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Bytes Technology Group Plc
(LSE:BYIT)
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Rating:77Outperform
Price Target:
510.00 p
â–²(23.25% Upside)
Action:Reiterated
Date:09/18/26
The score is driven primarily by strong financial quality (growth, profitability track record, low leverage, and positive cash generation). Technicals add support due to the prevailing uptrend versus major moving averages, while valuation is a modest headwind given a ~21 P/E despite a moderate dividend yield.
Positive Factors
Strong Revenue and Profit Growth
Rapid revenue expansion alongside robust net income indicates strong customer demand and effective execution across software, cloud, hardware, and services. If sustained, this growth can broaden the customer base, support reinvestment, and strengthen Bytes’ position with enterprise and public-sector buyers.
Negative Factors
Volatile Free Cash Flow Growth
Although cash generation remains positive, uneven year-to-year free cash flow growth reduces predictability for capital allocation and shareholder returns. The volatility may reflect changing working-capital timing or conversion dynamics, making near-term cash planning less dependable despite strong underlying generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and Profit Growth
Rapid revenue expansion alongside robust net income indicates strong customer demand and effective execution across software, cloud, hardware, and services. If sustained, this growth can broaden the customer base, support reinvestment, and strengthen Bytes’ position with enterprise and public-sector buyers.
Read all positive factors
Bytes Technology Group Plc (BYIT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.04B
Dividend Yield2.25%
Average Volume (3M)789.31K
Price to Earnings (P/E)20.3
Beta (1Y)0.71
Revenue Growth9.56%
EPS GrowthN/A
CountryUK
Employees1,331
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.22
Shares Outstanding230,109,150
10 Day Avg. Volume776,399
30 Day Avg. Volume789,308
Financial Highlights & Ratios
PEG Ratio-1.66
Price to Book (P/B)8.96
Price to Sales (P/S)3.30
P/FCF Ratio12.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£458.75Price Target Upside10.86% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.23
Revenue Forecast (FY)£250.97M
Bytes Technology Group Plc Business Overview & Revenue Model
Company Description
Bytes Technology Group Plc engages in the provision of IT software offerings and solutions. operates through the following segments: Software, IT Services, and Hardware. The Software segment sells cloud software. The IT services segment includes I...
How the Company Makes Money
Bytes primarily makes money by selling and managing technology products and services for customers, earning revenue from (1) software licensing and subscriptions, (2) cloud services, and (3) hardware and associated services. A significant part of ...
Bytes Technology Group Plc Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
73
Positive
| Breakdown | TTM | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 240.75M | 220.56M | 217.13M | 207.02M | 184.42M | 145.84M |
| Gross Profit | 178.40M | 164.20M | 163.25M | 145.78M | 149.39M | 123.31M |
| EBITDA | 68.99M | 66.04M | 77.55M | 64.20M | 53.33M | 44.74M |
| Net Income | 52.13M | 51.28M | 54.84M | 46.85M | 40.42M | 32.85M |
Balance Sheet | ||||||
| Total Assets | 478.28M | 474.13M | 455.23M | 379.72M | 320.77M | 283.57M |
| Cash, Cash Equivalents and Short-Term Investments | 68.44M | 98.65M | 113.08M | 88.84M | 73.02M | 67.12M |
| Total Debt | 2.05M | 1.98M | 1.94M | 1.74M | 992.00K | 1.18M |
| Total Liabilities | 408.69M | 393.01M | 357.19M | 301.38M | 259.27M | 236.00M |
| Stockholders Equity | 69.59M | 81.12M | 98.04M | 78.34M | 61.50M | 47.57M |
Cash Flow | ||||||
| Free Cash Flow | 61.64M | 59.23M | 64.90M | 55.67M | 36.79M | 51.43M |
| Operating Cash Flow | 63.19M | 61.04M | 74.97M | 57.01M | 38.15M | 52.05M |
| Investing Cash Flow | -3.32M | -5.91M | -10.07M | -4.36M | -1.36M | -617.00K |
| Financing Cash Flow | -73.73M | -69.56M | -40.66M | -36.83M | -30.89M | -5.05M |
Bytes Technology Group Plc Technical Analysis
Positive
413.80
Price Trends
428.55
Positive
408.98
Positive
359.92
Positive
Market Momentum
6.16
Positive
57.53
Neutral
42.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BYIT, the sentiment is Positive. The current price of 413.8 is below the 20-day moving average (MA) of 445.06, below the 50-day MA of 428.55, and above the 200-day MA of 359.92, indicating a bullish trend. The MACD of 6.16 indicates Positive momentum. The RSI at 57.53 is Neutral, neither overbought nor oversold. The STOCH value of 42.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BYIT.
Bytes Technology Group Plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £1.04B | 20.27 | 69.17% | 2.25% | 9.56% | ― | |
70 Outperform | £81.95M | 32.95 | 16.07% | ― | 24.53% | ― | |
65 Neutral | £30.56M | -16.52 | -8.35% | ― | 7.66% | 8.26% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | £123.87M | 39.50 | 7.23% | 0.29% | 11.32% | 8.80% | |
50 Neutral | £1.68M | 6.00 | 58.02% | ― | ― | ― | |
42 Neutral | £13.35M | -1.45 | -16.28% | 5.66% | 7.96% | 83.46% |
* Technology Sector Average
GB:BYIT
Bytes Technology Group Plc
455.20
91.30
25.09%
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-54.00
-22.50%
Bytes Technology Group Plc Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Bytes Technology lifts FY27 guidance after strong first half
Positive
Sep 17, 2026
Bytes Technology Group has reported trading ahead of expectations for the half year to 31 August 2026, extending the strong momentum seen in late FY26. The company estimates gross invoiced income to be up around 19% year-on-year, with gross profit...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Bytes Technology Group Cancels Newly Repurchased Shares Under Buyback Programme
Positive
Sep 9, 2026
Bytes Technology Group plc has executed further share repurchases on the London Stock Exchange as part of its previously announced buyback programme. The technology company, which is listed in both London and Johannesburg, continues to manage its ...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels Repurchased Shares, Tightening Free Float
Positive
Sep 7, 2026
Bytes Technology Group plc has continued to execute its previously announced share repurchase programme, with Peel Hunt LLP buying a total of 181,000 ordinary shares between 1 and 3 September 2026 at prices around 416–420 pence. The company ...
Business Operations and StrategyExecutive/Board Changes
Bytes Technology Confirms Board Chair Transition to Gavin Rochussen
Neutral
Sep 3, 2026
Bytes Technology Group plc has announced a planned transition in its board leadership, confirming that Patrick De Smedt will retire as Chair of the Board on 4 September 2026. He will be succeeded by Gavin Rochussen, who joined the Board as an inde...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cuts Share Count with Latest Buyback
Positive
Sep 1, 2026
Bytes Technology Group plc has repurchased 250,000 ordinary shares of 1 pence each between 24 and 25 August 2026 under its previously announced share buyback programme, at volume-weighted average prices of around 414.26p and 417.80p respectively. ...
Business Operations and StrategyStock BuybackDelistings and Listing ChangesRegulatory Filings and Compliance
Bytes Technology Group admits new shares from employee plans to trading
Neutral
Sep 1, 2026
Bytes Technology Group plc has issued and allotted 47,394 new ordinary shares of £0.01 each under its share plans, with these securities admitted to trading on the London Stock Exchange’s Main Market under an existing block admission. F...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Group Updates Total Voting Rights After Share Buyback
Neutral
Sep 1, 2026
Bytes Technology Group plc has updated its capital structure disclosure following activity under its share repurchase programme, confirming a revised issued share capital of 230,400,683 ordinary voting shares and stating that it holds no shares in...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cuts Share Count With Latest Buyback Tranche
Positive
Aug 24, 2026
Bytes Technology Group plc has continued executing its share repurchase programme, with Peel Hunt LLP buying a total of 625,000 ordinary shares between 17 and 21 August 2026 at prices ranging from roughly 409p to 420p. The company intends to cance...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 559,000 Shares in Latest Buyback Tranche
Positive
Aug 17, 2026
Bytes Technology Group plc, a UK-listed IT services and software reseller with an additional listing in Johannesburg, focuses on software licensing, cloud solutions and broader technology services for corporate and public sector clients. Its dual ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Bytes Technology Group Adjusts Share Capital With New Issue for Employee Plans
Neutral
Aug 11, 2026
Bytes Technology Group plc, a technology-focused company with primary listing on the London Stock Exchange’s Main Market and a secondary listing on the Johannesburg Stock Exchange, operates in the IT and software services space and uses shar...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 345,000 Repurchased Shares, Tightening Free Float
Positive
Aug 10, 2026
Bytes Technology Group plc has continued to execute its previously announced share repurchase programme, buying back a total of 345,000 ordinary shares between 3 and 7 August 2026 through Peel Hunt LLP at prices ranging from 402.60p to 420.00p. Th...
Regulatory Filings and Compliance
Bytes Technology CFO Reports Minor Share Sale to Cover Broker Fees
Neutral
Aug 5, 2026
Bytes Technology Group plc has disclosed a small share transaction involving its Chief Financial Officer, Andrew Holden, in line with Article 19 of the UK Market Abuse Regulation. The transaction consisted of an automatic on-market sale of 23 ordi...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 420,000 Shares in Latest Buyback Tranche
Positive
Aug 3, 2026
Bytes Technology Group has continued its previously announced share repurchase programme, mandating Peel Hunt to buy back 420,000 ordinary shares between 27 and 31 July 2026 at prices around 400p per share. The company says all shares bought in th...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Updates Share Capital and Voting Rights After Buyback
Neutral
Aug 3, 2026
Bytes Technology Group plc has updated investors on its capital structure, confirming that following recent share repurchases and cancellations under its ongoing buyback programme, its issued share capital now comprises 232,133,114 ordinary shares...
Executive/Board ChangesRegulatory Filings and Compliance
Bytes Technology Director Ross Paterson Takes Audit Chair Role at Vp plc
Neutral
Jul 30, 2026
Bytes Technology Group plc has announced that independent non-executive director Ross Paterson will take on an additional role at Vp plc, becoming an independent non-executive director and chair of its audit committee from 1 September 2026. The ap...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels Shares After Latest Buyback Tranche
Positive
Jul 27, 2026
Bytes Technology Group plc has continued to execute its previously announced share repurchase programme, with Peel Hunt LLP buying ordinary shares on its behalf between 22 and 24 July 2026 at prices between 414.00p and 420.00p per share. The compa...
Regulatory Filings and Compliance
Bytes Technology Executives Boost Shareholdings in On-Market Purchases
Positive
Jul 14, 2026
Bytes Technology Group plc has disclosed that its chief executive officer, Sam Mudd, and independent non-executive director, Gavin Rochussen, have both increased their holdings in the company through on-market purchases of ordinary shares on 13 Ju...
DividendsShareholder Meetings
Bytes Technology Group Sets Rand Dividend for South African Shareholders
Positive
Jul 13, 2026
Bytes Technology Group plc, a U.K.-based technology services firm with primary London and secondary Johannesburg listings, operates a dual-register structure that requires careful handling of dividend payments in different currencies. The group...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 275,000 Shares in Latest Buyback Tranche
Positive
Jul 13, 2026
Bytes Technology Group plc has continued executing its previously announced share repurchase programme, with broker Peel Hunt buying back 275,000 ordinary shares between 6 and 8 July 2026 at prices around 395–400 pence. The company plans to ...
Stock BuybackDividendsShareholder Meetings
Bytes Technology AGM backs core resolutions but rejects new share issuance powers
Neutral
Jul 9, 2026
Bytes Technology Group plc reported that shareholders approved the vast majority of resolutions at its 9 July 2026 Annual General Meeting, including the receipt of the 2026 Annual Report and Accounts, the directors’ remuneration report, the ...
Business Operations and StrategyFinancial Disclosures
Bytes Technology Group posts strong early-year growth as it pushes for greater market share
Positive
Jul 9, 2026
Bytes Technology Group reported that trading in the first four months of its financial year was strong, with double-digit year-on-year growth in gross invoiced income and gross profit across both private and public sector customers, while operatin...
Business Operations and StrategyStock Buyback
Bytes Technology Group Continues Share Buyback, Reduces Share Count
Positive
Jul 6, 2026
Bytes Technology Group plc has continued executing its previously announced share repurchase programme, with Deutsche Bank AG’s London branch buying a series of ordinary shares on its behalf between 29 June and 3 July 2026. The purchases, to...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Updates Voting Rights After Share Buyback
Neutral
Jul 1, 2026
Bytes Technology Group plc has updated its capital structure following the execution of a share repurchase programme, confirming that its issued share capital now comprises 233,145,616 ordinary voting shares of £0.01 each. The company holds n...
Business Operations and StrategyExecutive/Board Changes
Bytes Technology Group names new chair-designate as long-serving chair plans retirement
Positive
Jul 1, 2026
Bytes Technology Group plc, a prominent UK and Ireland software, security, AI and cloud services provider with listings in London and Johannesburg, has announced a planned change in board leadership as it continues to execute its growth strategy. ...
Business Operations and StrategyStock Buyback
Bytes Technology Cancels Newly Repurchased Shares, Tightening Free Float
Positive
Jun 29, 2026
Bytes Technology Group plc has continued executing its previously announced share buyback programme, with Deutsche Bank’s London branch (trading as Deutsche Numis) repurchasing a series of ordinary shares between 22 and 26 June 2026 at volum...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Bytes Technology Cancels Further Shares as Buyback Shrinks Equity Base
Positive
Jun 22, 2026
Bytes Technology Group has continued executing its previously announced share repurchase programme, with Deutsche Bank’s London branch buying back 525,000 ordinary shares between 15 and 19 June 2026 at volume-weighted average prices in the m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.