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.£1226.9m
Last close216.30p
High / Low (52 weeks)319.7p / 201.5p
Stock market listingLN
Forecast net cash (£m)197.2
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual(4)(10.3)(18.1)
Relative *(7)(12.7)(24.4)

* % 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 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

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

Thu, 20 Jul 2017 10:05:02 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 13.3 7.0
2017A 783.1 145.3 116.1 18.1 12.0 10.9
2018E 823.9 143.6 111.9 17.1 12.6 11.5
2019E 838.4 140.7 110.2 16.9 12.8 9.6

Last updated on 07/12/2017

Investment summary

The transformation at QinetiQ continues. The H118 report has demonstrated the contribution from recent acquisitions, the longer-term nature of contracts and the broadening international reach of the company. While the UK defence market is not without challenges, QinetiQ’s strategy is focused on delivering efficiencies for the UK MOD and investing for medium-term growth. Importantly, FY18 guidance has been maintained. We have made small adjustments to our FY18 and FY19 estimates.

Last updated on 13/12/2017

Industry outlook

QinetiQ is actively embracing the UK defence environment to help the MOD achieve the cost savings that it needs. 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. H118 has seen record order success in Australia, which QinetiQ actually considers a home market, facilitated in part by the RubiKon acquisition.

Last updated on 13/12/2017

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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