Costain Group PLC

COST.L · Industrials · Engineering & Construction · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

646.37M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

547.52M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

457.23M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

550.37M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

928.27M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.59×

the ratio the screener ranks by

Margin of Safety

-68.7%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 646.37M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)313.35M USD
+②Net Cash Today174.99M USD
+③Growth Value158.02M USD
=Value646.37M USD

EPV of the Operations (NOPAT over WACC)

313.35M USD

Net cash today

+174.99M USD

Growth Value

+158.02M USD

Value

646.37M USD

①EPV (Earnings Power Value)

313.35M USD

②Net Cash Today

174.99M USD

③Growth Value

158.02M USD

Market value

Market Cap928.27M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-43.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 547.52M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE359.24M USD
+②Equity at Year 15, Today188.28M USD
=Value547.52M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

359.24M USD

②Equity at Year 15, Today

188.28M USD

Market value

Market Cap928.27M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-69.5%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 457.23M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF254.72M USD
+②Invested Capital at Year 15, Today27.51M USD
+③Net Cash Today174.99M USD
=Value457.23M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

254.72M USD

②Invested Capital at Year 15, Today

27.51M USD

③Net Cash Today

174.99M USD

Market value

Market Cap928.27M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-103.0%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.85%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.89×Market Risk Premium 6.00%= 9.83%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 14.69M USDPretax Income 64.98M USD= 22.61%

The tax the interest saves.

Interest Expense =EBIT 70.64M USD−Pretax Income 64.98M USD= 5.66M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 5.66M USDTotal Debt 43.12M USD×(1 − Tax Rate for WACC 22.61%)= 10.16%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 43.12M USDMarket Cap + Total Debt 928.27M USD + 43.12M USD= 4.44%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 95.56%×Cost of Equity 9.83%+Debt Weight 4.44%×Cost of Debt 10.16%= 9.85%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 773.61M USD − Total Liabilities 431.72M USD = Book Value Today 341.90M USD

Total Debt 43.12M USD − Cash and Short-Term Investments 218.11M USD = Net Debt Today -174.99M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-3.8%at most 5%passes266,129,025 / 276,718,885
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets2.4%at least -10.0%passes(69.16M USD − 50.28M USD) ÷ 773.61M USD
Price to bookMarket Cap ÷ Book Value Today2.72×at most 3×passes928.27M USD ÷ 341.90M USD
Operating marginOperating Income ÷ Revenue4.3%above 10.0%does not pass60.39M USD ÷ 1.41B USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-10.3%above 10.0%does not pass1.41B USD / 1.57B USD
Net cash(Cash − Total Debt) ÷ Market Cap18.9%above -30%passes(218.11M USD − 43.12M USD) ÷ 928.27M USD
Operating efficiencyOperating Income ÷ Gross Profit39.4%above 25.0%passes60.39M USD ÷ 153.41M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

262.76 GBp

Enterprise value

534.27M GBP

the provider's own figure

EV / EBITDA

10.98×

Price / book

2.63×

the provider's book

Price / earnings

18.75×

Return on equity

15.2%

the provider's figure, not this page's

Profit margin

3.6%

Revenue growth

3.4%

Analyst target, mean

257.26 GBp

Analysts

6

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

1.72B1.70B1.57B1.41B

Gross profit

111.87M133.59M129.76M153.41M

Operating income

42.12M34.16M39.07M60.39M

EBITDA

operating income before depreciation and amortisation

58.65M64.88M66.07M88.03M

Pretax income

39.58M39.39M45.85M64.98M

Net income

31.26M28.17M38.44M50.28M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

31.26M28.17M38.44M50.28M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

588.45M691.13M687.37M757.48M

Total liabilities

333.57M411.46M391.30M409.41M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

254.88M279.66M296.08M348.07M

Total debt

35.60M30.97M32.41M33.70M

Cash and equivalents

149.41M209.56M199.10M255.19M

Net PP&E

fixed assets after depreciation

38.62M34.16M44.34M46.51M

Working capital

current assets less current liabilities

81.70M116.63M120.09M168.51M
Cash flow (USD)2022202320242025

Operating cash flow

17.02M88.97M53.64M69.16M

Capital expenditure

paid out, so below zero

-603.42K-127.47K-11.43M-3.77M

Depreciation and amortisation

14.36M20.52M15.33M17.39M

Free cash flow

operating cash flow plus capital expenditure

16.41M88.84M42.21M65.38M