QinetiQ Group

LN: QQ

£1644.8m market cap

289.6p last close

QinetiQ provides technical support services to customers in the global aerospace, defence and security markets. The group operates through two divisions: EMEA Services (78% of FY17 sales) and Global Products (22%).

Investment summary

QinetiQ holds a unique position in the global defence market, providing capability generation and assurance in challenging times. The company is working tirelessly with the UK MOD to provide world-class Test and Evaluation (T&E) facilities in the face of a tight budget environment. In addition, it is building its global footprint, leveraging both its technological expertise and global defence budget dynamics.

Y/E Mar
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 783.1 145.3 116.1 18.1 16.0 14.6
2018A 833.0 151.8 122.1 19.3 15.0 14.0
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A
Last updated on 25/07/2019
Industry outlook

QinetiQ is adapting successfully to the changing demands of the global defence industry and is capable of delivering medium-term growth. Core to the strategy is delivering efficiencies for the UK MoD and investing for medium-term growth. The Air Strategic Enterprise and the first part of the LTPA amendment demonstrate a win-win for both parties and training is another area where further efficiencies can be delivered. In addition, QinetiQ is seeking to bolster its presence in international markets.

Last updated on 25/07/2019
Sector
Industrials
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.1 (1.5) 5.8
Relative* (1.0) (2.0) 8.7
52-week high/low 312.4p/264.3p
*% relative to local index
Key management
Mark Elliot Chairman
Steve Wadey CEO
David Smith CFO
David Bishop Head of Investor Relations and External Commu