J D WETHERSPOON PLC
Company number 01709784 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Credit Opinion: CONDITIONAL APPROVE
The company is a long-established, publicly listed operator with a substantial equity base (£209m share capital) and no overdue filings, liquidation proceedings, or adverse director conduct records. However, the absence of recent balance sheet, profit & loss, and cash flow data in the provided information precludes a full quantitative assessment. Subject to review of the latest audited accounts to confirm profitability, leverage, and liquidity, the company appears creditworthy.
Financial Strength
- Equity support is high relative to a typical SME; the share capital figure alone suggests significant retained reserves and investor confidence.
- Without total assets, liabilities, or current/quick ratios, solvency and gearing cannot be calculated. As a PLC, the company likely maintains a moderate net debt position, but this must be verified from the latest financial statements.
Cash Flow Assessment
- No direct cash flow data is available. The pub/hospitality sector typically generates strong operational cash flows from high turnover and relatively low fixed costs.
- Working capital needs should be manageable given the cash-based business model; however, any seasonal or COVID‑legacy impacts would need to be assessed via the cash flow statement.
Monitoring Points
- Leverage: Net debt to EBITDA and interest cover ratios from audited accounts.
- Liquidity: Current ratio, quick ratio, and free cash flow to debt service.
- Trading Performance: Like‑for‑like sales, gross margin trends, and any impairment of fixed assets (pub estate valuations).
- Covenant Compliance: Confirm adherence to any existing bank facilities or bond covenants.