Spire Healthcare (SPI) AI Stock Analysis

• Market Cap: £913.38M
• Dividend Yield: 1.01%
• Average Volume (3M): 1.06M
• Price to Earnings (P/E): 36.0
• Beta (1Y): 0.76
• Revenue Growth: 11.20%
• EPS Growth: -6.80%
• Country: UK
• Employees: 15,703
• Sector: Healthcare
• Sector Strength: 47
• Industry: Medical - Care Facilities
• EPS (TTM): 0.03
• Shares Outstanding: 402,759,600
• 10 Day Avg. Volume: 1,318,652
• 30 Day Avg. Volume: 1,059,880
• 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: 26.77% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 72 Outperform
• Price Target: 233.00p ▲(4.25%Upside)

Spire Healthcare's strong financial performance and positive technical indicators are the main strengths, supported by favorable corporate events. However, the high valuation poses a risk, suggesting a need for cautious optimism.

Spire Healthcare Business Overview & Revenue Model

Company Description

Spire Healthcare Group plc, together with its subsidiaries, owns and operates private hospitals and clinics. It offers various treatments in the areas of allergy and infectious diseases, blood tests, bones and joints, bowel treatments, breast screening, cancer investigations and treatments, cosmetic surgery, cyst removal, and dental surgery, as well as ear, nose, and throat treatments. The company also provides eye surgery and treatments, family planning, gastroenterology, general medicine, general surgery, haematology, hand surgery, hip and knee treatment, and heart and kidney treatments. In addition, it offers treatments in the areas of men's health, neurosurgery and neurology, paediatrics, pain management, rehabilitation, sports, physiotherapy, podiatry, respiratory care, and rheumatology; and scans and investigations, skin treatments, spinal care, sports science, urology care, vascular surgery, weight loss, and women's health. Further, the company offers various tests and scans, which include cardiac CT, CT, MRI, ultrasound, and X-ray scans. It offers diagnostics, in-patient, daycase, and out-patient care services through 40 hospitals and eight clinics across England, Wales, and Scotland. Spire Healthcare Group plc was founded in 2007 and is headquartered in London, the United Kingdom.

How the Company Makes Money

Spire Healthcare generates revenue primarily through the provision of private healthcare services. The company earns income from patients who pay for treatments directly, as well as through partnerships with private medical insurers who cover healthcare costs for their policyholders. In addition, Spire Healthcare receives revenue from the National Health Service (NHS) by providing certain medical services under contracts. Key revenue streams include surgical procedures, diagnostic services, consultations, and outpatient treatments. The company's financial performance is influenced by factors such as patient volume, service mix, pricing strategies, and its ability to maintain strong relationships with insurers and the NHS.

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: 223.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 223.5 is above the 20-day moving average (MA) of 213.60, above the 50-day MA of 201.65, and above the 200-day MA of 210.92, indicating a bullish trend. The MACD of 6.71 indicates Negative momentum. The RSI at 69.99 is Neutral, neither overbought nor oversold. The STOCH value of 87.96 is Negative, 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
SPI	72 Outperform	£913.38M	36.03	3.41%	1.01%	11.20%	-6.80%
CRW	71 Outperform	£763.42M	65.43	4.50%	2.46%	6.74%	54.83%
AMS	66 Neutral	£453.06M	63.44	2.93%	1.04%	40.66%	-55.09%
Sector *	60 Neutral	HK$15.27B	5.80	-7.43%	4.22%	11.60%	-21.06%
APH	59 Neutral	$355.92M	―	-5.04%	―	-1.02%	67.70%
PRTC	55 Neutral	£302.72M	7.75	11.74%	―	38.80%	―
TLY	53 Neutral	£471.71K	―	-3.66%	―	-23.61%	-30.61%

Spire Healthcare Corporate Events

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.

Spire Healthcare Executives Exercise Share Awards, Retain Shares

Spire Healthcare Group PLC announced that its Executive Directors, Justin Ash and Harbant Samra, have exercised their vested Executive Share Plan awards. Justin Ash exercised both his Long Term Incentive Plan and Deferred Share Bonus Plan awards, retaining a significant number of shares after tax satisfaction, while Harbant Samra exercised his Long Term Incentive Plan award, also retaining shares. This move reflects the directors’ confidence in the company’s future and their commitment to its growth, potentially impacting stakeholder perceptions positively.

Spire Healthcare Releases 2024 Annual Report and Announces 2025 AGM

Spire Healthcare Group plc has published its 2024 Annual Report and 2025 Notice of Annual General Meeting, with documents available on its website and the National Storage Mechanism. The company encourages shareholders to attend the AGM on 14 May 2025 in London and submit questions via email, with resolutions and voting results to be shared post-meeting. This announcement underscores Spire Healthcare’s commitment to transparency and shareholder engagement, potentially strengthening its market position and stakeholder trust.