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Associated British Foods ABF.L · GBp
Consumer Staples · Food Products · LSE · 🇬🇧 United Kingdom
FTSE 100
2,001.00p
+0.55%
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.
Revenue
£19.46bn
FY2016FY2025
Net income
£1.02bn
FY2016FY2025
Free cash flow
£1.15bn
FY2016FY2025
Shareholders' equity
£11.06bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £19.46bn | £20.07bn | £19.75bn | £17.00bn | £13.88bn | £13.94bn | £15.82bn | £15.57bn | £15.36bn | £13.40bn |
| Research and development | £49.0m | £58.0m | £51.0m | £44.0m | £36.0m | £31.0m | £30.0m | £26.0m | £37.0m | £36.0m |
| Operating income | £1.63bn | £1.93bn | £1.38bn | £1.18bn | £808.0m | £810.0m | £1.28bn | £1.34bn | £1.34bn | £1.10bn |
| Net income | £1.02bn | £1.46bn | £1.04bn | £700.0m | £478.0m | £455.0m | £878.0m | £1.01bn | £1.20bn | £818.0m |
| Diluted earnings per share | 1.43 | 1.95 | 1.36 | 0.89 | 0.61 | 0.58 | 1.11 | 1.27 | 1.52 | 1.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £19.29bn | £19.01bn | £18.84bn | £19.77bn | £16.89bn | £16.67bn | £13.76bn | £13.69bn | — | £11.38bn |
| Cash and short-term investments | £1.06bn | £1.66bn | £1.46bn | £2.13bn | £2.31bn | £2.03bn | £1.52bn | £1.52bn | — | £660.0m |
| Total liabilities | £8.11bn | £7.74bn | £7.65bn | £8.22bn | £6.89bn | £7.23bn | £4.21bn | £4.40bn | — | £4.25bn |
| Debt | £3.69bn | £3.68bn | £3.72bn | £3.89bn | £3.69bn | £4.11bn | £588.0m | £778.0m | — | £885.0m |
| Shareholders' equity | £11.06bn | £11.19bn | £11.09bn | £11.45bn | £9.92bn | £9.36bn | £9.45bn | £9.21bn | — | £7.05bn |
| Shares outstanding | 716m | 745m | 770m | 786m | 790m | 790m | 789m | 790m | 790m | 791m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.25bn | £2.87bn | £1.65bn | £1.15bn | £1.41bn | £1.75bn | £1.51bn | £1.43bn | £1.64bn | £1.31bn |
| Capital spending | −£1.10bn | −£1.12bn | −£1.07bn | −£769.0m | −£627.0m | −£622.0m | −£680.0m | −£787.0m | −£823.0m | −£774.0m |
| Free cash flow | £1.15bn | £1.75bn | £581.0m | £384.0m | £786.0m | £1.13bn | £829.0m | £643.0m | £818.0m | £536.0m |
| Dividends paid | −£656.0m | −£502.0m | −£345.0m | −£380.0m | −£49.0m | −£271.0m | −£358.0m | −£327.0m | −£299.0m | −£279.0m |
Latest quarters
By quarter end
| Feb 2026 | Sept 2025 | Sept 2025 | Feb 2025 | Sept 2024 | Sept 2024 | Feb 2024 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £9.47bn | £9.95bn | £9.95bn | £9.51bn | £10.34bn | £10.34bn | £9.73bn | £10.19bn |
| Operating income | £638.0m | £864.0m | £812.0m | £765.0m | £1.00bn | £954.0m | £931.0m | £720.0m |
| Net income | £445.0m | £505.0m | £505.0m | £520.0m | £792.0m | £792.0m | £663.0m | £517.0m |
| Diluted earnings per share | 0.63 | 0.71 | 0.71 | 0.73 | 1.06 | 1.07 | 0.89 | 0.67 |
| Cash from operations | £779.0m | £1.48bn | — | £755.0m | £1.72bn | — | £1.18bn | £1.54bn |
| Capital spending | −£464.0m | −£609.0m | — | −£490.0m | −£601.0m | — | −£523.0m | −£575.0m |
| Free cash flow | £315.0m | £866.0m | — | £265.0m | £1.12bn | — | £653.0m | £961.0m |
| Total assets | £19.63bn | £19.29bn | £19.29bn | £18.68bn | £19.01bn | £19.01bn | £18.74bn | £18.84bn |
| Cash and short-term investments | £712.0m | £1.06bn | £1.06bn | £824.0m | £1.66bn | £1.66bn | £1.27bn | £1.46bn |
| Debt | £710.0m | £551.0m | £3.13bn | £2.97bn | £426.0m | £3.25bn | £3.25bn | £503.0m |
| Shareholders' equity | £11.46bn | £11.06bn | £11.06bn | £10.99bn | £11.19bn | £11.19bn | £11.08bn | £11.09bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 7.4% | 9.5% | 7.1% | 7.5% | 6.3% | 6.4% |
| Net margin | 5.3% | 7.2% | 5.3% | 4.1% | 3.4% | 3.3% |
| Return on equity | 9.3% | 13.0% | 9.4% | 6.1% | 4.8% | 4.9% |
| Return on assets | 5.3% | 7.7% | 5.5% | 3.5% | 2.8% | 2.7% |
| Free cash flow yield | 0.3% | 0.3% | 0.2% | 0.1% | 0.1% | 0.2% |
| Revenue growth | -3.1% | 1.6% | 16.2% | 22.4% | -0.4% | -11.9% |
| Earnings growth | -29.6% | 39.4% | 49.1% | 46.4% | 5.1% | -48.2% |
| Current ratio | 1.54x | 1.78x | 1.83x | 1.93x | 1.86x | 1.82x |
| Debt to equity | 0.05x | 0.04x | 0.05x | 0.04x | 0.06x | 0.05x |
| Equity ratio | 57.3% | 58.8% | 58.9% | 57.9% | 58.7% | 56.1% |
| Interest coverage | 10.92x | 7.18x | 5.61x | 6.94x | 7.95x | 7.26x |
| R&D as a share of sales | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% |
| Buybacks as a share of market value | 3.9% | 3.2% | 2.0% | 0.5% | -0.0% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.6% | 6.9% | 4.3% |
| Operating income | 11.4% | 15.0% | 5.7% |
| Net income | 13.6% | 17.6% | 6.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.0% | 8.0% | 7.4% | 7.8% |
| Net margin | 6.3% | 5.5% | 5.0% | 5.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.9 | 10.5 | 17.5 | 17.7 | 33.2 | 39.3 | 23.3 | 16.0 | 18.6 | 26.6 |
| Price to sales | 0.8 | 0.8 | 0.9 | 0.7 | 1.1 | 1.3 | 1.3 | 1.0 | 1.4 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.63 | 0.63 | 0.538 | 0.441 | 0.343 | 0.062 | 0.343 | 0.454 |
- 1-to-1 reverse split · 22 Jul 2004
- 1-to-1 reverse split · 10 May 1999
- 2-for-1 split · 14 Dec 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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