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UK-based geotechnical engineering contractor providing ground improvement and foundation engineering services worldwide.
UK-based geotechnical engineering contractor providing ground improvement and foundation engineering services worldwide.
Wins specialist subcontracts and bid contracts from main contractors and public owners; income is project-based, on fixed price or measured rates per unit, and margin depends on ground conditions and bid pricing. North America is its largest region.
In one line: A UK geotechnical-engineering leader.
Moat: narrow (scale, process know-how, installed base). Global scale and specialized geotechnical equipment/expertise are hard to replicate.
Headquarters: London, UK · Founded: 1860 · Employees: 10,000
Size Keller (KLR.L) is a United Kingdom Industrials company (Engineering & Construction) with a market value of $2.63B, the 141st largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £2,938 on 6 Nov 2026.
Performance Over six months the shares gained 24.4%, against -6.9% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 9.6% over the last twelve months (peer median +10.2%); the operating margin is 6.9% (peer median 5.1%).
Valuation It trades at 11.8× forward earnings against a peer median of 15.2× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.0 points above its cost of capital (12.0% WACC).
Next results Next results expected around 9 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £3.24B | £3.09B | £2.99B | £2.97B | £2.94B |
| Revenue growth | — | +3% | +1% | +1% | — |
| Gross profit | £223M | £1.29B | £1.25B | £1.16B | £1.08B |
| EBITDA | £335M | £321M | £320M | £313M | £207M |
| Net income | £156M | £143M | £142M | £89.4M | £46.0M |
| Free cash flow | £176M | £172M | £183M | £104M | -£22.8M |
| Capital expenditure | £96.0M | £90.4M | £89.0M | £94.5M | £81.7M |
| Total debt | n/a | £310M | £335M | £389M | £400M |
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 |
|---|---|---|---|---|---|---|
| Keller KLR.L | $2.63B | +24% | +10% | 7% | 11.8× | 4.4% |
| Vinci DG.PA | $69.8B | -12% | +4% | 12% | 12.2× | -1.5% |
| Per Aarsleff Holding A/S PAAL-B.CO | $2.02B | -6% | +14% | 5% | 13.4× | -7.6% |
| Skanska SKA-B.ST | $12.1B | +16% | -6% | 4% | 17.1× | 8.3% |
| HOCHTIEF Aktiengesellschaft HOT.DE | $30.9B | -31% | +8% | 4% | 25.1× | 2.6% |
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 | KLR.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | -0.9% | 7th lowest of 21 |
| 6-month return | +24.4% | -6.9% | 4th highest of 21 |
| Distance from 52-week high | -16.5% | -24.1% | 5th highest of 21 |
| Revenue growth (TTM) | +9.6% | +10.2% | 10th lowest of 21 |
| Operating margin | 6.9% | 5.1% | 5th highest of 21 |
| Forward P/E | 11.8× | 15.2× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | -0.8% | 7th most demanding of 18 |
| Growth delivered (Del g) | +8.4% | +9.7% | 8th lowest of 18 |
| Hurdle (Req g minus delivered) | -4.0 pp | -11.6 pp | 6th most demanding of 18 |
| ROIC minus cost of capital | +10.0 pp | +4.4 pp | 8th highest of 20 |
| EV / EBITDA | 6.2× | 9.2× | 4th cheapest of 14 |
| Net debt / EBITDA | 0.3× | 0.1× | 8th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Keller KLR.L | United Kingdom | $2.63B | +24% | +10% | 7% | 11.8× | 4.4% | +8.4% |
| Aecon ARE.TO | Canada | $2.59B | -4% | +23% | 2% | 26.3× | 5.1% | +8.3% |
| Cemindia Projects CEMPRO.NS | India | $2.58B | +36% | +10% | 9% | 32.8× | 42.2% | +29.9% |
| Toda 1860.T | Japan | $2.58B | -3% | +10% | 6% | 11.1× | -0.8% | +5.0% |
| Tecnicas Reunidas TRE.MC | Spain | $2.57B | -5% | +33% | 4% | 13.5× | -2.5% | +12.9% |
| Bird Construction BDT.TO | Canada | $2.70B | +28% | +7% | 4% | 21.5× | 6.1% | +17.7% |
| Bilfinger GBF.DE | Germany | $2.57B | -31% | +6% | 5% | 15.5× | -6.7% | +9.4% |
| Shanghai Tunnel Engineering 600820.SS | China | $2.56B | -9% | -9% | 6% | 8.0× | -0.6% | +1.4% |
| Koninklijke Heijmans HEIJM.AS | Netherlands | $2.55B | -7% | +11% | 6% | 13.5× | 3.9% | +9.7% |
| Elecnor ENO.MC | Spain | $2.76B | -30% | +7% | 4% | 17.0× | -4.9% | +12.3% |
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| Kalpataru Projects International KPIL.NS | India | $2.48B | +6% | +15% | 6% | 18.6× | 14.9% | +16.0% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| Arcplus 600629.SS | China | $2.43B | -17% | -25% | -3% | 38.4× | n/a | n/a |
| AF Gruppen AFG.OL | Norway | $2.42B | +13% | +11% | 5% | 16.2× | -9.7% | +3.4% |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| Webuild WBD.MI | Italy | $2.39B | -22% | +2% | -1% | 6.5× | -2.1% | +24.4% |
| Jgc 1963.T | Japan | $2.94B | -18% | -15% | 6% | 10.0× | n/a | n/a |
| ACME Solar ACMESOLAR.NS | India | $2.95B | +32% | +54% | 66% | 29.6× | n/a | n/a |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |