Davy Morning Equity Briefing

Oct 08, 2026

Volution

Another excellent financial year

2026 was another memorable financial year for Volution with adjusted operating profit exceeding over £100m for the first time. Moreover, underlying operating profit growth rose at a double-digit clip for a third consecutive year with impressive growth of 20% a fusion of organic progress and inorganic expansion. The group is well positioned to make further progress in the current financial year and beyond, with its geographic balance providing a rock-solid foundation. The stock is little changed year-to-date (+2%), leaving its valuation down from 18.5x at this stage last year to an equivalent of 16.3x currently.