Analyst consensus for year ended 31 December 2025
Income Statement (£'m) | FY25 Consensus | Low | High | Median | # Analysts* |
Total net operating income | 930.8 | 918.2 | 941.8 | 931.3 | 6 |
Total underlying operating expenses | 686.3 | 675.7 | 690.9 | 688.2 | 6 |
Underlying PBT | 244.5 | 240.6 | 253.3 | 242.9 | 6 |
Underlying operating margin | 26.3% | 25.9% | 26.9% | 26.2% | 6 |
Underlying EPS (pence per share) | 167.9 | 164.5 | 169.2 | 168.5 | 6 |
Total DPS (pence per share) | 102 | 95 | 112 | 99 | 6 |
Group FUMA (£’bn) | 115.4 | 113.8 | 118.0 | 115.2 | 6 |
Total Group net inflow/outflow (£’bn) | 0.9 | 0.5 | 2.0 | 0.7 | 5 |
*Details of these analysts can be found here.
Analyst consensus for year ended 31 December 2026
Income Statement (£'m) | FY26 Consensus | Low | High | # Analysts* |
Total net operating income | 979.6 | 961.3 | 1017.5 | 6 |
Total underlying operating expenses | 699.5 | 681.1 | 717.9 | 6 |
Underlying PBT | 280.1 | 270.3 | 299.6 | 6 |
Underlying operating margin | 28.6% | 27.8% | 29.4% | 6 |
Underlying EPS (pence per share) | 191.6 | 185.5 | 198.2 | 6 |
Total DPS (pence per share) | 112 | 92 | 132 | 6 |
Group FUMA (£’bn) | 123.1 | 120.0 | 127.9 | 6 |
Total Group net inflow/outflow (£’bn) | 2.4 | 1.1 | 4.3 | 5 |