SThree
STEM · Main Market · Industrial Goods and Services · mcap £358m · 310.0p 2 open situations →
- EV
- £336m
- EV / EBIT
- 17.1x
- Net cash
- £43.0m
- FCF yield
- 3.5%
- Revenue
- £1.3bn
- Cash returned
- 7.4%
- Share price 1y
- +92%
- Insiders 12m
- bought £95k
- Next report
- 16 Dec ●
SThree places contractors and permanent staff in science, technology, engineering and maths roles, mainly in Germany, the US, the UK and Japan. It earns fees mostly from contract placements, where it keeps a margin on each contractor's pay.
Open · 2
Possible offer
Circle8 approached SThree on 9 Sep 2026 and confirmed an unpriced all-cash possible proposal on 11 Sep, which the Board unanimously rejected as significantly undervaluing the company. On 7 Oct 2026 Circle8 made a revised, improved all-cash proposal, and the Board asked the Panel to extend the PUSU deadline by 14 days to 21 Oct to allow limited due diligence.
- Funding
- Structured as all cash, without issuing additional Circle8 common stock 11 Sep 2026 ↗
- Certainty
- No certainty any firm offer will be made or of its terms 7 Oct 2026 ↗
- Board view
- Seeking to assess whether an acceptable proposal can be tabled on terms it would be minded to recommend 7 Oct 2026 ↗
- Bidder
- Circle8 Group Inc. 7 Oct 2026 ↗
- Profit forecast
- Updated FY26 PBT guidance of at least £12m is a Code profit forecast; Rule 28 consultation with the Panel under way 22 Sep 2026 ↗
- Conditions
- Confirmatory due diligence, confirmation of proposed financing arrangements, agreement of definitive transaction documentation 7 Oct 2026 ↗
Next: firm offer or walk away (Rule 2.6) · 18 Nov 2026
- 21 Oct 2026 update
- 9 Sep 2026 approach
Profit upgrade
SThree raised its guidance on 22 Sep 2026; the shares moved +0% on the day.
- 22 Sep 2026 guidance raised · +0% on the day
Closed · 7
Company filings. Not investment advice.