GB Group
GBG · Main Market · Technology · mcap £332m · 150.2p
GBG sells software that checks who people are, spots fraud and validates addresses and locations for banks, retailers and other firms. It operates in the UK, the Americas and Asia-Pacific.
The case for
- Adjusted operating profit rose from £61m in FY24 to £67.5m in FY26 as margins widened to about 24%. 11 Jun 2024 2 Jun 2026
- Buybacks of £45m in FY26 shrank the share count, and adjusted EPS rose to 19.0p. 25 Nov 2025 2 Jun 2026
- The credit facility is refinanced to 2030, and Equifax is expanding its partnership with GBG. 27 Mar 2026 20 May 2026
- The core Identity and Location segments returned to mid-single-digit growth in the second half of FY26. GBG Go has over 100 contracts. 22 Apr 2026 2 Jun 2026 21 Jul 2026
The case against
- FY27 revenue guidance was cut to 1-3% on Americas Identity customer attrition, below expectations. 14 Aug 2026
- FY27 margin is guided to only 21-22%, down from about 24%, owing to the £6m investment. 2 Jun 2026 14 Aug 2026
- Revenue growth has been 3% or less for two years, short of mid-single-digit aims. 10 Jun 2025 2 Jun 2026
- Net debt rose to £80m in FY26 as buybacks used cash. 2 Jun 2026
Both sides use only facts from the company's announcements · not investment advice
Company filings. Not investment advice.