£688.00 ($9.09)

-2.00 (-0.29%)

Weekly Expected Move ±0.8%

£680 £685 £690 £695 £700

LSE · Financial Services · Financial - Capital Markets · Tech Score Neutral · Power 60 · £4.5B mcap · 532M float · 0.0002% daily turnover

Revenue

$1.0B -78.7% ▼

5Y CAGR: -10.6%

Gross Profit

$1.0B -48.9% ▼

5Y CAGR: +3.3%

Operating Income

$1.0B +29.0% ▲

5Y CAGR: +20.7%

Net Income

$332M -64.7% ▼

5Y CAGR: -12.5%

EPS (Diluted)

$0.39 -61.4% ▼

5Y CAGR: -19.3%

EBITDA

$896M +2.7% ▲

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$2.7B	$2.9B	$3.8B	$4.8B	$1.0B
YoY Growth	+54.1%	+6.3%	+30.3%	+25.6%	-78.7%
Cost of Revenue	$1.1B	$1.0B	$2.1B	$2.8B	$0
Gross Profit	$1.6B	$1.9B	$2.3B	$2.0B	$1.0B
Gross Margin	58.3%	65.5%	59.2%	41.7%	100.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$49M	$54M	$44M	$47M	$41M
Operating Expenses	$1.3B	$1.2B	$1.3B	$47M	$1.3B
Operating Income	$364M	$615M	$705M	$788M	$1.0B
Operating Margin	13.3%	21.1%	18.5%	16.5%	100.0%
Interest Expense	$1.1B	$1.0B	$2.1B	$2.8B	$2.8B
Income Before Tax	$332M	$697M	$894M	$822M	$406M
Tax Expense	$73M	$141M	$148M	$171M	$74M
Net Income	$268M	$477M	$765M	$941M	$332M
Net Margin	9.8%	16.3%	20.1%	19.7%	32.6%
EPS (Diluted)	$0.25	$0.50	$0.83	$1.01	$0.39
EBITDA	$364M	$640M	$763M	$873M	$896M
Shares Outstanding	984M	984M	984M	884M	844M

Line Item	FY2022 Q2	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4
Revenue	$1.9B	$476M	$526M	$515M	$499M	$2.4B	$2.3B	$2.4B
Cost of Revenue	-$1.5B	$0	$4.7B	-$1.9B	$2.5B	$0	$0	$1.2B
Gross Profit	$3.3B	$2.5B	$526M	$2.4B	$499M	$518M	$0	$1.2B
Gross Margin	177.8%	533.4%	100.0%	473.3%	100.0%	21.3%	0.0%	49.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$9M	$35M	$11M	$36M	$11M	$0	$0	$43M
Operating Expenses	$710M	$717M	$11M	$36M	$11M	$0	$0	$699M
Operating Income	$407M	$169M	$515M	$792M	$613M	$589M	$417M	$456M
Operating Margin	21.7%	35.5%	97.8%	153.9%	122.8%	24.2%	17.9%	18.8%
Interest Expense	$0	$0	$0	$0	$0	$0	$0	$1.3B
Income Before Tax	$550M	$401M	$401M	$366M	$34M	-$9M	$446M	$499M
Tax Expense	$71M	$92M	$89M	$82M	$98M	$72M	$89M	$88M
Net Income	$478M	$306M	$593M	$152M	$313M	$310M	$324M	$368M
Net Margin	25.5%	64.3%	112.8%	29.4%	62.7%	12.7%	13.9%	15.1%
EPS (Diluted)	$0.49	$0.36	$0.70	$0.36	$0.37	$0.37	$0.38	$0.39
EBITDA	$560M	$408M	$402M	$372M	$428M	$404M	$417M	$529M
Shares Outstanding	984M	852M	852M	844M	844M	844M	853M	853M

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