£665.5m market cap
637p last close
YouGov is a global research data and analytics group, with over 8m online panellists across 42 countries. It offers a complementary data-led suite of products and services including YouGov BrandIndex, YouGov Profiles, YouGov Omnibus and custom research.
Investment summary
YouGov’s FY19 results showed strong revenue growth (+10% underlying) and a 200bp increase in operating margins. The continuing drive is on growing Data Products and Services and focusing Custom Research on more profitable business. The ambitious targets to improve profitability set in the original five-year plan have been met. The new five-year plan to FY23 targets doubling both revenue and adjusted operating profit margin, as well as achieving a 30% CAGR in EPS (25% EPS CAGR in the earlier plan). In this context, the valuation premium to slower-growing peers looks well underpinned.
Y/E Jul |
Revenue (£m) |
EBITDA (£m) |
PBT (£m) |
EPS (fd) (p) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2018A | 116.6 | 20.9 | 16.4 | 10.8 | 57.3 | 27.6 |
| 2019A | 136.5 | 28.6 | 20.5 | 13.9 | 44.5 | 18.5 |
| 2020E | 152.1 | 35.4 | 26.5 | 17.8 | 34.8 | 18.5 |
| 2021E | 163.7 | 42.5 | 33.6 | 22.1 | 28.0 | 15.5 |
Industry outlook
Global MR continues to go through an extended period of change, fuelled by vast quantities of data leading to a proliferation of tools to manipulate it. This has attracted influential new players, from tech, but also from global consultants, and from in-house teams at clients. GDPR has challenged the industry in its assumptions and methodologies, with the full impact not yet being felt. A key differentiator for YouGov is its extensive and engaged panel, which, amongst the other benefits of cost and timeliness, allows for far more efficient re-contact studies. As part of the sign-up process, panellists give explicit consent for the way their data can be used.
Last updated on 23/01/2020
Sector |
|---|
| TMT |
Share price graph
Balance sheet |
|
|---|---|
| Forecast net cash (£m) | 46.6 |
| Forecast gearing ratio (%) | N/A |
Price performance
% |
1m |
3m |
12m |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||
| *% relative to local index | |||||||||||||||
Key management |
|
|---|---|
| Roger Parry | Chairman |
| Stephan Shakespeare | CEO |
| Alex McIntosh | CFO |
| Tilly Heald | Company Secretary |
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
- GB Group
- GVC Holdings
- IQE
- Kape Technologies
- Keywords Studios
- Mercia Asset Management
- Nanoco Group
- OnTheMarket
- Osirium Technologies
- SCISYS Group
- Solid State
- StatPro Group
- The Mission Marketing Group
- WANdisco
- XP Power