Naked Wines plc (WINE) AI Stock Analysis

• Market Cap: £50.43M
• Dividend Yield: N/A
• Average Volume (3M): 113.12K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: -15.87%
• EPS Growth: 90.20%
• Country: UK
• Employees: 390
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Wineries & Distilleries
• EPS (TTM): -0.04
• Shares Outstanding: 68,276,410
• 10 Day Avg. Volume: 231,674
• 30 Day Avg. Volume: 113,117
• PEG Ratio: 0.17
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 0.26
• P/FCF Ratio: 3.99
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.02
• Revenue Forecast (FY): £199.78M

• Rating: 54 Neutral
• Price Target: 79.00p ▲(9.72% Upside)
• Action: Reiterated Date: 12/10/25
• Date: Action: Reiterated 12/10/25

Naked Wines plc's overall stock score reflects a challenging financial performance with declining revenue and profitability. However, the recent earnings call provided positive insights into cash generation and strategic improvements, which partially offset the negative valuation metrics. Technical indicators suggest a neutral market sentiment.

Positive Factors

Subscription model / recurring revenue

The monthly 'Angels' model generates predictable recurring cash and upfront capital for winemakers. This durable cash flow reduces working capital pressure, supports inventory financing and planning, and fosters customer loyalty that stabilizes revenue segments over multiple quarters.

Improving cash generation and adjusted EBITDA

A large improvement in adjusted EBITDA indicates structural progress in profitability drivers: better customer mix, cost discipline, and margin recovery. Sustained EBITDA improvement increases internal funding capacity, lowers dependency on external financing, and supports strategic investments over the medium term.

Inventory liquidation plan boosting liquidity

A defined GBP 40m inventory liquidation target reduces carrying costs and frees working capital. Converting excess stock to cash directly strengthens liquidity and gross margin dynamics, enabling reallocation to higher-return activities and reducing balance-sheet drag over coming quarters.

Negative Factors

Revenue contraction

Sustained top-line decline undermines operating leverage and constrains margin recovery. Persistent revenue shrinkage limits the firm's ability to spread fixed costs, invest in product and marketing, and achieve scale economies, making profitable growth harder to sustain over the next several quarters.

Negative profitability and returns

Negative net income and ROE indicate the business is not yet converting revenue into shareholder value. Continued losses impair retained earnings, limit reinvestment capacity, and may force conservative capital allocation that slows growth initiatives and strategic flexibility over the medium term.

Marketing and acquisition channel underperformance

Underperforming acquisition channels and worsening lead efficiency raise structural customer acquisition cost risks. If CAC cannot be sustainably reduced or diversified, customer base growth stalls and retention gains may not offset higher acquisition spend, pressuring long-term unit economics.

Naked Wines plc Business Overview & Revenue Model

Company Description

Naked Wines plc (WINE) is a UK-based online wine retailer that connects independent winemakers directly with consumers. The company operates primarily in the e-commerce sector of the beverage industry, offering a wide range of wines sourced from various regions around the world. Naked Wines is known for its innovative approach to wine sales, allowing customers to support winemakers by pre-funding their production in exchange for exclusive access to high-quality wines at competitive prices.

How the Company Makes Money

Naked Wines generates revenue primarily through its subscription model, where customers, referred to as 'Angels', contribute a monthly fee to fund winemakers. In return, Angels receive substantial discounts and exclusive access to wines. This model not only provides upfront capital for winemakers but also creates a loyal customer base. The company also earns revenue from direct wine sales through its website, where members can purchase wines at retail prices. Additionally, Naked Wines benefits from partnerships with various wineries, which allow for a diverse product offering and enhance its market presence. Seasonal promotions and limited edition releases further contribute to sales, leveraging customer engagement and driving revenue growth.

Naked Wines plc Financial Statement Overview

Summary

Naked Wines plc faces challenges in revenue growth and profitability, with declining margins and negative net income. The balance sheet is stable with low leverage, but returns on equity are negative. Cash flow management shows signs of improvement, but further efforts are needed to achieve sustainable profitability and growth.

Income Statement

Naked Wines plc has experienced declining revenue over the past few years, with a notable decrease of 7.46% in the most recent year. The company has struggled with profitability, as evidenced by negative net profit margins and EBIT margins. The gross profit margin has also decreased significantly from previous years, indicating pressure on cost management. While there is potential for improvement, current financial performance is weak.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting ongoing losses and inefficiencies in generating returns for shareholders. The equity ratio remains stable, suggesting a solid asset base, but the company needs to improve profitability to enhance shareholder value.

Cash Flow

Cash flow metrics show some positive trends, with a notable improvement in free cash flow growth. The operating cash flow to net income ratio has improved, suggesting better cash management. However, the free cash flow to net income ratio indicates that cash generation is still not sufficient to cover net losses, highlighting the need for further operational improvements.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2020
Income Statement
Total Revenue	227.46M	250.22M	290.41M	354.05M	350.26M	202.91M
Gross Profit	60.18M	46.13M	54.95M	69.89M	141.72M	77.56M
EBITDA	2.07M	-1.12M	-10.28M	-8.77M	6.54M	707.00K
Net Income	-1.52M	-4.90M	-20.84M	-17.41M	2.38M	8.15M
Balance Sheet
Total Assets	172.22M	164.49M	201.73M	251.89M	247.53M	191.63M
Cash, Cash Equivalents and Short-Term Investments	31.13M	30.05M	31.85M	39.50M	39.85M	54.74M
Total Debt	5.43M	6.45M	15.92M	35.02M	3.60M	5.45M
Total Liabilities	107.52M	92.96M	124.97M	153.21M	137.65M	78.05M
Stockholders Equity	64.70M	71.53M	76.77M	98.68M	109.88M	113.58M
Cash Flow
Free Cash Flow	14.51M	16.03M	2.17M	-33.48M	-45.05M	20.52M
Operating Cash Flow	14.96M	17.20M	3.31M	-32.00M	-43.12M	21.63M
Investing Cash Flow	-2.24M	-613.00K	7.92M	4.89M	-1.44M	60.22M
Financing Cash Flow	-10.53M	-17.66M	-18.74M	26.42M	-951.00K	-34.31M

Naked Wines plc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 72.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:WINE, the sentiment is Negative. The current price of 72 is below the 20-day moving average (MA) of 74.45, below the 50-day MA of 73.90, and below the 200-day MA of 77.00, indicating a bearish trend. The MACD of 0.11 indicates Positive momentum. The RSI at 47.30 is Neutral, neither overbought nor oversold. The STOCH value of 32.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:WINE.

Naked Wines plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSCO	74 Outperform	£30.00B	7.58	13.65%	3.25%	1.05%	-20.25%
SBRY	70 Outperform	£7.63B	11.60	6.63%	4.02%	0.82%	160.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
VINO	60 Neutral	£29.11M	24.10	5.67%	―	0.03%	-5.67%
WINE	54 Neutral	£50.43M	-4.50	-2.30%	―	-15.87%	90.20%
OCDO	54 Neutral	£1.60B	3.62	―	―	―	―
CDGP	54 Neutral	£58.32M	-32.71	-6.01%	―	―	―

Naked Wines plc Corporate Events

Naked Wines Buys Back Shares, Updates Voting Rights Total

Naked Wines plc has executed a share repurchase under its recently announced buyback programme, acquiring 92,500 ordinary shares at 75 pence each through Panmure Liberum. Following this transaction, the company has 71,717,079 ordinary shares in issue, of which 3,184,165 are held in treasury, leaving 68,532,914 shares carrying voting rights, a figure shareholders can use to assess disclosure thresholds under FCA rules.

The buyback marginally reduces the free float and consolidates existing investors’ proportional ownership, while providing updated capital and voting rights figures to the market. The move underscores Naked Wines’ active management of its capital structure and may signal confidence in the company’s valuation as it continues to pursue its direct-to-consumer wine retail strategy across its key markets.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Continues Buyback With 100,000-Share Repurchase

Naked Wines plc has executed a further tranche of its recently announced share buyback programme, repurchasing 100,000 ordinary shares at 75.08 pence each through broker Panmure Liberum. Following this transaction, the company now has 71,717,079 ordinary shares in issue, including 3,091,665 held in treasury, leaving 68,625,414 voting shares outstanding.

The buyback reduces the free float and slightly boosts earnings and net asset value per share, signalling continued management confidence and active capital management following the initiation of the programme earlier in February 2026. The updated voting-rights figure also provides a new reference point for investors monitoring disclosure thresholds under UK transparency rules, with implications for how shareholders track and report changes in their holdings.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Advances Buyback With 100,000-Share Repurchase

Naked Wines plc has continued executing its recently announced share buyback programme, repurchasing 100,000 ordinary shares at 75.10 pence each through broker Panmure Liberum. The transaction reduces the number of shares in public hands and sets total voting rights at 68,725,414, a key reference point for investors monitoring their disclosure thresholds under UK market rules.

The buyback slightly consolidates ownership and may signal management’s confidence in the current valuation, although it represents a small proportion of the overall share capital. By updating the market on its capital management actions and clarifying the new voting rights figure, Naked Wines provides greater transparency for shareholders and supports orderly disclosure under the FCA’s transparency regime.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Buys Back 100,000 Shares, Reduces Voting Rights to 68.8 Million

Naked Wines plc has repurchased 100,000 of its ordinary shares at 75.20 pence each under the share buyback programme announced on 4 February 2026, with the transaction executed through Panmure Liberum Limited. Following this buyback, the company has 71,717,079 ordinary shares in issue, of which 2,891,665 are held in treasury, leaving 68,825,414 voting rights outstanding, a change that affects the denominator used by shareholders for calculating notifiable interests under FCA transparency rules and underscores ongoing efforts to manage its capital structure and share base.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Begins Share Buyback with First 25,000-Share Purchase

Naked Wines has commenced purchases under its recently announced share buyback programme, repurchasing 25,000 ordinary shares at 74.5 pence per share via broker Panmure Liberum. Following this transaction, the company has 71,717,079 ordinary shares in issue, of which 2,791,665 are held in treasury, resulting in 68,925,414 voting rights, a change relevant for shareholders monitoring their disclosure thresholds under FCA rules.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Launches £1m Share Buyback to Boost Capital Returns

Naked Wines has launched a share buyback programme of up to £1 million, appointing Panmure Liberum to repurchase ordinary shares on the open market under pre-set parameters, with all bought-back shares to be held in treasury without voting or dividend rights. The initiative, which sits alongside the company’s existing policy to return up to 50% of adjusted EBITDA or net cash increases to shareholders and may lift the stock’s daily trading volumes, underscores management’s intention to use both ongoing and ad hoc capital returns, including this additional buyback running until March 31, 2026 or until the funding cap is reached, to enhance shareholder value while regularly reviewing capital allocation.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Grants New Long-Term Incentive Share Options to Leadership

Naked Wines has granted 1,726,971 new share options under its 2023 Long-Term Incentive Plan, comprising 172,696 nil-cost options and 1,554,275 options exercisable at £0.76, bringing total unvested equity awards to 5,761,213 shares, or about 8.03% of its issued share capital. Chief executive Rodrigo Maza and chief financial officer Dominic Neary received significant portions of these awards, which are subject to demanding performance conditions tied to continued employment, Adjusted EBITDA growth, free cash flow per share, and returns on equity and cash, as well as a share-price hurdle for market-value options, signalling an effort to tightly align top management’s remuneration with long-term financial performance and shareholder value creation.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Chair Increases Stake with Fresh Share Purchase

Naked Wines plc has disclosed that its Non-Executive Chair, Jack Pailing, has purchased 16,350 ordinary shares at £0.74 each on the London Stock Exchange’s AIM market, increasing his beneficial holding to 814,814 shares, or about 1.18% of the company’s issued share capital. The transaction, formally notified under regulatory rules for directors’ dealings, modestly deepens board-level equity alignment with shareholders, a move likely to be read by investors as a signal of confidence in the business and its direct-to-consumer wine model across its core markets.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Delivers Solid Peak Trading as It Recalibrates Around Profitable Core

Naked Wines reported a successful peak trading period for the 13 weeks to 29 December 2025, with performance across all markets in line with its full-year 2026 guidance despite a planned reduction in revenue as it refocuses on its profitable core. Peak-season revenue fell 19% at constant currency, including a 16% decline in repeat sales, but the business delivered a 5% rise in average order value and a slight increase in revenue per member, underscoring improved customer economics. Management reiterated guidance for FY26 revenue of £200m–£216m, adjusted EBITDA of £5.5m–£7.5m and net cash of £33m–£35m (excluding lease liabilities), and confirmed post-buyback issued share capital of 71.7 million shares, with 68.95 million voting rights, indicating ongoing efforts to manage capital structure and deliver shareholder value while accelerating cash generation via inventory liquidation over the medium term.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Completes £2m Reverse Accelerated Share Buyback

Naked Wines plc has completed a £2 million share buyback via a reverse accelerated bookbuild, acquiring 2,766,665 ordinary shares at 72 pence each, which will be held in treasury without voting rights. Following settlement on 29 December 2025, the company’s issued ordinary share capital will total 68,950,415 shares, all of which count towards voting rights, giving shareholders a new reference figure for calculating disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £75.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Launches £2m Reverse Bookbuild Share Buyback

Naked Wines has launched a reverse accelerated bookbuild share buyback of up to £2 million, its second £2 million programme this year, as part of its ongoing capital return policy. Conducted by Panmure Liberum as principal, the buyback will run on 22 December 2025 and may purchase up to 7.4 million shares within pre-agreed pricing limits, with all repurchased stock to be held in treasury without voting rights, potentially enhancing intrinsic value per share and paving the way for further on‑market buybacks if demand falls below the maximum amount.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £75.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Expects Higher FY26 EBITDA While Refining Strategy for Profitable Growth

Naked Wines plc reported its Adjusted EBITDA for FY26 is expected to be at the higher end of its guidance, indicating strong financial discipline and successful peak trading performance across its markets. Although revenue is expected to be lower, this aligns with the company’s strategy to pivot towards a more profitable, efficient business model, preparing for sustainable growth in the medium term.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £75.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Projects Top-End Adjusted EBITDA for FY26

Naked Wines plc has announced that its Adjusted EBITDA for FY26 is expected to reach the top end of published guidance, supported by successful peak trading and disciplined cost management across all markets. While revenue is projected to align with the lower end of guidance due to a deliberate strategy to eliminate inefficient investments, the company is positioning itself for a return to profitable growth in the medium term.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £75.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Reports Strong Half-Year Results with Strategic Progress

Naked Wines plc reported significant progress in its half-year results for the period ending September 29, 2025, with a notable 112% increase in adjusted EBITDA compared to the previous year. The company successfully completed its first share buyback program, enhancing shareholder value, and continues to align its operations with its strategic plan, focusing on cash generation and profitability. Despite a reduction in revenue, the company has improved its gross profit margin and reduced customer acquisition costs, setting a strong foundation for future growth. The leadership team has been strengthened to support marketing and customer growth initiatives, and the company remains committed to disciplined revenue growth and exploring new opportunities in the US market.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Reports Strong Half-Year Results with Strategic Progress

Naked Wines plc reported significant progress in its half-year results for the period ending September 2025, with a notable increase in adjusted EBITDA and gross profit margin. The company successfully completed a share buyback program, enhancing shareholder value, and made strategic leadership changes to support its marketing and growth initiatives. Despite a reduction in revenue, which aligns with its strategy to focus on profitable core members, the company improved its financial metrics, including a reduction in customer acquisition costs and an increase in return on equity. The company’s strategic plan remains on track, aiming for sustainable growth and improved profitability, while exploring new opportunities in the US market.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines Appoints Susan Hooper as Non-Executive Director

Naked Wines has announced the appointment of Susan Hooper as a Non-Executive Director, who will also serve as Senior Independent Director and Chair of the Remuneration Committee. Susan Hooper brings extensive experience in consumer, ESG, and business services sectors, which is expected to enhance Naked Wines’ strategic ambitions. The change follows the departure of Deirdre Runnette, who has significantly contributed to the company over the past three years. This board change is anticipated to strengthen Naked Wines’ governance and sustainability efforts, aligning with its mission to transform the wine-buying experience.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £79.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.

Naked Wines PLC Reports Strong Progress in Trading Update

Naked Wines PLC has released a post-close trading update ahead of its half-year results announcement. The company has shown significant progress in key performance indicators such as Adjusted EBITDA, margin, and cash generation, aligning with its FY26 guidance. Additionally, Naked Wines completed a £2 million share buyback program, enhancing the intrinsic value per share for shareholders. The company plans to host a presentation for existing and potential shareholders on 9 December 2025 to discuss these results further.

The most recent analyst rating on (GB:WINE) stock is a Hold with a £77.00 price target. To see the full list of analyst forecasts on Naked Wines plc stock, see the GB:WINE Stock Forecast page.