Update: Diploma (DPLM)
Review of Diploma's ($DPLM $DPLM.LN) strong H1 2025 results.
Diploma reported strong H2 F2025 results (FYE June). Shared were up 14%. Diploma delivered 9% total organic growth. The standout was 16% organic growth in Controls but otherwise steady performance in Seals (flat) and Life Sciences (6%). These numbers are well ahead of my long-term assumption of 5% organic growth. Specifically, my assumption of 6% long-term organic growth in Controls is likely too conservative. This performance drove Diploma to upgrade guidance from 6% organic growth to 8% and from 21% EBITA margins to 22%. In the next section, I go over some of the key highlights and provide an update to my near-term forecast and valuation.
