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olivLaw · European equity research

Coventry Building Society CVBP.L

United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom

165.25GBP0.00% · 1 dayClose 05 Nov 2026

Coventry Building Society is a UK mutual focused on high-quality prime residential mortgage lending and savings for its members. In 2025 it grew sharply through the acquisition of The Co-operative Bank, which changes its scale and risk profile, with loans to customers of 72.9 billion pounds at year end.

At the close of 05 Nov 2026, Coventry Building Society (CVBP.L) stock was 165.25 GBP (+0.00% on the day), with 52-week range 165.00–165.25 GBP.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
unavailable
P/E (TTM)
unavailable
E/P (TTM)
unavailable
Dividend yield
unavailable
Beta (2y)
unavailable
52-week range
165.00165.25

Price history

Loading chart…

Technical reading

RSI (14)
unavailable
Bollinger (20, 2)
unavailable – unavailable
SMA 50 / 200
unavailable / unavailable
MACD (12, 26, 9)
unavailable / unavailable

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

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 monthunavailable−0.6%unavailable—
3 monthsunavailable−4.2%unavailable—
6 monthsunavailable+4.3%unavailable—
Year to dateunavailable+7.5%unavailable—
1 yearunavailable+9.9%unavailable+6.7%
3 yearsunavailable+49.8%unavailable+24.8%
5 yearsunavailable+42.8%unavailable—
Max drawdown (1y)
0.0%
Max drawdown (5y)
0.0%
Compound annual growth (5y)
unavailable
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).

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.

Fiscal years

Fiscal year2022202320242025
Revenueunavailableunavailableunavailableunavailable
Revenue YoYunavailableunavailableunavailableunavailable
Net income286.2 m351.1 m247.0 m812.0 m
Net income YoYunavailable+22.7%−29.6%+228.7%
Diluted EPSunavailableunavailableunavailableunavailable
Diluted EPS YoYunavailableunavailableunavailableunavailable
net %unavailableunavailableunavailableunavailable
Free cash flow2.2 bn577.6 m-967.0 m-749.0 m

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
11.9 bn GBP
Financial debt
unavailable GBP
Net debt
unavailable GBP
Equity
4.3 bn GBP
Total assets
88.2 bn GBP
Debt / equity
unavailable
Current ratio
unavailable
ROE
20.5%
ROA
1.1%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (GBP)

Income statement · GBP

Gross profit
2023
792.3 m
2024
664.0 m
2025
1.1 bn

esef· 04 Mar 2026verified

Pre-tax income
2023
473.5 m
2024
323.0 m
2025
801.0 m

esef· 04 Mar 2026verified

Income tax
2023
122.4 m
2024
76.0 m
2025
-11.0 m

esef· 04 Mar 2026verified

Net income
2023
351.1 m
2024
247.0 m
2025
812.0 m

esef· 04 Mar 2026verified

Balance sheet · GBP

Cash
2023
8.6 bn
2024
9.9 bn
2025
11.9 bn

esef· 04 Mar 2026verified

Property, plant & equipment, net
2023
51.0 m
2024
47.0 m
2025
101.0 m

esef· 04 Mar 2026verified

Intangibles (excl. goodwill)
2023
49.6 m
2024
55.0 m
2025
269.0 m

esef· 04 Mar 2026verified

Total assets
2023
62.5 bn
2024
64.0 bn
2025
88.2 bn

esef· 04 Mar 2026verified

Total liabilities
2023
59.2 bn
2024
60.4 bn
2025
84.0 bn

esef· 04 Mar 2026verified

Equity
2023
3.2 bn
2024
3.6 bn
2025
4.3 bn

esef· 04 Mar 2026verified

Cash flow · GBP

Operating cash flow
2023
600.4 m
2024
-941.0 m
2025
-681.0 m

esef· 04 Mar 2026verified

Capex
2023
22.8 m
2024
26.0 m
2025
68.0 m

esef· 04 Mar 2026verified

Free cash flow
2023
577.6 m ≈
2024
-967.0 m ≈
2025
-749.0 m ≈

esef· 04 Mar 2026derived

Investing cash flow
2023
25.8 m
2024
1.0 bn
2025
2.4 bn

esef· 04 Mar 2026verified

Financing cash flow
2023
140.7 m
2024
1.4 bn
2025
402.0 m

esef· 04 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
unavailable
input data missing
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
input data missing
Net income growth (YoY)
228.7%
computed by olivLawFY 2025
Net income CAGR 3Y
41.6%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
input data missing
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
input data missing
Net margin
unavailable
input data missing
FCF margin
unavailable
input data missing

Returns

ROE
20.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
1.1%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
unavailable
input data missing
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
unavailable
input data missing
Quick ratio
unavailable
input data missing
Cash ratio
unavailable
input data missing

Cash

Operating cash flow
-681.0 m GBP
computed by olivLawFY 2025
Capital expenditure
68.0 m GBP
computed by olivLawFY 2025
Free cash flow
-749.0 m GBP
computed by olivLawFY 2025
FCF conversion
-92.2%
computed by olivLawFY 2025
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 1 of at least 6
  • score weight coverage: 6.2% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

165.25 GBP

05 Nov 2026Source: olivLaw, closing series

Market cap: unavailable

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
20.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
unavailable
input data missing
Revenue growth (YoY)
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

15/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Source: esefpublished 04 Mar 2026
verified 57

Score by group

6% · 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: indicators available: 1 of at least 6; score weight coverage: 6.2% of at least 60%; valuation methods computed: 0 of at least 1

    FactorValueScoreWeight used
    ROIC · Qualityunavailableunavailable—
    Net margin · Qualityunavailableunavailable—
    FCF conversion · Quality-92.2%0 (on a fixed band)100%
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheetunavailableunavailable—
    Current ratio · Balance sheetunavailableunavailable—
    P/E (TTM) · Valuationunavailableunavailable—
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuationunavailableunavailable—
    Shareholder yield (distributions) · Returnsunavailableunavailable—
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet· partialunavailable · 0/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality· partial0/100 · 1/3 factors with a value
    • Returns· partialunavailable · 0/2 factors with a value
    • Valuation· partialunavailable · 0/3 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

    COVENTRY BUILDING SOCIETY (CVBP.L). Latest full fiscal year: 2025; data up to 2025-12-31.

    Figures computed from the financial statements: ROE 20.5%.

    Valuation cannot be computed from the available data.

    Insufficient data for a verdict (indicators available: 1 of at least 6; score weight coverage: 6.2% of at least 60%; valuation methods computed: 0 of at least 1).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

    What contradicts it

    • FCF conversion: -92.2%

    Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

    Versus the vertical median

    Listed companies from United Kingdom · same country · compared with 40 companies

    Multiples and returns vs the median

    P/E
    —
    vertical median 16.3x
    EV/EBITDA
    —
    vertical median —
    P/S
    —
    vertical median 1.5x
    P/B
    —
    vertical median 2.1x
    ROE
    20.5%
    vertical median 13.9%
    above median (+47.7%)
    Net margin
    —
    vertical median 10.7%
    EBIT margin
    —
    vertical median 21.1%
    Revenue YoY
    —
    vertical median 7.5%
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    —
    vertical median 2.8%

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    BATS.LBritish American Tobacco P.L.C.104.3 bn13.516.5%30.3%−1.0%+7% / +88%
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    BAB.LBabcock International Group PLC5.1 bn24.734.7%4.1%+7.2%−10% / +158%
    AUTO.LAutotrader Group PLC4.8 bn16.460.2%47.1%+3.9%−13% / −23%
    BBY.LBalfour Beatty PLC4.2 bn16.323.2%2.8%+15.2%+20% / +160%
    ABDN.LAberdeen Group PLC4.1 bn10.88.0%28.9%−2.1%+11% / +41%
    BKG.LThe Berkeley Group Holdings PLC3.6 bn11.38.8%13.4%−4.2%−0% / −22%
    BME.LB&M European Value Retail PLC2.9 bn17.421.2%2.8%+3.7%+68% / −51%
    AJB.LAj Bell PLC2.4 bn22.849.9%33.1%+18.0%+8% / +128%
    ASHM.LAshmore Group PLC1.4 bn13.913.1%71.6%−0.1%+28% / +18%
    BCG.LBaltic Classifieds Group PLC1.2 bn23.215.8%57.6%+6.9%−99% / −99%
    APN.LApplied Nutrition PLC763.6 m36.241.2%19.7%+24.2%+71% / unavailable
    BAG.LA.G. Barr P.L.C.671.9 m14.414.4%10.8%+4.0%−7% / +26%
    ASC.LAsos PLC494.5 m—-81.3%-12.0%−14.7%+71% / +8%
    ALFA.LAlfa Financial Software Holdings PLC486.8 m16.361.5%23.8%+15.3%−28% / +10%
    AML.LAston Martin Lagonda Global Holdings PLC344.3 m—-93.4%-39.2%−20.6%−45% / −85%
    APTD.LAptitude Software Group PLC111.3 m28.57.2%6.2%−7.3%−30% / −23%
    BMS.LBraemar PLC78.3 m39.22.7%1.7%−4.4%+13% / −11%
    AMGO.LAmigo Holdings PLC9.9 m———−81.9%+325% / +844%
    ASBE.LAssociated British Engineering PLC605.3 k—-19.1%—unavailableunavailable / unavailable
    AMIF.LAmicorp Fs (uk) PLC221.6 k0.127.5%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%
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    1- and 3-year price returns: for CVBP.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

    Scenarios are not available. input data missing

    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

    Coventry Building Society is a UK mutual focused on high-quality prime residential mortgage lending and savings for its members. In 2025 it grew sharply through the acquisition of The Co-operative Bank, which changes its scale and risk profile, with loans to customers of 72.9 billion pounds at year end 1.

    SWOT

    Strengths

    • A high-quality mortgage book with low LTV and very low arrears levels 1.
    • Solid liquidity and a liquidity coverage ratio well above the regulatory minimum 1.
    • A funding base dominated by customer deposits, with a larger scale after the Bank acquisition 1.

    Weaknesses

    • Heavy reliance on mortgage lending makes the group sensitive to the housing cycle 1.
    • Integrating the Bank adds operational and governance complexity as systems and models are unified 1.
    • Capital and leverage ratios fell after the acquisition, although they remain above minimum requirements 1.

    Opportunities

    • Greater scale could support growth in lending and the deposit base if margins hold steady 1.
    • Support for first-time buyers could expand new lending volumes 1.
    • Customers of the acquired current accounts could become a source of additional income if switching continues to grow 1.

    Threats

    • Basel 3.1 regulatory changes could reduce the reported CET 1 ratio 1.
    • Competition for deposits and loans could compress margins and growth 1.
    • A deterioration in the economy or in house prices could increase arrears in the portfolio 1.

    Risks

    • Integration riskmedium

      Integrating The Co-operative Bank could delay synergies or cause operational problems while the risk framework is still being consolidated 1.

    • Capital riskhigh

      The unified IRB model is expected to be submitted at the end of 2027, and the final output could change risk-weighted assets and capital ratios 1.

    • Mortgage credit riskmedium

      Rising arrears, though still low, could affect portfolio quality if the economy weakens 1.

    • Funding riskmedium

      Dependence on deposits and wholesale funding could become costly if access to capital markets narrows 1.

    • Conduct and compliance risklow

      Customer relationships and compliance with consumer protection rules could create reputational losses if errors occur 1.

    Investment thesis

    What would need to be true (bull case)

    • High mortgage book quality and solid liquidity provide a stable base for growth 1.
    • Greater scale after the acquisition and a higher savings market share could support higher earnings if integration succeeds 1.
    • Repayment of Bank of England scheme funding could lower funding costs in the coming years 1.

    What would break the thesis

    • Integrating the Bank and unifying risk models adds complexity and could postpone expected benefits 1.
    • A lower CET 1 ratio under Basel 3.1 could limit capital flexibility 1.
    • Competition on mortgage margins could reduce the profitability of new lending 1.

    What to watch

    • Evolution of the CET 1 ratio after Basel 3.1 is applied2027
    • Submission of the unified Group IRB modelend of 2027
    • Trend in mortgage arrears over the next three months2026
    • Progress of The Co-operative Bank integration and synergies2026

    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

    The group lends mainly on owner-occupied and buy-to-let mortgages with low loan-to-value ratios, distributed largely through mortgage intermediaries. Funding comes mainly from retail and business deposits, which stood at 71.7 billion pounds at the end of 2025, supplemented by wholesale funding 1. The acquisition of the Bank, completed on 1 January 2025, added current account and deposit balances and widened the regionally diverse mortgage book 1.

    Segments

    Mortgages

    Mortgage lending is the main engine of the business. Most new lending is on owner-occupied homes, and the group continued to support first-time buyers, with over 9,600 loans advanced in 2025 1.

    Savings and deposits

    Retail and business deposits are the funding base of the group. With the Bank acquisition, the group took on current accounts and commercial deposits, and its overall savings market share rose to 3.5 percent 1.

    Unsecured and business lending

    The group also acquired unsecured credit card assets and business and commercial loans, a large part of which relate to PFI and housing association exposures. This portfolio is small relative to the mortgage book 1.

    Market context

    The group operates in the UK mortgage and savings market, where it has long been a regionally diverse mutual. The Bank acquisition greatly increased its scale, and its overall savings market share rose to 3.5 percent from 2.7 percent in 2024 1. Its market position still depends on economic conditions, market pricing and funding conditions 1.

    Sector lending grew in 2025 with more lending in higher LTV segments, and the group took a measured approach given new business margins and the acquisition 1. Asset quality remains high, with arrears very low compared with the industry average 1.

    Trends

    • Integration of The Co-operative Bankmixed

      The Bank acquisition added scale, loans and funding, but it also brings the task of integrating a separate risk model and systems. The group's risk framework is already being unified across the whole group 1.

    • Transition to Basel 3.1headwind

      Basel 3.1 RWA floors are expected to phase in from 2027 and could reduce the reported CET 1 ratio by increasing risk-weighted assets 1. The group estimates a pro-forma ratio of 20.1 percent after removal of the IRB scalar 1.

    • Repayment of Term Funding Scheme drawingstailwind

      During 2025 the group repaid most of its drawings under the Bank of England scheme, reducing reliance on wholesale funding 1. Continued repayment could affect funding costs in later years 1.

    • Pressure on mortgage marginsmixed

      Competition for mortgages and the path of funding costs could compress margins. The group describes a measured approach that could limit volumes if margins remain thin 1.

    Competitive position

    Coventry competes with other mutual societies and with the large UK banks in mortgages and savings. Its position is strengthened by the expanded scale after the Bank acquisition, but the market remains dominated by players with broader access to funding 1. Rivalry on margins and deposits could shape the evolution of its market share 1.

    • Nationwide Building Society

      The largest UK building society, active in the same mortgage and savings markets, and cited in the source for its regional house price index.

    • Major UK commercial banks

      Large banks competing for residential mortgages and retail deposits, with broader access to funding.

    • Other UK building societies

      Regional and national societies serving the same member and mortgage segment.

    • Digital banks and challenger lenders

      New savings and account providers that can attract deposits through rate offers and digital experience.

    News & filings

    In the press

    Annual reports (ESEF)

    Sources

    1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Coventry Building Society · 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.

    Coventry Building Society (CVBP.L): stock, results, valuation and forecast · olivLaw