Education
About Us
Working with TipRanks
Follow Us
Global Blue Group Holding (GB)
NYSE:GB
RESEARCH TOOLSreports
Top Page
Global Blue Group Holding
(NYSE:GB)
75Outperform
Global Blue Group Holding (GB) vs. S&P 500 (SPY)
Market Cap
$1.49B
Dividend YieldN/A
Average Volume (3M)251.47K
Price to Earnings (P/E)21.8
Beta (1Y)0.25
Revenue Growth20.47%
EPS Growth185.00%
CountryUS
Employees1,939
SectorTechnology
Sector Strength65
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.15
Shares Outstanding199,871,320
10 Day Avg. Volume107,905
30 Day Avg. Volume251,468
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.00Price Target Upside-19.25% Downside
Rating ConsensusHold
Number of Analyst Covering1
Global Blue Group Holding Business Overview & Revenue Model
Company DescriptionGlobal Blue Group Holding AG, together with its subsidiaries, provides technology-enabled transaction processing services for merchants, banks, acquirers, governments, and travelers in Europe, the Asia Pacific, and internationally. The company operates in three segments: Tax Free Shopping Technology Solutions (TFSS), Added-Value Payment Solutions (AVPS), and Complementary Retail Tech Solutions (CRTS). It offers TFSS, a value added tax (VAT) refund service that allows eligible shoppers to reclaim VAT on goods purchased outside of their home country; and intelligence and marketing services. The company also provides AVPS, a service which enables customers to pay in their choice of preferred currency, home or destination, at the point of sale (POS) when shopping outside of their home country under the Dynamic Currency Choice and Currency Select brands. In addition, it offers currency conversion services for POS, e-commerce return solutions, dynamic currency conversion (DCC) services, and DCC services at ATMs, as well as multi-currency processing services for online retailers. Further, the company provides ZigZag, a technology platform that fully digitalizes the eCommerce returns experience and enhances the process for both retailers and consumers; and Yocuda that enables retailers to send digital receipts to their customers. Global Blue Group Holding AG was founded in 1980 and is headquartered in Wangen-Brüttisellen, Switzerland.
How the Company Makes MoneyGlobal Blue Group Holding makes money predominantly through its VAT refund services, where it earns a commission from either the retailer or the traveler for processing tax refunds on purchases made by international tourists. The company also generates revenue through dynamic currency conversion services, which allow travelers to pay in their home currency at the point of sale, with Global Blue earning a margin on the exchange rate applied. Additionally, the company leverages its payment solutions and technology services to receive fees from retail partners and financial institutions. Key partnerships with retailers, airports, and financial service providers are critical to maximizing its market reach and efficiency in processing transactions.
Global Blue Group Holding Financial Statement Overview
Summary
Global Blue Group Holding shows impressive revenue growth and profitability improvements, with strong gross and net profit margins. However, the balance sheet indicates high leverage, which poses potential risks. The cash flow position is robust, with significant growth in free cash flow and strong cash conversion ratios. Overall, the company is on a positive trajectory with improved financial performance, but the high debt levels need careful management.Income Statement
The company demonstrated strong revenue growth, with TTM revenue increasing by 15.2% compared to the previous year. The gross profit margin is robust at 73.3%, indicating effective cost management. The net profit margin improved significantly to 13.1% TTM from 3.3% in the previous period, reflecting enhanced profitability. Additionally, the EBIT and EBITDA margins are healthy at 23.7% and 47.2%, respectively, showcasing operational efficiency.―
Balance Sheet
The debt-to-equity ratio is high at 4.17, indicating significant leverage, although it has improved from prior periods. The equity ratio is relatively low at 11.0%, suggesting limited equity financing. However, the return on equity has improved dramatically to 49.8%, reflecting better utilization of equity despite the high leverage.60
Cash Flow
The company has experienced a strong free cash flow growth of 29.4% TTM, indicating improved cash generation. The operating cash flow to net income ratio is solid at 2.40, reflecting good cash conversion. The free cash flow to net income ratio is also strong at 1.64, showing that the company is generating ample free cash flow relative to its net income.―
| Breakdown | ||||
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 422.30M | 311.49M | 125.95M | 44.70M | 420.40M | Gross Profit |
| 310.51M | 219.04M | 90.02M | 30.13M | 323.12M | EBIT |
| 97.88M | 14.14M | -102.81M | -430.54M | 41.20M | EBITDA |
| 145.16M | 60.06M | -16.60M | -55.77M | 149.96M | Net Income Common Stockholders |
| 13.97M | -23.50M | -94.69M | -423.53M | 1.67M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 87.46M | 240.55M | 51.69M | 182.78M | 226.14M | Total Assets |
| 1.09B | 1.16B | 853.43M | 961.15M | 1.12B | Total Debt |
| 612.44M | 788.84M | 733.77M | 733.43M | 644.57M | Net Debt |
| 524.98M | 548.29M | 682.08M | 550.65M | 418.43M | Total Liabilities |
| 1.02B | 1.15B | 1.04B | 1.03B | 1.05B | Stockholders Equity |
| 61.92M | 373.00K | -191.53M | -76.39M | 63.12M |
| Cash Flow | Free Cash Flow | |||
| 80.64M | -34.96M | -108.10M | -124.37M | 151.53M | Operating Cash Flow |
| 120.07M | -1.08M | -87.00M | -103.15M | 189.26M | Investing Cash Flow |
| -39.63M | -70.65M | -31.04M | -72.60M | -42.72M | Financing Cash Flow |
| -233.80M | 258.19M | -14.37M | 134.11M | -22.21M |
Global Blue Group Holding Technical Analysis
Positive
7.43
Price Trends
7.37
Positive
7.17
Positive
6.23
Positive
Market Momentum
0.03
Positive
56.59
Neutral
61.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB, the sentiment is Positive. The current price of 7.43 is above the 20-day moving average (MA) of 7.42, above the 50-day MA of 7.37, and above the 200-day MA of 6.23, indicating a bullish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 56.59 is Neutral, neither overbought nor oversold. The STOCH value of 61.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB.
Global Blue Group Holding Risk Analysis
Global Blue Group Holding disclosed 73 risk factors in its most recent earnings report. Global Blue Group Holding reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Global Blue Group Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $3.20B | 7.82 | 15.39% | ― | 8.26% | 20.41% | |
75 Outperform | $1.49B | 21.75 | 67.32% | ― | 20.47% | 185.00% | |
69 Neutral | $2.61B | 22.10 | 15.97% | ― | 14.86% | -0.94% | |
66 Neutral | $1.48B | 268.97 | 0.51% | 2.62% | 29.84% | ― | |
65 Neutral | $1.68B | 210.26 | 0.27% | ― | 10.46% | ― | |
63 Neutral | $3.61B | 8.73 | -9.48% | ― | -8.52% | -180.71% | |
60 Neutral | $10.77B | 10.41 | -6.71% | 2.99% | 7.69% | -13.12% |
* Technology Sector Average
Performance Comparison
GB
Global Blue Group Holding
7.43
2.45
49.20%
PAGS
Pagseguro Digital
9.97
-2.70
-21.31%
STNE
Stoneco
13.81
-2.89
-17.31%
PAYO
Payoneer
6.33
0.46
7.84%
TUYA
Tuya
2.41
0.68
39.31%
AVDX
AvidXchange Holdings
9.72
-1.75
-15.26%
Global Blue Group Holding Earnings Call Summary
Earnings Call Date:Feb 26, 2025
(Q3-2025)
| % Change Since: 1.50%|
Next Earnings Date:Jun 25, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue and EBITDA growth across all divisions, significant improvements in financial health indicators, and confidence in achieving the higher end of the annual financial guidance. However, these positives were somewhat offset by the loss of a significant client in Japan, increased finance costs, and lower contribution growth in the Payments segment.Q3-2025 Updates
Positive Updates
Acquisition by Shift4
Global Blue was acquired by Shift4 for $7.50 per common share, a 15% premium over the closing share price, valuing the company at an enterprise value of $2.5 billion.
Strong Revenue Growth
The Group delivered revenue of 131 million Euros in Q3, a 20% year-on-year increase, with significant progress across all divisions.
Impressive EBITDA Increase
Adjusted EBITDA increased by 31% year-on-year to 52 million Euros, resulting in an improvement in adjusted EBITDA margin of 3.4 points to 39.7%.
Tax Free Shopping Solutions Growth
Tax Free Shopping Solutions accounted for 74% of Group revenue, with a revenue growth of 22% to 98 million Euros and completed Sales-in-Stores growth of 21%.
Improvement in Net Income
Group adjusted net income increased by 58% to 14 million Euros compared to 9 million Euros last year.
Reduction in Net Leverage Ratio
Net leverage ratio improved to 2.6 times from 3.6 times last year, showing a significant improvement in financial health.
Negative Updates
Loss of Significant Client in Japan
FX Solutions lost a significant client in Japan earlier in the year, negatively impacting revenue growth comparison versus last year.
Increased Net Finance Costs
Net finance costs increased by 7 million Euros due to higher interest rates on senior debt.
Lower Contribution Growth in Payments
Despite revenue growth, contribution growth in the Payments segment was lower due to the mix effect, with acquiring business growing faster than FX Solutions but with lower margins.
Company Guidance
During the call, Global Blue provided guidance for the fiscal year 2024-2025, reiterating their expectation to achieve an adjusted EBITDA in the range of €185 million to €205 million. The company anticipates reaching the upper half of this range, based on the improvement observed in the last 12 months' adjusted EBITDA over the recent three quarters. Jacques Stern, CEO, emphasized the company's strong performance over the nine-month period, highlighting significant growth in revenue, EBITDA, margins, and drop-through rates. The guidance comes amid the recent announcement of Global Blue’s acquisition by Shift4, expected to close in Q3 2025, pending regulatory and shareholder approvals.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.