Telecom Plus PLC (GB:TEP)
LSE:TEP
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Telecom Plus
(LSE:TEP)
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Rating:63Neutral
Price Target:
796.00 p
▼(-41.90% Downside)
Action:Reiterated
Date:06/25/26
The score is held back mainly by very weak technicals (price below all major moving averages and negative momentum). Financial performance is moderately solid on improving margins and strong ROE but is offset by rising leverage and volatile cash flow. Valuation is a key support due to the low P/E and very high dividend yield.
Positive Factors
Business model strength
The bundled multi-utility model and a large network of independent Partners create durable recurring revenue and higher lifetime value per household. Cross-sell stickiness and partner-led acquisition lower churn and customer acquisition costs, supporting stable revenue over months.
Negative Factors
Rising leverage
Material increase in leverage reduces financial flexibility and raises interest and refinancing risk. With higher debt levels, the company has less capacity to withstand revenue or cash-flow swings, limiting strategic optionality and increasing downside during stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Business model strength
The bundled multi-utility model and a large network of independent Partners create durable recurring revenue and higher lifetime value per household. Cross-sell stickiness and partner-led acquisition lower churn and customer acquisition costs, supporting stable revenue over months.
Read all positive factors
Telecom Plus (TEP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£614.15M
Dividend Yield7.01%
Average Volume (3M)95.11K
Price to Earnings (P/E)7.6
Beta (1Y)0.75
Revenue Growth5.60%
EPS Growth4.97%
CountryUK
Employees2,493
SectorUtilities
Sector Strength65
IndustryDiversified Utilities
Share Statistics
EPS (TTM)1.01
Shares Outstanding80,088,030
10 Day Avg. Volume73,105
30 Day Avg. Volume95,112
Financial Highlights & Ratios
PEG Ratio2.46
Price to Book (P/B)3.86
Price to Sales (P/S)0.53
P/FCF Ratio9.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£2,300.00Price Target Upside67.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.06
Revenue Forecast (FY)£2.07B
Telecom Plus Business Overview & Revenue Model
Company Description
Telecom Plus Plc, established in 1996 and headquartered in London, UK, operates as a significant provider of diverse essential services throughout the United Kingdom. The company's extensive portfolio encompasses utility offerings like gas and ele...
How the Company Makes Money
Telecom Plus makes money by selling subscription-based utility and telecom services to customers, typically encouraging customers to take multiple services in a bundle under the Utility Warehouse brand. Its revenue is primarily derived from recurr...
Telecom Plus Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.94B | 1.84B | 2.04B | 2.48B | 967.43M |
| Gross Profit | 377.94M | 358.07M | 355.21M | 294.97M | 177.25M |
| EBITDA | 153.20M | 142.13M | 131.35M | 106.03M | 70.26M |
| Net Income | 80.67M | 76.10M | 71.04M | 68.43M | 35.47M |
Balance Sheet | |||||
| Total Assets | 799.20M | 736.39M | 651.39M | 794.74M | 465.79M |
| Cash, Cash Equivalents and Short-Term Investments | 91.45M | 79.02M | 57.83M | 193.80M | 29.65M |
| Total Debt | 234.52M | 194.88M | 180.33M | 90.38M | 99.98M |
| Total Liabilities | 532.43M | 484.88M | 418.76M | 564.03M | 260.21M |
| Stockholders Equity | 266.77M | 251.51M | 232.63M | 230.71M | 206.48M |
Cash Flow | |||||
| Free Cash Flow | 106.62M | 91.58M | -144.98M | 221.11M | 38.86M |
| Operating Cash Flow | 107.07M | 108.75M | -132.49M | 232.13M | 48.80M |
| Investing Cash Flow | -63.49M | -26.08M | -8.15M | -11.52M | -8.38M |
| Financing Cash Flow | -31.15M | -61.48M | 4.66M | -57.16M | -35.12M |
Telecom Plus Technical Analysis
Negative
1370.00
Price Trends
1069.48
Negative
1203.90
Negative
1394.20
Negative
Market Momentum
-77.48
Positive
25.92
Positive
32.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TEP, the sentiment is Negative. The current price of 1370 is above the 20-day moving average (MA) of 933.30, above the 50-day MA of 1069.48, and below the 200-day MA of 1394.20, indicating a bearish trend. The MACD of -77.48 indicates Positive momentum. The RSI at 25.92 is Positive, neither overbought nor oversold. The STOCH value of 32.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:TEP.
Telecom Plus Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £287.73M | 10.78 | 31.43% | 4.14% | 8.51% | 7.04% | |
70 Outperform | £137.88M | 12.75 | 4.19% | 4.38% | 3.31% | -8.63% | |
69 Neutral | £2.54B | 28.00 | 3.94% | 2.78% | -11.94% | -84.94% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | £614.15M | 7.60 | 27.40% | 7.01% | 5.60% | 4.97% | |
59 Neutral | £7.93B | 13.02 | 1.68% | 2.86% | -2.11% | -104.48% | |
56 Neutral | £29.18B | 23.74 | 9.45% | 2.98% | 0.54% | -2.65% |
* Utilities Sector Average
GB:TEP
Telecom Plus
768.00
-1,059.60
-57.98%
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Telecom Plus Corporate Events
Regulatory Filings and Compliance
Telecom Plus Discloses Share Purchase by Non-Executive Director
Positive
Jun 24, 2026
Telecom Plus PLC has disclosed that non-executive director Suzanne (Suzi) Williams purchased 3,339 ordinary shares in the company on 24 June 2026. The shares were acquired on the London Stock Exchange at a price of £7.44571 per share, as requ...
Regulatory Filings and Compliance
Telecom Plus Director Increases Stake With Share Purchase
Positive
Jun 24, 2026
Telecom Plus PLC disclosed that non-executive director Gemma Godfrey purchased 1,367 ordinary shares in the company on 24 June 2026, at a price of £7.25685 per share on the London Stock Exchange. The director share purchase signals internal c...
Business Operations and StrategyStock BuybackFinancial Disclosures
Telecom Plus Launches £40m Share Buyback to Cut Share Capital
Positive
Jun 23, 2026
Telecom Plus has launched a new share buyback programme of up to £40 million in ordinary shares, following the release of its full-year results and in line with its revised distribution policy. The programme, which starts immediately and runs...
Other
Telecom Plus insiders invest £4.1m in additional shares
Positive
Jun 23, 2026
Telecom Plus PLC has disclosed significant on-market purchases of its ordinary shares by senior management and related parties, totalling approximately £4.1 million. Chairman Charles Wigoder acquired 500,000 shares, lifting his total interest...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Telecom Plus lifts profits, launches £40m buyback and unveils five-year growth plan
Positive
Jun 23, 2026
Telecom Plus, trading as Utility Warehouse, reported another year of growth for the 12 months to 31 March 2026, with revenues rising 5.6% to £1.94bn and adjusted pre-tax profit up 4.7% to £132.2m, while total customers increased 23.3% to...
Business Operations and StrategyFinancial Disclosures
Telecom Plus targets doubling multiservice customers in five-year growth drive
Positive
Jun 23, 2026
Telecom Plus has unveiled a five-year strategy aimed at doubling its base of high-value multiservice customers from about 500,000 to more than 1 million by FY31, reinforcing its focus on bundled energy, telecoms and insurance services. The plan fo...
Regulatory Filings and Compliance
Telecom Plus Confirms Total Voting Rights and Share Capital Structure
Neutral
May 29, 2026
Telecom Plus PLC has updated the market on its capital structure, confirming that it has 80,088,028 ordinary shares in issue, excluding 1,132,705 shares held in treasury, and that the same 80,088,028 shares currently carry voting rights. The compa...
Delistings and Listing ChangesRegulatory Filings and Compliance
Telecom Plus Adds Shares to LSE Under Employee Option Plans
Neutral
May 26, 2026
Telecom Plus PLC has admitted an additional 851 ordinary shares of 5 pence each to trading on the London Stock Exchange’s Main Market, taking the total number of ordinary shares in issue to 80,088,028. The newly admitted shares arise under e...
Regulatory Filings and Compliance
Telecom Plus updates investors on total voting rights and share capital
Neutral
Apr 30, 2026
Telecom Plus PLC has confirmed that its issued share capital comprises 80,088,028 ordinary shares of 5 pence each, excluding 1,132,705 shares held in treasury, resulting in an equal number of total voting rights. The company also disclosed that 25...
Business Operations and Strategy
Telecom Plus appoints Investec as joint corporate broker
Positive
Apr 28, 2026
Telecom Plus PLC has appointed Investec Bank PLC as a joint corporate broker with immediate effect, working alongside its existing broker Peel Hunt LLP to support its capital markets engagement. The move is likely aimed at strengthening Telecom Pl...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Telecom Plus posts strong customer growth, tweaks payout policy as competition weighs on services
Positive
Apr 28, 2026
Telecom Plus reported another year of strong expansion for the period to 31 March 2026, with total customer numbers up 23.3% to 1.43 million, boosted by the acquisition of 193,000 broadband customers from TalkTalk and organic growth of 10.3%. The ...
Business Operations and StrategyRegulatory Filings and Compliance
Telecom Plus Updates Share Capital and Voting Rights Position
Neutral
Mar 31, 2026
Telecom Plus PLC has confirmed that, as of 31 March 2026, it has 80,087,177 ordinary shares in issue (excluding treasury shares), representing the total number of voting rights in the company. The group also holds 1,132,705 shares in treasury and ...
Business Operations and StrategyDelistings and Listing Changes
Telecom Plus Adds Shares to LSE Listing via Employee Plans
Neutral
Mar 30, 2026
Telecom Plus PLC has admitted a further 1,960 ordinary shares of 5 pence each to trading on the London Stock Exchange Main Market, bringing the total number of shares in issue and admitted to 80,087,177. The new shares have been issued under exist...
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.