Costain Group

COST · Main Market · Construction and Materials · mcap £630m · 243.0p

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Financials · balance sheet 30 Jun 26 · last twelve months · today’s market value

Source: results 13 Aug 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £637.5m
Owner’s net cash: £164.4m
Net cash / market cap: 26%
EV ex leases: £473.1m
Revenue: £1,063m
Operating profit: £45.7m
Free cash flow after leases: £60.7m
EV / EBIT: 10.4×
FCF yield: 9.5%
Price / tangible book: 3.08×
ROCE: 16%
Net income (owners): £38.0m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: H1 26 (six months to 30 Jun 26), published 13 Aug 26 · read the results ↗

Source ↗

	26 unaudited £m	25 unaudited £m
Revenue	543.1	525.4
Cost of sales	(489.5)	(473.5)
Gross profit	53.6	51.9
Administrative expenses	(36.3)	(35.5)
Operating profit	17.3	16.4
Profit from operations	17.3	16.4
Finance income	4.0	4.1
Finance expense	(2.1)	(2.3)
Net finance income	1.9	1.8
Profit before tax	19.2	18.2
Taxation	(4.3)	(4.0)
Profit for the period attributable to equity holders of the parent	14.9	14.2
Earnings per share
Basic	5.7p	5.4p
Diluted	5.6p	5.3p

Source ↗

	30 June 2026 unaudited £m	31 December 2025 audited £m
Assets
Non-current assets
Intangible assets	50.7	51.1
Property, plant and equipment	40.8	34.5
Retirement benefit asset	62.9	60.0
Trade and other receivables	2.4	2.3
Deferred tax	-	2.9
Total non-current assets	156.8	150.8
Current assets
Trade and other receivables	217.6	191.5
Insurance recovery asset	5.0	4.3
Income tax	1.0	-
Cash and cash equivalents - with restrictions	38.3	26.0
Cash and cash equivalents	164.4	189.3
Total current assets	426.3	411.1
Total assets	583.1	561.9
Liabilities
Non-current liabilities
Other payables	1.0	1.1
Lease liabilities	20.1	16.5
Total non-current liabilities	21.1	17.6
Current liabilities
Trade and other payables	281.5	267.4
Income tax	-	0.3
Lease liabilities	12.4	8.5
Provisions for other liabilities and charges	9.6	9.9
Deferred tax	0.8	-
Total current liabilities	304.3	286.1
Total liabilities	325.4	303.7
Net assets	257.7	258.2
Equity
Share capital	2.6	2.7
Share premium	17.2	17.1
Translation reserve	(0.4)	(0.4)
Treasury shares	(1.7)	(1.1)
Capital redemption reserve	136.6	136.5
Retained earnings	103.4	103.4
Total equity	257.7	258.2

Source ↗

	26 unaudited £m	25 unaudited £m
Cash flows generated from/(used by) operating activities
Profit for the period	14.9	14.2
Adjustments for
Finance income	(4.0)	(4.1)
Finance expense	2.1	2.3
Taxation	4.3	4.0
Loss on disposals of property, plant and equipment	-	0.1
Depreciation of property, plant and equipment	7.0	5.3
Amortisation of intangible assets	0.5	0.6
Pension scheme administration costs	0.9	-
Share-based payments expense	2.0	1.8
Cash generated from operations before changes in working capital and provisions	27.7	24.2
Increase in trade and other receivables	(26.9)	(17.9)
Increase/(decrease) in trade and other payables	13.6	(16.8)
Decrease in provisions	(0.3)	(2.5)
Cash generated from/(used by) operations	14.1	(13.0)
Interest received	2.4	3.6
Interest paid	(2.1)	(3.1)
Taxation paid	(3.0)	-
Net cash generated from/(used by) operating activities	11.4	(12.5)
Cash flows generated from/(used by) investing activities
Additions to owned property, plant and equipment and leasehold improvements	(0.1)	(0.1)
Additions to intangible assets	(0.1)	-
Net cash used by investing activities	(0.2)	(0.1)
Cash flows generated from/(used by) financing activities
Ordinary dividends paid	(8.2)	(4.9)
Share buyback	(7.2)	-
Acquisition of treasury shares	(2.7)	(1.0)
Repayments of lease liabilities - principal	(5.7)	(4.8)
Net cash used by financing activities	(23.8)	(10.7)
Net increase/(decrease) in cash and cash equivalents - with restrictions	12.3	(9.7)
Net increase/(decrease) in cash and cash equivalents	(24.9)	(13.6)
Net increase/(decrease) in cash and cash equivalents (including cash with restrictions)	(12.6)	(23.3)
Cash and cash equivalents at beginning of the period (including cash with restrictions)	215.3	196.9
Cash and cash equivalents at end of the period (including cash with restrictions)	202.7	173.6
Cash and cash equivalents at beginning of the period (excluding cash with restrictions)	189.3	158.5
Net increase/(decrease) in cash and cash equivalents	(24.9)	(13.6)
Cash and cash equivalents at end of the period (excluding cash with restrictions)	164.4	144.9

Source ↗

	2025 £m	2024 £m
Revenue	1,045.7	1,251.1
Cost of sales	(931.9)	(1,147.8)
Gross profit	113.8	103.3
Administrative expenses	(69.0)	(72.2)
Operating profit	44.8	31.1
Share of results of joint ventures and associates	(0.4)	-
Profit from operations	44.4	31.1
Finance income	8.0	9.3
Finance expense	(4.2)	(3.9)
Net finance income	3.8	5.4
Profit before tax	48.2	36.5
Taxation	(10.9)	(5.9)
Profit for the year attributable to equity holders of the parent	37.3	30.6
Earnings per share
Basic	13.9p	11.3p
Diluted	13.7p	11.1p

Source ↗

	2025 £m	2024 £m
Assets
Non-current assets
Intangible assets	51.1	51.2
Property, plant and equipment	34.5	35.3
Equity accounted investments	-	0.4
Retirement benefit asset	60.0	54.9
Trade and other receivables	2.3	4.3
Deferred tax	2.9	8.6
Total non-current assets	150.8	154.7
Current assets
Trade and other receivables	191.5	185.3
Insurance recovery asset	4.3	8.8
Income tax	-	1.5
Cash and cash equivalents - with restrictions	26.0	38.4
Cash and cash equivalents	189.3	158.5
Total current assets	411.1	392.5
Total assets	561.9	547.2
Liabilities
Non-current liabilities
Other payables	1.1	1.8
Lease liabilities	16.5	12.8
Total non-current liabilities	17.6	14.6
Current liabilities
Trade and other payables	267.4	271.0
Income tax	0.3	-
Lease liabilities	8.5	13.0
Provisions for other liabilities and charges	9.9	12.9
Total current liabilities	286.1	296.9
Total liabilities	303.7	311.5
Net assets	258.2	235.7
Equity
Share capital	2.7	2.7
Share premium	17.1	16.5
Translation reserve	(0.4)	0.6
Treasury shares	(1.1)	(0.7)
Capital redemption reserve	136.5	136.5
Retained earnings	103.4	80.1
Total equity	258.2	235.7

Source ↗

	2025 £m	2024 £m
Cash flows generated from/(used by) operating activities
Profit for the year	37.3	30.6
Adjustments for
Share of results of joint ventures and associates	0.4	-
Finance income	(8.0)	(9.3)
Finance expense	4.2	3.9
Taxation	10.9	5.9
Loss on disposals of property, plant and equipment	0.4	0.6
Depreciation of property, plant and equipment	11.8	11.9
Amortisation of intangible assets	1.1	0.3
Transfer from translation reserve	(1.0)	-
Share-based payments expense	3.1	2.3
Cash generated from operations before changes in working capital and provisions	60.2	46.2
(Increase)/decrease in receivables	(3.1)	15.0
Decrease in payables	(3.4)	(13.4)
Decrease in provisions	(3.0)	(4.2)
Contributions to defined benefit pension scheme	-	(1.9)
Cash generated from operations	50.7	41.7
Interest received	6.0	6.7
Interest paid	(4.7)	(3.5)
Taxation paid	(0.7)	(2.2)
Net cash generated from operating activities	51.3	42.7
Cash flows generated from/(used by) investing activities
Additions to owned property, plant and equipment and leasehold improvements	(1.4)	(5.5)
Additions to intangible assets	(1.4)	(3.6)
Proceeds on disposals of property, plant and equipment	-	0.1
Net cash used by investing activities	(2.8)	(9.0)
Cash flows generated from/(used by) financing activities
Ordinary dividends paid	(7.3)	(3.2)
Share buyback	(10.0)	(10.0)
Acquisition of treasury shares	(2.0)	(1.1)
Repayments of lease liabilities - principal	(10.8)	(11.3)
Net cash used by financing activities	(30.1)	(25.6)
Net (decrease)/increase in cash and cash equivalents - with restrictions	(12.4)	14.0
Net increase/(decrease) in cash and cash equivalents	30.8	(5.9)
Net increase in cash and cash equivalents (including cash with restrictions)	18.4	8.1
Cash and cash equivalents at beginning of the year (including cash with restrictions)	196.9	188.8
Cash and cash equivalents at end of the year (including cash with restrictions)	215.3	196.9
Cash and cash equivalents at beginning of the year (excluding cash with restrictions)	158.5	164.4
Net increase/(decrease) in cash and cash equivalents	30.8	(5.9)
Cash and cash equivalents at end of the year (excluding cash with restrictions)	189.3	158.5

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	1,063.4	1,045.7	1,251.1
Gross profit	115.5	113.8	103.3
Adjusted operating profit	47.6	47.1	43.1
Operating profit	45.7	44.8	31.1
Depreciation (owned assets)	13.5	11.8	11.9
Amortisation	1.0	1.1	0.3
Share-based payments	3.3	3.1	2.3
Operating profit to net income
Finance costs	(4.0)	(4.2)	(3.9)
Profit before tax	49.2	48.2	36.5
Tax	(11.2)	(10.9)	(5.9)
Net income (owners)	38.0	37.3	30.6
Per share
EPS basic	14.2p	13.9p	11.3p
EPS diluted	14.0p	13.7p	11.1p
Dividend per share	5.2p	4.2p	2.4p

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	543.1	+3%	520.3	525.4
Gross profit	53.6	+3%	61.9	51.9
Adjusted operating profit	17.3	+3%	30.3	16.8
Operating profit	17.3	+5%	28.4	16.4
Depreciation (owned assets)	7.0	+32%	6.5	5.3
Amortisation	0.5	−17%	0.5	0.6
Share-based payments	2.0	+11%	1.3	1.8
Operating profit to net income
Finance costs	(2.1)	−9%	(1.9)	(2.3)
Profit before tax	19.2	+5%	30.0	18.2
Tax	(4.3)	+7%	(6.9)	(4.0)
Net income (owners)	14.9	+5%	23.1	14.2
Per share
EPS basic	5.7p	–	8.5p	5.4p
EPS diluted	5.6p	–	8.4p	5.3p
Dividend per share	2.0p	–	3.2p	1.0p

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	75.2	51.3	42.7
Interest paid	(3.7)	(4.7)	(3.5)
Tax paid	–	(0.7)	(2.2)
Investing activities
Capex (PP&E)	(1.4)	(1.4)	(5.5)
Capex (intangibles)	–	(1.4)	(3.6)
Financing activities
Lease principal paid	(11.7)	(10.8)	(11.3)
Dividends paid	(10.6)	(7.3)	(3.2)
Share buybacks	–	(10.0)	(10.0)

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	11.4	n/m	63.8	(12.5)
Interest paid	(2.1)	−32%	(1.6)	(3.1)
Tax paid	(3.0)	–	–	–
Investing activities
Capex (PP&E)	(0.1)	0%	(1.3)	(0.1)
Capex (intangibles)	(0.1)	–	–	–
Financing activities
Lease principal paid	(5.7)	+19%	(6.0)	(4.8)
Dividends paid	(8.2)	+67%	(2.4)	(4.9)
Share buybacks	(7.2)	–	–	–

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other intangibles	50.7	51.1	–
Property, plant & equipment	40.8	34.5	35.3
Associates & JVs	–	–	0.4
Non-current assets	156.8	150.8	154.7
Current assets
Trade receivables	217.6	191.5	185.3
Cash	164.4	189.3	158.5
Current assets	426.3	411.1	392.5
Total assets	583.1	561.9	547.2
Current liabilities
Trade payables	281.5	267.4	271.0
Lease liabilities, current	12.4	8.5	13.0
Current liabilities	304.3	286.1	296.9
Non-current liabilities
Lease liabilities, non-current	20.1	16.5	12.8
Pension surplus / (deficit)	62.9	60.0	54.9
Non-current liabilities	21.1	17.6	14.6
Total liabilities	325.4	303.7	311.5
Equity
Total equity	257.7	258.2	235.7
Net cash and other figures
Net cash / (debt) ex leases	164.4	189.3	158.5
Treasury shares	-1.7m	-1.1m	–
Order book	–	3,600.0	2,500.0

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Other intangibles	50.7	51.1	–	–
Property, plant & equipment	40.8	34.5	–	35.3
Associates & JVs	–	–	–	0.4
Non-current assets	156.8	150.8	–	154.7
Current assets
Trade receivables	217.6	191.5	–	185.3
Cash	164.4	189.3	–	158.5
Current assets	426.3	411.1	–	392.5
Total assets	583.1	561.9	–	547.2
Current liabilities
Trade payables	281.5	267.4	–	271.0
Lease liabilities, current	12.4	8.5	–	13.0
Current liabilities	304.3	286.1	–	296.9
Non-current liabilities
Lease liabilities, non-current	20.1	16.5	–	12.8
Pension surplus / (deficit)	62.9	60.0	–	54.9
Non-current liabilities	21.1	17.6	–	14.6
Total liabilities	325.4	303.7	–	311.5
Equity
Total equity	257.7	258.2	–	235.7
Net cash and other figures
Net cash / (debt) ex leases	164.4	189.3	144.9	158.5
Treasury shares	-1.7m	-1.1m	–	–
Order book	–	3,600.0	–	2,500.0

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