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UK construction and infrastructure services group building and maintaining roads, utilities and public buildings.
UK construction and infrastructure services group building and maintaining roads, utilities and public buildings.
Much of its work comes through multi-year framework agreements, panels of approved suppliers set up by public bodies, from which individual contracts are then awarded; highways maintenance follows that route. After a debt crisis in 2018-19 it sold off housebuilding and other units and now concentrates on construction and infrastructure.
In one line: A UK diversified construction/infrastructure contractor.
Moat: narrow (scale, installed base). Long-term UK infrastructure maintenance contracts provide recurring, sticky revenue.
Headquarters: Rugby, UK · Founded: 1928 · Employees: 10,000
Size Kier (KIE.L) is a United Kingdom Industrials company (Engineering & Construction) with a market value of $1.75B, the 173rd largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £314.20 on 6 Nov 2026.
Performance Over six months the shares gained 53.1%, against -9.5% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 6.8% over the last twelve months (peer median -2.0%); the operating margin is 3.3% (peer median 6.5%).
Valuation It trades at 12.7× forward earnings against a peer median of 16.3× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.1 points above its cost of capital (8.7% WACC).
Credit Kier has 1 bond outstanding ($334M), rated BB+ by the agencies and trading like B+ at a weighted spread of 264 bp.
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | £4.35B | £4.35B | £4.08B | £3.91B | £3.38B |
| Revenue growth | — | +7% | +4% | +16% | — |
| Gross profit | £381M | £381M | £315M | £319M | £298M |
| EBITDA | £229M | £229M | £220M | £187M | £173M |
| Net income | £61.7M | £61.7M | £56.4M | £42.7M | £41.1M |
| Free cash flow | £183M | £183M | £183M | £190M | £140M |
| Capital expenditure | £14.6M | £14.6M | £18.4M | £27.9M | £8.40M |
| Total debt | n/a | £1.85B | £1.64B | £1.58B | £1.51B |
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 |
|---|---|---|---|---|---|---|
| Kier KIE.L | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% |
| Morgan Sindall MGNS.L | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% |
| Balfour Beatty BBY.L | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% |
| Costain COST.L | $890M | +30% | -6% | 5% | 16.5× | 0.1% |
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 | KIE.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.8% | -1.7% | 2nd highest of 21 |
| 6-month return | +53.1% | -9.5% | highest of 21 |
| Distance from 52-week high | -2.7% | -26.9% | highest of 21 |
| Revenue growth (TTM) | +6.8% | -2.0% | 8th highest of 21 |
| Operating margin | 3.3% | 6.5% | 7th lowest of 21 |
| Forward P/E | 12.7× | 16.3× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -6.3% | 4.1% | 3rd least demanding of 15 |
| Growth delivered (Del g) | +5.9% | +4.4% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | -12.2 pp | -6.0 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | +15.1 pp | +1.0 pp | 4th highest of 20 |
| EV / EBITDA | 5.4× | 12.8× | cheapest of 12 |
| Net debt / EBITDA | -0.2× | 0.3× | 5th least indebted of 13 |
| Bond spread | 264 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kier KIE.L | United Kingdom | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% | +5.9% |
| Engineers India ENGINERSIN.NS | India | $1.74B | +12% | +6% | 20% | 25.2× | 29.6% | +4.6% |
| Suzhou Gold Mantis Construction and Decoration 002081.SZ | China | $1.74B | -25% | -8% | 3% | 29.6× | 12.2% | -11.1% |
| Tasmea TEA.AX | Australia | $1.73B | +49% | +136% | 8% | 18.9× | 4.6% | +59.3% |
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| China Aluminum International Engineering 2068.HK | Hong Kong | $1.71B | -39% | -6% | 4% | 13.3× | 11.9% | -0.6% |
| Guangdong Construction Engineering 002060.SZ | China | $1.79B | -15% | -11% | 3% | 8.0× | n/a | n/a |
| Badger Infrastructure Solutions BDGI.TO | Canada | $1.80B | -10% | +16% | 8% | 19.2× | 21.0% | +15.8% |
| NCC NCC-A.ST | Sweden | $1.69B | -3% | -17% | 3% | 22.2× | -1.6% | +0.7% |
| China Next-Gen Commerce and Supply Chain 3928.HK | Hong Kong | $1.81B | +47% | -26% | -17% | n/a | n/a | n/a |
| Envision Greenwise 1783.HK | Hong Kong | $1.68B | +38% | +183% | 3% | n/a | n/a | n/a |
| Mega Union Technology 6944.TW | Taiwan | $1.82B | -17% | +60% | 21% | 14.1× | -4.0% | +30.2% |
| Japan Elevator Service 6544.T | Japan | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% | +18.6% |
| Shandong Hi-speed Road&bridge 000498.SZ | China | $1.65B | +20% | -9% | 7% | 4.9× | n/a | n/a |
| Beijing Enterprises Water 0371.HK | Hong Kong | $1.86B | -48% | -5% | 24% | 9.5× | 4.2% | -1.2% |
| Jinko Power Technology 601778.SS | China | $1.86B | -49% | -25% | 16% | n/a | n/a | n/a |
| Implenia IMPN.SW | Switzerland | $1.61B | +12% | -8% | 2% | 15.0× | 6.0% | -2.7% |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% | +5.4% |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 40.3× | n/a | n/a |
Kier has 1 bond outstanding with $334M face value. The agencies rate it BB+; its bonds trade like B+. Weighted yield 7.24%, a spread of 264 bp over government bonds.