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Global Blue Group Holding Ltd (GB)



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Upturn Advisory Summary
08/15/2025: GB (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $5.99
1 Year Target Price $5.99
0 | Strong Buy |
0 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -9.04% | Avg. Invested days 39 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.49B USD | Price to earnings Ratio 18.27 | 1Y Target Price 5.99 |
Price to earnings Ratio 18.27 | 1Y Target Price 5.99 | ||
Volume (30-day avg) 1 | Beta 0.44 | 52 Weeks Range 4.44 - 8.00 | Updated Date 08/29/2025 |
52 Weeks Range 4.44 - 8.00 | Updated Date 08/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.41 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-27 | When After Market | Estimate 0.07 | Actual - |
Profitability
Profit Margin 16.6% | Operating Margin (TTM) 26.82% |
Management Effectiveness
Return on Assets (TTM) 8% | Return on Equity (TTM) 87.24% |
Valuation
Trailing PE 18.27 | Forward PE 21.01 | Enterprise Value 2013813200 | Price to Sales(TTM) 2.94 |
Enterprise Value 2013813200 | Price to Sales(TTM) 2.94 | ||
Enterprise Value to Revenue 3.39 | Enterprise Value to EBITDA 6.98 | Shares Outstanding 199366000 | Shares Floating 192910975 |
Shares Outstanding 199366000 | Shares Floating 192910975 | ||
Percent Insiders 1.43 | Percent Institutions 8.53 |
Upturn AI SWOT
Global Blue Group Holding Ltd

Company Overview
History and Background
Global Blue was founded in 1980. It pioneered the tax-free shopping system and has expanded to offer various payment and retail tech solutions. Key milestones include geographic expansion and diversification of service offerings.
Core Business Areas
- Tax Free Shopping: Provides solutions that enable retailers to offer tax refunds to international shoppers, facilitating spending and travel.
- Payment Solutions: Offers payment processing services, including point-of-sale (POS) and digital payment solutions, primarily to retailers.
- Retail Tech Solutions: Provides technology solutions designed to help retailers improve their operations and customer experience, such as data analytics and marketing tools.
Leadership and Structure
Global Blue has a board of directors and an executive management team. The structure includes departments for technology, finance, operations, and sales, with regional management for different geographic areas.
Top Products and Market Share
Key Offerings
- Payment Solutions: Payment processing services for retailers, aiming for increased efficiency and sales. Competitors include Adyen, Worldpay (FIS), and Stripe.
- Retail Tech Solutions: Includes data analytics and marketing tools to enhance the retail experience. Competitors include Oracle Retail, SAP Retail, and Salesforce Commerce Cloud.
- Tax Free Shopping: Facilitates tax refunds for international shoppers. Global Blue is a market leader but precise market share data fluctuates depending on the region; revenue from this product is significant, forming a core part of Global Blue's income. Competitors include Planet Payment, Premier Tax Free (part of Fintrax), and Innova Taxfree.
Market Dynamics
Industry Overview
The tax-free shopping industry is driven by international tourism and cross-border spending. The payments industry is highly competitive, with a shift towards digital and mobile payments. Retail tech is evolving rapidly with data analytics and personalized marketing.
Positioning
Global Blue is a leading player in tax-free shopping, with a strong brand and established network. It's positioned to leverage its existing relationships with retailers and shoppers to expand its payments and retail tech solutions.
Total Addressable Market (TAM)
The TAM for tax-free shopping is estimated at billions of dollars, influenced by global tourism spend. Payment solutions and retail tech have even larger TAMs, growing with e-commerce and digital transformation. Global Blue is positioned to capture a portion of these large markets through its integrated offerings.
Upturn SWOT Analysis
Strengths
- Established brand in tax-free shopping
- Extensive network of retailers and shoppers
- Diversified product portfolio (tax-free, payments, retail tech)
- Data analytics capabilities
Weaknesses
- Dependence on international travel trends
- Exposure to currency fluctuations
- Competition from larger payment processors
- Regulatory risks in tax-free shopping
Opportunities
- Expansion into new geographic markets
- Growth of e-commerce and digital payments
- Partnerships with travel agencies and airlines
- Development of innovative retail tech solutions
Threats
- Economic downturns affecting tourism and spending
- Increased competition from fintech companies
- Changes in tax regulations or policies
- Security breaches and data privacy concerns
Competitors and Market Share
Key Competitors
- FIS (FIS)
- Global Payments (GPN)
- Adyen (ADYEN.AS)
Competitive Landscape
Global Blue holds an advantage in tax-free shopping due to its established network, but faces fierce competition in the payment processing and retail tech sectors from larger, more diversified companies.
Major Acquisitions
ZigZag Global
- Year: 2021
- Acquisition Price (USD millions): 60
- Strategic Rationale: Expanded Global Blueu2019s service offerings into e-commerce returns and logistics.
Growth Trajectory and Initiatives
Historical Growth: Global Blue's historical growth is tied to the growth of international tourism and retail. Past growth has seen periods of strong growth followed by pandemic-induced downturn.
Future Projections: Analyst estimates for Global Blue's future growth require access to recent financial reports and forecasts from reputable sources.
Recent Initiatives: Recent initiatives may include partnerships with travel companies, expansion into new markets, and investments in technology.
Summary
Global Blue is a leading player in the tax-free shopping space, leveraging its extensive network and brand recognition. While it faces competition in the broader payments and retail tech markets, its strong position in its core business provides a solid foundation for growth. Key challenges include dependence on international tourism and navigating regulatory changes. Expansion into new markets and innovative tech solutions are critical for future success. Growth will depend on post-pandemic tourism growth and effective execution of new strategic initiatives.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Global Blue Investor Relations
- Financial News Providers
- Industry Reports
Disclaimers:
This analysis is based on publicly available information and represents a general overview. It should not be considered financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Global Blue Group Holding Ltd
Exchange NYSE | Headquaters - | ||
IPO Launch date 2020-08-31 | CEO - | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 2160 | Website https://www.globalblue.com |
Full time employees 2160 | Website https://www.globalblue.com |
Global Blue Group Holding AG, together with its subsidiaries, provides technology and payments solutions for merchants, acquirers, customs, authorities, travelers, shoppers, and guests in Europe, the Asia Pacific, and internationally. It operates through three segments: Tax Free Shopping (TFS); Payments; and Post-Purchase Solutions (PPS). The company offers TFS, a value-added tax (VAT) refund service that allows eligible shoppers to reclaim VAT on goods purchased outside of their home country; and intelligence and marketing services. It also provides payment services, which enable customers to pay in their choice of preferred currency, home or destination, and at the point of sale (POS) when shopping outside of their home country. In addition, the company offers currency conversion services for POS, ecommerce return solutions, and dynamic currency conversion services at automated teller machines, as well as multi-currency processing services for online retailers. Further, it provides ZigZag, a technology platform that digitalizes the ecommerce returns experience and enhances the process for retailers and consumer queries; ShipUp, a post-purchase engagement solution for online purchases enabling brands to deliver post-purchase communication; and Yocuda that enables retailers to send digital receipts to their customers. The company was founded in 1980 and is headquartered in Wangen-Brüttisellen, Switzerland. As of July 2, 2025, Global Blue Group Holding AG operates as a subsidiary of Shift4 Payments, Inc.

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