What stands out
- Returns appear driven by leverage
- Pays more per share than it earned over the last twelve months
At a glance
- Depends onMidstream position: 5 outgoing, 5 incoming connections
- ScaleRevenue is $16.14B, higher than 95% of all stocks globally
- PositionReturn on equity is 27%, higher than 95% of its Asset Management peers (median 12.4%)
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Sign inWhat the company actually pays, and whether its own cash supports it.
What stands out
- Pays more per share than it earned over the last twelve months
Dividends view
Yield
11.02%Above 5Y avg (8.04%)
Annual Rate
GBP 0.31Paid semi-annual
Payout Ratio
190.0%High
Payback Period
13.5 yr
Last Ex-Dividend
Aug 20, 2026
The reported statements, read against the company's own industry.
What stands out
- Returns appear driven by leverage
Financials view
Market Capitalization
15.49BGBP21.15B · vs all stocks (USD)
Trailing P/E
27.09xvs Asset Management peers
Revenue (TTM)
11.83BGBP16.14B · vs all stocks (USD)
Profit Margin
18.03%vs Asset Management peers
Beta
0.7960xvs all stocks
52-Week Change
10.72%vs all stocks
Forward Annual Dividend Yield
11.02%vs all stocks
Market Capitalization
15.49BGBP21.15B · vs all stocks (USD)
Enterprise Value
28.86BGBP39.40B · vs all stocks (USD)
Trailing P/E
27.09xvs Asset Management peers
Forward P/E
11.73xvs Asset Management peers
Price to Sales (TTM)
1.37xvs Asset Management peers
Price to Book (MRQ)
7.72xvs Asset Management peers
Enterprise to Revenue
2.44xvs Asset Management peers
Enterprise to EBITDA
22.74xvs Asset Management peers
Profit Margin
18.03%vs Asset Management peers
Operating Margin
13.35%vs Asset Management peers
Return on Assets (TTM)
0.13%vs Asset Management peers
Return on Equity (TTM)
27.01%vs Asset Management peers
Revenue (TTM)
11.83BGBP16.14B · vs all stocks (USD)
Revenue per Share (TTM)
2.11GBPUpdated Aug 21, 2026Quarterly Revenue Growth
15.30%vs Asset Management peers
Gross Profit (TTM)
3.06BGBP4.18B · vs all stocks (USD)
EBITDA (TTM)
1.27BGBP1.73B · vs all stocks (USD)
Net Income (TTM)
663.00MGBP905.20M · vs all stocks (USD)
Quarterly Earnings Growth (YoY)
487.30%vs Asset Management peers
Operating Cash Flow (TTM)
2.22BGBP3.04B · vs all stocks (USD)
Levered Free Cash Flow (TTM)
7.69BGBP10.50B · vs all stocks (USD)
Forward Annual Dividend Rate
0.3134GBPUpdated Aug 21, 2026Forward Annual Dividend Yield
11.02%vs all stocks
Trailing Annual Dividend Rate
0.2179GBPUpdated Aug 21, 2026Trailing Annual Dividend Yield
7.66%vs all stocks
5-Year Average Dividend Yield
8.04%vs all stocks
Payout Ratio
189.97%vs Asset Management peers
Minority Interest (Equity)
29.00MGBPFY2025 · Dec 31, 2025Revenue
42.04BGBPFY2025 · Dec 31, 2025Pre-tax Income
690.00MGBPFY2025 · Dec 31, 2025Income Tax Expense
170.00MGBPFY2025 · Dec 31, 2025Net Income
616.00MGBPFY2025 · Dec 31, 2025EBIT
972.00MGBPFY2025 · Dec 31, 2025Other Operating Expenses
2.30BGBPFY2025 · Dec 31, 2025Non-operating Interest Expense
282.00MGBPFY2025 · Dec 31, 2025EPS (Basic)
0.0999GBPFY2025 · Dec 31, 2025EPS (Diluted)
0.0974GBPFY2025 · Dec 31, 2025Basic Shares Outstanding
5.71BSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
5.71BSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
616.00MGBPFY2025 · Dec 31, 2025Minority Interests (P&L)
-24.00MGBPFY2025 · Dec 31, 2025Preferred Stock Dividends
21.00MGBPFY2025 · Dec 31, 2025Operating Cash Flow
-3.90BGBPFY2025 · Dec 31, 2025Free Cash Flow
-3.95BGBPFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
17.10BGBPFY2025 · Dec 31, 2025Starting Profit (CF Statement)
616.00MGBPFY2025 · Dec 31, 2025Other Non-cash Items
578.00MGBPFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-5.09BGBPFY2025 · Dec 31, 2025Capital Expenditures
-51.00MGBPFY2025 · Dec 31, 2025Net Acquisitions
221.00MGBPFY2025 · Dec 31, 2025Net Investing Cash Flow
170.00MGBPFY2025 · Dec 31, 2025Long-term Debt Issuance
1.82BGBPFY2025 · Dec 31, 2025Long-term Debt Payments
-2.93BGBPFY2025 · Dec 31, 2025Common Stock Repurchase
-503.00MGBPFY2025 · Dec 31, 2025Common Dividends Paid
-1.25BGBPFY2025 · Dec 31, 2025Other Financing Charges
-4.00MGBPFY2025 · Dec 31, 2025Net Financing Cash Flow
-2.87BGBPFY2025 · Dec 31, 2025Shares Outstanding
5.63BSharesUpdated Aug 21, 2026Float Shares
5.33BSharesUpdated Aug 21, 2026% Held by Insiders
1.97%vs all stocks
% Held by Institutions
42.17%vs all stocks
Total Cash (MRQ)
14.52BGBP19.82B · vs all stocks (USD)
Total Cash per Share (MRQ)
2.60GBPUpdated Aug 21, 2026Total Debt (MRQ)
26.56BGBP36.27B · vs all stocks (USD)
Total Debt to Equity (MRQ)
9.93xvs Asset Management peers
Current Ratio (MRQ)
0.9540xvs Asset Management peers
Book Value per Share (MRQ)
0.3860GBPUpdated Aug 21, 2026Total Assets
582.27BGBP794.98B · vs all stocks (USD)
Total Liabilities
579.96BGBPFY2025 · Dec 31, 2025Cash & Cash Equivalents
17.10BGBPFY2025 · Dec 31, 2025Other Short-term Investments
1.86BGBPFY2025 · Dec 31, 2025Inventory
395.00MGBPFY2025 · Dec 31, 2025Short-term Debt
278.00MGBPFY2025 · Dec 31, 2025Long-term Debt
4.62BGBPFY2025 · Dec 31, 2025Common Stock (Book)
142.00MGBPFY2025 · Dec 31, 2025Retained Earnings
517.00MGBPFY2025 · Dec 31, 2025Total Shareholders' Equity
2.31BGBP3.16B · vs all stocks (USD)
Treasury Stock
163.00MGBPFY2025 · Dec 31, 202552-Week Low
217.20GBXUpdated Aug 21, 202652-Week High
318.10GBXUpdated Aug 21, 202652-Week Change
10.72%vs all stocks
Beta
0.7960xvs all stocks
50-Day MA
293.87GBXUpdated Aug 21, 2026200-Day MA
266.48GBXUpdated Aug 21, 2026Avg 10-Day Volume
22.38MSharesUpdated Aug 21, 2026Avg 30-Day Volume
17.32MSharesUpdated Aug 21, 2026Diluted EPS (TTM)
0.1100GBPUpdated Aug 21, 2026Other Income / Expense
986.00MGBPFY2025 · Dec 31, 2025Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Return on equity is 27%, higher than 95% of its Asset Management peers (median 12.4%)Significant
Return on equity: 0.27Industry median: 0.12Industry P95: 0.27Peers compared: 27.00
Debt-to-equity is 9.93×, higher than 95% of its Asset Management peers (median 0.67×)Significant
Debt-to-equity: 9.93Industry median: 0.67Industry P95: 3.22Peers compared: 27.00
Structural Tensions
Returns appear driven by leverageSignificant
Return on Equity: 0.27Debt-to-Equity: 9.93
Pays more per share than it earned over the last twelve monthsSignificant
Payout Ratio: 1.90Dividend per Share: 0.22Earnings per Share: 0.11
Significant cash reserves alongside high leverageNotable
Cash (USD): 19,820,205,532.14Total Debt (USD): 36,268,094,490.481Debt-to-Equity: 9.93
Financial Health
Low earnings qualitySignificant
Earnings Quality Score: -1.78
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
Revenue is $16.14B, higher than 95% of all stocks globallySignificant
Revenue (USD): 16,144,791,361.659Global P95: 15,102,391,082.578
Levered free cash flow is $10.5B, higher than 95% of all stocks globallySignificant
Levered free cash flow (USD): 10,495,138,057.38Global P95: 1,235,239,084.501
Market cap is $21.15B, above the global median of $1.18BNotable
Market cap (USD): 21,152,398,255.208Global Median: 1,179,398,897.704
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