Added to YB: 2026-06-03
Pitch date: 2026-04-04
SPXSY [bullish]
Spirax Group plc
+1.49%
current return
Author Info
No bio for this author
Company Info
Spirax Group plc provides thermal energy and fluid technology solutions in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.
Market Cap
GBP 5.0B
Pitch Price
GBP 67.64
Price Target
96.00 (+37%)
Dividend
2.49%
EV/EBITDA
14.46
P/E
30.90
EV/Sales
3.35
Sector
Machinery
Category
value
Spirax Group plc - $SPXSY
SPXSY: Mispriced UK industrial compounder, decade-low multiples after biopharma destocking hit crown-jewel Watson-Marlow (now ending, returning to HSD growth). ETS margins to expand 400bps to ~20% by 2027 (AI/semi mix, legacy contracts rolling off). STS service moat, China stabilizing. FY27 EBIT £404m (vs £392m cons) at 19x EV/EBIT = £96 PT. Buybacks in 2027 as net debt <1.5x.
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