EarningsQ4 2025 Earnings Report
MX:ITRKN Q4 2025 EPS Results
Actual EPS$33.94
Consensus EPS$33.94
Beat/MissMet expectations
One Year Ago EPS$32.18
MX:ITRKN Q4 2025 Revenue Results
Actual Revenue$41.14B
Expected Revenue$41.50B
Beat/MissMissed by -$362.50M
YoY Revenue Growth+2.04%
Earnings Announcement Details
QuarterQ4 2025
Date03/03/2026
TimeBefore Open
Conference CallTuesday, March 3, 2026
MX:ITRKN Upcoming Earnings
Intertek's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q4 2025 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q4 2025 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive performance: robust underlying profitability with double-digit EPS growth, margin expansion (+90bps), high ROIC (~21%), accretive M&A and clear medium-term targets (mid-single-digit organic growth, 18.5%+ margin). Key weaknesses include weaker free cash flow versus 2024, FX headwinds, and a material slowdown in the World of Energy (notably Transportation Technology and CEA) which pressured late‑2025 performance and contributed to higher restructuring activity. Management provided confident 2026 guidance and reiterated disciplined capital allocation and M&A focus.Company Guidance
Strong earnings and margin progression
Diluted EPS of 253.5p, up 10.1% at constant currency (5.4% at actual rates); operating margin 18.1%, up 90 basis points year-on-year; operating profit GBP 620m, up 9.3% at constant currency.
Revenue growth and scale
Total revenue GBP 3.4bn, up 4.3% at constant currency (1.1% at actual rates); like-for-like group revenue growth driven by ATIC demand was ~3.9% at constant rates, with core segments (Consumer Products, Corporate Assurance, Health & Safety and Industry Infrastructure) delivering combined like-for-like growth of 5.4%.
Excellent returns and capital allocation
ROIC strong at ~21.3% (3-year average ~21.4% referenced); cash conversion 110%; management invested ~GBP 300m in growth and returned GBP 602m to shareholders (over the year) with a stated medium-term dividend payout target of ~65%.
Consumer Products outperformance
Consumer Products revenue GBP 983m, up 6.2% year-on-year; like-for-like +6.3%; operating profit up 11% to GBP 299m and margin 30.4%, up 250 basis points driven by operating leverage and productivity gains.
Industry Infrastructure strong operational leverage
Industry Infrastructure revenue GBP 858m, up 5.3% (like-for-like +4.7%); operating profit GBP 95m, up 24% with margin improvement of 170 basis points from operating leverage, productivity and portfolio mix.
Corporate Assurance and Health & Safety growth
Corporate Assurance revenue GBP 514m, up 6.8% with operating profit GBP 116m (operating profit +3%); Health & Safety revenue GBP 347m, up 5.5%, with Food achieving double-digit like-for-like growth.
Accretive M&A and targeted bolt-ons
Seven acquisitions in the last three years to strengthen IT/value proposition in high-growth, high-margin sectors; acquisitions delivered an aggregate margin of 34% in 2025. Recent deals include Aerial PV (drone-based solar inspections) and QTEST (Colombia electrical network expansion).
Geographic resilience — China performance
China like-for-like revenue growth 5.4% in 2025 (in line with 3-year like-for-like of 5.6%) with diversified portfolio and scale across business lines.
Clear guidance and ambition for 2026
2026 guidance: mid-single-digit like-for-like revenue growth at group level, further margin progression targeting 18.5%+, expected CapEx GBP 150–160m, net finance costs GBP 71–72m, effective tax rate 25.5–26.5%, and financial net debt guidance GBP 930–980m (before material FX/M&A).
Strategic differentiation — ATIC and AI focus
Reinforced premium ATIC (end-to-end Quality Assurance) differentiation and active AI initiatives (AI assurance product 'AI2', internal AI lab) to drive productivity, enhanced SaaS/data offerings and new client services.
MX:ITRKN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed