Growing demand for corporate outsourcing will support longer-term opportunities for Compass Group.
Following a transfer of coverage, we increase our fair value estimate for Compass Group to GBX 1,340 from GBX 1,200. This increase stems from several factors culminating in an improved margin outlook over our explicit forecast period. The current share price implies a forward P/E ratio of 21 times, roughly a 12% premium to the 10-year average historical ratio, and also a premium to the peer group average. Shares are fairly valued at current levels.Compass is the largest of only three global foo...
Compass Group is engaged in providing outsourced food and support services. The five sectors in which Co. operates are: Business & Industry, which provides food for employees during their working day; Healthcare & Seniors, which helps hospitals in the public and private sectors manage and enhance quality of food and support services; Education, which provides dining solutions from kindergarten to college; Sports & Leisure, which provides hospitality and service at sporting and leisure venues, exhibition centers, visitor attractions and events; and Defence, Offshore & Remote, which provides food and support services to companies in the oil and gas and mining and construction industries.
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