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Trustpilot Group Plc
(LSE:TRST)
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Rating:64Neutral
Price Target:
244.00 p
▲(54.92% Upside)
Action:Reiterated
Date:04/22/26
The score is driven by improving financial performance and strong cash generation, supported by bullish technical trend signals. Offsetting this are a major balance-sheet concern (negative equity in 2025) and a very expensive valuation (P/E ~114), which together increase risk and limit upside confidence.
Positive Factors
Free Cash Flow Strength
Trustpilot’s operating and free cash flow turned strongly positive across 2023–2025, with a ~105% FCF step-up in 2025. Sustained cash generation reduces reliance on external financing, funds product and sales investments, and supports long-term strategic flexibility and resilience.
Negative Factors
Negative Shareholders' Equity
The shift to negative shareholders’ equity in 2025 materially weakens balance-sheet resilience. Negative equity can limit financing options, increase perceived risk with lenders and counterparties, and constrain the company’s ability to absorb shocks or pursue larger strategic investments without dilution.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Trustpilot’s operating and free cash flow turned strongly positive across 2023–2025, with a ~105% FCF step-up in 2025. Sustained cash generation reduces reliance on external financing, funds product and sales investments, and supports long-term strategic flexibility and resilience.
Read all positive factors
Trustpilot Group Plc (TRST) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.05B
Dividend YieldN/A
Average Volume (3M)2.36M
Price to Earnings (P/E)186.1
Beta (1Y)0.98
Revenue Growth20.07%
EPS Growth30.00%
CountryUK
Employees988
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.02
Shares Outstanding387,414,830
10 Day Avg. Volume2,349,160
30 Day Avg. Volume2,357,596
Financial Highlights & Ratios
PEG Ratio3.89
Price to Book (P/B)-134.28
Price to Sales (P/S)3.39
P/FCF Ratio15.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£353.33Price Target Upside124.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.07
Revenue Forecast (FY)£307.87M
Trustpilot Group Plc Business Overview & Revenue Model
Company Description
Trustpilot Group plc operates a worldwide online review platform, connecting businesses with individual consumers across the United Kingdom, North America, Europe, and other international markets. The platform's primary function is to empower cons...
How the Company Makes Money
Trustpilot primarily makes money by selling subscription-based products to businesses that want to proactively collect reviews, manage their online reputation, and use Trustpilot’s content and trust signals in their marketing. Key revenue streams ...
Trustpilot Group Plc Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
38
Negative
Cash Flow
86
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 266.53M | 210.75M | 176.36M | 148.93M | 131.44M |
| Gross Profit | 207.95M | 171.63M | 145.45M | 122.00M | 106.79M |
| EBITDA | 27.81M | 17.70M | 8.92M | -6.67M | -16.16M |
| Net Income | 7.92M | 6.23M | 7.11M | -14.64M | -25.89M |
Balance Sheet | |||||
| Total Assets | 127.55M | 144.52M | 156.37M | 124.78M | 129.04M |
| Cash, Cash Equivalents and Short-Term Investments | 47.64M | 68.94M | 91.52M | 73.46M | 93.18M |
| Total Debt | 18.14M | 20.11M | 22.86M | 24.68M | 13.06M |
| Total Liabilities | 134.29M | 103.13M | 93.26M | 78.95M | 69.59M |
| Stockholders Equity | -6.73M | 41.39M | 63.11M | 45.84M | 59.45M |
Cash Flow | |||||
| Free Cash Flow | 59.85M | 19.74M | 17.32M | -10.10M | -9.66M |
| Operating Cash Flow | 60.45M | 29.36M | 20.88M | -2.70M | -5.44M |
| Investing Cash Flow | -8.51M | -9.62M | -3.56M | -7.40M | -4.22M |
| Financing Cash Flow | -76.90M | -40.77M | -2.95M | -1.90M | 56.39M |
Trustpilot Group Plc Technical Analysis
Positive
157.50
Price Trends
250.35
Positive
223.91
Positive
205.66
Positive
Market Momentum
7.18
Negative
60.13
Neutral
65.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TRST, the sentiment is Positive. The current price of 157.5 is below the 20-day moving average (MA) of 255.38, below the 50-day MA of 250.35, and below the 200-day MA of 205.66, indicating a bullish trend. The MACD of 7.18 indicates Negative momentum. The RSI at 60.13 is Neutral, neither overbought nor oversold. The STOCH value of 65.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:TRST.
Trustpilot Group Plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | £1.01B | 12.78 | 36.01% | 6.83% | 1.62% | 2.00% | |
68 Neutral | £142.06M | 1,364.01 | 0.31% | ― | -1.56% | -98.71% | |
68 Neutral | £197.04M | 80.77 | 5.22% | 0.80% | 19.00% | -53.85% | |
67 Neutral | £137.67M | 15.05 | 8.80% | 1.68% | 3.82% | -18.43% | |
64 Neutral | £1.05B | 186.05 | 64.11% | ― | 20.07% | 30.00% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | £502.79M | -6.79 | -14.39% | 1.73% | 0.82% | -997.08% |
* Technology Sector Average
GB:TRST
Trustpilot Group Plc
272.20
19.60
7.76%
GB:DOTD
Dotdigital
45.40
-29.42
-39.32%
GB:EYE
Eagle Eye Solutions
470.00
260.00
123.81%
GB:GBG
GB Group plc
218.50
-12.43
-5.38%
GB:MONY
Moneysupermarket.com
195.80
-8.25
-4.05%
GB:NET
Netcall
115.50
0.48
0.42%
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.