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GB Group plc
(LSE:GBG)
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Rating:54Neutral
Price Target:
153.00 p
â–Ľ(-1.16% Downside)
Action:Reiterated
Date:09/11/26
The score is held back primarily by unstable profitability (including a significant 2026 net loss and lower gross margins) and a bearish technical setup with the price below key moving averages. These are partly offset by consistently positive free cash flow and manageable leverage, while valuation is mixed due to losses despite a moderate dividend yield.
Positive Factors
Positive cash generation
Positive free cash flow of about 38m in 2026, alongside operating cash flow of about 40m, shows the business is converting activity into cash. Continued positive free cash flow during loss-making years supports self-funded operations and gives management flexibility for investment and obligations.
Negative Factors
Large net loss
The swing from a small profit in 2025 to a large 2026 net loss materially weakens confidence in earnings durability. A net margin near -26% can constrain retained capital, complicate planning and make future results more sensitive to operational or cost changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive cash generation
Positive free cash flow of about 38m in 2026, alongside operating cash flow of about 40m, shows the business is converting activity into cash. Continued positive free cash flow during loss-making years supports self-funded operations and gives management flexibility for investment and obligations.
Read all positive factors
GB Group plc (GBG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
ÂŁ347.59M
Dividend Yield2.84%
Average Volume (3M)2.28M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue Growth0.82%
EPS Growth-997.08%
CountryUK
Employees1,055
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.32
Shares Outstanding228,916,850
10 Day Avg. Volume1,636,691
30 Day Avg. Volume2,275,632
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.03
Price to Sales (P/S)1.73
P/FCF Ratio12.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
ÂŁ261.25Price Target Upside68.77% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.18
Revenue Forecast (FY)ÂŁ291.33M
GB Group plc Business Overview & Revenue Model
Company Description
GB Group plc, along with its subsidiaries, specializes in delivering advanced identity data intelligence products and services worldwide, with key operations in the United Kingdom, the United States, and Australia. The company organizes its offeri...
How the Company Makes Money
GBG makes money primarily by selling software and data-driven services that support customer onboarding, identity verification, fraud prevention, AML compliance, and data/location intelligence. Revenue is typically generated through: (1) recurring...
GB Group plc Earnings Call Summary
Earnings Call Date:Nov 25, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Dec 01, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with significant progress in the Americas and the launch of the GBG Go platform, contributing to positive momentum. However, challenges in the Identity segment and legacy platform retirement affected overall growth. The strong financial management and strategic initiatives indicate a cautiously optimistic outlook.Positive Updates
Successful Turnaround in the Americas
The Americas business has seen a significant turnaround with 4x more new business in the first half compared to last year and a 28% faster deal activation time.
Negative Updates
Minimal Growth in Identity Segment
Identity segment, representing 63% of total group revenue, grew only 0.4% in constant currency terms.
Read all updates
Q2-2026 Updates
Positive
Negative
Successful Turnaround in the Americas
The Americas business has seen a significant turnaround with 4x more new business in the first half compared to last year and a 28% faster deal activation time.
Read all positive updates
Company Guidance
In the recent call, GBG provided detailed guidance for the first half of fiscal year 2026, highlighting several key metrics and strategic initiatives. The company reported revenue of GBP 135.5 million, marking a 1.8% growth in constant currency terms, with an adjusted operating profit increase of 4.6% to GBP 29.5 million. Notably, the Americas business drove 4x more new business compared to the previous year, with a 28% faster activation rate. GBG Go platform was launched, securing 18 new customer wins and integrating 200 digital identity schemes. The company also executed GBP 35 million in share buybacks and announced a further GBP 10 million buyback, alongside the acquisition of DataTools in Australia. The focus remains on improving net revenue retention, aiming to surpass 100%, with strategic emphasis on the Americas turnaround, the GBG Go platform, and evolving the operating model to drive shareholder value and accelerate top-line growth.GB Group plc Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
63
Positive
Cash Flow
70
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 285.04M | 282.72M | 277.32M | 278.81M | 242.48M |
| Gross Profit | 162.99M | 197.83M | 194.52M | 197.82M | 171.93M |
| EBITDA | 65.22M | 59.38M | 953.00K | -66.03M | 51.54M |
| Net Income | -75.09M | 8.63M | -48.58M | -119.79M | 15.26M |
Balance Sheet | |||||
| Total Assets | 707.38M | 805.15M | 852.90M | 955.12M | 1.10B |
| Cash, Cash Equivalents and Short-Term Investments | 31.43M | 25.16M | 21.32M | 21.55M | 22.30M |
| Total Debt | 113.61M | 74.26M | 102.83M | 128.18M | 131.60M |
| Total Liabilities | 231.85M | 193.77M | 227.78M | 260.98M | 314.98M |
| Stockholders Equity | 475.52M | 611.37M | 625.13M | 694.14M | 787.13M |
Cash Flow | |||||
| Free Cash Flow | 38.49M | 51.99M | 35.02M | 33.28M | 42.91M |
| Operating Cash Flow | 39.80M | 52.76M | 35.48M | 34.31M | 44.65M |
| Investing Cash Flow | -8.21M | -670.00K | -351.00K | -5.39M | -462.20M |
| Financing Cash Flow | -24.78M | -47.74M | -34.78M | -30.01M | 415.68M |
GB Group plc Technical Analysis
Negative
154.80
Price Trends
195.44
Negative
201.65
Negative
209.80
Negative
Market Momentum
-12.32
Negative
35.19
Neutral
28.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GBG, the sentiment is Negative. The current price of 154.8 is below the 20-day moving average (MA) of 156.85, below the 50-day MA of 195.44, and below the 200-day MA of 209.80, indicating a bearish trend. The MACD of -12.32 indicates Negative momentum. The RSI at 35.19 is Neutral, neither overbought nor oversold. The STOCH value of 28.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:GBG.
GB Group plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | £100.09M | 14.10 | 5.57% | ― | -1.34% | 20.88% | |
65 Neutral | £70.85M | 20.94 | 18.91% | ― | -3.15% | -17.89% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | £200.01M | 43.67 | 4.85% | 3.55% | ― | ― | |
54 Neutral | ÂŁ347.59M | -4.81 | -14.39% | 2.84% | 0.82% | -997.08% |
* Technology Sector Average
GB:GBG
GB Group plc
154.80
-66.84
-30.16%
GB:ACSO
accesso Technology
307.00
-128.00
-29.43%
GB:IGP
Intercede
118.50
-52.00
-30.50%
GB:NCC
NCC Group plc
131.00
-6.52
-4.74%
GB Group plc Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
GB Group Admits Additional Shares to London Stock Exchange Main Market
Neutral
Aug 28, 2026
GB Group plc has announced the admission to trading of 46,675 additional ordinary shares on the Main Market of the London Stock Exchange, bringing the total number of shares in issue and admitted to trading to 228,916,859. The newly admitted share...
Regulatory Filings and Compliance
GB Group Confirms Voting Rights and Share Capital Structure
Neutral
Aug 28, 2026
GB Group plc has confirmed that its total number of voting rights in ordinary shares is 228,916,859, with no shares held in treasury, establishing the current size of its issued share capital. This figure serves as the reference denominator for sh...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
GB Group cuts revenue outlook as Americas identity growth slows and leadership shifts
Negative
Aug 14, 2026
GB Group plc, a FTSE 250‑listed global identity and location technology specialist, is focused on using AI‑driven trust intelligence to help businesses verify identities, protect against digital crime and support responsible growth. It...
Delistings and Listing Changes
GB Group Adds New Shares to London Stock Exchange Listing
Neutral
Jul 31, 2026
GB Group plc has admitted an additional 66,921 ordinary shares to trading on the Main Market of the London Stock Exchange. The newly issued shares, which are fully fungible with the existing stock, bring the total number of GBG shares admitted to ...
Regulatory Filings and Compliance
GB Group Confirms Total Voting Rights of 228.9 Million Shares
Neutral
Jul 31, 2026
GB Group plc has reported that its total voting rights in ordinary shares of 2.5p currently stand at 228,870,184, with no shares held in treasury. This figure represents the full issued share capital carrying voting rights and defines the equity b...
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
GB Group shareholders back all AGM resolutions and final dividend
Positive
Jul 21, 2026
GB Group plc reported that all resolutions at its 2026 Annual General Meeting were passed following a poll of shareholders. Investors backed the receipt of the annual report and accounts and overwhelmingly approved a final dividend of 4.40 pence p...
Business Operations and StrategyFinancial Disclosures
GB Group Maintains Q1 Momentum in Core Identity and Location Segments
Positive
Jul 21, 2026
GB Group plc reported that trading in the first quarter of the 2026 financial year was in line with Board expectations, with mid-single digit revenue growth in its core Identity and Location segments supporting overall performance. The company not...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
GB Group Reduces Share Count with Latest Buyback Tranche
Positive
Jul 20, 2026
GB Group plc has repurchased an aggregate 204,794 ordinary shares between 13 and 14 July 2026 under its ongoing share buyback programme executed through Deutsche Bank AG’s London branch. The shares, bought at volume-weighted average prices a...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
GB Group Cancels 500,000 Shares After Latest Buyback Tranche
Positive
Jul 13, 2026
GB Group plc has repurchased 500,000 of its ordinary 2.5p shares between 6 and 10 July 2026 under its ongoing share buyback programme executed through Deutsche Bank’s Deutsche Numis unit. The shares were bought at volume-weighted average pri...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
GB Group reduces share count with latest buyback
Positive
Jul 6, 2026
GB Group plc has continued to execute its share buyback programme, repurchasing a total of 255,950 ordinary shares between 29 June and 1 July 2026 through Deutsche Numis. The shares, bought at prices broadly in the 193p to 201p range, will be canc...
Regulatory Filings and Compliance
GB Group updates market on total voting rights and share capital
Neutral
Jul 1, 2026
GB Group plc has confirmed that its total number of ordinary shares in issue, each with a nominal value of 2.5 pence, stands at 229,564,007, all of which carry voting rights. The company also stated that it holds no shares in treasury, meaning the...
Stock BuybackRegulatory Filings and Compliance
GB Group Reduces Share Count with June Buyback Transactions
Positive
Jun 30, 2026
GB Group plc has continued to execute its previously announced share buyback programme, purchasing a total of 583,590 ordinary shares between 22 and 26 June 2026 through Deutsche Numis. The shares, bought at volume-weighted average prices ranging ...
Business Operations and StrategyExecutive/Board Changes
GB Group grants long-term performance share awards to top executives
Positive
Jun 24, 2026
GB Group plc has granted performance-based share awards to chief executive Dev Dhiman and chief financial officer David Ward under its Performance Share Plan, aligning executive incentives with long-term shareholder returns. The awards, covering a...
Business Operations and Strategy
GB Group’s Employee Trust Increases Stake with Share Purchase
Positive
Jun 23, 2026
GB Group plc has disclosed that its Employee Benefit Trust has acquired 133,811 ordinary shares at an average price of £1.86 per share, with the shares to be held for the benefit of employees and executive directors. Following this transactio...
Stock Buyback
GB Group Cancels 600,000 Shares Following Latest Buyback Tranche
Positive
Jun 22, 2026
GB Group plc has repurchased a total of 600,000 ordinary shares between 15 and 19 June 2026 under its ongoing share buyback programme, executed via Deutsche Bank AG’s London branch trading as Deutsche Numis. The bought-back shares, which wer...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
GB Group publishes FY26 annual report and sets date for 2026 AGM
Neutral
Jun 17, 2026
GB Group plc has published its Annual Report and Accounts for the financial year ended 31 March 2026, alongside the formal notice and proxy form for its 2026 Annual General Meeting, making these materials available to shareholders both online and,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
GB Group Cuts Share Count With 500,000-Share Buyback Cancellation
Positive
Jun 16, 2026
GB Group plc has repurchased 500,000 ordinary shares between 8 and 12 June 2026 under its ongoing share buyback programme, using Deutsche Bank AG’s London branch as broker. The transactions were executed within a price range of roughly 200.5...
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.