olivLaw · European equity research
The Rank Group Plc RNK.L
United Kingdom · London Stock Exchange · ISIN GB00B1L5QH97 · Vertical: Listed companies from United Kingdom
The Rank Group is a British gambling operator whose revenues are growing at its Grosvenor casinos and Mecca bingo clubs, alongside a digital division and venues in Spain. Land-based gambling reforms in force since July 2025 could open a new growth cycle for the company.
At the close of 05 Nov 2026, The Rank Group Plc (RNK.L) stock was 0.94 GBP (+0.00% on the day), with market capitalisation 440.8 m GBP, P/E 9.9 on diluted EPS of 0.10 GBP over the last 12 months, dividend yield 1.59%, beta 0.57, 52-week range 0.70–1.18 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)
- 71.1
- overbought (≥ 70)
- Bollinger (20, 2)
- 0.67 – 0.95
- in the upper half of the band · %B 0.97 · band width 34.8%
- SMA 50 / 200
- 0.83 / 0.93
- mixed trend
- MACD (12, 26, 9)
- 0.03 / 0.01
- 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 | +28.5% | −0.6% | +29.1 pp | — |
| 3 months | −6.5% | −4.2% | −2.3 pp | — |
| 6 months | −4.5% | +4.3% | −8.8 pp | — |
| Year to date | −5.4% | +7.5% | −12.9 pp | — |
| 1 year | −19.3% | +9.9% | −29.3 pp | +5.8% |
| 3 years | +43.4% | +49.8% | −6.5 pp | +26.3% |
| 5 years | −42.4% | +42.8% | −85.2 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 0 percentile of its own 2-quarter history (min 14.0, median 19.6, max 25.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 681.9 m | 734.7 m | 795.4 m |
| Revenue YoY | unavailable | +7.7% | +8.3% |
| Net income | -96.2 m | 12.5 m | 44.6 m |
| Net income YoY | unavailable | unavailable | +256.8% |
| Diluted EPS | -0.21 | 0.03 | 0.10 |
| Diluted EPS YoY | unavailable | unavailable | +251.9% |
| net % | -14.1% | 1.7% | 5.6% |
| Free cash flow | 33.2 m | 82.6 m | 79.3 m |
Balance sheet & financial health
Fiscal year 2025 · 30 Jun 2025
- Cash
- 75.4 m GBP
- Financial debt
- 30.2 m GBP
- Net debt
- -45.2 m GBP
- Equity
- 378.7 m GBP
- Total assets
- 789.5 m GBP
- Debt / equity
- 0.08x
- Current ratio
- 0.48x
- ROE
- 12.4%
- ROA
- 5.9%
- FCF margin
- 10.0%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 681.9 m | 734.7 m | 795.4 m | esef· 18 Nov 2025verified |
| Cost of revenue | 521.3 m | 425.8 m | 452.1 m | esef· 18 Nov 2025verified |
| Gross profit | 160.6 m | 308.9 m | 343.3 m | esef· 18 Nov 2025verified |
| Operating income | -110.4 m | 29.4 m | 67.0 m | esef· 18 Nov 2025verified |
| Interest expense | 12.6 m | 13.4 m | 13.2 m | esef· 18 Nov 2025verified |
| Pre-tax income | -123.3 m | 15.5 m | 53.9 m | esef· 18 Nov 2025verified |
| Income tax | -27.2 m | 3.5 m | 9.3 m | esef· 18 Nov 2025verified |
| Net income | -96.2 m | 12.5 m | 44.6 m | esef· 18 Nov 2025verified |
| Diluted EPS | -0.21 | 0.03 | 0.10 | esef· 18 Nov 2025verified |
| Dividend per share | — | 0.00 | 0.01 | esef· 18 Nov 2025derived |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 56.5 m | 62.4 m | 75.4 m | esef· 18 Nov 2025verified |
| Inventories | 2.2 m | 2.0 m | 2.1 m | esef· 18 Nov 2025verified |
| Current assets | 104.3 m | 96.0 m | 94.1 m | esef· 18 Nov 2025verified |
| Property, plant & equipment, net | 97.5 m | 112.5 m | 133.7 m | esef· 18 Nov 2025verified |
| Intangibles (excl. goodwill) | 456.8 m | 446.4 m | 442.3 m | esef· 18 Nov 2025verified |
| Total assets | 736.2 m | 732.5 m | 789.5 m | esef· 18 Nov 2025verified |
| Accounts payable | 128.3 m | 149.0 m | 155.2 m | esef· 18 Nov 2025verified |
| Short-term debt | 63.7 m | 3.3 m | 200.0 k | esef· 18 Nov 2025verified |
| Long-term debt | 0 | 40.6 m | 30.0 m | esef· 18 Nov 2025verified |
| Current liabilities | 247.2 m | 192.7 m | 195.9 m | esef· 18 Nov 2025verified |
| Total liabilities | 410.6 m | 393.5 m | 410.8 m | esef· 18 Nov 2025verified |
| Equity | 325.6 m | 339.0 m | 378.7 m | esef· 18 Nov 2025verified |
| Shares outstanding at year end | 469.3 m | 463.0 m | 469.5 m | esef· 18 Nov 2025derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 64.2 m | 113.2 m | 125.9 m | esef· 18 Nov 2025verified |
| Capex | 31.0 m | 30.6 m | 46.6 m | esef· 18 Nov 2025verified |
| Free cash flow | 33.2 m ≈ | 82.6 m ≈ | 79.3 m ≈ | esef· 18 Nov 2025derived |
| Investing cash flow | -44.5 m | -47.5 m | -54.7 m | esef· 18 Nov 2025verified |
| Financing cash flow | -54.4 m | -59.9 m | -58.2 m | esef· 18 Nov 2025verified |
| Dividends paid | — | 0 | 7.0 m | esef· 18 Nov 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: 66 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 440.8 m GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
- Quality67
- Balance sheet33
- Valuation91
- Returns54
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 66/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 17.0% | 63 (vs peers) | 17% |
| Net margin · Quality | 5.6% | 40 (vs peers) | 10% |
| FCF conversion · Quality | 177.8% | 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 | 5.1x | 55 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 9.9x | 83 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 18.0% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 1.6% | 23 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 8.8% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet33/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality67/100 · 3/3 factors with a value
- Returns54/100 · 2/2 factors with a value
- Valuation91/100 · 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
THE RANK GROUP PLC (RNK.L). Latest full fiscal year: 2025; data up to 2025-06-30.
Figures computed from the financial statements: revenue 795.4 m GBP in 2025; YoY growth 8.3%; net margin 5.6%; ROE 12.4%.
The estimated value range is 1.65–2.31 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 1.95 GBP, the price of 0.94 GBP leaves a potential of 107.8% (value / price − 1) and a margin of safety of 51.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 66/100, 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: 177.8%
- P/E (TTM): 9.9x
- FCF yield: 18.0%
- Payout ratio (FCF): 8.8%
- The price is below the estimated value range
What contradicts it
- Current ratio: 0.5x
- Shareholder yield (distributions): 1.6%
- 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 |
| 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% |
| RNK.LThe Rank Group PLC | 440.8 m | 9.9 | 12.4% | 5.6% | +8.3% | −11% / +24% |
| 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 RNK.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 | 0.58 Total return -37% · Per year -37% | 1.02 Total return 10% · Per year 10% | 1.53 Total return 65% · Per year 65% |
| 3 years | 0.60 Total return -32% · Per year -12% | 1.19 Total return 32% · Per year 10% | 1.96 Total return 116% · Per year 29% |
| 5 years | 0.63 Total return -26% · Per year -6% | 1.40 Total return 59% · Per year 10% | 2.52 Total return 181% · Per year 23% |
- Exit P/E± 0.30
- Net margin± 0.21
- Annual revenue growth± 0.17
- Annual dilution± 0.02
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
The Rank Group is a British gambling operator whose revenues are growing at its Grosvenor casinos and Mecca bingo clubs, alongside a digital division and venues in Spain. Land-based gambling reforms in force since July 2025 1 could open a new growth cycle for the company.
SWOT
Strengths
- Grosvenor delivered solid revenue and profit growth, and the company's brands are well known in the industry.
- Investment in gaming machines and the table management system has produced measurable results across several venues.
- Customer and employee engagement scores have risen, supporting execution of the strategy.
Weaknesses
- Mecca remains dependent on bingo, a segment under structural pressure, and its profit fell in the latest year.
- The cost structure carries a large share of semi-fixed expenses, which makes profit sensitive to a drop in visits.
- Net debt remains significant, although it fell slightly in the year under review.
Opportunities
- Legislative reform could unlock pent-up demand for gaming machines and sports betting in casinos.
- Expanding digital brands and loyalty programmes could grow revenue across several channels.
- Growth in Spain, supported by refurbishments, could expand the potential of the Enracha division.
Threats
- Labour costs and sector levies could compress margins if revenue does not grow enough to offset them.
- Strict gambling regulation and delayed local authority approvals could postpone growth plans.
- Competition in online betting and casinos could pressure prices and market share.
Risks
- Delayed local approvalshigh
If local authorities do not approve licence variations on the expected timetable, Grosvenor's growth could be postponed.
- Labour costshigh
Statutory wage and social contribution increases could reduce profitability at venues with high fixed costs.
- Decline of land-based bingomedium
If the number of bingo customers keeps falling, Mecca's revenue could stay under pressure even after investment.
- Responsible gambling regulationmedium
New player protection requirements and research levies could raise operating costs.
- Digital competitionlow
If larger digital operators attract customers with more aggressive offers, the share of the company's digital brands could decline.
Investment thesis
What would need to be true (bull case)
- If the legislative reform translates into rapid installation of machines and sports betting, Grosvenor's growth could continue for several years.
- Improving profitability and lower net debt could allow dividend payments to resume, as the company did in 2024/25.
- Investment in technology and digital brands could let revenue grow across several channels at once.
What would break the thesis
- If local approvals are delayed, part of the anticipated Grosvenor growth might not materialise in the coming years.
- Labour costs are rising, and if revenue does not offset them, margins could fall even at growing venues.
- Mecca depends on a segment in structural decline, and its profit could stay weak without positive bingo reforms.
What to watch
- Pace of local authority approvals for extra gaming machines at GrosvenorQ1 2026
- Grosvenor results after sports betting is introduced in venues2026
- Mecca profit trend and the promised reforms for bingo2026
- Net debt level and capacity to sustain dividendsnext 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
Rank Group Plc operates in land-based and online gambling through the Grosvenor Casinos, Mecca, Enracha and its own digital brands 1. In fiscal 2024/25 Grosvenor was the largest division, with net gaming revenue (NGR) of £378.4m 1, and the group reported underlying earnings per share of 9.1p 1. The company focuses on renewing its venue estate and investing in gaming machines.
Segments
Grosvenor Venues
Grosvenor grew like-for-like NGR by 14% in fiscal 2024/25 1, with underlying LFL operating profit of £32.0m 1. Reforms in July 2025 increased machine allocations, and the current estate of 1,367 machines could rise by around 850 in 2025/26 1, subject to local authority approvals.
Market context
The British land-based gambling market has been reshaped by reforms in force since July 2025, which allowed more gaming machines and sports betting in casinos 1. Pressures in bingo remain high, and the company hopes for positive reforms in 2025/26 1. Results also depend on local authority approvals and the responsible gambling framework.
Trends
- Land-based gambling reformtailwind
Higher machine limits and sports betting in casinos could unlock pent-up demand at Grosvenor, if local approvals follow the company's timetable.
- Labour cost pressureheadwind
Increases in the National Living Wage and employer National Insurance contributions have raised costs, particularly at Mecca and Grosvenor, which have largely semi-fixed cost bases.
- Modernising machines and electronic bingotailwind
The shift from paper to electronic bingo and the replacement of older machines support customer participation, with positive effects on visits and stakes.
- Responsible gambling rules and leviesmixed
New player protection duties and the research and treatment levy add costs, but they could also strengthen customer trust and the sector's reputation.
Competitive position
The British gambling market is fragmented, with casino operators, bingo clubs and online platforms competing for the same customers. In digital, competition is intense and the company's edge depends on its brands and proprietary technology. Competitive pressure could rise if other operators expand their machine estates faster than Grosvenor.
- Flutter EntertainmentFLUT
Global sports betting and online gaming operator with a strong digital presence that competes with the company's online division.
- Entain
British betting and gambling operator active in land-based and online channels, competing in the UK market.
- Genting UK
UK casino operator that competes directly with Grosvenor for casino customers.
- Gala Bingo
UK bingo club operator that competes with Mecca in the land-based bingo segment.
News & filings
In the press
- Where U.S. states rank on new housing supply pipelinePhys.org · 05 Nov 2026 · EN
- New VOLTA Infostealer Uses Claude, Gemini, and Kimi AI to Rank Victims by Financial ValueThe Hacker News · 02 Nov 2026 · EN
- Malware uses LLMs to rank victims by how much they're worthHacker News · 31 Oct 2026 · EN
- Venezuela expects to rank fourth globally in natural gas reservesTASS (RU, EN) · 28 Oct 2026 · EN
- WordPress SEO plugin Rank Math compromised to backdoor websitesBleepingComputer · 19 Oct 2026 · EN
- Popular WordPress SEO Plugin Rank Math PRO Hijacked to Deliver Self-Restoring BackdoorThe Hacker News · 19 Oct 2026 · EN
- Rank Math PRO WordPress Plugin Compromised in Supply Chain AttackSecurityWeek · 19 Oct 2026 · EN
- Lada Iskra to rank among Russia's top 10 best-selling cars in 2026 — AvtoVAZ CEOTASS (RU, EN) · 12 Oct 2026 · EN
- AI-enabled attacks rank as top cyber riskBangkok Post · 05 Oct 2026 · EN
- Airtel Money Plans UK IPO That May Rank as Biggest in Five YearsBloomberg Markets · 01 Oct 2026 · EN
- These were the hottest baby names in your state 50 years ago. Here’s where they rank nowThe Hill · 26 Sept 2026 · EN
- Hyundai Motor poised to rank No. 3 in US quarterly sales, closing in on FordKorea Times — Business · 25 Sept 2026 · EN
- India's rank on Global Gender Gap Index unchanged at 131; Iceland retains top spotThe Hindu — International · 16 Sept 2026 · EN
- Japanese 15-year-olds rank top in core subjects among OECD countries for the first timeThe Japan Times · 09 Sept 2026 · EN
- Where do PSG rank among Europe's greatest dynasties?BBC — Europe · 09 Sept 2026 · EN
- Anthropic May Require Rank-and-File Employees to Sell Shares on Preset SchedulesYahoo Finance — News · 07 Sept 2026 · EN
- An elliptic curve of rank ≥ 30Hacker News · 20 Aug 2026 · EN
- New Dolphin X malware uses AI to rank high-value targetsBleepingComputer · 23 Jul 2026 · RO
- Russia sets fuel delivery priority order — gas stations rank lastMeduza English (independent RU/exile) · 22 Jul 2026 · EN
- Yen carry trade weathers storms as investors still rank currency highlyNikkei Asia · 21 Jul 2026 · RO
Annual reports (ESEF)
- Annual report 202518 Nov 2025
- Annual report 202518 Nov 2025
- Annual report 202405 Nov 2024
Sources
- [1] Annual report, fiscal year ended 2025-06-30 (ESEF) · SEC / The Rank Group Plc · 30 Jun 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.