Cohort - Edison Group

Overview
Price performance
Financials
Research
Thematics

Edison Investment Research is terminating coverage on Cohort. Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Previously published reports can still be accessed via our website.

Latest Insights

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Industrials |
Outlook

15.12.22

Cohort — Defence remains an increasing priority

Update

18.10.22

Cohort — Reversing anticipated FY24 tax benefit

Industrials |
Update

27.09.22

Cohort — Order book supports return to growth

Industrials |
Flash note

07.09.22

Cohort — Making good progress at SEA

Sector

Industrials

Balance Sheet

Forecast net cash (£m)

4.9

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(11.1)	(20.7)	(28.3)
Relative	(16.6)	(18.5)	(25.9)
52 week high/low	630.0p/391.0p

Financials

Cohort is an AIM-listed defence and security company operating across six divisions: MASS (22% of H123 sales), SEA (21%), MCL (18%), the 80%-owned Portuguese business EID (3%), the now wholly owned Chess Dynamics based in the UK (25%) and ELAC SONAR in Germany (12%).

Y/E Apr	Revenue (£m)	EBITDA (£m)	PBT (£m)	EPS (p)	P/E (x)	P/CF (x)
2021A	143.3	22.1	17.9	33.6	13.1	8.5
2022A	137.8	19.4	14.7	31.1	14.1	7.8
2023E	165.9	22.9	17.6	35.0	12.6	24.5
2024E	179.7	25.2	19.6	36.5	12.1	8.7

Update

Industrials

28.07.20

Cohort — Record year delivered despite pandemic

Update

Industrials

21.05.20

Cohort — Earnings growth despite COVID impacts

Update

Industrials

13.12.19

Cohort — Executing the strategy

Flash note

Industrials

18.09.19

Cohort — Order cover strengthens further

Update

Industrials

26.07.19

Cohort — Strong order intake bodes well

Update

Industrials

29.04.19

Cohort — Orders underpinning prospects

Outlook

Industrials

20.12.18

Cohort — Strategic Chess move

Flash note

Industrials

13.11.18

Cohort — Further order successes for MASS and EID

Flash note

Industrials

26.10.18

Cohort — MASS success verifies core capabilities

Flash note

Industrials

04.10.18

Cohort — Encouraging order development

Update

Industrials

03.07.18

Cohort — Marching on

Update

Industrials

30.04.18

Cohort — Progressing to plan

Outlook

Industrials

13.12.17

Cohort — Agile and responsive

Flash note

Industrials

28.11.17

Cohort — Going to plan

Update

Industrials

05.07.17

Cohort — Marching on

research

Industrials

10.03.17

Cohort — Protection for hearing and earnings

Flash note

Industrials

26.01.17

Cohort — Update 26 January 2017

Update

Industrials

12.12.16

Cohort — Update 12 December 2016

Flash note

Industrials

12.10.16

Cohort — Update 12 October 2016

Outlook

Industrials

04.10.16

Cohort — Update 4 October 2016

Update

Industrials

30.07.16

Cohort — Update 30 July 2016

Flash note

Industrials

31.03.16

Cohort — Update 31 March 2016

Update

Industrials

17.12.15

Cohort — Update 16 December 2015