Average of forecasts submitted by our covering analysts:
| FY23e | FY24e | FY25e | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Low | Average | High | Low | Average | High | Low | Average | High | |||||
| Revenue (£m) | 1,471.4 | 1,519.3 | 1,547.2 | 1,767.3 | 1,790.1 | 1,839.3 | 1,856.2 | 1,901.6 | 2,002.4 | ||||
| Operating Profit (£m) | 168.8 | 170.6 | 172.0 | 198.4 | 204.7 | 209.9 | 216.0 | 222.8 | 234.1 | ||||
| EPS (Underlying) (PPS) | 24.0 | 24.9 | 25.6 | 25.7 | 27.5 | 28.4 | 29.0 | 30.0 | 31.3 | ||||
| DPS (PPS) | 7.5 | 7.7 | 8.2 | 8.0 | 8.2 | 8.7 | 8.5 | 8.6 | 9.0 | ||||
| Capex (£m) | -142.4 | -118.5 | -107.0 | -141.7 | -107.8 | -90.0 | -136.2 | -95.2 | -70.0 | ||||
| Net Cash / (debt) (£m)* | -298.9 | -236.0 | -192.4 | -264.6 | -173.1 | -112.3 | -195.5 | -82.4 | -3.7 | ||||
Consensus updated on 21st March 2023 - excluding Stifel, who have not taken recent acquisitions (Avantus Federal, Air Affairs) into account.
* Net debt figure is excluding Non-Cash and Net financial Liabilities (which includes lease liability)
Disclaimer
The consensus above is an average of forecasts that have been provided to QinetiQ by a number of research analysts who cover our company. It should be noted that these forecasts are by definition forward looking and are therefore subject to risks and uncertainties that may materially affect eventual results. QinetiQ is not regulated by the Financial Conduct Authority and cannot offer investment advice. Nothing in this analysis should be taken as a recommendation to buy or sell shares in QinetiQ or to take any other action or place any reliance on the analysis.
Neither QinetiQ nor any subsidiary undertaking or any director, officer or employee of QinetiQ accepts any responsibility for the accuracy of the forecasts used in this analysis and therefore the foregoing shall have no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this analysis.
QinetiQ will endeavour to update this information but assumes no obligation to do so.
Analyst coverage
| Company | Analyst | Phone |
|---|---|---|
| Agency Partners | Sash Tusa | +44 20 7186 7201 |
| Barclays | Charlotte Keyworth | +44 20 3134 0496 |
| BofA | Benjamin Heelan | +44 20 7996 5723 |
| Berenberg | George McWhirter | +44 20 3465 2692 |
| Citigroup | Sam Burgess | +44 20 7508 4816 |
| Jefferies | David Farrell | +44 20 7029 8407 |
| JP Morgan | David Perry | +44 20 7742 5606 |
| Kepler Cheuvreux | Aymeric Poulain | +41 43 333 6624 |
| Numis | Richard Paige | +44 20 7260 1246 |
| Stifel | Annabel Hewson | +44 20 7710 7657 |