Loading…
UK construction and regeneration group active in building, infrastructure, fit-out and urban partnership housing.
UK construction and regeneration group active in building, infrastructure, fit-out and urban partnership housing.
Wins much of its work through public-sector frameworks and negotiated contracts that bring repeat business, and runs construction on thin margins. Urban regeneration schemes with councils add a development share.
In one line: A UK diversified construction/regeneration contractor.
Moat: narrow (scale, brand, distribution). Diversified UK construction scale and long-term public-sector regeneration ties.
Headquarters: Rugby, UK · Founded: 1977 · Employees: 8,500
Size Morgan Sindall (MGNS.L) is a United Kingdom Industrials company (Engineering & Construction) with a market value of $2.77B, the 139th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £4,342 on 6 Nov 2026.
Performance Over six months the shares fell 6.8%, against -6.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 10.8% over the last twelve months (peer median +10.2%); the operating margin is 4.6% (peer median 5.8%).
Valuation It trades at 11.7× forward earnings against a peer median of 14.2× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 32.5 points above its cost of capital (10.3% WACC).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £5.21B | £5.02B | £4.55B | £4.12B | £3.61B |
| Revenue growth | — | +10% | +10% | +14% | — |
| Gross profit | £645M | £612M | £530M | £445M | £371M |
| EBITDA | £279M | £256M | £214M | £163M | £118M |
| Net income | £189M | £175M | £132M | £118M | £60.9M |
| Free cash flow | £191M | £190M | £131M | £191M | £45.6M |
| Capital expenditure | £18.0M | £16.6M | £18.2M | £14.6M | £11.8M |
| Total debt | n/a | £133M | £118M | £144M | £134M |
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 |
|---|---|---|---|---|---|---|
| Morgan Sindall MGNS.L | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% |
| Kier KIE.L | $1.75B | +53% | +7% | 3% | 12.7× | -6.3% |
| Balfour Beatty BBY.L | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% |
| Galliford Try GFRD.L | $925M | +31% | +3% | 3% | 14.5× | -0.8% |
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 | MGNS.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.7% | -2.2% | 4th highest of 21 |
| 6-month return | -6.8% | -6.2% | 11th highest of 21 |
| Distance from 52-week high | -24.2% | -23.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +10.8% | +10.2% | 10th highest of 21 |
| Operating margin | 4.6% | 5.8% | 9th lowest of 21 |
| Forward P/E | 11.7× | 14.2× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -4.7% | 4.4% | 5th least demanding of 18 |
| Growth delivered (Del g) | +10.6% | +9.4% | 8th highest of 18 |
| Hurdle (Req g minus delivered) | -15.3 pp | -5.8 pp | 6th least demanding of 18 |
| ROIC minus cost of capital | +32.5 pp | +4.5 pp | 3rd highest of 20 |
| EV / EBITDA | 6.1× | 9.7× | 3rd cheapest of 15 |
| Net debt / EBITDA | -1.2× | 0.3× | 4th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Morgan Sindall MGNS.L | United Kingdom | $2.77B | -7% | +11% | 5% | 11.7× | -4.7% | +10.6% |
| Elecnor ENO.MC | Spain | $2.76B | -30% | +7% | 4% | 17.0× | -4.9% | +12.3% |
| Peab PEAB-B.ST | Sweden | $2.80B | +5% | +4% | 4% | 11.4× | 6.6% | -0.4% |
| EXEO 1951.T | Japan | $2.84B | -22% | +18% | 7% | 12.2× | -5.0% | +6.6% |
| Bird Construction BDT.TO | Canada | $2.70B | +28% | +7% | 4% | 21.5× | 6.1% | +17.7% |
| Shanghai Construction 600170.SS | China | $2.89B | -20% | -22% | 1% | 16.7× | -10.4% | -2.3% |
| Keller KLR.L | United Kingdom | $2.63B | +24% | +10% | 7% | 11.8× | 4.4% | +8.4% |
| 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 |
| 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% |
| Bilfinger GBF.DE | Germany | $2.57B | -31% | +6% | 5% | 15.5× | -6.7% | +9.4% |
| L&K Engineering (Suzhou) 603929.SS | China | $2.99B | -50% | +43% | 25% | 14.8× | 7.5% | +39.5% |
| Shanghai Tunnel Engineering 600820.SS | China | $2.56B | -9% | -9% | 6% | 8.0× | -0.6% | +1.4% |
| Bravida BRAV.ST | Sweden | $3.00B | +30% | +4% | 6% | 19.0× | 5.3% | +5.9% |
| Koninklijke Heijmans HEIJM.AS | Netherlands | $2.55B | -7% | +11% | 6% | 13.5× | 3.9% | +9.7% |
| Legence LGN | United States | $3.02B | -72% | +69% | 3% | 12.2× | 29.7% | +69.2% |
| SINOPEC Engineering (Group) 2386.HK | Hong Kong | $3.05B | -13% | +14% | 2% | 9.0× | n/a | n/a |
| Kalpataru Projects International KPIL.NS | India | $2.48B | +6% | +15% | 6% | 18.6× | 14.9% | +16.0% |