| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 10.1 | (11.4) | 78.5 | 41.2 | 227.5 | 116.2 | −48.9% | |
| Depreciation & amortization | 684.5 | 739.7 | 730.5 | 593.1 | 622.9 | 565.1 | −9.3% | |
| Stock-based compensation | 11.9 | 5.4 | 6.4 | 15.6 | 10.5 | 0.0 | −100.0% | |
| Change in working capital | 212.3 | (163.1) | (101.9) | (110.3) | 46.8 | (21.5) | −145.9% | |
| Operating cash flow | 1,206.4 | 66.8 | 580.2 | 543.3 | 754.2 | 620.5 | −17.7% | |
| Capital expenditure | (420.6) | (251.6) | (177.9) | (216.9) | (156.4) | (241.8) | −54.6% | |
| Acquisitions | 117.6 | 2,331.8 | 119.2 | 51.7 | (86.5) | 12.4 | +114.3% | |
| Investing cash flow | (303.0) | 2,080.2 | 73.0 | (10.2) | (150.9) | (191.1) | −26.6% | |
| Dividends paid | 0.0 | 0.0 | (14.7) | (29.5) | (34.2) | (38.9) | −13.7% | |
| Share buybacks | (4.7) | (506.0) | (46.9) | (134.1) | (91.8) | (50.4) | +45.1% | |
| Debt issued / repaid | 64.1 | (1,761.3) | (26.3) | (107.9) | (26.2) | 13.9 | +153.1% | |
| Financing cash flow | (326.9) | (2,890.0) | (640.9) | (776.3) | (641.5) | (453.5) | +29.3% | |
| Free cash flow | 785.8 | (184.8) | 402.3 | 324.0 | 597.8 | 378.7 | −36.7% | |
| Net change in cash | 470.0 | (651.2) | 3.7 | (239.8) | (38.0) | (55.1) | −45.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
