The Gym Group PLC (GB:GYM)
LSE:GYM
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The Gym
(LSE:GYM)
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Rating:61Neutral
Price Target:
190.00 p
▲(4.11% Upside)
Action:ReiteratedDate:04/10/26
Score is driven primarily by improving fundamentals and solid cash generation, tempered by high leverage and thin net margins. Technicals are supportive with an established uptrend, but the high P/E (and lack of dividend data) weighs on valuation.
Positive Factors
Revenue Growth
Consistent revenue expansion from ~£80m to ~£245m (2020–2025) indicates durable market penetration and scale in the core leisure business. Sustained top-line growth supports recurring membership economics, helps absorb fixed costs, and underpins medium-term margin and investment capacity.
Negative Factors
High Leverage
Balance sheet leverage (debt ~£410m vs equity ~£142m; D/E ~2.9x) is elevated and constrains financial flexibility. High debt raises refinancing and interest-rate risk, limits the ability to fund growth or weather demand weakness, and increases sensitivity to macro tightening over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent revenue expansion from ~£80m to ~£245m (2020–2025) indicates durable market penetration and scale in the core leisure business. Sustained top-line growth supports recurring membership economics, helps absorb fixed costs, and underpins medium-term margin and investment capacity.
Read all positive factors
The Gym (GYM) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£307.02M
Dividend YieldN/A
Average Volume (3M)174.96K
Price to Earnings (P/E)35.4
Beta (1Y)0.54
Revenue Growth8.22%
EPS Growth68.40%
CountryUK
Employees1,837
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)0.02
Shares Outstanding177,806,120
10 Day Avg. Volume162,883
30 Day Avg. Volume174,959
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)1.85
Price to Sales (P/S)1.07
P/FCF Ratio4.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£230.00Price Target Upside26.03% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.05
Revenue Forecast (FY)£267.41M
The Gym Business Overview & Revenue Model
Company Description
The Gym Group plc operates a chain of health and fitness facilities in the United Kingdom. As of December 31, 2021, it operated 202 gym sites under The Gym Group brand. The company was founded in 2007 and is based in Croydon, the United Kingdom....
How the Company Makes Money
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The Gym Earnings Call Summary
Earnings Call Date:Sep 10, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 16, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in revenue, EBITDA, and membership, with effective cost management and debt reduction. However, there are some concerns regarding central cost growth and anticipated inflationary pressures on site costs. The sentiment remains largely positive due to the significant achievements and strategic advancements.Positive Updates
Strong Revenue and Membership Growth
Closing membership up 5%, revenue for the period up 8%, and average revenue per member month increased by 4%.
Negative Updates
Central Costs Growth
Central costs grew by 7%, with expectations for growth rate to slow in the second half.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Revenue and Membership Growth
Closing membership up 5%, revenue for the period up 8%, and average revenue per member month increased by 4%.
Read all positive updates
Company Guidance
The guidance provided during the Gym Group's half-year results call for 2025 highlighted several key financial and operational metrics. The company reported a 5% increase in closing membership and an 8% rise in revenue, with a 3% growth on a like-for-like basis. EBITDA, less normalized rent, saw a significant increase of 24%, reflecting strong cost management. Average members in the first half reached 953,000, up 4% year-on-year, with an average revenue per member month of GBP 21.16. The company achieved a free cash flow of GBP 25.1 million, allowing a net debt reduction to GBP 51.2 million and a net debt-to-EBITDA leverage ratio of 1x. The Gym Group plans to open 14 to 16 new sites in 2025, aligning with its strategy to launch approximately 50 new sites over three years. The company also emphasized the ongoing structural growth of the gym market, with gym penetration rates hitting new highs, and expressed confidence in further progress on mature site ROIC, which will be detailed in the full-year results.The Gym Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
48
Neutral
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 244.90M | 226.30M | 204.00M | 172.90M | 106.00M |
| Gross Profit | 179.50M | 223.40M | 201.20M | 111.40M | 51.60M |
| EBITDA | 93.40M | 83.40M | 70.80M | 56.20M | 25.10M |
| Net Income | 7.40M | 4.40M | -8.40M | -19.30M | -35.40M |
Balance Sheet | |||||
| Total Assets | 615.90M | 585.60M | 571.50M | 595.60M | 564.70M |
| Cash, Cash Equivalents and Short-Term Investments | 3.00M | 3.00M | 1.50M | 5.40M | 7.30M |
| Total Debt | 409.70M | 401.80M | 398.10M | 420.40M | 380.60M |
| Total Liabilities | 474.20M | 454.00M | 443.50M | 461.60M | 412.60M |
| Stockholders Equity | 141.70M | 131.60M | 128.00M | 134.00M | 152.10M |
Cash Flow | |||||
| Free Cash Flow | 56.80M | 55.10M | 55.80M | 19.40M | 11.40M |
| Operating Cash Flow | 97.90M | 95.10M | 79.50M | 63.10M | 37.10M |
| Investing Cash Flow | -51.20M | -39.50M | -23.40M | -48.70M | -25.70M |
| Financing Cash Flow | -46.70M | -54.10M | -60.00M | -16.30M | -7.80M |
The Gym Technical Analysis
Positive
182.50
Price Trends
175.50
Positive
164.88
Positive
154.60
Positive
Market Momentum
1.57
Negative
59.21
Neutral
65.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GYM, the sentiment is Positive. The current price of 182.5 is above the 20-day moving average (MA) of 173.36, above the 50-day MA of 175.50, and above the 200-day MA of 154.60, indicating a bullish trend. The MACD of 1.57 indicates Negative momentum. The RSI at 59.21 is Neutral, neither overbought nor oversold. The STOCH value of 65.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:GYM.
The Gym Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £422.44M | 12.45 | 22.81% | 4.36% | 8.79% | 16.48% | |
74 Outperform | £126.19M | 10.13 | 20.23% | 3.00% | 22.17% | 41.89% | |
66 Neutral | £1.48B | 8.30 | 6.46% | ― | 3.87% | 18.87% | |
66 Neutral | £3.99B | 6.31 | 7.68% | 3.80% | -2.12% | 8.95% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £307.02M | 35.45 | 5.35% | ― | 8.22% | 68.40% | |
55 Neutral | £594.87M | 8.99 | 15.81% | 1.50% | 5.39% | -3.64% |
* Consumer Cyclical Sector Average
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The Gym Corporate Events
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
The Gym Group Sets Date for 2026 AGM and Publishes 2025 Annual Report
Neutral
Apr 8, 2026
The Gym Group plc has distributed its Annual Report and Accounts for the year ended 31 December 2025, the notice of its 2026 Annual General Meeting, and the rules of its Save As You Earn and Share Incentive Plans to shareholders. These documents h...
Business Operations and StrategyStock Buyback
The Gym Group Cuts Share Count With Latest Buyback Cancellation
Positive
Apr 7, 2026
The Gym Group plc has repurchased 228,644 ordinary shares between 30 March and 2 April 2026 through Peel Hunt LLP at prices ranging from 171.60p to 175.80p, with a volume-weighted average price of 174.62p. The company plans to cancel these shares,...
Regulatory Filings and Compliance
The Gym Group Updates Total Voting Rights After Admission of New Shares
Neutral
Apr 1, 2026
The Gym Group has confirmed that its issued share capital now consists of 177,949,794 ordinary shares, all carrying voting rights, with none held in treasury. This updated share count provides the new denominator shareholders must use when calcula...
Business Operations and StrategyStock Buyback
The Gym Group Cancels 301,094 Shares After Buyback
Neutral
Mar 30, 2026
The Gym Group has repurchased 301,094 ordinary shares on the London Stock Exchange between 23 and 27 March 2026 at prices ranging from 160p to 175p, with a volume-weighted average price of 164.28p, and intends to cancel all of these shares. Follow...
Stock Buyback
The Gym Group Buys Back and Cancels 213,810 Shares
Positive
Mar 23, 2026
The Gym Group plc, a U.K.-based low-cost fitness operator, runs budget gyms aimed at offering affordable, no-frills exercise facilities to mass-market consumers. Its model emphasises high accessibility and value, positioning the brand as a leading...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Newly Repurchased Shares, Updates Voting Rights
Positive
Mar 16, 2026
The Gym Group plc has repurchased 66,819 ordinary shares at 175 pence each through broker Peel Hunt LLP as part of its ongoing share buyback activity. The company plans to cancel these shares, reducing its issued share capital and simplifying its ...
Financial DisclosuresRegulatory Filings and Compliance
The Gym Group Publishes 2025 Annual Report and Accounts
Neutral
Mar 13, 2026
The Gym Group Plc has published its 2025 Annual Report and Accounts following the release of its full-year 2025 results, making the document available on the company’s website. The report has also been submitted to the U.K. National Storage ...
Business Operations and StrategyExecutive/Board Changes
The Gym Group Grants Performance-Based Share Awards to Executives
Positive
Mar 12, 2026
The Gym Group plc has granted 802,806 ordinary-share awards to chief executive Will Orr and chief financial officer Luke Tait under its 2026 incentive plan, representing the share element of their annual variable pay. The awards, which equate to 6...
Business Operations and StrategyExecutive/Board Changes
The Gym Group Announces Board Departure and Committee Succession Plans
Neutral
Mar 11, 2026
The Gym Group plc, a leading low-cost gym operator in the U.K., has announced that Non-Executive Director Wais Shaifta will step down from the board at the close of its Annual General Meeting on 7 May 2026 after five years of service. The Nominati...
Business Operations and StrategyStock BuybackFinancial Disclosures
The Gym Group Accelerates Growth After Profits and Cash Flow Surge in 2025
Positive
Mar 11, 2026
The Gym Group reported robust 2025 results, with revenue up 8%, adjusted EBITDA less normalised rent rising 19% to £56.7m, and adjusted profit before tax nearly tripling, supported by higher membership, improved yield and tight cost control. ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Repurchased Shares and Switches to Weekly Buyback Updates
Positive
Mar 10, 2026
The Gym Group plc has repurchased 63,887 ordinary shares at 174 pence each as part of its ongoing share buyback programme and intends to cancel them, reducing its issued share capital to 178,707,720 shares with no shares held in treasury. The move...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Repurchased Shares and Shifts to Weekly Buyback Disclosures
Neutral
Mar 10, 2026
The Gym Group has repurchased 63,887 ordinary shares at 174 pence each as part of its ongoing share buyback programme and intends to cancel these shares. Following cancellation, the company’s issued share capital will comprise 178,707,720 sh...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Latest Share Buyback and Moves to Weekly Disclosures
Neutral
Mar 10, 2026
The Gym Group plc has repurchased 63,887 ordinary shares at 174 pence each via Peel Hunt LLP and intends to cancel them, reducing its issued share capital to 178,707,720 shares with no treasury holdings. The move marginally concentrates existing s...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Count After Targeted Buyback
Positive
Mar 9, 2026
The Gym Group plc has repurchased 68,242 of its ordinary shares at 175 pence each through Peel Hunt, as part of a share buyback initiative. The company intends to cancel these shares, reflecting a capital management decision that may signal confid...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels 66,103 Shares After Buyback, Updates Voting Rights
Positive
Mar 6, 2026
The Gym Group plc has repurchased 66,103 of its ordinary shares at a price of 175 pence per share through Peel Hunt LLP, as part of its ongoing share buyback activity. The company intends to cancel these shares, which will reduce its issued share ...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Newly Repurchased Shares, Updates Voting Capital
Positive
Mar 5, 2026
The Gym Group plc has repurchased 62,855 of its ordinary shares at a price of 172.60 pence per share via Peel Hunt LLP and intends to cancel these shares. Following this transaction and cancellation, the company’s issued share capital will c...
Stock Buyback
The Gym Group Buys Back and Cancels 57,539 Shares
Positive
Mar 4, 2026
The Gym Group plc, a U.K.-based budget gym operator, continues to refine its capital structure while serving value-focused fitness consumers. The business runs a network of low-cost gyms, positioning itself in the competitive, high-volume segment ...
Regulatory Filings and Compliance
The Gym Group Confirms Total Voting Rights Following Share Capital Update
Neutral
Mar 2, 2026
The Gym Group has confirmed that as of 28 February 2026 its issued share capital comprises 179,061,278 ordinary shares, each carrying one vote, with no shares held in treasury. This establishes the total number of voting rights at 179,061,278, pro...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Count with Targeted Buyback
Neutral
Feb 26, 2026
The Gym Group plc, a U.K.-based operator of low-cost fitness clubs, targets value-conscious consumers with flexible, affordable memberships and runs a nationwide network of gyms. Its listed status means that changes in issued share capital and vot...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Newly Repurchased Shares, Updates Voting Rights
Positive
Feb 24, 2026
The Gym Group plc has repurchased 56,115 of its ordinary shares at a price of 175 pence each as part of its share buyback activity and intends to cancel these shares. Following the cancellation, the company’s issued share capital will compri...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Shares After Latest Buyback
Positive
Feb 23, 2026
The Gym Group plc has repurchased 54,264 of its ordinary shares at 175 pence each as part of its ongoing share buyback activity, with all shares acquired on the London Stock Exchange. The company intends to cancel these shares, signalling a move t...
Business Operations and StrategyStock Buyback
The Gym Group Cancels Newly Repurchased Shares, Trimming Share Capital
Positive
Feb 9, 2026
The Gym Group plc has repurchased 20,161 of its ordinary shares on 6 February 2026 through Peel Hunt at a volume-weighted average price of 174.34 pence per share. The company plans to cancel these shares, which will reduce its issued share capital...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Newly Repurchased Shares, Reducing Issued Capital
Neutral
Feb 6, 2026
The Gym Group plc has repurchased 42,306 of its ordinary shares on 5 February 2026 at a volume-weighted average price of 173.76 pence per share as part of its ongoing share buyback programme. The company intends to cancel these shares, reducing it...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels 48,458 Shares After Latest Buyback Transaction
Positive
Feb 5, 2026
The Gym Group plc has repurchased 48,458 of its ordinary shares on 4 February 2026 at a volume-weighted average price of 173.74 pence per share as part of its ongoing share buyback programme, and intends to cancel the shares. Following this transa...
Stock Buyback
The Gym Group Cuts Share Count with Targeted Buyback and Cancellation
Positive
Feb 4, 2026
The Gym Group plc has repurchased 64,514 of its ordinary shares at a price of 169 pence per share via Peel Hunt LLP and intends to cancel the shares. Following this buyback and cancellation, the company’s issued share capital will be reduced...
Regulatory Filings and Compliance
The Gym Group Confirms Total Voting Rights at 179.3 Million Shares
Neutral
Feb 3, 2026
The Gym Group plc has confirmed that, as of 31 January 2026, its issued share capital comprises 179,348,506 ordinary shares, each carrying one vote, with no shares held in treasury. This disclosure sets the official total of voting rights for regu...
Business Operations and StrategyStock Buyback
The Gym Group Cancels 66,354 Shares After Latest Buyback
Positive
Feb 3, 2026
The Gym Group plc has repurchased 66,354 of its ordinary shares on 2 February 2026 at a volume-weighted average price of 168.65 pence per share as part of its ongoing share buyback programme, with the transaction executed via Peel Hunt LLP. The co...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels 60,880 Shares Following Buyback Transaction
Positive
Feb 2, 2026
The Gym Group plc has repurchased 60,880 of its ordinary shares on 30 January 2026 at a volume-weighted average price of 167.39 pence per share as part of its ongoing share buyback programme, with trades executed via Peel Hunt LLP on the London St...
Stock Buyback
The Gym Group Cancels 49,000 Shares Following Market Buyback
Positive
Jan 30, 2026
The Gym Group plc has repurchased 49,186 of its own ordinary shares on 29 January 2026 via Peel Hunt at a volume-weighted average price of 167.09 pence, with trades executed between 165.60 and 168.00 pence per share. The company intends to cancel ...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Count with Buyback and Cancellation
Neutral
Jan 29, 2026
The Gym Group plc has repurchased 15,000 of its ordinary shares at a price of 165 pence per share through Peel Hunt LLP and intends to cancel these shares. Following the cancellation, the company’s issued share capital will comprise 179,458,...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Count with Latest Buyback and Cancellation
Neutral
Jan 28, 2026
The Gym Group plc has repurchased 21,410 of its ordinary shares at a price of 168.40 pence per share through Peel Hunt LLP and intends to cancel these shares. Following this transaction and cancellation, the company’s issued share capital wi...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Reduces Share Capital with Latest Buyback
Neutral
Jan 27, 2026
The Gym Group plc has repurchased 20,479 of its ordinary shares at a price of 168 pence per share through Peel Hunt LLP and plans to cancel them as part of its ongoing share buyback activity. Following this transaction and the cancellation of thes...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Buys Back and Cancels 18,823 Shares, Updates Voting Rights
Neutral
Jan 26, 2026
The Gym Group plc has repurchased 18,823 of its ordinary shares at a price of 168.8 pence per share as part of its ongoing share buyback programme, with all repurchases executed on the London Stock Exchange through Peel Hunt LLP. The company inten...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Count with Latest Buyback and Cancellation
Neutral
Jan 23, 2026
The Gym Group plc has repurchased 23,891 of its ordinary shares at a price of 167.40 pence per share as part of its ongoing share buyback activity, executing the transaction via Peel Hunt LLP on 22 January 2026. The company intends to cancel these...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Repurchased Shares, Adjusts Voting Capital
Neutral
Jan 22, 2026
The Gym Group plc has repurchased 18,635 of its ordinary shares on 21 January 2026 at a volume-weighted average price of 167.90 pence per share as part of its ongoing share buyback activity. The company intends to cancel these shares, reducing its...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cancels Shares After Targeted Buyback
Neutral
Jan 21, 2026
The Gym Group has executed a buyback of 20,856 ordinary shares on 20 January 2026, at prices between 167.40p and 169.20p per share, with a volume-weighted average price of 168.15p, through broker Peel Hunt. The company intends to cancel these shar...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Buys Back and Cancels 19,254 Shares
Neutral
Jan 20, 2026
The Gym Group plc has repurchased 19,254 of its own ordinary shares at a price of 167.77 pence per share through Peel Hunt LLP and intends to cancel these shares. Following the cancellation, the company’s issued share capital will be reduced...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Cuts Share Capital with Latest Buyback
Neutral
Jan 19, 2026
The Gym Group plc has repurchased 19,805 of its ordinary shares on 16 January 2026 through Peel Hunt LLP at a volume-weighted average price of 165.17 pence, with prices ranging between 164.00 and 166.00 pence. The company intends to cancel these s...
Stock BuybackRegulatory Filings and Compliance
The Gym Group Reduces Share Capital Through Further Buyback and Cancellation
Neutral
Jan 16, 2026
The Gym Group plc has continued its share buyback activity, repurchasing 20,827 ordinary shares on 15 January 2026 at prices between 164.40p and 165.00p per share, with a volume-weighted average price of 164.98p. The company intends to cancel the ...
Business Operations and StrategyStock Buyback
The Gym Group Launches £10m Share Buyback to Cut Share Capital
Positive
Jan 15, 2026
The Gym Group plc has launched a share buyback programme of up to £10 million, with purchases of ordinary shares to begin immediately and run until 31 December 2026 unless completed or terminated earlier. The company has appointed Peel Hunt L...
Business Operations and StrategyStock BuybackFinancial Disclosures
The Gym Group Lifts Guidance, Accelerates UK Rollout and Launches £10m Buyback
Positive
Jan 13, 2026
The Gym Group reported continued positive trading momentum in 2025, with revenue up 8% to £244.9m, like-for-like sales growing 3%, and average membership and revenue per member both increasing 4%. The group expects full-year 2025 adjusted EBI...
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.