Added to YB: 2026-07-24
Pitch date: 2026-07-22
PETS.L [neutral]
Pets at Home Group Plc
+2.16%
current return
Author Info
No bio for this author
Company Info
Pets at Home Group Plc engages in the omnichannel retailing of pet food, pet related products, and pet accessories in the United Kingdom.
Market Cap
GBP 871.5M
Pitch Price
GBP 1.90
Price Target
N/A
Dividend
3.73%
EV/EBITDA
6.01
P/E
14.60
EV/Sales
0.84
Sector
Specialty Retail
Category
value
Pets at Home: Undervalued with a takeover catalyst?
PETS.L (watchlist): UK pet retailer/vet services, COVID darling now written off. Thesis: hidden vets asset (12% rev, 80% op profit, +3% LFL growth), COVID pet boomers driving senior vet spend late-decade, new insurance biz (~10% profit). CMA probe benign—no price gouging found. Retail returned to growth Q4'26 (+2.2%) w/ new CEO turnaround. ~9% FCF yield (4% over gilts), 12x NTM P/E. PE takeover speculation (BC Partners). Shortlisting as long.
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