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1. Company Snapshot

1.a. Company Description

Cimpress plc provides various mass customization of printing and related products in North America, Europe, and internationally.The company operates through five segments: Vistaprint, PrintBrothers, The Print Group, National Pen, and All Other Businesses.It offers printed and digital marketing products; internet-based canvas-print wall décor, business signage, and other printed products; business cards; and marketing materials, such as flyers and postcards, digital and marketing services, writing instruments, decorated apparel, promotional products and gifts, packaging, design services, textiles, and magazines and catalogs.


The company also manufactures and markets custom writing instruments and promotional products, apparels, and gifts; and provides professional desktop publishing skill sets for local printers, print resellers, graphic artists, advertising agencies, and other customers.In addition, it offers graphic design services, do-it-yourself (DIY) design services, website services, and corporate solutions under the VistaPrint, VistaCreate, 99designs by Vista, Vista Corporate Solutions, and Vista x Wix brand names; and online printing solutions.Further, the company provides promotional and packaging products, logo apparel, books and magazines, wall decors, photo merchandise, invitations and announcements, and other categories; and website design and hosting, and email marketing services, as well as order referral and other third-party offerings.


The company serves various businesses, graphic designers, resellers, and printers, as well as teams, associations, groups, consumers, and families.Cimpress plc was founded in 1994 and is based in Dundalk, Ireland.

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1.b. Last Insights on CMPR

Cimpress plc's recent performance was driven by a 4% revenue rise in Q4, surpassing estimates. The company's growth momentum was fueled by a strong quarterly earnings report, despite a loss per share of $1.02. A solid revenue beat and a robust Q&A call with investors showcased the company's confidence. Cimpress's industrials sector outperformance, with a 9% return year-to-date, also contributed positively. Additionally, the company's focus on growth and analyst optimism, as noted by industry experts, has been a key driver.

1.c. Company Highlights

2. Cimpress' Q1 FY2026 Earnings: A Strong Start to the Year

Cimpress reported a revenue growth of 7% on a reported basis and 4% on an organic constant currency basis in Q1 FY2026. The company's adjusted EBITDA increased by $10.9 million year-over-year, driven by a 5% growth in gross profit dollars. However, gross margins contracted by 80 basis points due to the ongoing product mix shift. Cimpress' EPS came in at $0.3, beating estimates of $0.29. The company's financial performance was driven by the strength of Vistaprint, which grew revenues from promotional products, apparel, and gifts at double-digit rates year-over-year.

Publication Date: Nov -04

📋 Highlights
  • Revenue Growth and Elevated Products:: Consolidated revenue grew 7% (4% organic), driven by Vistaprint’s double-digit growth in elevated products (promotional items, apparel, gifts).
  • Adjusted EBITDA Expansion:: Increased $10.9M YoY, with gross profit up 5%, despite 80bps margin contraction from product mix shifts.
  • Cross-Cimpress Fulfillment Impact:: Generated $15M incremental gross profit in FY25, with multiyear layering potential for profit growth.
  • 2026 Guidance Reaffirmed:: Revenue growth of 5–6% (2–3% organic), EBITDA of ≥$450M, and $72M+ net income, supported by operational efficiency.
  • 2028 Strategic Targets:: Aims for $600M+ EBITDA and $200M+ net income, leveraging elevated products, manufacturing excellence, and cost discipline.

Operational Highlights

Cimpress' operational performance was driven by its strategic focus on elevated products, which are typically in the early stages of market disruption. The company's manufacturing excellence initiatives, including Cross-Cimpress fulfillment (XCF), drove an incremental $15 million of gross profit in the last fiscal year. XCF is a key enabler, connecting fulfillment operations of each business to customer-facing operations of other businesses.

Guidance and Outlook

Cimpress reiterated its expectations for fiscal year 2026 revenue growth of 5% to 6% or 2% to 3% organic constant currency. The company expects net income of at least $72 million and adjusted EBITDA of at least $450 million. Cimpress also expects operating cash flow of approximately $310 million and adjusted free cash flow of approximately $140 million. The company's guidance suggests that it is on track to meet or exceed its expectations for the full year.

Valuation and Growth Prospects

Cimpress' current valuation metrics suggest that the market is pricing in a moderate growth rate. The company's P/S Ratio is 0.49, and EV/EBITDA is 9.1. Analysts estimate revenue growth at 6.6% for the next year. With a ROIC of 4.83% and a Net Debt / EBITDA ratio of 4.25, Cimpress has a significant debt burden. However, the company's focus on executing its plans to drive efficiency gains and its clear path to fiscal '28 EBITDA of at least $600 million are positive indicators for future growth.

Activist Investor and Shareholder Value

Cimpress has had discussions with Spruce House, an activist investor who filed a notice of intent to nominate a slate of director candidates. The company appreciates their feedback and is focused on executing its plans to drive shareholder value. Cimpress believes that its recent share price does not reflect the company's intrinsic value, and it is working to deliver long-term value to its shareholders.

3. NewsRoom

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VistaPrint Appoints Dave DeSandre as SVP of North America Category Management

Dec -03

Source: businesswire.com

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Cimpress plc (CMPR) Presents at Bank of America Leveraged Finance Conference Transcript

Dec -02

Source: seekingalpha.com

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Cimpress Exhibits Strong Prospects Despite Persisting Headwinds

Nov -20

Source: zacks.com

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Cimpress to Present at Upcoming Investor Conferences

Nov -13

Source: businesswire.com

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Teacher Retirement System of Texas Purchases New Stake in Cimpress plc $CMPR

Nov -05

Source: defenseworld.net

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Cimpress Q1 Earnings Beat Estimates, Revenues Increase Y/Y

Oct -31

Source: zacks.com

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Cimpress plc (CMPR) Q1 2026 Earnings Call Transcript

Oct -30

Source: seekingalpha.com

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Cimpress (CMPR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Oct -30

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.69%)

6. Segments

Vista

Expected Growth: 5%

Vista's 5% growth is driven by increasing demand for digital marketing solutions, expansion into new markets, and strategic acquisitions. The company's focus on customer experience, innovative product offerings, and operational efficiency also contribute to its growth. Additionally, the rising trend of online presence and e-commerce adoption among small and medium-sized businesses fuels Vista's growth.

Print Brothers

Expected Growth: 4%

Print Brothers' 4% growth is driven by increasing demand for customized printing products, expansion into new markets, and strategic investments in e-commerce platforms. Additionally, the company's focus on operational efficiency and cost savings initiatives have contributed to its growth. Furthermore, the rise of digital marketing and the need for businesses to establish a strong online presence have fueled demand for Print Brothers' services.

National Pen

Expected Growth: 5%

National Pen's 5% growth is driven by increasing demand for personalized promotional products, expansion into new markets, and strategic acquisitions. Additionally, Cimpress' investment in e-commerce platforms and digital marketing capabilities has enhanced customer experience, leading to higher sales and retention rates.

The Print Group

Expected Growth: 5%

The Print Group's 5% growth is driven by increasing demand for customized print products, expansion into new markets, and strategic acquisitions. Additionally, investments in digital marketing and e-commerce platforms have improved customer engagement and retention. Furthermore, the group's focus on operational efficiency and cost savings has enabled it to maintain profitability while investing in growth initiatives.

All Other

Expected Growth: 4%

Cimpress plc's 'All Other' segment growth is driven by increasing demand for mass customization and digital marketing solutions, expansion into new markets, strategic acquisitions, and investments in e-commerce platforms. Additionally, the segment benefits from the company's focus on operational efficiency and cost savings initiatives, which enable it to reinvest in growth opportunities.

Inter-segment Eliminations

Expected Growth: 0%

Cimpress plc's Inter-segment Eliminations with 0% growth is driven by the absence of significant transactions between segments, stable business operations, and a lack of material eliminations. This suggests a well-integrated business model with minimal interdependencies, allowing for efficient resource allocation and a focus on core operations.

7. Detailed Products

Vistaprint Business Cards

Customizable business cards for professionals and entrepreneurs

Vistaprint Marketing Materials

Customizable brochures, flyers, and posters for marketing campaigns

National Pen Promotional Products

Customizable pens, mugs, and other promotional items for businesses

Wix Website Creation

DIY website creation platform for small businesses and entrepreneurs

Webs Digital Services

Website design, development, and hosting services for small businesses

Albumprinter Photo Books

Customizable photo books and albums for personal and professional use

8. Cimpress plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Cimpress plc operates in a highly competitive market, but the threat of substitutes is mitigated by the company's strong brand recognition and customer loyalty.

Bargaining Power Of Customers

Cimpress plc's customers have a high bargaining power due to the availability of alternative products and services, which puts pressure on the company's pricing and profitability.

Bargaining Power Of Suppliers

Cimpress plc has a diversified supplier base, which reduces the bargaining power of individual suppliers, and the company's scale of operations gives it negotiating power.

Threat Of New Entrants

While there are barriers to entry in the industry, new entrants can still disrupt the market, and Cimpress plc needs to continuously innovate to stay ahead of the competition.

Intensity Of Rivalry

The industry in which Cimpress plc operates is highly competitive, with many players competing for market share, which leads to intense rivalry and pricing pressure.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 154.96%
Debt Cost 3.95%
Equity Weight -54.96%
Equity Cost 13.67%
WACC -1.40%
Leverage -281.95%

11. Quality Control: Cimpress plc passed 4 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
Ströer

A-Score: 5.4/10

Value: 6.2

Growth: 5.6

Quality: 5.8

Yield: 8.1

Momentum: 1.0

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Elisa

A-Score: 5.0/10

Value: 3.9

Growth: 4.0

Quality: 6.6

Yield: 8.1

Momentum: 2.5

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
JCDecaux

A-Score: 4.7/10

Value: 7.2

Growth: 4.7

Quality: 4.8

Yield: 3.1

Momentum: 2.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
WPP

A-Score: 4.6/10

Value: 8.7

Growth: 3.6

Quality: 3.5

Yield: 8.8

Momentum: 0.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
FL Entertainment

A-Score: 3.4/10

Value: 3.8

Growth: 5.1

Quality: 4.3

Yield: 0.0

Momentum: 4.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
VistaPrint

A-Score: 3.0/10

Value: 6.2

Growth: 4.8

Quality: 3.9

Yield: 0.0

Momentum: 2.0

Volatility: 1.3

1-Year Total Return ->

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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

70.47$

Current Price

70.47$

Potential

0.00%

Expected Cash-Flows