Victorian Plumbing Group Plc (VIC) AI Stock Analysis

• Market Cap: £231.13M
• Dividend Yield: 2.49%
• Average Volume (3M): 522.09K
• Price to Earnings (P/E): 6.8
• Beta (1Y): 0.86
• Revenue Growth: 4.84%
• EPS Growth: 103.78%
• Country: UK
• Employees: 715
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Home Improvement
• EPS (TTM): 0.02
• Shares Outstanding: 328,769,070
• 10 Day Avg. Volume: 161,759
• 30 Day Avg. Volume: 522,086
• PEG Ratio: 0.15
• Price to Book (P/B): 3.94
• Price to Sales (P/S): 0.78
• P/FCF Ratio: 11.60
• 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: £124.00
• Price Target Upside: 76.14% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.05
• Revenue Forecast (FY): £329.39M

• Rating: 70 Outperform
• Price Target: 89.00 p ▲(26.42% Upside)
• Action: Upgraded Date: 12/19/25
• Date: Action: Upgraded 12/19/25

Victorian Plumbing Group Plc's strong financial performance, characterized by robust revenue growth and cash flow generation, is the primary driver of its stock score. The technical analysis suggests neutral momentum, while the valuation is fair, supporting a balanced investment outlook.

Positive Factors

Revenue Growth

Sustained, large revenue expansion (75.7% recent increase) signals durable market traction and scaling of the e-commerce model. Persistent top-line growth supports investment in supply chain, product assortment and marketing, enabling longer-term share gains and margin leverage.

Cash Flow Generation

Strong free cash flow growth and healthy operating cash conversion underpin financial flexibility. Reliable cash generation allows funding of working capital, reinvestment in the platform, deleveraging or shareholder returns without dependence on external financing over the medium term.

E‑commerce Market Position

A focused, scalable e-commerce business in home improvement with a broad product catalog and B2C/B2B reach supports durable competitive advantage. Online distribution and platform investment favor lower incremental costs and repeat customer behavior over multiple cycles.

Negative Factors

Low Net Profit Margin

Relatively low net margins constrain the firm’s ability to absorb cost shocks or fund strategic initiatives internally. Even with improving EBITDA, limited bottom‑line conversion reduces retained earnings for reinvestment and can press management to either improve efficiency or accept lower returns.

Cash Flow Volatility

Volatility in free cash flow relative to net income complicates capital allocation and medium‑term planning. Irregular cash conversion can force reliance on short‑term financing for inventory or marketing peaks and may limit consistent shareholder distributions or predictable reinvestment.

Declining Return on Equity

A falling ROE trend indicates diminishing efficiency in turning equity into profits. Over time this can signal weaker capital allocation or margin pressure, reducing potential returns to shareholders and raising the bar for management to improve asset utilization or profitability.

Victorian Plumbing Group Plc Business Overview & Revenue Model

Company Description

Victorian Plumbing Group plc operates as an online retailer of bathroom products and accessories. It offers a range of products to B2C and trade customers with approximately 125 brands, as well as designs and develops in-house products. The company's bathroom product lines include tiles, flooring, and lighting. Victorian Plumbing Group plc was incorporated in 2021 and is based in Skelmersdale, United Kingdom.

How the Company Makes Money

Victorian Plumbing generates revenue primarily through its e-commerce platform, where it sells a diverse range of bathroom and plumbing products directly to consumers and trade customers. The company's revenue model is driven by the sale of products, with key revenue streams including retail sales from its extensive online catalog, as well as potential partnerships with manufacturers and suppliers that may involve exclusive product offerings. Additionally, the company may benefit from affiliate marketing arrangements and promotional partnerships that enhance its visibility and customer reach, contributing to overall sales growth. Seasonal promotions and marketing campaigns also play a role in driving traffic and conversion rates on their website, further bolstering their earnings.

Victorian Plumbing Group Plc Financial Statement Overview

Summary

Victorian Plumbing Group Plc exhibits strong revenue growth and cash flow generation, supported by a stable balance sheet. While profitability margins have room for improvement, the company maintains a solid financial position with effective leverage management.

Income Statement

Victorian Plumbing Group Plc has demonstrated strong revenue growth over the years, with a notable increase of 75.7% in the most recent year. The gross profit margin remains healthy, indicating effective cost management. However, the net profit margin is relatively low, suggesting potential areas for improvement in operational efficiency. EBIT and EBITDA margins have shown improvement, reflecting better profitability.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, indicating a balanced approach to leverage. Return on equity has been strong, although it has decreased over the years, suggesting a need for more efficient use of equity. The equity ratio is stable, reflecting a solid capital structure.

Cash Flow

Victorian Plumbing Group Plc has achieved impressive free cash flow growth, indicating strong cash generation capabilities. The operating cash flow to net income ratio is healthy, suggesting good cash conversion. However, the free cash flow to net income ratio has been volatile, highlighting potential fluctuations in cash flow management.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	306.10M	295.70M	285.10M	269.40M	268.80M
Gross Profit	143.50M	147.80M	134.60M	121.00M	130.50M
EBITDA	28.20M	19.10M	19.70M	15.60M	23.10M
Net Income	12.90M	5.50M	11.80M	9.20M	14.30M
Balance Sheet
Total Assets	168.40M	158.50M	99.00M	94.50M	80.70M
Cash, Cash Equivalents and Short-Term Investments	17.70M	11.20M	46.40M	45.50M	32.70M
Total Debt	51.10M	46.10M	4.80M	5.00M	5.80M
Total Liabilities	107.80M	106.20M	50.20M	50.50M	49.90M
Stockholders Equity	60.60M	52.30M	48.80M	44.00M	30.80M
Cash Flow
Free Cash Flow	20.60M	-7.40M	12.70M	14.00M	21.20M
Operating Cash Flow	22.00M	17.40M	17.70M	16.90M	24.40M
Investing Cash Flow	-5.40M	-43.90M	-5.00M	-2.90M	2.70M
Financing Cash Flow	-10.10M	-8.70M	-11.80M	-1.20M	-4.90M

Victorian Plumbing Group Plc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 70.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:VIC, the sentiment is Negative. The current price of 70.4 is below the 20-day moving average (MA) of 78.69, below the 50-day MA of 80.52, and below the 200-day MA of 73.02, indicating a bearish trend. The MACD of -2.71 indicates Positive momentum. The RSI at 35.55 is Neutral, neither overbought nor oversold. The STOCH value of 10.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:VIC.

Victorian Plumbing Group Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HWDN	72 Outperform	£4.27B	16.92	23.58%	2.57%	0.13%	-0.06%
KGF	72 Outperform	£4.96B	5.12	2.91%	3.99%	-0.13%	-43.71%
VIC	70 Outperform	£231.13M	6.79	22.57%	2.49%	4.84%	103.78%
TPT	68 Neutral	£73.61M	11.52	99.37%	6.86%	17.48%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
WIX	56 Neutral	£458.17M	13.99	16.11%	3.83%	3.98%	-22.94%
HEAD	47 Neutral	£35.07M	-0.69	-26.39%	―	-11.65%	-273.57%

Victorian Plumbing Group Plc Corporate Events

Victorian Plumbing Executives Exercise Options and Trim Holdings to Cover Tax

Victorian Plumbing Group has disclosed director dealings involving the exercise of share options by Chief Financial Officer Daniel Barton and Group Managing Director and CEO designate Stephnie Judge under the company’s Deferred Bonus Plan. The options were satisfied using 186,983 shares from the company’s employee benefit trust, underscoring use of existing treasury-like holdings rather than issuing new equity.

To cover tax liabilities and dealing costs from the option exercises, Barton sold 54,000 shares at about 83.64 pence and Judge sold 60,350 shares at 82.6 pence on AIM. Following these transactions, Barton holds 306,589 shares, or roughly 0.1% of the company, and Judge holds 2,494,916 shares, or about 0.8%, maintaining a meaningful equity stake that aligns management interests with shareholders.

The most recent analyst rating on (GB:VIC) stock is a Buy with a £93.00 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.

Victorian Plumbing Wins Full Shareholder Backing at 2026 AGM

Victorian Plumbing Group plc, the UK’s leading bathroom retailer, serves both B2C and trade customers with a comprehensive range of bathroom products and brands, and extends its reach into homewares and furniture through its online-only MFI business. Headquartered in the North West of England, the group leverages strong design, supply chain and marketing strengths to drive traffic and sales across its platforms.

At its 2026 Annual General Meeting, Victorian Plumbing secured shareholder approval for all resolutions, including adoption of the 2025 accounts, reappointment of Ernst & Young as auditor, board re-elections and a final dividend of 1.45p per share. Investors also backed authorities for the board to allot shares, disapply pre-emption rights and make market purchases, underscoring broad shareholder support for the company’s capital allocation flexibility and current governance structure.

The most recent analyst rating on (GB:VIC) stock is a Buy with a £95.00 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.

Victorian Plumbing lifts revenue 9% and buys transport firm to tighten fulfilment

Victorian Plumbing reported that trading momentum from the first quarter has continued, with revenue for the first 21 weeks of its 2026 financial year up 9%, driven by higher order volumes across all categories while maintaining margins. The board said it remains confident of delivering full-year revenue and adjusted profit before tax in line with current market expectations, underlining stable performance in a competitive retail environment.

The group has acquired Merseyside-based Sovereign Transport Services and Sovereign Commercials for £3.4 million, a haulage provider that already services Victorian Plumbing and other regional goods businesses. The deal, funded mainly from existing cash with a small equity element, is aimed at tightening control over customer fulfilment and improving transport operations, while the company also confirmed its interim results will be released on 19 May 2026.

The most recent analyst rating on (GB:VIC) stock is a Buy with a £95.00 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.

Victorian Plumbing Founder to Hand CEO Role to Long-Serving Executive

Victorian Plumbing Group plc, the UK’s leading bathroom retailer with a growing online homewares arm under the MFI brand, offers a one-stop shop bathroom proposition and complementary furniture ranges to both B2C and trade customers. Its business is underpinned by product design and supply chain capabilities, supported by brand-focused marketing to drive traffic to its digital platforms.

The group announced a planned CEO succession, with founder Mark Radcliffe stepping down as chief executive on 31 March 2026 to become a non-executive Founder Director, while long-serving executive and current Group Managing Director Stephnie Judge will assume the CEO role from 1 April 2026. The board highlighted Judge’s central role in recent strategic initiatives, including warehouse transformation, acquisitions and the MFI expansion, and is simultaneously reviewing executive remuneration and long-term incentives, signalling a managed leadership transition aimed at sustaining growth and market-share gains while maintaining strategic continuity for shareholders and other stakeholders.

The most recent analyst rating on (GB:VIC) stock is a Buy with a £95.00 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.

Victorian Plumbing Publishes Annual Report and Announces 2026 AGM

Victorian Plumbing Group plc has published its Annual Report and Accounts for the financial year ending September 30, 2025. The company confirmed that its 2026 Annual General Meeting will take place on February 25, 2026, encouraging shareholder engagement through proxy voting and pre-submitted questions. Emphasizing its standing as the UK’s leading bathroom retailer, this announcement underscores Victorian Plumbing’s commitment to transparent communication and its continued efforts to maintain strong stakeholder relations.

The most recent analyst rating on (GB:VIC) stock is a Buy with a £1.15 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.