Ashtead Technology Holdings

AT. · Main Market · Energy · mcap £428m · 532.0p

Ashtead Technology rents and sells specialist equipment and services used underwater, mainly for offshore wind and oil and gas projects. It has grown through acquisitions such as ACE Winches and Seatronics.

Financials · LTM to 30 Jun 26

Source: results 01 Sep 26 ↗

Revenue: £204m
Operating profit: £50.2m
Net income: £31.8m
Free cash flow: £11.9m
Net debt: £113m
Market cap: £431m
EV / EBIT: 10.8×
FCF yield: +2.8%
Price / book: 2.5×

Latest half-year · H1 26 vs H1 25 results 01 Sep 26 ↗

Revenue: £100m
Operating profit: £21.8m
Net income: £13.4m
Cash from operations: £20.4m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 26 (six months to 30 Jun 26), published 01 Sep 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Jun 26	FY 25	FY 24	FY 23
Revenue	204.2	203.2	168.0	110.5
Gross profit	–	–	129.4	86.3
Adjusted EBITDA	81.9	82.4	69.5	48.3
Adjusted operating profit	57.2	59.1	–	–
Operating profit	50.2	51.6	42.8	31.2
Depreciation (owned assets)	(24.7)	(23.3)	–	–
Amortisation	(5.8)	(6.0)	(3.8)	1.4
Share-based payments	0.4	1.1	1.3	2.5
Finance costs	(9.4)	(10.5)	(6.9)	(4.0)
Profit before tax	41.0	41.2	36.1	27.5
Tax	(9.2)	(9.0)	(7.3)	(5.9)
Net income (owners)	31.8	32.2	28.8	21.6
EPS basic	39.4p	40.0p	35.9p	27.0p
EPS diluted	39.0p	39.6p	35.4p	26.7p
Dividend per share	–	1.3p	1.2p	–

	H1 26	vs H1 25	H2 25	H1 25
Revenue	100.2	+1%	104.1	99.1
Adjusted EBITDA	37.9	−1%	44.0	38.4
Adjusted operating profit	25.1	−7%	32.1	27.0
Operating profit	21.8	−6%	28.4	23.2
Depreciation (owned assets)	(12.8)	+13%	(11.9)	(11.4)
Amortisation	(2.8)	−6%	(3.0)	(3.0)
Share-based payments	0.5	−58%	(0.0)	1.1
Finance costs	(4.3)	−20%	(5.1)	(5.4)
Profit before tax	17.5	−2%	23.5	17.8
Tax	(4.1)	+4%	(5.1)	(3.9)
Net income (owners)	13.4	−3%	18.3	13.9
EPS basic	16.6p	–	22.8p	17.2p
EPS diluted	16.5p	–	22.5p	17.1p

	LTM Jun 26	FY 25	FY 24	FY 23
Cash from operations	56.9	57.6	30.1	39.0
Interest paid	(8.3)	(9.4)	(6.4)	(3.1)
Tax paid	(9.0)	(6.2)	(10.0)	(6.7)
Capex (PP&E)	(42.6)	(37.2)	(29.4)	(19.5)
Lease principal paid	(2.4)	(2.2)	(1.4)	(1.2)
Dividends paid	(1.0)	(1.0)	(0.9)	(0.8)

	H1 26	vs H1 25	H2 25	H1 25
Cash from operations	20.4	−3%	36.5	21.1
Interest paid	(3.8)	−22%	(4.5)	(4.9)
Tax paid	(5.2)	+122%	(3.9)	(2.3)
Capex (PP&E)	(25.9)	+26%	(16.7)	(20.5)
Lease principal paid	(1.3)	+27%	(1.1)	(1.1)
Dividends paid	(1.0)	+8%	0.0	(1.0)

	Latest Jun 26	FY 25	FY 24	FY 23
Goodwill	112.2	111.7	112.2	77.7
Other intangibles	26.5	29.0	35.0	17.7
Property, plant & equipment	115.7	100.4	87.3	68.7
Inventories	14.3	11.6	7.8	4.1
Trade receivables	60.3	50.8	53.0	32.0
Cash	8.9	14.1	12.2	10.8
Current assets	84.5	78.0	75.2	46.9
Total assets	342.9	323.3	313.6	213.7
Trade payables	34.8	29.1	33.7	32.0
Borrowings, current	–	0.0	0.0	0.0
Lease liabilities, current	1.8	1.7	1.1	1.2
Current liabilities	–	–	36.1	35.4
Borrowings, non-current	121.4	118.5	137.7	69.7
Lease liabilities, non-current	2.4	2.8	1.7	1.7
Total liabilities	172.6	166.2	186.3	116.1
Total equity	170.3	157.1	127.3	97.6
Net cash / (debt) incl. leases	(116.7)	–	–	–
Undrawn facilities	48.0	–	30.6	–

	H1 26	H2 25	H1 25	H2 24	H2 23
Goodwill	112.2	111.7	111.8	112.2	77.7
Other intangibles	26.5	29.0	32.0	35.0	17.7
Property, plant & equipment	115.7	100.4	95.9	87.3	68.7
Inventories	14.3	11.6	13.0	7.8	4.1
Trade receivables	60.3	50.8	56.9	53.0	32.0
Cash	8.9	14.1	12.0	12.2	10.8
Current assets	84.5	78.0	82.3	75.2	46.9
Total assets	342.9	323.3	326.5	313.6	213.7
Trade payables	34.8	29.1	33.7	33.7	32.0
Borrowings, current	–	0.0	–	0.0	0.0
Lease liabilities, current	1.8	1.7	1.4	1.1	1.2
Current liabilities	–	–	–	36.1	35.4
Borrowings, non-current	121.4	118.5	139.4	137.7	69.7
Lease liabilities, non-current	2.4	2.8	3.0	1.7	1.7
Total liabilities	172.6	166.2	188.6	186.3	116.1
Total equity	170.3	157.1	137.9	127.3	97.6
Net cash / (debt) incl. leases	(116.7)	–	(131.9)	–	–
Undrawn facilities	48.0	–	–	30.6	–

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.