J D Wetherspoon (GB:JDW)
LSE:JDW
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J D Wetherspoon
(LSE:JDW)
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Select Model
Rating:55Neutral
Price Target:
569.00 p
â–¼(-8.00% Downside)
Action:ReiteratedDate:03/21/26
The score is driven by stabilizing fundamentals and strong cash flow (supportive), tempered by high leverage and a notably weak technical setup with the stock trading below major moving averages and negative momentum. Valuation is reasonable but not compelling enough to outweigh the current downtrend and balance-sheet risk.
Positive Factors
Cash generation
Sustained improvement in operating and free cash flow strengthens JDW's ability to fund operations, service debt and invest in maintenance or selective expansion without relying on equity raises. Reliable cash conversion supports financial flexibility over the medium term.
Negative Factors
High leverage
Elevated leverage constrains strategic flexibility: higher interest costs and refinancing risk reduce resilience to downturns or higher rates. High debt levels limit free cash flow available for investment or distributions and raise default risk under stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained improvement in operating and free cash flow strengthens JDW's ability to fund operations, service debt and invest in maintenance or selective expansion without relying on equity raises. Reliable cash conversion supports financial flexibility over the medium term.
Read all positive factors
J D Wetherspoon (JDW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£590.70M
Dividend Yield1.5%
Average Volume (3M)254.16K
Price to Earnings (P/E)9.0
Beta (1Y)1.08
Revenue Growth4.52%
EPS Growth50.39%
CountryUK
Employees42,009
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.14
Shares Outstanding109,718,360
10 Day Avg. Volume239,510
30 Day Avg. Volume254,162
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)2.52
Price to Sales (P/S)0.43
P/FCF Ratio9.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£711.25Price Target Upside15.00% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.49
Revenue Forecast (FY)£2.22B
J D Wetherspoon Business Overview & Revenue Model
Company Description
J D Wetherspoon (JDW) is a British pub chain founded in 1979, known for its cost-effective food and drink offerings. The company operates a large number of pubs and hotels across the United Kingdom and Ireland, focusing on providing a casual dinin...
How the Company Makes Money
JDW primarily makes money by selling food and beverages directly to customers in its company-operated pubs, generating revenue from on-premise consumption (and where permitted, certain off-premise sales) of items such as draught and packaged alcoh...
J D Wetherspoon Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
55
Neutral
Cash Flow
70
Positive
| 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
Negative
618.50
Price Trends
684.07
Negative
690.84
Negative
696.57
Negative
Market Momentum
-34.46
Positive
31.72
Neutral
36.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JDW, the sentiment is Negative. The current price of 618.5 is below the 20-day moving average (MA) of 638.93, below the 50-day MA of 684.07, and below the 200-day MA of 696.57, indicating a bearish trend. The MACD of -34.46 indicates Positive momentum. The RSI at 31.72 is Neutral, neither overbought nor oversold. The STOCH value of 36.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:JDW.
J D Wetherspoon Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £346.25M | 5.12 | 4.99% | 2.81% | 6.94% | 9.99% | |
67 Neutral | £427.35M | 5.72 | 1.48% | 3.20% | 12.91% | -13.62% | |
66 Neutral | £328.43M | 3.47 | 9.91% | ― | -0.08% | ― | |
66 Neutral | £1.51B | 8.30 | 6.46% | ― | 3.87% | 18.31% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | £651.79M | 11.48 | -68.82% | 6.46% | -0.67% | 2.43% | |
55 Neutral | £590.70M | 8.99 | 18.03% | 1.50% | 4.52% | 50.39% |
* Consumer Cyclical Sector Average
GB:JDW
J D Wetherspoon
574.50
31.55
5.81%
GB:DOM
Domino's Pizza
170.80
-100.46
-37.03%
GB:FSTA
Fuller Smith & Turner
650.00
139.07
27.22%
GB:MARS
Marston's
51.90
17.75
51.98%
GB:MAB
Mitchells & Butlers
255.00
44.00
20.85%
GB:YNGA
Young & Co'S Brewery
740.00
16.80
2.32%
J D Wetherspoon Corporate Events
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 200,000 Shares
Positive
Mar 24, 2026
J D Wetherspoon has repurchased 200,000 of its ordinary shares on 23 March 2026 via Investec Bank, paying a volume-weighted average price of 546.125 pence within a trading range of 540 to 550 pence. The company plans to cancel these shares, effect...
Business Operations and StrategyStock Buyback
Wetherspoon Buys Back and Cancels 175,856 Shares in Capital Move
Positive
Mar 23, 2026
J D Wetherspoon has bought back 175,856 of its ordinary shares on 20 March 2026, at prices between 541.66p and 555.00p, with a volume-weighted average of 546.4595p. The repurchased shares, acquired via Investec Bank on the London Stock Exchange, a...
Business Operations and StrategyFinancial Disclosures
Wetherspoon Grows Sales but Profit Hit by Rising Costs and Tax Burden
Negative
Mar 20, 2026
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 3...
Business Operations and Strategy
Wetherspoon Urges Simple Tax Fix for U.K. Pubs, Rejects Profit-Based Business Rates
Positive
Mar 17, 2026
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 pu...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon Directors Add Shares Under Employee Partnership Plan
Positive
Mar 13, 2026
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 Trustee...
Other
Wetherspoon Directors Add Shares Through Employee Partnership Scheme
Neutral
Feb 20, 2026
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 va...
Business Operations and StrategyExecutive/Board Changes
Wetherspoon grants senior staff new share awards under incentive plan
Positive
Feb 13, 2026
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 y...
Business Operations and StrategyExecutive/Board Changes
J D Wetherspoon awards shares to directors and senior managers under incentive plan
Positive
Feb 13, 2026
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 ...
Business Operations and Strategy
Wetherspoon Urges Pub Sector to Back Radical Tax Cut Plan
Positive
Feb 9, 2026
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 t...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon Defends Assistance-Dog Documentation Policy Amid Safety Concerns
Neutral
Feb 9, 2026
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...
Regulatory Filings and Compliance
J D Wetherspoon Confirms Updated Share Capital and Voting Rights
Neutral
Feb 2, 2026
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 votin...
Regulatory Filings and Compliance
Wetherspoon Finance Director Sells Shares in Regulatory Disclosure
Neutral
Jan 27, 2026
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...
Regulatory Filings and Compliance
Wetherspoon Finance Director Sells 6,931 Shares on London Stock Exchange
Neutral
Jan 27, 2026
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...
Business Operations and StrategyStock BuybackFinancial Disclosures
Wetherspoon Sales Rise but Higher Costs Weigh on Profit Outlook
Negative
Jan 21, 2026
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 i...
Stock BuybackRegulatory Filings and Compliance
J D Wetherspoon Updates Total Voting Rights After Share Cancellations
Neutral
Jan 20, 2026
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 110,272,3...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 295,750 Shares
Positive
Jan 15, 2026
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 sha...
Business Operations and Strategy
Wetherspoon Directors Add Shares Under Employee Partnership Plan
Positive
Jan 14, 2026
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 pre...
Stock BuybackRegulatory Filings and Compliance
J D Wetherspoon Cuts Share Capital After Cancelling 572,000 Repurchased Shares
Neutral
Jan 13, 2026
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 111,04...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 250,000 Shares
Positive
Jan 13, 2026
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 ca...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 65,000 Shares at 755p
Positive
Jan 12, 2026
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 ...
Executive/Board Changes
Wetherspoon Brings Back Veteran Adviser John Herring as Non-Executive Director and Audit Chair
Positive
Jan 12, 2026
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 l...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 507,000 Shares
Positive
Jan 8, 2026
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 share...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Total Voting Rights After Share Cancellation
Neutral
Jan 6, 2026
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 ordi...
Regulatory Filings and Compliance
J D Wetherspoon Discloses Share Sale by Director’s Connected Person
Neutral
Jan 6, 2026
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 a...
Regulatory Filings and Compliance
J D Wetherspoon Confirms Total Voting Rights at 111.7 Million Shares
Neutral
Jan 2, 2026
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...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Confirms Share Capital Reduction and Updated Voting Rights
Neutral
Dec 31, 2025
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 ...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 110,000 Shares
Positive
Dec 30, 2025
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 intend...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 90,000 Shares
Positive
Dec 24, 2025
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 share...
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.