Spirax-Sarco stock trades at GBp 7,240 as targets point higher
Published on 10/04/2026 at 10:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Spirax-Sarco stock (ISIN GB00BWFGQN14) was last at GBp 7,240 on the London Stock Exchange on October 2, 2026 at 4:35 p.m. London time, up 0.91 percent on the session. The market value was GBP 5.3 billion, while the 52-week range stood at GBp 5,950 to GBp 8,050.
H1 earnings improved, cash lagged
According to Investing.com, Spirax Group reported H1 2026 adjusted EPS of GBP 1.50 on August 11, 2026, up 9 percent from the prior year. Organic sales increased 5 percent, and operating margin improved to 19.8 percent.
The counterweight was cash generation. H1 cash conversion was 54 percent, while net debt to EBITDA reached 1.6x, above the company's stated 1.0x to 1.5x target range, according to Investing.com. That combination explains why stronger earnings have not translated into a clear valuation reset.
Consensus sits above the quote
MarketBeat reported on September 10, 2026 that nine brokerages assigned Spirax-Sarco a Hold consensus, with five Holds, three Buys and one Sell. The average 12-month target was GBp 8,155, which is 12.6 percent above the GBp 7,240 reference price.
The target spread shows a divided view: Berenberg's GBp 7,350 target is close to the market, while Jefferies' GBp 8,740 target implies a more optimistic recovery case. MarketBeat reported on October 1, 2026 that Deutsche Bank reaffirmed a Hold rating and kept its target at GBp 7,500.
November update is next
Spirax Group's investor-relations calendar lists a trading update for November 11, 2026, followed by full-year results on March 9, 2027, on its investor page. The next update will therefore test whether sales growth can convert into stronger cash generation and lower leverage.
Stock remains below yearly high
At GBp 7,240 on October 2, 2026, Spirax-Sarco stock was 10.1 percent below its GBp 8,050 52-week high and 21.7 percent above its GBp 5,950 low. The valuation debate now turns on cash conversion as much as on the 9 percent H1 adjusted EPS increase.
Spirax-Sarco stock facts
- Company: Spirax-Sarco Engineering plc
- ISIN: GB00BWFGQN14
- Ticker: SPX
- Trading venue: London Stock Exchange
- Price (as of October 2, 2026, 4:35 p.m. London time): GBp 7,240
- Market capitalization: GBP 5.3 billion (as of October 2, 2026)
- 52-week range: GBp 5,950-8,050 (as of October 2, 2026)
- Sector / Industry: Industrials / Machinery, tools, heavy vehicles, trains and ships
- Index membership: FTSE 100
Upcoming dates for Spirax-Sarco stock
- November 11, 2026: Trading update
- March 9, 2027: Full-year results
