Howden Joinery Group Plc
Howden Joinery Group Plc supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland. The company's product portfolio includes cabinet, worktops, sinks and taps, flooring, appliances, and handles; internal and external doors, such as …
Howden Joinery Group Plc supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland. The company's product portfolio includes cabinet, worktops, sinks and taps, flooring, appliances, and handles; internal and external doors, such as fire doors, flooring, stair parts, and general joinery items; and cooking, cleaning, and cooling appliances. The company was formerly known as Galiform Plc and changed its name to Howden Joinery Group Plc in September 2010. Howden Joinery Group Plc was incorporated in 1987 and is based in London, the United Kingdom.Looks undervalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price below modeled range
Showing the EV/Sales (Rule of 40) you selected on the company card, using 7.06% growth, 3.1% terminal growth and 10.8% discount. The range varies these assumptions slightly; it is illustrative, not investment advice. Low confidence: the modelled value is far from the market price, which usually means the model does not capture this company well (for example expected growth well above its history).
Assumptions: growth 7.06%, discount rate 10.80%, terminal growth 3.10% (sector defaults). See a worked example.
Blended growth assumption: 7.1% (sector default 7.2%, own revenue history 3.7%, analyst revenue consensus 8.7%).
Analyst consensus expects revenue growth of 8.7% a year; the growth assumption used is 7.1%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — GBP 9.23 (+9.1%)
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EPS-based Gordon proxy
— GBP 6.56 (-22.5%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— GBP 9.23 (+9.1%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— GBP 7.72 (-8.7%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— GBP 10.89 (+28.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— GBP 9.17 (+8.4%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— GBP 24.83 (+193.5%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear GBP 18.46 | 54.2% |
| Base GBP 24.83 | 65.9% |
| Bull GBP 31.20 | 72.9% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 92 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +3.7% a year | 12 / 20 |
| Balance sheet | net debt 0.7x EBITDA | 20 / 20 |
| Margins | EBITDA margin 22% | 20 / 20 |
Peers in Consumer Discretionary
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| HWDN.L (this company) | GBP 8.46 | 8.3% | 17.3 | 3.9 | 2.5% | 92 |
| KGF.L Kingfisher plc | GBP 3.72 | 45.2% | 27.0 | 1.1 | 3.3% | 74 |
| BWY.L Bellway p.l.c. | GBP 23.01 | 43.6% | 14.0 | 0.8 | 3.1% | 70 |
| INCH.L Inchcape plc | GBP 6.41 | 37.3% | 9.0 | 1.9 | 4.1% | 80 |
| ZAL.DE Zalando SE | EUR 27.49 | 36.6% | 108.5 | 2.6 | – | 80 |
| DECK Deckers Brands | USD 87.74 | 34.9% | 11.2 | 5.1 | – | 100 |
| EXPE Expedia Group | USD 272.48 | 29.6% | 15.8 | 20.2 | 0.7% | 100 |
| BKNG Booking Holdings | USD 168.72 | 28.9% | 17.7 | – | 1.0% | 100 |
| PETS.L Pets at Home Group Plc | GBP 2.58 | 25.2% | 18.8 | 1.2 | 2.9% | 82 |
| Peer median | 16.8 | 1.9 | ||||
Dividends
Paid in the last 12 months: GBP 0.00 per share · yield 0.03% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 0.002 |
| 2025 | 0.002 |
| 2024 | 0.002 |
| 2023 | 0.002 |
| 2022 | 0.002 |
| 2021 | 0.002 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | GBP 2,418,000,000 |
|---|---|
| EBITDA | GBP 526,100,000 |
| EBIT | GBP 358,300,000 |
| Net income | GBP 267,700,000 |
| Free cash flow | GBP 342,300,000 |
| Capital expenditures | GBP 156,500,000 |
| Debt | GBP 704,900,000 |
| Cash | GBP 344,500,000 |
| Working capital | GBP 540,400,000 |
| Shares outstanding | 546,800,000 |
| Reported dividends per share | GBP 0.2132 |