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1. Company Snapshot

1.a. Company Description

Fuller, Smith & Turner P.L.C. operates pubs and hotels in the United Kingdom.It operates through Managed Pubs and Hotels, and Tenanted Inns segments.The company also manages pubs operated by third parties under tenancy or lease agreements.


In addition, it operates Bel & The Dragon and Cotswold Inns & Hotels.Further, it operates as a managed houses service company.The company offers its beers under the London Pride, Frontier, ESB, Organic Honey Dew, Wild River, Session IPA, Oliver's Island, Seafarers, Swing low, Unfiltered Lager, Juicy IPA, Table Beer, Vintage Ale, HSB, London Porter, 1845, and Golden Pride brand names.


Fuller, Smith & Turner P.L.C. was founded in 1845 and is based in London, the United Kingdom.

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1.b. Last Insights on FSTA

Fuller, Smith & Turner P.L.C.'s recent performance was negatively impacted by concerns over its ownership structure. As individual investors hold a significant 55% stake, the company's decision-making process may be influenced by short-term interests rather than long-term strategies. Furthermore, the recent £21 million share buyback program, while positive for shareholders, may not be sufficient to offset the impact of this ownership dynamic. Additionally, the company's beer sales have been declining, with a 3.6% drop in Q1 2024, mainly attributed to a decrease in sales in its managed pubs business.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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3 UK Dividend Stocks To Consider With At Least 3% Yield

Nov -18

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Fuller Smith & Turner (LON:FSTA) Has Announced A Dividend Of £0.0785

Nov -15

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Fuller, Smith & Turner P.L.C.'s (LON:FSTA) Stock Is Going Strong: Have Financials A Role To Play?

Nov -13

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Fuller Smith & Turner (LON:FSTA) shareholders have endured a 16% loss from investing in the stock a year ago

Aug -07

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Is Fuller, Smith & Turner P.L.C. (LON:FSTA) Expensive For A Reason? A Look At Its Intrinsic Value

Jul -17

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Exploring European Undervalued Small Caps With Insider Buying For June 2025

Jun -27

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Insider Activity Highlights These 3 Undervalued Small Caps In Global

Jun -26

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European Small Caps With Insider Buying Highlight 3 Undervalued Picks

Jun -26

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.59%)

6. Segments

Managed Pubs and Hotels

Expected Growth: 4.5%

Fuller, Smith & Turner's managed pubs and hotels segment growth of 4.5% is driven by strategic acquisitions, refurbishments, and investments in digital platforms. Strong brand reputation, quality food and beverage offerings, and exceptional customer service also contribute to growth. Additionally, the company's focus on premiumization, diversification of revenue streams, and cost control measures have helped to drive profitability and expansion.

Tenanted Inns

Expected Growth: 5.5%

Fuller, Smith & Turner's tenanted inns segment growth of 5.5% is driven by strategic pub acquisitions, increasing average earnings per pub, and a focus on premiumization. Additionally, the company's investment in digital platforms and marketing initiatives has enhanced customer experience, leading to increased sales and revenue growth.

7. Detailed Products

Brewery

Fuller's is a renowned brewery that produces a range of cask and keg beers, including London Pride, ESB, and Oliver's Island.

Pubs and Hotels

Fuller's operates a portfolio of over 400 pubs, inns, and hotels across the UK, offering a range of food, drink, and accommodation options.

Inns

Fuller's Inns offer a range of accommodation options, from budget-friendly rooms to luxury suites, often with on-site dining and drinking facilities.

Tenanted Inns

Fuller's Tenanted Inns provide entrepreneurs with the opportunity to run their own pub business, with support from Fuller's.

Managed Pubs and Hotels

Fuller's Managed Pubs and Hotels are operated directly by Fuller's, offering a range of food, drink, and accommodation options.

Brewery Tours

Fuller's offers guided tours of its historic Griffin Brewery, providing a behind-the-scenes look at the brewing process.

8. Fuller, Smith & Turner P.L.C.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Fuller, Smith & Turner P.L.C. is medium due to the presence of alternative beverages and leisure activities.

Bargaining Power Of Customers

The bargaining power of customers is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the company's dependence on a few large suppliers for raw materials.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the brewing and pub industry.

Intensity Of Rivalry

The intensity of rivalry is high due to the competitive nature of the brewing and pub industry, with many established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 25.53%
Debt Cost 7.27%
Equity Weight 74.47%
Equity Cost 7.63%
WACC 7.54%
Leverage 34.27%

11. Quality Control: Fuller, Smith & Turner P.L.C. passed 1 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
Fuller Smith & Turner

A-Score: 5.2/10

Value: 7.8

Growth: 5.8

Quality: 3.4

Yield: 5.6

Momentum: 1.0

Volatility: 7.3

1-Year Total Return ->

Stock-Card
Young's

A-Score: 4.6/10

Value: 5.6

Growth: 4.0

Quality: 3.1

Yield: 3.8

Momentum: 3.0

Volatility: 8.3

1-Year Total Return ->

Stock-Card
Loungers

A-Score: 4.5/10

Value: 3.8

Growth: 9.1

Quality: 3.0

Yield: 0.0

Momentum: 6.5

Volatility: 4.7

1-Year Total Return ->

Stock-Card
Wetherspoon

A-Score: 4.4/10

Value: 7.4

Growth: 5.1

Quality: 2.7

Yield: 1.2

Momentum: 3.5

Volatility: 6.7

1-Year Total Return ->

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Marstons

A-Score: 4.3/10

Value: 9.1

Growth: 5.7

Quality: 3.1

Yield: 0.0

Momentum: 3.5

Volatility: 4.3

1-Year Total Return ->

Stock-Card
HelloFresh

A-Score: 3.2/10

Value: 8.9

Growth: 5.3

Quality: 3.4

Yield: 0.0

Momentum: 1.0

Volatility: 0.7

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.06$

Current Price

7.06$

Potential

-0.00%

Expected Cash-Flows