Spire Healthcare (SPI) AI Stock Analysis

• Market Cap: £913.38M
• Dividend Yield: 101.1%
• Average Volume (3M): 845.94K
• Price to Earnings (P/E): 36.0
• Beta (1Y): 0.75
• Revenue Growth: 11.20%
• EPS Growth: -6.80%
• Country: UK
• Employees: 15,703
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Care Facilities
• EPS (TTM): 0.03
• Shares Outstanding: 402,759,600
• 10 Day Avg. Volume: 484,297
• 30 Day Avg. Volume: 845,938
• PEG Ratio: -0.57
• Price to Book (P/B): 1.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.61
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £283.33
• Price Target Upside: 24.54% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 68 Neutral
• Price Target: 240.00p ▲(5.49%Upside)

Spire Healthcare's overall score reflects strong financial performance and positive corporate events. The robust revenue growth and strategic initiatives are significant positives, but high leverage and modest net profit margins pose risks. Technical indicators show neutral to slightly positive momentum, while valuation suggests the stock is priced on the higher side.

Spire Healthcare Business Overview & Revenue Model

Company Description

Spire Healthcare (SPI) is a leading private healthcare provider in the United Kingdom, offering a comprehensive range of services, including elective surgery, diagnostics, and specialized treatments. With a network of hospitals and clinics across the country, Spire Healthcare is committed to providing high-quality, patient-centered care through its team of experienced medical professionals and state-of-the-art facilities.

How the Company Makes Money

Spire Healthcare generates revenue primarily through the provision of healthcare services to privately insured, self-pay, and NHS-funded patients. The company operates a network of hospitals that offer a wide range of medical services, including elective surgeries, diagnostics, and specialized treatments. Revenue streams include payments from private medical insurance companies, direct payments from patients who choose to self-fund their treatments, and contracts with the National Health Service (NHS) for specific services. Spire Healthcare also earns income from ancillary services such as pharmacy and physiotherapy. Key factors contributing to its earnings include its reputation for quality care, strategic partnerships with insurers, and its ability to attract and retain skilled healthcare professionals.

Spire Healthcare Financial Statement Overview

Summary

Spire Healthcare shows strong revenue growth and operational efficiency, with consistent improvements in gross and EBIT margins. However, the modest net profit margin and high leverage present challenges. The balance sheet indicates substantial leverage with a high debt-to-equity ratio, and cash flow generation is robust, supporting liquidity and investments.

Income Statement

Spire Healthcare has demonstrated consistent revenue growth over recent years, with a significant increase from £919.9M in 2020 to £1.51B in 2024. Gross profit margin improved to 45.23% in 2024, indicating strong cost management. However, the net profit margin remains modest at 1.68%, suggesting room for improvement in overall profitability. EBIT and EBITDA margins show stable operational efficiency, with the latter at 14.06% in 2024.

Balance Sheet

The company maintains a relatively high debt-to-equity ratio of 1.71, reflecting substantial leverage. However, return on equity (ROE) is modest at 3.39%, indicating efficient use of equity. The equity ratio at 31.94% suggests a balanced capital structure, though increasing equity could mitigate leverage risks.

Cash Flow

Spire Healthcare's cash flow from operations has shown a positive trend, reaching £235.7M in 2024, supporting its capital expenditures and free cash flow generation. Free cash flow growth is steady, though the operating to net income ratio of 9.28 indicates reliance on operating performance for cash generation.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.51B	1.36B	1.20B	1.11B	919.90M
Gross Profit	683.60M	520.60M	440.50M	394.10M	361.80M
EBITDA	250.40M	231.20M	202.10M	182.20M	-51.90M
Net Income	25.40M	27.30M	8.60M	-9.70M	-233.90M
Balance Sheet
Total Assets	2.34B	2.29B	2.16B	2.24B	2.10B
Cash, Cash Equivalents and Short-Term Investments	43.70M	49.60M	74.20M	202.60M	106.30M
Total Debt	1.28B	1.26B	1.19B	1.27B	1.17B
Total Liabilities	1.60B	1.55B	1.43B	1.53B	1.40B
Stockholders Equity	748.40M	739.90M	731.00M	709.60M	706.60M
Cash Flow
Free Cash Flow	123.60M	115.50M	72.80M	101.30M	95.10M
Operating Cash Flow	235.70M	199.90M	160.50M	170.60M	141.70M
Investing Cash Flow	-99.00M	-157.20M	-98.00M	-48.30M	-46.40M
Financing Cash Flow	-145.10M	-82.90M	-190.90M	-26.00M	-79.80M

Spire Healthcare Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 227.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SPI, the sentiment is Positive. The current price of 227.5 is above the 20-day moving average (MA) of 224.47, above the 50-day MA of 212.26, and above the 200-day MA of 210.38, indicating a bullish trend. The MACD of 3.73 indicates Positive momentum. The RSI at 64.31 is Neutral, neither overbought nor oversold. The STOCH value of 70.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:SPI.

Spire Healthcare Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRW	75 Outperform	£826.45M	70.83	4.50%	0.07%	6.74%	54.83%
AMS	71 Outperform	£447.67M	62.24	2.93%	125.30%	40.66%	-55.09%
SPI	68 Neutral	£913.38M	36.03	3.41%	101.10%	11.20%	-6.80%
PRTC	61 Neutral	£333.95M	8.49	11.74%	―	38.80%	―
Sector *	58 Neutral	£4.85B	6.57	-62.36%	101.97%	34.03%	6.31%

Spire Healthcare Corporate Events

Spire Healthcare Appoints New Joint Corporate Broker

Spire Healthcare Group plc has appointed Joh. Berenberg, Gossler & Co KG, London Branch as its Joint Corporate Broker alongside J.P. Morgan Securities plc, effective immediately. This strategic appointment is expected to enhance Spire Healthcare’s market positioning and strengthen its financial advisory capabilities, potentially benefiting its stakeholders and supporting its operational growth.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Announces Change in Major Shareholdings

Spire Healthcare Group PLC has announced a change in major holdings, with Harwood Capital LLP acquiring or disposing of voting rights, resulting in a total of 3.076% voting rights in the company. This notification reflects changes in shareholder positions, potentially impacting the company’s governance and influencing its strategic decisions.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £310.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Directors Exercise Sharesave Plan Options

Spire Healthcare Group PLC announced that its Executive Directors, Justin Ash and Harbant Samra, have exercised their options under the 2022 Sharesave Plan, acquiring 1,818 shares each at an exercise price of £1.98 per share. This transaction reflects the directors’ continued confidence in the company’s growth and stability, as all acquired shares have been retained, potentially strengthening their alignment with shareholder interests.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £2.90 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Announces Change in Voting Rights

Spire Healthcare Group PLC has announced a change in its voting rights, with Bridgemere Securities Limited increasing its stake to 5.5705% from a previous 4.0900%. This adjustment in voting rights could potentially impact the company’s governance and decision-making processes, influencing its strategic direction and stakeholder interests.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Announces New Executive LTIP Awards

Spire Healthcare Group PLC has announced the grant of additional performance share awards under its Long Term Incentive Plan (LTIP) to Executive Director Harbant Samra. The awards, reflecting a recent change in his base salary, are set at 200% of his current salary and will vest based on performance conditions related to shareholder return, ROCE, hospital EBIT margin, and operational excellence. This move aligns with the company’s shareholder-approved Remuneration Policy and underscores its commitment to incentivizing leadership performance.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Announces Change in Major Holdings

Spire Healthcare Group PLC has announced a change in its major holdings, with FIL Limited acquiring or disposing of voting rights and financial instruments. The transaction resulted in FIL Limited holding 9.105% of the voting rights in Spire Healthcare. This change in holdings could impact the company’s governance and influence decision-making processes, potentially affecting stakeholders and market perceptions.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare’s 2025 AGM Resolutions Passed with Strong Support

Spire Healthcare Group PLC announced the successful passage of all resolutions at its 2025 Annual General Meeting, held on May 14, 2025. The results indicate strong shareholder support, with most resolutions receiving near-unanimous approval. This outcome reflects positively on the company’s governance and may enhance its position in the healthcare sector, potentially influencing investor confidence and future strategic decisions.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.

Spire Healthcare Reports Steady Performance and Strategic NHS Partnership

Spire Healthcare Group PLC reported that its performance from January to April 2025 aligned with expectations and the 2025 guidance, with a transformation program on track to deliver significant efficiencies. The company, which has full UK revenue exposure, does not foresee any major cost or supply chain issues due to recent tariff announcements. Additionally, Spire Healthcare has been named a founding supplier in the Government’s National Strategic Supplier Relationship programme, enhancing its collaboration with the NHS for sustainable NHS commissioning.

The most recent analyst rating on (GB:SPI) stock is a Buy with a £321.00 price target. To see the full list of analyst forecasts on Spire Healthcare stock, see the GB:SPI Stock Forecast page.