olivLaw · European equity research
Reckitt Benckiser Group plc RKT.L
United Kingdom · London Stock Exchange · ISIN GB00BSZBP530 · Vertical: Listed companies from United Kingdom
Reckitt is a British health and hygiene company now focused on 11 Powerbrands such as Dettol, Durex, Nurofen and Lysol. In 2025 Core Reckitt like-for-like net revenue rose 5.2%, and the company went through a major transformation, including the divestment of Essential Home.
At the close of 05 Nov 2026, Reckitt Benckiser Group plc (RKT.L) stock was 56.54 GBP (+0.07% on the day), with market capitalisation 38.4 bn GBP, P/E 12.1 on diluted EPS of 4.67 GBP over the last 12 months, beta 0.23, 52-week range 44.43–65.12 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)
- 63.7
- strong (55–70)
- Bollinger (20, 2)
- 51.20 – 57.39
- in the upper half of the band · %B 0.86 · band width 11.4%
- SMA 50 / 200
- 51.88 / 52.31
- mixed trend
- MACD (12, 26, 9)
- 1.13 / 0.98
- 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 | +13.6% | −0.6% | +14.3 pp | — |
| 3 months | +7.7% | −4.2% | +11.9 pp | — |
| 6 months | +20.7% | +4.3% | +16.3 pp | — |
| Year to date | −9.6% | +7.5% | −17.1 pp | — |
| 1 year | −7.8% | +9.9% | −17.7 pp | +5.8% |
| 3 years | −1.1% | +49.8% | −50.9 pp | +26.3% |
| 5 years | −10.0% | +42.8% | −52.8 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 0 percentile of its own 3-quarter history (min 13.4, median 24.7, max 24.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 14.6 bn | 14.2 bn | 14.2 bn |
| Revenue YoY | unavailable | −3.0% | +0.3% |
| Net income | 1.6 bn | 1.4 bn | 3.2 bn |
| Net income YoY | unavailable | −13.2% | +123.1% |
| Diluted EPS | 2.29 | 2.03 | 4.67 |
| Diluted EPS YoY | unavailable | −11.1% | +129.9% |
| net % | 11.2% | 10.1% | 22.4% |
| Free cash flow | 2.3 bn | 2.3 bn | 1.8 bn |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.0 bn GBP
- Financial debt
- 7.6 bn GBP
- Net debt
- 5.7 bn GBP
- Equity
- 7.8 bn GBP
- Total assets
- 25.1 bn GBP
- Debt / equity
- 0.98x
- Current ratio
- unavailable
- ROE
- 43.9%
- ROA
- 12.6%
- FCF margin
- 12.4%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 14.6 bn | 14.2 bn | 14.2 bn | esef· 07 Apr 2026verified |
| Cost of revenue | 5.8 bn | 5.6 bn | 5.6 bn | esef· 07 Apr 2026verified |
| Gross profit | 8.8 bn | 8.6 bn | 8.6 bn | esef· 07 Apr 2026verified |
| Operating income | 2.5 bn | 2.4 bn | 4.2 bn | esef· 07 Apr 2026verified |
| Interest expense | 340.0 m | 402.0 m | 430.0 m | esef· 07 Apr 2026verified |
| Pre-tax income | 2.4 bn | 2.1 bn | 3.8 bn | esef· 07 Apr 2026verified |
| Income tax | 753.0 m | 672.0 m | 635.0 m | esef· 07 Apr 2026verified |
| Net income | 1.6 bn | 1.4 bn | 3.2 bn | esef· 07 Apr 2026verified |
| Diluted EPS | 2.29 | 2.03 | 4.67 | esef· 07 Apr 2026verified |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.4 bn | 880.0 m | 2.0 bn | esef· 07 Apr 2026verified |
| Receivables | 2.1 bn | 2.1 bn | 2.1 bn | esef· 07 Apr 2026verified |
| Inventories | 1.6 bn | 1.5 bn | 1.5 bn | esef· 07 Apr 2026verified |
| Property, plant & equipment, net | 2.4 bn | 2.4 bn | 2.5 bn | esef· 07 Apr 2026verified |
| Total assets | 27.1 bn | 25.3 bn | 25.1 bn | esef· 07 Apr 2026verified |
| Accounts payable | 5.5 bn | 5.3 bn | 5.1 bn | esef· 07 Apr 2026verified |
| Long-term debt | 6.9 bn | 7.2 bn | 7.6 bn | esef· 07 Apr 2026verified |
| Current liabilities | 8.3 bn | 7.9 bn | 6.7 bn | esef· 07 Apr 2026verified |
| Total liabilities | 18.7 bn | 18.6 bn | 17.3 bn | esef· 07 Apr 2026verified |
| Equity | 8.5 bn | 6.7 bn | 7.8 bn | esef· 07 Apr 2026verified |
| Shares outstanding at year end | 716.8 m | 700.4 m | 679.5 m | esef· 07 Apr 2026derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 2.6 bn | 2.7 bn | 2.3 bn | esef· 07 Apr 2026verified |
| Capex | 348.0 m | 370.0 m | 536.0 m | esef· 07 Apr 2026verified |
| Free cash flow | 2.3 bn ≈ | 2.3 bn ≈ | 1.8 bn ≈ | esef· 07 Apr 2026derived |
| Investing cash flow | -466.0 m | -396.0 m | 1.2 bn | esef· 07 Apr 2026verified |
| Financing cash flow | -1.8 bn | -2.7 bn | -2.4 bn | esef· 07 Apr 2026verified |
| Share repurchases | 2.0 m | 3.0 m | 3.0 m | esef· 07 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: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 38.4 bn GBP
Key indicators
Coverage and freshness
Score by group
54% · 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: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 26.5% | 79 (vs peers) | 19% |
| Net margin · Quality | 22.4% | 74 (vs peers) | 12% |
| FCF conversion · Quality | 55.3% | 36 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 9.8x | 100 (on a fixed band) | 12% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 12.1x | 72 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.6% | 57 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality66/100 · 3/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation66/100 · 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
RECKITT BENCKISER GROUP PLC (RKT.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 14.2 bn GBP in 2025; YoY growth 0.3%; net margin 22.4%; ROE 44.1%.
The estimated value range is 37.49–57.59 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 47.21 GBP, the price of 56.54 GBP leaves a potential of -16.5% (value / price − 1) and a margin of safety of -19.8% (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: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 26.5%
- Net margin: 22.4%
- Interest coverage: 9.8x
- P/E (TTM): 12.1x
What contradicts it
- Shareholder yield (distributions): 0.0%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, 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% |
| RKT.LReckitt Benckiser Group PLC | 38.4 bn | 12.1 | 44.1% | 22.4% | +0.3% | −7% / +1% |
| 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% |
| 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 RKT.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 | 32.07 Total return -43% · Per year -43% | 56.82 Total return 0% · Per year 0% | 85.75 Total return 52% · Per year 52% |
| 3 years | 28.52 Total return -50% · Per year -20% | 57.11 Total return 1% · Per year 0% | 95.00 Total return 68% · Per year 19% |
| 5 years | 25.37 Total return -55% · Per year -15% | 57.40 Total return 2% · Per year 0% | 105.24 Total return 86% · Per year 13% |
- Exit P/E± 14.28
- Net margin± 9.99
- Annual revenue growth± 8.55
- Annual dilution± 0.84
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
Reckitt is a British health and hygiene company now focused on 11 Powerbrands such as Dettol, Durex, Nurofen and Lysol. In 2025 Core Reckitt like-for-like net revenue rose 5.2% 1, and the company went through a major transformation, including the divestment of Essential Home.
SWOT
Strengths
- A portfolio of brands that are leaders in their categories and trusted by consumers, with a strategy focused on the Powerbrands 1.
- Steady like-for-like growth in Core Reckitt and the capacity to return capital to shareholders 1.
- A distinctive culture and investment in science, innovation and digital tools, including AI, to improve efficiency 1.
Weaknesses
- A broad transformation with many simultaneous actions could strain execution and the capacity of people and teams 1.
- Reliance on single-source suppliers and on a few key manufacturing sites increases supply chain vulnerability 1.
- IFRS results are affected by non-recurring items such as disposals, impairments and restructuring costs 1.
Opportunities
- Growth in emerging markets and consumer interest in premium, science-based products could support expansion 1.
- Reinvesting savings from lower fixed costs in brands and capabilities could accelerate long-term growth 1.
- The Reckitt Catalyst programme and sustainability ambitions could open new partnerships and markets 1.
Risks
- Product integrityhigh
Products that are ingested, inhaled or in direct skin contact could cause consumer harm, recalls and legal exposure, affecting trust in the brands 1.
- Technology resiliencehigh
Growing reliance on digital and AI systems exposes the company to cyber attacks and data breaches, which could disrupt critical operations 1.
- Supply chain continuitymedium
Dependence on single sources and key sites could cause product shortages and affect financial performance 1.
- Business transformationmedium
Large-scale change could lead to loss of key personnel and change fatigue, affecting execution 1.
- Macroeconomic uncertaintymedium
Inflation, interest rate shifts and exchange rate movements could affect the predictability of growth and margins 1.
Investment thesis
What would need to be true (bull case)
- If execution on the Powerbrands and growth in emerging markets continue, the company could meet its like-for-like growth and margin goals 1.
- Lower fixed costs and reinvestment of the savings could support profit growth in a durable way 1.
- Steady return of capital to shareholders, including the special dividend after the Essential Home disposal, could support investor confidence 1.
What would break the thesis
- If consumers in developed markets continue to spend cautiously, growth in core categories could stay below expectations 1.
- The broad transformation could bring unforeseen costs and delays that weigh on short-term results 1.
- Product safety and regulatory risks could lead to legal costs and damage to brand reputation 1.
What to watch
- Evolution of like-for-like growth in Core Reckitt against the 4 to 5% guidance2026
- Final impact of the Essential Home divestment and use of surplus capital2026
- Decision on strategic options for Mead Johnson Nutrition2026
- Trend in adjusted operating margin and fixed costs as a share of net revenue2026
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
Reckitt builds its business around 11 Powerbrands grouped into four categories: Self Care, Germ Protection, Household Care and Intimate Wellness 1. The strategy aims at a more focused portfolio, a simpler organisation and reinvestment in brands, innovation and the supply chain. The company says it completed the divestment of Essential Home in December 2025, which it regards as non-core to Core Reckitt 1.
The business model links brand building, a growth Playbook built on consumer obsession, innovation and execution, and operating efficiency. Surplus capital is reinvested in brands and capabilities, and the rest is returned to shareholders through buybacks and dividends 1.
Management reorganised reporting into three Areas, with accountability consolidated behind three Area Presidents, and reduced management layers. Mead Johnson Nutrition is being managed for growth, while the company continues to assess its long-term strategic options for that business 1.
Segments
Self Care
Includes Strepsils, Mucinex, Gaviscon and Nurofen, over-the-counter products that support treatment at home 1. Launches such as Nurofen MiniLiquid Capsules supported premiumisation in the category 1.
Market context
Emerging Markets is the company's largest area by net revenue, with double-digit growth across all categories in 2025, including double-digit growth in China and high single-digit growth in India 1. Management described the consumer backdrop in developed markets as challenging 1.
Medium-term guidance for Core Reckitt is to consistently deliver like-for-like net revenue growth of 4 to 5% 1. The company says this depends on in-market execution, science-led innovation and premiumisation, and outcomes could vary if consumer conditions or costs change.
Trends
- Rising interest in health, wellness and hygienetailwind
Management says global demographic and macroeconomic trends, including consumers' greater interest in health, wellness and hygiene, support its categories over the long term 1.
- Premiumisation and science-led innovationtailwind
Investment in brands and science-based innovation is presented as a driver of premiumisation and a favourable revenue mix 1.
- More cautious consumers in developed marketsheadwind
Management describes a difficult consumer backdrop in developed markets, which could limit volume growth in some categories 1.
- Geopolitical and trade pressuresmixed
Regional conflicts, shipping disruptions, tariffs and sanctions could affect costs, supply chains and market access 1.
Competitive position
The analysed source does not explicitly name Reckitt's competitors. The company describes its brands as category leaders, which places it in direct competition with other consumer companies in health, hygiene and personal care 1.
The competitive advantage presented by the company rests on brand strength, science-led innovation, in-market execution and lower fixed costs. These are described as differentiators against other players in its categories 1.
- Procter & GamblePG
Consumer company active in hygiene and personal care categories; mentioned in the source only as a sector peer, not as a named competitor.
- Colgate-PalmoliveCL
Oral care and consumer products company; a Board member has experience there, but the direct competitive relationship is not detailed in the source.
- Unilever
Consumer goods group active in hygiene and personal care; the competitive relationship is not detailed in the analysed source.
- Haleon
Consumer health company active in over-the-counter categories; the competitive relationship is not detailed in the analysed source.
News & filings
In the press
- Manufacturing output down in August; investments by Reckitt, HitachiYahoo Finance — News · 18 Sept 2026 · EN
- Reckitt Sales Boost Turnaround as Dettol Demand Soars in ChinaBloomberg Markets · 29 Jul 2026 · EN
- «Арнест» может выкупить часть бизнеса Reckitt Benckiser за 14 млрд рублейKommersant (RU) · 24 Jul 2026 · RU
- Reckitt Benckiser продаст российский бизнес по выпуску бытовой химии группе «Арнест»Kommersant (RU) · 24 Jul 2026 · RU
Annual reports (ESEF)
- Annual report 202507 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Reckitt Benckiser Group 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.