Equity Brief · Industrials2026-10-27
FSJ.L·Industrials

Last results 8 Sept 2026

James Fisher and Sons plc

I · AI Analysis

The brief

James Fisher provides marine services including offshore wind blade maintenance, submarine rescue systems, military diving equipment, coastal shipping, and port services across the UK, Europe, Middle East, Africa, the Americas, and Asia-Pacific [Yahoo Finance]. The company serves energy, defence, and maritime transport customers through three operating segments [Yahoo Finance].

James Fisher and Sons is a 177-year-old UK marine services company operating across energy, defence, and maritime transport, with about 1,947 employees [Yahoo Finance]. The company generates trailing-twelve-month revenue of GBP 398.4M but posted a negative net margin of -0.7% through 30 June 2026 [Yahoo Finance]. Financial health is weak, with an Altman Z-score of 1.6 signalling distress risk and net debt at 4.5 times EBITDA [Sentinellis calculation].

The company is financially distressed: unprofitable on a trailing basis, carrying heavy debt, and scoring poorly on multiple risk measures.

The brief AI analysisConfidence 4/10

Sentinellis health

Significant risks

3.7/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score3.3/10
Net margin-0.7%· need ≥ 1.8%, the lower third of transport & logistics in our libraryGross margin+33.3%

Returns on capital

16% of score0.0/10
ROIC+3.9%· need > 10%Return on equity-1.5%· need > 12%

Growth & momentum

11% of score10.0/10
Revenue growth+2.1%Operating margin trend—· no data

Balance sheet

32% of score1.7/10
Current ratio1.2x· need > 1.2xNet debt / EBITDA4.5x· need < 3.0xInterest coverage1.3x· need > 6.0xDebt / equity1.42

Cash generation

16% of score10.0/10
Free cash flowGBP 33.9MCash vs reported profitGBP 66.9M vs GBP -4.4M

Value creation

11% of score0.0/10
ROIC vs cost of capital-2.6pp· need ROIC above WACC

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

GBP 224.2M

Revenue (TTM)

GBP 398.4M

Explainers

How we read these numbers

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Net debt is 4.5 times EBITDA, more than 50% above the 3x threshold that typically triggers lender scrutiny and covenant pressure [Sentinellis calculation].

1 of 6 risks in this report

Risks

6

Opportunities

5

Red flags

4

Leadership

10

14 more findings in the full report — free with any account.

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Produced 27 Oct 2026, 11:05 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated