Added to YB: 2026-03-12
Pitch date: 2026-03-10
TFW.L [neutral]
FW Thorpe Plc
-1.37%
current return
Author Info
Mahad is a contrarian value investor with a focus on DCF analysis and a disciplined margin of safety approach. Sign up for the newsletter.
Company Info
FW Thorpe Plc designs, manufactures, and supplies professional lighting equipment in the United Kingdom, the Netherlands, Germany, rest of Europe, and internationally.
Market Cap
GBP 301.0M
Pitch Price
GBP 2.62
Price Target
391.02 (+14905%)
Dividend
2.68%
EV/EBITDA
6.56
P/E
12.12
EV/Sales
1.44
Sector
Electrical Equipment
Category
value
H1 2026 Updates: FW Thorpe
TFW.L (earnings): H1 interim div +2.8%, special div 2.6p (total divs +150% YoY). Capex +20% for factory expansion & automation (Solite, Zemper, Thorlux). Hiring sales staff across Zemper, SchahlLED, Thorlux, Lightronics. No M&A at acceptable prices; excess cash via buybacks. DCF shows 47% upside (1-7.5% WACC). Strong balance sheet, decentralized structure.
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