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Cohort plc
(LSE:CHRT)
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Rating:66Neutral
Price Target:
1,248.00 p
▲(0.97% Upside)
Action:Downgraded
Date:07/17/26
The score is driven primarily by solid growth and a generally sound balance sheet, offset by a significant deterioration in 2026 cash generation (negative free cash flow). Technicals are supportive with an ongoing uptrend, while valuation is a headwind due to a high P/E and only modest dividend yield.
Positive Factors
Sustained Revenue Growth
Cohort has more than doubled revenue over four years while still delivering solid growth in the latest period. This indicates expanding programme activity and customer demand, providing a stronger base for scale benefits, cross-selling across subsidiaries, and sustained future earnings growth.
Negative Factors
Weak Latest Cash Conversion
The sharp reversal in cash generation is a material weakness despite higher earnings. Negative free cash flow reduces near-term financial flexibility and may constrain investment or shareholder returns if it persists, while the decline in operating cash flow indicates that reported profitability is not currently translating reliably into cash.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Cohort has more than doubled revenue over four years while still delivering solid growth in the latest period. This indicates expanding programme activity and customer demand, providing a stronger base for scale benefits, cross-selling across subsidiaries, and sustained future earnings growth.
Read all positive factors
Cohort plc (CHRT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£557.84M
Dividend Yield1.48%
Average Volume (3M)120.46K
Price to Earnings (P/E)23.7
Beta (1Y)1.11
Revenue Growth13.46%
EPS Growth15.89%
CountryUK
Employees1,719
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.51
Shares Outstanding47,204,346
10 Day Avg. Volume137,173
30 Day Avg. Volume120,463
Financial Highlights & Ratios
PEG Ratio1.51
Price to Book (P/B)3.00
Price to Sales (P/S)1.82
P/FCF Ratio-94.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,563.33Price Target Upside26.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.67
Revenue Forecast (FY)£325.99M
Cohort plc Business Overview & Revenue Model
Company Description
Cohort plc, operating through its various subsidiary businesses, delivers a diverse array of products and services predominantly to the defense and security sectors. Its operational reach spans across the United Kingdom, Germany, Portugal, nations...
How the Company Makes Money
Cohort makes money mainly by delivering defence and security contracts through its subsidiaries, generating revenue from a mix of (1) project and programme delivery and (2) ongoing support services. Project/programme revenue typically comes from d...
Cohort plc Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
46
Neutral
| Breakdown | Apr 2025 | Apr 2024 | Apr 2023 | Apr 2022 | Apr 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 306.39M | 270.04M | 202.53M | 182.71M | 137.76M |
| Gross Profit | 87.29M | 90.42M | 76.27M | 64.86M | 56.60M |
| EBITDA | 44.89M | 35.57M | 29.25M | 23.07M | 21.79M |
| Net Income | 23.90M | 19.25M | 15.32M | 11.36M | 9.20M |
Balance Sheet | |||||
| Total Assets | 421.05M | 396.58M | 252.50M | 222.32M | 203.17M |
| Cash, Cash Equivalents and Short-Term Investments | 49.58M | 74.65M | 55.16M | 50.96M | 40.37M |
| Total Debt | 56.31M | 78.88M | 40.51M | 44.48M | 39.52M |
| Total Liabilities | 232.81M | 236.49M | 142.66M | 122.54M | 113.98M |
| Stockholders Equity | 186.42M | 158.61M | 108.67M | 97.02M | 83.97M |
Cash Flow | |||||
| Free Cash Flow | -5.88M | 38.00M | 16.36M | 11.06M | 17.52M |
| Operating Cash Flow | 11.74M | 51.18M | 23.02M | 16.29M | 19.52M |
| Investing Cash Flow | -11.73M | -93.65M | -6.16M | -6.11M | -2.37M |
| Financing Cash Flow | 7.31M | 46.18M | -16.92M | -10.34M | -8.70M |
Cohort plc Technical Analysis
Positive
1236.00
Price Trends
1218.50
Negative
1245.36
Negative
1216.00
Negative
Market Momentum
-0.29
Negative
53.16
Neutral
54.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CHRT, the sentiment is Positive. The current price of 1236 is above the 20-day moving average (MA) of 1181.60, above the 50-day MA of 1218.50, and above the 200-day MA of 1216.00, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 53.16 is Neutral, neither overbought nor oversold. The STOCH value of 54.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CHRT.
Cohort plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £54.44B | 26.57 | 17.49% | 2.01% | 7.20% | 8.54% | |
68 Neutral | £2.44B | 16.53 | 17.55% | 1.83% | 1.20% | 221.80% | |
66 Neutral | £557.84M | 23.69 | 13.59% | 1.48% | 13.46% | 15.89% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | £2.33B | 23.00 | 19.34% | 2.41% | -0.47% | ― | |
61 Neutral | £4.46B | 21.50 | 31.57% | 0.82% | 7.17% | -14.18% | |
59 Neutral | £1.38B | 41.75 | 9.03% | 1.59% | -3.99% | -22.35% |
* Industrials Sector Average
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Cohort plc Corporate Events
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
Cohort Wins Strong Shareholder Backing at AGM
Positive
Sep 24, 2026
Cohort plc’s shareholders have overwhelmingly backed all resolutions at the company’s Annual General Meeting, confirming approval of the accounts, remuneration policy and report, and a dividend, as well as the re-election of all direct...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Cohort Grants Discounted Sharesave Options to Senior Executives
Positive
Sep 17, 2026
Cohort plc has granted savings-related share options to chief executive Andrew Thomis and finance director Simon Walther under its 2025 Sharesave Scheme, following an invitation extended to all employees in August. Thomis received 795 options and ...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresRegulatory Filings and Compliance
Cohort Plc Amends Director LTIP Figures After Growth Beats Targets
Positive
Sep 15, 2026
Cohort plc has corrected previously reported figures for Finance Director Simon Walther’s long‑term incentive plan (LTIP) share vesting, confirming that 39,635 shares vested and 18,679 were sold to meet tax and National Insurance liabi...
Executive/Board ChangesFinancial Disclosures
Cohort Directors Gain Shares as LTIP Vests on Strong Growth
Positive
Sep 11, 2026
Cohort plc has reported changes in director shareholdings following the vesting of its 2023 Executive Long Term Incentive Plan awards. On 29 August 2026, share awards vested at nil cost to chief executive Andrew Thomis and executive director SR Wa...
Regulatory Filings and Compliance
Cohort plc updates market on total voting rights and share capital
Neutral
Sep 1, 2026
Cohort plc has confirmed that as of 31 August 2026 its issued share capital comprises 47,196,046 ordinary shares of 10 pence each, all carrying one vote per share and with no shares held in treasury. The updated share count provides investors with...
Business Operations and StrategyExecutive/Board Changes
Cohort tightens executive incentives with new LTIP grants and corrected share award
Positive
Aug 24, 2026
Cohort plc has granted new nil-cost share awards under its Executive Long Term Incentive Plan to chief executive Andrew Thomis, finance director Simon Walther and chief operating officer Christopher Axcell, with vesting in August 2029 subject to o...
Business Operations and StrategyRegulatory Filings and Compliance
Cohort plc Updates Market on Share Option Plan Utilisation
Positive
Aug 24, 2026
Cohort plc has reported its latest block listing six-monthly return for the Company Share Option Plan, covering the period from 25 February 2026 to 24 August 2026. During this timeframe, the company allotted 194,838 shares under the scheme, reduci...
Regulatory Filings and Compliance
Cohort plc COO Reports Small Share Sale to Cover Award-Related Costs
Neutral
Aug 20, 2026
Cohort plc has disclosed a routine director share transaction involving its Chief Operating Officer, Christopher Axcell, in line with EU Market Abuse Regulation reporting requirements. The move underscores the company’s adherence to governan...
Financial DisclosuresShareholder Meetings
Cohort posts 2026 annual report and sets September AGM
Neutral
Aug 19, 2026
Cohort plc, a defence-focused technology group listed on AIM, has operations across the U.K., Australia, Germany and Portugal and serves naval, military and government customers. Its portfolio spans advanced communications, electronic warfare, sur...
Executive/Board ChangesRegulatory Filings and Compliance
Cohort Discloses Senior Management Share Dealings After Option Exercise and Bonus Award
Neutral
Aug 18, 2026
Cohort plc has reported changes in senior management shareholdings following equity incentive transactions carried out on 14 August 2026. Finance director Simon Walther exercised options over 27,776 shares and sold 24,958 shares to cover exercise ...
Business Operations and StrategyFinancial Disclosures
Cohort’s ELAC SONAR wins €140.7m Saab contract for Polish submarine programme
Positive
Aug 14, 2026
Cohort’s German subsidiary ELAC SONAR has secured a €140.7 million contract from Saab to supply integrated sonar systems for the Polish Orka Submarine Programme. Work begins immediately and deliveries will run into the mid-2030s, stren...
Regulatory Filings and Compliance
Cohort plc Updates Market on Total Voting Rights and Share Capital
Neutral
Jul 31, 2026
Cohort plc has confirmed that, as at 31 July 2026, its issued share capital stands at 47,057,127 ordinary shares of 10 pence each, with each share carrying one voting right. The company reports that it holds no shares in treasury, clarifying that ...
Business Operations and StrategyExecutive/Board Changes
Cohort plc completes final share vesting for senior executives
Positive
Jul 29, 2026
Cohort plc has confirmed the final vesting and transfer of ordinary shares under its 2013 Restricted Share Scheme to key executives. Chief executive Andrew Thomis received 2,184 shares and finance director Simon Walther 1,707 shares on 28 July, le...
Regulatory Filings and Compliance
Cohort plc Reports Director-Related Bed and ISA Share Transaction
Neutral
Jul 17, 2026
Cohort plc has disclosed a director-related share transaction involving Phillippa Walther-Caine, a person closely associated with Finance Director Simon Walther. On 16 July 2026 she executed a Bed and ISA transaction, selling 519 Cohort shares fro...
DividendsFinancial Disclosures
Cohort Sets 2026 Dividend Timetable After Record Year
Positive
Jul 15, 2026
Cohort plc, a defence technology group listed on AIM and headquartered in Reading, operates seven specialist businesses across the UK, Australia, Germany and Portugal. It provides advanced communications, intelligence, sensor and effector solution...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
Cohort plc posts record results and expands firepower for defence-led growth
Positive
Jul 15, 2026
Cohort plc has reported record results for the year to 30 April 2026, with revenue rising 13% to £306.4m and adjusted operating profit up 32% to £36.3m, lifting net margin to 11.8%. Adjusted earnings per share increased 14%, the order in...
Business Operations and StrategyFinancial Disclosures
Cohort to Present Annual Results and Strategy in Live Investor Briefing
Positive
Jul 13, 2026
Cohort plc will host a live investor presentation on the Engage Investor platform on 21 July at 3:00pm BST, led by Chief Executive Andrew Thomis and Finance Director Simon Walther. The session will cover the company’s annual results and outl...
Business Operations and StrategyFinancial Disclosures
Cohort to present full-year results and strategy in open investor webinar
Positive
Jul 10, 2026
Cohort plc will host a live Equity Development webinar on 17 July 2026 at 3pm, where Chief Executive Andrew Thomis and Finance Director Simon Walther will present the company’s full-year results and outline its corporate strategy. The online...
Business Operations and StrategyFinancial Disclosures
Cohort plc sets date for full-year 2026 results
Neutral
Jul 9, 2026
Cohort plc, the defence-focused independent technology group listed on AIM, plans to release its full-year results for the year ended 30 April 2026 on 15 July 2026. Headquartered in Reading and operating through its Communications and Intelligence...
Business Operations and StrategyRegulatory Filings and Compliance
Cohort Confirms Total Voting Rights and Share Capital Structure
Neutral
Jul 1, 2026
Cohort plc, an AIM-quoted defence technology specialist, reported that its issued share capital stood at 47,046,227 ordinary shares of 10 pence each as at 30 June 2026. Each share carries one voting right and the company currently holds no shares ...
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.