Added to YB: 2026-09-30
Pitch date: 2026-09-25
WINE.L [bullish]
Naked Wines plc
-4.67%
current return
Author Info
Dismissed & Asset Backed has their heads stuck in 10Ks and 10Qs of 'old world' businesses trading below tangible book value. Sign up for the newsletter.
Company Info
Naked Wines plc, together with its subsidiaries, engages in the direct-to-consumer online retailing of wines in Australia, the United Kingdom, and the United States.
Market Cap
GBP 41.7M
Pitch Price
GBP 0.64
Price Target
0.84 (+37%)
Dividend
N/A
EV/EBITDA
4.44
P/E
-6.85
EV/Sales
0.06
Sector
Consumer Staples Distribution and Retail
Category
turnaround
Naked Wines (WINE.L) - The Hangover After the Boom
WINE.L (monitor): Naked Wines trades at 0.84x tangible book after a 93% decline from its 2021 peak. FY26 adjusted EBITDA excluding inventory liquidation and associated costs rose to £7.6m, but sales fell 20% and FY27 guidance calls for another 12-21% decline. The FY29 tangible-book scenario implies £0.84 per share, or 26% upside; membership and sales have yet to stabilize, while refundable customer balances and less-liquid inventory remain a downside liquidity risk.
Read full article (9 min)