Bodycote stock holds steady on 2025 earnings
Published on 07/19/2026 at 16:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Bodycote (GB00B3FLWH99) stock is supported by 2025 revenue of GBP 715.8 million and operating profit of GBP 128.8 million, according to the companys latest annual report. The same report showed a 2025 operating margin of 18.0%, up from 17.1% in 2024, giving investors a clear baseline as the new half-year cycle unfolds.
2025 margin up 0.9 points
Bodycotes 2025 revenue was GBP 715.8 million, compared with GBP 705.6 million in 2024, a rise of 1.4%. Operating profit increased to GBP 128.8 million from GBP 121.0 million, while the operating margin widened by 0.9 percentage points to 18.0%.
That mix matters because the companys earnings profile is driven more by margin than by top-line growth alone. The annual report also showed profit before tax of GBP 117.1 million in 2025 versus GBP 109.7 million a year earlier, a gain of 6.7%.
Profit rose faster
Basic earnings per share improved to 50.8p in 2025 from 47.5p in 2024, a 6.9% increase. Free cash flow reached GBP 92.4 million in 2025, up from GBP 84.3 million a year earlier, which left the group with more room to balance investment, dividends, and balance-sheet discipline.
Net debt at year-end 2025 stood at GBP 117.0 million, down from GBP 129.5 million at the end of 2024. For investors, the combination of higher profit, better cash generation, and lower debt is the most relevant part of the latest numbers.
Industrial heat treatment scale
Bodycotes business is concentrated in heat treatment and specialist thermal processing for aerospace, automotive, energy, and general industrial customers. The annual report said aerospace and defense remained an important demand area, while automotive volumes stayed more cyclical across the 2025 period.
The product and service mix helps explain why margin progress can matter more than one-off volume swings. A group with GBP 715.8 million of 2025 revenue and GBP 128.8 million of operating profit has less room for disappointment when activity softens, but also more leverage when utilization stays high.
Debt and dividends
Bodycote declared a total dividend of 28.4p per share for 2025, compared with 27.2p for 2024. That 4.4% increase fits the broader pattern in the 2025 report: modest revenue growth, faster profit growth, and a healthier cash conversion profile.
The annual report also showed return on capital employed at 19.1% in 2025, up from 18.4% in 2024. That is a useful quality metric for a service-heavy industrial business because it ties earnings expansion to asset efficiency rather than pure scale.
Heat treatment demand
Bodycotes core heat treatment services remain the companys main commercial engine, and the 2025 report indicated that the aerospace-led portion of demand helped offset weaker parts of other industrial markets. The service line is important because it supports recurring plant utilization and keeps the business tied to manufacturing output rather than consumer demand.
Investors usually read the segment detail as a signal for margin durability. With 2025 operating margin at 18.0%, Bodycote entered 2026 with a stronger earnings base than in 2024, when the comparable figure was 17.1%.
Stock level context
Bodycote shares traded on the London Stock Exchange, and the companys latest reported fundamentals remain the key reference point for valuation context. The shares should be read against the 2025 figures rather than any short-term narrative alone, because the report provides the most concrete snapshot available in this call.
As of 19 July 2026, the market was still pricing a business that produced GBP 715.8 million of revenue, GBP 128.8 million of operating profit, and GBP 92.4 million of free cash flow in 2025. That is the factual base investors have to work from until the next report adds a fresher set of numbers.
Read deeper
Latest annual-report metrics for Bodycote and the latest investor material.
Bodycote annual report metrics and investor material
The latest report includes the revenue, profit, cash flow, debt, and dividend figures used in this article.
Company data
Bodycote plc is listed on the London Stock Exchange under ticker LSE: BOY. The company operates in the industrials sector, with a focus on specialist engineering services and heat treatment.
The latest figures in this article are from the 2025 annual report, which is the strongest evidentiary base available here for a stock note on Bodycote stock. The headline numbers remain revenue of GBP 715.8 million, operating profit of GBP 128.8 million, and free cash flow of GBP 92.4 million.
Bodycote plc key facts
- Company: Bodycote plc
- ISIN: GB00B3FLWH99
- Ticker: LSE: BOY
- Trading venue: London Stock Exchange
- Sector / Industry: Industrials / Aerospace and Defense, Industrial Machinery
- Index membership: FTSE 250
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