Marston's

MARS · Main Market · Travel and Leisure · mcap £296m · 45.7p

Beta Briefing, track record and bull & bear case are not ready for Marston's yet.

We follow 817 UK small caps and every one of their announcements – often hundreds per company. 35 companies are already wired into a briefing: browse them.

Financials · LTM to 28 Mar 26

Source: results 12 May 26 ↗

Revenue: £893m
Operating profit: £182m
Net income: £74.6m
Free cash flow: £107m
Net debt: £1.2bn
Market cap: £292m
EV / EBIT: 8.4×
FCF yield: +36.6%
Price / book: 0.4×

Latest half-year · H1 Mar 26 vs H1 Mar 25 results 12 May 26 ↗

Revenue: £423m
Operating profit: £63.4m
Net income: £17.3m
Cash from operations: £67.7m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 Mar 26 (six months to 28 Mar 26), published 12 May 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Mar 26	FY Sep 25	FY Sep 24
Revenue	893.2	897.9	898.6
Adjusted EBITDA	205.1	205.1	192.5
Adjusted operating profit	161.0	159.9	147.2
Operating profit	181.8	179.7	151.7
Finance costs	(89.7)	(90.0)	(106.5)
Profit before tax	92.1	88.3	14.4
Tax	(17.5)	(16.7)	3.1
Net income (owners)	74.6	71.6	(18.5)
Discontinued operations	–	0.0	(36.0)
EPS basic	11.7p	11.3p	(2.9p)
EPS diluted	11.7p	11.1p	(2.8p)

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Revenue	422.7	−1%	470.5	427.4
Adjusted EBITDA	85.9	0%	119.2	85.9
Adjusted operating profit	64.4	+2%	96.6	63.3
Operating profit	63.4	+3%	118.4	61.3
Finance costs	(44.8)	−1%	(44.9)	(45.1)
Profit before tax	23.3	+19%	68.8	19.5
Tax	(6.0)	+15%	(11.5)	(5.2)
Net income (owners)	17.3	+21%	57.3	14.3
EPS basic	2.7p	–	9.0p	2.3p
EPS diluted	2.7p	–	9.0p	2.1p

	LTM Mar 26	FY Sep 25	FY Sep 24
Cash from operations	185.5	199.2	207.4
Interest paid	(87.4)	(86.6)	(101.9)
Tax paid	–	(5.3)	0.1
Capex (PP&E)	(69.2)	(61.2)	–
Lease principal paid	(9.2)	(8.6)	(8.4)
Share buybacks	(0.6)	(0.8)	0.0

	H1 Mar 26	vs H1 Mar 25	H2 Sep 25	H1 Mar 25
Cash from operations	67.7	−17%	117.8	81.4
Interest paid	(45.1)	+2%	(42.3)	(44.3)
Tax paid	(7.1)	–	–	–
Capex (PP&E)	(39.0)	+26%	(30.2)	(31.0)
Lease principal paid	(4.9)	+14%	(4.3)	(4.3)
Share buybacks	(0.6)	−25%	0.0	(0.8)

	Latest Mar 26	FY Sep 25	FY Sep 24
Other intangibles	24.6	26.9	29.3
Property, plant & equipment	2,215.1	2,181.3	2,069.0
Inventories	12.7	13.8	14.4
Trade receivables	27.5	27.6	25.9
Cash	27.6	34.8	44.4
Current assets	70.9	77.3	–
Trade payables	175.7	182.1	179.5
Borrowings, current	63.4	62.2	58.2
Current liabilities	239.7	248.8	–
Borrowings, non-current	1,194.1	1,179.4	1,244.7
Pension surplus / (deficit)	18.3	15.4	13.1
Total equity	812.9	790.7	654.8
Net cash / (debt) ex leases	(857.7)	(837.5)	(883.7)

	H1 Mar 26	H2 Sep 25	H1 Mar 25	H2 Sep 24
Other intangibles	24.6	26.9	27.6	29.3
Property, plant & equipment	2,215.1	2,181.3	2,078.5	2,069.0
Inventories	12.7	13.8	13.4	14.4
Trade receivables	27.5	27.6	23.7	25.9
Cash	27.6	34.8	31.2	44.4
Current assets	70.9	77.3	70.3	–
Trade payables	175.7	182.1	170.9	179.5
Borrowings, current	63.4	62.2	60.0	58.2
Current liabilities	239.7	248.8	235.4	–
Borrowings, non-current	1,194.1	1,179.4	1,224.7	1,244.7
Pension surplus / (deficit)	18.3	15.4	20.5	13.1
Total equity	812.9	790.7	678.4	654.8
Net cash / (debt) ex leases	(857.7)	(837.5)	(881.1)	(883.7)

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.