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Bytes Technology Group Plc
(LSE:BYIT)
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Rating:82Outperform
Price Target:
487.00 p
▲(17.01% 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
Bytes' extremely low debt and rising asset base provide durable financial flexibility. Low leverage reduces refinancing and interest-rate risk, supports steady dividends or bolt-on M&A, and preserves downside protection in cyclical IT spending environments, strengthening long-term resilience.
Negative Factors
Volatile free cash flow growth
Material year-to-year swings in free cash flow reduce predictability of internal funding and complicate capital allocation. Sharp FCF contraction in 2026 suggests working-capital timing or uneven collections, which can constrain consistent dividend/repurchase policy or opportunistic M&A.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Bytes' extremely low debt and rising asset base provide durable financial flexibility. Low leverage reduces refinancing and interest-rate risk, supports steady dividends or bolt-on M&A, and preserves downside protection in cyclical IT spending environments, strengthening long-term resilience.
Read all positive factors
Bytes Technology Group Plc (BYIT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£932.07M
Dividend Yield2.54%
Average Volume (3M)1.00M
Price to Earnings (P/E)18.7
Beta (1Y)0.73
Revenue Growth1.58%
EPS Growth-6.06%
CountryUK
Employees1,331
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.21
Shares Outstanding232,553,120
10 Day Avg. Volume1,159,484
30 Day Avg. Volume1,000,012
Financial Highlights & Ratios
PEG Ratio-1.66
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
£371.25Price Target Upside-10.80% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.22
Revenue Forecast (FY)£239.71M
Bytes Technology Group Plc Business Overview & Revenue Model
Company Description
Bytes Technology Group Plc engages in the provision of IT software offerings and solutions. operates through the following segments: Software, IT Services, and Hardware. The Software segment sells cloud software. The IT services segment includes I...
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
Positive
416.20
Price Trends
386.76
Positive
345.75
Positive
338.90
Positive
Market Momentum
7.10
Positive
64.25
Neutral
72.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BYIT, the sentiment is Positive. The current price of 416.2 is above the 20-day moving average (MA) of 412.11, above the 50-day MA of 386.76, and above the 200-day MA of 338.90, indicating a bullish trend. The MACD of 7.10 indicates Positive momentum. The RSI at 64.25 is Neutral, neither overbought nor oversold. The STOCH value of 72.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | £932.07M | 18.75 | 64.69% | 2.45% | 1.58% | -6.06% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | £144.52M | 151.08 | 2.17% | ― | 11.02% | -59.83% | |
57 Neutral | £42.25M | -85.57 | -3.99% | ― | 0.46% | -257.14% | |
54 Neutral | £25.54M | -13.80 | -8.35% | ― | 7.66% | 8.68% | |
44 Neutral | £13.80M | -1.50 | -16.28% | ― | 7.96% | 83.46% | |
43 Neutral | £1.73M | 6.17 | 58.02% | ― | ― | ― |
* Technology Sector Average
GB:BYIT
Bytes Technology Group Plc
417.80
57.02
15.80%
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Bytes Technology Group Plc Corporate Events
Regulatory Filings and Compliance
Bytes Technology CFO Reports Minor Share Sale to Cover Broker Fees
Neutral
Aug 5, 2026
Bytes Technology Group plc has disclosed a small share transaction involving its Chief Financial Officer, Andrew Holden, in line with Article 19 of the UK Market Abuse Regulation. The transaction consisted of an automatic on-market sale of 23 ordi...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 420,000 Shares in Latest Buyback Tranche
Positive
Aug 3, 2026
Bytes Technology Group has continued its previously announced share repurchase programme, mandating Peel Hunt to buy back 420,000 ordinary shares between 27 and 31 July 2026 at prices around 400p per share. The company says all shares bought in th...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Updates Share Capital and Voting Rights After Buyback
Neutral
Aug 3, 2026
Bytes Technology Group plc has updated investors on its capital structure, confirming that following recent share repurchases and cancellations under its ongoing buyback programme, its issued share capital now comprises 232,133,114 ordinary shares...
Executive/Board ChangesRegulatory Filings and Compliance
Bytes Technology Director Ross Paterson Takes Audit Chair Role at Vp plc
Neutral
Jul 30, 2026
Bytes Technology Group plc has announced that independent non-executive director Ross Paterson will take on an additional role at Vp plc, becoming an independent non-executive director and chair of its audit committee from 1 September 2026. The ap...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels Shares After Latest Buyback Tranche
Positive
Jul 27, 2026
Bytes Technology Group plc has continued to execute its previously announced share repurchase programme, with Peel Hunt LLP buying ordinary shares on its behalf between 22 and 24 July 2026 at prices between 414.00p and 420.00p per share. The compa...
Regulatory Filings and Compliance
Bytes Technology Executives Boost Shareholdings in On-Market Purchases
Positive
Jul 14, 2026
Bytes Technology Group plc has disclosed that its chief executive officer, Sam Mudd, and independent non-executive director, Gavin Rochussen, have both increased their holdings in the company through on-market purchases of ordinary shares on 13 Ju...
DividendsShareholder Meetings
Bytes Technology Group Sets Rand Dividend for South African Shareholders
Positive
Jul 13, 2026
Bytes Technology Group plc, a U.K.-based technology services firm with primary London and secondary Johannesburg listings, operates a dual-register structure that requires careful handling of dividend payments in different currencies. The group...
Business Operations and StrategyStock Buyback
Bytes Technology Group Cancels 275,000 Shares in Latest Buyback Tranche
Positive
Jul 13, 2026
Bytes Technology Group plc has continued executing its previously announced share repurchase programme, with broker Peel Hunt buying back 275,000 ordinary shares between 6 and 8 July 2026 at prices around 395–400 pence. The company plans to ...
Stock BuybackDividendsShareholder Meetings
Bytes Technology AGM backs core resolutions but rejects new share issuance powers
Neutral
Jul 9, 2026
Bytes Technology Group plc reported that shareholders approved the vast majority of resolutions at its 9 July 2026 Annual General Meeting, including the receipt of the 2026 Annual Report and Accounts, the directors’ remuneration report, the ...
Business Operations and StrategyFinancial Disclosures
Bytes Technology Group posts strong early-year growth as it pushes for greater market share
Positive
Jul 9, 2026
Bytes Technology Group reported that trading in the first four months of its financial year was strong, with double-digit year-on-year growth in gross invoiced income and gross profit across both private and public sector customers, while operatin...
Business Operations and StrategyStock Buyback
Bytes Technology Group Continues Share Buyback, Reduces Share Count
Positive
Jul 6, 2026
Bytes Technology Group plc has continued executing its previously announced share repurchase programme, with Deutsche Bank AG’s London branch buying a series of ordinary shares on its behalf between 29 June and 3 July 2026. The purchases, to...
Stock BuybackRegulatory Filings and Compliance
Bytes Technology Updates Voting Rights After Share Buyback
Neutral
Jul 1, 2026
Bytes Technology Group plc has updated its capital structure following the execution of a share repurchase programme, confirming that its issued share capital now comprises 233,145,616 ordinary voting shares of £0.01 each. The company holds n...
Business Operations and StrategyExecutive/Board Changes
Bytes Technology Group names new chair-designate as long-serving chair plans retirement
Positive
Jul 1, 2026
Bytes Technology Group plc, a prominent UK and Ireland software, security, AI and cloud services provider with listings in London and Johannesburg, has announced a planned change in board leadership as it continues to execute its growth strategy. ...
Business Operations and StrategyStock Buyback
Bytes Technology Cancels Newly Repurchased Shares, Tightening Free Float
Positive
Jun 29, 2026
Bytes Technology Group plc has continued executing its previously announced share buyback programme, with Deutsche Bank’s London branch (trading as Deutsche Numis) repurchasing a series of ordinary shares between 22 and 26 June 2026 at volum...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Bytes Technology Cancels Further Shares as Buyback Shrinks Equity Base
Positive
Jun 22, 2026
Bytes Technology Group has continued executing its previously announced share repurchase programme, with Deutsche Bank’s London branch buying back 525,000 ordinary shares between 15 and 19 June 2026 at volume-weighted average prices in the m...
Stock BuybackFinancial Disclosures
Bytes Technology Group Cancels 575,000 Shares After Buyback
Positive
Jun 15, 2026
Bytes Technology Group plc has repurchased 575,000 of its own ordinary shares between 8 and 12 June 2026 through Deutsche Bank’s Deutsche Numis unit, as part of a previously announced buyback programme. The company intends to cancel all of t...
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...
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.