RNWH

Renew Holdings PLC

Construction and Materials First-pass screen £716m

330/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 30

Valuation 25% 30

Downside protection 15% 60

First-pass take

Defensive regulatory-driven infrastructure services business with strong order book (£915m) but negative operating leverage (5.6% revenue growth, 1.7% profit growth, 20bps margin compression). AI mentions limited to comms network connectivity tailwinds. Weak net cash position (£6.2m) post-Full Circle acquisition.

Flags

no-valuation-datalow-ai-exposurenegative-operating-leverageweak-net-cashservices-heavyacquisition-drivendefensive-demandmargin-compression