olivLaw · European equity research
PayPoint plc PAY.L
United Kingdom · London Stock Exchange · ISIN GB00BVMTNR93 · Vertical: Listed companies from United Kingdom
PayPoint plc is a UK payments and community services company that delivers essential services through a unique network of convenience stores across the United Kingdom. It is currently reorganising into four business units with a target of growing net revenue to meet rising demand for digital payments and Open Banking.
At the close of 05 Nov 2026, PayPoint plc (PAY.L) stock was 7.41 GBP (+0.07% on the day), with market capitalisation 492.8 m GBP, P/E 12.7 on diluted EPS of 0.58 GBP over the last 12 months, dividend yield 507.70%, beta 0.22, 52-week range 4.39–7.59 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)
- 66.8
- strong (55–70)
- Bollinger (20, 2)
- 6.75 – 7.57
- in the upper half of the band · %B 0.80 · band width 11.5%
- SMA 50 / 200
- 6.64 / 6.02
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.23 / 0.22
- 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 | +15.7% | −0.6% | +16.4 pp | — |
| 3 months | +22.9% | −4.2% | +27.1 pp | — |
| 6 months | +21.0% | +4.3% | +16.7 pp | — |
| Year to date | +56.4% | +7.5% | +48.9 pp | — |
| 1 year | +7.8% | +9.9% | −2.1 pp | +5.8% |
| 3 years | +23.2% | +49.8% | −26.7 pp | +26.3% |
| 5 years | −4.4% | +42.8% | −47.2 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 75 percentile of its own 4-quarter history (min 0.1, median 4.8, max 25.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 165.2 m | 277.8 m | 280.7 m | 305.6 m |
| Revenue YoY | unavailable | +68.1% | +1.0% | +8.9% |
| Net income | 34.7 m | 35.7 m | 19.2 m | 39.3 m |
| Net income YoY | unavailable | +2.8% | −46.2% | +105.0% |
| Diluted EPS | 49.60 | 48.80 | 0.26 | 0.58 |
| Diluted EPS YoY | unavailable | −1.6% | −99.5% | +122.1% |
| net % | 21.0% | 12.8% | 6.8% | 12.9% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 107.3 m GBP
- Financial debt
- 130.8 m GBP
- Net debt
- 23.5 m GBP
- Equity
- 75.8 m GBP
- Total assets
- 503.8 m GBP
- Debt / equity
- 1.72x
- Current ratio
- 0.96x
- ROE
- 45.4%
- ROA
- 7.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 165.2 m | 277.8 m | 280.7 m | 305.6 m | esef· 07 Jul 2026verified |
| Cost of revenue | 64.3 m | 159.0 m | 174.3 m | 187.9 m | esef· 07 Jul 2026verified |
| Gross profit | 103.5 m | 147.4 m | 136.4 m | 149.1 m | esef· 07 Jul 2026verified |
| Operating income | 45.5 m | 56.3 m | 33.4 m | 63.4 m | esef· 07 Jul 2026verified |
| Interest expense | 2.7 m | 8.4 m | 8.4 m | 9.1 m | esef· 07 Jul 2026verified |
| Pre-tax income | 42.6 m | 48.2 m | 26.3 m | 55.5 m | esef· 07 Jul 2026verified |
| Income tax | 7.9 m | 12.5 m | 7.0 m | 14.3 m | esef· 07 Jul 2026verified |
| Net income | 34.7 m | 35.7 m | 19.2 m | 39.3 m | esef· 07 Jul 2026verified |
| Diluted EPS | 49.60 | 48.80 | 0.26 | 0.58 | esef· 07 Jul 2026verified |
| Dividend per share | 36.24 | 37.60 | — | — | esef· 10 Jul 2024derived |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 77.9 m | 86.8 m | 33.2 m | 107.3 m | esef· 07 Jul 2026verified |
| Receivables | 82.1 m | 123.0 m | 110.0 m | 102.6 m | esef· 07 Jul 2026verified |
| Inventories | 3.2 m | 3.3 m | 6.2 m | 6.1 m | esef· 07 Jul 2026verified |
| Current assets | 251.9 m | 296.6 m | 270.6 m | 263.1 m | esef· 07 Jul 2026verified |
| Property, plant & equipment, net | 29.3 m | 33.3 m | 31.9 m | 31.3 m | esef· 07 Jul 2026verified |
| Goodwill | 117.4 m | 117.4 m | 129.6 m | 129.6 m | esef· 07 Jul 2026verified |
| Intangibles (excl. goodwill) | 75.3 m | 67.1 m | 71.9 m | 74.5 m | esef· 07 Jul 2026verified |
| Total assets | 480.0 m | 519.1 m | 508.3 m | 503.8 m | esef· 07 Jul 2026verified |
| Accounts payable | 255.5 m | 281.9 m | 272.4 m | 262.4 m | esef· 07 Jul 2026verified |
| Short-term debt | 11.7 m | 16.4 m | 265.0 k | 260.0 k | esef· 07 Jul 2026verified |
| Long-term debt | 82.7 m | 77.5 m | 102.0 m | 130.5 m | esef· 07 Jul 2026verified |
| Current liabilities | 268.7 m | 301.0 m | 284.6 m | 274.2 m | esef· 07 Jul 2026verified |
| Total liabilities | 368.3 m | 398.0 m | 411.0 m | 428.0 m | esef· 07 Jul 2026verified |
| Equity | 111.7 m | 121.2 m | 97.3 m | 75.8 m | esef· 07 Jul 2026verified |
| Shares outstanding at year end | 692.8 k | 726.8 k | 72.1 m | 66.6 m | esef· 07 Jul 2026derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|
| Capex | 7.8 m | 11.1 m | 9.2 m | 8.1 m | esef· 07 Jul 2026verified |
| Investing cash flow | 7.9 m | -16.3 m | -43.9 m | -21.6 m | esef· 07 Jul 2026verified |
| Financing cash flow | 17.1 m | -28.8 m | -34.1 m | -26.3 m | esef· 07 Jul 2026verified |
| Dividends paid | 25.1 m | 27.3 m | — | — | esef· 10 Jul 2024verified |
| Share repurchases | — | — | 14.9 m | 30.1 m | esef· 07 Jul 2026verified |
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: 65 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 492.8 m GBP
Key indicators
Coverage and freshness
Score by group
- Quality74
- Growth50
- Balance sheet56
- Returns87
- Valuation72
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 65/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 35.4% | 88 (vs peers) | 17% |
| Net margin · Quality | 12.9% | 51 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 22.8% | 100 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | -77.3% | 0 (on a fixed band) | 14% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 6.9x | 84 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 1.0x | 13 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 12.7x | 72 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 6.1% | 87 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet56/100 · 2/3 factors with a value
- Growth50/100 · 2/2 factors with a value
- Quality74/100 · 2/3 factors with a value
- Returns· partial87/100 · 1/2 factors with a value
- Valuation· partial72/100 · 1/3 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
PAYPOINT PLC (PAY.L). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 305.6 m GBP in 2026; YoY growth 8.9%; net margin 12.9%; ROE 47.0%.
The estimated value range is 187.69–232.87 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 208.02 GBP, the price of 7.41 GBP leaves a potential of 2,709.1% (value / price − 1) and a margin of safety of 96.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 65/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 35.4%
- Revenue CAGR 3Y: 22.8%
- Interest coverage: 6.9x
- P/E (TTM): 12.7x
- Shareholder yield (distributions): 6.1%
- The price is below the estimated value range
What contradicts it
- EPS CAGR 3Y: -77.3%
- Current ratio: 1.0x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
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 |
| 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% |
| PAY.LPaypoint PLC | 492.8 m | 12.7 | 47.0% | 12.9% | +8.9% | +52% / +45% |
| 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 PAY.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 | 4.90 Total return -34% · Per year -34% | 8.62 Total return 16% · Per year 16% | 12.93 Total return 75% · Per year 75% |
| 3 years | 5.81 Total return -22% · Per year -8% | 11.40 Total return 54% · Per year 15% | 18.61 Total return 151% · Per year 36% |
| 5 years | 6.89 Total return -7% · Per year -1% | 15.07 Total return 104% · Per year 15% | 26.80 Total return 262% · Per year 29% |
- Exit P/E± 2.85
- Net margin± 1.99
- Annual revenue growth± 1.49
- Annual dilution± 0.17
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
PayPoint plc is a UK payments and community services company that delivers essential services through a unique network of convenience stores across the United Kingdom. It is currently reorganising into four business units with a target of growing net revenue to meet rising demand for digital payments and Open Banking.
SWOT
Strengths
- The UK convenience store network is distinctive in its scale and local presence, giving direct access to communities and many retail partners 1.
- Revenue diversification across four divisions could support solid cash flows and underpin the dividends and share buybacks described in the report 1.
- The digital payments and Open Banking platform provides a base for working with banks, corporates and other partners across several sectors 1.
Weaknesses
- The reorganisation into four divisions brings significant change across the group and may create execution pressure during the transition 1.
- Reliance on retail partners, including forecourt operators, exposes the company to changes in certain parts of the economy 1.
- Profit for the current year is expected to be weighted towards the second half, which could make results harder to anticipate during the year 1.
Opportunities
- Growth in Open Banking payments and online retail could open new opportunities for the digital platform and parcel services 1.
- Expanding partnerships with organisations outside the traditional sectors could reduce dependence on particular client categories, as the company's plans suggest 1.
- Rising demand for digital gift cards and reward solutions could support the Love2shop and Merchant Services divisions 1.
Threats
- The transition to electric vehicles could reduce activity at some retail partners and affect terminal revenue 1.
- Competition from banks and payment providers could limit revenue growth in the digital and commerce divisions 1.
- Rising energy costs and compliance with emissions regulations could weigh on the company's operating margins 1.
Risks
- Reorganisation executionmedium
The reorganisation into four divisions could disrupt ongoing activity if the changes are not implemented smoothly 1.
- Dependence on retail partnersmedium
A large share of forecourt operators could be affected by the transition to electric vehicles, with an impact on terminal revenue 1.
- Emissions regulationlow
Increased emissions reporting and compliance obligations could add costs if not managed efficiently 1.
- Energy costsmedium
Higher energy prices could increase operating costs and reduce demand for the company's energy-related products 1.
- Physical climate effectslow
Changes in precipitation patterns and extreme weather could raise building maintenance costs and affect the store network 1.
Investment thesis
What would need to be true (bull case)
What would break the thesis
- Reorganising the whole group at once could slow execution and delay the benefits expected from the new divisions 1.
- The transition to electric vehicles could reduce revenue from forecourt retail partners, exposing the company to a structural risk 1.
- Competition from banks and payment providers could compress margins in the digital and commerce divisions, especially if clients choose direct solutions 1.
What to watch
- Implementation of the four-division reorganisation and its effect on ongoing activityFY27
- Development of Open Banking payments and the contribution of the Digital Payments divisionnext 10-K
- Payment of the proposed final dividend and progress towards dividend cover above 2.0 times earnings by FY282026
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
PayPoint describes its purpose as delivering innovative technology, payments and services that make people's lives a little easier every day. Its network of over 30,000 convenience stores, together with support for more than 65,000 retailer partner and SME locations, is its main competitive advantage. The group is organised into four divisions: Network Services, Digital Payments & Open Banking, Love2shop and Merchant Services 1.
The business model combines community services delivered through the store network with a technology platform for digital payments, Open Banking and API-led services for banks, corporates, fintechs and consumer brands. Revenue is spread across cash deposit services, parcels, bill payments, gifting and rewards, and payment solutions for small businesses. The company says this diversification supports cash flows, consistent dividends and share buybacks 1.
For the year ended 31 March 2026, the company proposed a final dividend of 20 pence per share and an extended buyback programme, while its dividend policy aims to raise dividend cover from 1.5 to over 2.0 times earnings by FY28 1.
Segments
Network Services
Network Services delivers essential community services through the convenience store network, including depositing cash into bank accounts, sending and collecting parcels, paying bills and accessing digital brands 1.
Digital Payments & Open Banking
Digital Payments & Open Banking provides a technology platform combining digital payments, Open Banking and real-time credit scoring, allowing large service organisations to offer customers payment choice 1.
Merchant Services
Merchant Services provides point of sale and online merchant payment solutions, terminal rentals and business finance that support small and medium-sized businesses across the UK 1.
Market context
Card payments remain dominant in the UK, with 31.1 billion payments and a forecast share of 67% of total payments by 2034, which could support demand for the company's digital payment infrastructure 1. Digital gift card sales grew 26%, and internet sales reached 27.5% of total retail sales in 2025 1.
Trends
- Growth of Open Banking paymentstailwind
Rapid growth in Open Banking payments could support the Digital Payments division if adoption keeps accelerating and banks and merchants expand their API integrations 1.
- Expansion of online retailmixed
A rising share of online retail could increase parcel volumes and digital payments, but could also gradually reduce dependence on physical store transactions 1.
- Transition to electric vehiclesheadwind
The shift to electric vehicles could affect forecourt operators, which are important retail partners, and could reduce terminal revenue if these locations change their business models 1.
- Contactless card paymentsmixed
Contactless payments reached 34% of card payments, and their continued growth could increase demand for merchant payment solutions, although they may compete with the company's traditional products 1.
Competitive position
The supplied sources do not name a clear set of direct competitors, so the market appears fragmented across payment providers, service networks and fintech platforms. The company's stated advantage is the size and depth of its UK convenience store network 1.
Digital Payments and Merchant Services face competition from payment providers and banks offering similar solutions, while Love2shop competes in the consumer and employee gifting and rewards market 1.
- Payment processors and card acquirers
Compete in point of sale and online payment solutions for merchants, an area covered in the company's report 1.
- Banks and Open Banking providers
Can offer direct payment services to customers, competing with the company's digital platform for organisations seeking payment options 1.
- Gift card and rewards platforms
Compete with the Love2shop division in gift card sales and employee and consumer reward solutions 1.
- Parcel networks and delivery services
Compete with the parcel collection and sending services offered through the company's store network 1.
News & filings
In the press
- Fraudă în România la aparate SelfPay și PayPoint. Angajați ai unor magazine, puși să transfere ilegal baniProfit.ro · 05 Nov 2026 · RO
- Cum au fost păcăliți angajații unor magazine să transfere peste 200.000 de lei prin terminalele SelfPay și PayPointSpotMedia.ro · 05 Nov 2026 · RO
- PayPoint lansează oferta de Black Friday pentru comercianți: super pachet cu costuri zero timp de 6 luniProfit.ro · 03 Nov 2026 · RO
- PayPoint vine în sprijinul comercianților parteneri și lansează agentul bazat pe inteligență artificială EMAProfit.ro · 29 Oct 2026 · RO
- PayPoint: O rețea cu ajutorul căreia comercianții parteneri își dezvoltă afacereaProfit.ro · 23 Oct 2026 · RO
- PayPoint reactivează plata rovinietei la terminale și adaugă două servicii opționale pentru șoferiProfit.ro · 02 Oct 2026 · RO
- PayPoint România îşi continuă activitatea fără întreruperi şi lansează noi direcţii strategice de businessMoney.ro · 28 May 2026 · RO
Annual reports (ESEF)
- Annual report 202607 Jul 2026
- Annual report 202410 Jul 2024
- Annual report 202410 Jul 2024
Sources
- [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / PayPoint plc · 31 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.