Saga

SAGA · Main Market · Travel and Leisure · mcap £1,112m · 780.0p

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

Source: results 30 Sep 26 ↗

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

Market cap: £1,141m
Owner’s net cash: £312.2m
Net cash / market cap: 27%
EV ex leases: £828.9m
Revenue: £699.3m
Free cash flow after leases: £172.1m
FCF yield: 15.1%
Net income (owners): £3.6m

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: H1 Jul 26 (six months to 31 Jul 26), published 30 Sep 26 · read the results ↗

Source ↗

	6m to Jul 2026 £m	6m to Jul 2025 (re-presented) 1 £m	12m to Jan 2026 £m
Continuing operations
Revenue	367.5	328.2	660.0
Cost of sales	(184.6)	(163.9)	(341.1)
Gross profit	182.9	164.3	318.9
Administrative and selling expenses	(128.9)	(125.2)	(252.9)
Increase in credit loss allowance	(1.0)	(0.7)	(0.9)
Impairment of non-financial assets	(0.2)	(0.3)	(0.5)
Investment income	4.2	2.7	6.1
Finance costs	(29.0)	(37.1)	(68.6)
Profit before tax from continuing operations	28.0	3.7	2.1
Tax credit	1.4	2.2	2.0
Profit from continuing operations	29.4	5.9	4.1
Loss from discontinued operations, net of tax 17a	-	(9.3)	(0.5)
Total profit/(loss) for the period	29.4	(3.4)	3.6
Attributable to
Equity holders of the parent	29.4	(3.4)	3.6
Earnings/(loss) per share
Basic	20.5p	(2.4p)	2.5p
Diluted	19.9p	(2.4p)	2.4p
Earnings per share from continuing operations
Basic	20.5p	4.2p	2.9p
Diluted	19.9p	4.2p	2.8p

Source ↗

	Jul 2026 As at 31 Jul 2026 £m	Jul 2025 As at 31 Jul 2025 (re-presented) 2 £m	Jan 2026 As at 31 Jan 2026 (re-presented) 2 £m
Non-current assets
Goodwill	206.4	206.4	206.4
Intangible assets	30.5	33.9	33.0
Property, plant and equipment	557.5	579.7	568.3
Right-of-use assets	32.5	37.8	35.1
Trade and other receivables	0.5	0.5	0.2
Financial assets	3.6	0.5	0.1
Deferred tax assets	-	-	-
Total non-current assets	831.0	858.8	843.1
Current assets
Inventories	9.5	8.2	8.4
Financial assets	2.3	12.4	1.0
Assets held for sale	10.8	11.0	11.0
Trade and other receivables	152.5	153.6	143.1
Current tax assets	-	1.2	-
Trust and escrow accounts	-	18.1	12.0
Cash and short-term deposits	312.2	212.0	257.0
Total current assets	487.3	416.5	432.5
Total assets	1318.3	1,275.3	1,275.6
Non-current liabilities
Retirement benefit scheme liability	6.2	34.5	25.4
Provisions	6.5	5.6	3.1
Financial liabilities	552.0	610.4	584.7
Deferred tax liabilities	-	-	-
Contract liabilities	95.6	6.6	69.0
Total non-current liabilities	660.3	657.1	682.2
Current liabilities
Provisions	19.6	18.3	20.5
Trade and other payables	248.1	268.5	253.3
Financial liabilities	69.4	65.4	66.7
Contract liabilities	197.4	207.2	183.2
Total current liabilities	534.5	559.4	523.7
Total liabilities	1194.8	1,216.5	1,205.9
Total net assets	123.5	58.8	69.7
Equity
Issued capital	21.9	21.7	21.7
Share premium	648.3	648.3	648.3
Own shares held reserve	(1.8)	(1.6)	(1.6)
Retained deficit	(557.4)	(618.8)	(604.7)
Share-based payment reserve	9.7	10.4	9.4
Hedging reserve	4.5	(1.2)	(2.2)
Cost of hedging reserve	(1.7)	-	(1.2)
Total equity	123.5	58.8	69.7

Source ↗

	6m to Jul 2026 £m	6m to Jul 2025 £m	12m to Jan 2026 £m
Profit before tax from continuing operations	28.0	3.7	2.1
(Loss)/profit before tax from discontinued operations	-	(7.4)	2.4
Profit/(loss) before tax	28.0	(3.7)	4.5
Depreciation, impairment and profit on disposal, of property, plant and equipment and right-of-use of assets	15.9	14.7	31.7
Amortisation and impairment of intangible assets and goodwill	4.1	3.5	7.1
Loss on disposal of assets held for sale 17a	-	23.9	10.2
Impairment of assets held for sale 17b	0.2	-	-
Share-based payment transactions	2.2	1.9	3.9
Net finance expense from insurance contracts	-	5.3	5.3
Net finance income from reinsurance contracts	-	(2.2)	(2.2)
Finance costs	29.0	37.1	68.6
Interest income from investments	(4.2)	(7.3)	(10.8)
Decrease/(increase) in trust and escrow accounts	12.0	(9.3)	(3.2)
Movements in other assets and liabilities	37.7	15.9	38.4
	124.9	79.8	153.5
Investment income interest received	4.2	5.0	13.0
Interest paid	(25.9)	(42.8)	(49.9)
Income tax received	1.4	0.4	0.4
Net cash flows from operating activities	104.6	42.4	117.0
Investing activities
Proceeds from sale of property, plant and equipment	0.1	0.3	1.0
Purchase of, and payments for the construction of, property, plant and equipment, and intangible assets	(3.4)	(11.6)	(16.1)
Disposal of financial assets	0.1	25.8	36.8
Disposal of subsidiary 17a	-	57.9	68.8
Cash and cash equivalents disposed of with subsidiary 17a	-	(84.4)	(84.4)
Net cash flows (used in)/from investing activities	(3.2)	(12.0)	6.1
Financing activities
Payment of principal portion of lease liabilities	(3.9)	(3.1)	(6.3)
Proceeds from borrowings	-	335.0	335.0
Repayment of borrowings	(27.1)	(353.6)	(380.6)
Debt issue costs	-	-	(17.6)
Net cash flows used in financing activities	(31.0)	(21.7)	(69.5)
Net increase in cash and cash equivalents	70.4	8.7	53.6
1 February 2026 opening balance prior to restatement for amendments to International Financial Reporting Standard ( IFRS ) 9 'Financial Instruments'	256.7	–	–
Adjustment on initial application of amendments to IFRS 9 on 1 February 2026 3	(15.1)	–	–
Cash and cash equivalents at the start of the period	241.6	203.1	203.1
Cash and cash equivalents at the end of the period	312.0	211.8	256.7

Source ↗

	2026 (unaudited) £m	2025 £m
Continuing operations
Revenue	660.0	588.3
Cost of sales	(341.1)	(308.8)
Gross profit	318.9	279.5
Administrative and selling expenses	(252.9)	(231.8)
Increase in credit loss allowance	(0.9)	(1.8)
Impairment of non-financial assets	(0.5)	(162.8)
Gain on lease modification	-	0.2
Net profit on disposal of property, plant and equipment and software	-	0.9
Investment income	6.1	6.1
Finance costs	(68.6)	(50.5)
Profit/(loss) before tax from continuing operations	2.1	(160.2)
Income tax credit/(expense)	2.0	(18.5)
Profit/(loss) from continuing operations	4.1	(178.7)
(Loss)/profit from discontinued operations, net of tax 1 18a	(0.5)	13.8
Profit/(loss) for the year	3.6	(164.9)
Attributable to
Equity holders of the parent	3.6	(164.9)
Earnings/(loss) per share
Basic	2.5p	(117.4p)
Diluted	2.4p	(117.4p)
Earnings/(loss) per share from continuing operations
Basic	2.9p	(127.2p)
Diluted	2.8p	(127.2p)

Source ↗

	2026 (unaudited) £m	2025 £m
Assets
Goodwill	206.4	206.4
Intangible assets	33.0	34.3
Property, plant and equipment	568.3	582.8
Right-of-use assets	35.1	24.9
Financial assets	1.1	12.6
Current tax assets	-	0.4
Inventories	8.4	8.3
Trade and other receivables	143.3	143.7
Trust and escrow accounts	12.0	8.8
Cash and short-term deposits	257.0	129.2
Assets held for sale	11.0	436.9
Total assets	1,275.6	1,588.3
Liabilities
Retirement benefit scheme liability	25.4	39.8
Provisions	23.6	21.7
Financial liabilities	651.4	690.1
Contract liabilities	252.2	176.8
Trade and other payables	253.3	255.3
Liabilities directly associated with assets held for sale	-	346.9
Total liabilities	1,205.9	1,530.6
Equity
Issued capital	21.7	21.5
Share premium	648.3	648.3
Own shares held reserve	(1.6)	(1.4)
Retained deficit	(604.7)	(620.2)
Share-based payment reserve	9.4	10.0
Hedging reserve	(2.2)	(0.5)
Cost of hedging reserve	(1.2)	-
Total equity	69.7	57.7
Total equity and liabilities	1,275.6	1,588.3

Source ↗

	2026 (unaudited) £m	2025 £m
Profit/(loss) before tax from continuing operations	2.1	(160.2)
Profit before tax from discontinued operations 18a	2.4	19.1
Profit/(loss) before tax	4.5	(141.1)
Depreciation, impairment and profit on disposal, of property, plant and equipment and right-of-use assets	31.7	29.8
Amortisation and impairment of intangible assets and goodwill	7.1	176.8
Loss on disposal of assets held for sale 18a	10.2	-
Impairment of assets held for sale 18b	-	0.4
Gain on lease modification	-	(0.2)
Share-based payment transactions	3.9	4.2
Net finance expense from insurance contracts	5.3	15.5
Net finance income from reinsurance contracts	(2.2)	(7.3)
Finance costs	68.6	50.5
Interest income from investments	(10.8)	(17.3)
(Increase)/decrease in trust and escrow accounts	(3.2)	29.1
Movements in other assets and liabilities	38.4	(1.2)
	153.5	139.2
Investment income interest received	13.0	12.1
Interest paid	(49.9)	(41.7)
Income tax received	0.4	3.6
Net cash flows from operating activities	117.0	113.2
Investing activities
Proceeds from sale of property, plant and equipment and right-of-use assets	1.0	0.9
Purchase of, and payments for the construction of, property, plant and equipment, and intangible assets	(16.1)	(20.1)
Disposal of financial assets	36.8	45.5
Purchase of financial assets	-	(11.5)
Disposal of subsidiary 18a	68.8	-
Cash and cash equivalents disposed of with subsidiary 18a	(84.4)	-
Net cash flows from investing activities	6.1	14.8
Financing activities
Payment of principle portion of lease liabilities	(6.3)	(7.3)
Proceeds from new borrowings	335.0	95.0
Repayment of borrowings	(380.6)	(232.2)
Debt issue costs	(17.6)	-
Net cash flows used in financing activities	(69.5)	(144.5)
Net increase/(decrease) in cash and cash equivalents	53.6	(16.5)
Cash and cash equivalents at the start of the year	203.1	219.6
Cash and cash equivalents at the end of the year	256.7	203.1

	LTM Jul 26	FY Jan 26	FY Jan 25
Insurance and banking
Gross written premium	–	552.0	574.8
Revenue to operating profit
Revenue	699.3	660.0	588.3
Gross profit	–	318.9	279.5
Share-based payments	4.2	3.9	4.2
Operating profit to net income
Finance costs	60.5	68.6^r	(50.5)
Profit before tax	26.4	2.1	(160.2)
Tax	1.2	2.0	(18.5)
Net income (owners)	–	3.6	(164.9)
Discontinued operations	–	(0.5)	13.8
Per share
EPS basic	18.8p	2.5p	(117.4p)
EPS diluted	–	2.4p	(117.4p)

	H1 Jul 26	vs H1 Jul 25	H2 Jan 26	H1 Jul 25
Revenue to operating profit
Revenue	367.5	+12%	331.8	328.2
Adjusted EBITDA	90.9	+35%	–	67.5
Exceptional / adjusting items	(18.6)	−6%	–	(19.8)
Share-based payments	2.2	+16%	2.0	1.9
Operating profit to net income
Finance costs	29.0	−22%	31.5	37.1
Profit before tax	28.0	n/m	(1.6)	3.7
Tax	1.4	−36%	(0.2)	2.2
Per share
EPS basic	20.5p	–	(1.7p)	4.2p

	LTM Jul 26	FY Jan 26	FY Jan 25
Operating activities
Cash from operations	179.2	117.0	113.2
Interest paid	(33.0)	(49.9)	(41.7)
Financing activities
Lease principal paid	(7.1)	(6.3)	(7.3)

	H1 Jul 26	vs H1 Jul 25	H2 Jan 26	H1 Jul 25
Operating activities
Cash from operations	104.6	+147%	74.6	42.4
Interest paid	(25.9)	−39%	(7.1)	(42.8)
Financing activities
Lease principal paid	(3.9)	+26%	(3.2)	(3.1)

	31 Jul 26	31 Jan 26	31 Jan 25
Non-current assets
Goodwill	206.4	206.4	206.4
Other intangibles	30.5	33.0	34.3
Property, plant & equipment	557.5	568.3	582.8
Non-current assets	831.0	843.1	–
Current assets
Inventories	9.5	8.4	8.3
Trade receivables	152.5	143.1	143.7
Cash	312.2	257.0	129.2
Current assets	487.3	432.5	–
Total assets	1,318.3	1,275.6	1,588.3
Current liabilities
Trade payables	248.1	253.3	255.3
Current liabilities	534.5	523.7	–
Non-current liabilities
Pension surplus / (deficit)	–	(25.4)	(39.8)
Non-current liabilities	660.3	682.2	–
Total liabilities	1,194.8	1,205.9	1,530.6
Equity
Total equity	123.5	69.7	57.7
Net cash and other figures
Net cash / (debt) incl. leases	(429.1)	(499.5)	(592.8)

	31 Jul 26	31 Jan 26	31 Jul 25	31 Jan 25
Non-current assets
Goodwill	206.4	206.4	206.4	206.4
Other intangibles	30.5	33.0	33.9	34.3
Property, plant & equipment	557.5	568.3	579.7	582.8
Non-current assets	831.0	843.1	858.8	–
Current assets
Inventories	9.5	8.4	8.2	8.3
Trade receivables	152.5	143.1	153.6	143.7
Cash	312.2	257.0	212.0	129.2
Current assets	487.3	432.5	416.5	–
Total assets	1,318.3	1,275.6	1,275.3	1,588.3
Current liabilities
Trade payables	248.1	253.3	268.5	255.3
Current liabilities	534.5	523.7	559.4	–
Non-current liabilities
Pension surplus / (deficit)	–	(25.4)	–	(39.8)
Non-current liabilities	660.3	682.2	657.1	–
Total liabilities	1,194.8	1,205.9	1,216.5	1,530.6
Equity
Total equity	123.5	69.7	58.8	57.7
Net cash and other figures
Net cash / (debt) incl. leases	(429.1)	(499.5)	(515.1)	(592.8)

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Company filings. Not investment advice.