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AG Barr
(LSE:BAG)
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Rating:71Outperform
Price Target:
604.00 p
▲(1.34% Upside)
Action:Reiterated
Date:10/02/26
The score is driven primarily by strong financial fundamentals (growth, profitability, and generally conservative positioning) and supportive valuation (moderate P/E and solid dividend). These positives are partially offset by clearly bearish technicals and, from the latest earnings call, margin/ROCE pressure signals plus near-term disruption and brand-mix headwinds.
Positive Factors
Branded market outperformance
Growing faster than the overall soft drinks market indicates that A.G. BARR is gaining consumer demand and distribution, not merely benefiting from category expansion. Rising share across England, supported by core brands, strengthens its competitive position and provides a durable platform for future revenue growth.
Negative Factors
Margin pressure
Margin compression means revenue growth is not translating into earnings at the same rate as previously. Acquisition effects, operating inefficiencies, and cost or pricing pressure could continue to constrain profitability until synergies and efficiency improvements fully offset the dilution.
Read all positive and negative factors
Positive Factors
Negative Factors
Branded market outperformance
Growing faster than the overall soft drinks market indicates that A.G. BARR is gaining consumer demand and distribution, not merely benefiting from category expansion. Rising share across England, supported by core brands, strengthens its competitive position and provides a durable platform for future revenue growth.
Read all positive factors
AG Barr (BAG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£641.90M
Dividend Yield3.31%
Average Volume (3M)385.75K
Price to Earnings (P/E)14.1
Beta (1Y)0.62
Revenue Growth6.88%
EPS Growth-5.66%
CountryUK
Employees937
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.41
Shares Outstanding112,028,870
10 Day Avg. Volume387,358
30 Day Avg. Volume385,749
Financial Highlights & Ratios
PEG Ratio0.91
Price to Book (P/B)2.10
Price to Sales (P/S)1.63
P/FCF Ratio32.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£701.25Price Target Upside17.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)0.48
Revenue Forecast (FY)£482.11M
AG Barr Business Overview & Revenue Model
Company Description
A.G. BARR Plc engages in the manufacture, distribution, and sale of soft drinks. It operates through the following segments: Soft Drinks, Cocktail Solutions, and Others. The Other segment represents the rental income for vending machines, the sale...
How the Company Makes Money
AG Barr makes money primarily by selling branded beverages to trade customers, generating revenue from the wholesale price charged on volumes delivered across multiple channels. Its key revenue stream is packaged soft drinks sold through UK retail...
AG Barr Earnings Call Summary
Earnings Call Date:Sep 29, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Mar 30, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. A.G. BARR reported strong revenue growth, market outperformance, positive momentum across IRN-BRU, Rubicon, and Boost, successful acquisition integration, resolved supply-chain issues, and reaffirmed full-year and medium-term targets. Offsetting factors included the approximately GBP 10 million supply-chain-related sales impact, flat reported like-for-like growth, gross-margin dilution, higher interest and external cost pressures, weakness in FUNKIN and other portfolio brands, and ROCE guidance toward the lower end of its range. Highlights significantly outweighed the lowlights.Positive Updates
Strong First-Half Revenue Growth
Revenue grew 8.5% to GBP 247.4 million, led by the core brands and recent acquisitions, despite approximately GBP 10 million of sales impact from temporary supply constraints.
Negative Updates
Temporary Supply Constraints Reduced Sales
Supply constraints during the peak summer trading period had an approximately GBP 10 million impact on sales and a temporary but significant effect on customer service. Management said the issue depressed like-for-like growth by about 4%.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong First-Half Revenue Growth
Revenue grew 8.5% to GBP 247.4 million, led by the core brands and recent acquisitions, despite approximately GBP 10 million of sales impact from temporary supply constraints.
Read all positive updates
Company Guidance
For the full year, A.G. BARR expects revenue growth to be around 10%, operating margin to be slightly above H1 performance and circa 15%, ROCE to be within its guided range of 19%-21%, albeit at the lower end, net bank debt to be between GBP 10 million and GBP 20 million, cash CapEx to be approximately GBP 40 million, adjusting costs to be around GBP 3 million, and PBT to be between GBP 71 million and GBP 72 million, in line with market expectations. Its financial framework targets revenue growth of at least 4%, operating margin between 14%-16%, and ROCE of between 19%-21%. CapEx is expected to drop significantly to around GBP 30 million in 2027-2028, while maintenance CapEx is expected to be GBP 20 million-GBP 25 million going forward, with additional production-line replacement potentially costing between GBP 20 million and GBP 30 million.AG Barr Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 456.60M | 437.30M | 420.40M | 400.00M | 317.60M | 268.60M |
| Gross Profit | 181.90M | 176.80M | 164.30M | 154.20M | 128.10M | 118.60M |
| EBITDA | 76.10M | 74.60M | 65.90M | 63.80M | 55.70M | 53.80M |
| Net Income | 45.80M | 47.10M | 39.70M | 38.50M | 33.90M | 27.80M |
Balance Sheet | ||||||
| Total Assets | 555.70M | 514.20M | 432.90M | 401.70M | 377.50M | 336.30M |
| Cash, Cash Equivalents and Short-Term Investments | 15.50M | 81.60M | 64.80M | 53.60M | 53.60M | 68.70M |
| Total Debt | 70.90M | 48.00M | 4.60M | 4.90M | 5.80M | 4.40M |
| Total Liabilities | 203.50M | 168.60M | 115.30M | 109.00M | 108.70M | 88.10M |
| Stockholders Equity | 345.60M | 338.00M | 317.60M | 292.70M | 268.80M | 244.50M |
Cash Flow | ||||||
| Free Cash Flow | -14.70M | 22.10M | 29.10M | 30.70M | 21.30M | 38.40M |
| Operating Cash Flow | 28.10M | 52.50M | 48.30M | 48.50M | 35.90M | 43.40M |
| Investing Cash Flow | -75.20M | -25.10M | -39.30M | -8.10M | -71.50M | -9.00M |
| Financing Cash Flow | 36.30M | 12.60M | -21.20M | -19.70M | -20.20M | -15.70M |
AG Barr Technical Analysis
Neutral
596.00
Price Trends
580.28
Negative
604.13
Negative
616.40
Negative
Market Momentum
0.03
Negative
53.07
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BAG, the sentiment is Neutral. The current price of 596 is above the 20-day moving average (MA) of 563.80, above the 50-day MA of 580.28, and below the 200-day MA of 616.40, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 53.07 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:BAG.
AG Barr Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £405.92M | 17.08 | 24.74% | 3.50% | 2.73% | 37.06% | |
71 Outperform | £641.90M | 14.07 | 13.40% | 3.31% | 6.88% | -5.66% | |
68 Neutral | £16.88B | 20.08 | 25.10% | 2.21% | 12.76% | 12.70% | |
64 Neutral | £1.00B | 42.23 | 11.88% | 1.91% | 1.74% | 2.83% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | £377.91M | 106.74 | 0.62% | 4.86% | -2.97% | -79.32% | |
40 Underperform | £135.87M | 7.26 | 6.33% | 4.84% | 0.04% | ― |
* Consumer Defensive Sector Average
GB:BAG
AG Barr
577.00
-72.40
-11.15%
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AG Barr Corporate Events
Regulatory Filings and Compliance
A.G. Barr Discloses Share Purchase by Chair’s Spouse
Positive
Oct 2, 2026
A.G. Barr p.l.c. has disclosed that Wendy Sarah Shapland, spouse of non-executive chair Darren Shapland, purchased 10,000 ordinary shares in the company. The transaction took place on 30 September 2026 on the London Stock Exchange at a price of 57...
Business Operations and StrategyFinancial Disclosures
A.G. BARR Lifts First-Half Revenue and Reaffirms Full-Year Outlook
Positive
Sep 29, 2026
A.G. BARR reported interim revenue growth of 8.5% to £247.4m for the 26 weeks to 1 August 2026, outpacing the wider soft drinks market on the back of strong core brand performance and contributions from Fentimans and Frobishers. Adjusted oper...
Business Operations and StrategyRegulatory Filings and Compliance
AG Barr Executives Add Shares Under All-Employee Ownership Plan
Positive
Sep 8, 2026
AG Barr p.l.c. disclosed that several senior executives, including Chief Executive Officer Euan Sutherland and other members of the C-suite, have purchased ordinary shares under the company’s All Employee Share Ownership Plan. The AESOP allo...
Business Operations and StrategyFinancial Disclosures
A.G. BARR sets date and investor outreach for interim results
Positive
Sep 7, 2026
A.G. BARR will publish interim results for the 26 weeks to 1 August 2026 on 29 September, underscoring a key reporting milestone for the FTSE 250 drinks group. The company is pairing the release with a series of analyst and investor presentations ...
Business Operations and StrategyExecutive/Board Changes
A.G. Barr Names Darren Shapland as New Chair to Steer Next Growth Phase
Positive
Sep 1, 2026
A.G. Barr, the maker of IRN-BRU and other leading soft drinks, has appointed veteran retail executive Darren Shapland as independent non-executive director and chair of the board, effective 1 September 2026. He succeeds Susan Barratt, who returns ...
Business Operations and StrategyRegulatory Filings and Compliance
AG Barr Executives Boost Stakes Through Employee Share Plan
Positive
Aug 10, 2026
A.G. BARR p.l.c. disclosed that several executive directors, including CEO Euan Sutherland and CFO COO Stuart Lorimer, have acquired ordinary shares through the company’s All Employee Share Ownership Plan. The transactions, conducted on 7 A...
Business Operations and Strategy
AG Barr executives add to holdings under employee share plan
Positive
Aug 10, 2026
A.G. BARR has disclosed share purchases by several members of its executive leadership team under the company’s All Employee Share Ownership Plan. The plan allows staff to acquire ordinary shares through salary deductions and receive matchin...
Business Operations and StrategyFinancial Disclosures
A.G. Barr Sees Core Brand Strength and Keeps Profit Guidance Despite Supply Hurdles
Positive
Aug 4, 2026
A.G. Barr reported an 8% year-on-year rise in first-half revenue to about £246m, driven by strong growth in its core brands and contributions from recent acquisitions, despite a £10m revenue hit from internal supply chain disruptions and...
Business Operations and Strategy
AG Barr Executives Boost Holdings Through Employee Share Plan
Positive
Jul 8, 2026
AG Barr has reported share purchases by several senior executives under its All Employee Share Ownership Plan, a HMRC-approved scheme that allows staff to buy ordinary shares via salary deductions and receive matching free shares. Chief executive ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.