| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 310.0 | 160.0 | 242.0 | 378.0 | 510.0 | 457.0 | −10.4% | |
| Depreciation & amortization | 317.0 | 408.0 | 572.0 | 523.0 | 513.0 | 571.0 | +11.3% | |
| Stock-based compensation | 29.0 | 28.0 | 38.0 | 40.0 | 44.0 | 39.0 | −11.4% | |
| Change in working capital | 8.0 | (12.0) | 49.0 | (96.0) | (53.0) | (83.0) | −56.6% | |
| Operating cash flow | 389.0 | 326.0 | 361.0 | 525.0 | 627.0 | 690.0 | +10.0% | |
| Capital expenditure | (134.0) | (176.0) | (57.0) | (126.0) | (124.0) | (29.0) | +76.6% | |
| Acquisitions | 625.0 | 18.0 | (228.0) | (214.0) | (40.0) | (156.0) | −290.0% | |
| Investing cash flow | 591.0 | (80.0) | 13.0 | (301.0) | (131.0) | (277.0) | −111.5% | |
| Dividends paid | (146.0) | (149.0) | (156.0) | (154.0) | (156.0) | (160.0) | −2.6% | |
| Share buybacks | (182.0) | (16.0) | (390.0) | (221.0) | (358.0) | (424.0) | −18.4% | |
| Debt issued / repaid | 24.0 | (167.0) | (264.0) | (84.0) | 344.0 | 43.0 | −87.5% | |
| Financing cash flow | (299.0) | (414.0) | (804.0) | (450.0) | (241.0) | (609.0) | −152.7% | |
| Free cash flow | 255.0 | 150.0 | 304.0 | 399.0 | 503.0 | 661.0 | +31.4% | |
| Net change in cash | 679.0 | (176.0) | (394.0) | (234.0) | 234.0 | (111.0) | −147.4% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
