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1. Company Snapshot

1.a. Company Description

Wickes Group plc operates as a retailer of home repair, maintenance, and improvement products and services in the United Kingdom.It supports customers home improvements plans through Local Trade, do-it-for-me (DIFM), and do-it-yourself (DIY) prepositions.The company's products portfolio includes kitchens, bathrooms, garden maintenance and decorating areas, building supplies, tools, timber and sheet materials, doors, windows, flooring and tiles, painting, lofty conversions, driveways, joinery and landscaping, and glazing categories.


It operates through 232 retail stores; wickes.co.uk website; and a TradePro mobile app for trade members.Wickes Group plc was founded in 1854 and is headquartered in Watford, the United Kingdom.

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1.b. Last Insights on WIX

Wickes Group's recent performance has been negatively impacted by mixed analyst signals and revised fair value estimates. The company's fair value estimate was trimmed to £2.63 from £2.64, reflecting concerns over profit-before-tax forecasts and perceived risk. Additionally, despite a "stellar year" in FY25 with growth across retail and design & installation operations, investors are questioning the company's ability to meet refreshed revenue and growth assumptions. A new buyback plan has been introduced, which could support the stock. However, analysts' cautious stance on valuation headroom and risk may be weighing on sentiment.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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How Wickes Group (LSE:WIX) Story Is Shifting With Buybacks And Mixed Analyst Signals

Apr -26

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Why The Wickes Group (LSE:WIX) Story Is Shifting With New Targets And Buybacks

Apr -11

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Wickes Group H2 Earnings Call Highlights

Mar -17

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How Recent Forecast And Valuation Shifts Are Reframing The Wickes Group LSE WIX Story

Feb -10

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UK Stocks Including GB Group That May Be Priced Below Intrinsic Estimates

Jan -27

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An Intrinsic Calculation For Wickes Group plc (LON:WIX) Suggests It's 24% Undervalued

Jan -22

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3 UK Stocks Estimated To Be Trading At Up To 48% Discount

Dec -26

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What The Latest Analyst Narrative Means For Wickes Group Valuation

Dec -11

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.47%)

6. Segments

Retail (Product)

Expected Growth: 4%

Wickes Group plc's Retail (Product) segment growth of 4% is driven by increasing demand for home improvement products, expansion of online channels, and strategic pricing. Additionally, the company's focus on customer service, product innovation, and effective supply chain management contribute to the growth. Furthermore, the UK's growing housing market and rising DIY trends also support the segment's growth.

Design & Installation (Project)

Expected Growth: 6%

Wickes Group plc's Design & Installation (Project) segment growth of 6% is driven by increasing demand for home improvement, government initiatives for energy-efficient renovations, and rising consumer spending on DIY projects. Additionally, Wickes' strategic partnerships with suppliers, investments in digital platforms, and expansion of its installation services also contribute to the growth.

7. Detailed Products

Kitchen and Bathroom Products

Wickes offers a wide range of kitchen and bathroom products, including kitchen units, worktops, sinks, taps, and bathroom suites.

Timber and Building Materials

Wickes supplies a variety of timber and building materials, including lumber, plywood, MDF, and roofing materials.

Decorating and Painting Supplies

Wickes offers a range of decorating and painting supplies, including paints, wallpapers, and decorating tools.

Landscaping and Gardening Products

Wickes provides a variety of landscaping and gardening products, including paving, fencing, and gardening tools.

Tools and Equipment

Wickes sells a range of tools and equipment, including power tools, hand tools, and accessories.

Insulation and Dry Lining

Wickes offers a variety of insulation and dry lining products, including insulation materials, plasterboards, and dry lining systems.

8. Wickes Group plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Wickes Group plc operates in the home improvement retail industry, where substitutes are limited. However, online retailers and DIY stores may pose some threat.

Bargaining Power Of Customers

Wickes Group plc has a large customer base, but individual customers do not have significant bargaining power. The company's pricing strategy and product offerings are designed to appeal to a wide range of customers.

Bargaining Power Of Suppliers

Wickes Group plc relies on a network of suppliers for its products. While the company has some bargaining power due to its scale, suppliers may still exert some pressure on prices and delivery terms.

Threat Of New Entrants

The home improvement retail industry has high barriers to entry, including significant capital requirements and established supply chains. New entrants would face significant challenges in competing with established players like Wickes Group plc.

Intensity Of Rivalry

The home improvement retail industry is highly competitive, with several established players competing for market share. Wickes Group plc faces intense competition from rivals such as Homebase and B&Q.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 80.54%
Debt Cost 5.98%
Equity Weight 19.46%
Equity Cost 7.52%
WACC 6.28%
Leverage 413.84%

11. Quality Control: Wickes Group plc passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Debica

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Value: 8.7

Growth: 3.9

Quality: 4.2

Yield: 8.1

Momentum: 5.0

Volatility: 9.7

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Atal

A-Score: 6.2/10

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Growth: 3.6

Quality: 5.3

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Momentum: 6.0

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Wickes

A-Score: 5.9/10

Value: 5.6

Growth: 4.0

Quality: 3.3

Yield: 8.1

Momentum: 8.5

Volatility: 6.0

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Value: 8.7

Growth: 4.1

Quality: 3.6

Yield: 4.4

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Fiskars

A-Score: 4.6/10

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Growth: 2.4

Quality: 2.8

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A-Score: 3.2/10

Value: 3.1

Growth: 5.7

Quality: 4.1

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.97$

Current Price

1.97$

Potential

-0.00%

Expected Cash-Flows