Preliminary announcement of results for the year ended 30 June 2026
Record year with accelerating revenue growth and higher operating margin
Will Lee, Chief Executive Officer, commented:
“We made excellent progress in FY2026, with growth in all three segments. We are well positioned in attractive markets that offer substantial through-cycle growth opportunities. Our innovation-led strategy to achieve outperformance is also delivering good financial results, with significant growth in our emerging product lines.
FY2027 has started strongly as we continue to benefit from the current upturn in demand for semiconductor manufacturing equipment. We expect further strong progress on revenue, profit and operating margin in the year ahead.”
Performance highlights
Record adjusted profit before tax, driven by strong revenue growth and operating margin improvement:
| Adjusted* | Statutory | ||||||
| FY2026 | FY2025 | Growth | Constant FX growth | FY2026 | FY2025 | Growth | |
| Revenue (£m) | 815.8 | 713.0 | 14% | 17% | 815.8 | 713.0 | 14% |
| Operating profit (£m) | 152.9 | 112.3 | 36% | 63% | 135.3 | 107.9 | 25% |
| Operating profit margin (%) | 18.7% | 15.7% | 3.0%pt | 5.2%pt | 16.6% | 15.1% | 1.5%pt |
| Profit before tax (£m) | 168.0 | 127.2 | 32% | 150.0 | 118.0 | 27% | |
| Earnings per share (pence) | 179.5 | 137.8 | 30% | 163.5 | 115.2 | 42% | |
| Adjusted cash flow conversion from operating activities (%) | 79% | 91% | (12%pt) | ||||
| Return on invested capital (%) | 17.5% | 13.2% | 4.3%pt | ||||
| Proposed dividend per share (p) | 82.0 | 78.1 | 5% | ||||
Note: %pt = percentage points
- Revenue growth: 14% at actual exchange rates, 17% at constant currency*.
- Strong growth in demand from customers in the semiconductor and the aerospace and defence sectors.
- Emerging product lines continue to gain traction, notably additive manufacturing (AM) systems, and metrology systems and software.
- Accelerating demand throughout the year, culminating in a record Q4 at £244.2m, 28% above the prior year, with further order book growth.
- Average through-cycle revenue growth rising to 8% (5-year CAGR since FY2021).
- Adjusted operating profit margin growth was 3.0%pt at actual exchange rates (and 5.2%pt at constant currency*), driven by margin improvement from fixed cost reduction and operational leverage, offset by currency headwinds.
- Adjusted profit before tax* growth: 32%.
- Statutory profit before tax, including £18.0m of redundancy and other one-off costs, was 27% above the prior year.
- Adjusted cash flow conversion from operating activities*: 79% (FY2025: 91%), with lower capital expenditure offset by higher working capital to support record sales and a growing order book.
- Strong balance sheet with cash and deposit balances of £291.0m (FY2025: £273.6m), reflecting higher operating profit, offset by outflows for dividend, income tax paid and cost reduction programme, as well as investment in capital expenditure and working capital to support growth.
- Return on invested capital* increased by 4.3%pt to 17.5%, driven by strong profit growth.
- Proposed final dividend of 65.2 pence per share, bringing total dividend growth to +5%.
- Special interim dividend of 70.0 pence per share.
Segmental performance summary
Record annual revenue, with strong quarterly progression throughout the year:
| Segmental revenue (£m) | Q1 | Q2 | Q3 | Q4 | FY2026 | FY2025 | Growth | ConstantFX growth |
| Industrial Metrology | 102.0 | 110.1 | 115.3 | 120.0 | 447.4 | 430.6 | 4% | 7% |
| Position Measurement | 52.1 | 58.4 | 68.9 | 81.5 | 260.9 | 207.4 | 26% | 29% |
| Specialised Technologies | 16.7 | 26.3 | 21.8 | 42.7 | 107.5 | 75.0 | 43% | 46% |
| Group | 170.8 | 194.8 | 206.0 | 244.2 | 815.8 | 713.0 | 14% | 17% |
Operating profit growth in all three segments, with significant operating margin improvement in Specialised Technologies and Position Measurement:
| FY2026 | FY2025 | Change | |||||||
| All figures in £m at actual exchange rates | Revenue | Adjusted operating profit* | Adjusted operating profit margin* | Revenue | Adjusted operating profit* | Adjusted operating profit margin* | Revenue | Adjusted operating profit* | Adjusted operating profit margin* |
| Industrial Metrology | 447.4 | 76.7 | 17.1% | 430.6 | 75.5 | 17.5% | 4% | 2% | (0.4%)pt |
| Position Measurement | 260.9 | 71.5 | 27.4% | 207.4 | 46.6 | 22.5% | 26% | 53% | 4.9%pt |
| Specialised Technologies | 107.5 | 4.7 | 4.4% | 75.0 | (9.9) | (13.2%) | 43% | N/A | 17.6%pt |
| Group | 815.8 | 152.9 | 18.7% | 713.0 | 112.3 | 15.7% | 14% | 36% | 3.0%pt |
- Industrial Metrology delivered solid revenue growth, driven by strong demand for our emerging metrology systems and software product lines. Meanwhile, sales of metrology sensors were flat, and profitability for the segment was marginally lower.
- Position Measurement achieved a significant increase in adjusted operating profit on the back of strong revenue growth, mainly resulting from AI-driven semiconductor manufacturing demand, driving profitability 4.9%pt higher.
- Specialised Technologies was our fastest-growing segment, driven mostly by sharply higher demand for our emerging AM product line, especially into the aerospace and defence sector. This drove a 17.6%pt improvement in profitability, moving the segment into profit, with all product lines generating a profit this year.
* Note 29, Alternative performance measures, defines how each of these measures is calculated.
About Renishaw
We are a world leader in sensors and systems for measurement and manufacturing. We innovate with our customers to make the products of the future, transforming their capabilities through unparalleled levels of precision, productivity and practicality. We are a global business, working closely with our customers around the world to solve complex engineering and science challenges and improve their products and processes. We have three segments: Industrial Metrology (IM), Position Measurement (PM), and Specialised Technologies (ST). We operate in three regions: APAC, EMEA and the Americas. Most of our R&D and manufacturing takes place in the UK, and we have other major manufacturing sites in Ireland and India. Further information can be found at www.renishaw.com.
Results webcast
Will Lee, Chief Executive Officer, and John Shipsey, Chief Financial Officer, will host a results presentation and Q&A session at 08:30 BST today, which will be broadcast live via a webcast. Details of how to register for this webcast are available at: https://brrmedia.news/RSW_FY26.
A recording of the presentation and Q&A session will be made available by 25 September 2026 at: www.renishaw.com/investors.
Enquiries: communications@renishaw.com