QinetiQ Group (QQ)

Business description

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%).

Stock data

Market cap.£1168.1m
Last close204.30p
High / Low (52 weeks)319.7p / 204.3p
Stock market listingLN
Forecast net cash (£m)198.6
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual(15.2)(13.5)(17.2)
Relative *(13.6)(13.1)(25)

* % Relative to local index

Other companies in sector Show

Company news

QinetiQ shares tank as new contracts slow in the first quarter

Wed, 19 Jul 2017 09:40:14 GMT

QinetiQ share price slump brings stock into Goldman's price range

Thu, 20 Jul 2017 10:05:02 GMT

QinetiQ marches higher as Barclays upgrades to 'overweight'

Thu, 17 Aug 2017 09:32:35 GMT

TOP NEWS: QinetiQ Group Hikes Dividend Amid Solid Interim Results

Thu, 16 Nov 2017 08:48:45 GMT

All steady at defence contactor QinetiQ, with third-quarter trading "as expected"

Wed, 15 Feb 2017 07:35:37 GMT

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 755.7 134.7 108.6 16.3 12.5 6.6
2017A 783.1 145.3 116.1 18.1 11.3 10.0
2018E 831.4 143.1 110.3 16.9 12.1 9.2
2019E 850.6 150.1 118.4 18.1 11.3 8.3

Last updated on 24/10/2017

Investment summary

QinetiQ’s pre-close statement continued to show the group’s confidence in the outlook and highlighted that, despite fears of UK defence slowdown, order intake was strong in Q2 and revenue under contract is as expected at this stage. With growth in Global Products also confirmed, supported by a combination of organic growth and the contribution from the Target Systems acquisition, both divisions are set to advance. We are therefore maintaining our forecasts and are encouraged by the progress in the group’s strategic objectives, which have seen orders placed across the core UK business, as well as home markets in the US and Australia.

Last updated on 02/11/2017

Industry outlook

The UK business is underpinned by some good long-term contracts, such as the LTPA and NCSISS. Indications are that following several years of decline due to decreases in conflict-related revenues, the Global Products division has now stabilised.

Last updated on 02/11/2017

Key management

Mark Elliot, Chairman
Steve Wadey, CEO
David Smith , CFO
David Bishop, Head of Investor Relations and External Commu

Company address

Cody Technology Park, Cody Building
Ively Road
Farnborough
Hampshire
GU14 0LX
United Kingdom
+44(0)8700 100 942
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