Man Group Plc

LSE:EMG Stock Report

Market Cap: UK£3.0b

Man Group Valuation

Is EMG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of EMG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: EMG (£2.68) is trading below our estimate of future cash flow value (£4.9)

Significantly Below Future Cash Flow Value: EMG is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EMG?

Key metric: As EMG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for EMG. This is calculated by dividing EMG's market cap by their current earnings.
What is EMG's PE Ratio?
PE Ratio21.8x
EarningsUS$185.00m
Market CapUS$4.07b

Price to Earnings Ratio vs Peers

How does EMG's PE Ratio compare to its peers?

The above table shows the PE ratio for EMG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
ABDN Aberdeen Group
12x-19.96%UK£3.8b
N91 Ninety One Group
14.6x8.30%UK£2.3b
ASHM Ashmore Group
14.1x-13.93%UK£1.6b
CLDN Caledonia Investments
9.6xn/aUK£1.8b
EMG Man Group
21.9x32.91%UK£3.0b

Price-To-Earnings vs Peers: EMG is expensive based on its Price-To-Earnings Ratio (21.9x) compared to the peer average (12.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does EMG's PE Ratio compare vs other companies in the GB Capital Markets Industry?

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CGEO Georgia Capital
2.2xn/aUS$1.39b
BPM B.P. Marsh & Partners
2.4xn/aUS$325.43m
SIHL Symphony International Holdings
2.9xn/aUS$202.78m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
EMG 21.8xIndustry Avg. 14.0xNo. of Companies13PE01224364860+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: EMG is expensive based on its Price-To-Earnings Ratio (21.9x) compared to the UK Capital Markets industry average (14x).

Price to Earnings Ratio vs Fair Ratio

What is EMG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EMG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.8x
Fair PE Ratio22.3x

Price-To-Earnings vs Fair Ratio: EMG is good value based on its Price-To-Earnings Ratio (21.9x) compared to the estimated Fair Price-To-Earnings Ratio (22.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EMG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£2.68
UK£2.79
+4.12%
8.34%UK£3.20UK£2.31n/a12
Feb ’27UK£2.63
UK£2.73
+3.94%
7.52%UK£3.13UK£2.28n/a12
Jan ’27UK£2.29
UK£2.42
+5.68%
13.32%UK£3.21UK£1.91n/a12
Dec ’26UK£2.06
UK£2.43
+18.01%
13.95%UK£3.24UK£1.93n/a13
Nov ’26UK£2.10
UK£2.35
+11.95%
15.42%UK£3.20UK£1.88n/a13
Oct ’26UK£1.82
UK£2.15
+18.10%
21.42%UK£3.16UK£1.57n/a13
Sep ’26UK£1.64
UK£2.11
+28.59%
22.27%UK£3.14UK£1.56n/a13
Aug ’26UK£1.63
UK£2.17
+32.66%
21.32%UK£3.21UK£1.60n/a13
Jul ’26UK£1.72
UK£2.08
+21.01%
21.94%UK£3.09UK£1.47n/a14
Jun ’26UK£1.75
UK£2.14
+22.24%
21.59%UK£3.16UK£1.50n/a14
May ’26UK£1.66
UK£2.17
+30.95%
20.24%UK£3.19UK£1.52n/a14
Apr ’26UK£1.95
UK£2.54
+30.32%
10.86%UK£3.13UK£2.11n/a14
Mar ’26UK£2.13
UK£2.60
+22.29%
11.32%UK£3.21UK£2.13n/a14
Feb ’26UK£2.15
UK£2.64
+22.80%
10.40%UK£3.20UK£2.17UK£2.6314
Jan ’26UK£2.14
UK£2.76
+28.55%
11.12%UK£3.29UK£2.26UK£2.2914
Dec ’25UK£2.10
UK£2.68
+27.80%
13.82%UK£3.27UK£1.95UK£2.0614
Nov ’25UK£2.01
UK£2.66
+32.56%
13.73%UK£3.22UK£1.92UK£2.1014
Oct ’25UK£2.19
UK£2.84
+29.86%
10.58%UK£3.18UK£1.87UK£1.8214
Sep ’25UK£2.24
UK£2.94
+31.67%
10.73%UK£3.32UK£1.94UK£1.6414
Aug ’25UK£2.38
UK£2.98
+25.03%
10.64%UK£3.33UK£1.95UK£1.6314
Jul ’25UK£2.44
UK£3.04
+24.71%
11.38%UK£3.41UK£1.92UK£1.7214
Jun ’25UK£2.64
UK£3.02
+14.56%
11.22%UK£3.39UK£1.91UK£1.7514
May ’25UK£2.59
UK£3.04
+17.50%
11.09%UK£3.46UK£1.95UK£1.6614
Apr ’25UK£2.67
UK£2.95
+10.43%
11.06%UK£3.27UK£1.91UK£1.9514
Mar ’25UK£2.46
UK£2.83
+15.09%
11.33%UK£3.19UK£1.92UK£2.1314
Feb ’25UK£2.35
UK£2.79
+18.54%
11.51%UK£3.22UK£1.91UK£2.1514
UK£2.79
Fair Value
4.0% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/24 18:36
End of Day Share Price 2026/02/24 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Man Group Plc is covered by 24 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael SandersonBarclays
Michael SandersonBarclays
Daniel GarrodBarclays