Samuel Heath & Sons

HSM.L

Construction Materials · Industrials

Exchange

London Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Strong

Stability

Good

Valuation

Weak

Dividends

Strong

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Winston Score History

The full picture

Samuel Heath & Sons is a small British manufacturer that makes high-end bathroom and door hardware. Its products include luxury taps, showers, towel rails, and architectural ironmongery — things like door handles and hooks — sold under the Samuel Heath brand. The company sells mainly to premium hotels, upscale residential projects, and specialist retailers, competing in the luxury fittings market.

The company earns money by selling its products directly and through distributors, primarily in the United Kingdom but also to export markets including the Middle East and other regions where luxury construction is active. Samuel Heath has operated from Birmingham for over 150 years, and its long heritage and handcrafted quality give it a niche position that larger, mass-market competitors find difficult to replicate. Its main risk is its small size and dependence on high-end construction activity, which can slow sharply during economic downturns or when luxury property development cools.

Growth Profile

For growth stock investors

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

Revenue Growth

-1.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-168.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

80.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

£3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Revenue declining

Samuel Heath & Sons's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

42.4%

Healthy — 42.4% gross margin

Profit after running costs

Operating Margin

-2.9%

Losing money on operations — -2.9%

Return on the money invested

ROCE

2.2%

Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+0.4%

Nearly flat sales (+0.4% YoY)

Profit growth

EPS YoY

-77.1%

Earnings shrinking (-77.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

723%

Turns 723% of profit into real cash

Spare cash per sale

FCF Margin

9.4%

Modest free cash flow (9.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

30.6x

no trend

Pricey — P/E 30.6

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

4.67%

no trend

Healthy income — 4.67% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+4.0%

no trend

Dividend growing modestly (4.0% YoY)

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