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J D Wetherspoon
(LSE:JDW)
Select Model
Select Model
Rating:61Neutral
Price Target:
965.00 p
â–²(56.02% Upside)
Action:Reiterated
Date:10/03/26
The score is driven primarily by improving operating performance and stronger recent free cash flow, offset by meaningfully elevated balance-sheet leverage and thin net margins. Technicals are supportive due to a strong uptrend, but overbought readings temper the near-term outlook. Valuation appears reasonable but not compelling, with only a modest dividend yield.
Positive Factors
Steady Revenue Growth
A multi-year recovery followed by continued annual revenue growth indicates sustained customer demand and improving scale across the pub estate. This provides a durable base for operating leverage, reinvestment and continued cash generation over the next several quarters.
Negative Factors
Elevated Leverage
High leverage leaves JDW more exposed to refinancing needs and downturns than a lightly indebted operator. Because the business is cyclical and debt coverage by operating cash flow is only moderate, continued solid trading and cash generation remain important to financial stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
A multi-year recovery followed by continued annual revenue growth indicates sustained customer demand and improving scale across the pub estate. This provides a durable base for operating leverage, reinvestment and continued cash generation over the next several quarters.
Read all positive factors
J D Wetherspoon (JDW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£792.58M
Dividend Yield1.31%
Average Volume (3M)179.12K
Price to Earnings (P/E)18.7
Beta (1Y)1.01
Revenue Growth5.19%
EPS Growth-4.24%
CountryUK
Employees43,502
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.57
Shares Outstanding105,480,286
10 Day Avg. Volume156,187
30 Day Avg. Volume179,119
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)2.35
Price to Sales (P/S)0.35
P/FCF Ratio4.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£748.25Price Target Upside20.98% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.5
Revenue Forecast (FY)£2.33B
J D Wetherspoon Business Overview & Revenue Model
Company Description
Established in 1979, J D Wetherspoon plc manages a significant network of 861 pubs and 57 hotels. The company's operations span across the United Kingdom and the Republic of Ireland, with its headquarters located in Watford, UK....
How the Company Makes Money
JDW primarily makes money by selling food and beverages to customers in its pubs. Its core revenue streams include: (1) Alcoholic drinks sales (e.g., beer, cider, spirits and wine), sold at the bar and ordered in-venue; (2) Food sales, including m...
J D Wetherspoon Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
46
Neutral
Cash Flow
68
Positive
| Breakdown | Jul 2026 | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.24B | 2.13B | 2.04B | 1.93B | 1.74B |
| Gross Profit | 179.22M | 142.16M | 238.10M | 159.07M | 100.28M |
| EBITDA | 239.78M | 214.58M | 229.62M | 266.26M | 192.65M |
| Net Income | 60.49M | 67.99M | 48.78M | 59.59M | 19.27M |
Balance Sheet | |||||
| Total Assets | 1.92B | 1.91B | 1.90B | 1.99B | 2.09B |
| Cash, Cash Equivalents and Short-Term Investments | 52.77M | 38.68M | 57.23M | 87.17M | 40.35M |
| Total Debt | 1.19B | 1.17B | 1.14B | 1.18B | 1.41B |
| Total Liabilities | 1.58B | 1.55B | 1.50B | 1.59B | 1.76B |
| Stockholders Equity | 336.83M | 362.00M | 401.63M | 399.46M | 321.88M |
Cash Flow | |||||
| Free Cash Flow | 177.88M | 100.40M | 62.30M | 315.45M | 73.46M |
| Operating Cash Flow | 204.22M | 193.23M | 172.56M | 362.41M | 119.35M |
| Investing Cash Flow | -64.17M | -108.84M | -98.64M | -67.17M | -112.20M |
| Financing Cash Flow | -125.96M | -102.94M | -103.86M | -248.41M | -12.21M |
J D Wetherspoon Technical Analysis
Positive
618.50
Price Trends
809.46
Positive
740.02
Positive
704.03
Positive
Market Momentum
10.69
Negative
78.35
Negative
68.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JDW, the sentiment is Positive. The current price of 618.5 is below the 20-day moving average (MA) of 807.32, below the 50-day MA of 809.46, and below the 200-day MA of 704.03, indicating a bullish trend. The MACD of 10.69 indicates Negative momentum. The RSI at 78.35 is Negative, neither overbought nor oversold. The STOCH value of 68.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:JDW.
J D Wetherspoon Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £1.68B | 9.50 | 6.41% | 2.89% | 2.96% | 9.30% | |
67 Neutral | £807.48M | 13.75 | -69.64% | 5.34% | 5.72% | -21.86% | |
67 Neutral | £518.88M | 21.60 | 3.55% | 2.51% | 4.61% | 186.38% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £792.58M | 18.67 | 17.99% | 1.31% | 5.19% | -4.24% | |
60 Neutral | £289.75M | 4.06 | 9.30% | 6.05% | -0.52% | 68.53% | |
59 Neutral | £370.84M | 18.15 | 5.14% | 2.99% | 5.71% | -19.77% |
* Consumer Cyclical Sector Average
GB:JDW
J D Wetherspoon
915.00
303.73
49.69%
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GB:YNGA
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J D Wetherspoon Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
J D Wetherspoon Files 2026 Annual Report with FCA and Publishes Online
Neutral
Oct 2, 2026
J D Wetherspoon plc has published its Annual Report and Financial Statements for 2026, and submitted the documents to the Financial Conduct Authority’s ESS system. The report is now accessible to shareholders and the public via the company&#...
Business Operations and StrategyDividendsFinancial Disclosures
Wetherspoon grows sales but profits squeezed by rising costs and tax burden
Negative
Oct 2, 2026
J D Wetherspoon reported a 5.2% rise in annual revenue to £2.24bn and like-for-like sales growth of 4.2% for the year to 26 July 2026, but profit before tax before separately disclosed items fell 28% to £58.6m as wage, energy and repair ...
Regulatory Filings and Compliance
J D Wetherspoon Confirms Updated Share Capital and Voting Rights
Neutral
Oct 1, 2026
J D Wetherspoon has reported that, as of 1 October 2026, its issued share capital comprises 105,480,282 ordinary shares with a nominal value of £0.02 each, all carrying voting rights. The company holds no shares in treasury, making the total ...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon directors add shares under employee partnership scheme
Positive
Sep 23, 2026
J D Wetherspoon has reported that a number of its directors and other persons discharging managerial responsibilities have purchased small tranches of ordinary shares under the company’s partnership share plan. The shares, acquired on 22 Sep...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Market on Share Cancellation and Voting Rights
Neutral
Sep 8, 2026
J D Wetherspoon has updated the market on its total voting rights after cancelling 546,852 ordinary shares that it had repurchased between 1 and 4 September and previously disclosed to investors. Following this reduction in share count, the compan...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels Shares After Targeted Buyback
Positive
Sep 7, 2026
J D Wetherspoon has bought back 171,852 of its ordinary shares, priced between 820p and 825p, at a volume-weighted average price of 822.0905p, via Investec Bank on 4 September 2026. The company plans to cancel these shares, reducing its share capi...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 100,000 Shares After Targeted Buyback
Positive
Sep 4, 2026
J D Wetherspoon plc, a prominent U.K. pub and hospitality operator, runs an extensive estate of pubs and bars that cater to value-conscious customers. Its London-listed shares are widely held, making capital management decisions relevant to a broa...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 125,000 Shares After Buyback on XLON
Positive
Sep 3, 2026
J D Wetherspoon has bought back 125,000 of its ordinary shares on 2 September 2026 via Investec Bank, paying between 830p and 836p per share at a volume-weighted average price of 834.61p. The company plans to cancel the repurchased shares, a move ...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Share Capital and Voting Rights After Share Cancellation
Neutral
Sep 2, 2026
J D Wetherspoon plc is a U.K. pub and hospitality chain, operating a large estate of pubs and bars across the country. The company generates revenue primarily from food and drink sales and is a prominent player in the British casual dining and pub...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 150,000 Shares After Buyback
Positive
Sep 2, 2026
J D Wetherspoon plc has undertaken a share buyback, purchasing 150,000 of its ordinary shares of 2 pence each on 1 September 2026 through Investec Bank at prices between 830 pence and 839 pence. The volume-weighted average price paid on the London...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels Newly Repurchased Shares
Positive
Aug 27, 2026
J D Wetherspoon has repurchased 55,000 of its ordinary shares at a price of 845 pence each via Investec Bank on 26 August 2026, with all trades executed on the London Stock Exchange. The company plans to cancel these shares, reducing its share cap...
Business Operations and StrategyExecutive/Board Changes
Wetherspoon Grants Share Awards to Senior Management Under Incentive Plan
Positive
Aug 19, 2026
J D Wetherspoon has granted new awards of ordinary shares under its unapproved Share Incentive Plan to a group of directors, employee directors and other persons discharging managerial responsibilities. The awards, made on 14 August and completed ...
Business Operations and StrategyExecutive/Board Changes
Wetherspoon awards new shares to senior staff under incentive plan
Positive
Aug 19, 2026
J D Wetherspoon has granted new shares to directors, employee directors and other senior managers under its approved Share Incentive Plan, with awards completed on 19 August 2026 at a price of £8.15 per ordinary share. The allocations, which ...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon Directors Add Shares Through Employee Partnership Scheme
Positive
Aug 17, 2026
J D Wetherspoon has reported that several directors and other persons discharging managerial responsibilities acquired small amounts of company shares under its partnership share plan. The shares, purchased on 14 August 2026 at around 829.26 pence...
Regulatory Filings and Compliance
J D Wetherspoon Reports Director-Related Share Sale
Neutral
Aug 13, 2026
J D Wetherspoon plc disclosed a director-related share dealing involving a person closely associated with operations director Martin Geoghegan. The transaction notification, made under market disclosure rules, highlights governance procedures arou...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon Confirms Total Voting Rights After Share Capital Update
Neutral
Aug 3, 2026
J D Wetherspoon plc, a major U.K. pub and hospitality chain, operates a wide network of pubs and bars with a focus on affordable food and drink for mainstream customers. Its shares are publicly traded, giving it a diverse investor base that is sub...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Market After Cancelling Repurchased Shares
Positive
Jul 29, 2026
J D Wetherspoon plc has updated the market on its share capital and voting rights after cancelling ordinary shares previously repurchased on 22 and 24 July 2026. The cancellations reduce the number of outstanding shares and clarify the current vot...
Business Operations and StrategyFinancial Disclosures
Wetherspoon Rebuts FT Claims on Gambling Machine Profits
Positive
Jul 27, 2026
J D Wetherspoon has issued a detailed rebuttal to a Financial Times article suggesting the pub group might make more money from gambling machines than from food or drink. The company states that fruit machines accounted for just 3.4 per cent of sa...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 308,613 Shares After Targeted Buyback
Positive
Jul 27, 2026
J D Wetherspoon plc has repurchased 308,613 ordinary shares at a volume-weighted average price of 714.2455 pence per share on 24 July 2026 through Investec Bank plc. The company plans to cancel these shares, effectively reducing its share capital ...
Business Operations and StrategyStock BuybackShareholder Meetings
Wetherspoon Shareholders Approve New Buyback Authority and Takeover Waiver
Positive
Jul 23, 2026
J D Wetherspoon plc, a major pub operator across the U.K. and Ireland, specialises in affordable food and drink served by trained staff in individually designed, well-maintained venues. The company’s value-focused model positions it as a sig...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 250,000 Shares After Targeted Buyback
Positive
Jul 23, 2026
J D Wetherspoon has repurchased 250,000 of its ordinary shares at a volume-weighted average price of 684.1712 pence, with trades executed on 22 July 2026 through Investec Bank on the London Stock Exchange. The company plans to cancel these shares,...
Business Operations and StrategyStock BuybackFinancial Disclosures
Wetherspoon warns on profits despite sales growth and estate investment
Negative
Jul 22, 2026
J D Wetherspoon has issued a corrected pre-close trading update, confirming that like-for-like sales rose 4.0% in the 12 weeks to 19 July 2026 and 4.2% year to date. The group opened eight pubs and sold nine, expanded its franchised estate to 23 s...
Business Operations and StrategyStock BuybackFinancial Disclosures
Wetherspoon warns on profits despite steady sales growth
Negative
Jul 22, 2026
J D Wetherspoon reported like-for-like sales growth of around 4% for the year to date, opened eight pubs while selling nine, and now operates 793 managed pubs alongside a growing franchised estate of 23 sites. The company has been active in capita...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon directors add shares under employee partnership plan
Positive
Jul 16, 2026
J D Wetherspoon has disclosed a series of small share purchases by senior executives and employee directors under its partnership share plan, in which staff buy ordinary shares through monthly salary deductions at the prevailing market price. On 1...
Stock BuybackRegulatory Filings and ComplianceShareholder Meetings
J D Wetherspoon Calls General Meeting on Rule 9 Waiver and Share Buyback Authority
Neutral
Jul 3, 2026
J D Wetherspoon plc has issued a shareholder circular outlining a proposed Rule 9 waiver and seeking a new authority to make market purchases of its ordinary shares. The company has called a general meeting for 23 July 2026, where shareholders wil...
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.