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J D Wetherspoon
(LSE:JDW)
J D Wetherspoon (JDW) vs. iShares MSCI United Kingdom ETF (EWC)
J D Wetherspoon Business Overview & Revenue Model
J D Wetherspoon Financial Statement Overview
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.19B | 2.13B | 2.04B | 1.93B | 1.74B | 772.55M |
| Gross Profit | 244.40M | 142.16M | 238.10M | 159.07M | 100.28M | -72.02M |
| EBITDA | 225.14M | 214.58M | 229.62M | 266.26M | 192.65M | -24.71M |
| Net Income | 55.15M | 67.99M | 48.78M | 59.59M | 19.27M | -177.01M |
Balance Sheet | ||||||
| Total Assets | 1.90B | 1.91B | 1.90B | 1.99B | 2.09B | 2.01B |
| Cash, Cash Equivalents and Short-Term Investments | 40.07M | 38.68M | 57.23M | 87.17M | 40.35M | 45.41M |
| Total Debt | 1.20B | 1.19B | 1.14B | 1.18B | 1.41B | 1.41B |
| Total Liabilities | 1.56B | 1.55B | 1.50B | 1.59B | 1.76B | 1.73B |
| Stockholders Equity | 335.55M | 362.00M | 401.63M | 399.46M | 321.88M | 277.98M |
Cash Flow | ||||||
| Free Cash Flow | 121.87M | 100.40M | 62.30M | 315.45M | 73.46M | -57.61M |
| Operating Cash Flow | 178.74M | 193.23M | 172.56M | 362.41M | 119.35M | -35.30M |
| Investing Cash Flow | -89.55M | -108.84M | -98.64M | -67.17M | -112.20M | -57.73M |
| Financing Cash Flow | -122.87M | -102.94M | -103.86M | -248.41M | -12.21M | -36.02M |
J D Wetherspoon Technical Analysis
J D Wetherspoon Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £346.63M | 5.12 | 4.99% | 2.81% | 6.94% | 9.99% | |
67 Neutral | £425.45M | 5.72 | 1.48% | 3.20% | 12.91% | -13.62% | |
66 Neutral | £330.96M | 3.47 | 9.91% | ― | -0.08% | ― | |
66 Neutral | £1.52B | 8.30 | 6.46% | ― | 3.87% | 18.31% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | £659.42M | 11.48 | -68.82% | 6.46% | -0.67% | 2.43% | |
55 Neutral | £574.24M | 13.44 | 18.03% | 1.50% | 4.52% | 50.39% |
J D Wetherspoon Corporate Events
J D Wetherspoon reported interim revenue of £1.09 billion for the 26 weeks to 25 January 2026, up 5.7% year on year, with like-for-like sales 4.8% higher despite operating fewer pubs than before the pandemic. However, profit before tax fell 31.9% to £22.4 million, as steep increases in wages, energy, repairs and business rates compressed margins, leaving earnings per share down and profitability still below pre-pandemic levels.
Chairman Tim Martin highlighted that Wetherspoon continues to outperform the wider UK hospitality sector on like-for-like sales but warned that rising labour, tax and energy costs could push full-year profits slightly below market expectations. The group is pressing ahead with expansion, opening six managed pubs and eight franchised sites in the period and targeting up to 35 additional openings this year, while continuing to lobby for tax parity with supermarkets as cost pressures and weak consumer finances weigh on the industry.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £698.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon chairman Tim Martin has called for the U.K. pub industry to unite behind two simple tax reforms, arguing that pubs are overtaxed and disadvantaged versus supermarkets. He reiterates long-standing support for VAT equality between pubs and supermarkets, contending that current disparities have driven significant beer trade from pubs into retail.
Martin criticises Greene King’s recent push to base business rates on pub profits rather than sales, warning that such a system would be complex, costly, and inconsistent with the principle of property-based taxation. Instead, he urges backing a straightforward cut in the existing business rates multiplier from 43p to 28p in the pound, saying this would be easy to implement and deliver immediate, certain tax relief for pub operators.
By promoting VAT equalisation and a lower business rates multiplier, Wetherspoon is seeking a clear, industry-wide fiscal message that could bolster pub profitability and competitiveness. The company frames these measures as a practical path to restoring some of the sector’s lost ground to supermarkets while avoiding the risks and uncertainties of wholesale reform of the rating system.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £840.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has reported routine insider share dealings under its partnership share plan, through which employees buy company stock via monthly salary deductions at the prevailing market price. The scheme, administered by Global Shares Trustees (UK) Limited, reflects the company’s ongoing emphasis on employee share ownership as part of its compensation and engagement strategy.
On 12 March 2026, several directors and other persons discharging managerial responsibilities, including the chief executive and finance director, acquired small parcels of ordinary shares at 671.49 pence each. While modest in size, these purchases incrementally increase management’s direct equity exposure and underscore Wetherspoon’s efforts to align senior staff with shareholder outcomes and reinforce long-term commitment to the business.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £840.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has reported a series of small share purchases by its directors and senior managers under the company’s partnership share plan. Through Global Shares Trustees, executives including the chief executive, finance director and various functional directors acquired modest numbers of ordinary shares at £7.64 each on 19 February 2026.
The transactions, conducted in London and notified as required for persons discharging managerial responsibility, modestly increase insider ownership and reinforce alignment between management and shareholders. The activity highlights continued use of the employee share scheme as part of Wetherspoon’s remuneration and engagement structure, rather than indicating any change in strategic direction or capital structure.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £840.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has granted awards over its ordinary shares to directors and other persons discharging managerial responsibilities under its unapproved Share Incentive Plan. The awards, made on 13 February 2026 at nil cost, will vest after three years contingent on continued employment, giving recipients the choice between receiving shares or an equivalent cash amount, highlighting the group’s ongoing use of equity-linked pay to incentivise senior management and employee directors.
Chief executive John Hutson, finance director Ben Whitley and personnel and retail audit director James Ullman are among the largest beneficiaries, alongside several employee and associate employee directors and senior PDMRs. The move modestly increases potential future equity exposure for key executives and staff, reinforcing retention and alignment with shareholder value without immediate dilution, as shares are only delivered upon vesting and subject to tax and National Insurance deductions.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £840.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has granted ordinary shares under its approved Share Incentive Plan (SIP) at a price of £7.26 per share to a group of directors, employee directors and other persons discharging managerial responsibilities. Recipients include chief executive John Hutson, finance director Ben Whitley and several employee and associate employee directors, with individual awards generally around 228 to 247 shares.
The awards, completed on 13 February 2026 in London, form part of the group’s ongoing use of equity-based incentives to align senior management and employee interests with those of shareholders. The latest SIP allocation underscores Wetherspoon’s continued emphasis on staff ownership and retention at leadership levels, a common practice in the UK corporate governance landscape to support long-term performance and engagement.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £840.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has urged the wider hospitality industry to rally behind political proposals that would dramatically cut VAT for pubs, bars and restaurants to 10%, alongside future reductions in excise duty and business rates. The company argues that aligning the tax burden on pubs with that of supermarkets would restore margins, allow significantly lower drink prices, and help reverse the long-term shift of beer sales from pubs to the off-trade.
The statement criticises the muted response from some trade bodies, analysts and large pub company leaders, contrasting their caution with previous strong grassroots support among licensees for similar VAT reforms. Wetherspoon contends that unified backing for tax equality is essential to prevent pubs from becoming occasional luxury venues rather than everyday social hubs, warning that supermarkets will continue to erode on-trade business if the sector fails to seize this political opportunity.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £8.25 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has clarified its policy on dogs in its pubs after a BBC report suggested the stance might conflict with equality law. The company says it permits assistance dogs but requires proof of training from Assistance Dogs UK, arguing this approach balances support for disabled customers with legal duties to protect staff and the public.
The pub group cites rising dog-related incidents nationally and within its own estate, including a jump in staff dog bites from one in 2020 to 15 in 2025, as justification for documentation checks. Chairman Tim Martin contends that relying on staff to judge dogs only after entry, as advised by Assistance Dogs UK, risks more incidents, and that Wetherspoon’s policy aligns with broader regulatory practices such as proof-of-age checks and blue-badge parking controls.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £8.25 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has confirmed that, as of 2 February 2026, its issued share capital comprises 110,272,365 ordinary shares of £0.02 each, all carrying voting rights, and that it holds no shares in treasury, making the total number of voting rights in the company 110,272,365. This updated share capital and voting rights figure provides the denominator that shareholders must use when calculating whether they are obliged to disclose their holdings or changes in their holdings under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, ensuring continued compliance and transparency in the company’s ownership structure.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £8.25 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has disclosed that its finance director, Ben Whitley, sold 6,931 ordinary shares in the company on 26 January 2026 on the London Stock Exchange at a price of £6.79 per share. The transaction, which prompted an amendment to an earlier regulatory announcement, has been notified in line with Market Abuse Regulation and UK disclosure rules, underscoring the company’s adherence to governance and transparency requirements for dealings by senior management.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £8.25 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has disclosed that its finance director, Ben Whitley, sold 6,931 ordinary shares in the company on 26 January 2026 on the London Stock Exchange at a price of £6.79 per share. The transaction, formally notified under market abuse and disclosure regulations, represents routine dealing by a senior executive and is being publicly reported to ensure transparency for shareholders and the wider market.
The most recent analyst rating on (GB:JDW) stock is a Buy with a £8.25 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon reported a solid rise in like-for-like sales of 4.7% for the 25 weeks to 18 January 2026, with bar and gaming machine revenues leading growth, though hotel room sales edged lower. Strong trading over Christmas and a 5.3% increase in total sales underline improving momentum, but sharply higher costs for energy, wages, repairs and business rates—up £45 million in the first 25 weeks—mean first-half profits are set to fall year-on-year and full-year performance is currently expected to come in slightly below FY25. The group continues to invest in its estate, opening six new pubs so far this year and planning 15 in total, while also expanding its franchised portfolio to 16 sites with further openings slated, including its first mainland Spain outlet at Alicante Airport; net debt is expected to tick up to £740–760 million despite ongoing share buybacks, signalling continued balance-sheet leverage alongside estate growth.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £770.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has reduced its share capital through the cancellation of 775,750 ordinary shares previously repurchased on 12–14 January 2026. Following this cancellation, the company’s issued share capital now comprises 110,272,365 ordinary shares of £0.02 each, all carrying voting rights and with no shares held in treasury, setting the new total voting rights figure that shareholders must use when assessing disclosure thresholds under UK financial transparency rules.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £770.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has repurchased 295,750 of its 2 pence ordinary shares on 14 January 2026 via Investec Bank at a price of 757 pence per share, with a volume-weighted average price matching the trade price. The company plans to cancel these shares, effectively reducing its share capital, which can be supportive of earnings per share and signals ongoing active capital management that may be viewed positively by some investors.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has reported routine share purchases by a number of its directors and senior managers under the company’s partnership shares plan, which allows employees to acquire ordinary shares through monthly salary deductions at the prevailing market price. On 14 January 2026, Global Shares Trustees (UK) Limited bought small parcels of Wetherspoon ordinary shares at 757.05 pence each on behalf of several board members and PDMRs, including the chief executive, finance director and other functional directors, reinforcing the group’s policy of encouraging equity participation among senior staff and aligning management incentives more closely with shareholder interests.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has cancelled a total of 572,000 ordinary shares that it had previously repurchased in early January 2026, reducing its issued share capital. Following the cancellation, the company’s issued share capital now comprises 111,048,115 ordinary shares of £0.02 each, all carrying voting rights and with no shares held in treasury, a figure that investors must now use as the reference point for calculating and reporting significant shareholdings under UK disclosure rules.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has repurchased 250,000 of its ordinary shares at a price of 757 pence per share via Investec Bank, and intends to cancel the shares. The transaction, conducted on the London Stock Exchange, reduces the company’s share capital and may enhance earnings per share, reflecting ongoing active capital management and potentially signalling management’s confidence in the business to investors.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has repurchased 65,000 of its 2 pence ordinary shares on 9 January 2026 at a price of 755p per share via Investec Bank, paying a volume-weighted average price of 755p on the London Stock Exchange. The company plans to cancel these shares, a move that marginally reduces its share capital and can be interpreted as a capital management decision aimed at enhancing shareholder value and signalling confidence in its balance sheet and long-term prospects.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has appointed John Herring as a non-executive director with immediate effect and named him chair of the audit committee, reinforcing the pub operator’s board-level financial oversight. Herring, a chartered accountant with a long history in corporate finance and private equity advisory work, previously served on Wetherspoon’s board between 1997 and 2011 and has held senior non-executive roles at several hospitality and investment businesses, including Hawksmoor, Eat and Ceiba Investments; his return brings deep sector and capital markets experience at a time when governance, risk management and financial discipline remain central issues for UK-listed consumer companies.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has carried out a share buyback, purchasing 507,000 ordinary shares on 7 January 2026 through Investec Bank at prices between 740p and 753p, with a volume-weighted average price of 752.82p. The company intends to cancel these shares, marginally reducing its share count and potentially enhancing earnings per share, signalling continued active capital management and confidence in its financial position to investors.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has cancelled 110,000 ordinary shares that were previously repurchased on 29 December 2025, reducing its issued share capital. Following this cancellation, the company’s issued share capital now comprises 111,620,115 ordinary shares of £0.02 each, all carrying voting rights with none held in treasury, setting the new total voting rights figure that shareholders must use when assessing disclosure thresholds under UK financial transparency rules.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has disclosed a share transaction involving a person closely associated with its operations director, Martin Geoghegan. Helena Geoghegan sold 3,000 ordinary shares in the company on 5 January 2026 on the London Stock Exchange at a price of £7.45 per share, a routine disclosure under market regulations that provides transparency around dealings by senior management and their connected persons but does not indicate any change in the company’s strategy or operations.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc has confirmed that, as of 2 January 2026, its issued share capital comprises 111,730,115 ordinary shares of £0.02 each, all carrying voting rights, and that it holds no shares in treasury, making the total number of voting rights identical to the number of shares in issue. The clarified share count provides investors with the official denominator required to assess whether their holdings in Wetherspoon trigger disclosure obligations under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, supporting regulatory compliance and transparency for shareholders.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has cancelled 90,000 ordinary shares that it had previously repurchased, reducing its issued share capital and confirming that, as of 31 December 2025, the company now has 111,730,115 ordinary shares in issue, each carrying voting rights. The company holds no shares in treasury, meaning the total number of voting rights is also 111,730,115, a figure shareholders must now use to assess whether their holdings trigger disclosure obligations under UK financial transparency rules, clarifying the ownership base and potentially affecting institutional reporting and governance oversight.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon plc, the UK pub operator, has carried out a share buyback, purchasing 110,000 of its ordinary shares on 29 December 2025 through Investec Bank at a volume‑weighted average price of 729.3810 pence per share. The company intends to cancel these shares, a move that will reduce the number of shares in issue and may enhance earnings per share and shareholder value, signalling continued active capital management by the group.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has bought back 90,000 of its ordinary shares on 23 December 2025 via Investec Bank at prices ranging between 720.50p and 729.84p, with a volume-weighted average price of 724.0203p. The company plans to cancel the repurchased shares, a move that will reduce its share count and marginally enhance earnings per share, signalling continued balance-sheet confidence and potentially supporting shareholder value in the competitive UK hospitality sector.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.
J D Wetherspoon has cancelled 100,000 ordinary shares that it had previously repurchased, reducing its issued share capital and confirming that, as of 23 December 2025, it now has 111,820,115 ordinary shares in issue, each carrying voting rights. The company holds no shares in treasury, meaning the total number of voting rights is equal to the shares in issue, a key reference figure for investors and institutions assessing whether they must disclose changes in their holdings under UK financial transparency rules.
The most recent analyst rating on (GB:JDW) stock is a Hold with a £769.00 price target. To see the full list of analyst forecasts on J D Wetherspoon stock, see the GB:JDW Stock Forecast page.