A 
229.20p
+2.41%
Close of 9 Nov 2026, in pence
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in GBP, from our data supplier.
Net income
£388.0m
FY2016FY2025
Total assets
£10.72bn
FY2016FY2025
Shareholders' equity
£4.93bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | £10.0m | £3.0m | £4.0m | £3.0m | £15.0m | £43.0m | £35.0m | £29.0m | £74.0m | £41.0m |
| Operating income | £255.0m | £218.0m | £272.0m | £242.0m | £331.0m | £75.0m | £1.80bn | £332.0m | £591.0m | £1.16bn |
| Net income | £388.0m | £237.0m | £1.0m | −£558.0m | £994.0m | £833.0m | £266.0m | £830.0m | £699.0m | £368.0m |
| Diluted earnings per share | 0.21 | 0.13 | 0.00 | -0.29 | 0.53 | 0.43 | 0.13 | 0.44 | 0.38 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £10.72bn | £7.72bn | £8.03bn | £9.25bn | £11.42bn | £10.48bn | £11.42bn | £12.52bn | £198.11bn | £190.50bn |
| Cash and short-term investments | £1.79bn | £1.33bn | £1.20bn | £1.16bn | £1.94bn | £1.52bn | £1.61bn | £1.14bn | £10.23bn | £7.94bn |
| Total liabilities | £5.58bn | £2.68bn | £2.94bn | £3.37bn | £706.0m | £3.67bn | £4.76bn | £4.98bn | £189.12bn | £185.85bn |
| Debt | £557.0m | £597.0m | £1.03bn | £624.0m | £706.0m | £840.0m | £993.0m | £1.30bn | £2.79bn | £1.36bn |
| Shareholders' equity | £4.93bn | £5.03bn | £5.08bn | £5.87bn | £7.85bn | £6.81bn | £6.56bn | £7.44bn | £8.60bn | £4.35bn |
| Shares outstanding | 1,823m | 1,823m | 1,841m | 1,941m | 1,889m | 1,920m | 2,046m | 1,881m | 1,839m | 1,775m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | £151.0m | £125.0m | £130.0m | £109.0m | £109.0m | £100.0m | £172.0m | £112.0m |
| Net income | £241.0m | £141.0m | £247.0m | £72.0m | £165.0m | £152.0m | −£151.0m | −£256.0m |
| Diluted earnings per share | 0.13 | 0.08 | 0.14 | 0.04 | 0.09 | 0.08 | -0.08 | -0.13 |
| Total assets | £10.83bn | £10.72bn | £11.57bn | £7.72bn | £8.23bn | £8.03bn | £8.76bn | £9.25bn |
| Cash and short-term investments | £1.62bn | £1.79bn | £1.83bn | £1.33bn | £1.41bn | £1.20bn | £1.42bn | £1.16bn |
| Debt | — | — | — | £27.0m | — | £26.0m | — | £32.0m |
| Shareholders' equity | £5.24bn | £5.13bn | £4.89bn | £5.03bn | £5.14bn | £5.08bn | £5.36bn | £5.87bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 12.2% | 7.4% | 10.2% | 7.8% | 14.7% | 4.9% | — |
| Net margin | 28.9% | 17.3% | 0.1% | -36.3% | 59.0% | 54.6% | — |
| Return on equity | 7.9% | 4.7% | 0.0% | -9.5% | 12.7% | 12.2% | — |
| Return on assets | 3.6% | 3.1% | 0.0% | -6.0% | 8.7% | 7.9% | — |
| Revenue growth | -2.1% | -7.1% | -4.2% | -8.7% | 10.3% | -60.4% | — |
| Earnings growth | 63.7% | 23600.0% | -100.2% | -156.1% | 19.3% | 213.2% | — |
| Current ratio | 452.75x | 3.39x | 2.61x | 2.62x | 2.98x | 10.63x | — |
| Debt to equity | 0.01x | — | 0.01x | 0.01x | 0.01x | 0.12x | 0.27x |
| Equity ratio | 46.0% | 65.2% | 63.3% | 63.5% | 68.8% | 65.0% | — |
| Interest coverage | 6.79x | 3.61x | 5.17x | 4.14x | 8.23x | 2.50x | — |
| R&D as a share of sales | 0.7% | 0.2% | 0.3% | 0.2% | 0.9% | 2.8% | — |
| Buybacks as a share of market value | -0.0% | 1.0% | 5.2% | -2.7% | 1.6% | 6.2% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.5% | -2.6% | -17.2% |
| Operating income | 1.8% | 27.7% | -14.6% |
| Net income | — | -14.2% | -12.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 17.4% | 17.2% | 15.6% | 14.6% |
| Net margin | 23.1% | 1.2% | 21.2% | 12.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.7 | 10.8 | — | -6.6 | 4.6 | 6.5 | 25.2 | 5.8 | 11.4 | 17.8 |
| Price to sales | 2.8 | 1.9 | 2.2 | 2.4 | 2.7 | 3.5 | 1.7 | 2.3 | 3.7 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 19 years. Last went ex-dividend on 13 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.146 | 0.146 | 0.236 | 0.146 | 0.146 | 0.146 | 0.216 | 0.216 |
- 8-to-7 reverse split · 22 Oct 2018
- 11-to-9 reverse split · 16 Mar 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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