Added to YB: 2026-09-10
Pitch date: 2026-09-08
GRG.L [bullish]
Greggs plc
+0.34%
current return
Author Info
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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 17.64
Price Target
N/A
Dividend
3.77%
EV/EBITDA
6.16
P/E
14.21
EV/Sales
1.04
Sector
Hotels, Restaurants and Leisure
Category
growth
Greggs ($GRG): 17x FCF Presents an Attractive Opportunity
GRG.L (earnings): Greggs’ free-cash-flow inflection is arriving after its investment cycle peaked: H1 revenue rose 7.2%, operating cash flow increased 18% to £111M and lower capex turned free cash flow from negative £81M to positive £34M. Full-year capex guidance fell to £180M, supporting estimated FCF of £110M at 17x, though new-facility costs imply flat 2026 profit and limited growth in 2027. Conviction remains strong, with the ~5% portfolio holding considered appropriate.
Read full article (6 min)