Hays (HAYS.L) FY26 results

Research evidence excerpt

Flash |

20 Aug 2026 02:48:10 ET │ 10 pages

Hays (HAYS.L)

FY26 results

CITI'S TAKE

EBITA of £48.6m compares with earlier management guidance of £46m.

Gross profit performance already reported on 10th July. No update as yet

on the fate of Hays' operations in Belgium, Brazil, Greater China, Malaysia,

The Netherlands, Singapore and UAE, with management still exploring

options. Hays reports that current trading in July and August has been in

line with expectations with no significant change to activity levels from

Q4. September is the key trading month in Q1, and it is too early to assess

trends. Beat on FY26 base means FY27 consensus likely drifts up as

bottom of the range now looks low, management expects FY27 EBITA

consensus to move up to around £62m from £58.7m.

Neutral

Price (19 Aug 26 16:30)

Target price

Expected share price return

Expected dividend yield

Expected total return

Market Cap

Implications — Rating maintained.

Marc Van'T SantAC

Arthur Truslove

Saifabbas Sayed

Hays (GBP)

Year to 30 Jun

2024A

2025A

2026E

2027E

2028E

Sales (£M)

6,949.1

6,607.0

6,019.8

6,259.0

6,567.2

Profit Before Tax (£M)

94.7

32.2

32.6

46.8

63.7

Diluted EPS (p)

4.0

3.2

1.1

1.9

2.6

Diluted EPS (Old) (p)

4.0

3.2

1.1

1.9

2.6

PE (x)

17.6

22.0

63.4

37.3

27.5

EV/EBITDA (x)

6.8

11.3

11.9

10.3

9.0

DPS (p)

3.0

1.2

1.3

1.4

1.5

Net Div Yield (%)

4.2

1.7

1.9

2.0

2.1