Severfield

SFR.L

Engineering & Construction · Industrials

Price

37.70 GBp

-0.30 (-0.79%)

Market Cap

£111.3M

Exchange

London Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count falling — buybacks

−4.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 310.2M (2022) → 295.9M (2026)

Winston Score History

The full picture

Severfield plc is a UK-based structural steel fabricator. The company designs and builds large steel frameworks used in buildings like warehouses, offices, stadiums, and data centers. Its customers are mainly construction contractors and property developers across the UK and India.

Severfield earns money by winning contracts to supply and install structural steelwork on construction projects. It operates primarily in the UK, with a growing joint venture in India through its partnership with JSW Steel. The company's competitive position comes from its scale and long track record in a specialized trade with high technical requirements. However, the negative operating margin and weak returns on capital reflect current pressure from rising input costs and a slowdown in UK construction activity — the main risk is that project pipelines thin out further if interest rates keep suppressing commercial property development.

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

+24.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-203.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

£0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

£48M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

£48M cash & investments at current burn rate

Growth context

Severfield is growing revenue at 25% 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

-12.8%

Thin — -12.8% gross margin

Profit after running costs

Operating Margin

-12.8%

Losing money on operations — -12.8%

Return on the money invested

ROCE

-18.9%

Weak — -18.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+0.7%

Nearly flat sales (+0.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

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

N/A

Data not available

Spare cash per sale

FCF Margin

3.3%

Thin free cash flow (3.3%)

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

0.36

Conservative — low debt load (0.36)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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