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UK precision-engineering company making metrology (measurement) instruments, additive-manufacturing (3D printing) systems and dental scanning tech.
UK precision-engineering company making metrology (measurement) instruments, additive-manufacturing (3D printing) systems and dental scanning tech.
Sells measuring probes and encoders to machine-tool makers and factories worldwide, mostly through its own sales offices, with additive manufacturing, 3D printing of metal parts, a newer and slower-building line. Its co-founders, Sir David McMurtry and John Deer, together hold a majority, and manufacturing is concentrated in the UK and Ireland.
In one line: A UK precision-metrology maker, like a smaller Hexagon AB or FARO Technologies.
Moat: narrow (IP, process know-how, customer qualification). Precision measurement IP and integration into machine tools/manufacturing lines create switching costs.
Headquarters: Wotton-under-Edge, UK · Founded: 1973 · Employees: 5,128
Size Renishaw (RSW.L) is a United Kingdom Industrials company (Industrial Machinery) with a market value of $4.61B, the 99th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £4,712 on 6 Nov 2026.
Performance Over six months the shares fell 7.2%, against -18.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 14.4% over the last twelve months (peer median +10.5%); the operating margin is 16.4% (peer median 11.6%).
Valuation It trades at 18.5× forward earnings against a peer median of 17.8× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +17 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 1.4 points above its cost of capital (12.8% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | £816M | £816M | £713M | £691M | £682M |
| Revenue growth | — | +14% | +3% | +1% | — |
| Gross profit | £484M | £484M | £440M | £422M | £434M |
| EBITDA | £167M | £167M | £136M | £132M | £156M |
| Net income | £119M | £119M | £83.8M | £96.9M | £116M |
| Free cash flow | £83.0M | £83.0M | £114M | £67.6M | £17.1M |
| Capital expenditure | £48.3M | £48.3M | £56.6M | £75.0M | £84.6M |
| Total debt | n/a | £13.5M | £15.6M | £18.5M | £13.3M |
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 |
|---|---|---|---|---|---|---|
| Renishaw RSW.L | $4.61B | -7% | +14% | 16% | 18.5× | 24.8% |
| Hexagon HEXA-B.ST | $29.4B | +14% | -20% | -14% | 30.0× | 9.1% |
| Nikon 7731.T | $3.17B | -12% | -4% | -2% | 45.4× | n/a |
| Keyence 6861.T | $107B | -2% | +25% | 54% | 28.7× | 21.1% |
| 3D Systems DDD | n/a | -29% | n/a | n/a | n/a | n/a |
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 | RSW.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.6% | -9.5% | 10th lowest of 21 |
| 6-month return | -7.2% | -18.8% | 6th highest of 19 |
| Distance from 52-week high | -21.9% | -40.1% | 5th highest of 21 |
| Revenue growth (TTM) | +14.4% | +10.5% | 7th highest of 21 |
| Operating margin | 16.4% | 11.6% | 7th highest of 21 |
| Forward P/E | 18.5× | 17.8× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 24.8% | 10.6% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +7.5% | +11.6% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | +17.3 pp | -1.6 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | +1.4 pp | -2.4 pp | 8th highest of 21 |
| EV / EBITDA | 18.8× | 11.7× | 2nd most expensive of 11 |
| Net debt / EBITDA | -1.7× | 0.7× | 3rd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Renishaw RSW.L | United Kingdom | $4.61B | -7% | +14% | 16% | 18.5× | 24.8% | +7.5% |
| Rainbow Robotics 277810.KS | South Korea | $4.59B | -52% | +92% | -16% | 653.8× | n/a | n/a |
| Interpump IP.MI | Italy | $4.57B | +3% | +1% | 14% | 16.8× | 12.6% | +9.9% |
| Neway Valve (Suzhou) 603699.SS | China | $4.66B | -36% | +11% | 26% | 17.9× | 10.0% | +16.5% |
| Circuit Fabology Microelectronics Equipment 9630.HK | Hong Kong | $4.68B | n/a | +103% | 27% | 36.1× | 8.5% | +34.4% |
| Wuhan DR Laser Technology 300776.SZ | China | $4.69B | -24% | -23% | 19% | 37.9× | 51.8% | +13.6% |
| Hangcha 603298.SS | China | $4.71B | -12% | +7% | 12% | 13.3× | 2.9% | +9.1% |
| AAON AAON | United States | $4.72B | -59% | +54% | 11% | 20.7× | n/a | n/a |
| Alliance Laundry ALH | United States | $4.49B | -11% | +10% | 19% | 16.4× | 15.2% | +7.5% |
| UBTECH ROBOTICS 9880.HK | Hong Kong | $4.73B | -41% | +90% | -21% | n/a | n/a | n/a |
| Horiba 6856.T | Japan | $4.79B | -17% | +12% | 17% | 14.4× | 11.2% | +12.2% |
| Jusung Engineering 036930.KS | South Korea | $4.39B | +5% | -33% | 0% | 145.3× | n/a | n/a |
| Leo 002131.SZ | China | $4.33B | -34% | +10% | -1% | n/a | n/a | n/a |
| HOSHIZAKI 6465.T | Japan | $4.93B | +5% | +12% | 10% | 17.8× | -4.5% | +15.3% |
| X-Energy XE | United States | $4.24B | -65% | -9% | -156% | n/a | n/a | n/a |
| Kion KGX.DE | Germany | $5.05B | -25% | +3% | 6% | 10.4× | n/a | n/a |
| DMG MORI Aktiengesellschaft GIL.DE | Germany | $4.17B | 0% | +3% | 5% | n/a | 11.3% | +2.7% |
| Franklin Electric FELE | United States | $4.16B | -5% | +7% | 13% | 18.0× | 9.2% | +11.3% |
| Jiangsu Gao Kai Precision Fluid 688835.SS | China | $4.15B | n/a | +21% | 24% | n/a | n/a | n/a |
| ESAB ESAB | United States | $5.15B | -18% | +11% | 13% | 14.0× | 12.7% | +7.8% |
| Amada 6113.T | Japan | $4.10B | -20% | +18% | 10% | 15.9× | 8.7% | +11.8% |