What stands out
- Most companies in its industry are risk businesses; this one is a flow business
At a glance
- Depends onMidstream position: 5 outgoing, 5 incoming connections
- ScaleMarket cap is $3.15B, above the global median of $1.18B
What this company is and how it runs — written from structure, not news.
What stands out
- Most companies in its industry are risk businesses; this one is a flow business
Sign in to view price data.
Sign inWhat the company actually pays, and whether its own cash supports it.
Dividends view
Yield
0.75%Below 5Y avg (1.12%)
Annual Rate
GBP 0.10Paid semi-annual
Payout Ratio
2407.3%High
Last Ex-Dividend
Sep 25, 2025
The reported statements, read against the company's own industry.
As of FY2024 (year ended December 31, 2024). Newer annual figures aren't yet on file.
Financials view
Market Capitalization
2.31BGBP3.15B · vs all stocks (USD)
Revenue (TTM)
381.95MGBP521.48M · vs all stocks (USD)
Profit Margin
0.24%vs Asset Management peers
Beta
0.9110xvs all stocks
52-Week Change
41.10%vs all stocks
Forward Annual Dividend Yield
0.75%vs all stocks
Market Capitalization
2.31BGBP3.15B · vs all stocks (USD)
Enterprise Value
2.62BGBP3.57B · vs all stocks (USD)
Forward P/E
20.13xvs Asset Management peers
Price to Sales (TTM)
6.04xvs Asset Management peers
Price to Book (MRQ)
4.45xvs Asset Management peers
Enterprise to Revenue
6.85xvs Asset Management peers
Enterprise to EBITDA
27.67xvs Asset Management peers
Profit Margin
0.24%vs Asset Management peers
Operating Margin
22.11%vs Asset Management peers
Return on Assets (TTM)
3.99%vs Asset Management peers
Return on Equity (TTM)
0.18%vs Asset Management peers
Revenue (TTM)
381.95MGBP521.48M · vs all stocks (USD)
Revenue per Share (TTM)
2.27GBPUpdated Aug 21, 2026Quarterly Revenue Growth
32.30%vs Asset Management peers
Gross Profit (TTM)
172.38MGBP235.35M · vs all stocks (USD)
EBITDA (TTM)
53.57MGBP73.14M · vs all stocks (USD)
Net Income (TTM)
933.00KGBP1.27M · vs all stocks (USD)
Operating Cash Flow (TTM)
76.08MGBP103.88M · vs all stocks (USD)
Levered Free Cash Flow (TTM)
32.02MGBP43.72M · vs all stocks (USD)
Forward Annual Dividend Rate
0.1000GBPUpdated Aug 21, 2026Forward Annual Dividend Yield
0.75%vs all stocks
Trailing Annual Dividend Rate
0.1324GBPUpdated Aug 21, 2026Trailing Annual Dividend Yield
0.99%vs all stocks
5-Year Average Dividend Yield
1.12%vs all stocks
Payout Ratio
2407.27%vs Asset Management peers
Revenue
305.38MGBPFY2024 · Dec 31, 2024Cost of Goods Sold
130.58MGBPFY2024 · Dec 31, 2024Gross Profit
174.80MGBPFY2024 · Dec 31, 2024Operating Income
25.42MGBP34.70M · vs all stocks (USD)
Pre-tax Income
-7.40MGBPFY2024 · Dec 31, 2024Income Tax Expense
-146.00KGBPFY2024 · Dec 31, 2024Net Income
-7.26MGBPFY2024 · Dec 31, 2024EBIT
17.01MGBPFY2024 · Dec 31, 2024EBITDA (Income Statement)
53.57MGBPFY2024 · Dec 31, 2024Selling, General & Administrative
35.29MGBPFY2024 · Dec 31, 2024Other Operating Expenses
18.01MGBPFY2024 · Dec 31, 2024Non-operating Interest Income
1.35MGBPFY2024 · Dec 31, 2024Non-operating Interest Expense
24.41MGBPFY2024 · Dec 31, 2024EPS (Basic)
-0.0444GBPFY2024 · Dec 31, 2024EPS (Diluted)
-0.0444GBPFY2024 · Dec 31, 2024Basic Shares Outstanding
163.31MSharesFY2024 · Dec 31, 2024Diluted Shares Outstanding
163.31MSharesFY2024 · Dec 31, 2024Net Income from Continuing Operations
18.94MGBPFY2024 · Dec 31, 2024Preferred Stock Dividends
0.00GBPFY2024 · Dec 31, 2024Operating Cash Flow
40.62MGBPFY2024 · Dec 31, 2024Free Cash Flow
36.93MGBPFY2024 · Dec 31, 2024Cash & Cash Equivalents (End of Period)
89.23MGBPFY2024 · Dec 31, 2024Starting Profit (CF Statement)
18.94MGBPFY2024 · Dec 31, 2024Stock-based Compensation
36.99MGBPFY2024 · Dec 31, 2024Change in Accounts Receivable (CF)
-15.31MGBPFY2024 · Dec 31, 2024Capital Expenditures
-3.69MGBPFY2024 · Dec 31, 2024Net Intangibles (CF)
-5.88MGBPFY2024 · Dec 31, 2024Net Acquisitions
-80.02MGBPFY2024 · Dec 31, 2024Purchase of Investments
0.00GBPFY2024 · Dec 31, 2024Other Investing Activity
-813.00KGBPFY2024 · Dec 31, 2024Net Investing Cash Flow
-84.53MGBPFY2024 · Dec 31, 2024Long-term Debt Issuance
49.19MGBPFY2024 · Dec 31, 2024Long-term Debt Payments
0.00GBPFY2024 · Dec 31, 2024Common Stock Repurchase
-1.83MGBPFY2024 · Dec 31, 2024Common Dividends Paid
-19.50MGBPFY2024 · Dec 31, 2024Net Financing Cash Flow
27.86MGBPFY2024 · Dec 31, 2024Shares Outstanding
167.60MSharesUpdated Aug 21, 2026Float Shares
129.97MSharesUpdated Aug 21, 2026% Held by Insiders
10.77%vs all stocks
% Held by Institutions
88.73%vs all stocks
Total Cash (MRQ)
149.86MGBP204.60M · vs all stocks (USD)
Total Cash per Share (MRQ)
0.8820GBPUpdated Aug 21, 2026Total Debt (MRQ)
492.30MGBP672.14M · vs all stocks (USD)
Total Debt to Equity (MRQ)
0.9637xvs Asset Management peers
Current Ratio (MRQ)
2.27xvs Asset Management peers
Book Value per Share (MRQ)
3.01GBPUpdated Aug 21, 2026Total Assets
1.02BGBP1.39B · vs all stocks (USD)
Total Current Assets
190.89MGBPFY2024 · Dec 31, 2024Total Liabilities
485.65MGBPFY2024 · Dec 31, 2024Total Non-current Assets
828.69MGBPFY2024 · Dec 31, 2024Total Non-current Liabilities
351.82MGBPFY2024 · Dec 31, 2024Total Current Liabilities
133.83MGBPFY2024 · Dec 31, 2024Cash & Cash Equivalents
64.73MGBPFY2024 · Dec 31, 2024Accounts Receivable
45.09MGBPFY2024 · Dec 31, 2024Accounts Payable
2.92MGBPFY2024 · Dec 31, 2024Short-term Debt
6.68MGBPFY2024 · Dec 31, 2024Other Current Liabilities
65.36MGBPFY2024 · Dec 31, 2024Long-term Debt
316.20MGBPFY2024 · Dec 31, 2024Other Non-current Liabilities
25.16MGBPFY2024 · Dec 31, 2024Common Stock (Book)
1.69MGBPFY2024 · Dec 31, 2024Retained Earnings
50.31MGBPFY2024 · Dec 31, 2024Total Shareholders' Equity
533.94MGBP728.99M · vs all stocks (USD)
Treasury Stock
5.76MGBPFY2024 · Dec 31, 202452-Week Low
921.00GBXUpdated Aug 21, 202652-Week High
1.39KGBXUpdated Aug 21, 202652-Week Change
41.10%vs all stocks
Beta
0.9110xvs all stocks
50-Day MA
1.33KGBXUpdated Aug 21, 2026200-Day MA
1.31KGBXUpdated Aug 21, 2026Avg 10-Day Volume
2.07MSharesUpdated Aug 21, 2026Avg 30-Day Volume
1.00MSharesUpdated Aug 21, 2026Diluted EPS (TTM)
0.0100GBPUpdated Aug 21, 2026Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Structural Tensions
Most companies in its industry are risk businesses; this one is a flow businessSignificant
Industry peers: 216Share on the common pattern %: 88.00
Supply Chain
Midstream position: 5 outgoing, 5 incoming connectionsNotable
Outgoing: 5.00Incoming: 5.00
High connectivity hub: 10 industry connectionsNotable
Total Connections: 10.00
Scale
Market cap is $3.15B, above the global median of $1.18BNotable
Market cap (USD): 3,149,953,135.138Global Median: 1,179,398,897.704
Levered free cash flow is $43.72M, above the global median of $19.23MNotable
Levered free cash flow (USD): 43,722,004.785Global Median: 19,234,564.734
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