N 
Next NXT.L · GBp
Consumer Discretionary · Multiline Retail · LSE · 🇬🇧 United Kingdom
FTSE 100
15,530.00p
+0.29%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£6.90bn
FY2017FY2026
Net income
£888.5m
FY2017FY2026
Free cash flow
£1.00bn
FY2017FY2026
Shareholders' equity
£1.66bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £6.90bn | £6.12bn | £5.49bn | £5.03bn | £4.63bn | £3.53bn | £4.27bn | £4.17bn | £4.09bn | £4.10bn |
| Gross profit | £3.05bn | £2.64bn | £2.42bn | £2.21bn | £1.98bn | £1.24bn | £1.68bn | £1.61bn | £1.42bn | £1.39bn |
| Operating income | £1.28bn | £1.08bn | £987.9m | £941.5m | £905.4m | £444.5m | £855.3m | £839.6m | £760.0m | £826.6m |
| Net income | £888.5m | £736.1m | £802.3m | £711.7m | £677.5m | £286.7m | £610.2m | £590.4m | £591.8m | £635.3m |
| Diluted earnings per share | 7.60 | 6.16 | 6.55 | 5.81 | 5.48 | 2.22 | 4.69 | 4.33 | 4.16 | 4.38 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.92bn | £4.87bn | £4.72bn | £3.98bn | £3.98bn | £3.76bn | £3.67bn | £3.74bn | £2.56bn | £2.40bn |
| Cash and short-term investments | £102.6m | £200.4m | £188.3m | £105.0m | £468.5m | £619.3m | £88.3m | £156.3m | £53.5m | £49.7m |
| Total liabilities | £3.13bn | £3.12bn | £3.09bn | £2.82bn | £2.97bn | £3.10bn | £3.23bn | £3.38bn | £2.08bn | £1.89bn |
| Debt | £1.81bn | £1.87bn | £1.92bn | £1.92bn | £2.11bn | £2.44bn | £2.49bn | £2.65bn | £1.09bn | £948.8m |
| Shareholders' equity | £1.66bn | £1.64bn | £1.51bn | £1.16bn | £1.01bn | £660.9m | £441.5m | £366.2m | £482.6m | £510.5m |
| Shares outstanding | 117m | 120m | 123m | 123m | 124m | 129m | 130m | 136m | 142m | 145m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £1.14bn | £1.13bn | £1.12bn | £798.8m | £971.4m | £824.8m | £927.2m | £868.8m | £615.2m | £699.5m |
| Capital spending | −£135.4m | −£157.5m | −£188.2m | −£246.1m | −£266.3m | −£161.3m | −£136.4m | −£123.2m | −£112.8m | −£157.0m |
| Free cash flow | £1.00bn | £976.4m | £932.1m | £552.7m | £705.1m | £663.5m | £790.8m | £745.6m | £502.4m | £542.5m |
| Dividends paid | −£286.5m | −£257.8m | −£248.3m | −£237.4m | −£344.5m | −£118.2m | −£213.6m | −£215.7m | −£479.7m | −£314.1m |
Latest quarters
By quarter end
| Jul 2026 | Jan 2026 | Jul 2025 | Jan 2025 | Jul 2024 | Jan 2024 | Jul 2023 | Jan 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £3.45bn | £3.76bn | £3.14bn | £1.63bn | £2.86bn | £2.97bn | £2.52bn | £2.65bn |
| Gross profit | £1.50bn | £1.68bn | £1.38bn | £717.6m | £1.23bn | £1.36bn | £1.12bn | £1.20bn |
| Operating income | £610.0m | £730.1m | £547.1m | £299.9m | £485.0m | £532.5m | £434.5m | £454.1m |
| Net income | £419.6m | £509.0m | £379.5m | £206.6m | £322.9m | £484.0m | £321.8m | £383.2m |
| Diluted earnings per share | 3.59 | 4.35 | 3.18 | 1.73 | 2.64 | 3.96 | 2.62 | 3.13 |
| Cash from operations | £488.0m | £735.0m | £404.0m | £381.0m | £185.0m | — | £466.0m | £535.0m |
| Capital spending | −£133.0m | −£72.0m | −£62.0m | −£32.0m | −£32.0m | — | −£96.0m | −£117.0m |
| Free cash flow | £355.0m | £663.0m | £342.0m | £349.0m | £153.0m | — | £370.0m | £418.0m |
| Total assets | £5.11bn | £4.92bn | £5.29bn | £4.87bn | £4.76bn | £4.72bn | £3.98bn | £3.98bn |
| Cash and short-term investments | £89.7m | £102.6m | £441.1m | £200.4m | £153.6m | £188.3m | £168.8m | £114.1m |
| Debt | £1.12bn | £977.0m | £1.55bn | £1.03bn | £1.62bn | £1.69bn | £993.5m | £1.04bn |
| Shareholders' equity | £1.50bn | £1.66bn | £1.70bn | £1.64bn | £1.36bn | £1.51bn | £1.10bn | £1.16bn |
Financial ratios
Data as of 30 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 44.2% | 43.2% | 44.1% | 43.8% | 42.9% | 35.1% |
| Operating margin | 18.5% | 17.7% | 18.0% | 18.7% | 19.6% | 12.6% |
| Net margin | 12.9% | 12.0% | 14.6% | 14.1% | 14.6% | 8.1% |
| Return on equity | 53.4% | 45.0% | 53.1% | 61.3% | 67.1% | 43.4% |
| Return on assets | 18.1% | 15.1% | 17.0% | 17.9% | 17.0% | 7.6% |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Revenue growth | 12.8% | 11.4% | 9.1% | 8.8% | 30.9% | -17.2% |
| Earnings growth | 20.7% | -8.3% | 12.7% | 5.0% | 136.3% | -53.0% |
| Current ratio | 1.76x | 1.69x | 1.96x | 2.04x | 1.99x | 1.91x |
| Debt to equity | 0.59x | 0.63x | 0.69x | 0.90x | 1.20x | 2.16x |
| Equity ratio | 33.8% | 33.6% | 32.0% | 29.1% | 25.4% | 17.6% |
| Interest coverage | 13.14x | 11.22x | 11.29x | 12.09x | 10.47x | 4.32x |
| Buybacks as a share of market value | 2.2% | 2.4% | 0.1% | 0.8% | 4.3% | 0.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.1% | 14.3% | 5.1% |
| Operating income | 10.7% | 23.5% | 3.9% |
| Net income | 7.7% | 25.4% | 2.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 43.8% | 43.8% | 42.7% | 40.2% |
| Operating margin | 18.1% | 18.2% | 17.8% | 18.7% |
| Net margin | 12.5% | 13.3% | 12.9% | 13.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.9 | 22.2 | 14.5 | 14.0 | 10.6 | 36.7 | 15.1 | 16.2 | 9.6 | 10.3 |
| Price to sales | 2.6 | 2.7 | 2.1 | 2.0 | 1.6 | 3.0 | 2.2 | 2.3 | 1.4 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 2 Jul 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.81 | 6.05 | 2.16 | 2.06 | 1.93 | 2.70 | 1.675 | 1.60 |
- 1-to-1 reverse split · 27 Nov 2002
- 1-to-1 reverse split · 25 Nov 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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