Filtronic

FTC · AIM · Telecommunications · mcap £706m · 268.0p

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Financials · balance sheet 31 May 26 · last twelve months · today’s market value

Source: results 04 Aug 26 ↗

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

Market cap: £589.4m
Owner’s net cash: £12.9m
Net cash / market cap: 2%
EV ex leases: £576.5m
Revenue: £55.5m
Operating profit: £4.0m
Free cash flow after leases: −£2.0m
EV / EBIT: 145.2×
FCF yield: -0.3%
Price / tangible book: 14.42×
ROCE: 9%
Net income (owners): £4.6m

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: FY May 26 (twelve months to 31 May 26), published 04 Aug 26 · read the results ↗

Source ↗

	2026 £000	2025 £000
Revenue	55,529	56,318
Adjusted earnings before interest, taxation, depreciation, amortisation, share-based payments and share warrant charge	11,257	17,011
Amortisation of intangible assets	(586)	(537)
Depreciation of property, plant and equipment and right of use assets	(2,359)	(1,315)
Share warrant charge	(3,504)	(1,303)
Share-based payments	(837)	(414)
Operating profit	3,971	13,442
Finance costs	(486)	(268)
Finance income	275	213
Profit before taxation	3,760	13,387
Taxation	797	662
Profit for the year	4,557	14,049
Basic earnings per share	2.07p	6.42p
Diluted earnings per share	1.78p	6.05p

Source ↗

	2026 £000	2025 £000
Non-current assets
Goodwill and other intangible assets	5,442	3,507
Right of use assets	6,383	4,546
Property, plant and equipment	13,054	4,508
Contract assets	-	1,302
Deferred tax assets	2,810	1,754
Total non-current assets	27,689	15,617
Current assets
Inventories	3,930	4,010
Trade and other receivables	19,370	12,169
Contract assets	1,302	3,504
Cash and cash equivalents	12,905	14,494
Total current assets	37,507	34,177
Total assets	65,196	49,794
Current liabilities
Trade and other payables	8,877	9,119
Provisions	687	516
Deferred income	8,629	851
Tax Liabilities	286	-
Lease liabilities	1,398	1,112
Total current liabilities	19,877	11,598
Non-current liabilities
Deferred income	194	247
Lease liabilities	4,245	2,573
Total non-current liabilities	4,439	2,820
Total liabilities	24,316	14,418
Net assets	40,880	35,376
Equity
Share capital	10,801	10,800
Share premium	11,458	11,354
Share warrant reserve	6,109	6,109
Translation reserve	(671)	(676)
Retained earnings	13,183	7,789
Total equity	40,880	35,376

Source ↗

	2026 £000	2025 £000
Cash flows from operating activities
Operating profit	3,971	13,442
Share warrant charge	3,504	1,303
Share-based payments	837	414
Depreciation of property, plant and equipment and right of use assets	2,359	1,315
Amortisation of intangible assets	586	537
Movement in inventories	69	(797)
Movement in trade and other receivables	(7,208)	(5,671)
Movement in trade and other payables	(1,437)	3,762
Movement in provisions	1,375	24
Change in deferred income	7,724	(437)
Tax paid	27	(49)
Net cash generated from operating activities	11,807	13,843
Cash flows from investing activities
Capitalisation of development costs	(2,303)	(1,496)
Acquisition of other intangible assets	(226)	(277)
Acquisition of property, plant and equipment	(10,312)	(3,835)
Acquisition of right of use assets	-	(177)
Interest received	275	163
Net cash used in investing activities	(12,566)	(5,622)
Cash flows from financing activities
Interest paid	(476)	(268)
Proceeds from financing agreements	718	137
Exercise of employee share options	105	143
Repayment of principle element of lease liabilities	(1,196)	(915)
Net cash used in financing activities	(849)	(903)
Movement in cash and cash equivalents	(1,608)	7,318
Currency exchange movement	19	(39)
Opening cash and cash equivalents	14,494	7,215
Closing cash and cash equivalents	12,905	14,494

Source ↗

	6 months Ended 30 November 2025 (Unaudited) £000	6 months Ended 30 November 2024 (Unaudited) £000	Year Ended 31 May 2025 (Audited) £000
Revenue	25,253	25,595	56,318
Adjusted EBITDA ¹	5,059	8,712	17,011
Depreciation of property, plant and equipment and right of use assets	(807)	(607)	(1,315)
Amortisation of intangible assets	(339)	(258)	(537)
Amortisation of contract assets	(889)	(901)	(1,303)
Share-based payments	(408)	(185)	(414)
Operating profit	2,616	6,761	13,442
Finance costs	(168)	(127)	(268)
Finance income	165	101	213
Profit before taxation	2,613	6,735	13,387
Taxation	29	(7)	662
Profit for the period	2,642	6,728	14,049
Basic and diluted earnings per share (pence)
Basic earnings per share	1.20p	3.08p	6.42p
Diluted earnings per share	1.14p	3.04p	6.05p

Source ↗

	30 November 2025 (Unaudited) £000	30 November 2024 (Unaudited) £000	31 May 2025 (Audited) £000
Non-current assets
Goodwill and other intangible assets	4,506	2,604	3,507
Right of use assets	4,530	3,774	4,546
Property, plant and equipment	9,854	2,061	4,508
Contract assets	651	1,302	1,302
Deferred tax	1,758	1,046	1,754
Total non-current assets	21,299	10,787	15,617
Current assets
Inventories	5,429	4,202	4,010
Trade and other receivables	14,517	15,070	12,169
Contract assets	3,266	401	3,504
Cash and cash equivalents	10,506	7,204	14,494
Total current assets	33,718	26,877	34,177
Total assets	55,017	37,664	49,794
Current liabilities
Trade and other payables	7,228	8,224	9,119
Provisions	535	493	516
Deferred Income	4,751	1,426	851
Lease liabilities	1,164	731	1,112
Total current liabilities	13,678	10,874	11,598
Long term liabilities
Deferred income	220	116	247
Lease liabilities	2,510	2,214	2,573
Total long term liabilities	2,730	2,330	2,820
Total liabilities	16,408	13,204	14,418
Net assets	38,609	24,460	35,376
Equity
Share capital	10,801	10,800	10,800
Share premium	11,458	11,352	11,354
Share warrant reserve	6,109	2,605	6,109
Translation reserve	(598)	(537)	(676)
Retained earnings	10,839	240	7,789
Total equity	38,609	24,460	35,376

Source ↗

	6 months Ended 30 November 2025 (Unaudited) £000	6 months Ended 30 November 2024 (Unaudited) £000	Year Ended 31 May 2025 (Audited) £000
Operating profit	2,616	6,761	13,442
Tax received/(paid)	28	(7)	(49)
Share-based payments	408	186	414
Depreciation	807	607	1,315
Amortisation of contract assets	889	901	1,303
Amortisation of intangible assets	339	258	537
Movement in inventories	(1,406)	(926)	(797)
Movement in trade and other receivables	(2,307)	(8,534)	(5,671)
Movement in trade and other payables	(1,902)	2,820	3,762
Movement in provisions	19	-	24
Change in deferred income	3,873	8	(437)
Net cash generated from operating activities	3,364	2,074	13,843
Cash flows from investing activities
Capitalisation of development costs	(1,295)	(486)	(1,496)
Acquisition of intangible assets	(43)	(103)	(277)
Acquisition of plant and equipment	(5,574)	(1,535)	(3,835)
Acquisition of right of use assets	(553)	-	(177)
Interest received	165	101	163
Net cash used in investing activities	(7,300)	(2,023)	(5,622)
Cash flows from financing activities
Interest paid	(168)	(127)	(268)
Exercise of employee share options	105	141	143
Repayment of principal element of lease liabilities	(507)	(437)	(915)
Receipt of interest-bearing borrowings	495	364	137
Net cash generated used in financing activities	(75)	(59)	(903)
Movement in cash and cash equivalents	(4,011)	(8)	7,318
Currency exchange movements	23	(3)	(39)
Opening cash and cash equivalents	14,494	7,215	7,215
Closing cash and cash equivalents	10,506	7,204	14,494

	FY May 26	FY May 25
Revenue to operating profit
Revenue	55.5	56.3
Adjusted EBITDA	11.3	17.0
Operating profit	4.0	13.4
Amortisation	(0.6)	(0.5)
Share-based payments	(0.8)	(0.4)
Operating profit to net income
Finance costs	(0.5)	(0.3)
Profit before tax	3.8	13.4
Tax	0.8	0.7
Net income (owners)	4.6	14.0
Per share
EPS basic	2.1p	6.4p
EPS diluted	1.8p	6.0p

	H2 May 26	H1 Nov 25	H2 May 25	H1 Nov 24
Revenue to operating profit
Revenue	30.3	25.3	30.7	25.6
Adjusted EBITDA	6.2	5.1	8.3	8.7
Operating profit	1.4	2.6	6.7	6.8
Amortisation	(0.2)	(0.3)	(0.3)	(0.3)
Share-based payments	(0.4)	(0.4)	(0.2)	(0.2)
Operating profit to net income
Finance costs	(0.3)	(0.2)	(0.1)	(0.1)
Profit before tax	1.1	2.6	6.7	6.7
Tax	0.8	0.0	0.7	(0.0)
Net income (owners)	1.9	2.6	7.3	6.7
Per share
EPS basic	0.9p	1.2p	3.3p	3.1p
EPS diluted	0.6p	1.1p	3.0p	3.0p

	FY May 26	FY May 25
Operating activities
Cash from operations	11.8	13.8
Interest paid	(0.5)	(0.3)
Tax paid	0.0	(0.0)
Investing activities
Capex (PP&E)	(10.3)	(3.8)
Capex (intangibles)	(2.3)	(1.5)
Financing activities
Lease principal paid	(1.2)	(0.9)
Shares issued	0.1	0.1

	H2 May 26	H1 Nov 25	H2 May 25	H1 Nov 24
Operating activities
Cash from operations	8.4	3.4	11.8	2.1
Interest paid	(0.3)	(0.2)	(0.1)	(0.1)
Investing activities
Capex (PP&E)	(4.7)	(5.6)	(2.3)	(1.5)
Capex (intangibles)	(1.0)	(1.3)	(1.0)	(0.5)
Financing activities
Lease principal paid	(0.7)	(0.5)	(0.5)	(0.4)
Shares issued	0.0	0.1	0.0	0.1

	31 May 26	31 May 25
Non-current assets
Property, plant & equipment	13.1	4.5
Non-current assets	27.7	15.6
Current assets
Inventories	3.9	4.0
Trade receivables	19.4	12.2
Cash	12.9	14.5
Current assets	37.5	34.2
Total assets	65.2	49.8
Current liabilities
Trade payables	8.9	9.1
Lease liabilities, current	1.4	1.1
Current liabilities	19.9	11.6
Non-current liabilities
Lease liabilities, non-current	4.2	2.6
Non-current liabilities	4.4	2.8
Total liabilities	24.3	14.4
Equity
Total equity	40.9	35.4
Net cash and other figures
Net cash / (debt) ex leases	10.8	12.3
Net cash / (debt) incl. leases	7.3	10.8
Undrawn facilities	10.0	–

	31 May 26	30 Nov 25	31 May 25	30 Nov 24
Non-current assets
Property, plant & equipment	13.1	9.9	4.5	2.1
Non-current assets	27.7	–	15.6	–
Current assets
Inventories	3.9	5.4	4.0	4.2
Trade receivables	19.4	14.5	12.2	15.1
Cash	12.9	10.5	14.5	7.2
Current assets	37.5	–	34.2	–
Total assets	65.2	55.0	49.8	37.7
Current liabilities
Trade payables	8.9	7.2	9.1	8.2
Lease liabilities, current	1.4	1.2	1.1	0.7
Current liabilities	19.9	–	11.6	–
Non-current liabilities
Lease liabilities, non-current	4.2	2.5	2.6	2.2
Non-current liabilities	4.4	–	2.8	–
Total liabilities	24.3	16.4	14.4	13.2
Equity
Total equity	40.9	38.6	35.4	24.5
Net cash and other figures
Net cash / (debt) ex leases	10.8	8.2	12.3	5.1
Net cash / (debt) incl. leases	7.3	6.8	10.8	4.3
Undrawn facilities	10.0	–	–	–

Read automatically from each results announcement. Check the source before relying on a figure.

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Company filings. Not investment advice.