Added to YB: 2026-08-26
Pitch date: 2026-08-24
GRG.L [bullish]
Greggs plc
+0.37%
current return
Author Info
No bio for this author
Company Info
Greggs plc operates as a food-on-the-go retailer in the United Kingdom. It offers a range of fresh bakery products, sandwiches, and drinks.
Market Cap
GBP 1.9B
Pitch Price
GBP 18.75
Price Target
N/A
Dividend
3.75%
EV/EBITDA
6.18
P/E
14.26
EV/Sales
1.04
Sector
Hotels, Restaurants and Leisure
Category
value
Yet Another 2 Interesting Opportunities - Greggs plc
GRG.L: Market fears 'peak Greggs' after LFL growth slowed to +2.4% (2025) from +5.5%, but H1'26 beat: revenue +7%, PBT +20% YoY, LFL stable at +2% despite store growth. New Bitesize Greggs small-format stores extend whitespace with near-full-shop sales and strong returns (only 4 open). Past peak capex + committed surplus-cash returns; quiet activist Silchester (~5%) may push more specials/buybacks. ~9% FCF/EV yield (~4% over UK 10y gilt), 14x NTM P/E at GBP 18.38. Overseas optionality (Tenerife franchise). Risk: growth deceleration proves structural rather than a pause.
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