# J D Wetherspoon plc (JDW.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price 809p, market value 852 millionp.

## Valuation
- **P/E (trailing): 14.2×** (5-yr avg 2119.3×, 3-yr avg 1589.6×). J D Wetherspoon plc trades at 14.2× trailing earnings, well below its own five-year average of 2119.3×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 16.1×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.35**. A PEG of 0.35 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.2×**. Each dollar of revenue is priced at 0.2×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.5×**. The shares trade at 2.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 4.6×**. Enterprise value is 4.6× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 26.0%** (5-yr avg 0.1%). Free cash flow equals 26.0% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 7.1%**. The inverse of the P/E: 7.1% of the price is earned each year.

## Profitability
- **Gross margin: 11.2%**. J D Wetherspoon plc keeps 11.2% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 6.2%**. 6.2% of revenue is left after running the business.
- **Net margin: 3.2%**. 3.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 18.8%**. 18.8% on shareholders' equity is solid.
- **Return on invested capital: 13.9%**. Return on all capital, debt included, is 13.9%.
- **Return on assets: 6.2%**. Each dollar of assets produces 6.2% of profit.

## Growth
- **Revenue growth (1 yr): 4.5%** (3-yr 6.9%/yr, 5-yr 11.0%/yr). Revenue grew 4.5% over the last year, against 11.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 46.2%** (3-yr 56.0%/yr). Earnings per share rose 46.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 11.0%/yr**. Free cash flow has compounded at 11.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 3.24**. Debt is 3.24 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 2.6×**. It would take 2.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 2.0×**. Operating profit covers interest 2.0×, thin but manageable.
- **Current ratio: 0.28** (quick 0.19). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.79**. A Z-score of 1.79 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.48%** (0p per share, trailing). J D Wetherspoon plc yields 1.48%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 29%** (13% of free cash flow). 29% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Shareholder yield: 17.5%**. Dividends plus net buybacks return 17.5% of the market value a year.

## Analyst view
- **Analyst consensus: hold** (8 analysts). 8 analysts cover J D Wetherspoon plc; the consensus is hold, with an average price target of 687p (-15% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 21.0%** (YTD 11.9%, 3-mo 32.2%). The shares are up 21.0% over twelve months including dividends.
- **From 52-week high: -6.5%** (52.4% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 55**. An RSI of 55 is neutral.
- **Beta (1 yr): 1.16** (volatility 32%). Beta of 1.16 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=JDW.L · Page: https://foliofundamentals.com/stocks/jdw.l

Not investment advice.