olivLaw · European equity research
Burberry Group plc BRBY.L
United Kingdom · London Stock Exchange · ISIN GB0031743007 · Vertical: Listed companies from United Kingdom
Burberry Group plc is a British luxury brand known mainly for its trench coat and gabardine, active in more than 140 countries and territories. The company is executing its Burberry Forward strategy, launched in November 2024, which focuses on brand, outerwear and distribution, in a market where personal luxury demand eased slightly in 2025.
At the close of 05 Nov 2026, Burberry Group plc (BRBY.L) stock was 11.28 GBP (+1.03% on the day), with market capitalisation 4.0 bn GBP, P/E 191.1 on diluted EPS of 0.06 GBP over the last 12 months, dividend yield 0.00%, beta 1.09, 52-week range 9.78–13.60 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 64.6
- strong (55–70)
- Bollinger (20, 2)
- 10.11 – 11.29
- in the upper half of the band · %B 0.99 · band width 11.0%
- SMA 50 / 200
- 10.49 / 11.04
- mixed trend
- MACD (12, 26, 9)
- 0.12 / 0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.3% | −0.6% | +10.0 pp | — |
| 3 months | −5.6% | −4.2% | −1.5 pp | — |
| 6 months | −10.1% | +4.3% | −14.5 pp | — |
| Year to date | −11.2% | +7.5% | −18.7 pp | — |
| 1 year | −6.4% | +9.9% | −16.4 pp | +5.8% |
| 3 years | −33.5% | +49.8% | −83.4 pp | +26.3% |
| 5 years | −43.8% | +42.8% | −86.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 16.4, median 95.2, max 174.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 3.0 bn | 2.5 bn | 2.4 bn |
| Revenue YoY | unavailable | −17.1% | −1.7% |
| Net income | 271.0 m | -75.0 m | 21.0 m |
| Net income YoY | unavailable | −127.7% | unavailable |
| Diluted EPS | 0.74 | -0.21 | 0.06 |
| Diluted EPS YoY | unavailable | −128.3% | unavailable |
| net % | 9.1% | -3.0% | 0.9% |
| Free cash flow | 348.0 m | 307.0 m | 412.0 m |
Balance sheet & financial health
Fiscal year 2026 · 28 Mar 2026
- Cash
- 671.0 m GBP
- Financial debt
- 511.0 m GBP
- Net debt
- -160.0 m GBP
- Equity
- 946.0 m GBP
- Total assets
- 3.1 bn GBP
- Debt / equity
- 0.54x
- Current ratio
- 1.87x
- ROE
- 2.2%
- ROA
- 0.6%
- FCF margin
- 17.0%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 3.0 bn | 2.5 bn | 2.4 bn | esef· 02 Jun 2026verified |
| Cost of revenue | 959.0 m | 923.0 m | 777.0 m | esef· 02 Jun 2026verified |
| Gross profit | 2.0 bn | 1.5 bn | 1.6 bn | esef· 02 Jun 2026verified |
| Operating income | 418.0 m | -3.0 m | 115.0 m | esef· 02 Jun 2026verified |
| Interest expense | 66.0 m | 88.0 m | 89.0 m | esef· 02 Jun 2026verified |
| Pre-tax income | 383.0 m | -66.0 m | 49.0 m | esef· 02 Jun 2026verified |
| Income tax | 112.0 m | 9.0 m | 29.0 m | esef· 02 Jun 2026verified |
| Net income | 271.0 m | -75.0 m | 21.0 m | esef· 02 Jun 2026verified |
| Diluted EPS | 0.74 | -0.21 | 0.06 | esef· 02 Jun 2026verified |
| Dividend per share | 0.64 | 0.43 | 0.00 | esef· 02 Jun 2026derived |
Balance sheet · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 441.0 m | 813.0 m | 671.0 m | esef· 02 Jun 2026verified |
| Receivables | 340.0 m | 309.0 m | 323.0 m | esef· 02 Jun 2026verified |
| Inventories | 507.0 m | 424.0 m | 401.0 m | esef· 02 Jun 2026verified |
| Current assets | 1.4 bn | 1.7 bn | 1.5 bn | esef· 02 Jun 2026verified |
| Property, plant & equipment, net | 406.0 m | 398.0 m | 355.0 m | esef· 02 Jun 2026verified |
| Total assets | 3.4 bn | 3.4 bn | 3.1 bn | esef· 02 Jun 2026verified |
| Short-term debt | 0 | 300.0 m | 0 | esef· 02 Jun 2026verified |
| Long-term debt | 299.0 m | 438.0 m | 511.0 m | esef· 02 Jun 2026verified |
| Current liabilities | 857.0 m | 1.1 bn | 792.0 m | esef· 02 Jun 2026verified |
| Total liabilities | 2.2 bn | 2.5 bn | 2.1 bn | esef· 02 Jun 2026verified |
| Equity | 1.2 bn | 921.0 m | 946.0 m | esef· 02 Jun 2026verified |
| Shares outstanding at year end | 365.7 m | 358.9 m | 355.9 m | esef· 02 Jun 2026derived |
Cash flow · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 506.0 m | 429.0 m | 484.0 m | esef· 02 Jun 2026verified |
| Capex | 158.0 m | 122.0 m | 72.0 m | esef· 02 Jun 2026verified |
| Free cash flow | 348.0 m ≈ | 307.0 m ≈ | 412.0 m ≈ | esef· 02 Jun 2026derived |
| Investing cash flow | -231.0 m | -127.0 m | -114.0 m | esef· 02 Jun 2026verified |
| Financing cash flow | -865.0 m | 48.0 m | -459.0 m | esef· 02 Jun 2026verified |
| Dividends paid | 233.0 m | 152.0 m | 0 | esef· 02 Jun 2026verified |
| Share repurchases | — | 0 | 5.0 m | esef· 02 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 46 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 4.0 bn GBP
Key indicators
Coverage and freshness
Score by group
- Quality55
- Returns41
- Balance sheet36
- Valuation44
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Neutral profile · Score 46/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.8% | 46 (vs peers) | 17% |
| Net margin · Quality | 0.9% | 26 (vs peers) | 10% |
| FCF conversion · Quality | 1,961.9% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 1.3x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.9x | 89 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 191.1x | 0 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 10.3% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 0.1% | 2 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality55/100 · 3/3 factors with a value
- Returns41/100 · 2/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BURBERRY GROUP PLC (BRBY.L). Latest full fiscal year: 2026; data up to 2026-03-28.
Figures computed from the financial statements: revenue 2.4 bn GBP in 2026; YoY growth -1.7%; net margin 0.9%; ROE 2.3%.
The estimated value range is 6.78–9.21 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 7.81 GBP, the price of 11.28 GBP leaves a potential of -30.7% (value / price − 1) and a margin of safety of -44.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 46/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 1,961.9%
- Current ratio: 1.9x
- FCF yield: 10.3%
- Payout ratio (FCF): 0.0%
What contradicts it
- Net margin: 0.9%
- Interest coverage: 1.3x
- P/E (TTM): 191.1x
- Shareholder yield (distributions): 0.1%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BRBY.LBurberry Group PLC | 4.0 bn | 191.1 | 2.3% | 0.9% | −1.7% | −1% / −23% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for BRBY.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 6.25 Total return -45% · Per year -45% | 11.09 Total return -2% · Per year -2% | 16.75 Total return 49% · Per year 49% |
| 3 years | 5.34 Total return -53% · Per year -22% | 10.72 Total return -5% · Per year -2% | 17.88 Total return 59% · Per year 17% |
| 5 years | 4.56 Total return -60% · Per year -17% | 10.37 Total return -8% · Per year -2% | 19.10 Total return 69% · Per year 11% |
- Exit P/E± 2.68
- Net margin± 1.88
- Annual revenue growth± 1.64
- Annual dilution± 0.16
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Burberry Group plc is a British luxury brand known mainly for its trench coat and gabardine, active in more than 140 countries and territories 1. The company is executing its Burberry Forward strategy, launched in November 2024, which focuses on brand, outerwear and distribution, in a market where personal luxury demand eased slightly in 2025 1.
SWOT
Strengths
- Burberry has a strong British heritage and iconic products such as the trench coat and gabardine, which support brand recognition 1.
- Its broad global presence, across more than 140 countries and territories, gives the company a diversified base of markets 1.
- The Burberry Forward strategy has a clear direction, and the company reported progress in strengthening the brand and outerwear categories 1.
Weaknesses
Opportunities
Threats
- An uncertain macroeconomic context and tariffs could reduce spending by aspirational customers 1.
- Competition from sportswear and accessible luxury brands could limit growth in core categories 1.
- The Middle East conflict, which has caused volatility since February 2026, could affect demand in the region 1.
Risks
- Volatile demand in Asiahigh
A fall in demand in Mainland China and intensifying local competition could affect revenue if these trends persist 1.
- Price sensitivitymedium
Aspirational customers may prefer accessible luxury, which could pressure margins and sales in entry-level categories 1.
- Climate and supply chain risksmedium
Managing climate, nature and water risks across the supply chain is overseen by dedicated committees, but exposure remains 1.
- Human rights compliancemedium
Risks related to modern slavery and human rights in the supply chain require continuous monitoring 1.
- Geopolitical volatilitylow
The Middle East conflict has caused volatility since February 2026, which could affect tourism and sales in the region 1.
Investment thesis
What would need to be true (bull case)
- If the Burberry Forward strategy succeeds in reigniting demand for outerwear and scarves, the company could regain the growth it seeks 1.
- British heritage and recognition of the trench coat can support premium pricing and loyalty among top customers, who remained resilient 1.
- Expansion in the Americas and the Middle East could offset weakness in other regions if positive trends persist 1.
What would break the thesis
- If the fall in demand in Mainland China and competitive pressure continue, revenue could remain under pressure 1.
- Price sensitivity and the rise of accessible luxury could limit margins in footwear and leather goods 1.
- Reducing wholesale exposure and reconfiguring distribution could slow growth during the transition period 1.
What to watch
- Sales trends in Mainland China and whether demand stabilises in Tier 1 cities2026/27
- Progress of the Burberry Forward strategy in outerwear and ready-to-wear2026/27
- Completion of the Castleford facility modernisation and British manufacturing investment2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Burberry's business model rests on its British heritage, its innovation and iconic products such as gabardine, the trench coat and scarves, partly made in Yorkshire 1. The company aims to create sustainable long-term value for customers, communities, partners, the environment, shareholders, governments and people 1. The customer is placed at the centre of decisions, and the brand is adapted through design, activations and in-store experiences 1.
The Burberry Forward strategy has four pillars: the Timeless British Luxury brand, product led by outerwear, aligning distribution with product and customer strategy, and reigniting a high-performance culture 1. In fiscal 2025/26 the company strengthened its authority in outerwear and scarves, and priorities for 2026/27 include extending into ready-to-wear and accessories 1.
Burberry manages its sustainability policies through the Burberry Beyond programme, overseen by the Board and dedicated committees, including for climate risks and the supply chain 1. Reflecting its focus on tradition, the company also cites investment in modernising its historic Castleford facility 1.
Segments
Outerwear and scarves
Outerwear, including the Heritage trench and rainwear, is the main driver of the strategy, and scarves are expanded in dedicated Scarf Bar spaces 1. The company widened its quilts and downs range, and in 2026/27 it aims to cement its authority in these categories 1.
Leather goods, footwear and ready-to-wear
Leather goods, footwear and ready-to-wear are categories where the company builds authority through entry price points and universal lines 1. According to the report, these categories were affected by price sensitivity, and Burberry sees them as areas for expansion 1.
Market context
The global personal luxury goods market generated sales of 358 billion euros in 2025, down 2% at current exchange rates but broadly stable at constant rates 1. The sector showed signs of stabilisation in the second half of the year, with growth in Latin America and a contraction in Mainland China, where the decline was 3% to 5% at constant exchange rates 1. The Americas grew 2% to 4% at constant exchange rates, while Europe, including the UK, contracted slightly 1.
Trends
- Spending shifts towards experiencestailwind
Luxury customers prioritised travel, hospitality and cultural experiences, which supported travel destinations and raised expectations for brand interactions 1.
- Selective customers and polarisationmixed
Aspirational customers became more selective and opted for accessible luxury, while top customers stayed resilient and grew as a share of market value 1.
- Value seeking and second-hand growthheadwind
After strong price increases, consumers look for more value for their money, and the second-hand market expanded, which could put pressure on entry price points if these trends persist 1.
- Creativity and cultural relevancetailwind
Distinctive design and cultural storytelling supported brand performance, particularly among younger audiences, through social platforms and shoptainment formats 1.
Competitive position
Burberry competes in the global personal luxury market, where brands operated in a context of reduced profitability and higher discounting 1. Competitive pressure also comes from sportswear and accessible luxury brands, which affected the footwear and leather goods categories 1.
- Accessible luxury and sportswear
Accessible luxury and sportswear brands put pressure on footwear and leather goods, according to the company's report 1.
- Local brands in Asia
In Mainland China, competition from local brands intensified in a market that remained difficult 1.
- Top luxury brands
Luxury brands competing for top customers benefited from the resilience of that segment, though the source does not detail them 1.
- Second-hand luxury market
The second-hand luxury market expanded, especially for heritage and rare products, creating indirect competition 1.
News & filings
In the press
- Magazine Louis Vuitton, Dior, Celine și Burberry, vandalizate și jefuite în timpul protestelor din Franța. Violențe și în Italia, în zona magazinelor de lux din MilanoFinancial Intelligence (RO) · 19 Oct 2026 · RO
- Ashley’s Frasers Boosts Position in UK Luxury Brand BurberryBloomberg Markets · 12 Oct 2026 · EN
- Burberry primăvară-vară 2027 la London Fashion Week: Daniel Lee nu mai încearcă atât de tare să ne convingă că este britanicG4Media · 23 Sept 2026 · RO
- Celia Birtwell ‘humanises’ Burberry in London fashion week closing showThe Guardian World · 21 Sept 2026 · EN
- Квартальные продажи Burberry выросли на 5% благодаря спросу в США и КитаеKommersant (RU) · 17 Jul 2026 · RU
- Burberry boss could earn up to £12.2m under new bonus schemeThe Guardian World · 28 May 2026 · RO
- Burberry stock drops even as Americas and China demand boost turnaround effortsCNBC World · 14 May 2026 · EN
- European Stocks Gain as Traders Watch US-China Talks; BurberryBloomberg Markets · 14 May 2026 · EN
Annual reports (ESEF)
- Annual report 202602 Jun 2026
- Annual report 202529 May 2025
Sources
- [1] Annual report, fiscal year ended 2026-03-28 (ESEF) · SEC / Burberry Group plc · 28 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.