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Close Brothers Group
(OTC:CBG)
Close Brothers Group (CBG) vs. S&P 500 (SPY)
Close Brothers Group Business Overview & Revenue Model
Close Brothers Group Financial Statement Overview
| Breakdown | ||||
| Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | Sep 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 1.02B | 1.33B | 1.14B | 1.16B | 1.09B | Gross Profit |
| 1.02B | 1.33B | 1.14B | 1.16B | 1.09B | EBIT |
| 252.30M | 113.50M | 234.80M | 270.70M | 144.00M | EBITDA |
| 252.30M | 220.20M | 333.10M | -23.30M | 236.70M | Net Income Common Stockholders |
| 100.40M | 81.10M | 165.20M | 202.10M | 109.50M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.58B | 2.21B | 1.38B | 1.44B | 1.46B | Total Assets |
| 14.08B | 13.55B | 12.68B | 12.03B | 11.07B | Total Debt |
| 2.36B | 2.99B | 3.03B | 2.75B | 2.76B | Net Debt |
| -1.58B | 776.80M | 1.65B | 1.31B | 1.30B | Total Liabilities |
| 12.24B | 11.91B | 11.02B | 10.47B | 9.62B | Stockholders Equity |
| 1.84B | 1.64B | 1.66B | 1.57B | 1.45B |
| Cash Flow | Free Cash Flow | |||
| -426.50M | 631.20M | -259.80M | 43.30M | 125.90M | Operating Cash Flow |
| -382.00M | 693.10M | -201.40M | 100.10M | 175.50M | Investing Cash Flow |
| -1.15B | -603.60M | -243.70M | -806.60M | -177.30M | Financing Cash Flow |
| 513.40M | 736.80M | 391.50M | 681.80M | 274.80M |
Close Brothers Group Technical Analysis
Close Brothers Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £141.44B | 8.19 | 13.62% | 6.53% | 3.98% | 5.43% | |
77 Outperform | £42.78B | 11.33 | 9.84% | 4.07% | 31.97% | -21.96% | |
75 Outperform | £39.98B | 7.77 | 9.03% | 3.03% | 5.56% | 31.39% | |
74 Outperform | £37.08B | 8.60 | 13.18% | 4.68% | 15.69% | 11.47% | |
72 Outperform | $24.09B | 9.25 | 8.33% | 2.68% | 7.29% | 25.46% | |
63 Neutral | $12.07B | 9.35 | 8.15% | 79.57% | 12.85% | -5.13% | |
57 Neutral | £436.24M | 4.53 | -6.71% | ― | 3.73% | -172.06% |
Close Brothers Group Corporate Events
Kopernik Global Investors, LLC, based in Tampa, United States, has acquired a significant voting rights position in Close Brothers Group PLC, crossing the 3% threshold as of April 9, 2025. This acquisition indicates a notable interest from an international investor, which could influence the company’s shareholder dynamics and potentially impact its strategic decisions.
Spark’s Take on GB:CBG Stock
According to Spark, TipRanks’ AI Analyst, GB:CBG is a Neutral.
Close Brothers Group’s overall stock score reflects a cautious outlook due to significant revenue and cash flow challenges, as well as negative valuation metrics. However, the stable balance sheet and strategic initiatives, such as executive share purchases and asset sales, provide some positive indications of future potential.
To see Spark’s full report on GB:CBG stock, click here.
Close Brothers Group plc announced that several key managerial figures, including the Group Head of Human Resources, Group Chief Finance Officer, and Group Chief Risk Officer, have acquired shares under the company’s Share Incentive Plan. This move, involving the purchase of ordinary shares at 262p each, reflects a strategic alignment of interests between the company’s management and its shareholders, potentially boosting stakeholder confidence and reinforcing the company’s market position.
Spark’s Take on GB:CBG Stock
According to Spark, TipRanks’ AI Analyst, GB:CBG is a Neutral.
Close Brothers Group faces significant challenges in revenue and cash flow, reflected in a moderate financial performance score. Technical analysis indicates short-term weakness but some long-term support. Valuation scores are low due to negative earnings and lack of dividends. Strategic actions, such as asset sales and executive share purchases, show potential for improvement but are countered by recent losses and provisions. Overall, the stock reflects a cautious outlook amid restructuring efforts.
To see Spark’s full report on GB:CBG stock, click here.
Close Brothers Group plc announced a transaction involving Simon Jacobs, the Group Chief Operating Officer, who exercised options under the 2023 Retention and Recruitment Share Plan, resulting in the acquisition of 13,442 shares. A portion of these shares, 6,341, was sold to cover tax and National Insurance Contributions, while 7,101 shares were retained. The transaction took place on 31 March 2025 at the London Stock Exchange, reflecting the company’s ongoing efforts to align management incentives with shareholder interests.
Close Brothers Group plc, a financial services company, announced that as of March 31, 2025, its total issued listed share capital consisted of 152,060,290 ordinary shares, with 1,572,747 held in Treasury, resulting in 150,487,543 shares with voting rights. This information is crucial for shareholders to determine their major interest in the company, as per the Disclosure Guidance and Transparency Rules.
Close Brothers Group plc has announced a share award under its Omnibus Share Incentive Plan to its executive director, Mike Morgan, who has recently been appointed as Group Chief Executive Officer. The award is part of the Long Term Incentive Plan and is subject to performance measures over a three-year period. Additionally, Mr. Morgan will receive an annual salary of £968,000 and a pension allowance, with his total restricted stock awards for the 2025 financial year valued at £650,000. These remuneration arrangements align with the Directors’ Remuneration Policy approved by shareholders.
Close Brothers Group plc announced that its Chairman, Michael Biggs, has purchased 5,000 ordinary shares of the company at a price of £2.884 per share. This transaction, conducted on the London Stock Exchange, indicates a potential vote of confidence in the company’s financial health and future prospects by a key executive, which could positively influence stakeholder sentiment.
Close Brothers Group reported a statutory operating loss before tax of £103.8 million for the first half of 2025, primarily due to a £165 million provision related to motor finance commissions. Despite this, the company achieved a pro-forma CET1 capital ratio of 13.4% following the sale of Close Brothers Asset Management, which simplified the group and allowed a sharper focus on its lending business. The group continues to implement cost management initiatives, expecting annualized savings of £25 million by the end of the financial year, and maintains a strong balance sheet with a CET1 ratio significantly above the requirement.
Close Brothers Group PLC has announced a change in its major holdings, with FIL Limited increasing its voting rights to 5.115% as of March 13, 2025. This acquisition of voting rights by FIL Limited, a Bermuda-registered entity, could potentially influence the strategic decisions and operations of Close Brothers Group, impacting its market positioning and stakeholder interests.
Close Brothers Group PLC announced that its total issued listed share capital as of February 28, 2025, consists of 152,060,290 ordinary shares, with 1,572,747 held in Treasury. This leaves 150,487,543 shares with voting rights, a figure shareholders can use to determine their major interest in the company under regulatory rules. This announcement provides transparency and helps stakeholders understand their shareholding status, potentially impacting shareholder decisions and market perceptions.
Close Brothers Group has completed the sale of its wealth management division, Close Brothers Asset Management (CBAM), to Oaktree Capital Management. This strategic move is expected to strengthen Close Brothers’ capital base, increasing its common equity tier 1 capital ratio by approximately 120 basis points. The transaction, valued at around £146 million, will allow Close Brothers to focus on its core business operations. Oaktree plans to invest in CBAM’s technology and operations to enhance service quality and drive long-term growth.
Close Brothers Group has successfully completed the sale of its wealth management business, Close Brothers Asset Management (CBAM), to Oaktree Capital Management. This strategic move is part of Close Brothers’ efforts to strengthen its capital base and focus on core business operations, with an expected increase in the common equity tier 1 capital ratio by approximately 120 basis points. The transaction is anticipated to yield a gain of around £59 million, enhancing the company’s financial position and simplifying its operations.
Close Brothers Group has announced a provision of up to £165 million in its financial statements for the first half of 2025 due to recent developments in motor commissions. This provision, which could significantly impact its CET1 capital ratio, is in response to legal and operational costs related to regulatory reviews and potential customer remediation. Despite these challenges, the group has made progress in capital actions, including the anticipated completion of the sale of Close Brothers Asset Management, which is expected to bolster its capital ratio. The company reported a robust financial performance for the period, with a slight decline in its loan book due to selective lending for risk optimization and maintaining strong margins in its banking operations.
Close Brothers Group plc announced that several senior executives, including the Group Head of Human Resources, the Group Chief Finance Officer, the Chief Executive Officer of Close Brothers Asset Management, and the Group Chief Risk Officer, have acquired shares under the company’s Share Incentive Plan. This move, involving transactions conducted at the London Stock Exchange, may indicate a strengthening of management’s commitment to the company, potentially boosting investor confidence and aligning management interests with those of shareholders.
Close Brothers Group PLC has announced its total issued listed share capital as of 31 January 2025, which includes 152,060,290 ordinary shares, with 1,572,747 held in Treasury, resulting in 150,487,543 shares with voting rights. This figure is significant as it aids shareholders in determining their major interest in the company, which is crucial for compliance with the Disclosure Guidance and Transparency Rules.
Close Brothers Group PLC has announced that Tracey Graham, an Independent Non-Executive Director, has taken on additional roles as a Non-Executive Director at Virgin Money UK PLC and Clydesdale Bank PLC. This appointment, effective from 23 January 2025, could enhance the strategic insights and governance capabilities of Close Brothers, potentially strengthening its positioning within the financial sector.