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Hilton Food Group

HFG.L
45
Packaged Foods · Consumer Defensive
Price
616.00 GBp
+1.50 (+0.24%)
Market Cap
£554.1M
Exchange
London Stock Exchange
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Mixed
Cash Flow
Good
Stability
Mixed
Valuation
Good
Dividends
Exceptional

Share count rising — dilution

+8.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 83.6M (2021) → 90.4M (2025)

Winston Score History

The full picture

Hilton Food Group is a food packaging and processing company based in the United Kingdom. It takes raw meat, seafood, and plant-based foods and packages them for sale in supermarkets. Its main customers are large grocery retailers, including Tesco, Woolworths in Australia, and other major chains across Europe and beyond.

Hilton makes money by charging retailers for the processing and packaging of food products, earning a small margin on each unit it handles. The company operates across Europe, Australia, New Zealand, and parts of Asia, making it a mid-sized player in the global food supply chain. Its main competitive advantage is its deep, long-term contracts with a small number of powerful retail partners, which provides steady but concentrated revenue. The biggest risk the business faces is customer concentration — losing or renegotiating a contract with one major retailer could significantly hurt its earnings, and its thin margins leave little room for cost surprises.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+40.0% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

£0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Insider Activity

15.3%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£210M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Hilton Food Group is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
8.3%
Thin — 8.3% gross margin
Profit after running costs
Operating Margin
1.0%
Thin — 1.0% operating margin
Return on the money invested
ROCE
9.7%
Below par — 9.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+5.7%
Slow sales growth (+5.7% YoY)
Profit growth
EPS YoY
+20.5%
Earnings growing fast (+20.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
144%
Turns 144% of profit into real cash
Spare cash per sale
FCF Margin
-0.5%
Burning cash (-0.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.76
Moderate — manageable debt (0.76)
Covers its interest
Interest Cover
1.84x
Dangerous — barely covers interest (1.8x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
11.6x
Attractive valuation — P/E 11.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.1
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
6.38%
Healthy income — 6.38% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+12.6%
Dividend growing fast (12.6% YoY)

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