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MHA PlcMHA.LCompetitor analysis, valuation and peers

United Kingdom · GBP·Industrials›Miscellaneous Commercial Services
Momentum neutral 44
Mkt cap
$504M
US dollars, full cap
Free float
92%
of shares outstanding
$/day
$484,604
20-day average traded
Fwd P/E
11.7×
forward earnings
ROIC−WACC
+52.6 pp
WACC 6.7%
Hurdle
-46 pp
Req g minus delivered
Next earnings
13 days
19 Nov 2026
Close · GBP£145.00
1D0.0%
1W+3.9%
1M+9.8%
3M+0.7%
6M-4.0%
YTD-5.8%
1Y+2.1%
ATR %2.3%
52w lowhigh17.1% off high

What MHA does

No business profile yet.

MHA at a glance

Size MHA (MHA.L) is a United Kingdom Industrials company (Miscellaneous Commercial Services) with a market value of $504M, the 295th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £145.00 on 6 Nov 2026.

Performance Over six months the shares fell 4.0%, against -4.3% 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 12.1% over the last twelve months (peer median +4.5%); the operating margin is 15.5% (peer median 7.8%).

Valuation It trades at 11.7× forward earnings against a peer median of 17.3× (2nd cheapest of 15).

Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -46 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 52.6 points above its cost of capital (6.7% WACC).

Next results Next results expected around 19 Nov 2026 (exchange calendar; dates can move).

Relative performance

9010011 May 202611 Aug 20266 Nov 2026Peer median 96MHA.L 94
Six months, rebased to 100: MHA against the median of its 20 peers (local-currency closes).

MHA financials

Reported figures in GBP; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue£251M£251M£224M£154M£113M
Revenue growth—+12%+46%+37%—
Gross profit£234M£234M£210M£146M£108M
EBITDA£45.3M£46.2M£83.1M£61.2M£48.8M
Net income£28.1M£28.1M£83.1M£56.3M£44.0M
Free cash flow£71.8M£71.8M£67.8M£52.4M£41.8M
Capital expenditure£992,000£992,000£2.03M£369,000£195,000
Total debtn/a£22.9M£20.8M£17.8M£21.0M

Quarterly statements and history in the cockpit →

MHA competitor charts

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.

Performance: 6-month against 1-month return

-40%-20%0%+20%-20%-10%0%+10%688265IEGDIV301259300887300859ADN142903636603205GPIMAPMYINDIA77223010381477BTS-B87712353POSTI300864MHA.L6-month return →1-month return →
Up and to the right = strong over both horizons. MHA is the large dot.

Fundamentals: revenue growth against valuation

-10%0%+10%+20%10×20×30×IEGDIV300887300859ADN142903636GPIMAPMYINDIA7722BTS-B87712353POSTIMHA.LRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. MHA is the large dot.

Capital: growth delivered against growth the price implies

0%+20%+40%0%20%40%IEGDIV300859ADN142903636603205MAPMYINDIA301038BTS-B8771POSTI300864MHA.LGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. MHA is the large dot.

MHA competitors and peer comparison

How MHA compares with its peers

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.

MHA against its 20 peers (data as of 6 Nov 2026)
MeasureMHA.LPeer medianRank in peer set
1-month return+9.8%-3.3%3rd highest of 21
6-month return-4.0%-4.3%11th highest of 21
Distance from 52-week high-17.1%-27.9%7th highest of 21
Revenue growth (TTM)+12.1%+4.5%6th highest of 21
Operating margin15.5%7.8%7th highest of 21
Forward P/E11.7×17.3×2nd cheapest of 15
Growth the price implies (Req g, 7 yrs)-15.0%-0.4%least demanding of 15
Growth delivered (Del g)+30.6%+11.6%2nd highest of 15
Hurdle (Req g minus delivered)-45.6 pp-5.6 ppleast demanding of 15
ROIC minus cost of capital+52.6 pp+3.1 pphighest of 20
EV / EBITDA8.1×8.6×7th cheapest of 13
Net debt / EBITDA-0.1×-1.0×7th most indebted of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
MHA MHA.LUnited Kingdom$504M-4%+12%15%11.7×-15.0%+30.6%
Shanghai Model Organisms Center 688265.SSChina$503M+7%+14%-1%n/an/an/a
Italian Exhibition IEG.MIItaly$505M+14%+4%18%13.2×-4.8%+28.4%
Diversified Royalty DIV.TOCanada$507M-6%+15%86%17.7×13.0%+18.3%
Hunan Airbluer Environmental Protection Technology 301259.SZChina$498M-47%-43%-17%n/an/an/a
Pony Testing 300887.SZChina$513M-35%-2%-12%31.4×n/an/a
Western Regions Tourism Development 300859.SZChina$513M-30%-13%15%25.4×38.8%+44.7%
adesso ADN1.DEGermany$513M+31%+13%4%16.8×2.1%+22.9%
Prestige International 4290.TJapan$518M-4%+10%13%13.4×-12.4%+11.8%
Mitsubishi Research Institute 3636.TJapan$489M+8%+4%7%11.2×-9.9%+4.1%
Jianerkang Medical 603205.SSChina$487M-19%-2%14%n/a-2.9%-8.8%
GPI GPI.MIItaly$487M-3%+2%6%15.4×n/an/a
C.E. Info Systems MAPMYINDIA.NSIndia$486M-13%+3%31%25.5×31.1%+25.5%
LINE Pay Taiwan 7722.TWTaiwan$484M-16%+20%6%18.3×n/an/a
Shenzhen Water Planning & Design Institute 301038.SZChina$484M-26%+6%8%n/a20.2%-1.9%
Ocumension Therapeutics 1477.HKHong Kong$525M-29%+78%-13%n/an/an/a
BTS BTS-B.STSweden$527M+76%-4%8%25.6×10.7%+13.0%
eGuarantee 8771.TJapan$482M-5%+5%48%19.4×-6.7%+8.3%
Nippon Parking Development 2353.TJapan$527M+8%+11%21%13.8×-7.8%+11.3%
Posti POSTI.HEFinland$529M+31%0%5%13.2×-5.4%-1.4%
Academy of Environmental Planning & Design Co., Ltd. Nanjing University 300864.SZChina$531M0%+5%18%n/a9.3%+10.6%

Questions

Which companies are MHA's closest peers?
The cockpit's peer set: Shanghai Model Organisms Center (688265.SS), Italian Exhibition (IEG.MI), Diversified Royalty (DIV.TO), Hunan Airbluer Environmental Protection Technology (301259.SZ), Pony Testing (300887.SZ), Western Regions Tourism Development (300859.SZ), adesso (ADN1.DE), Prestige International (4290.T).
Is MHA expensive compared with its peers?
On forward p/e it trades at 11.7× against a peer median of 17.3×, 2nd cheapest of 15 in its peer set. For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -46 pp: the price already allows for a slowdown.
How has MHA stock performed?
Over six months to 6 Nov 2026 the shares returned -4.0% against -4.3% for the median peer; over one year +2.1%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.