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Employees: 8,088
Size Morgan Advanced Materials (MGAM.L) is a United Kingdom Materials company (Industrial Specialties) with a market value of $981M, the 216th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £264.00 on 6 Nov 2026.
Performance Over six months the shares gained 22.2%, against -25.7% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 5.6% over the last twelve months (peer median +6.3%); the operating margin is 9.3% (peer median 6.9%).
Valuation It trades at 14.6× forward earnings against a peer median of 16.8× (7th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.9 points below its cost of capital (11.8% WACC).
Next results Next results expected around 26 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £992M | £997M | £1.06B | £1.11B | £1.11B |
| Revenue growth | — | -6% | -5% | 0% | — |
| Gross profit | £92.8M | £198M | £235M | £236M | £245M |
| EBITDA | £134M | £210M | £247M | £246M | £255M |
| Net income | £18.4M | £21.1M | £50.3M | £47.3M | £88.0M |
| Free cash flow | £54.8M | £53.5M | £19.8M | £22.0M | -£37.4M |
| Capital expenditure | £39.9M | £67.1M | £96.1M | £60.4M | £58.0M |
| Total debt | n/a | £361M | £394M | £357M | £318M |
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 | MGAM.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.4% | -7.9% | 4th highest of 21 |
| 6-month return | +22.2% | -25.7% | 4th highest of 21 |
| Distance from 52-week high | -10.4% | -37.6% | 3rd highest of 21 |
| Revenue growth (TTM) | -5.6% | +6.3% | 7th lowest of 21 |
| Operating margin | 9.3% | 6.9% | 8th highest of 21 |
| Forward P/E | 14.6× | 16.8× | 7th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 9.4% | 9.7% | 7th least demanding of 14 |
| Growth delivered (Del g) | +1.8% | +11.1% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | +7.6 pp | +2.5 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | -0.9 pp | -1.9 pp | 10th highest of 21 |
| EV / EBITDA | 7.6× | 12.1× | 3rd cheapest of 9 |
| Net debt / EBITDA | 1.9× | -2.0× | 3rd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Morgan Advanced Materials MGAM.L | United Kingdom | $981M | +22% | -6% | 9% | 14.6× | 9.4% | +1.8% |
| ELANTAS Beck India ELANTAS.NS | India | $999M | +23% | +19% | 21% | n/a | 32.4% | +17.2% |
| ZJMI Environmental Energy 603071.SS | China | $1.00B | -15% | -4% | 3% | 9.2× | n/a | n/a |
| Intco Recycling Resources 688087.SS | China | $1.01B | -25% | +29% | 12% | 22.0× | 0.5% | +15.8% |
| Guangdong Tloong Technology 300063.SZ | China | $946M | -26% | +21% | 2% | n/a | 25.0% | -6.6% |
| Chugoku Marine Paints,Ltd 4617.T | Japan | $1.04B | +4% | +10% | 13% | 12.8× | 0.0% | +11.1% |
| SK Kaken 4628.T | Japan | $1.04B | +2% | +9% | 13% | n/a | -19.4% | +5.2% |
| Xinjiang Tianye 600075.SS | China | $1.04B | -41% | -10% | -3% | n/a | n/a | n/a |
| Nitta 5186.T | Japan | $1.05B | +36% | +5% | 7% | 10.8× | 10.6% | +3.1% |
| Jiangxi Guotai 603977.SS | China | $914M | -29% | +15% | 9% | 14.2× | n/a | n/a |
| Hainan Development Holdings Nanhai 002163.SZ | China | $892M | -44% | -9% | -3% | 37.0× | n/a | n/a |
| Mattr MATR.TO | Canada | $879M | +108% | +25% | 7% | 15.6× | 5.8% | +1.5% |
| TOCALO 3433.T | Japan | $864M | -26% | +6% | 23% | 11.8× | n/a | n/a |
| ZETTA 002256.SZ | China | $843M | -40% | +25% | -5% | n/a | n/a | n/a |
| Xinjiang Xuefeng Sci-Tech (Group) 603227.SS | China | $1.14B | -17% | -8% | 12% | 10.3× | -7.6% | +22.0% |
| Shenma Industry 600810.SS | China | $838M | -33% | -9% | 0% | 28.6× | 9.7% | +7.1% |
| Suzhou Xinguangyi Electronics 301687.SZ | China | $831M | -34% | +7% | 19% | n/a | 42.9% | +11.3% |
| PCBL Chemical PCBL.NS | India | $1.16B | -8% | +6% | 8% | 23.5× | 27.6% | +25.1% |
| Hubei Huitian New Materials 300041.SZ | China | $820M | -13% | +15% | 6% | 19.3× | 10.3% | +15.5% |
| Shandong Jinjing Science & Technology 600586.SS | China | $806M | -35% | -23% | -23% | 31.6× | 0.5% | -1.3% |
| Jiangsu Favored Nanotechnology 688371.SS | China | $797M | -34% | -7% | -29% | 18.1× | n/a | n/a |