Shearwater Group
SWG · AIM · Technology · mcap £16m · 66.0p
Shearwater provides cyber security, data protection and compliance services, mainly through its Brookcourt subsidiary, plus some software. Customers are large telecom, financial and UK government organisations, usually on multi-year contracts.
- Revenue
- £24.4m
- Operating profit
- −£3.2m
- Net income
- −£2.1m
- Free cash flow
- £1.0m
- Net cash
- £2.2m
- Market cap
- £15.7m
- EV / EBIT
- –
- FCF yield
- +6.4%
- Price / book
- 0.5×
- Revenue
- £14.0m +31%
- Operating profit
- −£1.4m prior −£1.6m
- Net income
- −£1.0m prior −£1.2m
- Cash from operations
- −£2.3m prior −£1.6m
Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
Latest report: H1 Dec 25 (six months to 31 Dec 25), published 17 Mar 26 · read the results ↗
£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source
| FY Mar 24 | |
|---|---|
| Revenue | 24.4 |
| Gross profit | 6.9 |
| Adjusted EBITDA | 0.9 |
| Operating profit | (3.2) |
| Depreciation (owned assets) | 0.0 |
| Depreciation (right-of-use) | 0.2 |
| Amortisation | 3.3 |
| Share-based payments | (0.0) |
| Profit before tax | (3.2) |
| Tax | 1.1 |
| Net income (owners) | (2.1) |
| EPS basic | (8.8p) |
| EPS diluted | (8.8p) |
| H1 Dec 25 | vs H1 Dec 24 | H1 Dec 24 | H1 Sep 24 | H2 Mar 24 | H1 Sep 23 | |
|---|---|---|---|---|---|---|
| Revenue | 14.0 | +31% | 10.7 | 11.3 | 13.9 | 10.5 |
| Gross profit | 2.9 | −9% | 3.2 | 2.5 | 3.7 | 3.2 |
| Adjusted EBITDA | 0.0 | n/m | 0.1 | (0.4) | 0.3 | 0.6 |
| Exceptional / adjusting items | – | – | – | 0.0 | – | (0.2) |
| Operating profit | (1.4) | n/m | (1.6) | (2.1) | (1.9) | (1.3) |
| Depreciation (right-of-use) | 0.1 | 0% | 0.1 | 0.1 | 0.1 | 0.1 |
| Amortisation | 1.3 | −24% | 1.7 | 1.6 | 1.7 | 1.6 |
| Profit before tax | (1.3) | n/m | (1.6) | (2.1) | (1.8) | (1.4) |
| Tax | 0.3 | −25% | 0.4 | 0.5 | 0.7 | 0.4 |
| Net income (owners) | (1.0) | n/m | (1.2) | (1.6) | (1.2) | (0.9) |
| EPS basic | (4.0p) | – | (5.0p) | (7.0p) | (4.8p) | (4.0p) |
| EPS diluted | (4.0p) | – | (5.0p) | (7.0p) | (4.8p) | (4.0p) |
| FY Mar 24 | |
|---|---|
| Cash from operations | 2.3 |
| Tax paid | 0.3 |
| Capex (PP&E) | (0.0) |
| Capex (intangibles) | (1.0) |
| Lease principal paid | (0.2) |
| Latest Dec 25 | FY Mar 24 | |
|---|---|---|
| Goodwill | 28.1 | 42.7 |
| Property, plant & equipment | 0.1 | 0.5 |
| Trade receivables | 15.7 | 16.6 |
| Cash | 2.2 | 5.0 |
| Current assets | 17.9 | 21.6 |
| Total assets | 52.8 | 67.0 |
| Trade payables | 16.6 | 16.4 |
| Current liabilities | 16.6 | 16.4 |
| Total liabilities | 20.1 | 21.3 |
| Total equity | 32.7 | 45.7 |
| Q Dec 25 | Q Jun 25 | Q Dec 24 | H1 Sep 24 | H2 Mar 24 | H1 Sep 23 | |
|---|---|---|---|---|---|---|
| Goodwill | 28.1 | 28.9 | 41.0 | – | 42.7 | – |
| Other intangibles | – | – | – | 41.6 | – | 43.9 |
| Property, plant & equipment | 0.1 | 0.3 | 0.1 | 0.4 | 0.5 | 0.4 |
| Trade receivables | 15.7 | 17.6 | 17.1 | 8.4 | 16.6 | 11.4 |
| Cash | 2.2 | 5.1 | 3.6 | 3.0 | 5.0 | 2.2 |
| Current assets | 17.9 | 22.7 | 20.7 | 11.4 | 21.6 | 13.6 |
| Total assets | 52.8 | 53.2 | 65.8 | 54.9 | 67.0 | 62.9 |
| Trade payables | 16.6 | 15.8 | 17.0 | 7.4 | 16.4 | 9.8 |
| Current liabilities | 16.6 | 15.8 | 17.0 | 7.4 | 16.4 | 9.8 |
| Total liabilities | 20.1 | 19.5 | 21.5 | 10.5 | 21.3 | 15.7 |
| Total equity | 32.7 | 33.7 | 44.3 | 44.4 | 45.7 | 47.2 |
| Net cash / (debt) ex leases | – | – | – | 3.0 | – | 2.2 |
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.