olivLaw · European equity research
Young & Co.'s Brewery, P.L.C. YNGA.L
United Kingdom · London Stock Exchange · ISIN GB00B2NDK765 · Vertical: Listed companies from United Kingdom
Young & Co.'s Brewery is a United Kingdom operator of pubs and hotels whose pub estate, carried at a value of £1,051.6 million at 30 March 2026, dominates the balance sheet. As it moves its listing to the Main Market of the London Stock Exchange, the company is adapting its governance and climate strategy, according to its 2026 annual report.
At the close of 05 Nov 2026, Young & Co.'s Brewery, P.L.C. (YNGA.L) stock was 11.54 GBP (−0.35% on the day), with market capitalisation 715.0 m GBP, P/E 25.6 on diluted EPS of 0.45 GBP over the last 12 months, dividend yield 2.06%, beta 0.45, 52-week range 7.14–12.02 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)
- 65.2
- strong (55–70)
- Bollinger (20, 2)
- 10.05 – 12.66
- in the upper half of the band · %B 0.57 · band width 23.0%
- SMA 50 / 200
- 9.74 / 8.65
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.58 / 0.67
- 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 | +17.8% | −0.6% | +18.4 pp | — |
| 3 months | +26.1% | −4.2% | +30.3 pp | — |
| 6 months | +48.9% | +4.3% | +44.6 pp | — |
| Year to date | +55.9% | +7.5% | +48.4 pp | — |
| 1 year | +48.5% | +9.9% | +38.6 pp | +5.8% |
| 3 years | +6.4% | +49.8% | −43.5 pp | +26.3% |
| 5 years | −21.2% | +42.8% | −64.1 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 50 percentile of its own 2-quarter history (min 16.4, median 31.3, max 46.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2025 | 2026 |
|---|---|---|
| Revenue | 485.8 m | 508.2 m |
| Revenue YoY | unavailable | +4.6% |
| Net income | 9.8 m | 28.0 m |
| Net income YoY | unavailable | +185.7% |
| Diluted EPS | 0.16 | 0.45 |
| Diluted EPS YoY | unavailable | +180.4% |
| net % | 2.0% | 5.5% |
| Free cash flow | 51.3 m | 70.8 m |
Balance sheet & financial health
Fiscal year 2026 · 30 Mar 2026
- Cash
- 8.1 m GBP
- Financial debt
- 232.3 m GBP
- Net debt
- 224.2 m GBP
- Equity
- 793.4 m GBP
- Total assets
- 1.3 bn GBP
- Debt / equity
- 0.29x
- Current ratio
- 0.27x
- ROE
- 3.6%
- ROA
- 2.1%
- FCF margin
- 13.9%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2025 | 2026 | Source (latest year) |
|---|---|---|---|
| Revenue | 485.8 m | 508.2 m | esef· 11 Jun 2026verified |
| Operating income | 37.9 m | 59.3 m | esef· 11 Jun 2026verified |
| Interest expense | 19.9 m | 18.0 m | esef· 11 Jun 2026verified |
| Pre-tax income | 18.1 m | 41.1 m | esef· 11 Jun 2026verified |
| Income tax | 8.1 m | 13.0 m | esef· 11 Jun 2026verified |
| Net income | 9.8 m | 28.0 m | esef· 11 Jun 2026verified |
| Diluted EPS | 0.16 | 0.45 | esef· 11 Jun 2026verified |
| Dividend per share | 0.23 | 0.24 | esef· 11 Jun 2026derived |
Balance sheet · GBP
| Line | 2025 | 2026 | Source (latest year) |
|---|---|---|---|
| Cash | 7.5 m | 8.1 m | esef· 11 Jun 2026verified |
| Receivables | 12.6 m | 10.9 m | esef· 11 Jun 2026verified |
| Inventories | 6.6 m | 6.9 m | esef· 11 Jun 2026verified |
| Current assets | 28.5 m | 29.5 m | esef· 11 Jun 2026verified |
| Property, plant & equipment, net | 1.0 bn | 1.1 bn | esef· 11 Jun 2026verified |
| Goodwill | 77.1 m | 77.1 m | esef· 11 Jun 2026verified |
| Total assets | 1.3 bn | 1.3 bn | esef· 11 Jun 2026verified |
| Short-term debt | 20.0 m | 34.2 m | esef· 11 Jun 2026verified |
| Long-term debt | 232.5 m | 198.1 m | esef· 11 Jun 2026verified |
| Current liabilities | 92.5 m | 111.0 m | esef· 11 Jun 2026verified |
| Total liabilities | 539.9 m | 523.9 m | esef· 11 Jun 2026verified |
| Equity | 774.4 m | 793.4 m | esef· 11 Jun 2026verified |
| Shares outstanding at year end | 60.9 m | 62.0 m | esef· 11 Jun 2026derived |
Cash flow · GBP
| Line | 2025 | 2026 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 98.3 m | 105.2 m | esef· 11 Jun 2026verified |
| Capex | 47.0 m | 34.4 m | esef· 11 Jun 2026verified |
| Free cash flow | 51.3 m ≈ | 70.8 m ≈ | esef· 11 Jun 2026derived |
| Investing cash flow | -37.9 m | -35.0 m | esef· 11 Jun 2026verified |
| Financing cash flow | -73.1 m | -66.3 m | esef· 11 Jun 2026verified |
| Dividends paid | 14.0 m | 14.7 m | esef· 11 Jun 2026verified |
| Share repurchases | 0 | 6.1 m | esef· 11 Jun 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: 46 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 715.0 m GBP
Key indicators
Coverage and freshness
Score by group
- Quality48
- Returns65
- Balance sheet17
- Valuation51
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
Neutral profile · Score 46/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.0% | 21 (vs peers) | 17% |
| Net margin · Quality | 5.5% | 40 (vs peers) | 10% |
| FCF conversion · Quality | 252.9% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 3.3x | 28 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.3x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 25.6x | 11 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.9% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 2.9% | 42 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 20.8% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet17/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality48/100 · 3/3 factors with a value
- Returns65/100 · 2/2 factors with a value
- Valuation51/100 · 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
YOUNG & CO'S BREWERY PLC (YNGA.L). Latest full fiscal year: 2026; data up to 2026-03-30.
Figures computed from the financial statements: revenue 508.2 m GBP in 2026; YoY growth 4.6%; net margin 5.5%; ROE 3.6%.
The estimated value range is 5.10–7.86 GBP per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 6.51 GBP, the price of 11.54 GBP leaves a potential of -43.6% (value / price − 1) and a margin of safety of -77.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 46/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 252.9%
- FCF yield: 9.9%
- Payout ratio (FCF): 20.8%
What contradicts it
- ROIC: 4.0%
- Interest coverage: 3.3x
- Current ratio: 0.3x
- P/E (TTM): 25.6x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): 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% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| YNGA.LYoung & Co's Brewery PLC | 715.0 m | 25.6 | 3.6% | 5.5% | +4.6% | +54% / +6% |
| 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 YNGA.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 | 6.83 Total return -39% · Per year -39% | 12.08 Total return 7% · Per year 7% | 18.20 Total return 60% · Per year 60% |
| 3 years | 6.65 Total return -38% · Per year -15% | 13.22 Total return 21% · Per year 7% | 21.87 Total return 98% · Per year 26% |
| 5 years | 6.47 Total return -36% · Per year -9% | 14.47 Total return 37% · Per year 7% | 26.27 Total return 143% · Per year 19% |
- Exit P/E± 3.31
- Net margin± 2.31
- Annual revenue growth± 1.90
- Annual dilution± 0.19
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
Young & Co.'s Brewery is a United Kingdom operator of pubs and hotels whose pub estate, carried at a value of £1,051.6 million at 30 March 2026, dominates the balance sheet. As it moves its listing to the Main Market of the London Stock Exchange, the company is adapting its governance and climate strategy, according to its 2026 annual report 1.
SWOT
Strengths
- A large portfolio of owned properties provides a significant asset base and flexibility in managing sites.
- Predominantly UK sourcing supports control over costs and the supply chain.
- Governance is being consolidated, with specialist committees and an explicit board succession plan.
Weaknesses
- Dependence on domestic consumption and seasonality makes revenue sensitive to weather and economic conditions.
- High maintenance and cooling costs for older properties, including listed buildings.
- The audit committee operates with fewer members after resignations, temporarily limiting oversight capacity.
Opportunities
- Expanding outdoor spaces could attract more customers in warmer seasons.
- Investment in energy efficiency and solar power could reduce exposure to volatile energy prices.
- The move to the Main Market could widen the institutional investor base and improve access to capital.
Threats
- Changes in climate policy and reporting standards could impose unexpected compliance costs.
- Extreme weather could disrupt agricultural supply and reduce sales.
- Competitive pressure in the hospitality sector could limit price increases and margins.
Risks
- Refinancing of a facilitymedium
A significant facility falls due in May 2027, and refinancing it on similar terms could affect group cash flow.
- Valuation of the property estatehigh
The large property value depends on valuation assumptions; a change of external valuer or of assumptions could alter the balance sheet.
- Physical climate riskmedium
Extreme heat and drought could affect agricultural output and costs if such events become more frequent over the long term.
- Compliance with climate standardsmedium
Delays in aligning with new reporting standards or zero-carbon building requirements could affect investment and asset value.
- Energy efficiencylow
If the energy reduction programme does not deliver the expected results, operating costs could remain high.
Investment thesis
What would need to be true (bull case)
- If summer sales rise and outdoor spaces attract steady customers, revenue could benefit from a valuable property portfolio.
- The move to the Main Market could bring new investors and a better valuation of the company if governance is seen as strong.
- Investment in solar power and energy efficiency could lower long-term costs and reduce exposure to price shocks.
What would break the thesis
- If the 2027 facility refinancing takes place on harder terms, cash flow could be more constrained.
- High property valuations could be revised downward, affecting the balance sheet and investor perception.
- If domestic consumption falls or extreme weather becomes frequent, pub sales could suffer.
What to watch
- Refinancing process for the £50.0 million facility2027
- Progress of energy reduction at the 44 highest-consuming pubsFY27
- Alignment with UK sustainability reporting standards2027
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 company runs a portfolio of pubs, hotels and office spaces, mostly in the United Kingdom, and largely sources its supplies from local suppliers. The annual report for the year ended 30 March 2026 shows that its properties are the main asset, valued at £1,051.6 million 1. The group adopted the going concern basis, supported by £303.3 million of facilities expected to be available to 28 June 2027 1.
The governance structure is in transition: the nominations committee, set up in June 2025, is preparing the move to the Main Market and compliance with the UK Corporate Governance Code. The board has nine directors, five of them independent, and the audit committee was reduced to two non-executive members after a director resigned in March 2026 1.
The company includes environmental goals in its strategy, such as reducing energy use, managing food waste and installing solar panels. For FY26 it targeted the 44 highest-consuming pubs, and 70 solar panels were installed across three sites 1.
Segments
Pubs and hotels
The core segment consists of directly managed pubs, some with rooms for overnight stays. The £1,051.6 million property portfolio shows that the business rests on owning its premises, not only on drink and food sales 1.
Offices and customer services
The company mentions office spaces and hotels in its climate risk analysis, suggesting complementary activity beyond pubs whose figures are not detailed in the available extract 1.
Market context
The core market is the United Kingdom, where pubs depend on domestic consumption, seasonality and weather. The annual report notes that warm weather can attract customers in peak periods, while extreme temperatures can reduce activity through temporary kitchen closures or customers staying at home 1. The move to the Main Market could change how investors assess the company.
Pressure from energy and supply costs remains significant. The company acknowledges that climate-linked swings in energy and agricultural prices can affect margins, which is why it invests in cooling systems and renewable energy 1.
Trends
- Move to the Main Marketmixed
Changing the listing to the Main Market requires compliance with the UK Corporate Governance Code and higher reporting standards, which could raise administrative costs but also investor confidence.
- Warm weather and peak demandtailwind
Higher average temperatures may increase pub visits in the summer season, according to the company's assessment, which could support sales if outdoor spaces are well equipped.
- Energy and cooling costsheadwind
Rising spending on cooling and energy, along with price volatility, could reduce margins if energy efficiency does not advance enough.
- New climate standards and rulesheadwind
The introduction of UK sustainability reporting standards and zero-carbon building requirements could require capital investment in refurbishment and electrification.
Competitive position
The annual report does not identify direct competitors or market shares. Competition in the British pub sector is nonetheless strong, and the company differentiates itself through its own property portfolio and largely local sourcing, both noted in the document 1.
The company relies on customer loyalty and the quality of the pub experience, and developing outdoor spaces and service in busy periods are its tools for differentiation 1.
- UK pub and restaurant operators
Competitors in the British hospitality sector, not named in the source; not listed on a US exchange.
- Hotel and hospitality chains
Competition for overnight stays and events, noted in general terms without comparative data in the report.
- Restaurant operators with accommodation
Players competing for the same weekend and summer visits.
- Independent pubs and craft drinks
Local competition that influences prices and customer preferences, not listed on a US exchange.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202611 Jun 2026
- Annual report 202611 Jun 2026
Sources
- [1] Annual report, fiscal year ended 2026-03-30 (ESEF) · SEC / Young & Co.'s Brewery, P.L.C. · 30 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.