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olivLaw · European equity research

Mitie Group plc MTO.L

United Kingdom · London Stock Exchange · ISIN GB0004657408 · Vertical: Listed companies from United Kingdom

2.09GBP−0.38% · 1 dayClose 05 Nov 2026

Mitie Group plc is the largest integrated facilities management provider in the UK, serving public and private sector clients. In fiscal 2026 it reported a record total order book of £16.3bn, and the integration of the Marlowe acquisition expands its capacity to deliver large contracts as clients push for efficiency and building digitalisation.

At the close of 05 Nov 2026, Mitie Group plc (MTO.L) stock was 2.09 GBP (−0.38% on the day), with market capitalisation 2.6 bn GBP, P/E 34.3 on diluted EPS of 0.06 GBP over the last 12 months, dividend yield 2.11%, beta 0.52, 52-week range 1.48–2.11 GBP.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
2.6 bn GBP
shares as of 31 Mar 2026
P/E (TTM)
34.3
Diluted EPS TTM 0.06 · TTM to 31 Mar 2026
E/P (TTM)
2.92%
TTM to 31 Mar 2026
Dividend yield
2.11%
DPS 12m 0.04
Beta (2y)
0.52
Volatility (1y) 38%
52-week range
1.482.11

Price history

Loading chart…

Technical reading

RSI (14)
42.0
weak (30–45)
Bollinger (20, 2)
2.09 – 2.11
below the lower band · %B -0.06 · band width 1.1%
SMA 50 / 200
2.10 / 1.84
mixed trend
MACD (12, 26, 9)
0.00 / 0.00
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month−0.5%−0.6%+0.2 pp—
3 months+1.2%−4.2%+5.3 pp—
6 months+20.5%+4.3%+16.1 pp—
Year to date+25.6%+7.5%+18.1 pp—
1 year+28.2%+9.9%+18.3 pp+5.8%
3 years+106.9%+49.8%+57.1 pp+26.3%
5 years+210.5%+42.8%+167.7 pp—
Max drawdown (1y)
−20.1%
14 Apr 2026 → 08 Jul 2026
Max drawdown (5y)
−34.9%
17 Nov 2021 → 08 Mar 2022
Compound annual growth (5y)
+25.4%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 100 percentile of its own 3-quarter history (min 11.5, median 15.1, max 27.7; quarters with earnings only).

Fiscal years

Fiscal year202420252026
Revenue4.4 bn5.1 bn5.6 bn
Revenue YoYunavailable+14.3%+10.5%
Net income126.3 m101.4 m82.6 m
Net income YoYunavailable−19.7%−18.5%
Diluted EPS0.090.080.06
Diluted EPS YoYunavailable−16.5%−19.7%
net %2.8%2.0%1.5%
Free cash flow186.2 m196.0 m213.2 m

Balance sheet & financial health

Fiscal year 2026 · 31 Mar 2026

Cash
108.9 m GBP
Financial debt
unavailable GBP
Net debt
unavailable GBP
Equity
532.5 m GBP
Total assets
2.5 bn GBP
Debt / equity
unavailable
Current ratio
0.89x
ROE
17.2%
ROA
3.5%
FCF margin
3.8%

Financial statements (source on every figure)

Revenue and net income (GBP)

Margins

Income statement · GBP

Revenue
2024
4.4 bn
2025
5.1 bn
2026
5.6 bn

esef· 25 Jun 2026verified

Cost of revenue
2024
3.9 bn
2025
4.5 bn
2026
5.0 bn

esef· 25 Jun 2026verified

Gross profit
2024
499.9 m
2025
569.7 m
2026
656.3 m

esef· 25 Jun 2026verified

Operating income
2024
165.7 m
2025
161.6 m
2026
151.4 m

esef· 25 Jun 2026verified

Interest expense
2024
13.6 m
2025
19.5 m
2026
31.0 m

esef· 25 Jun 2026verified

Pre-tax income
2024
156.3 m
2025
145.4 m
2026
123.7 m

esef· 25 Jun 2026verified

Income tax
2024
25.4 m
2025
37.0 m
2026
33.4 m

esef· 25 Jun 2026verified

Net income
2024
126.3 m
2025
101.4 m
2026
82.6 m

esef· 25 Jun 2026verified

Diluted EPS
2024
0.09
2025
0.08
2026
0.06

esef· 25 Jun 2026verified

Dividend per share
2024
0.03
2025
0.04
2026
0.04

esef· 25 Jun 2026verified

Balance sheet · GBP

Cash
2024
244.9 m
2025
180.4 m
2026
108.9 m

esef· 25 Jun 2026verified

Receivables
2024
775.1 m
2025
967.9 m
2026
1.1 bn

esef· 25 Jun 2026verified

Inventories
2024
14.7 m
2025
14.9 m
2026
26.7 m

esef· 25 Jun 2026verified

Current assets
2024
1.0 bn
2025
1.2 bn
2026
1.2 bn

esef· 25 Jun 2026verified

Property, plant & equipment, net
2024
204.7 m
2025
246.9 m
2026
—

esef· 24 Jun 2025verified

Goodwill
2024
361.7 m
2025
397.8 m
2026
642.5 m

esef· 25 Jun 2026verified

Intangibles (excl. goodwill)
2024
283.4 m
2025
266.7 m
2026
376.5 m

esef· 25 Jun 2026verified

Total assets
2024
1.9 bn
2025
2.1 bn
2026
2.5 bn

esef· 25 Jun 2026verified

Accounts payable
2024
892.4 m
2025
1.0 bn
2026
1.1 bn

esef· 25 Jun 2026verified

Current liabilities
2024
1.1 bn
2025
1.2 bn
2026
1.4 bn

esef· 25 Jun 2026verified

Total liabilities
2024
1.5 bn
2025
1.7 bn
2026
2.0 bn

esef· 25 Jun 2026verified

Equity
2024
473.7 m
2025
428.0 m
2026
532.5 m

esef· 25 Jun 2026verified

Shares outstanding at year end
2024
1.3 bn
2025
1.2 bn
2026
1.3 bn

esef· 25 Jun 2026derived

Cash flow · GBP

Operating cash flow
2024
197.7 m
2025
220.0 m
2026
246.6 m

esef· 25 Jun 2026verified

Capex
2024
11.5 m
2025
24.0 m
2026
33.4 m

esef· 25 Jun 2026verified

Free cash flow
2024
186.2 m ≈
2025
196.0 m ≈
2026
213.2 m ≈

esef· 25 Jun 2026derived

Investing cash flow
2024
-41.7 m
2025
-77.9 m
2026
-271.2 m

esef· 25 Jun 2026verified

Financing cash flow
2024
-158.9 m
2025
-206.3 m
2026
-47.2 m

esef· 25 Jun 2026verified

Share repurchases
2024
19.6 m
2025
14.6 m
2026
—

esef· 24 Jun 2025verified

Computed indicators

Growth

Revenue growth (YoY)
10.5%
computed by olivLawFY 2026
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
-6.3%
computed by olivLawFY 2026
Net income growth (YoY)
-18.5%
computed by olivLawFY 2026
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
-19.7%
computed by olivLawFY 2026
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
8.8%
computed by olivLawFY 2026

Profitability

Gross margin
11.7%
computed by olivLawFY 2026
EBITDA margin
unavailable
input data missing
EBIT margin
2.7%
computed by olivLawFY 2026
Net margin
1.5%
computed by olivLawFY 2026
FCF margin
3.8%
computed by olivLawFY 2026

Returns

ROE
17.9%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
ROA
3.5%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
ROIC
unavailable
input data missing
ROCE
12.9%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Payout ratio (EPS)
72.1%
computed by olivLawFY 2026
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
4.9x
computed by olivLawFY 2026

Liquidity

Current ratio
0.9x
computed by olivLawbalance sheet at 31 Mar 2026
Quick ratio
0.9x
computed by olivLawbalance sheet at 31 Mar 2026
Cash ratio
0.1x
computed by olivLawbalance sheet at 31 Mar 2026

Cash

Operating cash flow
246.6 m GBP
computed by olivLawFY 2026
Capital expenditure
33.4 m GBP
computed by olivLawFY 2026
Free cash flow
213.2 m GBP
computed by olivLawFY 2026
FCF conversion
258.1%
computed by olivLawFY 2026
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
67 days
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Days inventory outstanding
2 days
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Days payables outstanding
79 days
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Cash conversion cycle
-11 days
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026

Market and valuation

Market capitalisation
2.6 bn GBP
computed by olivLawbalance sheet at 31 Mar 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
31.7x
computed by olivLawFY 2026
P/E (TTM)
34.3x
computed by olivLawFY 2026
Earnings yield
2.9%
computed by olivLawFY 2026
P/B
5.1x
computed by olivLawbalance sheet at 31 Mar 2026
P/S
0.5x
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
12.3x
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
FCF yield
8.2%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Dividend yield
2.1%
computed by olivLawFY 2026
Shareholder yield (distributions)
0.6%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 47.9% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

2.09 GBP

05 Nov 2026Source: olivLaw, closing series

Market cap: 2.6 bn GBP

Key indicators

Market capitalisation
2.6 bn GBP
computed by olivLawbalance sheet at 31 Mar 2026
P/E (TTM)
34.3x
computed by olivLawFY 2026
P/B
5.1x
computed by olivLawbalance sheet at 31 Mar 2026
EV/EBITDA
unavailable
input data missing
ROE
17.9%
computed by olivLawFY 2026 · balance sheet at 31 Mar 2026
Net margin
1.5%
computed by olivLawFY 2026
Revenue growth (YoY)
10.5%
computed by olivLawFY 2026
Dividend yield
2.1%
computed by olivLawFY 2026

Coverage and freshness

29/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 31 Mar 2026
Latest balance sheet date: 31 Mar 2026
Share count (cover of the latest filing), as of: 31 Mar 2026
Source: esefpublished 25 Jun 2026
verified 90derived 3

Score by group

48% · Insufficient data

Estimated value range

unavailable — no valuation assumptions for the reporting currency

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

    Assumptions (illustrative, editorial)

    Risk-free rate
    6.5%
    Equity risk premium
    6.0%
    Beta (default)
    1.00
    Cost of equity
    12.5%
    Terminal growth
    3.0%

    Factor scorecard

    Insufficient data

    Minimum-evidence gate: score weight coverage: 47.9% of at least 60%

    FactorValueScoreWeight used
    ROIC · Qualityunavailableunavailable—
    Net margin · Quality1.5%26 (vs peers)13%
    FCF conversion · Quality258.1%100 (on a fixed band)13%
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheet4.9x52 (on a fixed band)13%
    Current ratio · Balance sheet0.9x7 (on a fixed band)9%
    P/E (TTM) · Valuation34.3x6 (vs peers)22%
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuation8.2%100 (on a fixed band)17%
    Shareholder yield (distributions) · Returns0.6%8 (on a fixed band)13%
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet34/100 · 2/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality63/100 · 2/3 factors with a value
    • Returns· partial8/100 · 1/2 factors with a value
    • Valuation48/100 · 2/3 factors with a value

    A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

    Memo

    MITIE GROUP PLC (MTO.L). Latest full fiscal year: 2026; data up to 2026-03-31.

    Figures computed from the financial statements: revenue 5.6 bn GBP in 2026; YoY growth 10.5%; net margin 1.5%; ROE 17.9%.

    The estimated value range is 0.56–0.80 GBP per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 0.68 GBP, the price of 2.09 GBP leaves a potential of -67.5% (value / price − 1) and a margin of safety of -208.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

    Insufficient data for a verdict (score weight coverage: 47.9% of at least 60%).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    • FCF conversion: 258.1%
    • FCF yield: 8.2%

    What contradicts it

    • Net margin: 1.5%
    • Current ratio: 0.9x
    • P/E (TTM): 34.3x
    • Shareholder yield (distributions): 0.6%
    • The price is above the estimated value range
    • The valuation methods diverge

    Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).

    Versus the vertical median

    Listed companies from United Kingdom · same country · compared with 39 companies

    Multiples and returns vs the median

    P/E
    34.3x
    vertical median 15.3x
    above median (+123.4%)
    EV/EBITDA
    —
    vertical median —
    P/S
    0.5x
    vertical median 1.5x
    below median (−69.7%)
    P/B
    5.1x
    vertical median 2.2x
    above median (+135.4%)
    ROE
    17.9%
    vertical median 14.4%
    above median (+24.3%)
    Net margin
    1.5%
    vertical median 10.8%
    below median (−86.4%)
    EBIT margin
    2.7%
    vertical median 22.9%
    below median (−88.3%)
    Revenue YoY
    10.5%
    vertical median 7.9%
    above median (+33.8%)
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    2.1%
    vertical median 2.9%
    below median (−26.3%)

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    BATS.LBritish American Tobacco P.L.C.104.3 bn13.516.5%30.3%−1.0%+7% / +88%
    ABF.LAssociated British Foods PLC14.7 bn14.39.2%5.3%−3.1%−5% / −15%
    0EV1.LCarnival PLC5.5 bn4.146.7%13.4%+6.4%unavailable / unavailable
    BAB.LBabcock International Group PLC5.1 bn24.734.7%4.1%+7.2%−10% / +158%
    AUTO.LAutotrader Group PLC4.8 bn16.460.2%47.1%+3.9%−13% / −23%
    BBY.LBalfour Beatty PLC4.2 bn16.323.2%2.8%+15.2%+20% / +160%
    ABDN.LAberdeen Group PLC4.1 bn10.88.0%28.9%−2.1%+11% / +41%
    BKG.LThe Berkeley Group Holdings PLC3.6 bn11.38.8%13.4%−4.2%−0% / −22%
    BME.LB&M European Value Retail PLC2.9 bn17.421.2%2.8%+3.7%+68% / −51%
    MTO.LMitie Group PLC2.6 bn34.317.9%1.5%+10.5%+32% / +113%
    AJB.LAj Bell PLC2.4 bn22.849.9%33.1%+18.0%+8% / +128%
    ASHM.LAshmore Group PLC1.4 bn13.913.1%71.6%−0.1%+28% / +18%
    BCG.LBaltic Classifieds Group PLC1.2 bn23.215.8%57.6%+6.9%−99% / −99%
    APN.LApplied Nutrition PLC763.6 m36.241.2%19.7%+24.2%+71% / unavailable
    BAG.LA.G. Barr P.L.C.671.9 m14.414.4%10.8%+4.0%−7% / +26%
    ASC.LAsos PLC494.5 m—-81.3%-12.0%−14.7%+71% / +8%
    ALFA.LAlfa Financial Software Holdings PLC486.8 m16.361.5%23.8%+15.3%−28% / +10%
    AML.LAston Martin Lagonda Global Holdings PLC344.3 m—-93.4%-39.2%−20.6%−45% / −85%
    APTD.LAptitude Software Group PLC111.3 m28.57.2%6.2%−7.3%−30% / −23%
    AMGO.LAmigo Holdings PLC9.9 m———−81.9%+325% / +844%
    ASBE.LAssociated British Engineering PLC605.3 k—-19.1%—unavailableunavailable / unavailable
    AMIF.LAmicorp Fs (uk) PLC221.6 k0.127.5%9.1%+8.1%unavailable / unavailable
    AAF.LAirtel Africa PLC——24.1%10.6%+29.5%−7% / +164%
    AAL.LAnglo American PLC——-19.3%-20.2%+4.5%+30% / +76%
    ACG.LAcg Metals Limited——-80.3%-32.0%+134.8%+60% / +63%

    1- and 3-year price returns: for MTO.L from daily closes (the same as the performance table), for the other companies from month-end closes.

    olivLaw engine forecast

    The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

    The engine has no published run for this company yet.

    Valuation scenarios (editable assumptions)

    Illustrative scenarios

    Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

    Bear
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Base
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Bull
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Nothing is saved.

    Estimated price (GBP)

    Estimated priceBearBaseBull
    1 years
    1.42
    Total return -30% · Per year -30%
    2.50
    Total return 22% · Per year 22%
    3.76
    Total return 83% · Per year 83%
    3 years
    1.55
    Total return -20% · Per year -7%
    3.05
    Total return 55% · Per year 16%
    5.01
    Total return 150% · Per year 36%
    5 years
    1.69
    Total return -9% · Per year -2%
    3.73
    Total return 94% · Per year 14%
    6.69
    Total return 241% · Per year 28%
    What moves the 3-year price the most
    • Exit P/E± 0.76
    • Net margin± 0.53
    • Annual revenue growth± 0.41
    • Annual dilution± 0.04

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Mitie Group plc is the largest integrated facilities management provider in the UK, serving public and private sector clients. In fiscal 2026 it reported a record total order book of £16.3bn 1, and the integration of the Marlowe acquisition expands its capacity to deliver large contracts as clients push for efficiency and building digitalisation.1

    SWOT

    Strengths

    • UK market leadership, a record order book and long-standing relationships with large clients.
    • High NPS and strong colleague engagement, supporting client retention and operational stability.
    • A proprietary digital platform and ISOC security centres that differentiate the offer and support efficiency.

    Weaknesses

    • Higher indebtedness after the Marlowe acquisition, with leverage in the upper part of the company's target range.
    • Frontline staff turnover and violence against frontline workers, which raise safety risk.
    • The share of women in senior leadership fell, pointing to challenges in building the talent pipeline.

    Opportunities

    • Extending transformation and compliance services to existing clients as building regulation tightens.
    • Integrating Marlowe could open new order lines and cost synergies if the process goes to plan.
    • Wider adoption of AI and automation could lower costs and support operating margins.

    Threats

    • Public sector client pressure on costs may limit price increases and contract margins.
    • Inflation and labour shortages can raise delivery costs and affect service continuity.
    • Geopolitical instability and energy volatility could disrupt supply chains and contract costs.

    Risks

    • Post-acquisition indebtednessmedium

      Funding the Marlowe acquisition through bridge facilities and private placement notes raised net debt, and higher financing costs could reduce free cash flow available for dividends and buybacks.

    • Frontline colleague safetymedium

      A rise in violence against frontline workers has increased the injury frequency rate, which could affect reputation and insurance costs.

    • Pressure on contract marginshigh

      Clients demand demonstrable value and lower costs, and these demands could erode margins if not offset by efficiency gains.

    • Labour availabilitymedium

      A shortage of skilled staff could limit the ability to deliver large contracts and meet performance indicators, especially during periods of growth.

    • Energy costs and geopolitical exposurelow

      Energy volatility and geopolitical instability could raise operating costs and affect the supply chains of the company and its clients.

    Investment thesis

    What would need to be true (bull case)

    • If the record order book converts into stable revenue and the Marlowe integration delivers the synergies announced, the company could consolidate its UK market leadership.
    • A high NPS and strong colleague engagement could support client retention and reduce costs linked to workforce turnover.
    • If the digital platform and ISOC sites continue to deliver efficiency, operating margins could rise over time.

    What would break the thesis

    • If client cost pressure intensifies, margins on new contracts could fall below historical levels.
    • Higher indebtedness after the acquisition could limit financial flexibility if free cash flow declines or interest costs rise.
    • If safety incidents and labour shortages persist, operating costs and risks could increase.

    What to watch

    • Trend in leverage and net debt after the Marlowe integrationnext 10-K
    • Conversion of the order book and contract renewal rates2027
    • Safety indicators and frontline colleague turnover2027
    • Performance of the Facilities Transformation pillar and expansion of compliance servicesnext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    Mitie provides facilities management, transformation and compliance services to clients in central government, defence, retail, manufacturing, transport and logistics. The company identifies its growth pillars as technology-led integrated FM, transformation of client estates and compliance services, all supported by the Mitie Digital Platform. Its model rests on long-term contracts with national blue-chip customers that it serves through self-delivery. 1

    Mitie describes itself as the UK market leader in its industry and in each of its core service lines. Its emphasis on technology and operational intelligence, including its ISOC security centres, lets it offer bundled services and collect workforce and workflow data across client estates. 1

    The company targets sustainable free cash flow and leverage between 0.75x and 1.5x over the FY25-FY27 Strategic Plan. The Marlowe acquisition was partly funded through bridge facilities and private placement notes, which raised average daily net debt. 1

    Segments

    Facilities Management

    The Facilities Management pillar covers integrated and single-line services such as engineering, maintenance, security and hygiene, delivered through technology and the Mitie Digital Platform. It is the core pillar and the main source of recurring revenue. 1

    Facilities Transformation

    The Transformation pillar covers fit-out and modernisation of client buildings, including project work. It lets the company extend existing contract relationships into capital works. 1

    Facilities Compliance

    The Compliance pillar includes fire and security services and water and environmental services, helping client infrastructure meet increasingly stringent regulatory requirements. 1

    Market context

    Mitie operates in the UK facilities management market, where public and private sector clients increasingly outsource maintenance and security. The company reports that it holds a leading position in each of its core service lines. The size of the market is described only qualitatively in the annual report. 1

    Demand is shaped by client cost pressure and the need for demonstrable value, along with workforce availability and inflation, which the company lists as key issues in its client engagement. 1

    Trends

    • Digitalisation and artificial intelligencetailwind

      Investment in technology and AI could strengthen Mitie's position through efficiency and automation, and the digital platform could raise client loyalty if adoption continues to expand.

    • Regulation and compliance requirementsmixed

      Tighter rules on building safety and sustainability could create demand for compliance services, but could also raise operating costs for providers.

    • Client cost pressureheadwind

      Clients increasingly ask for demonstrable value, which could limit margins on new contracts, although it may favour providers that can show efficiency.

    • Geopolitical tension and energy securitymixed

      Geopolitical instability increases demand for critical infrastructure resilience, but adds uncertainty over energy costs and supply chains.

    Competitive position

    Mitie competes with other large integrated facilities management and services providers in the UK and Europe, as well as with firms specialising in individual service lines. The analysed source does not name competitors explicitly, and the advantage the company cites is its national scale and capacity for self-delivery.

    Mitie's differentiation rests on technology, a high NPS score and long-standing public sector relationships, which are harder for smaller competitors to replicate. 1

    • UK integrated facilities management providers

      Competitors in the UK market offering similar integrated services to public and private sector clients; the source does not name them.

    • Single-line service specialists

      Firms competing with Mitie on security, hygiene or engineering without offering the full integrated portfolio.

    • European public sector service providers

      Groups active in Europe that can compete for defence and infrastructure contracts, such as those in Germany and Italy.

    • Security services and monitoring operators

      Operators providing security operations centres and monitoring, an area where Mitie supports its offer with its own ISOC sites.

    News & filings

    In the press

    Annual reports (ESEF)

    Sources

    1. [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / Mitie Group plc · 31 Mar 2026

    Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.