THG Management
Management criteria checks 3/4
THG's CEO is Matt Moulding, appointed in Jan 2019, has a tenure of 7.42 years. total yearly compensation is £34.00K, comprised of 70.6% salary and 29.4% bonuses, including company stock and options. directly owns 27.69% of the company’s shares, worth £143.55M. The average tenure of the management team and the board of directors is 5.4 years and 3.8 years respectively.
Key information
Matt Moulding
Chief executive officer
UK£34.0k
Total compensation
| CEO salary percentage | 70.59% |
| CEO tenure | 7.4yrs |
| CEO ownership | 27.7% |
| Management average tenure | 5.4yrs |
| Board average tenure | 3.8yrs |
Recent management updates
Recent updates
Narrative Update • May 31
THG: Execution Risk Around 2026 Guidance Will Restrain Future Returns
Analysts have trimmed their price target on THG by £0.07, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E, while reassessing the risk and reward profile of the shares. Analyst Commentary Recent Street research on THG has included at least one explicit price target cut of 7 GBp from JPMorgan, which aligns with a more cautious tone around the stock.Narrative Update • May 07
THG: Higher Discount Rate And Execution Risks Will Restrain Future Returns
THG's latest narrative update reflects a revised analyst price target of £0.26, with analysts pointing to a slightly higher discount rate and modest adjustments to revenue growth, profit margin and future P/E assumptions as the key drivers behind the change. Analyst Commentary The most recent piece of Street research linked directly to THG is a price target cut to £0.26 at JPMorgan, which aligns with the latest narrative update highlighting a higher discount rate and more conservative assumptions on revenue growth, profit margins and future P/E multiples.Narrative Update • Apr 22
THG: Future Returns Will Depend On Media Expansion Outweighing Execution Risk
Analysts have trimmed their price targets for THG, citing a revised discount rate, modest adjustments to revenue growth and profit margin assumptions, and a higher future P/E of 4.37x, which together support a lower fair value closer to £0.26 per share. Analyst Commentary Recent Street research on insurers with similar business profiles highlights a cautious tone that is useful context for THG holders.
Narrative Update • Apr 07
THG: Retail Media Data Partnerships Will Support Higher Future Earnings Multiple
Analysts have adjusted their price target on THG to £0.55 per share, reflecting updated assumptions around revenue growth, profit margins, and a higher future P/E multiple. Analyst Commentary Recent Street research on insurers and financials highlights how different analysts weigh valuation, growth expectations, and execution risk when setting price targets.Narrative Update • Mar 23
THG: Future Returns Will Depend On Balancing Media Expansion With Margin Discipline
Analysts have adjusted their view on THG with the price target moving modestly higher, reflecting updated assumptions around discount rate, revenue growth, profit margins and future P/E multiples, while still anchoring valuation at a fair value of £0.26 per share. Analyst Commentary Recent commentary around THG reflects a mixed backdrop for the shares, with some market participants reassessing valuation frameworks, execution risks and the balance between growth ambitions and profitability.Narrative Update • Mar 08
THG: Retail Media Data Partnerships Will Support Future Margin Upside
Analysts have inched their price target on THG higher by £1 to £208, reflecting updated assumptions around discount rates, profit margins and future P/E multiples. Analyst Commentary Recent research updates on THG point to a modest uplift in valuation assumptions, with the price target moving to $208 from $207.Narrative Update • Feb 21
THG: Retail Media Partnerships And Mature Turnaround Are Set To Support Upside
Narrative update Analysts have raised their price target on THG to £200, highlighting a more balanced risk and reward profile as the turnaround story matures and earlier gains are reflected in the valuation. Analyst Commentary Recent research on THG points to a more measured stance from the Street, with the focus shifting from early turnaround potential to how much of that story is already reflected in the share price.Narrative Update • Feb 07
THG: Future Returns Will Hinge On Execution As Upside Appears Limited
Analysts have nudged their THG price target slightly higher to about $0.26, citing a more balanced risk and reward profile as the turnaround story matures and valuation becomes more challenging at current levels. Analyst Commentary Bearish analysts acknowledge that THG’s turnaround story is further along, but they also argue that the easier gains may already be priced in.Analysis Article • Jan 30
What THG Plc's (LON:THG) P/S Is Not Telling You
With a median price-to-sales (or "P/S") ratio of close to 0.9x in the Multiline Retail industry in the United Kingdom...Narrative Update • Jan 24
THG: Balanced Risk Profile And Higher Fair Value Will Underpin Bullish Case
Analysts have lifted their fair value estimate for THG from about $0.50 to roughly $0.55 per share, reflecting a view that the stock's risk or reward profile is now more balanced as earlier gains from its turnaround story have largely been realized. Analyst Commentary Bullish Takeaways Bullish analysts see the current fair value move toward about $0.55 per share as consistent with a turnaround story that has largely played out, which can reduce uncertainty around execution.Narrative Update • Jan 09
THG: Updated Fair Value And 2025 Guidance Will Shape Balanced Outlook
Analysts have raised their fair value estimate for THG from £0.44 to £0.50, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E. They state that, at current levels, these revisions leave risk and reward more evenly balanced.Narrative Update • Dec 13
THG: Future Returns Will Depend On Sustained Margin Execution
Analysts have raised their price target on THG from approximately $0.24 to $0.26 per share, citing a lower perceived risk profile and improving top line growth prospects despite slightly softer margin expectations. Analyst Commentary Recent Street research on THG highlights a more balanced, but still cautious, backdrop as the share price recovery narrows the upside from here.Analysis Article • Dec 04
Does THG (LON:THG) Have A Healthy Balance Sheet?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Narrative Update • Nov 29
THG: Continued Turnaround Progress Will Influence Sentiment Amid Balanced Outlook
Analysts have raised their price target for THG to 43 GBp from 24 GBp, citing emerging signs of improved performance. This supports a shift to a more neutral outlook.Narrative Update • Nov 15
THG: Recent Performance Improvements Will Shape Market Sentiment Amid Ongoing Challenges
Analysts have raised their price target for THG Plc to 43 GBp from 24 GBp. They cite indications of improved performance amid recent share price corrections. Analyst Commentary Recent research activity reflects shifting sentiment from analysts regarding THG Plc's valuation and outlook.Narrative Update • Nov 01
THG: Share Correction And Index Addition Will Drive Performance Recovery
Analysts increased their price target for THG Plc from 24 GBp to 43 GBp. They cited signs of improved company performance and recent share correction as key drivers for the upward revision. Analyst Commentary Recent analyst actions signal a notable shift in sentiment regarding THG Plc, with attention on both the company's ongoing efforts and underlying risks affecting its valuation.Analysis Article • Oct 25
Are Investors Undervaluing THG Plc (LON:THG) By 36%?
Key Insights Using the 2 Stage Free Cash Flow to Equity, THG fair value estimate is UK£0.75 THG is estimated to be 36...Narrative Update • Oct 17
FTSE 250 Transfer And Demerger Will Strengthen Business Performance
Analysts have raised their price target for THG. The updated fair value is now £0.44, up from £0.43, citing stronger projected revenue growth and signs of improved operational performance.Narrative Update • Oct 03
FTSE 250 Transfer And Demerger Will Strengthen Business Performance
The analyst price target for THG has been increased to 43 GBp from 24 GBp. This change reflects analysts' recognition of improved performance and a more favorable discounted growth outlook. Analyst Commentary Following the recent upward revision in THG's price target, analysts have provided their perspectives on the company's outlook and share performance.Analysis Article • Sep 28
THG Plc's (LON:THG) 30% Share Price Surge Not Quite Adding Up
THG Plc ( LON:THG ) shares have had a really impressive month, gaining 30% after a shaky period beforehand...Narrative Update • Sep 18
FTSE 250 Transfer And Demerger Will Strengthen Business Performance
Consensus analyst price targets for THG have been revised downward from £0.412 to £0.402, primarily reflecting ongoing operational challenges, weaker margins, execution risks, and softer revenue forecasts. Analyst Commentary Bearish analysts are lowering price targets due to ongoing operational challenges within THG Plc, reflecting continued pressure on its core business performance.
New Narrative • May 04
FTSE 250 Transfer And Demerger Will Strengthen Business Performance
THG's FTSE 250 Index move and demerger are set to boost liquidity and focus, enhancing revenue growth and EBITDA margins.Analysis Article • Dec 17
THG Plc (LON:THG) Stock Rockets 28% As Investors Are Less Pessimistic Than Expected
Those holding THG Plc ( LON:THG ) shares would be relieved that the share price has rebounded 28% in the last thirty...Analysis Article • Oct 14
The Market Doesn't Like What It Sees From THG Plc's (LON:THG) Revenues Yet As Shares Tumble 25%
The THG Plc ( LON:THG ) share price has fared very poorly over the last month, falling by a substantial 25%. Instead of...Analysis Article • Aug 30
Investors Don't See Light At End Of THG Plc's (LON:THG) Tunnel
When you see that almost half of the companies in the Multiline Retail industry in the United Kingdom have...Analysis Article • Jun 02
THG Plc's (LON:THG) Intrinsic Value Is Potentially 46% Above Its Share Price
Key Insights The projected fair value for THG is UK£1.01 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • May 11
THG Plc's (LON:THG) Price Is Right But Growth Is Lacking
When you see that almost half of the companies in the Multiline Retail industry in the United Kingdom have...Analysis Article • Apr 11
Is THG (LON:THG) Using Debt In A Risky Way?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2025 | UK£34k | UK£24k | -UK£64m |
| Sep 30 2025 | n/a | n/a | -UK£124m |
| Jun 30 2025 | n/a | n/a | -UK£184m |
| Mar 31 2025 | n/a | n/a | -UK£182m |
| Dec 31 2024 | UK£33k | UK£23k | -UK£181m |
| Jun 30 2024 | n/a | n/a | -UK£38m |
| Mar 31 2024 | n/a | n/a | -UK£73m |
| Dec 31 2023 | UK£29k | UK£23k | -UK£108m |
| Sep 30 2023 | n/a | n/a | -UK£408m |
| Jun 30 2023 | n/a | n/a | -UK£567m |
| Mar 31 2023 | n/a | n/a | -UK£553m |
| Dec 31 2022 | UK£33k | UK£21k | -UK£540m |
| Sep 30 2022 | n/a | n/a | -UK£351m |
| Jun 30 2022 | n/a | n/a | -UK£162m |
| Mar 31 2022 | n/a | n/a | -UK£150m |
| Dec 31 2021 | UK£453k | UK£20k | -UK£138m |
| Sep 30 2021 | n/a | n/a | -UK£352m |
| Jun 30 2021 | n/a | n/a | -UK£567m |
| Mar 31 2021 | n/a | n/a | -UK£550m |
| Dec 31 2020 | UK£870m | UK£463k | -UK£533m |
| Dec 31 2019 | UK£6m | UK£269k | -UK£44m |
Compensation vs Market: Matt's total compensation ($USD45.49K) is below average for companies of similar size in the UK market ($USD1.61M).
Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.
CEO
Matt Moulding (54 yo)
7.4yrs
Tenure
UK£34,000
Compensation
Mr. Matthew John Moulding, also known as Matt, serves as Chief Executive Officer of THG Plc since 2008 and also serves as its Director since June 24, 2008. He had been Executive Chairman of THG Plc (former...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 7.4yrs | UK£34.00k | 27.69% £ 143.5m | |
| CFO & Director | 3.4yrs | UK£506.00k | 0.022% £ 113.3k | |
| Chief Technology Officer | no data | no data | no data | |
| General Counsel & Company Secretary | 15.4yrs | UK£12.77m | no data | |
| Deputy Group CFO | no data | no data | no data | |
| Group Communications & Portfolio CEO | no data | UK£3.40m | no data | |
| Chief Operating Officer of THG Ingenuity | no data | no data | no data | |
| Managing Director of Studios | no data | no data | no data | |
| Group Director of Sustainability | 1.5yrs | no data | no data | |
| Group Commercial Director | no data | UK£20.13m | no data |
5.4yrs
Average Tenure
47yo
Average Age
Experienced Management: THG's management team is seasoned and experienced (5.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 18yrs | UK£34.00k | 27.69% £ 143.5m | |
| CFO & Director | 3.4yrs | UK£506.00k | 0.022% £ 113.3k | |
| Non-Executive Director | 10.1yrs | UK£38.00k | no data | |
| Independent Non-Executive Chair | 4.3yrs | UK£441.00k | 0.16% £ 805.3k | |
| Senior Independent Director | 3.2yrs | UK£138.00k | 0.010% £ 54.3k | |
| Independent Non-Executive Director | 3.8yrs | UK£103.00k | 0.0032% £ 16.8k | |
| Independent Non-Executive Director | 3.8yrs | UK£108.00k | 0.0033% £ 17.0k | |
| Non-Executive Director | 3yrs | UK£103.00k | 0.0082% £ 42.4k | |
| Independent Non-Executive Director | 1.4yrs | UK£78.00k | no data |
3.8yrs
Average Tenure
64yo
Average Age
Experienced Board: THG's board of directors are considered experienced (3.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 07:14 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
THG Plc is covered by 12 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Aneesha Sherman | Bernstein |
| Alexander Richard Okines | BNP Paribas |
| Adam Gildea | BofA Global Research |