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WH Smith
(LSE:SMWH)
WH Smith (SMWH) vs. iShares MSCI United Kingdom ETF (EWC)
WH Smith Business Overview & Revenue Model
WH Smith Earnings Call Summary
WH Smith Financial Statement Overview
| Breakdown | Aug 2025 | Aug 2024 | Aug 2023 | Aug 2022 | Aug 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.55B | 1.92B | 1.79B | 1.40B | 886.00M |
| Gross Profit | 880.00M | 1.21B | 1.11B | 849.00M | 514.00M |
| EBITDA | 183.00M | 334.00M | 316.00M | 228.00M | 42.00M |
| Net Income | -144.00M | 67.00M | 79.00M | 47.00M | -82.00M |
Balance Sheet | |||||
| Total Assets | 1.46B | 1.87B | 1.65B | 1.69B | 1.35B |
| Cash, Cash Equivalents and Short-Term Investments | 71.00M | 56.00M | 56.00M | 132.00M | 130.00M |
| Total Debt | 1.38B | 1.05B | 951.00M | 1.00B | 925.00M |
| Total Liabilities | 1.27B | 1.42B | 1.31B | 1.42B | 1.21B |
| Stockholders Equity | 158.00M | 416.00M | 277.00M | 255.00M | 133.00M |
Cash Flow | |||||
| Free Cash Flow | 199.00M | 144.00M | 129.00M | 104.00M | 56.00M |
| Operating Cash Flow | 276.00M | 275.00M | 251.00M | 187.00M | 100.00M |
| Investing Cash Flow | -69.00M | -137.00M | -122.00M | -83.00M | -43.00M |
| Financing Cash Flow | -192.00M | -138.00M | -203.00M | -104.00M | -35.00M |
WH Smith Technical Analysis
WH Smith Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £1.50B | 23.58 | 5.88% | 1.18% | 9.51% | -31.96% | |
67 Neutral | £224.78M | 16.03 | 12.51% | 7.08% | 6.18% | 4.22% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £23.00M | -1.20 | 63.25% | ― | -1.96% | 28.69% | |
56 Neutral | £653.85M | 8.84 | -113.93% | 1.40% | 3.94% | ― | |
53 Neutral | £49.33M | -28.65 | -10.09% | 2.09% | -5.97% | 14.75% | |
46 Neutral | £701.90M | -6.05 | -11.61% | 4.48% | -19.03% | -318.35% |
WH Smith Corporate Events
WH Smith shareholders have approved the election of Leo Quinn as a director, paving the way for him to become Executive Chairman from 7 April 2026, with over 86% of votes cast in favour. The board framed his appointment as central to leading the group’s transformation, signalling a renewed focus on strategic change at the retailer.
Investors also backed a one-off share option grant to Quinn, though support was notably lower at just under 80%, and a sizeable proportion of votes were withheld. The company acknowledged the concerns, committing to update the market within six months on shareholder engagement and any actions taken, underscoring governance scrutiny around executive incentives.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £547.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith reported a 5% rise in group revenue on a constant currency basis for the 26 weeks to 28 February 2026, driven by growth in North America and Rest of World despite modest gains in the UK. The company highlighted solid performances in UK hospitals and North American travel essentials, while continuing to refurbish key UK airport stores and manage underperforming segments such as InMotion and its Resorts fashion business.
Management reiterated that the group remains on track to meet full-year guidance, even as it navigates softer rail demand, weaker Las Vegas visitor numbers and geopolitical uncertainty affecting passenger flows in some markets. WH Smith is prioritising portfolio optimisation, including closing uneconomic stores and exiting sub-scale markets, alongside tighter cost and cash discipline to support its travel-led growth strategy.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £677.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith has confirmed that its issued share capital stands at 126,453,145 ordinary shares, each carrying voting rights, with no shares currently held in treasury. This clarification, made under the U.K. Disclosure and Transparency Rules, sets the reference figure shareholders must use to determine whether changes in their holdings trigger regulatory notification requirements, underscoring the company’s current equity base and free float structure.
By formally stating that all issued shares carry voting rights and that none are retained in treasury, WH Smith is signalling a fully distributed ownership profile at this point in time. The update helps investors, regulators, and market participants accurately track significant shareholdings and supports transparency in governance as trading and institutional positions in the stock evolve.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £674.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC reported its latest six-monthly block listing return for its employee share schemes, the WH Smith Sharesave Scheme and the WH Smith Executive Share Option Scheme, covering the period from 25 August 2025 to 24 February 2026. The company confirmed that no new shares were issued or allotted under either scheme during the period, leaving the balance of unallotted securities unchanged at 1,837,023 for the Sharesave Scheme and 100,000 for the Executive Share Option Scheme, indicating stability in its share-based employee incentive structures over the reporting interval.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £674.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith has called a general meeting for 12 March 2026 to seek shareholder approval for the appointment of Leo Quinn as executive chairman and to authorise a related stand-alone share award. The company has published and filed the meeting notice and proxy form with the UK National Storage Mechanism and made them available to shareholders online and by post, underscoring the formal governance process around this leadership transition.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £676.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC reported that all resolutions put to shareholders at its Annual General Meeting on 2 February 2026 were approved, including acceptance of the company’s reports and accounts, the remuneration report, a final dividend and authorities relating to share issuance, pre-emption rights disapplication and share buybacks. Shareholders also backed updates to the company’s long-term incentive plan and Sharesave scheme, reappointed PricewaterhouseCoopers as auditor and endorsed governance flexibility such as allowing general meetings to be called on 14 days’ notice. The meeting marked the formal retirement from the board of former chair Annette Court and non-executive director Nicky Dulieu, with senior independent director Simon Emeny stepping in as interim non-executive chairman and chair of the nominations committee, signalling continuity in board oversight and corporate strategy despite the leadership transition.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £689.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has confirmed that, as of 30 January 2026, its issued share capital comprises 126,453,145 ordinary shares, each carrying voting rights, with no shares held in treasury. The company noted that shareholders should use this total number of voting shares as the denominator when assessing whether they are required to disclose existing or altered holdings under the UK Financial Conduct Authority’s disclosure and transparency rules, clarifying the current capital base for regulatory reporting and investor transparency.
The most recent analyst rating on (GB:SMWH) stock is a Sell with a £664.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith’s Group Chief Financial Officer, Max Izzard, has increased his personal stake in the company by purchasing 25,000 ordinary shares at £6.75 each on 29 January 2026 via the London Stock Exchange. The insider purchase, disclosed under EU Market Abuse Regulation rules, may be interpreted by investors as a sign of confidence in the retailer’s prospects and governance, given the seniority of the executive and the size of the transaction.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £689.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has announced its intention to appoint veteran UK executive Leo Quinn as Executive Chairman with effect from 7 April 2026, subject to shareholder approval, as part of its strategy to return the group to stability and long-term growth. Quinn, who has over 20 years’ experience leading major publicly listed companies including Balfour Beatty, QinetiQ and De La Rue, will succeed Annette Court, who steps down as Chair and non-executive director after the 2 February 2026 AGM, with Senior Independent Director Simon Emeny serving as interim non-executive Chairman until Quinn formally takes up the role. To align his interests with shareholders, Quinn will invest £2 million of his own funds in WH Smith shares and receive a performance-linked share award worth £12.25 million at grant, which could double in value if the company’s share price also doubles over a five-year period, a structure designed to incentivise significant value creation of around £800 million for investors. The move signals the board’s confidence that Quinn’s track record in large-scale business transformation can underpin the next phase of WH Smith’s development, with implications for a more aggressive operational turnaround and renewed focus on shareholder returns.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has announced that its chair, Annette Court, will join fashion and homeware retailer Next plc as a non-executive director from 1 March 2026 and will become Next’s Senior Independent Director on 21 May 2026. The cross-board appointment underlines Court’s growing influence in UK corporate governance and may enhance WH Smith’s connectivity and insight across the wider UK retail sector, although she will continue in her existing leadership role at WH Smith.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £600.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has disclosed that non-executive director Helen Rose purchased 7,972 ordinary shares in the company on 8 January 2026. The shares were acquired on the London Stock Exchange at a price of £6.27 per share, signalling increased personal investment by a board member and underscoring alignment of director interests with those of shareholders.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £600.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has confirmed that, as of 31 December 2025, its issued share capital comprises 126,453,145 ordinary shares with full voting rights and no shares held in treasury. This updated capital figure provides the reference denominator shareholders must use to assess and disclose any notifiable holdings or changes in their interests under the UK Financial Conduct Authority’s disclosure and transparency rules, ensuring ongoing compliance and transparency in the company’s shareholder reporting.
The most recent analyst rating on (GB:SMWH) stock is a Hold with a £607.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith has disclosed a series of share transactions by senior executives under its long-term incentive plans, in line with EU Market Abuse Regulation requirements. Group chief financial officer Max Izzard exercised 3,625 ordinary shares from the 2024 long-term incentive plan and subsequently sold 1,704 shares at £6.37 to cover tax and National Insurance obligations, while company secretary and legal director Ian Houghton exercised 40,035 shares under the 2020 award and sold 18,864 shares at £6.32. All transactions, conducted outside a trading venue on 23 December 2025, underline ongoing alignment of management remuneration with equity performance and provide investors with visibility into insider dealings at the retailer.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has published its Annual Report and Accounts 2025 and the Notice of Annual General Meeting, making them available via the UK Financial Conduct Authority’s National Storage Mechanism and on the company’s website. The retailer has also filed related governance documents, including its proxy form and the rules for its long-term incentive plan and Sharesave scheme, which are to be distributed or made accessible to shareholders shortly, underscoring ongoing compliance with listing requirements and providing investors with detailed information ahead of the forthcoming AGM.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC has granted long-term incentive plan (LTIP) share awards to several senior executives, including Interim Group Chief Executive Andrew Harrison, Group Chief Financial Officer Max Izzard, Company Secretary and Legal Director Ian Houghton, and North America Chief Executive Huw Crwys Williams. The awards, comprising zero-cost grants of ordinary shares made outside a trading venue on 24 December 2025, form part of the company’s established executive remuneration framework and are designed to align management incentives with shareholder interests and the group’s longer-term performance objectives.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith has disclosed that its Group Chief Financial Officer, Max Izzard, purchased 20,000 ordinary shares in the company at a price of £6.40 per share on 23 December 2025, with the trade executed on the London Stock Exchange. The transaction, reported under market abuse regulation disclosure rules, signals increased personal investment by a key executive and may be read by investors as a vote of confidence in the retailer’s prospects.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith PLC, the global travel retailer, has announced a forthcoming change to its board, with Non-Executive Director and Chair of the Remuneration Committee Nicky Dulieu set to step down at the company’s next Annual General Meeting on 2 February 2026. Dulieu, who has served on the board since 2020, is leaving to focus on her other work and business commitments, and Chair Annette Court publicly thanked her for her commitment and contributions, signalling an upcoming refresh in the company’s board composition and remuneration oversight structure.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.
WH Smith reported a 5% rise in group revenue to £1.55bn for the year to 31 August 2025 as it completed its transformation into a pure-play travel retailer, but headline pre-tax profit from continuing operations slipped to £108m and trading profits softened, with North America under pressure. The company outlined a more tightly focused strategy by region, including reinforcing its UK travel-essentials leadership while scaling health and beauty and food-to-go, exiting unprofitable fashion and speciality stores in its North American Resorts business and reviewing the InMotion portfolio, and concentrating Rest-of-the-World expansion on core markets and franchise-led growth. Current trading shows modest like-for-like revenue growth of 3% and the group is guiding to FY26 headline profit before tax of £100m–£115m and total revenue growth of 4–6%, while implementing a remediation plan following a Deloitte review and facing a newly opened FCA investigation, developments that put governance and controls under scrutiny even as management argues the streamlined travel-focused model positions the business for sustainable, profitable growth. The board proposes a final dividend of 6.0p, maintaining its reset dividend policy at 2.5 times cover on continuing earnings, signalling a commitment to shareholder returns despite the operational reset and regulatory challenges.
The most recent analyst rating on (GB:SMWH) stock is a Buy with a £800.00 price target. To see the full list of analyst forecasts on WH Smith stock, see the GB:SMWH Stock Forecast page.