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CVS Group plc
(LSE:CVSG)
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Rating:55Neutral
Price Target:
1,238.00 p
â–Ľ(-4.70% Downside)
Action:Reiterated
Date:09/28/26
The score is held back primarily by elevated leverage and weaker free-cash-flow conversion alongside bearish technical momentum (price below major moving averages, negative MACD). A high P/E and low yield further constrain the valuation component. Offsetting these, the latest earnings call was broadly constructive with solid FY26 growth and management expecting FY27 to track consensus with improving like-for-like trends.
Positive Factors
Broad-based revenue and EBITDA growth
Growth across all three divisions indicates broad demand for CVS’s veterinary services rather than reliance on one activity. Combined with maintained EBITDA margins despite inflation, this supports operating resilience and provides a stronger base for reinvestment over the next several quarters.
Negative Factors
Higher leverage reduces financial flexibility
The material increase in borrowing leaves CVS with less balance-sheet flexibility and a smaller cushion if trading conditions weaken. Higher leverage can also restrict acquisition capacity or require greater cash allocation to debt-related obligations while returns remain modest.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad-based revenue and EBITDA growth
Growth across all three divisions indicates broad demand for CVS’s veterinary services rather than reliance on one activity. Combined with maintained EBITDA margins despite inflation, this supports operating resilience and provides a stronger base for reinvestment over the next several quarters.
Read all positive factors
CVS Group plc (CVSG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
ÂŁ782.54M
Dividend Yield0.75%
Average Volume (3M)327.91K
Price to Earnings (P/E)45.6
Beta (1Y)1.24
Revenue Growth5.88%
EPS Growth-9.18%
CountryUK
Employees9,000
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.25
Shares Outstanding67,460,830
10 Day Avg. Volume554,039
30 Day Avg. Volume327,908
Financial Highlights & Ratios
PEG Ratio-4.40
Price to Book (P/B)2.86
Price to Sales (P/S)1.17
P/FCF Ratio19.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
ÂŁ1,620.00Price Target Upside24.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.95
Revenue Forecast (FY)ÂŁ747.79M
CVS Group plc Business Overview & Revenue Model
Company Description
CVS Group plc, established in 1999 and based in Diss, United Kingdom, is a comprehensive animal care provider with diverse operations. The company's activities are broadly categorized into four segments: Veterinary Practices, Laboratories, Cremato...
How the Company Makes Money
CVS Group plc makes money primarily by delivering veterinary services through its practice network and charging fees for clinical consultations and procedures. Revenue is also generated from diagnostic services provided by its veterinary laborator...
CVS Group plc Earnings Call Summary
Earnings Call Date:Sep 24, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Mar 04, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. CVS delivered revenue, EBITDA, and EPS growth, maintained margins despite inflation, reported a solid start to fiscal 2027, expanded in Australia, returned to U.K. acquisitions, and cited improving veterinary availability, customer metrics, and operating initiatives. The main challenges were softer U.K. consumer conditions, weather-related disruption, routine preventative footfall pressure, ongoing cost inflation, a slight decline in Healthy Pet Club volumes, and prior Animed margin erosion. Highlights significantly outweighed the lowlights.Positive Updates
Revenue Growth Across All Divisions
Full-year revenue increased by 5.9% to GBP 712.8 million, with all 3 divisions driving growth and improved like-for-like revenue growth versus the prior year.
Negative Updates
Softer Market Conditions in the Final Quarter
The company faced softer market conditions in the final quarter due to continued softer consumer confidence in the U.K. and exceptionally hot spells of weather at the end of May and again at the end of June.
Read all updates
Q4-2026 Updates
Positive
Negative
Revenue Growth Across All Divisions
Full-year revenue increased by 5.9% to GBP 712.8 million, with all 3 divisions driving growth and improved like-for-like revenue growth versus the prior year.
Read all positive updates
Company Guidance
For FY27, CVS Group said it had a solid start, with August performance back in line with the first half of last year and like-for-like growth of 3% to 4%; it expects to perform in line with market consensus. It expects RDEC income to be similar -- slightly less but similar, actually in the region of GBP 15 million, with GBP 15 million-ish in '27, and expects the provision to reduce further next year. CVS is very confident in its ability to get back to the 4% to 8% range, although it cannot put a date to when it will get back to that 4% level; it expects further growth in labs this year, although last year’s 25% growth is probably more challenging to repeat. The GBP 50 million acquisition allocation will be well spent, and CVS may spend more than GBP 50 million if it has the capital, while 2x remains its stated ceiling for leverage but it may temporarily go above 2x for accretive opportunities; its minimum hurdle rate remains 10% returns.CVS Group plc Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
54
Neutral
Cash Flow
58
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 712.80M | 673.20M | 647.30M | 588.90M | 554.20M |
| Gross Profit | 289.60M | 259.70M | 277.90M | 262.30M | 239.10M |
| EBITDA | 142.00M | 114.30M | 108.40M | 118.80M | 90.40M |
| Net Income | 17.30M | 19.30M | 6.20M | 41.90M | 25.70M |
Balance Sheet | |||||
| Total Assets | 767.80M | 696.20M | 690.00M | 572.30M | 518.20M |
| Cash, Cash Equivalents and Short-Term Investments | 18.40M | 16.10M | 16.50M | 21.50M | 49.00M |
| Total Debt | 320.30M | 248.80M | 287.80M | 199.10M | 188.80M |
| Total Liabilities | 472.20M | 394.50M | 429.50M | 315.30M | 300.80M |
| Stockholders Equity | 290.10M | 299.80M | 260.40M | 257.00M | 217.40M |
Cash Flow | |||||
| Free Cash Flow | 42.80M | 55.70M | 24.70M | 38.80M | 51.00M |
| Operating Cash Flow | 71.30M | 82.10M | 67.80M | 84.50M | 75.50M |
| Investing Cash Flow | -81.50M | -22.70M | -140.50M | -99.90M | -45.10M |
| Financing Cash Flow | 12.70M | -59.20M | 68.30M | -12.10M | -15.10M |
CVS Group plc Technical Analysis
Negative
1299.00
Price Trends
1278.78
Negative
1250.89
Negative
1257.43
Negative
Market Momentum
-28.72
Positive
27.91
Positive
6.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CVSG, the sentiment is Negative. The current price of 1299 is above the 20-day moving average (MA) of 1267.75, above the 50-day MA of 1278.78, and above the 200-day MA of 1257.43, indicating a bearish trend. The MACD of -28.72 indicates Positive momentum. The RSI at 27.91 is Positive, neither overbought nor oversold. The STOCH value of 6.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:CVSG.
CVS Group plc Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ÂŁ1.42B | 5.00 | 44.90% | 1.53% | -2.18% | 1365.44% | |
68 Neutral | ÂŁ194.70M | 24.88 | 23.64% | 3.46% | 13.71% | 27.65% | |
64 Neutral | ÂŁ105.71M | 42.41 | 3.58% | 4.36% | 2.26% | -57.04% | |
63 Neutral | ÂŁ66.40M | 30.34 | 2.55% | 0.31% | 9.96% | 29.72% | |
55 Neutral | ÂŁ782.54M | 45.60 | 5.91% | 0.75% | 5.88% | -9.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GB:CVSG
CVS Group plc
1,140.00
-111.29
-8.89%
GB:EAH
Eco Animal Health
98.00
4.00
4.26%
GB:EKF
EKF Diagnostics Holdings
24.60
-5.60
-18.54%
GB:GNS
Genus plc
2,144.00
-353.52
-14.15%
GB:TSTL
Tristel
410.00
61.27
17.57%
CVS Group plc Corporate Events
Stock Buyback
CVS Group Continues Share Buyback, Cutting Share Count Further
Positive
Sep 28, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia, offers clinical care through hundreds of practices alongside diagnostic laboratories and its Animed Direct online retail arm. The company’s workforce of about 9,000...
Regulatory Filings and Compliance
CVS Group Director Laura Hagan Buys Shares in UK Veterinary Group
Positive
Sep 24, 2026
CVS Group plc has disclosed that non-executive director Laura Hagan purchased 4,128 ordinary shares in the company on 24 September 2026, in an on-market transaction on the London Stock Exchange. Following the purchase, Hagan’s total holding ...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresRegulatory Filings and Compliance
CVS Group lifts revenue, expands in Australia and steps up shareholder returns
Positive
Sep 24, 2026
CVS Group reported a 5.9% rise in annual revenue to £712.8m and a 6.9% increase in adjusted EPS, supported by improved like-for-like sales, stable EBITDA margins and strong cash generation despite a softer UK economy. The group expanded its A...
Business Operations and StrategyStock Buyback
CVS Group Further Cuts Share Count With Ongoing Buybacks
Positive
Sep 21, 2026
CVS Group plc has continued executing its share buyback programme, repurchasing 124,454 ordinary shares between 14 and 18 September at a volume-weighted average price of 1,302.41 pence and intends to cancel all of these shares. Following these tra...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group cancels further shares as buyback lifts total repurchases to 2.4m
Positive
Sep 14, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia, runs more than 475 practices alongside specialist referral hospitals, out-of-hours clinics, diagnostic laboratories and the Animed Direct online retail arm. Listed on the...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Advances Share Buyback, Cuts Share Count to 67.9 Million
Positive
Sep 7, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 107,761 ordinary shares between 1 and 4 September 2026 at a volume-weighted average price of 1,299.03 pence. The company intends to cancel these ...
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares Under Ongoing Buyback Programme
Positive
Sep 1, 2026
CVS Group plc, a major UK- and Australia-based veterinary services provider with an extensive network of practices, laboratories and an online retail arm, continues to focus on high-quality clinical services supported by a large team of veterinary...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Continues Share Buyback, Cuts Shares in Issue
Positive
Aug 24, 2026
CVS Group plc has continued executing its share buyback programme, repurchasing 93,175 ordinary shares between 17 and 21 August 2026 at a volume-weighted average price of 1,299.07 pence per share. The company intends to cancel all the shares bough...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Tightens Share Base with Ongoing Buybacks
Positive
Aug 17, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia with over 475 practices, specialist hospitals, laboratories and an online retail arm, focuses on high-quality clinical care underpinned by large teams of vets and nurses. ...
Regulatory Filings and Compliance
CVS Group Non-Executive Director Joanne Shaw Increases Shareholding
Positive
Aug 11, 2026
CVS Group plc has disclosed that Non-Executive Director Joanne Shaw purchased 1,592 ordinary shares in the company on 10 August 2026. Following this on-market transaction, Shaw’s total holding, including closely associated persons, has risen...
Stock BuybackRegulatory Filings and Compliance
CVS Group advances buyback, trims share count and voting rights
Positive
Aug 10, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia with extensive clinical, laboratory and online retail operations, continues to build its presence in the listed healthcare space. The company focuses on high-quality clini...
Regulatory Filings and Compliance
CVS Group CFO Increases Stake with On‑Market Share Purchase
Positive
Aug 6, 2026
CVS Group plc disclosed that its Chief Financial Officer, Robin Alfonso, has purchased 768 ordinary shares in the company via an on-market transaction on the London Stock Exchange. Following this purchase, Alfonso’s total holding, including ...
Regulatory Filings and Compliance
CVS Group Chairman Increases Stake With Share Purchase
Positive
Aug 5, 2026
CVS Group plc has disclosed that its non-executive chairman, David Wilton, purchased 1,500 ordinary shares in the company on 4 August 2026 via an on-market transaction on the London Stock Exchange. Following this acquisition, Wilton and his closel...
Business Operations and StrategyStock Buyback
CVS Group Cancels Latest Tranche of Share Buybacks, Reducing Share Capital
Positive
Aug 3, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia, combines a large network of practices with specialist hospitals, laboratories and an online retail arm to deliver high-quality clinical services for pets and their owners...
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares Under Ongoing Buyback Programme
Positive
Jul 27, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 189,802 ordinary shares between 20 July and 24 July 2026 at a volume-weighted average price of 1,265.49 pence. The company intends to cancel all ...
Business Operations and StrategyStock BuybackFinancial Disclosures
CVS Group leans on Australian growth as profits meet forecasts
Positive
Jul 23, 2026
CVS Group plc, the London-listed veterinary services group, reported unaudited full-year revenue of £712.8m for FY26, up 5.9% with like-for-like sales rising 2.1% despite a subdued UK economy. Adjusted EBITDA is expected at about £141.5m...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Tightens Free Float
Positive
Jul 20, 2026
CVS Group plc, a major veterinary services provider in the UK and Australia, runs an extensive network of more than 475 veterinary practices, including referral hospitals and out-of-hours facilities. The group also operates diagnostic laboratories...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Advances Share Buyback, Cuts Share Count and Voting Rights
Positive
Jul 13, 2026
CVS Group plc has continued executing its previously announced share buyback programme, purchasing 180,485 ordinary shares between 6 July and 10 July 2026 at a volume-weighted average price of 1,240.72 pence. The company intends to cancel all of t...
Business Operations and StrategyStock Buyback
CVS Group Advances Share Buyback, Cuts Share Count to 69.1 Million
Positive
Jul 6, 2026
CVS Group plc has continued its share buyback programme, purchasing 82,629 ordinary shares between 29 June and 3 July 2026 at prices ranging from 1,175.00 pence to 1,250.00 pence, with a volume-weighted average price of 1,220.31 pence. The company...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Updates Share Capital After Buyback, Clarifies Voting Rights
Positive
Jun 30, 2026
CVS Group plc, the UK-listed veterinary group with extensive operations across more than 475 practices in the UK and Australia, has confirmed an updated share capital position following recent buyback activity. The company, which also runs laborat...
Business Operations and StrategyStock Buyback
CVS Group cancels further shares as buyback reduces share capital
Positive
Jun 29, 2026
CVS Group plc has continued its previously announced share buyback programme, repurchasing 148,008 ordinary shares between 20 and 26 June 2026 at a volume-weighted average price of 1,168.95 pence per share. The company intends to cancel all repurc...
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.