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UK homebuilder focused on a partnerships model, building mixed-tenure homes with housing associations and councils.
UK homebuilder focused on a partnerships model, building mixed-tenure homes with housing associations and councils.
Builds homes on land owned by councils and housing associations, which pay for the homes as they are built, instead of buying land and waiting for buyers; this reduces exposure to house-price swings. The structure comes from the 2020 merger of Bovis Homes with Galliford Try's housebuilding businesses.
In one line: A UK homebuilder pivoted to a public-private partnership model.
Moat: narrow (scale, distribution). Scale and relationships in the partnerships/affordable-housing niche versus pure private builders.
Headquarters: Coventry, UK · Employees: 4,400
Size Vistry (VTY.L) is a United Kingdom Consumer Discretionary company (Homebuilding) with a market value of $1.12B, the 211th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £263.20 on 6 Nov 2026.
Performance Over six months the shares fell 19.2%, against -11.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 8.0% over the last twelve months (peer median +3.0%); the operating margin is -9.5% (peer median 5.4%).
Valuation It trades at 9.5× forward earnings against a peer median of 16.9× (4th cheapest of 15).
Capital Return on invested capital runs 20.1 points below its cost of capital (12.8% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £3.40B | £3.61B | £3.78B | £3.56B | £2.77B |
| Revenue growth | — | -4% | +6% | +29% | — |
| Gross profit | £193M | £358M | £366M | £506M | £493M |
| EBITDA | -£247M | £204M | £130M | £320M | £247M |
| Net income | -£500M | £138M | £74.5M | £215M | £204M |
| Free cash flow | -£57.9M | £149M | £81.2M | -£66.9M | £102M |
| Capital expenditure | £9.00M | £11.0M | £6.90M | £2.80M | £1.60M |
| Total debt | n/a | £596M | £597M | £605M | £645M |
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 |
|---|---|---|---|---|---|---|
| Vistry VTY.L | $1.12B | -19% | -8% | -9% | 9.5× | n/a |
| Persimmon PSN.L | $5.64B | +22% | +17% | 11% | 13.0× | n/a |
| Taylor Wimpey TW..L | $3.88B | +5% | +9% | 10% | 16.0× | 5.9% |
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 | VTY.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.2% | 0.0% | 2nd highest of 21 |
| 6-month return | -19.2% | -11.2% | 6th lowest of 21 |
| Distance from 52-week high | -64.7% | -28.5% | lowest of 21 |
| Revenue growth (TTM) | -8.0% | +3.0% | 6th lowest of 21 |
| Operating margin | -9.5% | 5.4% | 2nd lowest of 21 |
| Forward P/E | 9.5× | 16.9× | 4th cheapest of 15 |
| ROIC minus cost of capital | -20.1 pp | -0.4 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vistry VTY.L | United Kingdom | $1.12B | -19% | -8% | -9% | 9.5× | n/a | n/a |
| Dream Finders Homes DFH | United States | $1.12B | -13% | -11% | 3% | 441.3× | n/a | n/a |
| CEVIA Enviro 000885.SZ | China | $1.16B | -14% | -2% | 27% | 6.0× | -8.3% | +14.0% |
| LGI Homes LGIH | United States | $1.06B | -2% | -2% | 4% | 17.1× | 18.3% | -6.4% |
| Okumura 1833.T | Japan | $1.19B | -17% | 0% | 5% | n/a | n/a | n/a |
| Black Diamond BDI.TO | Canada | $1.02B | +25% | +26% | 12% | 32.7× | n/a | n/a |
| JSL Construction & Development 2540.TW | Taiwan | $1.25B | -14% | -35% | 3% | n/a | n/a | n/a |
| Nishimatsu Construction 1820.T | Japan | $1.28B | -11% | +14% | 8% | 9.6× | n/a | n/a |
| Huaku Development 2548.TW | Taiwan | $928M | -21% | +331% | 22% | 19.9× | -18.6% | +10.0% |
| Dexterra DXT.TO | Canada | $876M | +59% | +9% | 6% | 24.0× | 5.1% | +17.2% |
| Gemdale 600383.SS | China | $1.45B | -26% | -47% | -24% | n/a | 10.8% | -15.6% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | n/a | 7.8% | -6.8% |
| Run Long Construction 1808.TW | Taiwan | $844M | +10% | +741% | 25% | n/a | -12.0% | -3.2% |
| Century Communities CCS | United States | $1.56B | 0% | -7% | 2% | 29.2× | n/a | n/a |
| Tokyu Construction 1720.T | Japan | $774M | -21% | +11% | 5% | 9.3× | -13.6% | +8.1% |
| Chongqing Construction Engineering 600939.SS | China | $773M | -11% | -28% | -4% | n/a | -7.9% | -16.8% |
| Takamatsu Construction 1762.T | Japan | $769M | +16% | +6% | 6% | 9.5× | n/a | n/a |
| Katitas 8919.T | Japan | $1.69B | +11% | +20% | 12% | 18.6× | n/a | n/a |
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 6.8× | -20.7% | +11.7% |
| Legacy Housing LEGH | United States | $694M | +25% | -3% | 33% | 14.1× | 3.5% | -1.4% |
| GS Engineering & Construction 006360.KS | South Korea | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% | +4.2% |