J 
594.50p
+0.85%
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
£34.0m
FY2016FY2025
Free cash flow
£37.3m
FY2016FY2025
Shareholders' equity
£3.18bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | £41.1m | £559.1m | £167.2m | −£23.6m | £157.1m | £28.3m | £36.4m | £31.9m | £87.7m | £21.4m |
| Operating income | £39.3m | £557.7m | £165.9m | −£24.2m | £156.5m | £27.7m | £35.8m | £31.4m | £87.1m | £20.8m |
| Net income | £34.0m | £552.2m | £161.9m | −£25.6m | £155.2m | £26.6m | £34.9m | £30.8m | £86.4m | £20.4m |
| Diluted earnings per share | 0.07 | 1.29 | 0.50 | -0.16 | 1.06 | 0.19 | 0.27 | 0.24 | 0.70 | 0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £3.37bn | £2.90bn | £1.96bn | £726.6m | £720.3m | £524.6m | £473.6m | £444.5m | £411.4m | £333.0m |
| Cash and short-term investments | £179.2m | £178.3m | £160.7m | £42.0m | £55.9m | £37.0m | £12.5m | £8.0m | £6.1m | £11.4m |
| Total liabilities | £192.6m | £165.9m | £149.8m | £57.2m | £67.0m | £45.8m | £32.1m | £33.7m | £34.2m | £32.9m |
| Debt | £159.0m | £138.5m | £139.5m | £49.7m | £49.9m | £30.0m | £30.0m | £30.0m | £25.2m | £25.2m |
| Shareholders' equity | £3.18bn | £2.74bn | £1.81bn | £669.4m | £653.4m | £478.8m | £441.5m | £410.8m | £377.2m | £300.2m |
| Shares outstanding | 512m | 430m | 324m | 159m | 146m | 137m | 131m | 126m | 124m | 123m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £37.3m | £29.3m | £26.5m | £2.8m | £4.6m | £4.3m | £5.2m | £4.6m | £4.2m | — |
| Free cash flow | £37.3m | £29.3m | £26.5m | £2.8m | £4.6m | £4.3m | £5.2m | £4.6m | £4.2m | — |
| Dividends paid | −£137.7m | −£74.5m | −£46.4m | −£24.9m | −£18.9m | −£17.5m | −£16.1m | −£14.2m | −£9.4m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | £225.4m | £292.6m | −£23.3m | £78.9m | £382.9m | £195.3m | £184.3m | £96.1m |
| Operating income | £224.4m | £291.7m | −£28.1m | £78.1m | £386.1m | £193.0m | £187.5m | £93.8m |
| Net income | £218.1m | £286.1m | −£39.2m | £73.1m | £370.4m | £185.2m | £181.8m | £90.9m |
| Diluted earnings per share | 0.40 | 0.50 | -0.07 | 0.17 | 0.86 | 0.43 | 0.45 | 0.22 |
| Cash from operations | £18.0m | £15.0m | £20.0m | £10.0m | £17.0m | £8.0m | £11.0m | £5.0m |
| Capital spending | −£18.0m | — | — | — | — | — | — | — |
| Free cash flow | £0 | — | — | — | — | — | — | — |
| Total assets | £3.52bn | £3.46bn | £3.37bn | £3.09bn | £2.90bn | £2.90bn | £2.22bn | £2.22bn |
| Cash and short-term investments | £148.3m | £173.8m | £179.2m | £171.1m | £178.3m | £178.3m | £155.5m | £155.5m |
| Shareholders' equity | £3.36bn | £3.29bn | £3.18bn | £2.93bn | £2.74bn | £2.74bn | £2.07bn | £2.07bn |
Financial ratios
Data as of 23 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 97.7% | 26.1% | 100.0% | 234.7% | -21.7% | 91.6% | — | — | — | — | — |
| Operating margin | 97.3% | 39.1% | 96.6% | 227.2% | -25.9% | 158.4% | — | — | — | — | — |
| Net margin | 95.0% | 13.2% | 94.7% | 210.5% | -25.0% | 156.6% | — | — | — | — | — |
| Return on equity | 15.0% | 1.1% | 20.2% | 8.9% | -3.8% | 23.8% | — | — | — | — | — |
| Return on assets | 14.3% | 1.0% | 19.0% | 8.2% | -3.5% | 21.6% | — | — | — | — | — |
| Free cash flow yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Revenue growth | 106.6% | -55.9% | 657.9% | -24.7% | 3.0% | 250.4% | — | — | — | — | — |
| Earnings growth | 1383.4% | -93.8% | 241.2% | -733.2% | -116.5% | 482.6% | — | — | — | — | — |
| Current ratio | 18.86x | 6.34x | 6.67x | 16.88x | 20.63x | 5.33x | — | — | — | — | — |
| Debt to equity | — | — | — | — | — | 0.08x | 0.06x | 0.07x | 0.07x | 0.07x | 0.09x |
| Equity ratio | 95.3% | 94.3% | 94.3% | 92.4% | 92.1% | 90.7% | — | — | — | — | — |
| Interest coverage | 86.32x | — | 91.39x | 32.51x | -17.70x | 151.34x | 32.23x | — | — | — | — |
| R&D as a share of sales | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Buybacks as a share of market value | 4.8% | -33.4% | -6.3% | -56.2% | -66.9% | -8.2% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 12.0% | 5.6% |
| Operating income | — | 7.2% | 3.0% |
| Net income | — | 5.0% | 1.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 95.6% | 95.1% | 94.8% | 95.0% |
| Operating margin | 95.1% | 94.4% | 94.1% | 94.2% |
| Net margin | 93.4% | 92.4% | 92.2% | 92.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 86.5 | 4.5 | 10.1 | -26.4 | 4.4 | 19.9 | 13.0 | 11.7 | 4.7 | 16.6 |
| Price to sales | 52.9 | 4.4 | 9.4 | -36.0 | 4.1 | 16.8 | 11.9 | 10.9 | 4.5 | 16.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 27 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.23 | 0.228 | 0.184 | 0.17 | 0.17 | 0.132 | 0.13 | 0.125 |
- 5-for-1 split · 8 Jan 2016
- 1-to-1 reverse split · 30 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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