olivLaw · European equity research
Clarkson PLC CKN.L
United Kingdom · London Stock Exchange · ISIN GB0002018363 · Vertical: Listed companies from United Kingdom
Clarkson PLC is a broker and market-information provider for the global shipping industry, with revenue of £631.4m in fiscal 2025, down from the prior year. The group carries no borrowings, and geopolitical tensions and currency movements are now the main items to monitor.
At the close of 05 Nov 2026, Clarkson PLC (CKN.L) stock was 47.10 GBP (−3.21% on the day), with market capitalisation 1.4 bn GBP, P/E 22.1 on diluted EPS of 2.13 GBP over the last 12 months, dividend yield 1.63%, beta 0.52, 52-week range 35.05–54.05 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)
- 31.4
- weak (30–45)
- Bollinger (20, 2)
- 47.80 – 54.73
- below the lower band · %B -0.10 · band width 13.5%
- SMA 50 / 200
- 50.87 / 47.20
- mixed trend
- MACD (12, 26, 9)
- -0.63 / -0.16
- MACD below 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 | −8.7% | −0.6% | −8.1 pp | — |
| 3 months | −5.6% | −4.2% | −1.4 pp | — |
| 6 months | −2.4% | +4.3% | −6.8 pp | — |
| Year to date | +23.5% | +7.5% | +15.9 pp | — |
| 1 year | +29.9% | +9.9% | +20.0 pp | +5.8% |
| 3 years | +75.4% | +49.8% | +25.6 pp | +26.3% |
| 5 years | +16.2% | +42.8% | −26.7 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 3-quarter history (min 11.6, median 14.4, max 17.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | unavailable | 639.4 m | 661.4 m | 631.4 m |
| Revenue YoY | unavailable | unavailable | +3.4% | −4.5% |
| Net income | unavailable | 83.8 m | 84.9 m | 65.7 m |
| Net income YoY | unavailable | unavailable | +1.3% | −22.6% |
| Diluted EPS | unavailable | 2.74 | 2.75 | 2.13 |
| Diluted EPS YoY | unavailable | unavailable | +0.6% | −22.6% |
| net % | unavailable | 13.1% | 12.8% | 10.4% |
| Free cash flow | unavailable | 147.3 m | 109.0 m | 58.9 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 401.1 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- 527.8 m GBP
- Total assets
- unavailable GBP
- Debt / equity
- unavailable
- Current ratio
- 1.78x
- ROE
- 12.8%
- ROA
- unavailable
- FCF margin
- 9.3%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | — | 639.4 m | 661.4 m | 631.4 m | esef· 15 Apr 2026verified |
| Cost of revenue | — | 30.4 m | 33.7 m | 39.1 m | esef· 15 Apr 2026verified |
| Gross profit | — | 609.0 m | 627.7 m | 592.3 m | esef· 15 Apr 2026verified |
| Operating income | — | 99.8 m | 98.5 m | 74.3 m | esef· 15 Apr 2026verified |
| Interest expense | — | 2.2 m | 1.9 m | 2.4 m | esef· 15 Apr 2026verified |
| Pre-tax income | — | 108.8 m | 112.1 m | 86.7 m | esef· 15 Apr 2026verified |
| Income tax | — | 23.0 m | 25.8 m | 20.1 m | esef· 15 Apr 2026verified |
| Net income | — | 83.8 m | 84.9 m | 65.7 m | esef· 15 Apr 2026verified |
| Diluted EPS | — | 2.74 | 2.75 | 2.13 | esef· 15 Apr 2026verified |
| Dividend per share | 0.64 | 0.72 | 0.77 | — | esef· 15 Apr 2026verified |
Balance sheet · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 384.4 m | 398.9 m | 431.3 m | 401.1 m | esef· 15 Apr 2026verified |
| Receivables | — | 147.5 m | 130.5 m | 201.2 m | esef· 15 Apr 2026verified |
| Current assets | — | 591.0 m | 632.8 m | 683.7 m | esef· 15 Apr 2026verified |
| Property, plant & equipment, net | — | 28.5 m | 28.5 m | 27.0 m | esef· 15 Apr 2026verified |
| Current liabilities | — | 371.3 m | 358.7 m | 384.1 m | esef· 15 Apr 2026verified |
| Equity | 413.2 m | 456.6 m | 495.7 m | 527.8 m | esef· 15 Apr 2026verified |
| Shares outstanding at year end | — | 30.5 m | 30.6 m | 30.7 m | esef· 15 Apr 2026derived |
Cash flow · GBP
| Line | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | — | 155.3 m | 114.7 m | 64.4 m | esef· 15 Apr 2026verified |
| Capex | — | 8.0 m | 5.7 m | 5.5 m | esef· 15 Apr 2026verified |
| Free cash flow | — | 147.3 m ≈ | 109.0 m ≈ | 58.9 m ≈ | esef· 15 Apr 2026derived |
| Investing cash flow | — | -38.6 m | -16.8 m | -4.9 m | esef· 15 Apr 2026verified |
| Financing cash flow | — | -90.0 m | -70.7 m | -80.6 m | esef· 15 Apr 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 weight coverage: 41.7% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.4 bn GBP
Key indicators
Coverage and freshness
Score by group
42% · Insufficient data
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
Insufficient data
Minimum-evidence gate: score weight coverage: 41.7% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 10.4% | 46 (vs peers) | 15% |
| FCF conversion · Quality | 89.6% | 85 (on a fixed band) | 15% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 31.0x | 100 (on a fixed band) | 15% |
| Current ratio · Balance sheet | 1.8x | 82 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 22.1x | 28 (vs peers) | 25% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.1% | 51 (on a fixed band) | 20% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet93/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality65/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation38/100 · 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
CLARKSON PLC (CKN.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 631.4 m GBP in 2025; YoY growth -4.5%; net margin 10.4%; ROE 12.9%.
The estimated value range is 15.79–23.20 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 19.53 GBP, the price of 47.10 GBP leaves a potential of -58.5% (value / price − 1) and a margin of safety of -141.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 41.7% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 89.6%
- Interest coverage: 31.0x
- Current ratio: 1.8x
What contradicts it
- P/E (TTM): 22.1x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
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% |
| 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% |
| CKN.LClarkson PLC | 1.4 bn | 22.1 | 12.9% | 10.4% | −4.5% | +25% / +61% |
| 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 CKN.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 | 25.44 Total return -45% · Per year -45% | 45.20 Total return -2% · Per year -2% | 68.37 Total return 47% · Per year 47% |
| 3 years | 20.41 Total return -53% · Per year -23% | 41.19 Total return -8% · Per year -3% | 69.01 Total return 52% · Per year 15% |
| 5 years | 16.38 Total return -60% · Per year -17% | 37.54 Total return -13% · Per year -3% | 69.65 Total return 57% · Per year 10% |
- Exit P/E± 10.30
- Net margin± 7.21
- Annual revenue growth± 6.48
- Annual dilution± 0.61
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
Clarkson PLC is a broker and market-information provider for the global shipping industry, with revenue of £631.4m in fiscal 2025, down from the prior year. The group carries no borrowings, and geopolitical tensions and currency movements are now the main items to monitor 1.
SWOT
Strengths
- The group carries no borrowings and builds its balance sheet on cash and current working capital, which gives it financial flexibility 1.
- The intermediary model without principal trading positions limits exposure to asset valuations, and variable pay adjusts costs to market cycles 1.
- Geographic diversification and a broad service range, including the Sea digital tools, support resilience against volatility 1.
Weaknesses
- Revenue depends on commissions tied to transaction volumes and freight rates, which makes results sensitive to the cycle 1.
- Currency exposure is significant because revenue is mainly in US dollars while most expenses are in local currencies and reporting is in sterling 1.
- Dependence on key personnel and specialist teams makes the business vulnerable to departures to competitors 1.
Opportunities
- The green transition and new environmental rules create demand for specialist services, which the company has already expanded through dedicated teams 1.
- Clients seeking data and technology could adopt the Sea platform and other intelligence tools, which could extend recurring revenue 1.
- Opening new offices and broadening the service range could reduce reliance on the performance of any single region 1.
Threats
- Geopolitical volatility and trade tariffs could reduce shipping volumes and broker commissions 1.
- Cyber crime and data security risks could generate losses and reputational damage 1.
- Client defaults during the settlement period could lead to write-offs of the forward order book if not managed through adequate controls 1.
Risks
- Currency exposurehigh
Revenue in US dollars against expenses in local currencies creates exchange-rate risk, and a further weakening of the dollar could reduce revenue reported in sterling 1.
- Macroeconomic and geopolitical factorshigh
Changes in world trade and freight volatility could reduce commissions, and geopolitical uncertainty remains elevated 1.
- Loss of key personnelmedium
Competitors with stronger finances can attract specialists, which could weaken coverage in certain lines of business 1.
- Counterparty riskmedium
Clients failing to meet obligations could lead to write-offs of the forward order book and affect income 1.
- Cyber securitymedium
The board has identified rising cyber crime as a risk factor that has increased, which could affect client data and operations 1.
Investment thesis
What would need to be true (bull case)
- If shipping volumes and freight rates stabilise, broker commissions could recover, and the debt-free structure would support the company's flexibility 1.
- If demand for green transition advice and specialist data continues, expanding the dedicated teams could generate new revenue 1.
- The Sea digital platform could become a client retention tool if adoption rises 1.
What would break the thesis
What to watch
- Development of revenue and operating profit compared with fiscal 20252026
- Level of currency hedging for 2026 and 2027 and its effect on reported revenue2026
- Board declaration on the effectiveness of material controls, due in the 2026 annual report2026
- Shareholder vote on the Directors' Remuneration Policy at the May 2026 AGM2026
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
Clarkson acts as an intermediary between shipowners, operators and clients across freight, ship sale and purchase, finance and market research. According to the 2025 annual report, the group does not take principal trading positions, and its balance sheet relies on cash and current working capital rather than significant physical assets 1. The company is listed on the London Stock Exchange and is a member of the FTSE 250 1.
Segments
Broking
The Broking division, covering freight, ship and maritime transaction services, is the main source of commissions. Its revenue depends directly on transaction volumes and freight rates, which makes the group sensitive to shipping market cycles 1.
Financial
The Financial division provides settlement and client risk management services. According to the report, the group takes on counterparty exposure only in exceptional cases, when a client fails to meet obligations during the settlement period 1.
Research and data
The company develops market-intelligence tools and the Sea digital platform, used by brokers and clients for commercial decisions and environmental reporting. The report describes these tools as part of its digital transformation strategy 1.
Market context
Clarkson operates in international shipping, where revenue is linked to global trade and the freight cycle. The annual report states that world seaborne trade grew in 2025, but geopolitical uncertainty, including US tariffs and tensions in the Middle East, stayed elevated 1. Revenue could come under pressure if volumes or freight rates fall.
Client demand for technology, data and environmental reporting creates opportunities for an advisory firm that can extend its services. The green transition, linked to the IMO target for 2030, is cited in the report as a growth area 1.
Trends
- Geopolitical tensions and tariffsmixed
US tariffs, tensions in the Middle East and the Russia-Ukraine conflict could change demand and freight rates, and volatility affects broker commissions 1.
- The green transitiontailwind
Environmental regulation and the IMO targets for 2030 create demand for specialist advice and data, which could support new revenue if the dedicated teams expand 1.
- Digitalisation of the industrytailwind
Clients are turning to technology for efficiency and intelligence, which favours the company's platforms but requires continuous investment to stay competitive 1.
- Cyber riskheadwind
Rising cyber crime is cited as a risk factor that has increased, which could bring extra security costs and pressure on reputation 1.
Competitive position
The annual report does not explicitly name competitors, but it notes that rivals with stronger financial positions can attract staff with enticing packages 1. The company monitors competitors' product offerings and adjusts its own offering accordingly 1.
- Shipping brokerage firms
The annual report refers to rivals that can attract staff with financial packages, without naming them.
- Maritime information providers
The report mentions competitors developing technology and research tools, without naming them.
- Regional and specialist brokers
The company is expanding its geographic footprint, which points to local competition in specific markets.
- Digital trading platforms
Clients are increasingly drawn to technology, which brings software-based competitors into the picture.
News & filings
In the press
- Alpine F1 team defends Colapinto after Clarkson commentsCNA (Channel NewsAsia) · 25 Oct 2026 · EN
- Kelly Clarkson’s expensive purchases: A multi-million dollar real-estate portfolio that spans the countryMarketWatch — Top Stories · 19 Oct 2026 · EN
- What's going on between Kelly Clarkson and a Brooklyn store bird?BBC World News · 15 Oct 2026 · EN
- Brooklyn novelty shop reeling from 'surreal' row with Kelly Clarkson over mechanical birdBBC World News · 14 Oct 2026 · EN
- Brooklyn shop owner reports death threats from Kelly Clarkson fansThe Hill · 14 Oct 2026 · EN
- Kelly Clarkson spune cum a intrat într-un magazin din Brooklyn, iar angajatul a crezut că nu-şi permite. „Tocmai ai ratat o vânzare uriaşă”HotNews.ro · 11 Oct 2026 · RO
- British broadcasters should merge into single platform to survive, says Jeremy ClarksonThe Guardian World · 29 Sept 2026 · EN
- Kelly Clarkson, schimbare radicală de look la 44 de ani. Cum arată acum cu noua tunsoare bob - ProFM.roSurge — Google News · 24 Sept 2026 · RO
- Galerie Foto: Kelly Clarkson, schimbare radicală de look la 44 de ani. Cum arată acum cu noua tunsoare bob - ProFM.roSurge — Google News · 24 Sept 2026 · RO
- UK Shipbroker Clarkson Sees Result Boost from Hormuz DisruptionBloomberg Markets · 03 Aug 2026 · EN
- Jeremy Clarkson spune că este în remisie după ce a fost diagnosticat cu o formă „agresivă” de cancerHotNews.ro · 22 Jun 2026 · RO
- Jeremy Clarkson shares ‘aggressive’ prostate cancer diagnosisThe Guardian World · 17 Jun 2026 · RO
- Starul TV Jeremy Clarkson, prezentatorul emisiunii Top Gear, a dezvăluit că a fost diagnosticat cu cancer. „Este o formă agresivă”Antena 3 CNN · 17 Jun 2026 · RO
- Jeremy Clarkson, fostul prezentator „Top Gear”, a fost diagnosticat cu o formă „agresivă” de cancerHotNews.ro · 17 Jun 2026 · RO
- Jeremy Clarkson a fost diagnosticat cu o formă agresivă de cancer. Prezentatorul Top Gear a făcut anunțul în emisiunea saLibertatea.ro · 17 Jun 2026 · RO
- Jeremy Clarkson de la „Top Gear” a dezvăluit că suferă de o formă agresivă de cancer / ”Nu privește pe nimeni unde este localizat. Știu din mai”G4Media · 17 Jun 2026 · RO
- Vedeta de televiziune Jeremy Clarkson a dezvăluit că suferă de o formă agresivă de cancerMediafax · 17 Jun 2026 · RO
- Momente grele pentru Jeremy Clarkson. Prezentatorul Top Gear a fost diagnosticat cu o formă agresivă de cancerAdevărul · 17 Jun 2026 · RO
- Jurnalistul britanic Jeremy Clarkson, celebru pentru emisiunea „Top Gear”, suferă de o formă „agresivă” de cancerDigi24 · 17 Jun 2026 · RO
- Transfăgărășanul, inclus pe lista celor mai impresionante trasee din Europa. Cum l-a descris Jeremy ClarksonAdevărul · 12 Jun 2026 · RO
Annual reports (ESEF)
- Annual report 202515 Apr 2026
- Annual report 202423 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Clarkson PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.