# Ocado Group plc (OCDO.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Defensive / Food & Staples Retailing. Price 212p, market value 1.8 billionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Ocado Group plc reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.7×**. Each dollar of revenue is priced at 0.7×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.3×**. Enterprise value is 10.3× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 0.5%** (5-yr avg -0.1%). Free cash flow equals 0.5% of the market value, above its five-year average of -0.1%, so the shares are cheaper on cash than they have usually been.

## Profitability
- **Gross margin: -3.2%**. Ocado Group plc keeps -3.2% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -21.9%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: 29.3%**. 29.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 26.0%**. 26.0% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: -19.9%**. Return on all capital, debt included, is -19.9%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.6%**. Each dollar of assets produces 1.6% of profit.

## Growth
- **Revenue growth (1 yr): 13.8%** (3-yr -18.1%/yr, 5-yr -9.9%/yr). Revenue grew 13.8% over the last year, against -9.9% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 209.8%**. Earnings per share rose 209.8%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 1.32**. Debt is 1.32 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 4.4×**. It would take 4.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: -2.3×**. Operating profit covers interest only -2.3×: fragile.
- **Current ratio: 2.00** (quick 1.93). Current assets cover the next year's liabilities 2.00 times.
- **Altman Z-score: 1.21**. A Z-score of 1.21 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Ocado Group plc does not currently pay a dividend, but it returned -0.4% of its market value through buybacks over the last year.

## Analyst view
- **Analyst consensus: hold** (12 analysts). 12 analysts cover Ocado Group plc; the consensus is hold, with an average price target of 238p (+13% 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): -31.1%** (YTD -8.8%, 3-mo 5.0%). The shares are down 31.1% over twelve months including dividends.
- **From 52-week high: -33.3%** (50.8% above the low). Trading 33% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 46**. An RSI of 46 is neutral.
- **Beta (1 yr): 1.14** (volatility 64%). Beta of 1.14 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.