Hays plc

LSE:HAS Stock Report

Market Cap: UK£694.9m

Hays Valuation

Is HAS 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of HAS 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: HAS (£0.43) is trading above our estimate of future cash flow value (£0.28)

Significantly Below Future Cash Flow Value: HAS is trading above our estimate of future cash flow value.

Key Valuation Metric

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

Key metric: As HAS is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HAS. This is calculated by dividing HAS's market cap by their current revenue.
What is HAS's PS Ratio?
PS Ratio0.1x
SalesUK£6.61b
Market CapUK£694.87m

Price to Sales Ratio vs Peers

How does HAS's PS Ratio compare to its peers?

The above table shows the PS ratio for HAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.2x
PAGE PageGroup
0.4x0.14%UK£579.7m
STEM SThree
0.2x1.78%UK£208.9m
RWA Robert Walters
0.1x-3.89%UK£80.9m
STAF Staffline Group
0.06x9.13%UK£58.0m
HAS Hays
0.1x0.012%UK£694.9m

Price-To-Sales vs Peers: HAS is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.2x).

Historical Price to Sales Ratio

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

Fetching historical data

Price to Sales Ratio vs Industry

How does HAS's PS Ratio compare vs other companies in the GB Professional Services Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.0x6.3%
HAS Hays
 0.1x0.012%US$941.58m
IPEL Impellam Group
0.2xn/aUS$489.91m
CPI Capita
0.2x0.83%US$524.06m
HAS 0.1xIndustry Avg. 1.0xNo. of Companies10PS00.81.62.43.24+
10 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.0x11.6%
HAS Hays
 0.1x85.90%US$941.58m
No more companies

Price-To-Sales vs Industry: HAS is good value based on its Price-To-Sales Ratio (0.1x) compared to the UK Professional Services industry average (1x).

Price to Sales Ratio vs Fair Ratio

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

HAS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.1x
Fair PS Ratio0.4x

Price-To-Sales vs Fair Ratio: HAS is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.4x).

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 HAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.43
UK£0.64
+48.31%
26.38%UK£0.90UK£0.44n/a11
Feb ’27UK£0.47
UK£0.64
+35.87%
26.38%UK£0.90UK£0.44n/a11
Jan ’27UK£0.56
UK£0.72
+27.71%
21.23%UK£1.00UK£0.50n/a10
Dec ’26UK£0.56
UK£0.73
+31.30%
19.81%UK£1.00UK£0.55n/a10
Nov ’26UK£0.59
UK£0.75
+27.35%
21.18%UK£1.00UK£0.55n/a10
Oct ’26UK£0.57
UK£0.77
+33.98%
23.68%UK£1.03UK£0.52n/a10
Sep ’26UK£0.63
UK£0.79
+26.32%
21.52%UK£1.03UK£0.55n/a10
Aug ’26UK£0.62
UK£0.82
+32.09%
24.04%UK£1.10UK£0.55n/a10
Jul ’26UK£0.71
UK£0.83
+16.67%
22.48%UK£1.10UK£0.55n/a10
Jun ’26UK£0.72
UK£0.91
+26.14%
16.13%UK£1.10UK£0.64n/a11
May ’26UK£0.73
UK£0.92
+25.57%
16.22%UK£1.10UK£0.64n/a11
Apr ’26UK£0.79
UK£0.96
+21.17%
14.42%UK£1.20UK£0.68n/a11
Mar ’26UK£0.70
UK£0.94
+33.10%
17.14%UK£1.20UK£0.68n/a11
Feb ’26UK£0.77
UK£0.95
+23.65%
15.30%UK£1.20UK£0.70UK£0.4711
Jan ’26UK£0.80
UK£1.02
+26.83%
16.35%UK£1.30UK£0.75UK£0.5611
Dec ’25UK£0.79
UK£1.04
+32.05%
15.79%UK£1.30UK£0.79UK£0.5611
Nov ’25UK£0.78
UK£1.05
+34.27%
14.49%UK£1.30UK£0.79UK£0.5911
Oct ’25UK£0.91
UK£1.08
+18.66%
13.28%UK£1.30UK£0.87UK£0.5711
Sep ’25UK£0.93
UK£1.09
+18.04%
12.00%UK£1.30UK£0.87UK£0.6311
Aug ’25UK£0.93
UK£1.11
+18.87%
12.34%UK£1.30UK£0.87UK£0.6211
Jul ’25UK£0.93
UK£1.18
+26.47%
11.01%UK£1.40UK£0.90UK£0.7111
Jun ’25UK£1.08
UK£1.16
+7.86%
12.10%UK£1.40UK£0.90UK£0.7211
May ’25UK£0.91
UK£1.17
+27.99%
12.36%UK£1.40UK£0.90UK£0.7311
Apr ’25UK£0.94
UK£1.21
+27.79%
11.51%UK£1.40UK£0.93UK£0.7910
Mar ’25UK£0.96
UK£1.24
+29.34%
8.84%UK£1.40UK£1.04UK£0.709
Feb ’25UK£0.97
UK£1.29
+33.20%
9.95%UK£1.55UK£1.07UK£0.7710
UK£0.64
Fair Value
32.6% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/25 01:59
End of Day Share Price 2026/02/25 00:00
Earnings2025/06/30
Annual Earnings2025/06/30

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

Hays plc is covered by 26 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Paul Daniel SullivanBarclays
Afonso OsorioBarclays
James Rowland ClarkBarclays