Added to YB: 2026-05-06
Pitch date: 2026-05-03
VTY.L [neutral]
Vistry Group PLC
Author Info
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Company Info
Vistry Group PLC, together with its subsidiaries, provides housing solutions in the United Kingdom. It offers single family housing models.
Market Cap
GBP 1.0B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.66
P/E
7.61
EV/Sales
0.35
Sector
Household Durables
Category
value
Vistry Group PLC - $VTY.L
VTY.L (overview): UK housebuilder transitioning to capital-light partnerships model (74% units partner-funded), but balance sheet not yet aligned—£3.2B inventory, £1B land creditors, £734M avg daily net debt vs mgmt net cash target. ROCE 14% vs 40% target; 8.4% op margin vs 12% goal. Trading 5.4-8.7x 2026 EV/EBIT vs peers 9.4x. Risks: sticky capital, integration issues, margin pressure, mgmt credibility post-profit warnings. Upside if inventory release funds buybacks at 0.48x TNAV & margins recover to 9%+ by 2029 (£400M EBIT, 10-23% IRR). New CEO Adam Daniels unproven; Labour £39B housing fund tailwind modest. Needs execution proof before buying.
Read full article (29 min)