S 
941.00p
+1.40%
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
−£443.0m
FY2016FY2025
Total assets
£332.24bn
FY2016FY2025
Shareholders' equity
£738.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating income | £20.0m | −£1.11bn | £262.0m | −£4.09bn | −£430.0m | £1.27bn | £351.0m | £259.0m | −£7.0m | −£70.0m |
| Net income | −£443.0m | −£1.09bn | £56.0m | −£2.72bn | −£837.0m | £798.0m | £85.0m | £379.0m | −£27.0m | −£101.0m |
| Diluted earnings per share | -0.44 | -1.09 | 0.06 | -2.72 | -0.84 | 0.66 | 0.12 | 0.38 | -0.03 | -0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £332.24bn | £307.86bn | £299.31bn | £281.04bn | £327.77bn | £334.32bn | £242.68bn | £229.98bn | £83.44bn | £86.00bn |
| Cash and short-term investments | £7.30bn | £9.45bn | £7.22bn | £8.84bn | £9.11bn | £11.00bn | £4.47bn | £354.0m | £367.0m | £149.0m |
| Total liabilities | £330.95bn | £305.61bn | £295.77bn | £276.80bn | £318.94bn | £326.45bn | £237.08bn | £224.03bn | £80.29bn | £82.67bn |
| Debt | £59.0m | £4.23bn | £3.88bn | £4.65bn | £4.82bn | £5.14bn | £2.70bn | £2.68bn | £1.78bn | £2.04bn |
| Shareholders' equity | £738.0m | £1.71bn | £2.99bn | £3.71bn | £5.82bn | £7.53bn | £5.28bn | £5.66bn | £3.15bn | £3.33bn |
| Shares outstanding | 1,002m | 1,001m | 1,007m | 1,000m | 998m | 1,212m | 723m | 1,000m | 1,000m | 1,000m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | £93.0m | £12.0m | £8.0m | −£438.0m | −£669.0m | £634.0m | −£372.0m | −£1.94bn |
| Net income | −£189.0m | −£275.0m | −£168.0m | −£434.0m | −£656.0m | £317.0m | −£261.0m | −£1.44bn |
| Diluted earnings per share | -0.19 | -0.27 | -0.17 | -0.43 | -0.66 | 0.31 | -0.26 | -1.44 |
| Total assets | £352.22bn | £332.24bn | £309.97bn | £307.86bn | £304.53bn | £299.39bn | £288.79bn | £281.04bn |
| Cash and short-term investments | £7.45bn | £7.30bn | £9.98bn | £9.45bn | £9.66bn | £7.22bn | £8.05bn | £8.84bn |
| Debt | — | £3.07bn | £3.25bn | £3.83bn | £3.54bn | £99.0m | — | £73.0m |
| Shareholders' equity | −£218.0m | £738.0m | £1.26bn | £1.71bn | £2.30bn | £3.24bn | £3.25bn | £3.71bn |
Financial ratios
Data as of 11 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 0.8% | -3.3% | 1.9% | 44.6% | -0.8% | 6.9% | — | — | — |
| Net margin | -1.2% | -4.4% | 0.2% | 31.5% | -3.4% | 3.7% | — | — | — |
| Return on equity | -60.0% | -63.9% | 1.9% | -73.5% | -14.4% | 10.6% | — | — | — |
| Return on assets | -0.1% | -0.4% | 0.0% | -1.0% | -0.3% | 0.2% | — | — | — |
| Revenue growth | 48.9% | -6.3% | -408.4% | -135.5% | 12.1% | 94.9% | — | — | — |
| Earnings growth | -59.4% | -2046.4% | -102.1% | 225.4% | -204.9% | 838.8% | — | — | — |
| Current ratio | 3.55x | 0.00x | — | — | 0.82x | — | 0.95x | 0.78x | 1.81x |
| Debt to equity | 4.16x | 2.24x | 1.30x | 1.08x | 0.81x | 0.04x | — | — | — |
| Equity ratio | 0.2% | 0.6% | 1.0% | 1.3% | 1.8% | 2.3% | — | — | — |
| Interest coverage | 1.08x | -2.82x | 2.02x | -16.78x | -0.78x | 6.43x | — | — | — |
| Buybacks as a share of market value | -0.1% | 0.6% | -0.7% | -0.2% | 17.7% | -67.6% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 11.4% | 49.1% |
| Operating income | — | -56.4% | -18.4% |
| Net income | -45.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.7% | -6.1% | -3.2% | -2.2% |
| Net margin | -2.5% | -5.2% | -3.4% | -2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.7 | -4.7 | 96.2 | -2.2 | -7.8 | 10.6 | 63.7 | 14.9 | -260.4 | -65.4 |
| Price to sales | 0.2 | 0.2 | 0.2 | -0.7 | 0.3 | 0.4 | 0.5 | 0.9 | 1.2 | 0.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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