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Raspberry PI Holdings plc
(LSE:RPI)
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Rating:67Neutral
Price Target:
835.00 p
▲(50.04% Upside)
Action:Downgraded
Date:06/03/26
The score is driven by solid fundamentals anchored by a strong, low-leverage balance sheet and robust revenue growth, supported by a strong upward price trend. These positives are tempered by volatile cash flow and a very expensive valuation (high P/E), which materially reduces the overall score.
Positive Factors
Strong revenue growth
Sustained double-digit revenue growth, including ~28% in 2025, signals durable demand and successful scaling across consumer, education and commercial channels. Persistent top-line momentum supports reinvestment in R&D, manufacturing scale and channel expansion, underpinning multi‑period cash generation potential.
Negative Factors
Volatile cash generation
Large swings in operating and free cash flow imply working‑capital sensitivity and/or uneven investment timing, which undermines predictable cash available for dividends, buybacks or acquisitions. This volatility complicates capital allocation planning and raises funding risk during downturns or capex cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained double-digit revenue growth, including ~28% in 2025, signals durable demand and successful scaling across consumer, education and commercial channels. Persistent top-line momentum supports reinvestment in R&D, manufacturing scale and channel expansion, underpinning multi‑period cash generation potential.
Read all positive factors
Raspberry PI Holdings plc (RPI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.52B
Dividend YieldN/A
Average Volume (3M)570.17K
Price to Earnings (P/E)101.3
Beta (1Y)2.37
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 Target
£805.00Price Target Upside44.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.17
Revenue Forecast (FY)£605.41M
Raspberry PI Holdings plc Business Overview & Revenue Model
Company Description
Raspberry Pi Holdings plc is an international firm specializing in the design and development of single-board computers and compute modules. Its extensive product portfolio encompasses various computers and microcontrollers, alongside critical acc...
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
747.23
Positive
552.95
Positive
446.94
Positive
Market Momentum
10.77
Positive
48.11
Neutral
18.52
Positive
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 below the 20-day moving average (MA) of 857.50, below the 50-day MA of 747.23, and above the 200-day MA of 446.94, indicating a neutral trend. The MACD of 10.77 indicates Positive momentum. The RSI at 48.11 is Neutral, neither overbought nor oversold. The STOCH value of 18.52 is Positive, 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | £113.87M | 17.83 | 23.66% | 2.00% | 10.20% | 33.81% | |
70 Neutral | £91.61M | 20.05 | 9.07% | ― | 7.36% | 31.93% | |
68 Neutral | £109.21M | 28.47 | 3.91% | 1.56% | 23.25% | 700.00% | |
67 Neutral | £1.52B | 101.32 | 10.81% | ― | 20.33% | 77.68% | |
63 Neutral | £638.24M | 22.00 | 9.04% | 2.09% | 4.82% | 17.80% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | £206.93M | -4.21 | -31.21% | ― | -7.62% | 5.48% |
* Technology Sector Average
GB:RPI
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Raspberry PI Holdings plc Corporate Events
Other
Raspberry Pi Executives Cash In Shares Worth Over £2.4 Million
Neutral
Jun 12, 2026
Raspberry Pi Holdings plc has disclosed that Chief Executive Officer Eben Upton and Chief Commercial Officer Mike Buffham have sold portions of their holdings in the company. Upton sold 190,000 ordinary shares at £9.667 each, while Buffham di...
Business Operations and StrategyFinancial Disclosures
Raspberry Pi Lifts FY 2026 Outlook After Strong First-Half Trading
Positive
Jun 5, 2026
Raspberry Pi Holdings plc, a specialist in affordable, robust computing hardware and full-stack engineering, targets industrial and embedded users, hobbyists, educators and semiconductor customers with its general-purpose platforms. Its products&#...
Business Operations and StrategyFinancial Disclosures
Raspberry Pi lifts 2026 outlook as strong first half boosts profits
Positive
Jun 5, 2026
Raspberry Pi Holdings expects a strong first half for fiscal 2026, with unit shipments topping 4 million and adjusted EBITDA of at least $38m, driven by higher volumes, a favourable product mix and use of low-cost DRAM inventory built up in 2025. ...
Stock BuybackFinancial DisclosuresShareholder Meetings
Raspberry Pi Wins Strong Shareholder Backing at 2026 AGM
Positive
Jun 4, 2026
Raspberry Pi shareholders overwhelmingly approved all 17 resolutions at the company’s annual general meeting on 4 June 2026, including receipt of the 2025 accounts, the directors’ remuneration report, and the re-election of executive a...
Regulatory Filings and Compliance
Raspberry Pi CFO Richard Boult Sells 150,000 Shares
Neutral
May 11, 2026
Raspberry Pi Holdings plc disclosed that its Chief Financial Officer, Richard Boult, has sold 150,000 ordinary shares in the company on 8 May 2026 on the London Stock Exchange’s Main Market. The transaction, priced at £7.0150 per share ...
Business Operations and StrategyRegulatory Filings and Compliance
Raspberry Pi Updates Share Capital and Adds LTIP Shares to Main Market
Neutral
May 1, 2026
Raspberry Pi Holdings plc, the Cambridge-based maker of low-cost, high-performance computing platforms, designs and develops hardware and software across the semiconductor value chain. Its products target industrial and embedded users, hobbyists, ...
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...
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.