| GBP | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 25.61B | 25.87B | 27.28B | 27.66B |
| YoY Growth | -1.0% | -5.2% | -1.3% | — |
| Gross Profit | 21.38B | 21.43B | 22.64B | 23.10B |
| Gross Margin | 83.5% | 82.9% | 83.0% | 83.5% |
| R&D | 133.00M | 174.00M | 181.00M | 138.00M |
| SG&A | 1.12B | 1.14B | 1.18B | 1.19B |
| EBIT | 11.66B | 10.63B | (8.53B) | 14.28B |
| EBIT Margin | 45.5% | 41.1% | -31.3% | 51.6% |
| D&A | 2.27B | 3.06B | 24.00B | 1.30B |
| EBITDA | 14.06B | 8.42B | 8.83B | 12.29B |
| EBITDA Margin | 54.9% | 32.6% | 32.3% | 44.4% |
| Net Income | 7.76B | 3.07B | (14.37B) | 6.67B |
| Net Margin | 30.3% | 11.9% | -52.7% | 24.1% |
| EPS (diluted) | £3.49 | £1.36 | -£6.47 | £2.92 |
| Shares (dil., M) | 2199 | 2225 | 2229 | 2267 |
| Gross Margin | 83.5% |
|---|---|
| EBITDA Margin | 54.9% |
| EBIT Margin | 45.5% |
| Net Margin | 30.3% |
| FCF Margin | 22.0% |
| ROIC | 11.1% |
|---|---|
| ROCE | 12.3% |
| ROE | 16.2% |
| ROA | 7.1% |
| Asset Turnover | 0.23× |
| FCF / Net Income | 72.6% |
|---|---|
| SBC / Net Income | — |
| SBC / Revenue | — |
| Capex / D&A | 0.31× |
| Metric | 3yr |
|---|---|
| Revenue | -2.5% |
| EPS | 6.1% |
| FCF | -16.7% |
| Dividend | — |
| Float | 91.5% |
|---|---|
| Shares Out. | 2.16B |
| Insiders % | — |
| Institutions % | — |
| Institutions (of float) | — |
| Institution holders | — |
| Insider net buy 6M | — |
| Cash & ST Invest. | £3.5B |
|---|---|
| Total Debt | £35.1B |
| Net Cash / (Debt) | -£31.6B |
| Total Assets | £109.3B |
| Total Equity | £47.9B |
| Goodwill & Intang. | £86.9B |
| Tangible Book Value | -£39.0B |
| NCAV (Graham) | -£48.7B |
| Tangible Book/sh | -£18.03 |
| NCAV/sh | -£22.50 |
| D/E Ratio | 0.73× |
|---|---|
| Net Debt / EBITDA | 2.25× |
| Interest Coverage | 6.05× |
| Current Ratio | 0.87× |
| Quick Ratio | 0.57× |
| Capex | £704.0M |
|---|---|
| Capex / Revenue | 2.7% |
| SBC | — |
| Dividends Paid | £5.2B |
| Buybacks | £1.2B |
| Annual DPS | £2.45 |
|---|---|
| Yield (fwd) | 5.66% |
| Payout Ratio | 68.8% |
| Ex-div Date | 2026-07-09 |
| P/E vs 4Y | 12.4×vs 1207.1× median |
|---|---|
| Div yield vs 10Y | 566.0%vs 0.1% median |
| Gross Margin | 83.5% |
|---|---|
| EBITDA Margin | 54.9% |
| EBIT Margin | 45.5% |
| Net Margin | 30.3% |
| FCF Margin | 22.0% |
| ROIC | 11.1% |
|---|---|
| ROCE | 12.3% |
| ROE | 16.2% |
| ROA | 7.1% |
| Asset Turnover | 0.23× |
| FCF / Net Income | 72.6% |
|---|---|
| SBC / Net Income | — |
| SBC / Revenue | — |
| Capex / D&A | 0.31× |
| Metric | 3yr |
|---|---|
| Revenue | -2.5% |
| EPS | 6.1% |
| FCF | -16.7% |
| Dividend | — |
| Float | 91.5% |
|---|---|
| Shares Out. | 2.16B |
| Insiders % | — |
| Institutions % | — |
| Institutions (of float) | — |
| Institution holders | — |
| Insider net buy 6M | — |
| GBP | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 25.61B | 25.87B | 27.28B | 27.66B |
| YoY Growth | -1.0% | -5.2% | -1.3% | — |
| Gross Profit | 21.38B | 21.43B | 22.64B | 23.10B |
| Gross Margin | 83.5% | 82.9% | 83.0% | 83.5% |
| R&D | 133.00M | 174.00M | 181.00M | 138.00M |
| SG&A | 1.12B | 1.14B | 1.18B | 1.19B |
| EBIT | 11.66B | 10.63B | (8.53B) | 14.28B |
| EBIT Margin | 45.5% | 41.1% | -31.3% | 51.6% |
| D&A | 2.27B | 3.06B | 24.00B | 1.30B |
| EBITDA | 14.06B | 8.42B | 8.83B | 12.29B |
| EBITDA Margin | 54.9% | 32.6% | 32.3% | 44.4% |
| Net Income | 7.76B | 3.07B | (14.37B) | 6.67B |
| Net Margin | 30.3% | 11.9% | -52.7% | 24.1% |
| EPS (diluted) | £3.49 | £1.36 | -£6.47 | £2.92 |
| Shares (dil., M) | 2199 | 2225 | 2229 | 2267 |
| Cash & ST Invest. | £3.5B |
|---|---|
| Total Debt | £35.1B |
| Net Cash / (Debt) | -£31.6B |
| Total Assets | £109.3B |
| Total Equity | £47.9B |
| Goodwill & Intang. | £86.9B |
| Tangible Book Value | -£39.0B |
| NCAV (Graham) | -£48.7B |
| Tangible Book/sh | -£18.03 |
| NCAV/sh | -£22.50 |
| D/E Ratio | 0.73× |
|---|---|
| Net Debt / EBITDA | 2.25× |
| Interest Coverage | 6.05× |
| Current Ratio | 0.87× |
| Quick Ratio | 0.57× |
| Capex | £704.0M |
|---|---|
| Capex / Revenue | 2.7% |
| SBC | — |
| Dividends Paid | £5.2B |
| Buybacks | £1.2B |
| Annual DPS | £2.45 |
|---|---|
| Yield (fwd) | 5.66% |
| Payout Ratio | 68.8% |
| Ex-div Date | 2026-07-09 |
| P/E vs 4Y | 12.4×vs 1207.1× median |
|---|---|
| Div yield vs 10Y | 566.0%vs 0.1% median |