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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Yougov Plc | YOU | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 8.00 | 2.07% | 394.00 | 16:35:05 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 388.00 | 388.00 | 401.00 | 394.00 | 386.00 |
| Industry Sector |
|---|
| MEDIA |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 29/10/2024 | Final | GBP | 0.09 | 28/11/2024 | 29/11/2024 | 09/12/2024 |
| 10/10/2023 | Final | GBP | 0.0875 | 30/11/2023 | 01/12/2023 | 11/12/2023 |
| 11/10/2022 | Final | GBP | 0.07 | 01/12/2022 | 02/12/2022 | 12/12/2022 |
| 19/10/2021 | Final | GBP | 0.06 | 02/12/2021 | 03/12/2021 | 13/12/2021 |
| 06/10/2020 | Final | GBP | 0.05 | 03/12/2020 | 04/12/2020 | 14/12/2020 |
| Top Posts |
|---|
Posted at 05/2/2025 12:17 by aishah Berenberg spies pick-up at YouGovYouGov (YOU) has delivered year-on-year revenue growth, a trend which Berenberg believes the survey and data group can continue to deliver. Analyst Ciaran Donnelly retained his ‘buy’ recommendation but reduced the target price from 810p to 760p on the group, which was trading up 3.6% at 375p on Tuesday. Its shares are down 69% over the past year. In a trading update up to the end of January, the company revealed revenue had grown modestly in what Donnelly described as ‘challenging conditions’, with the data products division returning to underlying growth. The company also confirmed chief executive Steve Hatch will step down and current chair and co-founder Stephan Shakespeare will take on the role in the interim. ‘The outlook points to a continuation of modest year-on-year revenue growth in the second half,’ he said. ‘In terms of forecasts, we reduce our full-year 2025 revenue forecast by 1.5% and adjusted EBIT by 4%.’ Donnelly said the shares are trading on a full-year 2025 price-to-earnings of 11 times and a 50% discount relative to the two-year average |
Posted at 26/1/2025 08:55 by xtrmntr YouGov (YOU) chief executive Steve Hatch has only been in the hot seat for 18 months, but a already scathing shareholder letter has called for his removal in a bid to revive the Aim-traded data company's ailing share price. Is the current boss set for the chop?In the letter to YouGov's board last week, activist investor Gatemore called Hatch's tenure "a disaster" and argued that "the market has lost faith in his leadership". Gatemore, which bought into the company last year, had already called for a strategic review adn possible sale of the business last November. The company's shares are heavily trailing the wider Aim market after plummeting by two-thirds over the past year (and have now lost almost 40 per cent over five years). The board has struggled to reassure the market about YouGov's long-term potential. Return of the king?Gatemore is now calling for former chief executive and co-founder Stephan Shakespeare to return as interim boss to oversee a strategic review that could result in YouGov leaving the public market. Shakespeare has previously suggested that a US listing could make sense for YouGov after its January 2024 acquisition of GfK's consumer panel services (CPS) significantly increased the size of the business. But Gatemore thinks YouGov should ultimately be taken private, and it believes that a new management team could deliver a sale at a roughly 85 per cent premium to the current share price.Shakespeare remains a notable shareholder in YouGov with his 1.53 per cent stake. Hatch, who was given options in December equivalent to 220 per cent of his base salary as part of a long-term bonus plan, has only a 0.04 per cent beneficial interest in the company's shares. Part of the problem for YouGov of late inconsistent as Gatemore points out has been financial guidance. The shares lost almost half their value in a single trading day last June when the company posted a profit warning. Guidance was then revised up just six weeks later and came in slightly higher still at the October results. But the shares are now sitting lower than the June level after a brief rebound in the third quarter of 2024. Analysts at Peel Hunt said late last year that the current management team "is taking the right actions and is on track to meet its cost-savings target". But they noted that "evidence of growth is needed" in the half-year trading statement scheduled for 4 February after a "crucial" budgeting period for the company's clients. Gatemore is a relatively small institutional shareholder in YouGov, with a 1.3 per cent holding through its Special Opportunities Fund. But the company should be concerned about its statement that it has received support for its position from "significant shareholders and industry participants".YouGov did not respond to a request for comment on the new Gatemore letter. A data products problemAt the heart of YouGov's woes is a slowdown at its data products unit, its highest-margin business, which generates a greater adjusted operating profit than each of the other two businesses (research and CPS). Central to improved cash flow growth hopes and market sentiment is the company getting to grips with issues around price competition and demand. Slower than expected revenue and pressure from competition (such as Morning Consult in North America and GWI in the UK) at the unit has dented investor confidence, while the narrative turned from growth to action on costs.Revenue at the unit fell 2 per cent in the latest year, while operating profit tumbled by over a quarter and the margin plunged by 10 percentage points. The company anticipates improved sales momentum in the second and third quarters of this year. But analysts expect muted single-digit sales growth for data products until at least 2027. Taking a step back, YouGov has managed company-wide revenue growth of 17 per cent and operating profit growth of 28 per cent on a 10-year compound annual growth rate basis.The FactSet consensus is for revenue and operating profit growth of 16 per cent and 27 per cent, respectively, in the year to July 2025 on the back of a full year for CPS. Further out, the company's unchanged medium-term targets of £650mn of revenue and an operating profit margin of 25 per cent suggest that it remains confident of significant growth ahead, though Gatemore has asked for more detail on the plans being put in place to achieve these goals. The share price crash has left YouGov trading on 10 times forward consensus earnings, half the level of last spring.The company has notable financial and strategic strengths and a significant market opportunity. But Hatch should perhaps muse upon UBS's comment that "one way to accelerate the rehabilitation process is full and transparent communication with investors and analysts". A more robust approach is clearly needed. |
Posted at 07/1/2025 22:58 by maddox The takeover of GfK by Nielson presented an opportunity too good to turn down and they got the CPB unit for a price lower than YOU was itself valued at - at the time. So, a value enhancing deal. Also, the debt financing isn't stretching the balance sheet at 1.7x and interest covered 9.7x EBITDA. Unfortunately, the way you have to account for a takeover, particularly when it's proportionately large - wrecks the P&L. Nevertheless, the takeover was the correct decision.Rather than the CPB acquisition, YOU geared-up for growth when a decline arrived. Could or should YOU management have seen this - difficult to judge? Put the two factors together and a profit warning and it doesn't look pretty. Question is, whether this is one of the most compelling recovery plays for 2025? |
Posted at 30/12/2024 11:54 by maddox Hi saltaire,It's not very clearly stated in the accounts I grant you, but GfK's CPS unit only started contributing from the 9 January 2024 - so about 7 months. It'll also take some time to complete the integration - so cost synergies will take time to come through as they move the business onto their own platform. In the meantime investment will be required. On the headline FY24 numbers I estimate that they paid 1.7x sales and 6.3x EBITDA. So, a bargain I'd say. CPS is a very good strategic fit - it gives YOU a strong position in the FMCG and Retail Sectors. The CPS acquisition costs conflated together with an unexpected down-turn down and profit warning has led to a savage 68% fall in the share price to 414p as I post from the 1285p 12-month highpoint. Investors anticipate that profit warnings typically come in threes - so bail-out on the first. Whether there is a second and a third profit warning will depend on how well the Management Team handle the CPS integration and their other investments, as well as coping with what looks like increasingly challenging market. I'll be watching closely as this is one of those 'acid-test' moments when you get to assess their acumen. So, circumstances have potentially presented us with the opportunity to buy a quality business at an historically great price. YOU has been a very highly rated share trading on a p/e of well over 30 but now with the positive sentiment reversing YOU's p/e is down to 11. The downside risk looks limited. YOU certainly doesn't look at risk of going bust with debt at 1.7x and interest covered 9.7x EBITDA. Whilst it may sill get worse from here I can see a pathway to a share price recovery. Definitely a share for the Contrarian Investor. ;-) |
Posted at 19/11/2024 06:04 by xtrmntr Peel Hunt: YouGov turnaround progressingYouGov (YOU) trades on a 'compelling' valuation as it remains on track with its turnaround, but evidence of growth will be needed in January, says Peel Hunt.Analyst Jessica Pok reiterated her 'buy' recommendation and target price of 720p on the consumer survey and analytics group, which retreated 2.4% to 439p on Monday, 9p and has slumped 64% in 2024.Pok is 'building conservatism' into her forecasts as the business heads into 2025 'mainly to account for continued product investment'.However, she said management is 'taking the right actions and is on track to meet its cost-savings target, while continuing to invest in growth'.'As we enter the key client budgeting period for 2025, signs of increased sales momentum during this time would benefit the rest of the year,' she said.'YouGov's targeted product upgrades and new launches should support this process.'Pok is anticipating signs of top-line growth in the January trading update and said the 'valuation remains compelling' but 'evidence of growth is needed in the January update to boost the shares further'. |
Posted at 01/11/2024 18:49 by xtrmntr Shareholders in YouGov (YOU) were probably expecting a fairly glum analysis of the group's full-year figures following the summer profit warning, but the shares were marked up sharply on results day.In January, YouGov completed the 315mn (£263mn) deal to acquire the consumer panels services (CPS) business of Nuremberg based GfK, a move deemed "transformative" by management. Given the subsequent 60 per cent increase in administrative expenses, shareholders would be entitled to ask what long-term impact the group's metamorphosis will have on its cost base.Unfortunately, given where we are in the integration process that's probably unknowable at this stage, not least because the full extent of rationalisation measures has yet to be brought to bear. Management has taken initial action to reduce annualised costs by around £20mn, but the bottom line is that the increase in leverage brought about by recent M&A activity is atypical where YouGov is concerned, so management will look to retire debt as soon as practicable. We'll get a more meaningful idea of how the business is faring post-acquisition when the group's interim figures are released in March, but full-year revenue was ahead of guidance, while adjusted operating profit edged up 1 per cent to £49.6mn, partly thanks to the contribution from CPS. Unfortunately, the underlying margin contracted by 400 basis points due to faltering sales growth and increased staff and technology costs.The group has not been immune to the general slump in demand for B2B services of all stripes, a situation which will hopefully reverse if the cost-of-capital continues on its downward path. The good news is that the group's Americas segment saw underlying sales growth of 8 per cent, "driven by an increase in spend from the technology sector and multi-year tracking studies".Although a step-up in M&A activity invariably gives way to intensified scrutiny on the part of investors, YouGov is faced by the dual challenge/opportunit |
Posted at 16/10/2024 11:55 by fuji99 Semperlucrum: "I fear an equity raise" - For what ?You fear for your poor shorts Mr Sceptic, now becoming a real scum! Most on here are long term holders and won't sell to take you out of your misery. Can you read below ? "As of 31 July 2024, the Group remains well capitalised, with approximately £70 million in cash and cash equivalents on the balance sheet and €16 million of the revolving credit facility remains undrawn." For your info, £10 - £12 by end of 2025 is a certainly and worth waiting. |
Posted at 25/6/2024 15:51 by ggrantsu Catabrit...really good to see someone on here confronting what is the correct issue. You are on the right trail...it is all about the competitive landscape...and it is looking horrific.YouGov has been a stellar story...one of the best UK growth names out there. I am becoming more and more convinced however that last week could be the start of something long, deep and prolonged - and painful on all three fronts. If the 40% cut were a demand led issue...I would be buying with both hands. It isn't though...its a very aggressive supply side effect...it is a supply side effect that isn't effecting the likes of Ipsos (and I suppose YouGov's custom research side) because in spite of YouGov putting all the focus on 'data products', the custom research done by Ipsos et al actually has some very strong barriers to entry. You hit the nail on the head Catabrit...data products, which drove the profit warning, I'm beginning to discover has barriers to entry that are next to nil. You need a data analysis operation, which all these small players who are much cheaper have, and then a way to rent out third party panel data. That's it. So all of these people now doing this and price undercutting YouGov are probably providing a pretty decent solution...you use the correct word...it is commoditized. Heavily so. It's almost a little like watching a plane crash in slow motion...YouGov have staked everything on higher margin data products to deliver their medium-term targets, and now all of a sudden you have these very ugly industry dynamics hitting them like a train. And what's worse...the sales cycle is massively elongated i.e. clients go to a smaller player for at least a year on subscription...compl The best case scenario is that clients return to YouGov, unsatisfied by these smaller players who do not own their own data - and maybe YouGov is right...they are uniquely positioned given the panel they own. But that is a while off and still the best scenario. I'm beginning to think that maybe optimistic...and that actually what is going on is an irreversible industry shift. I'm seeing very limited evidence to the contrary...some smaller operators are experiencing financial difficulty and there are reports of third party panel data being used which is sub par...but in all honesty, I think this is potentially a complete disaster for YouGov medium term... Prediction is that we get an update where the medium term targets are completely diced. When these higher rated growth/quality stories go wrong, it is a long way to the bottom. In this instance, it's not some short term recession induced problem...think it is a lot more serious. |
Posted at 21/6/2024 15:03 by fuji99 Justice: Yes they did.YouGov PLC YouGov completes the acquisition of GfK's CPS (0177Z) 09/01/2024 7:00am UK Regulatory YouGov plc ("YouGov" or "the Group" or "the Company") YouGov completes the acquisition of GfK's Consumer Panel Services Extends YouGov's Offering with Established Leader in European Household FMCG Consumer Insights YouGov plc (AIM: YOU) ("YouGov"), the international market research and data analytics group, is pleased to announce the completion of its acquisition of the Consumer Panel Services of GfK GmbH ("CPS GfK"). CPS GfK is an established leader in household purchase data, with panels across 18 European countries, consisting of over 100,000 households. As announced on 6 July 2023, YouGov agreed to acquire CPS GfK in an all-cash transaction for a headline purchase price of EUR315 million. The transaction was financed with proceeds from the equity raise completed in July 2023 and our new EUR280 million term loan facility as announced on 2 October 2023. YouGov's investment into a carefully planned and considered integration programme will ensure a seamless transition for CPS GfK clients and colleagues and enable both companies to capitalise on each other's strengths from day one. CPS GfK's capabilities are strategically aligned with YouGov, adding highly engaged panels across the European market and technology to capture and analyse consumer purchasing data. The acquisition will support our continued growth by expanding our combined offering to existing clients in our current markets, as well as the opportunity to win new clients and roll out into new markets, including in the US which remains our key strategic growth focus. YouGov has a long history of investing in innovative, new technologies and products to drive long-term growth and continuing that journey with CPS GfK will help our combined business to realise our vision of becoming a leading provider of shopper, marketing and opinion data. Steve Hatch, CEO of YouGov, commented: "We are excited to welcome CPS GfK and its brilliant team to the YouGov fold. The completion of this transaction is a notable step in fulfilling our mission as a company to give the world a voice and to help organisations of all types make better decisions by creating value for people and organisations around the world. "This acquisition enhances our customer value proposition with one of the richest behavioral data sets on FMCG and Retail consumer insights. Together, we're able to help our clients perfect the full shopper journey - across advertising, location, and media - by understanding what consumers think, feel and buy. This unmatched combination enables us to create more value for our clients and partners than ever before and we look forward to working closely with the CPS GfK team and clients." Stefan Heremans, President, CPS GfK: "For over 60 years, CPS GfK has provided clients with insight into what shoppers buy and why they buy it. As we become part of the YouGov family, our clients can expect the same quality data they have always enjoyed. We are now excited that we will further deepen their relationships with us through YouGov's exceptional data on consumer opinions, motivations, wants and media habits. "CPS GfK and YouGov have a lot in common - including our high-quality panels where millions of people share their data with us every hour of every day and our industry-leading data which provide clients with certainty. We look forward to investment in our platforms, products and panellists, to give our clients the most comprehensive view of the consumer journey across the region. We're excited for this new chapter in our long history that creates more value for people and for businesses around the world." |
Posted at 20/6/2024 11:51 by ggrantsu Mortal1ty...you make some good comments tbf. In terms of competition, I made these notes when looking at YOU in detail. 'Smaller new entrants in many instances possess innovative technology in terms of data analytics; however, they do not possess historical panel data that in anyway mirrors YouGov’s own. Basically, YouGov’s own panel data is a difficult to replicate asset. These smaller operators are in many instances utilising third-party rented panel data, and there have been many reports of fraudulent and misleading data being used. The following competitors are examples of the kind of entrants YouGov has seen:• Cint Group AB (ticker CINT) - A panel aggregator that has had issues with fraud. • Dynata – A panel aggregator that filed for a Chapter 11 last month. • GWI – A ‘thinner version’ competitor of YouGov Profiles based in the UK. They have no panel (relying on third party data). They are selling their offering at low prices as the Group needs to demonstrate growth to its PE investors. • MorningConsult – A US competitor to BrandIndex. Like GWI, they are struggling to justify lofty valuations and need to show growth and hence have slashed prices. It is loss making and, like GWI, relies on third-party data.' So basically...they have these short/medium term pressures, but there is certainly a plausible view that at some point they should come out as a long term winner. Owning their large, historic panel, is actually a big plus...doesn't detract from the immediate reality. I think your point re bids is interesting...and makes me realise I'm probably being optimistic. By any chance, do you have the Keywords EV/EBITDA takeout multiple to hand? I think that is a good reference point for us here...IMO, YouGov is a better business than Keywords (just my opinion). |
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