B | £2.31B | £2.43B | £2.40B |
| EBITDA | £720M | £703M | £770M | £780M | £648M |
| Net income | £375M | £375M | £292M | £381M | £465M |
| Free cash flow | -£164M | -£164M | £471M | £382M | £44.9M |
| Capital expenditure | £655M | £655M | £412M | £267M | £469M |
| Total debt | n/a | £2.53B | £1.86B | £1.45B | £1.43B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Frasers FRAS.L | $5.64B | +44% | +8% | 7% | 9.1× | n/a |
| JD Sports Fashion JD..L | $6.03B | +37% | +2% | 7% | 9.0× | 1.4% |
| Next NXT.L | $23.8B | +24% | +13% | 19% | 18.8× | 12.5% |
| Marks and Spencer MKS.L | $12.1B | +40% | +21% | 5% | 13.1× | 6.5% |
| ASOS ASC.L | $670M | +88% | -15% | -1% | n/a | 1.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FRAS.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +17.5% | +5.4% | 6th highest of 21 |
| 6-month return | +44.2% | +3.8% | 2nd highest of 21 |
| Distance from 52-week high | 0.0% | -18.3% | highest of 21 |
| Revenue growth (TTM) | +8.1% | +3.9% | 10th highest of 21 |
| Operating margin | 7.1% | 4.8% | 7th highest of 21 |
| Forward P/E | 9.1× | 15.4× | 7th cheapest of 21 |
| ROIC minus cost of capital | -5.8 pp | +3.3 pp | 2nd lowest of 21 |
| EV / EBITDA | 8.8× | 10.3× | 7th cheapest of 19 |
| Net debt / EBITDA | 3.0× | 2.2× | 10th most indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Frasers FRAS.L | United Kingdom | $5.64B | +44% | +8% | 7% | 9.1× | n/a | n/a |
| Rush Enterprises RUSHA | United States | $5.54B | +6% | -3% | 5% | 15.4× | 7.9% | +9.4% |
| AutoNation AN | United States | $5.88B | -11% | -2% | 5% | 8.3× | n/a | n/a |
| Ultrapar Participacoes S.A. Sponsored ADR UGP | United States | $6.12B | -11% | +20% | 5% | 7.0× | -12.6% | +12.2% |
| PriceSmart PSMT | United States | $5.02B | +3% | +12% | 5% | 27.2× | 10.5% | +10.2% |
| Kalyan Jewellers India KALYANKJIL.NS | India | $6.47B | +44% | +46% | 6% | 37.6× | n/a | n/a |
| Lithia Motors LAD | United States | $6.68B | +5% | +1% | 4% | 8.0× | n/a | n/a |
| Endeavour EDV.AX | Australia | $4.48B | +10% | +1% | 4% | 21.4× | 14.9% | +1.0% |
| Pepco Group BV PCO.WA | Poland | $7.18B | +58% | -42% | 15% | 16.8× | 4.6% | +4.5% |
| Signet Jewelers SIG | United States | $4.37B | +34% | +1% | 7% | 9.4× | -1.3% | +5.4% |
| CarMax KMX | United States | $7.31B | +28% | +4% | 2% | 15.5× | 17.6% | +6.7% |
| Bath & Body Works BBWI | United States | $4.31B | +8% | -2% | 15% | 8.3× | -8.8% | +2.5% |
| Academy Sports and Outdoors ASO | United States | $4.14B | +24% | +4% | 10% | 9.9× | -1.2% | +1.2% |
| Asbury Automotive ABG | United States | $3.64B | +1% | -1% | 5% | 7.6× | -2.4% | +20.3% |
| Murphy USA MUSA | United States | $9.45B | -10% | +20% | 4% | 17.5× | -9.4% | +11.5% |
| MINISO 9896.HK | Hong Kong | $3.34B | -25% | +31% | 13% | 9.9× | 1.5% | +18.5% |
| Sanrio 8136.T | Japan | $9.78B | +33% | +28% | 39% | 22.4× | 1.9% | +36.4% |
| Eagers Automotive APE.AX | Australia | $3.18B | -31% | +19% | 4% | 16.5× | 5.9% | +8.3% |
| Warby Parker WRBY | United States | $3.15B | -14% | +11% | 0% | 57.8× | n/a | n/a |
| Group 1 Automotive GPI | United States | $3.12B | -27% | -3% | 5% | 7.1× | -6.1% | +16.3% |
| TRIAL Holdings.Inc 141A.T | Japan | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% | +53.9% |