BRCK Group combines a 20%–25% UK brick-distribution position, growing compliance-led contracting, and a 4.47x EV/EBITDA valuation to offer substantial asymmetric upside despite cyclical and execution risks.
Overview
BRCK Group, rebranded from Brickability Group in February 2026, is an asset-light UK distributor of construction materials and provider of specialist design-and-installation services. FY26 revenue was £645.4 million, up 1.3% year over year, with Distribution contributing £519.0 million and Design & Install £126.4 million. **The key strategic asset is BRCK’s estimated 20%–25% UK brick-distribution share**, supported by purchasing scale, manufacturer allocation rights, and technical specification capabilities. Financial performance was resilient: gross profit was £121.7 million at an 18.9% margin, Adjusted EBITDA rose 4.5% to £51.0 million, Adjusted PBT increased 4.9% to £38.3 million, and Adjusted EPS rose 8.0% to 8.91p. Statutory PBT fell to £6.3 million because of goodwill impairments. At £0.52, the shares trade at 4.47x EV/Adjusted EBITDA, 5.84x Adjusted P/E, and yield 6.75%, versus materially higher peer multiples. **Near-term catalysts include UK housing recovery, BSR approval conversion, Design & Install growth, and renewed M&A interest.** The rejected Atlas Holdings approach at 65p provides a valuation reference, while consensus targets 96.5p.