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Employees: 9,017
Size Marston's (MARS.L) is a United Kingdom Consumer Discretionary company (Restaurants) with a market value of $497M, the 296th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £58.00 on 6 Nov 2026.
Performance Over six months the shares gained 23.4%, against +0.9% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 0.5% over the last twelve months (peer median +7.1%); the operating margin is 22.5% (peer median 5.4%).
Valuation It trades at 6.2× forward earnings against a peer median of 21.2× (2nd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points above its cost of capital (7.2% WACC).
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £893M | £898M | £899M | £872M | £800M |
| Revenue growth | — | 0% | +3% | +9% | — |
| Gross profit | £201M | £160M | £421M | £390M | £335M |
| EBITDA | £245M | £205M | £188M | £157M | £150M |
| Net income | £74.6M | £71.6M | -£6.60M | -£9.30M | £137M |
| Free cash flow | £31.1M | £53.6M | £61.0M | -£15.4M | -£14.6M |
| Capital expenditure | £69.2M | £61.2M | £46.2M | £65.3M | £70.1M |
| Total debt | n/a | £1.24B | £1.30B | £1.60B | £1.62B |
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.
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 | MARS.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +27.1% | +6.8% | 4th highest of 21 |
| 6-month return | +23.4% | +0.9% | 7th highest of 21 |
| Distance from 52-week high | -16.2% | -13.6% | 10th lowest of 21 |
| Revenue growth (TTM) | -0.5% | +7.1% | 6th lowest of 21 |
| Operating margin | 22.5% | 5.4% | highest of 21 |
| Forward P/E | 6.2× | 21.2× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.5% | 4.3% | 5th least demanding of 17 |
| Growth delivered (Del g) | +11.7% | +9.5% | 8th highest of 17 |
| Hurdle (Req g minus delivered) | -14.2 pp | -7.2 pp | 6th least demanding of 17 |
| ROIC minus cost of capital | +0.1 pp | +0.6 pp | 11th highest of 21 |
| EV / EBITDA | 6.5× | 10.0× | 7th cheapest of 17 |
| Net debt / EBITDA | 5.0× | 1.3× | 4th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Marston's MARS.L | United Kingdom | $497M | +23% | -1% | 22% | 6.2× | -2.5% | +11.7% |
| Sagami 9900.T | Japan | $494M | +13% | +10% | 7% | n/a | 7.7% | +14.1% |
| Portillo's PTLO | United States | $504M | +54% | +3% | 6% | 31.0× | n/a | n/a |
| Kappa.create 7421.T | Japan | $489M | +3% | -1% | -1% | n/a | 29.8% | +2.4% |
| Hyundai Green Food 453340.KS | South Korea | $482M | +22% | +7% | 5% | 6.2× | -18.0% | +6.6% |
| Feastogether 7883.TWO | Taiwan | $479M | -9% | +10% | 9% | n/a | -0.2% | +27.9% |
| OOTOYA 2705.T | Japan | $477M | +53% | +18% | 6% | n/a | 10.0% | +18.1% |
| Srs 8163.T | Japan | $474M | +53% | +10% | 4% | 43.0× | 9.6% | +11.8% |
| Tongqinglou Catering 605108.SS | China | $473M | -24% | +4% | 6% | 30.7× | n/a | n/a |
| Xi'an Catering 000721.SZ | China | $523M | -20% | -14% | -23% | n/a | 50.5% | +6.5% |
| AmRest EAT.WA | Poland | $529M | -5% | -3% | 4% | 22.9× | 5.1% | +9.9% |
| Koshidaka 2157.T | Japan | $530M | -6% | +16% | 13% | 10.8× | -9.8% | +31.1% |
| Cafe de Coral 0341.HK | Hong Kong | $464M | +61% | -4% | 4% | 14.7× | -9.1% | +4.0% |
| Black Rock Coffee Bar BRCB | United States | $538M | -6% | +24% | 3% | 50.1× | n/a | n/a |
| Elior ELIOR.PA | France | $544M | -35% | 0% | 2% | 12.4× | 6.3% | +9.2% |
| Dine Brands Global DIN | United States | $454M | +26% | +8% | 14% | 7.9× | n/a | n/a |
| El Pollo Loco LOCO | United States | $453M | +6% | +4% | 10% | 14.4× | 3.2% | +2.8% |
| DPC Dash 1405.HK | Hong Kong | $548M | -34% | +26% | 4% | 21.2× | 6.6% | +36.3% |
| Wowprime 2727.TW | Taiwan | $550M | -1% | +10% | 8% | 12.2× | -11.9% | +9.0% |
| Bronco Billy 3091.T | Japan | $551M | +41% | +14% | 12% | 32.1× | 1.5% | +11.8% |
| Sligro Food SLIGR.AS | Netherlands | $444M | -28% | -4% | 1% | 25.2× | 3.4% | +6.5% |