EKF Diagnostics Holdings PLC (GB:EKF)
LSE:EKF
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EKF Diagnostics Holdings
(LSE:EKF)
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Rating:59Neutral
Price Target:
27.00 p
▲(1.69% Upside)
Action:ReiteratedDate:04/23/26
The score is mainly supported by a conservative, low-debt balance sheet and generally solid cash generation, which reduce financial risk. Offsetting this are inconsistent revenue and materially lower profitability than prior peak years, plus mixed technical signals. Valuation is a key negative due to a high P/E with no provided dividend yield support.
Positive Factors
Conservative balance sheet
Very low leverage and sizable equity (assets ~£81.1m, equity ~£69.1m in 2025) provide durable financial flexibility. This reduces solvency risk, supports R&D and working capital through downturns, and enables opportunistic capital allocation without needing external financing.
Negative Factors
Inconsistent revenue growth
Volatile top-line performance reduces visibility and limits operating leverage. The post-2021 decline and only modest recovery mean the company may struggle to scale fixed-cost coverage, complicating multi-quarter planning and risking margin pressure if growth stalls again.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and sizable equity (assets ~£81.1m, equity ~£69.1m in 2025) provide durable financial flexibility. This reduces solvency risk, supports R&D and working capital through downturns, and enables opportunistic capital allocation without needing external financing.
Read all positive factors
EKF Diagnostics Holdings (EKF) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£114.30M
Dividend YieldN/A
Average Volume (3M)597.80K
Price to Earnings (P/E)166.2
Beta (1Y)0.27
Revenue Growth2.73%
EPS Growth-65.94%
CountryUK
Employees303
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)<0.01
Shares Outstanding430,503,100
10 Day Avg. Volume853,279
30 Day Avg. Volume597,798
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)1.71
Price to Sales (P/S)2.30
P/FCF Ratio14.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£35.00Price Target Upside31.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.02
Revenue Forecast (FY)£54.63M
EKF Diagnostics Holdings Business Overview & Revenue Model
Company Description
EKF Diagnostics Holdings plc designs, develops, manufactures, and sells diagnostic instruments, reagents, and other ancillary products in Europe, the Middle East, the Americas, Asia, Africa, and internationally. It offers DiaSpect Tm hand-held hem...
How the Company Makes Money
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EKF Diagnostics Holdings Earnings Call Summary
Earnings Call Date:Sep 16, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 22, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with notable revenue and profit growth, increased production capacity, and successful new contracts. However, there were challenges in the APAC region and some market constraints affecting the share buyback program. Overall, the positives, including significant production increases and strategic growth plans, outweigh the negatives.Positive Updates
Revenue and Profit Growth
Revenues for the first half were GBP 25.2 million, in line with the previous year, but closer to GBP 26 million on a constant currency basis. Gross profit improved with a gross margin increase to 50% from 48%. EBITDA grew by 7.4% to GBP 5.8 million, and profit increased by 16.1%.
Negative Updates
Decline in APAC Region
A 26% drop in the APAC region, primarily due to discontinued products in clinical chemistry.
Read all updates
Q2-2025 Updates
Positive
Negative
Revenue and Profit Growth
Revenues for the first half were GBP 25.2 million, in line with the previous year, but closer to GBP 26 million on a constant currency basis. Gross profit improved with a gross margin increase to 50% from 48%. EBITDA grew by 7.4% to GBP 5.8 million, and profit increased by 16.1%.
Read all positive updates
Company Guidance
During the investor presentation, EKF Diagnostics reported a stable revenue of GBP 25.2 million for the first half of 2025, aligning with the previous year, but noted a rise to GBP 26 million on a constant currency basis. The company improved its gross margin from 48% to 50% by eliminating lower-margin products, resulting in a 7.4% increase in EBITDA to GBP 5.8 million and a 16.1% rise in profit. They also highlighted a cash reserve increase to GBP 16.6 million, aiming to reach GBP 20 million by year-end. Production capacity was a focal point, with hematology analyzer production up by 60%, anticipating substantial consumable growth in the latter half of 2025. Strategic expansions included signing contracts in Africa and Latin America, contributing to a 12% increase in Beta-Hydroxybutyrate sales. Additionally, EKF executed a share buyback, purchasing 4.6 million shares to enhance earnings per share, and maintained a focus on its 5-year strategy for sustainable growth and increasing revenue and EBITDA by 2029.EKF Diagnostics Holdings Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
83
Very Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 51.56M | 50.19M | 52.61M | 66.64M | 81.84M |
| Gross Profit | 26.48M | 21.48M | 23.86M | 24.04M | 39.37M |
| EBITDA | 6.75M | 11.16M | 7.68M | -2.18M | 27.39M |
| Net Income | 2.12M | 6.24M | 2.35M | -10.10M | 15.85M |
Balance Sheet | |||||
| Total Assets | 81.14M | 81.75M | 80.85M | 89.29M | 115.12M |
| Cash, Cash Equivalents and Short-Term Investments | 15.83M | 13.01M | 6.02M | 11.58M | 20.34M |
| Total Debt | 1.39M | 1.32M | 4.10M | 1.55M | 3.47M |
| Total Liabilities | 10.86M | 8.53M | 12.63M | 14.77M | 20.38M |
| Stockholders Equity | 69.05M | 72.33M | 67.12M | 73.35M | 94.12M |
Cash Flow | |||||
| Free Cash Flow | 8.18M | 11.41M | -664.00K | 3.86M | 4.59M |
| Operating Cash Flow | 9.71M | 13.66M | 6.31M | 9.69M | 10.24M |
| Investing Cash Flow | -2.34M | -2.66M | -5.64M | -8.93M | -5.48M |
| Financing Cash Flow | -5.86M | -4.08M | -3.65M | -11.04M | -6.16M |
EKF Diagnostics Holdings Technical Analysis
Neutral
26.55
Price Trends
25.09
Negative
25.20
Negative
26.65
Negative
Market Momentum
-0.20
Negative
49.20
Neutral
58.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EKF, the sentiment is Neutral. The current price of 26.55 is above the 20-day moving average (MA) of 24.23, above the 50-day MA of 25.09, and below the 200-day MA of 26.65, indicating a neutral trend. The MACD of -0.20 indicates Negative momentum. The RSI at 49.20 is Neutral, neither overbought nor oversold. The STOCH value of 58.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:EKF.
EKF Diagnostics Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £90.13M | 6.86 | 65.83% | 8.33% | -8.21% | -5.27% | |
59 Neutral | £114.30M | 166.23 | 3.01% | ― | 2.73% | -65.94% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | £4.88M | -4.58 | 12.15% | ― | -10.20% | 714.29% | |
49 Neutral | £21.34M | -2.69 | -58.27% | ― | 40.37% | -13.70% | |
47 Neutral | £15.25M | -0.76 | -153.92% | ― | 65.60% | 74.84% | |
39 Underperform | £7.87M | ― | 425.97% | ― | ― | ― |
* Healthcare Sector Average
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EKF Diagnostics Holdings Corporate Events
Business Operations and StrategyM&A TransactionsProduct-Related Announcements
EKF Diagnostics boosts sports performance offering with Beep Insights tech deal
Positive
Apr 13, 2026
EKF Diagnostics has acquired technology assets from Sweden’s Beep Insights AB, including a mobile application that integrates data from sports performance wearables with real-time glucose and lactate tracking to deliver personalised training...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 400,000 Shares After Buyback on AIM
Positive
Apr 10, 2026
EKF Diagnostics has repurchased 400,000 of its ordinary shares at a weighted average price of 24.5 pence, with all of the shares to be cancelled rather than held in treasury. The move reduces the company’s share count to 430,503,112 voting s...
Business Operations and StrategyStock Buyback
EKF Diagnostics Buys Back 50,000 Shares for Treasury
Positive
Apr 8, 2026
EKF Diagnostics Holdings has repurchased 50,000 ordinary shares at a weighted average price of 23.5 pence, with all shares to be held in treasury rather than immediately cancelled. The move marginally reduces the free float and leaves 430,903,112 ...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Updates Market After Small Treasury Share Buyback
Positive
Apr 7, 2026
EKF Diagnostics has executed a share buyback, purchasing 15,000 ordinary shares at a weighted average price of 23.43 pence, with all acquired shares to be held in treasury rather than cancelled. The transaction leaves the company with an issued sh...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Buys Back 100,000 Shares, Updates Voting Capital
Positive
Mar 31, 2026
EKF Diagnostics Holdings has repurchased 100,000 of its ordinary shares at a weighted average price of 23.6 pence per share, with the stock to be held in treasury rather than cancelled. The transaction signals ongoing use of its buyback authority ...
Business Operations and StrategyStock BuybackFinancial Disclosures
EKF Diagnostics lifts margins and cash as it resets for five-year growth plan
Positive
Mar 24, 2026
EKF Diagnostics reported 2025 revenues of £51.6m, up from £50.2m, with gross margins rising to 51% and adjusted EBITDA increasing 9.3% to £12.4m as it exits non-core, low-margin product lines. The group generated £11.6m in oper...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics tightens free float with share buyback and manages major holder’s stake
Positive
Mar 20, 2026
EKF Diagnostics Holdings has repurchased 156,000 ordinary shares at a volume‑weighted average price of 24.86p, with all shares to be held in treasury, reducing the free float and slightly increasing existing shareholders’ proportional ...
Business Operations and StrategyStock Buyback
EKF Diagnostics Tightens Capital Structure With Targeted Share Buyback
Positive
Mar 19, 2026
EKF Diagnostics Holdings has repurchased 142,000 ordinary shares at 25 pence each, with the shares to be held in treasury, leaving total issued share capital at 431,963,112 shares and 431,254,112 shares carrying voting rights. The transaction incl...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Tightens Share Capital With Targeted Buyback
Positive
Mar 18, 2026
EKF Diagnostics Holdings has repurchased 213,000 ordinary shares at 25 pence each, which will be held in treasury, reducing the number of shares in public hands and leaving 431,396,112 shares carrying voting rights. The transaction includes the ac...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Tightens Free Float With Treasury Share Buyback
Positive
Mar 6, 2026
EKF Diagnostics Holdings has repurchased 213,000 ordinary shares at 26 pence each, placing them into treasury and leaving 431,609,112 shares in issue with voting rights. The transaction, executed on AIM, forms part of the company’s ongoing s...
Business Operations and StrategyFinancial Disclosures
EKF Diagnostics Sets 24 March Date for 2025 Results and Dual Investor Presentations
Positive
Mar 5, 2026
EKF Diagnostics Holdings will publish its full-year results for 2025 on 24 March 2026, underscoring its role as a global provider of point-of-care diagnostics for hematology and diabetes and specialist life sciences manufacturing services. To enga...
Business Operations and Strategy
EKF Diagnostics Secures Three-Year U.S. Hematology Deal with Blood Centers of America
Positive
Mar 3, 2026
EKF Diagnostics Holdings has signed a three-year group purchasing agreement with Blood Centers of America, the largest U.S. blood supply network, covering its DiaSpect Tm hand-held hemoglobin analyzer, consumable cuvettes and the EKF Link IT conne...
Financial DisclosuresRegulatory Filings and Compliance
EKF Diagnostics Updates Total Voting Rights After Share Capital Review
Neutral
Mar 2, 2026
EKF Diagnostics Holdings has confirmed that its total issued share capital stands at 431,963,112 ordinary shares of 1p each, of which 141,000 are held in treasury and do not carry voting rights. This leaves 431,822,112 ordinary shares with voting ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Tightens Capital Structure With Targeted Share Buyback
Positive
Feb 27, 2026
EKF Diagnostics Holdings has executed a share buyback of 141,000 ordinary shares at a weighted average price of 25 pence, with the repurchased stock to be held in treasury. Following this transaction, the company’s issued share capital stand...
Business Operations and StrategyStock Buyback
EKF Diagnostics launches £1m share buyback while managing major holder’s stake
Positive
Feb 19, 2026
EKF Diagnostics Holdings has launched an on‑market share buyback programme to repurchase up to 5,000,000 ordinary shares, about 1.15% of its issued share capital, funded from surplus cash and with all repurchased stock to be held in treasury...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Completes Share Buyback, Clarifies Voting Capital and Major Shareholder Position
Neutral
Feb 2, 2026
EKF Diagnostics Holdings has completed its share buyback programme, purchasing a final tranche of 159,000 ordinary shares at a weighted average price of 25.6875 pence, bringing total repurchases under the scheme to 17.13 million shares at an avera...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Buys Back Shares and Maintains Major Shareholder’s Stake Below 30%
Neutral
Jan 30, 2026
EKF Diagnostics Holdings has repurchased 106,000 of its ordinary shares at a volume-weighted average price of 25.7333 pence, with all shares to be held in treasury, reducing the number of shares carrying voting rights to 432,122,112. As part of th...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Tightens Share Capital Control with Targeted Buyback
Positive
Jan 29, 2026
EKF Diagnostics Holdings has repurchased 72,000 of its ordinary shares at a weighted average price of 25.6 pence, with the shares to be held in treasury, leaving 432,228,112 shares in issue carrying voting rights. As part of the buyback, the compa...
Business Operations and StrategyStock Buyback
EKF Diagnostics Tightens Capital Structure With Treasury Share Buyback
Positive
Jan 28, 2026
EKF Diagnostics Holdings has repurchased 280,000 of its ordinary shares at a weighted average price of 26.175 pence, with the shares to be held in treasury, reducing the number of shares in issue carrying voting rights to 432,300,112. As part of t...
Business Operations and StrategyStock BuybackFinancial Disclosures
EKF Diagnostics Lifts Margins and EBITDA as It Builds Platform for Five-Year Growth Plan
Positive
Jan 27, 2026
EKF Diagnostics reported modest top-line growth for FY 2025, with revenues up 3% to £51.6m as it continues to prioritise higher-margin product ranges and wind down non-core, low-margin lines. Point-of-care revenues in hematology and diabetes ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.