Also trades as: SFSHF (OTC) · $vol 0M

£506.00 ($6.70)

+2.00 (+0.40%)

Weekly Expected Move ±2.8%

£477 £492 £506 £520 £535

LSE · Real Estate · REIT - Industrial · Tech Score Strong Sell · Power 26 · £1.1B mcap · 215M float · 0.322% daily turnover

Revenue

$234M +4.8% ▲

5Y CAGR: +7.6%

Gross Profit

$153M +2.1% ▲

5Y CAGR: +7.6%

Operating Income

$134M -68.6% ▼

5Y CAGR: +9.2%

Net Income

$111M -70.2% ▼

5Y CAGR: -9.0%

EPS (Diluted)

$0.51 -70.0% ▼

5Y CAGR: -9.5%

EBITDA

$161M -62.1% ▼

5Y CAGR: +13.1%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$187M	$212M	$224M	$224M	$234M
YoY Growth	+15.1%	+13.8%	+5.5%	-0.3%	+4.8%
Cost of Revenue	$57M	$63M	$70M	$74M	$81M
Gross Profit	$130M	$150M	$154M	$150M	$153M
Gross Margin	69.5%	70.4%	68.8%	67.0%	65.3%
R&D Expenses	$2	$2	$0	$0	$0
SG&A Expenses	$32M	$27M	$18M	$16M	$19M
Operating Expenses	$29M	$26M	-$76M	-$276M	$19M
Operating Income	$101M	$124M	$230M	$426M	$134M
Operating Margin	54.2%	58.1%	102.8%	190.5%	57.1%
Interest Expense	$15M	$17M	$22M	$26M	$33M
Income Before Tax	$405M	$499M	$208M	$399M	$127M
Tax Expense	$23M	$36M	$8M	$26M	$16M
Net Income	$382M	$463M	$200M	$372M	$111M
Net Margin	204.5%	217.8%	89.3%	166.6%	47.4%
EPS (Diluted)	$1.76	$2.12	$0.92	$1.70	$0.51
EBITDA	$102M	$124M	$230M	$426M	$161M
Shares Outstanding	217M	218M	218M	219M	220M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$112M	$110M	$114M	$109M	$114M	$113M	$122M	$121M
Cost of Revenue	$34M	$34M	$35M	$36M	$38M	$39M	$42M	$44M
Gross Profit	$78M	$76M	$79M	$74M	$76M	$74M	$80M	$76M
Gross Margin	69.6%	68.7%	69.0%	67.3%	66.7%	65.5%	65.7%	63.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$14M	$8M	$10M	$9M	$7M	$10M	$8M	$0
Operating Expenses	$144M	$38M	$37M	-$113M	$7M	-$39M	$10M	$13M
Operating Income	$64M	$66M	$69M	$186M	$69M	$113M	$70M	$64M
Operating Margin	57.6%	60.1%	60.6%	170.6%	60.4%	100.2%	57.8%	52.7%
Interest Expense	$9M	$11M	$12M	$13M	$13M	$0	$16M	$17M
Income Before Tax	$214M	$103M	$104M	$174M	$225M	$97M	$30M	$36M
Tax Expense	$21M	$11M	-$3M	$17M	$9M	$18M	-$2M	$3M
Net Income	$193M	$93M	$107M	$157M	$216M	$79M	$32M	$33M
Net Margin	173.0%	84.3%	94.1%	143.6%	188.7%	70.4%	26.2%	27.7%
EPS (Diluted)	$0.88	$0.43	$0.49	$0.72	$0.99	$0.36	$0.14	$0.15
EBITDA	$65M	$67M	$70M	$65M	$70M	$64M	$71M	$55M
Shares Outstanding	219M	217M	219M	219M	219M	220M	220M	220M

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