W 
2,358.00p
0.00%
Close of 6 Nov 2026, in pence
At a glance
Figures in GBP, from our data supplier.
Revenue
£2.56bn
FY2016FY2025
Net income
£246.9m
FY2016FY2025
Free cash flow
£263.2m
FY2016FY2025
Shareholders' equity
£1.91bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £2.56bn | £2.51bn | £2.64bn | £2.47bn | £1.93bn | £1.96bn | £2.05bn | £2.45bn | £1.99bn | £1.84bn |
| Gross profit | £1.09bn | £1.02bn | £994.9m | £909.7m | £692.1m | £687.1m | £727.3m | £816.9m | £669.4m | £603.2m |
| Research and development | £55.2m | £47.9m | £48.2m | £46.9m | £30.6m | £24.8m | £24.3m | £42.3m | £25.6m | £27.5m |
| Operating income | £486.1m | £391.0m | £368.4m | £360.3m | £249.8m | £265.1m | £265.7m | £275.1m | £230.0m | £153.6m |
| Net income | £246.9m | £312.2m | £227.9m | £213.4m | £153.3m | −£154.7m | −£358.2m | £53.0m | £161.7m | £38.3m |
| Diluted earnings per share | 0.95 | 1.20 | 0.88 | 0.82 | 0.59 | -0.60 | -1.38 | 0.20 | 0.73 | 0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £4.54bn | £3.79bn | £3.89bn | £4.06bn | £3.50bn | £3.54bn | £3.85bn | £4.74bn | £3.59bn | £3.52bn |
| Cash and short-term investments | £509.0m | £556.4m | £707.2m | £691.2m | £564.4m | £351.7m | £273.8m | £263.0m | £284.6m | £258.6m |
| Total liabilities | £2.62bn | £1.93bn | £2.19bn | £2.32bn | £2.04bn | £2.24bn | £2.34bn | £2.60bn | £2.12bn | £2.14bn |
| Debt | £1.78bn | £1.09bn | £1.40bn | £1.49bn | £1.34bn | £1.36bn | £1.43bn | £1.40bn | £1.13bn | £1.09bn |
| Shareholders' equity | £1.91bn | £1.84bn | £1.69bn | £1.73bn | £1.44bn | £1.30bn | £1.51bn | £2.14bn | £1.47bn | £1.38bn |
| Shares outstanding | 260m | 260m | 260m | 260m | 261m | 260m | 260m | 267m | 221m | 217m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £323.2m | £449.9m | £394.3m | £320.8m | £156.1m | £224.0m | £263.5m | £217.9m | £128.4m | £216.0m |
| Capital spending | −£60.0m | −£72.5m | −£86.7m | −£62.7m | −£52.8m | −£71.7m | −£116.6m | −£77.7m | −£67.8m | −£50.5m |
| Free cash flow | £263.2m | £377.4m | £307.6m | £258.1m | £103.3m | £152.3m | £146.9m | £140.2m | £60.6m | £165.5m |
| Dividends paid | −£107.6m | −£99.8m | −£95.9m | −£66.7m | −£29.8m | −£10.9m | −£121.7m | −£79.6m | −£74.2m | −£45.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.27bn | £1.37bn | £1.19bn | £1.30bn | £1.21bn | £1.34bn | £1.30bn | £1.38bn |
| Gross profit | £490.0m | £549.8m | £486.7m | £536.4m | £474.8m | £501.1m | £468.3m | £476.7m |
| Operating income | £216.0m | £260.6m | £189.3m | £244.9m | £187.7m | £230.8m | £194.1m | £201.1m |
| Net income | £128.6m | £134.4m | £112.5m | £195.3m | £116.9m | £101.9m | £126.0m | £121.3m |
| Diluted earnings per share | 0.50 | 0.52 | 0.43 | 0.75 | 0.45 | 0.39 | 0.49 | 0.47 |
| Cash from operations | £40.0m | £247.0m | £75.0m | £317.0m | £122.0m | £272.0m | £86.0m | £266.0m |
| Capital spending | −£23.0m | −£29.0m | −£30.0m | −£41.0m | −£26.0m | −£49.0m | −£37.0m | −£41.0m |
| Free cash flow | £17.0m | £218.0m | £45.0m | £276.0m | £96.0m | £223.0m | £49.0m | £225.0m |
| Total assets | £4.64bn | £4.54bn | £4.23bn | £3.79bn | £3.86bn | £3.89bn | £3.86bn | £4.06bn |
| Cash and short-term investments | £386.6m | £509.0m | £439.2m | £556.4m | £651.9m | £707.2m | £626.9m | £691.2m |
| Debt | £1.70bn | £1.65bn | £1.53bn | £989.7m | £1.28bn | £1.31bn | £1.38bn | £1.40bn |
| Shareholders' equity | £2.00bn | £1.91bn | £1.77bn | £1.84bn | £1.73bn | £1.69bn | £1.65bn | £1.73bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.2% | 5.5% | 3.2% |
| Operating income | 10.5% | 12.9% | 9.6% |
| Net income | 5.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 41.6% | 39.4% | 38.3% | 36.4% |
| Operating margin | 17.3% | 15.8% | 15.1% | 13.3% |
| Net margin | 11.0% | 9.8% | 7.1% | 3.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 30.0 | 18.2 | 21.6 | 20.4 | 29.2 | -33.4 | -10.9 | 65.5 | 29.1 | 106.5 |
| Price to sales | 2.9 | 2.3 | 1.9 | 1.8 | 2.3 | 2.6 | 1.9 | 1.4 | 2.4 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 30 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.221 | 0.417 | 0.387 | 0.371 | 0.258 | 0.115 | 0.47 | 0.448 |
- 2-for-1 split · 28 Jun 1993
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.