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Why invest in XPS?

We are a purpose-led business with strong fundamentals operating in a long-dated and growing market. We are a sustainable business that is focused on delivering value for all our stakeholders.

Diversified and stable client base

We have long-standing relationships with a large and diverse client base, consisting of over 1,500 clients. We have a strong brand and have won multiple industry awards for our client service.



Well positioned in a sustainable market with favourable market trends

There are c.£2 trillion of liabilities of private UK defined benefit pension schemes and a rapidly growing defined contribution market. Regulatory developments are driving increased client activity and demand for our services.


size of annual fee market

Track record of positive financial performance and dividend yield

XPS has delivered year-on-year revenue growth, through a range of macroeconomic conditions, for the past five years since listing on the London Stock Exchange.


revenue CAGR over the last five years

Trusted expertise and highly engaged colleagues

The outstanding expertise and client service focus of our colleagues is widely relied upon and highly valued by our clients. We have high client satisfaction scores and our people think XPS is a great place to work.


of our people think XPS is a great place to work

Non-cyclical and recurring revenues

Our services are typically provided on the basis of an open-ended engagement with clients and are compliance-driven to a statutory timetable. They are therefore required in all parts of the economic cycle. We have a high degree of visibility of our revenue.


repeat recurring revenue across the business

Opportunities for earnings enhancing M&A and scale-up

We have a proven track record of successful earnings enhancing M&A which demonstrates our ability to execute deals that are aligned to our corporate strategy.


acquisitions since listing in 2017

Strong cash conversion and growing dividends

The Group has a robust balance sheet and consistently high cash conversion and has continued to pay two-thirds of adjusted profit in dividends each year since listing.


adjusted operating cash conversion