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ValueScreener company report

Endava plc (DAVA)

NYSE / Technology / Software - Infrastructure

Share price

2.06 USD Market dataClose of Oct 16, 2026

Market capitalisation

115.8M USD Market dataClose of Oct 16, 2026
Market data
Oct 16, 2026
Filed accounts
FY2025, filed Sep 4, 2025
Ratios computed
Oct 16, 2026
Filed years
10, FY2016 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

3.7% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

4.10x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2025 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 115.4M GBPFY2016 Net income: 16.7M GBPFY2017 Revenue: 159.4M GBPFY2017 Net income: 16.8M GBPFY2018 Revenue: 217.6M GBPFY2018 Net income: 19.0M GBPFY2019 Revenue: 287.9M GBPFY2019 Net income: 24.0M GBPFY2020 Revenue: 350.9M GBPFY2020 Net income: 20.0M GBPFY2021 Revenue: 446.3M GBPFY2021 Net income: 43.5M GBPFY2022 Revenue: 654.8M GBPFY2022 Net income: 83.1M GBPFY2023 Revenue: 794.7M GBPFY2023 Net income: 94.2M GBPFY2024 Revenue: 740.8M GBPFY2024 Net income: 17.1M GBPFY2025 Revenue: 772.3M GBPFY2025 Net income: 21.2M GBP
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
4 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 4.10x at the close of 2026-10-16 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Software - Infrastructure industry (73 companies), 4.10x sits at the 6th percentile; the middle half of that group runs from 12.85x to 53.59x.

Is it good

Return on invested capital was 3.7% in FY2025, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Software - Infrastructure industry (39 companies), 3.7% sits at the 42nd percentile; the middle half of that group runs from 0.2% to 12.6%.

Is it safe

Interest coverage was 2.04x in FY2025, in the band labelled "Speculative grade" (1.50x to 3.00x), on lines anchored on Damodaran's interest-coverage table.

Year by year against peers
Whether Endava plc's gross margin stayed above the median of the Software - Infrastructure industry, year by year. (FY2016 to FY2025, 10 fiscal years of Endava plc with a comparable figure)
The direction
Which way Endava plc's gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of Endava plc)
What could explain it
What in Endava plc's filed statements could explain the movements. (7 readings drawn from the statement lines Endava plc filed)
What to check next
What to check next on Endava plc, and where in its filings. (5 questions for Endava plc)
In one paragraph
One paragraph on Endava plc's returns, cash, balance sheet and price. (11 of sixteen figures read for Endava plc)

These are DAVA’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research DAVAPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 20-F, filed Sep 4, 2025, accession 0001656081-25-000039.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Endava plc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax3.7% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Return on equity3.6% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Return on capital employed, pre-tax3.9% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Return on assets2.3% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Gross margin25.1% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Operating margin4.1% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Net margin2.8% ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
DAVA 2.8%
FATN 25.9%AISP 191.4%PDYN 191.4%SANG -2.1%GOAI -47.7%
-47.7%191.4%
Net margin: DAVA against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Endava plc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.39 ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Current ratio2.32 ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Quick ratio2.32 ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Interest coverage2.04x ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Altman Z-score2.15 ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Net debt168.7M ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Total assets 935.8MTotal liabilities 352.8MShareholders' equity 582.9MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Endava plc owned and owed at the end of fiscal 2025, from the balance sheet it filed (20-F, filed Sep 4, 2025, 0001656081-25-000039).

Endava plc: balance sheet position
Total assets935.8M FiledFY2025 20-F, filed Sep 4, 2025
Total liabilities352.8M FiledFY2025 20-F, filed Sep 4, 2025
Shareholders' equity582.9M FiledFY2025 20-F, filed Sep 4, 2025
Cash59.3M FiledFY2025 20-F, filed Sep 4, 2025
Total debt228.1M FiledFY2025 20-F, filed Sep 4, 2025
Net debt168.7M
Current ratio2.32
Debt to equity0.39

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Endava plc: what the market charges, each with its source
FigureValue, source and document
Price to earnings4.10x ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 16, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book0.15x ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Price to sales0.11x ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Enterprise value to EBIT8.11x ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Enterprise value to EBITDA6.34x ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Diluted earnings per share
Why n/a

The FY2025 filing carries no diluted earnings per share we could read.

n/a FiledFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039

We publish no fair value or price target of our own. Value DAVA on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Endava plc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Endava plc: valuation
Share price2.06 USD
Market capitalisation115.8M USD
Enterprise value to EBITDA6.34x
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Endava plc

  1. FatPipe, Inc. Common Stock (FATN)Market cap 70.6M USD
  2. Airship AI Holdings, Inc. (AISP)Market cap 70.6M USD
  3. Palladyne AI Corp. (PDYN)Market cap 187.0M USD
  4. Sangoma Technologies Corporation (SANG)Market cap 159.8M USD
  5. Eva Live, Inc. (GOAI)Market cap 64.8M USD

Same industry (Software - Infrastructure) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

Computed

Endava plc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Free cash flow
Why n/a

The FY2025 filing carries no free cash flow we could read.

n/a ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 16, 2026 · FY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
FY2016 Net income: 16.7M GBPFY2017 Net income: 16.8M GBPFY2018 Net income: 19.0M GBPFY2019 Net income: 24.0M GBPFY2020 Net income: 20.0M GBPFY2021 Net income: 43.5M GBPFY2022 Net income: 83.1M GBPFY2023 Net income: 94.2M GBPFY2024 Net income: 17.1M GBPFY2025 Net income: 21.2M GBP
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Endava plc: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
4.10xFY2025Oct 16, 2026
0.15xFY2025Oct 16, 2026
8.11xFY2025Oct 16, 2026
n/aFY2025Oct 16, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
3.7%FY2025Sep 4, 2025
n/aFY2025Oct 16, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.39FY2025Sep 4, 2025
2.32FY2025Sep 4, 2025
0.11xFY2025Oct 16, 2026
n/aFY2025Oct 16, 2026
n/a The filed income statement reports no earnings per share.
2.15FY2025Oct 16, 2026
-2.21FY2025Sep 4, 2025
7/9FY2025Sep 4, 2025

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 10 filed fiscal years on record, FY2016 to FY2025, from SEC EDGAR. Prices as of Oct 16, 2026. Ratios recomputed Oct 16, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports Endava plc filed with the SEC. Each year names its filing. Amounts in GBP, as filed.

Endava plc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025772.3M31.5M21.2Mn/an/a4.1%3.6%20-F, Sep 4, 20250001656081-25-000039
FY2024740.8M20.1M17.1Mn/an/a2.7%2.7%20-F, Sep 19, 20240001656081-24-000037
FY2023794.7M112.8M94.2Mn/an/a14.2%16.5%20-F, Sep 19, 20230001656081-23-000041
FY2022654.8M95.4M83.1Mn/an/a14.6%19.2%20-F, Oct 31, 20220001656081-22-000042
FY2021446.3M63.6M43.5Mn/an/a14.2%14.7%20-F, Sep 28, 20210001656081-21-000053
FY2020350.9M20.0M20.0Mn/an/a5.7%8.6%20-F, Sep 15, 20200001656081-20-000016
FY2019287.9M33.0M24.0Mn/an/a11.4%14.7%20-F, Sep 25, 20190001656081-19-000025
FY2018217.6M25.4M19.0Mn/an/a11.7%27.3%20-F, Oct 11, 20180001656081-18-000004
FY2017159.4M23.1M16.8Mn/an/a14.5%34.5%20-F, Oct 11, 20180001656081-18-000004
FY2016115.4M19.9M16.7Mn/an/a17.3%n/a20-F, Oct 11, 20180001656081-18-000004
  • Revenue, compound annual growth FY2016 to FY2025: 23.5%
  • Earnings, compound annual growth FY2016 to FY2025: 2.7%
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Fewer than two filed years carry free cash flow.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Endava plc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.21 ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Piotroski F-score7/9 ComputedFY2025 20-F, filed Sep 4, 2025, 0001656081-25-000039
Named tests met4 of 30 Computed
Beta1.18 ComputedClose of Oct 16, 2026

The named tests

Of 30 tests value investors published: 4 met, 20 not met, 6 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Deep value; Book or below, low debt (Walter Schloss); Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman)
Does not
Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Low beta, profitable; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC
Not measured
Defensive investor (Benjamin Graham); High yield, low payout; Dividends and buybacks; P/E times P/B (Benjamin Graham); Cash-covered dividend; Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(11)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • Share Count Change Yoy: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 11 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 6 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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