Added to YB: 2023-03-23
Pitch date: 2023-03-23
RTN.LN [bullish]
The Restaurant Group plc
+58.13%
current return
Author Info
Clark Square Capital is a former equity analyst and now a full-time investor managing their own capital. Sign up for their newsletter
Company Info
The Restaurant Group plc operates restaurants and pubs in the United Kingdom. Its brands include Wagamama, Frankie & Benny’s, Brunning & Price, Chiquito, Coast to Coast, Firejacks, and Barburrito.
Market Cap
GBP 498.9M
Pitch Price
GBP 0.41
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.41
P/E
-11.11
EV/Sales
1.17
Sector
Hotels, Restaurants and Leisure
Category
N/A
The Restaurant Group ($RTN.LN)
RTN.L: UK hospitality co. Wagamama (2/3 rev, 85% profit) + Pubs. 300bps margin recovery expected. 4.2x 2024E EBITDA, 8.2x EPS. Activists pushing for asset sales, better disclosure. 100p PT vs 42p current. Catalysts: strategic review, cost abatement, Wagamama growth. Risks: execution, debt (2.2x ND/EBITDA). Downside protected by pub real estate. Upside from US JV, sale-leaseback.
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