Begbies Traynor’s FY25 results convincingly illustrate the strength of its multi-disciplinary professional advisory team. FY25 revenue rose 12% to £153.7m, including 10% organic growth, and Adj. PBT margin remained high at 15.3%. FCF pre acquisitions of £19.4m funded acquisitions, share buy-backs and progressive dividends. Moreover, the macro-economic environment continues to be supportive and with an increased insolvency order book management is confident in FY26E growth. We raised our fair value to 150p in May 2025, equivalent to c.13.5x cal 2026 PER, and believe Begbies’ shares remain materially underrated.
Begbies Traynor Group: Equity Development
Jul 8, 2025Disclaimer & Declaration of Interest
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