NCC Group
NCC · Main Market · Technology · mcap £225m · 151.6p
NCC Group sells cyber security services such as testing, consulting and managed services to businesses and governments. Until May 2026 it also ran Escode, a software escrow business that holds code in trust for customers.
Financials · LTM to 31 Mar 26
Source: results 11 Jun 26 ↗
- Revenue
- £234m
- Operating profit
- −£16.5m
- Net income
- £9.1m
- Free cash flow
- £29.6m
- Net debt
- £31.3m
- Market cap
- £254m
- EV / EBIT
- –
- FCF yield
- +11.7%
- Price / book
- 1.5×
Latest half-year · H1 Mar 26 vs H1 Mar 25
results 11 Jun 26 ↗
- Revenue
- £118m −4%
- Operating profit
- −£5.2m prior £5.2m
- Net income
- £8.0m −50%
- Cash from operations
- £15.6m +97%
Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
Latest report: H1 Mar 26 (six months to 31 Mar 26), published 11 Jun 26 · read the results ↗
£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source
| LTM Mar 26 | FY Sep 25 | FY May 24 | FY May 23 | |
|---|---|---|---|---|
| Revenue | 233.8 | 238.9 | 324.4 | 335.1 |
| Gross profit | 89.4 | 88.4 | 134.3 | 132.0 |
| Adjusted EBITDA | – | – | 42.1 | 39.2 |
| Adjusted operating profit | – | – | 20.0 | 16.6 |
| Exceptional / adjusting items | – | – | (41.5) | (14.7) |
| Operating profit | (16.5) | (6.1) | (21.5) | 1.9 |
| Depreciation (owned assets) | 4.0 | 4.3 | 3.7 | 4.5 |
| Depreciation (right-of-use) | 5.1 | 5.5 | 6.3 | 5.7 |
| Share-based payments | 2.6 | 2.1 | 1.6 | 2.2 |
| Finance costs | (2.8) | (4.9) | (6.2) | (6.2) |
| Profit before tax | (19.3) | (11.0) | (27.7) | (4.3) |
| Tax | (0.7) | 1.9 | 2.8 | (0.3) |
| Net income (owners) | 9.1 | 17.1 | (24.9) | (4.6) |
| Discontinued operations | 29.1 | 26.2 | – | – |
| EPS basic | (6.5p) | (3.0p) | (8.0p) | (1.5p) |
| EPS diluted | (6.5p) | (3.0p) | (8.0p) | (1.5p) |
| Dividend per share | – | 3.1p | 3.1p | 3.1p |
| H1 Mar 26 | vs H1 Mar 25 | H2 Sep 25 | H1 Mar 25 | H2 May 24 | H1 Nov 23 | H2 May 23 | |
|---|---|---|---|---|---|---|---|
| Revenue | 118.4 | −4% | 115.4 | 123.5 | 165.2 | 159.2 | 158.5 |
| Gross profit | 45.5 | +2% | 43.9 | 44.5 | 73.9 | 60.4 | 60.5 |
| Adjusted EBITDA | 23.5 | +28% | – | 18.4 | 26.5 | 15.6 | 15.0 |
| Operating profit | (5.2) | n/m | (11.3) | 5.2 | (22.1) | 0.6 | (11.0) |
| Depreciation (owned assets) | 2.0 | −13% | 2.0 | 2.3 | 1.6 | 2.1 | 2.3 |
| Depreciation (right-of-use) | 2.4 | −14% | 2.7 | 2.8 | 3.4 | 2.9 | 2.7 |
| Share-based payments | 1.2 | +71% | 1.4 | 0.7 | 0.8 | 0.8 | (0.3) |
| Finance costs | (1.2) | −64% | (1.6) | (3.3) | (3.2) | (3.0) | (3.6) |
| Profit before tax | (6.4) | n/m | (12.9) | 1.9 | (25.3) | (2.4) | (14.6) |
| Tax | (0.1) | n/m | (0.6) | 2.5 | 2.1 | 0.7 | 2.4 |
| Net income (owners) | 8.0 | −50% | 1.1 | 16.0 | (23.2) | (1.7) | (12.2) |
| Discontinued operations | 14.5 | +25% | 14.6 | 11.6 | – | – | – |
| EPS basic | (2.1p) | – | (4.4p) | 1.4p | (7.5p) | (0.5p) | (4.0p) |
| EPS diluted | (2.1p) | – | (4.4p) | 1.4p | (7.5p) | (0.5p) | (3.9p) |
| Dividend per share | – | – | – | – | 1.7p | 1.5p | 1.7p |
| LTM Mar 26 | FY Sep 25 | FY May 24 | FY May 23 | |
|---|---|---|---|---|
| Cash from operations | 41.2 | 33.5 | 27.3 | 32.1 |
| Interest paid | (1.2) | (3.3) | (4.6) | (4.0) |
| Tax paid | (1.8) | (2.0) | (5.0) | (5.4) |
| Capex (PP&E) | (4.4) | (4.7) | (5.0) | (3.9) |
| Capex (intangibles) | (0.5) | (0.4) | (2.3) | (3.4) |
| Lease principal paid | (5.8) | (6.8) | (6.9) | (6.1) |
| Lease interest paid | (0.9) | (1.1) | (1.3) | (1.1) |
| Dividends paid | (9.2) | (19.0) | (14.5) | (14.5) |
| Share buybacks | (38.8) | (5.8) | – | 0.0 |
| Shares issued | 0.4 | 0.3 | 0.3 | 0.1 |
| H1 Mar 26 | vs H1 Mar 25 | H2 Sep 25 | H1 Mar 25 | H2 May 24 | H1 Nov 23 | H2 May 23 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 15.6 | +97% | 25.6 | 7.9 | 19.1 | 8.2 | 13.5 |
| Interest paid | (0.5) | −81% | (0.7) | (2.6) | (2.5) | (2.1) | (2.3) |
| Tax paid | (2.1) | −9% | 0.3 | (2.3) | (1.9) | (3.1) | (1.9) |
| Capex (PP&E) | (1.0) | −23% | (3.4) | (1.3) | (1.5) | (3.5) | (2.3) |
| Capex (intangibles) | (0.4) | +33% | (0.1) | (0.3) | (0.7) | (1.6) | (1.3) |
| Lease principal paid | (2.9) | −26% | (2.9) | (3.9) | (3.6) | (3.3) | (2.3) |
| Lease interest paid | (0.4) | −33% | (0.5) | (0.6) | (0.8) | (0.5) | (0.6) |
| Dividends paid | 0.0 | n/m | (9.2) | (9.8) | (14.5) | 0.0 | (4.7) |
| Share buybacks | (33.0) | n/m | (5.8) | 0.0 | – | 0.0 | 0.5 |
| Shares issued | 0.1 | n/m | 0.3 | 0.0 | 0.3 | 0.0 | 0.0 |
| Latest Mar 26 | FY Sep 25 | FY Sep 24 | |
|---|---|---|---|
| Goodwill | 46.3 | 46.3 | 156.5 |
| Other intangibles | 2.8 | 3.6 | 89.2 |
| Property, plant & equipment | 9.5 | 10.5 | 11.6 |
| Inventories | – | – | 0.0 |
| Trade receivables | 37.5 | 31.8 | 32.2 |
| Cash | 9.6 | 12.5 | 29.8 |
| Current assets | 293.5 | 268.1 | 146.5 |
| Total assets | 366.1 | 343.3 | 420.1 |
| Trade payables | 59.3 | 43.1 | 46.8 |
| Borrowings, current | 17.5 | 0.0 | 13.6 |
| Lease liabilities, current | 4.4 | 4.1 | 5.7 |
| Current liabilities | 154.2 | 113.8 | 126.3 |
| Borrowings, non-current | 23.4 | 3.3 | 61.5 |
| Lease liabilities, non-current | 13.6 | 15.4 | 21.9 |
| Total liabilities | 197.0 | 136.8 | 214.9 |
| Total equity | 169.1 | 206.5 | 205.2 |
| Net cash / (debt) ex leases | – | 13.1 | (45.3) |
| H1 Mar 26 | H2 Sep 25 | H1 Mar 25 | H2 Sep 24 | Q May 24 | Q Nov 23 | |
|---|---|---|---|---|---|---|
| Goodwill | 46.3 | 46.3 | 159.3 | 156.5 | 214.0 | 247.3 |
| Other intangibles | 2.8 | 3.6 | 86.9 | 89.2 | 96.5 | 102.1 |
| Property, plant & equipment | 9.5 | 10.5 | 11.0 | 11.6 | 12.9 | 13.9 |
| Inventories | – | – | – | 0.0 | 0.6 | 0.8 |
| Trade receivables | 37.5 | 31.8 | 40.6 | 32.2 | 40.3 | 76.3 |
| Cash | 9.6 | 12.5 | 95.2 | 29.8 | 18.0 | 17.5 |
| Current assets | 293.5 | 268.1 | 164.2 | 146.5 | 84.7 | 109.4 |
| Total assets | 366.1 | 343.3 | 438.2 | 420.1 | 433.3 | 499.3 |
| Trade payables | 59.3 | 43.1 | 48.2 | 46.8 | 44.7 | 45.6 |
| Borrowings, current | 17.5 | 0.0 | 12.2 | 13.6 | 4.0 | 0.0 |
| Lease liabilities, current | 4.4 | 4.1 | 5.8 | 5.7 | 7.2 | 7.0 |
| Current liabilities | 154.2 | 113.8 | 121.7 | 126.3 | 113.7 | 137.3 |
| Borrowings, non-current | 23.4 | 3.3 | 82.7 | 61.5 | 52.5 | 61.5 |
| Lease liabilities, non-current | 13.6 | 15.4 | 19.6 | 21.9 | 23.6 | 27.8 |
| Total liabilities | 197.0 | 136.8 | 231.4 | 214.9 | 198.3 | 234.9 |
| Total equity | 169.1 | 206.5 | 206.8 | 205.2 | 235.0 | 264.4 |
| Net cash / (debt) ex leases | – | 13.1 | – | (45.3) | (38.5) | (48.3) |
| Net cash / (debt) incl. leases | – | – | – | – | – | (83.1) |
| Undrawn facilities | – | – | – | – | – | 162.5 |
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.