Bytes Technology Group Plc (GB:BYIT)
LSE:BYIT
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Bytes Technology Group Plc
(LSE:BYIT)
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Rating:82Outperform
Price Target:
436.00 p
▲(37.63% Upside)
Action:Reiterated
Date:05/13/26
The score is driven primarily by strong underlying financial quality (growth, profitability, and very low leverage) and a highly attractive valuation (low P/E and high dividend yield). Technicals are supportive but tempered by overbought momentum signals that increase near-term pullback risk.
Positive Factors
Conservative balance sheet with very low leverage
Bytes' extremely low absolute debt and debt-to-equity (~0.02) provide durable financial flexibility. This capital structure supports investment in partner relationships, M&A optionality, consistent dividend capacity and resilience through cyclical IT spending, reducing solvency risk over months.
Negative Factors
Volatile free cash flow growth
Year-to-year swings in free cash flow reduce predictability for capital allocation and payouts. Volatility likely reflects working-capital timing and program-incentive variability, making multi-quarter planning and target-setting more uncertain for management and investors.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet with very low leverage
Bytes' extremely low absolute debt and debt-to-equity (~0.02) provide durable financial flexibility. This capital structure supports investment in partner relationships, M&A optionality, consistent dividend capacity and resilience through cyclical IT spending, reducing solvency risk over months.
Read all positive factors
Bytes Technology Group Plc (BYIT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£840.97M
Dividend Yield5.54%
Average Volume (3M)1.00M
Price to Earnings (P/E)16.4
Beta (1Y)0.77
Revenue Growth1.58%
EPS Growth-6.06%
CountryUK
Employees1,245
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.21
Shares Outstanding234,907,990
10 Day Avg. Volume1,159,484
30 Day Avg. Volume1,000,012
Financial Highlights & Ratios
PEG Ratio-1.63
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
£343.75Price Target Upside8.51% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.22
Revenue Forecast (FY)£241.85M
Bytes Technology Group Plc Business Overview & Revenue Model
Company Description
Bytes Technology Group plc operates as a global technology solutions provider, delivering software, IT security, hardware, and cloud-based services across the United Kingdom, Europe, and internationally. The company's diverse product range feature...
How the Company Makes Money
Bytes Technology Group primarily makes money by reselling third-party software and cloud subscriptions and providing related services to help customers select, implement, and manage those technologies. A major component of revenue comes from softw...
Bytes Technology Group Plc Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
73
Positive
| Breakdown | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 220.56M | 217.13M | 207.02M | 184.42M | 145.84M |
| Gross Profit | 164.20M | 163.25M | 145.78M | 149.39M | 123.31M |
| EBITDA | 66.04M | 77.55M | 64.20M | 53.33M | 44.74M |
| Net Income | 51.28M | 54.84M | 46.85M | 40.42M | 32.85M |
Balance Sheet | |||||
| Total Assets | 474.13M | 455.23M | 379.72M | 320.77M | 283.57M |
| Cash, Cash Equivalents and Short-Term Investments | 98.65M | 113.08M | 88.84M | 73.02M | 67.12M |
| Total Debt | 1.98M | 1.94M | 1.74M | 992.00K | 1.18M |
| Total Liabilities | 393.01M | 357.19M | 301.38M | 259.27M | 236.00M |
| Stockholders Equity | 81.12M | 98.04M | 78.34M | 61.50M | 47.57M |
Cash Flow | |||||
| Free Cash Flow | 59.23M | 64.90M | 55.67M | 36.79M | 51.43M |
| Operating Cash Flow | 61.04M | 74.97M | 57.01M | 38.15M | 52.05M |
| Investing Cash Flow | -5.91M | -10.07M | -4.36M | -1.36M | -617.00K |
| Financing Cash Flow | -69.56M | -40.66M | -36.83M | -30.89M | -5.05M |
Bytes Technology Group Plc Technical Analysis
Neutral
316.80
Price Trends
331.12
Positive
317.22
Positive
343.68
Positive
Market Momentum
9.21
Positive
50.30
Neutral
16.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BYIT, the sentiment is Neutral. The current price of 316.8 is below the 20-day moving average (MA) of 365.17, below the 50-day MA of 331.12, and below the 200-day MA of 343.68, indicating a neutral trend. The MACD of 9.21 indicates Positive momentum. The RSI at 50.30 is Neutral, neither overbought nor oversold. The STOCH value of 16.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | £840.97M | 16.41 | 64.69% | 5.54% | 1.58% | -6.06% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £57.62M | -106.77 | -3.99% | ― | 0.46% | -257.14% | |
60 Neutral | £136.67M | 152.59 | 2.17% | ― | 11.02% | -59.83% | |
49 Neutral | £2.01M | 0.43 | ― | ― | ― | ― | |
46 Neutral | £15.07M | -7.02 | -9.36% | ― | -7.45% | 78.23% | |
43 Neutral | £20.16M | -0.33 | -99.34% | 23.79% | 25.44% | -1877.56% |
* Technology Sector Average
GB:BYIT
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-27.46%
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Bytes Technology Group Plc Corporate Events
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels Newly Repurchased Shares in Ongoing Buyback
Positive
Jun 8, 2026
Bytes Technology Group has executed a tranche of its previously announced share repurchase programme, buying back ordinary shares on the London Stock Exchange via Deutsche Bank’s Deutsche Numis arm. The purchases, made between 1 and 5 June 2...
Business Operations and StrategyDelistings and Listing Changes
Bytes Technology Group Seeks Block Listing for Employee Share Plan
Neutral
Jun 4, 2026
Bytes Technology Group has applied to the London Stock Exchange for a block listing of 300,000 ordinary shares of £0.01 each to be admitted to trading on the Main Market, with admission expected on 10 June 2026. The new shares are reserved to...
Regulatory Filings and Compliance
Bytes Technology Group Reports Stable Headroom in Employee Share Schemes
Neutral
Jun 4, 2026
Bytes Technology Group has reported its latest six-month block listing return, detailing movements in shares reserved for its employee incentive schemes. Under the BTG Performance Share Plan, 68,485 ordinary shares of £0.01 each were issued d...
Business Operations and StrategyExecutive/Board Changes
Bytes Technology Ties Executive Share Awards to EPS and TSR Targets
Positive
Jun 2, 2026
Bytes Technology Group has granted performance share plan options to several senior executives, including chief executive Sam Mudd and chief financial officer Andrew Holden, under its 2020 Performance Share Plan. The awards, which run over a three...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 393,570 Shares After Latest Buyback Tranche
Positive
Jun 1, 2026
Bytes Technology Group has continued to execute on its previously announced share repurchase programme, with Deutsche Bank’s Deutsche Numis unit buying a total of 393,570 ordinary shares between 26 and 29 May 2026 at prices broadly in the mi...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Updates Voting Rights After Share Buybacks
Neutral
Jun 1, 2026
Bytes Technology Group plc has updated the market on its capital structure following recent share buybacks under its share repurchase programme announced in May 2026. After the settlement and cancellation of purchased ordinary shares, the company&...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Bytes Technology Group Publishes 2026 Annual Report and Sets AGM Details
Neutral
May 27, 2026
Bytes Technology Group plc has published its 2026 Annual Report and Accounts following the release of its audited results for the year ended 28 February 2026, and made these documents available on its investor website and via the UK Financial Cond...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels Newly Repurchased Shares, Trimming Share Count
Positive
May 26, 2026
Bytes Technology Group has continued executing its previously announced share repurchase programme, mandating Deutsche Bank’s Deutsche Numis unit to buy back ordinary shares on the London market between 18 and 22 May 2026. The purchases, mad...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 249,399 Shares in Ongoing Buyback
Positive
May 18, 2026
Bytes Technology Group has repurchased a total of 249,399 ordinary shares between 13 and 15 May 2026 through Deutsche Bank’s London branch as part of its previously announced buyback programme. The company intends to cancel all these shares,...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsFinancial Disclosures
Bytes Technology Group lifts gross income, boosts services and restructures for AI-driven growth
Positive
May 12, 2026
Bytes Technology Group reported an 11.5% rise in gross invoiced income to £2.34bn for FY26, with services growing faster than software, while revenue and gross profit saw modest gains and operating profit declined 5.6% amid higher investment ...
Business Operations and StrategyStock Buyback
Bytes Technology Launches £25m Share Buyback to Cut Capital and Boost Returns
Positive
May 12, 2026
Bytes Technology Group plc, a specialist in software, security, cloud and AI services across the UK and Ireland, supports customers with technology sourcing and management, and has built a long record of strong financial performance. The group ope...
Business Operations and StrategyExecutive/Board Changes
Bytes Technology Group splits CFO and COO roles as it prepares for next growth phase
Positive
May 12, 2026
Bytes Technology Group has announced a restructuring of its senior leadership, separating the combined roles of Chief Financial Officer and Chief Operating Officer currently held by Andrew Holden. The move is designed to align the board’s ca...
Regulatory Filings and Compliance
Bytes Technology Group Confirms Total Voting Rights at 236.4 Million Shares
Neutral
May 1, 2026
Bytes Technology Group plc has confirmed that its issued share capital consists of 236,370,093 ordinary voting shares of £0.01 each, with no shares held in treasury, resulting in an equal number of total voting rights. This updated share and ...
Regulatory Filings and Compliance
Bytes Technology Group Updates Total Voting Rights and Share Capital
Neutral
May 1, 2026
Bytes Technology Group plc has confirmed that its issued share capital consists of 236,370,093 ordinary voting shares of £0.01 each, with no shares held in treasury, resulting in a total of 236,370,093 voting rights. This updated share capita...
Executive/Board Changes
Bytes Technology Group Notes New External Role for Non-Executive Director
Positive
Apr 16, 2026
Bytes Technology Group plc has announced a change in its board composition, highlighting the external appointment of one of its non-executive directors. The company maintains a dual listing structure, with a primary listing in London and a seconda...
Regulatory Filings and Compliance
Bytes Technology Confirms Total Voting Rights After Share Capital Update
Neutral
Apr 1, 2026
Bytes Technology Group plc has confirmed that its issued share capital consists of 236,370,093 ordinary voting shares of £0.01 each, with no shares held in treasury. This establishes a total of 236,370,093 voting rights, providing the officia...
Executive/Board ChangesRegulatory Filings and Compliance
Bytes Technology Non-Executive Director Takes Additional REIT Board Role
Positive
Mar 26, 2026
Bytes Technology Group plc has announced a board development, disclosing that non-executive director Shruthi Chindalur will join the board of Irish Residential Properties REIT plc as a non-executive director from 28 May 2026. The additional extern...
Business Operations and StrategyFinancial Disclosures
Bytes Technology Group posts solid FY26, outlines sector-focused revamp and AI-led growth plans
Positive
Mar 24, 2026
Bytes Technology Group reported full-year results for the period to 28 February 2026 in line with prior guidance, delivering double-digit gross invoiced income growth, around £167 million in gross profit and approximately £62 million in ...
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.