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UK operator of an online consumer-review platform that businesses use to collect and display customer reviews.
UK operator of an online consumer-review platform that businesses use to collect and display customer reviews.
Businesses pay a monthly or annual subscription for tools to invite customers to leave reviews, display them on their own sites and analyse them, while consumers write reviews for free, so reviewers are the supply and companies the payers. It listed in London in 2021.
In one line: A UK Yelp for businesses across all industries.
Moat: narrow (network effects, brand, data). Large accumulated review database and brand recognition create switching costs.
Headquarters: London, UK · Founded: 2007 · Employees: 1,108
Size Trustpilot (TRST.L) is a United Kingdom Information Technology company (Internet Software/Services) with a market value of $1.36B, the 194th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £265.00 on 6 Nov 2026.
Performance Over six months the shares gained 11.8%, against -6.0% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 19.4% over the last twelve months (peer median +6.7%); the operating margin is 5.0% (peer median 10.5%).
Valuation It trades at 52.4× forward earnings against a peer median of 12.7× (most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 33% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is +13 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.
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £216M | £198M | £165M | £142M | £121M |
| Revenue growth | — | +20% | +16% | +17% | — |
| Gross profit | £170M | £155M | £127M | £110M | £93.1M |
| EBITDA | £20.2M | £21.0M | £11.4M | £6.42M | -£7.67M |
| Net income | £3.08M | £5.89M | £4.88M | £5.72M | -£11.9M |
| Free cash flow | £45.0M | £44.5M | £20.8M | £16.5M | -£5.20M |
| Capital expenditure | £6.55M | £6.33M | £7.53M | £2.86M | £6.01M |
| Total debt | n/a | £13.5M | £16.1M | £17.9M | £20.5M |
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 |
|---|---|---|---|---|---|---|
| Trustpilot TRST.L | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% |
| Yelp YELP | $1.06B | -28% | +2% | 13% | 8.1× | -18.4% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
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 | TRST.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +13.3% | -1.1% | 2nd highest of 21 |
| 6-month return | +11.8% | -6.0% | 8th highest of 21 |
| Distance from 52-week high | -11.6% | -37.7% | 4th highest of 21 |
| Revenue growth (TTM) | +19.4% | +6.7% | 6th highest of 21 |
| Operating margin | 5.0% | 10.5% | 7th lowest of 21 |
| Forward P/E | 52.4× | 12.7× | most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 32.7% | 1.5% | 2nd most demanding of 15 |
| Growth delivered (Del g) | +20.0% | +10.2% | 4th highest of 15 |
| Hurdle (Req g minus delivered) | +12.7 pp | -9.7 pp | 3rd most demanding of 15 |
| EV / EBITDA | 50.2× | 8.1× | most expensive of 15 |
| Net debt / EBITDA | -0.2× | -1.6× | 7th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Trustpilot TRST.L | United Kingdom | $1.36B | +12% | +19% | 5% | 52.4× | 32.7% | +20.0% |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| CarTrade Tech CARTRADE.NS | India | $1.39B | +40% | +16% | 30% | 47.7× | 34.5% | +25.6% |
| WEBTOON Entertainment WBTN | United States | $1.31B | -27% | 0% | -3% | n/a | n/a | n/a |
| Mony MONY.L | United Kingdom | $1.42B | +21% | +2% | 26% | 11.1× | -0.7% | +5.3% |
| Huawen Media 000793.SZ | China | $1.19B | -34% | 0% | -14% | n/a | 17.8% | -34.6% |
| Weibo 9898.HK | Hong Kong | $1.58B | -24% | +2% | 25% | 5.2× | n/a | n/a |
| Baltic Classifieds BCG.L | United Kingdom | $1.14B | -99% | +7% | 68% | 0.2× | 15.2% | +15.9% |
| Moonpig MOON.L | United Kingdom | $1.13B | +41% | +7% | 21% | 15.2× | 3.7% | +0.3% |
| Ziff Davis ZD | United States | $1.70B | +21% | -8% | 10% | 8.9× | -10.6% | +4.6% |
| Yelp YELP | United States | $1.06B | -28% | +2% | 13% | 8.1× | -18.4% | +10.9% |
| TBO Tek TBOTEK.NS | India | $1.80B | +24% | +74% | 11% | 41.6× | n/a | n/a |
| EverQuote EVER | United States | $1.02B | +41% | +24% | 11% | 14.3× | -7.0% | +14.8% |
| XinhuaNet 603888.SS | China | $1.89B | -7% | -1% | 8% | n/a | 22.6% | +9.3% |
| D-MARKET Elektronik Hizmetler ve Ticaret AS Sponsored ADR HEPS | United States | $979M | -3% | +22% | -3% | n/a | n/a | n/a |
| Sify Technologies Limited Sponsored ADR SIFY | United States | $941M | -20% | +11% | 8% | n/a | n/a | n/a |
| BuySell Technologies 7685.T | Japan | $938M | -28% | +58% | 11% | 15.0× | -1.2% | +46.8% |
| Omada Health OMDA | United States | $924M | +2% | +48% | 0% | 37.1× | 28.7% | +42.9% |
| LegalZoom.com LZ | United States | $897M | -19% | +12% | 4% | 6.7× | 6.1% | +9.9% |
| TeamViewer TMV.DE | Germany | $894M | -5% | +2% | 34% | 5.2× | -11.0% | +10.4% |
| iQIYI, Inc. Sponsored ADR IQ | United States | $886M | -20% | -3% | -2% | n/a | n/a | n/a |