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Bodycote PLC (GB:BOY)
LSE:BOY

Bodycote (BOY) AI Stock Analysis

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Bodycote

(LSE:BOY)

64Neutral
Bodycote's overall stock score reflects a cautious outlook, influenced by strong cash flow and strategic share buybacks. However, financial pressures from declining profitability and increased leverage are concerns. Technical analysis shows bearish trends, and valuation metrics indicate potential overvaluation. While the dividend yield provides some support, investors should be aware of the balance between risks and potential returns.
Positive Factors
Financial Performance
Bodycote's FY24 Prelims are better than analyst expectations across the P&L, and year-end debt was materially better than expected.
Strategic Growth
The new strategy focuses on delivering a sustainable improvement in the quality, performance, and growth outlook for the group.
Negative Factors
Market Conditions
The end market/macro backdrop is mixed, and FY25 consensus EBITA forecasts will likely move lower.

Bodycote (BOY) vs. S&P 500 (SPY)

Bodycote Business Overview & Revenue Model

Company DescriptionBodycote (BOY) is a leading provider of heat treatment and thermal processing services, operating primarily in the aerospace, automotive, and energy sectors. The company offers a range of services, including heat treatment, metal joining, and surface technology, which are crucial for enhancing the properties and performance of metals and alloys. Bodycote's expertise in these areas supports the manufacturing processes of its clients by improving material durability, strength, and resistance to wear and corrosion.
How the Company Makes MoneyBodycote makes money by providing specialized thermal processing services to a diverse range of industries, including aerospace, automotive, and energy. Its revenue model is primarily service-based, charging clients for each treatment or process applied to their materials. Key revenue streams include heat treatment services, which involve altering the physical and sometimes chemical properties of materials to improve their performance, and surface technology services, which enhance material surfaces for better durability and functionality. Additionally, Bodycote generates income from metal joining services, which are crucial for creating strong, high-quality joints in metal components. The company benefits from long-term contracts and partnerships with major manufacturers in its core sectors, providing a stable and recurring source of income. Factors such as technological advancements, a broad geographic footprint, and a diverse customer base contribute significantly to Bodycote's earnings.

Bodycote Financial Statement Overview

Summary
Income Statement
Balance Sheet
Cash Flow
Breakdown
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income StatementTotal Revenue
802.50M743.60M615.80M598.00M719.70M
Gross Profit
108.10M269.70M225.70M186.90M261.00M
EBIT
119.20M94.90M80.20M57.70M116.40M
EBITDA
201.70M186.60M167.70M97.00M212.70M
Net Income Common Stockholders
85.60M73.70M59.50M400.00K93.80M
Balance SheetCash, Cash Equivalents and Short-Term Investments
45.20M37.20M39.30M30.70M22.00M
Total Assets
1.14B1.17B1.07B1.11B1.03B
Total Debt
96.90M136.60M156.20M128.80M80.50M
Net Debt
51.70M99.40M116.90M98.10M58.50M
Total Liabilities
344.40M385.70M384.40M428.60M321.30M
Stockholders Equity
790.80M780.90M684.70M680.50M705.00M
Cash FlowFree Cash Flow
109.20M70.10M87.10M74.50M94.10M
Operating Cash Flow
191.60M137.10M139.10M134.40M172.80M
Investing Cash Flow
-71.20M-62.30M-104.80M-124.70M-90.40M
Financing Cash Flow
-110.20M-76.60M-24.80M-1.30M-97.60M

Bodycote Technical Analysis

Technical Analysis Sentiment
Positive
Last Price487.00
Price Trends
50DMA
545.23
Negative
100DMA
582.57
Negative
200DMA
586.96
Negative
Market Momentum
MACD
-19.67
Negative
RSI
47.11
Neutral
STOCH
63.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BOY, the sentiment is Positive. The current price of 487 is above the 20-day moving average (MA) of 470.57, below the 50-day MA of 545.23, and below the 200-day MA of 586.96, indicating a neutral trend. The MACD of -19.67 indicates Negative momentum. The RSI at 47.11 is Neutral, neither overbought nor oversold. The STOCH value of 63.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BOY.

Bodycote Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
£2.15B4.4221.80%5.97%-15.51%200.70%
67
Neutral
£4.19B26.426.84%3.69%-3.92%-7.30%
65
Neutral
£543.45M10.9714.06%6.15%-1.26%6.56%
GBBOY
64
Neutral
£864.68M45.302.74%4.81%-5.66%-76.42%
63
Neutral
$4.21B11.555.28%250.72%4.13%-9.42%
GBVCT
63
Neutral
£742.78M43.173.58%7.17%-5.21%-72.13%
GBCAR
58
Neutral
£25.37M―-44.37%―-8.33%74.38%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:BOY
Bodycote
487.00
-177.54
-26.72%
GB:CAR
Carclo plc
34.55
22.65
190.34%
GB:CRDA
Croda International
3,000.00
-1,577.58
-34.46%
GB:VCT
Victrex
854.00
-351.75
-29.17%
GB:MGAM
Morgan Advanced Materials
194.00
-102.48
-34.57%
GB:JMAT
Johnson Matthey
1,306.00
-412.84
-24.02%

Bodycote Corporate Events

Stock BuybackBusiness Operations and Strategy
Bodycote Enhances Shareholder Value with Continued Share Buyback
Positive
May 2, 2025

Bodycote plc announced the continuation of its share buyback programme, purchasing 37,485 ordinary shares at an average price of 482.8736 pence per share. This move is part of an extended programme aimed at reducing the number of shares in circulation, thereby potentially increasing the value of remaining shares and enhancing shareholder value. Following this transaction, Bodycote has a total of 179,142,288 ordinary shares in issue, with no shares held in treasury. This strategic financial maneuver is expected to strengthen Bodycote’s market position and demonstrate its commitment to returning value to shareholders.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score reflects a cautious outlook. The company’s strong cash flow and strategic share buyback program are positive aspects. However, financial pressures from declining profitability and increased leverage, along with bearish technical indicators, weigh on the score. High P/E ratio suggests potential overvaluation, mitigated by a solid dividend yield.

To see Spark’s full report on GB:BOY stock, click here.

Stock BuybackBusiness Operations and Strategy
Bodycote Expands Share Buyback Programme with Latest Purchase
Neutral
May 1, 2025

Bodycote plc has announced the purchase and cancellation of 177,715 of its ordinary shares as part of its extended share buyback programme. This move is part of a broader strategy to manage the company’s capital structure, having acquired a total of 12,276,399 shares since March 2024, which may impact shareholder value and market perception.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score reflects a cautious outlook. The company’s strong cash flow and strategic share buyback program are positive aspects. However, financial pressures from declining profitability and increased leverage, along with bearish technical indicators, weigh on the score. High P/E ratio suggests potential overvaluation, mitigated by a solid dividend yield.

To see Spark’s full report on GB:BOY stock, click here.

Executive/Board ChangesBusiness Operations and Strategy
Bodycote CFO Exercises Incentive Plan Shares
Neutral
Apr 29, 2025

Bodycote PLC announced that its Chief Financial Officer, Ben Fidler, has exercised shares under the Bodycote Incentive Plan. A total of 63,906 shares were exercised, with 29,835 shares sold to cover tax liabilities and 34,071 shares retained. This transaction reflects the company’s ongoing commitment to aligning executive interests with shareholder value, potentially impacting its market positioning and stakeholder confidence.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score reflects a cautious outlook. The company’s strong cash flow and strategic share buyback program are positive aspects. However, financial pressures from declining profitability and increased leverage, along with bearish technical indicators, weigh on the score. High P/E ratio suggests potential overvaluation, mitigated by a solid dividend yield.

To see Spark’s full report on GB:BOY stock, click here.

Business Operations and Strategy
Bodycote CEO Exercises Incentive Plan Shares
Neutral
Apr 29, 2025

Bodycote PLC announced that its CEO, Jim Fairbairn, exercised shares from the Bodycote Incentive Plan granted in 2024. The transaction involved exercising 94,139 shares, with 43,949 sold to cover tax liabilities and 50,190 retained, highlighting a strategic financial decision by the company’s leadership.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score reflects a cautious outlook. The company’s strong cash flow and strategic share buyback program are positive aspects. However, financial pressures from declining profitability and increased leverage, along with bearish technical indicators, weigh on the score. High P/E ratio suggests potential overvaluation, mitigated by a solid dividend yield.

To see Spark’s full report on GB:BOY stock, click here.

Business Operations and StrategyFinancial Disclosures
Bodycote Announces 2025 Incentive Plan Targets
Positive
Apr 17, 2025

Bodycote plc has announced the performance targets for its Bodycote Incentive Plan (BIP) for 2025, following the release of its 2024 Annual Report. The targets include metrics for Return on Capital Employed, Earnings Per Share growth, and CO2 emissions reduction, reflecting the company’s commitment to financial performance and sustainability goals. These measures are expected to align with Bodycote’s strategic objectives and enhance its market position, potentially impacting shareholder value and environmental performance.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote faces financial pressures with declining profitability and increased leverage, but maintains strong cash flow. Technical indicators suggest bearish momentum, impacting short-term performance. The stock’s high P/E ratio indicates potential overvaluation, though the dividend yield and share buyback program provide positive offsets. The overall stock score reflects these mixed factors, suggesting a cautious outlook.

To see Spark’s full report on GB:BOY stock, click here.

Shareholder MeetingsFinancial DisclosuresRegulatory Filings and Compliance
Bodycote Releases 2024 Annual Report and AGM Notice
Neutral
Apr 15, 2025

Bodycote plc has released its 2024 Annual Report and Accounts along with the notice for the 2025 Annual General Meeting. These documents are available for inspection on the National Storage Mechanism and the company’s website. The announcement underscores Bodycote’s commitment to transparency and regulatory compliance, potentially impacting investor confidence and stakeholder engagement.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score is moderate. The company faces financial pressures with declining profitability and increased leverage, yet maintains strong cash flow. The technical indicators suggest bearish momentum, which could affect near-term performance. While the P/E ratio indicates potential overvaluation, the dividend yield and strategic share buyback efforts provide positive offsets. Investors should monitor for improvements in financial performance and market trends.

To see Spark’s full report on GB:BOY stock, click here.

Stock BuybackBusiness Operations and Strategy
Bodycote Extends Share Buyback Programme with Recent Purchase
Positive
Apr 15, 2025

Bodycote plc has announced the purchase of 43,776 of its own ordinary shares as part of its extended share buyback programme, with the intention to cancel these shares. This move is part of a broader strategy to manage the company’s capital structure and enhance shareholder value, reflecting confidence in its financial position and future prospects.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score is moderate. The company faces financial pressures with declining profitability and increased leverage, yet maintains strong cash flow. The technical indicators suggest bearish momentum, which could affect near-term performance. While the P/E ratio indicates potential overvaluation, the dividend yield and strategic share buyback efforts provide positive offsets. Investors should monitor for improvements in financial performance and market trends.

To see Spark’s full report on GB:BOY stock, click here.

Stock Buyback
Bodycote Extends Share Buyback Programme, Cancels Additional Shares
Positive
Apr 14, 2025

Bodycote plc has announced a continuation of its share buyback programme, purchasing 43,525 of its ordinary shares at prices ranging from 455.4p to 482.2p per share. This move is part of an extended programme that began in December 2024, with the company having bought a total of 11,796,983 shares since March 2024. The purchased shares will be canceled, reducing the total number of shares in issue to 179,659,189, which could potentially enhance shareholder value by increasing earnings per share.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s overall stock score reflects a moderate position. The company faces financial pressures with declining profitability and increased leverage, yet maintains strong cash flow. Technical indicators suggest bearish momentum. While the P/E ratio indicates potential overvaluation, the dividend yield and strategic share buyback efforts provide some positive offsets.

To see Spark’s full report on GB:BOY stock, click here.

Stock BuybackBusiness Operations and Strategy
Bodycote Enhances Shareholder Value with Continued Buyback Initiative
Positive
Apr 11, 2025

Bodycote plc has announced the purchase of 44,761 of its ordinary shares as part of its extended share buyback program. This move, which is part of a larger strategy that has seen the company repurchase over 11 million shares since March 2024, aims to reduce the number of shares in circulation, potentially enhancing shareholder value and reflecting confidence in the company’s financial health.

Spark’s Take on GB:BOY Stock

According to Spark, TipRanks’ AI Analyst, GB:BOY is a Neutral.

Bodycote’s stock score is moderate, reflecting mixed financial performance and technical weakness. The strong cash flow and strategic buyback program are positive factors, but increased leverage and declining profitability pose risks. Additionally, the stock’s high P/E ratio indicates possible overvaluation, which could be a concern for investors.

To see Spark’s full report on GB:BOY stock, click here.

Business Operations and StrategyRegulatory Filings and Compliance
Goldman Sachs Increases Stake in Bodycote PLC
Neutral
Apr 7, 2025

Bodycote PLC has announced a change in the breakdown of its voting rights, with The Goldman Sachs Group, Inc. now holding an 8.001455% stake in the company. This adjustment in voting rights, as reported on April 4, 2025, reflects a slight increase from the previous position and may influence the company’s strategic decisions and stakeholder dynamics.

Stock Buyback
Bodycote Enhances Shareholder Value Through Continued Share Buyback
Positive
Apr 7, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 40,000 ordinary shares at prices ranging from 481.4p to 520.5p per share. This move is part of an extended program initiated in December 2024, aiming to enhance shareholder value by reducing the number of shares in circulation, thereby increasing the value of remaining shares. The company has purchased a total of 11,576,307 shares since March 2024, reflecting its commitment to returning capital to shareholders.

Stock Buyback
Bodycote Continues Share Buyback Program to Enhance Shareholder Value
Positive
Apr 2, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 32,419 ordinary shares at an average price of 560.4150 pence per share. This move is part of an extended program initiated in December 2024, with the company having bought a total of 11,466,307 ordinary shares since March 2024. The cancellation of these shares will reduce the total number of shares in issue to 179,989,865, potentially increasing shareholder value and consolidating the company’s market position.

Stock BuybackBusiness Operations and Strategy
Bodycote Expands Share Buyback Programme with Latest Purchase
Positive
Apr 1, 2025

Bodycote plc has announced the purchase of 35,000 of its ordinary shares as part of its extended share buyback programme, with plans to cancel these shares. This move is part of a broader strategy to manage its capital structure, having repurchased a total of 11,433,888 shares since March 2024, reflecting the company’s commitment to enhancing shareholder value.

Stock BuybackBusiness Operations and Strategy
Bodycote Advances Share Buyback Program with Recent Purchases
Positive
Mar 27, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 32,358 ordinary shares at a volume-weighted average price of 572.3309 pence per share. This move is part of the extended program initiated in December 2024, and the company intends to cancel these shares, reducing the total number of shares in issue to 180,107,323. This strategic action reflects Bodycote’s commitment to optimizing its capital structure and potentially enhancing shareholder value.

Stock BuybackBusiness Operations and Strategy
Bodycote Continues Share Buyback Program to Optimize Capital Structure
Positive
Mar 26, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 25,711 ordinary shares through HSBC Bank PLC as part of an extended initiative. This strategic move, which involves canceling the acquired shares, aims to optimize the company’s capital structure and potentially enhance shareholder value by reducing the number of shares in circulation.

Stock Buyback
Bodycote Extends Share Buyback Program, Cancels Additional Shares
Positive
Mar 25, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 21,402 of its ordinary shares at an average price of 567.7881 pence per share. This move is part of an extended program that began in December 2024, with the company having acquired a total of 11,290,780 shares since March 2024. The cancellation of these shares will reduce the total number of shares in issue, potentially increasing the value of remaining shares and demonstrating the company’s commitment to returning value to shareholders.

Stock Buyback
Bodycote plc Continues Share Buyback Program
Positive
Mar 24, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 30,588 ordinary shares at prices ranging from 557.0p to 571.0p per share. This move is part of an extended program that began in December 2024, with the company having acquired a total of 11,269,378 shares since March 2024. The cancellation of these shares will reduce the total number of shares in issue, potentially increasing the value for remaining shareholders.

Business Operations and StrategyRegulatory Filings and Compliance
Goldman Sachs Increases Stake in Bodycote PLC
Neutral
Mar 21, 2025

Bodycote PLC, a UK-based company, has experienced a change in the voting rights distribution as reported by The Goldman Sachs Group, Inc. The notification indicates that Goldman Sachs now holds a total of 8.000080% of voting rights in Bodycote, up from a previous position of 7.158152%. This change signifies a notable increase in Goldman Sachs’ influence within the company, potentially impacting Bodycote’s strategic decisions and stakeholder dynamics.

Stock BuybackBusiness Operations and Strategy
Bodycote Continues Share Buyback Program to Optimize Capital Structure
Positive
Mar 14, 2025

Bodycote plc has announced the continuation of its share buyback program, purchasing 43,875 of its ordinary shares through HSBC Bank PLC. This move is part of an extended program that has seen the company buy back a total of 11,024,355 shares since March 2024. The company intends to cancel the purchased shares, which will affect the total number of voting rights, now standing at 180,431,817 shares. This strategic financial maneuver is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value.

Stock BuybackBusiness Operations and Strategy
Bodycote Enhances Shareholder Value with Continued Buyback Programme
Positive
Mar 12, 2025

Bodycote plc has announced the purchase of 63,017 of its ordinary shares as part of an extended share buyback programme, with the intention to cancel these shares. This move is part of a larger strategy, having bought a total of 10,915,782 shares since March 2024, aimed at optimizing the company’s capital structure and potentially enhancing shareholder value.

Stock Buyback
Bodycote Extends Share Buyback Programme with Latest Purchase
Positive
Mar 3, 2025

Bodycote plc has announced the purchase of 42,979 of its ordinary shares as part of its extended share buyback programme. This move, which involves canceling the purchased shares, reduces the total number of shares in issue to 180,999,119, potentially increasing shareholder value and demonstrating confidence in the company’s financial health.

Business Operations and Strategy
Bodycote Announces New Divisional Reporting Structure to Drive Growth
Positive
Feb 21, 2025

Bodycote has announced a new divisional reporting structure, effective for its 2024 results, which reorganizes its operations into two main technology-focused divisions: Specialist Technologies and Precision Heat Treatment. This strategic change aims to optimize operations, enhance margins, and expand market reach by focusing on high-quality and technology-driven services, with an interim non-core division to aid in the transition.

Stock BuybackBusiness Operations and Strategy
Bodycote Continues Share Buyback Programme to Enhance Shareholder Value
Positive
Feb 17, 2025

Bodycote plc announced the continuation of its share buyback programme, purchasing 41,308 ordinary shares at prices ranging from 664.0p to 673.0p per share. This move, part of an extended programme that commenced in December 2024, reflects Bodycote’s strategy to manage its capital structure and return value to shareholders, potentially impacting its market positioning by reducing the number of shares in circulation.

Stock BuybackBusiness Operations and Strategy
Bodycote Continues Share Buyback Program with Latest Purchase
Positive
Feb 14, 2025

Bodycote plc announced the purchase of 60,431 of its ordinary shares as part of its extended share buyback program. The company intends to cancel these shares, reducing the total number of shares in issue to 181,530,845, which reflects the total number of voting rights. This move is part of a broader strategy that has seen Bodycote buy back a total of 9,925,327 shares since March 2024, potentially enhancing shareholder value and signaling confidence in its financial stability.

Stock Buyback
Bodycote Continues Share Buyback Program
Positive
Feb 12, 2025

Bodycote plc, a company specializing in thermal processing services, has announced the continuation of its share buyback program. On February 11, 2025, the company purchased 54,714 ordinary shares, which will be canceled, reducing the total number of shares in circulation to 181,664,946. This move is part of an extended share buyback program that began in March 2024, through which Bodycote has acquired a total of 9,791,226 ordinary shares. The cancellation of shares is intended to enhance shareholder value by reducing the number of shares available in the market.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.