R 
2,974.00p
-1.39%
Close of 9 Nov 2026, in pence
Search any instrument
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
£9.59bn
FY2016FY2025
Net income
£2.06bn
FY2016FY2025
Free cash flow
£2.31bn
FY2016FY2025
Shareholders' equity
£2.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £9.59bn | £9.43bn | £9.16bn | £8.55bn | £7.24bn | £7.11bn | £7.87bn | £7.49bn | £7.34bn | £6.89bn |
| Gross profit | £6.36bn | £6.13bn | £5.95bn | £5.51bn | £4.68bn | £4.62bn | £5.12bn | £4.85bn | £4.71bn | £4.40bn |
| Research and development | — | — | — | £309.0m | — | — | — | — | — | — |
| Operating income | £2.98bn | £2.82bn | £2.64bn | £2.31bn | £1.87bn | £1.76bn | £2.06bn | £1.93bn | £1.87bn | £1.67bn |
| Net income | £2.06bn | £1.93bn | £1.78bn | £1.63bn | £1.47bn | £1.22bn | £1.50bn | £1.42bn | £1.65bn | £1.15bn |
| Diluted earnings per share | 1.12 | 1.03 | 0.94 | 0.85 | 0.76 | 0.64 | 0.77 | 0.71 | 0.80 | 0.55 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £14.76bn | £15.13bn | £14.92bn | £15.83bn | £13.86bn | £14.14bn | £13.79bn | £14.00bn | £12.63bn | £13.71bn |
| Cash and short-term investments | £131.0m | £119.0m | £155.0m | £334.0m | £113.0m | £88.0m | £138.0m | £114.0m | £111.0m | £162.0m |
| Total liabilities | £12.39bn | £11.65bn | £11.46bn | £12.05bn | £10.63bn | £12.05bn | £11.62bn | £11.67bn | £10.34bn | £11.44bn |
| Debt | £7.27bn | £6.54bn | £6.50bn | £6.73bn | £6.17bn | £7.12bn | £6.41bn | £6.37bn | £5.25bn | £5.26bn |
| Shareholders' equity | £2.37bn | £3.48bn | £3.46bn | £3.78bn | £3.23bn | £2.10bn | £2.17bn | £2.33bn | £2.29bn | £2.27bn |
| Shares outstanding | 1,844m | 1,877m | 1,903m | 1,929m | 1,939m | 1,938m | 1,956m | 1,991m | 2,035m | 2,080m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.84bn | £2.61bn | £2.46bn | £2.40bn | £2.02bn | £1.60bn | £2.09bn | £1.99bn | £1.91bn | £1.74bn |
| Capital spending | −£525.0m | −£484.0m | −£477.0m | −£436.0m | −£337.0m | −£362.0m | −£380.0m | −£362.0m | −£354.0m | −£333.0m |
| Free cash flow | £2.31bn | £2.12bn | £1.98bn | £1.97bn | £1.68bn | £1.23bn | £1.71bn | £1.62bn | £1.56bn | £1.41bn |
| Dividends paid | −£1.18bn | −£1.12bn | −£1.06bn | −£983.0m | −£920.0m | −£880.0m | −£842.0m | −£796.0m | −£762.0m | −£683.0m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £4.85bn | £4.74bn | £4.79bn | £4.64bn | £4.66bn | £4.50bn | £2.25bn | £4.58bn |
| Gross profit | £3.22bn | £3.14bn | £3.10bn | £3.03bn | £3.04bn | £2.90bn | £1.45bn | £2.94bn |
| Operating income | £1.52bn | £1.46bn | £1.41bn | £1.41bn | £1.37bn | £1.31bn | £569.5m | £1.23bn |
| Net income | £1.09bn | £976.0m | £949.0m | £985.0m | £907.0m | £874.0m | £436.5m | £873.0m |
| Diluted earnings per share | 0.59 | 0.53 | 0.51 | 0.52 | 0.48 | 0.46 | 0.23 | 0.45 |
| Total assets | £14.76bn | £14.32bn | £15.13bn | £14.71bn | £14.92bn | £14.66bn | £14.66bn | £15.83bn |
| Cash and short-term investments | £131.0m | £211.0m | £119.0m | £140.0m | £155.0m | £99.0m | £99.0m | £334.0m |
| Debt | £5.70bn | £5.59bn | £5.89bn | £5.18bn | £5.40bn | £5.26bn | £5.26bn | £5.96bn |
| Shareholders' equity | £2.37bn | £2.18bn | £3.48bn | £3.21bn | £3.46bn | £3.27bn | £3.25bn | £3.78bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 63.7% | 65.0% | 64.9% | 64.4% | 64.6% | 65.0% | — | — |
| Operating margin | 31.1% | 30.3% | 29.3% | 27.2% | 26.0% | 21.4% | — | — |
| Net margin | 21.5% | 20.5% | 19.4% | 19.1% | 20.3% | 17.2% | — | — |
| Return on equity | 87.3% | 55.6% | 51.5% | 43.3% | 45.5% | 58.3% | — | — |
| Return on assets | 14.0% | 12.8% | 11.9% | 10.3% | 10.6% | 8.7% | — | — |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | — | — |
| Revenue growth | 1.7% | 3.0% | 7.1% | 18.1% | 1.9% | -9.7% | — | — |
| Earnings growth | 6.8% | 8.6% | 9.0% | 11.1% | 20.2% | -18.7% | — | — |
| Current ratio | 0.49x | 0.52x | 0.52x | 0.59x | 0.63x | 0.52x | — | — |
| Debt to equity | 3.06x | 1.86x | 1.85x | 1.75x | 1.87x | 3.31x | — | — |
| Equity ratio | 16.0% | 23.0% | 23.2% | 23.9% | 23.3% | 14.8% | — | — |
| Interest coverage | 10.01x | 10.18x | 8.94x | 12.76x | 12.56x | 10.10x | — | — |
| R&D as a share of sales | — | 3.9% | 3.6% | 3.6% | 4.1% | — | 2.8% | 2.7% |
| Buybacks as a share of market value | 1.9% | 1.4% | 1.4% | 0.3% | 0.4% | 0.5% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.9% | 6.2% | 4.9% |
| Operating income | 9.0% | 11.2% | 7.6% |
| Net income | 8.1% | 11.0% | 7.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 65.7% | 65.2% | 65.1% | 64.8% |
| Operating margin | 30.5% | 29.2% | 28.1% | 26.9% |
| Net margin | 21.0% | 20.2% | 19.8% | 19.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 27.0 | 35.2 | 33.2 | 27.0 | 31.7 | 28.4 | 24.8 | 22.6 | 21.5 | 26.2 |
| Price to sales | 5.8 | 7.2 | 6.5 | 5.2 | 6.4 | 4.9 | 4.7 | 4.3 | 4.8 | 4.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 37 years. Last went ex-dividend on 7 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.48 | 0.643 | 0.60 | 0.559 | 0.512 | 0.477 | 0.457 | 0.433 |
- 67-to-58 reverse split · 7 Jan 2008
- 2-for-1 split · 6 May 1997
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.