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Spire Healthcare
(LSE:SPI)
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Rating:64Neutral
Price Target:
250.00 p
▲(5.49% Upside)
Action:Reiterated
Date:08/17/26
The overall score is driven primarily by solid operational performance and cash generation, but is held back by high leverage and weak net-income conversion. Technicals add support via a clear uptrend, while valuation is the main downside due to a high P/E and low dividend yield.
Positive Factors
Sustained Revenue Expansion
The substantial multi-year revenue increase indicates durable demand for Spire’s private healthcare, diagnostics and publicly funded services. Continued volume growth gives the group a broader base over which to spread hospital and clinical operating costs.
Negative Factors
Elevated Leverage
High leverage leaves less balance-sheet protection if patient volumes, reimbursement or margins weaken. It can also increase sensitivity to financing costs and restrict capital allocation, making expansion and investment more dependent on cash-flow stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Expansion
The substantial multi-year revenue increase indicates durable demand for Spire’s private healthcare, diagnostics and publicly funded services. Continued volume growth gives the group a broader base over which to spread hospital and clinical operating costs.
Read all positive factors
Spire Healthcare (SPI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£987.82M
Dividend Yield0.61%
Average Volume (3M)1.49M
Price to Earnings (P/E)60.4
Beta (1Y)0.63
Revenue Growth4.54%
EPS Growth-34.92%
CountryUK
Employees17,800
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.04
Shares Outstanding402,759,600
10 Day Avg. Volume1,876,837
30 Day Avg. Volume1,489,647
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)0.90
Price to Sales (P/S)0.42
P/FCF Ratio4.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£262.50Price Target Upside10.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.1
Revenue Forecast (FY)£1.65B
Spire Healthcare Business Overview & Revenue Model
Company Description
Spire Healthcare Group plc, together with its subsidiaries, owns and operates private hospitals and clinics in the United Kingdom. It operates in two segments: Hospitals Business and Primary Care. The company provides diagnostics, inpatient, day c...
How the Company Makes Money
Spire Healthcare makes money primarily by charging for healthcare services delivered through its hospitals and clinics. Key revenue streams typically include: (1) Private patient revenue: fees paid by self-paying patients and by private medical in...
Spire Healthcare Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
54
Neutral
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.58B | 1.51B | 1.36B | 1.20B | 1.11B |
| Gross Profit | 599.10M | 683.60M | 520.60M | 440.50M | 394.10M |
| EBITDA | 265.70M | 250.40M | 231.20M | 193.30M | 182.20M |
| Net Income | 16.40M | 25.40M | 27.30M | 8.60M | -9.70M |
Balance Sheet | |||||
| Total Assets | 2.38B | 2.34B | 2.29B | 2.16B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 34.70M | 43.70M | 49.60M | 74.20M | 202.60M |
| Total Debt | 1.32B | 1.28B | 1.26B | 1.19B | 1.27B |
| Total Liabilities | 1.63B | 1.60B | 1.55B | 1.43B | 1.53B |
| Stockholders Equity | 742.80M | 748.40M | 739.90M | 731.00M | 709.60M |
Cash Flow | |||||
| Free Cash Flow | 143.00M | 123.60M | 115.50M | 72.80M | 101.30M |
| Operating Cash Flow | 219.30M | 235.70M | 199.90M | 160.50M | 170.60M |
| Investing Cash Flow | -90.40M | -99.00M | -157.20M | -98.00M | -48.30M |
| Financing Cash Flow | -135.40M | -145.10M | -82.90M | -190.90M | -26.00M |
Spire Healthcare Technical Analysis
Positive
237.00
Price Trends
228.74
Positive
212.76
Positive
197.11
Positive
Market Momentum
3.68
Negative
69.90
Neutral
84.02
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SPI, the sentiment is Positive. The current price of 237 is above the 20-day moving average (MA) of 236.02, above the 50-day MA of 228.74, and above the 200-day MA of 197.11, indicating a bullish trend. The MACD of 3.68 indicates Negative momentum. The RSI at 69.90 is Neutral, neither overbought nor oversold. The STOCH value of 84.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:SPI.
Spire Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | £987.82M | 60.44 | 2.22% | 0.61% | 4.54% | -34.92% | |
63 Neutral | £452.60M | 28.17 | 6.65% | 2.56% | 3.46% | 46.25% | |
59 Neutral | £281.14M | 38.46 | 10.14% | 2.38% | 16.51% | 97.67% | |
56 Neutral | £264.87M | 156.01 | 0.83% | ― | 14.84% | -15.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | £297.65M | -0.60 | -31.83% | ― | -5.89% | -310.69% | |
41 Neutral | £300.80M | -5.05 | 409.00% | ― | 2.94% | -32.00% |
* Healthcare Sector Average
GB:SPI
Spire Healthcare
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Spire Healthcare Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Spire Healthcare extends Toscafund bid deadline as financing nears completion
Neutral
Aug 6, 2026
Spire Healthcare has confirmed that funds advised by Toscafund Asset Management, its second-largest shareholder, are continuing to work towards a possible recommended cash offer of 250 pence per share for the entire company, including an option fo...
Business Operations and StrategyFinancial Disclosures
Spire Healthcare Sets Date for Interim Results Update
Neutral
Jul 21, 2026
Spire Healthcare Group plc, a major independent healthcare provider in the UK with a broad network of hospitals, clinics and workplace health services, continues to leverage its FTSE 250 status and leading position in orthopaedics and NHS talking ...
Business Operations and StrategyExecutive/Board Changes
Spire Healthcare Names Debbie White as Chair-Designate in Planned Leadership Transition
Positive
Jul 14, 2026
Spire Healthcare has announced a planned change in board leadership, with current Chair Sir Ian Cheshire set to step down by no later than 30 September 2026, and senior independent director Debbie White appointed Chair-Designate with immediate eff...
Business Operations and StrategyM&A Transactions
Spire Healthcare grants Toscafund more time on potential £2.50-a-share bid
Positive
Jul 9, 2026
Spire Healthcare said funds advised by Toscafund Asset Management, its second-largest shareholder, continue to explore a possible 250 pence per share cash offer for the entire issued and to be issued share capital, with an optional unlisted rollov...
M&A TransactionsRegulatory Filings and Compliance
Spire Healthcare Grants Toscafund More Time on Potential Takeover Bid
Neutral
Jun 25, 2026
Spire Healthcare has disclosed that discussions with Toscafund Asset Management, its second-largest shareholder, over a possible 250 pence-per-share cash takeover remain ongoing, prompting a further extension of the regulatory deadline. Toscafund ...
Business Operations and StrategyM&A Transactions
Spire Healthcare Wins Takeover Deadline Extension as Toscafund Weighs 250p Bid
Neutral
Jun 11, 2026
Spire Healthcare has secured an extension to the regulatory deadline for Toscafund Asset Management to decide on a possible takeover offer, giving the prospective bidder until 25 June 2026 to announce a firm cash bid at 250 pence per share or walk...
Executive/Board Changes
Spire Healthcare executives boost shareholdings after exercising incentive awards
Positive
May 19, 2026
Spire Healthcare has disclosed that its chief executive, Justin Ash, and chief financial officer, Harbant Samra, have exercised vested share awards under the group’s long-term incentive and deferred bonus schemes. After settling tax obligati...
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.