Spire Healthcare Group PLC (GB:SPI)
LSE:SPI
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Spire Healthcare
(LSE:SPI)
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Rating:55Neutral
Price Target:
151.00 p
▼(-10.65% Downside)
Action:ReiteratedDate:03/24/26
The score is primarily supported by solid operating performance and consistent cash generation, but it is weighed down by high leverage and weak bottom-line profitability. Technical indicators are notably weak with the price below key moving averages and negative MACD, and valuation also detracts due to a high P/E with only a modest dividend yield.
Positive Factors
Revenue Growth
Material top-line recovery and expansion since 2020 demonstrates durable demand for the company’s hospital services across private pay and NHS contracts. Rising revenue supports scale, utilisation of clinical capacity and provides a structural base for reinvestment and margin maintenance over the next 2–6 months.
Negative Factors
High Leverage
Elevated leverage reduces balance sheet cushion and increases sensitivity to rising financing costs or revenue shocks. With debt materially > equity, the company has limited financial flexibility for opportunistic investment or to absorb downturns without reshaping capital structure or increasing refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Material top-line recovery and expansion since 2020 demonstrates durable demand for the company’s hospital services across private pay and NHS contracts. Rising revenue supports scale, utilisation of clinical capacity and provides a structural base for reinvestment and margin maintenance over the next 2–6 months.
Read all positive factors
Spire Healthcare (SPI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£593.90M
Dividend Yield1.37%
Average Volume (3M)1.66M
Price to Earnings (P/E)40.8
Beta (1Y)0.72
Revenue Growth6.95%
EPS Growth-34.38%
CountryUK
Employees15,703
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)0.03
Shares Outstanding402,759,600
10 Day Avg. Volume559,423
30 Day Avg. Volume1,661,785
Financial Highlights & Ratios
PEG Ratio-1.17
Price to Book (P/B)0.90
Price to Sales (P/S)0.42
P/FCF Ratio4.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£275.00Price Target Upside62.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.08
Revenue Forecast (FY)£1.61B
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 scre...
How the Company Makes Money
Spire Healthcare primarily makes money by delivering healthcare services and charging for patient episodes of care across its hospitals and clinics. Key revenue streams include: (1) Private medical insurance-funded care, where insurers pay Spire f...
Spire Healthcare Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
54
Neutral
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.58B | 1.51B | 1.36B | 1.20B | 1.11B |
| Gross Profit | 599.10M | 683.60M | 520.60M | 440.50M | 394.10M |
| EBITDA | 262.50M | 250.40M | 231.20M | 193.30M | 182.20M |
| Net Income | 16.40M | 25.40M | 27.30M | 8.60M | -9.70M |
Balance Sheet | |||||
| Total Assets | 2.38B | 2.34B | 2.29B | 2.16B | 2.24B |
| Cash, Cash Equivalents and Short-Term Investments | 34.70M | 43.70M | 49.60M | 74.20M | 202.60M |
| Total Debt | 1.32B | 1.28B | 1.26B | 1.19B | 1.27B |
| Total Liabilities | 1.63B | 1.60B | 1.55B | 1.43B | 1.53B |
| Stockholders Equity | 742.80M | 748.40M | 739.90M | 731.00M | 709.60M |
Cash Flow | |||||
| Free Cash Flow | 143.00M | 123.60M | 115.50M | 72.80M | 101.30M |
| Operating Cash Flow | 219.30M | 235.70M | 199.90M | 160.50M | 170.60M |
| Investing Cash Flow | -90.40M | -99.00M | -157.20M | -98.00M | -48.30M |
| Financing Cash Flow | -135.40M | -145.10M | -82.90M | -190.90M | -26.00M |
Spire Healthcare Technical Analysis
Negative
169.00
Price Trends
185.62
Negative
186.82
Negative
206.73
Negative
Market Momentum
-12.48
Positive
34.17
Neutral
34.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SPI, the sentiment is Negative. The current price of 169 is above the 20-day moving average (MA) of 163.67, below the 50-day MA of 185.62, and below the 200-day MA of 206.73, indicating a bearish trend. The MACD of -12.48 indicates Positive momentum. The RSI at 34.17 is Neutral, neither overbought nor oversold. The STOCH value of 34.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:SPI.
Spire Healthcare Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £236.63M | 39.29 | 10.14% | 3.40% | 17.95% | -54.68% | |
61 Neutral | £499.89M | 22.56 | 6.65% | 1.66% | 5.74% | 63.23% | |
55 Neutral | £593.90M | 40.77 | 2.22% | 1.37% | 6.95% | -34.38% | |
55 Neutral | £291.13M | -2.25 | 12.82% | ― | 1231.50% | ― | |
53 Neutral | £196.34M | 41.48 | 2.09% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | £677.58M | -7.21 | 409.00% | ― | -0.28% | 22.94% |
* Healthcare Sector Average
GB:SPI
Spire Healthcare
147.60
-25.16
-14.56%
GB:AGY
Allergy Therapeutics
10.70
4.95
86.09%
GB:NIOX
Circassia Pharmaceuticals
56.60
-8.42
-12.95%
GB:CRW
Craneware
1,422.00
-59.24
-4.00%
GB:PRTC
PureTech Health
119.60
16.60
16.12%
GB:OPT
Optima Health PLC
180.50
15.35
9.29%
Spire Healthcare Corporate Events
Business Operations and StrategyM&A Transactions
Spire Healthcare Ends Talks With Two Suitors but Keeps Sale Options Open
Neutral
Mar 23, 2026
Spire Healthcare has confirmed that talks with Bridgepoint and Triton over a possible takeover have ended, narrowing the field of potential buyers in its ongoing strategic review. The company remains in discussions with other parties over a potent...
Executive/Board Changes
Spire Healthcare Grants New LTIP Awards to Top Executives
Neutral
Mar 18, 2026
Spire Healthcare has granted new long-term incentive plan awards to chief executive Justin Ash and chief financial officer Harbant Samra in the form of nil-cost options over 736,733 and 451,653 ordinary shares respectively, representing 200% of th...
Business Operations and StrategyDividendsFinancial Disclosures
Spire Healthcare Delivers Resilient 2025 Results but Warns on NHS Revenue Hit in 2026
Neutral
Mar 5, 2026
Spire Healthcare reported a resilient 2025 performance, with revenue up 4.5% to £1.58bn and adjusted EBITDA rising 3.2%, as £30m of transformation-driven cost savings and tight capex control lifted adjusted free cash flow by nearly 65%. ...
Business Operations and StrategyM&A Transactions
Spire Healthcare Wins Deadline Extension for Potential Takeover Bids
Neutral
Feb 18, 2026
Spire Healthcare has secured an extension to the deadline for potential bidders Bridgepoint Advisers and Triton Investment Advisers to decide whether to make a takeover offer, pushing the cut-off from 21 February to 21 March 2026. The move follows...
Business Operations and StrategyM&A Transactions
Spire Healthcare Confirms Preliminary Takeover Talks With Bridgepoint and Triton
Neutral
Jan 26, 2026
Spire Healthcare has confirmed that private equity firms Bridgepoint Advisers and Triton Investment Advisers are among the parties in preliminary talks with the company as part of the strategic review launched in September 2025, following recent m...
Business Operations and StrategyExecutive/Board Changes
Spire Healthcare Non-Executive Director Jill Anderson Joins Croda International Board
Positive
Jan 9, 2026
Spire Healthcare has announced that non-executive director Jill Anderson has been appointed to the board of Croda International as a non-executive director, where she will also serve on the audit, nomination and remuneration committees from 12 Jan...
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.