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UK company serving the over-50s market with cruises, holidays and insurance products.
UK company serving the over-50s market with cruises, holidays and insurance products.
Sells holidays and cruises directly to its customers, with cruises run on its own ships, and sells insurance as a broker, where an insurer takes the claims risk and Saga earns commission and a share of profit. Its customer list, built up since 1951, is the asset all its lines sell to.
In one line: A UK AARP-adjacent travel and insurance company for seniors.
Moat: narrow (brand, scale). Strong brand trust and a niche focus on the over-50s demographic built over decades.
Headquarters: Folkestone, UK · Founded: 1951 · Employees: 2,936
Size Saga (SAGA.L) is a United Kingdom Consumer Discretionary company (Other Consumer Services) with a market value of $1.67B, the 179th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £872.00 on 6 Nov 2026.
Performance Over six months the shares gained 56.3%, against -3.9% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 36.7% over the last twelve months (peer median +4.9%); the operating margin is 15.9% (peer median 15.1%).
Valuation It trades at 18.6× forward earnings against a peer median of 13.3× (6th most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.2 points above its cost of capital (14.2% WACC).
Next results Next results expected around 7 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £699M | £660M | £588M | £565M | £664M |
| Revenue growth | — | +12% | +4% | -15% | — |
| Gross profit | £338M | £310M | £270M | £254M | £403M |
| EBITDA | £143M | £132M | £98.2M | £74.0M | £276M |
| Net income | £22.7M | £13.8M | -£165M | -£113M | -£273M |
| Free cash flow | £159M | £101M | £93.1M | £57.0M | -£34.7M |
| Capital expenditure | £7.90M | £16.1M | £20.1M | £26.7M | £20.8M |
| Total debt | n/a | £651M | £690M | £828M | £897M |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Saga SAGA.L | $1.67B | +56% | +37% | 16% | 18.6× | 12.6% |
| Aviva AV..L | $29.5B | +18% | +86% | 3% | 12.2× | n/a |
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 | SAGA.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.5% | +1.7% | 4th highest of 21 |
| 6-month return | +56.3% | -3.9% | highest of 21 |
| Distance from 52-week high | -6.1% | -28.4% | 5th highest of 21 |
| Revenue growth (TTM) | +36.7% | +4.9% | highest of 21 |
| Operating margin | 15.9% | 15.1% | 10th highest of 21 |
| Forward P/E | 18.6× | 13.3× | 6th most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 12.6% | 2.6% | 4th most demanding of 19 |
| Growth delivered (Del g) | +14.3% | +15.8% | 8th lowest of 19 |
| Hurdle (Req g minus delivered) | -1.8 pp | -22.1 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | +5.2 pp | +3.7 pp | 9th highest of 20 |
| EV / EBITDA | 10.8× | 7.1× | 4th most expensive of 18 |
| Net debt / EBITDA | 2.1× | 1.3× | 6th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Saga SAGA.L | United Kingdom | $1.67B | +56% | +37% | 16% | 18.6× | 12.6% | +14.3% |
| Perdoceo Education PRDO | United States | $1.68B | -25% | +12% | 25% | 9.1× | -16.0% | +4.2% |
| Flight Centre Travel FLT.AX | Australia | $1.72B | +17% | +3% | 7% | 11.4× | 8.5% | +48.5% |
| Changbai Mountain Tourism 603099.SS | China | $1.54B | +8% | +2% | 20% | 71.9× | 15.4% | +39.7% |
| Park24 4666.T | Japan | $1.93B | -2% | +4% | 10% | 6.8× | -5.2% | +8.6% |
| Driven Brands DRVN | United States | $1.96B | -11% | -11% | 15% | 9.6× | 3.3% | +15.5% |
| Shoucheng 0697.HK | Hong Kong | $1.33B | -27% | -1% | 16% | 15.5× | 21.2% | +15.3% |
| Basic-Fit BFIT.AS | Netherlands | $2.23B | +2% | +18% | 12% | 22.0× | 6.5% | +30.4% |
| AcadeMedia ACAD.ST | Sweden | $1.22B | +20% | +8% | 7% | 9.9× | -1.8% | +8.7% |
| Strategic Education STRA | United States | $1.16B | -35% | +4% | 16% | 7.9× | -12.6% | +4.3% |
| Zhang Jia Jie Tourism 000430.SZ | China | $1.15B | -22% | +20% | -81% | n/a | n/a | n/a |
| Boyd Group Services BYD.TO | Canada | $2.48B | -24% | +16% | 5% | 22.1× | 9.4% | +16.0% |
| Peloton Interactive PTON | United States | $2.50B | -1% | -2% | 9% | 18.7× | 7.2% | -9.5% |
| CATARC Automotive Proving Ground 301215.SZ | China | $1.10B | -12% | +23% | 43% | n/a | n/a | n/a |
| Afya AFYA | United States | $960M | -25% | +17% | 32% | 5.9× | -16.3% | +23.2% |
| Sats SATS.OL | Norway | $937M | +10% | +5% | 18% | 15.2× | -5.9% | +10.6% |
| Voyageurs du Monde ALVDM.PA | France | $896M | +28% | +4% | 8% | 18.1× | 1.8% | +46.3% |
| OneSpaWorld OSW | United States | $3.12B | +25% | +10% | 10% | 24.5× | 19.5% | +51.4% |
| Trainline TRN.L | United Kingdom | $887M | -5% | +1% | 27% | 7.9× | -8.0% | +46.5% |
| Stride LRN | United States | $3.15B | -15% | +2% | 19% | 9.5× | -19.1% | +10.4% |
| Webbeds WEB.AX | Australia | $871M | +45% | +20% | 25% | 15.7× | 4.5% | +50.3% |