olivLaw · European equity research
The Weir Group PLC WEIR.L
United Kingdom · London Stock Exchange · ISIN GB0009465807 · Vertical: Listed companies from United Kingdom
The Weir Group PLC is a global mining technology provider offering engineered hardware and software solutions from exploration through extraction. The company relies largely on recurring aftermarket revenue and in 2025 accelerated growth through digital acquisitions, with revenue of £2,565m and total orders of £2,598m.
At the close of 05 Nov 2026, The Weir Group PLC (WEIR.L) stock was 23.58 GBP (−0.84% on the day), with market capitalisation 6.1 bn GBP, P/E 24.8 on diluted EPS of 0.95 GBP over the last 12 months, dividend yield 169,635,284.14%, beta 1.01, 52-week range 22.74–35.46 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)
- 36.2
- weak (30–45)
- Bollinger (20, 2)
- 23.98 – 27.82
- below the lower band · %B -0.10 · band width 14.8%
- SMA 50 / 200
- 26.45 / 27.61
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.43 / -0.25
- 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 | −11.4% | −0.6% | −10.8 pp | — |
| 3 months | −12.5% | −4.2% | −8.4 pp | — |
| 6 months | −8.7% | +4.3% | −13.1 pp | — |
| Year to date | −17.1% | +7.5% | −24.7 pp | — |
| 1 year | −18.5% | +9.9% | −28.4 pp | +5.8% |
| 3 years | +35.1% | +49.8% | −14.8 pp | +26.3% |
| 5 years | +29.6% | +42.8% | −13.3 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 67 percentile of its own 3-quarter history (min 18.2, median 21.5, max 29.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | unavailable | 2.6 bn | 2.5 bn | 2.6 bn |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −4.9% | +2.4% |
| Net income | unavailable | unavailable | unavailable | unavailable | unavailable | 227.9 m | 312.2 m | 246.9 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | +37.0% | −20.9% |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | 0.88 | 1.20 | 0.95 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | +37.2% | −20.9% |
| net % | unavailable | unavailable | unavailable | unavailable | unavailable | 8.6% | 12.5% | 9.6% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | 315.2 m | 382.5 m | 325.4 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 507.7 m GBP
- Financial debt
- 1.8 bn GBP
- Net debt
- 1.3 bn GBP
- Equity
- 1.9 bn GBP
- Total assets
- 4.5 bn GBP
- Debt / equity
- 0.93x
- Current ratio
- 2.05x
- ROE
- 13.1%
- ROA
- 5.9%
- FCF margin
- 12.7%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | 2.6 bn | 2.5 bn | 2.6 bn | esef· 24 Mar 2026verified |
| Operating income | — | — | — | 368.4 m | 391.0 m | 435.9 m | esef· 24 Mar 2026verified |
| Interest expense | — | — | — | 66.4 m | 65.9 m | 85.9 m | esef· 24 Mar 2026verified |
| Pre-tax income | — | — | — | 320.7 m | 347.1 m | 365.6 m | esef· 24 Mar 2026verified |
| Income tax | — | — | — | 90.8 m | 31.7 m | 118.0 m | esef· 24 Mar 2026verified |
| Net income | — | — | — | 227.9 m | 312.2 m | 246.9 m | esef· 24 Mar 2026verified |
| Diluted EPS | — | — | — | 0.88 | 1.20 | 0.95 | esef· 24 Mar 2026verified |
| Dividend per share | 0.00 | 0.24 | 0.33 | 0.39 | 40,000,000.00 | — | esef· 24 Mar 2026verified |
Balance sheet · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | — | — | 477.5 m | 447.4 m | 526.9 m | 507.7 m | esef· 24 Mar 2026verified |
| Receivables | — | — | — | 526.2 m | 546.7 m | 554.9 m | esef· 24 Mar 2026verified |
| Inventories | — | — | — | 608.1 m | 580.1 m | 647.4 m | esef· 24 Mar 2026verified |
| Current assets | — | — | — | 1.9 bn | 1.7 bn | 1.8 bn | esef· 24 Mar 2026verified |
| Property, plant & equipment, net | — | — | — | 490.5 m | 498.5 m | — | esef· 15 Apr 2025verified |
| Total assets | — | — | — | 3.9 bn | 3.8 bn | 4.5 bn | esef· 24 Mar 2026verified |
| Short-term debt | — | — | — | 286.2 m | 55.2 m | 123.7 m | esef· 24 Mar 2026verified |
| Long-term debt | — | — | — | 1.1 bn | 1.0 bn | 1.7 bn | esef· 24 Mar 2026verified |
| Current liabilities | — | — | — | 923.4 m | 746.8 m | 860.5 m | esef· 24 Mar 2026verified |
| Total liabilities | — | — | — | 2.2 bn | 1.9 bn | 2.6 bn | esef· 24 Mar 2026verified |
| Equity | — | — | 1.7 bn | 1.7 bn | 1.9 bn | 1.9 bn | esef· 24 Mar 2026verified |
| Shares outstanding at year end | — | — | — | 258.4 m | 257.8 m | 258.0 m | esef· 24 Mar 2026derived |
Cash flow · GBP
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | 394.3 m | 449.9 m | 385.4 m | esef· 24 Mar 2026verified |
| Capex | — | — | — | 79.1 m | 67.4 m | 60.0 m | esef· 24 Mar 2026verified |
| Free cash flow | — | — | — | 315.2 m ≈ | 382.5 m ≈ | 325.4 m ≈ | esef· 24 Mar 2026derived |
| Investing cash flow | — | — | — | -70.6 m | -52.8 m | -853.5 m | esef· 24 Mar 2026verified |
| Financing cash flow | — | — | — | -322.5 m | -301.9 m | 477.2 m | esef· 24 Mar 2026verified |
| Share repurchases | — | — | — | 24.0 m | 13.2 m | 10.0 m | esef· 24 Mar 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: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 6.1 bn GBP
Key indicators
Coverage and freshness
Score by group
58% · 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: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 10.5% | 46 (vs peers) | 18% |
| Net margin · Quality | 9.6% | 46 (vs peers) | 11% |
| FCF conversion · Quality | 131.8% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 5.1x | 55 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 2.0x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 24.8x | 11 (vs peers) | 18% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.3% | 67 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 0.2% | 2 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet73/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality61/100 · 3/3 factors with a value
- Returns· partial2/100 · 1/2 factors with a value
- Valuation36/100 · 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
WEIR GROUP PLC(THE) (WEIR.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 2.4%; net margin 9.6%; ROE 13.2%.
The estimated value range is 11.38–18.26 GBP per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 14.17 GBP, the price of 23.58 GBP leaves a potential of -39.9% (value / price − 1) and a margin of safety of -66.4% (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: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 131.8%
- Current ratio: 2.0x
What contradicts it
- P/E (TTM): 24.8x
- Shareholder yield (distributions): 0.2%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, 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% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| WEIR.LWeir Group Plc(the) | 6.1 bn | 24.8 | 13.2% | 9.6% | +2.4% | −15% / +26% |
| 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 WEIR.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 | 13.72 Total return -39% · Per year -39% | 24.29 Total return 7% · Per year 7% | 36.62 Total return 60% · Per year 60% |
| 3 years | 12.75 Total return -37% · Per year -14% | 25.44 Total return 21% · Per year 6% | 42.20 Total return 95% · Per year 25% |
| 5 years | 11.84 Total return -35% · Per year -8% | 26.65 Total return 35% · Per year 6% | 48.63 Total return 135% · Per year 19% |
- Exit P/E± 6.36
- Net margin± 4.45
- Annual revenue growth± 3.73
- Annual dilution± 0.37
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
The Weir Group PLC is a global mining technology provider offering engineered hardware and software solutions from exploration through extraction. The company relies largely on recurring aftermarket revenue and in 2025 accelerated growth through digital acquisitions, with revenue of £2,565m 1 and total orders of £2,598m 1.
SWOT
Strengths
- Strong position in the aftermarket, with an extensive installed base and high recurring revenue.
- Global presence close to customers, enabling fast service in most major mining regions.
- Integrated portfolio of equipment and software, supported by recent digital acquisitions.
Weaknesses
- Relatively high exposure to copper and a few other commodities, making performance sensitive to their price cycles.
- Integrating several acquisitions at once can absorb management resources and delay expected benefits.
- The safety performance did not advance as intended in 2025, pointing to an area needing improvement.
Opportunities
- Rising demand for critical metals could generate new projects and expansions of existing operations.
- Expansion in software and digital solutions could increase recurring revenue and margins.
- New markets such as phosphate in North America and Saudi Arabia could open additional revenue sources.
Threats
- A fall in metal prices could reduce customer investment and order volumes.
- Geopolitical tensions and local disruptions in mining could affect supply chains.
- Competition from software providers and equipment makers could pressure margins.
Risks
- Exposure to mining cycleshigh
Customer activity depends on commodity prices, and a decline could reduce orders for parts and equipment.
- Operational safetyhigh
Safety performance did not progress as intended in 2025, and incidents could affect reputation and costs.
- Acquisition integrationmedium
Integrating Micromine, Townley and ESEL could face difficulties or delays in achieving expected synergies.
- Climate and physical risksmedium
Extreme weather could disrupt facilities or supply chains, and the assessment of this risk is due to be updated.
- Carbon pricinglow
Measures such as the EU Carbon Border Mechanism could raise production costs.
Investment thesis
What would need to be true (bull case)
- A high share of aftermarket revenue and a large installed base could support growth even when customers reduce new investment.
- Acquisitions in software and digital could lift recurring revenue and long-term margins if integration proceeds as planned.
- Structural demand for critical metals could expand the mining projects Weir serves across several regions.
What would break the thesis
- Dependence on copper, gold and iron ore prices could leave revenue vulnerable to declines in these commodities.
- Several simultaneous acquisitions could raise integration risk and delay the realisation of financial benefits.
- Competition in software and equipment could limit the company's ability to sustain the high margins of recent years.
What to watch
- Delivery of the targeted organic revenue growth and operating margin expansion2026
- Progress of the Performance Excellence programme and realisation of the final planned savings2026
- Integration of Micromine, Townley and ESEL and their contribution to orders2026
- Evolution of safety performance against the revitalised safety strategynext 10-K
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
Weir designs, manufactures and services mining equipment and digital solutions, organised in two global divisions: ESCO, with revenue of £709m 1, and Minerals, with revenue of £1,856m 1. ESCO supplies wear parts and attachments, while Software Solutions, including Micromine, offers equipment-agnostic software. The group has a global footprint, with the largest sales share in North America (32% 1) and South America (21% 1).
The business model is strongly aftermarket-biased: about 80% of revenue comes from recurring parts and consumables 1. This reduces dependence on customers' new investment and supports revenue even when commodity prices are volatile.
In 2025 the company completed the Micromine and Townley acquisitions and announced full ownership of ESEL in Chile. These transactions extend its reach into software, phosphate and the Chilean market, and their integration into the One Weir platform is ongoing.
Segments
Minerals
The Minerals Division, with revenue of £1,856m 1 in 2025, develops and services high-wear processing technology for comminution, processing and tailings. It includes WARMAN and GEHO pumps and digital solutions for equipment performance, and 75% of its revenue is from aftermarket 1.
ESCO
The ESCO Division, with revenue of £709m 1, supplies ground engaging tools and attachments and includes the Micromine software and AI-powered monitoring technologies. Almost all its revenue comes from aftermarket, and software has been strengthened by the Micromine acquisition.
Market context
Demand for critical metals such as copper, lithium, nickel and cobalt is rising with electrification and digital infrastructure, and copper is the company's largest commodity exposure at 23% of revenue 1. Over the long term, high prices for gold (11% of revenue 1) and iron ore (10% 1) support existing mining activity.
Miners are currently focused on maximising output from existing operations, which favours wear parts and brownfield projects, while large new investments remain under pressure. Government policies aimed at diversifying critical minerals supply chains could create opportunities across more geographies.
Trends
- Demand for critical metalstailwind
Electrification, power grids and data centres support demand for copper and other critical minerals, which could generate new projects for Weir's equipment.
- High gold and copper pricestailwind
Prices near historic highs encourage miners to increase output at existing operations, supporting demand for spare parts.
- Deferred new investment projectsheadwind
Customers favour brownfield projects and original equipment orders were stable, which limits rapid growth in new equipment sales.
- Nickel and lithium pricesmixed
Nickel and lithium prices have stabilised below previous peaks and production is subdued in several regions, including Australia, which could weigh on orders in these segments.
Competitive position
Weir competes with mining and mineral processing equipment makers as well as with mine planning software providers. Its main advantages are a global presence close to mines and an installed base that generates recurring spare parts revenue.
Competition is intensifying in software, where the company has expanded its portfolio through acquisitions. Differentiation depends on combining engineered hardware with equipment-agnostic digital solutions.
- Metso Outotec
Finnish mineral processing equipment supplier competing directly in comminution and pumping.
- FLSmidth
Danish equipment and services supplier for mining and cement, active in processing and tailings handling.
- Komatsu
Japanese mining equipment maker, relevant to wear parts and attachments used on excavators.
- Hexagon
Software and measurement technology provider competing in digital solutions for mining operations.
News & filings
In the press
- Peter Weir receives inaugural AFTRS lifetime achievement awardThe Guardian World · 11 Jun 2026 · RO
Annual reports (ESEF)
- Annual report 202524 Mar 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / The Weir 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.