Kingfisher Share Price (KGF)

.wealthoracle.co.uk/company-results

Kingfisher reaffirmed FY26/27 adjusted PBT guidance of £565m-£625m and free cash flow of £450m-£510m, despite Q1 underlying like-for-like sales slipping 0.7% against a strong prior-year comparator and a late start to spring that crimped seasonal footfall. Total sales including marketplace GMS edged up 0.8% to £3.3bn, with Screwfix the standout at +4.1% LFL on volume-led market share gains, while B&Q dragged at -4.1% on weather-hit seasonal and a soft bathroom market. France remained subdued but Castorama posted a third consecutive quarter of sequential improvement, and Iberia delivered a strong +6.6% LFL. Strategic growth drivers continue to compound, with trade sales ex-Screwfix +17%, e-commerce ex-Screwfix +14% and marketplace GMV +39% to £163m. The £300m buyback rolls on, and management remains confident of capturing operational leverage as core European markets stabilise.

.wealthoracle.co.uk/company-results

.wealthoracle.co.uk/companies/KGF

Kingfisher delivered steady FY25/26 performance, with results demonstrating that the group’s strategic initiatives are now translating into both market share gains and improved profitability. Underlying like-for-like sales increased 1.4%, with total sales up 1.3% to £12.9bn, driven primarily by strong execution in the UK where B&Q and Screwfix continued to outperform. Adjusted profit before tax rose 6% to £560m, while adjusted EPS increased 15% to 23.8p, helped by both earnings growth and ongoing buybacks. Gross margin expanded by 80bps to 38.1%,a notable achievement in a still mixed consumer backdrop and reflects sourcing benefits, better inventory management, improved promotional effectiveness and the increasing contribution from marketplace and retail media. In terms of geographical performance, the UK was the clear standout. B&Q delivered like-for-like growth of 3.3% and Screwfix grew 3.2%, helped by favourable spring weather, strong seasonal demand, gains from former Homebase store closures and continued momentum in trade and digital. More broadly, management highlighted market share gains not just in the UK, but also in France and Spain, which supports the view that the group is improving operationally even where end markets remain less supportive. Progress in trade and e-commerce is also encouraging...

.wealthoracle.co.uk/companies/KGF

Trading should start to pick up from now.

In my experience the Screwfix website is good ,But the B&Q one not so.

"Trade and online attractions; cash rewards" - new research report and audio summary (freely accessible) here: https://www.equitydevelopment.co.uk/research/trade-and-online-attractions-cash-rewards

Kingfisher reported FY26 results in line with upgraded guidance, demonstrating continued progress across its strategic priorities and supporting our expectations for further profit and cash generation growth despite a mixed macro‑economic backdrop.

Key financial metrics were robust. Group revenue increased 1.3% to £12.9bn, while adjusted PBT rose 6% to £560m, reflecting gross margin expansion and disciplined cost control. Adjusted EPS increased 15% to 23.4p, and free cash flow reached £512m, supporting a further £300m share buy‑back.

Kingfisher’s strategy continues to deliver. Growing penetration of trade customers, expansion of marketplace and e‑commerce, and a high contribution from exclusive brands underpin margin resilience and provide flexibility to manage cost pressures while continuing to invest for growth.

Valuation remains attractive. Following recent share price weakness, Kingfisher trades on 9.3x cal 2027 PER, with a c.9% free‑cash‑flow yield, which we believe does not fully reflect the group’s cash‑generation capability. Accordingly, we raise our fair value to 375p per share.