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Global testing, inspection and certification company verifying quality, safety and compliance of products and supply chains.
Global testing, inspection and certification company verifying quality, safety and compliance of products and supply chains.
Charges fees per test, inspection or certificate, often under repeat contracts driven by regulation, since a product maker needs approval before selling in a given market. Its ETL mark is accepted as proof of product safety in North America. Work spans consumer goods, energy, mining, and food and agriculture.
In one line: The UK-listed peer to Underwriters Laboratories' quality-assurance category.
Moat: narrow (scale, brand, regulatory licence). A global accreditation network and lab infrastructure are costly to replicate, though the TIC market has several similarly scaled peers.
Headquarters: London, UK · Founded: 1885 · Employees: 45,425
Size Intertek (ITRK.L) is a United Kingdom Industrials company (Miscellaneous Commercial Services) with a market value of $12.3B, the 48th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £5,945 on 6 Nov 2026.
Performance Over six months the shares gained 12.2%, against +10.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 10th highest of 20 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +4.4%); the operating margin is 17.6% (peer median 14.2%).
Valuation It trades at 22.3× forward earnings against a peer median of 20.2× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.4 points above its cost of capital (11.4% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £3.53B | £3.43B | £3.39B | £3.33B | £3.19B |
| Revenue growth | — | +1% | +2% | +4% | — |
| Gross profit | £619M | £578M | £554M | £514M | £485M |
| EBITDA | £828M | £781M | £748M | £723M | £700M |
| Net income | £320M | £344M | £345M | £297M | £289M |
| Free cash flow | £451M | £396M | £465M | £422M | £446M |
| Capital expenditure | £149M | £144M | £135M | £117M | £116M |
| Total debt | n/a | £1.65B | £1.14B | £1.22B | £1.38B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Intertek ITRK.L | $12.3B | +12% | +4% | 18% | 22.3× | 14.8% |
| Sgs SGSN.SW | $24.8B | +21% | +5% | 15% | 24.5× | 3.1% |
| Bureau Veritas BVI.PA | $14.9B | +13% | +2% | 15% | 20.2× | 7.9% |
| Eurofins Scientific ERF.PA | $17.5B | +49% | +3% | 12% | 23.0× | 13.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ITRK.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.9% | +11.3% | 2nd lowest of 20 |
| 6-month return | +12.2% | +10.8% | 10th highest of 20 |
| Distance from 52-week high | -0.3% | -14.0% | highest of 21 |
| Revenue growth (TTM) | +3.9% | +4.4% | 10th lowest of 21 |
| Operating margin | 17.6% | 14.2% | 7th highest of 21 |
| Forward P/E | 22.3× | 20.2× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 14.8% | 7.9% | 2nd most demanding of 20 |
| Growth delivered (Del g) | +4.6% | +9.2% | 4th lowest of 20 |
| Hurdle (Req g minus delivered) | +10.2 pp | -4.2 pp | most demanding of 20 |
| ROIC minus cost of capital | +6.4 pp | +6.9 pp | 10th highest of 19 |
| EV / EBITDA | 12.8× | 11.9× | 8th most expensive of 20 |
| Net debt / EBITDA | 1.8× | 1.7× | 10th most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Intertek ITRK.L | United Kingdom | $12.3B | +12% | +4% | 18% | 22.3× | 14.8% | +4.6% |
| CETC Lantian Technology 688818.SS | China | $12.1B | -33% | +5% | 9% | 214.2× | n/a | n/a |
| Rentokil Initial RTO.L | United Kingdom | $11.9B | -26% | 0% | 14% | 16.9× | 8.2% | +13.4% |
| Baycurrent 6532.T | Japan | $11.2B | +132% | +32% | 33% | 35.6× | 6.4% | +28.2% |
| Booz Allen Hamilton BAH | United States | $10.1B | +11% | -6% | 9% | 13.3× | -7.0% | +7.4% |
| Bureau Veritas BVI.PA | France | $14.9B | +13% | +2% | 15% | 20.2× | 7.9% | +7.0% |
| UL Solutions ULS | United States | $15.9B | -22% | +6% | 19% | 31.2× | 9.1% | +5.8% |
| Securitas SECU-B.ST | Sweden | $9.22B | +4% | -5% | 7% | 12.3× | -4.9% | +7.5% |
| Computershare CPU.AX | Australia | $17.2B | +44% | 0% | 30% | 19.1× | -2.6% | +9.2% |
| CAE CAE.TO | Canada | $8.67B | +3% | +5% | 13% | 29.5× | 13.2% | +10.5% |
| Spie SPIE.PA | France | $8.64B | -8% | +3% | 6% | 14.5× | 8.6% | +9.3% |
| Eurofins Scientific ERF.PA | France | $17.5B | +49% | +3% | 12% | 23.0× | 13.3% | +6.1% |
| Rollins ROL | United States | $18.1B | -29% | +8% | 19% | 31.4× | 11.2% | +11.7% |
| Secom 9735.T | Japan | $18.8B | +16% | +4% | 13% | 22.7× | -0.3% | +3.9% |
| ALS ALQ.AX | Australia | $7.40B | -3% | +11% | 17% | 23.6× | 23.0% | +13.5% |
| Iss A/s ISS.CO | Denmark | $7.08B | +13% | +4% | 5% | 15.3× | -6.1% | +3.7% |
| Genpact G | United States | $7.07B | +30% | +7% | 16% | 9.9× | -7.5% | +6.5% |
| Airtel Mobile Commerce AMC.L | United Kingdom | $7.05B | n/a | +30% | 48% | n/a | 11.5% | +30.3% |
| Edenred EDEN.PA | France | $6.52B | +15% | +3% | 30% | 12.0× | -8.0% | +13.9% |
| Elis ELIS.PA | France | $6.44B | -12% | +5% | 13% | 12.0× | 10.1% | +11.3% |
| Sgs SGSN.SW | Switzerland | $24.8B | +21% | +5% | 15% | 24.5× | 3.1% | +4.4% |