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Raspberry PI Holdings plc
(LSE:RPI)
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Rating:68Neutral
Price Target:
578.00 p
▼(-1.62% Downside)
Action:Reiterated
Date:10/01/26
The score is driven primarily by strong financial performance (rapid TTM revenue growth and a very low-leverage balance sheet), partially offset by weak cash-flow conversion and prior cash-flow volatility. Technicals are supportive in the near term (above 20/50DMA with positive MACD), while valuation is a key headwind due to the high P/E and no indicated dividend yield.
Positive Factors
Strong revenue growth
Rapid TTM revenue growth indicates expanding demand across Raspberry Pi’s education, hobbyist, embedded, and industrial customer base. If this momentum persists, greater scale can support ecosystem adoption, broaden commercial relevance, and provide a stronger foundation for future earnings growth.
Negative Factors
Weak cash conversion
Operating cash flow remains low relative to reported net income, indicating that accounting earnings are not consistently converting into cash. This can constrain internally funded investment and makes results more dependent on working-capital timing, even though TTM free cash flow is positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Rapid TTM revenue growth indicates expanding demand across Raspberry Pi’s education, hobbyist, embedded, and industrial customer base. If this momentum persists, greater scale can support ecosystem adoption, broaden commercial relevance, and provide a stronger foundation for future earnings growth.
Read all positive factors
Raspberry PI Holdings plc (RPI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.03B
Dividend YieldN/A
Average Volume (3M)613.23K
Price to Earnings (P/E)31.5
Beta (1Y)2.19
Revenue Growth70.72%
EPS Growth238.42%
CountryUK
Employees144
SectorGeneral
Sector StrengthN/A
IndustryComputer Hardware
Share Statistics
EPS (TTM)0.17
Shares Outstanding193,824,780
10 Day Avg. Volume340,028
30 Day Avg. Volume613,228
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)3.24
Price to Sales (P/S)2.37
P/FCF Ratio224.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£815.00Price Target Upside38.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.21
Revenue Forecast (FY)£652.88M
Raspberry PI Holdings plc Business Overview & Revenue Model
Company Description
Raspberry Pi Holdings plc is an international firm specializing in the design and development of single-board computers and compute modules. Its extensive product portfolio encompasses various computers and microcontrollers, alongside critical acc...
Raspberry PI Holdings plc Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 497.98M | 245.24M | 202.75M | 213.83M | 152.51M | 102.22M |
| Gross Profit | 109.48M | 51.07M | 50.48M | 48.11M | 30.14M | 27.71M |
| EBITDA | 63.34M | 28.72M | 29.40M | 36.27M | 20.67M | 16.43M |
| Net Income | 37.40M | 16.47M | 9.16M | 25.42M | 13.86M | 10.80M |
Balance Sheet | ||||||
| Total Assets | 359.47M | 246.53M | 331.40M | 208.15M | 122.54M | 93.61M |
| Cash, Cash Equivalents and Short-Term Investments | 21.40M | 20.89M | 45.80M | 33.10M | 27.30M | 25.42M |
| Total Debt | 14.16M | 6.62M | 7.32M | 5.57M | 1.34M | 1.73M |
| Total Liabilities | 150.99M | 67.51M | 121.00M | 83.26M | 33.46M | 23.08M |
| Stockholders Equity | 208.48M | 179.03M | 168.13M | 124.89M | 89.08M | 70.52M |
Cash Flow | ||||||
| Free Cash Flow | 7.06M | 2.58M | -26.30M | 13.49M | 2.83M | -5.17M |
| Operating Cash Flow | 9.85M | 3.95M | -3.20M | 16.55M | 11.55M | 200.68K |
| Investing Cash Flow | -22.62M | -13.81M | -23.10M | -23.10M | -8.72M | -5.37M |
| Financing Cash Flow | 6.24M | -3.64M | 29.80M | 15.84M | -4.38M | 29.44M |
Raspberry PI Holdings plc Technical Analysis
Negative
587.50
Price Trends
601.46
Negative
674.12
Negative
583.44
Negative
Market Momentum
-21.77
Positive
38.58
Neutral
46.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:RPI, the sentiment is Negative. The current price of 587.5 is below the 20-day moving average (MA) of 602.38, below the 50-day MA of 601.46, and above the 200-day MA of 583.44, indicating a bearish trend. The MACD of -21.77 indicates Positive momentum. The RSI at 38.58 is Neutral, neither overbought nor oversold. The STOCH value of 46.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:RPI.
Raspberry PI Holdings plc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £107.81M | 16.88 | 19.61% | 4.58% | 10.31% | 21.25% | |
68 Neutral | £1.03B | 31.48 | 19.29% | ― | 70.72% | 238.42% | |
65 Neutral | £99.30M | 20.11 | 9.24% | ― | 12.56% | 23.36% | |
64 Neutral | £793.96M | 27.53 | 9.04% | 1.57% | 4.82% | 17.80% | |
60 Neutral | £96.83M | 23.61 | 6.51% | 1.62% | 23.25% | 700.00% | |
58 Neutral | £347.99M | -9.74 | -24.38% | 3.68% | -2.68% | 47.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
GB:RPI
Raspberry PI Holdings plc
530.50
162.90
44.31%
GB:QTX
Quartix Holdings
222.50
-41.14
-15.60%
GB:SDI
SDI Group
94.50
11.00
13.17%
GB:SOLI
Solid State
170.00
29.78
21.24%
GB:TTG
TT Electronics
195.00
43.60
28.80%
GB:DSCV
discoverIE Group plc
826.00
250.52
43.53%
Raspberry PI Holdings plc Corporate Events
Business Operations and StrategyFinancial Disclosures
Raspberry Pi posts record H1 as demand and strategic inventory drive surge in revenue and profit
Positive
Sep 24, 2026
Raspberry Pi Holdings reported a record first half for 2026, with revenue surging 90% year-on-year to $256.9 million and adjusted EBITDA more than doubling to $40.3 million, driven by strong OEM and reseller demand, higher unit shipments and a fav...
Financial Disclosures
Raspberry Pi Sets Date for Half-Year Results and Investor Briefings
Neutral
Sep 8, 2026
Raspberry Pi Holdings plc, a Cambridge-based leader in low-cost, high-performance computing platforms, serves industrial and embedded users, enthusiasts and educational institutions, and semiconductor customers worldwide. The company leverages ful...
Business Operations and StrategyRegulatory Filings and Compliance
Raspberry Pi updates share capital after LTIP share admission
Neutral
Aug 3, 2026
Raspberry Pi Holdings plc, the Cambridge-based maker of low-cost, high-performance computing platforms, designs and develops hardware and software across the semiconductor value chain. Its products target industrial and embedded customers, hobbyis...
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.