Raspberry PI Holdings plc (GB:RPI)
LSE:RPI
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Raspberry PI Holdings plc
(LSE:RPI)
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Rating:70Outperform
Price Target:
628.00 p
â–²(12.85% Upside)
Action:ReiteratedDate:04/18/26
The score is driven primarily by solid fundamentals—strong growth and a low-leverage balance sheet—offset by uneven earnings and especially volatile cash flow. Technically, momentum is strong but extremely overbought signals and high beta raise near-term downside/volatility risk. Valuation (P/E ~19.4) is reasonable but not meaningfully supportive without a dividend and with cash-flow inconsistency.
Positive Factors
Strong revenue growth
Sustained ~28% revenue growth year-over-year indicates durable end-market demand and scalable product adoption. Persistent top-line expansion supports reinvestment in R&D, distribution scale and product development, strengthening long-term competitive position and commercial traction.
Negative Factors
Volatile cash generation and weak FCF recovery
Large swings in operating and free cash flow undermine predictability of internal funding for capex, inventory and R&D. Even with a 2025 recovery, FCF remains well below previous highs, increasing reliance on careful working-capital management and potentially external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained ~28% revenue growth year-over-year indicates durable end-market demand and scalable product adoption. Persistent top-line expansion supports reinvestment in R&D, distribution scale and product development, strengthening long-term competitive position and commercial traction.
Read all positive factors
Raspberry PI Holdings plc (RPI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.34B
Dividend YieldN/A
Average Volume (3M)570.17K
Price to Earnings (P/E)19.4
Beta (1Y)2.66
Revenue Growth20.33%
EPS Growth77.68%
CountryUK
Employees134
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.06
Shares Outstanding193,712,920
10 Day Avg. Volume451,934
30 Day Avg. Volume570,173
Financial Highlights & Ratios
PEG Ratio1.12
Price to Book (P/B)3.24
Price to Sales (P/S)2.37
P/FCF Ratio224.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.12
Revenue Forecast (FY)£501.15M
Raspberry PI Holdings plc Business Overview & Revenue Model
Company Description
Raspberry 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 semic...
How the Company Makes Money
Raspberry Pi Holdings plc primarily makes money by selling Raspberry Pi computing products through a mix of direct and channel distribution. Key revenue streams include: (1) Sales of Raspberry Pi single-board computers and accessories: revenue gen...
Raspberry PI Holdings plc Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 245.24M | 259.50M | 213.83M | 152.51M | 102.22M |
| Gross Profit | 51.07M | 63.20M | 48.11M | 30.14M | 27.71M |
| EBITDA | 28.99M | 29.40M | 36.36M | 20.67M | 16.43M |
| Net Income | 16.47M | 9.16M | 25.42M | 13.86M | 10.80M |
Balance Sheet | |||||
| Total Assets | 246.53M | 331.40M | 208.15M | 122.54M | 93.61M |
| Cash, Cash Equivalents and Short-Term Investments | 20.89M | 45.80M | 33.10M | 27.30M | 25.42M |
| Total Debt | 6.62M | 7.32M | 5.57M | 1.35M | 1.73M |
| Total Liabilities | 67.51M | 121.00M | 83.26M | 33.46M | 23.08M |
| Stockholders Equity | 179.03M | 210.40M | 124.89M | 89.08M | 70.52M |
Cash Flow | |||||
| Free Cash Flow | 2.58M | -26.30M | 13.49M | 2.83M | -5.17M |
| Operating Cash Flow | 3.95M | -3.20M | 16.55M | 11.55M | 200.68K |
| Investing Cash Flow | -13.81M | -23.10M | -23.10M | -8.72M | -5.37M |
| Financing Cash Flow | -3.64M | 29.80M | 15.84M | -4.38M | 29.44M |
Raspberry PI Holdings plc Technical Analysis
Positive
556.50
Price Trends
374.61
Positive
337.62
Positive
370.52
Positive
Market Momentum
77.94
Negative
83.00
Negative
95.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:RPI, the sentiment is Positive. The current price of 556.5 is above the 20-day moving average (MA) of 440.57, above the 50-day MA of 374.61, and above the 200-day MA of 370.52, indicating a bullish trend. The MACD of 77.94 indicates Negative momentum. The RSI at 83.00 is Negative, neither overbought nor oversold. The STOCH value of 95.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:RPI.
Raspberry PI Holdings plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £646.90M | 10.73 | 8.34% | 2.09% | 0.49% | 61.73% | |
73 Outperform | £123.56M | 8.98 | 23.66% | 2.00% | 10.20% | 33.81% | |
70 Outperform | £1.34B | 19.44 | 10.81% | ― | 20.33% | 77.68% | |
70 Neutral | £84.70M | 12.03 | 9.07% | ― | 7.36% | 31.93% | |
68 Neutral | £95.02M | 8.13 | 3.91% | 1.56% | 8.75% | -54.73% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | £210.48M | -1.27 | -31.21% | ― | -7.62% | 5.48% |
* Technology Sector Average
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Raspberry PI Holdings plc Corporate Events
Regulatory Filings and Compliance
Raspberry Pi Discloses CEO-Linked Share Pledge as Collateral for Personal Loan
Neutral
Apr 27, 2026
Raspberry Pi Holdings plc disclosed that Elizabeth Upton, a person closely associated with CEO Eben Upton, has pledged 575,592 ordinary shares in the company as collateral for a personal loan facility with Credo Group, effective 21 April 2026. The...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Raspberry Pi Publishes 2025 Annual Report and Sets Date for 2026 AGM
Neutral
Apr 21, 2026
Raspberry Pi Holdings plc has published its 2025 Annual Report and Accounts and the notice of its 2026 Annual General Meeting, making both documents available via its investor website and the U.K. National Storage Mechanism. The AGM will be held o...
Regulatory Filings and Compliance
Raspberry Pi Directors Trim Stakes in Routine Share Sales
Neutral
Apr 20, 2026
Raspberry Pi Holdings plc disclosed that Non‑Executive Director Daniel Labbad and Chief Commercial Officer Mike Buffham have sold portions of their holdings in the company’s ordinary shares listed on the London Stock Exchange. Labbad d...
Business Operations and StrategyExecutive/Board Changes
Raspberry Pi Grants CEO Long-Term Nil-Cost Share Options
Positive
Apr 20, 2026
Raspberry Pi Holdings has granted its chief executive, Eben Upton, an award over 37,453 ordinary shares under its 2024 Deferred Bonus Plan, structured as a nil-cost option. The award, which will vest on 31 March 2029 subject to plan rules, undersc...
Business Operations and StrategyExecutive/Board Changes
Raspberry Pi Grants LTIP Awards to Senior Executives Aligned With Long-Term Growth
Positive
Apr 20, 2026
Raspberry Pi has granted long-term incentive plan awards over 712,119 ordinary shares to three senior executives, including CEO Eben Upton, General Counsel and Company Secretary Carol Copland, and Chief Commercial Officer Mike Buffham. The options...
Business Operations and StrategyFinancial Disclosures
Raspberry Pi lifts 2025 profit as semiconductor push and product expansion drive growth
Positive
Mar 31, 2026
Raspberry Pi reported a strong 2025 performance, with revenue up 25% to $323.2 million and adjusted EBITDA also rising 25% to $46.4 million, driven by higher unit shipments and robust demand from OEMs and resellers, especially in the U.S. and Chin...
Business Operations and StrategyFinancial Disclosures
Raspberry Pi Sets Dual Investor Presentations for 2025 Final Results
Positive
Mar 4, 2026
Raspberry Pi Holdings plc has scheduled a live hybrid presentation of its final results for the year ended 31 December 2025, to be held at 09:30 GMT on 31 March 2026 in London for analysts and institutional investors. Management will also host a s...
Other
Raspberry Pi CEO Eben Upton Increases Stake with Share Purchase
Positive
Feb 16, 2026
Raspberry Pi Holdings plc disclosed that Chief Executive Officer Eben Upton has purchased 4,684 ordinary shares in the company on the London Stock Exchange at a price of £2.82327 per share. Following this transaction, Upton’s total shar...
Other
Raspberry Pi CEO Increases Stake with Share Purchase
Positive
Feb 11, 2026
Raspberry Pi Holdings disclosed that its chief executive officer, Eben Upton, has purchased 7,589 ordinary shares on the London Stock Exchange’s Main Market at £2.6212 per share. Following the transaction, Upton holds 2,586,452 shares i...
Regulatory Filings and Compliance
Raspberry Pi CEO Eben Upton Increases Stake with Fresh Share Purchase
Positive
Feb 9, 2026
Raspberry Pi Holdings plc, headquartered in Cambridge and listed in London, specialises in affordable, robust computing platforms aimed at enthusiasts, engineers and industrial users. Its vertically integrated engineering capabilities span semicon...
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...
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 refer...
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 shar...
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 13,33...
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.