Norcros - Public Comps and Valuation Multiples

Norcros Overview

About Norcros

Norcros PLC manufactures and markets showers, taps, bathroom accessories, tiles, and adhesives. The company has complementary UK businesses: Triton Showers, Merlyn, Vado, Croydex, Abode, Johnson Tiles, and Norcros Adhesives both for domestic and commercial applications, and three complementary businesses in South Africa: Johnson Tiles South Africa, TAL, and Tile Africa. The Group operates in two main geographical areas: the UK and Ireland and South Africa. The maximum revenue is generated from its business in the United Kingdom.

Founded

1999

HQ

Employees

2.3K+

Website

norcros.com

Sectors

Building Products

Financials

LTM Revenue $510M

LTM EBITDA $71.5M

EV

$423M

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Norcros Financials

As of September 2025, Norcros reported last 12-month revenue of $510M and EBITDA of $71.5M.

In the same period, Norcros generated $218M in LTM gross profit and $38.8M in net income.

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Norcros P&L

In the most recent fiscal year, Norcros reported revenue of $491M and EBITDA of $24.9M.

Norcros expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$510M	XXX	$491M	XXX	XXX	XXX
Gross Profit	$218M	XXX	$213M	XXX	XXX	XXX
Gross Margin	43%	XXX	43%	XXX	XXX	XXX
EBITDA	$71.5M	XXX	$24.9M	XXX	XXX	XXX
EBITDA Margin	14%	XXX	5%	XXX	XXX	XXX
EBIT	$58.7M	XXX	$11.1M	XXX	XXX	XXX
EBIT Margin	12%	XXX	2%	XXX	XXX	XXX
Net Profit	$38.8M	XXX	$4.7M	XXX	XXX	XXX
Net Margin	8%	XXX	1%	XXX	XXX	XXX
Net Debt	XXX	XXX	$49.1M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Norcros including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $510M. EBITDA for the last twelve months was $71.5M. In the most recent fiscal year, Norcros achieved $491M in revenue and $24.9M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$510M	Analyst estimates available to subscribers	$491M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$218M	Analyst estimates available to subscribers	$213M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	42.7% gross margin	Analyst estimates available to subscribers	43.5% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$71.5M	Analyst estimates available to subscribers	$24.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.0% EBITDA margin	Analyst estimates available to subscribers	5.1% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$58.7M	Analyst estimates available to subscribers	$11.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	11.5% EBIT margin	Analyst estimates available to subscribers	2.3% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$38.8M	Analyst estimates available to subscribers	$4.7M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	7.6% net profit margin	Analyst estimates available to subscribers	1.0% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$49.1M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Norcros

This financial data table provides comprehensive performance metrics for Norcros, a company based in United Kingdom of Great Britain and Northern Ireland. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Norcros generated $510M in revenue over the last twelve months.
The company achieved $71.5M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $218M.
Net income over the last twelve months reached $38.8M.

Fiscal Year Performance

In the most recent fiscal year, Norcros reported $491M in total revenue.
Fiscal year EBITDA was $24.9M.
The company maintained a gross profit margin of 43.5% in the most recent fiscal year.
EBITDA margin for the fiscal year was 5.1%.
Net profit margin reached 1.0% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Norcros. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Norcros Stock Performance

Norcros has current market cap of GBP 260M (or $347M), and EV of GBP 318M (or $423M).

Market Cap Evolution

Norcros Stock Data

As of October 20, 2025, Norcros's stock price is GBP 3 (or $4).

See Norcros trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$423M	$347M	XXX	XXX	XXX	XXX	$0.44

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Norcros Valuation Multiples

Norcros's trades at 0.8x EV/Revenue multiple, and 12.0x EV/EBITDA.

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Norcros Financial Valuation Multiples

As of October 20, 2025, Norcros has market cap of $347M and EV of $423M.

Equity research analysts estimate Norcros's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Norcros has a P/E ratio of 8.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$347M	XXX	$347M	XXX	XXX	XXX
EV (current)	$423M	XXX	$423M	XXX	XXX	XXX
EV/Revenue	0.8x	XXX	0.8x	XXX	XXX	XXX
EV/EBITDA	5.9x	XXX	12.0x	XXX	XXX	XXX
EV/EBIT	7.2x	XXX	19.6x	XXX	XXX	XXX
EV/Gross Profit	1.9x	XXX	n/a	XXX	XXX	XXX
P/E	8.9x	XXX	27.9x	XXX	XXX	XXX
EV/FCF	20.5x	XXX	19.8x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Norcros Margins & Growth Rates

Norcros's last 12 month revenue growth is 10%

Norcros's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Norcros's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Norcros's rule of X is 39% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Norcros Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	10%	XXX	7%	XXX	XXX	XXX
EBITDA Margin	14%	XXX	7%	XXX	XXX	XXX
EBITDA Growth	12%	XXX	53%	XXX	XXX	XXX
Rule of 40	17%	XXX	17%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	39%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	41%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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