Future (LON:FUTR) Releases Quarterly Earnings Results

Posted by George Bondi on May 16th, 2026

Future (LON:FUTR – Get Free Report) released its earnings results on Thursday. The company reported GBX 13.10 earnings per share for the quarter, Digital Look Earnings reports. The firm had revenue of £349.10 million for the quarter. Future had a return on equity of 6.22% and a net margin of 8.97%.

Here are the key takeaways from Future’s conference call:

Revenue fell 8% reported to GBP 349 million, with organic revenue down 6% as the company continued to feel the impact of search ecosystem changes, especially in its B2C business.
Mix shift pressured margins, with EBITDA of GBP 83 million at a 24% margin and gross margin down to 71% from a heavier mix of lower-margin revenue streams.
Direct advertising grew 8% in H1 and was up double digits in Q2 in both the U.S. and U.K., helping offset declines in programmatic ads and demonstrating traction from new monetization efforts.
E-commerce declined 24% due to lower website sessions, particularly in technology content, highlighting continued pressure from reduced search traffic and changing consumer journeys.
Cash generation remained strong, with GBP 91 million of adjusted free cash flow after capex and leverage at 1.6x despite shareholder returns and the SheerLuxe acquisition.
Management reiterated FY 2026 guidance for a mid-single-digit organic revenue decline, EBITDA margin of 25%-27%, and strong cash conversion, while emphasizing growth initiatives like Future Optic, Helix, Renewal, and data products.

Future Price Performance

FUTR opened at GBX 322.60 on Friday. The business has a fifty day moving average of GBX 353.59 and a 200 day moving average of GBX 471.41. Future has a 52-week low of GBX 262.20 and a 52-week high of GBX 806. The company has a quick ratio of 0.60, a current ratio of 0.96 and a debt-to-equity ratio of 32.47. The stock has a market cap of £295.54 million, a P/E ratio of 5.19, a PEG ratio of 0.64 and a beta of 1.33.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FUTR. Barclays dropped their price objective on Future from GBX 640 to GBX 285 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Jefferies Financial Group restated a “hold” rating and set a GBX 295 price objective on shares of Future in a report on Friday. Canaccord Genuity Group dropped their price objective on Future from GBX 733 to GBX 358 and set a “hold” rating for the company in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,013 price objective on shares of Future in a report on Friday. Finally, Berenberg Bank cut Future to a “hold” rating and dropped their price objective for the company from GBX 970 to GBX 330 in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 586.

Check Out Our Latest Analysis on Future