Rentokil Initial reports 3.8% revenue growth to $6.9 billion

The Tip Desk · March 25, 2026 · 2 min read

The company generated $615 million in free cash flow from continuing operations, up from $494 million in the prior year.

Rentokil Initial, a global provider of pest control and hygiene services, reported group revenue of $6,908 million for the year ended 31 December 2025, an increase of 3.8% from $6,617 million in 2024. Group organic revenue grew 2.6%.

Growth was led by the International region, where revenue rose 4.8% to $2,614 million. The company attributed this to growth across the UK, Southern Europe, and faster-growing economies including India and Indonesia. Organic revenue growth for the International business was 3.0%.

In North America, revenue increased 3.1% to $4,294 million. The company said this growth was driven primarily by pricing. Organic revenue growth in the region was 2.3%, though the company noted a trajectory of improvement throughout the year, rising from 0.7% in the first quarter to 3.6% in the fourth quarter.

Adjusted operating profit for the group rose 5.4% to $1,070 million. By category, Pest Control revenue grew 3.7% to $5,703 million, while Hygiene & Wellbeing revenue increased 4.3% to $1,205 million.

Cash generation remained a priority, with free cash flow from continuing operations reaching $615 million. The company attributed this improvement to higher profits and a better working capital position, though these were partly offset by higher cash interest payments of $222 million. Free cash flow conversion was 98%.

Net cash flows from operating activities were $972 million. The company also recorded $391 million in proceeds from the disposal of France Workwear.

Regarding future targets, the company maintains its expectation of a cost reduction opportunity of approximately $100 million. Rentokil Initial also expects to attain an operating margin in North America above 20% after 2026, although it noted that refined timelines may mean not all branches are fully integrated by that time.