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CVS Group (CVSG) Fair Value & Analysis

Healthcare · GB · Market cap 884M GBX

CG CVS Group CVSG · LSE
Price£12.83
Fair Value£6.16
Upside-52.0%
Quality57/100
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Healthy Growth
Thin margins · 7.1% net margin
Moderate debt · generates free cash flow
0.66% dividend yield
Trails peers (4/14)
Narrow moat 40/100
Evidence: High Range £4.62 – £7.70 Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 17, 2026, revised from £6.07 to £6.16 (+1.5%) since Jul 16, 2026. Share price +4.6% over the past month.

A solid business, but screening 52% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (£7.70). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

£26.62 £7.82 Fair Value £6.16 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range £7.82 – £26.62 · fair‑value band £4.62 – £7.70 · the £12.83 price screens above the £6.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

CVS Group (CVSG) currently trades at £12.83, while our model-based Fair Value estimate is £6.16, implying the stock looks roughly 52.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, CVS Group generated revenue of £693M at a net margin of 7.1%. Revenue grew 5.8% year over year. It earns a return on equity of 6.1%. Net debt stands at £233M. Fundamentals as of Jul 17, 2026

Our scenario range runs from £4.62 (bear case) to £7.70 (bull case); at £12.83, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -52%, CVSG screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF £6.39 £12.29 £21.14 80
Residual Income £3.26 £3.31 £3.19 76
Rev-Margin DCF £6.85 £14.17 £24.04 74
All 26 models by family
DCF Models
FCF DCF £6.62 £13.58 £24.86 38
Owner Earnings £6.89 £14.07 £25.70 31
5Y Revenue Exit £6.85 £14.43 £24.98 39
5Y EBITDA Exit £13.14 £27.90 £47.18 41
5Y P/E Exit £3.57 £7.40 £11.78 38
10Y Revenue Exit £6.35 £13.22 £24.27 36
10Y EBITDA Exit £10.51 £22.45 £41.91 37
10Y P/E Exit £4.61 £8.40 £13.78 35
Earnings-Based
Graham-Dodd £1.90 £10.10 £13.98 54
Lynch FV £2.78 £3.97 £5.16 50
PEG = 1.0 £2.78 £3.97 £5.16 46
EPV £4.37 £5.29 £6.06 59
Dividend Discount
Gordon GGM £0.6400 £1.16 £1.59 70
DDM Multi-Stage £0.6400 £1.06 £1.24 61
Multiples
P/E Multiple £4.62 £6.16 £7.70 63
P/S Multiple £3.57 £4.76 £5.95 58
P/B Multiple £3.57 £4.76 £5.95 55
EV/EBIT £10.88 £15.31 £19.74 53
EV/EBITDA £18.36 £25.28 £32.20 54
EV/Revenue £7.08 £11.14 £15.21 43
Asset-Based
NCAV (Graham) £2.17 £2.91 £4.35 50
Growth DCF
Growth DCF £6.39 £12.29 £21.14 80
Rev-Margin DCF £6.85 £14.17 £24.04 74
Economic Profit
Residual Income £3.26 £3.31 £3.19 76
ROIC Compounder £4.38 £6.25 £8.26 72
Growth Earnings
Growth-Adj P/E £4.22 £6.02 £7.83 68

Widest divergence: DCF Models (£13.58) versus Dividend Discount (£1.06). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 693M GBX
Revenue growth (YoY) +5.8%
Net margin 7.1%
Return on equity 6.1%
Free cash flow 55.7M GBX FY2025
P/E ratio 55.8
More key figures
Operating margin 6.2%
EPS (TTM) £0.2300
Dividend yield 0.7%
EPS growth (YoY) -30.2%
Net debt 233M GBX FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 57 · Market factors (momentum, volatility) 51

Profitability 45
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

CVS Group plc, together with its subsidiaries, engages in veterinary, online pharmacy, and retail businesses in the United Kingdom and Australia. It operates through the Veterinary Practices, Laboratories, and Online Retail Business segments. The company is involved in animal veterinary practices and complementary veterinary diagnostic businesses.

Full company description

CVS Group plc, together with its subsidiaries, engages in veterinary, online pharmacy, and retail businesses in the United Kingdom and Australia. It operates through the Veterinary Practices, Laboratories, and Online Retail Business segments. The company is involved in animal veterinary practices and complementary veterinary diagnostic businesses. It also operates Animed Direct, an online retail business that sells prescription and non-prescription medicines, pet foods, and other pet care products, as well as an online dispensary. In addition, the company provides veterinary instrumentation supply and property development services. The company was founded in 1999 and is headquartered in Diss, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CVS Group reported revenue of £673M in FY2025 versus £510M in FY2021, a compound +7.2%/yr. Reported net income was £19.3M in FY2025, compounding +0.0%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
£673M
Latest YoY
+4.0%
Avg. growth/yr (3Y)
+6.7%
Avg. growth/yr (5Y)
+9.5%
Avg. growth/yr (20Y)
+21.9%
Revenue +7.2%/yr
FY21 £510M
FY22 £554M
FY23 £589M
FY24 £647M
FY25 £673M
Net income +0.0%/yr
FY21 £19.3M
FY22 £25.7M
FY23 £41.9M
FY24 £6.2M
FY25 £19.3M

CVSG screens 52% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "CVS Group Fair Value". https://www.fairvalue-calculator.com/stock/CVSG

Peer Group

Medical Care Facilities · 262 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −52% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 4% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.61× · Higher than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 55.8× · Pricier than 75% of peers
P/B 3.98× · Pricier than 75% of peers
P/S (TTM) 1.72× · Pricier than median
P/FCF 21.4× · Pricier than 75% of peers
EV/EBITDA 15.0× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 22
FUTURE 29 · sector 24
PAST 24 · sector 30
HEALTH 70 · sector 90
DIVIDEND 13 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is CVS Group (CVSG) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of £6.16 versus a price of £12.83, about −52% (overvalued).
What is the fair value of CVSG?
Our model-based fair value for CVS Group is £6.16 (as of Jul 17, 2026), built from audited fundamentals. The current price is £12.83.
What is the quality score of CVSG?
CVS Group has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CVS Group (CVSG)?
CVS Group reported trailing-twelve-month revenue of about £693M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of CVSG?
The net profit margin of CVS Group is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. Based on the latest reported figures.
Does CVS Group pay a dividend?
CVS Group currently shows a dividend yield of about 0.68% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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