3i Group PLC (GB:III)
LSE:III
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3i Group plc
(LSE:III)
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Rating:73Outperform
Price Target:
2,355.00 p
▼(-19.00% Downside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by strong fundamentals (low leverage and strong profitability) and very attractive valuation (low P/E with a solid dividend). These positives are partially offset by weak technical momentum (price below key moving averages, negative MACD, and very low RSI) and financial volatility, including a sharp 2026 revenue decline and materially weaker operating/free cash flow.
Positive Factors
Conservative balance sheet
Very low reported leverage gives 3i durable financial flexibility: it reduces refinancing risk, supports continued deployment into private equity and infrastructure, and preserves capacity for distributions or opportunistic acquisitions even through investment cycle volatility.
Negative Factors
Revenue and cash flow volatility
Large swings in revenue and operating/free cash flow show earnings realization is uneven. For an investment manager, this volatility undermines predictability of distributable cash, complicates capital planning, and can pressure dividends and fee realization during down cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low reported leverage gives 3i durable financial flexibility: it reduces refinancing risk, supports continued deployment into private equity and infrastructure, and preserves capacity for distributions or opportunistic acquisitions even through investment cycle volatility.
Read all positive factors
3i Group plc (III) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£22.50B
Dividend Yield2.44%
Average Volume (3M)1.81M
Price to Earnings (P/E)3.1
Beta (1Y)1.38
Revenue Growth-74.69%
EPS Growth2.97%
CountryUK
Employees249
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)5.37
Shares Outstanding1,024,006,100
10 Day Avg. Volume1,719,832
30 Day Avg. Volume1,814,927
Financial Highlights & Ratios
PEG Ratio1.39
Price to Book (P/B)0.77
Price to Sales (P/S)55.91
P/FCF Ratio163.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£3,255.33Price Target Upside11.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)5.08
Revenue Forecast (FY)£5.18B
3i Group plc Business Overview & Revenue Model
Company Description
3i Group plc is a private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins. The firm also provides infrastructure financing and debt management. For debt man...
How the Company Makes Money
3i Group makes money primarily from investment returns and investment management activities. A major earnings driver is value creation in its investment portfolio: it seeks to grow the earnings and enterprise value of its private equity holdings a...
3i Group plc Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with strong performance metrics and growth in key areas such as Action and Royal Sanders. However, challenges in the French market and macroeconomic concerns present notable risks.Positive Updates
Strong Financial Performance
3i Group delivered a total return of 13%, with a net asset value per share increasing to GBP 28.57 from GBP 22.61, and a gross investment return of 14% from private equity and 9% from infrastructure.
Negative Updates
Challenges in France
Action's like-for-like sales in France were negative in October due to challenging macroeconomic conditions, political uncertainty, and high food inflation, impacting overall group performance.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Financial Performance
3i Group delivered a total return of 13%, with a net asset value per share increasing to GBP 28.57 from GBP 22.61, and a gross investment return of 14% from private equity and 9% from infrastructure.
Read all positive updates
Company Guidance
During the 3i Group plc Half Year Results Presentation, the company reported a total return of 13%, with a net asset value (NAV) per share increasing to GBP 28.57 from GBP 22.61 the previous year. The gross investment return was 14% from private equity and 9% from infrastructure, with private equity showing strong earnings growth, where 86% of the portfolio by value grew earnings by more than 10%. Action, a significant part of their portfolio, demonstrated impressive performance with net sales up 17.4% and operating EBITDA increasing by 16.3% to GBP 1.563 billion. The company opened 272 new stores, with plans to reach approximately 380 by year-end, reflecting a 13% increase in store numbers. The French market posed challenges, potentially affecting the 6.1% like-for-like sales growth guidance, but the company remains optimistic about the Christmas season's impact. The investment in Action increased to 62.3%, with a significant refinancing deal completed in October, raising EUR 1.6 billion, mostly at a fixed euro cost under 4.6%, resulting in pro forma leverage of 3x. The broader private equity portfolio was valued at GBP 27.1 billion, with positive contributions from Royal Sanders and Audley, and the infrastructure portfolio valued at GBP 2.2 billion, contributing to a consistent compounding return on equity.3i Group plc Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
60
Neutral
| Breakdown | Mar 2026 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 428.00M | 5.27B | 3.98B | 606.00M | 238.00M |
| Gross Profit | 423.00M | 5.19B | 3.98B | 562.00M | 225.00M |
| EBITDA | 5.36B | 5.05B | 3.82B | 4.61B | 1.87B |
| Net Income | 5.29B | 5.04B | 3.84B | 4.57B | 1.85B |
Balance Sheet | |||||
| Total Assets | 32.34B | 26.06B | 21.64B | 17.82B | 10.33B |
| Cash, Cash Equivalents and Short-Term Investments | 635.00M | 412.00M | 358.00M | 162.00M | 216.00M |
| Total Debt | 1.26B | 1.24B | 1.25B | 785.00M | 992.00M |
| Total Liabilities | 1.45B | 1.45B | 1.47B | 975.00M | 1.17B |
| Stockholders Equity | 30.89B | 24.61B | 20.17B | 16.84B | 9.16B |
Cash Flow | |||||
| Free Cash Flow | 146.00M | 747.00M | 363.00M | 185.00M | -66.00M |
| Operating Cash Flow | 147.00M | 763.00M | 366.00M | 186.00M | -65.00M |
| Investing Cash Flow | 849.00M | -16.00M | -3.00M | 486.00M | -541.00M |
| Financing Cash Flow | -784.00M | -690.00M | -164.00M | -719.00M | 53.00M |
3i Group plc Technical Analysis
Negative
2907.50
Price Trends
2667.54
Negative
2967.88
Negative
3407.10
Negative
Market Momentum
-140.55
Positive
27.86
Positive
32.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:III, the sentiment is Negative. The current price of 2907.5 is above the 20-day moving average (MA) of 2541.18, above the 50-day MA of 2667.54, and below the 200-day MA of 3407.10, indicating a bearish trend. The MACD of -140.55 indicates Positive momentum. The RSI at 27.86 is Positive, neither overbought nor oversold. The STOCH value of 32.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:III.
3i Group plc Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £3.99B | 5.71 | 41.35% | 5.93% | 4.28% | 5.18% | |
76 Outperform | £9.02B | 4.03 | 12.35% | 5.37% | 12.45% | 28.89% | |
73 Outperform | £22.50B | 3.09 | 17.91% | 2.44% | -74.69% | 2.97% | |
67 Neutral | £5.07B | 5.37 | 23.35% | 4.13% | 28.34% | 44.04% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | £7.30B | 28.90 | 9.49% | 7.09% | 52.52% | ― | |
48 Neutral | £14.64B | 17.34 | 15.89% | 8.29% | 53.06% | 191.61% |
* General Sector Average
GB:III
3i Group plc
2,082.00
-1,860.81
-47.20%
GB:ICG
ICG plc
1,832.00
-137.36
-6.98%
GB:LGEN
Legal & General
264.30
41.13
18.43%
GB:SDR
Schroders
582.00
247.86
74.18%
GB:MNG
M&G Plc
308.80
102.63
49.78%
GB:N91
Ninety One
221.00
72.21
48.53%
3i Group plc Corporate Events
Other
3i Group Directors Increase Stakes with Six-Figure Share Purchases
Positive
May 15, 2026
3i Group has disclosed insider share purchases by two board members, underscoring management’s direct financial commitment to the company. Director James Hatchley acquired 10,000 ordinary shares at £20.8250 each, while Director Peter Mc...
Business Operations and StrategyStock Buyback
3i Group launches up to £750m share buyback to cut capital
Positive
May 14, 2026
3i Group plc has launched a share buyback programme of up to £750 million, under which Barclays Bank’s investment arm will repurchase the company’s ordinary shares on the market as riskless principal. The repurchased shares will b...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
3i Group lifts NAV and launches £750m buyback after another strong year
Positive
May 14, 2026
3i Group reported another strong year to 31 March 2026, delivering a 22% total return on opening shareholders’ funds and lifting net asset value per share to 3,030 pence, driven chiefly by discount retailer Action and resilient performances ...
Business Operations and Strategy
3i Group Directors Increase Holdings Under Share Incentive Plan
Positive
May 1, 2026
3i Group plc has reported routine share acquisitions by several directors and persons discharging managerial responsibilities under its Share Incentive Plan. Each of the named executives acquired a combination of partnership shares, purchased at a...
Delistings and Listing ChangesRegulatory Filings and Compliance
3i Group Adds Shares Under Existing Block Admission on LSE
Neutral
Apr 30, 2026
3i Group plc has admitted 4,665 additional ordinary shares to trading on the main market of the London Stock Exchange under an existing block admission. The new shares, issued and admitted on 30 April 2026, are fully fungible with the existing ord...
Regulatory Filings and Compliance
3i Group Updates Total Voting Rights After Share Allotment
Neutral
Apr 30, 2026
3i Group plc has updated its total voting rights following an allotment of shares under its Share Incentive Plan on 30 April 2026, bringing the number of issued ordinary shares to 1,024,707,442, each carrying one vote and with none held in treasur...
Business Operations and StrategyRegulatory Filings and Compliance
3i Group Reports No Exposure to Certain Closed-Ended Investment Funds
Positive
Apr 1, 2026
3i Group plc reported that, as of the last business day of March 2026, it held no investments in listed closed-ended investment funds that lack a restriction on investing more than 15% of their total assets in other listed closed-ended funds. This...
Executive/Board Changes
3i Group Directors Acquire Shares Under Incentive Plan
Positive
Apr 1, 2026
3i Group has disclosed that several directors and persons discharging managerial responsibilities acquired ordinary shares under the company’s Share Incentive Plan. The awards comprised partnership shares purchased at a set subscription pric...
Business Operations and StrategyDelistings and Listing Changes
3i Group Admits Additional Ordinary Shares to London Listing
Neutral
Mar 31, 2026
3i Group plc has expanded its listed equity base with the admission of 1,411 additional ordinary shares to trading on the main market of the London Stock Exchange. The new shares, issued and admitted on 31 March 2026, form part of an existing bloc...
Regulatory Filings and Compliance
3i Group Updates Share Capital and Voting Rights After Incentive Allotment
Neutral
Mar 31, 2026
3i Group plc has updated its capital and voting rights information following an allotment of shares under its Share Incentive Plan on 31 March 2026. The company now has 1,024,702,777 issued ordinary shares in circulation, each carrying one vote, a...
Regulatory Filings and Compliance
3i Group Executive Peter Wirtz Buys £585k in Company Shares
Positive
Mar 31, 2026
3i Group plc disclosed that Peter Wirtz, a person discharging managerial responsibilities at the firm, purchased 25,000 ordinary shares in the company on 30 March 2026. The transaction, executed on the London Stock Exchange at £23.3889 per sh...
Regulatory Filings and Compliance
3i CEO Simon Borrows and Family Trusts Buy 350,147 Shares
Positive
Mar 30, 2026
3i Group plc disclosed that chief executive and director Simon Borrows, together with a series of family trusts classified as Persons Closely Associated, purchased a total of 350,147 ordinary shares in the company on 26 March 2026. The shares were...
Delistings and Listing ChangesPrivate Placements and Financing
3i Group Expands Listed Share Capital on London Stock Exchange
Neutral
Mar 27, 2026
3i Group plc has admitted 31,365,846 additional ordinary shares to trading on the main market for listed securities of the London Stock Exchange. This raises the total number of its ordinary shares in issue and admitted to trading to 1,024,701,366...
Business Operations and StrategyDividendsFinancial Disclosures
3i Group Showcases Action’s Strong Growth and Maps U.S. Expansion Plans
Positive
Mar 26, 2026
3i Group highlighted the strong performance of its flagship portfolio company Action, a European non-food discount retailer, which delivered robust sales and EBITDA growth in its 2025 financial year and maintained healthy margins while expanding i...
Executive/Board ChangesRegulatory Filings and Compliance
3i Group Discloses Director Share Awards Under Incentive Plan
Neutral
Mar 2, 2026
3i Group plc has reported transactions under its Share Incentive Plan in which several directors and persons discharging managerial responsibilities acquired ordinary shares in the company. The latest allotments consisted of Partnership Shares pur...
Regulatory Filings and Compliance
3i Group Updates Total Voting Rights After Share Incentive Allotment
Neutral
Feb 27, 2026
3i Group plc has updated its total voting rights following an allotment of shares under the company’s Share Incentive Plan on 27 February 2026. The company now has 1,024,701,366 issued ordinary shares in circulation, each carrying one voting...
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.