Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Spire Healthcare Group plc is a leading independent provider of private healthcare services in the United Kingdom, operating as the second-largest in the sector by revenue and a key player in the FTSE 250 Index. Founded in 2007 through the acquisition and rebranding of 25 Bupa hospitals, it manages 38 hospitals, over 50 clinics, medical centres, and consulting rooms across England, Wales, and Scotland, delivering diagnostics, inpatient, day case, and outpatient care in specialties such as orthopaedics, gynaecology, cardiology, neurology, oncology, and general surgery. The group partners with more than 8,740 experienced consultants to provide personalised care to insured, self-pay, and NHS patients, caring for over 1.3 million people in 2024 while serving as the principal independent provider of knee and hip operations by volume. It also operates Vita Health Group and The Doctors Clinic Group for primary care, mental health, dermatological, musculoskeletal services, and occupational health to over 800 corporate clients. Headquartered in London with approximately 15,703 employees, Spire Healthcare emphasises clinical excellence, patient satisfaction, and transparency, including publishing clinical outcomes data, amid a revenue mix from private, self-pay, and NHS contracts.
£2.19
£0.02 (-0.68%)
EOD Jul 3, 2026
Operating margin is thin at 7.55%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.5%, steady but not accelerating.
At 55x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Net debt of £1.28B represents 7.8x FCF, leverage limits flexibility.
54.8x earnings, 5.4x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£1.58B
▲ +4.5% YoY
Net Income (TTM)
£17M
▼ -33.8% YoY
Op. Margin
7.55%
▼ -0.7pp YoY
ROIC
5.40%
▲ +1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£164M
▲ +32.4% YoY
Op. Cash Flow (TTM)
£240M
▲ +87.1% YoY
Net Debt
£1.28B
Cash & Equiv.
£35M
3Y CAGR: +9.6%
3Y CAGR: +20.4%
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At a P/E of 54.8 and a price-to-free-cash-flow of 5.4, Spire Healthcare Group (SPI.XLON) trades below a two-stage DCF intrinsic value of about £6.62 per share, so at £2.19 the stock looks undervalued (202.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Spire Healthcare Group scores 56/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.0%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £6.62 per share for SPI.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £4.97. At today's £2.19, that puts the stock about 202.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Spire Healthcare Group scores 56 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 7.5% operating margin and a 5.4% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Spire Healthcare Group pays a regular dividend of about £0.02 per share per year (typically in quarterly installments), a yield of roughly 1.0% at the current price. That is a payout ratio of about 53.5% of earnings, so the dividend is well covered. Spire Healthcare Group has grown the dividend at roughly 351.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For SPI.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. SPI.XLON currently trades below its estimated intrinsic value and scores 56/100 on quality (mixed). It also yields about 1.0%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.