W 
Whitbread WTB.L · GBp
Consumer Discretionary · Hotels, Restaurants & Leisure · LSE · 🇬🇧 United Kingdom
FTSE 100
2,763.00p
-2.26%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£2.92bn
FY2017FY2026
Net income
£212.9m
FY2017FY2026
Free cash flow
£98.5m
FY2017FY2026
Shareholders' equity
£3.14bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £2.92bn | £2.92bn | £2.96bn | £2.63bn | £1.70bn | £588.9m | £2.06bn | £2.05bn | £2.01bn | £3.11bn |
| Operating income | £622.8m | £514.0m | £564.8m | £532.2m | £34.4m | −£622.6m | £498.3m | £426.7m | £451.8m | £576.1m |
| Net income | £212.9m | £253.7m | £312.1m | £278.8m | £42.5m | −£906.5m | £217.9m | £176.8m | £345.1m | £421.6m |
| Diluted earnings per share | 1.26 | 1.43 | 1.70 | 1.39 | 0.21 | -4.49 | 1.25 | 0.92 | 1.87 | 2.30 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £9.57bn | £9.90bn | £9.52bn | £9.94bn | £9.57bn | £8.80bn | £7.83bn | £10.03bn | £4.89bn | £4.69bn |
| Cash and short-term investments | £233.7m | £909.0m | £696.7m | £1.16bn | £1.13bn | £1.26bn | £502.6m | £3.40bn | £90.6m | £63.0m |
| Total liabilities | £6.43bn | £6.57bn | £6.00bn | £5.83bn | £5.45bn | £4.96bn | £4.08bn | £4.38bn | £2.09bn | £2.16bn |
| Debt | £5.47bn | £5.63bn | £5.09bn | £4.95bn | £4.69bn | £4.53bn | £3.45bn | £3.29bn | £923.4m | £953.0m |
| Shareholders' equity | £3.14bn | £3.33bn | £3.52bn | £4.11bn | £4.12bn | £3.83bn | £3.75bn | £5.65bn | £2.80bn | £2.53bn |
| Shares outstanding | 169m | 177m | 183m | 200m | 203m | 202m | 175m | 193m | 184m | 183m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £754.2m | £761.7m | £877.9m | £795.7m | £510.7m | −£391.1m | £234.2m | £603.2m | £621.0m | £626.1m |
| Capital spending | −£655.7m | −£498.2m | −£508.5m | −£518.8m | −£221.5m | −£228.2m | −£393.4m | −£479.6m | −£467.0m | −£571.2m |
| Free cash flow | £98.5m | £263.5m | £369.4m | £276.9m | £289.2m | −£619.3m | −£159.2m | £123.6m | £154.0m | £54.9m |
| Dividends paid | −£168.8m | −£178.1m | −£164.7m | −£119.1m | — | — | −£159.9m | −£187.4m | −£177.6m | −£167.1m |
Latest quarters
By quarter end
| Aug 2026 | Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Aug 2023 | May 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.57bn | £1.38bn | £1.54bn | £1.35bn | £1.57bn | £1.38bn | £1.57bn | £787.9m |
| Operating income | £372.5m | £246.3m | £390.8m | £161.9m | £412.2m | £115.8m | £441.3m | £183.4m |
| Net income | £61.7m | −£4.0m | £216.9m | £33.8m | £219.9m | £18.9m | £293.2m | — |
| Diluted earnings per share | 0.37 | -0.02 | 1.23 | 0.19 | 1.20 | 0.10 | 1.46 | — |
| Cash from operations | £423.0m | £328.0m | £425.0m | £327.0m | £433.0m | £338.0m | £538.0m | — |
| Capital spending | −£270.0m | −£336.0m | −£319.0m | −£293.0m | −£185.0m | −£285.0m | −£213.0m | — |
| Free cash flow | £153.0m | −£8.0m | £106.0m | £34.0m | £248.0m | £53.0m | £325.0m | — |
| Total assets | £9.66bn | £9.57bn | £10.03bn | £9.90bn | £9.53bn | £9.52bn | £9.78bn | — |
| Cash and short-term investments | £275.4m | £233.7m | £830.6m | £909.0m | £625.0m | £696.7m | £1.06bn | — |
| Debt | £483.6m | £1.12bn | £624.2m | £5.01bn | £5.01bn | £155.6m | £153.6m | — |
| Shareholders' equity | £3.09bn | £3.14bn | £3.19bn | £3.33bn | £3.48bn | £3.52bn | £3.93bn | — |
Financial ratios
Data as of 18 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2001 | FY2000 | FY1999 | FY1998 | FY1997 | FY1996 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 21.3% | 19.0% | 21.3% | 21.3% | 20.5% | 13.4% | — | — | — | — | — | — | — |
| Net margin | 7.3% | 8.7% | 10.5% | 10.5% | 10.6% | 2.5% | — | — | — | — | — | — | — |
| Return on equity | 6.8% | 7.6% | 8.9% | 8.9% | 6.8% | 1.0% | — | — | — | — | — | — | — |
| Return on assets | 2.2% | 2.6% | 3.3% | 3.3% | 2.8% | 0.4% | — | — | — | — | — | — | — |
| Free cash flow yield | 0.3% | 0.3% | 0.3% | — | 0.3% | 0.1% | -0.0% | — | — | — | — | — | — |
| Revenue growth | -0.1% | -1.3% | 0.0% | 12.7% | 54.1% | 189.3% | — | — | — | — | — | — | — |
| Earnings growth | -16.1% | -18.7% | 0.0% | 11.9% | 556.0% | -104.7% | — | — | — | — | — | — | — |
| Current ratio | 0.44x | 0.91x | 1.02x | 1.02x | 1.57x | 1.76x | — | — | — | — | — | — | — |
| Debt to equity | 0.36x | 0.47x | 0.28x | 0.04x | 0.28x | 0.03x | — | — | — | — | — | — | — |
| Equity ratio | 32.8% | 33.7% | 37.0% | 37.0% | 41.4% | 43.1% | — | — | — | — | — | — | — |
| Interest coverage | 3.09x | 2.96x | 3.53x | 3.53x | 3.25x | 1.33x | — | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | — | 0.0% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| Buybacks as a share of market value | 4.5% | 3.4% | 8.5% | — | 1.5% | -0.6% | -15.5% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.6% | 37.7% | -0.0% |
| Operating income | 5.4% | — | 1.4% |
| Net income | -8.6% | — | -5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.5% | 19.5% | 12.0% | 16.0% |
| Net margin | 8.0% | 9.3% | 1.4% | 6.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 22.1 | 17.8 | 17.3 | 26.3 | 122.9 | -6.7 | 24.9 | 45.5 | 21.0 | 17.4 |
| Price to sales | 1.6 | 1.5 | 1.8 | 2.8 | 3.1 | 10.3 | 2.6 | 3.9 | 3.6 | 2.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 21 May 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.606 | 0.97 | 1.463 | 0.839 | 0.591 | 0.856 | 0.88 | 0.836 |
- 1.013-to-1 reverse split · 8 Jan 2007
- 1.014-to-1 reverse split · 26 Jun 2006
- 1.022-for-1 split · 16 May 2005
- 1-to-1 reverse split · 31 May 2002
- 1.015-to-1 reverse split · 10 May 2001
- 1-to-1 reverse split · 26 Feb 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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