C 
154.35p
+1.88%
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
£19.49bn
FY2016FY2025
Net income
−£72.0m
FY2016FY2025
Free cash flow
£322.0m
FY2016FY2025
Shareholders' equity
£3.08bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £19.49bn | £19.91bn | £26.46bn | £23.74bn | £14.74bn | £12.25bn | £12.99bn | £29.69bn | £28.02bn | £27.10bn |
| Operating income | £5.10bn | £1.70bn | £6.51bn | £8.31bn | £244.0m | £1.87bn | £2.58bn | £987.0m | £486.0m | £2.49bn |
| Net income | −£72.0m | £1.33bn | £3.93bn | −£782.0m | £586.0m | £41.0m | −£964.0m | £183.0m | £333.0m | £1.67bn |
| Diluted earnings per share | -0.06 | 0.27 | 0.73 | -0.13 | 0.10 | 0.01 | -0.17 | 0.03 | 0.06 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £15.41bn | £18.73bn | £21.37bn | £29.04bn | £27.09bn | £17.12bn | £18.15bn | £20.56bn | £20.67bn | £21.89bn |
| Cash and short-term investments | £4.31bn | £6.22bn | £6.85bn | £4.84bn | £5.06bn | £1.82bn | £1.47bn | £1.34bn | £2.87bn | £1.89bn |
| Total liabilities | £11.92bn | £13.92bn | £17.13bn | £27.76bn | £24.34bn | £15.74bn | £16.36bn | £16.61bn | £17.24bn | £19.05bn |
| Debt | £2.86bn | £3.51bn | £4.10bn | £3.96bn | £4.58bn | £5.29bn | £5.26bn | £4.75bn | £6.30bn | £6.53bn |
| Shareholders' equity | £3.08bn | £4.42bn | £3.88bn | £1.02bn | £2.37bn | £957.0m | £1.21bn | £3.15bn | £2.70bn | £2.67bn |
| Shares outstanding | 1,153m | 5,008m | 5,369m | 5,858m | 5,848m | 5,843m | 5,816m | 5,500m | 5,780m | 5,822m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £876.0m | £1.54bn | £2.95bn | £1.31bn | £1.38bn | £1.27bn | £1.25bn | £1.67bn | £1.60bn | £2.40bn |
| Capital spending | −£554.0m | −£416.0m | −£335.0m | −£371.0m | −£420.0m | −£489.0m | −£781.0m | −£574.0m | −£610.0m | −£621.0m |
| Free cash flow | £322.0m | £1.12bn | £2.62bn | £943.0m | £962.0m | £778.0m | £469.0m | £1.09bn | £992.0m | £1.78bn |
| Dividends paid | −£237.0m | −£219.0m | −£186.0m | −£59.0m | −£59.0m | −£59.0m | −£471.0m | −£551.0m | −£463.0m | −£532.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £10.18bn | £9.37bn | £10.12bn | £9.37bn | £10.54bn | £9.94bn | £16.52bn | £8.26bn |
| Operating income | £2.63bn | £1.89bn | £3.22bn | £2.06bn | £1.68bn | £3.00bn | £10.12bn | £5.06bn |
| Net income | £532.0m | £179.0m | −£251.0m | £7.0m | £1.32bn | −£221.0m | £4.15bn | £2.08bn |
| Diluted earnings per share | 0.12 | 0.16 | -0.22 | 0.00 | 0.26 | -0.04 | 0.77 | 0.39 |
| Cash from operations | £47.0m | £438.0m | £438.0m | £486.0m | £1.05bn | £411.0m | £2.54bn | £1.24bn |
| Capital spending | −£276.0m | −£324.0m | −£230.0m | −£251.0m | −£165.0m | −£159.0m | −£176.0m | −£76.0m |
| Free cash flow | −£229.0m | £114.0m | £208.0m | £235.0m | £887.0m | £252.0m | £2.37bn | £1.17bn |
| Total assets | £15.62bn | £15.41bn | £16.21bn | £18.73bn | £18.07bn | £21.37bn | £22.40bn | £22.40bn |
| Cash and short-term investments | £3.47bn | £4.31bn | £5.38bn | £6.22bn | £6.46bn | £6.85bn | £6.84bn | £7.04bn |
| Debt | £220.0m | £2.62bn | £2.72bn | £3.27bn | £3.00bn | £3.82bn | £4.29bn | — |
| Shareholders' equity | £3.40bn | £3.08bn | £3.30bn | £4.42bn | £4.90bn | £3.88bn | £4.58bn | £4.58bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2011 | FY2010 | FY2009 | FY2000 | FY1999 | FY1998 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 26.2% | 9.8% | 25.6% | -1.1% | -0.5% | -3.2% | — | — | — | — | — | — |
| Net margin | -0.4% | 6.7% | 14.8% | -3.3% | 4.0% | 0.3% | — | — | — | — | — | — |
| Return on equity | -2.3% | 30.1% | 101.3% | -76.9% | 24.8% | 4.3% | — | — | — | — | — | — |
| Return on assets | -0.5% | 7.1% | 18.4% | -2.7% | 2.2% | 0.2% | — | — | — | — | — | — |
| Free cash flow yield | 0.8% | 0.3% | 0.4% | 0.2% | 0.2% | 0.2% | — | — | — | — | — | — |
| Revenue growth | -2.1% | -24.7% | 11.4% | 61.0% | 20.4% | -5.7% | — | — | — | — | — | — |
| Earnings growth | -105.4% | -66.1% | -602.4% | -233.4% | 1329.3% | -104.3% | — | — | — | — | — | — |
| Current ratio | 1.45x | 1.59x | 1.44x | 0.95x | 1.11x | 1.36x | — | — | — | — | — | — |
| Debt to equity | 0.85x | 0.74x | 0.98x | 3.72x | 1.85x | 5.27x | — | — | — | — | — | — |
| Equity ratio | 20.0% | 23.6% | 18.1% | 3.5% | 8.7% | 5.6% | — | — | — | — | — | — |
| Interest coverage | 23.19x | 7.24x | 22.15x | -1.18x | -0.40x | -1.75x | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.2% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 77.0% | 6.7% | 8.4% | -0.2% | -0.1% | -0.5% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.4% | 9.7% | -3.5% |
| Operating income | -15.0% | 22.2% | — |
| Net income | -54.8% | — | -20.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 17.3% | 24.1% | 20.4% | 12.1% |
| Net margin | 3.2% | 4.9% | 4.3% | 2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -27.1 | 5.0 | 1.9 | -7.2 | 7.1 | 66.4 | -5.4 | 40.5 | 23.8 | 8.2 |
| Price to sales | 0.1 | 0.3 | 0.3 | 0.2 | 0.3 | 0.2 | 0.4 | 0.3 | 0.3 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 9 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.037 | 0.048 | 0.042 | 0.033 | 0.01 | 0.099 | 0.12 | 0.12 |
- 1.007-for-1 split · 25 Oct 2004
- 1-to-1 reverse split · 28 Sept 2004
- 1-to-1 reverse split · 29 Nov 2002
- 1-to-1 reverse split · 5 Jun 2002
- 1-to-1 reverse split · 11 May 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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