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Chemring
(LSE:CHG)
Chemring (CHG) vs. iShares MSCI United Kingdom ETF (EWC)
Chemring Business Overview & Revenue Model
Chemring Earnings Call Summary
Chemring Financial Statement Overview
| Breakdown | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 497.50M | 510.40M | 472.60M | 401.00M | 393.30M |
| Gross Profit | 497.50M | 510.40M | 472.60M | 401.00M | 393.30M |
| EBITDA | 100.20M | 82.70M | 67.10M | 71.20M | 75.50M |
| Net Income | 48.20M | 39.50M | 5.40M | 47.40M | 41.50M |
Balance Sheet | |||||
| Total Assets | 863.10M | 692.10M | 596.40M | 620.10M | 531.50M |
| Cash, Cash Equivalents and Short-Term Investments | 65.30M | 45.00M | 6.40M | 19.80M | 5.80M |
| Total Debt | 154.30M | 97.70M | 20.70M | 26.90M | 32.30M |
| Total Liabilities | 481.10M | 335.80M | 217.90M | 202.00M | 178.70M |
| Stockholders Equity | 382.00M | 356.30M | 378.50M | 418.10M | 352.80M |
Cash Flow | |||||
| Free Cash Flow | -5.60M | 11.40M | 31.70M | 46.00M | 45.50M |
| Operating Cash Flow | 84.60M | 81.00M | 65.90M | 80.50M | 75.70M |
| Investing Cash Flow | -85.70M | -47.60M | -39.40M | -30.50M | -34.90M |
| Financing Cash Flow | 43.30M | -37.30M | -40.20M | -35.80M | -50.40M |
Chemring Technical Analysis
Chemring Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £2.96B | 5.87 | 5.21% | 1.27% | 0.84% | -62.73% | |
71 Outperform | £64.73B | 24.91 | 17.90% | 1.99% | 11.60% | 8.03% | |
69 Neutral | £597.60M | 24.99 | 13.24% | 1.58% | 23.91% | -14.66% | |
68 Neutral | £6.87B | 9.88 | 46.10% | 0.56% | 7.36% | 48.93% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | £1.44B | 32.18 | 14.44% | 1.64% | -2.53% | 22.25% | |
58 Neutral | £2.66B | 20.00 | ― | 2.00% | -4.59% | -256.51% |
Chemring Corporate Events
Chemring Group has appointed Baroness Kate Rock as an independent non-executive director, effective 1 April 2026, and she will also serve as Senior Independent Director and sit on the Audit, Nomination and Remuneration Committees. The move brings to Chemring a board member with extensive experience across technology, engineering, construction and infrastructure, as well as a strong track record in corporate strategy, government engagement and innovation oversight.
Rock currently chairs Costain Group, where her tenure has coincided with a sharp share price recovery and a return to the FTSE 250, and she is Senior Independent Director at Keller Group with broad committee responsibilities. Chemring’s chair Tony Wood said her expertise in infrastructure and technology will support the group’s organic growth strategy and capacity investments, suggesting her appointment is intended to strengthen governance and bolster Chemring’s strategic positioning in its niche defence and security markets.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £553.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group has confirmed that, as of 28 February 2026, its issued share capital comprises 272,123,407 ordinary shares carrying voting rights and 62,500 cumulative preference shares that generally do not carry voting rights. The updated share count provides investors with the denominator required to assess whether their holdings trigger disclosure obligations under the FCA’s transparency rules, helping maintain regulatory compliance and market transparency for Chemring’s shareholder base.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £569.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC reported that all resolutions put to shareholders at its annual general meeting on 20 February 2026 were approved by poll, with support levels generally above 90% on most items. Approximately 68% of the company’s issued share capital was voted, indicating solid shareholder engagement across both ordinary and special resolutions.
The adoption of all 19 resolutions, including both ordinary and special business, secures continuity for Chemring’s current governance, capital and corporate authorities for the coming year. The broad backing reinforces board proposals and provides management with a clear mandate from investors as the company continues to execute its strategy in the defence and security sector.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £660.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring said its fiscal 2026 outlook remains in line with board expectations despite a slightly slower start to the year, as it reported a record £1.364bn order book and 85% revenue cover from first-quarter revenues and existing contracts. The company continues to benefit from rising defence spending across NATO and allies, though first-quarter order intake fell sharply year on year after a strong prior period of multi-year wins.
Operationally, Chemring is consolidating production at its automated Kilgore Flares facility in the U.S., a move expected to trigger a non-cash impairment but improve efficiency, while also pushing ahead with significant debt-funded investment to expand Energetics capacity. The group highlighted ongoing UK market disruption from delayed defence planning but noted improving order intake, new multi-year countermeasures contracts and progress at Roke, and it confirmed a board transition as its senior independent director steps down with an interim replacement appointed.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £558.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has confirmed that, as of 31 January 2026, its issued share capital comprises 272,122,862 ordinary shares of 1p each carrying voting rights and 62,500 cumulative preference shares that generally carry no voting rights except in limited circumstances. The company noted that the total number of voting ordinary shares will serve as the reference denominator for investors assessing whether they must disclose holdings or changes in their interests under the FCA’s Disclosure and Transparency Rules, reinforcing transparency requirements for Chemring’s shareholder base and supporting regulatory compliance in the UK market.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £550.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC disclosed that board director and PDMR James Mortensen has carried out a reorganisation of his personal shareholding, selling 44,615 ordinary shares and repurchasing the same number of shares into his Individual Savings Account. The transactions, both executed on 22 January 2026 on the London Stock Exchange at average prices of 534.00p and 536.34p respectively, leave Mortensen’s beneficial interest unchanged at 100,702 shares, representing 0.04% of Chemring’s issued share capital, indicating an administrative move rather than a change in overall executive exposure to the stock.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £550.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has published its 2025 Annual Report and Accounts, together with the notice and proxy materials for its 2026 Annual General Meeting, following the release of preliminary results for the year ended 31 October 2025. The AGM will be held on 20 February 2026 at the offices of Investec Bank in London, and all relevant documents are now available on the company’s website and via the UK Financial Conduct Authority’s National Storage Mechanism, underscoring Chemring’s adherence to regulatory disclosure requirements and providing shareholders with the information needed to exercise their governance rights.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £496.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has confirmed that, as of 31 December 2025, its issued share capital comprises 272,118,314 ordinary shares of 1p each with voting rights and 62,500 cumulative preference shares that carry no voting rights except in limited circumstances. The company stated that the total number of voting ordinary shares should be used by investors as the reference figure for calculating whether they are required to disclose holdings or changes in holdings under the UK Financial Conduct Authority’s disclosure and transparency rules, providing clarity for shareholders and the market on Chemring’s current voting rights base.
The most recent analyst rating on (GB:CHG) stock is a Hold with a £496.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the vesting of a performance share plan award for Michael Ord, a director of the company, with 127,868 ordinary shares vested and 60,399 shares sold to cover tax liabilities. This transaction highlights the company’s ongoing commitment to aligning management incentives with shareholder interests and maintaining transparency in executive dealings.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the partial vesting of a conditional share award to James Mortensen, a company director, with 39,832 shares vesting and the remainder lapsing. To cover tax and national insurance liabilities from this vesting, 18,816 shares were sold on his behalf. This transaction highlights the company’s ongoing commitment to transparency in managerial dealings and may impact shareholder perceptions regarding executive compensation practices.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the vesting of 100,249 deferred ordinary shares awarded to Michael Ord, a company director, as part of his annual bonus for the year ended October 2022. The shares were sold, with a portion used to cover tax liabilities, reflecting the company’s ongoing commitment to transparent financial practices and aligning executive compensation with performance outcomes.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced that a portion of a performance share plan award granted to director Sarah Ellard has vested, resulting in the allocation of 65,568 ordinary shares. To cover tax and national insurance liabilities, 30,971 of these shares were sold on the London Stock Exchange. This transaction highlights the company’s ongoing commitment to aligning executive compensation with performance, potentially impacting shareholder perceptions and executive incentives.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the vesting of 42,838 deferred ordinary shares previously granted to director Sarah Ellard as part of her annual bonus for the fiscal year ending October 2022. The shares were sold, with a portion covering tax and national insurance liabilities, reflecting a routine transaction in executive compensation management.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the repurchase of 29,934 ordinary shares at a weighted average price of 471.5565 pence per share as part of its ongoing buyback program. This move is intended to cancel the purchased shares, potentially enhancing shareholder value and optimizing the company’s capital structure.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC, a company involved in the defense and aerospace industry, has announced the repurchase of 60,000 of its ordinary shares through Investec Bank plc. The shares were bought at prices ranging from 460.50 to 474.00 pence, with a weighted average price of 467.8191 pence. The company intends to cancel these shares as part of its ongoing buyback program, initially announced in February 2025. This move is likely aimed at optimizing the company’s capital structure and could potentially enhance shareholder value.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced a correction to a previous statement regarding the issuance of 571,620 Ordinary Shares. The shares are being issued to fulfill part of the deferred consideration for an acquisition completed in December 2022. The new shares will be admitted to the Official List of the FCA and traded on the Main Market of the LSE, with admission expected to be effective on 12 December 2025.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the repurchase of 57,990 of its ordinary shares at a weighted average price of 467.0721 pence per share as part of its ongoing buyback program. This transaction, executed through Investec Bank plc, is part of a strategic effort to optimize the company’s capital structure by canceling the repurchased shares, potentially enhancing shareholder value and signaling confidence in the company’s financial health.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced the granting of a conditional award of 110,769 ordinary shares to Sarah Ellard, a director of the company, under its Long Term Incentive Plan. The shares, which require no consideration for the grant or vesting, will vest after three years contingent on performance conditions and continued service, with an additional two-year holding period post-tax. This move is part of Chemring’s strategy to align management incentives with long-term company performance, potentially impacting its operational focus and stakeholder interests by reinforcing leadership stability and commitment.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced the grant of 15,191 deferred ordinary shares to Sarah Ellard, a director of the company, as part of her annual bonus for the year ending October 2025. This deferred share award, which will vest in three years, reflects Chemring’s commitment to aligning management incentives with shareholder interests and could impact the company’s governance and compensation strategies.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced the grant of a long-term incentive award to Michael Ord, a director of the company. This conditional award involves 219,577 ordinary shares and is part of the Chemring Group Long Term Incentive Plan. The shares will vest on the third anniversary of the grant, contingent on continued service and performance conditions, with an additional two-year holding period post-tax. This move is indicative of Chemring’s strategy to align executive incentives with long-term company performance, potentially impacting stakeholder confidence and company operations positively.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the granting of 36,136 deferred ordinary shares to Michael Ord, a director of the company, as part of his annual bonus for the year ending 31 October 2025. This deferred share award, which will vest in three years, reflects Chemring’s approach to rewarding its leadership while aligning their interests with long-term company performance. The announcement underscores Chemring’s commitment to incentivizing its management team, potentially enhancing its operational effectiveness and market positioning.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced the grant of a conditional award of 152,094 ordinary shares to director James Mortensen under its Long Term Incentive Plan. This award, which requires no consideration for grant or vesting, will vest after three years subject to performance conditions and includes a two-year holding period post-vesting, reflecting the company’s commitment to aligning management incentives with long-term performance.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced the grant of 41,717 deferred ordinary shares to James Mortensen, a director of the company, as part of his annual bonus for the year ended 31 October 2025. This deferred share award, which will vest in three years, reflects the company’s strategy to align executive compensation with long-term performance and shareholder interests.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has announced the repurchase of 59,552 of its ordinary shares at a weighted average price of 468.8170 pence per share, as part of its ongoing buyback program initiated in February 2025. The company plans to cancel the purchased shares, which could potentially enhance shareholder value by reducing the number of shares outstanding and improving earnings per share.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has applied for a block listing of 571,620 Ordinary Shares on the London Stock Exchange to satisfy part of the deferred consideration for an acquisition completed in December 2022. This move is expected to enhance the company’s financial flexibility and strengthen its market position by integrating the acquired assets effectively.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC announced that Pete Raby, a director of the company, has purchased 6,000 ordinary shares at an average price of 468.25p per share. This transaction, conducted on the London Stock Exchange, reflects insider confidence in the company’s market position and potential future performance.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £640.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC, a company involved in the defense and security industry, has announced a share buyback transaction. On December 8, 2025, the company purchased 59,718 of its ordinary shares at a weighted average price of 480.5062 pence per share. The shares will be canceled as part of a buyback program initiated earlier in the year, which may impact the company’s share value and investor perception by reducing the number of shares in circulation.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £600.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC reported a resilient performance for the year ending October 31, 2025, with a 2% revenue growth and a record order book, despite short-term delays in UK Government spending affecting its Sensors & Information segment. The company’s strong momentum in Countermeasures & Energetics, improved cash conversion, and strategic acquisition of Landguard Systems are expected to enhance growth, positioning Chemring well to capitalize on increased defence spending driven by geopolitical uncertainties. The company’s outlook remains robust, with expectations to double annual revenue to approximately £1 billion by 2030.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £600.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.
Chemring Group PLC has repurchased 59,443 of its ordinary shares at a weighted average price of 478.3106 pence per share as part of its ongoing buyback program. This move, which involves canceling the purchased shares, is part of a strategy to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:CHG) stock is a Buy with a £600.00 price target. To see the full list of analyst forecasts on Chemring stock, see the GB:CHG Stock Forecast page.