Added to YB: 2026-03-16
Pitch date: 2026-03-11
MOON.L [bullish]
Moonpig Group PLC
+0.72%
current return
Author Info
Convex Bets is an ex-L/S equity analyst generalist focused on US equities, with 5+ years of experience, mainly in short selling. Sign up for the newsletter.
Company Info
Moonpig Group PLC, together with its subsidiaries, operates as a data and technology platform for online greeting cards and gifting in the Netherlands, Ireland, Australia, the United States, and the United Kingdom.
Market Cap
GBP 644.9M
Pitch Price
GBP 2.08
Price Target
N/A
Dividend
1.68%
EV/EBITDA
8.84
P/E
15.80
EV/Sales
2.13
Sector
Specialty Retail
Category
growth
Niche Market Leader with HSD Growth and a Large Buyback at 12x P/FCF - Moonpig Group PLC
MOON.L: UK online cards leader (70% share, 6x nearest competitor revenue). Growing 6-8% via online penetration, gift attachment, pricing despite weak consumer. 40% incremental EBITDA margin driving 9-11% EBITDA growth to 28% margin. 8% FY26 FCF yield funding 8% annual buyback. New CEO Catherine Faiers starts Mar 2. Risks: weak UK consumer, delivery (outsourced logistics), Card Factory competition, AI agents reducing differentiation. Trading 12x P/FCF, 8x EV/EBITDA.
Read full article (12 min)