The 2026 Academies Benchmark Report has now been published

The 14th annual benchmark report has analysed the financial data of over 250 Trusts (representing almost 2,500 schools) providing essential information on the financial performance and key financial trends of the academy sector. Headlines include:

• Only 25% of Trusts were holding less than 5% in reserves, a reduction from 31% last year
• The average number of schools in a MAT is now 13.6, last year it was 11.4
• The number of Trusts that are fully centralised is 86%, up 8% from last year
• The number of Trusts making in-year deficits has fallen from 60% in 23/24 to 37%
• Free school meals income is insufficient to cover the cost of providing them in 89% of Trusts
• 49% of large Trusts are now GAG pooling, up from 41%
• Fewer Trusts are planning to add new academies in the future, last year 61% expected to gain at least one school, now it is 36%.

See the full report for more details.