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1. Company Snapshot

1.a. Company Description

Vistry Group PLC, together with its subsidiaries, operates as a housebuilder in the United Kingdom.The company offers one-bedroom to five-bedroom family homes.As of December 31, 2021, it had 42,770 controlled land bank plots and 40,000 strategic land bank plots.


The company was formerly known as Bovis Homes Group PLC and changed its name to Vistry Group PLC in January 2020.Vistry Group PLC was founded in 1885 and is headquartered in West Malling, the United Kingdom.

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1.b. Last Insights on VTY

Vistry Group's recent performance was driven by a strong second-half performance, with profit ahead of 2024 levels. The company's ability to execute on strategic initiatives and drive growth has been reflected in a modest uptick in its fair value price target, increasing from £6.43 to £6.47. Additionally, Vistry Group's stock has seen a slight rise in its fair value per share price target, driven by updated assumptions around future growth and market performance. The company's focus on delivering results in line with market expectations, despite subdued demand in private sales, has also contributed to its positive performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Despite the downward trend in earnings at Vistry Group (LON:VTY) the stock lifts 7.4%, bringing one-year gains to 23%

Feb -12

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3 UK Stocks Estimated To Be Trading Below Intrinsic Value By Up To 49.3%

Jan -23

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Vistry Group Sees 2025 Profit Rise, Strong H2 Margin Boost; Targets 17,000+ 2026 Completions

Jan -14

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When Should You Buy Vistry Group PLC (LON:VTY)?

Jan -08

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FTSE 100 reshuffle 2025: Burberry, Games Workshop and British Land join as WPP, Frasers and B&M exit

Jan -02

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UK Stock Picks That May Be Undervalued In December 2025

Dec -31

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8 of the best bargain homes in 2025

Dec -30

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

Dec -26

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.07%)

6. Segments

Unbundled Software as a Service

Expected Growth: 13.0%

Vistry Group PLC's Unbundled Software as a Service growth of 13.0% is driven by increasing adoption of cloud-based solutions, rising demand for digital transformation, and growing need for cost-effective and scalable software solutions. Additionally, the company's strategic partnerships, innovative product offerings, and expanding customer base also contribute to this growth.

Bundled Software as a Service

Expected Growth: 11.5%

Vistry Group PLC's Bundled Software as a Service growth of 11.5% is driven by increasing adoption in the construction industry, fueled by digital transformation and cost savings. Additionally, the company's strategic partnerships, expanding product offerings, and strong customer retention rates contribute to this growth.

Support

Expected Growth: 10.5%

Vistry Group PLC's support is driven by strong demand for new homes, strategic land acquisitions, and a robust balance sheet. The company's focus on affordable housing and partnerships with local authorities also contribute to its growth. Additionally, Vistry's diversified business model, including its housebuilding and partnerships divisions, provides a solid foundation for sustainable growth.

Professional Services and Other

Expected Growth: 9.0%

Vistry Group PLC's 9.0% growth in Professional Services and Other is driven by increasing demand for consultancy services, expansion into new markets, and strategic partnerships. Additionally, the company's focus on digital transformation, cost savings initiatives, and investments in employee development have contributed to the segment's growth.

Perpetual

Expected Growth: 8.0%

Vistry Group PLC's perpetual growth is driven by increasing demand for affordable housing, strategic expansion into adjacent markets, and a strong order book. Additionally, the company's focus on cost savings, operational efficiencies, and investment in digital capabilities are expected to contribute to sustainable growth.

Optional Managed Services

Expected Growth: 11.0%

Vistry Group PLC's Optional Managed Services segment growth of 11.0% is driven by increasing demand for affordable housing, partnerships with local authorities, and expansion into new regions. Additionally, the company's focus on digital transformation, cost savings initiatives, and strategic acquisitions have contributed to the growth.

7. Detailed Products

Housebuilding

Vistry Group PLC's housebuilding segment focuses on the development and sale of new homes across the UK, catering to a range of customers from first-time buyers to families and retirees.

Partnerships

The partnerships segment of Vistry Group PLC specializes in delivering affordable housing and regeneration projects in collaboration with local authorities, housing associations, and other partners.

Linden Homes

Linden Homes is a premium housebuilding brand within Vistry Group PLC, offering high-quality, bespoke homes in desirable locations across the UK.

Bovis Homes

Bovis Homes is another prominent housebuilding brand within Vistry Group PLC, focusing on delivering high-quality, affordable homes to customers across the UK.

Vistry Partnerships

Vistry Partnerships is a specialist division that works with local authorities, housing associations, and other partners to deliver affordable housing and regeneration projects.

Vistry Construction

Vistry Construction is a specialist construction business that provides a range of services, including design, build, and maintenance, to clients across the UK.

8. Vistry Group PLC's Porter Forces

Forces Ranking

Threat Of Substitutes

Vistry Group PLC operates in the UK housebuilding industry, where there are limited substitutes for new homes. However, there are alternative options for customers, such as buying existing homes or renting. This limits the threat of substitutes to a medium level.

Bargaining Power Of Customers

Vistry Group PLC's customers have limited bargaining power due to the lack of alternative options for new homes. Additionally, the company's strong brand reputation and quality of its homes reduce the customers' ability to negotiate prices.

Bargaining Power Of Suppliers

Vistry Group PLC relies on various suppliers for materials and labor. While the company has some bargaining power due to its scale, suppliers can still exert some pressure on prices and delivery times. This is particularly true for suppliers of specialized materials or services.

Threat Of New Entrants

The UK housebuilding industry has high barriers to entry, including significant capital requirements, regulatory hurdles, and the need for specialized skills and expertise. This limits the threat of new entrants to a low level.

Intensity Of Rivalry

The UK housebuilding industry is highly competitive, with several large players competing for market share. Vistry Group PLC faces intense competition from other major housebuilders, which can lead to pricing pressure and reduced margins.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.43%
Debt Cost 8.20%
Equity Weight 84.57%
Equity Cost 14.78%
WACC 13.76%
Leverage 18.24%

11. Quality Control: Vistry 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

Stock-Card
Berkeley

A-Score: 6.0/10

Value: 6.4

Growth: 4.1

Quality: 7.2

Yield: 6.9

Momentum: 3.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Bellway

A-Score: 5.5/10

Value: 4.9

Growth: 5.2

Quality: 5.6

Yield: 6.2

Momentum: 5.0

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
Persimmon

A-Score: 5.3/10

Value: 6.5

Growth: 1.4

Quality: 5.2

Yield: 8.8

Momentum: 4.0

Volatility: 6.0

1-Year Total Return ->

View Full Report
Stock-Card
Redrow

A-Score: 5.1/10

Value: 6.8

Growth: 5.2

Quality: 7.4

Yield: 4.4

Momentum: 4.0

Volatility: 3.0

1-Year Total Return ->

View Full Report
Stock-Card
Barratt Developments

A-Score: 4.6/10

Value: 3.5

Growth: 2.4

Quality: 4.6

Yield: 7.5

Momentum: 3.0

Volatility: 6.3

1-Year Total Return ->

View Full Report
Stock-Card
Vistry

A-Score: 4.2/10

Value: 7.4

Growth: 4.8

Quality: 3.5

Yield: 3.8

Momentum: 3.5

Volatility: 2.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.16$

Current Price

7.16$

Potential

-0.00%

Expected Cash-Flows