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Cohort plc
(LSE:CHRT)
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Rating:74Outperform
Price Target:
1,382.00 p
▲(45.63% Upside)
Action:Upgraded
Date: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
Sustained ~19% top-line growth shows durable demand for Cohort's defence systems and services, supporting backlog and contract competitiveness. Over 2-6 months this underpins recurring programme work, funds R&D and scaling, and reduces reliance on one-off deliveries for revenue.
Negative Factors
Weak Free Cash Flow Conversion
Modest FCF growth and sub-1.0 FCF-to-net-income ratio indicate limited cash left after capex and working capital. Over months this constrains discretionary spending, limits M&A or dividend flexibility, and raises vulnerability to higher capex or contract timing shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained ~19% top-line growth shows durable demand for Cohort's defence systems and services, supporting backlog and contract competitiveness. Over 2-6 months this underpins recurring programme work, funds R&D and scaling, and reduces reliance on one-off deliveries for revenue.
Read all positive factors
Cohort plc (CHRT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£600.11M
Dividend Yield1.58%
Average Volume (3M)178.03K
Price to Earnings (P/E)30.2
Beta (1Y)1.27
Revenue Growth23.91%
EPS Growth-14.66%
CountryUK
Employees1,400
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.42
Shares Outstanding47,046,227
10 Day Avg. Volume200,080
30 Day Avg. Volume178,030
Financial Highlights & Ratios
PEG Ratio1.65
Price to Book (P/B)3.69
Price to Sales (P/S)2.17
P/FCF Ratio15.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,520.00Price Target Upside60.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.66
Revenue Forecast (FY)£320.54M
Cohort plc Business Overview & Revenue Model
Company Description
Cohort plc, operating through its various subsidiary businesses, delivers a diverse array of products and services predominantly to the defense and security sectors. Its operational reach spans across the United Kingdom, Germany, Portugal, nations...
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) equi...
Cohort plc Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
75
Positive
| 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
Positive
949.00
Price Trends
1249.08
Positive
1265.60
Positive
1213.74
Positive
Market Momentum
39.35
Negative
50.19
Neutral
62.78
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 1285.40, below the 50-day MA of 1249.08, and below the 200-day MA of 1213.74, indicating a bullish trend. The MACD of 39.35 indicates Negative momentum. The RSI at 50.19 is Neutral, neither overbought nor oversold. The STOCH value of 62.78 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £2.21B | 15.88 | 16.69% | 1.27% | 1.69% | 276.44% | |
74 Outperform | £600.11M | 30.24 | 11.27% | 1.58% | 23.91% | -14.66% | |
69 Neutral | £54.27B | 27.18 | 18.23% | 1.99% | 7.69% | 7.29% | |
64 Neutral | £2.32B | 22.54 | 19.34% | 2.00% | -0.47% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | £4.96B | 23.66 | 43.22% | 0.56% | 7.17% | -14.18% | |
59 Neutral | £1.45B | 43.95 | 9.03% | 1.64% | -3.99% | -22.35% |
* Industrials Sector Average
GB:CHRT
Cohort plc
1,270.00
-267.19
-17.38%
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Cohort plc Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Cohort beats forecasts as record order book underpins growth
Positive
May 27, 2026
Cohort reported preliminary full-year 2025/26 revenue of £303m and adjusted operating profit of about £36m, both ahead of consensus, driven by a strong performance in its Communications and Intelligence division and the first full-year c...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Cohort Beats Forecasts as Defence Order Book Hits Record High
Positive
May 27, 2026
Cohort reported a strong performance for the year to 30 April 2026, with revenue rising 12% to about £303m and adjusted operating profit of roughly £36m, both ahead of market expectations. Net margin improved to 11.9% and the group ended...
Financial Disclosures
Cohort Sets Date for Full-Year Trading Update
Neutral
May 26, 2026
Cohort plc said it will publish its full-year trading update on 27 May 2026, signalling upcoming detail on recent performance from its diversified defence technology operations. The update is likely to be closely watched by investors and defence-s...
Regulatory Filings and Compliance
Cohort Updates Share Capital and Voting Rights Figure
Neutral
May 1, 2026
Cohort plc has confirmed that its issued share capital as of 30 April 2026 comprises 47,020,999 ordinary shares of 10 pence each, with each share carrying one vote and no shares held in treasury. This updated share capital figure sets the official...
Regulatory Filings and Compliance
Cohort CEO updates ISA holdings in routine director share transactions
Neutral
Apr 10, 2026
Cohort plc has disclosed director share dealings involving chief executive Andrew Thomis and his person closely associated, Yasmin Thomis, who executed “Bed and ISA” transactions on 9 April 2026. The pair sold and repurchased small vol...
Business Operations and StrategyRegulatory Filings and Compliance
Cohort Updates Block Listing as Employee Share Options Reduce Available Pool
Positive
Apr 2, 2026
Cohort plc has reported its latest six-month block listing return for its 2016 Savings Related Share Option Scheme, covering the period from 2 October 2025 to 1 April 2026. Over the period, 26,859 new shares were issued or allotted under the schem...
Regulatory Filings and Compliance
Cohort Updates Share Capital and Voting Rights Structure
Neutral
Apr 1, 2026
Cohort plc, the AIM-quoted defence technology group, has operations in the UK, Australia, Germany and Portugal, where its seven subsidiaries supply advanced communications, surveillance, sonar, and related systems to defence, security, government ...
Business Operations and StrategyFinancial Disclosures
Cohort’s EID Wins €42.3m Portuguese Navy Communications Contract
Positive
Mar 26, 2026
Cohort’s Portuguese subsidiary EID has secured a €42.3m contract to supply Integrated Communication Systems and networks for the Portuguese Navy’s new fleet, including supply and offshore patrol vessels, with deliveries running t...
Business Operations and StrategyFinancial Disclosures
Cohort’s EM Solutions Wins AU$21.7m Portuguese Navy Satcom Deal
Positive
Mar 23, 2026
Cohort’s Australian subsidiary EM Solutions has secured a AU$21.7m contract to supply its Cobra and King Cobra satellite communications terminals to the Portuguese Navy as part of mid-life upgrades to Vasco da Gama-class frigates and several...
Regulatory Filings and Compliance
Cohort updates market on total voting rights and share capital
Neutral
Mar 2, 2026
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 ...
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.