J D Wetherspoon (GB:JDW)
LSE:JDW
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J D Wetherspoon
(LSE:JDW)
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Rating:55Neutral
Price Target:
651.00 p
â–˛(5.25% Upside)
Action:Reiterated
Date: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
Improved operating and free cash flow provide durable internal funding for capex, debt servicing and opportunistic investments. Strong cash conversion lowers dependence on external markets, enabling steady reinvestment in the estate and smoothing hospitality cyclical swings over months.
Negative Factors
High leverage
A debt-to-equity around 3.29 signals material leverage that constrains financial flexibility. Elevated indebtedness raises refinancing and interest-rate risk, limits capacity for acquisitions or large capex, and increases vulnerability to demand slowdowns over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Improved operating and free cash flow provide durable internal funding for capex, debt servicing and opportunistic investments. Strong cash conversion lowers dependence on external markets, enabling steady reinvestment in the estate and smoothing hospitality cyclical swings over months.
Read all positive factors
J D Wetherspoon (JDW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
ÂŁ627.39M
Dividend Yield1.5%
Average Volume (3M)254.16K
Price to Earnings (P/E)12.0
Beta (1Y)1.12
Revenue Growth5.39%
EPS Growth-3.64%
CountryUK
Employees42,009
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.51
Shares Outstanding107,894,600
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
ÂŁ613.33Price Target Upside-0.84% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.45
Revenue Forecast (FY)ÂŁ2.22B
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
Neutral
618.50
Price Trends
601.52
Positive
654.69
Negative
662.25
Negative
Market Momentum
5.26
Negative
63.46
Neutral
90.58
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JDW, the sentiment is Neutral. The current price of 618.5 is above the 20-day moving average (MA) of 602.66, above the 50-day MA of 601.52, and below the 200-day MA of 662.25, indicating a neutral trend. The MACD of 5.26 indicates Negative momentum. The RSI at 63.46 is Neutral, neither overbought nor oversold. The STOCH value of 90.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ÂŁ348.87M | 17.87 | 4.99% | 2.81% | 6.94% | 9.13% | |
66 Neutral | £302.82M | 4.07 | 9.30% | ― | -0.52% | 68.53% | |
65 Neutral | £1.39B | 7.62 | 6.41% | ― | 2.96% | 9.30% | |
63 Neutral | ÂŁ451.74M | 17.37 | 3.55% | 3.20% | 4.61% | 186.76% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ÂŁ717.42M | 12.23 | -68.82% | 6.46% | 3.15% | -34.09% | |
55 Neutral | ÂŁ627.39M | 11.98 | 15.81% | 1.50% | 5.39% | -3.64% |
* Consumer Cyclical Sector Average
GB:JDW
J D Wetherspoon
635.50
-85.17
-11.82%
GB:DOM
Domino's Pizza
186.20
-54.95
-22.79%
GB:FSTA
Fuller Smith & Turner
674.00
68.24
11.27%
GB:MARS
Marston's
48.00
6.65
16.08%
GB:MAB
Mitchells & Butlers
235.00
-52.50
-18.26%
GB:YNGA
Young & Co'S Brewery
795.00
-164.40
-17.14%
J D Wetherspoon Corporate Events
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 84,000 Shares at 619p
Positive
May 29, 2026
J D Wetherspoon has bought back 84,000 of its ordinary shares at a price of 619 pence each in a market transaction conducted through Investec Bank. The company plans to cancel these repurchased shares, which will reduce the total number of shares ...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 42,021 Shares
Positive
May 28, 2026
J D Wetherspoon has repurchased 42,021 of its ordinary shares at a price of 630 pence per share via Investec Bank on 27 May 2026. The company plans to cancel these shares, effectively reducing its share capital and slightly increasing the ownershi...
Stock BuybackRegulatory Filings and Compliance
J D Wetherspoon Updates Market on Share Capital and Voting Rights
Neutral
May 27, 2026
J D Wetherspoon plc has updated the market on its total voting rights following the cancellation of 42,000 ordinary shares that were previously repurchased. The cancellations covered shares bought on 18, 19 and 20 May 2026, which had already been ...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Share Capital After Cancelling Repurchased Shares
Neutral
May 27, 2026
J D Wetherspoon plc has cancelled a total of 42,000 ordinary shares that it had previously repurchased on 18, 19 and 20 May 2026 and subsequently reported to the market. Following this cancellation, the company’s issued share capital now com...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 45,000 Shares After Market Buyback
Positive
May 27, 2026
J D Wetherspoon plc has repurchased 45,000 of its ordinary shares at a price of 614.17 pence per share in a market transaction executed via Investec Bank on 26 May 2026. The company plans to cancel these shares, which will reduce the number of sha...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 16,000 Shares
Positive
May 21, 2026
J D Wetherspoon plc has repurchased 16,000 of its ordinary shares at a price of 597.74 pence each, in a transaction executed on 20 May 2026 through Investec Bank on the London Stock Exchange. The company plans to cancel these shares, effectively r...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Cuts Share Count After Cancelling Nearly 600,000 Repurchased Shares
Positive
May 20, 2026
J D Wetherspoon plc has cancelled 598,759 ordinary shares that it had previously repurchased on the market earlier in May, as part of its ongoing capital management. Following the cancellations, the company’s issued share capital now compris...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 10,000 Shares After Targeted Buyback
Positive
May 20, 2026
J D Wetherspoon plc has repurchased 10,000 of its ordinary shares at a price of 595 pence per share, executed via Investec Bank on 19 May 2026 on the London Stock Exchange. The company intends to cancel these shares, effectively reducing its share...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 16,000 Shares After Targeted Buyback
Positive
May 19, 2026
J D Wetherspoon has bought back 16,000 of its ordinary shares at a price of 595 pence each, executing the transaction through Investec Bank on 18 May 2026. The company plans to cancel these shares, slightly reducing its share count and potentially...
Business Operations and StrategyStock Buyback
Wetherspoon Buys Back and Cancels 100,000 Shares at 590p
Positive
May 18, 2026
J D Wetherspoon plc has bought back 100,000 of its ordinary shares at a price of 590 pence each via Investec Bank, paying a volume-weighted average price of 590 pence on 15 May 2026. The company plans to cancel these shares, effectively reducing i...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 31,000 Shares
Positive
May 15, 2026
J D Wetherspoon plc has repurchased 31,000 of its ordinary shares at a price of 605 pence per share, via Investec Bank on 14 May 2026. The company intends to cancel these shares, modestly reducing its share count and potentially enhancing earnings...
Business Operations and Strategy
J D Wetherspoon Directors Increase Holdings Through Share Partnership Plan
Positive
May 14, 2026
J D Wetherspoon has disclosed a series of small share purchases by its directors and senior managers under the company’s partnership share plan. Through Global Shares Trustees (UK) Limited, several board members, including the chief executiv...
Business Operations and StrategyStock Buyback
J D Wetherspoon Cancels 191,000 Shares After Latest Buyback
Positive
May 14, 2026
J D Wetherspoon plc has bought back 191,000 of its ordinary shares on 13 May 2026 via Investec Bank, paying a volume-weighted average price of 597.7033 pence within a trading range of 589.24 to 599.42 pence. The company plans to cancel these share...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Cuts Share Count After Cancelling 1.0 Million Repurchased Shares
Neutral
May 13, 2026
J D Wetherspoon plc has cancelled 1,026,000 ordinary shares that it previously repurchased on 6, 7 and 8 May 2026, as part of its capital management activities. Following this cancellation, the company’s issued share capital now comprises 10...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 135,000 Shares
Positive
May 13, 2026
J D Wetherspoon has repurchased 135,000 of its ordinary shares at prices between 590p and 598.82p, with a volume-weighted average price of 596.0427p, in a transaction executed through Investec Bank on 12 May 2026. The company plans to cancel these...
Business Operations and StrategyStock Buyback
Wetherspoon Buys Back and Cancels 141,759 Shares
Positive
May 12, 2026
J D Wetherspoon has executed a share buyback, repurchasing 141,759 ordinary shares on 11 May 2026 at a volume-weighted average price of about 599.83 pence. The trades were carried out via Investec Bank on the London Stock Exchange, with prices ran...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 82,000 Shares
Positive
May 11, 2026
J D Wetherspoon has repurchased 82,000 of its 2 pence ordinary shares on 8 May 2026 through Investec Bank, at prices ranging between 594.19p and 600.00p per share. The volume-weighted average price for the transaction on the London Stock Exchange ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Wetherspoon Buys Back and Cancels 174,000 Shares in Capital Management Move
Positive
May 8, 2026
J D Wetherspoon has repurchased 174,000 of its ordinary shares on 7 May 2026 via Investec Bank, paying a volume-weighted average price of about 599.3 pence within a 598 to 600 pence trading range. The company plans to cancel the bought-back shares...
Stock Buyback
Wetherspoon Buys Back and Cancels 770,000 Shares
Positive
May 7, 2026
J D Wetherspoon has repurchased 770,000 ordinary shares at a volume-weighted average price of 593.47 pence per share, with prices ranging between 585.19 pence and 599.14 pence. The buyback, executed through Investec Bank on the London Stock Exchan...
Business Operations and Strategy
Wetherspoon Rejects Call for Two-Drink Limit in Airport Pubs
Neutral
May 6, 2026
J D Wetherspoon has publicly rejected Michael O’Leary’s proposal for a two-drink limit for passengers in airport hospitality venues, arguing that such a rule would be difficult to manage and perceived as an overbearing restriction by c...
Business Operations and StrategyStock BuybackFinancial Disclosures
Wetherspoon Posts Solid Sales Growth but Warns Rising Costs May Hit Profits
Negative
May 6, 2026
J D Wetherspoon reported like-for-like sales growth of 3.4% for the 13 weeks to 26 April 2026 and 4.3% year to date, with total sales up 4.1% in the quarter and 4.9% year to date, while maintaining a near-flat estate of managed pubs alongside grow...
Regulatory Filings and Compliance
J D Wetherspoon Confirms Updated Share Capital and Voting Rights
Neutral
May 1, 2026
J D Wetherspoon has confirmed that, as of 1 May 2026, its issued share capital comprises 109,197,361 ordinary shares with a nominal value of £0.02 each, all carrying voting rights. The company holds no shares in treasury, so the total number ...
Business Operations and StrategyRegulatory Filings and Compliance
Wetherspoon Directors Increase Stakes Through Employee Share Plan
Positive
Apr 15, 2026
J D Wetherspoon has disclosed a series of routine share purchases by its directors and other persons discharging managerial responsibilities under the company’s partnership share plan. Through Global Shares Trustees (UK) Limited, board membe...
Business Operations and Strategy
Wetherspoon Rebuffs Report It May Scrap Ordering App
Positive
Apr 9, 2026
J D Wetherspoon has issued a correction after a Sun newspaper article claimed chairman Tim Martin had criticised QR code and app ordering and might phase out the technology. The company clarified that Martin’s comments were made in jest in r...
Stock BuybackRegulatory Filings and Compliance
J D Wetherspoon Updates Share Capital After Cancelling Repurchased Shares
Neutral
Apr 8, 2026
J D Wetherspoon has reduced its share capital by cancelling 216,000 ordinary shares that were previously repurchased on 30 and 31 March 2026 and disclosed to the market. Following the cancellation, the company’s issued share capital stands a...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Cancels 683,148 Shares, Updates Voting Rights
Positive
Apr 2, 2026
J D Wetherspoon has cancelled a total of 683,148 ordinary shares that it had previously repurchased on various dates in late March 2026. Following this cancellation, the company’s issued share capital now comprises 109,413,361 ordinary share...
Regulatory Filings and Compliance
J D Wetherspoon Updates Total Voting Rights and Share Capital
Neutral
Apr 1, 2026
J D Wetherspoon has reported that, as of 31 March 2026, its issued share capital consists of 110,096,509 ordinary shares with a nominal value of £0.02 each, all carrying voting rights. The company holds no shares in treasury, so the total num...
Stock Buyback
J D Wetherspoon Cancels 85,000 Shares After Targeted Buyback
Positive
Apr 1, 2026
J D Wetherspoon has bought back 85,000 of its ordinary shares at a price of 569.70 pence per share in a transaction executed on 31 March 2026 through Investec Bank on the London Stock Exchange. The company intends to cancel these shares, effective...
Business Operations and StrategyStock Buyback
Wetherspoon Buys Back and Cancels 131,000 Shares in Capital Move
Positive
Mar 31, 2026
J D Wetherspoon has repurchased 131,000 of its 2 pence ordinary shares on 30 March 2026 via Investec Bank at a volume-weighted average price of 574.1412 pence, within a trading range of 573.50 to 575.00 pence. The company plans to cancel these sha...
Stock Buyback
J D Wetherspoon Buys Back and Cancels 105,000 Shares
Positive
Mar 30, 2026
J D Wetherspoon has continued its capital management programme by buying back 105,000 ordinary shares on 27 March 2026, at prices between 574.50p and 575.00p, for a volume-weighted average price of 574.7619p. The company plans to cancel these shar...
Business Operations and StrategyStock Buyback
J D Wetherspoon Buys Back and Cancels 100,000 Shares
Positive
Mar 27, 2026
J D Wetherspoon has repurchased 100,000 of its ordinary shares on 26 March 2026 via Investec Bank at prices between 589p and 599p, with a volume-weighted average price of 593.6229p. The company plans to cancel these shares, reducing its share capi...
Stock Buyback
J D Wetherspoon Buys Back and Cancels 278,148 Shares
Positive
Mar 26, 2026
J D Wetherspoon plc has repurchased 278,148 of its ordinary shares at a price of 597 pence per share, in a transaction executed on 25 March 2026 through Investec Bank plc on the London Stock Exchange. The company intends to cancel these shares, wh...
Stock BuybackRegulatory Filings and Compliance
Wetherspoon Updates Market on Share Capital and Voting Rights
Neutral
Mar 25, 2026
J D Wetherspoon has updated the market on its total voting rights following the cancellation of 175,856 ordinary shares it had previously repurchased. The company’s issued share capital now stands at 110,096,509 ordinary shares, all carrying...
Executive/Board Changes
Wetherspoon Details Senior Managers’ Share Incentive Plan Vesting
Neutral
Mar 25, 2026
J D Wetherspoon has reported the vesting of an unapproved Share Incentive Plan award granted in March 2023, resulting in the purchase and transfer of shares at £5.68 each, net of tax and National Insurance, to several senior managers’ v...
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...
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.