M 
Melrose Industries MRO.L · GBp
Industrials · Industrial Conglomerates · LSE · 🇬🇧 United Kingdom
FTSE 100
465.30p
-0.04%
Close of 6 Nov 2026, in pence
At a glance
Figures in GBP, from our data supplier.
Revenue
£3.59bn
FY2016FY2025
Net income
£370.0m
FY2016FY2025
Free cash flow
£119.0m
FY2016FY2025
Shareholders' equity
£2.83bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £3.59bn | £3.47bn | £3.35bn | £2.95bn | £6.65bn | £7.13bn | £10.97bn | £8.15bn | £2.09bn | £889.3m |
| Research and development | £112.0m | £107.0m | £99.0m | £103.0m | £242.0m | £254.0m | £335.0m | £243.0m | £63.0m | £23.1m |
| Operating income | £600.0m | −£4.0m | £57.0m | −£270.0m | −£493.0m | −£487.0m | £318.0m | −£387.0m | −£7.0m | −£61.6m |
| Net income | £370.0m | −£49.0m | −£1.02bn | −£308.0m | £833.0m | −£536.0m | −£60.0m | −£475.0m | −£24.0m | −£39.0m |
| Diluted earnings per share | 0.29 | -0.04 | -0.75 | -0.23 | 0.54 | -0.37 | -0.04 | -0.37 | -0.02 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £7.60bn | £7.44bn | £6.93bn | £13.99bn | £14.02bn | £16.68bn | £18.24bn | £19.74bn | £3.15bn | £3.65bn |
| Cash and short-term investments | £166.0m | £88.0m | £58.0m | £355.0m | £473.0m | £311.0m | £512.0m | £421.0m | £20.0m | £44.0m |
| Total liabilities | £4.75bn | £4.59bn | £3.36bn | £6.79bn | £6.46bn | £9.51bn | £10.61bn | £11.48bn | £1.26bn | £1.49bn |
| Debt | £1.90bn | £1.65bn | £822.0m | £1.86bn | £1.74bn | £3.65bn | £4.33bn | £3.81bn | £588.0m | £583.6m |
| Shareholders' equity | £2.83bn | £2.84bn | £3.57bn | £7.13bn | £7.51bn | £7.08bn | £7.53bn | £8.24bn | £1.89bn | £2.16bn |
| Shares outstanding | 1,257m | 1,351m | 1,351m | 1,351m | 1,529m | 1,457m | 1,619m | 1,281m | 1,165m | 1,132m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £214.0m | −£121.0m | £29.0m | £204.0m | £263.0m | £821.0m | £749.0m | £373.0m | £32.0m | £50.6m |
| Capital spending | −£95.0m | −£123.0m | −£95.0m | −£298.0m | −£238.0m | −£290.0m | −£519.0m | −£328.0m | −£48.0m | −£16.8m |
| Free cash flow | £119.0m | −£244.0m | −£66.0m | −£94.0m | £25.0m | £531.0m | £230.0m | £45.0m | −£16.0m | £33.8m |
| Dividends paid | −£82.0m | −£72.0m | −£81.0m | −£77.0m | −£69.0m | −£69.0m | −£231.0m | −£129.0m | −£63.0m | −£5.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.87bn | £1.87bn | £1.72bn | £1.73bn | £1.74bn | £1.72bn | £1.63bn | £1.59bn |
| Operating income | £210.0m | £159.0m | £441.0m | £58.0m | −£62.0m | £75.0m | −£18.0m | £11.0m |
| Net income | £75.0m | £85.0m | £285.0m | £31.0m | −£80.0m | £41.0m | −£1.06bn | £52.0m |
| Diluted earnings per share | 0.06 | 0.07 | 0.23 | 0.02 | -0.06 | 0.03 | -0.78 | 0.04 |
| Cash from operations | £83.0m | £206.0m | £8.0m | −£30.0m | −£90.0m | £165.0m | −£134.0m | £51.0m |
| Capital spending | −£47.0m | −£40.0m | −£46.0m | −£58.0m | −£50.0m | −£66.0m | −£40.0m | −£74.0m |
| Free cash flow | £36.0m | £166.0m | −£38.0m | −£88.0m | −£140.0m | £99.0m | −£174.0m | −£23.0m |
| Total assets | £7.91bn | £7.60bn | £7.33bn | £7.44bn | £7.12bn | £6.93bn | £7.08bn | £13.99bn |
| Cash and short-term investments | £200.0m | £166.0m | £124.0m | £88.0m | £189.0m | £58.0m | £110.0m | £355.0m |
| Debt | £80.0m | £1.60bn | £1.56bn | £1.44bn | £1.20bn | £670.0m | £703.0m | £1.56bn |
| Shareholders' equity | £2.86bn | £2.83bn | £2.85bn | £2.84bn | £3.06bn | £3.57bn | £3.66bn | £7.13bn |
Financial ratios
Data as of 8 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 16.6% | -0.2% | 1.7% | -9.1% | -4.1% | -5.9% |
| Net margin | 10.3% | -1.4% | -30.4% | -10.4% | 12.5% | -7.5% |
| Return on equity | 13.1% | -1.7% | -28.6% | -4.3% | 11.1% | -7.6% |
| Return on assets | 4.9% | -0.7% | -14.7% | -2.2% | 5.9% | -3.2% |
| Free cash flow yield | 0.1% | 0.0% | 0.0% | 0.1% | 0.1% | 0.2% |
| Revenue growth | 3.5% | 3.5% | 13.4% | -55.6% | -6.8% | -35.0% |
| Earnings growth | -855.1% | -95.2% | 230.8% | -137.0% | -255.4% | 793.3% |
| Current ratio | 0.98x | 0.90x | 0.86x | 0.96x | 0.83x | 0.94x |
| Debt to equity | 0.57x | 0.51x | 0.19x | 0.22x | 0.19x | 0.45x |
| Equity ratio | 37.2% | 38.2% | 51.5% | 51.0% | 53.5% | 42.5% |
| Interest coverage | 4.78x | -0.08x | 0.93x | -3.16x | -1.67x | -2.46x |
| R&D as a share of sales | 3.1% | 3.1% | 3.0% | 3.5% | 3.6% | 3.6% |
| Buybacks as a share of market value | 7.0% | 0.0% | 0.0% | 11.6% | -4.9% | 10.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.7% | -12.8% | 30.0% |
| Operating income | — | — | 62.1% |
| Net income | — | — | -12.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.4% | 2.9% | -2.2% | -1.5% |
| Net margin | 4.5% | -7.5% | -2.6% | 0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.9 | -151.5 | -7.5 | -12.4 | 6.1 | -11.3 | -151.7 | -10.3 | -240.7 | -134.2 |
| Price to sales | 2.1 | 2.1 | 2.3 | 1.3 | 0.8 | 0.8 | 0.8 | 0.6 | 2.8 | 5.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 13 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.075 | 0.064 | 2.035 | 1.545 | 0.055 | 2.725 | 0.158 | 0.145 |
- 3-to-1 reverse split · 20 Apr 2023
- 10-to-9 reverse split · 31 Aug 2021
- 48-to-7 reverse split · 28 Jan 2016
- 1-to-1 reverse split · 19 Nov 2015
- 14-to-13 reverse split · 23 Feb 2015
- 13-to-11 reverse split · 10 Feb 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.