profit from every £100 of sales.
£0£100
NEXT
£157.90+0.86% today
+19.4% in 1 year
1-year low £120.051-year high £159.90
Trading close to its highest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2023 to 2026.
0%20% a year
You pay £20.29 for every £1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What NEXT sold, what it kept, and what it did with the cash.
Sales went from £5.03 billion in 2023 to £6.90 billion in 2026, with £889 million of profit last year.
SalesProfit
NEXT handed back 79% of the cash it generated last year.
Buybacks £553M£287M
Free cash flow 2026£1.1B
Bought back its own shares£553M
Paid as dividends£287M
Cash vs. debt£96M vs. £1.8B
NEXT vs. similar companies
NEXT grows the slowest of these 5 and is the cheapest for its profits.
| Company | Profit from £100 of sales | Sales growth a year | Price per £1 of profit |
|---|---|---|---|
| NEXT | 20.3× · Fair price | ||
 Fast Retailing | 57.0× · Expensive | ||
 The TJX Companies | 27.4× · Fair price | ||
 Ross Stores | 35.9× · Expensive | ||
 Trent | 99.9× · Very expensive |
AI analysis
An AI analyst reads NEXT's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of GBP | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 5,034 | 5,491 | 6,118 | 6,901 | |
| 2,175 | 2,421 | 2,642 | 3,047 | |
| 927 | 969 | 1,093 | 1,277 | |
| 1,113 | 1,349 | 1,395 | 1,625 | |
| 712 | 802 | 736 | 889 | |
| 5.71 | 6.56 | 6.06 | 7.45 | |
| 43.2% | 44.1% | 43.2% | 44.1% | |
| 18.4% | 17.6% | 17.9% | 18.5% | |
| 14.1% | 14.6% | 12.0% | 12.9% |
Balance sheet
| In millions of GBP | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Total assets | 3,984 | 4,724 | 4,873 | 4,915 |
| Cash | 105 | 188 | 200 | 96 |
| Total debt | 1,916 | 1,917 | 1,869 | 1,809 |
| Total liabilities | 2,819 | 3,086 | 3,118 | 3,135 |
| 1,161 | 1,512 | 1,636 | 1,663 | |
| 125 | 122 | 122 | 119 | |
| 23.1% | 24.1% | 23.2% | 27.9% | |
| 61.3% | 53.1% | 45.0% | 53.4% |
Cash flow
| In millions of GBP | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| 799 | 1,120 | 1,134 | 1,234 | |
| 246 | 188 | 158 | 171 | |
| 553 | 932 | 976 | 1,062 | |
| Dividends paid | 237 | 248 | 258 | 287 |
| 229 | 177 | 360 | 553 | |
| 24 | 32 | 41 | 43 |
Valuation
- 20.3×
- –
- 2.18
- 9.6×
- 2.6×
- 17.0×
- 12.1×
- 5.9%
- 4.9%
- 1.6%
Profitability
- 44.1%
- 18.5%
- 12.9%
- –
- 27.9%
- 24.6%
- –
- –
- –
- –
Growth
- +11.1%
- +9.3%
- –
- –
- −1.5%
Financial health
- 1.1×
- 1.09
- –
- 13.3×
- 1.76
- –
- –
How it ranks in Consumer Discretionary
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 3%of 978
Top 15%of 992
Bottom 46%of 854
Top 37%of 993
Top 43%of 979
1.6%of the share price, paid each year
On $1,000 invested$16a year at today's yield, before tax
–per share
Raised–not every year
How safe it looks
32.2% of its profit
Room to growStretchedMore than it earns: 27.0%
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Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
4/7Passes 4 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
78Pass
Benjamin Graham
56No pass
Philip Fisher
74Pass
Peter Lynch
47No pass
Joel Greenblatt
56No pass
Charlie Munger
80Pass
Terry Smith
81Pass
Questions about NEXT
Is NEXT a good stock to buy?
A solid business at a fair price. 4 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the NEXT AI analysis
What does NEXT do?
NEXT plc engages in the retail of clothing, homeware, and beauty products in the United Kingdom, rest of Europe, the Middle East, Asia, and internationally. It is in Apparel Retail, based in Enderby, United Kingdom, with 31,589 employees.
Does NEXT pay a dividend?
Yes. At today's price the dividend is 1.6% a year, about 32% of its yearly profit. In 2026 it paid out £287 million in dividends.
Is NEXT stock halal?
Yes. NEXT passes our halal screen: its business is permitted and its debt is 10% of its market value, under the 30% limit. How we check
How has NEXT stock done over the past year?
Up 19.4% over the past twelve months, to £157.90. It traded between £120.05 and £159.90, close to its high.
Who are NEXT's competitors?
The largest listed companies in the same industry are Fast Retailing, The TJX Companies, Ross Stores and Trent. The peers table on this page compares their profit, growth and price with NEXT's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.