Victorian Plumbing Group Plc (VIC) AI Stock Analysis

• Market Cap: £256.69M
• Dividend Yield: 2.49%
• Average Volume (3M): 522.09K
• Price to Earnings (P/E): 20.5
• Beta (1Y): 0.77
• 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: 328,704,070
• 10 Day Avg. Volume: 161,759
• 30 Day Avg. Volume: 522,086
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: £108.40
• Price Target Upside: 38.27% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: 88.00p ▲(12.24% Upside)

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

A 75.7% year increase indicates strong, durable demand and successful online penetration in the home-improvement market. Persistent revenue expansion supports scale advantages, supplier leverage and reinvestment capacity, strengthening long-term competitive positioning.

Cash Generation

Impressive free cash flow growth signals solid cash conversion from operations, enabling the company to fund capex, reduce leverage, or return capital. Consistent cash generation enhances financial flexibility and resilience to cyclical spending in the home-improvement sector.

Balance Sheet Stability

A moderate debt load and stable equity ratio reflect a balanced capital structure that supports investment and growth while limiting refinancing risk. This conservatism improves resilience to demand swings and preserves capacity for strategic initiatives over the medium term.

Negative Factors

Low Net Margin

Relatively low net margins constrain the ability to absorb cost inflation and invest in growth initiatives. Over time, weaker bottom-line conversion can limit returns to shareholders and necessitate margin recovery or structural cost reductions to sustain long-term profitability.

Free Cash Flow Volatility

Volatile free cash flow relative to net income complicates capital allocation and budgeting. Persistent variability raises the risk that investment, dividends, or debt reduction plans may be disrupted, reducing predictability for long-term strategic investments and creditor confidence.

Declining ROE

A declining ROE suggests decreasing efficiency in converting equity into profits, which can signal margin pressure, capital intensity increases, or slower growth returns. If persistent, this trend may erode shareholder value and requires management action to restore capital efficiency.

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

Victorian Plumbing Group Plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 78.40
• 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:VIC, the sentiment is Positive. The current price of 78.4 is above the 20-day moving average (MA) of 75.08, above the 50-day MA of 73.62, and above the 200-day MA of 75.77, indicating a bullish trend. The MACD of 1.62 indicates Negative momentum. The RSI at 60.17 is Neutral, neither overbought nor oversold. The STOCH value of 83.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
TPT	78 Outperform	£88.31M	14.72	89.96%	6.86%	17.48%	―
MER	75 Outperform	£298.87M	6.21	25.63%	4.65%	-2.79%	37.33%
VIC	70 Outperform	£256.69M	20.47	22.85%	2.49%	4.84%	103.78%
DFS	68 Neutral	£421.73M	17.51	10.06%	―	4.38%	―
WIX	67 Neutral	£502.66M	23.69	15.65%	3.83%	3.98%	-22.94%
HFD	67 Neutral	£318.10M	-9.36	-6.44%	6.30%	3.31%	-340.97%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Victorian Plumbing Group Plc Corporate Events

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.

Victorian Plumbing Announces New Research Coverage and Investor Presentation

Victorian Plumbing Group Plc announced that Equity Development has initiated research coverage on the company, providing shareholders with accessible insights into its strategy, business model, and financial performance. Additionally, the company will host an investor presentation on December 9, 2025, following the release of its FY25 final results, to further engage with stakeholders and address any questions.

The most recent analyst rating on (GB:VIC) stock is a Hold with a £80.00 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 Group Plc Announces New Share Admission on AIM

Victorian Plumbing Group Plc has announced an application to the London Stock Exchange for the admission of 966,910 new ordinary shares to be traded on AIM. These shares are issued under the company’s Deferred Bonus Plan and are expected to commence trading on 8 December 2025. This move will increase the company’s issued share capital to 328,704,068 ordinary shares, impacting shareholder calculations under the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:VIC) stock is a Hold with a £80.00 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 Reports Strong Financial Growth and Strategic Expansion

Victorian Plumbing Group Plc reported a 5% increase in revenue to £310 million for the year ending September 2025, driven by market share gains and strong growth in trade and tiles and flooring revenues. The company achieved a 61% rise in operating profit, attributed to the absence of previous year’s exceptional items, and improved marketing efficiency, which reduced marketing spend as a percentage of revenue. The launch of MFI has been well-received, and the group continues to focus on strategic growth areas, maintaining a positive outlook despite economic volatility.

The most recent analyst rating on (GB:VIC) stock is a Hold with a £80.00 price target. To see the full list of analyst forecasts on Victorian Plumbing Group Plc stock, see the GB:VIC Stock Forecast page.