SRP (Serco Group PLC) vs FTSE All Share Index Comparison

SRP

FTSE All Share Index

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SRP

FTSE All Share Index

Difference

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SRP

FTSE All Share Index

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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FTSE All Share Index

SRP

RSG

WCN

VLTO

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1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Serco Group PLC
Glance View

Market Cap

1.7B GBX

Industry

Commercial Services & Supplies

Serco Group PLC, a British multinational outsourcing company, has carved out a niche for itself by intertwining some of the most complex threads of public service delivery into a coherent and efficient tapestry. Founded in 1929 as a division of RCA, Serco has evolved into a leading contractor managing a vast array of services for governments and private entities around the globe. Its presence spans sectors such as defense, transport, health, justice, and immigration. By leveraging its extensive expertise, Serco manages everything from rail systems in the UK to air traffic control in the Middle East, demonstrating an adeptness in navigating regulatory environments and understanding the intricate demands of public services. The financial heartbeat of Serco lies in its business model, focused on long-term contracts that provide stable revenue streams and growth opportunities. These contracts often arise from outsourcing agreements wherein Serco operates services more efficiently than governments or private sectors would do on their own. Serco excels by maintaining robust cost controls, innovative service solutions, and the ability to scale operations effectively. Through a careful balance of winning new contracts and renewing existing ones, Serco ensures a consistent flow of revenue, making it a critical partner in the delivery of essential public services and a significant player in the outsourcing industry.

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SRP Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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CA	Waste Connections Inc TSX:WCN	Add
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SRP

vs

FTSE All Share Index

Stocks Performance
SRP vs FTSE All Share Index

Performance Gap
SRP vs FTSE All Share Index

Performance By Year
SRP vs FTSE All Share Index

Competitors Performance
Serco Group PLC vs Peers

Serco Group PLC
Glance View

Company

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Tools

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SRP vs FTSE All Share Index

Stocks Performance SRP vs FTSE All Share Index

Performance Gap SRP vs FTSE All Share Index

Performance By Year SRP vs FTSE All Share Index

Competitors Performance Serco Group PLC vs Peers

Serco Group PLC Glance View

Company

Help

Tools

Stocks

SRP

vs

FTSE All Share Index

Stocks Performance
SRP vs FTSE All Share Index

Performance Gap
SRP vs FTSE All Share Index

Performance By Year
SRP vs FTSE All Share Index

Competitors Performance
Serco Group PLC vs Peers

Serco Group PLC
Glance View