Greencore (GNC) AI Stock Analysis

• Market Cap: £1.19B
• Dividend Yield: 0.79%
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): 20.7
• Beta (1Y): 0.75
• Revenue Growth: 7.74%
• EPS Growth: 30.09%
• Country: UK
• Employees: 13,300
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.09
• Shares Outstanding: 443,017,200
• 10 Day Avg. Volume: 1,533,080
• 30 Day Avg. Volume: 1,508,070
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £231.00
• Price Target Upside: -15.54% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: 301.00p ▲(10.05% Upside)

Greencore's overall stock score is driven by its strong earnings call performance, indicating robust profitability and strategic growth initiatives. Financial performance is solid, with stable revenue growth and profitability margins. Technical analysis shows moderate bullish momentum, while valuation suggests the stock is fairly priced. The absence of significant corporate events further supports a stable outlook.

Positive Factors

Revenue Growth

Consistent 7.7% y/y revenue growth to nearly GBP 2bn demonstrates expanding scale and deepening retailer contracts. Sustainable top-line expansion supports investment in automation and new product development, strengthening market position and long-term cash generation.

Improving ROIC & Operating Profit

A 15% ROIC alongside a near 29% rise in adjusted operating profit indicates effective capital allocation and improving operating leverage. Higher returns and margin expansion enhance reinvestment capacity, resilience to cost shocks, and long-term shareholder value creation.

Cash Generation & Balance Sheet

GBP 120.5m of free cash inflow with 66.5% conversion, combined with a moderate debt-to-equity ratio (~0.42), provides financial flexibility. Robust cash conversion supports capex, dividends and planned M&A while preserving balance sheet strength over the medium term.

Negative Factors

Inflationary Cost Pressure

A GBP 45m inflation impact from labor and materials is a material structural headwind. Persistent input-cost inflation can compress margins unless offset by pricing or productivity gains, challenging competitiveness with major retailers and long-term margin sustainability.

Declining FCF Growth

A 12.34% decline in free cash flow growth reduces the pace of cash conversion improvement. Even with positive absolute FCF, slower growth limits reinvestment, organic expansion and the capacity to fund acquisitions without increasing leverage, constraining long-term flexibility.

Category Underperformance (Salads)

Weakness in the salad portfolio signals category-specific demand or competitive issues. Given Greencore's exposure to ready-to-eat categories, prolonged underperformance risks revenue mix deterioration, lost shelf space with retailers and pressure on margins over subsequent quarters.

Greencore Business Overview & Revenue Model

Company Description

Greencore Group plc, together with its subsidiaries, engages in the manufacture and sale of convenience food products primarily in the United Kingdom and Ireland. The company provides various products, including sandwiches, salads, sushi, chilled snacking, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire Puddings. It is also involved in the trading of Irish ingredients; finance activities; and property business. The company supplies its products to supermarkets, convenience and travel retail outlets, discounters, coffee shops, foodservice, and other retailers. Greencore Group plc was incorporated in 1991 and is headquartered in Dublin, Ireland.

How the Company Makes Money

Greencore generates revenue primarily through the production and sale of convenience food products to retailers and food service businesses. The company's key revenue streams include ready-to-eat meals, sandwiches, salads, and other prepared foods, which are sold to large supermarket chains and food service operators. Greencore's business model is centered around long-term contracts with major clients, which provide a stable source of income. Additionally, the company invests in innovation to develop new products that cater to changing consumer tastes and trends, enhancing its market position. Strategic partnerships with prominent retailers also play a crucial role in its earnings, as they facilitate broader distribution and increased sales volumes. Factors contributing to Greencore's earnings include its operational efficiency, ability to adapt to market demands, and a focus on sustainability, which resonates with environmentally conscious consumers.

Greencore Financial Statement Overview

Summary

Greencore exhibits a well-rounded financial profile with efficient operations and solid cash flow management. While the balance sheet is stable, the income statement indicates a need for margin enhancements. Continued focus on reducing debt and improving profitability will be crucial for sustained growth.

Income Statement

Greencore's income statement shows a stable revenue base with a slight decline from the previous year, indicating potential market challenges. The company maintains healthy gross and EBIT margins, implying strong operational efficiency. However, net profit margins are modest, suggesting room for improvement in managing expenses.

Balance Sheet

The balance sheet reflects a sound equity position with a manageable debt-to-equity ratio. Return on equity has been positive, indicating decent profitability for shareholders. Nevertheless, the company's total debt level should be monitored to prevent financial strain.

Cash Flow

Greencore's cash flow statement is robust, with consistent free cash flow generation and positive operating cash flow to net income ratio. The company has demonstrated effective cash management practices, supporting operational and strategic initiatives.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.86B	1.95B	1.81B	1.91B	1.74B	1.32B
Gross Profit	589.70M	632.50M	599.60M	568.80M	523.00M	422.90M
EBITDA	152.60M	158.70M	147.80M	124.10M	110.60M	101.30M
Net Income	54.60M	57.60M	46.30M	35.90M	32.30M	25.40M
Balance Sheet
Total Assets	1.23B	1.27B	1.20B	1.30B	1.34B	1.29B
Cash, Cash Equivalents and Short-Term Investments	87.90M	81.80M	57.30M	116.50M	99.60M	119.10M
Total Debt	275.80M	207.70M	250.30M	315.50M	327.60M	361.80M
Total Liabilities	772.80M	780.70M	754.50M	837.90M	873.10M	868.30M
Stockholders Equity	452.30M	492.00M	450.20M	459.80M	465.60M	423.20M
Cash Flow
Free Cash Flow	139.40M	122.20M	79.60M	61.60M	42.90M	62.50M
Operating Cash Flow	176.80M	165.60M	112.00M	99.00M	92.90M	102.70M
Investing Cash Flow	-37.50M	-43.40M	-31.70M	-31.30M	-50.00M	-17.60M
Financing Cash Flow	-138.30M	-85.50M	-98.70M	-81.50M	-69.40M	-58.10M

Greencore Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 273.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GNC, the sentiment is Positive. The current price of 273.5 is above the 20-day moving average (MA) of 251.70, above the 50-day MA of 241.73, and above the 200-day MA of 229.02, indicating a bullish trend. The MACD of 5.55 indicates Negative momentum. The RSI at 69.85 is Neutral, neither overbought nor oversold. The STOCH value of 90.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:GNC.

Greencore Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CWK	78 Outperform	£2.74B	18.51	15.07%	2.06%	6.96%	28.47%
PFD	76 Outperform	£1.48B	11.22	9.47%	1.62%	0.50%	20.52%
HFG	71 Outperform	£456.23M	11.65	12.72%	7.01%	8.58%	-15.81%
GNC	70 Outperform	£1.19B	20.66	12.23%	0.79%	7.74%	30.09%
ABF	69 Neutral	£13.14B	13.13	9.22%	2.98%	-3.06%	-26.93%
BAKK	64 Neutral	£1.49B	38.95	5.88%	2.52%	0.59%	-41.66%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%

Greencore Corporate Events

Greencore Advances Bakkavor Takeover With FCA-Approved Share Prospectus

Greencore Group has published a prospectus approved by the UK Financial Conduct Authority for the issue of new Greencore shares to Bakkavor shareholders, a key step in its recommended acquisition of Bakkavor Group. Under the agreed terms, Bakkavor investors will receive a mix of new Greencore shares, cash and a contingent value right, with up to 361.9 million new Greencore shares to be admitted to trading on the London Stock Exchange’s main market, expected from 19 January 2026, subject to court sanction of the scheme and other conditions. Bakkavor’s listing is slated to be cancelled on the same date, consolidating the combined group under Greencore’s London listing, while two Bakkavor directors, Mike Edwards and Lee Miley, are now expected to remain on the Bakkavor board for agreed periods after completion, signalling a measure of continuity in governance during the integration phase.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £266.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Confirms Total Voting Rights at 443 Million Shares

Greencore Group has confirmed that its issued ordinary share capital now comprises 443,017,199 ordinary shares, each carrying one vote, giving the company a total of 443,017,199 voting rights. The updated figure provides investors and other market participants with the denominator needed to assess and report any notifiable holdings or changes in their shareholdings under the UK Financial Conduct Authority’s disclosure and transparency rules, reinforcing transparency around Greencore’s ownership structure.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £266.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Issues 2025 Annual Report and Sets Date for 2026 AGM

Greencore Group plc has published its 2025 Annual Report and Financial Statements and issued the formal notice and documentation for its 2026 Annual General Meeting, which will take place on 29 January 2026 at the Maldron Hotel Dublin Airport in Ireland. Shareholders are being sent the chair’s letter and AGM notice, the full annual report and accounts for the year ended 26 September 2025, and a form of proxy, with all materials also being made available via the company’s website and the UK National Storage Mechanism; investors are encouraged to use proxy voting, submit questions in advance, and monitor the company’s website for any further updates regarding the AGM arrangements.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £266.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Set to Complete Bakkavor Acquisition in January 2026

Greencore Group PLC has announced the expected completion of its acquisition of Bakkavor Group PLC on January 16, 2026. The acquisition has cleared major regulatory hurdles, including approvals from the UK Competition and Markets Authority and the United States HSR Act. This strategic move is anticipated to strengthen Greencore’s position in the convenience food sector, with potential implications for stakeholders, including changes in board membership and the integration of Bakkavor’s operations.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £266.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Announces Executive Share Vesting and Sale

Greencore Group plc announced a transaction involving Dalton Philips, an Executive Director, who vested an award of 1,560,113 ordinary shares under the company’s Performance Share Plan. A portion of these shares was sold to cover tax liabilities, with the remaining shares subject to a mandatory two-year holding period, reflecting the company’s strategic approach to executive compensation and shareholder value management.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £300.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Announces Current Share Capital Details

Greencore Group PLC, a company with a focus on the food industry, has announced its current issued ordinary share capital, which consists of 442,920,676 ordinary shares with voting rights. This announcement is significant for shareholders as it provides the necessary information for them to calculate their interests under the FCA’s Disclosure and Transparency Rules.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £300.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Group Announces Executive Share Awards

Greencore Group PLC announced transactions involving its executive directors, Dalton Philips and Catherine Gubbins, under the company’s Deferred Bonus Plan. Dalton Philips was awarded 205,038 ordinary shares, while Catherine Gubbins received 90,562 ordinary shares and an additional 6,018 shares due to a previous administrative error. These shares will vest in three years, contingent on their continued employment, reflecting the company’s commitment to aligning executive incentives with long-term performance.

The most recent analyst rating on (GB:GNC) stock is a Buy with a £300.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Chair Purchases 40,000 Shares, Signaling Confidence

Greencore Group plc announced a significant transaction involving its Non-Executive Chair, Leslie Van de Walle, and a closely associated person, Domitille Marie Renée Van de Walle, who purchased 40,000 ordinary shares at a price of £2.362 each. This transaction, conducted in London on November 19, 2025, may indicate confidence in the company’s future prospects and could positively influence stakeholder perceptions.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £185.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Group PLC Releases FY25 Annual Report

Greencore Group PLC has announced the availability of its FY25 Annual Report and Financial Statements. The documents will be accessible on the company’s website and through the national storage mechanism. This release provides stakeholders with insights into the company’s financial performance over the past year, which could influence investor decisions and market perceptions.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Sells Bristol Site to Facilitate Bakkavor Acquisition

Greencore Group PLC has signed a binding agreement to sell its Bristol site, which manufactures chilled soups and sauces, to Compleat Food Group. This sale is a strategic move to gain approval from the Competition and Markets Authority for Greencore’s acquisition of Bakkavor Group PLC, expected to complete in early 2026. The Bristol site accounts for approximately 1% of the combined revenues of Greencore and Bakkavor, and its sale is crucial for avoiding a Phase 2 investigation by the CMA, thereby facilitating the acquisition process.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Reports Strong FY25 Results and Strategic Acquisition Plans

Greencore Group plc has reported a robust financial performance for the fiscal year ending September 2025, with a 29% increase in adjusted operating profit and a 7.7% rise in group revenue. The company is set to strengthen its market position with the proposed acquisition of Bakkavor Group plc, expected to complete in early 2026, subject to regulatory approval. This acquisition, alongside strategic investments in automation and productivity, positions Greencore for continued growth despite economic uncertainties and inflationary pressures.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore’s Acquisition of Bakkavor Approved by CMA

Greencore Group PLC announced that the Competition and Markets Authority (CMA) has approved in principle a remedy allowing Greencore to proceed with its acquisition of Bakkavor Group PLC, aiming for completion in early 2026. The remedy involves selling Greencore’s Bristol chilled soups and sauces site, which represents about 1% of the combined group’s revenue. This acquisition is expected to create a leading convenience food business, enhancing opportunities for employees, improving service and innovation for customers, and generating value for shareholders.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore Announces Current Voting Rights and Share Capital Structure

Greencore Group PLC has announced that its issued ordinary share capital consists of 442,855,802 ordinary shares, each carrying one vote, resulting in a total of 442,855,802 voting rights. This information is crucial for shareholders as it serves as the denominator for calculations to determine if they need to notify changes in their interest under the FCA’s Disclosure and Transparency Rules.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.

Greencore’s Acquisition of Bakkavor Clears CMA Phase 1

Greencore Group PLC has received a positive Phase 1 decision from the UK’s Competition and Markets Authority (CMA) regarding its acquisition of Bakkavor Group plc. The CMA found no significant competition concerns for 99% of the combined group’s revenues, with only a potential issue in the supply of own label chilled sauces. Greencore now has the opportunity to propose remedies to address this concern, avoiding a more in-depth Phase 2 investigation. The transaction is expected to be completed in early 2026, with both companies expressing optimism about the merger’s benefits for stakeholders and the creation of a national food champion.

The most recent analyst rating on (GB:GNC) stock is a Hold with a £255.00 price target. To see the full list of analyst forecasts on Greencore stock, see the GB:GNC Stock Forecast page.