Raspberry Pi Holdings Past Earnings Performance
Past criteria checks 4/6
Raspberry Pi Holdings's earnings have been declining at an average annual rate of -1.5%, while the Tech industry saw earnings growing at 15.4% annually. Revenues have been growing at an average rate of 16.2% per year. Raspberry Pi Holdings's return on equity is 9%, and it has net margins of 6.7%.
Key information
-1.52%
Earnings growth rate
-92.13%
EPS growth rate
| Tech Industry Growth | 11.81% |
| Revenue growth rate | 16.19% |
| Return on equity | 9.01% |
| Net Margin | 6.71% |
| Next Earnings Update | 24 Sep 2026 |
Recent past performance updates
Recent updates
Narrative Update • Sep 03
RPI: Hold Ratings And New CFO Appointment Will Support Future Upside
Analysts have trimmed their fair value estimate for Raspberry Pi Holdings in line with a slightly lower revenue growth outlook and a marginally higher discount rate, which has led to a more cautious stance that aligns with recent Hold ratings and price targets near £6.50 to £6.70. Analyst Commentary Recent Street research on Raspberry Pi Holdings highlights a mix of cautious and constructive views that centre on execution risks, capital intensity and how these factors feed into valuation around the current £6.50 to £6.70 range.
Narrative Update • Aug 13
RPI: Higher Revenue Assumptions Will Support Future Semiconductor Investment Execution
Raspberry Pi Holdings' analyst price targets have moved from £5.50 to a range centered around £6.50 to £6.70, with analysts pointing to expectations for stronger revenue growth, while also expressing caution over fragmented customers, high memory costs and planned semiconductor-related capital expenditure. Analyst Commentary Recent research on Raspberry Pi Holdings reflects a mix of optimism and caution, with price targets clustered around £6.50 to £6.70 and ratings set at Hold.Narrative Update • Jul 30
RPI: New CFO Appointment And Higher P/E Expectations Will Support Upside
Raspberry Pi Holdings' narrative update reflects analysts lifting their price target from £5.50 to £6.50 per share, citing revised fair value assumptions and updated P/E expectations as key drivers of the change. What's in the News for Raspberry Pi Holdings Raspberry Pi Holdings plc announced the appointment of Tim Powell as Chief Financial Officer of the Board, effective 16 October 2026.
Narrative Update • Jul 16
RPI: Higher Multiple Expectations Will Likely Pressure Future Share Returns
In this Narrative Update on Raspberry Pi Holdings, the analyst price target is described as moving from £5.50 to £6.50 per share, with analysts pointing to refreshed assumptions around fair value and future P/E as key reasons for the change. What's in the News Raspberry Pi Holdings completed a follow on equity offering of 10,909,090 ordinary shares at £5.50 per share, raising about £60.0m under Regulation S and Rule 144A.Narrative Update • Jul 02
RPI: Elevated Multiple And Lower Margins Will Pressure Future Returns
Analysts have raised their fair value estimate for Raspberry Pi Holdings, resulting in a higher implied price target that now matches the recent increase in the Street target to £6.50 from £5.50. They cite updated assumptions on revenue growth, profit margins, the discount rate and future P/E multiples.Narrative Update • Jun 18
RPI: Raised Price View And Equity Issuance Will Pressure Future Returns
The updated analyst price target on Raspberry Pi Holdings has been raised to £6.50 from £5.50. Analysts cite revised assumptions around fair value, discount rate, revenue growth, profit margin and future P/E to support the change.Narrative Update • Jun 02
RPI: Rich P/E And Equity Raise Will Constrain Future Returns
Analysts have adjusted their price target on Raspberry Pi Holdings to £4.08. They link this change to updated assumptions for the discount rate, revenue growth, profit margins and future P/E, even though the fair value estimate remains at £4.08.Narrative Update • May 11
RPI: Rich P/E And Weaker Margins Will Pressure Future Returns
Analysts have raised their fair value estimate for Raspberry Pi Holdings from £3.03 to £4.08, reflecting updated assumptions on revenue growth, profit margins, the discount rate and future P/E multiples. What's in the News Raspberry Pi Holdings completed a follow on equity offering of £59,999,995, issuing 10,909,090 ordinary shares at £5.50 per share under Regulation S and Rule 144A (company filing).Narrative Update • Apr 23
RPI: Equity Offering And Margin Pressure Will Limit Future Share Upside
Analysts have trimmed their fair value estimate for Raspberry Pi Holdings slightly to £4.59 from £4.60, reflecting updated assumptions around revenue growth, profit margins, the discount rate, and future P/E expectations. What's in the News Raspberry Pi Holdings completed a follow on equity offering of £60.0 million, issuing 10,909,090 ordinary shares at £5.50 under Regulation S and Rule 144A (Key Developments).Narrative Update • Apr 09
RPI: On-Device AI Push Will Face Lower Margins And Rich Earnings Multiple
Analysts have lifted their price target for Raspberry Pi Holdings by roughly £0.10 per share, reflecting updated assumptions for fair value, discount rate, revenue, profit margin and future P/E. What's in the News Issued earnings guidance for Fiscal Year 2026, indicating full-year profitability is anticipated to be in line with market estimates, while revenue is expected to be materially higher than those estimates (corporate guidance).Narrative Update • Mar 26
RPI: On Device AI Edge Expansion Will Drive Future Upside
Analysts have modestly adjusted their price outlook on Raspberry Pi Holdings, reflecting updated assumptions around discount rates, revenue growth, profit margins, and a slightly lower future P/E multiple. These changes together reshape how they value the company in £ terms.Narrative Update • Mar 10
RPI: On-Device AI Expansion Will Meet Stable Margins And Muted Repricing
Analysts have slightly revised their fair value assumptions for Raspberry Pi Holdings, with the latest work on discount rates, revenue growth, profit margins and future P/E multiples feeding through to a modest change in the implied long term price target for the shares, expressed in £ terms. What's in the News Raspberry Pi Holdings launched the Raspberry Pi AI HAT+ 2, an add on board for Raspberry Pi 5 that expands the company's on device AI capabilities, following the earlier Pi AI HAT+ introduced in October 2024 (Key Developments).Narrative Update • Feb 24
RPI: AI Edge Ambitions Will Face Margin And Valuation Headwinds
Analysts have trimmed their price target on Raspberry Pi Holdings to £2.94 from £3.86, reflecting updated assumptions for slightly higher discount rates, stronger projected revenue, a lower profit margin and a more moderate future P/E of 34.55x. What's in the News Raspberry Pi Holdings announced the Raspberry Pi AI HAT+ 2 for Raspberry Pi 5, an add-on board aimed at expanding on-device AI capabilities, including support for generative AI workloads (Key Developments).Narrative Update • Feb 10
RPI: On Device AI Expansion Will Support Future Upside
Analysts have trimmed their implied fair value estimate for Raspberry Pi Holdings slightly. The updated price target now reflects modestly higher discount rate assumptions and only small tweaks to revenue growth, profit margin and future P/E expectations.Narrative Update • Jan 27
RPI: AI Expansion And CFO Transition Will Support Future Upside
Narrative Update on Raspberry Pi Holdings The analyst price target for Raspberry Pi Holdings has been revised lower to reflect updated views on fair value, a higher assumed future P/E multiple, and changes to expected revenue growth and profit margins, with analysts highlighting a rebalanced mix of growth and profitability assumptions behind the move. What's in the News Raspberry Pi Holdings launched the Raspberry Pi AI HAT+ 2, an add on board for Raspberry Pi 5 that expands the company's on device AI capabilities into generative AI workloads, using the Hailo 10H neural network accelerator with 8GB of dedicated DRAM and support for large language and vision language models (Key Developments).Narrative Update • Jan 12
RPI: CFO Succession And Refined Assumptions Will Support Future Upside
Narrative Update on Raspberry Pi Holdings Analysts have trimmed their implied price target for Raspberry Pi Holdings by aligning fair value slightly lower at £6.14. This reflects updated assumptions that incorporate modest adjustments to the discount rate, revenue growth, profit margin and future P/E expectations.Analysis Article • Jan 06
Estimating The Fair Value Of Raspberry Pi Holdings plc (LON:RPI)
Key Insights Raspberry Pi Holdings' estimated fair value is UK£3.24 based on 2 Stage Free Cash Flow to Equity With...Narrative Update • Dec 27
RPI: Revenue Outlook Will Support Confidence Despite Upcoming Finance Leadership Transition
Narrative Update on Raspberry Pi Holdings Analysts have trimmed their price target on Raspberry Pi Holdings from £6.54 to £6.27. This reflects the impact of a slightly higher discount rate and modestly lower margin expectations, partly offset by stronger projected revenue growth.Narrative Update • Dec 13
RPI: Cloud Endpoint Shift Will Drive Stronger Outlook Despite Margin Pressure
Narrative Update on Raspberry Pi Holdings Analysts have modestly reduced their price target on Raspberry Pi Holdings from approximately £4.41 to £3.86, citing slightly lower expected profit margins and valuation multiples that more than offset a small uplift in forecast revenue growth. What's in the News Chief Financial Officer Richard Boult plans to step down in the second half of 2026 after seven years with Raspberry Pi Holdings, with a formal search underway to manage an orderly succession and support the next phase of growth (company announcement).Analysis Article • Oct 06
Raspberry Pi Holdings (LON:RPI) Might Be Having Difficulty Using Its Capital Effectively
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two...Narrative Update • Sep 24
Edge Computing And Digital Transformation Will Unlock New Opportunities
Despite improved revenue growth forecasts, a sharply lower valuation multiple (Future P/E) has led to a notable reduction in Raspberry Pi Holdings’ consensus analyst price target from £5.64 to £4.96. Valuation Changes Summary of Valuation Changes for Raspberry Pi Holdings The Consensus Analyst Price Target has significantly fallen from £5.64 to £4.96.Analysis Article • Sep 04
Raspberry Pi Holdings plc (LON:RPI) Not Lagging Industry On Growth Or Pricing
Raspberry Pi Holdings plc's ( LON:RPI ) price-to-sales (or "P/S") ratio of 4.1x may look like a poor investment...New Narrative • Jun 15
Edge Computing And Digital Transformation Will Unlock New Opportunities
Expansion into industrial OEMs, new product launches, and global partnerships positions Raspberry Pi for sustained growth and stronger market presence.Analysis Article • May 28
Investors Appear Satisfied With Raspberry Pi Holdings plc's (LON:RPI) Prospects As Shares Rocket 28%
Raspberry Pi Holdings plc ( LON:RPI ) shareholders are no doubt pleased to see that the share price has bounced 28% in...Analysis Article • Apr 08
Raspberry Pi Holdings plc's (LON:RPI) 30% Share Price Plunge Could Signal Some Risk
Raspberry Pi Holdings plc ( LON:RPI ) shareholders that were waiting for something to happen have been dealt a blow...Analysis Article • Apr 01
Is Raspberry Pi Holdings plc (LON:RPI) Worth UK£4.7 Based On Its Intrinsic Value?
Key Insights Raspberry Pi Holdings' estimated fair value is UK£3.69 based on 2 Stage Free Cash Flow to Equity Current...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Raspberry Pi Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 323 | 22 | 28 | 23 |
| 30 Sep 25 | 287 | 16 | 27 | 22 |
| 30 Jun 25 | 251 | 10 | 26 | 21 |
| 31 Mar 25 | 255 | 11 | 25 | 20 |
| 31 Dec 24 | 260 | 12 | 25 | 18 |
| 30 Sep 24 | 290 | 21 | 23 | 16 |
| 30 Jun 24 | 321 | 31 | 22 | 15 |
| 31 Mar 24 | 293 | 31 | 20 | 13 |
| 31 Dec 23 | 266 | 32 | 18 | 11 |
| 31 Dec 22 | 188 | 17 | 12 | 9 |
| 31 Dec 21 | 141 | 15 | 10 | 11 |
| 31 Dec 20 | 100 | 17 | 6 | 4 |
| 31 Dec 19 | 52 | 7 | 15 | 0 |
| 31 Dec 18 | 36 | 9 | 11 | 0 |
| 31 Dec 17 | 34 | 13 | 10 | 0 |
| 31 Dec 16 | 20 | 11 | 5 | 0 |
| 31 Dec 15 | 12 | 5 | 4 | 0 |
Quality Earnings: RPI has high quality earnings.
Growing Profit Margin: RPI's current net profit margins (6.7%) are higher than last year (4.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: RPI's earnings have declined by 1.5% per year over the past 5 years.
Accelerating Growth: RPI's earnings growth over the past year (85.5%) exceeds its 5-year average (-1.5% per year).
Earnings vs Industry: RPI earnings growth over the past year (85.5%) exceeded the Tech industry 22.3%.
Return on Equity
High ROE: RPI's Return on Equity (9%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/14 17:46 |
| End of Day Share Price | 2026/09/14 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 |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| 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
Raspberry Pi Holdings plc is covered by 5 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 |
|---|---|
| Jonathan Byrne | Berenberg |
| Robert Sanders | Deutsche Bank |
| Janardan Menon | Jefferies LLC |