NEXT plc (NXT) Fair Value & Analysis
Consumer Cyclical · GB · Market cap 16.7B GBX
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from £154.45 to £149.12 (−3.5%) since Jul 16, 2026. Share price +3.3% over the past month.
A strong business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (£94.64 to £196.81) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range £38.85 – £157.15 · fair‑value band £94.64 – £196.81 · the £152.55 price screens above the £149.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
NEXT plc (NXT) currently trades at £152.55, while our model-based Fair Value estimate is £149.12, implying the stock looks roughly 2.3% fairly valued today. The Quality Score stands at 77/100 (high quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, NEXT plc generated revenue of £6.9B at a net margin of 12.9%. Revenue grew 15.3% year over year. It earns a return on equity of 50.8%. Net debt stands at £1.7B. Fundamentals as of Aug 13, 2026
Our scenario range runs from £94.64 (bear case) to £196.81 (bull case); at £152.55, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at -2%, NXT screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (£159.14) versus Asset-Based (£9.76). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 75
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
NEXT plc engages in the retail of clothing, homeware, and beauty products in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. It operates through Retail Stores, Online (UK), Online (International), NEXT Finance, Total Platform, and Other Business Activities segments.
Full company description
NEXT plc engages in the retail of clothing, homeware, and beauty products in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. It operates through Retail Stores, Online (UK), Online (International), NEXT Finance, Total Platform, and Other Business Activities segments. The company offers NEXT branded products; and women's, men's, children's fashion clothing, and accessories; and third-party branded products. It also provides consumer credit; services to third-party brands, including websites, marketing, warehousing, distribution networks, and contact centers; and property management, which holds and leases properties. The company operates through retail stores, online retail platforms, and franchise stores. The company was formerly known as J Hepworth & Son and changed its name to NEXT plc in 1986. NEXT plc was founded in 1864 and is headquartered in Enderby, the United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
NEXT plc reported revenue of £6.9B in FY2026 versus £4.6B in FY2022, a compound +10.5%/yr. Reported net income was £889M in FY2026, compounding +7.0%/yr from FY2022.
of which total revenue +4.7 pp · buybacks/dilution +2.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Apparel Retail · 109 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Apparel Retail median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Apparel Retail stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Industria de Diseño Textil, S.A ITX | 246.10 PLN | 189.40 PLN | -23% |
| The TJX Companies, Inc TJX | $152.61 | $84.95 | -44% |
| Fast Retailing Co 6288 | HK$37.80 | HK$15.21 | -60% |
| Ross Stores, Inc ROST | $248.25 | $118.41 | -52% |
| Burlington Stores, Inc BURL | $353.63 | $143.65 | -59% |
| Trent Limited TRENT | ₹2,990 | ₹709.49 | -76% |
| lululemon athletica inc., LULU | $120.87 | $299.63 | +148% |
| Aritzia Inc ATZ | C$140.07 | C$70.30 | -50% |
| The Gap, Inc GAP | $20.96 | $36.44 | +74% |
| Urban Outfitters, Inc URBN | $79.43 | $92.88 | +17% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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