Card Factory (LSE: CARD)

Last close As at 12/07/2024


2.80 (2.89%)

Market capitalisation


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

Consumer | Initiation

Card Factory — Look inside the card

Consumer | edison tv

Card Factory – executive interview



Equity Analyst

Russell Pointon

Russell Pointon

Director of Content, Consumer and Media

Milo Bussell

Analyst, Consumer and TMT

Key Management

  • Darcy Willson-Rymer


  • Matthias Seeger


Balance Sheet

Forecast net debt (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual 9.3 6.2 10.9
Relative 7.8 1.8 (2.3)
52 week high/low 113.4p/85.6p


Card Factory (CARD) is aiming to become the leading omnichannel retailer of greeting cards, gifts and celebration essentials in the UK as well as select international markets. In the UK, its extensive and growing store base has been reconfigured to accommodate enhanced product ranges, and its online capabilities have been revamped. Each of these provides the foundations for greater growth in isolation and for new omnichannel propositions. Management expects to complement its UK retail growth opportunities with significant growth from building out its international brand presence via capital-light partnerships, as it has in the UK.

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 8.1 3.4
2024A 510.9 123.8 64.2 13.85 7.2 3.0
2025E 545.8 134.9 67.1 14.40 6.9 2.9
2026E 588.9 143.1 74.2 15.91 6.3 2.7




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