One-glance verdict
Overvalued
$8.00 our estimate vs market $501.40
Wall Street consensus: $536.75 (6,612.3% higher than our fair-value estimate)
6170% above our estimate, beyond the bull case
Fundamentals snapshot
Rightmove plc
RMV.L · LSE · Communication Services · Internet Content & Information
Current price
$501.40
52-week range
$0.00 - $731.80
Market cap
$3.66B
Balance sheet
Healthy
2,822.29x Strong cushion
Net cash $28.98M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 9.0% last year.
- Reward Returns 282.4% on equity, ahead of 75% of its peers.
- Risk Operating margin compressed from 72.6% to 66.6% over 3 years.
- Risk Insider ownership is only 0.5% (peer median: 4.9%).
What this company does
Rightmove plc
Rightmove runs the UK's largest online property website, which is the main place people go to find homes for sale or rent. The company makes its money by charging a subscription fee to the estate agents who list their properties on the site. Because nearly every home-buyer uses their platform, Rightmove has a very strong market position that allows it to generate high profit margins (the percentage of sales that turns into pure profit after all costs are paid).
How the company got here
Rightmove was started in 2000 by four of the UK's largest estate agencies who saw that property advertising was moving from newspapers to the internet. They created a single online portal for properties across the country, which was initially free for agents to use. The company began charging for listings in 2002 and became a publicly traded company on the London Stock Exchange in 2006. Over the years, it has grown to become the UK's largest online property website by bringing together a huge audience of home movers with the largest selection of properties from agents.
What it actually does
Rightmove operates the UK's largest property website and app, which you might have used to look for a house or apartment to buy or rent. It's like a giant online marketplace that connects people looking for a new home with estate agents, landlords, and new home builders. The company doesn't sell properties itself; instead, it charges property professionals a fee to list their properties and advertise their services on its platform. For home searchers, the service is completely free to use.
Agency
This is Rightmove's largest business area, making up the majority of its income. It serves estate and lettings agents who pay monthly subscription fees to advertise properties for sale and for rent on the Rightmove website. In addition to the basic listing fee, agents can pay for extra products to make their listings or their company brand stand out more to potential customers. This segment also offers services to landlords and agents like checking potential tenants' references and offering insurance to cover unpaid rent.
New Homes
This part of the business focuses specifically on newly built properties and is the second-largest source of revenue. Rightmove charges new home developers and housing associations to advertise their new houses and apartments on the platform. This allows builders to reach the large audience of potential buyers who are browsing the site. Just like with the Agency segment, developers can purchase enhanced advertising to get more visibility for their properties.
Other
This is a smaller but growing part of the company that bundles together several other services. It includes advertising for commercial properties (like offices and shops) and properties located overseas. This segment also earns money from selling detailed property market data to various professionals and from non-property advertising. Additionally, it covers services related to mortgages, connecting the home searcher with mortgage lenders and brokers.
What management is betting on now
The company is heavily focused on using technology, especially artificial intelligence (AI), to improve the experience for both home searchers and property professionals. They are investing in making the home-moving process simpler and more efficient by developing new tools and features on their platform. Management is also focused on growing its newer business areas, such as commercial property, mortgages, and rental services, to create more sources of income. The overall goal is to use their strong brand and large audience to become even more central to every stage of the property journey.
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $8.00 vs current price $501.40
Wall Street consensus is the average analyst price target: $536.75 (6,612.3% higher than our fair-value estimate).
Our most-likely fair value is $8.00 a share — about 98.4% below today's price of $501.40, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $29.0M - more cash than debt. Interest coverage 2822.3x.
Net debt
$-28.98M
Interest coverage
2,822.29x
Rightmove plc's profit covers its interest bill about 2822.3 times over. which is stronger than every peer shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
RMV.L
BASELINE
Rightmove plc
Total debt $5.36M Interest coverage 2,822.29x This is the baseline the peer rows are being compared against.
Total debt $558.00M Interest coverage -1.78x -100% vs RMV.L This peer has almost no interest-payment cushion compared with RMV.L.
Total debt $1.16B Interest coverage -0.65x -100% vs RMV.L This peer has almost no interest-payment cushion compared with RMV.L.
Total debt $1.96B Interest coverage -2.11x -100% vs RMV.L This peer has almost no interest-payment cushion compared with RMV.L.
What you should know
The case for and against RMV.L
3 Rewards
2 Risks
Rewards
-
Revenue grew 9.0% last year.
-
Returns 282.4% on equity, ahead of 75% of its peers.
-
Free cash flow was positive in 4/10 years.
Risks
-
Operating margin compressed from 72.6% to 66.6% over 3 years.
-
Insider ownership is only 0.5% (peer median: 4.9%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
17.29x
Forward P/E
14.63x
P/B
51.69x
P/S
8.34x
EV/EBITDA
12.75x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
100.0%
Operating margin
66.6%
Net margin
49.7%
ROE
282.4%
ROA
147.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.07x
Current ratio
1.53x
Quick ratio
1.38x
Total debt
$5.36M
Total cash
$34.34M
Growth
How the business has been compounding
Revenue TTM
$439.25M
Revenue 5Y CAGR
8.5%
EPS TTM
0.29
EPS 5Y CAGR
6.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$236.30M
Free CF TTM
$226.12M
FCF margin
51.5%
Dividend
Shareholder payout
Yield
2.2%
Payout ratio
37.2%
Last ex-div date
2026-09-24