Analyst consensus for year ended 31 December 2025
Income Statement (£'m) | FY25 Consensus | Low | High | Median | # Analysts* |
Total net operating income | 901.5 | 888.8 | 909.1 | 904.6 | 6 |
Total underlying operating expenses | 672.7 | 665.4 | 677.5 | 673.3 | 6 |
Underlying PBT | 228.8 | 218.6 | 233.4 | 229.9 | 6 |
Underlying operating margin | 25.4% | 24.6% | 25.7% | 25.5% | 6 |
Underlying EPS (pence per share) | 157.1 | 151.5 | 161.5 | 158.4 | 6 |
Total DPS (pence per share) | 98 | 95 | 102 | 99 | 6 |
Group FUMA (£’bn) | 109.0 | 106.6 | 112.7 | 109.0 | 6 |
Total Group net inflow/outflow (£’bn) | -0.4 | -0.7 | 0.2 | -0.6 | 6 |
*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 | 935.5 | 916.7 | 981.2 | 6 |
Total underlying operating expenses | 676.7 | 659.2 | 705.8 | 6 |
Underlying PBT | 258.8 | 252.5 | 275.4 | 6 |
Underlying operating margin | 27.7% | 27.1% | 28.3% | 6 |
Underlying EPS (pence per share) | 176.9 | 170.5 | 182.2 | 6 |
Total DPS (pence per share) | 106 | 97 | 121 | 6 |
Group FUMA (£’bn) | 115.9 | 114.0 | 122.1 | 6 |
Total Group net inflow/outflow (£’bn) | 2.1 | 1.1 | 3.9 | 6 |