Cohort plc (CHRT) AI Stock Analysis

• Market Cap: £621.50M
• Dividend Yield: 1.58%
• Average Volume (3M): 178.03K
• Price to Earnings (P/E): 25.0
• Beta (1Y): 0.77
• Revenue Growth: 23.91%
• EPS Growth: -14.66%
• Country: UK
• Employees: 1,400
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 0.16
• Shares Outstanding: 46,994,682
• 10 Day Avg. Volume: 200,080
• 30 Day Avg. Volume: 178,030
• PEG Ratio: 1.65
• Price to Book (P/B): 3.69
• Price to Sales (P/S): 2.17
• P/FCF Ratio: 15.40
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.6
• Revenue Forecast (FY): £291.57M

• Rating: 74 Outperform
• Price Target: 1,572.00 p ▲(65.65% Upside)
• Action: Upgraded Date: 03/14/26
• Date: Action: Upgraded 03/14/26

The score is driven primarily by strong financial performance (high revenue growth and a solid, conservatively leveraged balance sheet). Technicals are supportive due to trend strength and positive MACD, but overextended RSI/Stoch readings add near-term risk. Valuation is a drag given the higher P/E and modest dividend yield.

Positive Factors

Revenue Growth

Nearly 19.24% top-line growth demonstrates durable demand for Cohort’s defence systems and services. Growth driven by contracted programmes and through-life support improves multi-year revenue visibility, strengthens backlog dynamics, and underpins long-term investment and capacity planning.

Conservative Leverage

A conservative debt-to-equity of 0.50 and a 40% equity ratio combined with a 12.14% ROE indicate a resilient capital structure. This enhances financial flexibility to fund programme bids, absorb contract timing risks, and pursue selective M&A without compromising solvency over business cycles.

Strong Operating Cash Generation

Operating cash flow at 2.66x net income and positive free-cash-flow growth show the business converts contracted work into cash reliably. Sustained OCF supports reinvestment in R&D, funds through-life support obligations, and provides flexibility to manage working capital across multi-year defence programmes.

Negative Factors

Pressure on Operating Margins

Reported weakening of EBIT/EBITDA margins and a modest drop in gross margin point to structural cost pressures or tougher pricing. If persistent, margin erosion can reduce the profitability benefit of revenue growth and require sustained efficiency improvements or a shift to higher-margin contract mix.

Suboptimal FCF Conversion

A FCF-to-net-income ratio of 0.74 shows a significant gap between accounting profit and cash available after investments. Lower FCF conversion limits internal funding for capex, dividends or acquisitions, increasing reliance on external financing when pursuing strategic investments or during project working-capital peaks.

EPS Contraction

A negative EPS growth rate (-14.66%) implies the company has struggled to translate revenue growth into per-share earnings. Structural causes—margin compression, higher costs, or project phasing—could persist and weaken shareholder returns and constrain capital-allocation options until profitability per share stabilises.

Cohort plc Business Overview & Revenue Model

Company Description

Cohort plc, through its subsidiaries, provides various products and services in defense and security markets in the United Kingdom, Germany, Portugal, Africa, North and South America, and other European countries. The company offers electro-optical and electro-mechanical systems, such as command, control, communications, computers, intelligence, surveillance, target acquisition, and reconnaissance, as well as combat systems; and communications systems. It also provides integrated command, control, and communications systems for warships and submarines; tactical radio, vehicle intercoms, field communications, and networking software and equipment; electronic warfare operational support, managed, secure communications, cyber security, and training support services; and electronic and surveillance technology services. In addition, the company offers training and simulation; digital forensics; and research, advice, and support services. It provides products and services for customers in the defense and security markets for land, maritime, and air applications, as well as civil markets covering the security, transport, and the oil and gas industry. Cohort plc was incorporated in 2006 and is headquartered in Reading, the United Kingdom.

How the Company Makes Money

Cohort makes money mainly by delivering defence and security programmes and services to government and prime-contractor customers, generating revenue from contracted project work and ongoing support. Key revenue streams typically include: (1) equipment and system sales (designing, manufacturing, and supplying defence-related electronics, sensors, and communications/mission systems); (2) engineering and professional services (consultancy, system engineering, integration, test & evaluation, and programme delivery charged under project contracts); and (3) through-life support (maintenance, training, spares, upgrades, and in-service support that provide recurring revenue over the operational life of delivered systems). Earnings are influenced by its order book of contracted work, the timing of project milestones and deliveries (which drive revenue recognition), and the mix of higher-value development/integration work versus support services. Significant partnerships or specific contract terms are not available: null.

Cohort plc Financial Statement Overview

Summary

Strong revenue growth (+19.24%) and stable profitability (net margin 7.13%) support the score, alongside conservative leverage (debt-to-equity 0.50). The main offsets are slightly weakening EBIT/EBITDA margins and only modest free-cash-flow growth (+3.20%) with less-than-ideal FCF conversion (FCF/net income 0.74).

Income Statement

Cohort plc has demonstrated strong revenue growth with a 19.24% increase in the latest year, indicating robust demand and effective market positioning. The gross profit margin has slightly decreased, but remains healthy at 33.49%. Net profit margin is stable at 7.13%, reflecting consistent profitability. However, the slight decline in EBIT and EBITDA margins suggests potential cost pressures or increased competition.

Balance Sheet

The company's debt-to-equity ratio of 0.50 indicates a conservative leverage approach, enhancing financial stability. Return on equity is solid at 12.14%, showcasing effective use of shareholder funds. The equity ratio of 40.00% suggests a strong capital structure, though there is room for improvement in asset utilization.

Cash Flow

Cohort plc's free cash flow growth of 3.20% is modest, but positive, indicating effective cash management. The operating cash flow to net income ratio of 2.66 suggests strong cash generation relative to earnings. However, the free cash flow to net income ratio of 0.74 indicates potential constraints in free cash flow relative to net income, which could impact future investments.

Breakdown	TTM	Apr 2024	Apr 2023	Apr 2022	Apr 2021	Apr 2020
Income Statement
Total Revenue	280.62M	270.04M	202.53M	182.71M	137.76M	143.31M
Gross Profit	79.19M	90.42M	76.27M	64.86M	56.60M	53.36M
EBITDA	34.40M	35.57M	29.25M	23.07M	21.79M	21.36M
Net Income	18.26M	19.25M	15.32M	11.36M	9.20M	5.46M
Balance Sheet
Total Assets	413.94M	396.58M	252.50M	210.69M	203.17M	190.88M
Cash, Cash Equivalents and Short-Term Investments	53.16M	74.65M	55.16M	41.45M	40.37M	32.29M
Total Debt	95.13M	78.88M	40.51M	34.98M	39.52M	37.38M
Total Liabilities	247.03M	236.49M	142.66M	110.91M	113.98M	105.83M
Stockholders Equity	165.48M	158.61M	108.67M	97.02M	83.97M	79.31M
Cash Flow
Free Cash Flow	-27.65M	38.00M	16.36M	11.29M	17.52M	14.97M
Operating Cash Flow	-10.79M	51.18M	23.02M	16.52M	19.52M	16.22M
Investing Cash Flow	-89.57M	-93.65M	-6.16M	-6.11M	-2.37M	-2.54M
Financing Cash Flow	69.18M	46.18M	-16.92M	-10.57M	-8.70M	-1.55M

Cohort plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 949.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CHRT, the sentiment is Positive. The current price of 949 is below the 20-day moving average (MA) of 1295.00, below the 50-day MA of 1198.30, and below the 200-day MA of 1275.44, indicating a bullish trend. The MACD of 58.11 indicates Negative momentum. The RSI at 62.48 is Neutral, neither overbought nor oversold. The STOCH value of 69.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CHRT.

Cohort plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SRP	79 Outperform	£3.13B	19.41	16.69%	1.27%	0.84%	-62.73%
CHRT	74 Outperform	£621.50M	24.99	11.27%	1.58%	23.91%	-14.66%
BA	71 Outperform	£67.69B	24.91	17.90%	1.99%	11.60%	8.03%
BAB	68 Neutral	£6.77B	9.88	43.22%	0.56%	7.36%	48.93%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
CHG	63 Neutral	£1.46B	32.18	13.12%	1.64%	-2.53%	22.25%
QQ	58 Neutral	£2.64B	20.00	―	2.00%	-4.59%	-256.51%

Cohort plc Corporate Events

Cohort updates market on total voting rights and share capital

Cohort plc has confirmed that as of 28 February 2026 its issued share capital comprises 46,994,682 ordinary shares of 10 pence each, with each share carrying one voting right. The company holds no shares in treasury, and the published share count serves as the reference figure for investors to assess whether they must disclose holdings or changes in holdings under UK transparency rules.

The clarification of total voting rights provides investors and regulators with an updated denominator for calculating shareholdings, supporting compliance with disclosure obligations and enhancing market transparency. While the announcement does not signal an operational change, it underpins good governance practices and ensures stakeholders can accurately monitor significant positions in Cohort’s shares.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1416.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort updates share option plan block listing and highlights global defence tech footprint

Cohort plc, an AIM-listed defence technology group based in Reading, Berkshire, operates seven specialist businesses in the U.K., Australia, Germany and Portugal. The group focuses on communications, intelligence, sensors and effectors, providing advanced systems such as naval communications, mobile satellite terminals, sonar, surveillance and electronic warfare solutions to defence and related markets.

The company has reported its latest six‑monthly block listing return for its Company Share Option Plan, showing that 133,918 shares were issued or allotted during the period from 25 August 2025 to 24 February 2026. Following these issuances, 1,405,162 securities remain available but unallotted under the scheme, indicating continued use of equity-based incentives while maintaining a substantial reserve for future employee and management share options.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1328.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort Directors Boost Stakes via Dividend Reinvestment

Cohort plc has disclosed that its chief executive, Andrew Thomis, and finance director, Simon Walther, have increased their holdings in the company through automatic reinvestment of interim dividend payments. Following these transactions, Thomis and his closely associated persons now hold 186,759 shares, or 0.40% of the company’s issued share capital, while Walther and his associated person hold 150,935 shares, representing 0.32%.

The dividend reinvestments, executed via Global Nominee, Share Incentive Plan and ISA accounts between 17 and 19 February on AIM, signal continued equity alignment of Cohort’s senior management with shareholders. Although the incremental share purchases are relatively small in volume, they modestly strengthen insider ownership and may be viewed by investors as a sign of management’s ongoing commitment to the group’s long-term prospects in the defence technology sector.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1331.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort grants long-term share award to new chief operating officer

Cohort plc has granted a restricted share award to its newly appointed Chief Operating Officer, Christopher Axcell, as part of its executive incentive arrangements. Axcell, who joined the group on 6 February 2026, received an award of 4,435 nil-cost ordinary shares under the Cohort Restricted Share Plan.

The shares are scheduled to vest no earlier than 13 February 2029, subject to Axcell’s continued employment with the Cohort group. The transaction, conducted outside a trading venue, was disclosed in line with EU Market Abuse Regulation requirements, underlining the company’s adherence to governance and transparency standards around senior management remuneration.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1249.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort Updates Total Voting Rights Following Share Capital Review

Cohort plc has reported that, as at 31 January 2026, its issued share capital comprised 46,983,433 ordinary shares of 10 pence each, all carrying one vote per share, with no shares held in treasury. This updated total voting rights figure serves as the new reference denominator for investors assessing whether they must disclose holdings or changes in interests under UK transparency rules, providing clarity for shareholders and reinforcing the company’s compliance with market disclosure requirements.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1249.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort’s MCL Lands £17.9m UK Defence Orders, Securing 2025/26 Revenue Targets

Cohort plc has announced that its subsidiary Marlborough Communications Ltd (MCL) has secured new UK defence contracts worth a combined £17.9m, including a £14.0m award from a UK government customer for immediate delivery of uncrewed air systems with two years of in-service support, in partnership with long-term supplier Skydio. MCL has also received a £3.9m order for tactical audio systems from a UK customer, with Cohort chief executive Andrew Thomis saying the wins underline MCL’s strong customer relationships and engineering capability, strengthen the Group’s order book and revenue visibility, and fully underpin consensus revenue forecasts for the 2025/26 financial year.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1249.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort Publishes Interim Report for Six Months to 31 October 2025

Cohort plc has published its interim report for the six months to 31 October 2025, making the document available to shareholders via post or online through its investor relations website. The release underscores the company’s ongoing disclosure to the market as it integrates its diversified defence technology portfolio, including the recently acquired EM Solutions, and maintains its positioning as a specialist provider of communications, intelligence, sensor and effector systems to defence customers worldwide.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1190.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort to Present Half-Year Results and Strategy in Live Investor Webinar

Cohort plc has announced that its Chief Executive, Andrew Thomis, and Finance Director, Simon Walther, will deliver a live investor presentation via Equity Development on 14 January 2026, where they will discuss the company’s recent half-year results and outline its corporate strategy. The webinar, which is free and open to both existing and potential shareholders, will include a Q&A session and be recorded for later viewing, underscoring Cohort’s efforts to enhance transparency and engage more directly with investors as it continues to develop its position in the international defence technology market.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1190.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort Updates Market on Total Voting Rights and Share Capital

Cohort plc has confirmed that as at 31 December 2025 its issued share capital comprised 46,950,593 ordinary shares of 10 pence each, with each share carrying one voting right and no shares held in treasury. This updated total voting rights figure provides the basis for shareholders and investors to calculate whether they are required to disclose holdings or changes in their interests under UK market transparency rules, reinforcing regulatory clarity around the company’s capital structure.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1190.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.

Cohort to Brief Investors on Half-Year Results and Strategy via Live Online Presentation

Cohort plc has announced that its Chief Executive, Andrew Thomis, and Finance Director, Simon Walther, will host a live investor presentation on the Engage Investor platform on 12 January at 2:30pm GMT. During the session, they will discuss the group’s recent half-year results and outline its corporate strategy, with current shareholders and prospective investors invited to attend, follow the company via a personalised investor hub and submit questions before or during the event, underscoring Cohort’s efforts to enhance transparency and engagement with the investment community.

The most recent analyst rating on (GB:CHRT) stock is a Hold with a £1190.00 price target. To see the full list of analyst forecasts on Cohort plc stock, see the GB:CHRT Stock Forecast page.