Card Factory (LSE: CARD)

Last close As at 12/10/2024

GBP0.94

−1.10 (−1.16%)

Market capitalisation

GBP326m

Card Factory is the UK’s leading specialist retailer of greeting cards, gifts and celebration essentials. Its UK and Ireland customers are served via an extensive store estate and digital channels. Partnerships and franchises provide further access to UK and international customers.

The UK greetings card market is very fragmented, with competitors including specialist chains, grocery chains, other generalists and online operators. CARD’s value for money proposition versus its competitors is well understood by the UK consumer. The single card market is described as resilient. Historically, it has been low growth, with volume declines being offset by price growth.

Latest Insights

View More

Consumer | Update

Card Factory — Confident on FY25 outlook

Consumer | edison tv

Card Factory – executive interview

Consumer | Initiation

Card Factory — Look inside the card

Consumer | edison tv

Card Factory – executive interview

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director of Content, Consumer and Media

Milo Bussell

Analyst, Consumer and TMT

Key Management

  • Darcy Willson-Rymer

    CEO

  • Matthias Seeger

    CFO

Balance Sheet

Forecast net debt (£m)

15.7

Forecast gearing ratio (%)

5

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (27.7) (3.5) (1.3)
Relative (28.0) (3.8) (9.5)
52 week high/low 143.0p/90.0p

Financials

Card Factory’s H125 revenue growth demonstrated it is delivering well against its multi-year growth strategy. While profitability was negatively affected by the (mostly) known inflation in operating costs, management is confident Card Factory will achieve its full-year estimates. This is due the momentum in the business and the mismatch in H125 between cost inflation and the efficiency and cost savings that have always been expected to come through in H225.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2023A 463.4 111.2 51.6 12.33 7.6 3.2
2024A 510.9 123.8 64.2 13.85 6.8 2.8
2025E 545.8 134.9 67.1 14.37 6.5 2.7
2026E 588.9 143.2 74.2 15.91 5.9 2.6

Research

edison tv

Consumer

Card Factory – executive interview

Thematics

thematic

Consumer

ConsumerWatch – The times they are a-changin’

thematic

Consumer

ConsumerWatch – Give me a reason to love you

thematic

Consumer

ConsumerWatch – At least someone loves me

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