Added to YB: 2025-10-14
Pitch date: 2025-10-11
HWDN.L [bullish]
Howden Joinery Group Plc
+4.15%
current return
Author Info
No bio for this author
Company Info
Howden Joinery Group Plc supplies various kitchen, joinery, and hardware products in the United Kingdom, France, Belgium, and the Republic of Ireland.
Market Cap
GBP 4.4B
Pitch Price
GBP 8.06
Price Target
12.00 (+43%)
Dividend
3.25%
EV/EBITDA
9.68
P/E
17.82
EV/Sales
2.03
Sector
Trading Companies and Distributors
Category
growth
Howden Joinery: Depot Autonomy, Vertical Control Create Moat
HWDN.L: UK kitchen supplier w/ 870+ depot network serving tradespeople exclusively. Powerful moat via network effects, low switching costs, entrepreneurial culture. Path to 1,000 depots, upmarket expansion, adjacent products. France reset underway. Base case £12 vs £8.74 current price (~37% upside).
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