Added to YB: 2026-08-26
Pitch date: 2026-08-18
FSJ.L [neutral]
James Fisher and Sons plc
-1.31%
current return
Author Info
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Company Info
James Fisher and Sons plc operates as a marine services company in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.
Market Cap
GBP 232.2M
Pitch Price
GBP 4.59
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.78
P/E
-52.71
EV/Sales
0.96
Sector
Transportation Infrastructure
Category
turnaround
Monthly SpreadHunters Monitoring - James Fisher and Sons plc
FSJ.L (earnings): H1 trading update: 'on track' for FY, revenue ~£190m and underlying OP ~£13m, but leverage stuck at upper end of 1.0-1.5x range (no improvement from 1.3x). Defense (underwater rescue, diving, tactical vehicles) and Maritime Transport (high fleet utilization, 3/4 newbuilds delivered, strong STS demand) drive the turnaround; Energy is the drag—project delays, offshore-wind cancellations hitting Bubble Curtain, recovery pushed to 2027. FY25 already showed UOP +56% to £28.6M, margin +250bps to 7.6%, ROCE 8.6% (vs 15% target). Key overhang: June auditor cautionary note questioning EBITDA recurrence/quality, unresolved until Sept full results—the key catalyst.
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