Added to YB: 2026-03-12
Pitch date: 2026-01-12
TPK.L [bullish]
Travis Perkins plc
-8.1%
current return
Author Info
No bio for this author
Company Info
Travis Perkins plc engages in distribution of building material products in the United Kingdom. It operates through Merchanting and Toolstation segments.
Market Cap
GBP 1.2B
Pitch Price
GBP 6.54
Price Target
15.34 (+151%)
Dividend
2.29%
EV/EBITDA
6.02
P/E
-41.75
EV/Sales
0.43
Sector
Trading Companies and Distributors
Category
value
Travis Perkins plc - $TPK.L
TPK.L: UK's largest building products distributor at historic trough, trading ~4.5x adj EBITDA post-lease vs 8x historic avg. Top 4 competitors PE-owned w/ 8-15x+ leverage, closing branches. New CEO Gavin Slark (sold competitor to PE at peak) + Chairman Geoff Drabble (created value at Ashtead, Ferguson) leading pricing discipline & market share gains. Base case: 5.5% Green & Gold EBIT margin, 7.5x '27E EBITDA = £9.92 (+52%). Bull: 6.8% margin, 8.5x '28E = £15.34 (+135%). Own ~£1B real estate for potential monetization. Risk: UK macro stays weak.
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