Mitie Group (MTO) Q4 25/26 TU earnings summary

Executive summary

• Achieved record revenue of approximately £5,650m in FY26, up 11% year-over-year, with 6% organic growth and 5% from acquisitions.

• Operating profit before other items rose by 12% to at least £260m, with a resilient margin of 4.7%.

• Strong free cash flow generation of around £150m, exceeding guidance.

• Significant contract wins and a robust bidding pipeline of £31bn, up 29% year-over-year.

• Integration of Marlowe progressing well, supporting expansion in Facilities Compliance.

Financial highlights

• Q4 FY26 revenue increased by 13% year-over-year to £1,525m.

• FY26 operating margin held at 4.7%, up from 4.6% in FY25, despite cost headwinds.

• Average daily net debt rose to £445m (FY25: £264m), with leverage at 1.3x including leases.

• Free cash flow of £150m, well ahead of the >£120m guidance.

Outlook and guidance

• On track to deliver FY25–FY27 Strategic Plan financial targets.

• Entering FY27 with a strong order book and growing momentum, underpinned by recent contract wins and a robust pipeline.

• Increased investments in AI-driven solutions and unified service offerings to drive efficiencies and value.