Kainos Group

KNOS · Main Market · Technology · mcap £1,427m · 1276.0p

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

Source: results 18 May 26 ↗

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

Market cap: £1,484m
Owner’s net cash: £82.8m
Net cash / market cap: 6%
EV ex leases: £1,401m
Revenue: £431.1m
Operating profit: £54.8m
Free cash flow after leases: £48.5m
EV / EBIT: 25.6×
FCF yield: 3.3%
Price / tangible book: 31.34×
ROCE: 50%
Net income (owners): £42.5m

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.

Trading update 18 Aug 26ahead6 figures since the last report

Kainos raises FY27 guidance for revenue and adjusted PBT, citing strong first-quarter momentum and record backlog.

FY27 Revenue guidance	comfortably ahead of consensus £509.3m
FY27 Adjusted PBT guidance	comfortably ahead of consensus £77.1m
FY26 Revenue growth	double-digit percentage
Analyst revenue range FY27	£498.0m - £514.0m
Analyst PBT range FY27	£75.0m - £84.0m
Employees	3,475 in 18 countries

As stated by the company, unaudited. Read it →

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 18 May 26 · read the results ↗

Source ↗

	2026 (£000s)	2025 (£000s)
Revenue	431,098	367,246
Cost of sales	(232,190)	(191,337)
Gross profit	198,908	175,909
Operating expenses
Restructuring costs	-	(8,411)
Other operating expenses	(144,291)	(125,643)
Total operating expenses	(144,291)	(134,054)
Impairment gain (including amounts recovered) on trade receivables and accrued income	155	678
Operating profit	54,772	42,533
Finance income	3,722	6,440
Finance expense	(383)	(333)
Profit before tax	58,111	48,640
Income tax expense	(15,611)	(13,080)
Profit for the year	42,500	35,560
Earnings per share
Basic	35.5p	28.4p
Diluted	35.1p	28.2p

Source ↗

	2026 (£000s)	2025 (£000s)
Non-current assets
Goodwill	44,255	37,313
Other intangible assets	8,869	4,239
Investment property	3,904	-
Property, plant and equipment	13,139	12,145
Right-of-use assets	5,182	4,718
Investments in equity instruments	1,299	1,299
Deferred tax asset	4,890	4,911
Total non-current assets	81,538	64,625
Current assets
Trade and other receivables	55,732	38,520
Prepayments	7,660	7,553
Accrued income	39,530	22,673
Cash and cash equivalents	82,806	128,288
Treasury deposits	6,247	5,399
Total current assets	191,975	202,433
Total assets	273,513	267,058
Current liabilities
Trade payables and accruals	(76,495)	(54,269)
Deferred income	(60,793)	(46,358)
Share buyback liability	(761)	-
Current tax liabilities	(8,706)	(2,526)
Other tax and social security	(15,456)	(11,452)
Lease liabilities	(1,239)	(1,246)
Provisions	-	(5,388)
Total current liabilities	(163,450)	(121,239)
Non-current liabilities
Provisions	(1,582)	(1,546)
Deferred tax liability	(3,125)	(1,976)
Lease liabilities	(4,897)	(4,312)
Total non-current liabilities	(9,604)	(7,834)
Total liabilities	(173,054)	(129,073)
Net assets	100,459	137,985
Equity
Share capital	589	618
Share premium account	9,481	3,5623
Other reserves	7,372	3,562
Share-based payment reserve	41,823	36,907
Shares held to be cancelled	(2,612)	(1,431)
Translation reserve	(761)	(1,630)
Retained earnings	43,401	90,478
Total equity	100,459	137,985

Source ↗

	2026 (£'000s)	2025 (Restated) ( ) (£000s)
Cash flows from operating activities
Profit for the year	42,500	35,560
Adjustments for
Finance income	(3,722)	(6,440)
Finance expense	383	333
Tax expense	15,611	13,080
Research & Development Expenditure Credit	(6,032)	(5,073)
Share-based payment expense	5,373	5,930
Depreciation of property, plant and equipment	3,278	3,381
Depreciation of right-of-use assets	1,287	1,277
Amortisation of intangible assets	1,302	836
Gain on disposal of property, plant and equipment	(121)	-
Post-acquisition remuneration settled by shares	445	-
(Decrease)/increase in provisions ions	(5,379)	5,392
Operating cash flows before movements in working capital	54,925	54,276
(Increase)/decrease in trade and other receivables	(26,316)	11,795
Increase in trade and other payables	38,818	5,703
Cash generated from operating activities	67,427	71,774
Income taxes paid	(9,684)	(12,967)
Net cash from operating activities	57,743	58,807
Cash flows from investing activities
Interest received	3,455	6,027
Purchases of property, plant and equipment	(8,041)	(3,369)
Proceeds from sale of property, plant and equipment	125	-
Proceeds from sale of investment property	-	6,200
Amounts placed on treasury deposit	(848)	(996)
Acquisition of subsidiaries net of cash acquired	(7,859)	-
Net cash (used)/from in investing activities	(13,168)	7,862
Cash flows from financing activities
Dividends paid	(34,632)	(35,748)
Share buyback programme	(55,682)	(22,552)
Interest paid	(383)	(333)
Repayment of lease liabilities	(1,183)	(1,121)
Proceeds on issue of shares	1,169	65
Net cash used in financing activities	(90,711)	(59,689)
Net (decrease)/increase in cash and cash equivalents	(46,136)	6,980
Cash and cash equivalents at beginning of year	128,288	121,558
Effect of exchange rate fluctuations on cash held	654	(250)
Cash and cash equivalents at end of year	82,806	128,288

Source ↗

	6 months to 30 Sep 2025 (unaudited) (£000s)	6 months to 30 Sep 2024 (unaudited) (£000s)	12 months to 31 Mar 2025 (audited) (£000s)
Revenue	196,135	183,113	367,246
Cost of sales	(101,970)	(91,065)	(191,337)
Gross profit	94,165	92,048	175,909
Operating expenses
Restructuring costs	-	-	(8,411)
Other operating expenses	(68,292)	(61,929)	(125,643)
Total operating expenses	(68,292)	(61,929)	(134,054)
Impairment gain (including amounts recovered) on trade receivables and accrued income	215	738	678
Operating profit	26,088	30,857	42,533
Finance income	2,474	3,509	6,440
Finance expense	(194)	(164)	(333)
Profit before tax	28,368	34,202	48,640
Income tax expense	(7,788)	(8,777)	(13,080)
Profit for the period	20,580	25,425	35,560

Source ↗

	30 Sep 2025 (unaudited) (£000s)	30 Sep 2024 (unaudited) (£000s)	31 Mar 2025 (audited) (£000s)
Non-current assets
Goodwill	42,778	36,415	37,313
Other intangible assets	11,364	4,507	4,239
Property, plant and equipment	13,599	12,156	12,145
Right-of-use assets	4,370	5,356	4,718
Investments in equity instruments	1,299	1,299	1,299
Deferred tax asset	4,550	5,406	4,911
Total non-current assets	77,960	65,139	64,625
Current assets
Trade and other receivables	42,232	36,588	38,520
Prepayments	7,671	5,419	7,553
Accrued income	35,726	31,422	22,673
Cash and cash equivalents	100,001	137,141	128,288
Treasury deposits	5,498	14,435	5,399
Total current assets	191,128	225,005	202,433
Total assets	269,088	290,144	267,058
Current liabilities
Trade payables and accruals	(57,578)	(38,407)	(54,269)
Dividend payable	(22,935)	(24,027)	-
Share buyback liability	(9,158)	-	-
Deferred income	(49,803)	(40,980)	(46,358)
Current tax liabilities	(4,792)	(8,094)	(2,526)
Lease liabilities	(1,229)	(1,201)	(1,246)
Provisions	(1,070)	-	(5,388)
Other tax and social security	(8,541)	(10,041)	(11,452)
Total current liabilities	(155,106)	(122,750)	(121,239)
Non-current liabilities
Provisions	(1,579)	(1,524)	(1,546)
Deferred tax liability	(3,731)	(1,738)	(1,976)
Lease liabilities	(4,056)	(4,838)	(4,312)
Total non-current liabilities	(9,366)	(8,100)	(7,834)
Total liabilities	(164,472)	(130,850)	(129,073)
Net assets	104,616	159,294	137,985
Equity
Share capital	598	629	618
Share premium account	9,511	9,503	9,481
Other reserves	7,358	3,548	3,562
Share-based payment reserve	39,183	34,323	36,907
Shares held to be cancelled	(9,552)	-	(1,431)
Translation reserve	(1,166)	(2,145)	(1,630)
Retained earnings	58,684	113,436	90,478
Total equity	104,616	159,294	137,985

Source ↗

	6 months to 30 Sep 2025 (unaudited) (£000s)	6 months to 30 Sep 2024 (unaudited) (£000s)	12 months to 31 Mar 2025 (audited) (£000s)
Cash flows from operating activities
Profit for the period	20,580	25,425	35,560
Adjustments for
Finance income	(2,474)	(3,509)	(6,440)
Finance expense	194	164	333
Tax expense	7,788	8,777	13,080
Share-based payment expense	2,872	3,104	5,930
Depreciation of property, plant and equipment	1,681	1,660	3,381
Depreciation of right-of-use assets	624	615	1,277
Gain on disposal of property, plant and equipment	(117)	-	-
Amortisation of intangible assets	365	414	836
Post-acquisition remuneration to be settled by shares	34	-	-
(Decrease)/increase in provisions	(4,312)	(18)	5,392
Operating cash flows before movements in working capital	27,235	36,632	59,349
(Increase)/decrease in trade and other receivables (including accrued income)	(14,769)	6,654	10,912
Decrease/(increase) in trade and other payables (including deferred income)	2,766	(15,392)	1,513
Cash generated from operating activities	15,232	27,894	71,774
Income taxes paid	(5,745)	(8,753)	(12,967)
Net cash from operating activities	9,487	19,141	58,807
Cash flows from investing activities
Interest received	2,251	3,202	6,027
Purchases of property, plant and equipment	(2,976)	(1,531)	(3,369)
Proceeds from sale of investment property	-	6,200	6,200
Proceeds from sale of property, plant and equipment	125	-	-
Acquisition of subsidiaries net of cash acquired	(7,720)	-	-
Amounts placed on treasury deposit	(99)	(10,032)	(996)
Net cash (used in)/from investing activities	(8,419)	(2,161)	7,862
Cash flows from financing activities
Dividends paid	-	-	(35,748)
Share buyback programme	(28,235)	-	(22,552)
Interest paid	(194)	(164)	(333)
Repayment of lease liabilities	(752)	(739)	(1,121)
Proceeds on issue of shares	30	84	65
Net cash used in financing activities	(29,151)	(819)	(59,689)
Net (decrease)/increase in cash and cash equivalents	(28,083)	16,161	6,980
Cash and cash equivalents at start of period	128,288	121,558	121,558
Effect of exchange rate fluctuations on cash held	(204)	(578)	(250)
Cash and cash equivalents at end of period	100,001	137,141	128,288

	FY Mar 26	FY Mar 25
Revenue to operating profit
Revenue	431.1	367.2
Gross profit	198.9	175.9
Adjusted EBITDA	68.3	64.2
Operating profit	54.8	42.5
Depreciation (owned assets)	3.3	3.4
Depreciation (right-of-use)	1.3	1.3
Amortisation	1.3	0.8
Share-based payments	5.4	5.9
Operating profit to net income
Finance costs	(0.4)	(0.3)
Profit before tax	58.1	48.6
Tax	(15.6)	(13.1)
Net income (owners)	42.5	35.6
Per share
EPS basic	35.5p	28.4p
EPS diluted	35.1p	28.2p
Dividend per share	29.6p	28.4p

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue to operating profit
Revenue	235.0	196.1	184.1	183.1
Gross profit	104.7	94.2	83.9	92.0
Adjusted EBITDA	36.2	32.1	27.1	37.1
Operating profit	28.7	26.1	11.7	30.9
Depreciation (owned assets)	1.6	1.7	1.7	1.7
Depreciation (right-of-use)	0.7	0.6	0.7	0.6
Amortisation	0.9	0.4	0.4	0.4
Share-based payments	2.5	2.9	2.8	3.1
Operating profit to net income
Finance costs	(0.2)	(0.2)	(0.2)	(0.2)
Profit before tax	29.7	28.4	14.4	34.2
Tax	(7.8)	(7.8)	(4.3)	(8.8)
Net income (owners)	21.9	20.6	10.1	25.4
Per share
EPS basic	18.5p	17.0p	8.1p	20.3p
EPS diluted	18.4p	16.7p	8.1p	20.1p
Dividend per share	19.8p	9.8p	19.1p	9.3p

	FY Mar 26	FY Mar 25
Operating activities
Cash from operations	57.7	58.8
Interest paid	(0.4)	(0.3)
Tax paid	(9.7)	(13.0)
Investing activities
Capex (PP&E)	(8.0)	(3.4)
Financing activities
Lease principal paid	(1.2)	(1.1)
Dividends paid	(34.6)	(35.7)
Share buybacks	(55.7)	(22.6)
Shares issued	1.2	0.1

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Operating activities
Cash from operations	48.3	9.5	39.7	19.1
Interest paid	(0.2)	(0.2)	(0.2)	(0.2)
Tax paid	(3.9)	(5.7)	(4.2)	(8.8)
Investing activities
Capex (PP&E)	(5.1)	(3.0)	(1.8)	(1.5)
Financing activities
Lease principal paid	(0.4)	(0.8)	(0.4)	(0.7)
Dividends paid	(34.6)	0.0	(35.7)	0.0
Share buybacks	(27.4)	(28.2)	(22.6)	0.0
Shares issued	1.1	0.0	(0.0)	0.1

	31 Mar 26	31 Mar 25
Non-current assets
Goodwill	44.3	37.3
Other intangibles	8.9	4.2
Property, plant & equipment	13.1	12.1
Investment property	3.9	–
Other investments	1.3	1.3
Non-current assets	81.5	64.6
Current assets
Trade receivables	55.7	38.5
Cash	82.8	128.3
Current assets	192.0	202.4
Total assets	273.5	267.1
Current liabilities
Trade payables	–	54.3
Lease liabilities, current	1.2	1.2
Current liabilities	163.4	121.2
Non-current liabilities
Lease liabilities, non-current	4.9	4.3
Non-current liabilities	9.6	7.8
Total liabilities	173.1	129.1
Equity
Total equity	100.5	138.0
Net cash and other figures
Order book	433.9	368.2

	31 Mar 26	30 Sep 25	31 Mar 25	30 Sep 24
Non-current assets
Goodwill	44.3	42.8	37.3	36.4
Other intangibles	8.9	11.4	4.2	4.5
Property, plant & equipment	13.1	13.6	12.1	12.2
Investment property	3.9	–	–	–
Other investments	1.3	1.3	1.3	1.3
Non-current assets	81.5	78.0	64.6	65.1
Current assets
Trade receivables	55.7	42.2	38.5	36.6
Cash	82.8	100.0	128.3	137.1
Current assets	192.0	191.1	202.4	225.0
Total assets	273.5	269.1	267.1	290.1
Current liabilities
Trade payables	–	57.6	54.3	38.4
Lease liabilities, current	1.2	1.2	1.2	1.2
Current liabilities	163.4	155.1	121.2	122.8
Non-current liabilities
Lease liabilities, non-current	4.9	4.1	4.3	4.8
Non-current liabilities	9.6	9.4	7.8	8.1
Total liabilities	173.1	164.5	129.1	130.8
Equity
Total equity	100.5	104.6	138.0	159.3
Net cash and other figures
Order book	433.9	396.9	368.2	354.1

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