BT Group plc (GB:BT.A)
LSE:BT.A
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BT Group plc
(LSE:BT.A)
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Rating:69Neutral
Price Target:
237.00 p
▲(8.94% Upside)
Action:ReiteratedDate:12/07/25
BT Group's overall stock score is driven by solid financial performance and positive corporate events, which are offset by technical analysis indicating weak momentum. The earnings call provided positive guidance, supporting the company's strategic initiatives. Valuation metrics suggest fair pricing with an attractive dividend yield.
Positive Factors
Cash generation & Free Cash Flow
Consistent strong operating cash flow and improved free cash flow provide durable funding for fiber and 5G capital expenditure, support dividends and deleveraging, and reduce reliance on external financing. This enhances long-term strategic optionality and financial resilience.
Negative Factors
Declining revenue trend
Persistent revenue decline signals structural demand challenges and market saturation in legacy products. Even with margin gains, slower top-line growth constrains absolute EBITDA expansion, limits reinvestment capacity, and raises dependency on cost cuts to hit targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & Free Cash Flow
Consistent strong operating cash flow and improved free cash flow provide durable funding for fiber and 5G capital expenditure, support dividends and deleveraging, and reduce reliance on external financing. This enhances long-term strategic optionality and financial resilience.
Read all positive factors
BT Group plc (BT.A) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£23.01B
Dividend Yield4.42%
Average Volume (3M)19.22M
Price to Earnings (P/E)24.2
Beta (1Y)0.59
Revenue Growth-2.53%
EPS Growth24.52%
CountryUK
Employees91,700
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.12
Shares Outstanding9,967,640,000
10 Day Avg. Volume15,844,759
30 Day Avg. Volume19,219,665
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)0.87
Price to Sales (P/S)0.52
P/FCF Ratio11.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£247.33Price Target Upside13.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.17
Revenue Forecast (FY)£19.34B
BT Group plc Business Overview & Revenue Model
Company Description
BT Group plc provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Consumer, Enterprise, Global, and Openreach segments. The Consumer segment o...
How the Company Makes Money
BT Group makes money primarily by selling connectivity and communications services under recurring subscription and usage-based pricing, plus wholesale access charges and equipment/service fees. Key revenue streams typically include: (1) Consumer ...
BT Group plc Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 21, 2026
Earnings Call Sentiment Neutral
BT Group demonstrated strong strategic progress with record achievements in fiber and 5G coverage, alongside significant cost savings and customer base growth. However, challenges remain in legacy revenue declines, consumer ARPU pressure, and international segment restructuring, balanced by strategic initiatives and restructuring efforts.Positive Updates
Record Fiber Build and Take-up
Openreach hit a new record of 2.2 million homes passed with full fiber, and connected a record 1.1 million Openreach customers to full fiber. The market-leading take-up rate is now at 38%.
Negative Updates
Legacy Voice Revenue Decline
Reduction in legacy voice revenues by about GBP 100 million, impacting overall revenue.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Fiber Build and Take-up
Openreach hit a new record of 2.2 million homes passed with full fiber, and connected a record 1.1 million Openreach customers to full fiber. The market-leading take-up rate is now at 38%.
Read all positive updates
Company Guidance
In the recent call, BT Group provided comprehensive guidance for the upcoming years, reaffirming their financial targets. For fiscal year 2026, BT anticipates reaching around GBP 20 billion in revenue, with U.K. service revenue between GBP 15.3 billion and GBP 15.6 billion. The company expects adjusted EBITDA to range from GBP 8.2 billion to GBP 8.3 billion and plans to invest GBP 5 billion in CapEx. Additionally, BT aims for a normalized free cash flow of approximately GBP 1.5 billion. Looking further ahead, BT is targeting GBP 2 billion in normalized free cash flow for the next year and GBP 3 billion by fiscal year 2030. The interim dividend is set to rise by 2%, reflecting confidence in sustained growth and financial stability. The company remains committed to its strategic objectives, including expanding its fiber network and enhancing customer experiences, while maintaining a focus on cost transformation to support EBITDA growth.BT Group plc Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.36B | 20.36B | 20.68B | 20.85B | 21.33B | 22.91B |
| Gross Profit | 9.54B | 14.99B | 15.17B | 13.78B | 13.80B | 15.72B |
| EBITDA | 7.36B | 7.27B | 7.47B | 7.23B | 6.88B | 7.55B |
| Net Income | 1.05B | 1.05B | 1.91B | 1.27B | 1.47B | 1.73B |
Balance Sheet | ||||||
| Total Assets | 50.98B | 50.98B | 52.75B | 49.77B | 50.88B | 53.07B |
| Cash, Cash Equivalents and Short-Term Investments | 2.81B | 2.81B | 3.94B | 3.46B | 4.65B | 6.60B |
| Total Debt | 23.33B | 23.33B | 23.88B | 21.95B | 22.84B | 25.89B |
| Total Liabilities | 38.07B | 38.07B | 38.24B | 34.48B | 39.20B | 38.30B |
| Stockholders Equity | 12.91B | 12.91B | 14.51B | 15.30B | 11.68B | 14.76B |
Cash Flow | ||||||
| Free Cash Flow | 2.05B | 2.05B | 1.42B | 1.30B | 1.06B | 2.17B |
| Operating Cash Flow | 6.99B | 6.99B | 6.72B | 5.91B | 5.96B | 6.27B |
| Investing Cash Flow | -5.01B | -5.01B | -6.40B | -3.56B | -3.24B | -5.65B |
| Financing Cash Flow | -2.11B | -2.11B | -636.00M | -2.56B | -3.22B | -807.00M |
BT Group plc Technical Analysis
Positive
217.55
Price Trends
210.12
Positive
196.09
Positive
194.25
Positive
Market Momentum
2.99
Negative
56.66
Neutral
80.07
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BT.A, the sentiment is Positive. The current price of 217.55 is above the 20-day moving average (MA) of 212.67, above the 50-day MA of 210.12, and above the 200-day MA of 194.25, indicating a bullish trend. The MACD of 2.99 indicates Negative momentum. The RSI at 56.66 is Neutral, neither overbought nor oversold. The STOCH value of 80.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BT.A.
BT Group plc Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £23.01B | 24.23 | 2.32% | 4.42% | -2.53% | 24.52% | |
67 Neutral | £836.52M | 6.53 | 13.14% | 2.23% | 11.46% | -3.50% | |
67 Neutral | £13.38B | 24.62 | 20.03% | 1.50% | 23.19% | 196.37% | |
63 Neutral | £27.33B | 7.41 | -8.37% | 3.74% | 16.13% | -279.78% | |
62 Neutral | £2.45B | ― | 115.68% | ― | 4.56% | 17.21% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | £4.23B | -94.82 | -35.13% | ― | ― | ― |
* Communication Services Sector Average
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BT Group plc Corporate Events
Regulatory Filings and Compliance
BT Group Updates Total Voting Rights for April 2026
Neutral
Apr 30, 2026
BT Group plc reported that as of 30 April 2026 its issued share capital comprised 9,968,127,681 ordinary shares, of which 487,815 were held in treasury, leaving 9,967,639,866 ordinary shares carrying voting rights. The disclosed total voting right...
Business Operations and StrategyExecutive/Board Changes
BT Group Chair Adam Crozier to Become Experian’s Next Chairman While Retaining BT Role
Positive
Apr 21, 2026
BT Group said its chairman, Adam Crozier, has been appointed to the board of Experian as an independent non-executive director and chair designate from 12 May 2026, and will assume the role of chair following Experian’s annual general meetin...
Regulatory Filings and Compliance
BT Group Updates Total Voting Rights for March 2026
Neutral
Mar 31, 2026
BT Group plc reported that as of 31 March 2026 its issued share capital comprised 9,968,127,681 ordinary shares, of which 487,815 were held in treasury, leaving 9,967,639,866 shares carrying voting rights. The updated voting rights figure provides...
Regulatory Filings and Compliance
BT Group Director Ruth Cairnie Buys Shares in Board-Dealing Disclosure
Positive
Mar 30, 2026
BT Group plc disclosed a director dealing transaction involving independent non-executive director Ruth Cairnie, in line with market abuse regulation reporting requirements. The filing states that Cairnie purchased 5,000 ordinary BT Group shares a...
Regulatory Filings and Compliance
BT Group Updates Total Voting Rights for Shareholders
Neutral
Feb 27, 2026
BT Group has reported that as of 27 February 2026 its issued share capital comprised 9,968,127,681 ordinary shares, of which 487,815 are held in treasury and do not carry voting rights. This leaves a total of 9,967,639,866 voting rights in the com...
Regulatory Filings and Compliance
BT Group Executives Reinvest Dividends Into Company Shares
Neutral
Feb 13, 2026
BT Group has disclosed a series of share transactions by senior executives, including CEO International Bas Burger, Group General Counsel and Company Secretary Sabine Chalmers, Chief Security and Networks Officer Greg McCall and Chief People Cult...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
BT Group reports director share purchase and lapse of executive award
Neutral
Feb 11, 2026
BT Group has disclosed director dealings showing that independent non-executive director Sara Weller purchased 5,932 ordinary BT shares at £2.01 each on 10 February 2026 in London. The transaction modestly increases insider ownership and may ...
Business Operations and StrategyExecutive/Board Changes
BT Group Reshapes Leadership at Openreach and International Units
Positive
Feb 10, 2026
BT Group has announced a leadership reshuffle across its Openreach and International units, with current Openreach Deputy CEO Katie Milligan set to become CEO of Openreach on 1 April 2026 and current Openreach chief Clive Selley moving to lead BT ...
Business Operations and StrategyFinancial Disclosures
BT Group Posts Record Full Fibre Take-Up as Revenue Softens but Guidance Holds
Neutral
Feb 5, 2026
BT Group reported continued progress on its UK network and customer strategy, with its full fibre footprint extended to 21.4 million premises, including 5.9 million in rural areas, and record FTTP connections pushing Openreach’s take-up rate...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.