Reach

RCH.L

Publishing · Communication Services

Price

43.00 GBp

+0.00 (+0.00%)

Market Cap

£135.7M

Exchange

London Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Good

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Share count falling — buybacks

−1.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 319.3M (2021) → 315.8M (2025)

Winston Score History

The full picture

Reach plc is a British media company that publishes newspapers and news websites. It owns well-known titles like the Daily Mirror, Daily Express, Daily Star, and the Manchester Evening News, along with dozens of regional papers across the UK. It is one of the largest newspaper publishers in the United Kingdom by total readership.

Reach makes money by selling print newspapers, charging for digital advertising on its news websites, and earning revenue from print advertising. The company operates almost entirely in the UK and Ireland. Its large portfolio of trusted local and national brands gives it a broad audience, but print circulation has been declining for years across the industry. The key challenge Reach faces is growing its digital advertising revenue fast enough to replace the money it loses as fewer people buy physical newspapers each year.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-9.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-224.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

£0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

14.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

£29M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Reach's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.4%

Healthy — 41.4% gross margin

Profit after running costs

Operating Margin

6.1%

Modest — 6.1% operating margin

Return on the money invested

ROCE

-28.3%

Weak — -28.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-6.5%

Shrinking sales (-6.5% YoY)

Profit growth

EPS YoY

-455.7%

Earnings shrinking (-455.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

3.3%

Thin free cash flow (3.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.14

Conservative — low debt load (0.14)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

10.25%

Healthy income — 10.25% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+0.3%

Dividend flat

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