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Size AO World (AO..L) is a United Kingdom Consumer Discretionary company (Internet Retail) with a market value of $687M, the 261st largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £92.50 on 6 Nov 2026.
Performance Over six months the shares gained 6.3%, against +3.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 11.3% over the last twelve months (peer median -4.9%); the operating margin is 3.9% (peer median 2.2%).
Valuation It trades at 13.3× forward earnings against a peer median of 24.7× (4th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is -5%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.8 points above its cost of capital (13.5% WACC).
Credit AO World has 5 bonds outstanding ($3.55B), rated Baa2 by the agencies and trading like BBB- at a weighted spread of 162 bp.
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.27B | £1.27B | £1.14B | £1.04B | £1.14B |
| Revenue growth | — | +11% | +9% | -9% | — |
| Gross profit | £316M | £314M | £273M | £241M | £236M |
| EBITDA | £78.8M | £79.0M | £70.9M | £59.8M | £45.6M |
| Net income | £35.9M | £35.9M | £10.5M | £24.7M | -£2.60M |
| Free cash flow | £91.2M | £91.2M | £47.9M | £53.3M | £18.8M |
| Capital expenditure | £6.00M | £6.00M | £8.90M | £8.30M | £2.20M |
| Total debt | n/a | £64.8M | £63.3M | £70.9M | £95.3M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AO..L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | -1.4% | 6th highest of 21 |
| 6-month return | +6.3% | +3.8% | 9th highest of 21 |
| Distance from 52-week high | -21.2% | -26.7% | 7th highest of 21 |
| Revenue growth (TTM) | +11.3% | -4.9% | 5th highest of 21 |
| Operating margin | 3.9% | 2.2% | 8th highest of 21 |
| Forward P/E | 13.3× | 24.7× | 4th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 3.0% | 19.9% | 4th least demanding of 16 |
| Growth delivered (Del g) | -5.3% | +3.9% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | +8.3 pp | +6.7 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | +9.8 pp | -3.2 pp | highest of 18 |
| EV / EBITDA | 6.3× | 8.9× | 2nd cheapest of 9 |
| Net debt / EBITDA | -0.2× | 1.6× | 5th least indebted of 13 |
| Bond spread | 162 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AO World AO..L | United Kingdom | $687M | +6% | +11% | 4% | 13.3× | 3.0% | -5.3% |
| ASKUL 2678.T | Japan | $682M | +2% | -20% | -5% | 29.2× | n/a | n/a |
| Yiwu Huading Nylon 601113.SS | China | $670M | -28% | -5% | 1% | 41.2× | n/a | n/a |
| ASOS ASC.L | United Kingdom | $670M | +88% | -15% | -1% | n/a | 1.2% | -5.5% |
| Groupon GRPN | United States | $630M | -13% | +2% | 2% | 33.7× | 27.5% | -18.9% |
| Belluna 9997.T | Japan | $629M | +22% | +5% | 8% | n/a | n/a | n/a |
| Global Top E-Commerce 002640.SZ | China | $757M | -12% | -6% | 1% | n/a | 33.4% | -19.8% |
| Aucnet 3964.T | Japan | $824M | +12% | +12% | 15% | 15.5× | 0.1% | +21.6% |
| Hangzhou Onechance Tech Crop 300792.SZ | China | $839M | -32% | -19% | 9% | 46.2× | 19.9% | -3.7% |
| Petco Health & Wellness WOOF | United States | $848M | +5% | -1% | 3% | 12.5× | 6.6% | +3.9% |
| THG THG.L | United Kingdom | $877M | +30% | +10% | -1% | n/a | n/a | n/a |
| Huakai Yibai Technology 300592.SZ | China | $966M | +27% | -11% | 7% | 15.7× | 3.4% | +132.3% |
| HelloFresh HFG.DE | Germany | $483M | -28% | -13% | 0% | 9.7× | 24.1% | +12.5% |
| IndiaMART InterMESH INDIAMART.NS | India | $985M | -26% | +12% | 34% | 17.0× | 8.2% | +18.6% |
| Kits Eyecare KITS.TO | Canada | $462M | +64% | +21% | 4% | 85.5× | 28.3% | +21.9% |
| NanJi E-Commerce 002127.SZ | China | $1.05B | -1% | -28% | -12% | 29.9× | 6.4% | -9.0% |
| MSTC MSTCLTD.NS | India | $439M | +30% | +21% | 58% | n/a | 34.9% | -13.9% |
| Rumere 301088.SZ | China | $422M | -16% | -25% | 1% | 20.3× | 30.8% | -6.9% |
| Akso Health Group Sponsored ADR AHG | United States | $1.14B | -34% | -6% | -29% | n/a | n/a | n/a |
| Vedant Fashions MANYAVAR.NS | India | $1.22B | +6% | +2% | 32% | 29.6× | 21.4% | +21.5% |
| Oisix 3182.T | Japan | $368M | +17% | -5% | 3% | 12.1× | -6.6% | +20.2% |
AO World has 5 bonds outstanding with $3.55B face value. The agencies rate it Baa2; its bonds trade like BBB-. Weighted yield 6.00%, a spread of 162 bp over government bonds.