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Raspberry PI Holdings plc (GB:RPI)
LSE:RPI

Raspberry PI Holdings plc (RPI) AI Stock Analysis

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GB:RPI

Raspberry PI Holdings plc

(LSE:RPI)

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Neutral 61 (OpenAI - 5.2)
Rating:61Neutral
Price Target:
275.00 p
▼(-7.84% Downside)
Action:ReiteratedDate:01/07/26
The score is primarily supported by strong revenue growth and a solid balance sheet, but is held back by recent margin deterioration and negative free cash flow. Technicals are neutral-to-weak (below key longer-term moving averages with a negative MACD), and the high P/E without dividend support further pressures the overall rating.
Positive Factors
Consistent revenue growth
Sustained revenue growth indicates expanding product adoption across education, hobbyist and IoT markets. Over the medium term this supports scale economies, stronger distributor relationships and recurring demand that can fund R&D and product roadmap execution, bolstering durable competitiveness.
Strong balance sheet and low leverage
Low financial leverage and rising equity provide long-term financial flexibility to fund capex, weather demand cycles, and pursue strategic investments or partnerships without immediate financing stress, improving resilience and enabling multi-year product and market expansion plans.
Stable gross profit margin
Stable gross margins imply durable supplier and manufacturing cost control, protecting core product profitability even as revenues scale. This structural cost discipline supports sustained cash generation potential and provides room to invest in software, ecosystem services, or education initiatives over time.
Negative Factors
Declining operating margins (EBIT/EBITDA)
Falling EBIT/EBITDA margins point to higher operating costs or diminishing operational efficiency. If persistent, this can erode operating leverage from revenue growth, limit reinvestment capacity, and pressure profitability metrics used to fund long-term initiatives and R&D investment decisions.
Negative free cash flow in latest year
A negative FCF outcome driven by elevated capex reduces internal funding for operations and strategic projects. Over months this can necessitate external financing or slower investment, constraining the company’s ability to scale manufacturing, expand channels, or support ecosystem initiatives without higher financing costs.
Rising total liabilities need monitoring
An increase in liabilities, even with strong equity, raises medium-term liquidity and covenant risks if operating cash conversion weakens. Continued liability growth could restrict strategic flexibility, increase interest exposure, or force tougher capital allocation choices during slower revenue periods.

Raspberry PI Holdings plc (RPI) vs. iShares MSCI United Kingdom ETF (EWC)

Raspberry PI Holdings plc Business Overview & Revenue Model

Company DescriptionRaspberry Pi Holdings plc designs and develops single board computers and compute modules worldwide. It offers computers and microcontrollers, cameras and displays, add-on boards, power supplies and cables, cases, and peripherals, as well as semiconductor and custom products. The company also provides Raspberry Pi Desktop for PC and Mac; Raspberry Pi Connect, a screen sharing solution that allows to connect Raspberry Pi desktop directly from various browser; and Raspberry Pi Imager and OS software products. In addition, it operates Raspberry Pi Press for publishing magazines and books; and Raspberry Pi store, a retail space. The company offers its products to industrial Internet of Things customers and embedded uses; original equipment manufacturers; and educators and enthusiasts. The company was incorporated in 2012 and is based in Cambridge, the United Kingdom.
How the Company Makes MoneyRaspberry PI Holdings generates revenue through several key streams. The primary source of income is the sale of Raspberry Pi hardware, including various models of microcomputers and accessories such as power supplies, cases, and additional components. The company also earns revenue through the licensing of its technology and software solutions, as well as through partnerships with educational institutions and organizations that utilize Raspberry Pi products in their curricula. Furthermore, RPI benefits from a growing ecosystem of third-party developers who create and sell additional products and services compatible with Raspberry Pi, contributing to the overall revenue through collaborative initiatives and joint ventures. The focus on low-cost solutions allows RPI to penetrate various markets, expanding its customer base and driving sales volume.

Raspberry PI Holdings plc Financial Statement Overview

Summary
Strong overall financial profile supported by robust revenue growth and a healthy balance sheet (low leverage and rising equity). Offsetting this, profitability is weakening (declining EBIT/EBITDA margins) and the latest year shows negative free cash flow from elevated capex and a softer operating cash flow conversion.
Income Statement
75
Positive
Raspberry PI Holdings has shown robust revenue growth over the past years, with a significant increase in total revenue from previous periods. The gross profit margin has remained stable, reflecting strong cost management. However, there is a noticeable decline in EBIT margin and EBITDA margin in the latest year, indicating rising operational costs or lower efficiency.
Balance Sheet
80
Positive
The balance sheet is strong with a healthy debt-to-equity ratio, suggesting low financial leverage. The company has maintained a solid equity ratio, indicating a strong capital structure. There is a consistent increase in stockholders' equity, showcasing a stable financial position. However, the rise in total liabilities over the years needs monitoring.
Cash Flow
65
Positive
The cash flow statement reveals some challenges, with negative free cash flow in the latest year due to high capital expenditures. The operating cash flow to net income ratio has declined, which might impact liquidity if not addressed. Despite this, the company has historically managed positive operating cash flows, indicating potential for recovery.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue191.28M259.50M213.83M152.51M102.22M73.07M
Gross Profit43.15M63.20M48.11M30.14M27.71M22.24M
EBITDA19.75M29.40M36.36M20.67M16.43M14.23M
Net Income7.23M9.16M25.42M13.86M10.80M12.57M
Balance Sheet
Total Assets237.51M331.40M208.15M122.54M93.61M45.04M
Cash, Cash Equivalents and Short-Term Investments24.99M45.80M33.10M27.30M25.42M771.47K
Total Debt4.37M7.32M5.57M1.35M1.73M1.73M
Total Liabilities78.10M121.00M83.26M33.46M23.08M16.81M
Stockholders Equity159.41M210.40M124.89M89.08M70.52M28.24M
Cash Flow
Free Cash Flow12.73M-26.30M13.49M2.83M-5.17M6.72M
Operating Cash Flow13.94M-3.20M16.55M11.55M200.68K8.04M
Investing Cash Flow-20.04M-23.10M-23.10M-8.72M-5.37M-10.11M
Financing Cash Flow-2.99M29.80M15.84M-4.38M29.44M-3.23M

Raspberry PI Holdings plc Technical Analysis

Technical Analysis Sentiment
Negative
Last Price298.40
Price Trends
50DMA
309.26
Negative
100DMA
322.16
Negative
200DMA
377.98
Negative
Market Momentum
MACD
1.70
Positive
RSI
41.61
Neutral
STOCH
4.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:RPI, the sentiment is Negative. The current price of 298.4 is below the 20-day moving average (MA) of 349.88, below the 50-day MA of 309.26, and below the 200-day MA of 377.98, indicating a bearish trend. The MACD of 1.70 indicates Positive momentum. The RSI at 41.61 is Neutral, neither overbought nor oversold. The STOCH value of 4.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:RPI.

Raspberry PI Holdings plc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
£552.70M10.738.49%2.09%0.49%61.73%
74
Outperform
£128.34M11.0625.90%2.00%8.19%
70
Neutral
£80.52M12.039.34%7.36%31.93%
68
Neutral
£92.19M8.133.91%1.56%8.75%-54.73%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
61
Neutral
£577.87M114.734.60%
54
Neutral
£205.84M-4.83-31.42%-16.33%-448.12%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:RPI
Raspberry PI Holdings plc
298.40
-290.10
-49.29%
GB:QTX
Quartix Holdings
265.00
73.81
38.61%
GB:SDI
SDI Group
77.00
20.50
36.28%
GB:SOLI
Solid State
162.50
-36.70
-18.42%
GB:TTG
TT Electronics
115.60
36.00
45.23%
GB:DSCV
discoverIE Group plc
575.00
47.62
9.03%

Raspberry PI Holdings plc Corporate Events

Other
Raspberry Pi CEO Eben Upton Increases Shareholding with Fresh Market Purchase
Positive
Feb 4, 2026

Raspberry Pi Holdings plc announced that its Chief Executive Officer, Eben Upton, has increased his stake in the company through the purchase of 15,314 ordinary shares on the London Stock Exchange’s Main Market, at prices between 258 and 262 pence, bringing his total shareholding to 2,563,791 shares. The CEO’s share purchase signals continued executive confidence in the company’s prospects and may be viewed positively by investors, underscoring management’s alignment with shareholder interests as Raspberry Pi continues to build its position in the global low-cost computing and semiconductor markets.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £263.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Regulatory Filings and Compliance
Raspberry Pi Confirms Total Voting Rights and Share Capital as of 31 January 2026
Neutral
Feb 2, 2026

Raspberry Pi Holdings plc announced that as of 31 January 2026 its issued share capital comprises 193,656,861 ordinary shares, each carrying voting rights, with no shares held in treasury. This updated share count provides investors with the reference figure needed to assess and report any notifiable shareholdings or changes in their ownership under UK transparency rules, underpinning ongoing regulatory compliance and clarity over the company’s ownership structure.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £257.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Business Operations and Strategy
Raspberry Pi CEO Eben Upton Increases Shareholding with Market Purchase
Positive
Jan 30, 2026

Raspberry Pi Holdings plc announced that Chief Executive Officer Eben Upton has increased his stake in the company through an on-market purchase of 7,341 ordinary shares on 29 January 2026 at a price of 271 pence per share, bringing his total shareholding to 2,548,477 shares. The CEO’s additional investment underscores management’s alignment with shareholders and may be interpreted by the market as a vote of confidence in the company’s prospects and ongoing strategy in the competitive low-cost computing segment.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £257.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Raspberry Pi Updates Market on Long-Term Incentive Plan Share Allotments
Neutral
Jan 30, 2026

Raspberry Pi Holdings plc has reported its latest six‑monthly block listing return for its Long Term Incentive Plan, showing that 241,146 shares were issued or allotted under the scheme between 30 July 2025 and 30 January 2026, leaving 13,338,946 securities still available for future issuance. The update underscores the company’s ongoing use of share-based incentives to reward and retain staff, which may lead to future dilution but aligns employee interests with long-term shareholder value as Raspberry Pi scales its operations across its core industrial, enthusiast, education and semiconductor markets.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £266.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Raspberry Pi Expands Edge AI Offering With Launch of AI HAT+ 2 for Generative Workloads
Positive
Jan 15, 2026

Raspberry Pi Holdings has launched the Raspberry Pi AI HAT+ 2, an add-on board for the Raspberry Pi 5 that significantly expands its on-device artificial intelligence capabilities. Built around the Hailo-10H neural network accelerator and equipped with 8GB of dedicated DRAM, the new board supports larger models and enables acceleration of generative AI workloads, including large language and vision-language models, directly at the edge. The product, which maintains strong computer vision performance and seamless integration with Raspberry Pi’s camera and software stack, is aimed at applications such as security, premises management and process control where low cost, data privacy, resilience and independence from cloud-based AI services are critical. Management cites strong demand for the first-generation AI HAT+ and positions this higher-performance successor as a response to continuing customer interest in true edge AI, potentially opening new revenue streams and reinforcing Raspberry Pi’s role in accessible, on-device AI computing.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £409.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Other
Raspberry Pi CEO Eben Upton Increases Stake with Share Purchase
Positive
Jan 14, 2026

Raspberry Pi Holdings plc announced that its Chief Executive Officer, Eben Upton, has increased his stake in the company through the purchase of 21,927 ordinary shares on 13 January 2026 on the London Stock Exchange’s Main Market, at a price of 271.44 pence per share, bringing his total shareholding to 2,541,136 shares. The transaction, valued at approximately £59,520, signals continued executive alignment with shareholder interests and may be interpreted by investors as a vote of confidence in the company’s long-term strategy and market position in low-cost, high-performance computing solutions.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £409.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Raspberry Pi Beats 2025 Profit Expectations but Warns on DRAM-Driven Uncertainty for 2026
Positive
Jan 13, 2026

Raspberry Pi Holdings expects adjusted EBITDA for 2025 to be at least $45m, more than 20% higher than 2024 and ahead of market forecasts, on full-year shipments of 7.6 million units and strong second-half margins, leaving the group with $28m of net cash after reducing extended supplier payables. Entering 2026, the company sees robust OEM and reseller demand, a strong new-product pipeline and substantial inventory buffers, but it also faces uncertainty over sharply rising and constrained LPDDR4 DRAM supply, prompting mitigation measures such as qualifying new suppliers, launching lower-memory variants and raising prices, with management confident of higher shipments and in-line profitability in the first half of 2026 while cautioning that second-half performance will depend heavily on memory-market dynamics and customer response to any further price increases.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £409.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Regulatory Filings and Compliance
Raspberry Pi Confirms Year-End Share Capital and Voting Rights
Neutral
Jan 8, 2026

Raspberry Pi Holdings plc has confirmed that as of 31 December 2025 its issued share capital comprised 193,582,149 ordinary shares of £0.0025 each, all carrying voting rights, with no shares held in treasury. This updated share count provides the reference denominator for investors assessing whether they must disclose holdings or changes in their stake under the UK’s Disclosure Guidance and Transparency Rules, reinforcing transparency around the company’s ownership structure and regulatory compliance for shareholders.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £332.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Regulatory Filings and Compliance
Raspberry Pi Confirms Year-End Share Capital and Voting Rights
Neutral
Jan 8, 2026

Raspberry Pi Holdings plc has confirmed that as of 31 December 2025 its issued share capital comprised 193,582,149 ordinary shares of £0.0025 each, all carrying voting rights, with no shares held in treasury. This updated share count provides the reference denominator for investors assessing whether they must disclose holdings or changes in their stake under the UK’s Disclosure Guidance and Transparency Rules, reinforcing transparency around the company’s ownership structure and regulatory compliance for shareholders.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £332.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Regulatory Filings and Compliance
Raspberry Pi Holdings Announces Total Voting Rights Update
Neutral
Dec 4, 2025

Raspberry Pi Holdings plc announced its total voting rights as of November 30, 2025, with an issued share capital consisting of 193,535,381 ordinary shares, each carrying voting rights. This information is crucial for shareholders to determine their notification obligations under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, impacting how they manage their interests in the company’s share capital.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £317.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Other
Raspberry Pi CEO Increases Shareholding, Signaling Confidence in Company’s Future
Positive
Dec 1, 2025

Raspberry Pi Holdings plc announced that its CEO, Eben Upton, has purchased additional shares in the company, increasing his total shareholding to 2,519,209. This transaction, conducted on the London Stock Exchange, underscores the CEO’s confidence in the company’s future prospects and may positively influence stakeholder perception and market positioning.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £317.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Other
Raspberry Pi Director’s Share Transaction Reflects Internal Financial Moves
Neutral
Nov 25, 2025

Raspberry Pi Holdings plc announced a transaction involving David Gammon, an Independent Non-Executive Director, who sold and purchased 12,000 ordinary shares into his Self-Invested Personal Pension (SIPP). This transaction, conducted on the London Stock Exchange, reflects internal financial management and may influence investor perceptions of the company’s governance and director confidence.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £317.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Executive/Board ChangesFinancial Disclosures
Raspberry Pi Director’s Share Transaction Update
Neutral
Nov 25, 2025

Raspberry Pi Holdings plc announced a transaction involving David Gammon, an Independent Non-Executive Director, who sold and purchased 12,000 ordinary shares into his SIPP. This transaction, conducted on the London Stock Exchange, reflects internal financial activities and may impact stakeholder perceptions of the company’s governance and financial strategies.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £317.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Regulatory Filings and Compliance
Raspberry Pi Updates CEO Share Purchase Details
Neutral
Nov 20, 2025

Raspberry Pi Holdings plc announced a correction to a previous share purchase notification involving CEO Eben Upton. The corrected figures show Upton purchased 6,036 shares, resulting in a total holding of 2,513,004 shares. This update does not affect other details and highlights the company’s commitment to transparency and accurate reporting.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £317.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Business Operations and Strategy
Raspberry Pi CEO Increases Shareholding, Signaling Confidence in Company’s Future
Positive
Nov 19, 2025

Raspberry Pi Holdings plc announced that its CEO, Eben Upton, has purchased additional ordinary shares in the company, increasing his shareholding to 2,519,040 shares. This transaction reflects confidence in the company’s future prospects and may positively influence stakeholder perception, reinforcing Raspberry Pi’s strong position in the computing industry.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £359.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

Other
Raspberry Pi CEO Increases Stake with Share Purchase
Positive
Nov 6, 2025

Raspberry Pi Holdings plc announced that its CEO, Eben Upton, has purchased 5,832 ordinary shares of the company, increasing his total shareholding to 2,506,968 shares. This transaction, conducted on the London Stock Exchange, signifies confidence in the company’s future prospects and may positively impact stakeholder perceptions, reinforcing the company’s position in the competitive computing market.

The most recent analyst rating on (GB:RPI) stock is a Hold with a £359.00 price target. To see the full list of analyst forecasts on Raspberry PI Holdings plc stock, see the GB:RPI Stock Forecast page.

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.Date of analysis: Jan 07, 2026