CVS Group PLC (GB:CVSG)
LSE:CVSG
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CVS Group plc
(LSE:CVSG)
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Rating:60Neutral
Price Target:
1,210.00 p
â–¼(-5.17% Downside)
Action:ReiteratedDate:03/28/26
The score is primarily supported by solid financial performance, led by strong free cash flow growth and improved leverage. This is meaningfully offset by weak technicals (broad downtrend despite oversold readings) and a relatively high P/E with a low dividend yield.
Positive Factors
Free Cash Flow Growth
A 90.1% increase in free cash flow demonstrates materially improved cash generation and conversion. Strong FCF supports reinvestment, debt reduction, and funding for clinic expansion or M&A without relying heavily on external financing, improving long-term financial flexibility.
Negative Factors
Gross Margin Compression
A nearly 4.4 percentage point decline in gross margin signals rising input costs or pricing pressure in core services and product sales. If sustained, margin erosion will reduce operating cash flow, limit reinvestment capacity, and compress the economic returns of clinic expansions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Growth
A 90.1% increase in free cash flow demonstrates materially improved cash generation and conversion. Strong FCF supports reinvestment, debt reduction, and funding for clinic expansion or M&A without relying heavily on external financing, improving long-term financial flexibility.
Read all positive factors
CVS Group plc (CVSG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£794.17M
Dividend Yield0.67%
Average Volume (3M)369.58K
Price to Earnings (P/E)29.5
Beta (1Y)1.13
Revenue Growth4.00%
EPS Growth-6.98%
CountryUK
Employees9,000
SectorHealthcare
Sector Strength45
IndustryPersonal Products & Services
Share Statistics
EPS (TTM)0.40
Shares Outstanding70,156,600
10 Day Avg. Volume402,791
30 Day Avg. Volume369,577
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)2.99
Price to Sales (P/S)1.33
P/FCF Ratio16.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,620.00Price Target Upside26.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.87
Revenue Forecast (FY)£712.01M
CVS Group plc Business Overview & Revenue Model
Company Description
CVS Group plc engages in veterinary, pet crematoria, online pharmacy, and retail businesses. The company operates through four segments: Veterinary Practices, Laboratories, Crematoria, and Online Retail. It operates animal veterinary practices and...
How the Company Makes Money
CVS Group makes money primarily by delivering paid animal healthcare and related services across its operating businesses. The largest revenue stream comes from fees charged by its veterinary practices for consultations, procedures and surgeries, ...
CVS Group plc Earnings Call Summary
Earnings Call Date:Oct 07, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 24, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance and successful expansions, particularly in Australia, bolstering confidence in future growth. However, challenges such as softer UK market conditions, a past cyber incident, and ongoing CMA investigation delays posed concerns.Positive Updates
Revenue and EBITDA Growth
Revenue increased by 5.4% to GBP 673.2 million, with adjusted EBITDA rising by 9.4% to GBP 134.6 million, demonstrating strong financial performance.
Negative Updates
Soft Market Conditions in the UK
Faced challenges with softer market conditions in the UK during the first half of the year, affecting overall performance.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue and EBITDA Growth
Revenue increased by 5.4% to GBP 673.2 million, with adjusted EBITDA rising by 9.4% to GBP 134.6 million, demonstrating strong financial performance.
Read all positive updates
Company Guidance
During the call, CVS Group provided a comprehensive overview of its financial performance for the fiscal year ending 2025, highlighting several key metrics. The company reported a revenue increase of 5.4% to GBP 673.2 million, with like-for-like growth of 0.2% across the group and 1% in the core practice division. Adjusted EBITDA rose by 9.4% to GBP 134.6 million, while the adjusted EBITDA margin improved by 70 basis points to 20%. The group also achieved an adjusted operating cash conversion rate of 76.9%, surpassing their target of approximately 70%. The company's leverage at year-end was 1.18x, aided by proceeds from the sale of their Crematoria business. CVS Group expanded its footprint in Australia by completing seven practice acquisitions, increasing its total sites to 51, and continued its acquisition strategy into the new fiscal year with two additional acquisitions. The management expressed confidence in the company's future growth prospects, buoyed by strong market fundamentals and a strategic focus on high-quality acquisitions.CVS Group plc Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 688.30M | 673.20M | 647.30M | 588.90M | 554.20M | 510.10M |
| Gross Profit | 268.60M | 259.70M | 277.90M | 262.30M | 239.10M | 221.90M |
| EBITDA | 123.30M | 114.30M | 108.40M | 118.80M | 90.40M | 88.20M |
| Net Income | 15.90M | 19.30M | 6.20M | 41.90M | 25.70M | 19.30M |
Balance Sheet | ||||||
| Total Assets | 716.90M | 696.20M | 690.00M | 572.30M | 518.20M | 484.50M |
| Cash, Cash Equivalents and Short-Term Investments | 12.30M | 16.10M | 16.50M | 21.50M | 49.00M | 33.70M |
| Total Debt | 358.60M | 248.80M | 287.80M | 199.10M | 188.80M | 182.70M |
| Total Liabilities | 417.00M | 394.50M | 429.50M | 315.30M | 300.80M | 293.40M |
| Stockholders Equity | 295.10M | 299.80M | 260.40M | 257.00M | 217.40M | 191.10M |
Cash Flow | ||||||
| Free Cash Flow | 57.20M | 55.70M | 24.70M | 38.80M | 51.00M | 43.60M |
| Operating Cash Flow | 82.30M | 82.10M | 67.80M | 84.50M | 75.50M | 60.20M |
| Investing Cash Flow | -22.90M | -22.70M | -140.50M | -99.90M | -45.10M | -35.40M |
| Financing Cash Flow | -57.80M | -59.20M | 68.30M | -12.10M | -15.10M | -12.60M |
CVS Group plc Technical Analysis
Negative
1276.00
Price Trends
1306.68
Negative
1271.97
Negative
1260.68
Negative
Market Momentum
-50.48
Positive
22.88
Positive
20.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CVSG, the sentiment is Negative. The current price of 1276 is above the 20-day moving average (MA) of 1225.80, below the 50-day MA of 1306.68, and above the 200-day MA of 1260.68, indicating a bearish trend. The MACD of -50.48 indicates Positive momentum. The RSI at 22.88 is Positive, neither overbought nor oversold. The STOCH value of 20.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:CVSG.
CVS Group plc Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £66.40M | -44.80 | 3.55% | ― | 1.44% | 359.79% | |
74 Outperform | £177.35M | 12.60 | 23.64% | 3.48% | 10.80% | 1.75% | |
69 Neutral | £1.61B | 14.39 | 9.70% | 1.25% | 0.60% | 143.39% | |
67 Neutral | £158.81M | 15.48 | 2.63% | 2.18% | 8.74% | -166.50% | |
66 Neutral | £101.74M | 166.23 | 3.01% | ― | -1.43% | 28.57% | |
60 Neutral | £794.17M | 29.48 | 5.35% | 0.67% | 4.00% | -6.98% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GB:CVSG
CVS Group plc
1,132.00
126.99
12.64%
GB:ANCR
Animalcare
230.00
13.47
6.22%
GB:EAH
Eco Animal Health
98.00
40.00
68.97%
GB:EKF
EKF Diagnostics Holdings
23.60
2.50
11.85%
GB:GNS
Genus plc
2,430.00
570.19
30.66%
GB:TSTL
Tristel
370.00
82.36
28.63%
CVS Group plc Corporate Events
Business Operations and StrategyExecutive/Board Changes
CVS Group refreshes board with new non-executive appointments and committee changes
Positive
Mar 25, 2026
CVS Group plc, the UK-listed veterinary services provider with extensive operations across the UK and Australia, has expanded its governance bench with two new independent non-executive appointments. The company, which runs over 475 practices alon...
Business Operations and StrategyRegulatory Filings and Compliance
CVS Group says CMA veterinary ruling manageable and trading on track
Neutral
Mar 24, 2026
CVS Group plc, the UK- and Australia-based veterinary services provider, has responded to the Competition and Markets Authority’s final decision in its investigation into the veterinary services market. The company highlighted its scale, wit...
Business Operations and StrategyRegulatory Filings and Compliance
CVS Group Updates Share Capital After Employee Option Exercises
Neutral
Feb 27, 2026
CVS Group plc, a leading UK- and Australia-based veterinary services provider listed on the Main Market of the London Stock Exchange, offers clinical care through hundreds of practices, specialist hospitals and out-of-hours centres, supported by l...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
CVS Group lifts revenue and expands in Australia as it joins LSE Main Market
Positive
Feb 26, 2026
CVS Group reported a 5.8% rise in revenue from continuing operations to £356.9m and a 3.9% increase in adjusted EBITDA to £67.7m for the six months to 31 December 2025, despite softer UK market conditions. Profit before tax fell 4.4% to ...
Regulatory Filings and Compliance
CVS Group Confirms Total Voting Rights at Just Over 70 Million Shares
Neutral
Jan 30, 2026
CVS Group plc has confirmed that its total issued share capital stands at 70,156,093 ordinary shares, each carrying one voting right, with no shares held in treasury. This establishes the company’s total voting rights at 70,156,093, a figure...
Business Operations and StrategyDelistings and Listing Changes
CVS Group Shifts from AIM to London Stock Exchange Main Market
Positive
Jan 29, 2026
CVS Group plc has completed its move from AIM to the Main Market of the London Stock Exchange, with its ordinary shares admitted today to the FCA’s Official List and trading on the Main Market under the existing ticker CVSG. No new shares or...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
CVS Group Backs DEFRA Consultation on Overhaul of Veterinary Surgeons Act
Positive
Jan 28, 2026
CVS Group has welcomed the UK Government’s decision to launch an eight-week consultation on reforms to the Veterinary Surgeons Act 1966, a move that stems from recommendations made by the Competition and Markets Authority following its marke...
Business Operations and StrategyStock BuybackDelistings and Listing ChangesFinancial DisclosuresLegal ProceedingsRegulatory Filings and Compliance
CVS Group to Join LSE Main Market as Revenue and Overseas Expansion Grow
Positive
Jan 23, 2026
CVS Group plc has published a prospectus ahead of moving its existing ordinary shares from AIM to the Main Market of the London Stock Exchange on 29 January 2026, without raising new capital, a step that is expected to enhance its market profile w...
Stock Buyback
CVS Group Completes £20m Share Buyback and Cancels Repurchased Stock
Positive
Jan 23, 2026
CVS Group plc has completed its previously announced share buyback programme of up to £20 million, purchasing a final tranche of 51,698 ordinary shares on 22 January 2026 at prices between 1,330p and 1,348p per share. All shares repurchased u...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cuts Share Count to Just Over 70 Million
Positive
Jan 22, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 52,278 ordinary shares on 21 January 2026 at prices between 1,304p and 1,340p, with a volume-weighted average price of 1,319.53p per share. The c...
Stock BuybackRegulatory Filings and Compliance
CVS Group Cancels Further Shares After Latest Buyback Tranche
Positive
Jan 21, 2026
CVS Group plc has repurchased 50,918 of its ordinary shares on 20 January 2026 under its ongoing share buyback programme, paying between 1,340p and 1,364p per share at a volume-weighted average price of 1,354.88p. The company intends to cancel all...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Cancels Further Shares as Buyback Programme Progresses
Positive
Jan 20, 2026
CVS Group plc has continued its previously announced share buyback programme with the purchase of 50,329 ordinary shares on 19 January 2026 from Berenberg at prices between 1,366p and 1,376p, at a volume-weighted average price of 1,370.91p per sha...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Cancels Further Shares as Buyback Programme Passes 1.3m Mark
Positive
Jan 19, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 50,275 ordinary shares on 16 January 2026 at prices between 1,360p and 1,376p per share, with a volume-weighted average price of 1,372.35p. The c...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cancels Further 50,656 Shares
Positive
Jan 16, 2026
CVS Group plc has continued its previously announced share buyback programme with the repurchase of 50,656 ordinary shares on 15 January 2026 at prices between 1,350p and 1,374p, for a volume-weighted average price of 1,362.05p per share. All of t...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cancels Further 50,656 Shares
Positive
Jan 16, 2026
CVS Group plc has continued its previously announced share buyback programme with the repurchase of 50,656 ordinary shares on 15 January 2026 at prices between 1,350p and 1,374p, for a volume-weighted average price of 1,362.05p per share. All of t...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cancels Further 29,492 Shares
Positive
Jan 15, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 29,492 ordinary shares on 14 January 2026 at prices between 1,336p and 1,352p per share, with a volume-weighted average price of 1,348.42p. All o...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cancels Further 29,885 Shares
Positive
Jan 14, 2026
CVS Group plc has continued execution of its previously announced share buyback programme, repurchasing 29,885 ordinary shares on 13 January 2026 at prices between 1,334p and 1,362p per share, with a volume-weighted average price of 1,354.33p. All...
Stock Buyback
CVS Group Continues Share Buyback, Cancels Newly Repurchased Shares
Positive
Jan 13, 2026
CVS Group plc has continued its previously announced share buyback programme with the repurchase on 12 January 2026 of 29,888 ordinary shares at prices between 1,342p and 1,360p, at a volume-weighted average price of 1,352.20p per share, from Joh....
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares Under Ongoing Buyback Programme
Positive
Jan 12, 2026
CVS Group plc, a leading veterinary services provider listed on AIM with extensive UK and Australian operations, has continued to expand its footprint across clinical practices, laboratories and online retail while focusing on high-quality animal ...
Stock BuybackRegulatory Filings and Compliance
CVS Group Continues Share Buyback, Cancels Additional 30,898 Shares
Positive
Jan 9, 2026
CVS Group plc has continued to execute its previously announced share buyback programme, repurchasing 30,898 ordinary shares on 8 January 2026 at prices between 1,298p and 1,326p per share, with a volume-weighted average price of 1,310.61p. The co...
Stock Buyback
CVS Group Continues Share Buyback, Cancels Additional 31,334 Shares
Positive
Jan 8, 2026
CVS Group plc has continued its share buyback programme with the repurchase of 31,334 ordinary shares on 7 January 2026 from Berenberg at prices ranging between 1,282p and 1,334p per share, at a volume-weighted average price of 1,292.16p. The comp...
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares as Buyback Programme Passes 1.1m Threshold
Positive
Jan 7, 2026
CVS Group plc has repurchased 31,375 of its ordinary shares on 6 January 2026 under its ongoing share buyback programme, paying between 1,272p and 1,302p per share at a volume-weighted average price of 1,290.66p. The company intends to cancel thes...
Other
CVS Group Non-Executive Director Richard Gray Increases Shareholding
Positive
Jan 6, 2026
CVS Group plc reported that non-executive director Richard Gray has increased his personal stake in the company by purchasing 2,000 ordinary shares on 5 January 2026 via an on-market transaction on AIM. Following this purchase, Gray’s total ...
Stock BuybackRegulatory Filings and Compliance
CVS Group Continues Buyback with Cancellation of Further 16,337 Shares
Positive
Jan 6, 2026
CVS Group plc has repurchased 16,337 of its own ordinary shares on 5 January 2026 as part of the share buyback programme launched in October 2025, at prices between 1,262p and 1,282p per share and a volume-weighted average of 1,273.40p. The compan...
Business Operations and StrategyStock BuybackFinancial Disclosures
CVS Group Cancels Further Shares as Buyback Programme Passes 1 Million Mark
Positive
Jan 5, 2026
CVS Group plc has continued its existing share buyback programme by purchasing 15,144 ordinary shares on 2 January 2026 at a volume-weighted average price of 1,283.48 pence per share from Berenberg. The company intends to cancel all the shares bou...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
CVS Group Reduces Share Count Further with Ongoing Buyback Programme
Positive
Jan 2, 2026
CVS Group plc has continued its previously announced share buyback programme, repurchasing 4,554 ordinary shares on 31 December 2025 at a volume-weighted average price of 1,273.59 pence per share from Berenberg. The company intends to cancel these...
Stock Buyback
CVS Group Cancels Further Shares Under Ongoing Buyback Programme
Positive
Dec 31, 2025
CVS Group plc has continued to execute its share buyback programme, repurchasing 7,816 ordinary shares on 30 December 2025 at prices between 1,266p and 1,284p per share, with a volume-weighted average price of 1,278.10p. The company intends to can...
Stock BuybackRegulatory Filings and Compliance
CVS Group Updates Total Voting Rights After Share Buyback Cancellations
Neutral
Dec 31, 2025
CVS Group plc has updated the market on its total voting rights following the cancellation of ordinary shares repurchased under its share buyback programme announced in October 2025. As of 31 December 2025, the company’s issued share capital...
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares as Buyback Programme Passes 1 Million Mark
Positive
Dec 31, 2025
CVS Group plc has continued its share buyback programme with the purchase of 7,816 ordinary shares on 30 December 2025 at prices between 1,266p and 1,284p, for a volume-weighted average price of 1,278.10p per share. All of these shares will be can...
Business Operations and StrategyStock Buyback
CVS Group Cancels Further Shares as Buyback Programme Passes 1m Mark
Positive
Dec 30, 2025
CVS Group plc has continued its previously announced share buyback programme with the repurchase on 29 December 2025 of 15,260 ordinary shares at prices between 1,268.00p and 1,282.00p, at a volume-weighted average price of 1,276.03p per share. Th...
Business Operations and StrategyStock Buyback
CVS Group Continues Share Buyback, Cuts Share Count to 70.7 Million
Positive
Dec 29, 2025
CVS Group plc, the AIM-listed veterinary services provider operating roughly 470 practices across the UK and Australia, continues to focus on high-quality clinical care for companion animals through its extensive network of clinics and support tea...
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.