£1043.5m market cap
541p last close
GBG specialises in identity data intelligence. Its products/services enable customers to understand and verify clients and employees in fraud, risk management, compliance and customer on-boarding services. With headquarters in the UK, it operates in 24 countries.
Investment summary
GB Group (GBG) reported FY19 results in line with recently upgraded estimates. It continues to deliver on its strategy to grow organic revenues at double-digit rates while delivering operating margins in excess of 20%. Recent acquisitions are performing well and helped drive the 56% growth in international revenues over the year. We make minor changes to our forecasts, resulting in small upgrades to normalised EPS estimates.
Y/E Mar |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2018A | 119.7 | 28.7 | 25.8 | 13.5 | 40.1 | 25.8 |
| 2019A | 143.5 | 34.1 | 31.3 | 15.4 | 35.1 | 30.8 |
| 2020E | 192.6 | 46.2 | 40.7 | 16.4 | 33.0 | 23.8 |
| 2021E | 213.9 | 50.7 | 45.5 | 18.4 | 29.4 | 21.7 |
| Last updated on 17/06/2019 | ||||||
Industry outlook
Globalisation and the growth in internet trading have also resulted in the need for higher compliance standards in light of the rising scope and financial impact of cybercrime. This, in turn, is driving the demand for more complex and comprehensive solutions for the verification of personal data.
Last updated on 17/06/2019
Sector |
|---|
| TMT |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net debt (£m) | 37.7 |
| Forecast gearing ratio (%) | 11 |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| David Rasche | Chairman |
| Chris Clark | CEO |
| Dave Wilson | FD |
You may also be interested in…
- 1Spatial
- 4imprint Group
- 7digital Group
- Allied Minds
- appScatter
- Bigblu Broadband
- Blancco Technology Group
- Boku
- Brady
- Carclo
- Claranova
- discoverIE Group
- Ebiquity
- EMIS Group
- Entertainment One
- eServGlobal
- Euromoney Institutional Investor
- Future
- GVC Holdings
- IQE
- Kape Technologies
- Keywords Studios
- Mercia Technologies
- Nanoco Group
- OnTheMarket
- Osirium Technologies
- SCISYS Group
- StatPro Group
- The Mission Marketing Group
- WANdisco
- XP Power
- YouGov