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UK IT infrastructure reseller and services provider, supplying hardware, software licensing and cloud/cybersecurity solutions to businesses.
UK IT infrastructure reseller and services provider, supplying hardware, software licensing and cloud/cybersecurity solutions to businesses.
Buys technology from vendors and resells it to UK businesses and public bodies, earning the difference. Software and cloud subscriptions renew each year and give steadier income, while hardware depends on customers' refresh cycles. The business is centred on the UK.
In one line: A UK version of CDW, but smaller and mid-market focused.
Moat: none (distribution, customer qualification). Vendor accreditations and account-manager relationships help retention, but reselling margins are thin and competitive.
Headquarters: Marlow, UK · Founded: 1993
Size Softcat (SCT.L) is a United Kingdom Information Technology company (Information Technology Services) with a market value of $4.53B, the 101st largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £1,567 on 6 Nov 2026.
Performance Over six months the shares gained 13.8%, against +13.4% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 35.4% over the last twelve months (peer median +7.3%); the operating margin is 10.9% (peer median 9.1%).
Valuation It trades at 17.9× forward earnings against a peer median of 14.9× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -24 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 72.7 points above its cost of capital (7.2% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | £1.98B | £1.98B | £1.46B | £963M | £985M |
| Revenue growth | — | +35% | +52% | -2% | — |
| Gross profit | £612M | £612M | £491M | £416M | £372M |
| EBITDA | £228M | £228M | £196M | £160M | £146M |
| Net income | £150M | £150M | £133M | £119M | £112M |
| Free cash flow | £160M | £160M | £136M | £120M | £103M |
| Capital expenditure | £6.60M | £6.60M | £15.2M | £7.13M | £3.25M |
| Total debt | n/a | £37.9M | £35.2M | £10.4M | £9.76M |
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 |
|---|---|---|---|---|---|---|
| Softcat SCT.L | $4.53B | +14% | +35% | 11% | 17.9× | -4.1% |
| Computacenter CCC.L | $6.48B | +15% | +54% | 3% | 16.4× | 7.9% |
| Bytes Technology BYIT.L | $1.36B | +33% | +10% | 27% | 19.4× | 3.1% |
| CDW CDW | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% |
| Insight Enterprises NSIT | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% |
| Bechtle BC8.DE | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% |
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 | SCT.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.7% | 0.0% | 5th lowest of 21 |
| 6-month return | +13.8% | +13.4% | 11th highest of 21 |
| Distance from 52-week high | -26.6% | -24.4% | 9th lowest of 21 |
| Revenue growth (TTM) | +35.4% | +7.3% | 2nd highest of 21 |
| Operating margin | 10.9% | 9.1% | 9th highest of 21 |
| Forward P/E | 17.9× | 14.9× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -4.1% | 2.9% | 7th least demanding of 20 |
| Growth delivered (Del g) | +20.3% | +7.2% | 2nd highest of 20 |
| Hurdle (Req g minus delivered) | -24.4 pp | -1.8 pp | 2nd least demanding of 20 |
| ROIC minus cost of capital | +72.7 pp | +5.3 pp | highest of 20 |
| EV / EBITDA | 14.1× | 10.0× | 5th most expensive of 16 |
| Net debt / EBITDA | -0.7× | 0.5× | 4th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Softcat SCT.L | United Kingdom | $4.53B | +14% | +35% | 11% | 17.9× | -4.1% | +20.3% |
| Amdocs DOX | United States | $4.53B | -34% | +4% | 17% | 7.7× | -15.8% | +1.8% |
| Q2 Holdings, Inc. QTWO | United States | $4.57B | +47% | +13% | 13% | 22.5× | 26.6% | +14.6% |
| NS Solutions 2327.T | Japan | $4.43B | +6% | +12% | 12% | 21.3× | -5.1% | +8.6% |
| Insight Enterprises NSIT | United States | $4.64B | +89% | +3% | 6% | 11.7× | 2.9% | -0.2% |
| KBR KBR | United States | $4.69B | +14% | -3% | 9% | 9.5× | -8.7% | +6.2% |
| Bechtle BC8.DE | Germany | $4.72B | +13% | +8% | 5% | 16.8× | 6.9% | +4.9% |
| Sopra Steria SOP.PA | France | $4.29B | +50% | +2% | 9% | 11.2× | -0.6% | +5.8% |
| Parsons PSN | United States | $5.16B | -1% | -3% | 5% | 14.8× | 8.4% | +10.2% |
| Workiva WK | United States | $3.96B | +42% | +20% | 3% | 23.0× | 33.1% | +20.3% |
| Sterlite Technologies STLTECH.NS | India | $3.91B | +101% | +63% | 17% | 28.2× | 22.6% | -0.4% |
| LG Cns 064400.KS | South Korea | $5.29B | +14% | +4% | 9% | 15.5× | 5.6% | +7.2% |
| Pegasystems PEGA | United States | $5.30B | -10% | +1% | 12% | 13.8× | 8.8% | +11.4% |
| HyundaiAutoever 307950.KS | South Korea | $5.49B | -40% | +16% | 5% | 35.7× | 27.6% | +22.2% |
| TISI 3626.T | Japan | $5.50B | +20% | +5% | 13% | 15.1× | -7.7% | +5.9% |
| Jiangsu Hoperun Software 300339.SZ | China | $3.65B | -31% | +11% | 3% | 141.9× | n/a | n/a |
| TravelSky Technology 0696.HK | Hong Kong | $3.59B | -5% | +7% | 28% | 9.8× | -16.5% | +9.0% |
| Box BOX | United States | $5.76B | +63% | +10% | 9% | 26.0× | 20.3% | +8.8% |
| Ingram Micro INGM | United States | $5.85B | -6% | +15% | 2% | 6.8× | 2.9% | +1.4% |
| NICE Ltd. Sponsored ADR NICE | United States | $5.87B | +4% | +8% | 17% | 7.8× | -0.7% | +12.3% |
| Science Applications International SAIC | United States | $6.13B | +56% | -1% | 8% | 14.3× | -4.6% | +0.6% |