olivLaw · European equity research
Rightmove plc RMV.L
United Kingdom · London Stock Exchange · ISIN GB00BGDT3G23 · Vertical: Listed companies from United Kingdom
Rightmove is the UK's largest property portal, connecting buyers, renters and agents. The platform captures over 80% of all time spent on property portals, and the company aims to become Net Zero by 2040, an ambition that matters as the property sector, responsible for around 25% of total UK emissions, faces tighter environmental rules.
At the close of 05 Nov 2026, Rightmove plc (RMV.L) stock was 5.50 GBP (−2.38% on the day), with market capitalisation 4.3 bn GBP, P/E 19.7 on diluted EPS of 0.28 GBP over the last 12 months, dividend yield 1.85%, beta 0.40, 52-week range 4.04–6.55 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 60.5
- strong (55–70)
- Bollinger (20, 2)
- 4.88 – 5.69
- in the upper half of the band · %B 0.77 · band width 15.3%
- SMA 50 / 200
- 4.98 / 4.59
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.15 / 0.14
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +21.4% | −0.6% | +22.0 pp | — |
| 3 months | +17.1% | −4.2% | +21.3 pp | — |
| 6 months | +28.6% | +4.3% | +24.2 pp | — |
| Year to date | +5.9% | +7.5% | −1.6 pp | — |
| 1 year | −17.9% | +9.9% | −27.8 pp | +5.8% |
| 3 years | +18.9% | +49.8% | −30.9 pp | +26.3% |
| 5 years | −21.7% | +42.8% | −64.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 33 percentile of its own 3-quarter history (min 18.6, median 23.6, max 26.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 364.3 m | 389.9 m | 425.1 m |
| Revenue YoY | unavailable | +7.0% | +9.0% |
| Net income | 199.2 m | 192.7 m | 217.1 m |
| Net income YoY | unavailable | −3.2% | +12.6% |
| Diluted EPS | 0.24 | 0.24 | 0.28 |
| Diluted EPS YoY | unavailable | −0.4% | +15.2% |
| net % | 54.7% | 49.4% | 51.1% |
| Free cash flow | 204.7 m | 210.2 m | 235.4 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 37.2 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- 82.3 m GBP
- Total assets
- 128.2 m GBP
- Debt / equity
- unavailable
- Current ratio
- 1.89x
- ROE
- 266.1%
- ROA
- 176.0%
- FCF margin
- 55.4%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 364.3 m | 389.9 m | 425.1 m | esef· 07 Apr 2026verified |
| Operating income | 258.0 m | 256.3 m | 287.9 m | esef· 07 Apr 2026verified |
| Interest expense | 491.0 k | 547.0 k | 557.0 k | esef· 07 Apr 2026verified |
| Pre-tax income | 259.8 m | 258.4 m | 290.0 m | esef· 07 Apr 2026verified |
| Income tax | 60.6 m | 65.7 m | 72.9 m | esef· 07 Apr 2026verified |
| Net income | 199.2 m | 192.7 m | 217.1 m | esef· 07 Apr 2026verified |
| Diluted EPS | 0.24 | 0.24 | 0.28 | esef· 07 Apr 2026verified |
| Dividend per share | 0.09 | 0.09 | 0.10 | esef· 07 Apr 2026derived |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 33.6 m | 35.8 m | 37.2 m | esef· 07 Apr 2026verified |
| Receivables | 31.5 m | 29.0 m | 32.4 m | esef· 07 Apr 2026verified |
| Current assets | 71.3 m | 72.4 m | 76.5 m | esef· 07 Apr 2026verified |
| Property, plant & equipment, net | 9.4 m | 8.4 m | 9.5 m | esef· 07 Apr 2026verified |
| Total assets | 104.9 m | 118.5 m | 128.2 m | esef· 07 Apr 2026verified |
| Accounts payable | 24.7 m | 27.0 m | 32.6 m | esef· 07 Apr 2026verified |
| Current liabilities | 29.6 m | 32.7 m | 40.5 m | esef· 07 Apr 2026verified |
| Total liabilities | 35.5 m | 37.6 m | 45.9 m | esef· 07 Apr 2026verified |
| Equity | 69.4 m | 80.9 m | 82.3 m | esef· 07 Apr 2026verified |
| Shares outstanding at year end | 812.9 m | 789.8 m | 772.5 m | esef· 07 Apr 2026derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 206.7 m | 211.3 m | 236.3 m | esef· 07 Apr 2026verified |
| Capex | 2.0 m | 1.1 m | 903.0 k | esef· 07 Apr 2026verified |
| Free cash flow | 204.7 m ≈ | 210.2 m ≈ | 235.4 m ≈ | esef· 07 Apr 2026derived |
| Investing cash flow | -1.7 m | -17.2 m | -7.7 m | esef· 07 Apr 2026verified |
| Financing cash flow | -206.5 m | -191.9 m | -227.1 m | esef· 07 Apr 2026verified |
| Dividends paid | 71.7 m | 74.3 m | 78.6 m | esef· 07 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 4.3 bn GBP
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 51.1% | 94 (vs peers) | 12% |
| FCF conversion · Quality | 108.4% | 100 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 516.8x | 100 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 1.9x | 91 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 19.7x | 28 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 5.5% | 69 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 1.8% | 26 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 33.4% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet96/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality97/100 · 2/3 factors with a value
- Returns56/100 · 2/2 factors with a value
- Valuation46/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RIGHTMOVE PLC (RMV.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 425.1 m GBP in 2025; YoY growth 9.0%; net margin 51.1%; ROE 266.1%.
The estimated value range is 2.08–3.05 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 2.57 GBP, the price of 5.50 GBP leaves a potential of -53.3% (value / price − 1) and a margin of safety of -114.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 51.1%
- FCF conversion: 108.4%
- Interest coverage: 516.8x
- Current ratio: 1.9x
- Payout ratio (FCF): 33.4%
What contradicts it
- P/E (TTM): 19.7x
- Shareholder yield (distributions): 1.8%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| RMV.LRightmove PLC | 4.3 bn | 19.7 | 266.1% | 51.1% | +9.0% | +0% / +1% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for RMV.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 3.41 Total return -36% · Per year -36% | 6.02 Total return 11% · Per year 11% | 9.06 Total return 67% · Per year 67% |
| 3 years | 3.62 Total return -29% · Per year -11% | 7.16 Total return 37% · Per year 11% | 11.78 Total return 122% · Per year 31% |
| 5 years | 3.84 Total return -22% · Per year -5% | 8.51 Total return 67% · Per year 11% | 15.32 Total return 194% · Per year 24% |
- Exit P/E± 1.79
- Net margin± 1.25
- Annual revenue growth± 0.99
- Annual dilution± 0.11
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Rightmove is the UK's largest property portal, connecting buyers, renters and agents. The platform captures over 80% of all time spent on property portals, and the company aims to become Net Zero by 2040, an ambition that matters as the property sector, responsible for around 25% of total UK emissions, faces tighter environmental rules.
SWOT
Strengths
Weaknesses
- Dependence on a single revenue stream tied to agent and homeowner activity makes the company sensitive to the property cycle.
- The supply chain is the largest source of emissions, so progress depends on supplier commitments 1.
- Some targets, such as shifting domestic air travel to rail, have not yet been implemented 1.
Opportunities
Threats
- New rules on environmental information in listings could reduce clients' advertising budgets 1.
- Extreme weather could disrupt data centres, although the company says recovery plans are in place 1.
- Dependence on cloud and external infrastructure providers could create operational risks if they face problems.
Risks
- Environmental regulation pressuremedium
New energy efficiency requirements could reduce clients' capacity to spend on advertising if they must allocate extra resources to checks 1.
- Supplier dependencemedium
The supply chain is the largest source of emissions, and reaching targets depends on supplier commitments 1.
- Physical climate riskslow
Extreme weather events could affect data centres or offices, although management considers the impact limited 1.
- Pace of electric vehicle transitionlow
If electric vehicle infrastructure does not develop in time, the emissions reduction plan could be delayed 1.
- Dependence on the property markethigh
Platform activity depends on the economy and on client behaviour in the sector, which can fall in difficult periods 1.
Investment thesis
What would need to be true (bull case)
- A dominant market position and a large share of user time on the platform could support stable revenue if user attention stays concentrated on Rightmove 1.
- If advertising sold to eco-friendly service providers grows, the company could diversify its revenue sources 1.
- A digital model with low environmental impact could leave the company well placed for a low-emission economy 1.
What would break the thesis
- Activity linked to property transactions depends on the economic cycle, and a market downturn could cut client budgets.
- New energy efficiency rules could create costs and delays for agents, which could reduce their advertising spend 1.
- Reaching the Net Zero goal depends on external factors such as government policy and supplier commitments that the company does not control 1.
What to watch
- Progress on migrating data centres to the cloud2026
- Implementation of the electric company car fleet plan2028
- Development of the supplier engagement plan for science-based targets2030
- Impact of new environmental information rules on clients' advertising budgetsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Rightmove runs the digital property listings platform in the UK, where agents and homeowners publish sale and rental listings. The business model is digital and has a relatively low direct environmental impact, according to the annual report for 2025 1. The company states that its platform captures over 80% of all time spent on property portals 1, which gives it a central position in the market.
Segments
Property listings platform
The main segment is the listings platform used by agents and homeowners to publish properties. According to the annual report, the platform also provides data useful to consumers, partners and the UK government 1.
Services for property professionals
A second segment covers products and services for property professionals, including tools that complement listings. The annual report also cites selling advertising to eco-friendly service providers as an opportunity 1.
Market context
Trends
- Energy efficiency regulationmixed
Energy performance certificate (EPC) requirements and new environmental information rules for listings could add pressure on clients, who would have fewer resources to spend on advertising. They could also open space for green content 1.
- Transition to clean energymixed
The global transition to Net Zero and access to infrastructure for electric vehicles are external factors the climate plan depends on. If the transition slows, the plan could be affected 1.
- Artificial intelligence and energy usemixed
Most AI products and workloads run on Google Cloud Platform, which has a goal of 24/7 carbon-free energy by 2030 1. This dependence on cloud providers can cut the carbon footprint but also brings technology dependency risks.
- Consumer demand for green informationtailwind
Consumer demand for climate information and energy-efficient content could raise the platform's value if such information becomes standard in listings 1.
Competitive position
Competition comes mainly from other property portals and digital platforms seeking the attention of buyers and renters. The annual report does not name competitors, but it stresses that user attention is concentrated on the Rightmove platform 1.
- Other UK property portals
Direct competitors offering property listings to the same audience. The analysed sources do not name them.
- General online classified platforms
Sites that can attract users looking for homes without being specialised in property.
- Estate agents publishing on their own websites
Agents using their own channels could reduce dependence on a single portal, if they choose this strategy.
- Cloud and data providers
Infrastructure and data providers could become indirect competitors for access to property information.
News & filings
In the press
- Before Rightmove, there was the CosmoramaHacker News · 11 Aug 2026 · EN
Annual reports (ESEF)
- Annual report 202507 Apr 2026
- Annual report 202507 Apr 2026
- Annual report 202415 Apr 2025
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Rightmove plc · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.