olivLaw · European equity research
Moonpig Group PLC MOON.L
United Kingdom · London Stock Exchange · ISIN GB00BMT9K014 · Vertical: Listed companies from United Kingdom
Moonpig Group PLC, a British online platform for greeting cards, gifts and experiences, reported solid profit growth for fiscal 2026, with revenue up 6.5%. The company plays a central role in the shift from offline to online purchasing, and if it sustains its growth it could keep returning capital to shareholders.
At the close of 05 Nov 2026, Moonpig Group PLC (MOON.L) stock was 2.89 GBP (+0.00% on the day), with market capitalisation 922.6 m GBP, P/E 18.5 on diluted EPS of 0.16 GBP over the last 12 months, dividend yield 0.87%, beta 0.48, 52-week range 1.97–2.98 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)
- 56.5
- strong (55–70)
- Bollinger (20, 2)
- 2.77 – 3.00
- in the upper half of the band · %B 0.53 · band width 8.0%
- SMA 50 / 200
- 2.76 / 2.42
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.03 / 0.04
- MACD below 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 | +6.9% | −0.6% | +7.5 pp | — |
| 3 months | +1.3% | −4.2% | +5.5 pp | — |
| 6 months | +32.2% | +4.3% | +27.9 pp | — |
| Year to date | +42.4% | +7.5% | +34.9 pp | — |
| 1 year | +37.0% | +9.9% | +27.0 pp | +5.8% |
| 3 years | +72.2% | +49.8% | +22.4 pp | +26.3% |
| 5 years | −14.6% | +42.8% | −57.4 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 100 percentile of its own 2-quarter history (min 13.5, median 14.9, max 16.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 341.1 m | 350.1 m | 373.0 m |
| Revenue YoY | unavailable | +2.6% | +6.5% |
| Net income | 34.2 m | -11.1 m | 51.7 m |
| Net income YoY | unavailable | −132.4% | unavailable |
| Diluted EPS | 0.10 | -0.03 | 0.16 |
| Diluted EPS YoY | unavailable | −133.3% | unavailable |
| net % | 10.0% | -3.2% | 13.9% |
| Free cash flow | 73.6 m | 76.9 m | 85.2 m |
Balance sheet & financial health
Fiscal year 2026 · 30 Apr 2026
- Cash
- 9.1 m GBP
- Financial debt
- 106.7 m GBP
- Net debt
- 97.7 m GBP
- Equity
- -54.2 m GBP
- Total assets
- 177.2 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.21x
- ROE
- unavailable
- ROA
- 28.2%
- FCF margin
- 22.9%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 341.1 m | 350.1 m | 373.0 m | esef· 21 Jul 2026verified |
| Cost of revenue | 138.6 m | 141.5 m | 155.0 m | esef· 21 Jul 2026verified |
| Gross profit | 202.5 m | 208.6 m | 218.0 m | esef· 21 Jul 2026verified |
| Operating income | 66.3 m | 13.3 m | 79.6 m | esef· 21 Jul 2026verified |
| Interest expense | 20.1 m | 10.5 m | 10.7 m | esef· 21 Jul 2026verified |
| Pre-tax income | 46.4 m | 3.0 m | 68.9 m | esef· 21 Jul 2026verified |
| Income tax | 12.2 m | 14.0 m | 17.2 m | esef· 21 Jul 2026verified |
| Net income | 34.2 m | -11.1 m | 51.7 m | esef· 21 Jul 2026verified |
| Diluted EPS | 0.10 | -0.03 | 0.16 | esef· 21 Jul 2026verified |
| Dividend per share | 0.00 | 0.02 | 0.03 | esef· 21 Jul 2026verified |
Balance sheet · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 9.6 m | 12.6 m | 9.1 m | esef· 21 Jul 2026verified |
| Receivables | 6.6 m | 5.9 m | 6.5 m | esef· 21 Jul 2026verified |
| Inventories | 7.1 m | 8.5 m | 7.5 m | esef· 21 Jul 2026verified |
| Current assets | 26.3 m | 27.8 m | 23.1 m | esef· 21 Jul 2026verified |
| Property, plant & equipment, net | 26.9 m | 23.2 m | — | esef· 23 Sept 2025verified |
| Total assets | 258.5 m | 190.0 m | 177.2 m | esef· 21 Jul 2026verified |
| Accounts payable | 51.5 m | 53.6 m | 56.9 m | esef· 21 Jul 2026verified |
| Short-term debt | 73.0 k | 111.0 k | 83.0 k | esef· 21 Jul 2026verified |
| Long-term debt | 118.3 m | 95.0 m | 106.7 m | esef· 21 Jul 2026verified |
| Current liabilities | 110.4 m | 108.5 m | 109.7 m | esef· 21 Jul 2026verified |
| Total liabilities | 254.7 m | 223.2 m | 231.5 m | esef· 21 Jul 2026verified |
| Equity | 3.8 m | -33.2 m | -54.2 m | esef· 21 Jul 2026verified |
| Shares outstanding at year end | 341.7 m | 346.3 m | 319.2 m | esef· 21 Jul 2026derived |
Cash flow · GBP
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 74.6 m | 79.2 m | 89.3 m | esef· 21 Jul 2026verified |
| Capex | 965.0 k | 2.3 m | 4.0 m | esef· 21 Jul 2026verified |
| Free cash flow | 73.6 m ≈ | 76.9 m ≈ | 85.2 m ≈ | esef· 21 Jul 2026derived |
| Investing cash flow | -13.5 m | -13.1 m | -15.8 m | esef· 21 Jul 2026verified |
| Financing cash flow | -73.6 m | -63.0 m | -77.0 m | esef· 21 Jul 2026verified |
| Dividends paid | 0 | 3.4 m | 10.3 m | esef· 21 Jul 2026verified |
| Share repurchases | 0 | 24.3 m | — | esef· 23 Sept 2025verified |
≈ 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: 922.6 m 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 | 13.9% | 57 (vs peers) | 12% |
| FCF conversion · Quality | 164.8% | 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 | 7.4x | 91 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 0.2x | 0 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 18.5x | 28 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.2% | 100 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 3.7% | 54 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 12.1% | 100 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet55/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality79/100 · 2/3 factors with a value
- Returns72/100 · 2/2 factors with a value
- Valuation60/100 · 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
MOONPIG GROUP PLC (MOON.L). Latest full fiscal year: 2026; data up to 2026-04-30.
Figures computed from the financial statements: revenue 373.0 m GBP in 2026; YoY growth 6.5%; net margin 13.9%.
The estimated value range is 2.33–3.39 GBP per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 2.82 GBP, the price of 2.89 GBP leaves a potential of -2.5% (value / price − 1) and a margin of safety of -2.6% (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
- FCF conversion: 164.8%
- Interest coverage: 7.4x
- FCF yield: 9.2%
- Payout ratio (FCF): 12.1%
What contradicts it
- Current ratio: 0.2x
- P/E (TTM): 18.5x
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% |
| 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% |
| MOON.LMoonpig Group PLC | 922.6 m | 18.5 | — | 13.9% | +6.5% | +37% / +67% |
| 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 MOON.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 | 1.81 Total return -37% · Per year -37% | 3.20 Total return 12% · Per year 12% | 4.81 Total return 68% · Per year 68% |
| 3 years | 1.83 Total return -35% · Per year -13% | 3.63 Total return 29% · Per year 9% | 5.99 Total return 111% · Per year 28% |
| 5 years | 1.85 Total return -32% · Per year -8% | 4.12 Total return 48% · Per year 8% | 7.45 Total return 165% · Per year 22% |
- Exit P/E± 0.91
- Net margin± 0.64
- Annual revenue growth± 0.51
- Annual dilution± 0.05
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
Moonpig Group PLC, a British online platform for greeting cards, gifts and experiences, reported solid profit growth for fiscal 2026, with revenue up 6.5% 1. The company plays a central role in the shift from offline to online purchasing, and if it sustains its growth it could keep returning capital to shareholders 1.
SWOT
Strengths
- The platform holds proprietary occasion data, a large base of reminders and Plus members, which supports purchase frequency 1.
- In-house production and delivery capabilities support reliability, and the group generates consistent free cash flow 1.
- Most visits come from owned sources, which reduces dependence on discovery channels exposed to changes in search behaviour 1.
Weaknesses
- Experiences is not yet back in growth, and lower commission rates may limit revenue progression in that segment 1.
- Dependence on the greeting card category makes the group sensitive to changes in consumer behaviour 1.
- Attracting and retaining the skills needed for growth is identified as a principal risk in its own right 1.
Opportunities
- Personalisation through data and AI could increase product discovery, conversion and customer lifetime value 1.
- Expansion into new markets, including Australia, could support a scalable growth model 1.
- Higher gift attachment rates and partnerships with established brands could raise average order value 1.
Risks
- Technology security and data protectionhigh
A security breach or loss of customer data could lead to lost revenue, litigation and regulatory penalties 1.
- Consumer demand and strategy deliveryhigh
External factors, including the macroeconomic environment, could affect demand and the group's ability to deliver its strategy 1.
- Agentic AI disintermediationmedium
Changes in online product discovery could reduce direct customer access to the platform, particularly for Experiences 1.
- Attracting and retaining talentmedium
A shortage of needed skills could slow delivery of the growth strategy, a risk the group now classifies as principal 1.
- Brand reputationmedium
An event that damages brand perception or customer experience could reduce customer acquisition and retention 1.
Investment thesis
What would need to be true (bull case)
- The platform combines occasion data, operational reliability and customer loyalty, which could support long-term growth in profit and cash flow 1.
- Consistent free cash flow allows both investment and share buybacks, if performance holds 1.
- Continued improvement at Greetz and Experiences could add growth in segments that are still under pressure 1.
What would break the thesis
- Experiences is not yet back in growth, and progress could be slow if commission rates remain low 1.
- AI assistants could reduce dependence on the platform if product discovery shifts to other environments 1.
- Dependence on discretionary demand and macroeconomic conditions could limit growth if consumer confidence falls 1.
What to watch
- Revenue trajectory and return to growth at ExperiencesFY27
- Execution of the share buyback programme of up to £65mFY27
- Adjusted EBITDA margin against the 25% to 27% targetFY27
- Impact of the new chief executive on strategy and investmentnext 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
Moonpig Group PLC runs a digital platform for greeting cards, gifts and experiences, with the Moonpig and Greetz brands for cards and gifts and Experiences for experiential products 1. The model relies on proprietary occasion data, technology and in-house production and delivery capabilities 1. In fiscal 2026 the active customer base reached 12.3 million, up 2.8% 1.
Segments
Moonpig
Moonpig remains the main driver of the group, with revenue growth of 8.6% for a second consecutive year, supported by new customer acquisition and higher average order value 1.
Greetz and Experiences
Greetz has moved to low single-digit constant currency revenue growth, while Experiences is not yet growing, although its revenue decline narrowed from 8.9% in the first half to 1.9% in the second 1.
Market context
Trends
- Shift from offline to onlinetailwind
Management believes the group is well positioned to increase its market share as the shift from offline to online continues 1.
- Personalisation and datatailwind
Occasion reminders and Plus memberships support purchase frequency, and personalisation at individual customer level is becoming more important 1.
- Generative AImixed
Management sees AI mainly as an enabler of its model, but the risk of disintermediation by AI assistants remains a point of attention if product discovery moves away from the platform 1.
- Consumer demand and macroeconomic conditionsheadwind
Macroeconomic pressure and weaker consumer confidence could reduce demand for discretionary products, although the category is described as relatively resilient in downturns 1.
Competitive position
The analysed sources do not explicitly name competitors, but they note that competitive dynamics and access to product discovery through search and AI channels are relevant factors 1. The company differentiates itself through occasion data, production and delivery capabilities and customer loyalty 1.
- General online gift and flower platforms
Indirect competitors for gift buyers; their level of influence is not detailed in the source.
- Retailers selling gifts online
An alternative for occasion purchases, mentioned only in the general competitive context of the report.
- AI assistants and shopping platforms
A potential risk of disintermediating product discovery, cited in the emerging risks section.
- Printed greeting card producers
Competitors in the physical category, relevant to the analysis of traditional card markets.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202621 Jul 2026
- Annual report 202523 Sept 2025
Sources
- [1] Annual report, fiscal year ended 2026-04-30 (ESEF) · SEC / Moonpig Group PLC · 30 Apr 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.