olivLaw · European equity research
Savills plc SVS.L
United Kingdom · London Stock Exchange · ISIN GB00B135BJ46 · Vertical: Listed companies from United Kingdom
Savills plc is a UK-listed real estate services company active globally in residential, consultancy, property management and investment. In fiscal 2025 underlying profit before tax rose 11%, and Simon Shaw took over as Group CEO from 1 January 2026. With transaction markets steadier, the group's momentum could hold if recurring income keeps growing.
At the close of 05 Nov 2026, Savills plc (SVS.L) stock was 11.64 GBP (+0.00% on the day), with market capitalisation 1.6 bn GBP, P/E 23.6 on diluted EPS of 0.49 GBP over the last 12 months, dividend yield 2.90%, beta 0.67, 52-week range 8.08–11.64 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)
- 79.8
- overbought (≥ 70)
- Bollinger (20, 2)
- 9.49 – 11.67
- in the upper half of the band · %B 0.99 · band width 20.6%
- SMA 50 / 200
- 10.30 / 9.46
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.37 / 0.24
- 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 | +19.6% | −0.6% | +20.3 pp | — |
| 3 months | +19.3% | −4.2% | +23.4 pp | — |
| 6 months | +37.3% | +4.3% | +32.9 pp | — |
| Year to date | +16.9% | +7.5% | +9.4 pp | — |
| 1 year | +16.6% | +9.9% | +6.7 pp | +5.8% |
| 3 years | +43.3% | +49.8% | −6.5 pp | +26.3% |
| 5 years | −17.7% | +42.8% | −60.5 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 33 percentile of its own 3-quarter history (min 20.2, median 27.8, max 33.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2.2 bn | 2.4 bn | 2.6 bn |
| Revenue YoY | unavailable | +7.4% | +6.1% |
| Net income | 40.8 m | 53.6 m | 70.9 m |
| Net income YoY | unavailable | +31.4% | +32.3% |
| Diluted EPS | 0.29 | 0.37 | 0.49 |
| Diluted EPS YoY | unavailable | +29.2% | +32.5% |
| net % | 1.8% | 2.2% | 2.8% |
| Free cash flow | 1.4 m | 146.9 m | 144.5 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 531.6 m GBP
- Financial debt
- 176.7 m GBP
- Net debt
- -354.9 m GBP
- Equity
- 804.4 m GBP
- Total assets
- unavailable GBP
- Debt / equity
- 0.22x
- Current ratio
- 1.17x
- ROE
- 9.0%
- ROA
- unavailable
- FCF margin
- 5.7%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 2.2 bn | 2.4 bn | 2.6 bn | esef· 12 May 2026verified |
| Operating income | 43.3 m | 73.8 m | 93.5 m | esef· 12 May 2026verified |
| Interest expense | 38.5 m | 43.0 m | 41.9 m | esef· 12 May 2026verified |
| Pre-tax income | 55.4 m | 88.3 m | 101.0 m | esef· 12 May 2026verified |
| Income tax | 15.9 m | 35.4 m | 27.4 m | esef· 12 May 2026verified |
| Net income | 40.8 m | 53.6 m | 70.9 m | esef· 12 May 2026verified |
| Diluted EPS | 0.29 | 0.37 | 0.49 | esef· 12 May 2026verified |
| Dividend per share | 0.23 | 0.30 | 0.34 | esef· 12 May 2026verified |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 506.6 m | 536.5 m | 531.6 m | esef· 12 May 2026verified |
| Receivables | 656.7 m | 718.9 m | 769.9 m | esef· 12 May 2026verified |
| Inventories | — | 0 | 1.0 m | esef· 12 May 2026verified |
| Current assets | 1.2 bn | 1.3 bn | 1.3 bn | esef· 12 May 2026verified |
| Property, plant & equipment, net | 68.1 m | 62.3 m | 70.5 m | esef· 12 May 2026verified |
| Goodwill | 443.6 m | 459.0 m | 463.8 m | esef· 12 May 2026verified |
| Intangibles (excl. goodwill) | 55.8 m | 51.8 m | 42.3 m | esef· 12 May 2026verified |
| Accounts payable | 682.5 m | 729.7 m | 759.6 m | esef· 12 May 2026verified |
| Short-term debt | 7.9 m | 41.3 m | 48.0 m | esef· 12 May 2026verified |
| Long-term debt | 149.3 m | 119.6 m | 128.7 m | esef· 12 May 2026verified |
| Current liabilities | 992.6 m | 1.1 bn | 1.1 bn | esef· 12 May 2026verified |
| Equity | 752.8 m | 777.8 m | 804.4 m | esef· 12 May 2026verified |
| Shares outstanding at year end | 136.0 m | 136.0 m | 136.3 m | esef· 12 May 2026derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 18.8 m | 158.6 m | 172.3 m | esef· 12 May 2026verified |
| Capex | 17.4 m | 11.7 m | 27.8 m | esef· 12 May 2026verified |
| Free cash flow | 1.4 m ≈ | 146.9 m ≈ | 144.5 m ≈ | esef· 12 May 2026derived |
| Investing cash flow | -21.8 m | -20.7 m | -43.9 m | esef· 12 May 2026verified |
| Financing cash flow | -136.2 m | -112.5 m | -104.9 m | esef· 12 May 2026verified |
| Dividends paid | 51.0 m | 33.8 m | 43.2 m | esef· 12 May 2026verified |
| Share repurchases | 26.3 m | 22.9 m | 17.4 m | esef· 12 May 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: 55 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.6 bn GBP
Key indicators
Coverage and freshness
Score by group
- Quality63
- Returns73
- Balance sheet19
- Valuation54
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 55/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 16.0% | 63 (vs peers) | 17% |
| Net margin · Quality | 2.8% | 29 (vs peers) | 10% |
| FCF conversion · Quality | 203.8% | 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 | 2.2x | 11 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.2x | 31 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 23.6x | 17 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.1% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.8% | 55 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 29.9% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet19/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality63/100 · 3/3 factors with a value
- Returns73/100 · 2/2 factors with a value
- Valuation54/100 · 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
SAVILLS PLC (SVS.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 2.6 bn GBP in 2025; YoY growth 6.1%; net margin 2.8%; ROE 9.4%.
The estimated value range is 5.57–8.58 GBP per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 7.11 GBP, the price of 11.64 GBP leaves a potential of -38.9% (value / price − 1) and a margin of safety of -63.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 55/100, 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: 203.8%
- FCF yield: 9.1%
- Payout ratio (FCF): 29.9%
What contradicts it
- Net margin: 2.8%
- Interest coverage: 2.2x
- P/E (TTM): 23.6x
- 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% |
| 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% |
| SVS.LSavills PLC | 1.6 bn | 23.6 | 9.4% | 2.8% | +6.1% | +14% / +47% |
| 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 SVS.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 | 7.37 Total return -34% · Per year -34% | 13.03 Total return 15% · Per year 15% | 19.61 Total return 72% · Per year 72% |
| 3 years | 7.39 Total return -29% · Per year -11% | 14.67 Total return 36% · Per year 11% | 24.21 Total return 121% · Per year 30% |
| 5 years | 7.41 Total return -24% · Per year -5% | 16.52 Total return 60% · Per year 10% | 29.89 Total return 181% · Per year 23% |
- Exit P/E± 3.67
- Net margin± 2.57
- Annual revenue growth± 2.08
- Annual dilution± 0.22
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
Savills plc is a UK-listed real estate services company active globally in residential, consultancy, property management and investment. In fiscal 2025 underlying profit before tax rose 11%, and Simon Shaw took over as Group CEO from 1 January 2026 1. With transaction markets steadier, the group's momentum could hold if recurring income keeps growing.
SWOT
Strengths
- A diversified global platform with income from several business lines and solid recurring services.
- Profit and margin growth in fiscal 2025 point to improved operating discipline.
- A renewed leadership team with a planned transition to group leadership.
Weaknesses
- Transaction revenue remains sensitive to the economic cycle and the interest rate environment.
- Some geographies, such as Continental Europe and North America, have had uneven performance in the past.
- Restructuring and leadership change costs may weigh on short-term results.
Opportunities
- Extending facilities management in Asia through the Singapore acquisition could add recurring revenue.
- Selective acquisitions in residential and property management could accelerate growth.
- Digitalising valuations and the Athena database could improve efficiency and client service.
Threats
- Trade tensions and geopolitical uncertainty could again reduce transaction activity.
- Competition from large global networks could squeeze consultancy margins.
- Regulatory and tax changes in operating markets could raise costs.
Risks
- Dependence on the transaction cyclehigh
A fall in transaction volumes could weigh on consultancy and investment revenue.
- Execution of the leadership transitionmedium
Changes at group level and in regional committees could delay strategic decisions.
- Macroeconomic and geopolitical riskhigh
The company flagged uncertainty about economic and geopolitical conditions for 2026.
- Technology implementation riskmedium
Digitalisation projects and accounting system migration carry operational and cybersecurity risk.
- Incentive planslow
No PSP was granted in 2025 and the 2026 terms are still under review, which may affect pay alignment.
Investment thesis
What would need to be true (bull case)
- If margin gains hold, profit could keep benefiting from operating scale.
- Growth in occupier services and property management could reduce reliance on transactions.
- If transaction markets stay stable, the fiscal 2025 advance could be consolidated.
What would break the thesis
- If trade tensions return, transactions could fall quickly and weigh on profit.
- Strong competition in consultancy could limit margin expansion.
- The leadership transition and reorganisations may bring costs and execution delays.
What to watch
- Evolution of group margin against 5.7% in fiscal 20252026
- Results of Savills Investment Management and the Samsung Life relationship2026
- Integration of the Alpina Holdings acquisition in Singapore2026
- Terms of the new incentive plans for 20262026
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
Savills provides real estate services to investors, developers, occupiers and private owners, with regional platforms across EMEA and Asia Pacific 1. The offer spans transactions, consultancy, property management, occupier services and investment through Savills Investment Management. Group margin reached 5.7% in fiscal 2025, up from 5.4% in fiscal 2024, and underlying profit before tax was £145.3m 1.
The operating structure pairs the Savills brand with specialist divisions, and the group reorganised its EMEA and Asia Pacific executive committees across 2024 and 2025. The CEO change, with Simon Shaw becoming Group CEO from 1 January 2026, marks a new leadership stage 1.
The group expanded integrated facilities management, including an initial 70% interest in Alpina Holdings in Singapore completed in December 2025 1. The move aims to build recurring service income beyond the transaction cycle.
Segments
Global Occupier Services (GOS)
Occupier services grew organically by 13% in fiscal 2025, one of the group's faster-growing lines 1. Growth rests on long-term corporate contracts and expansion in Asia Pacific.
Global Residential
Residential revenue reached £293.6m in fiscal 2025, up 9% year-on-year 1. The division is assessing selective acquisitions in Paris, Portugal, Madrid, Australia and Singapore.
Savills Investment Management
The investment division reported underlying profit before tax of £13.8m in fiscal 2025, a 37% improvement 1. The relationship with Samsung Life remains central to its asset management strategy.
Market context
Transaction activity stabilised in the second half of fiscal 2025 after disruption from US tariffs in the second quarter 1. The rise in group margin suggests operating scale began to pay off, but the sector stays sensitive to macroeconomic and geopolitical conditions.
The company points to uncertain macroeconomic and geopolitical conditions ahead, which affects the timing of long-term incentive awards 1. The real estate services market remains fragmented, with strong competition from large global networks.
Trends
- Transaction recoverytailwind
More active transaction markets in the first and fourth quarters supported operating profit growth 1. If deal flow consolidates, consultancy revenue could benefit directly.
- Recurring servicestailwind
Expansion of occupier services and property management reduces reliance on the transaction cycle and steadies revenue 1.
- Macroeconomic uncertaintyheadwind
Trade tariffs and geopolitical tensions weighed on activity in fiscal 2025 and encouraged caution in planning for 2026 1.
- Digitalisation and datamixed
Investment in the Athena database, digital valuation tools and accounting systems may lower costs, but it carries spending and implementation risk 1.
Competitive position
Savills competes with global real estate services networks and with firms specialising in consultancy, property management and investment. Differentiation rests on regional presence and integrated offers for occupiers and investors 1.
Competition is intense in consultancy and investment, where larger firms can use scale to lower service prices. The company aims to offset this through margin gains and integrated services 1.
- CBRE GroupCBRE
Global real estate services network comparable in activity and geographic reach.
- JLL (Jones Lang LaSalle)JLL
Global competitor in transactions, consultancy and property management.
- Cushman & WakefieldCWK
Real estate services and consultancy provider with international presence.
- Colliers International
Real estate services firm active in several regions, listed outside the United States.
News & filings
In the press
Annual reports (ESEF)
- Annual report 202512 May 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Savills 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.