Bodycote (BOY) AI Stock Analysis

• Market Cap: £1.09B
• Dividend Yield: 3.3%
• Average Volume (3M): 255.24K
• Price to Earnings (P/E): 22.5
• Beta (1Y): 1.64
• Revenue Growth: -6.95%
• EPS Growth: -52.08%
• Country: UK
• Employees: 4,379
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.16
• Shares Outstanding: 172,707,050
• 10 Day Avg. Volume: 316,094
• 30 Day Avg. Volume: 255,238
• PEG Ratio: 0.12
• Price to Book (P/B): 1.93
• Price to Sales (P/S): 1.70
• P/FCF Ratio: 20.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £823.00
• Price Target Upside: 29.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 0.49
• Revenue Forecast (FY): £713.95M

• Rating: 62 Neutral
• Price Target: 654.00 p ▲(3.07% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is driven primarily by mid-tier financial performance: a strong 2025 profitability rebound and a solid balance sheet are tempered by uneven revenue trends and inconsistent free cash flow conversion. Technicals are mildly supportive but not strong due to negative MACD, and valuation looks somewhat demanding despite a decent dividend yield.

Positive Factors

Solid balance sheet

A balance sheet with debt well below equity and only moderate leverage provides durable financial flexibility. This supports investment in service centers, absorbs cyclical downturns in end markets, and preserves the ability to maintain dividends or fund M&A without immediate financing strain.

Negative Factors

Choppy revenue trends

Inconsistent top-line trends reduce visibility into utilization and capacity planning. Revenue volatility tied to cyclical end markets (automotive, oil & gas, aerospace maintenance cycles) can cause swing in fixed-cost absorption and make multi-quarter margin sustainability harder to rely on.

Bodycote Business Overview & Revenue Model

Company Description

Bodycote plc provides heat treatment and thermal processing services worldwide. The company operates in two Aerospace, Defence & Energy; and Automotive & General Industrial segments. It offers heat treatment services, including altering the micros...

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Bodycote plc provides heat treatment and thermal processing services worldwide. The company operates in two Aerospace, Defence & Energy; and Automotive & General Industrial segments. It offers heat treatment services, including altering the micros...

How the Company Makes Money

Bodycote makes money by providing outsourced heat treatment and specialist thermal processing services to manufacturers and their supply chains, earning revenue largely on a fee-for-service basis. Key revenue streams typically include: (1) Heat tr...

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Bodycote makes money by providing outsourced heat treatment and specialist thermal processing services to manufacturers and their supply chains, earning revenue largely on a fee-for-service basis. Key revenue streams typically include: (1) Heat tr...

Bodycote Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	727.10M	757.10M	802.50M	743.60M	615.80M
Gross Profit	280.80M	109.30M	108.10M	269.70M	225.70M
EBITDA	179.80M	124.00M	201.70M	186.60M	167.70M
Net Income	54.90M	20.00M	85.60M	73.70M	59.50M
Balance Sheet
Total Assets	1.05B	1.07B	1.14B	1.17B	1.07B
Cash, Cash Equivalents and Short-Term Investments	25.20M	19.10M	45.20M	37.20M	39.30M
Total Debt	190.80M	150.90M	96.90M	136.60M	156.20M
Total Liabilities	411.70M	397.50M	344.40M	385.70M	384.40M
Stockholders Equity	640.20M	668.10M	790.80M	780.90M	684.70M
Cash Flow
Free Cash Flow	58.90M	82.50M	109.20M	70.10M	87.10M
Operating Cash Flow	135.30M	152.60M	191.60M	137.10M	139.10M
Investing Cash Flow	-56.00M	-112.80M	-71.20M	-62.30M	-104.80M
Financing Cash Flow	-71.00M	-67.60M	-110.20M	-82.80M	-30.30M

Bodycote Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 634.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BOY, the sentiment is Negative. The current price of 634.5 is below the 20-day moving average (MA) of 706.90, below the 50-day MA of 740.74, and below the 200-day MA of 658.84, indicating a bearish trend. The MACD of -33.97 indicates Positive momentum. The RSI at 35.14 is Neutral, neither overbought nor oversold. The STOCH value of 8.45 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:BOY.

Bodycote Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GDWN	71 Outperform	£897.40M	15.43	33.12%	1.01%	24.42%	103.25%
AVG	70 Outperform	£176.33M	10.69	6.13%	1.02%	14.49%	76.33%
CGS	65 Neutral	£98.26M	7.63	3.83%	6.69%	-13.30%	-60.03%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BOY	62 Neutral	£1.09B	22.48	8.58%	3.30%	-6.95%	-52.08%
MGAM	62 Neutral	£529.77M	28.89	8.04%	4.87%	-7.30%	-59.71%
SPX	61 Neutral	£4.88B	30.76	13.86%	2.46%	0.10%	-15.33%

Bodycote Corporate Events