| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | £3.25B | +6.0% |
| Gross Profit | £2.50B | +5.7% |
| EBITDA | — | — |
| Net Income | £539.8M | +29.4% |
| Diluted EPS | £0.34 | +29.2% |
| Free Cash Flow | £895.3M | −8.4% |
| DPS (FY2025) | £0.21 |
| Trailing yield | — |
| Payout ratio | 62.5% |
| Growth streak | 0 yrs |
| 5y DPS growth | — |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | £0.21 | +0.0% | reported |
| FY20242024-12-31 | £0.21 | +0.0% | reported |
| FY20232023-12-31 | £0.21 | +0.5% | reported |
| FY20222022-12-31 | £0.21 | — | reported |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own |
|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||
| Gross Margin | 81.97% | 81.20% | 81.66% | 79.49% | 77.27% | 77.04% | 8% | |
| Operating Margin | — | 28.42% | 25.00% | 22.51% | 17.24% | 20.73% | 30% | |
| NOPAT Margin | — | 23.20% | 20.71% | 18.58% | 13.38% | 16.93% | 30% | |
| Net Margin | 19.34% | 21.08% | 16.81% | 13.22% | 13.60% | 16.61% | 42% | |
| FCF Margin | 29.44% | 38.68% | 30.03% | −10.83% | 31.88% | 27.54% | 25% | |
| FCFF Margin | — | — | — | — | 32.33% | 28.13% | 25% | |
| OCF Margin | 33.13% | 41.70% | 33.64% | −8.11% | 34.18% | 28.13% | 25% | |
| Gross Profitability | 9.50% | 9.87% | 11.07% | 11.32% | 11.31% | 10.17% | 42% | |
| Capex Intensity | 3.69% | 3.02% | 3.61% | 2.72% | 2.30% | 0.59% | 8% | |
| ▸Returns on Capital · 2 ratios | ||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||
| ▸Earnings quality · 4 ratios | ||||||||
| ▸Liquidity & coverage · 1 ratios | ||||||||
| ▸Leverage · 2 ratios | ||||||||
| ▸Capital allocation · 5 ratios | ||||||||
The five drivers multiply to 13.1% vs reported ROE 12.2%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | £2.51B | £2.96B | £2.89B | £2.94B | £3.07B | £3.25B |
| YoY % | +17.8% | -2.3% | +1.6% | +4.4% | +6.0% | |
| Cost of Revenue | £453.1M | £556.4M | £530.3M | £602.3M | £697.0M | £746.4M |
| YoY % | +22.8% | -4.7% | +13.6% | +15.7% | +7.1% | |
| Gross Profit | £2.06B | £2.40B | £2.36B | £2.33B | £2.37B | £2.50B |
| YoY % | +16.7% | -1.7% | -1.1% | +1.5% | +5.7% | |
| Total Operating Expenses | £1.55B | £1.68B | £1.75B | £1.76B | £1.90B | £2.03B |
| YoY % | +8.5% | +4.4% | +0.3% | +8.2% | +6.6% | |
| Operating Income | — | £841.0M | £723.0M | £661.0M | £528.8M | £673.9M |
| YoY % | -14.0% | -8.6% | -20.0% | +27.4% | ||
| Interest Expense | — | — | — | — | £17.7M | £23.4M |
| YoY % | +32.2% | |||||
| Equity Method Income | £43.1M | £88.2M | £77.6M | £51.1M | £42.1M | £51.2M |
| YoY % | +104.6% | -12.0% | -34.1% | -17.6% | +21.6% | |
| Pretax Income | £610.5M | £764.1M | £586.9M | £487.6M | £558.1M | £673.8M |
| YoY % | +25.2% | -23.2% | -16.9% | +14.5% | +20.7% | |
| Income Tax | £124.5M | £140.3M | £100.7M | £85.0M | £125.1M | £123.4M |
| YoY % | +12.7% | -28.2% | -15.6% | +47.2% | -1.4% | |
| Net Income (incl. NCI) | £486.0M | £623.8M | £486.2M | £402.6M | £433.0M | £550.4M |
| YoY % | +28.4% | -22.1% | -17.2% | +7.6% | +27.1% | |
| Minority Interest (P&L) | — | — | — | £14.4M | £16.0M | £10.6M |
| YoY % | +11.1% | -33.8% | ||||
| Net Income | — | — | — | £388.2M | £417.0M | £539.8M |
| YoY % | +7.4% | +29.4% | ||||
| EPS (Basic) | £1.72 | £0.39 | £0.30 | £0.25 | £0.26 | £0.34 |
| YoY % | -77.6% | -21.4% | -19.1% | +7.3% | +29.2% | |
| EPS (Diluted) | £1.69 | £0.38 | £0.30 | £0.24 | £0.26 | £0.34 |
| YoY % | -77.5% | -21.5% | -19.1% | +7.4% | +29.2% | |
| Dividends Declared per Share | — | — | £0 | £0 | £0 | £0 |
| YoY % | +0.5% | 0.0% | 0.0% |
Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
| FY20212021-12-31 | — | — | reported |
| FY20202020-12-31 | — | — | reported |
